CEPT v. Shri Lakshmi Silk Mills Ltd.

20 ITR 451Supreme Court of India1951#1948 most cited

What is CEPT v. Shri Lakshmi Silk Mills Ltd. authority for?

Income derived from leasing a business asset is considered business income under Section 28 of the Income-tax Act, 1961.

59

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2025.

Also referred to as

CEPT v Shri Lakshmi Silk Mills Ltd · 20 ITR 451 SC · Section 28 · business income · leasing hotel · exploiting business asset · rental income · business operations

Sections most often in play

Section 143(3)Section 22Section 142(1)Section 255(4)Section 28(i)Section 10Section 12Section 24

Issues it is cited on

recognised provident fundsection 50bsection 43b(f)approved gratuity fundsection 40a(9)section 211wholly and exclusively for businesssection 35dslump salesection 32(1)(ii)domestic companyfull value of consideration

Judgments citing CEPT v. Shri Lakshmi Silk Mills Ltd.

The ACIT, Cochin vs. M/S.Ptl Enterprises Ltd, Cochin

In the result, the appeals filed by the Revenue are dismissed

ITA 160/COCH/2017[2011-12]Status: DisposedITAT Cochin06 May 2019AY 2011-12

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.Alok MitraFor Respondent: Sri.Abraham Joseph Markose
Section 56(2)(ii)

…iculties, i.e. either by financially or for some other reasons is let out the land, plant and machinery to a third party for a limited period and receiving rent, such rent is to be treated as income from business. The cases relied upon by the assessee such as 20 ITR 451, 169 ITR 597, 195 ITR 3525, 138 ITR 18, 116 ITR 781, 266 ITR 106, 166 ITR 211, 211 ITR 370, 164 ITR 288 and 237 ITR 454 (mentioned in para 16 of this order) support the case of the assessee. In all these cases, the Hon’ble Supreme Court and various High Courts held that rental income received for a limited period by way of letting out plant and ma…

M/S. Asia Insulated Wires Pvt. Ltd., Kolkata vs. ITO, Ward - 11(2), Kolkata

In the result, appeal of the assessee is allowed

ITA 1361/KOL/2018[2012-13]Status: DisposedITAT Kolkata09 Nov 2018AY 2012-13

Bench: Sri J. Sudhakar Reddy) Assessment Year: 2012-13 M/S. Asia Insulated Wires Pvt. Ltd…………....…………..……………...……..….…….........Appellant No.6A, “Basera Enclave” 6Th Floor Wing 2 Of Orbit City 82, Raja S.C. Mullick Road Kolkata -700 084 [Pan : Aadca 9496 L] Vs. Income Tax Officer, Ward-11(2), Kolkata….……………………….……..……............Respondent Appearances By: Shri Manoj Kataruka, Advocate, Appeared On Behalf Of The Assessee. Shri Saurav Kumar, Addl. Cit, Sr. D/R. Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : September 25Th , 2018 Date Of Pronouncing The Order : November 9Th , 2018 Order Per J. Sudhakar Reddy, Am :-

Section 144Section 250

…erives any income by exploitation of commercial assets whether itself or though other agencies, such income should be assessed under the head “business income”. 4.1. Further in the case of Commissioner of Excess Profit Tax vs. Sree Lakshmi Silk Mills Ltd. in 20 ITR 451, it was held as follows:- “If a commercial asset is not capable of being used as such, then its being let out to others does not result in an income which is the income of the business. But an asset which was acquired and used for the purpose of the business does not cease to be a commercial asset of that business as soon as it was temporarily put…

M/S. Mula Pravara Electric Co-Op. Society Ltd., Ahmednagar vs. Deputy Ssistant Commissioner of Income-Tax

In the result, appeal of the assessee is partly allowed for statistical purposes

ITA 1776/PUN/2016[2012-13]Status: DisposedITAT Pune28 Sept 2018AY 2012-13

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita No. 1776/Pun/2016 आयकर अपील सं आयकर अपील सं िनधा"रण वष" / Assessment Year : 2012-13 िनधा"रण वष" िनधा"रण वष" िनधा"रण वष"

For Appellant: Shri S.M. DoshiFor Respondent: Shri Amit Dua

…Cotton Mills Ltd. 169 ITR 597 (SC); (3) CIT v. Lahore Electric Supply Company Limited. 60 ITR 1; (4) CIT Vs. Vellore Electric 17 M/s. Mula Pravara Electric Co-op. Society Ltd., Corporation Ltd. 243 ITR 529; and (5) CIT Vs. Shri Lakshmi Silk Mills Limited 20 ITR 451 12. Per Contra, to continue the elaborate case of the Revenue, the demand for renewal of license is a futile exercise as the Govt. of Maharashtra already allowed/employed licensed MSEDCL for providing distribution of power to specified villages by the State Govt. of Maharashtra. Further, it is undisputed fact that the assessee granted VRS of 15…

DCIT Cir - 3(1), Mumbai vs. M/S. Gujarat Ambuja Cements Ltd., Mumbai

In the result, Revenue’s appeal is dismissed

ITA 1416/MUM/2007[2003-2004]Status: DisposedITAT Mumbai10 Aug 2018AY 2003-2004

Bench: Shri Saktijit Dey & Shri N.K. Pradhan

…104) and hence income arising therefrom in the course of business is assessable a business Income. He relied on the decision in the cases of Plast Ltd Vs CIT (237 ITR 454) (SC). CIT Vs Tirupati Woollen Mills Ltd. (193 ITR 252) (Cal) and Lakshmi Silk Mills Ltd 20 ITR 451(SC). 18. Ld. Counsel submitted that instead of considering Rs. 2,000/- on adhoc basis as expenditure incurred to earn the said income, the actual expenditure incurred to earn the aforesaid income is to be excluded. 19. The Ld. Departmental Representative relied on the order of the Ld. CIT(A). 20. We have heard both the parties. In order to verify…

M/S. Gujarat Ambuja Cements Ltd., Mumbai vs. DCIT RG. 3(1), Mumbai

In the result, Revenue’s appeal is dismissed

ITA 7092/MUM/2005[2002-2003]Status: DisposedITAT Mumbai10 Aug 2018AY 2002-2003

Bench: Shri Saktijit Dey & Shri N.K. Pradhan

…104) and hence income arising therefrom in the course of business is assessable a business Income. He relied on the decision in the cases of Plast Ltd Vs CIT (237 ITR 454) (SC). CIT Vs Tirupati Woollen Mills Ltd. (193 ITR 252) (Cal) and Lakshmi Silk Mills Ltd 20 ITR 451(SC). 18. Ld. Counsel submitted that instead of considering Rs. 2,000/- on adhoc basis as expenditure incurred to earn the said income, the actual expenditure incurred to earn the aforesaid income is to be excluded. 19. The Ld. Departmental Representative relied on the order of the Ld. CIT(A). 20. We have heard both the parties. In order to verify…

M/S. Hyderabad Distilleries & Wineries Pvt.Ltd., Hyderabad vs. ACIT, Circle-2(2), Hyderabad

Appeal are allowed

ITA 740/HYD/2012[2008-19]Status: DisposedITAT Delhi12 Jul 2018AY 2008-19

Bench: Shri P. M. Jagtap & Ms Suchitra Kamblem/S Hyderabad Distilleries & Vs Acit Wineries Pvt. Ltd. A-4, Ida, Uppal Circle-2(2) Hyderabad-39 Hyderabad Aaach2679B (Appellant) (Respondent)

Section 5

…er submitted that the various Courts in the following decisions have held that rental income should be assessed as ‘business income’ where the business assets/facilities have been let out for commercial exploitation: • CEPT v. Shri Lakshmi Silk Mills Limited: 20 ITR 451 (SC) • CIT v. Vikram Cotton Mills Ltd.: 169 ITR 597 (SC) • Universal Plast Ltd. & Ors. V. CIT: 237 ITR 454 (SC) • Rajendra Flour & Allied Industries : 128 ITR 402 (Del.) • CIT v. Northern India Iron and Steel Co. Ltd.: 211 ITR 370 (Del.) • CIT v. Super Fine Cables Private Ltd.: 154 ITR 532 (Del.) • CIT v. Mysore Wine Products Ltd.: ITA Nos. 408 to…

Ravi Kumar Agarwal, HUF, Agra vs. I.T.O.-2(4), Agra

In the result, the appeal is partly allowed

ITA 229/AGR/2016[2008-09]Status: DisposedITAT Agra25 Oct 2017AY 2008-09

Bench: Shri A. D. Jain

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL AGRA (SMC) BENCH: AGRA BEFORE SHRI A. D. JAIN, JUDICIAL MEMBER I.T.A No. 229/Agra/2016 (ASSESSMENT YEAR-2008-09) Ravi Kumar Agarwal, Vs.. ITO (2)4, C/o M/s Bharat Talkies, Agra 29/3, Raja Mandi, Agra PAN No. AABHR 0525 C (Revenue) (Assessee) Assessee by Shri Pankaj Gargh, Advocate Revenue by Shri Waseem Arshad, Sr. DR. Date of Hearing 21.08.2017 Date of Pronouncement 25.10.2017 ORDER This is assessee’s appeal for Assessment Year 2008-09, raising the following grounds: “1. Because the Ld. CIT(A) has erred both in law and on facts in confirming the action of the Asses…

Shri M M Creations, New Delhi vs. ACIT, New Delhi

In the result appeal filed by assessee for assessment year

ITA 5641/DEL/2012[2008-09]Status: DisposedITAT Delhi05 May 2017AY 2008-09

Bench: Sh. N. K. Saini & Smt. Beena A. Pillai & M. M. Creations Acit T-481A, Baljeet Nagar Circle-24(1), Behind Patel Nagar Police Station New Delhi Vs. New Delhi. Pan : Aaefm9802A (Appellant) (Respondent)

For Appellant: Sh. R. S. SinghviFor Respondent: Sh. Rajesh Kumar, Sr. DR
Section 24Section 56Section 56(2)(iii)

…ty by an owner thereof, but not exploitation of business assets." 13. While laying down aforesaid general principles and summarizing legal position, Hon’ble Supreme Court considered its previous decisions, viz., (1) CEPT v. Shri Lakshmi Silk Mills Ltd. [1951] 20 ITR 451 ; (2) Narain Swadeshi Weaving Mills v. 8 and CEPT [1954] 26 ITR 765 ; (3) CIT v. Calcutta National Bank Ltd. [1959] 37 ITR 171 ; (4) Sultan Brothers P. Ltd. v. CIT [1964] 51 ITR 353 ; (5) New Savan Sugar and Gur Refining Co. Ltd. v. CIT [1969] 74 ITR 7 and (6) CIT v. Vikram Cotton Mills Ltd. [1988] 169 ITR 597. 14. Keeping in mind aforesaid legal…

Emgee Cables & Communications Ltd., Jaipur vs. DCIT, Jaipur

In the result, ground no. 1 of the

ITA 390/JPR/2014[2008-09]Status: DisposedITAT Jaipur31 Mar 2017AY 2008-09
For Appellant: Shri R.A.Verma (Addl. CIT)For Respondent: Shri S.R. Sharma &
Section 2Section 32Section 32(2)

…ess funds were advanced are placed. In Tirupati Woolen Mills Ltd. (1992) 193 ITR 252 (Cal.) it was held that interest earned from utilization of commercial asset would be income from business. The Supreme Court in CIT Vs. Calcutta National Bank Ltd. (1959) 37 ITR 171 held that “business” is a word of very wise connotation with the result that income of interest in course of carrying 12 ITA No. 390/JP/2014, ITA No. 357/JP/2014 & C.O. No. 16/JP/2014 M/s Emgee Cables & Communications Ltd. Vs. DCIT, Jaipur on business should ordinarily be treated as business income, except where the investment are independent…

ACIT, Cir-31, Kolkata vs. West Bengal Housing Board, Kolkata

In the result, the appeal of the revenue is dismissed

ITA 284/KOL/2014[2009-10]Status: DisposedITAT Kolkata22 Mar 2017AY 2009-10
Section 143(3)Section 56Section 80I

…for carrying on business. 9.4 In the case of CIT vs. Tamil Nadu Dairy Development Corporation Ltd [1995] 216 ITR 535 (Mad.), the Madras High Court has held, following the decision of the Supreme Court in the case of CIT vs. Calcutta National Bank Ltd. [1959J 37 ITR 171 (SC) that "business" is a word of very wide connotation with the result that it should ordinarily be treated as business income. Except where the investments are independent of business made out of surplus funds in long term deposits, there is no possibility of assessing the same as otherwise - Tirupati Woolen Mills Ltd. 193 ITR 252 (Cal.), CIT vs…

DCIT RG. - 3(1), Mumbai vs. M/S. Gujarat Ambuja Cements Ltd., Mumbai

In the result, appeal filed by the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 4374/MUM/2005[2001-2002]Status: DisposedITAT Mumbai18 Jan 2017AY 2001-2002

Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am Gujarat Ambuja Cements Limited, The Dy. Commissioner Of 122, Maker Chambers, Iii, Income-Tax- Range 3(1), फनधभ/ Nariman Point, Aayakar Bhavan, Vs. Mumbai-400021. M K Marg, Mumbai-400020 Dy. Commissioner Of Income- Gujarat Ambuja Cements Tax-Range 3(1), Limited, 122, Maker फनधभ/ Room No.607, 6Th Floor, Chambers, Iii, Nariman Point, Aayakar Bhavan, Mumbai-400021 Vs. M K Marg, Mumbai-400020 स्थधमी रेखध सं./ Pan : Aaacg0569P (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) :

For Appellant: S/Shri Soumen Adak & HarishFor Respondent: Shri K B Shukla

…104) and hence income arising therefrom in the course of business is assessable a business Income. He relied on the decision in the cases of Plast Ltd Vs CIT (237 ITR 454) (SC). CIT Vs Tirupati Woollen Mills Ltd. (193 ITR 252) (Cal) and Lakshmi Silk Mills Ltd 20 ITR 451(SC). 18. Ld. Counsel submitted that instead of considering Rs. 2,000/- on adhoc basis as expenditure incurred to earn the said income, the actual expenditure incurred to earn the aforesaid income is to be excluded 19. The Ld. Departmental Representative relied on the order of the Ld. CIT(A). 20. We have heard both the parties. In order to verify t…

M/S. Gujarat Ambuja Cements Ltd., Mumbai vs. DCIT RG. 3(1), Mumbai

In the result, appeal filed by the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 3360/MUM/2005[2001-2002]Status: DisposedITAT Mumbai18 Jan 2017AY 2001-2002

Bench: Shri C.N. Prasad, Jm & Shri Rajesh Kumar, Am Gujarat Ambuja Cements Limited, The Dy. Commissioner Of 122, Maker Chambers, Iii, Income-Tax- Range 3(1), फनधभ/ Nariman Point, Aayakar Bhavan, Vs. Mumbai-400021. M K Marg, Mumbai-400020 Dy. Commissioner Of Income- Gujarat Ambuja Cements Tax-Range 3(1), Limited, 122, Maker फनधभ/ Room No.607, 6Th Floor, Chambers, Iii, Nariman Point, Aayakar Bhavan, Mumbai-400021 Vs. M K Marg, Mumbai-400020 स्थधमी रेखध सं./ Pan : Aaacg0569P (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) :

For Appellant: S/Shri Soumen Adak & HarishFor Respondent: Shri K B Shukla

…104) and hence income arising therefrom in the course of business is assessable a business Income. He relied on the decision in the cases of Plast Ltd Vs CIT (237 ITR 454) (SC). CIT Vs Tirupati Woollen Mills Ltd. (193 ITR 252) (Cal) and Lakshmi Silk Mills Ltd 20 ITR 451(SC). 18. Ld. Counsel submitted that instead of considering Rs. 2,000/- on adhoc basis as expenditure incurred to earn the said income, the actual expenditure incurred to earn the aforesaid income is to be excluded 19. The Ld. Departmental Representative relied on the order of the Ld. CIT(A). 20. We have heard both the parties. In order to verify t…

ITO Ward-41(1), Kolkata vs. Sri Shyamal Banerjee, Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 1580/KOL/2012[2003-04]Status: DisposedITAT Kolkata14 Sept 2016AY 2003-04

Bench: Shri Waseem Ahmed & Shri K. Narasimha Chary

Section 133ASection 143(3)Section 154Section 251

…llahabad High Court in Commissioner of income Tax –vs.- Pateshwari Electrical and Associated Industries (P) Limited 282 ITR 61 (All) referred to the decision in Sultan Bros. (P) Ltd. –vs.- CIT [1964] 51 ITR 353, CEPT –vs.- Shree lakshmi Silk Mills Ltd. [1951] 20 ITR 451 (SC), CIT –vs.- Shanmugham [1984] 147 ITR 692 (Mad.), S.G. Mercantile Corpn. (P) Ltd. –vs.- CIT [1972] 83 ITR 700 (SC), and distinguished the decisions reported in Shambhu Investment (P) Ltd. [2001] 249 ITR 47 (Cal.) and CIT –vs.- Purshottam Dass [2001] 247 ITR 516 (Delhi) to reach a conclusion that when the property was used for commercial purpos…

M/S. Gujarat Ambuja Cements Ltd vs. The Dy CIT RG 3(1)

In the result, appeal filed by the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 2486/MUM/2005[1999-2000]Status: DisposedITAT Mumbai30 May 2016AY 1999-2000

Bench: Shri D.Karunakara Rao & Shri Pawan Singhassessment Year: 1999-2000 Gujarat Ambuja Cements Limited, Dcit Range 3(1), 122, Maker Chambers, Iii, Aayakar Bhavan, M.K. Road, Vs. Mumbai-400020. Nariman Point, Mumbai-400021. Pan: Aaacg0569P (Appellant) (Respondent) Assessment Year: 1999-2000 Dcit Range 3(1), Gujarat Ambuja Cements Limited, Aayakar Bhavan, M.K. Road, 122, Maker Chambers, Iii, Vs. Mumbai-400020. Nariman Point, Mumbai-400021. Pan: Aaacg0569P (Appellant) (Respondent)

For Respondent: Shri Yashwant Kumar Bhaskar
Section 115JSection 145ASection 244A

…104) and hence income arising therefrom in the course of business is assessable a business Income. He relied on the decision in the cases of Plast Ltd Vs CIT (237 ITR 454) (SC). CIT Vs Tirupati Woollen Mills Ltd. (193 ITR 252) (Cal) and Lakshmi Silk Mills Ltd 20 ITR 451(SC). 18. Ld. Counsel submitted that instead of considering Rs. 2,000/- on adhoc basis as expenditure incurred to earn the said income, the actual expenditure incurred to earn the aforesaid income is to be excluded 19. The Ld. Departmental Representative relied on the order of the Ld. CIT(A). 20. We have heard both the parties. In order to verify t…

Om Estate & Finance (P) Ltd, Mumbai vs. ITO 7(1)(2), Mumbai

In the result, the appeals of the assessee are allowed

ITA 2133/MUM/2013[2008-09]Status: DisposedITAT Mumbai11 May 2016AY 2008-09

Bench: Hon’Ble S/Shri Sanjay Garg, Jm & Shri Rajesh Kumar, Am आमकय अऩीर सं./I.T.A. No.1389 & 1390/Mum/2011 Om Estates & Finance Pvt बनाम/ Income Tax Officer, 7(1)(2), Ltd., Aayakar Bhavan, Vs. 764-E Umrigar Bldg, M K Road, Mumbai. Tilak Road, Parsi Colony, Dadar, Mumbai-400014 स्थायी ऱेखा सुं./ Pan : Aaaco1199H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

For Appellant: Shri Devdatta MainkarFor Respondent: Dr.S Pandian
Section 143(1)Section 143(2)Section 194Section 24

…). The income of Rs. 7,80,000 received from S in the hands of the assessee was income from business under section 28 of the Income-tax Act, 1961." While holding so, the Hon‟ble High Court has referred to the cases viz., CEPT Vs. Shri Lakshmi Silk Mills Ltd., 20 ITR 451 (SC), CIT Vs. Calcutta National Bank Ltd., 37 ITR 171 (SC), CIT Vs. Vikram Cotton Mills Ltd., 169 ITR 597 (SC), Sultan Brothers P. Ltd. Vs. CIT, reported in 51 ITR 353 (SC) and in case of Universal Plast Ltd. Vs. CIT, 237 ITR 454 (SC). After considering various decisions as mentioned above, the Hon‟ble High Court has held that the assessee has…

Om Estates & Finance P.Ltd, Mumbai vs. ITO 7(1)(2), Mumbai

In the result, the appeals of the assessee are allowed

ITA 1390/MUM/2011[2007-08]Status: DisposedITAT Mumbai11 May 2016AY 2007-08

Bench: Hon’Ble S/Shri Sanjay Garg, Jm & Shri Rajesh Kumar, Am आमकय अऩीर सं./I.T.A. No.1389 & 1390/Mum/2011 Om Estates & Finance Pvt बनाम/ Income Tax Officer, 7(1)(2), Ltd., Aayakar Bhavan, Vs. 764-E Umrigar Bldg, M K Road, Mumbai. Tilak Road, Parsi Colony, Dadar, Mumbai-400014 स्थायी ऱेखा सुं./ Pan : Aaaco1199H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

For Appellant: Shri Devdatta MainkarFor Respondent: Dr.S Pandian
Section 143(1)Section 143(2)Section 194Section 24

…). The income of Rs. 7,80,000 received from S in the hands of the assessee was income from business under section 28 of the Income-tax Act, 1961." While holding so, the Hon‟ble High Court has referred to the cases viz., CEPT Vs. Shri Lakshmi Silk Mills Ltd., 20 ITR 451 (SC), CIT Vs. Calcutta National Bank Ltd., 37 ITR 171 (SC), CIT Vs. Vikram Cotton Mills Ltd., 169 ITR 597 (SC), Sultan Brothers P. Ltd. Vs. CIT, reported in 51 ITR 353 (SC) and in case of Universal Plast Ltd. Vs. CIT, 237 ITR 454 (SC). After considering various decisions as mentioned above, the Hon‟ble High Court has held that the assessee has…

Om Estates & Finance P.Ltd, Mumbai vs. ITO 7(1)(2), Mumbai

In the result, the appeals of the assessee are allowed

ITA 1389/MUM/2011[2006-07]Status: DisposedITAT Mumbai11 May 2016AY 2006-07

Bench: Hon’Ble S/Shri Sanjay Garg, Jm & Shri Rajesh Kumar, Am आमकय अऩीर सं./I.T.A. No.1389 & 1390/Mum/2011 Om Estates & Finance Pvt बनाम/ Income Tax Officer, 7(1)(2), Ltd., Aayakar Bhavan, Vs. 764-E Umrigar Bldg, M K Road, Mumbai. Tilak Road, Parsi Colony, Dadar, Mumbai-400014 स्थायी ऱेखा सुं./ Pan : Aaaco1199H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

For Appellant: Shri Devdatta MainkarFor Respondent: Dr.S Pandian
Section 143(1)Section 143(2)Section 194Section 24

…). The income of Rs. 7,80,000 received from S in the hands of the assessee was income from business under section 28 of the Income-tax Act, 1961." While holding so, the Hon‟ble High Court has referred to the cases viz., CEPT Vs. Shri Lakshmi Silk Mills Ltd., 20 ITR 451 (SC), CIT Vs. Calcutta National Bank Ltd., 37 ITR 171 (SC), CIT Vs. Vikram Cotton Mills Ltd., 169 ITR 597 (SC), Sultan Brothers P. Ltd. Vs. CIT, reported in 51 ITR 353 (SC) and in case of Universal Plast Ltd. Vs. CIT, 237 ITR 454 (SC). After considering various decisions as mentioned above, the Hon‟ble High Court has held that the assessee has…

The Commissioner of Inccome Tax-III vs. Speectra Shares AND Scrips Pvt Ltd

ITTA/282/2010HC Telangana21 Mar 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

DCIT, Circle-1, Kolkata vs. M/S. Calcutta Mumbai Truck Terminal Ltd, Howrah

Accordingly, the ground no. 2 raised by the revenue is dismissed

ITA 1189/KOL/2012[2007-08]Status: DisposedITAT Kolkata30 Oct 2015AY 2007-08

Bench: : Shri S.S. Viswanethra Ravi

For Appellant: Shri R.S Sahay, FCA,, ld.ARFor Respondent: Shri Sanjay Mukherjee, JCIT,ld.DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, “C” BENCH, KOLKATA Shri M. Balaganesh, Accountant Member, and Before : Shri S.S. Viswanethra Ravi, Judicial Member I.T.A Nos. 1189 & 1190/Kol/2012 A.Ys 2007-08 & 2009-10 D.C.I.T, Circle-1, Kolkata Vs. M/s. Calcutta Mumbai Truck Terminal Ltd. PAN: AABCC 0747Q (Appellant/Department) (Respondent/Assessee) I.T.A No. 736/Kol/2011 A.Y 2008-09 I.T.O Ward 1(3), Kolkata Vs. M/s. Calcutta Mumbai Truck Terminal Pvt.Ltd. PAN: AABCC 0747Q (Appellant/Department) (Respondent/Assessee) For the Appellant/Department: Shri Sanjay Mukherjee, JCIT,ld.DR For the Respondent/ Assessee:…