CIT v. Cotton Naturals (I) (P.) Ltd.

55 Taxmann.com 523High Court2015#291 most cited

What is CIT v. Cotton Naturals (I) (P.) Ltd. authority for?

The interest rate for benchmarking foreign currency loans advanced to Associated Enterprises should be the market-determined rate applicable to the currency of the loan, such as LIBOR for US Dollar loans, rather than a domestic lending rate like the Indian PLR.

273

judgments rely on this decision, according to BharatTax’s citation analysis of 369,743 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Cotton Naturals (I) (P.) Ltd. · 55 Taxmann.com 523 · 231 Taxmann 401 · section 92B · section 92CA(3) · arm's length interest · foreign currency loan · outstanding receivables · LIBOR · PLR · benchmarking interest · associated enterprise

Also reported as

231 Taxmann 401

Sections most often in play

Section 143(3)Section 92BSection 144C(13)Section 144BSection 144C(5)Section 234BSection 92CA(3)Section 234C
Read the full judgment

Issues it is cited on

interest on outstanding receivablessection 92b(1)safe harbour rulessafe harboursection 92bsection 72asection 92(1)preliminary expensescup methodcorporate guaranteeworking capital adjustmenttransfer pricing order

Judgments citing CIT v. Cotton Naturals (I) (P.) Ltd.

M/S. Electrosteel Casting Limited., Kolkata vs. DCIT, Cental Circle - 4(4), Kolkata

ITA 138/KOL/2018[2012-13]Status: DisposedITAT Kolkata28 Feb 2019AY 2012-13

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Dr. P. K. Srihari, CIT-DR & Robin Choudhury, Addl.CIT(DR)
Section 115JSection 143(3)Section 14A

…TAT(Delhi) in case of Kohinoor Foods Ltd. Vs. ACIT[67 SOT 108] I.T.A Nos.191 & 192/Kol/2018 & I.T.A Nos.138 & 139/Kol/2018 M/s. Electrosteel Castings Ltd. Assessment Year: 2012-13 & 2013-14  Delhi High Court in case of CIT Vs. Cotton Naturals (I) Pvt. Ltd. [276 CTR 475]  ITAT (Ahmedabad) in case of Micro Links Ltd.[157 TTJ 289]  ITAT(Delhi) in case of Knorr Bremse India Pvt. Ltd. [56 SOT 349] 4.3.1 Without prejudice to the above, if at all we consider the loan transaction to be an 'international transaction', even then the ALP of 14.41% arrived at by the AO is arbitrary and hence cannot be adopted. The AO in…

DCIT, New Delhi vs. M/S Jsl Ltd., Hisar

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

ITA 4110/DEL/2013[2007-08]Status: DisposedITAT Delhi19 Nov 2018AY 2007-08

Bench: Smt Diva Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Kumar Parnav, Sr. DR
Section 92CSection 92C(2)

…ITA No 4249 / Del/2012, 4110/Del/2013 & 6337/Del/2013 A Y 2007-08 and 2008-09 Jindal Steel Limited Vs ACIT Cen Circle 4(1) , New Delhi INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ―I-I‖ NEW DELHI BEFORE SMT DIVA SINGH, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA number 6337/Del/2012 (A.Y. 2008 – 09) JSL Limited, ACIT, Vs. (Now known as Jindal Stainless Ltd, OP Central Circle-9, Jindal Marg, Hissar New Delhi PAN: AABCJ1969M (Appellant) (Respondent) DCIT, JSL Limited, Vs. Central Circle-4(1), (Now known as Jindal Stainless New Delhi Ltd, OP Jindal Marg, Hissar PAN: AABCJ1969M (Appellant) (Respo…

Jindal Stainless Ltd., Hisar vs. DCIT, New Delhi

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

ITA 6337/DEL/2012[2008-09]Status: DisposedITAT Delhi19 Nov 2018AY 2008-09

Bench: Smt Diva Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Kumar Parnav, Sr. DR
Section 92CSection 92C(2)

…ITA No 4249 / Del/2012, 4110/Del/2013 & 6337/Del/2013 A Y 2007-08 and 2008-09 Jindal Steel Limited Vs ACIT Cen Circle 4(1) , New Delhi INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ―I-I‖ NEW DELHI BEFORE SMT DIVA SINGH, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA number 6337/Del/2012 (A.Y. 2008 – 09) JSL Limited, ACIT, Vs. (Now known as Jindal Stainless Ltd, OP Central Circle-9, Jindal Marg, Hissar New Delhi PAN: AABCJ1969M (Appellant) (Respondent) DCIT, JSL Limited, Vs. Central Circle-4(1), (Now known as Jindal Stainless New Delhi Ltd, OP Jindal Marg, Hissar PAN: AABCJ1969M (Appellant) (Respo…

ACIT, Circle - 4(1), Kolkata vs. M/S. M.K. Shah Exports Ltd., Kolkata

In the result, the appealof the Revenue (ITA No

ITA 1974/KOL/2017[2013-14]Status: DisposedITAT Kolkata16 Nov 2018AY 2013-14

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1903/Kol/2017 ("नधा"रणवष" / Assessment Year: 2013-14) M/S. M. K. Shah Exports Ltd. Vs. A.C.I.T, Circle-4(1), Kolkata P-7, Chowringhee Square, 8Th Floor, 2/2. Justice Dwarkanath Road, Kolkata – 700 020. Kolkata – 700 069. "थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aaccm 0884 H (Assessee) .. (Respondent) आयकरअपीलसं./Ita No.1974/Kol/2017 ("नधा"रणवष" / Assessment Year: 2013-14) M/S. M. K. Shah Exports Ltd. A.C.I.T, Circle-4(1), Kolkata Vs. P-7, Chowringhee Square, 8Th Floor, 2/2. Justice Dwarkanath Road, Kolkata – 700 069. Kolkata – 700 020. "थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aaccm 0884 H (Assessee) .. (Respondent) Assessee By :Shri S. Jhajharia, Ar Revenue By :Shrisaurabh Kumar, Addl. Cit (Sr. Dr) सुनवाईक"तार"ख/ Date Of Hearing : 23/08/2018 घोषणाक"तार"ख/Date Of Pronouncement : 16/10/2018

For Appellant: Shri S. Jhajharia, ARFor Respondent: ShriSaurabh Kumar, Addl. CIT (Sr. DR)
Section 143(3)Section 37Section 80GSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA No.1903/Kol/2017 ("नधा"रणवष" / Assessment Year: 2013-14) M/s. M. K. Shah Exports Ltd. Vs. A.C.I.T, Circle-4(1), Kolkata P-7, Chowringhee Square, 8th Floor, 2/2. Justice Dwarkanath Road, Kolkata – 700 020. Kolkata – 700 069. "थायीलेखासं./जीआइआरसं./PAN/GIR No. :AACCM 0884 H (Assessee) .. (Respondent) आयकरअपीलसं./ITA No.1974/Kol/2017 ("नधा"रणवष" / Assessment Year: 2013-14) M/s. M. K. Shah Exports Ltd. A.C.I.T, Circle-4(1), Kolkata Vs. P-7, Chowringhee Square, 8th Floor, 2/2. Justice Dwarkanath Roa…

M/S. M. K. Shah Exports Ltd, Kolkata vs. ACIT, Circle-4(1), Kolkata

In the result, the appealof the Revenue (ITA No

ITA 1903/KOL/2017[2013-14]Status: DisposedITAT Kolkata16 Nov 2018AY 2013-14

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1903/Kol/2017 ("नधा"रणवष" / Assessment Year: 2013-14) M/S. M. K. Shah Exports Ltd. Vs. A.C.I.T, Circle-4(1), Kolkata P-7, Chowringhee Square, 8Th Floor, 2/2. Justice Dwarkanath Road, Kolkata – 700 020. Kolkata – 700 069. "थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aaccm 0884 H (Assessee) .. (Respondent) आयकरअपीलसं./Ita No.1974/Kol/2017 ("नधा"रणवष" / Assessment Year: 2013-14) M/S. M. K. Shah Exports Ltd. A.C.I.T, Circle-4(1), Kolkata Vs. P-7, Chowringhee Square, 8Th Floor, 2/2. Justice Dwarkanath Road, Kolkata – 700 069. Kolkata – 700 020. "थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aaccm 0884 H (Assessee) .. (Respondent) Assessee By :Shri S. Jhajharia, Ar Revenue By :Shrisaurabh Kumar, Addl. Cit (Sr. Dr) सुनवाईक"तार"ख/ Date Of Hearing : 23/08/2018 घोषणाक"तार"ख/Date Of Pronouncement : 16/10/2018

For Appellant: Shri S. Jhajharia, ARFor Respondent: ShriSaurabh Kumar, Addl. CIT (Sr. DR)
Section 143(3)Section 37Section 80GSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA No.1903/Kol/2017 ("नधा"रणवष" / Assessment Year: 2013-14) M/s. M. K. Shah Exports Ltd. Vs. A.C.I.T, Circle-4(1), Kolkata P-7, Chowringhee Square, 8th Floor, 2/2. Justice Dwarkanath Road, Kolkata – 700 020. Kolkata – 700 069. "थायीलेखासं./जीआइआरसं./PAN/GIR No. :AACCM 0884 H (Assessee) .. (Respondent) आयकरअपीलसं./ITA No.1974/Kol/2017 ("नधा"रणवष" / Assessment Year: 2013-14) M/s. M. K. Shah Exports Ltd. A.C.I.T, Circle-4(1), Kolkata Vs. P-7, Chowringhee Square, 8th Floor, 2/2. Justice Dwarkanath Roa…

Asst. C.I.T., Bangalore vs. M/S Sasken Communications Technologies Limited, Bangalore

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

ITA 627/BANG/2016[2011-12]Status: DisposedITAT Bangalore16 Nov 2018AY 2011-12

Bench: Shri N.V.Vasudevan & Shri Inturi Rama Raoit(Tp)A 550/Bang/2016 (Assessment Year:2011-12) M/S.Sasken Technologies Ltd. 139/25, Amarjyothi Layout, Ring Road, Domlur, Bengaluru-560071. Pan:Aaecs 6424 R … Appellant Vs. Deputy Commissioner Of Income-Tax, Circle 6(1)(1), Bengaluru. … Respondent & It(Tp)A No.627/Bang/2016 (Assessment Year:2011-12) (By Revenue) ****** Assessee By : Shri Padamchand Khincha,Ca. Revenue By : Shri C.H.Sundar Rao, Cit(Dr) Date Of Hearing : 17/10/2018 Date Of Pronouncement : 16/11/2018 O R D E R Per Inturi Rama Rao, Am: These Are Cross Appeals Filed By The Assessee As Well As The Revenue Directed Against The Assessment Order Dated 29/01/2016 Passed U/S 143(3) R.W.S. 144C(13) Of The Income-Tax Act, 1961 [Hereinafter Referred To As 'The Act' For Short] For The Assessment Year 2011-12. 2. Briefly, The Facts Of The Case Are That The Assessee Is A Company Incorporated Under The Provisions Of The Companies Act, 1956. It Is Rendering Software Development Services. Return Of Income For The Assessment Year 2011-12 Was Filed On 28/11/2011 Declaring Income Of Rs.25,33,10,603/- & This Was Revised On It(Tp)A No.550 & 627/Bang/2016 Page 2 Of 21 20/03/2013 At Total Income Of Rs.23,72,94,572/-. Against The Said Return Of Income, The Assessing Officer (Ao) Took Up The Case For Scrutiny By Issuing Notice U/S 143(2) Of The Income-Tax Act,1961 [Hereinafter Referred To As ‘The Act’] Noticing The Following International Transactions In Form 3Ced Along With Transfer Pricing Study Report:

For Appellant: Shri Padamchand Khincha,CAFor Respondent: Shri C.H.Sundar Rao, CIT(DR)
Section 10ASection 133(6)Section 143Section 143(2)Section 143(3)Section 14ASection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BENGALURU BEFORE SHRI N.V.VASUDEVAN, VICE PRESIDENT and SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER IT(TP)A 550/Bang/2016 (Assessment year:2011-12) M/s.Sasken Technologies Ltd. 139/25, Amarjyothi Layout, Ring Road, Domlur, Bengaluru-560071. PAN:AAECS 6424 R … Appellant Vs. Deputy Commissioner of Income-tax, Circle 6(1)(1), Bengaluru. … Respondent AND IT(TP)A No.627/Bang/2016 (Assessment year:2011-12) (By Revenue) ****** Assessee by : Shri Padamchand Khincha,CA. Revenue by : Shri C.H.Sundar Rao, CIT(DR) Date of hearing : 17/10/2018 Date of pronouncement : 16/11/2018 O R…

DCIT, New Delhi vs. M/S Siegwerk India Pvt. Ltd., New Delhi

In the result appeal of the revenue is dismissed

ITA 6702/DEL/2015[2011-12]Status: DisposedITAT Delhi08 Oct 2018AY 2011-12

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Sanjay Kumar Yadav, Sr. DRFor Respondent: None
Section 144C(5)

…by benchmarking of international loan transaction undertaken with the AE by the assessee in foreign currency in terms of Rupee lending rate by SBI. After referring to the judgment of Hon’ble Delhi High Court in the case of CIT vs. Cotton Natural (I) Pvt. Ltd. 276 CTR 445, DRP held that, once the loan has been given in foreign currency, then arms length interest rate has to be considered at EURIBOR/LIBOR only and accepted the assessee’s benchmarking of the interest rate transaction. 4. After hearing both the parties and on perusal of the relevant finding given in the impugned orders, it cannot be disputed that as…

Moserbaer India Ltd., New Delhi vs. DCIT, New Delhi

Appeal is dismissed

ITA 1617/DEL/2015[2010-11]Status: DisposedITAT Delhi03 Oct 2018AY 2010-11

Bench: Shri N. K. Saini & Ms Suchitra Kamblemoserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Moserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Astt. Commissioner Of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-Iii New Delhi-110020 (Appellant) Aaam0322J (Respondent) Moserbaer India Ltd. Vs Dcit Tax, 43-A, Okhla Indl Area, Circle 17(1) Phase-Iii New Delhi New Delhi-110020 (Respondent) Aaam0322J (Appellant)

Section 10BSection 143Section 144CSection 14A

…DELHI BENCH: ‘I-1’ NEW DELHI BEFORE SHRI N. K. SAINI, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Astt. Commissioner of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-III New Delhi-110020 (APPELLANT) AAAM0322J (RE…

M/S. Moserbaer India Ltd., New Delhi vs. ACIT, New Delhi

Appeal is dismissed

ITA 2395/DEL/2014[2009-10]Status: DisposedITAT Delhi03 Oct 2018AY 2009-10

Bench: Shri N. K. Saini & Ms Suchitra Kamblemoserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Moserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Astt. Commissioner Of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-Iii New Delhi-110020 (Appellant) Aaam0322J (Respondent) Moserbaer India Ltd. Vs Dcit Tax, 43-A, Okhla Indl Area, Circle 17(1) Phase-Iii New Delhi New Delhi-110020 (Respondent) Aaam0322J (Appellant)

Section 10BSection 143Section 144CSection 14A

…DELHI BENCH: ‘I-1’ NEW DELHI BEFORE SHRI N. K. SAINI, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Astt. Commissioner of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-III New Delhi-110020 (APPELLANT) AAAM0322J (RE…

ACIT, New Delhi vs. M/S. Moser Baer India Limited, New Delhi

Appeal is dismissed

ITA 1200/DEL/2014[2009-10]Status: DisposedITAT Delhi03 Oct 2018AY 2009-10

Bench: Shri N. K. Saini & Ms Suchitra Kamblemoserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Moserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Astt. Commissioner Of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-Iii New Delhi-110020 (Appellant) Aaam0322J (Respondent) Moserbaer India Ltd. Vs Dcit Tax, 43-A, Okhla Indl Area, Circle 17(1) Phase-Iii New Delhi New Delhi-110020 (Respondent) Aaam0322J (Appellant)

Section 10BSection 143Section 144CSection 14A

…DELHI BENCH: ‘I-1’ NEW DELHI BEFORE SHRI N. K. SAINI, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Astt. Commissioner of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-III New Delhi-110020 (APPELLANT) AAAM0322J (RE…

Moserbaer India Ltd., New Delhi vs. ACIT, New Delhi

Appeal is dismissed

ITA 6042/DEL/2012[2008-09]Status: DisposedITAT Delhi03 Oct 2018AY 2008-09

Bench: Shri N. K. Saini & Ms Suchitra Kamblemoserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Moserbaer India Ltd. Vs Assistant Commissioner Of Tax, 43-A, Okhla Indl Area, Income Tax Phase-Iii Circle 5(1) New Delhi-110020 New Delhi Aaam0322J (Respondent) (Appellant) Astt. Commissioner Of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-Iii New Delhi-110020 (Appellant) Aaam0322J (Respondent) Moserbaer India Ltd. Vs Dcit Tax, 43-A, Okhla Indl Area, Circle 17(1) Phase-Iii New Delhi New Delhi-110020 (Respondent) Aaam0322J (Appellant)

Section 10BSection 143Section 144CSection 14A

…DELHI BENCH: ‘I-1’ NEW DELHI BEFORE SHRI N. K. SAINI, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Moserbaer India Ltd. Vs Assistant Commissioner of Tax, 43-A, Okhla Indl Area, Income Tax Phase-III Circle 5(1) New Delhi-110020 New Delhi AAAM0322J (RESPONDENT) (APPELLANT) Astt. Commissioner of Income Tax Vs Moserbaer India Ltd. Circle 5(1) Tax, 43-A, Okhla Indl Area, New Delhi Phase-III New Delhi-110020 (APPELLANT) AAAM0322J (RE…

Assistant Commissioner of Income Tax, Circle-1(1), Guntur vs. Ccl Product (India) Private Limited, Guntur

In the result, appeal of the revenue is dismissed

ITA 191/VIZ/2018[2009-10]Status: DisposedITAT Visakhapatnam28 Sept 2018AY 2009-10

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.191/Viz/2018 (धनधाारण िर्ा/Assessment Year:2013-14) Dy.Commissioner Of Vs. M/S Ccl Products (India) Income-Tax, Circle-1(1) Pvt. Ltd. Guntur Duggirala Post & Mandal Guntur [Pan :Aaacc9552G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलाथी की ओर से/ Appellant By : Shri K.C.Das, Dr प्रत्यथी की ओर से / Respondent By : Shri K.Ramesh Babu, Ar सुनिाई की तारीख / Date Of Hearing : 19.09.2018 28 .09.2018 घोषणा की तारीख/Date Of Pronouncement :

For Appellant: Shri K.C.Das, DRFor Respondent: Shri K.Ramesh Babu, AR

…आयकर अपीलीय अधधकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्रीिी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर ससह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.No.191/Viz/2018 (धनधाारण िर्ा/Assessment Year:2013-14) Dy.Commissioner of Vs. M/s CCL Products (India) Income-Tax, Circle-1(1) Pvt. Ltd. Guntur Duggirala Post & Mandal Guntur [PAN :AAACC9552G] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलाथी की ओर से/ Appellant by : Shri K.C.Das, DR प्रत्यथी की ओर से / Resp…

ACIT, Circle-4(1), Kolkata vs. M/S. M. K. Shah Exports Ltd, Kolkata

In the result, the appeals filed by the Revenue in ITA No

ITA 978/KOL/2017[2012-13]Status: DisposedITAT Kolkata17 Aug 2018AY 2012-13

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.977 & 978/Kol/2017 ("नधा"रणवष" / Assessment Years: 2011-12& 2012-13) A.C.I.T, Circle-4(1), Kolkata Vs. M/S. M. K. Shah Exports Ltd. P-7, Chowringhee Square, 8Th Floor, Kolkata – 700 069. 2/2. Justice Dwarkanath Road, Kolkata – 700 020. "थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aaccm 0884 H (Assessee) .. (Respondent) Assessee By :Shri S. Dasgupta, Addl. Cit(Dr) Respondent By :Shri Rohit Shukla, Fca सुनवाईक"तार"ख/ Date Of Hearing : 29/05/2018 घोषणाक"तार"ख/Date Of Pronouncement : 17/08/2018 आदेश / O R D E R

For Appellant: Shri S. Dasgupta, Addl. CIT(DR)For Respondent: Shri Rohit Shukla, FCA
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA Nos.977 & 978/Kol/2017 ("नधा"रणवष" / Assessment Years: 2011-12& 2012-13) A.C.I.T, Circle-4(1), Kolkata Vs. M/s. M. K. Shah Exports Ltd. P-7, Chowringhee Square, 8th Floor, Kolkata – 700 069. 2/2. Justice Dwarkanath Road, Kolkata – 700 020. "थायीलेखासं./जीआइआरसं./PAN/GIR No. :AACCM 0884 H (Assessee) .. (Respondent) Assessee by :Shri S. Dasgupta, Addl. CIT(DR) Respondent by :Shri Rohit Shukla, FCA सुनवाईक"तार"ख/ Date of Hearing : 29/05/2018 घोषणाक"तार"ख/Date of Pronouncement : 17/08/2018 आदेश / O…

ACIT, Circle-4(1), Kolkata vs. M/S. M. K. Shah Exports Ltd, Kolkata

In the result, the appeals filed by the Revenue in ITA No

ITA 977/KOL/2017[2011-12]Status: DisposedITAT Kolkata17 Aug 2018AY 2011-12

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.977 & 978/Kol/2017 ("नधा"रणवष" / Assessment Years: 2011-12& 2012-13) A.C.I.T, Circle-4(1), Kolkata Vs. M/S. M. K. Shah Exports Ltd. P-7, Chowringhee Square, 8Th Floor, Kolkata – 700 069. 2/2. Justice Dwarkanath Road, Kolkata – 700 020. "थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aaccm 0884 H (Assessee) .. (Respondent) Assessee By :Shri S. Dasgupta, Addl. Cit(Dr) Respondent By :Shri Rohit Shukla, Fca सुनवाईक"तार"ख/ Date Of Hearing : 29/05/2018 घोषणाक"तार"ख/Date Of Pronouncement : 17/08/2018 आदेश / O R D E R

For Appellant: Shri S. Dasgupta, Addl. CIT(DR)For Respondent: Shri Rohit Shukla, FCA
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA Nos.977 & 978/Kol/2017 ("नधा"रणवष" / Assessment Years: 2011-12& 2012-13) A.C.I.T, Circle-4(1), Kolkata Vs. M/s. M. K. Shah Exports Ltd. P-7, Chowringhee Square, 8th Floor, Kolkata – 700 069. 2/2. Justice Dwarkanath Road, Kolkata – 700 020. "थायीलेखासं./जीआइआरसं./PAN/GIR No. :AACCM 0884 H (Assessee) .. (Respondent) Assessee by :Shri S. Dasgupta, Addl. CIT(DR) Respondent by :Shri Rohit Shukla, FCA सुनवाईक"तार"ख/ Date of Hearing : 29/05/2018 घोषणाक"तार"ख/Date of Pronouncement : 17/08/2018 आदेश / O…

M. K. Shah Exports Ltd., Kolkata vs. DCIT, Cir-4, Kolkata

In the result, appeal filed by the Revenue in ITA No

ITA 507/KOL/2016[2010-2011]Status: DisposedITAT Kolkata17 Aug 2018AY 2010-2011

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.506 & 507/Kol/2017 ("नधा"रणवष" / Assessment Years: 2009-10& 2010-11) M/S. M. K. Shah Exports Ltd. Vs. D.C.I.T, Circle-4, Kolkata

For Appellant: Shri S. Jhajharia, ARFor Respondent: ShriSanjay Paul & Saurabh Kumar, Addl. CIT (Sr.DR)
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA Nos.506 & 507/Kol/2017 ("नधा"रणवष" / Assessment Years: 2009-10& 2010-11) M/s. M. K. Shah Exports Ltd. Vs. D.C.I.T, Circle-4, Kolkata P-7, Chowringhee Square, 8th Floor, 2/2. Justice Dwarkanath Road, Kolkata – 700 020. Kolkata – 700 069. "थायीलेखासं./जीआइआरसं./PAN/GIR No. :AACCM 0884 H (Assessee) .. (Respondent) & आयकरअपीलसं./ITA Nos.1274 & 1275/Kol/2016 ("नधा"रणवष" / Assessment Years: 2009-10 & 2010-11) J.C.I.T(OSD), Circle-4(1), Vs. M/s. M. K. Shah Exports Ltd. Kolkata P-7, Chowringhee Squar…

M. K. Shah Exports Ltd., Kolkata vs. DCIT, Cir-4, Kolkata

In the result, appeal filed by the Revenue in ITA No

ITA 506/KOL/2016[2009-2010]Status: DisposedITAT Kolkata17 Aug 2018AY 2009-2010

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.506 & 507/Kol/2017 ("नधा"रणवष" / Assessment Years: 2009-10& 2010-11) M/S. M. K. Shah Exports Ltd. Vs. D.C.I.T, Circle-4, Kolkata

For Appellant: Shri S. Jhajharia, ARFor Respondent: ShriSanjay Paul & Saurabh Kumar, Addl. CIT (Sr.DR)
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA Nos.506 & 507/Kol/2017 ("नधा"रणवष" / Assessment Years: 2009-10& 2010-11) M/s. M. K. Shah Exports Ltd. Vs. D.C.I.T, Circle-4, Kolkata P-7, Chowringhee Square, 8th Floor, 2/2. Justice Dwarkanath Road, Kolkata – 700 020. Kolkata – 700 069. "थायीलेखासं./जीआइआरसं./PAN/GIR No. :AACCM 0884 H (Assessee) .. (Respondent) & आयकरअपीलसं./ITA Nos.1274 & 1275/Kol/2016 ("नधा"रणवष" / Assessment Years: 2009-10 & 2010-11) J.C.I.T(OSD), Circle-4(1), Vs. M/s. M. K. Shah Exports Ltd. Kolkata P-7, Chowringhee Squar…

JCIT, (OSD), Cir-4(1), Kolkata vs. M/S M. K. Shah Exports Ltd., Kolkata

In the result, appeal filed by the Revenue in ITA No

ITA 1275/KOL/2016[2010-2011]Status: DisposedITAT Kolkata17 Aug 2018AY 2010-2011

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.506 & 507/Kol/2017 ("नधा"रणवष" / Assessment Years: 2009-10& 2010-11) M/S. M. K. Shah Exports Ltd. Vs. D.C.I.T, Circle-4, Kolkata

For Appellant: Shri S. Jhajharia, ARFor Respondent: ShriSanjay Paul & Saurabh Kumar, Addl. CIT (Sr.DR)
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA Nos.506 & 507/Kol/2017 ("नधा"रणवष" / Assessment Years: 2009-10& 2010-11) M/s. M. K. Shah Exports Ltd. Vs. D.C.I.T, Circle-4, Kolkata P-7, Chowringhee Square, 8th Floor, 2/2. Justice Dwarkanath Road, Kolkata – 700 020. Kolkata – 700 069. "थायीलेखासं./जीआइआरसं./PAN/GIR No. :AACCM 0884 H (Assessee) .. (Respondent) & आयकरअपीलसं./ITA Nos.1274 & 1275/Kol/2016 ("नधा"रणवष" / Assessment Years: 2009-10 & 2010-11) J.C.I.T(OSD), Circle-4(1), Vs. M/s. M. K. Shah Exports Ltd. Kolkata P-7, Chowringhee Squar…

JCIT, (OSD), Cir-4(1), Kolkata vs. M/S M. K. Shah Exports Ltd., Kolkata

In the result, appeal filed by the Revenue in ITA No

ITA 1274/KOL/2016[2009-2010]Status: DisposedITAT Kolkata17 Aug 2018AY 2009-2010

Bench: Shri S. S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.506 & 507/Kol/2017 ("नधा"रणवष" / Assessment Years: 2009-10& 2010-11) M/S. M. K. Shah Exports Ltd. Vs. D.C.I.T, Circle-4, Kolkata

For Appellant: Shri S. Jhajharia, ARFor Respondent: ShriSanjay Paul & Saurabh Kumar, Addl. CIT (Sr.DR)
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA Nos.506 & 507/Kol/2017 ("नधा"रणवष" / Assessment Years: 2009-10& 2010-11) M/s. M. K. Shah Exports Ltd. Vs. D.C.I.T, Circle-4, Kolkata P-7, Chowringhee Square, 8th Floor, 2/2. Justice Dwarkanath Road, Kolkata – 700 020. Kolkata – 700 069. "थायीलेखासं./जीआइआरसं./PAN/GIR No. :AACCM 0884 H (Assessee) .. (Respondent) & आयकरअपीलसं./ITA Nos.1274 & 1275/Kol/2016 ("नधा"रणवष" / Assessment Years: 2009-10 & 2010-11) J.C.I.T(OSD), Circle-4(1), Vs. M/s. M. K. Shah Exports Ltd. Kolkata P-7, Chowringhee Squar…

Technocraft Industries (I) Ltd, Mumbai vs. DCIT 8(3), Mumbai

In the result, appeal of the assessee is allowed in part

ITA 6686/MUM/2014[2009-10]Status: DisposedITAT Mumbai31 Jul 2018AY 2009-10

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm M/S. Technocraft Industries (I) Ltd., Vs. Deputy Commissioner Of A-25, Midc Marol Industrial Area Income Tax, 8(3) Road No.3, Andheri (E) Mumbai Mumbai – 400 093 Pan/Gir No.Aaact2724P Appellant) .. Respondent)

Section 143(3)Section 32(1)(ii)Section 35D

…IN THE INCOME TAX APPELLATE TRIBUNAL “K ”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI SANDEEP GOSAIN, JM M/s. Technocraft Industries (I) Ltd., Vs. Deputy Commissioner of A-25, MIDC Marol Industrial Area Income Tax, 8(3) Road No.3, Andheri (E) Mumbai Mumbai – 400 093 PAN/GIR No.AAACT2724P Appellant) .. Respondent) Assessee by Shri Vijay Mehta Revenue by Shri V. Janardhanan Date of Hearing 15/05/2018 Date of Pronouncement 31/07/2018 आदेश / O R D E R PER R.C.SHARMA (A.M): This is an appeal filed by assessee against the order of CIT(A)-15, Mumbai dated 20/08/2014 in the matter of order passed u/s.143(3) of…

Piramal Enterprises Limited, Mumbai vs. Additional Commissioner of Income Tax-7(1), Mumbai

In the result, Revenue’s appeal is dismissed

ITA 5471/MUM/2017[2008-09]Status: DisposedITAT Mumbai30 Jul 2018AY 2008-09

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwal

For Appellant: Shri Jahangir Mistry, Sr. Counsel a/wFor Respondent: Shri Jayant Kumar
Section 143(3)Section 144CSection 144C(3)Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER ITA no.5471/Mum./2017 (Assessment Year : 2008–09) M/s. Piramal Enterprises Ltd. Piramal Tower, Ganpatrao Kadam Marg ……………. Appellant Lower Parel (W), Mumbai 400 013 PAN – AAACT1567A v/s Addl. Commissioner of Income Tax ……………. Respondent Circle–7(1), Mumbai ITA no.5583/Mum./2017 (Assessment Year : 2008–09) Dy. Commissioner of Income Tax ……………. Appellant Circle–7(3)(2), Mumbai v/s M/s. Piramal Enterprises Ltd. (Previously known as M/s. Nicholas Piramal India Ltd. and…