CIT v. Indian Sugar General and Gen. Industry Export Import

349 ITR 38High Court2012#24597 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 357,073 Indian tax judgments — from 2016 to 2019.

Judgments citing CIT v. Indian Sugar General and Gen. Industry Export Import

DCIT 1(1)(1), Mumbai vs. Concorde Motors (India) Ltd, Mumbai

In the result, appeal of the assessee is dismissed

ITA 2333/MUM/2017[2012-13]Status: DisposedITAT Mumbai01 Oct 2019AY 2012-13

Bench: Shri R.C. Sharma & Shri Pawan Singhacit-1(1)(1) M/S. Concorde Motors (India) Ltd., 3Rd Floor, Nanavati 579, Aayakar Bhawan, M. K. Road, Vs. Mahalaya, 18, Homy Modi Street, Mumbai-400020. Hutatma Chowk, Mumbai-400001. Pan: Aaacm0154A Appellant Respondent

For Appellant: Shri Abi Rama Karthikeyan (Sr DR)For Respondent: Shri Rajan Vora with Shri Nikhil Tiwari (AR)

Section 115JSection 143(3)Section 2Section 254(1)

…ission that valuation of closing stock is to be done at lower of the cost or NRV on the following decision:  United Commercial Bank (240 ITR 355) (SC).  Hughes Communication India Ltd. (215 Taxman 136) (Del HC).  Indian Sugar & Gen. Industry Export Import (349 ITR 38) (Del HC).  Alfa Laval (India) Ltd. (133 Taxman 740) (Hom HC).  Edelweiss Capital Ltd. (ITA No. 5324/Mum/2007).  Edel Commodities Ltd. (170 ITD 402) (Mum Trib.). 5. The ld. AR of the assessee submits that the ld. CIT(A) while granting (supra). 6. We have considered the rival submission of the parties and perused the material available on rec…

Shri Kushal Kumar Lunawat, Jaipur vs. Assistant Commissioner of Income Tax, Jaipur

In the result, appeal of the assessee is partly allowed

ITA 140/JPR/2018[2015-16]Status: DisposedITAT Jaipur30 Jan 2019AY 2015-16

For Appellant: Shri G. M. Mehta (CA)For Respondent: Shri Kalika Singh (CIT)

Section 132(4)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE-B, JAIPUR Jh fot; iky jko] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 140/JP/2018 fu/kZkj.k o"kZ@Assessment Year :2015-16 cuke Kushal Kumar Lunawat The ACIT, Vs. Jaipur Central Circle-1, Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AATPL2105L vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri G. M. Mehta (CA) jktLo dh vksj ls@ Revenue by : Shri Kalika Singh (CIT) lquokbZ dh rkjh[k@ Date o…

DCIT vs. Sri. Chamundeshwari Sugar Ltd

In the result, appeal of the Revenue is treated as allowed for statistical purpose

ITA 1538/BANG/2013[1990-91]Status: DisposedITAT Bangalore18 Mar 2016AY 1990-91

Bench: Shri. Abraham P. George & Shri. Vijay Pal Raoi.T.A No.1538/Bang/2013 (Assessment Year : 1990-91) Deputy Commissioner Of Income Tax, Circle – 12(1), Bangalore .. Appellant V. M/S. Sri Chamundeshwari Sugar Ltd, No.76, Ulsoor Road, Bangalore 560 042 .. Respondent Pan : Aaccss004R Assessee By : Vikram Vijayaraghavan, Advocate Revenue By : Shri. Sunil Kumar Agarwala, Jcit Heard On : 08.03.2016 Pronounced On : 18.03.2015 O R D E R Per Abraham P. George:

For Appellant: Vikram Vijayaraghavan, AdvocateFor Respondent: Shri. Sunil Kumar Agarwala, JCIT

Section 269

…udgement Hon’ble jurisdictional High Court in the case of CIT v. Corporation Bank Ltd, [174 ITR 616]. Further according to him, similar view was also taken by Hon’ble Delhi High Court in the case of CIT v. Indian Sugar General and Gen. Industry Export Import [349 ITR 38]. As per the Ld. AR this method was consistently followed by the assessee in subsequent years and accepted by the Department. As per the Ld. AR, earlier to A. Y. 1989-90, assessee was following 30th September as its accounting year end, but by virtue of amendments made by Finance Act, 1989, assessee was compelled to follow financial year ending on…