CIT v. Emptee Poly Tarn Pvt. Ltd.

DCIT CC 3(2) CEN RG 3, MUMBAI vs. VIVEK MEHROTRA, MUMBAI

In the result, both the appeals are partly allowed for statistical purposes

Bench: Shri Saktijit Dey & Shri Rajesh Kumarassessment Year: 2014-15 & Assessment Year: 2013-14

…round reality in inserting section 2(29BA) in the Income Tax Law. The said definition was again applied by the Hon'ble Supreme Court in CIT V. Emptee Poly-Yarn Pvt. Ltd. (2010) "Green Tea" means the variety of manufactured tea commercially known as green tea; 320 ITR 665,667 (SC). 33. The Assessee Company carries out its operations of blending, packaging and export of tea bags, tea packets and bulk tea packs in its modern factory, well equipped with all imported and sophisticated automatic plant and machineries with the help of over 100 workmen engaged on contract basis through M/s. Trot Pvt. Ltd. The manufactu…

DCIT CC 3(2) CEN RG 3, MUMBAI vs. VIVEK MEHROTRA, MUMBAI

In the result, all the appeals are dismissed, in the terms indicated above

…round reality in inserting section 2(29BA) in the Income Tax Law. The said definition was again applied by the Hon'ble Supreme Court in CIT V. Emptee Poly-Yarn Pvt. Ltd. (2010) "Green Tea" means the variety of manufactured tea commercially known as green tea; 320 ITR 665,667 (SC). 33. The Assessee Company carries out its operations of blending, packaging and export of tea bags, tea packets and bulk tea packs in its modern factory, well equipped with all imported and sophisticated automatic plant and machineries with the help of over 100 workmen engaged on contract basis through M/s. Trot Pvt. Ltd. The manufacturi…

DCIT CC 3(2) CEN RG 3, MUMBAI vs. VIVEK MEHROTRA, MUMBAI

In the result, all the appeals are dismissed, in the terms indicated above

…round reality in inserting section 2(29BA) in the Income Tax Law. The said definition was again applied by the Hon'ble Supreme Court in CIT V. Emptee Poly-Yarn Pvt. Ltd. (2010) "Green Tea" means the variety of manufactured tea commercially known as green tea; 320 ITR 665,667 (SC). 33. The Assessee Company carries out its operations of blending, packaging and export of tea bags, tea packets and bulk tea packs in its modern factory, well equipped with all imported and sophisticated automatic plant and machineries with the help of over 100 workmen engaged on contract basis through M/s. Trot Pvt. Ltd. The manufacturi…

DCIT CC 3(2) CEN RG 3, MUMBAI vs. VIVEK MEHROTRA, MUMBAI

In the result, all the appeals are dismissed, in the terms indicated above

…round reality in inserting section 2(29BA) in the Income Tax Law. The said definition was again applied by the Hon'ble Supreme Court in CIT V. Emptee Poly-Yarn Pvt. Ltd. (2010) "Green Tea" means the variety of manufactured tea commercially known as green tea; 320 ITR 665,667 (SC). 33. The Assessee Company carries out its operations of blending, packaging and export of tea bags, tea packets and bulk tea packs in its modern factory, well equipped with all imported and sophisticated automatic plant and machineries with the help of over 100 workmen engaged on contract basis through M/s. Trot Pvt. Ltd. The manufacturi…

ACIT 19(2), MUMBAI vs. K.P. SANGHAVI & SONS, MUMBAI

In the result, both appeal of the Revenue and Cross Objection of the assessee are dismissed

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Blea.C.I.T Circle – 19(2) V. M/S. K.P. Sanghvi & Sons Llp Room No. 207, {Formerly Known As M/S. K.P. Sanghvi & Sons} Gw-7011/7012, Mathru Mandir, Bharat Diamond Bourse, Mumbai – 400 007 Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Pan: Aaafk 8390 F (Appellant) (Respondent) Co No.237/Mum/2018 (A.Y: 2011-12) [Arising Out Of Ita No.2455/Mum/2017] M/S. K.P. Sanghvi & Sons Llp V. A.C.I.T Circle – 19(2) {Formerly Known As M/S. K.P. Sanghvi & Sons} Room No. 207, 2Nd Floor Gw-7011/7012, Mathru Mandir, Tardeo Bharat Diamond Bourse, Road, Mumbai – 400 007 Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Pan: Aaafk 8390 F (Appellant) (Respondent) Assessee By : Shri Aditya R. Ajgaonkar Department By : Shri Manoj Kumar Singh

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “H”, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI N.K. PRADHAN, HON'BLE ACCOUNTANT MEMBER A.C.I.T Circle – 19(2) v. M/s. K.P. Sanghvi & Sons LLP Room No. 207, {formerly known as M/s. K.P. Sanghvi & Sons} GW-7011/7012, Mathru Mandir, Bharat Diamond Bourse, Mumbai – 400 007 Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 PAN: AAAFK 8390 F (Appellant) (Respondent) CO NO.237/MUM/2018 (A.Y: 2011-12) [ARISING OUT OF ITA NO.2455/MUM/2017] M/s. K.P. Sanghvi & Sons LLP v. A.C.I.T Circle – 19(2) {formerly known as M/s. K.P. Sanghvi & Sons} Room No. 20…

ACIT 19(2), MUMBAI vs. K.P. SANGHVI & SONS, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm Acit 19(2) Vs. M/S. K.P. Sanghvi & Sons R.No.L-207, 1301, Prasad Chambers Matru Mandir Mamam Parmanand Marg Mumbai – 400 007 Opera House, Mumbai – 400 004 Pan/Gir No. Aaafk8390F Appellant) .. Respondent)

…n of Hon’ble Supreme Court in the case of Gen India Mfg. Co. 249 ITR 307 and the subsequent decisions of the apex Court in the case of Arihant Tiles and Marble (P) Ltd. 320 ITR 79 (SC), Vijay Ship Breaking Corpn. 314 ITR 309 (SC) and Empee Poly Yarn Pvt. Ltd. 320 ITR 665 to hold that t he assessee was engaged in the business of manufacturing of cutting and polishing rough diamonds and hence, it was eligible for deduction u/s 80 IA of the Act. Following the above said decisions, the appellant’s claim for additional depreciation u/s. 32(1) (ii) of the Act was allowed. As the facts obtaining in the current year are…