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 366,339 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

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

…ay down any principle difference from CIT vs. Sterling Foods (1999) 153 CTR (SC) 439 : (1999) 237 ITR 579 (SC). In fact, in Pandian Chemicals Ltd. (supra) reliance has been placed on Cambay Electric Supply Industrial Co. Ltd. vs. CIT 1978 CTR (SC) 50 : (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…

Torrent Power Ltd., Ahmedabad vs. The ACIT., Range-8, Ahmedabad

In the result cross objection filed by the assessee is partly allowed for statistical purposes

ITA 776/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad08 Dec 2021AY 2008-09

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri S.N. Soparkar, Sr. AdvocateFor Respondent: Shri Vinod Tanwani, CIT.D.R
Section 143(3)Section 254

…demands an enquiry into the genealogy of the product which should be stopped as soon as the effective source is discovered. 38.2 At this juncture it is important to refer judgment of 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 decisions of the Supreme Court "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 specified industry…

Macleods Pharmaceuticals Ltd, Mumbai vs. Deputy Commissioner of Income Tax 10(2)(2), Mumbai

In the result, appeal of the assessee is partly allowed as indicated above

ITA 7167/MUM/2017[2009-10]Status: DisposedITAT Mumbai14 Sept 2021AY 2009-10

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

For Appellant: Shri Ashok BansalFor Respondent: Shri Bharat Andhale
Section 115JSection 133(6)Section 143(3)Section 147Section 148Section 80I

…lculation of profit and loss or accounts. 12. Ld. Counsel for the assessee submits that the Hon'ble Supreme Court, in Sterling Foods [1999] 104 Taxman 204 (SC), Pandian Chemicals Ltd 2003 262 ITR 278 SC and in Cambay Electric Supply Industrial Co. Ltd [1978] 113 ITR 84 (SC), ruled repetitively and conclusively that the phrase 'derived from' is narrower than the phrase 'attributable to’ and in fact, in the original assessment order at para 7.3 deals with the disallowance of incomes relatable to the industrial undertakings and following the above cited judgements disallowances have been made which have been confir…

Dy. Commissioner of Income Tax, Circle-16(1), Hyderabad vs. Nsl Renewable Power Private Limited, Hyderabad

In the result, the appeals of the revenue are partly allowed for statistical purposes in above terms

ITA 166/HYD/2020[2016-17]Status: DisposedITAT Hyderabad03 Sept 2021AY 2016-17

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri Aliasgar RampurwalaFor Respondent: Shri P. Chandra Sekhar
Section 115JSection 143(3)Section 14ASection 80I

…estricted to ‘business income’ only. On the other hand, according to him, sub- section (5) deals with determination of the quantum of deduction by treating eligible business as the only source of income of the Assessee. Sub-section (5), therefore, is 2 (1978) 2 SCC 644 3 (2008) 4 SCC 22 4 (2003) 5 SCC 590 concerned with computation of the deduction, which is at a stage prior to allowing the deduction so computed. He submitted that there is no dispute that the computation of deduction is only from the eligible business. The claim of the Assessee, as accepted by the Appellate Authority, is that there is no restrict…

Dy. Commissioner of Income Tax, Circle-16(1), Hyderabad vs. Nsl Renewable Power Private Limited, Hyderabad

In the result, the appeals of the revenue are partly allowed for statistical purposes in above terms

ITA 165/HYD/2020[2014-15]Status: DisposedITAT Hyderabad03 Sept 2021AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri Aliasgar RampurwalaFor Respondent: Shri P. Chandra Sekhar
Section 115JSection 143(3)Section 14ASection 80I

…estricted to ‘business income’ only. On the other hand, according to him, sub- section (5) deals with determination of the quantum of deduction by treating eligible business as the only source of income of the Assessee. Sub-section (5), therefore, is 2 (1978) 2 SCC 644 3 (2008) 4 SCC 22 4 (2003) 5 SCC 590 concerned with computation of the deduction, which is at a stage prior to allowing the deduction so computed. He submitted that there is no dispute that the computation of deduction is only from the eligible business. The claim of the Assessee, as accepted by the Appellate Authority, is that there is no restrict…

Assistant Commissioner of Income Tax, Circle 1(1), Huballi vs. Hubli Electricity Supply Co. Ltd., Hubballi

In the result, appeal of the Revenue is treated as allowed for statistical purposes

ITA 570/BANG/2017[2012 - 13]Status: DisposedITAT Bangalore30 Jun 2021

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranassessment Year :2012-13 The Assistant Commissioner Of Vs. Hubli Electricity Supply Co. Ltd., Income Tax, Navanagar, Circle – 1(1), Hubballi – 580 025. Hubballi. Pan : Aabch3176 J Appellant Respondent Revenue By : Ms. Neera Malhotra, Cit(Dr)(Itat), Bengaluru Assessee By : Smt. Prathibha, Advocate Date Of Hearing : 24.06.2021 Date Of Pronouncement : 30.06.2021 O R D E R Per N. V. Vasudevan

For Appellant: Smt. Prathibha, AdvocateFor Respondent: Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru
Section 80ISection 8O

…s can be seen from the grounds of appeal of the Revenue, the primary reliance placed by the Revenue was on the decision of the Hon’ble Supreme Court in the case of Liberty India (supra) and Sterling Foods 237 ITR 53 (SC) and Cambay Electrical Supply Co. Ltd., 113 ITR 84. At the time of hearing, it was brought to our notice by the learned Counsel for the assessee that all these decisions were considered by the Hon’ble Supreme Court in the case of CIT(A) Vs. Meghalaya Steels Ltd., 383 ITR 217 (SC). The decision was referred in the context of section 80 IC of the Act. The words of which are identical to the provisio…

Commissioner of Income Tax-I vs. M/S Reliance Energy Ltd (Formerly Bses Ltd.) Through Its M.D

The Appeal is dismissed qua the issue of the extent of deduction under

C.A. No.-001327-001327 - 2021Supreme Court28 Apr 2021

Bench: HON'BLE MR. JUSTICE L. NAGESWARA RAO

Section 80Section 80A

…iness income’ only. On the other hand, according to him, sub- section (5) deals with determination of the quantum of deduction by treating eligible business as the only source of income of the Assessee. Sub-section (5), therefore, is 2 (1978) 2 SCC 644 3 (2008) 4 SCC 22 4 (2003) 5 SCC 590 8 | P a g e concerned with computation of the deduction, which is at a stage prior to allowing the deduction so computed. He submitted that there is no dispute that the computation of deduction is only from the eligible business. The claim of the Assessee, as accepted by the Appellate Authority,…

Bombay Mercantile Co. Op. Bank Ltd. Employees Co-Op. Credit Society Ltd., Mumbai vs. ITO 15(1)(2), Mumbai

In the result, the appeals filed by the assessee are hereby partly allowed

ITA 4824/MUM/2016[2012-13]Status: DisposedITAT Mumbai27 Oct 2020AY 2012-13

Bench: Shri Rajesh Kumar, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. Nos.3583/Mum/2014 & 4824/Mum/2016 (निर्धारण वर्ा / Assessment Years:2010-11 & 2012-13) Bombay Mercantile Co-Op. बिधम/ Ito-15(1)(2) Bank Ltd. Room No.116, 1St Floor, Vs. Employees Co-Op. Credit Matru Mandir, Grant Road, Society Ltd. Mumbai-400007. Navratan Building, 69, P. D’Mello Road, Carnac Bunder, Mumbai-400009. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. :Aaajb0706E (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Vijay Joshi Revenue By: Ms. Kavita P. Kaushik (Sr. Dr) सुनवाई की तारीख / Date Of Hearing: 22/09/2020 घोषणा की तारीख /Date Of Pronouncement: 27/10/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Above Mentioned Appeals Against The Different Order Passed By The Commissioner Of Income Tax (Appeals) -26 & 28, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Ys. 2010-11 & 2012-13. Ita. No.3583/Mum/2014 2. The Assessee Has Filed The Present Appeal Against The Order Dated 24.02.2014 Passed By The Commissioner Of Income Tax (Appeals) -26, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2010- 11. Ita Nos. 3583/M/2014 & 4824/M/2016 A.Ys. 2010-11 & 2012-13 3. The Assessee Has Raised The Following Grounds: -

For Appellant: Shri Vijay JoshiFor Respondent: Ms. Kavita P. Kaushik (Sr. DR)
Section 143(2)Section 801Section 80P(2)(a)Section 80P(2)(d)

…ion is of great importance. The Apex Court had an occasion to consider the meaning of the word 'attributable' as supposed to derive from its use in various other provisions of the statute in the case of Cambay Electric Supply Industrial Co. Ltd. v. CIT [1978] 113 ITR 84 (SC) as under: 'As regards the aspect emerging from the expression "attributable to" 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 the legislature, has deliberatel…

DCIT (Ltu), New Delhi vs. M/S. Gail (India) Ltd., New Delhi

Appeal is dismissed

ITA 4642/DEL/2013[1996-97]Status: DisposedITAT Delhi26 Oct 2020AY 1996-97

Bench: Sh. R. K. Panda & Ms Suchitra Kamble

Section 80HSection 80I

…seller (GAIL) monthly transportation/service charges and taxes thereon for spur line and facilities provided from tap off.” The Assessing Officer relied on the order of the Hon’ble Supreme Court in the case of Cambay Electric Supply Industrial Company Ltd. (113 ITR 84 (SC)) in respect of meaning of ‘derived’. In fact, the assessee was subjected to TDS @ 2% u/s 194C also over the transportation charges by its customers. In this regards, reference is invited to page no. 1 to 5 of Revenue’s paper book submitted on 03.05.2019 which are copy of TDS certificates issued by GVK Industries Ltd. and Indian Oil Cooperatio…

Gail (India) Ltd., New Delhi vs. DCIT-Ltu Delhi, New Delhi

Appeal is dismissed

ITA 4454/DEL/2013[1996-97]Status: DisposedITAT Delhi26 Oct 2020AY 1996-97

Bench: Sh. R. K. Panda & Ms Suchitra Kamble

Section 80HSection 80I

…seller (GAIL) monthly transportation/service charges and taxes thereon for spur line and facilities provided from tap off.” The Assessing Officer relied on the order of the Hon’ble Supreme Court in the case of Cambay Electric Supply Industrial Company Ltd. (113 ITR 84 (SC)) in respect of meaning of ‘derived’. In fact, the assessee was subjected to TDS @ 2% u/s 194C also over the transportation charges by its customers. In this regards, reference is invited to page no. 1 to 5 of Revenue’s paper book submitted on 03.05.2019 which are copy of TDS certificates issued by GVK Industries Ltd. and Indian Oil Cooperatio…

DCIT Corporate Circle 5(1), Chennai vs. Repco Home Finance P Ltd., Chennai

In the result, the appeal of Revenue in ITA no

ITA 2885/CHNY/2017[2013-14]Status: DisposedITAT Chennai17 Jun 2020AY 2013-14

Bench: Shri George Mathan & Shri Ramit Kochar

For Appellant: JCITFor Respondent: Shri M. Viswanathan, C.A
Section 143(3)Section 14ASection 36(1)Section 36(1)(va)Section 36(1)(viii)

…d include receipts other than the actual conduct of the business. The decision(s) of Hon’ble Supreme Court in the case of CIT v. Sterling Foods reported in (1999) 237 ITR 579(SC) ; Cambay Electric Supply Industrial Company Limited v. CIT reported in (1978) 113 ITR 84(SC), Pandian Chemicals Limited v. CIT reported in (2003) 262 ITR 278(SC) and Mrs. Bacha F. Guzdar v. CIT (1955) 27 ITR 1(SC) are relevant to support the aforesaid proposition of law. The provisions of Section 36(1)(viii) of the 1961 Act has also referred to Profits ‘derived’ and hence direct and immediate nexus of Profits and the business of…

Gateway Terminals India P.Ltd, Navi Mumbai vs. DCIT Panvel Circle, Mumbai

The appeal stands partly allowed in terms of our above order

ITA 300/MUM/2018[2012-13]Status: DisposedITAT Mumbai28 May 2020AY 2012-13
For Appellant: Shri Porus Kaka- Ld. Sr. CounselFor Respondent: Shri N. Padmanabhan- Ld. DR
Section 115JSection 143(3)Section 80Section 80I

…1 Gateway Terminals Private Ltd. Assessment Year-2012-13 आयकरअपीलीयअ"धकरण“जी” "यायपीठमुंबईम"। IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI "ीमनोजकुमारअ"वाल, लेखासद"यएवं सु"ीमधु"मताराय, "या"यकसद"यकेसम"। BEFORE SHRI MANOJ KUMAR AGGARWAL, AM AND MS. MADHUMITA ROY, JM आयकरअपीलसं./ I.T.A. No.300/Mum/2018 ("नधा"रणवष"/ Assessment Year: 2012-13) M/s. Gateway Terminals Pvt. Ltd. DCIT-Panvel Circle बनाम/ GTI House, Jawaharlal Nehru Port Ashar I.T. Park, Road No.16Z Sheva, District-Uran Vs. Wagle Estate Navi Mumbai-400 707. Thane (W)-400 604. "थायीलेखासं./जीआइआरसं./PAN/GIR No. AACCG-1899-E (अपीलाथ"/Appellant) (""य…

The Asstt. Commissioner of Income Tax, Vapi Circle, Vapi vs. M/S. Mitsu Limited, Daman

In the result, the appeal of the Revenue is dismissed

ITA 3510/AHD/2016[2000-01]Status: DisposedITAT Surat04 May 2020AY 2000-01

Bench: Shri Sandip Gosain & Shri O. P. Meenav. ""यथ"/Respondent आ.अ.सं././././I "नधा"र अपीलाथ" Appellant S .T.A No. ण N वष"/A Y: 1 1671/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2006 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 2 1371/Ah 2002- Assistant V. M/S. Mitsu Limited, D/2006 03 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q Co.No.1 2002- M/S. Mitsu Limited, V. Assistant 3 84/Ahd/ 03 304/2, Iind Phase, Commissioner Of 2006 Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 4 1672/Ah 2003- M/S. Mitsu Limited, V. Assistant D/2006 04 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 5 1764/Ah 2003- Assistant V. M/S. Mitsu Limited, D/2006 04 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q 6 1000/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2016 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 7 3510/Ah 2000- Assistant V. M/S. Mitsu Limited, D/2016 01 Commissioner Of Page 2 Of 83 Mitsu Ltd. V. Acit- Vapi/I.T.A. No.1671-1371,Co-184,1672-1764,1614 &1000/Ahd/2006/A.Y.02-03,03-04,06-07.02-03 Income Tax-Vapi 304/2, Iind Phase, Circle, Vapi Gidc, Vapi 396195 Pan: Aaccm 2764 Q

Section 143

…Page 1 of 83 Mitsu Ltd. v. ACIT- Vapi/I.T.A. No.1671-1371,CO-184,1672-1764,1614 &1000/AHD/2006/A.Y.02-03,03-04,06-07.02-03 आयकर अपीलीय अिधकरण, सुरत "यायपीठ, सुरत IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI SANDIP GOSAIN, JUDICIAL MEMBER AND SHRI O. P. MEENA, ACCOUNTANT MEMBER V. ""यथ"/Respondent आ.अ.सं././././I "नधा"र अपीलाथ" Appellant S .T.A No. ण N वष"/A Y: 1 1671/Ah 2002- M/s. Mitsu Limited, V. Assistant d/2006 03 304/2, IInd Phase, Commissioner of GIDC, Vapi 396195 Income Tax-Vapi PAN: AACCM 2764 Q Circle, Vapi 2 1371/Ah 2002- Assistant V. M/s. Mitsu Limited, d/2006 03 Commissioner of…

M/S. Mitsu Private Limited, Vapi vs. The ACIT, Vapi Circle, Vapi

In the result, the appeal of the Revenue is dismissed

ITA 1000/AHD/2016[2002-03]Status: DisposedITAT Surat04 May 2020AY 2002-03

Bench: Shri Sandip Gosain & Shri O. P. Meenav. ""यथ"/Respondent आ.अ.सं././././I "नधा"र अपीलाथ" Appellant S .T.A No. ण N वष"/A Y: 1 1671/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2006 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 2 1371/Ah 2002- Assistant V. M/S. Mitsu Limited, D/2006 03 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q Co.No.1 2002- M/S. Mitsu Limited, V. Assistant 3 84/Ahd/ 03 304/2, Iind Phase, Commissioner Of 2006 Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 4 1672/Ah 2003- M/S. Mitsu Limited, V. Assistant D/2006 04 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 5 1764/Ah 2003- Assistant V. M/S. Mitsu Limited, D/2006 04 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q 6 1000/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2016 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 7 3510/Ah 2000- Assistant V. M/S. Mitsu Limited, D/2016 01 Commissioner Of Page 2 Of 83 Mitsu Ltd. V. Acit- Vapi/I.T.A. No.1671-1371,Co-184,1672-1764,1614 &1000/Ahd/2006/A.Y.02-03,03-04,06-07.02-03 Income Tax-Vapi 304/2, Iind Phase, Circle, Vapi Gidc, Vapi 396195 Pan: Aaccm 2764 Q

Section 143

…Page 1 of 83 Mitsu Ltd. v. ACIT- Vapi/I.T.A. No.1671-1371,CO-184,1672-1764,1614 &1000/AHD/2006/A.Y.02-03,03-04,06-07.02-03 आयकर अपीलीय अिधकरण, सुरत "यायपीठ, सुरत IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI SANDIP GOSAIN, JUDICIAL MEMBER AND SHRI O. P. MEENA, ACCOUNTANT MEMBER V. ""यथ"/Respondent आ.अ.सं././././I "नधा"र अपीलाथ" Appellant S .T.A No. ण N वष"/A Y: 1 1671/Ah 2002- M/s. Mitsu Limited, V. Assistant d/2006 03 304/2, IInd Phase, Commissioner of GIDC, Vapi 396195 Income Tax-Vapi PAN: AACCM 2764 Q Circle, Vapi 2 1371/Ah 2002- Assistant V. M/s. Mitsu Limited, d/2006 03 Commissioner of…

The DCIT, Cochin vs. M.S Cochin International Airport Ltd, Cochin

In the result, appeals of the Revenue in ITA Nos

ITA 190/COCH/2017[2005-06]Status: DisposedITAT Cochin21 Nov 2019AY 2005-06

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

Section 143(3)Section 80I

…essee are profits and gains derived by the assessee from its business. The term 'profit and gains derived', used in Section 801A, is also used in other provisions of the Income Tax Act. The Apex Court in Cambay Electric Supply Industrial Co.Ltd. v CIT ([1978] 113 ITR 84), referring to section 80J (since omitted by Finance Act (No.2, 1996), inter alia held thus: “In this connection it may be pointed out that whenever the legislature wanted to give a restricted meaning in the manner suggested by the learned Solicitor-General it has used the expression ‘derived from’, as for instance in Section 80-J. In our view, s…

M/S.Cochin International Airport Ltd, Cochin vs. The Adcit, Cochin

In the result, appeals of the Revenue in ITA Nos

ITA 310/COCH/2015[2010-11]Status: DisposedITAT Cochin21 Nov 2019AY 2010-11

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

Section 143(3)Section 80I

…essee are profits and gains derived by the assessee from its business. The term 'profit and gains derived', used in Section 801A, is also used in other provisions of the Income Tax Act. The Apex Court in Cambay Electric Supply Industrial Co.Ltd. v CIT ([1978] 113 ITR 84), referring to section 80J (since omitted by Finance Act (No.2, 1996), inter alia held thus: “In this connection it may be pointed out that whenever the legislature wanted to give a restricted meaning in the manner suggested by the learned Solicitor-General it has used the expression ‘derived from’, as for instance in Section 80-J. In our view, s…

Cochin International Airport Ltd, Cochin vs. The DCIT, Cochin

In the result, appeals of the Revenue in ITA Nos

ITA 344/COCH/2014[2008-09]Status: DisposedITAT Cochin21 Nov 2019AY 2008-09

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

Section 143(3)Section 80I

…essee are profits and gains derived by the assessee from its business. The term 'profit and gains derived', used in Section 801A, is also used in other provisions of the Income Tax Act. The Apex Court in Cambay Electric Supply Industrial Co.Ltd. v CIT ([1978] 113 ITR 84), referring to section 80J (since omitted by Finance Act (No.2, 1996), inter alia held thus: “In this connection it may be pointed out that whenever the legislature wanted to give a restricted meaning in the manner suggested by the learned Solicitor-General it has used the expression ‘derived from’, as for instance in Section 80-J. In our view, s…

The Sri Gowri Cooperative Society, Visakhapatnam vs. Principal Commissioner of Income Tax-1, Visakhapatnam

In the result, appeal filed by the assessee is allowed

ITA 26/VIZ/2018[2012-13]Status: DisposedITAT Visakhapatnam07 Aug 2019AY 2012-13

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blem/S. The Sri Gowri Vs. Pr.Cit-1, Co-Operative Society, Visakhapatnam. D.No.49-34-32/1, Konathala Complex, Akkayyapalem Main Road, Visakhapatnam. Pan No. Aaaat 8140 M (Appellant) (Respondent)

For Appellant: Shri K.S.S. Sarma – AdvFor Respondent: Shri D.K. Sonawal– CIT DR
Section 263Section 80P(2)(a)

…t the said decision was confined to the facts of the said case and that the Supreme Court was not dealing with the cases relating to co-operative banks. Referring to the decision of the Supreme Court in Cambay Electric Supply Industrial Co. Ltd. v. CIT [1978] 113 ITR 84, this court pointed out that the expression "attributable to" is wider in scope than the expression "derived from" and that a co-operative society may earn profits by way of interest by parking their funds in high- yielding deposits or may earn income by circulating its capital among its members in the course of their banking business. Adverting t…

G.K. Founders P.Ltd, Mumbai vs. Asst CIT 14(1)(2), Mumbai

In the result, the appeal of the assessee is allowed

ITA 7464/MUM/2016[2012-13]Status: DisposedITAT Mumbai14 May 2019AY 2012-13

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2012-13

For Appellant: Shri Vimal Punmiya, A.RFor Respondent: Shri Choudhary Arunkumar Singh, D.R
Section 143(1)Section 143(3)Section 234BSection 80Section 80I

…ect of the profits and gains derived from the manufacturing activities of the industrial undertaking. The operational word used in the section is "derived from” and not “attributable to”. The Hon’ble Supreme Court in Cambay Electric Industrial Co. Ltd. v. CIT 113 ITR 84 (SC) had clearly stated that the expression "derived from" had a narrower connotation than the expression "attributable to". This was reiterated in Pandian Chemicals Ltd. v. CIT, 262 ITR 278(SC) wherein it held that "It is clear, therefore, that the word "derived from" in Section 80HH of the income-tax Act, 1961, must be understood as something wh…

Dhanashree Multistate Credit Co-Operative Society Ltd, Solapur vs. Income-Tax Officer, Ward - 1, Pnadharpur

In the result, the appeal of the assessee is allowed

ITA 1250/PUN/2018[2015-16]Status: FixedITAT Pune01 Mar 2019AY 2015-16

Bench: Shri Anil Chaturvedi, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri P.S. ShingteFor Respondent: Shri Rajesh Gawali
Section 143(3)Section 80PSection 80P(2)Section 80P(2)(a)

…आयकर अपील"य अ"धकरण] पुणे "यायपीठ “एक सद"य” पुणे म" IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI ANIL CHATURVEDI, AM AND SHRI VIKAS AWASTHY, JM आयकर अपील सं. / ITA No.1250/PUN/2018 "नधा"रण वष" / Assessment year : 2015-16 Dhanashree Multistate Credit Co-operative Society Limited, ………. अपीलाथ" / Damaji Road, Murlidhar Chowk, Appellant Mangalwedha, Solapur – 413 305. PAN : AABAD1879N. बनाम v/s The Income Tax Officer, ………. ""यथ" / Ward 1, Pandharpur. Respondent Assessee by : Shri P.S. Shingte. Revenue by : Shri Rajesh Gawali. सुनवाई क" तार"ख / घोषणा क" तार"ख / Date of Hearing : 22.01…