CIT v. Alfa Laval India Ltd.

295 ITR 451Supreme Court of India2007#4238 most cited
28

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2024.

Sections most often in play

Section 1956: Section 211(3C)Section 1961: Section 142(1)Section 1961: Section 143(2)Section 1961: Section 37(1)Section 1961: Section 40(a)(ia)Section 2006

Judgments citing CIT v. Alfa Laval India Ltd.

NIHON PARKERIZING (INDIA) PVT. LTD.,,GURGAON vs. DCIT CIRCLE-18(1), NEW DELHI

The Appeal of the assessee is partly allowed

ITA 5441/DEL/2019[2013-14]Status: DisposedITAT Delhi10 Jul 2024AY 2013-14

Bench: Sh. Pradip Kumar Kedia & Shri Yogesh Kumar U.S.I.T.A. No. 5441/Del/2019 (A.Y 2013-14)

For Appellant: Shri Harsh Kumar & Sh
Section 142(1)Section 143(2)Section 40Section 40a

…uction for the obsolete inventory written off u/s 37(1) of the Act and relied upon the decision rendered by Hon'ble Bombay High Court in case of Alfa Laval India Ltd. vs. DCIT - 266 ITR 418 (Bom.), affirmed by the Hon'ble Supreme Court by judgment reported in 295 ITR 451. The ld. AR for the taxpayer also contended that the taxpayer has submitted audit report of an independent auditor prepared on the basis of physical verification and maintenance of inventory during assessment proceedings and further relied upon the decision rendered by coordinate Bench of the Tribunal in Gillette India Ltd. vs. ACIT - 66 taxmann.…

MILESTONE DEWELLERS PVT. LTD.,JAIPUR vs. ITO WARD 6(2), JAIPUR

In the result, appeal of the assessee is allowed

ITA 565/JPR/2023[2017-18]Status: DisposedITAT Jaipur31 Oct 2023AY 2017-18

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Manish Agarwal (C.A.)For Respondent: Shri Arvind Kumar (CIT) a
Section 143(3)Section 144BSection 147

…assessee would be able to claim cost to that extent only in the year when Units in Project are sold and Revenue is generated. In this regard, reliance is placed on decision of Hon’ble Apex Court in the case of CIT vs Alfa Laval (India) Ltd. (2007) reported in 295 ITR 451 (SC), wherein it is held as under: “…..that the duly certified auditor's report placed before the Assessing Officer clearly justified valuation of obsolete items at 10 per cent of cost. There was no dispute that the assessee is entitled to value the closing stock at market value or art cost whichever is lower. It was also not in dispute that the…

B G EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME, DDIT/ ADIT (INTERNATIONAL TAXATION), CIRCLE-1, DEHRADUN, DEHRADUN

In the result, both the appeals of the assessee are allowed

ITA 47/DDN/2022[2018-19]Status: DisposedITAT Dehradun27 Dec 2022AY 2018-19

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Mayak Kumar, JCIT, DR
Section 143(3)Section 144C(5)

…e loss on account of inventory written-off 48. Attention in this regard is invited to the decision of the jurisdictional Bombay High Court in case of Alfa Laval India Ltd. v/s. DCIT (266 ITR 418) (Bom) (which has been affirmed by the Supreme Court report in (295 ITR 451) where in a similar circumstances while allowing the claim of deduction of obsolete inventory the High Court has held that: “where there is no dispute that the duly certified auditor's report placed before the Assessing Officer clearly justified valuation of obsolete items at 10 per cent, of cost and also the fact that there is no dispute that t…

B G EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME, DDIT/ ADIT (INTERNATIONAL TAXATION), CIRCLE-1, DEHRADUN, DEHRADUN, UTTARAKHAND

In the result, both the appeals of the assessee are allowed

ITA 13/DDN/2022[2015-16]Status: DisposedITAT Dehradun27 Dec 2022AY 2015-16

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Mayak Kumar, JCIT, DR
Section 143(3)Section 144C(5)

…e loss on account of inventory written-off 48. Attention in this regard is invited to the decision of the jurisdictional Bombay High Court in case of Alfa Laval India Ltd. v/s. DCIT (266 ITR 418) (Bom) (which has been affirmed by the Supreme Court report in (295 ITR 451) where in a similar circumstances while allowing the claim of deduction of obsolete inventory the High Court has held that: “where there is no dispute that the duly certified auditor's report placed before the Assessing Officer clearly justified valuation of obsolete items at 10 per cent, of cost and also the fact that there is no dispute that t…

RACOLD THERMO PVT.LTD,(FORMERLY KNOW AS RACOLD THERMO LIMITED),,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 10,, PUNE

In the result, the appeal filed by the assessee stands partly allowed for statistical purposes

ITA 681/PUN/2018[2013-14]Status: DisposedITAT Pune20 Jul 2022AY 2013-14

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपील सं. / Ita No.681/Pun/2018 िनधा"रण वष" / Assessment Year: 2013-14 Racold Thermo Pvt. Ltd. Vs. Acit, Circle-10, Pune. (Formerly Known As Racold Thermo Limited), Gat No.265/374-376, Kharabwadi, Chakan- Talegaon Road, Tal. Khed, Chakan, Pune- 410501. Pan : Aaecm0766G Appellant Respondent Assessee By : Shri Ketan Ved Revenue By : Shri Arvind Desai Date Of Hearing : 18.07.2022 Date Of Pronouncement : 20.07.2022 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-6, Pune [‘The Cit(A)’] Dated 14.02.2018 For The Assessment Year 2013-14. 2. The Appellant Raised The Following Grounds Of Appeal :- “1 : 0 Re.: Disallowance Of Provision For Obsolescence Of Inventory :

For Appellant: Shri Ketan VedFor Respondent: Shri Arvind Desai
Section 143(3)

…ed that the provision for obsolete stock should be allowed following the decision of Hon’ble Bombay High Court in the case of Alfa Laval India Vs. DCIT, 186 CTR 390 (Bom.) as confirmed by the Hon'ble Supreme Court in the case of CIT Vs. Alfa Laval India Ltd., 295 ITR 451(SC) and also the Co-ordinate Bench of Tribunal and also the Hon’ble Rajasthan High Court in the case of CIT vs. Wolkem India Limited 221 ITR 767 (Raj) and the Hon’ble Delhi High Court in the case of CIT Vs. Hotline Teletube & Components Ltd. (2008) 175 Taxman 286 (Del). 7. On the other hand, the ld. Sr. DR opposed the submissions of assessee and…

BG EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, DDIT/ADIT (INTERNATIONAL TAXATION), CIRCLE -1, DEHRADUN

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

ITA 5/DDN/2022[2017-2018]Status: DisposedITAT Dehradun31 Mar 2022AY 2017-2018
For Appellant: Shri Ajay Vohra, Sr. Advocate &For Respondent: Shri T.S. Mapwal, Sr. DR
Section 143(3)Section 144C(13)Section 92C

…tion for the obsolete inventory written off u/s 37(1) of the Act and relied upon the decision rendered by Hon’ble Bombay High Court in case of Alfa Laval India Ltd . vs . DCIT – 266 ITR 418 (Bom.), affirmed by the Hon’ble Supreme Court by judgment reported in 295 ITR 451. The ld. AR for the taxpayer also contended that the taxpayer has submitted audit report of an independent auditor prepared on the basis of physical verification and maintenance of inventory during assessment proceedings and further relied upon the decision rendered by coordinate Bench of the Tribunal in Gillette India Ltd. vs . ACIT – 66 taxmann…

RACOLD THERMO PRIVATE LIMITED (FORMERLY KNOWN AS RACOLD THERMO LIMITED),,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,,

In the result, the appeal filed by assessee stands partly allowed for statistical purposes

ITA 2920/PUN/2016[2009-10]Status: DisposedITAT Pune22 Mar 2022AY 2009-10

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Respondent: Shri Ketan Ved
Section 143(3)

…order. The appellant also relied on plethora of decisions including the Hon’ble Bombay High Court in the case of Alfa Laval India Vs. DCIT (2004) 186 CTR 390 (Bom), which was confirmed by the Hon'ble Supreme Court in the case of CIT Vs. Alfa Laval India Ltd. 295 ITR 451 (SC). However, the AO disallowed the provision by holding that the provision cannot be allowed based on the internal accounting policy of the company and inventory has to be valued at cost or market price, whichever is lower. Aggrieved by the above decision an appeal was filed before the ld. CIT(A), who vide impugned order has upheld the action o…

RACOLD THERMO PRIVATE LIMITED (FORMERLY KNOWN AS RACOLD THERMO LIMITED),,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX,, PUNE

In the result, the appeal filed by assessee stands partly allowed for statistical purposes

ITA 499/PUN/2017[2011-12]Status: DisposedITAT Pune22 Mar 2022AY 2011-12

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Respondent: Shri Ketan Ved
Section 143(3)

…order. The appellant also relied on plethora of decisions including the Hon’ble Bombay High Court in the case of Alfa Laval India Vs. DCIT (2004) 186 CTR 390 (Bom), which was confirmed by the Hon'ble Supreme Court in the case of CIT Vs. Alfa Laval India Ltd. 295 ITR 451 (SC). However, the AO disallowed the provision by holding that the provision cannot be allowed based on the internal accounting policy of the company and inventory has to be valued at cost or market price, whichever is lower. Aggrieved by the above decision an appeal was filed before the ld. CIT(A), who vide impugned order has upheld the action o…

BG EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX DDIT/ADIT (INTERNATIONAL TAXATION ) CIRCLE-1, DEHRADUN

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

ITA 7/DDN/2021[2016-17]Status: DisposedITAT Dehradun14 Dec 2021AY 2016-17

Bench: Shri R.K. Panda & Shri V.P. Raoassessment Years: 2016-17

For Appellant: Sh. Ajay Vohra, Sr. AdvocateFor Respondent: Sh. N.S. Jangpangi, CIT/DR
Section 143(3)Section 144C(13)Section 144C(5)Section 44C

…uction for the obsolete inventory written off u/s 37(1) of the Act and relied upon the decision rendered by Hon’ble Bombay High Court in case of Alfa Laval India Ltd. vs. DCIT – 266 ITR 418 (Bom.), affirmed by the Hon’ble Supreme Court by judgment reported in 295 ITR 451. The ld. AR for the taxpayer also contended that the taxpayer has submitted audit report of an independent auditor prepared on the basis of physical verification and maintenance of inventory during assessment proceedings and further relied upon the decision rendered by coordinate Bench of the Tribunal in Gillette India Ltd. vs. ACIT – 66 taxmann.…

ACIT (LTU), NEW DELHI vs. M/S HAVELLS INDIA LTD., NEW DELHI

In the result, appeal of the assessee is partly allowed

ITA 466/DEL/2011[2007-08]Status: DisposedITAT Delhi25 Aug 2020AY 2007-08

Bench: Shri Amit Shukla & Shri Prashant Maharishihavells India Ltd, Vs. Dcit, 1/7 Ram Kishore Road, Circle-12(1), Civil Lines, New Delhi Cr Building Ip Estate, Pan: Aaach0351E New Delhi (Appellant) (Respondent) Havells India Ltd, Vs. Dcit, 1/7 Ram Kishore Road, Ltu, Nbcc Plaza, Civil Lines, New Delhi Pusp Vihar, Sector-4, Saket, Pan: Aaach0351E New Delhi (Appellant) (Respondent) Acit (Ltu), Vs. Havells India Ltd, Nbcc Plaza, Pusp Vihar, Sector- 1/7 Ram Kishore Road, 4, Saket, New Delhi Civil Lines, New Delhi Pan: Aaach0351E (Appellant) (Respondent)

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri Saras Kumar, Sr. DR
Section 143(3)Section 144ASection 14ASection 80H

…the appellant; hence, it should be included in the profit of the business for claiming deduction under section 80HHC of the Act. Assessee supported its contentions by relying on decision of Honourable Supreme Court in the case of CIT vs Alfa Laval India Ltd.: 295 ITR 451, wherein it has been held that interest from customers is to be included as business profits for computation of deduction under section 80HHC of the Act. He also relied up on decisions wherein it has been held that interest income earned on margin money, when inextricably linked with the business of the assessee, will be assessable as business in…

M/S HAVELLS INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal of the assessee is partly allowed

ITA 6073/DEL/2010[2007-08]Status: DisposedITAT Delhi25 Aug 2020AY 2007-08

Bench: Shri Amit Shukla & Shri Prashant Maharishihavells India Ltd, Vs. Dcit, 1/7 Ram Kishore Road, Circle-12(1), Civil Lines, New Delhi Cr Building Ip Estate, Pan: Aaach0351E New Delhi (Appellant) (Respondent) Havells India Ltd, Vs. Dcit, 1/7 Ram Kishore Road, Ltu, Nbcc Plaza, Civil Lines, New Delhi Pusp Vihar, Sector-4, Saket, Pan: Aaach0351E New Delhi (Appellant) (Respondent) Acit (Ltu), Vs. Havells India Ltd, Nbcc Plaza, Pusp Vihar, Sector- 1/7 Ram Kishore Road, 4, Saket, New Delhi Civil Lines, New Delhi Pan: Aaach0351E (Appellant) (Respondent)

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri Saras Kumar, Sr. DR
Section 143(3)Section 144ASection 14ASection 80H

…the appellant; hence, it should be included in the profit of the business for claiming deduction under section 80HHC of the Act. Assessee supported its contentions by relying on decision of Honourable Supreme Court in the case of CIT vs Alfa Laval India Ltd.: 295 ITR 451, wherein it has been held that interest from customers is to be included as business profits for computation of deduction under section 80HHC of the Act. He also relied up on decisions wherein it has been held that interest income earned on margin money, when inextricably linked with the business of the assessee, will be assessable as business in…

M/S HAVELLS INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal of the assessee is partly allowed

ITA 6072/DEL/2010[2004-05]Status: DisposedITAT Delhi25 Aug 2020AY 2004-05

Bench: Shri Amit Shukla & Shri Prashant Maharishihavells India Ltd, Vs. Dcit, 1/7 Ram Kishore Road, Circle-12(1), Civil Lines, New Delhi Cr Building Ip Estate, Pan: Aaach0351E New Delhi (Appellant) (Respondent) Havells India Ltd, Vs. Dcit, 1/7 Ram Kishore Road, Ltu, Nbcc Plaza, Civil Lines, New Delhi Pusp Vihar, Sector-4, Saket, Pan: Aaach0351E New Delhi (Appellant) (Respondent) Acit (Ltu), Vs. Havells India Ltd, Nbcc Plaza, Pusp Vihar, Sector- 1/7 Ram Kishore Road, 4, Saket, New Delhi Civil Lines, New Delhi Pan: Aaach0351E (Appellant) (Respondent)

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri Saras Kumar, Sr. DR
Section 143(3)Section 144ASection 14ASection 80H

…the appellant; hence, it should be included in the profit of the business for claiming deduction under section 80HHC of the Act. Assessee supported its contentions by relying on decision of Honourable Supreme Court in the case of CIT vs Alfa Laval India Ltd.: 295 ITR 451, wherein it has been held that interest from customers is to be included as business profits for computation of deduction under section 80HHC of the Act. He also relied up on decisions wherein it has been held that interest income earned on margin money, when inextricably linked with the business of the assessee, will be assessable as business in…

DCIT 1(1)(1), MUMBAI vs. CONCORDE MOTORS (INDIA) LTD, MUMBAI

In the result, the appeals of the Revenue are dismissed and COs of the assessee are partly allowed for statistical purposes

ITA 5973/MUM/2018[2014-15]Status: DisposedITAT Mumbai29 Nov 2019AY 2014-15

Bench: Sri Mahavir Singh, Jm & Sri Waseem Ahmed, Am आयकर अपील सुं./ Ita No. 5972/Mum/2018 (यिर्ाारण वर्ा / Assessment Year 2013-14) आयकर अपील सुं./ Ita No. 5973/Mum/2018 (यिर्ाारण वर्ा / Assessment Year 2014-15) The Dy. Commissioner Of Concorde Motors (India) Ltd. Income Tax, 3Rd Floor, Nanavati Mahalaya, Room No. 533/579, 5 Th Floor, बनाम/ 18 Homi Mody Street, Hutatma Aayakar Bhawan, M.K. Road, Chowk, Fort, Mumbai-400 001 Vs. Mumbai-400 020 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा सुं./Pan No. Aaacm1054A प्रत्याक्षेप सुं./ Co No. 204/Mum/2019 (Arising Out Of Ita No.5972/Mum/2018 For Ay 2013-14) प्रत्याक्षेप सुं./ Co No. 205/Mum/2019 (Arising Out Of Ita No.5973/Mum/2018 For Ay 2014-15) Concorde Motors (India) Ltd. The Dy. Commissioner Of Income 3Rd Floor, Nanavati Mahalaya, Tax, बनाम/ 18 Homi Mody Street, Room No. 533/579, 5 Th Floor, Hutatma Chowk, Fort, Aayakar Bhawan, M.K. Road, Vs. Mumbai-400 001 Mumbai-400 020 (आपत्ति करनेवाला / Cross Objector) (प्रत्यर्थी/ Respondent/Org. Appellant) अपीलार्थी की ओर े / Appellant By : Shri Kumar Padmapani Bora, Dr प्रत्यर्थी की ओर े / Respondent By : S/Shri Rajan Vora, Nikhil Tiwari, Ars ुिवाई की तारीख / Date Of Hearing: 13.11.2019 घोर्णा की तारीख / Date Of Pronouncement : 29.11.2019

For Appellant: Shri Kumar Padmapani Bora, DRFor Respondent: S/Shri Rajan Vora
Section 143(3)

…en categorical finding in the assessment order on the said issue? 2. Whether on the facts and circumstances of the case, the Ld. CIT(A) was right in deleting the addition of Rs. 7,94,91,740/- by relying on the judgement in the case of Alfa Laval (India) Ltd, 295 ITR 451 is totally distinguishable on the facts and circumstances of the case, as in the said case, the issue was that the assessee had reduced the value at a fixed rate 10% from the cost in respect of its obsolete stock, which is not the cash in hand?" The assessee has raised the following two grounds: - “Corresponding adjustment to value of current y…

DCIT 1(1)(1), MUMBAI vs. CONCORDE MOTORS (INDIA) LTD., MUMBAI

In the result, the appeals of the Revenue are dismissed and COs of the assessee are partly allowed for statistical purposes

ITA 5972/MUM/2018[2013-14]Status: DisposedITAT Mumbai29 Nov 2019AY 2013-14

Bench: Sri Mahavir Singh, Jm & Sri Waseem Ahmed, Am आयकर अपील सुं./ Ita No. 5972/Mum/2018 (यिर्ाारण वर्ा / Assessment Year 2013-14) आयकर अपील सुं./ Ita No. 5973/Mum/2018 (यिर्ाारण वर्ा / Assessment Year 2014-15) The Dy. Commissioner Of Concorde Motors (India) Ltd. Income Tax, 3Rd Floor, Nanavati Mahalaya, Room No. 533/579, 5 Th Floor, बनाम/ 18 Homi Mody Street, Hutatma Aayakar Bhawan, M.K. Road, Chowk, Fort, Mumbai-400 001 Vs. Mumbai-400 020 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा सुं./Pan No. Aaacm1054A प्रत्याक्षेप सुं./ Co No. 204/Mum/2019 (Arising Out Of Ita No.5972/Mum/2018 For Ay 2013-14) प्रत्याक्षेप सुं./ Co No. 205/Mum/2019 (Arising Out Of Ita No.5973/Mum/2018 For Ay 2014-15) Concorde Motors (India) Ltd. The Dy. Commissioner Of Income 3Rd Floor, Nanavati Mahalaya, Tax, बनाम/ 18 Homi Mody Street, Room No. 533/579, 5 Th Floor, Hutatma Chowk, Fort, Aayakar Bhawan, M.K. Road, Vs. Mumbai-400 001 Mumbai-400 020 (आपत्ति करनेवाला / Cross Objector) (प्रत्यर्थी/ Respondent/Org. Appellant) अपीलार्थी की ओर े / Appellant By : Shri Kumar Padmapani Bora, Dr प्रत्यर्थी की ओर े / Respondent By : S/Shri Rajan Vora, Nikhil Tiwari, Ars ुिवाई की तारीख / Date Of Hearing: 13.11.2019 घोर्णा की तारीख / Date Of Pronouncement : 29.11.2019

For Appellant: Shri Kumar Padmapani Bora, DRFor Respondent: S/Shri Rajan Vora
Section 143(3)

…en categorical finding in the assessment order on the said issue? 2. Whether on the facts and circumstances of the case, the Ld. CIT(A) was right in deleting the addition of Rs. 7,94,91,740/- by relying on the judgement in the case of Alfa Laval (India) Ltd, 295 ITR 451 is totally distinguishable on the facts and circumstances of the case, as in the said case, the issue was that the assessee had reduced the value at a fixed rate 10% from the cost in respect of its obsolete stock, which is not the cash in hand?" The assessee has raised the following two grounds: - “Corresponding adjustment to value of current y…

DCIT 1(1)(1), MUMBAI vs. CONCORDE MOTORS (INDIA) LTD, MUMBAI

In the result, appeal of the assessee is dismissed

ITA 2333/MUM/2017[2012-13]Status: DisposedITAT Mumbai01 Oct 2019AY 2012-13

Bench: Shri R.C. Sharma & Shri Pawan Singhacit-1(1)(1) M/S. Concorde Motors (India) Ltd., 3Rd Floor, Nanavati 579, Aayakar Bhawan, M. K. Road, Vs. Mahalaya, 18, Homy Modi Street, Mumbai-400020. Hutatma Chowk, Mumbai-400001. Pan: Aaacm0154A Appellant Respondent

For Appellant: Shri Abi Rama Karthikeyan (Sr DR)For Respondent: Shri Rajan Vora with Shri Nikhil Tiwari (AR)
Section 115JSection 143(3)Section 2Section 254(1)

…ategorical finding in the assessment order on the said issue?"  (2) "Whether on the facts and circumstances of the case, the Ld. CIT (A) was right in deleting the addition of Rs 6,16,55,838/- by relying on the judgement in the case of Alfa Laval (India) Ltd. 295 ITR 451 is totally ITA No.2333/Mum/2017- M/s. Concorde Motors (India) Ltd. distinguishable on the facts and circumstances of the case, as in the said case,' the issue was that the assessee had reduced the value at a fixed rate of 10% from the cost in respect of its obsolete stock, which is not the case in hand?"  (3) "Whether on the facts and circums…

BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. DCIT, INTERNATIONAL TAXATION, CIRCLE-1, DEHRADUN

In the result, the appeals filed by the assessee for assessment years 2013-14 and 2014-15 are allowed as discussed hereinabove

ITA 7477/DEL/2018[2014-15]Status: DisposedITAT Delhi03 Apr 2019AY 2014-15

Bench: Sh. N. S. Saini & Smt. Beena A. Pillaiita No. 7476/Del/2018 : Asstt. Year : 2013-14

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Sanjay I. Bara, CIT DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHE ‘I-1’, NEW DELHI Before Sh. N. S. Saini, Accountant Member And Smt. Beena A. Pillai, Judicial Member ITA No. 7476/Del/2018 : Asstt. Year : 2013-14 ITA No. 7477/Del/2018 : Asstt. Year : 2014-15 B.G. Exploration & Production India Vs Deputy Commissioner of Ltd., C/o BSR & Associated LLP, 1st Income Tax, International Floor, Lodha Excelus, Apollo Mills Taxation, Circle-1, Compound, N.M. Joshi Marg, Dehradun Mahalakshmi, Mumbai-400011 (APPELLANT) (RESPONDENT) PAN No. AAACE4569K Assessee by : Sh. Ajay Vohra, Sr. Adv., Sh. Anshul Sachar, Adv. & Sh. Neeraj Jain, Adv…

BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. DCIT, INTERNATIONAL TAXATION, CIRCLE-1, DEHRADUN

In the result, the appeals filed by the assessee for assessment years 2013-14 and 2014-15 are allowed as discussed hereinabove

ITA 7476/DEL/2018[2013-14]Status: DisposedITAT Delhi03 Apr 2019AY 2013-14

Bench: Sh. N. S. Saini & Smt. Beena A. Pillaiita No. 7476/Del/2018 : Asstt. Year : 2013-14

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Sanjay I. Bara, CIT DR
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHE ‘I-1’, NEW DELHI Before Sh. N. S. Saini, Accountant Member And Smt. Beena A. Pillai, Judicial Member ITA No. 7476/Del/2018 : Asstt. Year : 2013-14 ITA No. 7477/Del/2018 : Asstt. Year : 2014-15 B.G. Exploration & Production India Vs Deputy Commissioner of Ltd., C/o BSR & Associated LLP, 1st Income Tax, International Floor, Lodha Excelus, Apollo Mills Taxation, Circle-1, Compound, N.M. Joshi Marg, Dehradun Mahalakshmi, Mumbai-400011 (APPELLANT) (RESPONDENT) PAN No. AAACE4569K Assessee by : Sh. Ajay Vohra, Sr. Adv., Sh. Anshul Sachar, Adv. & Sh. Neeraj Jain, Adv…

BG EXPLORATION & PRODUCTION INDIA LTD.,MUMBAI vs. DCIT, INTERNATIONAL TAXATION, DEHRADUN

ITA 6791/DEL/2017[2012-13]Status: DisposedITAT Delhi17 Jul 2018AY 2012-13

Bench: Shri R.K. Panda & Shri Kuldip Singh

For Appellant: Shri Ajay Vohra, Senior AdvocateFor Respondent: Shri H.K. Chaudhary, CIT DR
Section 143Section 144C

…entory written off u/s 37(1) of the Act and relied upon the 35 ITA No.6791/Del./2017 decision rendered by Hon’ble Bombay High Court in case of Alfa Laval India Ltd. vs. DCIT – 266 ITR 418 (Bom.), affirmed by the Hon’ble Supreme Court by judgment reported in 295 ITR 451. vs. ACIT – 66 taxmann.com 221. Ld. DR for the Revenue to repel the arguments addressed by the ld. AR for the taxpayer relied upon the orders of AO/DRP. 39. While deciding the identical issue, the Hon’ble Bombay High Court in case cited as Alfa Laval India Ltd. vs. DCIT (supra) held as under :- “Held, (i) that the duly certified auditor's re…

M/S VODAFONE EAST LIMITED (FORMERLY KNOWN AS VODAFONE ESSAR EAST LIMITED),KOLKATA vs. ACIT, CIR-7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

ITA 431/KOL/2012[2008-2009]Status: DisposedITAT Kolkata15 Dec 2017AY 2008-2009

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

…owing decisions, in the context of section 80HHC, the Courts have held that deduction u/s. 80-HHC of the Act is available in respect of amount taxes u/s. section 41(1) of the Act: o Alfa Laval India Limited (266 ITR 418) (Bom) affirmed by the Supreme Court in 295 ITR 451 o Extrusion Process (P) Ltd. V. ITO (106 ITD 336) (TBom) (PB II – page Nos. 160-163) o CIT v. Abdul Rahaman Industries 293 ITR 475 (Mad) (PB I – page Nos. 164-166) Thus, once the write back are taxed u/s. 41(1) of the Act, following the Delhi High Court decision in Eltek (supra), it would undisputedly be considered as receipt directly connected w…

M/S. VODAFONE ESSAR EAST LIMITED,KOLKATA vs. ACIT, CIRCLE - 7, KOLKATA, KOLKATA

343/K/2009 04-05 Revenue dismissed

ITA 673/KOL/2011[2007-08]Status: DisposedITAT Kolkata15 Dec 2017AY 2007-08

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

Section 115Section 115JSection 143(3)Section 80I

…owing decisions, in the context of section 80HHC, the Courts have held that deduction u/s. 80-HHC of the Act is available in respect of amount taxes u/s. section 41(1) of the Act: o Alfa Laval India Limited (266 ITR 418) (Bom) affirmed by the Supreme Court in 295 ITR 451 o Extrusion Process (P) Ltd. V. ITO (106 ITD 336) (TBom) (PB II – page Nos. 160-163) o CIT v. Abdul Rahaman Industries 293 ITR 475 (Mad) (PB I – page Nos. 164-166) Thus, once the write back are taxed u/s. 41(1) of the Act, following the Delhi High Court decision in Eltek (supra), it would undisputedly be considered as receipt directly connected w…

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