CIT v. HCL Comnet Systems & Services Ltd.

305 ITR 409Supreme Court of India2008#901 most cited

What is CIT v. HCL Comnet Systems & Services Ltd. authority for?

For computing book profits under Section 115JB, an Assessing Officer's power is limited to examining duly certified books and making adjustments only as per the Explanation. A provision for bad and doubtful debts, being a diminution in the value of an asset (receivable), does not constitute a 'provision for liability' under Clause (c) of the Explanation and therefore cannot be added back.

118

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2010 to 2026.

Also referred to as

CIT v. HCL Comnet Systems & Services Ltd. · 305 ITR 409 · Section 115JB · Section 115JA · book profit calculation · provision for bad and doubtful debts · MAT adjustments · Assessing Officer jurisdiction · provision for liability · Explanation to Section 115JB(2) · diminution in asset value

Also reported as

174 Taxmann 118

Sections most often in play

Section 115JBSection 143(3)Section 14ASection 36(1)(vii)Section 135Section 194HSection 40(a)(ia)Section 115JA
Read the full judgment

Issues it is cited on

section 226section 115jasection 211section 14a(1)section 135section 115jb(2)explanation to section 37book profitsperiod of holdingsection 114section 115jsection 80hhc

Judgments citing CIT v. HCL Comnet Systems & Services Ltd.

ACIT, Circle-19(2), New Delhi vs. Pasupati Acrylon Ltd, New Delhi

In the result, the appeal of the assessee is partly allowed for statistical purposes and that of the Revenue is dismissed

ITA 8200/DEL/2018[2015-16]Status: DisposedITAT Delhi21 Dec 2021AY 2015-16

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

For Appellant: Shri Anil Gandhi, Sr. D.RFor Respondent: Shri Suresh Gupta, C.A
Section 115J

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “F” : NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER ITA No.8200/Del./2018 Assessment Year 2015-16 The ACIT, M/s. Pasupati Acrylon Circle – 19 (2), Limited, M-14, Connaught vs., Room No.221, C.R. Circus, Middle Circle, New Building, I.P. Estate, Delhi – 110 001. New Delhi - 110002 (Appellant) (Respondent) For Revenue : Shri Suresh Gupta, C.A. For Assessee : Shri Anil Gandhi, Sr. D.R. Date of Hearing : 09.12.2021 Date of Pronouncement : 21.12.2021 ORDER PER R.K. PANDA, A.M. This appeal filed by the Revenue is dir…

Torrent Power Ltd., Ahmedabad vs. The ACIT., Range-8, Ahmedabad

In the result cross objection filed by the assessee is partly allowed for statistical purposes

ITA 776/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad08 Dec 2021AY 2008-09

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri S.N. Soparkar, Sr. AdvocateFor Respondent: Shri Vinod Tanwani, CIT.D.R
Section 143(3)Section 254

…5 lacs credited to the profit and loss account on account of reversal of the provisions for the bad debts under section 115JB of the Act in the given facts and circumstances. The Supreme Court in CIT v. HCL Comnet Systems & Services Ltd. [2008] 174 Taxman 118/305 ITR 409 (SC) held that provisions for bad and doubtful debts cannot be added under Explanation to Section 115JB of the Act. In order to ensure that provision for bad and doubtful debts debited to profit and loss account, is increased to the net profit for the purposes of computation of book profit under section 115JB of the Act, clause (i) in Explanation…

DCIT, Circle - 3(1), Kolkata vs. M/S. Sppl Property Management Pvt. Ltd., Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 2074/KOL/2019[2009-10]Status: DisposedITAT Kolkata30 Jul 2021AY 2009-10

Bench: Shri A. T. Varkey, Hon’Ble & Dr. M. L. Meena, Hon’Ble]

Section 115JSection 143(3)

…nt, the Hon'ble High Court has considered the following judgments: 10 M/s SPPL Property Management Pvt. Ltd., AY 2009-10 i. CIT v. Deepak Nitrite Ltd. [Tax Appeal o. 1918 of 2009, dated 17-8-2011] (para 4) ii. CIT v. HCL Comnet Systems & Services Ltd. (2008) 305 ITR 409/174 Taxman 118 (SC) iii. CIT v. Indian Petrochemicals Corpn. Ltd. [2016] 74 taxmann.com 163 (Guj.) (para 4), iv. CIT v. Yokogawa India Ltd. [2012] 17 taxmann.com 151204 Taxman 305 (Kar.) (para 4), v. CIT v. Kirloskar Systems Ltd. [2013] 40 taxmann.com 124/[2014] 220 Taxman 1 CKar.) (para 4), vi. Vijaya Bank v. CIT [2010] 323 ITR 166/190 Taxman 25…

DCIT, New Delhi vs. M/S. Central Warehousing Corp., New Delhi

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

ITA 5784/DEL/2014[2010-11]Status: DisposedITAT Delhi31 May 2021AY 2010-11

Bench: Shri O.P. Kant, Accountantmember & Shri K.N. Chary[Through Video Conferencing]

Section 139(5)Section 143(1)Section 36

…same as ascertained liability while adjudicating additions under regular provisions of the Act. The addition for provision of bad and doubtful debt was deleted following the decision of the Hon’ble Supreme Court in the case of HCL Comnet Systems and Services 305 ITR 409 (SC). 17.2 The Learned DR submitted that the liabilities being unascertained, the Ld AO has correctly added the items to the profit as per books of accounts for arriving at book profit as per the provisions of section 115JB read with explanation 1(c) of the Act. 17.3 The Learned Counsel of the assessee relied on the order of the Learned CIT(A) an…

DCIT, New Delhi vs. M/S. Central Warehousing Corp., New Delhi

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

ITA 3440/DEL/2014[2008-09]Status: DisposedITAT Delhi31 May 2021AY 2008-09

Bench: Shri O.P. Kant, Accountantmember & Shri K.N. Chary[Through Video Conferencing]

Section 139(5)Section 143(1)Section 36

…same as ascertained liability while adjudicating additions under regular provisions of the Act. The addition for provision of bad and doubtful debt was deleted following the decision of the Hon’ble Supreme Court in the case of HCL Comnet Systems and Services 305 ITR 409 (SC). 17.2 The Learned DR submitted that the liabilities being unascertained, the Ld AO has correctly added the items to the profit as per books of accounts for arriving at book profit as per the provisions of section 115JB read with explanation 1(c) of the Act. 17.3 The Learned Counsel of the assessee relied on the order of the Learned CIT(A) an…

DCIT, New Delhi vs. M/S. Central Warehousing Corp., New Delhi

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

ITA 3439/DEL/2014[2007-08]Status: DisposedITAT Delhi31 May 2021AY 2007-08

Bench: Shri O.P. Kant, Accountantmember & Shri K.N. Chary[Through Video Conferencing]

Section 139(5)Section 143(1)Section 36

…same as ascertained liability while adjudicating additions under regular provisions of the Act. The addition for provision of bad and doubtful debt was deleted following the decision of the Hon’ble Supreme Court in the case of HCL Comnet Systems and Services 305 ITR 409 (SC). 17.2 The Learned DR submitted that the liabilities being unascertained, the Ld AO has correctly added the items to the profit as per books of accounts for arriving at book profit as per the provisions of section 115JB read with explanation 1(c) of the Act. 17.3 The Learned Counsel of the assessee relied on the order of the Learned CIT(A) an…

M/S. Central Warehousing Corporation, New Delhi vs. DCIT, New Delhi

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

ITA 2201/DEL/2014[2009-10]Status: DisposedITAT Delhi31 May 2021AY 2009-10

Bench: Shri O.P. Kant, Accountantmember & Shri K.N. Chary[Through Video Conferencing]

Section 139(5)Section 143(1)Section 36

…same as ascertained liability while adjudicating additions under regular provisions of the Act. The addition for provision of bad and doubtful debt was deleted following the decision of the Hon’ble Supreme Court in the case of HCL Comnet Systems and Services 305 ITR 409 (SC). 17.2 The Learned DR submitted that the liabilities being unascertained, the Ld AO has correctly added the items to the profit as per books of accounts for arriving at book profit as per the provisions of section 115JB read with explanation 1(c) of the Act. 17.3 The Learned Counsel of the assessee relied on the order of the Learned CIT(A) an…

DCIT, New Delhi vs. M/S. Central Warehousing Corporation, New Delhi

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

ITA 3942/DEL/2011[2006-07]Status: DisposedITAT Delhi31 May 2021AY 2006-07

Bench: Shri O.P. Kant, Accountantmember & Shri K.N. Chary[Through Video Conferencing]

Section 139(5)Section 143(1)Section 36

…same as ascertained liability while adjudicating additions under regular provisions of the Act. The addition for provision of bad and doubtful debt was deleted following the decision of the Hon’ble Supreme Court in the case of HCL Comnet Systems and Services 305 ITR 409 (SC). 17.2 The Learned DR submitted that the liabilities being unascertained, the Ld AO has correctly added the items to the profit as per books of accounts for arriving at book profit as per the provisions of section 115JB read with explanation 1(c) of the Act. 17.3 The Learned Counsel of the assessee relied on the order of the Learned CIT(A) an…

Central Warehousing Corporation, New Delhi vs. ACIT, New Delhi

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

ITA 3885/DEL/2011[2006-07]Status: DisposedITAT Delhi31 May 2021AY 2006-07

Bench: Shri O.P. Kant, Accountantmember & Shri K.N. Chary[Through Video Conferencing]

Section 139(5)Section 143(1)Section 36

…same as ascertained liability while adjudicating additions under regular provisions of the Act. The addition for provision of bad and doubtful debt was deleted following the decision of the Hon’ble Supreme Court in the case of HCL Comnet Systems and Services 305 ITR 409 (SC). 17.2 The Learned DR submitted that the liabilities being unascertained, the Ld AO has correctly added the items to the profit as per books of accounts for arriving at book profit as per the provisions of section 115JB read with explanation 1(c) of the Act. 17.3 The Learned Counsel of the assessee relied on the order of the Learned CIT(A) an…

Bob Financial Solution Ltd., Mumbai vs. DCIT, Circle 2 (1)(1), Mumbai

The appeal stand partly allowed in terms of our above order

ITA 1207/MUM/2019[2014-15]Status: DisposedITAT Mumbai15 Mar 2021AY 2014-15

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri Kishor C. Dalal-Ld.ARFor Respondent: Shri Rahul Raman –Ld. CIT-DR
Section 115JSection 143(3)Section 195Section 37(1)

…1 • BOB Financial Solutions Limited Assessment Year: 2014-15 आयकर अपीलीय अिधकरण “बी” "ायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI माननीय "ी महावीर िसंह, उपा"" एवं माननीय "ी मनोज कुमार अ"वाल ,लेखा सद" के सम"। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपील सं./ I.T.A. No.1207/Mum/2019 (िनधा"रण वष" / Assessment Year: 2014-15 ) BOB Financial Solutions Ltd. DCIT–Circle-2(1)(1) 2nd Floor, Baroda House बनाम/ 561, 5th Floor S.V. Road, Jogeshwari (W) Aaykar Bhavan, MK Marg Vs. Mumbai-400 062 Mumbai-400 020 "थायीलेखासं./जीआइआरसं./PAN/GIR No. AAACB-1989-L…

Batliboi Ltd, Mumbai vs. DCIT Cir 2(1), Mumbai

In the result, appeal of the assessee is allowed in part

ITA 5428/MUM/2015[2011-12]Status: DisposedITAT Mumbai17 Feb 2021AY 2011-12

Bench: Shri M.Balaganesh, Am & Shri Pavan Kumar Gadale, Jm M/S. Batliboi Limited Vs. Dy. Cit, Circle 2(1) Bharat House, Aayakar Bhavan 5Th Floor, 104 5Th Floor, Mumbai-400001 Mumbai Samachar Marg Fort, Mumbai -400 001 Pan/Gir No. Aaacb4408L (Appellant) .. (Respondent)

Section 115JSection 143(3)Section 40A

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT), ‘B‘ BENCH MUMBAI BEFORE SHRI M.BALAGANESH, AM & SHRI PAVAN KUMAR GADALE, JM M/s. Batliboi Limited Vs. Dy. CIT, Circle 2(1) Bharat House, Aayakar Bhavan 5th Floor, 104 5th Floor, Mumbai-400001 Mumbai Samachar Marg Fort, Mumbai -400 001 PAN/GIR No. AAACB4408L (Appellant) .. (Respondent) Assessee by Shri S. Vankatraman Revenue by Shri Shishir Dhamija Date of Hearing 05/01/2021 Date of Pronouncement 17/02/2021 आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in ITA No.5428/Mum/2015 for A.Y.2011-12 arises out of the order by the ld. Commissioner of Inc…

DCIT, Circle - 3, Kolkata vs. M/S. the Peerless General Finance & Investment Co. Ltd., Kolkata

In the result, the appeal of revenue is dismissed

ITA 50/KOL/2009[2002-03]Status: DisposedITAT Kolkata03 Dec 2020AY 2002-03

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 115JSection 260A

…ered accordingly.” 8. We note that in the above judgment, the Hon'ble High Court has considered the following judgments: i. CIT v. Deepak Nitrite Ltd. [Tax Appeal o. 1918 of 2009, dated 17-8-2011] (para 4) ii. CIT v. HCL Comnet Systems & Services Ltd. (2008) 305 ITR 409/174 Taxman 118 (SC) 9 The Peerless General Finance & Investment Co. Ltd., AY 2002-03 iii. CIT v. Indian Petrochemicals Corpn. Ltd. [2016] 74 taxmann.com 163 (Guj.) (para 4), iv. CIT v. Yokogawa India Ltd. [2012] 17 taxmann.com 151204 Taxman 305 (Kar.) (para 4), v. CIT v. Kirloskar Systems Ltd. [2013] 40 taxmann.com 124/[2014] 220 Taxman 1 CKar.…

M/S. Ester Industries Ltd., Gurgaon vs. DCIT, New Delhi

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

ITA 1138/DEL/2015[2005-06]Status: DisposedITAT Delhi21 Oct 2020AY 2005-06

Bench: Shri Prashant Maharishi & Shri K.Narasimha Charyester Industries Limited, Vs. Dcit, Circle 11(1), Block A, Plot No. 11, New Delhi Infocity-1, Sector-33 & 34, Gurugaon.

For Appellant: Sh. R. Santhanam, AdvFor Respondent: Sh. Jagdish Singh, Sr. DR
Section 115JSection 143(3)

…n 115JB w.e.f. 01.04.2001 by way of Finance Act, 2008. Though the assessee placed reliance on certain decisions like AppolloTyres Ltd. Vs. CIT (2002) 255 ITR 273(SC) and decision of Hon’ble Delhi High court in CIT vs. HCL Comnet Systems & Services Ltd. (2008) 305 ITR 409 etc., in view of retrospective amendment to section 115JB, we cannot find fault with the findings of the ld. CIT(A) in confirming these additions. We, therefore, decline to interfere with the same and confirm these additions. 8. In the result, the appeal of the assessee is allowed in part but for statistical purposes. Order pronounced in the open…

The DCIT, Cochin vs. M/S.Aspinwall & Co. Ltd, Cochin

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

ITA 133/COCH/2017[2012-13]Status: DisposedITAT Cochin19 May 2020AY 2012-13

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

Section 14A

…ies (104 ITD 249) held that the provision for bad debt is not liability per se, as no liability would be fastened upon the tax-payer even if the underlying debt is not recovered. The Supreme Court in the case of CIT vs. HCL Comnet systems & Services Limited (305 ITR 409) held that the provision of doubtful debts is akin to the provision of diminution in value of assets. 9.3 However, according to the CIT(A), this provision in the Act has been amended by the Finance Act, 2008 and 2009 w.e.f. 1.4.2001 wherein the Explanation 1, clause (c) and (i) read as under: I.T.A. Nos. 60&61/Coch/2015 & 128 & 133/Coch/2017…

M/S Aspinwall & Co., Ltd, Cochin vs. The ACIT, Cochin

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

ITA 128/COCH/2017[2012-13]Status: DisposedITAT Cochin19 May 2020AY 2012-13

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

Section 14A

…ies (104 ITD 249) held that the provision for bad debt is not liability per se, as no liability would be fastened upon the tax-payer even if the underlying debt is not recovered. The Supreme Court in the case of CIT vs. HCL Comnet systems & Services Limited (305 ITR 409) held that the provision of doubtful debts is akin to the provision of diminution in value of assets. 9.3 However, according to the CIT(A), this provision in the Act has been amended by the Finance Act, 2008 and 2009 w.e.f. 1.4.2001 wherein the Explanation 1, clause (c) and (i) read as under: I.T.A. Nos. 60&61/Coch/2015 & 128 & 133/Coch/2017…

Aspinwall & Company Ltd, Cochin vs. The ACIT, Cochin

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

ITA 61/COCH/2015[2006-07]Status: DisposedITAT Cochin19 May 2020AY 2006-07

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

Section 14A

…ies (104 ITD 249) held that the provision for bad debt is not liability per se, as no liability would be fastened upon the tax-payer even if the underlying debt is not recovered. The Supreme Court in the case of CIT vs. HCL Comnet systems & Services Limited (305 ITR 409) held that the provision of doubtful debts is akin to the provision of diminution in value of assets. 9.3 However, according to the CIT(A), this provision in the Act has been amended by the Finance Act, 2008 and 2009 w.e.f. 1.4.2001 wherein the Explanation 1, clause (c) and (i) read as under: I.T.A. Nos. 60&61/Coch/2015 & 128 & 133/Coch/2017…

Aspinwall & Company Ltd, Cochin vs. The ACIT, Cochin

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

ITA 60/COCH/2015[2006-07]Status: DisposedITAT Cochin19 May 2020AY 2006-07

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

Section 14A

…ies (104 ITD 249) held that the provision for bad debt is not liability per se, as no liability would be fastened upon the tax-payer even if the underlying debt is not recovered. The Supreme Court in the case of CIT vs. HCL Comnet systems & Services Limited (305 ITR 409) held that the provision of doubtful debts is akin to the provision of diminution in value of assets. 9.3 However, according to the CIT(A), this provision in the Act has been amended by the Finance Act, 2008 and 2009 w.e.f. 1.4.2001 wherein the Explanation 1, clause (c) and (i) read as under: I.T.A. Nos. 60&61/Coch/2015 & 128 & 133/Coch/2017…

Bilakhia Holdings Pvt. Ltd., Vapi vs. The ACIT., Vapi Circle, Vapi

In the result, the appeal of the assessee is allowed for assessment year 2010-11

ITA 795/AHD/2016[2011-12]Status: DisposedITAT Surat04 Feb 2020AY 2011-12

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

Section 115JSection 143(3)Section 144C

…y excluding the provisions made for arrears or depreciation. The decision of the Apex Court has been followed in the following other decisions:- a. Malayala Manorama Co. Ltd vs. CIT [2008] 300 ITR 251 (SC) b. CIT vs. HCL Comnet Systems and Services Ltd [2008] 305 ITR 409 (SC), c. CIT-I Vs. Vijayashree Finance and Investment Co. Pvt. Ltd 2 DTR 38 [216 CTR (Madra) 191] d. CIT Vs. Rubamin P. Ltd [2009] 312 ITR 18 (Guj) e. CIT Vs. Kovai Maruthi Paper and Board P. Ltd [2007] 294 57 (Mad) f. CIT Vs. Adbhut Trading Co. P. Ltd [2011] 338 ITR 94 (Bom), and g. CIT Vs. Akshay Textiles Trading and Agencies P. Ltd [2008] 304…

Bilakhia Holdings Pvt. Ltd., Vapi vs. The Addl.CIT., Vapi Range, Vapi

In the result, the appeal of the assessee is allowed for assessment year 2010-11

ITA 1416/AHD/2015[2010-11]Status: DisposedITAT Surat04 Feb 2020AY 2010-11

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

Section 115JSection 143(3)Section 144C

…y excluding the provisions made for arrears or depreciation. The decision of the Apex Court has been followed in the following other decisions:- a. Malayala Manorama Co. Ltd vs. CIT [2008] 300 ITR 251 (SC) b. CIT vs. HCL Comnet Systems and Services Ltd [2008] 305 ITR 409 (SC), c. CIT-I Vs. Vijayashree Finance and Investment Co. Pvt. Ltd 2 DTR 38 [216 CTR (Madra) 191] d. CIT Vs. Rubamin P. Ltd [2009] 312 ITR 18 (Guj) e. CIT Vs. Kovai Maruthi Paper and Board P. Ltd [2007] 294 57 (Mad) f. CIT Vs. Adbhut Trading Co. P. Ltd [2011] 338 ITR 94 (Bom), and g. CIT Vs. Akshay Textiles Trading and Agencies P. Ltd [2008] 304…

Bilakhia Holdings Pvt. Ltd., Vapi vs. The Jt.CIT., Vapi Range, Vapi

In the result, the appeal of the assessee is allowed for assessment year 2010-11

ITA 1415/AHD/2015[2009-10]Status: DisposedITAT Surat04 Feb 2020AY 2009-10

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

Section 115JSection 143(3)Section 144C

…y excluding the provisions made for arrears or depreciation. The decision of the Apex Court has been followed in the following other decisions:- a. Malayala Manorama Co. Ltd vs. CIT [2008] 300 ITR 251 (SC) b. CIT vs. HCL Comnet Systems and Services Ltd [2008] 305 ITR 409 (SC), c. CIT-I Vs. Vijayashree Finance and Investment Co. Pvt. Ltd 2 DTR 38 [216 CTR (Madra) 191] d. CIT Vs. Rubamin P. Ltd [2009] 312 ITR 18 (Guj) e. CIT Vs. Kovai Maruthi Paper and Board P. Ltd [2007] 294 57 (Mad) f. CIT Vs. Adbhut Trading Co. P. Ltd [2011] 338 ITR 94 (Bom), and g. CIT Vs. Akshay Textiles Trading and Agencies P. Ltd [2008] 304…