Avada Trading Company (P) Ltd. v. ACIT

100 ITD 131Income Tax Appellate Tribunal2006#3851 most cited

What is Avada Trading Company (P) Ltd. v. ACIT authority for?

Interest received under section 244A is taxable in the year of receipt, even if the proceedings under section 143(1)(a) are subject to finality later, and any reduction in interest due to subsequent assessment proceedings under section 143(3) does not leave the assessee without remedy.

30

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Also referred to as

Avada Trading Company · ACIT · section 244A · section 143(1)(a) · section 143(3) · taxability of interest · interest on refund · year of receipt · finality of proceedings

Sections most often in play

Section 80IASection 40(a)(ii)Section 43BSection 143(3)Section 2(42A)Section 244ASection 28(iv)Section 37

Issues it is cited on

section 90(3)section 43b(a)section 244a(1)section 41(2)section 43(6)(c)interest on refundsection 80ia(8)azadi bachao andolansection 80hactual payment basissection 43(6)opening wdv

Judgments citing Avada Trading Company (P) Ltd. v. ACIT

ACIT 6(3), MUMBAI vs. GRASIM INDUSTRIES LTD, MUMBAI

ITA 4385/MUM/2009[2006-07]Status: HeardITAT Mumbai25 Feb 2025AY 2006-07
Section 143(2)Section 143(3)Section 24Section 43B

…ision of Tribunal in the case of the Assessee passed in appeals for preceding assessment years and the decision of the Special Bench of the Tribunal in the case of Avada Trading Co. Pvt. Ltd. Vs. Assistant Commissioner of Income-tax, Spl. Circle 18(1): [2006] 100 ITD 131 (MUM.) (SB) on which reliance was placed on behalf of the Assessee 10. 3. In the case of Avada Trading Co. Pvt. Ltd. (supra) while examining the issue of taxability of interest under Section 244A of the Act the Special Bench of the Tribunal held as under: “7. Rival contentions have been considered carefully. The question for consideration is whe…

GRASIM INDUSTRIES LTD ( CORPORATE FINANCE DIVISION),MUMBAI vs. ADDL CIT RG 6(3), MUMBAI

ITA 3762/MUM/2009[2006-07]Status: DisposedITAT Mumbai25 Feb 2025AY 2006-07

Bench: the CIT(A). The CIT(A) partly allowed the appeal preferred by the Assessee vide order, dated 18/05/2009. 4. Not being satisfied with the relief granted by the Id. CIT(A), the Assessee has preferred appeal before this Tribunal. The Revenue has also filed cross-appeal challenging the relief granted by the Id. CIT(A).

For Appellant: Shri J. D. Mistry Sr. AdvocateFor Respondent: Shri Kishor Dhule
Section 143(2)Section 143(3)Section 24Section 43B

…e of the Assessee passed in appeals for preceding assessment years and the decision of the Special Bench of the Tribunal in the case of Avada Trading Co. Pvt. Ltd. Vs. Assistant Commissioner of Income-tax, Spl. Circle 18(1): [2006] Assessment Years: 2006-2007 100 ITD 131 (MUM.) (SB) on which reliance was placed on behalf of the Assessee 10.3. In the case of Avada Trading Co. Pvt. Ltd. (supra) while examining the issue of taxability of interest under Section 244A of the Act the Special Bench of the Tribunal held as under: “7. Rival contentions have been considered carefully. The question for consideration is wheth…

TATA MOTORS LTD,MUMBAI vs. ACIT 2(3), MUMBAI

In the result, appeal of the assessee is partly allowed

ITA 631/MUM/2013[2008-09]Status: DisposedITAT Mumbai05 Feb 2024AY 2008-09

Bench: Shri Vikas Awasthy& Shri S.Rifaur Rahmanआअसं.631/मुं/2013 (िन.व. 2008-09) Tata Motors Limited Bombay House, 24,Homi Mody Street, Hutama Chowk, Mumbai – 400001. Pan: Aaact-2727-Q ...... अपीलाथ"/Appellant बनाम Vs. The Addl. Commissioner Of Income Tax Circle -2(3), Mumbai. Aaykar Bhavan, M.K.Road, Mumbai – 400 020 ....."ितवादी/Respondent अपीलाथ" "ारा/ Appellant By : Shri J.D.Mistry, Sr.Advocate With Shri Nikhil Tiwari,Advocate "ितवादी "ारा/Respondent By : Ms. Vatsala Jha, Cit-Dr & Shri Manoj Kumar Singh, Sr.Ar सुनवाई की ितिथ/ Date Of Hearing : 10/11/2023 घोषणा की ितिथ/ Date Of Pronouncement : 05/02/2024 आदेश/Order Per Vikas Awasthy, Jm:

For Appellant: Shri J.D.Mistry, Sr.Advocate with Shri Nikhil Tiwari,AdvocateFor Respondent: Ms. Vatsala Jha, CIT-DR and Shri Manoj Kumar Singh, Sr.AR
Section 116Section 143(3)Section 92C

…/- on refund of tax was allowed to the assessee vide intimation u/s. 143(1) dated 07/12/2007 for A.Y. 2006-07. The assessee offered the aforesaid entire amount to tax in accordance with the decision of Special Bench in the case of Avada Trading Co. Pvt. Ltd., 100 ITD 131. In the final assessment order passed u/s. 143(3) r.w.s. 144C(13) of the Act for A.Y 2006-07 the interest amount was reduced to Rs.8,58,80,712/-. Subsequently, the A.O in rectification order passed u/s. 154 of the Act dated 21/04/2011 allowed interest of Rs.13,03,17,397/-. Subsequent to direction of the DRP, the AO again modified the interest amo…

M/S SANOFI INDIA LTD (FORMERLY KNOWN AS AVENTIS PHARMA LTD,MUMBAI vs. THE ACIT RG 8(1), MUMBAI

In the result, appeal filed by the Revenue is dismissed

ITA 1606/MUM/2007[2003-2004]Status: DisposedITAT Mumbai31 Oct 2023AY 2003-2004

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 271(1)(c)

…2004-05) M/s. Sanofi India Ltd 52. At the time of hearing, Ld. AR of the assessee submitted that this issue is decided in favour of the revenue and brought to our notice decision of the Special Bench in the case of Avada Trading Co. Pvt. Ltd., v. ACIT (2006) 100 ITD 131 (Spl. Mumbai). 53. On the other hand, Ld.DR agreed with the submissions of the assessee. 54. Considered the rival submissions and material placed on record, we observed that in the case of Avada Trading Co. Pvt. Ltd., v. ACIT (supra), the Special Bench of the Mumbai Tribunal held as under: “14. It has been apprehended by assessee's counsel tha…

ACIT- 3(1)(1), MUMBAI vs. MM/S SANOFI INDIA LIMITED (FORMERLY KNOWN AS AVENTIS PHARMA LTD)., MUMBAI

In the result, appeal filed by the Revenue is dismissed

ITA 1302/MUM/2007[2003-2004]Status: DisposedITAT Mumbai31 Oct 2023AY 2003-2004

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 271(1)(c)

…2004-05) M/s. Sanofi India Ltd 52. At the time of hearing, Ld. AR of the assessee submitted that this issue is decided in favour of the revenue and brought to our notice decision of the Special Bench in the case of Avada Trading Co. Pvt. Ltd., v. ACIT (2006) 100 ITD 131 (Spl. Mumbai). 53. On the other hand, Ld.DR agreed with the submissions of the assessee. 54. Considered the rival submissions and material placed on record, we observed that in the case of Avada Trading Co. Pvt. Ltd., v. ACIT (supra), the Special Bench of the Mumbai Tribunal held as under: “14. It has been apprehended by assessee's counsel tha…

THE ACIT CIR 6(3), MUMBAI vs. M/S. GRASIM INDUSTRIES LTD, MUMBAI

In the result, the appeal by the Revenue is dismissed

ITA 3854/MUM/2006[2005-2006]Status: DisposedITAT Mumbai04 Jul 2023AY 2005-2006

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

For Appellant: Shri J.D. Mistri a/wFor Respondent: Dr. Kishor Dhule
Section 142(1)Section 143(2)Section 143(3)Section 250Section 43B

…hdrawn as a result of the appellate orders should be given to the assessee and the interest subsequently withdrawn should not be taxed and for this, reliance was placed on the decision of the Tribunal in the case of Avada Trading Co. (P.) Ltd. vs. ACIT (2006) 100 ITD 131. 9. We have considered the rival contentions. As far as the taxability of interest amounting to Rs. 13,64,09,609/- is concerned, granted alongwith interest. However, if in the subsequent year refund of interest is withdrawn, then the same should be reduced from the total income of the assessee. Accordingly, we direct the A.O. to tax interest inco…

M/S. GRASIM INDUSTRIES LTD.,MUMBAI vs. DCIT CIR - 6(3), MUMBAI

In the result, the appeal by the Revenue is dismissed

ITA 3517/MUM/2006[2005-2006]Status: DisposedITAT Mumbai04 Jul 2023AY 2005-2006

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

For Appellant: Shri J.D. Mistri a/wFor Respondent: Dr. Kishor Dhule
Section 142(1)Section 143(2)Section 143(3)Section 250Section 43B

…hdrawn as a result of the appellate orders should be given to the assessee and the interest subsequently withdrawn should not be taxed and for this, reliance was placed on the decision of the Tribunal in the case of Avada Trading Co. (P.) Ltd. vs. ACIT (2006) 100 ITD 131. 9. We have considered the rival contentions. As far as the taxability of interest amounting to Rs. 13,64,09,609/- is concerned, granted alongwith interest. However, if in the subsequent year refund of interest is withdrawn, then the same should be reduced from the total income of the assessee. Accordingly, we direct the A.O. to tax interest inco…

DCIT CIR. 6 (3), MUMBAI vs. M/S. GRASIM INDUSTRIES LTD., MUMBAI

In the result, the appeal by the Revenue is dismissed

ITA 4337/MUM/2005[2004-2005]Status: DisposedITAT Mumbai23 Jun 2023AY 2004-2005

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

For Appellant: Shri J.D. Mistri a/wFor Respondent: Dr. Kishore Dhule
Section 142(1)Section 143(2)Section 143(3)Section 250Section 43BSection 80Section 80HSection 80I

…hdrawn as a result of the appellate orders should be given to the assessee and the interest subsequently withdrawn should not be taxed and for this, reliance was placed on the decision of the Tribunal in the case of Avada Trading Co. (P.) Ltd. vs. ACIT (2006) 100 ITD 131. Grasim Industries Ltd. ITA no.4337/Mum./2005 ITA no.4337/Mum./2005 9. We have considered the rival contentions. As far as the taxability of interest amounting to Rs. 13,64,09,609/- is concerned, granted alongwith interest. However, if in the subsequent year refund of interest is withdrawn, then the same should be reduced from the total income o…

M/S. GRASIM INDUSTRIES LTD.,MUMBAI vs. DCIT CIT CIR. 6(3), MUMBAI

In the result, the appeal by the Revenue is dismissed

ITA 3439/MUM/2005[2004-2005]Status: DisposedITAT Mumbai23 Jun 2023AY 2004-2005

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

For Appellant: Shri J.D. Mistri a/wFor Respondent: Dr. Kishore Dhule
Section 142(1)Section 143(2)Section 143(3)Section 250Section 43BSection 80Section 80HSection 80I

…hdrawn as a result of the appellate orders should be given to the assessee and the interest subsequently withdrawn should not be taxed and for this, reliance was placed on the decision of the Tribunal in the case of Avada Trading Co. (P.) Ltd. vs. ACIT (2006) 100 ITD 131. Grasim Industries Ltd. ITA no.4337/Mum./2005 ITA no.4337/Mum./2005 9. We have considered the rival contentions. As far as the taxability of interest amounting to Rs. 13,64,09,609/- is concerned, granted alongwith interest. However, if in the subsequent year refund of interest is withdrawn, then the same should be reduced from the total income o…

DCIT CIR 6(3), MUMBAI vs. M/S. GRASIM INDUSTRIES LTD., MUMBAI

In the result, the appeal by the Revenue is partly allowed for statistical purposes

ITA 5978/MUM/2004[2003-2004]Status: DisposedITAT Mumbai13 Jun 2023AY 2003-2004

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

For Appellant: Shri J.D. Mistry a/wFor Respondent: Dr. Kishore Dhule
Section 142(1)Section 143(3)Section 250Section 43BSection 80Section 80H

…hdrawn as a result of the appellate orders should be given to the assessee and the interest subsequently withdrawn should not be taxed and for this, reliance was placed on the decision of the Tribunal in the case of Avada Trading Co. (P.) Ltd. vs. ACIT (2006) 100 ITD 131. 9. We have considered the rival contentions. As far as the taxability of interest amounting to Rs. 13,64,09,609/- is concerned, granted alongwith interest. However, if in the subsequent year refund of interest is withdrawn, then the same should be reduced from the total income of the assessee. Accordingly, we direct the A.O. to tax interest inco…

GRASIM INDUSTRIES LTD.,MUMBAI vs. DCIT RANGE 6(3), MUMBAI

In the result, the appeal by the Revenue is partly allowed for statistical purposes

ITA 4754/MUM/2004[2003-04]Status: DisposedITAT Mumbai13 Jun 2023AY 2003-04

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

For Appellant: Shri J.D. Mistry a/wFor Respondent: Dr. Kishore Dhule
Section 142(1)Section 143(3)Section 250Section 43BSection 80Section 80H

…hdrawn as a result of the appellate orders should be given to the assessee and the interest subsequently withdrawn should not be taxed and for this, reliance was placed on the decision of the Tribunal in the case of Avada Trading Co. (P.) Ltd. vs. ACIT (2006) 100 ITD 131. 9. We have considered the rival contentions. As far as the taxability of interest amounting to Rs. 13,64,09,609/- is concerned, granted alongwith interest. However, if in the subsequent year refund of interest is withdrawn, then the same should be reduced from the total income of the assessee. Accordingly, we direct the A.O. to tax interest inco…

RELIANCE INDUSTRIES LTD.,MUMBAI vs. ASSTT. CIT-CC-3(4), MUMBAI

In the result, appeal by the Revenue is dismissed

ITA 579/MUM/2021[2016-17]Status: DisposedITAT Mumbai14 Oct 2022AY 2016-17

Bench: Shri Pramod Kumar, Vice Preside & Shri Sandeep Singh Karhail

For Appellant: Shri Nimesh Vora a/wFor Respondent: Shri Chetan M. Kacha, Sr. AR
Section 115JSection 143Section 144C(3)Section 14ASection 250Section 250(6)Section 32Section 92CSection 92C(3)

…. 16. The brief facts pertaining to this issue are: For the year under consideration, assessee in its return has offered interest income on income tax refund of Rs. 266,45,06,765, following the Special Bench decision in Avada Trading Company (P) Ltd vs ACIT (100 ITD 131). The interest income on income tax refund was revised to Rs. 265,38,24,122 due to orders passed subsequently. During the course of assessment proceedings, the assessee was asked to show cause as to why interest on income tax refund ought not to be added to book profit under section 115 JB of the Act. In reply, assessee submitted that there was n…

ACIT -3(4) , MUMBAI vs. RELIANCE INDUSTRIES LTD, MUMBAI

In the result, appeal by the Revenue is dismissed

ITA 1438/MUM/2021[2016-17]Status: DisposedITAT Mumbai14 Oct 2022AY 2016-17

Bench: Shri Pramod Kumar, Vice Preside & Shri Sandeep Singh Karhail

For Appellant: Shri Nimesh Vora a/wFor Respondent: Shri Chetan M. Kacha, Sr. AR
Section 115JSection 143Section 144C(3)Section 14ASection 250Section 250(6)Section 32Section 92CSection 92C(3)

…. 16. The brief facts pertaining to this issue are: For the year under consideration, assessee in its return has offered interest income on income tax refund of Rs. 266,45,06,765, following the Special Bench decision in Avada Trading Company (P) Ltd vs ACIT (100 ITD 131). The interest income on income tax refund was revised to Rs. 265,38,24,122 due to orders passed subsequently. During the course of assessment proceedings, the assessee was asked to show cause as to why interest on income tax refund ought not to be added to book profit under section 115 JB of the Act. In reply, assessee submitted that there was n…

MEHSANA DIST.CO.OP.MILK PRODUCERS UNION LTD.,,MEHSANA vs. THE DY.CIT., MEHSANA CIRCLE,, MEHSANA

In the result, appeal filed by the Assessee is allowed

ITA 97/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad07 Sept 2022AY 2008-09
For Appellant: Shri Ketan Shah, A.RFor Respondent: Shri V.K. Singh, Sr.D.R
Section 143(3)Section 244ASection 245Section 80P

…responsible for understatement of income. Once the income is proved to belong to the year in question, it has to be added as part of the total income. Here, I would like to refer to the decision of Mumbai ITAT, Special Bench in the case of Avada Trading Co., 100 ITD 131. In this case, it was decided that once a refund is granted to an assessee along with interest, the interest income accrues to the assessee even if the determination of interest has not become final. Therefore, the action of the AO of making addition of Rs. 30,49,742/- on account of interest on income Tax refund granted during the previous year r…

GRASIM INDUSTRIES LTD. vs. ADDL. CIT RANGE 6(3),

In the result, appeal filed by the assesse and revenue are partly allowed

ITA 4753/MUM/2004[2002-03]Status: DisposedITAT Mumbai14 Dec 2021AY 2002-03

Bench: Shri Saktijit Dey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blegrasim Industries Limited V. Addl. Cit, Range 6(3) Corporate Finance Division 5Th Floor, Room No. 505 Aditya Birla Centre “A” Wing Aayakar Bhavan 2Nd Floor, S.K. Ahire Marg, Worli Mumbai Mumbai-400025 Pan: Aaacg4464B Appellant Respondent Dy. Cit, Range 6(3), V. Grasim Industries Limited, 5Th Floor, Room No. 505, Corporate Finance Division, Aayakar Bhavan, Aditya Birla Centre, “A” Wing, Mumbai-20. 2Nd Floor, S.K. Ahire Marg Worli, Mumbai-400025 Pan: Aaacg4464B Appellant Respondent Assessee By : Shri J.D. Mistry Revenue By : Shri Sandeep Raj & Shri Vijay Kumar Menon

For Appellant: Shri J.D. MistryFor Respondent: Shri Sandeep Raj &
Section 143(3)Section 36(1)(vii)Section 43BSection 80Section 80H

…hdrawn as a result of the appellate orders should be given to the assessee and the interest subsequently withdrawn should not be taxed and for this, reliance was placed on the decision of the Tribunal in the case of Avada Trading Co. (P.) Ltd. vs. ACIT (2006) 100 ITD 131. 9. We have considered the rival contentions. As far as the taxability of interest amounting to Rs. 13,64,09,609/- is concerned, the same is assessable in the year in which the refund has been granted alongwith interest. However, if in the subsequent year refund of interest is withdrawn, then the same should be reduced from the total income of th…

DCIT 6(2)(1), MUMBAI vs. CEAT LTD, MUMBAI

In the result, appeal of the assessee is allowed, and departmental appeal is treated as infructuous

ITA 673/MUM/2017[2008-09]Status: DisposedITAT Mumbai22 Sept 2021AY 2008-09

Bench: Shri Shamim Yahya, Am & Shri Pavan Kumar Gadale, Jm Dcit-6(2)(1) M/S. Ceat Ltd. Room No.563, Aaykar Bhawan Rpg House, 463 M.K.Road, Churchgate Vs. Dr. Annie Besant Road, Worli Mumbai-400 020 Mumbai-400 030

For Appellant: Shri Vijay MehtaFor Respondent: Shri V. Sreekar & Shri Manprit Duggal
Section 143(3)Section 147Section 148Section 2Section 47

…03 crores. Since the same was confirmed by the DRP, assessee is aggrieved. 67. After considering the rival submissions, we are of the opinion that this issue has crystallized by the Special Bench of the ITAT in the case of Avada Trading Co. (P) Ltd vs. ACIT, 100 ITD 131 (Mum)SB, wherein in was held as under: “According to the charging provisions of sections 4 and 5, the income is chargeable in the year in which it either accrues or is received as the case may be. The issue regarding accrual of income is concluded by the judgment of the Supreme Court rendered in the case of E.D. Sassoon & Co. Ltd. v. CIT [1954]…

M/S. FIS SOLUTIONS (INDIA) PVT.LTD, (FROMERLY KNOWN AS SUNGARD SOLUTIONS INDIA PVT.LTD,),PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 1(2),, PUNE

In the result, appeal of the assessee is partly allowed for statistical purposes

ITA 1695/PUN/2018[2014-15]Status: DisposedITAT Pune04 Mar 2020AY 2014-15

Bench: Shri R.S.Syal, Vp & Shri Partha Sarathi Chaudhury, Jm आयकर अपीऱ सं. / Ita No. 1695/Pun/2018 नििाारण वषा / Assessment Year : 2014-15 M/S. Fis Solutions (India) Private Limited. Formerly Known As Sungard Solutions (India) Private Limited. Westend Centre One, Survey No. 169/1, Sector Ii, Aundh, Pune-411 007. Pan : Aaace7476K .......अऩीऱाथी / Appellant बिाम / V/S. The Deputy Commissioner Of Income Tax, Circle 1(2), Pune. ……प्रत्यथी / Respondent

For Appellant: Shri Gautam JainFor Respondent: Shri T.V. Bhaskar Reddy, CIT
Section 144C(5)

…of the earlier years then the interest on the refund amount if adjusted vis-à-vis those outstanding tax liability i.e. also deemed payment of interest. It has been held in the case of Avada Trading Co. (P.) Ltd. vs Assistant Commissioner Of Income Tax, (2006) 100 ITD 131 (Mum) that interest on refund under Section 244A(1) would be assessable in the year in which it is granted and not in the year in which proceedings under Section 143(1)(a) attain finality. The Special Bench of the Tribunal in this case on the issue has further held as follows: “9. The main contention of the assessee's counsel is that such right…

DCIT, NEW DELHI vs. M/S IRCON INTERNATIONAL LTD., NEW DELHI

In the result, all the three appeals of the assessee for A

ITA 3805/DEL/2008[2003-04]Status: DisposedITAT Delhi31 Oct 2019AY 2003-04

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…1825/Del/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 63 2234/Del/2005 & 3805/Del/2008 18.3 Before us, the Ld. Counsel of the assessee relied on the decision of the special bench of the Tribunal in the case of Avada Trading Company (P) Ltd Vs ACIT (2006) 100 ITD 131 wherein it is held that if interest under section 244A granted under section 143(1) is reduced on account of subsequent proceeding, the interest originally granted would be substituted by the reduced amount. Accordingly, the learned counsel submitted that in the present case, the interest originally granted has been reduced to Nil on completio…

IRCON INTERNATIONAL LTD.,,NEW DELHI vs. DCIT, CIRCLE-11(1),, DELHI

In the result, all the three appeals of the assessee for A

ITA 705/DEL/2006[2002-2003]Status: DisposedITAT Delhi31 Oct 2019AY 2002-2003

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…1825/Del/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 63 2234/Del/2005 & 3805/Del/2008 18.3 Before us, the Ld. Counsel of the assessee relied on the decision of the special bench of the Tribunal in the case of Avada Trading Company (P) Ltd Vs ACIT (2006) 100 ITD 131 wherein it is held that if interest under section 244A granted under section 143(1) is reduced on account of subsequent proceeding, the interest originally granted would be substituted by the reduced amount. Accordingly, the learned counsel submitted that in the present case, the interest originally granted has been reduced to Nil on completio…

DCIT, CIRCLE-11(1) vs. IRCON INTERNATIONAL LTD.,,

In the result, all the three appeals of the assessee for A

ITA 2234/DEL/2005[2001-2002]Status: DisposedITAT Delhi31 Oct 2019AY 2001-2002

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…1825/Del/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 63 2234/Del/2005 & 3805/Del/2008 18.3 Before us, the Ld. Counsel of the assessee relied on the decision of the special bench of the Tribunal in the case of Avada Trading Company (P) Ltd Vs ACIT (2006) 100 ITD 131 wherein it is held that if interest under section 244A granted under section 143(1) is reduced on account of subsequent proceeding, the interest originally granted would be substituted by the reduced amount. Accordingly, the learned counsel submitted that in the present case, the interest originally granted has been reduced to Nil on completio…

Showing 1–20 of 30 · Page 1 of 2

Avada Trading Company (P) Ltd. v. ACIT (100 ITD 131) — Cited in 30 Judgments | BharatTax