CIT v. Ace Multi Axes Systems Ltd.

88 Taxmann.com 69Supreme Court of India2017#1885 most cited

What is CIT v. Ace Multi Axes Systems Ltd. authority for?

Each assessment year constitutes a separate unit of assessment under the Income-tax Act, and findings or decisions for one assessment year do not operate as res judicata for subsequent assessment years.

61

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2024.

Also referred to as

CIT v. Ace Multi Axes Systems Ltd. · Ace Multi Axes · assessment year unit · separate assessment year · res judicata income tax · doctrine of mutuality · prior assessment year · Section 147 · assessment procedure · Income-tax Act

Also reported as

400 ITR 141252 Taxmann 274

Sections most often in play

Section 10AASection 69CSection 115JBSection 133ASection 147Section 40A(2)(b)Section 151Section 132

Issues it is cited on

section 250ofsection 43(b)doctrine of mutualitysection 3(b)section 40a(2)(a)section 34(1)(iv)section 36(va)actual payment basissection 43b(b)section 34(1)full and true disclosureinitial assessment year

Judgments citing CIT v. Ace Multi Axes Systems Ltd.

DCIT CC -4(4), MUMBAI, MUMBAI vs. SANMAN TRADE IMPEX LIMITED, MUMBAI

ITA 3614/MUM/2023[2018-19]Status: DisposedITAT Mumbai24 Jul 2024AY 2018-19

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Mr. Rakesh JoshiFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 10ASection 115JSection 143(3)Section 147Section 149Section 151Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) ITA Nos. 3491, 3474, 3473, 3472 & 3471, 3470/MUM/2023 Assessment Years: 2014-15 to 2017-18 & 2020-21 to 2021-22 M/s Sanman Trade Impex Ltd. 1410, Maker Chamber V, Nariman Point, Mumbai-400021. PAN NO. AADCS 2973 A Appellant Vs. Asst. CIT Central Circle-4(4), Air India Building, Nariman Point, Mumbai-400021. Respondent ITA Nos. 3606, 3605, 3603, 3602, 3614 & 3610, 3601/MUM/2023 Assessment Years: 2014-15 to 2018-19 & 2020-21 to 2021-22 DCIT Central Circle-4(…

DCIT CC -4(4), MUMBAI, MUMBAI vs. SANMAN TRADE IMPEX LIMITED, MUMBAI

ITA 3610/MUM/2023[2020-21]Status: DisposedITAT Mumbai24 Jul 2024AY 2020-21

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Mr. Rakesh JoshiFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 10ASection 115JSection 143(3)Section 147Section 149Section 151Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) ITA Nos. 3491, 3474, 3473, 3472 & 3471, 3470/MUM/2023 Assessment Years: 2014-15 to 2017-18 & 2020-21 to 2021-22 M/s Sanman Trade Impex Ltd. 1410, Maker Chamber V, Nariman Point, Mumbai-400021. PAN NO. AADCS 2973 A Appellant Vs. Asst. CIT Central Circle-4(4), Air India Building, Nariman Point, Mumbai-400021. Respondent ITA Nos. 3606, 3605, 3603, 3602, 3614 & 3610, 3601/MUM/2023 Assessment Years: 2014-15 to 2018-19 & 2020-21 to 2021-22 DCIT Central Circle-4(…

DCIT CC 4 (4), MUMBAI, MUMBAI vs. SANMAN TRADE IMPEX LIMITED, MUMBAI

In the result, appeals of the Revenue are dismissed dismissed whereas appeals of the assessee are partly allowed appeals of the assessee are partly allowed

ITA 3606/MUM/2023[2014-15]Status: DisposedITAT Mumbai24 Jul 2024AY 2014-15

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Dr. Kishor Dhule, CIT-DRFor Respondent: Mr. Rakesh Joshi
Section 143(3)Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) ITA Nos. 3491, 3474, 3473, 3472 & 3471, 3470/MUM/2023 Assessment Years: 2014-15 to 2017-18 & 2020-21 to 2021-22 M/s Sanman Trade Impex Ltd. Asst. CIT Central Circle-4(4), 1410, Maker Chamber V, Air India Building, Vs. Nariman Point, Nariman Point, Mumbai-400021. Mumbai-400021. PAN NO. AADCS 2973 A Appellant Respondent ITA Nos. 3606, 3605, 3603, 3602, 3614 & 3610, 3601/MUM/2023 Assessment Years: 2014-15 to 2018-19 & 2020-21 to 2021-22 DCIT Central Circle…

DCIT CC 4 (4), MUMBAI, MUMBAI vs. SANMAN TRADE IMPEX LIMITED, MUMBAI

In the result, appeals of the Revenue are dismissed dismissed whereas appeals of the assessee are partly allowed appeals of the assessee are partly allowed

ITA 3605/MUM/2023[2015-16]Status: DisposedITAT Mumbai24 Jul 2024AY 2015-16

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Dr. Kishor Dhule, CIT-DRFor Respondent: Mr. Rakesh Joshi
Section 143(3)Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) ITA Nos. 3491, 3474, 3473, 3472 & 3471, 3470/MUM/2023 Assessment Years: 2014-15 to 2017-18 & 2020-21 to 2021-22 M/s Sanman Trade Impex Ltd. Asst. CIT Central Circle-4(4), 1410, Maker Chamber V, Air India Building, Vs. Nariman Point, Nariman Point, Mumbai-400021. Mumbai-400021. PAN NO. AADCS 2973 A Appellant Respondent ITA Nos. 3606, 3605, 3603, 3602, 3614 & 3610, 3601/MUM/2023 Assessment Years: 2014-15 to 2018-19 & 2020-21 to 2021-22 DCIT Central Circle…

DCIT CC 4(4), MUMBAI, MUMBAI vs. SANMAN TRADE IMPEX LIMITED, MUMBAI

In the result, appeals of the Revenue are dismissed dismissed whereas appeals of the assessee are partly allowed appeals of the assessee are partly allowed

ITA 3603/MUM/2023[2016-17]Status: DisposedITAT Mumbai24 Jul 2024AY 2016-17

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Dr. Kishor Dhule, CIT-DRFor Respondent: Mr. Rakesh Joshi
Section 143(3)Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) ITA Nos. 3491, 3474, 3473, 3472 & 3471, 3470/MUM/2023 Assessment Years: 2014-15 to 2017-18 & 2020-21 to 2021-22 M/s Sanman Trade Impex Ltd. Asst. CIT Central Circle-4(4), 1410, Maker Chamber V, Air India Building, Vs. Nariman Point, Nariman Point, Mumbai-400021. Mumbai-400021. PAN NO. AADCS 2973 A Appellant Respondent ITA Nos. 3606, 3605, 3603, 3602, 3614 & 3610, 3601/MUM/2023 Assessment Years: 2014-15 to 2018-19 & 2020-21 to 2021-22 DCIT Central Circle…

SANMAN TRADE IMPEX LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-4(4), MUMBAI, MUMBAI

ITA 3491/MUM/2023[2014-15]Status: DisposedITAT Mumbai24 Jul 2024AY 2014-15

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

Section 10ASection 115JSection 143(3)Section 147Section 149Section 151Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) ITA Nos. 3491, 3474, 3473, 3472 & 3471, 3470/MUM/2023 Assessment Years: 2014-15 to 2017-18 & 2020-21 to 2021-22 M/s Sanman Trade Impex Ltd. 1410, Maker Chamber V, Nariman Point, Mumbai-400021. PAN NO. AADCS 2973 A Appellant Vs. Asst. CIT Central Circle-4(4), Air India Building, Nariman Point, Mumbai-400021. Respondent ITA Nos. 3606, 3605, 3603, 3602, 3614 & 3610, 3601/MUM/2023 Assessment Years: 2014-15 to 2018-19 & 2020-21 to 2021-22 DCIT Central Circle-4(…

SANMAN TRADE IMPEX LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX-CENTRAL CIRCLE 4(4), MUMBAI, MUMBAI

In the result, appeals of the Revenue are dismissed dismissed whereas appeals of the assessee are partly allowed appeals of the assessee are partly allowed

ITA 3474/MUM/2023[2015-16]Status: DisposedITAT Mumbai24 Jul 2024AY 2015-16

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Dr. Kishor Dhule, CIT-DRFor Respondent: Mr. Rakesh Joshi
Section 143(3)Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) ITA Nos. 3491, 3474, 3473, 3472 & 3471, 3470/MUM/2023 Assessment Years: 2014-15 to 2017-18 & 2020-21 to 2021-22 M/s Sanman Trade Impex Ltd. Asst. CIT Central Circle-4(4), 1410, Maker Chamber V, Air India Building, Vs. Nariman Point, Nariman Point, Mumbai-400021. Mumbai-400021. PAN NO. AADCS 2973 A Appellant Respondent ITA Nos. 3606, 3605, 3603, 3602, 3614 & 3610, 3601/MUM/2023 Assessment Years: 2014-15 to 2018-19 & 2020-21 to 2021-22 DCIT Central Circle…

SANMAN TRADE IMPEX LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-4(4), MUMBAI, MUMBAI

ITA 3473/MUM/2023[2016-17]Status: DisposedITAT Mumbai24 Jul 2024AY 2016-17

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Mr. Rakesh JoshiFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 10ASection 115JSection 143(3)Section 147Section 149Section 151Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) ITA Nos. 3491, 3474, 3473, 3472 & 3471, 3470/MUM/2023 Assessment Years: 2014-15 to 2017-18 & 2020-21 to 2021-22 M/s Sanman Trade Impex Ltd. 1410, Maker Chamber V, Nariman Point, Mumbai-400021. PAN NO. AADCS 2973 A Appellant Vs. Asst. CIT Central Circle-4(4), Air India Building, Nariman Point, Mumbai-400021. Respondent ITA Nos. 3606, 3605, 3603, 3602, 3614 & 3610, 3601/MUM/2023 Assessment Years: 2014-15 to 2018-19 & 2020-21 to 2021-22 DCIT Central Circle-4(…

SANMAN TRADE IMPEX LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-4(4), MUMBAI, MUMBAI

ITA 3472/MUM/2023[2017-18]Status: DisposedITAT Mumbai24 Jul 2024AY 2017-18

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Mr. Rakesh JoshiFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 10ASection 115JSection 143(3)Section 147Section 149Section 151Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) ITA Nos. 3491, 3474, 3473, 3472 & 3471, 3470/MUM/2023 Assessment Years: 2014-15 to 2017-18 & 2020-21 to 2021-22 M/s Sanman Trade Impex Ltd. 1410, Maker Chamber V, Nariman Point, Mumbai-400021. PAN NO. AADCS 2973 A Appellant Vs. Asst. CIT Central Circle-4(4), Air India Building, Nariman Point, Mumbai-400021. Respondent ITA Nos. 3606, 3605, 3603, 3602, 3614 & 3610, 3601/MUM/2023 Assessment Years: 2014-15 to 2018-19 & 2020-21 to 2021-22 DCIT Central Circle-4(…

SANMAN TRADE IMPEX LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAXCENTRAL CIRCLE-4(4), MUMBAI, MUMBAI

In the result, appeals of the Revenue are dismissed whereas

ITA 3471/MUM/2023[2020-21]Status: DisposedITAT Mumbai24 Jul 2024AY 2020-21

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Mr. Rakesh JoshiFor Respondent: Dr. Kishor Dhule, CIT-DR
Section 10ASection 115JSection 143(3)Section 147Section 149Section 151Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) ITA Nos. 3491, 3474, 3473, 3472 & 3471, 3470/MUM/2023 Assessment Years: 2014-15 to 2017-18 & 2020-21 to 2021-22 M/s Sanman Trade Impex Ltd. 1410, Maker Chamber V, Nariman Point, Mumbai-400021. PAN NO. AADCS 2973 A Appellant Vs. Asst. CIT Central Circle-4(4), Air India Building, Nariman Point, Mumbai-400021. Respondent ITA Nos. 3606, 3605, 3603, 3602, 3614 & 3610, 3601/MUM/2023 Assessment Years: 2014-15 to 2018-19 & 2020-21 to 2021-22 DCIT Central Circle-4(…

SANMAN TRADE IMPEX LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX- CENTRAL CIRCLE 4(4), MUMBAI, MUMBAI

In the result, appeals of the Revenue are dismissed dismissed whereas appeals of the assessee are partly allowed appeals of the assessee are partly allowed

ITA 3470/MUM/2023[2021-22]Status: DisposedITAT Mumbai24 Jul 2024AY 2021-22

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Dr. Kishor Dhule, CIT-DRFor Respondent: Mr. Rakesh Joshi
Section 143(3)Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) ITA Nos. 3491, 3474, 3473, 3472 & 3471, 3470/MUM/2023 Assessment Years: 2014-15 to 2017-18 & 2020-21 to 2021-22 M/s Sanman Trade Impex Ltd. Asst. CIT Central Circle-4(4), 1410, Maker Chamber V, Air India Building, Vs. Nariman Point, Nariman Point, Mumbai-400021. Mumbai-400021. PAN NO. AADCS 2973 A Appellant Respondent ITA Nos. 3606, 3605, 3603, 3602, 3614 & 3610, 3601/MUM/2023 Assessment Years: 2014-15 to 2018-19 & 2020-21 to 2021-22 DCIT Central Circle…

ORIENTAL CHARITABLE FOUNDATION,KOLKATA vs. CIT(EXEMPTIONS), KOLKATA

In the result, the appeal of the assessee is partly allowed

ITA 257/KOL/2022[2017-18]Status: DisposedITAT Kolkata04 Jul 2024AY 2017-18

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2017-18

For Appellant: Shri Siddarth Agrwal, AdvocateFor Respondent: Shri Subhendu Datta, CIT, DR
Section 11Section 11(1)(d)Section 12ASection 143(3)Section 263

…1 IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI RAKESH MISHRA, ACCOUNTANT MEMBER Assessment Year: 2017-18 Oriental Charitable Foundation ACIT Circle-1(1)(Exempt), P-46A, Radha Bazar Lane, Vs Kolkata. Kolkata-700001. (PAN: AAATO0629B) (Appellant) (Respondent) Present for: Appellant by : Shri Siddarth Agrwal, Advocate Respondent by : Shri Subhendu Datta, CIT, DR Date of Hearing : 08.05.2024 Date of Pronouncement : 04.07.2024 O R D E R PER RAKESH MISHRA, ACCOUNTANT MEMBER: This appeal filed by the assessee is against the revision order of the Ld. Commissio…

VERITAS (INDIA) LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-4(4), MUMBAI, MUMBAI

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

ITA 3478/MUM/2023[2021-22]Status: DisposedITAT Mumbai18 Jun 2024AY 2021-22

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhailassessment Year :2021-22 M/S. Veritas (India) Limited, Veritas House, 70, Mint Road, Fort, Mumbai – 400 001 Pan: Aaacd-1654-J ---- Appellant Vs. Assistant Commissioner Of Income Tax, Central Circle-4(4),Mumbai, Air India Building, Nariman Point, Mumbai – 400 021 --- Respondent Assessment Year 2021-22 Deputy Commissioner Of Income Tax, Central Circle-4(4),Mumbai, Air India Building, Room No.1918, 19Th Floor, Nariman Point Mumbai – 400 021 ...... Appellant Vs.

For Appellant: Shri Rakesh JoshiFor Respondent: Shri Surendra Meena
Section 10ASection 133A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER Assessment Year :2021-22 M/s. Veritas (India) Limited, Veritas House, 70, Mint Road, Fort, Mumbai – 400 001 PAN: AAACD-1654-J ---- Appellant Vs. Assistant Commissioner of Income Tax, Central Circle-4(4),Mumbai, Air India Building, Nariman Point, Mumbai – 400 021 --- Respondent Assessment Year 2021-22 Deputy Commissioner of Income Tax, Central Circle-4(4),Mumbai, Air India Building, Room No.1918, 19th Floor, Nariman Point Mumbai – 400 021 ...... Appellant Vs.…

DEPUTY COMMISSIONER OF INCOME TAX CC-4(4), MUMBAI, MUMBAI vs. VERITAS (INDIA) LIMITED, MUMBAI

In the result, the appeal of the assessee is allowed and the appeal of

ITA 3410/MUM/2023[2021-22]Status: DisposedITAT Mumbai18 Jun 2024AY 2021-22

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

Section 10ASection 133A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA NO.3478/MUM/2023 Assessment Year :2021-22 M/s. Veritas (India) Limited, Veritas House, 70, Mint Road, Fort, Mumbai – 400 001 PAN: AAACD-1654-J Vs. Appellant Assistant Commissioner of Income Tax, Central Circle-4(4),Mumbai, Air India Building, Nariman Point, Mumbai – 400 021 Respondent ITA NO.3410/MUM/2023 Assessment Year 2021-22 Deputy Commissioner of Income Tax, Central Circle-4(4),Mumbai, Air India Building, Room No.1918, 19th Floor, Nariman Point Mumbai…

THE KERALA MINERALS AND METALS LTD.,KOLLAM vs. THE DICT, KOLLAM

In the result, the assessee’s appeal is dismissed

ITA 96/COCH/2022[2005-06]Status: DisposedITAT Cochin28 Mar 2024AY 2005-06

Bench: Shri Sanjay Arora & Shri Manomohan Dasthe Kerala Minerals & Metals Ltd. Dy. Commissioner Of Income Tax Sankaramangalam Circle - 1, Kollam Chavara, Kollam 691001 Vs. [Pan:Aaact8118R] (Appellant) (Respondent)

For Appellant: Shri Rajeev R., CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 154Section 244A

…s the unit of assessment, and for which reference, for the sake of completeness of this order, may be made to ITO vs. Murlidhar Bhagwan Das [1964] 52 ITR 335 (SC); Radhasoami Satsang v. CIT [1992] 193 ITR 321 (SC); Dy. CIT v. Ace-Multi Axes System Ltd. [2018] 400 ITR 141 (SC). It was not incumbent on it to travel beyond the confines the issue before it, i.e., the admissibility of the assessee’s claim for the relevant year, and by enabling the assessee to pursue the matter under law for the current year, it has only decided the matter in a more equitable manner. The same cannot be interpreted to mean that it has t…

ATC LOGISTICAL SOLUTIONS PRIVATE LIMITED ,DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, AMRITSAR

In the result, appeal of the assessee ITA No

ITA 241/ASR/2023[2017-18]Status: DisposedITAT Amritsar31 Oct 2023AY 2017-18

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 115JSection 139Section 143(1)Section 143(3)Section 154Section 250Section 36(1)(va)Section 37(1)Section 40ASection 40A(7)

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR. BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No. 241/Asr/2023 Assessment Year: 2017-18 ATC Logistical Solutions Pvt. Vs. Dy. Commissioner of Ltd. Amritsar Transport Co. Income tax, Circle-1, Pvt. Ltd.3981/83 1st Floor Naya Amritsar. Bazar, New Delhi. [PAN:-AABCA6200A] (Appellant) (Respondent) Appellant by Sh. P. N. Arora, Adv. Respondent by Sh. Rajiv Wadhera, Sr. DR. Date of Hearing 04.10.2023 Date of Pronouncement 31.10.2023 ORDER Per: Anikesh Banerjee, JM: The instant appeal of the assessee was f…

PRATHAMIK KRUSHI PATTIN SAHAKARI SANGH NIYAMIT,BEDKIHAL vs. INCOME TAX OFFICER, WARD - 1, NIPANI

ITA 24/PAN/2023[2017-18]Status: DisposedITAT Panaji06 Oct 2023AY 2017-18

Bench: Hon’Ble Shri Satbeer Singh Godara & Shri G. D. Padmahshali(Through Virtual Hearing From Pune) Asstt Sr

Section 250Section 253(1)Section 80P(2)

…. And this exercise, in our considered view needs to be undertaken for each assessment year separately, since each assessment year is a separate unit in view of the law laid down by the Apex Court in ‘CIT Vs Ace Multi Axes Systems Ltd. [2018] 252 Taxman 274 & 400 ITR 141 (SC). ITAT-Panaji Page 8 of 18 Marcel Urban Co-Op. Credit Society Ltd. & Ors Vs ITOs, ITA No.002 & 022 to 024/PAN/2023 12.4 In the light of forgoing discussion and settled legal position, the business transactions of providing credit facilities carried out by the participative shareholder members of credit society in mutual association with ea…

SHRI GOPALKRISHNA CO-OPERATIVE SOCIETY LIMITED,BHATKAL vs. INCOME TAX OFFICER, WARD - 1, KARWAR

ITA 23/PAN/2023[2018-19]Status: DisposedITAT Panaji06 Oct 2023AY 2018-19

Bench: Hon’Ble Shri Satbeer Singh Godara & Shri G. D. Padmahshali(Through Virtual Hearing From Pune) Asstt Sr

Section 250Section 253(1)Section 80P(2)

…. And this exercise, in our considered view needs to be undertaken for each assessment year separately, since each assessment year is a separate unit in view of the law laid down by the Apex Court in ‘CIT Vs Ace Multi Axes Systems Ltd. [2018] 252 Taxman 274 & 400 ITR 141 (SC). ITAT-Panaji Page 8 of 18 Marcel Urban Co-Op. Credit Society Ltd. & Ors Vs ITOs, ITA No.002 & 022 to 024/PAN/2023 12.4 In the light of forgoing discussion and settled legal position, the business transactions of providing credit facilities carried out by the participative shareholder members of credit society in mutual association with ea…

SHRI GOPALKRISHNA CO-OPERATIVE SOCIETY LIMITED,BHATKAL vs. INCOME TAX OFFICER, WARD - 1, KARWAR

ITA 22/PAN/2023[2017-18]Status: DisposedITAT Panaji06 Oct 2023AY 2017-18

Bench: Hon’Ble Shri Satbeer Singh Godara & Shri G. D. Padmahshali(Through Virtual Hearing From Pune) Asstt Sr

Section 250Section 253(1)Section 80P(2)

…. And this exercise, in our considered view needs to be undertaken for each assessment year separately, since each assessment year is a separate unit in view of the law laid down by the Apex Court in ‘CIT Vs Ace Multi Axes Systems Ltd. [2018] 252 Taxman 274 & 400 ITR 141 (SC). ITAT-Panaji Page 8 of 18 Marcel Urban Co-Op. Credit Society Ltd. & Ors Vs ITOs, ITA No.002 & 022 to 024/PAN/2023 12.4 In the light of forgoing discussion and settled legal position, the business transactions of providing credit facilities carried out by the participative shareholder members of credit society in mutual association with ea…

THE MARCEL URBAN CO-OPERATIVE CREDIT SOCIETY LIMITED,MARCEL vs. INCOME TAX OFFICER, WARD - 2(3), PANAJI

ITA 2/PAN/2023[2013-14]Status: DisposedITAT Panaji06 Oct 2023AY 2013-14

Bench: Hon’Ble Shri Satbeer Singh Godara & Shri G. D. Padmahshali(Through Virtual Hearing From Pune) Asstt Sr

Section 250Section 253(1)Section 80P(2)

…. And this exercise, in our considered view needs to be undertaken for each assessment year separately, since each assessment year is a separate unit in view of the law laid down by the Apex Court in ‘CIT Vs Ace Multi Axes Systems Ltd. [2018] 252 Taxman 274 & 400 ITR 141 (SC). ITAT-Panaji Page 8 of 18 Marcel Urban Co-Op. Credit Society Ltd. & Ors Vs ITOs, ITA No.002 & 022 to 024/PAN/2023 12.4 In the light of forgoing discussion and settled legal position, the business transactions of providing credit facilities carried out by the participative shareholder members of credit society in mutual association with ea…

Showing 1–20 of 61 · Page 1 of 4

CIT v. Ace Multi Axes Systems Ltd. (88 Taxmann.com 69) — Cited in 61 Judgments | BharatTax