CIT v. Kerala Solvent Extractions ltd.

306 ITR 54High Court2008#17606 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2020.

Judgments citing CIT v. Kerala Solvent Extractions ltd.

Dena Bank, Mumbai vs. Principal Commissioner of Income Tax 2, Mumbai

In the result, appeal filed by the assesse is allowed

ITA 2159/MUM/2018[2014-15]Status: DisposedITAT Mumbai23 Jan 2020AY 2014-15

Bench: Shri G. Manjunatha & Shri Ravish Sooddena Bank Vs. Pcit-2 Room No.344, 3Rd Floor Accounts Department Dena Bank Building Aaykar Bhawan 2Nd Floor M.K.Road 17/B, Horniman Circle Mumbai-400 020 Fort, Mumbai-400 023 Pan/Gir No.Aaacd4249B Appellant) .. Respondent)

Section 115Section 143(3)Section 263Section 36(1)(vii)Section 36(1)(viia)Section 43B

…ot to any government account. The amount of liability allowable as per books of accounts regularly followed is only Rs 5.94 crores. The claim of another Rs 48.06 crores not otherwise allowable under the Act cannot be claimed by resorting to section 43B. Refer 306 ITR 54 (Ker) CIT v Kerala Solvent Extractions Ltd. where It was held that Sec. 43B in itself is not 3 provision providing tor deduction of any item of expenditure which is otherwise not allowable under any of the provisions of the Act. The opening words of s. 43B dearly show that the section is dealing with deductions otherwise allowable under provisions…

Income Tax Officer-Ward-12(3), Kolkata vs. M/S Khol Bros Communications Pvt. Ltd, Kolkata

In the result, the appeal of the revenue is dismissed

ITA 2759/KOL/2013[2006-2007]Status: DisposedITAT Kolkata28 Apr 2017AY 2006-2007

Bench: Him Found That An Amount Of Rs.39.24 Lacs & Rs. 11.87 Lacs Towards Sales Tax Liability & Vat Were Not Paid On Or Before The Specified Date. For Non Submission Of Any Evidence Or Explanation For Such Payment, The Ao By Invoking The Provisions Of Section 145A R.W.S 43B Of The Act Added The Sum Of Rs. 51,11,000/- (Rs.39.24 Lacs + Rs.11.87 Lacs) Being Outstanding Sales Tax & Vat Liability To The Total Income Of The Assessee.

Section 145Section 145ASection 43B

…the date of filing of return. Hence, section 43B is only supplementary to section 145 and it is only an additional condition for allowance of deductions otherwise admissible under the other provisions of the Act [ CIT v. Kerala Solvent Extractions Ltd. (2008) 306 ITR 54, 59 (Ker). When section 43B can be applied? In the case of A.W Figgis & Co. Ltd v. CIT (2002) 256 ITR 268, 272 (Cal)], it has been held that from a careful perusal of the provisions made in section 43B, it can be said that section 43B can be applied only when the tax or duty has been claimed as expenditure but the said tax or duty had not been pai…

DCIT, (It), 2(1), Kolkata vs. M/S the Royal Bank of Scotland N.V., Kolkata

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

ITA 496/KOL/2015[2010-2011]Status: DisposedITAT Kolkata14 Oct 2016AY 2010-2011

Bench: Shri N. V. Vasudevan, Jm & Shri M. Balaganesh, Am]

For Appellant: Shri R.N.Bajoria Sr. Advocate &For Respondent: Shri G. Mallikarjuna, CIT, DR
Section 143(3)Section 43D

…lowed which is not the intent of the provisions of section 43B of the Act. The assessee also placed reliance in support of its contention on the decision of the Hon’ble Kerala High Court in the case of CIT vs Kerala Solvent Extractions Ltd reported in (2008) 306 ITR 54 (Ker). The ld AO however proceeded to disallow the sum of Rs. 2,18,00,000/- u/s 43B of the Act. The assessee preferred objections before the ld DRP. The ld. DRP appreciated the contentions of the assessee and deleted the disallowance. Aggrieved , the revenue is in appeal before us on the following ground:- “1. Whether the Ld. DRP has erred in law…

Wimco Ltd, Mumbai vs. ITO WD 2(3)(3), Mumbai

Appeal is allowed for statistical purpose

ITA 4297/MUM/2011[2004-05]Status: DisposedITAT Mumbai05 Aug 2016AY 2004-05

Bench: Sh. Br Baskaran & Sh Pawan Singh

Section 68

…O to consider the all issue raised in the present appeal afresh, Except Ground no. (6) with regard to addition/disallowance of Sale Tax which is covered against the assessee by the decision of Kerala High Court in CIT Vs Kerala Solvent Extractions ltd. (2008) 306 ITR 54 (Ker). The assessing officer is further directed to consider the documentary evidence placed before first appellate authority. Since the matter is very old and pertaining to assessment year 2003–04, the assessee is directed to fully cooperate during the fress assessment proceeding/remand proceeding and not to seek any adjournment without any bonaf…

Wimco Ltd, Mumbai vs. ITO WD 2(3)(4), Mumbai

Appeal is allowed for statistical purpose

ITA 231/MUM/2011[2003-04]Status: DisposedITAT Mumbai05 Aug 2016AY 2003-04

Bench: Sh. Br Baskaran & Sh Pawan Singh

Section 68

…O to consider the all issue raised in the present appeal afresh, Except Ground no. (6) with regard to addition/disallowance of Sale Tax which is covered against the assessee by the decision of Kerala High Court in CIT Vs Kerala Solvent Extractions ltd. (2008) 306 ITR 54 (Ker). The assessing officer is further directed to consider the documentary evidence placed before first appellate authority. Since the matter is very old and pertaining to assessment year 2003–04, the assessee is directed to fully cooperate during the fress assessment proceeding/remand proceeding and not to seek any adjournment without any bonaf…

CIT v. Kerala Solvent Extractions ltd. (306 ITR 54) — Cited in 5 Judgments | BharatTax