CIT v. Goetze (India) Ltd.

361 ITR 505High Court2014#864 most cited

What is CIT v. Goetze (India) Ltd. authority for?

Disallowance under Section 14A for expenses relating to exempt income is required while computing book profit under Section 115JB. An Assessing Officer's order is erroneous for revision under Section 263 if the view taken was not plausible, legally unsustainable, and incorrect, requiring a recorded finding.

121

judgments rely on this decision, according to BharatTax’s citation analysis of 366,459 Indian tax judgments — from 2015 to 2026.

Also referred to as

Goetze India Ltd · CIT v Goetze (India) Ltd · Section 14A · Section 115JB · book profit computation · MAT disallowance · Section 263 · erroneous assessment · revision power · Delhi High Court

Also reported as

44 Taxmann.com 138225 Taxmann 133

Sections most often in play

Section 143(3)Section 14ASection 263Section 115JBSection 37(1)Section 8DSection 142(1)Section 143(2)
Read the full judgment

Issues it is cited on

minimum alternate taxinadequate enquirysection 10(33)section 115jaresulting companysection 115jb(2)scheme of arrangementlack of enquirymalabar industrialgoing concernamalgamationrevision u/s 263

Judgments citing CIT v. Goetze (India) Ltd.

Srei Infrastructure Finance Ltd

The appeal is dismissed

ITA/371/2012HC Delhi13 Feb 2015
Section 260ASection 32

…‖ 2015:DHC:1459-DB ITA Nos. 371/2012 & 372/2012 Page 12 of 24 13. As noticed by this Court in Commissioner of Income Tax (Central- II) Vs. Goetze (India) Limited [2014] 361 ITR 505 (Del), Sub-section (1) to Section 115JB of the Act begins with a non obstante expression, which gives an overriding effect to the said section. Sub-section (2) states that every assessee being a company shall prepare a Profit and Loss account for the previous year in accordance with the provisions of Part II and III of Schedule VI of the Co…