CIT v. Indo Nippon Chemicals Co. Limited

245 ITR 384High Court2000#4649 most cited

What is CIT v. Indo Nippon Chemicals Co. Limited authority for?

Revaluation of closing stock including unused Modvat credit is permissible, and additions made on this account by the Assessing Officer can be deleted.

25

judgments rely on this decision, according to BharatTax’s citation analysis of 366,421 Indian tax judgments — from 2016 to 2023.

Also referred to as

CIT v Indo Nippon Chemicals Co. Ltd · 245 ITR 384 · revaluation of closing stock · unused Modvat credit · deletion of addition · ITAT Mumbai · Bombay High Court

Issues it is cited on

section 17(1)section 35ddsection 92asection 36(l)(va)section 36(l)section 36(va)section 145aenhanced compensationsection 34(1)section 35dgoing concerncommercial rights

Judgments citing CIT v. Indo Nippon Chemicals Co. Limited

DCIT RG. - 6(3), Mumbai vs. M/S. Kansai Nerolac Paints Ltd., Mumbai

Accordingly we see no infirmity in the decision of CIT(A) and uphold the decision of the CIT(A). This ground of the revenue is dismissed

ITA 4607/MUM/2017[2011-12]Status: DisposedITAT Mumbai04 Dec 2023AY 2011-12

Bench: Shri Amit Shukla () & Ms. Padmavathy S. ()

Section 115Section 143(2)Section 145ASection 35DSection 36(1)(va)Section 40

…seized of AY 1989-90 which was prior to introduction of Section 145A by Finance Act, 1998 w.e.f. 01.04.1999. Incidentally when earlier Hon‟ble Bombay High Court was adjudicating appeal in the case of CIT v. Indo Nippon Chemicals Co. Limited reported in (2000) 245 ITR 384(Bom.) which related to AY 1989-00, it was brought to the notice of Hon‟ble Bombay High Court that there was newly inserted Section 145A of the 1961 Act by Finance Act(No. 2) , 1998 w.e.f. 01.04.1999, where in Hon‟ble Bombay High Court held in para 10 , as under: “10. Before concluding, we may mention that, in rejoinder, the learned counsel for th…

M/S. Kansai Nerolac Paints Ltd., Mumbai vs. DCIT RG. - 6(3), Mumbai

Accordingly we see no infirmity in the decision of CIT(A) and uphold the decision of the CIT(A). This ground of the revenue is dismissed

ITA 4562/MUM/2017[2011-12]Status: DisposedITAT Mumbai04 Dec 2023AY 2011-12

Bench: Shri Amit Shukla () & Ms. Padmavathy S. ()

Section 115Section 143(2)Section 145ASection 35DSection 36(1)(va)Section 40

…seized of AY 1989-90 which was prior to introduction of Section 145A by Finance Act, 1998 w.e.f. 01.04.1999. Incidentally when earlier Hon‟ble Bombay High Court was adjudicating appeal in the case of CIT v. Indo Nippon Chemicals Co. Limited reported in (2000) 245 ITR 384(Bom.) which related to AY 1989-00, it was brought to the notice of Hon‟ble Bombay High Court that there was newly inserted Section 145A of the 1961 Act by Finance Act(No. 2) , 1998 w.e.f. 01.04.1999, where in Hon‟ble Bombay High Court held in para 10 , as under: “10. Before concluding, we may mention that, in rejoinder, the learned counsel for th…

Kansai Nerolac Paints Ltd, Mumbai vs. DCIT RG 6(2), Mumbai

Accordingly we see no infirmity in the decision of CIT(A) and uphold the decision of the CIT(A). This ground of the revenue is dismissed

ITA 3642/MUM/2016[2010-11]Status: DisposedITAT Mumbai04 Dec 2023AY 2010-11

Bench: Shri Amit Shukla () & Ms. Padmavathy S. ()

Section 115Section 143(2)Section 145ASection 35DSection 36(1)(va)Section 40

…seized of AY 1989-90 which was prior to introduction of Section 145A by Finance Act, 1998 w.e.f. 01.04.1999. Incidentally when earlier Hon‟ble Bombay High Court was adjudicating appeal in the case of CIT v. Indo Nippon Chemicals Co. Limited reported in (2000) 245 ITR 384(Bom.) which related to AY 1989-00, it was brought to the notice of Hon‟ble Bombay High Court that there was newly inserted Section 145A of the 1961 Act by Finance Act(No. 2) , 1998 w.e.f. 01.04.1999, where in Hon‟ble Bombay High Court held in para 10 , as under: “10. Before concluding, we may mention that, in rejoinder, the learned counsel for th…

Kansai Nerolac Paints Limited (Erstwhile Known As Goodlass Nerolac Paints Limited), Mumbai vs. Addl. CIT, Range 6 (2), Mumbai

Accordingly we see no infirmity in the decision of CIT(A) and uphold the decision of the CIT(A). This ground of the revenue is dismissed

ITA 3385/MUM/2014[2009-10]Status: DisposedITAT Mumbai04 Dec 2023AY 2009-10

Bench: Shri Amit Shukla () & Ms. Padmavathy S. ()

Section 115Section 143(2)Section 145ASection 35DSection 36(1)(va)Section 40

…seized of AY 1989-90 which was prior to introduction of Section 145A by Finance Act, 1998 w.e.f. 01.04.1999. Incidentally when earlier Hon‟ble Bombay High Court was adjudicating appeal in the case of CIT v. Indo Nippon Chemicals Co. Limited reported in (2000) 245 ITR 384(Bom.) which related to AY 1989-00, it was brought to the notice of Hon‟ble Bombay High Court that there was newly inserted Section 145A of the 1961 Act by Finance Act(No. 2) , 1998 w.e.f. 01.04.1999, where in Hon‟ble Bombay High Court held in para 10 , as under: “10. Before concluding, we may mention that, in rejoinder, the learned counsel for th…

Kansai Nerolac Paints Limited (Erstwhile Known As Goodlass Nerolac Paints Limited), Mumbai vs. Addl CIT, Range 6 (2), Mumbai

Accordingly we see no infirmity in the decision of CIT(A) and uphold the decision of the CIT(A). This ground of the revenue is dismissed

ITA 3384/MUM/2014[2008-09]Status: DisposedITAT Mumbai04 Dec 2023AY 2008-09

Bench: Shri Amit Shukla () & Ms. Padmavathy S. ()

Section 115Section 143(2)Section 145ASection 35DSection 36(1)(va)Section 40

…seized of AY 1989-90 which was prior to introduction of Section 145A by Finance Act, 1998 w.e.f. 01.04.1999. Incidentally when earlier Hon‟ble Bombay High Court was adjudicating appeal in the case of CIT v. Indo Nippon Chemicals Co. Limited reported in (2000) 245 ITR 384(Bom.) which related to AY 1989-00, it was brought to the notice of Hon‟ble Bombay High Court that there was newly inserted Section 145A of the 1961 Act by Finance Act(No. 2) , 1998 w.e.f. 01.04.1999, where in Hon‟ble Bombay High Court held in para 10 , as under: “10. Before concluding, we may mention that, in rejoinder, the learned counsel for th…

Procter & Gamgle Hygiene& Healthcare, Ltd, Mumbai vs. ACIT Cir 7(1), Mumbai

Appeals are partly allowed

ITA 6591/MUM/2010[2004-05]Status: DisposedITAT Mumbai25 Aug 2023AY 2004-05
For Appellant: Shri Yogesh TharFor Respondent: Shri Gaurav Batham
Section 143(1)Section 143(3)

…on of Rs.5,10,84,214/- made on account of increase in the value of stock as per the provisions of section 145A. 4. On the facts and in the circumstances of the case and in law, the Ld.CIT(A) erred in relying on the decision of Indo Nippon Chemicals Co. Ltd. (245 ITR 384) without appreciating the fact that the said decision relates to Assessment Year 1989-90, having no bearing on section 145A, which was inserted by Finance (No.2) Act, 1998 w.e.f. 01/04/1999 under which the impugned additions to closing stock has been made." 5. On the facts and in the circumstances of the case and in law, the Ld.CIT(A) has not be…

Addl CIT RG 7(1), Mumbai vs. Proctor & Gamble Hygiene & Healthcare Ltd, Mumbai

Appeals are partly allowed

ITA 6549/MUM/2010[2004-05]Status: DisposedITAT Mumbai25 Aug 2023AY 2004-05
For Appellant: Shri Yogesh TharFor Respondent: Shri Gaurav Batham
Section 143(1)Section 143(3)

…on of Rs.5,10,84,214/- made on account of increase in the value of stock as per the provisions of section 145A. 4. On the facts and in the circumstances of the case and in law, the Ld.CIT(A) erred in relying on the decision of Indo Nippon Chemicals Co. Ltd. (245 ITR 384) without appreciating the fact that the said decision relates to Assessment Year 1989-90, having no bearing on section 145A, which was inserted by Finance (No.2) Act, 1998 w.e.f. 01/04/1999 under which the impugned additions to closing stock has been made." 5. On the facts and in the circumstances of the case and in law, the Ld.CIT(A) has not be…

The ACIT, Central Caircle-2(2) vs. M/S. Mardia Chemicals Ltd

In the result, the appeal of revenue is dismissed

ITA 855/AHD/2004[2000-01]Status: DisposedITAT Ahmedabad28 Jan 2022AY 2000-01

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: NoneFor Respondent: Shri Vinod Tanwani, CIT.D.R
Section 143(3)

…nch held as under: “We have carefully considered the submission of Id. DR and carefully gone through the order of Assessing Officer and CIT(A) in this regard. It has been held that Hon'ble Bombay High Court in the case of CIT Vs Indo Nippon Chemical Co. Ltd. 245 ITR 384 that Modvat credit is relatable to the raw material consumed and therefore, the Assessing Officer was wrong in calculating Modvat credit on the basis of purchase cost and in applying proviso to section 145(1). This decision of Hon'ble Bombay High Court has been approved by Hon'ble Supreme Court in the case of CIT Vs. Indo Nippon Chemicals Ltd 261…

The ACIT, Central Circle-2(2) vs. M/S. Mardia Chemicals Ltd

In the result, the appeal of revenue is dismissed

ITA 3210/AHD/2003[1999-2000]Status: DisposedITAT Ahmedabad28 Jan 2022AY 1999-2000

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: NoneFor Respondent: Shri Vinod Tanwani, CIT.D.R
Section 143(3)

…nch held as under: “We have carefully considered the submission of Id. DR and carefully gone through the order of Assessing Officer and CIT(A) in this regard. It has been held that Hon'ble Bombay High Court in the case of CIT Vs Indo Nippon Chemical Co. Ltd. 245 ITR 384 that Modvat credit is relatable to the raw material consumed and therefore, the Assessing Officer was wrong in calculating Modvat credit on the basis of purchase cost and in applying proviso to section 145(1). This decision of Hon'ble Bombay High Court has been approved by Hon'ble Supreme Court in the case of CIT Vs. Indo Nippon Chemicals Ltd 261…

The ACIT, Central Circle-2(2) vs. M/S. Mardia Chemicals Ltd

In the result, the appeal of revenue is dismissed

ITA 3209/AHD/2003[98-99]Status: DisposedITAT Ahmedabad28 Jan 2022

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: NoneFor Respondent: Shri Vinod Tanwani, CIT.D.R
Section 143(3)

…nch held as under: “We have carefully considered the submission of Id. DR and carefully gone through the order of Assessing Officer and CIT(A) in this regard. It has been held that Hon'ble Bombay High Court in the case of CIT Vs Indo Nippon Chemical Co. Ltd. 245 ITR 384 that Modvat credit is relatable to the raw material consumed and therefore, the Assessing Officer was wrong in calculating Modvat credit on the basis of purchase cost and in applying proviso to section 145(1). This decision of Hon'ble Bombay High Court has been approved by Hon'ble Supreme Court in the case of CIT Vs. Indo Nippon Chemicals Ltd 261…

The ACIT, Central Circle-2(2) vs. M/S. Mardia Chemicals Ltd

In the result, the appeal of revenue is dismissed

ITA 3208/AHD/2003[97-98]Status: DisposedITAT Ahmedabad28 Jan 2022

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: NoneFor Respondent: Shri Vinod Tanwani, CIT.D.R
Section 143(3)

…nch held as under: “We have carefully considered the submission of Id. DR and carefully gone through the order of Assessing Officer and CIT(A) in this regard. It has been held that Hon'ble Bombay High Court in the case of CIT Vs Indo Nippon Chemical Co. Ltd. 245 ITR 384 that Modvat credit is relatable to the raw material consumed and therefore, the Assessing Officer was wrong in calculating Modvat credit on the basis of purchase cost and in applying proviso to section 145(1). This decision of Hon'ble Bombay High Court has been approved by Hon'ble Supreme Court in the case of CIT Vs. Indo Nippon Chemicals Ltd 261…

The ACIT, Cen- Cir 2(2), Ahmedabad vs. M/S Mardia Chemicals Ltd, Ahmedabad

In the result, the appeal of revenue is dismissed

ITA 3437/AHD/2002[93-94]Status: DisposedITAT Ahmedabad28 Jan 2022

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: NoneFor Respondent: Shri Vinod Tanwani, CIT.D.R
Section 143(3)

…nch held as under: “We have carefully considered the submission of Id. DR and carefully gone through the order of Assessing Officer and CIT(A) in this regard. It has been held that Hon'ble Bombay High Court in the case of CIT Vs Indo Nippon Chemical Co. Ltd. 245 ITR 384 that Modvat credit is relatable to the raw material consumed and therefore, the Assessing Officer was wrong in calculating Modvat credit on the basis of purchase cost and in applying proviso to section 145(1). This decision of Hon'ble Bombay High Court has been approved by Hon'ble Supreme Court in the case of CIT Vs. Indo Nippon Chemicals Ltd 261…

Kisan Discretionary Family Trust, Ahmedabad vs. The ACIT., Circle-10, Ahmedabad

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

ITA 324/AHD/2012[1999-00]Status: DisposedITAT Ahmedabad15 Jul 2019AY 1999-00

Bench: A Coordinate Bench Of This Tribunal In The First Round, The Matter Was Remitted To The File Of The Assessing Officer With The Observations As Follows:

Section 143(3)Section 145Section 145A

…assessee has been reduced and there is also no violation of section 145A of the Income Tax Act, 1961. The ld. CIT(Appeals), further observed that the reliance of the assessee on Mumbai High Court’s decision in the case of CIT vs. Indo Nippon Chemicals Co.Ltd. 245 ITR 384 (Mum.) which was upheld by the Hon'ble Supreme Court in the case of CIT vs. Indo Nippon Chemicals Co.Ltd. 261 ITR 275, is fully justified. Accordingly, he deleted the addition of Rs.18.84 crores made by the Assessing Officer on account of understatement of profit by way of including MODVAT credit in valuation of purchases. 14. The Ld. Department…

Triton Valves Ltd, Bangalore vs. Assistant Commissioner of Income Tax, Bangalore

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

ITA 1629/BANG/2014[2010-11]Status: DisposedITAT Bangalore07 Jun 2019AY 2010-11

Bench: Shri J. Sudhakar Reddy & Smt. Beena Pillaiassessment Year : 2010-11

For Appellant: Shri G. Venkatesh, AdvocateFor Respondent: Shri Vikas Suryavamshi, Addl.CIT(DR)(ITAT), Bengaluru

…that the opening stock, purchases as well as sales have to be valued on the same basis as the closing stock is valued in the inclusive method of accounting. For this purpose, he relied on the following case laws:- 1. CIT v Indo Nippon Chemical Co. Ltd [2000] 245 ITR 384 (Bom.) 2. CIT v Mahavir Aluminum Ltd [2008] 297 ITR 77 (Del.) 3. ACIT v Kunkel Wagner (I) (P.) Ltd., [2011] 11 taxmann.com 405 (Mum.) 4. Clariant (India) Ltd. V ITO-6(2)(2) [2011] 9 taxmann.com 221 (Mum.) 5. R.R. Kabel Ltd., v ACIT, 7(2), Mumbai [2012] 25 taxmann.com 559 (Mum.) 6. Ciba India Ltd., v DCIT, [2015] 59 taxmann.com 29 (Mum. - Trib.) 7…

Kansai Nerolac Paints Ltd, Mumbai vs. Addl CIT RG 6(2), Mumbai

ITA 7196/MUM/2013[2007-08]Status: DisposedITAT Mumbai15 May 2019AY 2007-08

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6789/Mum/2013 (नििाारण वर्ा / Assessment Year: 2007-08) बिाम/ Dcit Circle -6(2) M/S. Kansai Nerolac Paints Ltd., R.No. 563, Aayakar Bhavan, Nerolac House, K.G. Marg, M.K. Road, Churchgate, V. Lower Parel, Mumbai-400020 Mumbai-400013 स्थायी ऱेखा सं./ Pan :Aaacg1376N (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. आयकर अपीऱ सं./I.T.A. No.7196/Mum/2013 (नििाारण वर्ा / Assessment Year: 2007-08) बिाम/ M/S. Kansai Nerolac Paints Addl. Cit Circle -6(2) Ltd., R.No. 669, Nerolac House, K.G. Marg, Aayakar Bhavan, V. Lower Parel, Mumbai 400013 M.K. Road, Mumbai- 400020 स्थायी ऱेखा सं./ Pan : Aaacg1376N (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Ms. Aarti VissanjiFor Respondent: Shri. Rignesh K. Das (DR)
Section 143(3)Section 144C(3)Section 145ASection 14A

…seized of AY 1989-90 which was prior to introduction of Section 145A by Finance Act, 1998 w.e.f. 01.04.1999. Incidentally when earlier Hon‟ble Bombay High Court was adjudicating appeal in the case of CIT v. Indo Nippon Chemicals Co. Limited reported in (2000) 245 ITR 384(Bom.) which related to AY 1989-00, it was brought to the notice of Hon‟ble Bombay High Court that there was newly inserted Section 145A of the 1961 Act by Finance Act(No. 2) , 1998 w.e.f. 01.04.1999, where in Hon‟ble Bombay High Court held in para 10 , as under: “10. Before concluding, we may mention that, in rejoinder, the learned counsel for t…

DCIT 6(2), Mumbai vs. Kansai Nerolac Paints Ltd, Mumbai

ITA 6789/MUM/2013[2007-08]Status: DisposedITAT Mumbai15 May 2019AY 2007-08

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6789/Mum/2013 (नििाारण वर्ा / Assessment Year: 2007-08) बिाम/ Dcit Circle -6(2) M/S. Kansai Nerolac Paints Ltd., R.No. 563, Aayakar Bhavan, Nerolac House, K.G. Marg, M.K. Road, Churchgate, V. Lower Parel, Mumbai-400020 Mumbai-400013 स्थायी ऱेखा सं./ Pan :Aaacg1376N (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. आयकर अपीऱ सं./I.T.A. No.7196/Mum/2013 (नििाारण वर्ा / Assessment Year: 2007-08) बिाम/ M/S. Kansai Nerolac Paints Addl. Cit Circle -6(2) Ltd., R.No. 669, Nerolac House, K.G. Marg, Aayakar Bhavan, V. Lower Parel, Mumbai 400013 M.K. Road, Mumbai- 400020 स्थायी ऱेखा सं./ Pan : Aaacg1376N (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Ms. Aarti VissanjiFor Respondent: Shri. Rignesh K. Das (DR)
Section 143(3)Section 144C(3)Section 145ASection 14A

…seized of AY 1989-90 which was prior to introduction of Section 145A by Finance Act, 1998 w.e.f. 01.04.1999. Incidentally when earlier Hon‟ble Bombay High Court was adjudicating appeal in the case of CIT v. Indo Nippon Chemicals Co. Limited reported in (2000) 245 ITR 384(Bom.) which related to AY 1989-00, it was brought to the notice of Hon‟ble Bombay High Court that there was newly inserted Section 145A of the 1961 Act by Finance Act(No. 2) , 1998 w.e.f. 01.04.1999, where in Hon‟ble Bombay High Court held in para 10 , as under: “10. Before concluding, we may mention that, in rejoinder, the learned counsel for t…

ITO 2(1)(1), Mumbai vs. Abbott India Ltd, Mumbai

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

ITA 4881/MUM/2010[2004-05]Status: DisposedITAT Mumbai24 Aug 2018AY 2004-05
Section 143(2)Section 143(3)Section 14ASection 35ASection 80HSection 80I

…assessee by the decision of ITAT, Mumbai Bench “C” in assessee’s own case for AY 1998-99 in ITA No.1421/Mum/2002 dated 14-05-2008 where the ITAT, by following the decision of the jurisdictional High Court in the case of CIT vs Indo Nippon Chemicals Co Ltd 245 ITR 384 (Bom) deleted the addition made by the AO towards addition on account of revaluation of closing stock including unused Modvat credit. The Ld.DR present for the revenue fairly accepted that the issue is covered in favour of the assessee by the decision of ITAT, Mumbai Bench “C” in assessee’s own case for AY 1998-99. 5. We have heard both the p…

Maharashtra Stae Road Development Corporation Td, Mumbai vs. DCIT 5(2), Mumbai

ITA 4900/MUM/2011[2002-03]Status: DisposedITAT Mumbai25 Jan 2018AY 2002-03

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Years: 2002-03 Dcit-5(2), M/S Maharashtra State Road R. No.571, Development Corporation बनाम/ Aayakar Bhavan, Limited, Vs. M.K. Road, Pwd Compound, Near Mumbai-400020 Priyadarshni Park, Nepeansea Road, Mumbai-400036 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaacm6833C Assessment Years: 2002-03 M/S Maharashtra State Dcit-5(2), Road Development R. No.571, बनाम/ Corporation Limited, Aayakar Bhavan, Vs. Pwd Compound, Near M.K. Road, Priyadarshni Park, Mumbai-400020 Nepeansea Road, Mumbai-400036 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacm6833C "नधा"रती क" ओर से / Assessee By Shri B.S. Sharma & Shri Dalpat Shah राज"व क" ओर से / Revenue By Shri Narendra Singh Janpangi-Dr

Section 139Section 142Section 143Section 147Section 148

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ‘बी’,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, ‘B’ MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी राजेश कुमार, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Rajesh Kumar, Accountant Member Assessment Years: 2002-03 DCIT-5(2), M/s Maharashtra State Road R. No.571, Development Corporation बनाम/ Aayakar Bhavan, Limited, Vs. M.K. Road, PWD Compound, Near Mumbai-400020 Priyadarshni Park, Nepeansea Road, Mumbai-400036 (राज"व /Revenue) ("नधा"रती /Assessee) PAN. No.AAACM6833C Assessment Years: 2002-03 M/s Maharashtra State DCIT-5(2), Road Develo…

DCIT 5(2), Mumbai vs. Maharashtra State Road Development Corporation Ltd, Mumbai

ITA 4519/MUM/2011[2002-03]Status: DisposedITAT Mumbai25 Jan 2018AY 2002-03

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Years: 2002-03 Dcit-5(2), M/S Maharashtra State Road R. No.571, Development Corporation बनाम/ Aayakar Bhavan, Limited, Vs. M.K. Road, Pwd Compound, Near Mumbai-400020 Priyadarshni Park, Nepeansea Road, Mumbai-400036 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaacm6833C Assessment Years: 2002-03 M/S Maharashtra State Dcit-5(2), Road Development R. No.571, बनाम/ Corporation Limited, Aayakar Bhavan, Vs. Pwd Compound, Near M.K. Road, Priyadarshni Park, Mumbai-400020 Nepeansea Road, Mumbai-400036 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacm6833C "नधा"रती क" ओर से / Assessee By Shri B.S. Sharma & Shri Dalpat Shah राज"व क" ओर से / Revenue By Shri Narendra Singh Janpangi-Dr

Section 139Section 142Section 143Section 147Section 148

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ‘बी’,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, ‘B’ MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी राजेश कुमार, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Rajesh Kumar, Accountant Member Assessment Years: 2002-03 DCIT-5(2), M/s Maharashtra State Road R. No.571, Development Corporation बनाम/ Aayakar Bhavan, Limited, Vs. M.K. Road, PWD Compound, Near Mumbai-400020 Priyadarshni Park, Nepeansea Road, Mumbai-400036 (राज"व /Revenue) ("नधा"रती /Assessee) PAN. No.AAACM6833C Assessment Years: 2002-03 M/s Maharashtra State DCIT-5(2), Road Develo…

Aditya Birla Retail Ltd, Mumbai vs. ITO 2(2)4, Mumbai

In the result, assessee’s appeal is partly allowed

ITA 4086/MUM/2013[2009-10]Status: DisposedITAT Mumbai29 Nov 2017AY 2009-10

Bench: Shri Saktijit Dey & Shri N.K. Pradhan

For Appellant: Shri Percy PardiwalaFor Respondent: Shri Alok Johri

…disallowance made in the preceding assessment year has made the impugned disallowance. However, the learned Commissioner (Appeals) following the decision of 18 M/s. Parle Products Ltd. the Hon'ble Jurisdictional High Court in Indo Nippon Chemicals Co. Ltd., 245 ITR 384 (Bom.) deleted the addition. 34. Learned Counsels appearing before us have agreed that the issue stands decided in favour of the assessee by the decision of the Hon'ble Supreme Court in CIT v/s Indo Nippon Chemicals Co. Ltd., [2003] 261 ITR 275 (SC). Considering the aforesaid submissions of the parties, we uphold the order of the learned Commiss…

CIT v. Indo Nippon Chemicals Co. Limited (245 ITR 384) — Cited in 25 Judgments | BharatTax