CIT v. Bharat Vijay Mills Ltd.

128 ITR 633High Court1988#22426 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2019.

Judgments citing CIT v. Bharat Vijay Mills Ltd.

SHARMA CARS PVT. LTD.,,AHMEDABAD vs. THE DY. CIT, CIRCLE-8, NOW CIRCLE-4(1)(1),, AHMEDABAD

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

ITA 1655/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad01 Feb 2019AY 2011-12

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 1655/Ahd/2015 "नधा"रण वष"/Assessment Year: 2011-12 Sharma Cars P.Ltd. Dcit, Cir.8 “Kayakalp”, N.H. No.8 Vs Ahmedabad. Naroda, Ahmedabad 382330. Pan: Aadcs 0305 E अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri T.P. Hemani & Shri P.B. Parmar, Ar Revenue By : Shri Vinod Tanwani, Sr.Dr

For Appellant: Shri T.P. Hemani, and Shri P.B. Parmar, ARFor Respondent: Shri Vinod Tanwani, Sr.DR

Section 143(2)Section 40A(2)Section 40A(2)(b)

…effect over the provisions of any other section of Income-tax Act, 1961. It was held by the Hon'ble Supreme Court in Shri Sajjan Mills Ltd. vs CIT (1985) 156 ITR 585(SC). Further Hon'ble Guj'arat High Court in CIT vs Bharat Vijay Mills Ltd. (1988) reported at 128 ITR 633 (Guj.) has held that provisions of sec.40A have been declared to be of overriding nature. The non obstante clause at the beginning of sec. 40A(1) clearly indicate that if any other provisions exist somewhere on the statute book, they have to give way to clear the express provisions of sec.40A. 3.3 The above discussion clearly reveals that the ex…

ITO 12(2)(2), MUMBAI vs. ESKAY ELEVATORS (INDIA) P.LTD, MUMBAI

In the result, appeal of the Revenue of the dismissed

ITA 423/MUM/2017[2011-12]Status: DisposedITAT Mumbai06 Aug 2018AY 2011-12

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm Ito 12(2)(2), Vs. M/S. Eskay Elevators (India) Pvt. Ltd., Room No.146A, 1St Floor Eskay House At Eskay Resorts Aayakar Bhavan Off. Link Road, Borivali West M.K.Road, Mumbai - 20 Mumbai – 400 091

Section 143(3)Section 40ASection 40A(2)Section 40A(2)(b)

…0,16,9707- (1,82,10,000/-- 91,93,030/-) was disallowed u/s 40A(2)(b) by the A.O. being excessive remuneration paid to the director.. In this regard it is no-ted that the Hon'ble Gujarat High Court in the case of CIT vs Bharat Vijay Mills Ltd. 1988 reported at 128 ITR 633 (Guj.) has held that provisions of sec.40A have been declared to be of overriding nature. The effect of this decision of the Hon'ble High Court is that the excessive directors remuneration can always be disallowed as per the provisions of sec.40A(2) of the I.T. Act if these are found to be excessive or unreasonable, in relation to the legitimate…

PATEL ALLOY STEEL PVT.LTD.,,AHMEDABAD vs. THE DY.CIT, CIRCLE-3(1)(1),, AHMEDABAD

Appeal is allowed

ITA 3158/AHD/2015[2012-13]Status: DisposedITAT Ahmedabad11 Jan 2018AY 2012-13

For Appellant: Shri Bandish Soparkar, A.RFor Respondent: Shri Mudit Nagpal, Sr. D.R

Section 143(3)Section 14ASection 14A(2)Section 40Section 40ASection 40A(2)Section 40A(2)(a)

…isions of sec.40A(2) of the I.T. Act. The provisions of sec.40A start with non obstante clause and have overriding effect over the provisions of any other section of Income-tax Act, 1961. The Hon'ble Gujarat High court in CIT vs Bharat Vijay Mills Ltd. (1988) 128 ITR 633 (Guj.) has held that provisions of sec.40A have been declared to be of an overriding nature. The non obstante clause at the beginning of sec.40A(l) clearly indicates that if any other provisions exist somewhere on the statute book, they have to give way to clear the express provisions of Section 40A. 5.2.1 In view of the overriding provisions of…