CIT, Panji v. Dempo Company Limited

74 Taxmann.com 15Supreme Court of India2016#1842 most cited

What is CIT, Panji v. Dempo Company Limited authority for?

The 20% tax rate under Section 112 applies to capital gains arising from the transfer of a depreciable asset, even if it is deemed a short-term capital gain under Section 50, provided the asset was held for more than 36 months. The fiction created by Section 50 for treating such gains as short-term does not alter the long-term nature of the asset for applying the tax rate under Section 112.

62

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2018 to 2025.

Also referred to as

CIT v. Dempo Company Ltd · Dempo Company Limited · Section 50 · Section 112 · capital gains depreciable asset · short term capital gain fiction · long term capital gains tax rate · block of assets · 20% tax rate · holding period 36 months

Sections most often in play

Section 115JBSection 14ASection 36(1)(vii)Section 36(1)(viia)Section 36(1)(viii)Section 40(a)(ia)Section 50Section 115U

Issues it is cited on

section 50(1)section 54esection 2(26)section 129(1)section 80absection 2(17)section 5(c)section 70(2)section 2(9)section 10(15)section 80msection 10(33)

Judgments citing CIT, Panji v. Dempo Company Limited

Deputy Commissioner of Income -Tax, Central Circle-2(1), Ahmedabad vs. M/S. Claris Lifesciences Limited, Ahmedabad

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

ITA 295/AHD/2022[2018-19]Status: DisposedITAT Ahmedabad07 Feb 2024AY 2018-19

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकरअपीलसं./Ita No. 295/Ahd/2022 धििाधरणवरध/Asstt. Year: 2018-2019 The D.C.I.T, M/S Claris Lifesciences Limited, Central Circle-2(1), Vs. Claris Corporate Hq, Ahmedabad. Near Parimal Rly. Crossing, Ellisbridge, Ahmedabad-380006. Pan: Aaacc6366Q

For Appellant: Shri Tushar Hemani, Sr. Advocate with Shri Parimalsinh B. ParmarFor Respondent: Shri Sudhendu Das, CIT.D.R
Section 50Section 54ESection 70Section 74

…आयकरअपीलीयअधिकरण, अहमदाबादनयायपीी IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B’’ BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER आयकरअपीलसं./ITA No. 295/AHD/2022 धििाधरणवरध/Asstt. Year: 2018-2019 The D.C.I.T, M/s Claris Lifesciences Limited, Central Circle-2(1), Vs. Claris Corporate HQ, Ahmedabad. Near Parimal Rly. Crossing, Ellisbridge, Ahmedabad-380006. PAN: AAACC6366Q (Applicant) (Respondent) Revenue by : Shri Sudhendu Das, CIT.D.R Assessee by : Shri Tushar Hemani, Sr. Advocate with Shri Parimalsinh B. Parmar सुिवाईकीतारीख/Date of Hearing : 10/01/2024…

Deputy Commissioner of Income-Tax, Circle - 2(1)(1), Bangalore vs. Canara Bank, Bangalore

In the result, appeals filed by assessee and revenue stands partly allowed for statistical purposes

ITA 663/BANG/2023[2019-20]Status: DisposedITAT Bangalore22 Dec 2023AY 2019-20

Bench: Chandra Poojari & Smt. Beena Pillai

For Respondent: Ms. Neera Malhotra, CIT-DR
Section 115JSection 143(3)Section 14ASection 51

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos. 391 & 392/Bang/2023 Assessment year : 2019-2020 M/s. Canara Bank, The Deputy FM Wing, Head Office, Commissioner 112, J C Road, Vs. of Income Tax, Bangalore – 560 002. Circle – 2(1)(1), PAN : AAACC6106G Bangalore. APPELLANT RESPONDENT Shri Ananthan S & Appellant by : Smt. Lalitha Rameswaran, Advocates Respondent by : Ms. Neera Malhotra, CIT-DR & Assessment Year : 2019 – 2020 (By Revenue) Date of hearing : 16.11.2023 Date of Pronouncement : 22.12.2023 O R D E R PER B…

M/S. Canara Bank (Erstwhile Syndicate Bank), Bangalore vs. The Deputy Commissioner of Income Tax, Circle-2(1)(1), Bangalore

In the result, appeals filed by assessee and revenue stands partly allowed for statistical purposes

ITA 392/BANG/2023[2019-20]Status: DisposedITAT Bangalore22 Dec 2023AY 2019-20

Bench: Chandra Poojari & Smt. Beena Pillai

For Respondent: Ms. Neera Malhotra, CIT-DR
Section 115JSection 143(3)Section 14ASection 51

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos. 391 & 392/Bang/2023 Assessment year : 2019-2020 M/s. Canara Bank, The Deputy FM Wing, Head Office, Commissioner 112, J C Road, Vs. of Income Tax, Bangalore – 560 002. Circle – 2(1)(1), PAN : AAACC6106G Bangalore. APPELLANT RESPONDENT Shri Ananthan S & Appellant by : Smt. Lalitha Rameswaran, Advocates Respondent by : Ms. Neera Malhotra, CIT-DR & Assessment Year : 2019 – 2020 (By Revenue) Date of hearing : 16.11.2023 Date of Pronouncement : 22.12.2023 O R D E R PER B…

M/S. Canara Bank (Erstwhile Syndicate Bank), Bangalore vs. The Deputy Commissioner of Income Tax, Circle-2(1)(1), Bangalore

In the result, appeals filed by assessee and revenue stands partly allowed for statistical purposes

ITA 391/BANG/2023[2019-20]Status: DisposedITAT Bangalore22 Dec 2023AY 2019-20

Bench: Chandra Poojari & Smt. Beena Pillai

For Respondent: Ms. Neera Malhotra, CIT-DR
Section 115JSection 143(3)Section 14ASection 51

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos. 391 & 392/Bang/2023 Assessment year : 2019-2020 M/s. Canara Bank, The Deputy FM Wing, Head Office, Commissioner 112, J C Road, Vs. of Income Tax, Bangalore – 560 002. Circle – 2(1)(1), PAN : AAACC6106G Bangalore. APPELLANT RESPONDENT Shri Ananthan S & Appellant by : Smt. Lalitha Rameswaran, Advocates Respondent by : Ms. Neera Malhotra, CIT-DR & Assessment Year : 2019 – 2020 (By Revenue) Date of hearing : 16.11.2023 Date of Pronouncement : 22.12.2023 O R D E R PER B…

Oriental Bank of Commerce, Gurgaon vs. ACIT, Spl. Range-07, New Delhi

In the result, the appeal filed by the Assessee stands allowed

ITA 740/DEL/2020[2016-17]Status: DisposedITAT Delhi31 Mar 2023AY 2016-17

Bench: Shri Anil Chaturvedi & Shri N.K. Choudhryassessment Year: 2016-17

For Appellant: Sh. KVSR Krishna, Ld. CA &For Respondent: Ms. Sarita Kumar, Ld. CIT/DR
Section 115JSection 14ASection 250Section 36

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’ NEW DLEHI BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SHRI N.K. CHOUDHRY, JUDICIAL MEMBER Assessment Year: 2016-17 Punjab National Bank, VersuS Addl. Commissioner of (Successor of erstwhile Oriental Income-tax, Spcl. Range-7 Bank of Commerce), Finance New Delhi. Division, Plot No. 4, Sector-10, Dwarka, New Delhi PAN: AAACP0165G (Appellant) (Respondent) Appellant by : Sh. KVSR Krishna, Ld. CA & Sh. Aman Goel, Ld. CA Respondent by : Ms. Sarita Kumar, Ld. CIT/DR Date of hearing: 06.03.2023 Date of order : 31.03.2023 ORDER PER N.K. CHOUDHRY, J.M. Th…

ACIT, Circle 3(1)(2), Mumbai vs. M/S Eurofinance Traininf & Publishing Pvt. Ltd., Mumbai

In the result, appeal by the Revenue is dismissed

ITA 835/MUM/2019[2013-14]Status: DisposedITAT Mumbai23 Sept 2022AY 2013-14

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

For Appellant: Shri B.V. JhaveriFor Respondent: Shri Pitta Samuel
Section 143(3)Section 250Section 254(1)Section 48Section 50Section 54E

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No.835/Mum./2019 (Assessment Year : 2013–14) Asstt. Commissioner of Income Tax ……………. Appellant Circle–3(1)(2), Mumbai v/s M/s. Eurofinance Training & Publishing P. Ltd. …………….Respondent 506, Dalamal Tower, 211, Nariman Point Mumbai 400 021 PAN – AAACE3332Q Assessee by : Shri B.V. Jhaveri Revenue by : Shri Pitta Samuel Date of Hearing – 19/09/2022 Date of Order – 23/09/2022 O R D E R PER SANDEEP SINGH KARHAIL, J.M. The present appeal has been filed by the R…

Principal Commissioner of Income Tax-1, Kolkata vs. M/S. the Peerless General Finance and Investment Co. Ltd

In the result, the appeal is dismissed and the substantial questions of law

ITAT/174/2021HC Calcutta12 Sept 2022

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Supratim Bhattacharya Date : 12Th September, 2022 Appearance : Mr. Soumen Bhattacharjee, Adv. ….For Appellant Mr. Abhijit Chatterjee, Sr. Adv. Mr. Gopal Ram Sharma, Adv. …For Respondent The Court : This Appeal By The Revenue Filed Under Section 260A Of The Income Tax Act, 1961 (The Act, For Brevity) Is Directed Against The Order Dated 22Nd July, 2020, Passed By The Income Tax Appellate Tribunal, Kolkata Bench, `D Virtual Court’, Kolkata (Tribunal) In Ita No. 1486/Kol/2019, For The Assessment Year 2014-15. The Revenue Has Raised The Following Substantial Questions Of Law For Consideration :- A. Whether The Learned Tribunal Has Committed Substantial Error In Law In Confirming The Decision Of Learned Commissioner Of Income Tax (Appeals) In Allowing Long Term Capital Loss Of Rs. 1,09,80,30,873/- On Transfer Of Government Securities After Applying Cost Inflation Index On Sale Of Government Securities & Holding He Government Securities Are Not Bond & Debentures For The Purpose Of 3Rd Proviso To Section 48 Of The Act (4Th Proviso After Amendment) Which Is Petently Wrong & Latently Irregular ?

Section 14ASection 260ASection 37(1)Section 40Section 48Section 50

…OD–21 IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION (INCOME TAX) ORIGINAL SIDE ITAT/174/2021 IA No.GA/2/2021 PRINCIPAL COMMISSIONER OF INCOME TAX-1, KOLKATA VS. M/S. THE PEERLESS GENERAL FINANCE & INVESTMENT CO. LTD. BEFORE : THE HON’BLE JUSTICE T.S. SIVAGNANAM And THE HON’BLE JUSTICE SUPRATIM BHATTACHARYA Date : 12th September, 2022 Appearance : Mr. Soumen Bhattacharjee, Adv. ….for appellant Mr. Abhijit Chatterjee, Sr. Adv. Mr. Gopal Ram Sharma, Adv. …for respondent The Court : This appeal by the revenue filed under Section 260A of the Income Tax Act, 1961 (the Act, for brevity) is directed against the ord…

DCIT 4(3)(1), Mumbai vs. Reliance Transport and Travels P.Ltd, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 5683/MUM/2017[2013-14]Status: DisposedITAT Mumbai19 Jul 2022AY 2013-14

Bench: Shri Amit Shukla & Shri S. Rifaur Rahman: A.Y : 2013-14 Asst. Commissioner Of Income Vs. M/S. Reliance Transport & Tax – 4(3)(1), Travels Pvt. Ltd., Mumbai (Appellant) 6Th Floor, Nagin Mahal, 82, Veer Nariman Road, Churchgate, Mumbai 400 020. Pan : Aaacr2380M (Respondent)

For Appellant: Shri Nimesh YadavFor Respondent: Shri Yogesh Thar
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D”, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER : A.Y : 2013-14 Asst. Commissioner of Income Vs. M/s. Reliance Transport & Tax – 4(3)(1), Travels Pvt. Ltd., Mumbai (Appellant) 6th floor, Nagin Mahal, 82, Veer Nariman Road, Churchgate, Mumbai 400 020. PAN : AAACR2380M (Respondent) Appellant by : Shri Nimesh Yadav Respondent by : Shri Yogesh Thar, Shri Chaitanya Joshi & Shri Hardik Nirmal Date of Hearing : 21/06/2022 Date of Pronouncement : 19/07/2022 O R D E R PER AMIT SHUKLA, JM : The aforesaid appeal has…

DCIT 13(3)(1), Mumbai vs. M/S Wall Street Finance Ltd, Mumbai

In the result, appeal by the Revenue is dismissed

ITA 2175/MUM/2019[2014-15]Status: DisposedITAT Mumbai19 Apr 2022AY 2014-15

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri Madhur AgrawalFor Respondent: Shri Hoshang B. Irani
Section 143(3)Section 14ASection 2Section 250Section 50Section 54E

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No.2175/Mum./2019 (Assessment Year : 2014–15) Dy. Commissioner of Income Tax ……………. Appellant Circle–13(3)(1), Mumbai v/s Wall Street Finance Ltd. 201–A, 2nd Floor, Chintamani Avenue CTS no.62–B, Off Western Express Highway ……………. Respondent Village Dindoshi, Opp. Virwani Industries Mumbai 400 063 PAN – AAACW1258P Assessee by : Shri Madhur Agrawal Revenue by : Shri Hoshang B. Irani Date of Hearing – 28.02.2022 Date of Order – 19/04/2022 O R D E R PER…

ACIT, Circle- 19(1), New Delhi vs. Oriental Bank of Commerce, Gurgaon

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1812/DEL/2018[2015-16]Status: DisposedITAT Delhi04 Mar 2022AY 2015-16

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. A. D. Jain, Vice-President Dr. B. R. R. Kumar, Accountant Member ITA No. 1581/Del/2017 : Asstt. Year : 2012-13 ITA No. 1582/Del/2017 : Asstt. Year : 2013-14 ITA No. 1583/Del/2017 : Asstt. Year : 2014-15 ITA No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank of Commerce, Vs Addl. CIT, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 DCIT/ACIT, Circle-19(1), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACO0191M ITA No. 1823/Del/2017 : Asstt. Year : 2012-13 I…

Oriental Bank of Commerce, Gurgaon vs. ACIT, Circle- 19(1), New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1199/DEL/2018[2015-16]Status: DisposedITAT Delhi04 Mar 2022AY 2015-16

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. A. D. Jain, Vice-President Dr. B. R. R. Kumar, Accountant Member ITA No. 1581/Del/2017 : Asstt. Year : 2012-13 ITA No. 1582/Del/2017 : Asstt. Year : 2013-14 ITA No. 1583/Del/2017 : Asstt. Year : 2014-15 ITA No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank of Commerce, Vs Addl. CIT, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 DCIT/ACIT, Circle-19(1), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACO0191M ITA No. 1823/Del/2017 : Asstt. Year : 2012-13 I…

ACIT, New Delhi vs. M/S. Oriental Bank of Commerce, Gurgaon

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 2174/DEL/2017[2014-15]Status: DisposedITAT Delhi04 Mar 2022AY 2014-15

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. A. D. Jain, Vice-President Dr. B. R. R. Kumar, Accountant Member ITA No. 1581/Del/2017 : Asstt. Year : 2012-13 ITA No. 1582/Del/2017 : Asstt. Year : 2013-14 ITA No. 1583/Del/2017 : Asstt. Year : 2014-15 ITA No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank of Commerce, Vs Addl. CIT, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 DCIT/ACIT, Circle-19(1), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACO0191M ITA No. 1823/Del/2017 : Asstt. Year : 2012-13 I…

ACIT, New Delhi vs. M/S. Oriental Bank of Commerce, Gurgaon

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 2173/DEL/2017[2013-14]Status: DisposedITAT Delhi04 Mar 2022AY 2013-14

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. A. D. Jain, Vice-President Dr. B. R. R. Kumar, Accountant Member ITA No. 1581/Del/2017 : Asstt. Year : 2012-13 ITA No. 1582/Del/2017 : Asstt. Year : 2013-14 ITA No. 1583/Del/2017 : Asstt. Year : 2014-15 ITA No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank of Commerce, Vs Addl. CIT, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 DCIT/ACIT, Circle-19(1), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACO0191M ITA No. 1823/Del/2017 : Asstt. Year : 2012-13 I…

Oriental Bank of Commerce, Gurgaon vs. DCIT, New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1583/DEL/2017[2014-15]Status: DisposedITAT Delhi04 Mar 2022AY 2014-15

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. A. D. Jain, Vice-President Dr. B. R. R. Kumar, Accountant Member ITA No. 1581/Del/2017 : Asstt. Year : 2012-13 ITA No. 1582/Del/2017 : Asstt. Year : 2013-14 ITA No. 1583/Del/2017 : Asstt. Year : 2014-15 ITA No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank of Commerce, Vs Addl. CIT, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 DCIT/ACIT, Circle-19(1), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACO0191M ITA No. 1823/Del/2017 : Asstt. Year : 2012-13 I…

Oriental Bank of Commerce, Gurgaon vs. DCIT, New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1582/DEL/2017[2013-14]Status: DisposedITAT Delhi04 Mar 2022AY 2013-14

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. A. D. Jain, Vice-President Dr. B. R. R. Kumar, Accountant Member ITA No. 1581/Del/2017 : Asstt. Year : 2012-13 ITA No. 1582/Del/2017 : Asstt. Year : 2013-14 ITA No. 1583/Del/2017 : Asstt. Year : 2014-15 ITA No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank of Commerce, Vs Addl. CIT, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 DCIT/ACIT, Circle-19(1), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACO0191M ITA No. 1823/Del/2017 : Asstt. Year : 2012-13 I…

Oriental Bank of Commerce, Gurgaon vs. Addl. CIT, New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1581/DEL/2017[2012-13]Status: DisposedITAT Delhi04 Mar 2022AY 2012-13

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. A. D. Jain, Vice-President Dr. B. R. R. Kumar, Accountant Member ITA No. 1581/Del/2017 : Asstt. Year : 2012-13 ITA No. 1582/Del/2017 : Asstt. Year : 2013-14 ITA No. 1583/Del/2017 : Asstt. Year : 2014-15 ITA No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank of Commerce, Vs Addl. CIT, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 DCIT/ACIT, Circle-19(1), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACO0191M ITA No. 1823/Del/2017 : Asstt. Year : 2012-13 I…

Principal Commissioner of Income Tax, Kolkata 4 vs. Eveready Industries India Limited

In the result, the appeal (ITAT/233/2018) is dismissed and the

ITAT/233/2018HC Calcutta30 Nov 2021

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 30Th November, 2021 Appearance :-

Section 2Section 260ASection 43BSection 50

…OD-33 ITAT/233/2018 IA NO: GA/2/2018(Old No.GA/2095/2018) IN THE HIGH COURT AT CALCUTTA SPECIAL JURISDICTION (INCOME TAX) ORIGINAL SIDE PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA-4 VERSUS EVEREADY INDUSTRIES INDIA LIMITED BEFORE : THE HON’BLE JUSTICE T.S. SIVAGNANAM And THE HON’BLE JUSTICE HIRANMAY BHATTACHARYYA Date : 30th November, 2021 Appearance :- Mr. Smarajit Roychowdhury, Mr. Ashok Bhowmick, Advs. … For Appellant Mr. Asim Choudhuri, Advs. … For Respondent The Court : This appeal by the revenue filed under Section 260A of the Income Tax Act, 1961 (the Act, for brevity) is directed again…

DCIT, New Delhi vs. M/S. Ajanta Tubes Ltd., Delhi

The appeal is dismissed

ITA 4432/DEL/2014[2008-09]Status: DisposedITAT Delhi05 Sept 2019AY 2008-09

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishidcit, Vs. Ajanta Tubes Ltd, Circle-1(1), 292, Katra Peran, Tilak New Delhi Bazar, Delhi Pan: Aaaca0320J (Appellant) (Respondent)

For Appellant: Shri Saurav Rohtagi, CAFor Respondent: Shri P. V. Gupta, Sr. DR
Section 139Section 143Section 148Section 50

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A”: NEW DELHI BEFORE SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER DCIT, Vs. Ajanta Tubes Ltd, Circle-1(1), 292, Katra Peran, Tilak New Delhi Bazar, Delhi PAN: AAACA0320J (Appellant) (Respondent) Revenue by : Shri P. V. Gupta, Sr. DR Assessee by: Shri Saurav Rohtagi, CA Date of Hearing 12/06/2019 Date of pronouncement 05/09/2019 O R D E R PER PRASHANT MAHARISHI, A. M. 1. This appeal is filed by the revenue against the order of the ld CIT (A)-IV, New Delhi dated 26.05.2014 for the Assessment Year 2008-09. 2. The revenue has ra…

ITO 21 (1) (5), Mumbai vs. Jaya Deepak Bhavnani, Mumbai

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

ITA 6444/MUM/2016[2012-13]Status: DisposedITAT Mumbai12 Oct 2018AY 2012-13

Bench: Shri Rajesh Kumar & Shri Amarjit Singhincome Tax Officer-21(1)(5) Smt. Jaya Deepak Bhavnani Room No. 120, 1St Floor 407, Sun Industrial Estate Vs. Piramal Chambers Sunmil Compound, Lower Parel, Mumbai 400012 Parel, Mumbai 400013 Pan – Aaapb7618R Appellant Respondent

For Appellant: Rajeev GubgotraFor Respondent: Shri Vimal Punamiya
Section 50Section 54Section 54ESection 54F

…IN THE INCOME TAX APPELLATE TRIBUNAL "F" Bench, Mumbai Before Shri Rajesh Kumar, Accountant Member and Shri Amarjit Singh, Judicial Member Income Tax Officer-21(1)(5) Smt. Jaya Deepak Bhavnani Room No. 120, 1st Floor 407, Sun Industrial Estate Vs. Piramal Chambers Sunmil Compound, Lower Parel, Mumbai 400012 Parel, Mumbai 400013 PAN – AAAPB7618R Appellant Respondent Appellant by: Rajeev Gubgotra Respondent by: Shri Vimal Punamiya Date of Hearing: 26.09.2018 Date of Pronouncement: 12.10.2018 O R D E R Per Rajesh Kumar, AM This appeal filed by Revenue is directed against the order of the CIT(A)-33, Mumbai date…

Eih Limited, Kolkata vs. DCIT, Cir-8(1)Kol., Kolkata

In the result, assessee’s appeal stands partly allowed for statistical purpose

ITA 117/KOL/2017[2012-13]Status: DisposedITAT Kolkata16 May 2018AY 2012-13

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2012-13 Eih Ltd V/S. Dcit, Circle-8(1), 4, Mangoe Lane, Aayakar Bhawan, P-7, Kolkata-700 001 Chowringhee Square, [Pan No.Aaace 6898 B] Kolkata-69 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Ravi Sharma, Ar अपीलाथ" क" ओर से/By Appellant Shri P.K. Srihari, Cit-Dr ""यथ" क" ओर से/By Respondent 27-02-2018 सुनवाई क" तार"ख/Date Of Hearing 16-05-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per Waseem Ahmed:- This Appeal By The Assessee Is Directed Against The Order Of Dispute Resolution Panel-2, (Drp For Short) Dated 17.10.2016. Assessment Was Framed By Dcit, Circle-8(1), Kolkata U/S 144C(13)/143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) Vide His Order Dated 29.11.2016 For Assessment Year 2012-13 & Grounds Raised By Assessee Read As Under:- “1.0 Determination Of Arm'S Length Price For Corporate Guarantee Fees 1.1 On The Facts & In The Circumstances Of The Case & In Law, The Learned Transfer Pricing Officer (Hereinafter Referred To As "Ld, Tpo") & Accordingly Learned Assessing Officer (Hereinafter Referred To As "Ld. Ao") Erred In Treating The Corporate Guarantee Extended By The Appellant To Its Associated Enterprise (Ae) As International Transaction & Dispute Resolution Panel (Hereinafter Referred To As "Ld, Panel") Erred In Confirming The Same As An International Transaction Without Appreciating The Fact That It Does Not Fall Within The Ambit Of "International Transaction" U/S 92B Of The Act. 1.2 The Ld.Ao/Tpo & The Ld. Panel Failed To Appreciate The Fact That Corporate Guarantee Has Been Advanced By The Appellant As A Matter Of Commercial Prudence To Protect The Business Interest Of The Group By Fulfilling

Section 14Section 144C(13)Section 14ASection 14A(2)Section 92B

…आयकर अपील"य अधीकरण, "यायपीठ – “C” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “C” KOLKATA Before Shri N.V.Vasudevan, Judicial Member and Shri Waseem Ahmed, Accountant Member Assessment Year :2012-13 EIH Ltd V/s. DCIT, Circle-8(1), 4, Mangoe Lane, Aayakar Bhawan, P-7, Kolkata-700 001 Chowringhee Square, [PAN No.AAACE 6898 B] Kolkata-69 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Ravi Sharma, AR अपीलाथ" क" ओर से/By Appellant Shri P.K. Srihari, CIT-DR ""यथ" क" ओर से/By Respondent 27-02-2018 सुनवाई क" तार"ख/Date of Hearing 16-05-2018 घोषणा क" तार"ख/Date of Pronouncement आदेश /O R D E R PER Waseem Ahm…