CIT v. Hyundai Heavy Industries Co. Ltd.

291 ITR 482Supreme Court of India2007#588 most cited

What is CIT v. Hyundai Heavy Industries Co. Ltd. authority for?

The Supreme Court held that the 'project completion method' and the 'percentage of completion method' are recognized accounting methods for ascertaining profit for contracts. The case affirms these methods in the context of contract accounts.

166

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2011 to 2025.

Also referred to as

CIT v Hyundai Heavy Industries Co. Ltd · completed contract method · percentage of completion method · contract accounts · profit ascertainment · accounting methods · 291 ITR 482 · 161 Taxmann 191 · SC

Also reported as

161 Taxmann 191

Sections most often in play

Section 9(1)(vii)Section 143(3)Section 234BSection 37Section 40(a)(i)Section 115JBSection 44CSection 195
Read the full judgment

Issues it is cited on

section 44bbbsection 209(1)section 44bbsection 44csection 44bsection 145(1)fixed place pedependent agent pesection 9(1)(i)construction pesection 9(1)(vii)project completion method

Judgments citing CIT v. Hyundai Heavy Industries Co. Ltd.

National Petroleum Construction Co., Gurgaon vs. ADIT, New Delhi

In the result, the appeal of the assessee is allowed

ITA 5762/DEL/2011[2003-04]Status: DisposedITAT Delhi06 Oct 2017AY 2003-04

Bench: Sh. Bhavnesh Saini & Sh. O.P. Kantassessment Year: 2003-04 Vs. Adit, International M/S. National Petroleum Taxation, Construction Co., C/O New Delhi Pricewaterhouse Coopers Pvt. Ltd., Building No. 10, Tower –C, 17Th Floor, Dlf Cyber City, Gurgaon Pan : Aaacn7799J (Appellant) (Respondent)

Section 143(3)Section 144C(1)Section 148Section 154Section 234DSection 44B

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘E’, NEW DELHI BEFORE SH. BHAVNESH SAINI, JUDICIAL MEMBER AND SH. O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2003-04 Vs. ADIT, International M/s. National Petroleum Taxation, Construction Co., C/o New Delhi Pricewaterhouse Coopers Pvt. Ltd., Building No. 10, Tower –C, 17th Floor, DLF Cyber City, Gurgaon PAN : AAACN7799J (Appellant) (Respondent) Appellant by S/sh. Ravi Sharma & Rishabh Malhotra, CAs Respondent by Sh. T.M. Shiv Kumar, CIT(DR) Date of hearing 30.08.2017 Date of pronouncement 06.10.2017 ORDER PER O.P. KANT, A.M.: This appeal by the assessee is di…

DCIT, Cir-2(1), Kolkata vs. M/S Outotec Gmbh, Kolkata

In the result, the appeal filed by the Revenue ( in ITA No

ITA 193/KOL/2016[2012-2013]Status: DisposedITAT Kolkata08 Sept 2017AY 2012-2013

Bench: Shri N. C. Vasudevan, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.160/Kol/2016 (िनधा"रण वष" / Assessment Year: 2012-13 Outotec Gmbh Vs. D.C.I.T., International C/O Outotec India Private Ltd., Taxation-2(1), Kolkata 12Th Floor, South City Pinnacle, Plot- Aayakar Bhawan Xi, Block-Ep, Sector-V, Salt Lake, Kolkata – 700 091. Poorva,110 Shanti Pally, Kolkata-700107 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaco 8228 K (Appellant/Assessee) .. (Respondent/Department) आयकर अपील सं./Ita No.193/Kol/2016 (िनधा"रण वष" / Assessment Year: 2012-13 D.C.I.T., International Vs. Outotec Gmbh Taxation-2(1), Kolkata Aayakar Bhawan Poorva,110 C/O Outotec India Private Ltd., Shanti Pally, Kolkata-700107 12Th Floor, South City Pinnacle, Plot-Xi, Block-Ep, Sector-V, Salt Lake, Kolkata – 700 091. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaco 8228 K (Appellant/Department) .. (Respondent/Assessee) Department By : Shri G. Mallikarjuna, Cit Dr. Assessee By : Subhabrata Mukherjee, Ar & Soumyadip Roy Choudhury, Ar सुनवाई क" तारीख / Date Of Hearing : 10/07/2017 घोषणा क" तारीख/Date Of Pronouncement : 08/09/2017

For Appellant: Subhabrata Mukherjee, AR &For Respondent: Shri G. Mallikarjuna, CIT DR
Section 143(2)Section 143(3)Section 144CSection 209Section 234ASection 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI N. C. VASUDEVAN, JM & DR. A.L.SAINI, AM आयकर अपील सं./ITA No.160/Kol/2016 (िनधा"रण वष" / Assessment Year: 2012-13 Outotec Gmbh Vs. D.C.I.T., International C/o OUtotec India Private Ltd., Taxation-2(1), Kolkata 12th Floor, South City Pinnacle, Plot- Aayakar Bhawan XI, Block-EP, Sector-V, Salt Lake, Kolkata – 700 091. Poorva,110 Shanti Pally, Kolkata-700107 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACO 8228 K (Appellant/Assessee) .. (Respondent/Department) आयकर अपील सं./ITA No.193/Kol/2016 (िनधा"रण वष" / Assessment Year: 2012-13 D.C.I.T., Interna…

Outotec Gmbh, Kolkata vs. The DCIT, It - 2(1), Kolkata

In the result, the appeal filed by the Revenue ( in ITA No

ITA 160/KOL/2016[2012-2013]Status: DisposedITAT Kolkata08 Sept 2017AY 2012-2013

Bench: Shri N. C. Vasudevan, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.160/Kol/2016 (िनधा"रण वष" / Assessment Year: 2012-13 Outotec Gmbh Vs. D.C.I.T., International C/O Outotec India Private Ltd., Taxation-2(1), Kolkata 12Th Floor, South City Pinnacle, Plot- Aayakar Bhawan Xi, Block-Ep, Sector-V, Salt Lake, Kolkata – 700 091. Poorva,110 Shanti Pally, Kolkata-700107 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaco 8228 K (Appellant/Assessee) .. (Respondent/Department) आयकर अपील सं./Ita No.193/Kol/2016 (िनधा"रण वष" / Assessment Year: 2012-13 D.C.I.T., International Vs. Outotec Gmbh Taxation-2(1), Kolkata Aayakar Bhawan Poorva,110 C/O Outotec India Private Ltd., Shanti Pally, Kolkata-700107 12Th Floor, South City Pinnacle, Plot-Xi, Block-Ep, Sector-V, Salt Lake, Kolkata – 700 091. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaco 8228 K (Appellant/Department) .. (Respondent/Assessee) Department By : Shri G. Mallikarjuna, Cit Dr. Assessee By : Subhabrata Mukherjee, Ar & Soumyadip Roy Choudhury, Ar सुनवाई क" तारीख / Date Of Hearing : 10/07/2017 घोषणा क" तारीख/Date Of Pronouncement : 08/09/2017

For Appellant: Subhabrata Mukherjee, AR &For Respondent: Shri G. Mallikarjuna, CIT DR
Section 143(2)Section 143(3)Section 144CSection 209Section 234ASection 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI N. C. VASUDEVAN, JM & DR. A.L.SAINI, AM आयकर अपील सं./ITA No.160/Kol/2016 (िनधा"रण वष" / Assessment Year: 2012-13 Outotec Gmbh Vs. D.C.I.T., International C/o OUtotec India Private Ltd., Taxation-2(1), Kolkata 12th Floor, South City Pinnacle, Plot- Aayakar Bhawan XI, Block-EP, Sector-V, Salt Lake, Kolkata – 700 091. Poorva,110 Shanti Pally, Kolkata-700107 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACO 8228 K (Appellant/Assessee) .. (Respondent/Department) आयकर अपील सं./ITA No.193/Kol/2016 (िनधा"रण वष" / Assessment Year: 2012-13 D.C.I.T., Interna…

ITO (It), Kolkata vs. M/S. Electrosteel Casting Limited., Kolkata

In the result, the appeal of the revenue is dismissed

ITA 2249/KOL/2014[2011-2012]Status: DisposedITAT Kolkata07 Jul 2017AY 2011-2012

Bench: Hon’Ble Sri A.T.Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 2249/Kol/2014 Assessment Year : 2011-12 I.T.O. (International Taxation), -Vs.- M/S. Electrosteel Casting Ltd. Kolkata Kolkata [Pan : Aaace 4975 B] (Respondent) (Appellant) For The Appellant : None For The Respondent : Shri Ravi Tulsiyan, Fca Date Of Hearing : 14.06.2017. Date Of Pronouncement : 07.07.2017 Order

For Appellant: NoneFor Respondent: Shri Ravi Tulsiyan, FCA
Section 143(3)Section 195Section 201Section 5(2)Section 9(1)(i)

…eration which is carried out in India for which any income can be reasonably attributed. This principle has been upheld by the Apex court in the M/s. Ishikawajma-Harima Heavy Industries Ltd Vs DIT (288 ITR 408) and CIT Vs M/s. Hyundal Heavy Industries Co Ltd (291 ITR 482) On the issue of commission to foreign based agent, similar view has been taken by the Apex court in the case of CIT vs M/s.Toshoku Ltd (125 ITR 525 (SC). Similar view has been taken by Delhi High Court in the case of CIT Vs M/s. EON Technology (P) Ltd (15 Taxmann.com 391). Even the CSDT's Circular No. 163 dated 29.05.1975 and Circular No.786 dat…

Technip Uk Ltd., Gurgaon vs. DIT, New Delhi

In the result, the appeal filed by the assessee is allowed

ITA 4284/DEL/2013[2008-09]Status: DisposedITAT Delhi24 Apr 2017AY 2008-09

Bench: Shri R.K. Panda & Smt. Beena A. Pillai[Assessment Year: 2008-09] Technip Uk Limited Vs. The D.I.T. C/O Bmr & Associates Llp International - Ii 22Nd Floor, Building No. 5 New Delhi Tower ‘A’, Dlf Cyber City, Dlf Phase Iii, Gurgaon Haryana Pan : Aacct 8268 N (Appellant) (Respondent)

For Appellant: Shri Ajay Vohra, AdvFor Respondent: Shri Anuj Arora, Sr- DR
Section 263Section 4Section 44BSection 44D

…e to PE in India shall be only profits arising from activities carried out by the PE in India. For the above proposition, he relied on the following judicial precedents: a) Carborandum Co vs CIT [1977] 108 ITR 335 (SC))- b) CIT vs. Hyundai Heavy Industries: 291 ITR 482 (SC) 31. He submitted that the ratio decidendi laid down by the Supreme Court squarely applies to the instant case since the out-country scope of the work under the Contract had been performed by the appellant from outside of India and without the intervention of the said permanent establishment in India. 32. The ld. counsel for the assessee dr…

ITO 16(2)(2), Mumbai vs. Matushree Builders & Developers, Mumbai

In the result, appeal filed by the Revenue in ITA No

ITA 6178/MUM/2014[2011-12]Status: DisposedITAT Mumbai19 Dec 2016AY 2011-12

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.6178/Mum/2014 ("नधा"रण वष" / Assessment Year : 2011-12) I.T.O. – 16(2)(2), M/S Matushree Builders & बनाम/ R. No. 214, 2Nd Floor, Developers, V. Matru Mandir, 8-A, Gr. Flr., Tardeo Road, Apollo House, Mumbai – 400 007. B.S. Marg, Fort, Mumbai – 400 023. "थायी लेखा सं./Pan :Aanfm0260F (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

For Appellant: Shri BeharilalFor Respondent: Shri Neil Philip
Section 143(3)Section 145

…CIT v. Manish Build Well Private Limited(supra), wherein Hon’ble Delhi High court observed as under: “8. It is well settled that the project completion method is one of the recognized methods of accounting. In CIT v. Hyundai Heavy Industries Co. Ltd. [2007] 291 ITR 482 / 161 Taxman 191 (SC) the Supreme Court held as follows:- ITA 6178/Mum/2014 8 "Lastly, there is a concept in accounts which is called the concept of contract accounts. Under that concept, two methods exist for ascertaining profit for contracts, namely, "completed contract method" and "percentage of completion method". To know the results of hi…

Iljin Electric Co. Ltd, Mumbai vs. DCIT (It) Cir 2(2)(1), Mumbai

In the result, appeal for A

ITA 1023/MUM/2015[2011-12]Status: DisposedITAT Mumbai14 Oct 2016AY 2011-12

Bench: Shri Jason P. Boaz, Accoutant Member & Shri Saktijit Dey

For Appellant: Shri Madhur AgarwalFor Respondent: Shri Jasbir Chauhan
Section 143(3)Section 144C(13)Section 144C(5)Section 234BSection 234D

…nt, hence, the off–shore supply is not taxable. Learned Authorised Representative submitted, the off–shore supply cannot be taxed in India on the reason that it has no economic nexus with India. Relying upon the decision of Hyundai Heavy Industries Co. Ltd., 291 ITR 482 (SC), it was submitted, all profits of a non–resident company from its business connection in India would be taxable in India but only so much of the profit having economic nexus with P.E. in India would be taxable in India. As far as the contention of the Department that the decision rendered in case of Ishikawajima Harima Heavy Industries (supr…

ADIT (It) (2), Mumbai vs. Daimler Ag, Mumbai

ITA 7648/MUM/2013[2008-09]Status: DisposedITAT Mumbai28 Sept 2016AY 2008-09

Bench: Shri R.C. Sharma, Am & Shri Sandeep Gosain, Jm आयकर अपील सं./ I.T.A. No. 7648 & 7649/Mum/2013 ("नधा"रण वष" / Assessment Year: 2008-09 & 2009-10) Asst. Dit(It) -1(2), M/S. Daimler Ag Room No.119, 1St Floor, Scindia C/O Srbc & Associates 14Th Floor, The Ruby 29, बनाम/ House, N.M. Road, Ballard Estate, Mumbai-400 038. Senapati Bapat Marg Vs. Dadar (West) Mumbai-400 028. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aabcd 2354C (अपीलाथ" /Appellant) (""यथ" / Respondent) :

For Appellant: Shri Hemen Chandariya
Section 143(3)Section 195Section 234B

…o income from such sale accrues or arises to the assessee in India. In other words no part of such profits accrue from or can be attributed to any activities of the assessee or his agent in India. The Apex Court in the case of CIT vs. Hyundail Industries Ltd (291 ITR 482) has held that in the case of an agreement with a South Korean Company for fabrication and installation of oil exploration platform, the PE attributable to installation and commissioning came into existence only after the supply of the equipment. Therefore, profits from supply of the platform did not accrue in India. Similarly in the case of Ishi…

Abb Switzerland Ltd, Bangalore vs. ADIT 1(1)

In the result, both the appeal of the assessee stands allowed

ITA 7528/MUM/2012[2009-10]Status: DisposedITAT Mumbai15 Jun 2016AY 2009-10

Bench: Shri G S Pannu & Shri Amit Shukla

For Appellant: Shri P J PardiwallaFor Respondent: Shri Jasbir Chouhan
Section 139(1)Section 144C(5)Section 147Section 148Section 234BSection 271(1)(c)Section 44B

…आयकर अपीलीय अिधकरण “एल” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “L”, MUMBAI "ी जी.एस. प"ू, लेखा सद"य एवं "ी अिमत शु"ला, "याियक सद"य के सम" । BEFORE SHRI G S PANNU, ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA, JUDICIAL MEMBER ITA No. : 7527/Mum/2012 (Assessment year: 2008-09) ITA No. : 7528/Mum/2012 (Assessment year: 2009-10) ABB Switzerland Ltd., Vs ADIT(IT)-1(1), C/o. ABB Ltd., 2nd Floor, Mumbai East Wing Khanija Bhavan No. 49, Race Course Road, Bangalore -560 001 "थयी लेखा सं. PAN: AACCBA 7688 Q अपीलाथ" (Appellant) ""यथ" (Respondent) Appellant by : Shri P J Pardiwalla Respondent by : S…

Abb Switzerland Ltd, Bangalore vs. ADIT 1(1)

In the result, both the appeal of the assessee stands allowed

ITA 7527/MUM/2012[2008-09]Status: DisposedITAT Mumbai15 Jun 2016AY 2008-09

Bench: Shri G S Pannu & Shri Amit Shukla

For Appellant: Shri P J PardiwallaFor Respondent: Shri Jasbir Chouhan
Section 139(1)Section 144C(5)Section 147Section 148Section 234BSection 271(1)(c)Section 44B

…आयकर अपीलीय अिधकरण “एल” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “L”, MUMBAI "ी जी.एस. प"ू, लेखा सद"य एवं "ी अिमत शु"ला, "याियक सद"य के सम" । BEFORE SHRI G S PANNU, ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA, JUDICIAL MEMBER ITA No. : 7527/Mum/2012 (Assessment year: 2008-09) ITA No. : 7528/Mum/2012 (Assessment year: 2009-10) ABB Switzerland Ltd., Vs ADIT(IT)-1(1), C/o. ABB Ltd., 2nd Floor, Mumbai East Wing Khanija Bhavan No. 49, Race Course Road, Bangalore -560 001 "थयी लेखा सं. PAN: AACCBA 7688 Q अपीलाथ" (Appellant) ""यथ" (Respondent) Appellant by : Shri P J Pardiwalla Respondent by : S…

Mc Dermott Eastern Hemisphere Td ( Formelry Known As J. Ray Mc Dermott Eastern Hemisphere Ltd), Mumbai vs. DDIT (It) 3(1), Mumbai

In the result, appeals filed by the assessee and revenue are partly allowed for statistical purposes

ITA 7855/MUM/2011[2008-09]Status: DisposedITAT Mumbai06 May 2016AY 2008-09

Bench: Shri C.N. Prasad & Shri Ashwani Tanejaassessment Year: 1998-99 Adit (It) 1(2), M/S. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/O. Price Waterhouse & Co. Cas Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8Th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. Aabcm1087F

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,L,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “L”, MUMBAI Before Shri C.N. Prasad, Judicial Member, and Shri Ashwani Taneja, Accountant Member Assessment Year: 1998-99 ADIT (IT) 1(2), M/s. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/o. Price Waterhouse & Co. CAs Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. AABCM1087F ITA NOs.4434/Mum/2002 Assessment Year: 1998-99 M/s. J. Ray Mc Dermott JCIT S. Range-12, Eastern Hemisphere L…

J Ray Mcdermott Eastern Hemisphere Ltd, Mumbai vs. DDIT (It) 3(1), Mumbai

In the result, appeals filed by the assessee and revenue are partly allowed for statistical purposes

ITA 8720/MUM/2010[2004-05]Status: DisposedITAT Mumbai06 May 2016AY 2004-05

Bench: Shri C.N. Prasad & Shri Ashwani Tanejaassessment Year: 1998-99 Adit (It) 1(2), M/S. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/O. Price Waterhouse & Co. Cas Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8Th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. Aabcm1087F

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,L,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “L”, MUMBAI Before Shri C.N. Prasad, Judicial Member, and Shri Ashwani Taneja, Accountant Member Assessment Year: 1998-99 ADIT (IT) 1(2), M/s. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/o. Price Waterhouse & Co. CAs Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. AABCM1087F ITA NOs.4434/Mum/2002 Assessment Year: 1998-99 M/s. J. Ray Mc Dermott JCIT S. Range-12, Eastern Hemisphere L…

J Ray Mcdermott Eastrn Hemisphere Ltd, Mumbai vs. DDIT (It) 3(1), Mumbai

In the result, appeals filed by the assessee and revenue are partly allowed for statistical purposes

ITA 8718/MUM/2010[2007-08]Status: DisposedITAT Mumbai06 May 2016AY 2007-08

Bench: Shri C.N. Prasad & Shri Ashwani Tanejaassessment Year: 1998-99 Adit (It) 1(2), M/S. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/O. Price Waterhouse & Co. Cas Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8Th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. Aabcm1087F

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,L,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “L”, MUMBAI Before Shri C.N. Prasad, Judicial Member, and Shri Ashwani Taneja, Accountant Member Assessment Year: 1998-99 ADIT (IT) 1(2), M/s. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/o. Price Waterhouse & Co. CAs Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. AABCM1087F ITA NOs.4434/Mum/2002 Assessment Year: 1998-99 M/s. J. Ray Mc Dermott JCIT S. Range-12, Eastern Hemisphere L…

J Ray Mcdermott Eastrn Hemisphere Ltd, Mumbai vs. DDIT (It), Mumbai

In the result, appeals filed by the assessee and revenue are partly allowed for statistical purposes

ITA 8717/MUM/2010[2005-06]Status: DisposedITAT Mumbai06 May 2016AY 2005-06

Bench: Shri C.N. Prasad & Shri Ashwani Tanejaassessment Year: 1998-99 Adit (It) 1(2), M/S. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/O. Price Waterhouse & Co. Cas Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8Th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. Aabcm1087F

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,L,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “L”, MUMBAI Before Shri C.N. Prasad, Judicial Member, and Shri Ashwani Taneja, Accountant Member Assessment Year: 1998-99 ADIT (IT) 1(2), M/s. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/o. Price Waterhouse & Co. CAs Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. AABCM1087F ITA NOs.4434/Mum/2002 Assessment Year: 1998-99 M/s. J. Ray Mc Dermott JCIT S. Range-12, Eastern Hemisphere L…

J. Ray Mc Dermott Eastern Hemisphere Ltd, Mumbai vs. ADIT (It)-3(1), Mumbai

In the result, appeals filed by the assessee and revenue are partly allowed for statistical purposes

ITA 2227/MUM/2009[2002-2003]Status: DisposedITAT Mumbai06 May 2016AY 2002-2003

Bench: Shri C.N. Prasad & Shri Ashwani Tanejaassessment Year: 1998-99 Adit (It) 1(2), M/S. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/O. Price Waterhouse & Co. Cas Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8Th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. Aabcm1087F

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,L,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “L”, MUMBAI Before Shri C.N. Prasad, Judicial Member, and Shri Ashwani Taneja, Accountant Member Assessment Year: 1998-99 ADIT (IT) 1(2), M/s. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/o. Price Waterhouse & Co. CAs Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. AABCM1087F ITA NOs.4434/Mum/2002 Assessment Year: 1998-99 M/s. J. Ray Mc Dermott JCIT S. Range-12, Eastern Hemisphere L…

J. Ray Mc Dermott Eastern Hemisphere Ltd, Mumbai vs. ADIT (It)-3(1), Mumbai

In the result, appeals filed by the assessee and revenue are partly allowed for statistical purposes

ITA 2226/MUM/2009[2000-2001]Status: DisposedITAT Mumbai06 May 2016AY 2000-2001

Bench: Shri C.N. Prasad & Shri Ashwani Tanejaassessment Year: 1998-99 Adit (It) 1(2), M/S. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/O. Price Waterhouse & Co. Cas Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8Th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. Aabcm1087F

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,L,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “L”, MUMBAI Before Shri C.N. Prasad, Judicial Member, and Shri Ashwani Taneja, Accountant Member Assessment Year: 1998-99 ADIT (IT) 1(2), M/s. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/o. Price Waterhouse & Co. CAs Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. AABCM1087F ITA NOs.4434/Mum/2002 Assessment Year: 1998-99 M/s. J. Ray Mc Dermott JCIT S. Range-12, Eastern Hemisphere L…

M/S. J. Ray Mc Dermott Eastern Hemisphere Ltd, Mumbai vs. The ACIT It 3(1), Mumbai

In the result, appeals filed by the assessee and revenue are partly allowed for statistical purposes

ITA 2309/MUM/2006[2002-2003]Status: DisposedITAT Mumbai06 May 2016AY 2002-2003

Bench: Shri C.N. Prasad & Shri Ashwani Tanejaassessment Year: 1998-99 Adit (It) 1(2), M/S. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/O. Price Waterhouse & Co. Cas Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8Th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. Aabcm1087F

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,L,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “L”, MUMBAI Before Shri C.N. Prasad, Judicial Member, and Shri Ashwani Taneja, Accountant Member Assessment Year: 1998-99 ADIT (IT) 1(2), M/s. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/o. Price Waterhouse & Co. CAs Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. AABCM1087F ITA NOs.4434/Mum/2002 Assessment Year: 1998-99 M/s. J. Ray Mc Dermott JCIT S. Range-12, Eastern Hemisphere L…

J.Ray Mc Dermott Eastern Hemisphere Ltd vs. The Jdit (It) 4

In the result, appeals filed by the assessee and revenue are partly allowed for statistical purposes

ITA 5302/MUM/2004[2000-01]Status: DisposedITAT Mumbai06 May 2016AY 2000-01

Bench: Shri C.N. Prasad & Shri Ashwani Tanejaassessment Year: 1998-99 Adit (It) 1(2), M/S. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/O. Price Waterhouse & Co. Cas Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8Th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. Aabcm1087F

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,L,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “L”, MUMBAI Before Shri C.N. Prasad, Judicial Member, and Shri Ashwani Taneja, Accountant Member Assessment Year: 1998-99 ADIT (IT) 1(2), M/s. J. Ray Mc Dermott Eastern Aayakar Bhavan, Hemisphere Ltd., बनाम/ M.K. Road, C/o. Price Waterhouse & Co. CAs Vs. Mumbai-400020 Trade World, ‘C’ Wing, 8th Floor, Kamla Mills Compound, Lower Parel, Senapati Bapat Marg Mumbai- 400013 (Assessee) (Revenue) P.A. No. AABCM1087F ITA NOs.4434/Mum/2002 Assessment Year: 1998-99 M/s. J. Ray Mc Dermott JCIT S. Range-12, Eastern Hemisphere L…

Bnp Paribas Sa, Mumbai vs. ADIT (It)-3(2), Mumbai

In the result, the appeal is partly allowed in the terms indicated above

ITA 3422/MUM/2009[2004-05]Status: DisposedITAT Mumbai31 Mar 2016AY 2004-05
Section 143(3)

…T Act can only be concerned with the profits earned in India, and, therefore, a method is to be found to ascertain profits accruing or arising in India” which were also expressed by Hon’ble Supreme Court in the case of CIT Vs Hyundai Industries Co Ltd [(2007) 291 ITR 482 (SC)], do not apply to the treaty situation such as we are dealing with at present. On both of these occasions, before the coordinate bench as also before Hon’ble Supreme Court, these observations were made in the context of ascertainment of profits under the scheme of the Income Tax Act, 1961. That’s not the situation in the treaty situation, an…

Bnp Paribas Sa, Mumbai vs. Addl CIT (It) RG 3, Mumbai

In the result, the appeal is partly allowed in the terms indicated above

ITA 3541/MUM/2014[2009-10]Status: DisposedITAT Mumbai31 Mar 2016AY 2009-10
Section 143(3)Section 250

…of taxation” but this view has not really found favour with the judicial forums. Rejecting this approach after an elaborate analysis of the scheme of the Income Tax Act, Hon’ble Supreme Court has, in the case of CIT Vs Hyundai Heavy Industries Co Ltd [(2007) 291 ITR 482 (SC)], has held that “a taxable unit is a foreign company and not its branch or PE in India.” The very foundation of dual taxable entity is thus laid to rest. There is only one taxable unit and that is the GE, though it is taxable in respect of the profits attributable to the PE, and there is thus no question of taxability by the GE in respect of…