CIT v. J.K. Hosiary Factory

159 ITR 85Supreme Court of India1986#11180 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2023.

Judgments citing CIT v. J.K. Hosiary Factory

CPI INDIA I LIMITED,MUMBAI vs. ACIT, INT.TAX. CIRCLE-1(2)(1), DELHI

In the result, the appeal is partly allowed, as indicated

ITA 382/DEL/2023[2016-17]Status: DisposedITAT Delhi21 Nov 2023AY 2016-17

Bench: Shri G.S. Pannu, Vice- & Shri Saktijit Dey, Vice-Assessment Year: 2016-17 . Cpi India Ltd., Vs. Acit, C/O- Vasa Chauhan & International Taxation, Associates Off. No. 41, Circle -1(2)1), 3Rd Floor, High Life Premises, Delhi P.M. Road, Santacruz West, Mumbai Pan :Aadcc1505G (Appellant) (Respondent)

Section 112(1)(c)Section 144C(13)Section 147Section 148Section 48Section 48(1)

…, he submitted, when two interpretations are possible, the views favourable to the assessee needs to be adopted. For such proposition, he relied upon the following decisions: 1) CIT Vs. Vegetable Products Ltd. 88 ITR 192 (SC) 2) CIT Vs. J.K. Hosiery Factory, 159 ITR 85 (SC) 8. Without prejudice, learned counsel submitted, the assessee, being a tax resident of Mauritius holding a valid TRC is entitled to treaty benefits. He submitted, there is not disputed between the parties that the shares, sales of which, resulted in capital gain were purchased by the assessee prior to 01.04.2017. Thus, he submitted, in te…

SHRI JALENDRA SAHOO,CUTTACK vs. ITO, WARD-2(3), BHUBANESWAR

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

ITA 9/CTK/2017[2010-11]Status: DisposedITAT Cuttack16 Oct 2019AY 2010-11

Bench: Shri Chandra Mohan Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita No.09/Ctk/2017 (नििाारण वषा / Assessment Year :2010-2011) Shri Jalendra Sahoo, Vs. Ito, Ward-2(3), At-Kirtania, N.M.Padia, Bhubaneswar Bhogarai, Balasore-756081 स्थायी ऱेखा सं./ Pan No. : Blxps 3197 M (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri S.N.Sahu, AdvocateFor Respondent: Shri Subhendu Dutta, DR
Section 143(3)Section 37

…stant case. It is settled law decided by Hon'ble Supreme Court of India that where ' there are two reasonable views the one favourable to the assessee has to be adopted. 1. CIT Vs. Vegetable Products Vs. CIT, 88 ITR 192 (SC) 2. CIT Vs. J.K. Hoisary Factory, 159 ITR 85 (SC) 3. Union of India Vs. Omkar S. Kanwar, 258 ITR 761 (SC) It is the law that the expenses incurred to earn a particular income is deductable and the net income which is the "real income" which comes to the pocket of the assessee is only taxable. Section. 37(1) of the IT. Act, 1961 reads : - "Any expenditure ( not being expenditure of the natur…

SIGFRIEDE INFOTECH P.LTD,MUMBAI vs. ITO 10(3)(3), MUMBAI

In the result the grounds of the appeal

ITA 7545/MUM/2013[2010-11]Status: DisposedITAT Mumbai22 May 2019AY 2010-11

Bench: Shri G.S. Pannu, Vice- & Shri Pawan Singhm/S Sigfriede Infotech Pvt. Ito-10(3)(3) Ltd. (Formerly Known As Aayakar Bhavan, Techstar Infotech (India) Pvt. Vs. M.K. Road, Ltd.) 156, Bhandup Village Mumbai-400020. Road, Next To Wmi Cranes Road, Bhandup, West Mumbai-400068. Pan: Aabct7637C Appellant Respondent Appellant By : Shri Vijay Mehta & Anuj Kushandwala-(Ar) Respondent By : Shri Sachchidanand Dube (Dr) Date Of Hearing : 30.04.2019 Date Of Pronouncement : 22.05.2019 Order Under Section 254(1)Of Income Tax Act Per Pawan Singh; 1. This Appeal By Assessee Is Directed Against The Order Of Ld. Commissioner (Appeals)-22 Mumbai, Dated 15Th Of October 2013 Which In Turn Arises From Assessment Order Passed Under Section 143(3) On 12Th November

For Appellant: Shri Vijay Mehta &For Respondent: Shri Sachchidanand Dube (DR)
Section 143(3)Section 254(1)

…s of the Apex Court : CIT v. Vegetable ITA No. 7445/Mum/2013-M/s Sigfriede Infotech Pvt. Ltd. Product Ltd. [1973] 88 ITR 192, CIT v. Naga Hills Tea Co. Ltd. [1973] 89 ITR 236, CIT v. Madho Prasad Jatia [1976] 105 ITR 179, CIT v. J.K. Hosiery Factory [1986] 159 ITR 85, Smt. Shashi Gupta v. LIC of India [1995] 84 Comp. Cas. 436, therefore, following the same, it has to be held that mesne profit received for deprivation of use and occupation of property would be capital receipt not chargeable to tax. We hold accordingly. Consequently, the decision of the Special Bench of the Tribunal in the case of Sushil Kumar &…

ITO, WARD - 13(3), KOLKATA , KOLKATA vs. M/S. POREL DASS WATER & EFFLUENT CONTROL PVT. LTD., , HOWRAH

In the result, the appeal filed by the assessee in I

ITA 2441/KOL/2017[2013-14]Status: DisposedITAT Kolkata06 Mar 2019AY 2013-14

Bench: Shri A.T.Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1354/Kol/2015 ("नधा"रणवष" / Assessment Year: 2012-13)

For Appellant: Shri Sanjay Bhattacharya, ARFor Respondent: Shri Sanjit Kumar Das, Addl.CIT Sr. DR
Section 143(3)Section 80I

…per the copy enclosed with form No. 10CCB. The assessee company also claimed that it fulfilled all the conditions of section 80IA(4)(i) of the Act. Apart from this, the assessee company relied its contention in the case of CIT vs. J.K. Hosiary Factory [1986] 159 ITR 85(SC), Mysore Minerals Ltd. [1999] 239 ITR 775 (SC), CIT vs. Radha Devi Poddar [1991] 185 ITR 544 (Cal) etc. Porel Dass Water & Effluent Control Pvt. Ltd. ITA No.2402/Kol/2016& ITANo.2441/Kol/2017 Assessment Years: 2012-13,2011-12&2013-14 However, the above justification and contentions of the assessee regarding its claim for deduction under 80IA (4…

POREL DASS WATER & EFFLUENT PVT. LTD.,HOWRAH vs. ITO, WARD 1(4)/ KOLKATA, KOLKATA

In the result, the appeal filed by the assessee in I

ITA 2402/KOL/2016[2011-2012]Status: DisposedITAT Kolkata06 Mar 2019AY 2011-2012

Bench: Shri A.T.Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1354/Kol/2015 ("नधा"रणवष" / Assessment Year: 2012-13)

For Appellant: Shri Sanjay Bhattacharya, ARFor Respondent: Shri Sanjit Kumar Das, Addl.CIT Sr. DR
Section 143(3)Section 80I

…per the copy enclosed with form No. 10CCB. The assessee company also claimed that it fulfilled all the conditions of section 80IA(4)(i) of the Act. Apart from this, the assessee company relied its contention in the case of CIT vs. J.K. Hosiary Factory [1986] 159 ITR 85(SC), Mysore Minerals Ltd. [1999] 239 ITR 775 (SC), CIT vs. Radha Devi Poddar [1991] 185 ITR 544 (Cal) etc. Porel Dass Water & Effluent Control Pvt. Ltd. ITA No.2402/Kol/2016& ITANo.2441/Kol/2017 Assessment Years: 2012-13,2011-12&2013-14 However, the above justification and contentions of the assessee regarding its claim for deduction under 80IA (4…

POREL DASS WATER & EFFLUENT CONTROL PVT. LTD.,HOWRAH vs. ITO, WD-13(3), KOLKATA, LUCKNOW

In the result, the appeal filed by the assessee in I

ITA 1354/KOL/2015[2012-2013]Status: DisposedITAT Kolkata06 Mar 2019AY 2012-2013

Bench: Shri A.T.Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1354/Kol/2015 ("नधा"रणवष" / Assessment Year: 2012-13)

For Appellant: Shri Sanjay Bhattacharya, ARFor Respondent: Shri Sanjit Kumar Das, Addl.CIT Sr. DR
Section 143(3)Section 80I

…per the copy enclosed with form No. 10CCB. The assessee company also claimed that it fulfilled all the conditions of section 80IA(4)(i) of the Act. Apart from this, the assessee company relied its contention in the case of CIT vs. J.K. Hosiary Factory [1986] 159 ITR 85(SC), Mysore Minerals Ltd. [1999] 239 ITR 775 (SC), CIT vs. Radha Devi Poddar [1991] 185 ITR 544 (Cal) etc. Porel Dass Water & Effluent Control Pvt. Ltd. ITA No.2402/Kol/2016& ITANo.2441/Kol/2017 Assessment Years: 2012-13,2011-12&2013-14 However, the above justification and contentions of the assessee regarding its claim for deduction under 80IA (4…

SH. SANJAY DALMIA,NEW DELHI vs. DCIT, NEW DELHI

In the result all the appeal filed by the assessee are dismissed

ITA 3795/DEL/2014[2006-07]Status: DisposedITAT Delhi05 Oct 2017AY 2006-07

Bench: Shri H.S.Sidhu & Shri Prashant Maharishi

For Appellant: Shri Vinod Kumar Bindal, AdvFor Respondent: Shri SS Rana, CIT DR
Section 132Section 142(1)Section 153ASection 271Section 271(1)(b)

…t - Whether gifts, donor not being entirely excluded - Taxing statute - Taxing provision capable of more than one reasonable interpretation - That beneficial to subject to be adopted - Estate Duty Act, 1953, ss. 10, 12. iii) CIT Vs J.K. Hosiery Factory (1986) 159 ITR 85 (SC) Depreciation - Unabsorbed depreciation of unregistered firm - Firm Registered next year - Unabsorbed depreciation can be carried forward - Indian Income-tax Act, 1922, ss. 10(2)(vi), Prov. Cl. (b); 24(2), Prov. (b). Interpretation of statutes - Taxing statutes - Doubt - Assessee entitled to interpretation favourable to him. iv) CIT vs. Poddar…

SETH PROPERTIES,MUMBAI vs. ITO 12(1)(3), MUMBAI

Appeal is dismissed

ITA 2991/MUM/2013[2007-08]Status: DisposedITAT Mumbai04 Oct 2017AY 2007-08

Bench: Shri Joginder Singh & Shri G. Manjunatha

…ucts Ltd. 1973 CTR (SC) 177 : (1973) 88 ITR 192 (SC), CIT vs. Naga Hills Tea Co. Ltd. 1973 CTR (SC) 329 : (1973) 89 ITR 236 (SC), CIT vs. Madho Pd. Jatia 1976 CTR (SC) 438 : (1976) 105 ITR 179 (SC), CIT vs. J.K. Hosiery Factory (1986) 52 CTR (SC) 142 : (1986) 159 ITR 85 (SC) and Shashi Gupta vs. LIC 84 Comp Cas 436 applied. (Paras 48 & 49) Conclusion: Mesne profits awarded under decree of Court by way of compensation for wrongful possession of property after termination of leave and licence agreement is capital receipt not chargeable to tax.” 3.4. It is also noted that the Mumbai Bench of the tribunal, the case…

BSES RAJDHANI POWER LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal is partly allowed

ITA 3688/DEL/2011[2005-06]Status: DisposedITAT Delhi05 Oct 2015AY 2005-06

Bench: Shri I.C. Sudhir & Shri Inturi Rama Rao Assessment Year : 2005-06 Bses Rajdhani Power Ltd., Vs. Assistant Cit, Bses Bhawan, Nehru Place, Circle-3(1), New Delhi. New Delhi. (Pan: Aagcs3187H) (Appellant) (Respondent) Assessment Year: 2005-06 Deputy Cit, Vs. Bses Rajdhani Power Ltd., Circle 3(1), Bses Bhavan, Nehru Place, New Delhi. New Delhi. (Pan: Aagcs3187H) (Appellant) (Respondent) Assessment Year : 2006-07 Bses Rajdhani Power Ltd., Vs. Assistant Cit, Bses Bhawan, Nehru Place, Circle-3(1), New Delhi. New Delhi. (Pan: Aagcs3187H) (Appellant) (Respondent) Assessment Year: 2006-07 Deputy Cit, Vs. Bses Rajdhani Power Ltd., Circle 3(1), Bses Bhavan, Nehru Place, New Delhi. New Delhi. (Pan: Aagcs3187H) (Appellant) (Respondent)

Section 154

…the benefit of doubt, if any, should be given to the assessee and the interpretation beneficial to the taxpayer should be accepted. Reference was made to the following cases: - CIT v. Vegetable Products Ltd.: 88 ITR 192 (SC) - CIT vs. J.K.Hosiery Factory : 159 ITR 85 (SC) - ACIT v. Thanthi Trust: 247 ITR 785 (SC) - UOI v. Onkar Kanwar : 258 ITR 761 (SC) - CIT v. A. J. Abraham Anthraper : 268 ITR 417 (Ker) - Vijay Omprakash Bansal v. CIT : 257 ITR 649 (Bom) - CIT v. L.G Balakrishnan: 255 ITR 339 (Mad) - CIT v. Quantas Airlines Ltd.: 256 ITR 84 (Del) Southern Roadways Ltd. vs. CWT: 251 ITR 213 (Mad) 22.34 Havin…

CIT v. J.K. Hosiary Factory (159 ITR 85) — Cited in 9 Judgments | BharatTax