Bajaj Tempo Ltd. v. CIT

196 ITR 188Supreme Court of India1992#272 most cited

What is Bajaj Tempo Ltd. v. CIT authority for?

Provisions in taxing statutes that grant incentives, concessions, or exemptions for promoting economic growth and industrialization must be interpreted liberally and purposively. Any restrictions placed on such provisions should also be construed reasonably to advance their objective, not frustrate it.

289

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2004 to 2026.

Also referred to as

Bajaj Tempo v. CIT · liberal interpretation · incentive provisions · economic growth · Section 32(1)(iia) · additional depreciation · Section 80IA · Section 80HHC · deduction provisions · tax exemptions · purposive construction

Also reported as

62 Taxmann 4803 SCC 78

Sections most often in play

Section 143(3)Section 80IASection 143(1)Section 80HHCSection 139(1)Section 80IBSection 10BSection 263

Issues it is cited on

section 32(1)(iia)section 80hhsection 80ia(4)section 80hhcdeduction under section 80iainfrastructure facilitydeduction u/s 80iatax benefitadditional depreciationsection 80iasection 80asection 80i

Judgments citing Bajaj Tempo Ltd. v. CIT

Meenakshi (India) Limited, Chennai vs. ACIT, Chennai

In the result, the appeal of the assessee is allowed

ITA 206/CHNY/2016[2012-13]Status: DisposedITAT Chennai07 Apr 2016AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.206/Mds/2016 "नधा"रण वष" / Assessment Year : 2012-13 M/S Meenakshi (India) Limited, The Assistant Commissioner Of C/O Shri T.N. Seetharaman, V. Income Tax, Advocate, Corporate Circle – 4(1), #384 (Old No.196), Lloyds Road, Chennai - 600 034. Chennai - 600 086. Pan : Aaacm 5386 Q (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri R. Kumar, AdvocateFor Respondent: Sh. A.B. Koli, JCIT
Section 32(1)(iia)

…up of unabsorbed depreciation. This additional benefit in the form of additional allowance u/s 32(1)(iia) is one time benefit to encourage the industrialization and in view of the decision of Hon'ble Supreme Court in the case of Bajaj Tempo Ltd. v. CIT [1992] 196 ITR 188, the provisions related to it have to be construed reasonably, liberally and purposive to make the provision meaningful while granting the additional allowance. This additional benefit is to give impetus to industrialization and the basic intention and purpose of these provisions can be reasonably and liberally held that the assessee deserves to…

Rustom Homi Vakil, Mumbai vs. ACIT Cir 12(3), Mumbai

In the result, the appeal filed by the assessee in ITA N0

ITA 4450/MUM/2014[2009-10]Status: DisposedITAT Mumbai30 Mar 2016AY 2009-10

Bench: Shri Amit Shukla & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.4450/Mum/2014 ("नधा"रण वष" / Assessment Year : 2009-10) Rustom Homi Vakil Acit 12(3) बनाम/ Flat No 27, Aaykar Bhawan V. 107,Maison Belvedre New Marine Lines Maharshi Karve Road Mumbai-400 020 Mumbai-400 020 "थायी लेखा सं./Pan :Aabpv1053F (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

For Appellant: Mr. Mahesh C. MathurFor Respondent: Mr. B S Bist, Sr. DR
Section 143(2)Section 143(3)Section 250Section 54Section 54(1)(i)

…आयकर अपील"य अ"धकरण “D” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. No.4450/Mum/2014 ("नधा"रण वष" / Assessment Year : 2009-10) Rustom Homi Vakil ACIT 12(3) बनाम/ Flat No 27, Aaykar Bhawan v. 107,Maison Belvedre New Marine Lines Maharshi Karve Road Mumbai-400 020 Mumbai-400 020 "थायी लेखा सं./PAN :AABPV1053F (अपीलाथ" /Appellant) .. (""यथ" / Respondent) Assessee by : Mr. Mahesh C. Mathur Revenue by : Mr. B S Bist, Sr. DR सुनवाई क" तार"ख /Date of Hearing : 02-02-2016 घोषणा क" तार"ख /…

Jt. CIT. Cir.RG.8(2)(OSD), Mumbai vs. M/S. Lotus Energy (India) Ltd., Mumbai

In the result, the appeal filed by the Revenue in ITA No

ITA 7530/MUM/2011[2006-07]Status: DisposedITAT Mumbai30 Mar 2016AY 2006-07

Bench: Shri Amit Shukla & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 7530/Mum/2011 ("नधा"रण वष" / Assessment Year : 2006-07) Jt. Cit Cir. 8(2), M/S Lotus Energy (India) बनाम/ R. No. 216-A, Ltd., V. Aayakar Bhavan, 214, Laxmi Plaza, M.K. Road, Laxmi Industrial Estate, Mumbai -. Andheri (W), Mumbai 53. "थायी लेखा सं./Pan : Aabcl 0119K (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

Section 32Section 32(1)Section 32(1)(iia)

…आयकर अपील"य अ"धकरण “A” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. No. 7530/Mum/2011 ("नधा"रण वष" / Assessment Year : 2006-07) Jt. CIT Cir. 8(2), M/s Lotus Energy (India) बनाम/ R. No. 216-A, Ltd., v. Aayakar Bhavan, 214, Laxmi Plaza, M.K. Road, Laxmi Industrial Estate, Mumbai -. Andheri (W), Mumbai 53. "थायी लेखा सं./PAN : AABCL 0119K (अपीलाथ" /Appellant) .. (""यथ" / Respondent) Revenue by Shri Ganesh Bare (Sr.DR) Assessee by Shri Rushabh Mehta सुनवाई क" तार"ख /Date of Hearing :…

Neelkanth Palm Realty, Mumbai vs. Addl CIT RG 15(3), Mumbai

The appeal of the assessee is allowed for statistical purposes

ITA 7900/MUM/2011[2008-09]Status: DisposedITAT Mumbai03 Mar 2016AY 2008-09

Bench: Shri Joginder Singh & Shri Sanjay Aroraassessment Year:2008-09 M/S Neelkanth Palm Addl.Cit, Realty Fine House, Range-(15)(3), Anandji Lane, 5Th Floor, Matru Mandir, M.G. Road, Ghatkopar (E), Tardeo Road, Mumbai-400077 Mumbai ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaefn5224B

Section 143(3)Section 80I

…ch is the subject matter of exemption, is found, on such construction, to be within the ambit of the provision, that a liberal approach is to be adopted toward effectuating the object of the provision, for which we may refer to Bajaj Tempo Ltd. vs. CIT [1992] 196 ITR 188 (SC) relied upon by the tribunal in the various orders, as far as appears on a reading of their extracts as listed in the tribunal’s order for A.Y. 2007-08 (supra). The interpretation is also in accord with a purposive and liberal approach, advocated by the apex court in, inter alia, Bajaj Tempo Ltd. (supra). The provision being an incentive prov…

M/S. Fiberfill Engineers, New Delhi vs. ACIT, New Delhi

Appeal is allowed

ITA 1853/DEL/2015[2010-11]Status: DisposedITAT Delhi25 Feb 2016AY 2010-11

Bench: Shri S.V. Mehrotra : & Shri A.T. Varkey:Asstt. Yr: 2010-11 M/S Fiberfill Engineers Vs. Acit Circle 38(1), C-9/9574, Vasant Kunj, New Delhi. New Delhi-110070. (New Circle 63(1),Civic Centre, New Delhi. Pan: Aaaff 6313 P ( Appellant ) (Respondent) Appellant By : Shri Gautam Jain Adv. P. Kamal Adv. Respondent By : Smt. Rehka Vimal Dr Date Of Hearing : 03/02/2016. Date Of Order : 25/02/2016. O R D E R Per S.V. Mehrotra, A.M:

For Appellant: Shri Gautam Jain AdvFor Respondent: Smt. Rehka Vimal DR
Section 139Section 139(1)Section 139(4)Section 22(1)Section 22(3)Section 54Section 80Section 80ISection 80l

…2011 dated 25.1.2012). In this case the assessee’s claim u/s 80IC was allowed because assessee had filed all the supporting documents for claiming deduction u/s 80IC before due date of filing of return but the return was filed late. - Bajaj Tempo Ltd. vs. CIT 196 ITR 188 (SC), wherein it has been, inter alia, held that particular provision in a taxing statute granting incentives for prompting growth and development should be construed liberally. - Polyhose India Pvt. Ltd. Vs. Department of Income Tax 30.06.1911 in ITA no. 122/Mds/2011). - Rambagh Palace Hotel (P) Ltd. Vs. DCIT 2.9.2012 87 ITD 163 (Delo.). 5. On t…

Hinduja Foundries Ltd., Chennai vs. ACIT, Chennai

In the result, I.T.A. Nos

ITA 1593/CHNY/2015[2010-11]Status: DisposedITAT Chennai19 Feb 2016AY 2010-11

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1590, 1591, 1592 & 1593/Mds/2015 "नधा"रण वष" / Assessment Years : 2006-07, 2007-08, 2009-10 & 2010-11

For Appellant: Sh. R. Vijayaraghavan, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT
Section 32(1)(ii)

…up of unabsorbed depreciation. This additional benefit in the form of additional allowance u/s 32(1)(iia) is one time benefit to encourage the industrialization and in view of the decision of Hon'ble Supreme Court in the case of Bajaj Tempo Ltd. v. CIT [1992] 196 ITR 188, the provisions related to it have to be construed reasonably, liberally and purposive to make the provision meaningful while granting the additional allowance. This additional benefit is to give impetus to industrialization and the basic intention and purpose of these provisions can be reasonably and liberally held that the assessee deserves to…

Hinduja Foundries Ltd., Chennai vs. ACIT, Chennai

In the result, I.T.A. Nos

ITA 1592/CHNY/2015[2009-10]Status: DisposedITAT Chennai19 Feb 2016AY 2009-10

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1590, 1591, 1592 & 1593/Mds/2015 "नधा"रण वष" / Assessment Years : 2006-07, 2007-08, 2009-10 & 2010-11

For Appellant: Sh. R. Vijayaraghavan, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT
Section 32(1)(ii)

…up of unabsorbed depreciation. This additional benefit in the form of additional allowance u/s 32(1)(iia) is one time benefit to encourage the industrialization and in view of the decision of Hon'ble Supreme Court in the case of Bajaj Tempo Ltd. v. CIT [1992] 196 ITR 188, the provisions related to it have to be construed reasonably, liberally and purposive to make the provision meaningful while granting the additional allowance. This additional benefit is to give impetus to industrialization and the basic intention and purpose of these provisions can be reasonably and liberally held that the assessee deserves to…

Hinduja Foundries Ltd., Chennai vs. ACIT, Chennai

In the result, I.T.A. Nos

ITA 1591/CHNY/2015[2007-08]Status: DisposedITAT Chennai19 Feb 2016AY 2007-08

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1590, 1591, 1592 & 1593/Mds/2015 "नधा"रण वष" / Assessment Years : 2006-07, 2007-08, 2009-10 & 2010-11

For Appellant: Sh. R. Vijayaraghavan, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT
Section 32(1)(ii)

…up of unabsorbed depreciation. This additional benefit in the form of additional allowance u/s 32(1)(iia) is one time benefit to encourage the industrialization and in view of the decision of Hon'ble Supreme Court in the case of Bajaj Tempo Ltd. v. CIT [1992] 196 ITR 188, the provisions related to it have to be construed reasonably, liberally and purposive to make the provision meaningful while granting the additional allowance. This additional benefit is to give impetus to industrialization and the basic intention and purpose of these provisions can be reasonably and liberally held that the assessee deserves to…

Hinduja Foundries Ltd., Chennai vs. ACIT, Chennai

In the result, I.T.A. Nos

ITA 1590/CHNY/2015[2006-07]Status: DisposedITAT Chennai19 Feb 2016AY 2006-07

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita Nos.1590, 1591, 1592 & 1593/Mds/2015 "नधा"रण वष" / Assessment Years : 2006-07, 2007-08, 2009-10 & 2010-11

For Appellant: Sh. R. Vijayaraghavan, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT
Section 32(1)(ii)

…up of unabsorbed depreciation. This additional benefit in the form of additional allowance u/s 32(1)(iia) is one time benefit to encourage the industrialization and in view of the decision of Hon'ble Supreme Court in the case of Bajaj Tempo Ltd. v. CIT [1992] 196 ITR 188, the provisions related to it have to be construed reasonably, liberally and purposive to make the provision meaningful while granting the additional allowance. This additional benefit is to give impetus to industrialization and the basic intention and purpose of these provisions can be reasonably and liberally held that the assessee deserves to…

Principal Commissioner of Income Tax-5 vs. M/s. VBC Industries Limited

ITTA/559/2015HC Telangana16 Feb 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Automotive Coaches & Components Ltd., Chennai vs. DCIT, Chennai

In the result, the appeal of the assessee is allowed

ITA 1789/CHNY/2014[2008-09]Status: DisposedITAT Chennai12 Feb 2016AY 2008-09

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1789/Mds/2014 "नधा"रण वष" / Assessment Year : 2008-09 M/S Automotive Coaches & The Deputy Commissioner Of Components Ltd., V. Income Tax, C1 & D6 Sipcot Industrial Company Circle – I, Complex, Chennai - 600 034. Gummidipoondi – 601 201. Pan : Aaaca 3150 E (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Sh. R. Vijayaraghavan, AdvocateFor Respondent: Shri A.V. Sreekanth, JCIT
Section 32(1)Section 32(1)(iia)

…on. This additional benefit in the form of additional allowance u/s 32(1)(iia) is one time benefit to encourage the industrialization and in view of the decision 8 I.T.A. No.1789/Mds/14 of Hon'ble Supreme Court in the case of Bajaj Tempo Ltd. v. CIT [1992] 196 ITR 188, the provisions related to it have to be construed reasonably, liberally and purposive to make the provision meaningful while granting the additional allowance. This additional benefit is to give impetus to industrialization and the basic intention and purpose of these provisions can be reasonably and liberally held that the assessee deserves to…

DCIT, New Delhi vs. M/S. Bharat Sanchar Nigam Ltd., New Delhi

In the result, assessee’s appeal is allowed to the extent as mentioned above on the preliminary issue and the departmental appeal is dismissed

ITA 3386/DEL/2010[2004-05]Status: DisposedITAT Delhi23 Dec 2015AY 2004-05

Bench: Smt Diva Singh & Sh.J.S.Reddyi.T.A .No.-3304/Del/2010 (Assessment Year-2004-05) Bharat Sanchar Nigam Ltd., Vs Dcit, Corporate Office, Taxation Section, Circle-2(1), Room No.-398, First Floor, Bharat Sanchar Bhawan, C.R.Building, I.P.Estate, Janpath, New Delhi-1110001. New Delhi Pan-Aabcb5576G (Appellant) (Respondent)

Section 143(1)Section 143(3)Section 154Section 263Section 80Section 80I

…by the Courts that the provisions for deduction should be interpreted liberally, reasonably and in favour of the assessee and it should be construed to give effect the object of the legislature and not to defeat it. Reliance was placed upon Bajaj Tempo vs CIT 196 ITR 188; Mysore Minerals vs CIT 239 ITR 775; CIT, Madras vs South Arcot District Co- operative Marketing Society Ltd. 176 ITR 117. 8.26. Inviting attention to sub-section (2A) it was submitted that the legislature has used the words “shall” in the sub-section (2A) and accordingly it makes the said sub-section mandatory for the Revenue Authorities. Inviti…

Bharat Sanchar Nigam Ltd., New Delhi vs. DCIT, New Delhi

In the result, assessee’s appeal is allowed to the extent as mentioned above on the preliminary issue and the departmental appeal is dismissed

ITA 3304/DEL/2010[2004-05]Status: DisposedITAT Delhi23 Dec 2015AY 2004-05

Bench: Smt Diva Singh & Sh.J.S.Reddyi.T.A .No.-3304/Del/2010 (Assessment Year-2004-05) Bharat Sanchar Nigam Ltd., Vs Dcit, Corporate Office, Taxation Section, Circle-2(1), Room No.-398, First Floor, Bharat Sanchar Bhawan, C.R.Building, I.P.Estate, Janpath, New Delhi-1110001. New Delhi Pan-Aabcb5576G (Appellant) (Respondent)

Section 143(1)Section 143(3)Section 154Section 263Section 80Section 80I

…by the Courts that the provisions for deduction should be interpreted liberally, reasonably and in favour of the assessee and it should be construed to give effect the object of the legislature and not to defeat it. Reliance was placed upon Bajaj Tempo vs CIT 196 ITR 188; Mysore Minerals vs CIT 239 ITR 775; CIT, Madras vs South Arcot District Co- operative Marketing Society Ltd. 176 ITR 117. 8.26. Inviting attention to sub-section (2A) it was submitted that the legislature has used the words “shall” in the sub-section (2A) and accordingly it makes the said sub-section mandatory for the Revenue Authorities. Inviti…

Somnath Kundu, Kolkata vs. D.C.I.T Cir - 7, Kolkata.

In the result, assessee’s appeal is allowed

ITA 680/KOL/2013[2008-2009]Status: DisposedITAT Kolkata11 Dec 2015AY 2008-2009

Bench: Shri N.V. Vasudevan & Shri Waseem Ahmedassessment Year :2008-09

Section 10ASection 143(3)

…e introduced by legislature in order to promote exports of computer software, It enabled services and therefore, the same has to be construed liberally. It has been held by Hon'ble Supreme Court in the case of Bajaj Tempo Tempo Ltd. Vs. CIT reported in (1992) 196 ITR 188 (SC) “A provisions in a taxiing statue granting incentives for promoting growth and development should be construed liberally; and since a provision for promoting economic growth has to be interpreted liberally, the restriction on it too has to be construed so as to advance the objective of the provision and not to frustrate it.” 5.9 In view of…

DCIT, New Delhi vs. M/S. Omaxe Buildhome (P) Ltd., New Delhi

ITA 5373/DEL/2013[2007-08]Status: DisposedITAT Delhi12 Nov 2015AY 2007-08

Bench: Shri I.C. Sudhir & Shri Laxmi Prasad Sahu Assessment Year : 2008-09 Deputy Cit, Vs. M/S. Omaxe Ltd., Central Circle-4, 7-Lsc, Omaxe House, New Delhi. Kalkaji, New Delhi. (Pan: Aaaco0171H) (Appellant) (Respondent) Assessment Year: 2008-09 M/S. Omaxe Ltd., Vs. Deputy Cit, 7-Lsc, Omaxe House, Central Circle-4, Kalkaji, New Delhi. New Delhi. (Pan: Aaaco0171H) (Appellant) (Respondent)

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Shri R.L. Meena, CIT(DR)
Section 10ISection 4Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH “E” NEW DELHI) BEFORE SHRI I.C. SUDHIR AND SHRI LAXMI PRASAD SAHU Assessment year : 2008-09 Deputy CIT, vs. M/s. Omaxe Ltd., Central Circle-4, 7-LSC, Omaxe House, New Delhi. Kalkaji, New Delhi. (PAN: AAACO0171H) (Appellant) (Respondent) Assessment Year: 2008-09 M/s. Omaxe Ltd., Vs. Deputy CIT, 7-LSC, Omaxe House, Central Circle-4, Kalkaji, New Delhi. New Delhi. (PAN: AAACO0171H) (Appellant) (Respondent) ITA Nos. 5373, 4031 &4032 Assessment Years: 2007-08, 2008-09 & 2009-10 Deputy CIT, vs. M/s. Omaxe Buildhome (P) Ltd., Central Circle-4, 10-LSC, Omaxe Hous…

Asst CIT Cir 3, Thane vs. Vikram Builders, Thane

The appeals of the Revenue are dismissed

ITA 2081/MUM/2012[2008-09]Status: DisposedITAT Mumbai28 Oct 2015AY 2008-09

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2005-06 Asst. Commissioner Of M/S Vikram Builders Income-Tax, Circle-3, Manisha Building, Opp. बनाम/ ‘Vardaan’Lower Ground Maruti Mandir, Kalwa, Vs. Floor, Midc, Wagle Indl. Thane Estate, Thane, (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaafv8941K Assessment Year: 2008-09 Asst. Commissioner Of M/S Vikram Builders Income-Tax, Circle-3, Manisha Building, Opp. बनाम/ ‘Vardaan’Lower Ground Maruti Mandir, Kalwa, Vs. Floor, Midc, Wagle Indl. Thane Estate, Thane, (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaafv8941K

Section 143(3)Section 147Section 80I

…plan got amended on 28/10/2004 to include building C and part completion certificate in respect of building A & B were obtained on 28/12/2005 and 14/02/2007. The decision in Saroj Sales Organisation vs ITO (2008) 115 TTJ (Mum.) 485 and Bajaj Tempo Ltd. vs CIT 196 ITR 188 (SC), holding that “the provisions in the taxing statute, granting incentives, for promoting growth and development should be construed liberally so as to advance the objective of the provision and not to frustrate it” were considered and found that the original plan which was approved on 06/10/2000 was for construction of buildings A & B and bui…

ACIT Cir 3, Thane vs. Vikram Builders, Thane

The appeals of the Revenue are dismissed

ITA 8607/MUM/2010[2005-06]Status: DisposedITAT Mumbai28 Oct 2015AY 2005-06

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2005-06 Asst. Commissioner Of M/S Vikram Builders Income-Tax, Circle-3, Manisha Building, Opp. बनाम/ ‘Vardaan’Lower Ground Maruti Mandir, Kalwa, Vs. Floor, Midc, Wagle Indl. Thane Estate, Thane, (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaafv8941K Assessment Year: 2008-09 Asst. Commissioner Of M/S Vikram Builders Income-Tax, Circle-3, Manisha Building, Opp. बनाम/ ‘Vardaan’Lower Ground Maruti Mandir, Kalwa, Vs. Floor, Midc, Wagle Indl. Thane Estate, Thane, (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaafv8941K

Section 143(3)Section 147Section 80I

…plan got amended on 28/10/2004 to include building C and part completion certificate in respect of building A & B were obtained on 28/12/2005 and 14/02/2007. The decision in Saroj Sales Organisation vs ITO (2008) 115 TTJ (Mum.) 485 and Bajaj Tempo Ltd. vs CIT 196 ITR 188 (SC), holding that “the provisions in the taxing statute, granting incentives, for promoting growth and development should be construed liberally so as to advance the objective of the provision and not to frustrate it” were considered and found that the original plan which was approved on 06/10/2000 was for construction of buildings A & B and bui…

Somnath Kundu, Kolkata vs. ITO, Ward - 7(2), Kolkata

In the result, the appeal of the assessee stands allowed

ITA 1209/KOL/2011[2007-08]Status: DisposedITAT Kolkata15 Sept 2015AY 2007-08

Bench: : Shri Mahavir Singh & Shri M. Balaganesh

For Appellant: Shri Soumitra Choudhuury, Advocate, ld.ARFor Respondent: Shri Apurba Kr. Das,JCIT, Sr.DR
Section 10ASection 143(3)

…special incentive introduced by legislature in order to promote exports of computer software, IT enabled services and therefore, the same has to be construed liberally. It has been held by Hon’ble SC in the case of Bajaj Tempo Ltd Vs. CIT reported in ( 1992) 196 ITR 188(SC) “A provision in ITA No.1209/Kol/2011- 5 A-AM Somnath Kundu a taxing statute granting incentives for promoting growth and development should be construed liberally; and since a provision for promoting economic growth has to be interpreted liberally, the restriction on it too has to be construed so as to advance the objective of the provisio…

Assistant Commissioner of Income Tax, Bangalore vs. Sri Srinivasan Radhesh, Bangalore

In the result, Revenue’s appeal for Assessment Year 2010-11 is dismissed

ITA 1151/BANG/2014[2010-11]Status: DisposedITAT Bangalore24 Jul 2015AY 2010-11
For Appellant: Shri P. Dhivahar, JCIT (D.R)For Respondent: Shri B.M. Manjunath, C.A
Section 143(1)Section 143(3)Section 260ASection 54E

…onstrued liberally in order to advance the objective and not to frustrate it. (i) CIT Vs. Gwalior Rayon Silk Manufacturing Co. Ltd. (196 ITR 149)(SC) 8 Shri Srinivasan Radhesh (ii) CIT Vs. Vegetable Products Ltd. ( 88 ITR 192) (iii) Bajaj Tempo Ltd. Vs. CIT (196 ITR 188)(SC) Taking into consideration the overall facts and circumstances of the case, the CBDT’s Circular No.3/2008, and the principles laid down by the Hon'ble Apex Court for interpreting statutes, we are of the considered view that it would be in the fitness of things, to follow the decision of the ITAT, Ahmedabad Bench in the case of Aspi Ginwala &…

Smt. Neena Krishna Menon, Bangalore vs. CIT, Bangalore

In the result, the appeal by the assessee is allowed

ITA 578/BANG/2014[2009-10]Status: DisposedITAT Bangalore05 Mar 2015AY 2009-10

Bench: Shri N.V. Vasudevan & Shri Jason P. Boazassessment Year : 2009-10

For Appellant: Shri K. Kotresh, C.AFor Respondent: Shri Farahat Hussain Qureshi, CIT-II(DR)
Section 143(3)Section 263Section 54E

…ption or relief are to be construed liberally in order to advance the objective and not to frustrate it. (i) CIT Vs. Gwalior Rayon Silk Manufacturing Co. Ltd. (196 ITR 149)(SC) (ii) CIT Vs. Vegetable Products Ltd. ( 88 ITR 192) (iii) Bajaj Tempo Ltd. Vs. CIT (196 ITR 188)(SC) 17 Taking into consideration the overall facts and circumstances of the case, the CBDT’s Circular No.3/2008, and the principles laid down by the Hon'ble Apex Court for interpreting statutes, we are of the considered view that it would be in the fitness of things, to follow the decision of the ITAT, Ahmedabad Bench in the case of Aspi Ginwala…