CIT v. K. Ravindranathan Nair

295 ITR 228Supreme Court of India2007#2017 most cited

What is CIT v. K. Ravindranathan Nair authority for?

The computation of deduction under Section 80HHC requires applying the formula: Profits derived from exports = (Profits of the business x Export Turnover) / Total Turnover. For this calculation, miscellaneous income, sundry sales, and income from services, if not directly relatable to export activity, are generally to be excluded from "profits of the business" and "total turnover".

57

judgments rely on this decision, according to BharatTax’s citation analysis of 366,421 Indian tax judgments — from 2011 to 2024.

Also referred to as

CIT v. K. Ravindranathan Nair · Section 80HHC deduction · computation of 80HHC profits · export turnover · total turnover · profits of the business · miscellaneous income · sundry sales · income from services · 295 ITR 228 · Section 80HHC(3)(a) · Explanation (baa) to 80HHC

Also reported as

165 Taxmann 282

Sections most often in play

Section 143(3)Section 115JBSection 120(4)(b)Section 124(3)Section 127Section 142(1)Section 143(1)Section 145A
Read the full judgment

Issues it is cited on

section 80hhc(3)illegal paymentsection 80absection 80hsection 80hhcsection 80hhexplanation to section 37computer softwaresection 80aprofits and gains of business or professionbook profitspenalty u/s 271(1)(c)

Judgments citing CIT v. K. Ravindranathan Nair

M/S. Singhal Enterprises Pvt Ltd., Kolkata vs. D.C.I.T., C.C. - 4(1), Kolkata.

In the result, the both the appeals of the assessee ( in ITA No

ITA 1072/KOL/2018[2014-15]Status: DisposedITAT Kolkata26 Feb 2020AY 2014-15

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.1071 & 1072/Kol/2018 ("नधा"रणवष" / Assessment Years:2013-14 &2014-15)

For Appellant: Shri A.K. Tulsiyan, CAFor Respondent: Shri Ram Bilash Meena, CIT
Section 143(3)Section 263Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “A”, BENCH KOLKATA BEFORE SHRI S.S.GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA Nos.1071 & 1072/Kol/2018 ("नधा"रणवष" / Assessment Years:2013-14 &2014-15) M/s Singhal Enterprises Pvt. Ltd. Vs. DCIT, CC-4(1), Kolkata 303, Century Towers, 45, Shakespare Sarani, Kolkata- 700017 "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AADCS 6988 F (Appellant) .. (Respondent) Appellant by : Shri A.K. Tulsiyan, CA Respondent by :Shri Ram Bilash Meena, CIT सुनवाईक"तार"ख/ Date of Hearing : 14/01/2020 घोषणाक"तार"ख/Date of Pronouncement : 26/02/2020 आदेश / O R D E R Per Dr. A.L. Saini, AM: The capti…

M/S. Singhal Enterprises Pvt Ltd., Kolkata vs. D.C.I.T., C.C. - 4(1), Kolkata.

In the result, the both the appeals of the assessee ( in ITA No

ITA 1071/KOL/2018[2013-14]Status: DisposedITAT Kolkata26 Feb 2020AY 2013-14

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.1071 & 1072/Kol/2018 ("नधा"रणवष" / Assessment Years:2013-14 &2014-15)

For Appellant: Shri A.K. Tulsiyan, CAFor Respondent: Shri Ram Bilash Meena, CIT
Section 143(3)Section 263Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “A”, BENCH KOLKATA BEFORE SHRI S.S.GODARA, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA Nos.1071 & 1072/Kol/2018 ("नधा"रणवष" / Assessment Years:2013-14 &2014-15) M/s Singhal Enterprises Pvt. Ltd. Vs. DCIT, CC-4(1), Kolkata 303, Century Towers, 45, Shakespare Sarani, Kolkata- 700017 "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AADCS 6988 F (Appellant) .. (Respondent) Appellant by : Shri A.K. Tulsiyan, CA Respondent by :Shri Ram Bilash Meena, CIT सुनवाईक"तार"ख/ Date of Hearing : 14/01/2020 घोषणाक"तार"ख/Date of Pronouncement : 26/02/2020 आदेश / O R D E R Per Dr. A.L. Saini, AM: The capti…

Seshasayee Paper and Boards Ltd., Erode vs. DCIT Namakkal Circle, Namakkal

In the result, the appeal of the assessee in ITA No

ITA 2834/CHNY/2017[2000-01]Status: DisposedITAT Chennai25 Feb 2020AY 2000-01

Bench: Shri Mahavir Singh & Shri M. Balaganesh

For Appellant: Mrs. Vijayaprabha, JCITFor Respondent: 25.02.2020
Section 143(3)Section 80H

…the CIT(A) which are given in para 6.1 as under: “6.1 The assessee has failed toa dduce any concrete evidence in support of their claim. The Assessing Officer has correctly relied on the Hon’ble Apex Court case laws in the case of CIT Vs. Ravindranathan Nair 295 ITR 228 and rejected the contentions of the assessee. I do not find any merit in the arguments of the assessee and hence there is no reason for me to interfere with the findings of the Assessing Officer. Hence this ground of appeal of the assessee is dismissed.” 5. In view of the above, the Ld. Counsel for the assessee stated that the CIT(A) has not adj…

ACIT Circle 1, Namakkal vs. Seshasayee Paper & Boards Ltd., Namakkal

In the result, the appeal of the assessee in ITA No

ITA 2775/CHNY/2017[2000-01]Status: DisposedITAT Chennai25 Feb 2020AY 2000-01

Bench: Shri Mahavir Singh & Shri M. Balaganesh

For Appellant: Mrs. Vijayaprabha, JCITFor Respondent: 25.02.2020
Section 143(3)Section 80H

…the CIT(A) which are given in para 6.1 as under: “6.1 The assessee has failed toa dduce any concrete evidence in support of their claim. The Assessing Officer has correctly relied on the Hon’ble Apex Court case laws in the case of CIT Vs. Ravindranathan Nair 295 ITR 228 and rejected the contentions of the assessee. I do not find any merit in the arguments of the assessee and hence there is no reason for me to interfere with the findings of the Assessing Officer. Hence this ground of appeal of the assessee is dismissed.” 5. In view of the above, the Ld. Counsel for the assessee stated that the CIT(A) has not adj…

Ig3 Infra Pvt. Ltd., Chennai vs. ACIT (OSD) Corporate Range 2, Chennai

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

ITA 770/CHNY/2019[2014-15]Status: DisposedITAT Chennai19 Aug 2019AY 2014-15

Bench: Shri George Mathan & Shri S. Jayaramanआयकर अपील सं./I.T.A.No.770/Chny/2019 ("नधा"रण वष" / Assessment Year: 2014-15) Vs The Acit(Osd), M/S. Ig3 Infra Pvt. Ltd., Chennai One, Pallavaram, Corporate Range – 2, Thoraipakkam 200 Feet Road, Chennai Thoraipakkam, Chennai – 600 097. Pan: Aabce2840C (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri G. Baskar, Advocate ""यथ" क" ओर से/Respondent By : Shri Ar.V. Sreenivasan, Jcit

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri AR.V. Sreenivasan, JCIT
Section 10ASection 80I

…the Ld.AR pleaded that the assessee’s appeal may be allowed. 4. Per contra, the Ld.DR taking us through the order of the Ld.CIT(A) submitted that the Ld.CIT(A) relying on various decisions of Hon’ble Supreme Court viz., CIT vs. K. Ravindranathan Nair [2007] 295 ITR 228 (SC), Liberty India vs. CIT [2008] 317 ITR 218 (SC) and the decision of the Hon’ble Jurisdictional High Court in CIT vs. Pandian Chemicals Ltd., [1998] 233 ITR 497 (Mad) held that the income earned from the activity of infrastructure facility alone is to be regarded as “derived from the business”. The immediate source of the interest income is th…

DCIT, New Delhi vs. M/S. Genpact Infrastructure (Hyderabad) Pvt. Ltd., New Delhi

ITA 2574/DEL/2016[2010-11]Status: DisposedITAT Delhi24 Apr 2019AY 2010-11

Bench: Shri R.K. Panda & Shri Kuldip Singh

For Appellant: NoneFor Respondent: Ms. Rinku Singh, Senior DR
Section 10A

…tc attributable to the delivery of articles or things, incurred in providing the services are to be excluded from the export turnover and not from the total turnover as laid down by the Hon'ble Apex Court in Commissioner Income tax vs. K. Ravindranathan Nair (295 ITR 228 (SC) and ITAT in the case of ITO vs. sak Soft Ltd. Chennai). 2. Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) is correct in reducing the migration/on job training expenses of Rs.4,77,99,177/- from the total turnover of the assessee ignoring the fact that the freight, telecom charges etc attributable to the delivery…

DCIT, New Delhi vs. M/S Sharp Menthol India Ltd., Delhi

Appeal is partly allowed for statistical purpose

ITA 3642/DEL/2008[2003-04]Status: DisposedITAT Delhi29 Nov 2018AY 2003-04

Bench: Shri R. K. Panda & Ms Suchitra Kamblesharp Mint Ltd. Vs Dcit (Formerly Known As Sharp Menthol Central Circle-22 India Ltd. & Thereafter As Sharp New Delhi Global Ltd.) 1St Floor, Sagar Entre, Plot No. 9, Gujranwalan Town New Delhi- 110009 (Appellant) (Respondent) Dcit Vs Sharp Mint Ltd. Central Circle-22 1St Floor, Sagar Entre, New Delhi Plot No. 9, Gujranwalan Town New Delhi- 110009 (Appellant) (Respondent)

Section 132Section 143(3)Section 153ASection 80H

…cts and in the circumstances of the case, the CIT(A) was legally correct in deleting the disallowance of deduction u/s 80HHC since the said disallowance was based on the reasoning of the Supreme Court decision in the case of K. Ravindranathan Nair reported in 295 ITR 228. 7. Whether on the facts and in the circumstances of the case, the CIT(A) has erred in law in not considering the decision of the Jurisdictional High Court in the case of Consolidated Photo & Finvest Ltd. Vs ACIT (281 ITR 394) which is squarely applicable to the facts of the case. 8. The order of the CIT(A) is erroneous and not tenable in law an…

Sharp Menthol India Ltd., New Delhi vs. DCIT, New Delhi

Appeal is partly allowed for statistical purpose

ITA 3624/DEL/2008[2004-05]Status: DisposedITAT Delhi29 Nov 2018AY 2004-05

Bench: Shri R. K. Panda & Ms Suchitra Kamblesharp Mint Ltd. Vs Dcit (Formerly Known As Sharp Menthol Central Circle-22 India Ltd. & Thereafter As Sharp New Delhi Global Ltd.) 1St Floor, Sagar Entre, Plot No. 9, Gujranwalan Town New Delhi- 110009 (Appellant) (Respondent) Dcit Vs Sharp Mint Ltd. Central Circle-22 1St Floor, Sagar Entre, New Delhi Plot No. 9, Gujranwalan Town New Delhi- 110009 (Appellant) (Respondent)

Section 132Section 143(3)Section 153ASection 80H

…cts and in the circumstances of the case, the CIT(A) was legally correct in deleting the disallowance of deduction u/s 80HHC since the said disallowance was based on the reasoning of the Supreme Court decision in the case of K. Ravindranathan Nair reported in 295 ITR 228. 7. Whether on the facts and in the circumstances of the case, the CIT(A) has erred in law in not considering the decision of the Jurisdictional High Court in the case of Consolidated Photo & Finvest Ltd. Vs ACIT (281 ITR 394) which is squarely applicable to the facts of the case. 8. The order of the CIT(A) is erroneous and not tenable in law an…

Sharp Menthol India Ltd., New Delhi vs. DCIT, New Delhi

Appeal is partly allowed for statistical purpose

ITA 3623/DEL/2008[2002-03]Status: DisposedITAT Delhi29 Nov 2018AY 2002-03

Bench: Shri R. K. Panda & Ms Suchitra Kamblesharp Mint Ltd. Vs Dcit (Formerly Known As Sharp Menthol Central Circle-22 India Ltd. & Thereafter As Sharp New Delhi Global Ltd.) 1St Floor, Sagar Entre, Plot No. 9, Gujranwalan Town New Delhi- 110009 (Appellant) (Respondent) Dcit Vs Sharp Mint Ltd. Central Circle-22 1St Floor, Sagar Entre, New Delhi Plot No. 9, Gujranwalan Town New Delhi- 110009 (Appellant) (Respondent)

Section 132Section 143(3)Section 153ASection 80H

…cts and in the circumstances of the case, the CIT(A) was legally correct in deleting the disallowance of deduction u/s 80HHC since the said disallowance was based on the reasoning of the Supreme Court decision in the case of K. Ravindranathan Nair reported in 295 ITR 228. 7. Whether on the facts and in the circumstances of the case, the CIT(A) has erred in law in not considering the decision of the Jurisdictional High Court in the case of Consolidated Photo & Finvest Ltd. Vs ACIT (281 ITR 394) which is squarely applicable to the facts of the case. 8. The order of the CIT(A) is erroneous and not tenable in law an…

ACIT, Gurgaon vs. M/S. Motorola India Pvt. Ltd., Gurgaon

In the result, appeal filed by the revenue is dismissed

ITA 4581/DEL/2011[2004-05]Status: DisposedITAT Delhi24 Aug 2018AY 2004-05

Bench: Smt Diva Singh & Shri Prashant Maharishimotorola India Pvt Ltd, Vs. Acit, Motorola Excellence Centre, Gurgaon Circle, 415/2, Sector-14, Mg Road, Gurgaon Gurgaon, Haryana Pan: Aaacm9343D (Appellant) (Respondent) Acit, Vs. Motorola India Pvt Ltd, Gurgaon Circle, Motorola Excellence Centre, Gurgaon 415/2, Sector-14, Mg Road, Gurgaon, Haryana Pan: Aaacm9343D (Appellant) (Respondent) Motorola Solutions India (P) Ltd, Vs. Acit, 415/2, Motorola Excellence Gurgaon Circle, Centre, Mg Road, Haryana Gurgaon Pan: Aaacm9343D (Appellant) (Respondent) Acit, Vs. Motorola Solutions India (P) Gurgaon Circle, Ltd, Gurgaon 415/2, Motorola Excellence Centre, Mg Road, Haryana Pan: Aaacm9343D (Appellant) (Respondent) Assessee By : Shri G.C. Srivastava, Adv Shri Suvinay K. Dash, Adv Revenue By: Shri Sanjay I Bara, Cit Dr Date Of Hearing 28/05/2018 Date Of Pronouncement 24/08/2018

For Appellant: Shri G.C. Srivastava, AdvFor Respondent: Shri Sanjay I Bara, CIT DR
Section 37Section 43BSection 80HSection 92C

…y nexus with export turnover and, therefore, the inclusion of such items in the profits of the business would result in a distortion of the figure of export profits. The High Court has relied on a decision of this court in CIT v. K. Ravindranathan Nair [2007] 295 ITR 228 (SC) in which the issue raised before this court was entirely different from the issue raised in this case. In that case, the assessee owned a factory in which he processed cashew nuts grown in his farm and he exported the cashew nuts as an exporter. At the same time, the assessee processed cashew nuts which were supplied to him by exporters on j…

Movement Impex Trading Co., Mumbai vs. ACIT 21(1), Mumbai

In the result, the appeals filed by the assessees are allowed in part for statistical purposes

ITA 5085/MUM/2013[2002-03]Status: DisposedITAT Mumbai25 Jul 2018AY 2002-03

Bench: Shri R.C. Sharma & Shri Amarjit Singh

For Appellant: Shri Vipul JoshiFor Respondent: Shri T.A. Khan
Section 143(3)

…26.03.2012 in part 2 of ITR Volume 342 wherein the order of the Hon'ble Bombay High Court relied on by AO in the case of IPCA Laboratory 266 ITR 521, was set aside and Supreme Court has followed the formula laid down in the case of CIT vs. Ravindranathan Nair 295 ITR 228 (SC). 14. In the substantial interest of justice, when the issue is clearly covered by the decision of the Hon'ble Supreme Court and the delay was sufficiently explained by placing on record the medical certificate and death certificate of the concerned accountant looking after the matter, matter required to be restored back to the file of CIT(A)…

ACIT, Ludhiana vs. M/S Vardhman Textiles Ltd., Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 575/CHANDI/2009[2005-06]Status: DisposedITAT Chandigarh04 May 2018AY 2005-06

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…over and, therefore, the inclusion of such items in the profits of the business would result in a distortion of the figure of export profits. The High Court has relied on a decision of this Court in Commissioner of Income-Tax v. K. Ravindranathan Nair [(2007) 295 ITR 228 (SC)] in which the issue raised before this Court was entirely different from the issue raised in this case. In that case, the assessee owned a factory in which he processed cashew nuts grown in his farm and he exported the cashew nuts as an exporter. At the same time, the assessee processed cashew nuts which were supplied to him by exporters on…

M/S Vardhman Textiles Ltd., Ludhiana vs. Addl. CIT, Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 528/CHANDI/2009[2005-06]Status: DisposedITAT Chandigarh04 May 2018AY 2005-06

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…over and, therefore, the inclusion of such items in the profits of the business would result in a distortion of the figure of export profits. The High Court has relied on a decision of this Court in Commissioner of Income-Tax v. K. Ravindranathan Nair [(2007) 295 ITR 228 (SC)] in which the issue raised before this Court was entirely different from the issue raised in this case. In that case, the assessee owned a factory in which he processed cashew nuts grown in his farm and he exported the cashew nuts as an exporter. At the same time, the assessee processed cashew nuts which were supplied to him by exporters on…

ACIT, Ludhiana vs. M/S Vardhman Textiles Ltd., Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 981/CHANDI/2008[2004-05]Status: DisposedITAT Chandigarh04 May 2018AY 2004-05

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…over and, therefore, the inclusion of such items in the profits of the business would result in a distortion of the figure of export profits. The High Court has relied on a decision of this Court in Commissioner of Income-Tax v. K. Ravindranathan Nair [(2007) 295 ITR 228 (SC)] in which the issue raised before this Court was entirely different from the issue raised in this case. In that case, the assessee owned a factory in which he processed cashew nuts grown in his farm and he exported the cashew nuts as an exporter. At the same time, the assessee processed cashew nuts which were supplied to him by exporters on…

Vardhman Textiles Ltd., Ludhiana vs. JCIT, Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 938/CHANDI/2008[2004-05]Status: DisposedITAT Chandigarh04 May 2018AY 2004-05

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…over and, therefore, the inclusion of such items in the profits of the business would result in a distortion of the figure of export profits. The High Court has relied on a decision of this Court in Commissioner of Income-Tax v. K. Ravindranathan Nair [(2007) 295 ITR 228 (SC)] in which the issue raised before this Court was entirely different from the issue raised in this case. In that case, the assessee owned a factory in which he processed cashew nuts grown in his farm and he exported the cashew nuts as an exporter. At the same time, the assessee processed cashew nuts which were supplied to him by exporters on…

ACIT, Ludhiana vs. M/S Vardhman Textiles Ltd., Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 530/CHANDI/2008[2003-04]Status: DisposedITAT Chandigarh04 May 2018AY 2003-04

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…over and, therefore, the inclusion of such items in the profits of the business would result in a distortion of the figure of export profits. The High Court has relied on a decision of this Court in Commissioner of Income-Tax v. K. Ravindranathan Nair [(2007) 295 ITR 228 (SC)] in which the issue raised before this Court was entirely different from the issue raised in this case. In that case, the assessee owned a factory in which he processed cashew nuts grown in his farm and he exported the cashew nuts as an exporter. At the same time, the assessee processed cashew nuts which were supplied to him by exporters on…

Vardhman Textile Ltd., Ludhiana vs. ACIT, Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 475/CHANDI/2008[2003-04]Status: DisposedITAT Chandigarh04 May 2018AY 2003-04

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…over and, therefore, the inclusion of such items in the profits of the business would result in a distortion of the figure of export profits. The High Court has relied on a decision of this Court in Commissioner of Income-Tax v. K. Ravindranathan Nair [(2007) 295 ITR 228 (SC)] in which the issue raised before this Court was entirely different from the issue raised in this case. In that case, the assessee owned a factory in which he processed cashew nuts grown in his farm and he exported the cashew nuts as an exporter. At the same time, the assessee processed cashew nuts which were supplied to him by exporters on…

ACIT, Ludhiana vs. Vardhman Textiles Ltd., Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 691/CHANDI/2007[2002-03]Status: DisposedITAT Chandigarh04 May 2018AY 2002-03

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…over and, therefore, the inclusion of such items in the profits of the business would result in a distortion of the figure of export profits. The High Court has relied on a decision of this Court in Commissioner of Income-Tax v. K. Ravindranathan Nair [(2007) 295 ITR 228 (SC)] in which the issue raised before this Court was entirely different from the issue raised in this case. In that case, the assessee owned a factory in which he processed cashew nuts grown in his farm and he exported the cashew nuts as an exporter. At the same time, the assessee processed cashew nuts which were supplied to him by exporters on…

M/S Vardhman Textiles Ltd., Ludhiana vs. ACIT, Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 681/CHANDI/2007[2002-03]Status: DisposedITAT Chandigarh04 May 2018AY 2002-03

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…over and, therefore, the inclusion of such items in the profits of the business would result in a distortion of the figure of export profits. The High Court has relied on a decision of this Court in Commissioner of Income-Tax v. K. Ravindranathan Nair [(2007) 295 ITR 228 (SC)] in which the issue raised before this Court was entirely different from the issue raised in this case. In that case, the assessee owned a factory in which he processed cashew nuts grown in his farm and he exported the cashew nuts as an exporter. At the same time, the assessee processed cashew nuts which were supplied to him by exporters on…

Larsen & Toubro Ltd, Mumbai vs. Asst CIT Cir 2(2), Mumbai

In the result, the appeal filed by the Revenue is dismissed

ITA 6257/MUM/2011[1999-00]Status: DisposedITAT Mumbai28 Mar 2018AY 1999-00

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 1999-00 Larsen & Toubro Ltd. Dcit-2(2) Taxation Department L&T Room No. 577, 5Th Vs. House, N.M. Ballard Estate, Floor, Aayakar Mumbai-400001 Bhavan, M.K. Road Mumbai-400020. Pan No. Aaacl0140P Appellant Respondent Assessment Year: 1999-00 Dcit-2(2) Larsen & Toubro Ltd. Room No. 577, 5Th Floor, Taxation Department Vs. Aayakar Bhavan, M.K. L&T House, N.M. Road Ballard Estate, Mumbai-400020. Mumbai-400001 Pan No. Aaacl0140P Appellant Respondent Assessee By : Mr. J.D. Mistry & Mr. Madhur Agarwal, Ar Revenue By : Mr. Anadi Varma, Cit-Dr Date Of Hearing : 14/02/2018 Date Of Pronouncement : 28/03/2018

For Appellant: Mr. J.D. Mistry &For Respondent: Mr. Anadi Varma, CIT-DR
Section 143(3)Section 145A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A” MUMBAI BEFORE SHRI MAHAVIR SINGH (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 1999-00 Larsen & Toubro Ltd. DCIT-2(2) Taxation Department L&T Room No. 577, 5th Vs. House, N.M. Ballard Estate, floor, Aayakar Mumbai-400001 Bhavan, M.K. Road Mumbai-400020. PAN No. AAACL0140P Appellant Respondent Assessment Year: 1999-00 DCIT-2(2) Larsen & Toubro Ltd. Room No. 577, 5th floor, Taxation Department Vs. Aayakar Bhavan, M.K. L&T House, N.M. Road Ballard Estate, Mumbai-400020. Mumbai-400001 PAN No. AAACL0140P Appellant Respondent Asse…