CIT v. Dynavision Ltd.

267 ITR 600High Court2004#9840 most cited
11

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2019.

Judgments citing CIT v. Dynavision Ltd.

THE DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. M/S. AMOL DICALITE LTD.,, AHMEDABAD

Appeals are dismissed

ITA 1248/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad03 May 2019AY 2012-13

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri Vinod Tanwani, Sr. D .RFor Respondent: Shri S. N. Soparkar, A. R
Section 143(1)Section 143(2)Section 143(3)Section 195Section 40

…ly due and payable under the law applicable to such tax, duty, etc. in force. Otherwise even Section 145A will also not carry case of Revenue any further. CIT v. English Electric Co. of India Ltd. (2000) 243 ITR 512 (Mad) and CIT v. Dyanavision Limited (2004) 267 ITR 600 (Mad) was also considered. And finally concluded that under the scheme of the excise duty, the assessee incurs liability to pay excise duty only upon both the events taking place, namely manufacture of excisable goods and removal of excisable goods; excise duty is not therefore includible in the valuation of closing stock. We find that the issue…

THE DCIT, CIRCLE-1(1)(1),, AHMEDABAD vs. M/S. AMOL DICALITE LTD.,, AHMEDABAD

Appeals are dismissed

ITA 1247/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad03 May 2019AY 2011-12

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri Vinod Tanwani, Sr. D .RFor Respondent: Shri S. N. Soparkar, A. R
Section 143(1)Section 143(2)Section 143(3)Section 195Section 40

…ly due and payable under the law applicable to such tax, duty, etc. in force. Otherwise even Section 145A will also not carry case of Revenue any further. CIT v. English Electric Co. of India Ltd. (2000) 243 ITR 512 (Mad) and CIT v. Dyanavision Limited (2004) 267 ITR 600 (Mad) was also considered. And finally concluded that under the scheme of the excise duty, the assessee incurs liability to pay excise duty only upon both the events taking place, namely manufacture of excisable goods and removal of excisable goods; excise duty is not therefore includible in the valuation of closing stock. We find that the issue…

STERLING ABRASIVES LTD,,AHMEDABAD vs. THE DY.CIT.,CIRCLE-8,, AHMEDABAD

In the result, appeals filed by the department in ITA Nos

ITA 334/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad13 Nov 2017AY 2011-12

Bench: Shri N.K. Billaiya & Shri Mahavir Prasadआयकर अपील सं आयकर अपील सं./ Ita Nos. 704 & 705/Ahd/2014 आयकर अपील सं आयकर अपील सं िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/ Assessment Year : 2009-10 & 2010-11 वष" Dy. Commissioner Of Income Sterling Abrasives Ltd. Tax, Vs 45/46, Gidc, Circle-8, Odhav Road, Ahmedabad Ahmedabad – 382 415 आयकर अपील सं आयकर अपील सं./ Ita No. 334/Ahd/2015 आयकर अपील सं आयकर अपील सं िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/ Assessment Year : 2011-12 वष" Sterling Abrasives Ltd. Dy. Commissioner Of Income 45/46, Gidc, Vs Tax, Odhav Road, Circle-8, Ahmedabad – 382 415 Ahmedabad अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" य "" यथ" "" य "" य थ" थ"/ (Respondent) थ" Assessee By : Shri K. Madhusudan, Sr.D.R. Revenue By : Shri S. N. Soparkar, A.R. सुनवाई क" तारीख/Date Of Hearing : 27/10/2017 घोषणा क" तारीख /Date Of Pronouncement: 13/11/2017 आदेश/O R D E R आदेश आदेश आदेश Per Mahavir Prasad:- These Three Appeals, Two By The Revenue & One By The Assessee Are Directed Against The Separate Orders Of The Commissioner Of Income-Tax (Appeals)-Xiv, Ahmedabad Dated 04/12/2013 (Revenue) & Cit(A)-10, Ahmedabad Dated 19/12/2014 For Assessment Year 2009-10, 2010-11 & 2011-12 Respectively. 2. The Revenue Has Taken Following Grounds In Its Appeal Vide Ita No.704/Ahd/2014 For Asst. Year 2009-10:

For Appellant: Shri K. Madhusudan, Sr.D.RFor Respondent: Shri S. N. Soparkar, A.R
Section 143(1)Section 68

…count, it cannot be added to the value of closing stock. In support of our claim, we rely on following decisions: ACIT vs Narmada Chematur Petrochemicals Ltd. 327ITR 369 (Guj) CIT vs English Electric Co. of India Ltd. 243 ITR 512 (Mad) CIT vs Dynavision Ltd. 267 ITR 600 (Mad) CIT vs Parry Confectionery Ltd. 299 ITR 321 (Mad) Without prejudice to what is stated above, we would further like to state that if your goodself decides to add the value of such taxes to the value of closing stock, than similar adjustment should be done to the value of opening stock also.” The explanations of the assessee were considered…

THE DCIT, CIRCLE-8,, AHMEDABAD vs. STERLING ABRASIVES LTD,, AHMEDABAD

In the result, appeals filed by the department in ITA Nos

ITA 704/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad13 Nov 2017AY 2009-10

Bench: Shri N.K. Billaiya & Shri Mahavir Prasadआयकर अपील सं आयकर अपील सं./ Ita Nos. 704 & 705/Ahd/2014 आयकर अपील सं आयकर अपील सं िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/ Assessment Year : 2009-10 & 2010-11 वष" Dy. Commissioner Of Income Sterling Abrasives Ltd. Tax, Vs 45/46, Gidc, Circle-8, Odhav Road, Ahmedabad Ahmedabad – 382 415 आयकर अपील सं आयकर अपील सं./ Ita No. 334/Ahd/2015 आयकर अपील सं आयकर अपील सं िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष"/ Assessment Year : 2011-12 वष" Sterling Abrasives Ltd. Dy. Commissioner Of Income 45/46, Gidc, Vs Tax, Odhav Road, Circle-8, Ahmedabad – 382 415 Ahmedabad अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" य "" यथ" "" य "" य थ" थ"/ (Respondent) थ" Assessee By : Shri K. Madhusudan, Sr.D.R. Revenue By : Shri S. N. Soparkar, A.R. सुनवाई क" तारीख/Date Of Hearing : 27/10/2017 घोषणा क" तारीख /Date Of Pronouncement: 13/11/2017 आदेश/O R D E R आदेश आदेश आदेश Per Mahavir Prasad:- These Three Appeals, Two By The Revenue & One By The Assessee Are Directed Against The Separate Orders Of The Commissioner Of Income-Tax (Appeals)-Xiv, Ahmedabad Dated 04/12/2013 (Revenue) & Cit(A)-10, Ahmedabad Dated 19/12/2014 For Assessment Year 2009-10, 2010-11 & 2011-12 Respectively. 2. The Revenue Has Taken Following Grounds In Its Appeal Vide Ita No.704/Ahd/2014 For Asst. Year 2009-10:

For Appellant: Shri K. Madhusudan, Sr.D.RFor Respondent: Shri S. N. Soparkar, A.R
Section 143(1)Section 68

…count, it cannot be added to the value of closing stock. In support of our claim, we rely on following decisions: ACIT vs Narmada Chematur Petrochemicals Ltd. 327ITR 369 (Guj) CIT vs English Electric Co. of India Ltd. 243 ITR 512 (Mad) CIT vs Dynavision Ltd. 267 ITR 600 (Mad) CIT vs Parry Confectionery Ltd. 299 ITR 321 (Mad) Without prejudice to what is stated above, we would further like to state that if your goodself decides to add the value of such taxes to the value of closing stock, than similar adjustment should be done to the value of opening stock also.” The explanations of the assessee were considered…

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. STADMED PRIVATE LTD., KOLKATA

In the result, Revenue’s appeal stands dismissed

ITA 200/KOL/2010[2005-06]Status: DisposedITAT Kolkata18 Jan 2017AY 2005-06

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 143(2)Section 143(3)

…val of finished goods from factory premises. The decisions of ITA No.136 & 200/Kol/2010 A.Y. 2005-06 Stadmed Pvt. Ltd. Vs. DCIT, Cir-10, Kol. Page 14 Madras High Court in the case of CIT vs. English Electric Co. Ltd. (243 ITR 512) and CIT vs. Dyna Vision Ltd (267 ITR 600) support the appellant’s view wherein it was held that excise duty payable on closing stock did not form part of the valuation of closing stock. Following the above decisions, the Madras High Court in the case of CIT vs. Ashok Leyland Ltd. [2007] 294 ITR 380 held that “while calculating valuation of closing stock customs and excise duty component…

STADMED PRIVATE LIMITED,KOLKATA vs. DCIT, CIRCLE - 10, KOLKATA, KOLKATA

In the result, Revenue’s appeal stands dismissed

ITA 136/KOL/2010[2005-06]Status: DisposedITAT Kolkata18 Jan 2017AY 2005-06

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 143(2)Section 143(3)

…val of finished goods from factory premises. The decisions of ITA No.136 & 200/Kol/2010 A.Y. 2005-06 Stadmed Pvt. Ltd. Vs. DCIT, Cir-10, Kol. Page 14 Madras High Court in the case of CIT vs. English Electric Co. Ltd. (243 ITR 512) and CIT vs. Dyna Vision Ltd (267 ITR 600) support the appellant’s view wherein it was held that excise duty payable on closing stock did not form part of the valuation of closing stock. Following the above decisions, the Madras High Court in the case of CIT vs. Ashok Leyland Ltd. [2007] 294 ITR 380 held that “while calculating valuation of closing stock customs and excise duty component…

D.C.I.T CIR - 12,KOLKATA, KOLKATA vs. M/S JCT LIMITED., KOLKATA

In the result the appeal by the revenue is dismissed

ITA 1106/KOL/2013[2004-05]Status: DisposedITAT Kolkata19 Oct 2016AY 2004-05

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am] I.T.A Nos. 1106 To 1109/Kol/2013 Assessment Years : 2004-05, 2006-07,2007-08 & 2008-09 D.C.I.T., Circle-12, -Vs.- M/S. J.C.T. Ltd. Kolkata Kolkata [Pan : Aaacj 6733 E] (Appellant) (Respondent) For The Appellant : Shri Angam Shaiza, Cit For The Respondent : Shri A.K.Gupta, Fca

For Appellant: Shri Angam Shaiza, CITFor Respondent: Shri A.K.Gupta, FCA
Section 145Section 145ASection 43B

…of manufacture is complete in relation to that excisable item and in coming to the above conclusion referred to the decisions of the Hon’ble Madras High Court in the case of CIT vs English Electric Co. of India ltd. 243 ITR 612 (Mad). CIT vs. Dynavision Ltd. 267 ITR 600 (Mad). The AO was therefore of the view that as per provisions of Section 145A, the excise duty element has to be added to closing stock as the liability to pay excise duty arises the moment an excisable good is produced or manufactured. The assessee’s method not to include the same in the closing stock is, therefore, not correct. Regarding the s…

M/S. ICI INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE - 10, KOLKATA, KOLKATA

In the result, Revenue’s appeal is partly allowed

ITA 852/KOL/2007[2003-04]Status: DisposedITAT Kolkata10 Jun 2016AY 2003-04

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 143(3)

…due hardship to the assessee. I find ITA No.2613/Kol/05,488/Kol/06, 1019 & 852/Kol/07 AYs 02-03 & 03-04 ACIT Cir-10 Kol. v. AKZO Novel India Ltd. Page 19 reinforcement from the decision of Madras High Court in the case of CIT vs. Dynavision Ltd., reported in 267 ITR 600. The AO is accordingly directed to allow deduction on actual payment basis made on or before due date for filing of the return of income after verification of payment details. This ground is accordingly decided in favour of the appellant company.” Being aggrieved by this order of ld. CIT(A), the Revenue is appeal before us. 34. Both the parties…

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. ICI INDIA LTD., KOLKATA

In the result, Revenue’s appeal is partly allowed

ITA 1019/KOL/2007[2003-04]Status: DisposedITAT Kolkata10 Jun 2016AY 2003-04

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 143(3)

…due hardship to the assessee. I find ITA No.2613/Kol/05,488/Kol/06, 1019 & 852/Kol/07 AYs 02-03 & 03-04 ACIT Cir-10 Kol. v. AKZO Novel India Ltd. Page 19 reinforcement from the decision of Madras High Court in the case of CIT vs. Dynavision Ltd., reported in 267 ITR 600. The AO is accordingly directed to allow deduction on actual payment basis made on or before due date for filing of the return of income after verification of payment details. This ground is accordingly decided in favour of the appellant company.” Being aggrieved by this order of ld. CIT(A), the Revenue is appeal before us. 34. Both the parties…

M/S. ICI INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE - 10, KOLKATA, KOLKATA

In the result, Revenue’s appeal is partly allowed

ITA 488/KOL/2006[2002-03]Status: DisposedITAT Kolkata10 Jun 2016AY 2002-03

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 143(3)

…due hardship to the assessee. I find ITA No.2613/Kol/05,488/Kol/06, 1019 & 852/Kol/07 AYs 02-03 & 03-04 ACIT Cir-10 Kol. v. AKZO Novel India Ltd. Page 19 reinforcement from the decision of Madras High Court in the case of CIT vs. Dynavision Ltd., reported in 267 ITR 600. The AO is accordingly directed to allow deduction on actual payment basis made on or before due date for filing of the return of income after verification of payment details. This ground is accordingly decided in favour of the appellant company.” Being aggrieved by this order of ld. CIT(A), the Revenue is appeal before us. 34. Both the parties…

ACIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. ICI INDIA LTD., KOLKATA

In the result, Revenue’s appeal is partly allowed

ITA 2613/KOL/2005[2002-03]Status: DisposedITAT Kolkata10 Jun 2016AY 2002-03

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 143(3)

…due hardship to the assessee. I find ITA No.2613/Kol/05,488/Kol/06, 1019 & 852/Kol/07 AYs 02-03 & 03-04 ACIT Cir-10 Kol. v. AKZO Novel India Ltd. Page 19 reinforcement from the decision of Madras High Court in the case of CIT vs. Dynavision Ltd., reported in 267 ITR 600. The AO is accordingly directed to allow deduction on actual payment basis made on or before due date for filing of the return of income after verification of payment details. This ground is accordingly decided in favour of the appellant company.” Being aggrieved by this order of ld. CIT(A), the Revenue is appeal before us. 34. Both the parties…