CIT v. Emirates Commercial Bank Ltd.

DDIT, New Delhi vs. M/S. the Bank of Tokyo Mitsubishi Ufj Ltd., New Delhi

Appeal is dismissed

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

…mpugned common order referred to and relied upon the decision of its coordinate bench at Kolkata in ABN Amro Bank v. JCIT (2005)97 ITD 1(ITAT (Kol). Further the ITAT followed the decision of the Bombay High Court in CIT v. Emirates Commercial Bank Ltd. (2003) 262 ITR 55 (Bom.) where the Bombay High Court approved the view taken by the ITAT. The ITAT agreed that the expenses have been incurred wholly and exclusively by the Indian branch and therefore no part of these expenses can be allocated to any other branch and the HO and that there was no dispute with regard to the non- applicability of Section 44C of the Ac…

M/S. the Bank of Tokyo-Mitsubishi, Ufj Ltd., New Delhi vs. DDIT, New Delhi

Appeal is dismissed

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

…mpugned common order referred to and relied upon the decision of its coordinate bench at Kolkata in ABN Amro Bank v. JCIT (2005)97 ITD 1(ITAT (Kol). Further the ITAT followed the decision of the Bombay High Court in CIT v. Emirates Commercial Bank Ltd. (2003) 262 ITR 55 (Bom.) where the Bombay High Court approved the view taken by the ITAT. The ITAT agreed that the expenses have been incurred wholly and exclusively by the Indian branch and therefore no part of these expenses can be allocated to any other branch and the HO and that there was no dispute with regard to the non- applicability of Section 44C of the Ac…

Pr. CIT vs. The Bank of Tokyo Misubishi Ufj Ltd

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

…ned common order referred to and relied upon the decision of its coordinate bench at Kolkata in ABN Amro Bank v. JCIT (2005)9 7 lTD 1(ITAT[Kol]). Further the ITAT followed the decision of the Bombay High Court in CIT v. Emirates Commercial Bank Ltd. (2003) 262 ITR 55 (Bom.) where the Bombay High Court approved the view taken by the ITAT. The ITAT agreed that the expenses have been incurred wholly and exclusively by the Indian branch and therefore no part of these expenses can be allocated to any other branch of the HO and that there was no dispute with regard to the non-applicability of Section 44C of the…

Commissioner of Income Tax vs. M/S Hls India Ltd

The appeals are dismissed

Bench: Coming To These Legal Issues It Would Be Pertinent, In The Light Of Facts & Circumstances Of These Cases, First Of All To Succinctly Narrate The Genesis Of Instant Prolonged Tax Dispute Between The Revenue & The Assessee.

…Datacons (P) Ltd. (1985) 155 ITR 66 3. CIT Vs. Peerless Consultancy Services Pvt. Ltd. [186 ITR 609 (Cal)] 4. CIT Vs. Shaw Wallace and Co. Ltd. [201 ITR 17 (Cal) 5. Ship Scrap Traders Vs. CIT [251 ITR 806 (Bom)] 6. CIT Vs. Emirates Commercial Bank Ltd. [ 262 ITR 55 (Bom)] 7. CIT Vs. Professional Information Systems and Management. [274 ITR 242 (Guj)] 8. CIT Vs. Oracle Software India Ltd. [320 ITR 546 (SC)] ITA Nos. 194/2005, 208/2002 & Ors. Connected Matters Page 14 of 52 17. In the case of I.B.M. World Trade Corporation (supra) the question before the Bombay High Cour…

Commissioner of Income Tax vs. Hls Asia Limited

The appeals are dismissed

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

…] CIT Vs. Datacons (P} Ltd. (1985) 155 ITR 66 CIT Vs. Peerless Consultancy Services Pvt. Ltd. [186 ITR 609 (Cal)] CIT Vs. Shaw Wallace and Co. Ltd. [201 ITR 17 (Cal) Ship Scrap Traders Vs. CIT [251 ~TR 806 (Born)] CIT Vs. Emirates Commercial Bank Ltd. [ 262 ITR 55 (Born)] CIT Vs. Professional Information Systems and Management. [274 ITR 242 (Guj)] CIT Vs. Oracle Software India Ltd. [320 ITR 546 (SC)] ITA Nos. 194/2005, 208/2002 & Ors. Connected Matters Page 13of52 Uf' --~.------ 17. In the case of l.B.M. World Trade Corporation (supra) the question before the Bombay High Court was as to whet…

Commissioner of Income Tax vs. M/S Hls India Ltd

The appeals are dismissed

Bench: Coming To These Legal Issues It Would Be Pertinent, In The Light Of Facts & Circumstances Of These Cases, First Of All To Succinctly Narrate The Genesis Of Instant Prolonged Tax Dispute Between The Revenue & The Assessee.

…Datacons (P) Ltd. (1985) 155 ITR 66 3. CIT Vs. Peerless Consultancy Services Pvt. Ltd. [186 ITR 609 (Cal)] 4. CIT Vs. Shaw Wallace and Co. Ltd. [201 ITR 17 (Cal) 5. Ship Scrap Traders Vs. CIT [251 ITR 806 (Bom)] 6. CIT Vs. Emirates Commercial Bank Ltd. [ 262 ITR 55 (Bom)] 7. CIT Vs. Professional Information Systems and Management. [274 ITR 242 (Guj)] 8. CIT Vs. Oracle Software India Ltd. [320 ITR 546 (SC)] 2011:DHC:2637-DB ITA Nos. 194/2005, 208/2002 & Ors. Connected Matters Page 14 of 52 17. In the case of I.B.M. World Trade Corporation (supra) the question before the…

Ansal Housing & Construction Ltd vs. C.I.T

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…on of articles and even in the absence of either of them there could be an industrial undertaking……..” 15. Mr. Vohra also relied upon another judgment of the Bombay High Court in the case of Commissioner of Income Tax v. Emirates Commercial Bank Ltd., 262 ITR 55. In that case, the Bombay High Court held that the branch of a foreign bank existing in India was entitled to investment allowance under section 32A of the Act with respect to computers installed in the bank. The deduction under the said section is available to an “industrial undertaking” engaged in manufacture or production of an article o…

Ansal Housing & Construction Ltd vs. C.I.T

Accordingly, these appeals preferred by the assessee are dismissed with costs of Rs

…ction of articles and even in the absence of either of them there could be an industrial undertaking......" - 15. Mr. Vohra also relied upon another judgment of the Bombay High Court in the case of Commissioner of Income Tax v. Emirates Commercial Bank Ltd., 262 ITR 55. In that case, the Bombay High Court held that the branch of a foreign bank existing in India was entitled to investment allowance under section 32A of the Act with respect to computers installed in the bank. The deduction under the said section is available to an "industrial undertaking" engaged in manufacture or production of an article or a thi…

Ansal Housing & Construction Ltd vs. C.I.T

Accordingly, these appeals preferred by the assessee are dismissed with costs of Rs

…ction of articles and even in the absence of either of them there could be an industrial undertaking......" - 15. Mr. Vohra also relied upon another judgment of the Bombay High Court in the case of Commissioner of Income Tax v. Emirates Commercial Bank Ltd., 262 ITR 55. In that case, the Bombay High Court held that the branch of a foreign bank existing in India was entitled to investment allowance under section 32A of the Act with respect to computers installed in the bank. The deduction under the said section is available to an "industrial undertaking" engaged in manufacture or production of an article or a thi…

Ansal Housing & Construction Ltd vs. Commissioner of Income Tax

…on of articles and even in the absence of either of them there could be an industrial undertaking……..” 15. Mr. Vohra also relied upon another judgment of the Bombay High Court in the case of Commissioner of Income Tax v. Emirates Commercial Bank Ltd., 262 ITR 55. In that case, the Bombay High Court held that the branch of a foreign bank existing in India was entitled to investment allowance under section 32A of the Act with respect to computers installed in the bank. The deduction under the said section is available to an “industrial undertaking” engaged in manufacture or production of an article o…