Calcutta Steel Co. Ltd. (1985) 153 ITR 488 (Cal) Jagatdal Jute and Industries Ltd. v. CIT & ANR.

M/S. Birla Edutech Ltd., Mumbai vs. ITO Ward-3(1)(2), Mumbai

In the result, the appeal of the assessee is allowed

…211 ITR 610 (Cal.) CIT v. Indian Steel And Wire Products Ltd. (1992) 192 ITR 252 (Cal) CIT v. Calcutta Steel Co. Ltd. (1985) 153 ITR 488 (Cal) Jagatdal Jute and Industries Ltd. v. CIT & ANR (2004) 266 ITR 587 (Cal) CIT v. Illy Lilly & Co India (P) Ltd (2011) 334 ITR 186 (Del) CIT v. Soora Subramanian (2010) 34 DTR 76 (Mad) CIT v. Haritha Seating System Ltd, (2011) (Tax Appeal No. 106 of 2008) (Mad) CIT v. New Central Jute Mills Co. Ltd (1976) 105 ITR 262 (CAL) CIT v. Hero Cycles Pvt. Ltd. (1997) 228 ITR 463 (SC) Deva Metal Powder (P) Ltd. v. Commissioner of Trade Uttar Pradesh (Appeal 19 A.Y. 2012-13 M/s. Birla…

Dcb Bank Ltd., Mumbai vs. ACIT 2 (3)(1), Mumbai

In the result, assessee’s appeal is allowed

Bench: Shri S. Rifaur Rahman & Shri Pavan Kumar Gadale

…fficer cannot pass a rectification order on the issue on which he passed a rectification order which itself is a debatable issue. For that process, he relied upon the decision of the Hon’ble Delhi High Court in CIT v/s Eli Lilly & Co., India Pvt. Ltd., [2011] 334 ITR 186 (Del.). Further he submitted that the assessee is a scheduled bank and the Assessing Officer has dealt with the issue under section 115JB of the Act and he submitted that the provisions of section 115JB of the Act are not applicable in case of a Bank. For that proposition, he relied upon the decision of the Hon'ble Jurisdictional High Court in CI…

Owens -Corning (India) P.Ltd, Mumbai vs. CIT 7, Mumbai

In the result, appeal of the assessee is allowed

Bench: Shri Mahavir Singh, Jm & Shri M.Balaganesh, Am M/S. Owens-Corning (India) Vs. The Commissioner Of Pvt. Ltd., (Formerly Known Income Tax-7 As Owens Corning ((India) Mumbai Ltd., Aayakar Bhavan Alpha Building, 7Th Floor Maharshi Karve Road Hiranandani Gardens Mumbai – 400 020 Powai, Mumbai – 400706 Pan/Gir No. Aaaco1739M (Appellant) .. (Respondent)

…ce of proportionality theory adopted by the assessee, which in our considered opinion, is rational and logical. We find that the Hon’ble Delhi High Court in the case of CIT vs Eli 10 M/s. Owens Corning (India) Pvt. Ltd Lilly & Co. India Pvt. Ltd. reported in 334 ITR 186 had occasion to consider the set off of unabsorbed business loss and unabsorbed depreciation as per books of accounts for computing book profits u/s.115JB of the Act which was sought to be corrected by the ld. AO in the proceedings u/s.154 of the Act, i.e. whether the said brought forward loss could be the subject matter of rectification proceedi…