CIT v. Handicrafts and Handlooms Exports Corporation of India Limited

360 ITR 130High Court2014#8612 most cited
13

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2024.

Issues it is cited on

section 40(1)section 80iabsection 3asection 262section 160section 153(3)section 113section 114section 124section 155deduction under section 80iasection 264

Judgments citing CIT v. Handicrafts and Handlooms Exports Corporation of India Limited

ACIT 3(2)(1), MUMBAI vs. MAHARASHTRA AIRPORT DEVELOPMENT COMPANY LTD, MUMBAI

ITA 798/MUM/2019[2015-16]Status: DisposedITAT Mumbai15 Mar 2024AY 2015-16

Bench: Shri Kuldip Singh & Ms. Padmavathy Sassessment Year: 2008-09 Assessment Year: 2012-13 Assessment Year: 2015-16 M/S. Maharashtra Airport Deputy Commissioner Of Development Company Income Tax, Ltd., Circle (3)(2)(1), 6Th Floor, Room No.608, 6Th Floor, Vs. World Trade Centre, Aayakar Bhawan, Tower No.1, Cuffe Parade, M.K. Road, Mumbai – 400 005 Mumbai - 400020 Pan: Aadcm9623M (Appellant) (Respondent) Assessment Year: 2008-09 Assessment Year: 2012-13 Assessment Year: 2013-14 Assessment Year: 2014-15 Assessment Year: 2015-16 Dy/Asst. Commissioner Of M/S. Maharashtra Airport Income Tax-(3)(2)(1), Development Co. Ltd., Vs. 12Th Floor, Room No.608/674, 6Th Floor, World Trade Centre, Aayakar Bhavan, Tower No.1, Cuffe Parade

For Appellant: Shri Rushabh Mehta, A.RFor Respondent: Smt Sanyogita Nagpal, D.R
Section 80I

…ion ITA No. 19 of 2017 with GA 413 of 2017 in which the grant has been treated has capital receipt. The similar view has been taken by the Delhi High Court in case titled as CIT Vs. Handicrafts and Handlooms Exports Corporation of India Limited cited as (2014)360 ITR 130 (Delhi). The instant case also Maharashtra Government release the grant in favour of assessee for the repairs and maintenance of airports . It is if any capital in nature and is not liable to be considered as revenue in nature. Taking into account all the facts and circumstances and by relying upon the above mentioned law, we are of the view that…

MAHARASHTRA AIRPORT DEVELOPMENT COMPANY LTD.,MUMBAI vs. DCIT-3(2)(1), MUMBAI

ITA 522/MUM/2019[2015-16]Status: DisposedITAT Mumbai15 Mar 2024AY 2015-16

Bench: Shri Kuldip Singh & Ms. Padmavathy Sassessment Year: 2008-09 Assessment Year: 2012-13 Assessment Year: 2015-16 M/S. Maharashtra Airport Deputy Commissioner Of Development Company Income Tax, Ltd., Circle (3)(2)(1), 6Th Floor, Room No.608, 6Th Floor, Vs. World Trade Centre, Aayakar Bhawan, Tower No.1, Cuffe Parade, M.K. Road, Mumbai – 400 005 Mumbai - 400020 Pan: Aadcm9623M (Appellant) (Respondent) Assessment Year: 2008-09 Assessment Year: 2012-13 Assessment Year: 2013-14 Assessment Year: 2014-15 Assessment Year: 2015-16 Dy/Asst. Commissioner Of M/S. Maharashtra Airport Income Tax-(3)(2)(1), Development Co. Ltd., Vs. 12Th Floor, Room No.608/674, 6Th Floor, World Trade Centre, Aayakar Bhavan, Tower No.1, Cuffe Parade

For Appellant: Shri Rushabh Mehta, A.RFor Respondent: Smt Sanyogita Nagpal, D.R
Section 80I

…ion ITA No. 19 of 2017 with GA 413 of 2017 in which the grant has been treated has capital receipt. The similar view has been taken by the Delhi High Court in case titled as CIT Vs. Handicrafts and Handlooms Exports Corporation of India Limited cited as (2014)360 ITR 130 (Delhi). The instant case also Maharashtra Government release the grant in favour of assessee for the repairs and maintenance of airports . It is if any capital in nature and is not liable to be considered as revenue in nature. Taking into account all the facts and circumstances and by relying upon the above mentioned law, we are of the view that…

MAHARASHTRA AIRPORT DEVELOPMENT COMPANY LTD.,MUMBAI vs. ACIT-3(2)(1), MUMBAI

ITA 521/MUM/2019[2088-09]Status: DisposedITAT Mumbai15 Mar 2024AY 2088-09

Bench: Shri Kuldip Singh & Ms. Padmavathy Sassessment Year: 2008-09 Assessment Year: 2012-13 Assessment Year: 2015-16 M/S. Maharashtra Airport Deputy Commissioner Of Development Company Income Tax, Ltd., Circle (3)(2)(1), 6Th Floor, Room No.608, 6Th Floor, Vs. World Trade Centre, Aayakar Bhawan, Tower No.1, Cuffe Parade, M.K. Road, Mumbai – 400 005 Mumbai - 400020 Pan: Aadcm9623M (Appellant) (Respondent) Assessment Year: 2008-09 Assessment Year: 2012-13 Assessment Year: 2013-14 Assessment Year: 2014-15 Assessment Year: 2015-16 Dy/Asst. Commissioner Of M/S. Maharashtra Airport Income Tax-(3)(2)(1), Development Co. Ltd., Vs. 12Th Floor, Room No.608/674, 6Th Floor, World Trade Centre, Aayakar Bhavan, Tower No.1, Cuffe Parade

For Appellant: Shri Rushabh Mehta, A.RFor Respondent: Smt Sanyogita Nagpal, D.R
Section 80I

…ion ITA No. 19 of 2017 with GA 413 of 2017 in which the grant has been treated has capital receipt. The similar view has been taken by the Delhi High Court in case titled as CIT Vs. Handicrafts and Handlooms Exports Corporation of India Limited cited as (2014)360 ITR 130 (Delhi). The instant case also Maharashtra Government release the grant in favour of assessee for the repairs and maintenance of airports . It is if any capital in nature and is not liable to be considered as revenue in nature. Taking into account all the facts and circumstances and by relying upon the above mentioned law, we are of the view that…

ACIT-3(2)(1), MUMBAI vs. MAHARASHTRA AIRPORT DEVELOPMENT COMPANY LTD., MUMBAI

ITA 7498/MUM/2018[2008-09]Status: DisposedITAT Mumbai15 Mar 2024AY 2008-09

Bench: Shri Kuldip Singh & Ms. Padmavathy S

Section 80I

…ion ITA No. 19 of 2017 with GA 413 of 2017 in which the grant has been treated has capital receipt. The similar view has been taken by the Delhi High Court in case titled as CIT Vs. Handicrafts and Handlooms Exports Corporation of India Limited cited as (2014)360 ITR 130 (Delhi). The instant case also Maharashtra Government release the grant in favour of assessee for the repairs and maintenance of airports. It is if any capital in nature and is not liable to be considered as revenue in nature. Taking into account all the facts and circumstances and by relying upon the above mentioned law, we are of the view that…

DCIT 3(2)(1), MUMBAI vs. MAHARASHTRA AIRPORT DEVELOPEMENT CO. LTD, MUMBAI

ITA 7258/MUM/2017[2013-14]Status: DisposedITAT Mumbai15 Mar 2024AY 2013-14

Bench: Shri Kuldip Singh & Ms. Padmavathy S

Section 80I

…ion ITA No. 19 of 2017 with GA 413 of 2017 in which the grant has been treated has capital receipt. The similar view has been taken by the Delhi High Court in case titled as CIT Vs. Handicrafts and Handlooms Exports Corporation of India Limited cited as (2014)360 ITR 130 (Delhi). The instant case also Maharashtra Government release the grant in favour of assessee for the repairs and maintenance of airports. It is if any capital in nature and is not liable to be considered as revenue in nature. Taking into account all the facts and circumstances and by relying upon the above mentioned law, we are of the view that…

DCIT 3(2)(1), MUMBAI vs. MAHARASHTRA AIRPORT DEVELOPEMENT CO. LTD, MUMBAI

ITA 3704/MUM/2017[2012-13]Status: DisposedITAT Mumbai15 Mar 2024AY 2012-13

Bench: Shri Kuldip Singh & Ms. Padmavathy Sassessment Year: 2008-09 Assessment Year: 2012-13 Assessment Year: 2015-16 M/S. Maharashtra Airport Deputy Commissioner Of Development Company Income Tax, Ltd., Circle (3)(2)(1), 6Th Floor, Room No.608, 6Th Floor, Vs. World Trade Centre, Aayakar Bhawan, Tower No.1, Cuffe Parade, M.K. Road, Mumbai – 400 005 Mumbai - 400020 Pan: Aadcm9623M (Appellant) (Respondent) Assessment Year: 2008-09 Assessment Year: 2012-13 Assessment Year: 2013-14 Assessment Year: 2014-15 Assessment Year: 2015-16 Dy/Asst. Commissioner Of M/S. Maharashtra Airport Income Tax-(3)(2)(1), Development Co. Ltd., Vs. 12Th Floor, Room No.608/674, 6Th Floor, World Trade Centre, Aayakar Bhavan, Tower No.1, Cuffe Parade

For Appellant: Shri Rushabh Mehta, A.RFor Respondent: Smt Sanyogita Nagpal, D.R
Section 80I

…ion ITA No. 19 of 2017 with GA 413 of 2017 in which the grant has been treated has capital receipt. The similar view has been taken by the Delhi High Court in case titled as CIT Vs. Handicrafts and Handlooms Exports Corporation of India Limited cited as (2014)360 ITR 130 (Delhi). The instant case also Maharashtra Government release the grant in favour of assessee for the repairs and maintenance of airports . It is if any capital in nature and is not liable to be considered as revenue in nature. Taking into account all the facts and circumstances and by relying upon the above mentioned law, we are of the view that…

MAHARASHTRA AIRPORT DEVELOPMENT COMPANY LTD,MUMBAI vs. DCIT CIR 3(2)(1), MUMBAI

ITA 3682/MUM/2017[2012-13]Status: DisposedITAT Mumbai15 Mar 2024AY 2012-13

Bench: Shri Kuldip Singh & Ms. Padmavathy S

Section 80I

…ion ITA No. 19 of 2017 with GA 413 of 2017 in which the grant has been treated has capital receipt. The similar view has been taken by the Delhi High Court in case titled as CIT Vs. Handicrafts and Handlooms Exports Corporation of India Limited cited as (2014)360 ITR 130 (Delhi). The instant case also Maharashtra Government release the grant in favour of assessee for the repairs and maintenance of airports. It is if any capital in nature and is not liable to be considered as revenue in nature. Taking into account all the facts and circumstances and by relying upon the above mentioned law, we are of the view that…

DCIT CC7 (2), MUMBAI vs. M/S. ANIK INDUSTRIES LTD, MUMBAI

In the result, the appeal filed by the revenue is dismissed

ITA 2267/MUM/2021[2004-05]Status: DisposedITAT Mumbai29 Jul 2022AY 2004-05

Bench: Shri Pramod Kumar & Shri Pavan Kumar Gadaledcit, Cc-7(2) Vs. M/S Anik Industries Ltd Room No. 655, 3Rd Floor, 610, Tulsiani Aayakar Bhavan, Chamber, Nariman Point Mk Road, Mumbai – 400021. Mumbai – 400020. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacm2696K Appellant .. Respondent Appellant By : Smt Shailja Rai.Dr Respondent By : Shri.Bhupendra Shah.Ar Date Of Hearing 26.07.2022 Date Of Pronouncement 28.07.2022 आदेश / O R D E R Per Pavan Kumar Gadale, Jm: The Revenue Has Filed The Appeal Against The Order Passed By The Commissioner Of Income Tax (Appeals) U/S 271(1)(C) & 250 Of The Act. The Revenue Has Raised The Following Grounds Of Appeal:

For Appellant: Smt Shailja Rai.DRFor Respondent: Shri.Bhupendra Shah.AR
Section 143(2)Section 271(1)(c)

…the income tax Act. Commissioner of Income Tax Vs Mahendra & Mahendra Ltd (2018) 33 ITJ 398 (SC) Siemens Public Communication Network Pt Ltd Vs Commissioner of Income Tax (2017) 30 ITJ 117 (SC) CIT Vs Handicraft and Handlooms Exports Corp.of India Ltd (2014) 360 ITR 130 (Delhi HC)……. 5. Finally, the CIT(A) dealt on the facts and relied on the Catena of judicial decisions and directed the Assessing officer to delete penalty and allowed the assessee appeal. Aggrieved by the CIT(A) order, the revenue has filed an appeal before the Honble Tribunal. 6. At the time of hearing, the Ld. DR submitted that the CIT(A) er…

MAHARSHTRA AIRPORT DEVELOPMENT CO. LTD,MUMBAI vs. DCIT CIR 3(2), MUMBAI

In the result, appeal of the assessee is allowed

ITA 5735/MUM/2014[2010-11]Status: DisposedITAT Mumbai23 Aug 2019AY 2010-11

Bench: Shri Mahavir Singh, Jm & Shri M.Balaganesh, Am Maharashtra Airport Vs. Dcit Circle 3(2)(1) Room No.608, 6Th Floor Development Company Ltd., 08Th Floor, World Trade Aayakar Bhavan Centre, Tower No.1 M.K.Road, Cuffe Parade, Mumbai – 400 020 Mumbai – 400 005 Pan/Gir No.Aadcm9623M (Appellant) .. (Respondent)

Section 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH MUMBAI BEFORE SHRI MAHAVIR SINGH, JM & SHRI M.BALAGANESH, AM Maharashtra Airport Vs. DCIT Circle 3(2)(1) Room No.608, 6th Floor Development Company Ltd., 08th Floor, World Trade Aayakar Bhavan Centre, Tower No.1 M.K.Road, Cuffe Parade, Mumbai – 400 020 Mumbai – 400 005 PAN/GIR No.AADCM9623M (Appellant) .. (Respondent) Assessee by Shri Sumit Lalchandani Revenue by Ms. N. Hemalatha Date of Hearing 21/08/2019 Date of Pronouncement 23/08/2019 आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in ITA No.5735/Mum/2014 for A.Y.2010-11 arises out of the order by th…

MAHARASHTRA AIRPORT DEVELOPMENT CO. LTD,MUMBAI vs. DCIT REG 3(2), MUMBAI

In the result, the appeal of the assessee is hereby ordered to be allowed

ITA 3072/MUM/2014[2010-11]Status: DisposedITAT Mumbai19 Jun 2019AY 2010-11

Bench: Shri G. S. Pannu, Vp & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.3072/Mum/2014 (ननधधारण वर्ा / Assessment Years: 2010-11) बनधम/ M/S. Maharashtra Airport Dcit, Range 3(2) Mumbai. Development. Company Vs. Ltd., 8Th Floor, World Trade Centre Tower No.1, Cuffe Parade, Mumbai-400005. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aadcm9623M (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue By: Shri Nishant Samaiya (Dr) Assessee By: Shri Salil Kapoor/ Sumit Lalchandani

For Appellant: Shri Salil Kapoor/ SumitFor Respondent: Shri Nishant Samaiya (DR)
Section 14ASection 271(1)(c)Section 36(1)(iii)Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI G. S. PANNU, VP AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. No.3072/Mum/2014 (ननधधारण वर्ा / Assessment Years: 2010-11) बनधम/ M/s. Maharashtra Airport DCIT, Range 3(2) Mumbai. Development. Company Vs. Ltd., 8th Floor, World Trade Centre Tower No.1, Cuffe Parade, Mumbai-400005. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : AADCM9623M (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue by: Shri Nishant Samaiya (DR) Assessee by: Shri Salil Kapoor/ Sumit Lalchandani सुनवाई की तारीख / Date of Hearing: 17/05/2019 घोषणा की तारीख /Date of Pronouncem…

ACIT, CIRCLE-2(2), KOLKATA, KOLKATA vs. M/S. THE STATE FISHERIES DEVELOPMENT CORPORATION LTD., KOLKATA

Appeal is dismissed

ITA 845/KOL/2017[2008-09]Status: DisposedITAT Kolkata26 Dec 2018AY 2008-09

Bench: Shri S.S.Godara & Shri, M. Balaganeshassessment Year :2008-09 Acit, Circle-2(2), V/S. M/S The State Fisheries Aayakar Bhawan, P-7, Development Corporation Ltd., Bikash Bhawan, 1St Chowringhee Square, Kolkata-700 069 Floor, North Block, Bidhan Nagar, Kolkaa-91 [Pan No.Aabct 2090 D] .. अपीलाथ" /Appellant ""यथ"/Respondent Shri Robin Choudhury, Addl. Cit-Sr-Dr अपीलाथ" क" ओर से/By Appellant Shri Amit Saraf, Fca ""यथ" क" ओर से/By Respondent 04-12-2018 सुनवाई क" तार"ख/Date Of Hearing 26-12-2018 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Revenue’S Appeal For Assessment Year 2008-09 Arises Against The Commissioner Of Income Tax (Appeals)-17,Kolkata’S Order Dated 22.12.2016 Passed In Case No.300/Cit(A)-17/Kol/14-15 Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Parties. Case File Perused. 2. The Revenue’S Sole Substantive Grievance Pleaded In The Instant Appeal Reads That Cit(A) Has Erred In Law As Well As On Facts Thereby Holding That The Assessee’S Impugned Grant-In-Aid Of ₹4.68 Crores Received From Government Of West Bengal Is A Capital Receipt Not Liable To Tax Vide Following Detailed Discussion:- “Decision: This Ground Of The Assessee Is General In Nature, Hence, Not Adjudicated Upon.

Section 143(3)

…l. Vs. The State Fisheries Development Corpn. Ltd. Page 3 shareholder of the assessee company. In our considered view, the ration laid down by the Hon 'ble Delhi High Court in the case of CIT vs Handicrafis and Handlooms Export Corporation of India Ltd (2014) 360 ITR 130 (Del) is applicable to the assessee" From the above observation it appears that the Hon 'ble ITAT had given relief based on the relationship between the Government of West Bengal and assessee being that of shareholder and Company as against the other cases where the relationship was that of Government and Industry. If the Government of West Benga…

M/S THE STATE FISHERIES DEVELOPMENT CORPORATION LTD.,KOLKATA vs. D.C.I.T CIR - 2,KOLKATA., KOLKATA

In the result, assessee’s appeal stands allowed

ITA 165/KOL/2013[2006-07]Status: DisposedITAT Kolkata16 Sept 2016AY 2006-07

Bench: Hon’Ble Shri Waseem Ahmed & Shri K.Narasimha Chary

Section 143(2)Section 143(3)Section 37(1)

…ndustries but it was given by the Government being a sole share holder of the assessee company. In our considered view, the ratio laid down by the Hon’ble Delhi High Court in the case of CIT v. Handicrafts and Handlooms Export Corporation of India Ltd. (2014) 360 ITR 130 (Del) is applicable to the assessee. In our view the contention of the ld. DR that in this case the cash assistance was given by the holding company to the subsidiary company therefore the facts of this case are different from the assessee is not tenable. There is no straight jacket principle to distinguish a capital receipt from a revenue receip…

THE STATE FISHERIES DEVELOPMENT CORPORATION LTD.,KOLKATA vs. ACIT, CIR-2, KOLKATA, KOLKATA

In the result, assessee’s appeal stands partly allowed

ITA 1281/KOL/2009[2005-2006]Status: DisposedITAT Kolkata19 Apr 2016AY 2005-2006

Bench: Shri Mahavir Singh & Shri Waseem Ahmedassessment Year :2005-06

Section 143(3)

…urpose to keep workmen in employment. Therefore it is a capital grant-in-aid and not liable to tax. The assessee has relied in the decision of the Hon’ble Delhi High Court in the case of CIT v. Handicrafts and Handlooms Export Corporation of India Ltd. (2014) 360 ITR 130 (Del). However, Ld.CIT(A) disregarded the submission of the assessee by observing in para-2.3 of his order, which is reproduced below:- “2.3 I have gone through the submission of the assessee. It is an admitted act that grants were received towards salary and PF. It was, therefore, an operational subsidy provided by the State Govt. after setting…