CIT v. M.M.T.C. Ltd.

246 ITR 725High Court2000#20081 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2019.

Judgments citing CIT v. M.M.T.C. Ltd.

Beed Taluka Dhud Vasayik Sahakari Sangh Ltd, Beed vs. Income-Tax Officer, Beed

In the result, the appeal of assessee is allowed

ITA 1025/PUN/2017[2010-11]Status: DisposedITAT Pune01 Aug 2019AY 2010-11

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

For Appellant: NoneFor Respondent: Shri Prashant Gudekar

Section 143(3)Section 154Section 80Section 80PSection 80P(2)(b)Section 80P(2)(c)

…s patient and obvious and whose discovering is not dependent on argument or elaboration. On the issue of the mistakes that can be rectified u/s 154 of the Act, we find that the Hon’ble Delhi High Court in the case of CIT Vs. M.M.T.C. Ltd., reported in [2000] 246 ITR 725 (Del) has observed as under : “A bare look at section 154 of the Act makes it clear that a “mistake apparent from the record" is rectifiable. In order to attract the application of section 154, the mistake must exist and the same must be apparent from the record. The power to rectify the mistake, however, does not cover cases where a revision or…

ACIT 2(2)(1), Mumbai vs. Icici Prudential Amc Ltd, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 3540/MUM/2017[2007-08]Status: DisposedITAT Mumbai30 Jan 2019AY 2007-08

Bench: Shri C.N. Prasad, Hon'Ble & Shri G. Manjunatha, Hon'Blea.C.I.T, Circle – 2(2)(1) V. M/S. Icici Prudential Amc Ltd., Room No. 545, 5Th Floor, 8Th Floor, Peninsula Tower, Aayakar Bhavan, M.K. Road, Peninsula Corporate Park, Mumbai-400 020 Lower Parel, Mumbai- 400 013 Pan: Aaaci 1000 K (Appellant) (Respondent) Assessee By : None Department By : Shri Abi Rama Kartikeyan

For Appellant: NoneFor Respondent: Shri Abi Rama Kartikeyan

Section 154Section 156Section 244(1)Section 244ASection 244A(1)Section 244A(1)(a)Section 244A(1)(b)

…ts of tax is made consequent to a notice of demand u/s. 156. The language of the Act is clear and there is ambiguity in it. Hence the assessee is clearly entitled to claim interest u/s.244 A on refund of excess self assessment tax." iii) CIT v. M.M.T.C. Ltd. (246 ITR 725)(Delhi HC) wherein the Hon'ble Delhi High Court has held that a decision on a debatable point of law or a disputed question of fact is not a mistake apparent from record. The plain meaning of the word 'apparent' u/s. 154 of the Act is that it must be something which appears to be so ex-fade and it is incapable of argument or debate. It, therefore…

M/S. Escorts Heart Institute & Research Centre Ltd., New Delhi vs. ACIT, New Delhi

In the result appeal of the assessee is allowed on all the grounds

ITA 874/DEL/2014[2003-04]Status: DisposedITAT Delhi26 Oct 2016AY 2003-04

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishiescorts Heart Institute & Research Vs. Acit, Centre Ltd, Central Circle-3, Okhla Road, Okhla, New Delhi New Delhi Pan:Aaace8731F (Appellant) (Respondent)

For Appellant: Shri R. M. Mehta, AdvFor Respondent: Shri Subhash Verma, Sr. DR

Section 143(3)Section 147Section 154Section 234D

…nd 15) affirmed in 320 ITR 561 (HON'BLE SUPREME COURT ) 2. CIT Vs. Vac Met Corporation (P) Ltd (1981) 127 ITR 676 (Guj) 3. Cit Vs. Tirupattur Co-op Sugar Mills Ltd 246 ITR 227 (Mad) 4. Cit Vs. Shiv Narain karmendra narain 280 ITR 355 (all) 5. Cit Vs. MMTC ltd 246 ITR 725 (delhi) 6. ACIt Vs. Indian Farmer Fertilizer Co-op Ltd 51 SOT 112 (URO) (DELHI) 7. DCIT Vs. M/s. Insilco Ltd in ITA No. 3582/Del/2007 dated 05.08.2011 (ITAT Delhi).” 4. The ld Departmental Representative vehemently submitted that the ld AO has correctly rectified the order as wrong depreciation rates were applied. He relied on the decision of Hon…

Lng Securities Services Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is allowed

ITA 3708/DEL/2013[2004-05]Status: DisposedITAT Delhi11 Jul 2016AY 2004-05

Bench: : Shri C.M. Garg & Shri L.P. Sahu

For Appellant: Sh. V.V. Kale, C.AFor Respondent: Sh. Yogesh Kumar Sharma, Sr. DR

Section 115JSection 143(3)Section 147Section 154Section 234A

…e treatment in the books of accounts. Therefore merely on account of accounting treatment given to the particular receipt, the nature of the particular receipt cannot be decided. The Hon'ble High Court of Delhi has held in the case of CIT vs. MMTC Ltd. (2000) 246 ITR 725 (Del) that section 154 makes it clear that a "mistake apparent from the record" is rectifiable in order to attract the application of section 154, the mistake must exist and the same must be apparent from the record. "Mistake" means to take or understand the wrongly or inaccurately, to make an error in interpreting, it is an error, a fault, a mis…