CIT v. Eltel SGDS P. Ltd.

300 ITR 6High Court2008#2540 most cited

What is CIT v. Eltel SGDS P. Ltd. authority for?

Duty drawback qualifies as profits and gains derived from an industrial undertaking/business and is eligible for deduction under Section 80-IB of the Income Tax Act. The court distinguished the language of Section 80-IB from Section 80HH, noting that 80-IB uses the broader term 'profits and gains derived from any business'.

46

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2008 to 2025.

Also referred to as

CIT v. Eltel SGDS P. Ltd. · 300 ITR 6 · Section 80IB · Section 80IC · Section 80HH · duty drawback · eligible profits · industrial undertaking · derived from business · reimbursement · income tax deduction · distinction in language

Sections most often in play

Section 80IBSection 14ASection 143(3)Section 32Section 40A(2)(b)Section 43BSection 80IASection 80IC

Issues it is cited on

section 40a(2)(a)section 80hactual payment basisopening wdvset off of lossessection 80hheligible businesssection 80ibsection 145asection 80ideduction under section 80iasection 80ic

Judgments citing CIT v. Eltel SGDS P. Ltd.

DEPUTY COMMISSIONER OF INCOME TAX, CC-2(3), KOLKATA, AAYAKAR BHAWAN POORVA vs. KAMLANG SAW & VENEER MILLS PVT. LTD., ASSAM

In the result, the appeal filed by the revenue is dismissed

ITA 225/KOL/2025[2018-19]Status: DisposedITAT Kolkata17 Jul 2025AY 2018-19

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 142(1)Section 143(1)Section 143(2)Section 80Section 80I

…be kept in view while interpreting the provisions of section 80-IA. 6. We find that for a similar provision of section 80-IB, two decisions have been rendered by two Division Benches of this court in the judgments reported as CIT v. Eltek SGS (P) Ltd. [2008] 300 ITR 6 (Delhi), and CIT v. Dharam Pal Prem Chand Ltd. [2009] 317 ITR 353 (Delhi); [2009] 221 CTR (Del) 133. In the Eltek SGS (P) Ltd. case [2008] 300 ITR 6 (Delhi) duty drawback was held to be profits/gains derived from an industrial undertaking and hence eligible for deductions under section 80-IB. In the case of CIT v. Dharam Pal Prem Chand Ltd. [2009]…

NARAYAN INDUSTRIES,DELHI vs. DCIT, CENTRAL CIRCLE 8, , NEW DELHI

In the result, the ground concerning challenge to disallowance of deduction claimed under Section 80-IC is allowed for statistical purposes

ITA 2227/DEL/2023[2013-14]Status: DisposedITAT Delhi10 Jul 2024AY 2013-14

Bench: Shri Pradip Kumar Kedia & Shri Yogesh Kumarassessment Year 2013-14

For Respondent: Shri Subhra Jyoti Chakraborty, CIT-DR
Section 143(3)Section 254Section 80Section 80I

…lower than the expenditure incurred towards custom and excise duties, cannot be excluded for the purposes of determination of eligible profits under Section 80-IC in question. 7. The Hon’ble Delhi High Court in the case of CIT vs. Eltek SGS (P.) Ltd., (2008) 300 ITR 6 (Del) inter alia observed that duty drawback is in the nature of reimbursement. It thus follows that duty drawback would qualify for deduction under Section 80-IC of the Act in case such duty drawback is either equal to or lower than the corresponding costs towards customs and excise duty incurred and debited to P&L account. The Co- ordinate Bench…

M/S. HOUSING DEVELOP,MENT FINANCE CORPN. LTD,MUMBAI vs. THE ADDL CIT RG-1(1), MUMBAI

ITA 287/MUM/2005[2001-2002]Status: DisposedITAT Mumbai05 Jul 2024AY 2001-2002

Bench: Shri Girish Agrawal & Shri Sunil Kumar Singh

Section 143(3)Section 36(1)Section 36(1)(viii)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH MUMBAI BEFORE SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER AND SHRI SUNIL KUMAR SINGH, JUDICIAL MEMBER ITA No.7447/MUM/2004 Assessment Year: 1999-2000 & ITA Nos.286 & 287/MUM/2005 Assessment Years: 2000-01 & 2001-02 HDFC Bank Ltd. (successor to Housing Development Finance Corporation Ltd.) HDFC Bank House, Senapati Bapat Marg, Delisle Road, S.O Mumbai – 400013 (PAN : AAACH2702H) (Appellant) Vs. Deputy Commissioner of Income Tax, Cir. 1(1), Mumbai (Respondent) ITA No.7532/MUM/2004 Assessment Year: 1999-2000 & ITA Nos. 337 & 724/MUM/2005 Assessment Years: 2000-01 & 2001-…

ADDL CIT 8(1), MUMBAI vs. M/S. SANOFI INDIA LIMITED (FORMERLY KNOWN AS M/S. AVENTIS PHARMA LTD), MUMBAI

In the result, the C.O. of the assessee for AY 2007-08 is partly allowed

ITA 6698/MUM/2011[2007-08]Status: DisposedITAT Mumbai23 Feb 2024AY 2007-08

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

For Respondent: Shri Ajay Chandra (CIT-DR) &
Section 32Section 32(1)

…h Court in the case of CIT v. Pandian Chemicals Ltd. [1998] 233 ITR 497. 4. However, Mr. Murlidhar, learned counsel appearing on behalf of the respondent, strongly relied on the judgment of the Delhi High Court in the case of CIT v. Eltek SGS (P.) Ltd. [2008] 300 ITR 6 wherein the Delhi High Court has in fact considered the very same issue, and also the judgment relied upon by the Revenue and has 6698 M 2011 & C.O. No. 165 M 2012-Sanofi India Limited clearly distinguished the language employed under sections 80-IB and 80HH and has observed as under (pages 9, 10) : "That apart, section 80-IB of the Act does not u…

ADDL CIT RG 8(1), MUMBAI vs. M/S. SANOFI INDIA LIMITED (FORMERLY KNOWN AS M/S. AVENTIS PHARMA LTD), MUMBAI

In the result, the C.O. of the assessee for AY 2007-08 is partly allowed

ITA 7712/MUM/2010[2006-07]Status: DisposedITAT Mumbai23 Feb 2024AY 2006-07

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

For Respondent: Shri Ajay Chandra (CIT-DR) &
Section 32Section 32(1)

…h Court in the case of CIT v. Pandian Chemicals Ltd. [1998] 233 ITR 497. 4. However, Mr. Murlidhar, learned counsel appearing on behalf of the respondent, strongly relied on the judgment of the Delhi High Court in the case of CIT v. Eltek SGS (P.) Ltd. [2008] 300 ITR 6 wherein the Delhi High Court has in fact considered the very same issue, and also the judgment relied upon by the Revenue and has 6698 M 2011 & C.O. No. 165 M 2012-Sanofi India Limited clearly distinguished the language employed under sections 80-IB and 80HH and has observed as under (pages 9, 10) : "That apart, section 80-IB of the Act does not u…

SANOFI INDIA LTD FORMERLY KNOWN AS AVENTIS PHARMA LTD ,MUMBAI vs. ADDL CIT RG 8(1), MUMBAI

In the result, the C.O. of the assessee for AY 2007-08 is partly allowed

ITA 6626/MUM/2009[2005-06]Status: DisposedITAT Mumbai23 Feb 2024AY 2005-06

Bench: Shri Vikas Awasthy, Jm & Ms Padmavathy S, Am

For Respondent: Shri Ajay Chandra (CIT-DR) &
Section 32Section 32(1)

…h Court in the case of CIT v. Pandian Chemicals Ltd. [1998] 233 ITR 497. 4. However, Mr. Murlidhar, learned counsel appearing on behalf of the respondent, strongly relied on the judgment of the Delhi High Court in the case of CIT v. Eltek SGS (P.) Ltd. [2008] 300 ITR 6 wherein the Delhi High Court has in fact considered the very same issue, and also the judgment relied upon by the Revenue and has 6698 M 2011 & C.O. No. 165 M 2012-Sanofi India Limited clearly distinguished the language employed under sections 80-IB and 80HH and has observed as under (pages 9, 10) : "That apart, section 80-IB of the Act does not u…

M/S. UNITED PHOSPHORUS LTD.,MUMBAI vs. DCIT CENT. CIR. - 38, MUMBAI

In the result, appeal of the revenue is partly allowed

ITA 4695/MUM/2005[1999-2000]Status: DisposedITAT Mumbai20 Sept 2023AY 1999-2000

Bench: Shri Amit Shukla & Shri Gagan Goyalm/S. United Phosphorus Limited, Mumbai (Now Known As Uniphos Enterprises Ltd.) Uniphos House, 11-C.D. Marg Opp. Madhu Park Khar (W), Mumbai – 400 052 Pan: Aaacu3440P ...... Appellant Vs. Acit Cc -2 Dy. Commissioner Of Income Tax Central Circle-38 Mumbai ..... Respondent Acit Cc -2 Dy. Commissioner Of Income Tax Central Circle-38 Mumbai ...... Appellant Vs. M/S. United Phosphorus Limited, Mumbai (Now Known As Uniphos Enterprises Ltd.) Uniphos House, 11-C.D. Marg Opp. Madhu Park Khar (W) Mumbai – 400 052 Pan: Aaacu3440P ...... Respondent (Now Known As Uniphos Enterprises Ltd.)

For Appellant: Ms. Vasanti B Patel / Shri KiritFor Respondent: Shri Rajneesh Yadav
Section 143(3)Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “K”, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER M/s. United Phosphorus Limited, Mumbai (Now known as Uniphos Enterprises Ltd.) Uniphos House, 11-C.D. Marg Opp. Madhu Park Khar (W), Mumbai – 400 052 PAN: AAACU3440P ...... Appellant Vs. ACIT CC -2 Dy. Commissioner of Income Tax Central Circle-38 Mumbai ..... Respondent ACIT CC -2 Dy. Commissioner of Income Tax Central Circle-38 Mumbai ...... Appellant Vs. M/s. United Phosphorus Limited, Mumbai (Now known as Uniphos Enterprises Ltd.) Uniphos House, 11-C.D. Marg Opp. Mad…

RAMAKRISHNA INDUSTRIES ,HYDERABAD vs. DCIT, CIRCLE-15(1), HYDERABAD

In the result, appeal of the assessee is treated as partly allowed for statistical purposes

ITA 179/HYD/2023[2017-18]Status: DisposedITAT Hyderabad08 May 2023AY 2017-18

Bench: Shri K. Narasimha Chary

For Appellant: Shri Y.V. Bhanu Narayan Rao, ARFor Respondent: Shri A.G.V. Prasad, DR
Section 37Section 40Section 80Section 80H

…therefore, dismissed the ground relating to this issue. 7. Learned AR placed reliance on the decision in the case of M/s. Tema Exchangers Manufactures Pvt. Ltd. vs. ACIT, Income Tax Appeal No. 415 of 2004, dated 18/07/2018, CIT vs. Eltek Sgs (P) Ltd. [2008] 300 ITR 6 (Delhi) in support of the contentions that the interest on FDRs in bank would be profits and gains derived from any business of an industrial undertaking. Per contra, learned DR placed reliance on the decision of the Hon'ble Apex Court in the case of Tuticorin Alkali Chemicals & Fertilizers Ltd. vs. CIT [1997] 227 ITR 172 (SC) in support of the fin…

SIGMA ELECTRIC MANUFACTURING CORPORATION PVT.LTD,(FORMERLY KNOWN AS SIGMA ELECTRIC MANUFACTURING PVT.LTD),,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 10, , PUNE

The appeals of the assessee are allowed for statistical purposes

ITA 1740/PUN/2018[2006-07]Status: DisposedITAT Pune10 Aug 2022AY 2006-07
For Appellant: Shri Sharad ShahFor Respondent: Shri Arvind Desai
Section 10ASection 10B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, PUNE SHRI PARTHA SARATHI CHAUDHURY, JM AND DR. DIPAK P. RIPOTE, AM ITA No. 1740 and 1741/PUN/2018 Assessment Year : 2006-07 & 2007-08 Sigma Electric Manufacturing Corpn., Gat No. 154/1 Mahalunge, Chakan, Talegaon Road, Chakan, Pune 410 501 PAN: AAXCS 4322 F :Appellant Vs. The Asstt. C.I.T. Cir. 0, Pune. : Respondent Appellant by : Shri Sharad Shah Respondent by : Shri Arvind Desai Date of Hearing : 28-07-2022 Date of Pronouncement : 10-08-2022 ORDER PER PARTHA SARATHI CHAUDHURY, JM : These appeals preferred by the assessee emanates from separate orders of the ld.…

SIGMA ELECTRIC MANUFACTURING CORPORATION PVT.LTD,(FORMERLY KNOWN AS SIGMA ELECTRIC MANUFACTURING PVT.LTD),,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 10, , PUNE

The appeals of the assessee are allowed for statistical purposes

ITA 1741/PUN/2018[2007-08]Status: DisposedITAT Pune10 Aug 2022AY 2007-08
For Appellant: Shri Sharad ShahFor Respondent: Shri Arvind Desai
Section 10ASection 10B

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, PUNE SHRI PARTHA SARATHI CHAUDHURY, JM AND DR. DIPAK P. RIPOTE, AM ITA No. 1740 and 1741/PUN/2018 Assessment Year : 2006-07 & 2007-08 Sigma Electric Manufacturing Corpn., Gat No. 154/1 Mahalunge, Chakan, Talegaon Road, Chakan, Pune 410 501 PAN: AAXCS 4322 F :Appellant Vs. The Asstt. C.I.T. Cir. 0, Pune. : Respondent Appellant by : Shri Sharad Shah Respondent by : Shri Arvind Desai Date of Hearing : 28-07-2022 Date of Pronouncement : 10-08-2022 ORDER PER PARTHA SARATHI CHAUDHURY, JM : These appeals preferred by the assessee emanates from separate orders of the ld.…

CLOVER SOLAR PVT LTD.,MUMBAI vs. ITO-RANGE(3)(1)(3), MUMBAI

In the result, assesssee’s appeal stands allowed

ITA 4175/MUM/2019[2015-16]Status: DisposedITAT Mumbai27 Jan 2022AY 2015-16

Bench: Shri Shamim Yahya

Section 80Section 80HSection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” Bench, Mumbai Before Shri Shamim Yahya, Accountant Member I.T.A. No. 4175/Mum/2019 (Assessment Year 2015-16) Vs. ITO,Range-3(1)(3) Clover Solar Private Limited 85, A-Wing, Mittal tower Aaykar Bhawan, M.K.Road Nariman Point Mumbai-400 020 Mumbai-400 021 PAN : AADCC2739E (Appellant) (Respondent) Shri Ketan Ved Assessee by Department by Shri Anil Gupta Date of Hearing 18.11.2021 Date of Pronouncement 27 .01.2022 O R D E R Per Shri Shamim Yahya (AM) :- This appeal by the assessee is directed against the order of learned Commissioner of Income Tax (Appeals)-8 dated…

GRASIM INDUSTRIES LTD. vs. ADDL. CIT RANGE 6(3),

In the result, appeal filed by the assesse and revenue are partly allowed

ITA 4753/MUM/2004[2002-03]Status: DisposedITAT Mumbai14 Dec 2021AY 2002-03

Bench: Shri Saktijit Dey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blegrasim Industries Limited V. Addl. Cit, Range 6(3) Corporate Finance Division 5Th Floor, Room No. 505 Aditya Birla Centre “A” Wing Aayakar Bhavan 2Nd Floor, S.K. Ahire Marg, Worli Mumbai Mumbai-400025 Pan: Aaacg4464B Appellant Respondent Dy. Cit, Range 6(3), V. Grasim Industries Limited, 5Th Floor, Room No. 505, Corporate Finance Division, Aayakar Bhavan, Aditya Birla Centre, “A” Wing, Mumbai-20. 2Nd Floor, S.K. Ahire Marg Worli, Mumbai-400025 Pan: Aaacg4464B Appellant Respondent Assessee By : Shri J.D. Mistry Revenue By : Shri Sandeep Raj & Shri Vijay Kumar Menon

For Appellant: Shri J.D. MistryFor Respondent: Shri Sandeep Raj &
Section 143(3)Section 36(1)(vii)Section 43BSection 80Section 80H

…of deduction u/s. 80- IA on gain arising on sale of machinery, Ld. AR of the assessee brought to our notice that the issue in appeal has been considered by the following judicial pronouncements and decided in favour of the assessee CIT v. Eltek Sgs (P) Ltd., [300 ITR 6 (Del. HC) CIT v. Jagdishprasad M. Joshi [318 ITR 420 (Bom. HC)], CIT v. M/S Meghalaya Steels Ltd [317 ITR 259 (Gauhati)] and Shivansh buildcon Pvt. Ltd., v. ACIT [318 ITR (AT) 346 (Jaipur)] and requested the same be adopted in the case of assessee also. 21 ITA No. 4753 & 5584/MUM/2004 (A.Y. 2002-03) Grasim Industries Limited, 31. Ld. DR vehemently…

LOVELY FRAGRANCE,MUMBAI vs. PR. CIT - 24 , MUMBAI

In the result, appeal by the assessee stands allowed

ITA 3096/MUM/2019[2014-15]Status: DisposedITAT Mumbai20 Oct 2021AY 2014-15
Section 115JSection 143(3)Section 263Section 80Section 80I

…THE INCOME TAX APPELLATE TRIBUNAL “A” Bench, Mumbai Shri Shamim Yahya (AM) & Shri Amarjit Singh (JM) I.T.A. No. 3096/Mum/2019 (Assessment Year : 2014-15) M/s. Lovely Fragrance PCIT-24 Vs. A-701, Baker Fields Room No. 416 Shashtri Nagar Piramal Chambers Andheri West Lalbaug, Parel Mumbai-400 058 Mumbai-400 012. PAN : AAAFL1837E (Appellant) (Respondent) Assessee by Shri Mahavir Jain Department by Shri Rajeev Harit Date of Hearing 05.08.2021 Date of Pronouncement 20.10.2021 O R D E R Per Shamim Yahya (AM) :- This appeal by the assessee is directed against revision order under section 263 of the I.T. Act of l…

DCIT, NEW DELHI vs. M/S MALANA POWER CO. LTD.,, NEW DELHI

In the result, appeal filed by the learned assessing officer in ITA number 3713/del/2017 for assessment year 2012 – 13 is dismissed

ITA 3713/DEL/2017[2012-13]Status: DisposedITAT Delhi23 Mar 2021AY 2012-13

Bench: Shri Amit Shuklaa N D Shri Prashant Maharishi(Through Video Conferencing) Dcit, Vs. Malana Power Co. Ltd, Bhilwara Bhawan, Circle-16(1)M 40-41, Community Centre, New Friends Colony, New Delhi New Delhi Pan: Aabcm1108R (Appellant) (Respondent) Malana Power Co. Ltd, Vs. Addl. Dcit, Bhilwara Bhawan, 40-41, Community Centre, New Range-6, Friends Colony, New Delhi New Delhi Pan: Aabcm1108R (Appellant) (Respondent)

For Appellant: Shri P. K. Jain, CAFor Respondent: Shri Sohil Malik, Sr. DR
Section 115JSection 14Section 14ASection 2(14)Section 80I

…le Rajasthan High Court in the case of CIT Vs. Chambal Fertilizers & Chemicals Ltd. 95 taxman.com 313 against which the Special Leave Petition has been dismissed by the Hon’ble Supreme Court. He also referred to the decision of the Hon’ble Delhi High Court in 300 ITR 6 and ITA 1441/2006. He further submitted that such interest income cannot be assessed under the head ‘Income from Other Sources’. 13. The ld. DR vehemently relied upon the order of the ld. Assessing Officer as well as the decision of the Hon’ble Supreme Court in Liberty India (supra). 14. We have carefully considered the rival contentions and peruse…

MALANA POWER CO. LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, appeal filed by the learned assessing officer in ITA number 3713/del/2017 for assessment year 2012 – 13 is dismissed

ITA 2464/DEL/2017[2012-13]Status: DisposedITAT Delhi23 Mar 2021AY 2012-13

Bench: Shri Amit Shuklaa N D Shri Prashant Maharishi(Through Video Conferencing) Dcit, Vs. Malana Power Co. Ltd, Bhilwara Bhawan, Circle-16(1)M 40-41, Community Centre, New Friends Colony, New Delhi New Delhi Pan: Aabcm1108R (Appellant) (Respondent) Malana Power Co. Ltd, Vs. Addl. Dcit, Bhilwara Bhawan, 40-41, Community Centre, New Range-6, Friends Colony, New Delhi New Delhi Pan: Aabcm1108R (Appellant) (Respondent)

For Appellant: Shri P. K. Jain, CAFor Respondent: Shri Sohil Malik, Sr. DR
Section 115JSection 14Section 14ASection 2(14)Section 80I

…le Rajasthan High Court in the case of CIT Vs. Chambal Fertilizers & Chemicals Ltd. 95 taxman.com 313 against which the Special Leave Petition has been dismissed by the Hon’ble Supreme Court. He also referred to the decision of the Hon’ble Delhi High Court in 300 ITR 6 and ITA 1441/2006. He further submitted that such interest income cannot be assessed under the head ‘Income from Other Sources’. 13. The ld. DR vehemently relied upon the order of the ld. Assessing Officer as well as the decision of the Hon’ble Supreme Court in Liberty India (supra). 14. We have carefully considered the rival contentions and peruse…

V. K. INDUSTRIES,MUMBAI vs. DCIT - 30(3), MUMBAI

In the result, appeal by assessee is partly allowed

ITA 6929/MUM/2017[2012-13]Status: DisposedITAT Mumbai23 Feb 2021AY 2012-13

Bench: Vikas Awasthy & Shri S.Rifaur Rahmanआअसं. 6929/मुं/2017 ("न.व. 2012-13)

For Appellant: Shri Nitin FuriaFor Respondent: Shri Vijayn Kumar G Subramaniyan
Section 28Section 80Section 80I

…kept in view while interpreting the provisions of section 80-IA. [ 6. We find that for a similar provision of section 80-IB, two decisions have been rendered by two Division Benches of this Court in the judgments reported as CIT v. Eltek SGS (P.) Ltd.[2008] 300 ITR 6 and CIT v. Dharam Pal Prem Chand Ltd. [2009] 221 CTR (Delhi)133 . In the Eltek SGS (P.) Ltd.'s case (supra] duty drawback was held to be profits/gains derived from an industrial undertaking and hence eligible for deductions under section 80-IB. In the case of Dharam Pal Prem Chand Ltd. (supra] refund of excise duty was held to be profits and gains…

DCIT (LTU), NEW DELHI vs. M/S. GAIL (INDIA) LTD., NEW DELHI

Appeal is dismissed

ITA 4642/DEL/2013[1996-97]Status: DisposedITAT Delhi26 Oct 2020AY 1996-97

Bench: Sh. R. K. Panda & Ms Suchitra Kamble

Section 80HSection 80I

…the Ld. AR submitted that the interest on loan provided to employees is inextricably linked to the business of the assessee and constitutes business income eligible for deduction. The Ld. AR relied upon the following decisions: i. CIT vs. Eltek SGS (P) Ltd. 300 ITR 6 (Del) ii. Joyco India (P) Limited vs. ITO 122 TTJ 940 (Del.) iii. Maruti Udyog Ltd. vs. DCIT 92 ITD 119 (Del.) iv. Kirloskar Ebara Pumps Ltd. vs. DCIT 138 TTJ 211 (Pune) v. Shipping Corporation of India Ltd. vs. Addl. CIT Lex doc ID 415851 As regards to interest on customer outstanding is profit derived from eligible undertakings and entitled for…

GAIL (INDIA) LTD.,NEW DELHI vs. DCIT-LTU DELHI, NEW DELHI

Appeal is dismissed

ITA 4454/DEL/2013[1996-97]Status: DisposedITAT Delhi26 Oct 2020AY 1996-97

Bench: Sh. R. K. Panda & Ms Suchitra Kamble

Section 80HSection 80I

…the Ld. AR submitted that the interest on loan provided to employees is inextricably linked to the business of the assessee and constitutes business income eligible for deduction. The Ld. AR relied upon the following decisions: i. CIT vs. Eltek SGS (P) Ltd. 300 ITR 6 (Del) ii. Joyco India (P) Limited vs. ITO 122 TTJ 940 (Del.) iii. Maruti Udyog Ltd. vs. DCIT 92 ITD 119 (Del.) iv. Kirloskar Ebara Pumps Ltd. vs. DCIT 138 TTJ 211 (Pune) v. Shipping Corporation of India Ltd. vs. Addl. CIT Lex doc ID 415851 As regards to interest on customer outstanding is profit derived from eligible undertakings and entitled for…

RITESH AGARWAL,MUMBAI vs. ASST. CIT 17(3), MUMBAI

In the result, appeal is partly allowed

ITA 7368/MUM/2018[2013-14]Status: DisposedITAT Mumbai26 Feb 2020AY 2013-14

Bench: Shri Saktijit Dey & Shri G. Manjunatha

For Appellant: Shri S.L. JainFor Respondent: Smt. Jyothilakshmi Nayak
Section 80HSection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER ITA no.7368/Mum./2018 (Assessment Year : 2013–14) Ritesh Agarwal 501, Embassy Centre ……………. Appellant Nariman Point, Mumbai PAN – ABMPA1788L v/s Asstt. Commissioner of Income Tax ……………. Respondent Circle–17(3), Mumbai Assessee by : Shri S.L. Jain Revenue by : Smt. Jyothilakshmi Nayak Date of Hearing – 20.01.2020 Date of Order – 26.02.2020 O R D E R PER SAKTIJIT DEY. J.M. The captioned appeal has been filed by the assessee challenging the order dated 28th November 2018,…

NHAVASHEVA INTERNATIONAL CONTAINER TERMINAL P.LTD,MUMBAI vs. ITO 2(2)(3), MUMBAI

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

ITA 3364/MUM/2014[2010-11]Status: DisposedITAT Mumbai03 Feb 2020AY 2010-11

Bench: Shri Shamim Yahya & Shri Pawan Singh

For Appellant: Shri Girish DaveFor Respondent: Ms. Amrita Ranjan, DR
Section 115J

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”, MUMBAI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA NOS. 705/MUM/2013, : A.Ys : 2009-10 TO 2011-12 3364/MUM/2014 & 3908/MUM/2016 Nhava Sheva International Container vs. ITO –2(2)(3), Mumbai Terminal Private Ltd., (Respondent) Level 1, Darabshaw House, N.M. Marg, Ballard Estate, Mumbai 400 038. PAN : AABCN0185H (Appellant) Appellant by : Shri Girish Dave Respondent by : Ms. Amrita Ranjan, DR Date of Hearing : 18/11/2019 Date of Pronouncement : 03/02/2020 O R D E R PER SHAMIM YAHYA, ACCOUNTANT MEMBER These are ap…

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