Cambay Electric Supply Industrial Co. Ltd. v. CIT

113 ITR 84Supreme Court of India1978#355 most cited

What is Cambay Electric Supply Industrial Co. Ltd. v. CIT authority for?

The expression "attributable to" is wider in scope and import than the expression "derived from" when interpreting provisions related to profits and gains from a business or industrial undertaking. The legislature's deliberate use of these distinct phrases indicates a nuanced intent regarding the directness of the nexus between income and the source.

245

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 1999 to 2026.

Also referred to as

Cambay Electric Supply Industrial Co. Ltd. v. CIT · 113 ITR 84 · Section 80P · derived from · attributable to · scope of expressions · profits and gains · business income attribution · industrial undertaking income · income interpretation · direct nexus

Sections most often in play

Section 80P(2)(a)(i)Section 143(3)Section 80P(2)(d)Section 80PSection 250Section 263Section 56Section 2(19)
Read the full judgment

Issues it is cited on

section 57(i)section 80(2)(d)section 80(p)(2)(a)section 286section 161section 80p(2)(a)(iii)section 80p(2)(c)section 60section 80jinterest on securitiessection 80p(1)section 2(19)

Judgments citing Cambay Electric Supply Industrial Co. Ltd. v. CIT

Npc Employees Co Operative Credit Society Ltd, Mumbai vs. Income Tax Officer, Mumbai

In the result the solitary ground of appeal of the assessee is allowed

ITA 89/MUM/2024[2020-2021]Status: DisposedITAT Mumbai27 Jun 2024AY 2020-2021

Bench: Shri Prashant Maharishi (Am) I.T.A. No. 89/Mum/2024 (A.Y. 2020-21) Npc Employees Vs. Ito Ward 27(2)(1) Cooperative Credit Vashi Railway Society Limited Station, 4Th Floor Vikram Sarabhai Vashi, Navi Bhavan, South Wing Mumbai-400 703. 6Th Floor, Trombay Mumbai-400 094. Pan : Aaban0550E (Appellant) (Respondent) Assessee By Shri Sushant N. Alme Department By Shri R.R. Makwana Date Of Hearing 05.06.2024 Date Of Pronouncement 27.06.2024 O R D E R 1. This Appeal Is Filed By Npc Employees Cooperative Credit Society Ltd Mumbai (The Assessee/Appellant) For Assessment Year 2020 – 2021 Against The Appellate Order Passed By The National Faceless Appeal Centre (Nfac), Delhi (The Learned Cit – A) Dated 29/11/2023 Wherein The Appeal Filed By The Assessee Against The Assessment Order Passed By The Faceless Appeal Centre On 19/9/2022 Under Section 143 (3) Of The Income Tax Act, 1961 Was Dismissed. 2. The Only Dispute In This Appeal Is That Assessee Has Invested Surplus Amount In Fixed Deposits With State Bank Of India & Earned Interest Of ₹ 1,176,084/–. The Assessee Claimed Deduction Under Section 80 (P) (2) Of The Act Which Was Denied To The Assessee & Is Contested In This Appeal. 3. The Brief Facts Of The Case Shows That Assessee Is A Co-Operative Society Registered Under The Maharashtra State Cooperative Societies Act, 1961 Page 1 Of 6

Section 143Section 144Section 80

…IN THE INCOME TAX APPELLATE TRIBUNAL Mumbai “SMC” Bench, Mumbai. Before Shri Prashant Maharishi (AM) I.T.A. No. 89/Mum/2024 (A.Y. 2020-21) NPC Employees Vs. ITO Ward 27(2)(1) Cooperative Credit Vashi Railway Society Limited Station, 4th floor Vikram Sarabhai Vashi, Navi Bhavan, South Wing Mumbai-400 703. 6th Floor, Trombay Mumbai-400 094. PAN : AABAN0550E (Appellant) (Respondent) Assessee by Shri Sushant N. Alme Department by Shri R.R. Makwana Date of Hearing 05.06.2024 Date of Pronouncement 27.06.2024 O R D E R 1. This appeal is filed by NPC employees cooperative credit society Ltd Mumbai (the assessee/appell…

Macrotech Developers Ltd, Mumbai vs. Dy CIT Central Range-7(3), Mumbai

Appeal is allowed for statistical purposes

ITA 1414/MUM/2021[2014-15]Status: DisposedITAT Mumbai27 Mar 2024AY 2014-15

Bench: SHRI S RIFAUR RAHMAN, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Niraj ShethFor Respondent: Shri Ashok Kumar Ambastha
Section 143(3)Section 80Section 801BSection 80I

…ssion ‘derived from’ and ‘derived in the previous year relevant to any assessment year from’, respectively. The expression ‘derived from’ has a narrower connotation as compared to expression ‘attributable to’ [Cambay Electric Supply Industrial Co Ltd Vs. CIT: 113 ITR 84]. For application of words ‘derived from’ there must exist a direct nexus between the profits and the eligible business [Sterling Foods Vs State of Karnataka: 237 ITR 579]. Therefore, in our view only profits having direct nexus with eligible business of developing and construction of a housing project would be eligible for deduction in terms of S…

Reserve Bank Cooperative Society Ltd., Jaipur vs. ITO, Ward-6(2), Jaipur

In the result, the appeal filed by the assessee is dismissed

ITA 10/JPR/2024[2020-21]Status: DisposedITAT Jaipur05 Mar 2024AY 2020-21

Bench: Sh. Sandep Gosain & Dr. M. L. Meena

For Appellant: Sh. P. C. Parwal, C.AFor Respondent: Sh. A. S. Nehra, Addl. CIT
Section 56Section 80PSection 80P(1)Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…islature intended to cover receipt from sources other than the actual conduct of business of assessee. The scope of the word 'attributable to has been considered by Hon'ble Supreme Court in case of Cambay Electric Supply Industrial Company Ltd. Vs. CIT (1978) 113 ITR 84 where at Para 11 it is held as under:- "11. As regards the aspect emerging from the expression "attributable 10 ^ n occurring in the phrase "profits and gains attributable to the business of the specified industry (here generation and distribution of electricity) on which the learned Solicitor-General relied. it will be pertinent to observe that t…

Tata Elxsi Limited, Bangalore vs. Deputy Commisioner Incomer Tax, Circle-7(1)(1), Bangalore

Accordingly, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 1152/BANG/2023[2018-19]Status: DisposedITAT Bangalore28 Feb 2024AY 2018-19

Bench: Shri Narender Kumar Choudhry & Shri Laxmi Prasad Sahuassessment Year : 2018-19 M/S. Tata Elxsi Ltd., The Deputy 126, Itpb Road, Commissioner Hoody, Of Income Tax, Whitefield, Circle – 7(1)(1), Bangalore – 560 048. Bangalore. Vs. Pan: Aaact7872Q Appellant Respondent

For Appellant: Shri Padam Chand Khincha, CAFor Respondent: Shri Subramanian .S, JCIT DR
Section 10ASection 10A(9)Section 250

…me". Therefore, the decision in the context of section 80M ought not have been relied on by the Supreme Court in the context of section 80HH. The Supreme Court after discussing all the earlier judgements of the Supreme Court i.e. Cambay Electric Supply [1978] 113 ITR 84 (SC), Cloth Traders [1979] 118 ITR 243 (SC), Distributor Baroda [1085] 155 ITR 120 (SC), HH Sir Ram Verma [1994] 205 ITR 433 (SC), Kotagiri Industrial Co-operative Tea Factory Ltd [1997] 224 ITR 604 (SC) concluded as under: "19) Reading of Section 80HH along with Section 80A would clearly signify' that such a deduction has to be of gross profits a…

Torrent Pharmaceuticals Ltd., Ahmedabad vs. ACIT, Circle-4(1)(2), Ahmedabad

In the result appeal of the Revenue is hereby partly allowed

ITA 1172/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad26 Feb 2024AY 2015-16

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri Vartik Choksi, With Shri DhrunalBhatt, ARsFor Respondent: Shri Ritesh Parmar, CIT-DR
Section 143(3)Section 14ASection 35Section 43BSection 80

…enquiry into the genealogy of the product which should be stopped as soon as the effective source is discovered. 23.1 At this juncture it is important to refer the judgment of Hon’ble SC in the case of Cambay Electric Supply Industrial Co. Ltd. v. CIT [1978] 113 ITR 84 (SC) which have interpreted the term ‘derived from’. The relevant decision of the Supreme Court reads as under: "The Legislature has deliberately used the expression ‘attributable to’, having a wider import than the expression ‘derived from’, thereby intending to cover receipts from sources other than the actual conduct of the business of the spe…

Addl CIT 8(1), Mumbai vs. M/S. Sanofi India Limited (Formerly Known As M/S. Aventis Pharma Ltd), Mumbai

In the result, the C.O. of the assessee for AY 2007-08 is partly allowed

ITA 6698/MUM/2011[2007-08]Status: DisposedITAT Mumbai23 Feb 2024AY 2007-08

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

For Respondent: Shri Ajay Chandra (CIT-DR) &
Section 32Section 32(1)

…deals with section 80HH of the Act and does not lay down any principle difference from Sterling Foods [1999] 237 ITR 579 (SC). In fact, in Pandian Chemicals [2003] 262 ITR 278 (SC) reliance has been placed on Cambay Electric Supply Industrial Co. Ltd. [1978] 113 ITR 84 (SC) and the decision seems to suggest, as we have held above, that the expression 'derived from an industrial undertaking' is a step removed from the business of the industrial undertaking." 5. Having regard to the aforesaid judgments we are not inclined to entertain the above appeals, as there is no substantial question of law involved in both t…

Addl CIT RG 8(1), Mumbai vs. M/S. Sanofi India Limited (Formerly Known As M/S. Aventis Pharma Ltd), Mumbai

In the result, the C.O. of the assessee for AY 2007-08 is partly allowed

ITA 7712/MUM/2010[2006-07]Status: DisposedITAT Mumbai23 Feb 2024AY 2006-07

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

For Respondent: Shri Ajay Chandra (CIT-DR) &
Section 32Section 32(1)

…deals with section 80HH of the Act and does not lay down any principle difference from Sterling Foods [1999] 237 ITR 579 (SC). In fact, in Pandian Chemicals [2003] 262 ITR 278 (SC) reliance has been placed on Cambay Electric Supply Industrial Co. Ltd. [1978] 113 ITR 84 (SC) and the decision seems to suggest, as we have held above, that the expression 'derived from an industrial undertaking' is a step removed from the business of the industrial undertaking." 5. Having regard to the aforesaid judgments we are not inclined to entertain the above appeals, as there is no substantial question of law involved in both t…

Sanofi India Ltd Formerly Known As Aventis Pharma Ltd, Mumbai vs. Addl CIT RG 8(1), Mumbai

In the result, the C.O. of the assessee for AY 2007-08 is partly allowed

ITA 6626/MUM/2009[2005-06]Status: DisposedITAT Mumbai23 Feb 2024AY 2005-06

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

For Respondent: Shri Ajay Chandra (CIT-DR) &
Section 32Section 32(1)

…deals with section 80HH of the Act and does not lay down any principle difference from Sterling Foods [1999] 237 ITR 579 (SC). In fact, in Pandian Chemicals [2003] 262 ITR 278 (SC) reliance has been placed on Cambay Electric Supply Industrial Co. Ltd. [1978] 113 ITR 84 (SC) and the decision seems to suggest, as we have held above, that the expression 'derived from an industrial undertaking' is a step removed from the business of the industrial undertaking." 5. Having regard to the aforesaid judgments we are not inclined to entertain the above appeals, as there is no substantial question of law involved in both t…

ACIT-1(1)(1), Mumbai vs. M/S. Hindustan Petroleum Corporation Ltd, Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 1995/MUM/2023[2004-05]Status: DisposedITAT Mumbai07 Feb 2024AY 2004-05

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 80I

…ther, they cannot be reduced from the cost of purchase of manufacture of goods and they should be treated as separate items of revenue or income and accounted accordingly." 11.4. The decision of the Apex Court in the case of Cambay Electrical Supply Co. Ltd. (113 ITR 84) highlights the distinction between the two expressions. According to the Hon'ble Apex Court, the expression 'attributable to as a much wider import than the expression 'derived from' thereby intending to cover receipts from sources other than the actual conduct of the business of the industrial undertaking. In other words, it can be understood to…

ACIT-1(1)(1), Mumbai vs. M/S. Hindustan Petroleum Corporation Ltd, Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 1994/MUM/2023[2003-04]Status: DisposedITAT Mumbai07 Feb 2024AY 2003-04

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 80I

…ther, they cannot be reduced from the cost of purchase of manufacture of goods and they should be treated as separate items of revenue or income and accounted accordingly." 11.4. The decision of the Apex Court in the case of Cambay Electrical Supply Co. Ltd. (113 ITR 84) highlights the distinction between the two expressions. According to the Hon'ble Apex Court, the expression 'attributable to as a much wider import than the expression 'derived from' thereby intending to cover receipts from sources other than the actual conduct of the business of the industrial undertaking. In other words, it can be understood to…

M/S. Tata Elxsi Limited, Bangalore vs. Deputy Commissioner Income Tax, Circle-7(1)(1), Bangalore

ITA 975/BANG/2023[2020-2021]Status: DisposedITAT Bangalore08 Jan 2024AY 2020-2021

Bench: Shri George George K. & Shri Chandra Poojari

Section 10ASection 30Section 80ASection 80HSection 80I

…tood as is being understood in commercial world. 13. The aforesaid argument is countered by Ms. Vibha Dutta Makhiia, learned senior Counsel, who appeared for the Revenue. She argues that the judgment in Cambay Electric Supply Industrial Co. Ltd. v. CIT [1978] 113 ITR 84 (SC) noted in the Reference Order, is on Section 80E of the Act which has no bearing in the instant case that pertains to Section 80HB. She also submits that legislative intent would be clear from the full bench decision of Cloth Traders (P.) Ltd. v. Addl. CIT [1982] 139 ITR 313] Taxman 155 (SC) and the insertion of Section 80AB in the Act. The pu…

M/S. Tata Elxsi Limited., Bangalore vs. Deputy Commissioner Income Tax, Circle-7(1)(1), Bangalore

In the result, all the appeals of the assessee are partly allowed for statistical purposes

ITA 927/BANG/2023[2016-17]Status: DisposedITAT Bangalore08 Jan 2024AY 2016-17

Bench: Shri George George K. & Shri Chandra Poojari

For Appellant: Shri Padam Chand Kincha, A.RFor Respondent: Shri D.K. Mishra, D.R
Section 10ASection 30Section 80ASection 80H

…me". Therefore, the decision in the context of section 80M ought not have been relied on by the Supreme Court in the context of section 80HH. The Supreme Court after discussing all the earlier judgements of the Supreme Court i.e. Cambay Electric Supply [1978] 113 ITR 84 (SC), Cloth Traders [1979] 118 ITR 243 (SC), Distributor Baroda [1085] 155 ITR 120 (SC), HH Sir Ram Verma [1994] 205 ITR 433 (SC), Kotagiri Industrial Co-operative Tea Factory Ltd [1997] 224 ITR 604 (SC) concluded as under: "19) Reading of Section 80HH along with Section 80A would clearly signify' that such a deduction has to be of gross profits a…

Nhdc Limited, Bhopal vs. DCIT - 3(1), Bhopal

In the result, the appeal of the revenue is dismissed, Cross appeal of the assesse is partly allowed for statistical purposes and CO is dismissed being infructuous

ITA 40/IND/2021[2015-16]Status: DisposedITAT Indore11 Dec 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaninhdc Limited Dcit, 3(1) F-01, Nhdc Parisar, Shyamla Bhopal Vs. Hills Bhopal -462013 (Appellant / Assessee) (Revenue) Pan: Aabcn 1732G Dcit, 3(1) Nhdc Limited Bhopal F-01, Nhdc Parisar, Vs. Shyamla Hills Bhopal -462013 (Appellant / Revenue) (Assessee) Pan: Aabcn 1732G

Section 143(3)Section 80I

…Ld. CIT-DR has relied upon the order of the AO and Ld. CIT(A) and submitted that the AO has relied upon the judgment of Hon’ble Supreme Court in case of Pandian Chemicals Ltd. 262 ITR 278, Sterling Foods 237 ITR 53 as well as Cambay Electrical Supply Co. Ltd. 113 ITR 84. Ld. DR has further submitted that even in case of Liberty India Ltd. vs. CIT 183 taxman 349 (SC) the Hon’ble Supreme Court has made a fine distinction between profit linked incentives and investment linked incentives and the concept of first degree source “derived from” against “attributable” has been taken into consideration. Thus, ld. DR has su…

DCIT 3 (1), Bhopal vs. M/S Nhdc Ltd, Bhopal

In the result, the appeal of the revenue is dismissed, Cross appeal of the assesse is partly allowed for statistical purposes and CO is dismissed being infructuous

ITA 316/IND/2020[2015-16]Status: DisposedITAT Indore11 Dec 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaninhdc Limited Dcit, 3(1) F-01, Nhdc Parisar, Shyamla Bhopal Vs. Hills Bhopal -462013 (Appellant / Assessee) (Revenue) Pan: Aabcn 1732G Dcit, 3(1) Nhdc Limited Bhopal F-01, Nhdc Parisar, Vs. Shyamla Hills Bhopal -462013 (Appellant / Revenue) (Assessee) Pan: Aabcn 1732G

Section 143(3)Section 80I

…Ld. CIT-DR has relied upon the order of the AO and Ld. CIT(A) and submitted that the AO has relied upon the judgment of Hon’ble Supreme Court in case of Pandian Chemicals Ltd. 262 ITR 278, Sterling Foods 237 ITR 53 as well as Cambay Electrical Supply Co. Ltd. 113 ITR 84. Ld. DR has further submitted that even in case of Liberty India Ltd. vs. CIT 183 taxman 349 (SC) the Hon’ble Supreme Court has made a fine distinction between profit linked incentives and investment linked incentives and the concept of first degree source “derived from” against “attributable” has been taken into consideration. Thus, ld. DR has su…

J.P Tobacco Product Pvt. Ltd., Damoh vs. Assistant Commissioner of Income Tax, Circle, Sagar

In the result, the appeal filed by the assessee is dismissed as indicated above

ITA 124/JAB/2008[2005-06]Status: DisposedITAT Jabalpur22 Sept 2023AY 2005-06

Bench: Shri Om Prakash Kantshri Pavan Kumar Gadalej.P.Tobacco Products Vs Asst.Cit, Pvt.Ltd., Patharia Phatak, Circle-Sagar (M.P.) Damoh (M.P) (Appellant) (Respondent) Pan No.Aaacj7141G Assessee By Shri G.N.Purohit, Sr.Adv. & Shri Abhijeet Shrivastava, Adv. Revenue By Shri Rajesh Kumar Gupta, Sr.Dr Date Of Hearing 15/09/2023 Date Of Pronouncement 22/09/2023

Section 80Section 801ASection 80HSection 80I

…e relevant issue, and not merely the part thereof reproduced by the Revenue in it's MA. Further, there is in the impugned order no reference to either the cited decisions, which rather on the issue are aplenty, viz.Cambay Electrical Supply Inds. v. CIT [1978] 113 ITR 84 (SC); CIT v. Sterling Foods [1999] 237 ITR 579 (SC); (SC); Orissa State Warehousing Corporation v. CIT [1999] 237 ITR 589 (SC); CIT v. Liberty India [2009] 317 ITR 218 (SC), to cite some, i.e., besides in Pandian Chemicals (supra), relied upon by the Tribunal. There is also no reference by the Tribunal to its earlier decision, i.e., for A.Y. 2003-…

Mumbai Postal Employees Co-Operative Credit Society Ltd, Mumbai vs. Income Tax Officer, Ward 17(2)(1), Mumbai

In the result, both the appeal of the assessee are allowed

ITA 1051/MUM/2023[2016-2017]Status: DisposedITAT Mumbai16 Aug 2023AY 2016-2017

Bench: Shri Amit Shukla & Shri Amarjit Singhita Nos.1050 & 1051/Mum/2023 (A.Ys. 2015-16 & 2016-17) Mumbai Postal Employees Vs. Income Tax Officer, Co-Operative Credit Ward 17(2)(1) Society Limited, Gpo Room No. 115, 1 St Floor, Building, Fort, Kautilya Bhavan, C-41 To Mumbai – 400001 C-43, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaajm0032G Appellant .. Respondent

For Appellant: Madhur Agarwal &For Respondent: Neena Jeph
Section 143(2)Section 143(3)Section 263Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…said business. P a g e | 9 ITA Nos. 1050 & 1051/Mum/2023 Mumbai Postal Employees Co-operative Credit Society Ltd. Vs. ITO, Ward 17(2)(1) e. The term "attributable to the business is explained by Apex Court in Cambay Electric Supply Industrial Co Ltd v/s CIT 113 ITR 84, which is produced here under: "it will be pertinent to observe that the legislature, has deliberately used the expression "attributable to" and not the expression "derived from" It cannot be disputed that the expression "attributable to" is certainly wider in import than the expression "derived from" Had the expression "derived from" been used, i…

Mumbai Postal Employees Co-Operative Credit Society Ltd, Mumbai vs. Income Tax Officer, Ward 17(2)(1), Mumbai

In the result, both the appeal of the assessee are allowed

ITA 1050/MUM/2023[2015-16]Status: DisposedITAT Mumbai16 Aug 2023AY 2015-16

Bench: Shri Amit Shukla & Shri Amarjit Singhita Nos.1050 & 1051/Mum/2023 (A.Ys. 2015-16 & 2016-17) Mumbai Postal Employees Vs. Income Tax Officer, Co-Operative Credit Ward 17(2)(1) Society Limited, Gpo Room No. 115, 1 St Floor, Building, Fort, Kautilya Bhavan, C-41 To Mumbai – 400001 C-43, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaajm0032G Appellant .. Respondent

For Appellant: Madhur Agarwal &For Respondent: Neena Jeph
Section 143(2)Section 143(3)Section 263Section 80P(2)(a)Section 80P(2)(d)Section 80P(4)

…said business. P a g e | 9 ITA Nos. 1050 & 1051/Mum/2023 Mumbai Postal Employees Co-operative Credit Society Ltd. Vs. ITO, Ward 17(2)(1) e. The term "attributable to the business is explained by Apex Court in Cambay Electric Supply Industrial Co Ltd v/s CIT 113 ITR 84, which is produced here under: "it will be pertinent to observe that the legislature, has deliberately used the expression "attributable to" and not the expression "derived from" It cannot be disputed that the expression "attributable to" is certainly wider in import than the expression "derived from" Had the expression "derived from" been used, i…

Mmtc Ltd vs. DCIT, Circle-5(1)

The appeal is allowed, with aforesaid consequences, as directed in ground wise findings

ITA 1722/DEL/2006[2003-2004]Status: DisposedITAT Delhi30 Jun 2023AY 2003-2004

Bench: Sh. G.S.Pannu, Hon’Ble & Sh. Anubhav Sharmam/S. Mmtc Ltd., Scope Vs. Dcit, Complex, Circle-5(1) Core 1,7, Institutional Area, New Delhi Lodhi Road, New Delhi- 110003 Pan : (Appellant) (Respondent)

Section 143(3)Section 44ASection 80Section 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCHES ‘E’ : NEW DELHI) BEFORE SH. G.S.PANNU, HON’BLE PRESIDENT AND SH. ANUBHAV SHARMA, JUDICIAL MEMBER M/s. MMTC Ltd., Scope Vs. DCIT, Complex, Circle-5(1) Core 1,7, Institutional Area, New Delhi Lodhi Road, New Delhi- 110003 PAN : (APPELLANT) (RESPONDENT) Assessee by Sh Rohit Jain, Adv., Sh. Tavish Verma, Adv. & Ms. Manisha Sharma, Adv. Revenue by Sh. N.C.Swain, CIT- DR & Shri Jeetendra Chand, Sr. DR Date of hearing: 01.06.2023 Date of Pronouncement: 30.06.2023 ORDER PER ANUBHAV SHARMA, JM: The Assessee has come in appeal against order dated 17.03.2006 in appea…

Hamilton Housewares Private Limited, Daman & Diu vs. Pr. Commissioner of Income Tax, Valsad

In the result, appeal filed by the assessee is allowed

ITA 163/SRT/2022[2017-18]Status: DisposedITAT Surat31 May 2023AY 2017-18

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.163/Srt/2022 "नधा"रण वष"/Assessment Year: (2017-18) (Virtual Hearing) Hamilton Houseware Pvt. Ltd., Vs. The Pcit, Valsad. Plot No.49/50, Danydyog Industrial Estate, Piparia 396230, Dadra & Nagar Haveli. (Appellant) (Respondent) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcd1683Q

Section 115JSection 143(3)Section 263Section 35Section 80GSection 80I

…V/s. CIT-113 ITR 84[SC] & Addl. CIT vs. Abbas Wazir P. Ltd (1 79 ITR 811 [Allahabad]. The following judicial references support the stand taken by the department. 1. CIT vs. Eastern Sea Foods Exports P. Ltd - 215 ITR 26 2. Cambay Electric Supply Co. vs. CIT- 113 ITR 84 3. CIT vs. Sterling Foods [1999] 237 ITR 579 4. Pandian Chemicals Ltd. - 262 ITR 278 4.4 In view of these facts, other income of Rs.99,46,189/- pertaining to pertaining to Haridwar Unit-2 are being excluded from the profits eligible for deduction U/S.80IC of the Income-Tax Act,1961.” 18. Therefore, we note that Assessing Officer has discussed the…

M/S. Saraf Exports vs. Commissioner of Income Tax, Jaipur - III

C.A. No.-004822-004822 - 2022Supreme Court10 Apr 2023

Bench: HON'BLE MR. JUSTICE M.R. SHAH

Section 143(2)Section 75Section 80

…itlements was not a profit and gain which it had derived from its industrial undertaking. For that purpose, it relied upon the decision of this Court in Cambay Electric Supply Industrial Co. Ltd. v. CIT [(1978) 2 SCC 644 : 1978 SCC (Tax) 119 : (1978) 113 ITR 84]. It was there held that the expression “attributable to” was wider in import than the expression “derived from”. The expression of wider import, namely, “attributable to”, was used when the legislature intended to cover receipts from sources other than the actual conduct of the business. The Division Bench of the High Court observed tha…