Chemicals & Plastics India Ltd. 292 ITR 115 (Mad): CIT v. Cooperative Sugars Ltd.

304 ITR 259High Court#17600 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 341,001 Indian tax judgments — from 2018 to 2022.

Judgments citing Chemicals & Plastics India Ltd. 292 ITR 115 (Mad): CIT v. Cooperative Sugars Ltd.

M/S. the Sandur Manganese & Iron Ores Ltd, Sandur vs. Assistant Commissioner of Income Tax, Circle-1, Bellary

In the result, both the appeals filed by the assessee stands partly allowed

ITA 1965/BANG/2018[2015-16]Status: DisposedITAT Bangalore29 Jun 2022AY 2015-16

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Respondent: Shri S. Parthasarathi

Section 37(1)

…& 1965/Bang/2018 15. The assessee is now in appeal before us against the aforesaid findings of the Id. CIT(A). The Id. AR on behalf of the assessee relied upon the decision in Chemicals & Plastics India Ltd. 292 ITR 115 (Mad): CIT Vs. Cooperative Sugars Ltd., 304 ITR 259(Kerala); ACIT Vs. Rajasthan Spinning and Weaving Mills Ltd.,274 ITR 463(Rajasthan) while contending that since activities of the FIMI are closely linked with the welfare of mining industry, the expenditure is admissible as revenue . 16. On the other hand, the Id. DR supported the findings of the Id. CIT(A) on the ground that the amount conferred…

M/S. the Sandur Manganese & Iron Ores Ltd, Sandur vs. Assistant Commissioner of Income Tax, Circle-1, Bellary

In the result, both the appeals filed by the assessee stands partly allowed

ITA 1964/BANG/2018[2012-13]Status: DisposedITAT Bangalore29 Jun 2022AY 2012-13

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

For Respondent: Shri S. Parthasarathi

Section 37(1)

M/S Zeenath Transport Company, Bellary vs. The Assistant Commissioner of Income Tax Circle-1, Bellary

In the result, appeal filed by the assessee stands partly allowed as indicated herein above

ITA 1780/BANG/2018[2012-13]Status: DisposedITAT Bangalore18 Aug 2021AY 2012-13

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Siva Prasad Reddy, AdvocateFor Respondent: Ms. Neera Malhotra, CIT (DR)

Section 135Section 37Section 37(1)

…ore, rejected. " 15. The assessee is now in appeal before us against the aforesaid findings of the Id. CIT(A). The Id. AR on behalf of the assessee relied upon the decision in Chemicals & Plastics India Ltd. 292 ITR 115 (Mad): CIT Vs. Cooperative Sugars Ltd., 304 ITR 259(Kerala); ACIT Vs. Rajasthan Spinning and Weaving Mills Ltd.,274 ITR 463(Rajasthan) while contending that since activities of the FIMI are closely linked with the welfare of mining industry, the expenditure is admissible as revenue . 16. On the other hand, the Id. DR supported the findings of the Id. CIT(A) on the ground that the amount conferred…

M.S Vibhutigudda Mines Private Limited, Bellary vs. The Assistant Commissioner of Income Tax Circle-1, Bellary

In the result, the assessee’s appeal for Assessment Year 2012-13 is allowed

ITA 2843/BANG/2018[2012-13]Status: DisposedITAT Bangalore03 Jul 2019AY 2012-13

Bench: Shri N. V. Vasudevan & Shri Jason P Boazassessment Year : 2012-13 M/S. Vibhutigudda Mines Pvt. Ltd., Vs. The Assistant Commissioner No.60/356-A, “Modi Bhavan” Of Income Tax, Hospet Road, Allipur, Circle – 1, ‘Aaykar Bhavan’ Bellary – 583 105. Staff Road, Fort, Pan : Aaacv 5851 D Bellary – 583 103. Appellant Respondent Assessee By : Shri. B. S. Balachandran, Advocate Revenue By : Shri. A. Ramesh Kumar, Jcit Date Of Hearing : 07.05.2019 Date Of Pronouncement : 03.07.2019

For Appellant: Shri. B. S. Balachandran, AdvocateFor Respondent: Shri. A. Ramesh Kumar, JCIT

Section 143(1)Section 143(3)Section 14ASection 37(1)

…fore, rejected." The assessee is now in appeal before us against the aforesaid 15. findings of the Id. CIT(A). The Id. AR on behalf of the assessee relied upon the decision in Chemicals & Plastics India Ltd. 292 ITR 115 (Mad): CIT Vs. Cooperative Sugars Ltd., 304 ITR 259(Kerala); ACIT Vs. Rajasthan Spinning and Weaving Mills Ltd.,274 ITR 463(Rajasthan) while contending that since activities of the FIMI are closely linked with the welfare of mining industry, the expenditure is admissible as revenue . Page 5 of 7 On the other hand, the Id. DR supported the findings of the Id. 16. CIT(A) on the ground that the amoun…

M/S. Pricewaterhousecoopers Private Limited, Kolkata vs. ACIT, Cir-2(2), Kolkata

ITA 483/KOL/2017[2012-13]Status: DisposedITAT Kolkata12 Sept 2018AY 2012-13

Bench: Shri S.S.Godara & Shri, M. Balaganeshassessment Year :2012-13 M/S Pricewaterhousecoopers V/S. Acit, Circle-2(2), Pvt.Ltd., Block-Ep, Plot-Y-14, Aayakar Bhavan, P-7, Salt Lake City, Sector-V, Chowringhee Square, Kokata-91 Kokata-69 [Pan No.Aabcp 9181 H] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Kanchan Kaushal, Ar अपीलाथ" क" ओर से/By Appellant Shri P.K. Srihari, Cit-Dr ""यथ" क" ओर से/By Respondent 14-06-2018 सुनवाई क" तार"ख/Date Of Hearing 12-09-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Assessee’S Appeal For Assessment Year 2012-13 Arises Against The Asstt. Commissioner Of Income Tax, Circle-2(2), Kolkata’S Assessment Order Dated 30.01.2017, Involving Proceedings Section 144C R.W. 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. 2. The Assessee Appellant’S First Substantive Ground Raised In The Instant Appeal Challenge Correctness Of Transfer Price Adjustment Amounting To ₹345,51,562/- In Course Of Assessment As Pertaining To Its International Transactions With Its Overseas Associate Enterprise (Ae). This Assessee Is A Company Providing Consultancy Including Tax & Regulatory Services. It Filed Its Return On 30.11.2012 Stating Total Income Of ₹51,62,16,310/-. This Followed Its Revised Return Dated 31.03.2014 Reducing Its Taxable Income To ₹49,87,12,700/-. The Assessing Officer Took Up Scrutiny. He Came Across

Section 144CSection 92C

…essee’s annual member-ship payment to be involving commercial consideration for obtaining commercial advantage liability to be treated as revenue expenditure. Case law CIT vs. Chemicals & Plastics India Ltd. 292 ITR 155 (Mad), CIT vs. Co-operative Sugars Ltd. 304 ITR 259 (Ker) and ACIT vs. Rajasthan Spg. & Wvg. Mills Ltd. 274 ITR 465 (Raj) is quoted in support. We find no merit in assessee’s above submissions. We make it clear that although it has placed on record its only membership detailed followed by actual payment. it is very much imperative to prove the scheme of above counal or its bye-laws vis-à-vis the a…