CIT v. GMR Industries Ltd.

425 ITR 504High Court2020#14246 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2021 to 2025.

Judgments citing CIT v. GMR Industries Ltd.

SARA INTERNATIONAL PRIVATE LIMITED,NEW DELHI vs. ACIT CIRCLE 22(1), NEW DELHI

ITA 533/DEL/2024[2016-17]Status: DisposedITAT Delhi06 Aug 2025AY 2016-17

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahman

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Shri Manish Gupta, Sr. DR
Section 115JSection 143(1)Section 143(2)

…ed from profit in terms of any clauses covered by Explanation to Section 115JA and therefore, the same cannot be allowed as deduction in MAT assessment.". 7.4 As per the decision of Hon'ble Karnataka High Court in the case of CIT v. GMR Industries Ltd., [2020]425 ITR 504, wherein it was held that prior period expenses charged to profit and loss account cannot be deducted from the profit of the year for the purpose of computing book profit under Section 115JB of the Act.But in the instant case the appellant had not debited prior period expenses in its P&L account as evident from assessment order and the submission…

MALCO ENERGY LTD.,MUMBAI vs. ASST CIT CIRCLE-10(2)(2), MUMBAI

ITA 7314/MUM/2019[2015-16]Status: DisposedITAT Mumbai13 Sept 2023AY 2015-16

Bench: Shri Prashant Maharishi, Am & Shri Kuldip Singh, Jm Asst. Commissioner Of Income-Tax Malco Energy Limited Circle 10(2)(2), Vedanta House, Room No.209, 75, Nehru Road, Ville- 2Nd Floor, Parle, Vs. Mumbai-400 099 Aaykar Bhavan Maharashtra, India Maharishi Karve Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aahcs6896A Assessee By : Ms. Fereshte Sethna, Shri Mrunal Parekh, Ars Revenue By : Shri Manoj Kumar, Cit Dr

For Appellant: Ms. Fereshte SethnaFor Respondent: Shri Manoj Kumar, CIT DR
Section 115J

…R 591 (cal) } Applying the same analogy if the capital expenditure is debited to the profit and loss account, it is also required to be added back to the book profit U/s 115 J B of The Act. 51. Honourable Karnataka High CourtIn case of GMR Industries Limited 425 ITR 504 {kar} where in it has been held that expenditure incurred for capital expenditure and also the prior period expense debited to profit and loss account , both are required to be added to book profit U/s 115 JB of the Act despite balance sheet and profit and loss account signed by directors and auditors. Malco Energy Ltd.; A.Y.2015-16 52. Before us…

GUJARAT CHEMICAL PORT TERMINAL CO. LTD.,,LAKHIGAM vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA

In the result, assessee’s appeal for AY 2013-14 is partly allowed and for AY

ITA 394/SRT/2018[2013-14]Status: DisposedITAT Ahmedabad05 Aug 2022AY 2013-14

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2013-14 Gujarat Chemical Port Deputy Commissioner Of Terminal Co. Ltd., Vs Income-Tax, Po: Lakhigam, Via Dahej, Tal. Vagra, Circle 1(1)(1), Dist: Bharuch-392130 Vadodara Pan : Aaacg 6861 A Assessment Year : 2013-14 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Gujarat Chemical Port Dy. Commissioner Of Income-Tax, Terminal Co. Ltd., Vs Circle 1(1)(1), Po: Lakhigam, Via Dahej, Tal. Vagra, Vadodara Dist: Bharuch-392130 Pan : Aaacg 6861 A अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Ms. Amrin Pathan, Ca Revenue By : Shri Jamesh Kurian, Cit-Dr & Ms. Pooja Parekh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 26/07/2022 घोषणा क" तार"ख /Date Of Pronouncement: 05/08/2022

For Appellant: Ms. Amrin Pathan, CAFor Respondent: Shri Jamesh Kurian, CIT-DR &
Section 115JSection 143(2)

…nt material available on record. As agreed by the learned representatives of both the sides, this issue is squarely covered in favour of the assessee inter alia by the decision of Hon’ble Karnataka High Court in the case of CIT v . GMR Industries Ltd., [2020] 425 ITR 504, wherein it was held that prior period expenses charged to profit and loss account cannot be deducted from the profit of the year for the purpose of computing book profit under Section 115JB of the Act as the same does not fall within the purview of Section 115JB of the Act. To the similar effect is the decision of Mumbai Bench of this Tribunal i…

M/S. GUJARAT CHEMICALS PORT TERMINAL COMPANY LIMITED,,BARODA vs. THE DCIT, CIRCLE-1(1)(1),, BARODA

In the result, assessee’s appeal for AY 2013-14 is partly allowed and for AY

ITA 2373/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad05 Aug 2022AY 2014-15

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2013-14 Gujarat Chemical Port Deputy Commissioner Of Terminal Co. Ltd., Vs Income-Tax, Po: Lakhigam, Via Dahej, Tal. Vagra, Circle 1(1)(1), Dist: Bharuch-392130 Vadodara Pan : Aaacg 6861 A Assessment Year : 2013-14 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Gujarat Chemical Port Dy. Commissioner Of Income-Tax, Terminal Co. Ltd., Vs Circle 1(1)(1), Po: Lakhigam, Via Dahej, Tal. Vagra, Vadodara Dist: Bharuch-392130 Pan : Aaacg 6861 A अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Ms. Amrin Pathan, Ca Revenue By : Shri Jamesh Kurian, Cit-Dr & Ms. Pooja Parekh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 26/07/2022 घोषणा क" तार"ख /Date Of Pronouncement: 05/08/2022

For Appellant: Ms. Amrin Pathan, CAFor Respondent: Shri Jamesh Kurian, CIT-DR &
Section 115JSection 143(2)

…nt material available on record. As agreed by the learned representatives of both the sides, this issue is squarely covered in favour of the assessee inter alia by the decision of Hon’ble Karnataka High Court in the case of CIT v . GMR Industries Ltd., [2020] 425 ITR 504, wherein it was held that prior period expenses charged to profit and loss account cannot be deducted from the profit of the year for the purpose of computing book profit under Section 115JB of the Act as the same does not fall within the purview of Section 115JB of the Act. To the similar effect is the decision of Mumbai Bench of this Tribunal i…

THE ACIT, CIRCLE-1(1)(1),, BARODA vs. M/S. GUJARAT CHEMICAL PORT TERMINAL CO. LTD.,, BHARUCH

In the result, assessee’s appeal for AY 2013-14 is partly allowed and for AY

ITA 2234/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad05 Aug 2022AY 2014-15

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2013-14 Gujarat Chemical Port Deputy Commissioner Of Terminal Co. Ltd., Vs Income-Tax, Po: Lakhigam, Via Dahej, Tal. Vagra, Circle 1(1)(1), Dist: Bharuch-392130 Vadodara Pan : Aaacg 6861 A Assessment Year : 2013-14 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Gujarat Chemical Port Dy. Commissioner Of Income-Tax, Terminal Co. Ltd., Vs Circle 1(1)(1), Po: Lakhigam, Via Dahej, Tal. Vagra, Vadodara Dist: Bharuch-392130 Pan : Aaacg 6861 A अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Ms. Amrin Pathan, Ca Revenue By : Shri Jamesh Kurian, Cit-Dr & Ms. Pooja Parekh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 26/07/2022 घोषणा क" तार"ख /Date Of Pronouncement: 05/08/2022

For Appellant: Ms. Amrin Pathan, CAFor Respondent: Shri Jamesh Kurian, CIT-DR &
Section 115JSection 143(2)

…nt material available on record. As agreed by the learned representatives of both the sides, this issue is squarely covered in favour of the assessee inter alia by the decision of Hon’ble Karnataka High Court in the case of CIT v . GMR Industries Ltd., [2020] 425 ITR 504, wherein it was held that prior period expenses charged to profit and loss account cannot be deducted from the profit of the year for the purpose of computing book profit under Section 115JB of the Act as the same does not fall within the purview of Section 115JB of the Act. To the similar effect is the decision of Mumbai Bench of this Tribunal i…

THE ACIT, CIRCLE-1(1)(1),, BARODA vs. GUJARAT CHEMICAL PORT TERMINAL COMPANY LTD.,, BHARUCH

In the result, assessee’s appeal for AY 2013-14 is partly allowed and for AY

ITA 1428/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad05 Aug 2022AY 2013-14

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2013-14 Gujarat Chemical Port Deputy Commissioner Of Terminal Co. Ltd., Vs Income-Tax, Po: Lakhigam, Via Dahej, Tal. Vagra, Circle 1(1)(1), Dist: Bharuch-392130 Vadodara Pan : Aaacg 6861 A Assessment Year : 2013-14 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Gujarat Chemical Port Dy. Commissioner Of Income-Tax, Terminal Co. Ltd., Vs Circle 1(1)(1), Po: Lakhigam, Via Dahej, Tal. Vagra, Vadodara Dist: Bharuch-392130 Pan : Aaacg 6861 A अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Ms. Amrin Pathan, Ca Revenue By : Shri Jamesh Kurian, Cit-Dr & Ms. Pooja Parekh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 26/07/2022 घोषणा क" तार"ख /Date Of Pronouncement: 05/08/2022

For Appellant: Ms. Amrin Pathan, CAFor Respondent: Shri Jamesh Kurian, CIT-DR &
Section 115JSection 143(2)

…nt material available on record. As agreed by the learned representatives of both the sides, this issue is squarely covered in favour of the assessee inter alia by the decision of Hon’ble Karnataka High Court in the case of CIT v . GMR Industries Ltd., [2020] 425 ITR 504, wherein it was held that prior period expenses charged to profit and loss account cannot be deducted from the profit of the year for the purpose of computing book profit under Section 115JB of the Act as the same does not fall within the purview of Section 115JB of the Act. To the similar effect is the decision of Mumbai Bench of this Tribunal i…

M/S GOLDEN GATE PROPERTIES LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

In the result, the impugned order passed by the tribunal

ITA/258/2016HC Karnataka04 Mar 2021

Bench: ALOK ARADHE,ASHOK S.KINAGI

Section 115JSection 143(1)Section 260Section 260ASection 5Section 80I

…ond substantial question of law in favour of the assessee and against the revenue. In the result, the impugned order passed by the tribunal dated 29.12.2015 is quashed. We may clarify that 14 decision of this court in CIT VS. GMR INDUSTRIES LTD. (2020) 425 ITR 504 (KAR.) was rendered in the peculiar facts of that case. Needless to state that it will be open for the parties to raise all contentions as are admissible to them in law. Therefore, it is not necessary for us to answer the remaining substantial questions of law. In the result, appeal is disposed of. Sd/- JUDGE Sd/- JUDGE ss…

CIT v. GMR Industries Ltd. (425 ITR 504) — Cited in 7 Judgments | BharatTax