CIT v. Excel Industries Ltd.

358 ITR 295Supreme Court of India2013#49 most cited

What is CIT v. Excel Industries Ltd. authority for?

When an income or expenditure is revenue neutral across different assessment years, where any benefit derived is offset by a corresponding liability or reversal, no additional tax liability arises, particularly concerning income recognition under the mercantile system of accounting.

935

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2011 to 2026.

Also referred to as

CIT v. Excel Industries Ltd. · Excel Industries Ltd SC 2013 · Revenue Neutral principle · mercantile system of accounting · right to receive income · taxability of revenue neutral transactions · Section 147 Income Tax Act · reassessment · Section 148 Income Tax Act · profits and gains of business or profession · no tax liability revenue neutral · income accrual reversal

Also reported as

38 Taxmann.com 100219 Taxmann 379

Sections most often in play

Section 143(3)Section 37(1)Section 147Section 14ASection 132Section 153ASection 1961Section 148
Read the full judgment

Issues it is cited on

right to receivemercantile system of accountingrule of consistencysection 35profits and gains of business or professionrevenue expenditureliable to taxsection 80isection 37(1)section 28section 32capital expenditure

Judgments citing CIT v. Excel Industries Ltd.

Ge Subsidiary Inc, 63 (Successor in Interest of Monogram Licesing International Inc.), Mumbai vs. ACIT (It) RG. 3 (2)(2), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 5906/MUM/2018[2014-15]Status: DisposedITAT Mumbai26 Jun 2024AY 2014-15

Bench: Shri Amit Shukla & Shri Gagan Goyalge Subsidiary Inc, 63 (Successor In Interest Of Monogram Licensing International Inc.) C/O. Pwc House, Plot No. 18 A, Guru Nanak Station Road, Bandra, Mumbai- 400050 Pan: Aadcm6233F Appellant Vs. Acit (Intl Taxation) - 3(2) (2), Mumbai, Room No. 1615, Air India Building, Nariman Point, Mumbai- 400 021 Respondent

For Appellant: Shri Dhanesh Bafna, Shri PratikFor Respondent: Shri Abhishek Tharwal, Ld. DR
Section 143(3)Section 144C(13)Section 234BSection 92C(3)

…loss actually caused to the exchequer on account of such differences so as to warrant any income addition to the total income of the assessee. We derive support from the decision of the Hon’ble Supreme Court in the case of CIT v. Excel Industries Ltd. [2013] 262 CTR 261 (SC), extract of which is reproduced hereunder: “32. Thirdly, the real question concerning us is the year in which the assessee is required to pay tax. There is no dispute that in the subsequent accounting year, the assessee did make imports and did derive benefits under the advance license and the duty entitlement pass book and paid tax thereo…

Bajaj Holdngs & Investment Ltd ( Erstwhile Bajaj Auto Ltd), Mumbai vs. Addl CIT RG 3(1), Mumbai

In the result, the appeal of the assessee is partly allowed and appeal of the revenue is dismissed

ITA 3043/MUM/2010[2002-013]Status: DisposedITAT Mumbai24 Jun 2024AY 2002-013

Bench: Shri Vikas Awasthy & Shri Amarjit Singhbajaj Holdings & Vs. Additional Commissioner Investment Ltd. Of Income-Tax, Range 3(1) Erstwile Bajaj Auto Ltd.) Aayakar Bhavan, Bajaj Bhavan, 226, M.K. Road, Nariman Point, Mumbai – 400 020 Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Dcit-3(4) Vs. M/S Bajaj Holding & Room No. 481-2, 4Th Floor, Investment Limited Aaykar Bhavan, (Erstwhile Bajaj Auto Ltd) Mumbai – 400020 226, Bajaj Bhavan, 2Nd Floor, Jamnalal Bajaj Marg, Nariman Point Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Appellant By : Percy Pardiwala & Vasanti Patel Respondent By : Ankush Kapoor

For Appellant: Percy Pardiwala &For Respondent: Ankush Kapoor
Section 143(3)Section 2(47)

…& Investments Ltd. Vs. ACIT, Range 3(1) 52. During the course of appellate proceedings before us the ld. Counsel submitted that the issue in appeal is decided in favour of the assessee by the Hon’ble Supreme Court in the case of Excel Industries Ltd. (2013) 358 ITR 295 (SC). On the other hand, the ld. D.R supported the order of lower authorities. 53. Heard both the sides and perused the material on record. The facts and findings on the issue of taxability is not fully discussed in the order of the assessing officer and the CIT(A) therefore we restore this issue to the file of the assessing officer to decide t…

Addl CIT RG 3(1), Mumbai vs. Bajaj Auto Ltd, Mumbai

In the result, the appeal of the assessee is partly allowed and appeal of the revenue is dismissed

ITA 2899/MUM/2010[2002-03]Status: DisposedITAT Mumbai24 Jun 2024AY 2002-03

Bench: Shri Vikas Awasthy & Shri Amarjit Singhbajaj Holdings & Vs. Additional Commissioner Investment Ltd. Of Income-Tax, Range 3(1) Erstwile Bajaj Auto Ltd.) Aayakar Bhavan, Bajaj Bhavan, 226, M.K. Road, Nariman Point, Mumbai – 400 020 Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Dcit-3(4) Vs. M/S Bajaj Holding & Room No. 481-2, 4Th Floor, Investment Limited Aaykar Bhavan, (Erstwhile Bajaj Auto Ltd) Mumbai – 400020 226, Bajaj Bhavan, 2Nd Floor, Jamnalal Bajaj Marg, Nariman Point Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Appellant By : Percy Pardiwala & Vasanti Patel Respondent By : Ankush Kapoor

For Appellant: Percy Pardiwala &For Respondent: Ankush Kapoor
Section 143(3)Section 2(47)

…& Investments Ltd. Vs. ACIT, Range 3(1) 52. During the course of appellate proceedings before us the ld. Counsel submitted that the issue in appeal is decided in favour of the assessee by the Hon’ble Supreme Court in the case of Excel Industries Ltd. (2013) 358 ITR 295 (SC). On the other hand, the ld. D.R supported the order of lower authorities. 53. Heard both the sides and perused the material on record. The facts and findings on the issue of taxability is not fully discussed in the order of the assessing officer and the CIT(A) therefore we restore this issue to the file of the assessing officer to decide t…

Sh Tech Park Developers Pvt. Ltd., Gurgaon vs. ACIT, Circle-22(2), New Delhi

In the result, grounds raised by the assessee are allowed for

ITA 2043/DEL/2023[2018-19]Status: DisposedITAT Delhi21 Jun 2024AY 2018-19

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

…uence to the department and one should have consider that the department would not fitter away its enquires in fighting matter of this kind (CIT vs Nagri Mills Co. Ltd. reported in 33 ITR 681). Again the Apex Court in CIT vs. Excel Industries Ltd. reported as 358 ITR 295 at page 304, it was held that the dispute raised by the revenue is entirely academic or at best may have a minor tax effect.” 5. After considering the submissions of the assessee and assessment order Ld. CIT(A) dismissed the grounds raised by the assessee by observing as under:- “5.4 The appellant submitted that it used to recognise revenue fol…

The Dy. CIT., Circle-4, Ahmedabad vs. M/S. Invida India Pvt.Ltd. ( Now Known As Menarini India Pvt. Ltd.), Ahmedabad

Appeal of the Revenue is dismissed

ITA 1316/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad30 May 2024AY 2010-11

Bench: Ms. Suchitra Kamble & Shri Waseem Ahmedassessment Year: 2010-11

For Appellant: Shri Ankit Jain, Sr. DRFor Respondent: Shri Tushar Hemani, Sr. Advocate &
Section 142(1)Section 143(1)Section 143(2)

…payments was made in A.Y. 2007- 08 to 09-10 and accepted in those years at the price declared by the assessee i.e. no TP adjustment has been made. Hence, following principles of consistency, no TP adjustment is warranted as held in CIT vs. Excel Industries – 358 ITR 295 (SC). 7. We have heard both the parties and perused all the relevant material available on record. It is pertinent to note that as per “Brand Licensing Agreement” with “Asia Pacific Pharmaceutical Investment Pte. Ltd.” (Singapore AE) on 01.07.2006 for 5 years whereby assessee was assigned the right to manufacture, market and distribute two produ…

Volvo Information Technology Ab, Sweden vs. DCIT Circle Intl. Taxation 3(1)(1), New Delhi

In the result, the appeal is partly allowed for statistical

ITA 2169/DEL/2023[2020-21]Status: DisposedITAT Delhi07 May 2024AY 2020-21

Bench: Shri Saktijit Dey, Vice- & Dr. B.R.R. Kumarassessment Year: 2020-21

Section 143(3)Section 144CSection 153(1)

…cts as the rule of consistency would apply. In this context, learned counsel relied upon the following decisions: 1. Radhasoami Satsang Vs. CIT, 193 ITR 321 (SC) 2. CIT Vs. Kotak Securities Ltd. [2016] 67 taxmann.com 356 (SC) 3. CIT Vs. Excel Industries Ltd, 358 ITR 295 (SC) 8 | P a g e AY: 2020-21 Volvo Information Technology AB 4. CIT Vs. Neo Polypack (P) Ltd., 245 ITR 492 (Delhi) 5. Johnson Matthey India Pvt. Ltd. Vs. DCIT, ITA No. 14/2013 (Delhi) 6. CIT Vs. Alstom Projects India Ltd., 394 ITR 141 (Bombay) 7. Pr. CIT Vs. Nippon Leakless Talbross Pvt. Ltd. 455 ITR 335 (P&B) 8. SC Enviro Agro India Ltd. Vs. DC…

ITO Ward - 7(1), New Delhi vs. Devika Gold Homz Pvt Ltd, New Delhi

In the result, the appeal of the revenue is dismissed

ITA 563/DEL/2020[2014-15]Status: DisposedITAT Delhi12 Mar 2024AY 2014-15

Bench: Shri M. Balaganesh & Shri Yogesh Kumar Usito, Vs. Devika Gold Homz Pvt. Ltd, Ward-7(1), Stilt Floor, Devika Tower, New Delhi New Delhi (Appellant) (Respondent) Pan:Aalcs4525J Assessee By : Shri Somil Agarwal, Adv Shri Deepesh Garg, Adv Revenue By: Shri Vivek Kumar Upadhyay, Sr. Dr Date Of Hearing 18/12/2023 Date Of Pronouncement 12/03/2024

For Appellant: Shri Somil Agarwal, AdvFor Respondent: Shri Vivek Kumar Upadhyay, Sr. DR
Section 143Section 143(3)

…ts 1512392835 Booked/ %age of Sales 98.62% Remaining Revenue already declared to be declared at the time of completion of Project 5. The assessee also placed reliance on the decision of the Hon‟ble Supreme Court in the case of Excel Industries Ltd reported in 358 ITR 295(SC) wherein, it was held that if the income has already been taxed in the subsequent years, revenue has not been deprived of any tax and the rate of tax in both the years is same then the addition made by the ld AO deserves to be deleted as the entire adjudication of the issue becomes academic in nature. The assessee also placed reliance on the d…

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, the appeal of the assessee in ITA No

ITA 4081/DEL/2010[2003-04]Status: PendingITAT Delhi12 Mar 2024AY 2003-04

Bench: Shri Saktijit Dey & Shri N.K. Billaiya

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Rajesh Kumar, CIT-DR

…ply to the income- tax proceedings, the Courts have emphasized there must be consistency in the position that the Revenue takes on an issue in different assessment years. The Ld. AR relied upon the following decisions: • CIT vs. Excel Industries (P) Limited: 358 ITR 295 (SC) • Radhasoami Satsang v. CIT 193 ITR 321 (SC) • DIT (E) v. Apparel Export Promotion Council: 244 ITR 734 (Del) • CIT v. Neo Polypack (P) Ltd: 245 ITR 492 (Del.) • CIT v. Girish Mohan Ganeriwala: 260 ITR 417 (P&H) • CIT V. Dalmia Promoters Developers (P) Ltd: 200 CTR 426 (Del.) • Escorts Cardiac Diseases Hospital: 300 ITR 75 (Del) The Ld. AR…

M/S Din Dayal Pursotam Lal, Sirsa vs. Pr.CIT, Rohtak

ITA 148/CHANDI/2021[2016-17]Status: DisposedITAT Chandigarh04 Mar 2024AY 2016-17

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Gautam Jain, Advocate &For Respondent: Shri Rohit Sharma, CIT-DR
Section 147Section 263Section 40A(3)

…verse inference was ITA 146,147 & 148/CHD/2021 A.Y. 2011-12, 2015-16 & 2016-17 89 drawn against the assessee in this regard only on the ground that copy of Partnership Deed had not been placed on record. The following decisions are to the same effect : i) 358 ITR 295 (SC) CIT vs. Excel Industries Ltd. ii) 308 ITR 161 (SC) CIT vs. J. K. Charitable Trust iii) 266 ITR 99 (SC) CIT v. Berger Paints iv) 394 ITR 449 (SC) Godrej & Boyce Manufacturing company Ltd. vs. DCIT 30.1 Otherwise too, as rightly contended, both the payments, i.e., either on account of remuneration paid to partners, or on account of interest pa…

M/S Din Dayal Pursotam Lal, Sirsa vs. Pr.CIT, Rohtak

ITA 147/CHANDI/2021[2015-16]Status: DisposedITAT Chandigarh04 Mar 2024AY 2015-16

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Gautam Jain, Advocate &For Respondent: Shri Rohit Sharma, CIT-DR
Section 147Section 263Section 40A(3)

…verse inference was ITA 146,147 & 148/CHD/2021 A.Y. 2011-12, 2015-16 & 2016-17 89 drawn against the assessee in this regard only on the ground that copy of Partnership Deed had not been placed on record. The following decisions are to the same effect : i) 358 ITR 295 (SC) CIT vs. Excel Industries Ltd. ii) 308 ITR 161 (SC) CIT vs. J. K. Charitable Trust iii) 266 ITR 99 (SC) CIT v. Berger Paints iv) 394 ITR 449 (SC) Godrej & Boyce Manufacturing company Ltd. vs. DCIT 30.1 Otherwise too, as rightly contended, both the payments, i.e., either on account of remuneration paid to partners, or on account of interest pa…

M/S Din Dayal Pursotam Lal, Sirsa vs. Pr.CIT, Rohtak

ITA 146/CHANDI/2021[2011-12]Status: DisposedITAT Chandigarh04 Mar 2024AY 2011-12

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Gautam Jain, Advocate &For Respondent: Shri Rohit Sharma, CIT-DR
Section 147Section 263Section 40A(3)

…verse inference was ITA 146,147 & 148/CHD/2021 A.Y. 2011-12, 2015-16 & 2016-17 89 drawn against the assessee in this regard only on the ground that copy of Partnership Deed had not been placed on record. The following decisions are to the same effect : i) 358 ITR 295 (SC) CIT vs. Excel Industries Ltd. ii) 308 ITR 161 (SC) CIT vs. J. K. Charitable Trust iii) 266 ITR 99 (SC) CIT v. Berger Paints iv) 394 ITR 449 (SC) Godrej & Boyce Manufacturing company Ltd. vs. DCIT 30.1 Otherwise too, as rightly contended, both the payments, i.e., either on account of remuneration paid to partners, or on account of interest pa…

The Mehsana Urban Co. Operative Bank Ltd., Mehsana vs. The ACIT, Mehsana Circle, Mehsana

In the result, the appeal of the assessee in ITANo

ITA 146/AHD/2023[2018-19]Status: DisposedITAT Ahmedabad15 Feb 2024AY 2018-19

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Bandish Soparkar, ARFor Respondent: Shri Sanjay Jain, Sr.DR
Section 143(3)Section 147Section 148Section 250(6)

…ax thereon in the impugned year itself; that the assessee had accounted for the same as its income in the subsequent year, and paid taxes on the same; that there is no loss to the Revenue, therefore, following the decision of Hon’ble Apex Court in the case of 358 ITR 295 (SC) CIT vs. Excel Industries Ltd. there is no case for making any addition to the income of the assessee. The ld.DR however vehemently supported the order of the authorities below. 32. We have heard both the parties; and gone through the material available on record. It is not disputed that this income has been returned to tax by the assessee…

The Mehsana Urban Co. Operative Bank Ltd., Mehsana vs. The ACIT, Mehsana Circle, Mehsana

In the result, the appeal of the assessee in ITANo

ITA 145/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad15 Feb 2024AY 2017-18

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Bandish Soparkar, ARFor Respondent: Shri Sanjay Jain, Sr.DR
Section 143(3)Section 147Section 148Section 250(6)

…ax thereon in the impugned year itself; that the assessee had accounted for the same as its income in the subsequent year, and paid taxes on the same; that there is no loss to the Revenue, therefore, following the decision of Hon’ble Apex Court in the case of 358 ITR 295 (SC) CIT vs. Excel Industries Ltd. there is no case for making any addition to the income of the assessee. The ld.DR however vehemently supported the order of the authorities below. 32. We have heard both the parties; and gone through the material available on record. It is not disputed that this income has been returned to tax by the assessee…

The Mehsana Urban Co. Operative Bank Ltd., Mehsana vs. The ACIT, Mehsana Circle, Mehsana

In the result, the appeal of the assessee in ITANo

ITA 144/AHD/2023[2012-13]Status: DisposedITAT Ahmedabad15 Feb 2024AY 2012-13

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Bandish Soparkar, ARFor Respondent: Shri Sanjay Jain, Sr.DR
Section 143(3)Section 147Section 148Section 250(6)

…ax thereon in the impugned year itself; that the assessee had accounted for the same as its income in the subsequent year, and paid taxes on the same; that there is no loss to the Revenue, therefore, following the decision of Hon’ble Apex Court in the case of 358 ITR 295 (SC) CIT vs. Excel Industries Ltd. there is no case for making any addition to the income of the assessee. The ld.DR however vehemently supported the order of the authorities below. 32. We have heard both the parties; and gone through the material available on record. It is not disputed that this income has been returned to tax by the assessee…

Keep Learning Resources Private Limited, Mumbai vs. Income Tax Officer Ward-12(1)(4), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 1693/MUM/2023[2017-2018]Status: DisposedITAT Mumbai09 Feb 2024AY 2017-2018

Bench: Shri Aby T Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blekeep Learning Resources Private Limited V. Income Tax Officer – 12(3)(2) D-Wing, Chanakya Chs Aayakar Bhavan, M.K. Road Link Road, Mahavir Nagar Mumbai - 400020 Kandivali (W), Mumbai - 400067 Pan: Aadcc6594R (Appellant) (Respondent) Assessee Represented By : Shri Kapil Sanghvi Department Represented By : Shri P.D. Chougule

Section 143(1)Section 143(2)Section 56(2)(viib)

…matter "principle of consistency should be followed by the department. We relied on the following case laws in support of the Principal of Consistency:- 1. Radhasoami Satsang V. CIT [1992] 60 Taxman 248/193 itr 321 (SC) 2. CIT V. Excel Industries Ltd. [2013] 358 ITR 295/219 Taxman 379/38 taxmann.com 100 (SC).” 8. After considering the submissions of the assessee, Assessing Officer rejected the same by observing as under: - “4.6 Assessee's submission has been carefully perused and duly considered but found not acceptable. The above submission of the assessee company talks about the method adopted for getting fa…

DCIT Central Circle, Karnal vs. Reliable Realtech Pvt Ltd, Bhiwani

In the result, appeal of the Revenue is dismissed

ITA 4808/DEL/2019[2014-15]Status: DisposedITAT Delhi09 Feb 2024AY 2014-15

Bench: Shri M Balaganesh & Ms. Astha Chandraasstt. Year: 2014-15 Dcit, Central Circle, Vs. Reliable Realtech Pvt. Ltd. Ayakar Bhawan, C/O Nk Jain Adv. Sec-12, Karnal, Naya Bazar, Bhiwani Haryana Pin 132001 Haryana Pin 127021 Pan Aadcr4203L (Appellant) (Respondent)

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Shri P.N. Barnwal, CIT DR
Section 132Section 132(4)Section 143(3)Section 153A

…ly followed the Project Completion Method and it has been accepted by the Department in the earlier years. The Principle of Resjudicata' is applicable to the case of the appellant as enunciated by the Hon'ble Supreme Court in the case of the Excel Industries (358 ITR 295). Hon'ble Delhi High Court while examining the applicability of the completed Method v/s POCM Method in the case of Paras Build Tech India Pvt. Ltd. 382 ITR 630 has held as under:- (i) Section 145(1) of the Act stated that income chargeable under the head 'Profit and Gains of Business or Profession' shall be computed in accordance with either cas…

ACIT, Central Circle-1(1), Hyderabad vs. Ncc Limited, Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 80/HYD/2017[2011-12]Status: DisposedITAT Hyderabad31 Jan 2024AY 2011-12

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)
Section 143(1)

…projects for which the Department had granted 80IA (4), are continuing in the subsequent assessment years and therefore, the principle of consistency is required to be followed. The LD.AR had relied upon the following decisions: 1. CIT vs. Excel Industries (358 ITR 295) 2. Radhaswamy Sansangh vs. CIT 193 ITR 321 3. PCIT vs. Gujarat Narmada Valley 422 ITR 164 4. Prasad Multi Services Pvt Ltd vs. DCIT 423 ITR 542 5. CIT vs. Escorts Ltd 338 ITR 485 35. In rebuttal, the learned DR submitted that the Tribunal in the case of NCC Mytas for the A.Y 2006-07 after elaborate examination of the facts had decided the issue…

ACIT, Central Circle-1(1), Hyderabad vs. Ncc Limited, Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 79/HYD/2017[2010-11]Status: DisposedITAT Hyderabad31 Jan 2024AY 2010-11

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)
Section 143(1)

…projects for which the Department had granted 80IA (4), are continuing in the subsequent assessment years and therefore, the principle of consistency is required to be followed. The LD.AR had relied upon the following decisions: 1. CIT vs. Excel Industries (358 ITR 295) 2. Radhaswamy Sansangh vs. CIT 193 ITR 321 3. PCIT vs. Gujarat Narmada Valley 422 ITR 164 4. Prasad Multi Services Pvt Ltd vs. DCIT 423 ITR 542 5. CIT vs. Escorts Ltd 338 ITR 485 35. In rebuttal, the learned DR submitted that the Tribunal in the case of NCC Mytas for the A.Y 2006-07 after elaborate examination of the facts had decided the issue…

ACIT, Central Circle-1(1), Hyderabad vs. Ncc Limited, Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 78/HYD/2017[2009-10]Status: DisposedITAT Hyderabad31 Jan 2024AY 2009-10

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)
Section 143(1)

…projects for which the Department had granted 80IA (4), are continuing in the subsequent assessment years and therefore, the principle of consistency is required to be followed. The LD.AR had relied upon the following decisions: 1. CIT vs. Excel Industries (358 ITR 295) 2. Radhaswamy Sansangh vs. CIT 193 ITR 321 3. PCIT vs. Gujarat Narmada Valley 422 ITR 164 4. Prasad Multi Services Pvt Ltd vs. DCIT 423 ITR 542 5. CIT vs. Escorts Ltd 338 ITR 485 35. In rebuttal, the learned DR submitted that the Tribunal in the case of NCC Mytas for the A.Y 2006-07 after elaborate examination of the facts had decided the issue…

ACIT, Central Circle-1(1), Hyderabad vs. Ncc Limited, Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 77/HYD/2017[2008-09]Status: DisposedITAT Hyderabad31 Jan 2024AY 2008-09

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)
Section 143(1)

…projects for which the Department had granted 80IA (4), are continuing in the subsequent assessment years and therefore, the principle of consistency is required to be followed. The LD.AR had relied upon the following decisions: 1. CIT vs. Excel Industries (358 ITR 295) 2. Radhaswamy Sansangh vs. CIT 193 ITR 321 3. PCIT vs. Gujarat Narmada Valley 422 ITR 164 4. Prasad Multi Services Pvt Ltd vs. DCIT 423 ITR 542 5. CIT vs. Escorts Ltd 338 ITR 485 35. In rebuttal, the learned DR submitted that the Tribunal in the case of NCC Mytas for the A.Y 2006-07 after elaborate examination of the facts had decided the issue…