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.

How many judgments cite CIT v. Excel Industries Ltd.?

935 judgments on BharatTax cite CIT v. Excel Industries Ltd. (358 ITR 295), spanning 2011 to 2026.

Which sections of the Income Tax Act does CIT v. Excel Industries Ltd. come up under?

It is most often cited in judgments turning on Section 143(3), Section 37(1), Section 147, Section 14A, Section 132, Section 153A.

CIT v. Excel Industries Ltd. (358 ITR 295)

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

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

ITA 75/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…

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

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

ITA 74/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…

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

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

ITA 73/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…

The DCIT, Circle-2(1)(1), Ahmedabad vs. M/S. Flax Apparels Pvt. Ltd., Ahmedabad

The appeal of the Revenue is dismissed

ITA 1693/AHD/2019[2013-14]Status: DisposedITAT Ahmedabad19 Jan 2024AY 2013-14

Bench: Smt. Annapurna Gupta & Shri T.R. Senthil Kumarिनधा"रणवष"/Assessment Year: 2013-14 The Dcit Vs. M/S. Flax Apparels Pvt. Ltd., Circle-2(1)(1) 70, Balaji Estate Ahmedabad Nr.Budhalal Tamaku B/H. Hotel Moni Isanpur, Ahmedabad-382 443 Pan: Aaacf 4058 N अपीलाथ"/ (Appellant) अपीलाथ" "" यथ" "" यथ"/ (Respondent) अपीलाथ" अपीलाथ" "" "" यथ" यथ" Assessee By : -None- Revenue By : Shri Alok Kumar, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 30/10/2023 घोषणा क" तारीख /Date Of Pronouncement: 19/01/2024 आदेश आदेश/O R D E R आदेश आदेश Per Annapurna Gupta: This Appeal Filed By The Revenue Is Directed Against The Order Of Learned Commissioner Of Income-Tax (Appeals)-2, Ahmedabad [Hereinafter Referred To As “Ld.Cit(A)” For Short] Dated 14/08/2019 Passed For Assessment Year (Ay) 2013-14. 2. Earlier, This Appeal Was Dismissed On Account Of Low Tax Effect Vide

For Appellant: -None-For Respondent: Shri Alok Kumar, CIT-DR

Section 37Section 43B

…आयकर अपीलीय आयकर अपीलीय अिधकरण अिधकरण, अहमदाबाद"यायपीठ अहमदाबाद"यायपीठ ‘‘‘बी बी’’’ अहमदाबाद अहमदाबाद । आयकर आयकर अपीलीय अपीलीय अिधकरण अिधकरण अहमदाबाद"यायपीठ अहमदाबाद"यायपीठ अहमदाबाद अहमदाबाद बी बी IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER & SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER िनधा"रणवष"/Assessment Year: 2013-14 The DCIT Vs. M/s. Flax Apparels Pvt. Ltd., Circle-2(1)(1) 70, Balaji Estate Ahmedabad Nr.Budhalal Tamaku B/h. Hotel Moni Isanpur, Ahmedabad-382 443 PAN: AAACF 4058 N अपीलाथ"/ (Appellant) अपीलाथ" "" यथ" "" यथ"/ (Respondent) अपीलाथ" अपीलाथ"…

K P Muhammed Ali, Calicut vs. ITO ( International Taxation), Kozhikode

In the result, the assessee’s appeal is partly allowed for statistical purposes

ITA 1008/COCH/2022[2012-13]Status: DisposedITAT Cochin12 Jan 2024AY 2012-13

Bench: Shri Sanjay Arora & Manomohan Dask.P. Muhammed Ali Income Tax Officer K.P. House: 19/1866 (International Taxation) Chalappuram Vs. Kozhikode Calicut 673002 [Pan:Agnpm9397F] (Appellant) (Respondent)

For Appellant: Shri Raghunathan Palakkal, AdvocateFor Respondent: Shri Sanjit Kumar Das, CIT-DR

Section 143(3)Section 2(47)Section 2(47)(vi)Section 53A

…n fact no accrual of 7 K.P. Muhammed Ali v. ITO income, placing reliance for the purpose on the decisions in E.D. Sasoon and Co. Ltd. v. CIT [1954] 26 ITR 27, 51(SC); Morvi Industries Ltd. v. CIT [1971] 82 ITR 835 (SC); and CIT v. Excel Industries Ltd. [2013] 358 ITR 295 (SC), also reproducing there-from. That is to say, the same turned on the basis of an absence of any real income. As regards s. 2(47)(vi), also pleaded, though found inapplicable in that case, the same, as a reading of the judgement would show, was in view of the peculiar facts of the case, wherein the agreement was subject to obtaining necessary…

ACIT Circle 5(1)(1), Mumbai vs. M/S Essar Shipping Limited, Mumbai

In the result, appeal filed by the learned AO is dismissed

ITA 2951/MUM/2022[2015-2016]Status: DisposedITAT Mumbai09 Jan 2024AY 2015-2016

Bench: Shri Prashant Maharishi, Am & Shri Narender Kumar Choudhry, Jm M/S Essar Shipping Limited Acit, Circle 5(1)(1) Essar House, 11, R.No.568, Aaykar Bhavan, Vs. Kk Marg, Mahalaxmi, M.K. Road, Mumbai-400 020 Mumbai-400 034 (Appellant) (Respondent) Pan No. Aacce3707D

For Appellant: Shri Rishav Patawari, ARFor Respondent: Shri Manoj Sinha, CIT DR

Section 115VSection 143Section 144CSection 28Section 43Section 92Section 92CSection 92F

…terest income M/s Essar Shipping Limited; A.Y. 2012-13 received by the assessee should be taxed as business income. In order to support the said contention reliance is placed on the decision of the Honble Supreme Court in the case of CIT vs. Excel Industries (358 ITR 295). Accordingly, we do not find any justification in the order of AO for treating interest income as income from other sources. 44. In view of the above discussion, we direct the AO to treat interest income as income from business and to allow interest expenditure u/s.36(1)(iii) of the I.T. Act. We direct accordingly.” 033. As the above issue is d…

DCIT Circle-24(2), New Delhi vs. Sunbeam Auto Pvt Ltd., New Delhi

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

ITA 673/DEL/2020[2012-13]Status: DisposedITAT Delhi27 Dec 2023AY 2012-13

Bench: Shri Shamim Yahya & Shri Challa Nagendra Prasada.Yr. : 2012-13 Sunbeam Lightweighting Vs. Dcit, Circle 24(2), Solutions Pvt. Ltd. New Delhi – 110002 (Formerly: Sunbeam Auto Pvt. Ltd), 38/6, K.M. Stone, Delhi-Jaipur Highway, Narsingpur, Gurgaon-122001 (Pan: Aafcn8583K) (Appellant) (Respondent) & Ay 2012-13 Dcit, Circle 24(2), Sunbeam Auto Pvt. Ltd, Room No. 328, Cr Building, Vs. S-323, Panchsheel Park, Ip Estate, New Delhi – 110 017 New Delhi – 2 (Pan: Aaabcs2948F) (Respondent) (Appellant) Assessee By : Ms. Sashi Kapila, Adv., Sh. Sushil Kumar, Adv. & Sh. Parvesh Kumar, Adv. Department By : Sh. Anuj Garg, Sr. Dr. Date Of Hearing : 20.12.2023 Date Of Pronouncement : 27.12.2023 Order Per Shamim Yahya, Am : The Assessee As Well As Revenue Has Filed The Cross Appeals Against The Order Of The Ld. Cit(A)-8, New Delhi Relating To Assessment Year 2012-13 On The Following Grounds:-

For Appellant: Ms. Sashi Kapila, Adv., Sh. SushilFor Respondent: Sh. Anuj Garg, Sr. DR

Section 143(3)Section 14ASection 264Section 40Section 43(1)Section 43(6)

…w facts or law has been brought out by the Ld. AO/CIT(A) in AY 2011-12 under consideration. They have merely taken a different stand on the same facts which violates the principle of rule of consistency as held by the Hon’ble Supreme Court in Excel Industries 358 ITR 295 (SC). 11.1 On merits, the Ld. AR submitted that commission to foreign sales agents is paid for procuring successful orders only after the agreed price is released by the foreign purchaser. The agent carries out market study etc. for boosting his commission income. The agents act at the dictates of the assessee. They were not authorized to make an…

Sunbeam Lightweighting Solutions Pvt Ltd (Formely Sunbeam Auto Pvt Ltd), Gurgaon vs. DCIT Circle-24(2), New Delhi

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

ITA 115/DEL/2020[2012-13]Status: DisposedITAT Delhi27 Dec 2023AY 2012-13

Bench: Shri Shamim Yahya & Shri Challa Nagendra Prasada.Yr. : 2012-13 Sunbeam Lightweighting Vs. Dcit, Circle 24(2), Solutions Pvt. Ltd. New Delhi – 110002 (Formerly: Sunbeam Auto Pvt. Ltd), 38/6, K.M. Stone, Delhi-Jaipur Highway, Narsingpur, Gurgaon-122001 (Pan: Aafcn8583K) (Appellant) (Respondent) & Ay 2012-13 Dcit, Circle 24(2), Sunbeam Auto Pvt. Ltd, Room No. 328, Cr Building, Vs. S-323, Panchsheel Park, Ip Estate, New Delhi – 110 017 New Delhi – 2 (Pan: Aaabcs2948F) (Respondent) (Appellant) Assessee By : Ms. Sashi Kapila, Adv., Sh. Sushil Kumar, Adv. & Sh. Parvesh Kumar, Adv. Department By : Sh. Anuj Garg, Sr. Dr. Date Of Hearing : 20.12.2023 Date Of Pronouncement : 27.12.2023 Order Per Shamim Yahya, Am : The Assessee As Well As Revenue Has Filed The Cross Appeals Against The Order Of The Ld. Cit(A)-8, New Delhi Relating To Assessment Year 2012-13 On The Following Grounds:-

For Appellant: Ms. Sashi Kapila, Adv., Sh. SushilFor Respondent: Sh. Anuj Garg, Sr. DR

Section 143(3)Section 14ASection 264Section 40Section 43(1)Section 43(6)

…w facts or law has been brought out by the Ld. AO/CIT(A) in AY 2011-12 under consideration. They have merely taken a different stand on the same facts which violates the principle of rule of consistency as held by the Hon’ble Supreme Court in Excel Industries 358 ITR 295 (SC). 11.1 On merits, the Ld. AR submitted that commission to foreign sales agents is paid for procuring successful orders only after the agreed price is released by the foreign purchaser. The agent carries out market study etc. for boosting his commission income. The agents act at the dictates of the assessee. They were not authorized to make an…

Indiabullas Housing Finance Limited, Mumbai vs. DCIT, Central Circle-6(4), Mumbai

ITA 821/MUM/2023[2018-2019]Status: DisposedITAT Mumbai18 Dec 2023AY 2018-2019

For Appellant: Shri K. Gopal &For Respondent: Shri Rakesh Garg

Section 143(1)Section 143(3)Section 14ASection 37(1)

…Indiabulls Commercial Credit Limited (ICCL) and the assessee has exhibited that ICCL has also disallowed the same in its AYs 2018-19 & 2019-2020 computation of income in accordance with ICDS-1. The Hon'ble Apex Court in the case of CIT v. Excel Industries Ltd 358 ITR 295 (SC) held that Notional/ Hypothetical income which has not been received or has not accrued to the assessee cannot be taxed under the Act. The relevant portion of the said judgment is as under. 19. This Court further held, and in our opinion more importantly, that income accrues when there "arises a corresponding liability of the other party fro…

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

In the result ground 2 of the CO

ITA 188/RPR/2023[2018-19]Status: DisposedITAT Raipur14 Dec 2023AY 2018-19

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

For Appellant: Shri Praveen Khandelwal & PraveenFor Respondent: Shri Debashish Lahiri, CIT-DR

Section 143(2)

…to the Revenue as the respondent being a corporate entity, the rate of tax has remained the same and on this count also, the set off is to be allowed. Mr. Hemani placed reliance on a decision of the Supreme Court in the case of CIT vs. Excel Industries [2013] 358 ITR 295(SC), wherein the following has been observed: “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 licence and the duty entitlement pass book and paid tax thereon. T…

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

In the result ground 2 of the CO

ITA 187/RPR/2023[2017-18]Status: DisposedITAT Raipur14 Dec 2023AY 2017-18

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

For Appellant: Shri Praveen Khandelwal & PraveenFor Respondent: Shri Debashish Lahiri, CIT-DR

Section 143(2)

…to the Revenue as the respondent being a corporate entity, the rate of tax has remained the same and on this count also, the set off is to be allowed. Mr. Hemani placed reliance on a decision of the Supreme Court in the case of CIT vs. Excel Industries [2013] 358 ITR 295(SC), wherein the following has been observed: “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 licence and the duty entitlement pass book and paid tax thereon. T…

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

In the result ground 2 of the CO

ITA 186/RPR/2023[2015-16]Status: DisposedITAT Raipur14 Dec 2023AY 2015-16

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

For Appellant: Shri Praveen Khandelwal & PraveenFor Respondent: Shri Debashish Lahiri, CIT-DR

Section 143(2)

…to the Revenue as the respondent being a corporate entity, the rate of tax has remained the same and on this count also, the set off is to be allowed. Mr. Hemani placed reliance on a decision of the Supreme Court in the case of CIT vs. Excel Industries [2013] 358 ITR 295(SC), wherein the following has been observed: “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 licence and the duty entitlement pass book and paid tax thereon. T…

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

In the result ground 2 of the CO

ITA 185/RPR/2023[2014-15]Status: DisposedITAT Raipur14 Dec 2023AY 2014-15

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

For Appellant: Shri Praveen Khandelwal & PraveenFor Respondent: Shri Debashish Lahiri, CIT-DR

Section 143(2)

…to the Revenue as the respondent being a corporate entity, the rate of tax has remained the same and on this count also, the set off is to be allowed. Mr. Hemani placed reliance on a decision of the Supreme Court in the case of CIT vs. Excel Industries [2013] 358 ITR 295(SC), wherein the following has been observed: “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 licence and the duty entitlement pass book and paid tax thereon. T…

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

In the result ground 2 of the CO

ITA 184/RPR/2023[2013-14]Status: DisposedITAT Raipur14 Dec 2023AY 2013-14

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

For Appellant: Shri Praveen Khandelwal & PraveenFor Respondent: Shri Debashish Lahiri, CIT-DR

Section 143(2)

…to the Revenue as the respondent being a corporate entity, the rate of tax has remained the same and on this count also, the set off is to be allowed. Mr. Hemani placed reliance on a decision of the Supreme Court in the case of CIT vs. Excel Industries [2013] 358 ITR 295(SC), wherein the following has been observed: “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 licence and the duty entitlement pass book and paid tax thereon. T…

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

In the result ground 2 of the CO

ITA 183/RPR/2023[2012-13]Status: DisposedITAT Raipur14 Dec 2023AY 2012-13

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

For Appellant: Shri Praveen Khandelwal & PraveenFor Respondent: Shri Debashish Lahiri, CIT-DR

Section 143(2)

…to the Revenue as the respondent being a corporate entity, the rate of tax has remained the same and on this count also, the set off is to be allowed. Mr. Hemani placed reliance on a decision of the Supreme Court in the case of CIT vs. Excel Industries [2013] 358 ITR 295(SC), wherein the following has been observed: “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 licence and the duty entitlement pass book and paid tax thereon. T…

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

In the result ground 2 of the CO

ITA 182/RPR/2023[2011-12]Status: DisposedITAT Raipur14 Dec 2023AY 2011-12

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

For Appellant: Shri Praveen Khandelwal & PraveenFor Respondent: Shri Debashish Lahiri, CIT-DR

Section 143(2)

…to the Revenue as the respondent being a corporate entity, the rate of tax has remained the same and on this count also, the set off is to be allowed. Mr. Hemani placed reliance on a decision of the Supreme Court in the case of CIT vs. Excel Industries [2013] 358 ITR 295(SC), wherein the following has been observed: “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 licence and the duty entitlement pass book and paid tax thereon. T…

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

In the result ground 2 of the CO

ITA 181/RPR/2023[2010-11]Status: DisposedITAT Raipur14 Dec 2023AY 2010-11

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकरअपीलसं./Ita No.181/Rpr/2023 (Ay-2010-2011) आयकरअपीलसं./Ita No. 182/Rpr/2023 (Ay:2011-2012) आयकरअपीलसं. /Ita No. 183/Rpr/2023(Ay: 2012-2013) आयकरअपीलसं. /Ita No. 184/Rpr/2023(Ay: 2013-2014) आयकरअपीलसं./Ita No. 185/Rpr/2023(Ay: 2014-2015) आयकरअपीलसं./Ita No. 186/Rpr/2023(Ay: 2015-2016) आयकरअपीलसं./Ita No. 187/Rpr/2023(Ay: 2017-2018) आयकरअपीलसं. /Ita No. 188/Rpr/2023(Ay: 2018-2019) Deputy Commissioner Of Income Tax, V Chhattisgarh State Power Distribution Circle-1(1), Raipur S Company Limited, Aayakar Bhawan, Civil Lines, Raipur Vidhyut Seva Bhawan, Daganiya, Raipur Pan: Aadcc6047K & Cross Objection No. 10/Rpr/2023 (2011-12) Cross Objection No. 11/Rpr/2023 (2012-13) Cross Objection No. 12/Rpr/2023 (2014-15) Cross Objection No. 13/Rpr/2023 (2015-16) Cross Objection No. 14/Rpr/2023 (2018-19) Chhattisgarh State Power Distribution V Deputy Commissioner Of Income Tax, Company Limited, Circle-1(1), Raipur S Vidhyut Seva Bhawan, Aayakar Bhawan, Civil Lines, Raipur Daganiya, Raipur Pan: Aadcc6047K (अपीलाथ"/Applicant) (""यथ" / Respondent) : िनधा"रतीक"ओरसे /Assessee By : Shri Praveen Khandelwal & Praveen Goyal, Ca'S राज"वक"ओरसे /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाईक"तार"ख/ Date Of Hearing : 24.11.2023 घोषणाक"तार"ख/Date Of Pronouncement : 14.12.2023

For Appellant: Shri Praveen Khandelwal & PraveenFor Respondent: Shri Debashish Lahiri, CIT-DR

Section 143(2)

…to the Revenue as the respondent being a corporate entity, the rate of tax has remained the same and on this count also, the set off is to be allowed. Mr. Hemani placed reliance on a decision of the Supreme Court in the case of CIT vs. Excel Industries [2013] 358 ITR 295(SC), wherein the following has been observed: “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 licence and the duty entitlement pass book and paid tax thereon. T…

M/S High Range Foods Private Ltd, Kochi vs. ITO Corporate Ward 1(3), Kochi

In the result, the assessee’s appeal is partly allowed

ITA 22/COCH/2023[2015-16]Status: DisposedITAT Cochin11 Dec 2023AY 2015-16

Bench: Shri Sanjay Arora & Shri Manomohan Dashigh Range Foods Pvt. Ltd. The Income Tax Officer 28/3030, Cheruparambath Road Corporate Ward – 1(3) Vs. Kadavanthra, Kochi 682020 Kochi [Pan:Aaach6076L] (Appellant) (Respondent) Assessee By: Shri P.M. Veeramani, Ca Revenue By: Smt. J.M. Jamuna Devi, Sr. D.R. Date Of Hearing: 11.09.2023 Date Of Pronouncement: 11.12.2023 O R D E R Per Sanjay Arora, Am This Appeal By The Assessee Is Directed Against The Order Dated 28.06.2022 By The Commissioner Of Income Tax (Appeals), Nfac, Delhi [Cit(A)], Disallowing The Assessee’S Appeal Contesting It’S Assessment Under Section 143(3) Of The Income Tax Act, 1961 (‘The Act’) Dated 27.12.2017 For Assessment Year (Ay) 2015-16. 2. The Appeal, Filed On 09.01.2023, Is Delayed By 135 Days. The Condonation Petition Accompanying The Appeal, Which Is Supported By A Sworn Affidavit Dated 29.12.2022 By Shri Simon John, The Director & Principal Officer Of The Assessee- Company, Explains The Delay In Terms Of Non-Conveyance Of The Impugned Order Inasmuch As It’S Uploading On The Itba Was Not Accompanied By A Simultaneous Uploading On The Mobile Application As Well As A Real Time Alert Through Sms, As Required By Clause 11 Of The National Faceless Appeal Scheme (Nfas), So That The Order Cannot Be Regarded As Served On 28.6.2022, The Date Of The Impugned Order And

For Appellant: Shri P.M. Veeramani, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R

Section 143(3)Section 41(1)

…R 230 (SC) Turner Morrison & Co. Ltd. v. CIT [1953] 23 ITR 152 (SC) E.D.Sassoon & Co. Ltd. v. CIT[1954] 26 ITR 27 (SC) Morvi Industries Ltd. v. CIT[1971] 82 ITR 835 (SC) R.B. Jodha Mal Kuthiala v. CIT [1971] 82 ITR 570 (SC) CIT v. Excel Industries Ltd. [2013] 358 ITR 295 (SC) The amount having been already received, income arises to that extent; the assessee acquiring a dominion or unqualified right over the same. That the assessee may not have appropriated it as it’s income in it’s accounts is another matter, it being trite that that the passing or, as the case may be, non-passing of accounting entries is not de…

ACIT, Circle-26(2), New Delhi vs. Vital Construction Pvt. Ltd., New Delhi

In the result, the appeal of revenue is dismissed

ITA 70/DEL/2019[2012-13]Status: DisposedITAT Delhi17 Nov 2023AY 2012-13

Bench: Dr. B. R. R. Kumarms. Astha Chandra

For Appellant: Sh. Ajay Bhagwani, CAFor Respondent: Sh. Vivek Vardhan, Sr. DR

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’, NEW DELHI Before Dr. B. R. R. Kumar, Accountant Member Ms. Astha Chandra, Judicial member ITA No. 7726/Del/2018 : Asstt. Year: 2012-13 RMZ Infotech P. Ltd., (Erstwhile M/s. Vs The DCIT, Circle 26(2), New Vital Construction P. Ltd., since merged Delhi 110002 with company) M-11, Middle Circle, Connaught Place, New Delhi 110001 (APPELLANT) (RESPONDENT) PAN No. AAACG 0815 A ITA No. 70/Del/2019 : Asstt. Year: 2012-13 The ACIT, Circle 26(2), New Delhi Vs Vital Construction P. Ltd., 110002 M-11, Middle Circle, Connaught Place, New Delhi 110001 (APPELLANT) (RESPONDENT…

Vital Construction P.Ltd, New Delhi vs. DCIT, Circle-26(2), New Delhi

In the result, the appeal of revenue is dismissed

ITA 7726/DEL/2018[2012-13]Status: DisposedITAT Delhi17 Nov 2023AY 2012-13

Bench: Dr. B. R. R. Kumarms. Astha Chandra

For Appellant: Sh. Ajay Bhagwani, CAFor Respondent: Sh. Vivek Vardhan, Sr. DR

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’, NEW DELHI Before Dr. B. R. R. Kumar, Accountant Member Ms. Astha Chandra, Judicial member ITA No. 7726/Del/2018 : Asstt. Year: 2012-13 RMZ Infotech P. Ltd., (Erstwhile M/s. Vs The DCIT, Circle 26(2), New Vital Construction P. Ltd., since merged Delhi 110002 with company) M-11, Middle Circle, Connaught Place, New Delhi 110001 (APPELLANT) (RESPONDENT) PAN No. AAACG 0815 A ITA No. 70/Del/2019 : Asstt. Year: 2012-13 The ACIT, Circle 26(2), New Delhi Vs Vital Construction P. Ltd., 110002 M-11, Middle Circle, Connaught Place, New Delhi 110001 (APPELLANT) (RESPONDENT…

CIT v. Excel Industries Ltd.

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

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Sections most often in play

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Judgments citing CIT v. Excel Industries Ltd.

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ACIT Circle 5(1)(1), Mumbai vs. M/S Essar Shipping Limited, Mumbai

DCIT Circle-24(2), New Delhi vs. Sunbeam Auto Pvt Ltd., New Delhi

Sunbeam Lightweighting Solutions Pvt Ltd (Formely Sunbeam Auto Pvt Ltd), Gurgaon vs. DCIT Circle-24(2), New Delhi

Indiabullas Housing Finance Limited, Mumbai vs. DCIT, Central Circle-6(4), Mumbai

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

Deputy Commissioner of Income Tax, Circle-1(1), Raipur vs. Chhattisgarh State Power Distribution Company Ltd., Raipur

M/S High Range Foods Private Ltd, Kochi vs. ITO Corporate Ward 1(3), Kochi

ACIT, Circle-26(2), New Delhi vs. Vital Construction Pvt. Ltd., New Delhi

Vital Construction P.Ltd, New Delhi vs. DCIT, Circle-26(2), New Delhi