CIT v. Insilco Ltd.

320 ITR 322High Court2009#2314 most cited

What is CIT v. Insilco Ltd. authority for?

Discounts allowed to customers constitute a lesser realization of the sale price and are not to be treated as an expenditure.

50

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Insilco Ltd. · Insilco Ltd. · 320 ITR 322 · discounts allowed to customers · lesser realization of sale price · not an expenditure · business income computation · revenue recognition · sale price reduction

Also reported as

179 Taxmann 55

Sections most often in play

Section 10ASection 10AASection 194RSection 40(a)(ia)Section 92CA(3)Section 10(2A)Section 10A(4)Section 10AA(7)
Read the full judgment

Issues it is cited on

recognised provident fundsection 50bsection 43b(f)approved gratuity fundsection 40a(9)section 211wholly and exclusively for businesssection 35dsection 23aretention moneyslump salesection 32(1)(ii)

Judgments citing CIT v. Insilco Ltd.

Mahindra World City Developers Ltd., Chennai vs. ACIT, Chennai

In the result, the corresponding grounds of the assessee are

ITA 2084/CHNY/2016[2010-11]Status: DisposedITAT Chennai27 Jun 2018AY 2010-11

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकरअपीलसं/.I.T.A. Nos. 2084, 2085 & 2086/Chny/2016 "नधा"रणवष"/Assessment Years : 2010-11 To 2012-13

For Respondent: Mrs. Ruby George, CIT
Section 14A

…आयकर अपील"य अ"धकरण ,’बी’ "यायपीठ,चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHENNAI "ी एन. आर. एस .गणेशन, "या"यक सद"य एवं "ी एस जयरामन, लेखा सद"यके सम# BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकरअपीलसं/.I.T.A. Nos. 2084, 2085 & 2086/Chny/2016 "नधा"रणवष"/Assessment Years : 2010-11 to 2012-13 Shri Mahindra World City Developers Ltd., Assistant Commissioner of Income Mandindra Towers, Vs. Tax, Ground Floor, Company Circle IV(1), 17/18 Pattulous Road, Chennai – 600 034. Anna Salai, Chennai – 600 002. [PAN: AAACM 6904A] (अपीलाथ"/Appellant) (""यथ"/Respondent)…

DCIT, New Delhi vs. M/S. Ntpc- Sail Power Co. Pvt. Ltd., New Delhi

In the result, appeal of the Revenue is dismissed

ITA 5717/DEL/2014[2010-11]Status: DisposedITAT Delhi26 Sept 2017AY 2010-11

Bench: Shri N.K. Saini & Shri K.N. Chary

Section 115JSection 36(1)(iii)Section 43B

…iance on the decisions of the Hon’ble Apex Court in Calcutta Co. Ltd. vs. CIT 37 ITR 1, Metal Box Co. of India Ltd. vs. Their workmen 73 ITR 53 and Bharat Earth Movers Ltd. vs. CIT 245 ITR 428, CIT vs. Insilco Ltd. 197 Taxman 55. 6. In CIT vs. Insilco Ltd. 320 ITR 322/ 222 CTR 641 the Hon’ble Jurisdictional High Court on a review of a case law clearly held 7 that the liability providing for service awards payable in future is an allowable liability. In view of this, we find that there is no illegality or perversity in the orders of the Ld. CIT (A), as such, we uphold the same and dismissed grounds no. 3 & 4…

M/S. Kla India Public Ltd., Delhi vs. JCIT, Rohtak

In the result, the appeal of the assessee is allowed

ITA 3332/DEL/2014[2010-11]Status: DisposedITAT Delhi30 Mar 2017AY 2010-11

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

For Appellant: Sh. Gautam Jain, AdvocateFor Respondent: Sh. Umesh Chand Dubey, Sr. DR

…TR 452 (Ker) ii) CIT vs. Oswal Woollen Mills Ltd., 206 CTR 141 (P&H) iii). CIT vs. Nahar Export Ltd., 296 ITR 419, 296 ITR 419 (P&H) iv). Capital Bus Service (P) Ltd. v. CIT, 123 ITR 404. v). CIT v. Oswal Agro Mills Ltd., 341 ITR 467 vi). CIT v. Insilco Ltd., 320 ITR 322 vii). CIT v. Radio Today Broadcasting Ltd., 382 ITR 42 (Del.) viii). CIT v. Soughern Petrochemical Industries Corpn. Ltd. 292 ITR 362 6. It was also submitted that even otherwise the ld. CIT(A) failed to appreciate that sortex machine and generator were also plant and machinery and form the part of block of asset and therefore, there is no just…

DCIT, New Delhi vs. M/S National Fertilizers Ltd., New Delhi

In the result, appeals filed by the Revenue are dismissed and the appeals filed by the assessee are allowed for all the Assessment Years

ITA 3947/DEL/2013[2006-07]Status: DisposedITAT Delhi31 May 2016AY 2006-07

Bench: Shri N. K. Saini & Smt. Beena A. Pillai

For Appellant: Shri Ved Jain, AdvFor Respondent: Shri Sunil Chander Sharma, CIT DR
Section 145Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘E’, NEW DELHI BEFORE SHRI N. K. SAINI, ACCOUNTANT MEMBER AND SMT. BEENA A. PILLAI, JUDICIAL MEMBER I.T.A. Nos.3947, 3948 & 3949/Del/2013 (Assessment Years 2006-07, 2007-08 & 2008-09) DCIT, Circle 13(1), Vs. M/s. National Fertilizes Ltd., New Delhi Core-III, Scope Complex, 7, Industrial Area, Lodi Road, New Delhi GIR / PAN :AAACN0189N I.T.A.Nos.3520, 3519, 3518 & 3517/Del/2013 (Assessment Years 2006-07, 2007-08, 2008-09 & 2009-10 respectively) M/s. National Fertilizers Ltd., Vs. DCIT, Circle 13(1), Core III, Scope Complex, New Delhi 7, Industrial Area, Lodi Road,…

M/S National Fertilizer Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeals filed by the Revenue are dismissed and the appeals filed by the assessee are allowed for all the Assessment Years

ITA 3520/DEL/2013[2006-07]Status: DisposedITAT Delhi31 May 2016AY 2006-07

Bench: Shri N. K. Saini & Smt. Beena A. Pillai

For Appellant: Shri Ved Jain, AdvFor Respondent: Shri Sunil Chander Sharma, CIT DR
Section 145Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘E’, NEW DELHI BEFORE SHRI N. K. SAINI, ACCOUNTANT MEMBER AND SMT. BEENA A. PILLAI, JUDICIAL MEMBER I.T.A. Nos.3947, 3948 & 3949/Del/2013 (Assessment Years 2006-07, 2007-08 & 2008-09) DCIT, Circle 13(1), Vs. M/s. National Fertilizes Ltd., New Delhi Core-III, Scope Complex, 7, Industrial Area, Lodi Road, New Delhi GIR / PAN :AAACN0189N I.T.A.Nos.3520, 3519, 3518 & 3517/Del/2013 (Assessment Years 2006-07, 2007-08, 2008-09 & 2009-10 respectively) M/s. National Fertilizers Ltd., Vs. DCIT, Circle 13(1), Core III, Scope Complex, New Delhi 7, Industrial Area, Lodi Road,…

(Now Pernod Ricard India Pvt.Ltd.)

The appeals are dismissed but in the circumstances with no order as to

ITA/900/2009HC Delhi06 Oct 2015
Section 260A

…ITA Nos. 898, 899, 900 & 901 of 2009 & 237 of 2015 Page 1 of 17 $~ * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on: September 23, 2015 Date of decision: October 06, 2015 ITA 898/2009 SEAGRAM DISTILLERIES PVT. LTD (NOW PERNOD RICARD INDIA PVT.LTD.) ..... Appellant Through: Mr. Deepak Chopra, Mr Aditya Gupta, and Ms Neha Singh, Advocates. versus COMMISSIONER OF INCOME TAX- III, NEW DELHI ..... Respondent Through: Mr. Kamal Sawhney, Senior Standing counsel with…

(Now Pernod Ricard India Pvt.Ltd.)

The appeals are dismissed but in the circumstances with no order as to

ITA/901/2009HC Delhi06 Oct 2015
Section 260A

…ITA Nos. 898, 899, 900 & 901 of 2009 & 237 of 2015 Page 1 of 17 $~ * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on: September 23, 2015 Date of decision: October 06, 2015 ITA 898/2009 SEAGRAM DISTILLERIES PVT. LTD (NOW PERNOD RICARD INDIA PVT.LTD.) ..... Appellant Through: Mr. Deepak Chopra, Mr Aditya Gupta, and Ms Neha Singh, Advocates. versus COMMISSIONER OF INCOME TAX- III, NEW DELHI ..... Respondent Through: Mr. Kamal Sawhney, Senior Standing counsel with…

(Now Pernod Ricard India Pvt.Ltd.)

The appeals are dismissed but in the circumstances with no order as to

ITA/899/2009HC Delhi06 Oct 2015
Section 260A

…ITA Nos. 898, 899, 900 & 901 of 2009 & 237 of 2015 Page 1 of 17 $~ * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on: September 23, 2015 Date of decision: October 06, 2015 ITA 898/2009 SEAGRAM DISTILLERIES PVT. LTD (NOW PERNOD RICARD INDIA PVT.LTD.) ..... Appellant Through: Mr. Deepak Chopra, Mr Aditya Gupta, and Ms Neha Singh, Advocates. versus COMMISSIONER OF INCOME TAX- III, NEW DELHI ..... Respondent Through: Mr. Kamal Sawhney, Senior Standing counsel with…

(Now Pernod Ricard India Pvt.Ltd.)

The appeals are dismissed but in the circumstances with no order as to

ITA/898/2009HC Delhi06 Oct 2015
Section 260A

…ITA Nos. 898, 899, 900 & 901 of 2009 & 237 of 2015 Page 1 of 17 $~ * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on: September 23, 2015 Date of decision: October 06, 2015 ITA 898/2009 SEAGRAM DISTILLERIES PVT. LTD (NOW PERNOD RICARD INDIA PVT.LTD.) ..... Appellant Through: Mr. Deepak Chopra, Mr Aditya Gupta, and Ms Neha Singh, Advocates. versus COMMISSIONER OF INCOME TAX- III, NEW DELHI ..... Respondent Through: Mr. Kamal Sawhney, Senior Standing counsel with…

(Now Pernod Ricard India Pvt.Ltd.)

The appeals are dismissed but in the circumstances with no order as to

ITA/237/2015HC Delhi06 Oct 2015
Section 260A

…ITA Nos. 898, 899, 900 & 901 of 2009 & 237 of 2015 Page 1 of 17 $~ * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on: September 23, 2015 Date of decision: October 06, 2015 ITA 898/2009 SEAGRAM DISTILLERIES PVT. LTD (NOW PERNOD RICARD INDIA PVT.LTD.) ..... Appellant Through: Mr. Deepak Chopra, Mr Aditya Gupta, and Ms Neha Singh, Advocates. versus COMMISSIONER OF INCOME TAX- III, NEW DELHI ..... Respondent Through: Mr. Kamal Sawhney, Senior Standing counsel with…