Bajaj Auto Ltd. v. CIT

389 ITR 259High Court2016#12728 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 348,607 Indian tax judgments — from 2017 to 2025.

Sections most often in play

Section 10(20)Section 11Section 12ASection 12AASection 143(3)Section 145Section 263Section 36(1)(iv)

Issues it is cited on

recognised provident fundapproved superannuation fundsection 11 exemptionsection 80j(6a)section 12a(b)section 10(22)approved gratuity fundsection 36(1)(v)section 139(4a)section 10(20)section 12a(a)section 12a(1)(b)

Judgments citing Bajaj Auto Ltd. v. CIT

Deputy Commissioner of Income-Tax vs. The Jawaharlal Nehru Port Trust, Raigad

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 545/PUN/2016[2005-06]Status: DisposedITAT Pune30 Sept 2025AY 2005-06

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…d. The Tribunal was, therefore, not justified in giving direction to revise and determine the value of the opening stock also by excluding all overhead expenses.” 92. We find Hon’ble Bombay High Court in the case of Bajaj Auto Ltd. vs. CIT reported in (2016) 389 ITR 259 (Bom) has held that where the assessee-company changed method of valuation of its closing stock from 'lowest price during year' method to 'weighted average cost method’, as changed method accords with international standards and more scientific and same was followed regularly, such change was justified. The relevant observations of the Hon’ble Hi…

Deputy Commissioner of Income-Tax vs. The Jawaharlal Nehru Port Trust, Raigad

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 544/PUN/2016[2004-05]Status: DisposedITAT Pune30 Sept 2025AY 2004-05

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…d. The Tribunal was, therefore, not justified in giving direction to revise and determine the value of the opening stock also by excluding all overhead expenses.” 92. We find Hon’ble Bombay High Court in the case of Bajaj Auto Ltd. vs. CIT reported in (2016) 389 ITR 259 (Bom) has held that where the assessee-company changed method of valuation of its closing stock from 'lowest price during year' method to 'weighted average cost method’, as changed method accords with international standards and more scientific and same was followed regularly, such change was justified. The relevant observations of the Hon’ble Hi…

Deputy Commissioner of Income-Tax vs. The Jawaharlal Nehru Port Trust, Raigad

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 543/PUN/2016[2003-04]Status: DisposedITAT Pune30 Sept 2025AY 2003-04

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…d. The Tribunal was, therefore, not justified in giving direction to revise and determine the value of the opening stock also by excluding all overhead expenses.” 92. We find Hon’ble Bombay High Court in the case of Bajaj Auto Ltd. vs. CIT reported in (2016) 389 ITR 259 (Bom) has held that where the assessee-company changed method of valuation of its closing stock from 'lowest price during year' method to 'weighted average cost method’, as changed method accords with international standards and more scientific and same was followed regularly, such change was justified. The relevant observations of the Hon’ble Hi…

Jawahar Lal Nehru Port Trust, Navi Mumbai vs. ACIT Panvel, Panvel

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 1155/MUM/2016[2004-05]Status: DisposedITAT Pune30 Sept 2025AY 2004-05

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…d. The Tribunal was, therefore, not justified in giving direction to revise and determine the value of the opening stock also by excluding all overhead expenses.” 92. We find Hon’ble Bombay High Court in the case of Bajaj Auto Ltd. vs. CIT reported in (2016) 389 ITR 259 (Bom) has held that where the assessee-company changed method of valuation of its closing stock from 'lowest price during year' method to 'weighted average cost method’, as changed method accords with international standards and more scientific and same was followed regularly, such change was justified. The relevant observations of the Hon’ble Hi…

Jawahar Lal Nehru Port Trust, Navi Mumbai vs. ACIT Panvel, Panvel

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 1154/MUM/2016[2005-06]Status: DisposedITAT Pune30 Sept 2025AY 2005-06

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…d. The Tribunal was, therefore, not justified in giving direction to revise and determine the value of the opening stock also by excluding all overhead expenses.” 92. We find Hon’ble Bombay High Court in the case of Bajaj Auto Ltd. vs. CIT reported in (2016) 389 ITR 259 (Bom) has held that where the assessee-company changed method of valuation of its closing stock from 'lowest price during year' method to 'weighted average cost method’, as changed method accords with international standards and more scientific and same was followed regularly, such change was justified. The relevant observations of the Hon’ble Hi…

Jawahar Lal Nehru Port Trust, Navi Mumbai vs. ACIT Panvel, Panvel

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 1153/MUM/2016[2003-04]Status: DisposedITAT Pune30 Sept 2025AY 2003-04

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…d. The Tribunal was, therefore, not justified in giving direction to revise and determine the value of the opening stock also by excluding all overhead expenses.” 92. We find Hon’ble Bombay High Court in the case of Bajaj Auto Ltd. vs. CIT reported in (2016) 389 ITR 259 (Bom) has held that where the assessee-company changed method of valuation of its closing stock from 'lowest price during year' method to 'weighted average cost method’, as changed method accords with international standards and more scientific and same was followed regularly, such change was justified. The relevant observations of the Hon’ble Hi…

M/S Ekta Housing Pvt. Ltd., Mumbai vs. Dy. CIT Central Circle-6(2), Mumbai

The appeal of the revenue is dismissed

ITA 1732/MUM/2019[2013-14]Status: DisposedITAT Mumbai24 May 2021AY 2013-14

Bench: Shri S.Rifaur Rahman () & Shri Ravish Sood ()

…de reason and such new method of accounting is thereafter regularly employed by the assessee, no fault can be found with the same. Our aforesaid viewis fortified by the judgment of the Hon‟ble High Court of Bombay in the case of Bajaj Auto Ltd. Vs. CIT (2016) 389 ITR 259 (Bom).Also, the Hon‟ble High Court of Bombay in its earlier judgment passed in the case of Melmould Corporation Vs. Commissioner of Income Tax, 202 ITR 789 (Bom), relying on the decision of Karnataka High Court in Commissioner of Income Tax Vs. Corporation Bank Ltd. (1988) 174 ITR 616 (Kar) had held that where the change in the method of accounti…

Sbi Capitalmarkets Ltd vs. DCIT Sp. RG 27

The appeal of the AO stands dismissed

ITA 294/MUM/1999[1994-95]Status: DisposedITAT Mumbai27 Oct 2017AY 1994-95
For Appellant: Shri Nitesh Joshi-ARFor Respondent: Shri BCS Naik-CIT-DR & Saurabh Kumar Rai
Section 254(1)

…आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण, , , , मुंबई आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण मुंबई मुंबई “आई मुंबई आई आई ” ” ” ” खंडपीठ आई खंडपीठ खंडपीठ खंडपीठ Income-tax Appellate Tribunal “I”Bench Mumbai सव"ी सव"ी सव"ी राजे"" सव"ी राजे"" राजे"", लेखा राजे"" लेखा लेखा सद"य लेखा सद"य सद"य एवं सद"य एवं एवं रिवश सूद एवं रिवश सूद रिवश सूद, "याियक रिवश सूद "याियक "याियक सद"य "याियक सद"य सद"य सद"य Before S/Sh. Rajendra,Accountant Member & Ravish Sood, Judicial Member आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./I.T.A./1380/Mum/1999, िनधा"रण अपील िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" /Assessment Year: 1995-96 वष" आयकर आयक…

Bajaj Auto Ltd. v. CIT (389 ITR 259) — Cited in 8 Judgments | BharatTax