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 366,005 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.

ACIT., Central Circle-2(2), Hyderabad vs. Kmc Constructions Ltd, Hyderabad

In the result, both the appeals filed by the Revenue, i

ITA 730/HYD/2025[2018-19]Status: DisposedITAT Hyderabad10 Oct 2025AY 2018-19

Bench: Us.

Section 80Section 80I

…this healthy rule is not followed, the result will only be undue harassment to assessees and chaos in administration of tax laws.” Further, the Hon’ble Supreme Court in Radhasoami Satsang vs. CIT (1992) 193 ITR 321 (SC) and CIT v. Excel Industries Ltd. (2013) 358 ITR 295 (SC) has emphasized the principle of M/s KMC Constructions Ltd. consistency in tax matters. In the present case, since the issue has already been settled in favour of the assessee company by the Tribunal in earlier years on identical facts, there is no reason for us to take a different view. 16. Before parting, we may herein observe that in res…

Jayaram Reddy Boopesh Reddy, Bengaluru vs. Deputy Commissioner of Income Tax, Central Circle-2(4), Bengaluru

In the result the appeal of the assessee is hereby partly allowed for statistical purposes

ITA 711/BANG/2025[2021-22]Status: DisposedITAT Bangalore09 Oct 2025AY 2021-22

Bench: Shri Narender Kumar Chodhry & Shri Waseem Ahmed

For Appellant: Shri Bharat, CAFor Respondent: Shri Shivanad Kalakeri, CIT (DR)
Section 132Section 132(4)Section 153A

…that claim of the assessee should be allowed on the basis of principles of consistency. In this regard we find support and guidance from the judgment of Hon'ble Supreme Court in the case of CIT v. Excel Industries Ltd. [2013] 38 taxmann.com 100/219 Taxman 379/358 ITR 295 wherein it was held as under: 13.4 Thirdly, we also note that in the case of the assessee’s sister concern, identical claims of depreciation on similar cars were accepted . ITA No.705 - 711/Bang/2025 Page 18 of 36 by the Department. This further strengthens the assessee’s contention that such expenditure is in the normal course of his busines…

Jayarama Reddy Boopesh Reddy, Bengaluru vs. Deputy Commissioner of Income Tax, Central Circle 2(4), Bengaluru

ITA 706/BANG/2025[2014-15]Status: DisposedITAT Bangalore09 Oct 2025AY 2014-15

Bench: Shri Narender Kumar Chodhry & Shri Waseem Ahmed

For Appellant: Shri Bharat, CAFor Respondent: Shri Shivanad Kalakeri, CIT (DR)
Section 132Section 132(4)Section 153A

…that claim of the assessee should be allowed on the basis of principles of consistency. In this regard we find support and guidance from the judgment of Hon'ble Supreme Court in the case of CIT v. Excel Industries Ltd. [2013] 38 taxmann.com 100/219 Taxman 379/358 ITR 295 wherein it was held as under: 13.4 Thirdly, we also note that in the case of the assessee's sister concern, identical claims of depreciation on similar cars were accepted by the Department. This further strengthens the assessee's contention that such expenditure is in the normal course of his business promotion and not for personal purposes. 13.5…

Bysani Srinath Mamatha, Bengaluru vs. Joint Commissioner of Income Tax (OSD), Central Circle-1(3), Bengaluru

In the result, the appeals of the assessee for

ITA 410/BANG/2025[2018-19]Status: DisposedITAT Bangalore09 Oct 2025AY 2018-19

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Shri Bharadwaj Sheshadri, CA &For Respondent: Shri Shivanad Kalakeri, CIT (DR)
Section 131Section 132Section 132(4)Section 153A

…i, solvendum in futuro. Unless and until there is created in favour of the assessee a debt due by somebody it cannot be said that he has acquired a right to receive the income or that income has accrued to him. 12.5 Similarly, in CIT v. Excel Industries Ltd. (358 ITR 295, SC), it was reiterated that hypothetical or contingent income cannot be brought to tax. Where even the principal of the alleged loans has not been received back, there can be no enforceable right to receive interest. We also note that the AO computed interest by compounding every three months on the loose sheet totals, but such working is entire…

Bysani Srinath Mamatha, Bengaluru vs. Joint Commissioner of Income Tax (OSD) Central Circle-1(3), Bengaluru

In the result, the appeals of the assessee for Assessment Years

ITA 407/BANG/2025[2015-16]Status: DisposedITAT Bangalore09 Oct 2025AY 2015-16

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Shri Bharadwaj Sheshadri, CA &For Respondent: Shri Shivanad Kalakeri, CIT (DR)
Section 131Section 132Section 132(4)Section 153A

…, solvendum in futuro. Unless and until there is created in favour of the assessee a debt due by somebody it cannot be said that he has acquired a right to receive the income or that income has accrued to him. 12.5 Similarly, in CIT v. Excel Industries Ltd. (358 ITR 295, SC), it was reiterated that hypothetical or contingent income cannot be brought to tax. Where even the principal of the alleged loans has not been received back, there can be no enforceable right to receive interest. We also note that the AO computed interest by compounding every three months on the loose sheet totals, but such working is entire…

Bysani Adinarayaguptha Srinath, Bengaluru vs. Joint Commissioner of Income Tax (OSD), Central Circle-1(3), Bengaluru

In the result, the appeals of the assessee for Assessment Years

ITA 402/BANG/2025[2016-17]Status: DisposedITAT Bangalore09 Oct 2025AY 2016-17

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Shri Bharadwaj Sheshadri, CA &For Respondent: Shri Shivanad Kalakeri, CIT (DR)
Section 131Section 132Section 132(4)Section 153A

…, solvendum in futuro. Unless and until there is created in favour of the assessee a debt due by somebody it cannot be said that he has acquired a right to receive the income or that income has accrued to him. 12.5 Similarly, in CIT v. Excel Industries Ltd. (358 ITR 295, SC), it was reiterated that hypothetical or contingent income cannot be brought to tax. Where even the principal of the alleged loans has not been received back, there can be no enforceable right to receive interest. We also note that the AO computed interest by compounding every three months on the loose sheet totals, but such working is entire…

Dy. Commissioner of Income Tax (Exemptions), Circle, Pune, Swargate vs. Shri Mukund Bhavan Trust, Pune

In the result, the appeal of the Revenue is dismissed

ITA 829/PUN/2025[2017-2018]Status: DisposedITAT Pune08 Oct 2025AY 2017-2018

Bench: Shri Manish Borad & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.829 & 827/Pun/2025 धििाारण वर्ा / Assessment Years : 2017-18 & 2018-19 Dy. Commissioner Of Shri Mukund Bhavan Trust, Income Tax (Exemptions), 1105, Ravivar Peth, Pune-411002 Cirlce – Pune Vs. Pan : Aaats5170R अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assesseeby : Shri V.L. Jain Department By : Shri Amol Khairnar Date Of Hearing : 24-07-2025 Date Of 08-10-2025 Pronouncement :

For Appellant: Shri V.L. JainFor Respondent: Shri Amol Khairnar
Section 11Section 12ASection 13Section 13(1)Section 13(1)(c)Section 13(2)(b)Section 13(3)Section 143(2)Section 3

…ry to what had been decided AYs 2017-18 & 2018-19 by the Commissioner of Income Tax in the earlier proceedings, a different and contradictory stand should have been taken". 31. We find the Hon'ble Supreme Court in the case of Excel Industries Ltd reported in 358 ITR 295 (SC) has observed that "the Revenue cannot be allowed to flip-flop on the issue and it ought let the matter rest rather than spend the tax payers' money in pursuing litigation for the sake of it.” 32. In view of the above discussion, we hold that the Ld. CIT(E) is not justified in cancelling the registration on the ground that the trust is create…

Dy. Commissioner of Income Tax (Exemptions), Circle, Pune, Swargate vs. Shri Mukund Bhavan Trust, Pune

In the result, the appeal of the Revenue is dismissed

ITA 827/PUN/2025[2018-2019]Status: DisposedITAT Pune08 Oct 2025AY 2018-2019

Bench: Shri Manish Borad & Ms. Astha Chandraआयकर अपील सं. / Ita Nos.829 & 827/Pun/2025 धििाारण वर्ा / Assessment Years : 2017-18 & 2018-19 Dy. Commissioner Of Shri Mukund Bhavan Trust, Income Tax (Exemptions), 1105, Ravivar Peth, Pune-411002 Cirlce – Pune Vs. Pan : Aaats5170R अपीलार्थी / Appellant प्रत्यर्थी / Respondent Assesseeby : Shri V.L. Jain Department By : Shri Amol Khairnar Date Of Hearing : 24-07-2025 Date Of 08-10-2025 Pronouncement :

For Appellant: Shri V.L. JainFor Respondent: Shri Amol Khairnar
Section 11Section 12ASection 13Section 13(1)Section 13(1)(c)Section 13(2)(b)Section 13(3)Section 143(2)Section 3

…ry to what had been decided AYs 2017-18 & 2018-19 by the Commissioner of Income Tax in the earlier proceedings, a different and contradictory stand should have been taken". 31. We find the Hon'ble Supreme Court in the case of Excel Industries Ltd reported in 358 ITR 295 (SC) has observed that "the Revenue cannot be allowed to flip-flop on the issue and it ought let the matter rest rather than spend the tax payers' money in pursuing litigation for the sake of it.” 32. In view of the above discussion, we hold that the Ld. CIT(E) is not justified in cancelling the registration on the ground that the trust is create…

Maruti Suzuki India Ltd., New Delhi vs. DCIT, New Delhi

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

ITA 901/DEL/2017[2012-13]Status: DisposedITAT Delhi08 Oct 2025AY 2012-13

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department
Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

…ncome-tax proceedings, the Courts have emphasized there must be consistency in the position that the Revenue takes on an issue in different assessment years. Reliance in this regard is placed on 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. Dalmia Promoters Developers (P) Ltd: 200 CTR 426 (Del.)  Escorts Cardiac Diseases Hospital: 300 ITR 75 (Del) Reliance in this regard is also placed on following decisions whe…

DCIT, New Delhi vs. M/S. Maruti Suzuki India Ltd., New Delhi

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

ITA 1024/DEL/2016[2011-12]Status: DisposedITAT Delhi08 Oct 2025AY 2011-12

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department
Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

…ncome-tax proceedings, the Courts have emphasized there must be consistency in the position that the Revenue takes on an issue in different assessment years. Reliance in this regard is placed on 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. Dalmia Promoters Developers (P) Ltd: 200 CTR 426 (Del.)  Escorts Cardiac Diseases Hospital: 300 ITR 75 (Del) Reliance in this regard is also placed on following decisions whe…

Om Prakash Gupta, Sawai Madhopur vs. DCIT Central Circle -1, Jaipur

The appeals of the assessee are disposed off as under :

ITA 399/JPR/2025[2017-18]Status: DisposedITAT Jaipur18 Sept 2025AY 2017-18
For Appellant: Shri Tarun Mittal, CA &For Respondent: Shri Rajesh Ojha, CIT-DR &
Section 115BSection 153ASection 69

…आयकर अपीलिय अधिकरण, जयपुर न्यायपीठ, जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”A” JAIPUR डा० एस. सीतललक्ष्मी, न्यायिक सदस्य एवं श्री राठौड कमलेश जयंतभाई, लेखा सदस्य के समक्ष BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील सं./ ITA Nos.395 to 401/JP/2025 निर्धारण वर्ष / Assessment Years : 2013-14 to 2019-20 Om Prakash Gupta Vs. DCIT, Central Circle-01, Jaipur स्थायी लेखा सं./ जीआईएस सं./ PAN/GIR No.: ABNPG3260C निर्यारचती की ओर से / Assessee by : Shri Tarun Mittal, CA & Shri Harshit Agarwal, CA, राजस्व की ओर से / Revenue by : Shri Rajesh Ojha, CIT-DR & Mrs. Anit…

Neovantage Bio-Technology Private Limited, Hyderabad vs. ACIT., Circle 5(1), Hyderabad

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

ITA 924/HYD/2024[2020-21]Status: DisposedITAT Hyderabad10 Sept 2025AY 2020-21

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Respondent: Dr. Narendra Kumar Naik
Section 143(2)Section 143(3)Section 144C(5)Section 14ASection 92C

…r submitted that the advance to MN Science was a strategic investment aimed at securing long-term business advantages, and there was no stipulation for charging of interest. Relying on the decision of the Hon’ble Supreme Court in CIT v. Excel Industries Ltd. (358 ITR 295), it was submitted that income cannot be taxed on a hypothetical basis unless there is a real accrual of income in the hands of the assessee and obligation to pay the same on the part of MN Science. Further reliance was placed on CIT Vs. Dalmia Cement Pvt. Ltd. (254 ITR 377), wherein it was held that commercial expediency lies within the domain o…

Neovantage Innovation Park Private Limited, Hyderabad vs. Income-Tax Officer, Ward 16(3), Hyderabad

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

ITA 923/HYD/2024[2020-21]Status: DisposedITAT Hyderabad10 Sept 2025AY 2020-21

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Respondent: Dr. Narendra Kumar Naik
Section 143(2)Section 143(3)Section 144C(5)Section 14ASection 92C

…r submitted that the advance to MN Science was a strategic investment aimed at securing long-term business advantages, and there was no stipulation for charging of interest. Relying on the decision of the Hon’ble Supreme Court in CIT v. Excel Industries Ltd. (358 ITR 295), it was submitted that income cannot be taxed on a hypothetical basis unless there is a real accrual of income in the hands of the assessee and obligation to pay the same on the part of MN Science. Further reliance was placed on CIT Vs. Dalmia Cement Pvt. Ltd. (254 ITR 377), wherein it was held that commercial expediency lies within the domain o…

Devi Dayal, Kaithal vs. Income Tax Officer, Ward-1, Kaithal

In the result, appeal is allowed

ITA 899/CHANDI/2024[2008-09]Status: DisposedITAT Chandigarh08 Sept 2025AY 2008-09

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 899/Chd/2024 "नधा"रण वष" / Assessment Year: 2008-09 Shri Devi Dayal, Vs The Ito, Pundri Anaj Mandi, Ward – 1, Kaithal-Haryana 136026. Kaithal. "थायी लेखा सं./Pan No: Aajpd5851H अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Parikshit Aggarwal, Ca & Ms. Shruti Khandelwal, Advocate Revenue By : Shri Manav Bansal, Cit, Dr Date Of Hearing : 30.07.2025 Date Of Pronouncement : 08.09.2025

For Appellant: Shri Parikshit Aggarwal, CA and Ms. Shruti Khandelwal, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR
Section 249Section 253Section 3Section 5

…8 at p. 522 and 527]. Unless and until there is created in favour of the assessee a debt due by somebody it cannot be said that he has acquired a right to receive the income or that income has accrued to him." 26. This Court, in CIT v. Excel Industries f20131 358 ITR 295/219 Taxman 379/38 taxmann.com 100 (SC). at 463-464 referred to various judgments on the expression "accrues", and then held: '14. First of all, it is now well settled that income tax cannot be levied on hypothetical income. In CITv. Shoorji Vallabhdas and Co. [CITv. Shoorji Vallabhdas and Co., (1962) 46 ITR 144 ( S O ] it was held as follows: (IT…

Future First Info Services Private Ltd., Delhi vs. AO Circle-7(1), Delhi

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

ITA 672/DEL/2022[2017-18]Status: DisposedITAT Delhi29 Aug 2025AY 2017-18

Bench: Shri Yogesh Kumar U.S. & Shri Avdhesh Kumar Mishra

Section 143(3)Section 270ASection 92D

…characterized as a high-end KPO as it was engaged in performing back-office support functions. The Ld. AR placing reliance on the following decisions, prayed for upholding the rule of consistency:  Radhasoami Satsang (193 ITR 321),  Excel Industries Limited 358 ITR 295,  Berger Paints India Ltd. (266 ITR 99),  Union of India Vs. Kaumudini Narayan Dalal & Other (249 ITR 219),  Brintons Carpets Asia P Ltd. (ITA No.1296/PN/10)  Management Structure & Systems (2010) 41 DTR 426)  Bengal Tiger Line Pte. Ltd. [2020] 121 taxmann.com 165 (Chennai Trib.) 4.2 The Ld. AR further contended that the services provided b…

DCIT, Central Circle-15, Delhi, New Delhi vs. Gdg Educational Trust, Haryana

ITA 266/DEL/2024[2014-15]Status: DisposedITAT Delhi28 Aug 2025AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 12ASection 143(2)Section 143(3)Section 250

…ld have been allowed to the assessee as has been allowed to it in earlier years as there is no change in the facts and circumstances during the year pointed out by the assessing officer. The Hon'ble Supreme Court in case of CIT v. Excel Industries Ltd. (2013) 358 ITR 295 has held that it was not appropriate to allow reconsideration of an issue for a subsequent assessment year if the same "fundamental aspect" permeates in different assessment years. In view of the above, considering the fact that the same amount of rent payment was accepted by the AO in the previous assessment year, the disallowance of rent expen…

ACIT, Jhandewalan vs. M/S Mankind Pharma Ltd. (Earlier Known As M/S Magnet Labs Pvt. Ltd.), New Delhi

Accordingly, the appeal of assesse is allowed and of revenue dismissed

ITA 5141/DEL/2024[2017-18]Status: DisposedITAT Delhi27 Aug 2025AY 2017-18

Bench: Shri S. Rifaur Rahman & Shri Anubhav Sharmaassessment Year: 2017-18 Acit, Vs M/S Mankind Pharma Ltd. (Earlier Circle-16(1), Known As M/S Magnet Labs Pvt. Delhi. Ltd.), 208, Okhla Industrial Estate Phase-3, Delhi – 110 020. Pan: Aaccm1861C Assessment Year: 2017-18 M/S Mankind Pharma Ltd. Vs. Acit, (Earlier Known As M/S Magnet Circle-16(1), Labs Pvt. Ltd.), Delhi 208, Okhla Industrial Estate Phase-3, Delhi – 110 020. Pan: Aaccm1861C (Appellant) (Respondent) Assessee By : Shri Gaurav Jain, Advocate & Shri Rahul Prabhakar, Advocate Revenue By : Shri Vipul Kashyap, Sr. Dr Date Of Hearing : 05.08.2025 Date Of Pronouncement : 27.08.2025 Order Per Anubhav Sharma, Jm: These Are Cross Appeals Preferred By The Revenue & The Assessee Against The Order Dated 08.08.2024 Of The Commissioner Of Income-Tax (Appeals)-30

For Appellant: Shri Gaurav Jain, Advocate &For Respondent: Shri Vipul Kashyap, Sr. DR
Section 143(3)

…re us at page no. 651 to 661 of the APB. The settled position of law is that the Revenue should not dispute the consistent treatment followed by the assesse. Reliance can be placed on following decisions relied by the ld. AR; i. CIT vs. Excel Industries Ltd. [358 ITR 295 (SC)]; ii. Radhasoami Satsang vs. CIT [193 ITR 321 (SC)]; iii. CIT Vs. Kotak Securities Ltd. [2016] 67 taxmann.com 356 (SC); iv. CIT Vs. Neo Polypack (P) Ltd., 245 ITR 492 (Delhi); v. CIT Vs. Alstom Projects India Ltd., 394 ITR 141 (Bombay); 10. Then we are of considered view that given the nature of expenses incurred by the employees, at the ti…

Mankind Pharma Limited (As Successor of Magnet Labs Pvt. Ltd.), New Delhi vs. DCIT Circle 16(1) Delhi, Delhi

Accordingly, the appeal of assesse is allowed and of revenue dismissed

ITA 4654/DEL/2024[2017-18]Status: DisposedITAT Delhi27 Aug 2025AY 2017-18

Bench: Shri S. Rifaur Rahman & Shri Anubhav Sharmaassessment Year: 2017-18 Acit, Vs M/S Mankind Pharma Ltd. (Earlier Circle-16(1), Known As M/S Magnet Labs Pvt. Delhi. Ltd.), 208, Okhla Industrial Estate Phase-3, Delhi – 110 020. Pan: Aaccm1861C Assessment Year: 2017-18 M/S Mankind Pharma Ltd. Vs. Acit, (Earlier Known As M/S Magnet Circle-16(1), Labs Pvt. Ltd.), Delhi 208, Okhla Industrial Estate Phase-3, Delhi – 110 020. Pan: Aaccm1861C (Appellant) (Respondent) Assessee By : Shri Gaurav Jain, Advocate & Shri Rahul Prabhakar, Advocate Revenue By : Shri Vipul Kashyap, Sr. Dr Date Of Hearing : 05.08.2025 Date Of Pronouncement : 27.08.2025 Order Per Anubhav Sharma, Jm: These Are Cross Appeals Preferred By The Revenue & The Assessee Against The Order Dated 08.08.2024 Of The Commissioner Of Income-Tax (Appeals)-30

For Appellant: Shri Gaurav Jain, Advocate &For Respondent: Shri Vipul Kashyap, Sr. DR
Section 143(3)

…re us at page no. 651 to 661 of the APB. The settled position of law is that the Revenue should not dispute the consistent treatment followed by the assesse. Reliance can be placed on following decisions relied by the ld. AR; i. CIT vs. Excel Industries Ltd. [358 ITR 295 (SC)]; ii. Radhasoami Satsang vs. CIT [193 ITR 321 (SC)]; iii. CIT Vs. Kotak Securities Ltd. [2016] 67 taxmann.com 356 (SC); iv. CIT Vs. Neo Polypack (P) Ltd., 245 ITR 492 (Delhi); v. CIT Vs. Alstom Projects India Ltd., 394 ITR 141 (Bombay); 10. Then we are of considered view that given the nature of expenses incurred by the employees, at the ti…

Addl CIT Ltu, Mumbai vs. Bajaj Holding & Investment Ltd ( Foremerly Known As Bajaj Auto Ltd), Mumbai

In the result, appeal filed by the revenue is dismissed and appeal filed by the assessee stands partly allowed as indicated hereinabove

ITA 5510/MUM/2012[2007-08]Status: DisposedITAT Mumbai26 Aug 2025AY 2007-08

Bench: Smt. Beena Pillai () & Shri Renu Jauhri ()

Section 14ASection 80

…5652/Mum/2012; 42 A.Y. 2007-08 Bajaj Holding & Investment Ltd. (Formerly Known as Bajaj Auto Ltd.) c) ITATAY 2004-05 (ITA No. 6838/Mum/2008, d) ITATAY 2003-04 (ITA No. 1496/Mum/2007, e) ITATAY 2002-03 (ITA No. 3043/Mum/2010, f) Excel Industries Limited [2013] 358 ITR 295 (SC) g) United, Phosphorous Ltd ITA No. 1866 of 2013 (HC)” 17.2. On the contrary the Ld. DR relied on the order passed by authorities below. We have perused the submission advanced in both sides in the light of records placed before us. 17.3 It is noted that this Tribunal in preceding assessment years decided the issue by observing as under: “10.…

ACIT Circle 25(1), Delhi vs. Tata Teleservices Ltd., Delhi

Accordingly, this issue is raised in grounds of appeal No.4 of the Revenue in all these years is dismissed

ITA 17/DEL/2022[2016-17]Status: DisposedITAT Delhi26 Aug 2025AY 2016-17

Bench: Shri Vikas Awasthy & Shri Manish Agarwalita No.5665/Del/2019 (Assessment Year 2012-13)

Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA No.5665/Del/2019 (ASSESSMENT YEAR 2012-13) ITA No.5667/Del/2019 (ASSESSMENT YEAR 2014-15) Tata Teleservices Limited, ACIT, (Sanjay Chopra) Circle-25(1), A-37, Sector-60, Vs. New Delhi. Noida-201301, (U.P.) PAN-AAACT2438A (Appellant) (Respondent) ITA No.5925/Del/2019 (ASSESSMENT YEAR 2013-14) ITA No.5927/Del/2019 (ASSESSMENT YEAR 2015-16) 2 ITA No.4150 /Del/2017 & Ors. Tata Teleservices Ltd. vs. ACIT DCIT, Tata Teleservices Circle-25(1), Limited, New…