CIT v. Mahalaxmi Glass Works (P) Ltd.

Merck Specialities P. Ltd, Mumbai vs. Asst CIT Cir 6(3), Mumbai

Bench: S/Sh.Rajendra & Amarjit Singhिनधा"रण वष" वष" /Assessment Year: 2007-08 आयकर अपील सं./I.T.A./3943/Mum/2013,िनधा"रण िनधा"रण िनधा"रण वष" वष" आयकर अपील सं./I.T.A./3944/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2008-09 िनधा"रण िनधा"रण वष" वष" Merck Specialities Private Limited The Acit, Circle-6(3), Aayakar Bhavan Shivsagar Estate, Dr. Annie Besant Rd. M.K. Road Vs. Worli,Mumbai-400 018. Mumbai-400020. Pan:Aaecm 2634 B (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से / Revenue By: Shri B.C.S Naik-Cit-Dr अपीलाथ" क" ओर से /Assessee By: Shri P.J. Pardiwala/Ms. Aarati Visanji सुनवाई क" तारीख / Date Of Hearing: 07/11/2016 घोषणा क" तारीख / Date Of Pronouncement: 25.01.2017 आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयकर आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सद"य सद"य, राजे"" राजे"" केकेकेके अनुसार अनुसार/ Per Rajendra A.M.- लेखा लेखा लेखा सद"य सद"य राजे"" राजे"" अनुसार अनुसार Challenging The Orders Of The Cit(A)-12,Mumbai The Assessee Has Filed The Appeals For The Above-Mentioned Assessment Years(Ay.S).Assessee-Company, Is Engaged In The Business Of Manufacturing Trading & Marketing Of Fine Chemicals & Pharmaceutical Specialties. The Details Of The Dates Of Filing Of Returns,Returned Incomes,Assessed Incomes Etc.Can Be Summarised As Under: Ay. Roi Filed On Returned Income Asstt.Dt. Assessed Income Cit(A)Order 2007-08 29.10.2007 Rs.5.64,95,162/- 31.12.2010 Rs.22,79,96,485/- 28/03/2013 2008-09 30.09.2008 Rs.24,35,52,117/-/- 26.12.2011 Rs.37,61,06,040/- 18/03/2013

…आयकर अपीलीय अपीलीय अिधकरण अिधकरण, मुंबई मुंबई “आई आई” खंडपीठ खंडपीठ आयकर आयकर आयकर अपीलीय अपीलीय अिधकरण अिधकरण मुंबई मुंबई आई आई खंडपीठ खंडपीठ Income-tax Appellate Tribunal -“I”Bench Mumbai सव"ी राजे"",लेखा सद"य एवं अमरजीत "सह, "याियक सद"य Before S/Sh.Rajendra,Accountant Member and Amarjit Singh,Judicial Member िनधा"रण वष" वष" /Assessment Year: 2007-08 आयकर अपील सं./I.T.A./3943/Mum/2013,िनधा"रण िनधा"रण िनधा"रण वष" वष" आयकर अपील सं./I.T.A./3944/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2008-09 िनधा"रण िनधा"रण वष" वष" Merck Specialities Private Limited The ACIT, Circle-6(3), Aayakar Bhavan Shivsagar Es…

The West Coast Paper Mills Ltd, Mumbai vs. Addl CIT 1(3), Mumbai

Appeal stands allowed for Statistical Purposes

…e rival contentions and perused the relevant findings of the authorities below. We agree in principle that corresponding adjustment has to be made in the opening stock as held by the Jurisdictional High Court in CIT v/s Mahalaxmi Glass Works Pvt. Ltd., [2009] 318 ITR 116 (Bom.). The finding of fact as recorded by the learned Commissioner (Appeals) that after making the adjustments made by the assessee in the opening stock and purchase and sale, the net effect is nil appears to be based on fact. Thus, we do not find any reason to deviate from such findings of fact which has not been rebutted and, hence, the ground…

Syngenta India Ltd, Pune vs. Asst CIT RG 1(3)(1), Mumbai

In the result, appeal of the revenue stands dismissed

Bench: Shri R. C. Sharma & Shri Amit Shuklait(Tp)A No.: 1373/Mum/2014 (Assessment Year 2009-10) ससिंगएनता इिंडिमा प्राइवेट सरसभटेि Vs Dy. Cit- 1(3), Room No.564, Syngenta India Ltd., Aayakar Bhavan, S No. 110/11/3, Amar Paradigm M K Road, Mumbai – 400 020 Baner Road, Pune -411 045 स्थमी रेखा सिं. Pan: Aaecs 9424 P अऩीराथी (Appellant) प्रत्मथी (Respondent)

…he total income. Reliance was placed on the judgment of Hon'ble High 65 ससिंगएनता इिंडिमा प्राइवेट सरसभटेि Syngenta India Ltd IT(TP)A 1373/Mum/2014 ITA 1926/Mum/2014 ITA 560/Mum/2015 ITA 147/Mum/2016 Court of Bombay in case of Mahalaxmi Glass Works Pvt. Ltd (318 ITR 116) and on the judgment of Hon'ble Supreme Court in case of CIT Vs. Dynavision Ltd. (348 ITR 380). The learned DR on the other hand supported the orders of authorities below and placed reliance on the finding given in the respective orders. 2.3.2 We have perused the records and considered the matter carefully. The dispute is regarding addition on a…

Syngenta India Ltd, Pune vs. Addl CIT RG 1(3), Mumbai

In the result, appeal of the revenue stands dismissed

Bench: Shri R. C. Sharma & Shri Amit Shuklait(Tp)A No.: 1373/Mum/2014 (Assessment Year 2009-10) ससिंगएनता इिंडिमा प्राइवेट सरसभटेि Vs Dy. Cit- 1(3), Room No.564, Syngenta India Ltd., Aayakar Bhavan, S No. 110/11/3, Amar Paradigm M K Road, Mumbai – 400 020 Baner Road, Pune -411 045 स्थमी रेखा सिं. Pan: Aaecs 9424 P अऩीराथी (Appellant) प्रत्मथी (Respondent)

…he total income. Reliance was placed on the judgment of Hon'ble High 65 ससिंगएनता इिंडिमा प्राइवेट सरसभटेि Syngenta India Ltd IT(TP)A 1373/Mum/2014 ITA 1926/Mum/2014 ITA 560/Mum/2015 ITA 147/Mum/2016 Court of Bombay in case of Mahalaxmi Glass Works Pvt. Ltd (318 ITR 116) and on the judgment of Hon'ble Supreme Court in case of CIT Vs. Dynavision Ltd. (348 ITR 380). The learned DR on the other hand supported the orders of authorities below and placed reliance on the finding given in the respective orders. 2.3.2 We have perused the records and considered the matter carefully. The dispute is regarding addition on a…

DCIT 1(3), Mumbai vs. Syngenta India Ltd, Pune

In the result, appeal of the revenue stands dismissed

Bench: Shri R. C. Sharma & Shri Amit Shuklait(Tp)A No.: 1373/Mum/2014 (Assessment Year 2009-10) ससिंगएनता इिंडिमा प्राइवेट सरसभटेि Vs Dy. Cit- 1(3), Room No.564, Syngenta India Ltd., Aayakar Bhavan, S No. 110/11/3, Amar Paradigm M K Road, Mumbai – 400 020 Baner Road, Pune -411 045 स्थमी रेखा सिं. Pan: Aaecs 9424 P अऩीराथी (Appellant) प्रत्मथी (Respondent)

…he total income. Reliance was placed on the judgment of Hon'ble High 65 ससिंगएनता इिंडिमा प्राइवेट सरसभटेि Syngenta India Ltd IT(TP)A 1373/Mum/2014 ITA 1926/Mum/2014 ITA 560/Mum/2015 ITA 147/Mum/2016 Court of Bombay in case of Mahalaxmi Glass Works Pvt. Ltd (318 ITR 116) and on the judgment of Hon'ble Supreme Court in case of CIT Vs. Dynavision Ltd. (348 ITR 380). The learned DR on the other hand supported the orders of authorities below and placed reliance on the finding given in the respective orders. 2.3.2 We have perused the records and considered the matter carefully. The dispute is regarding addition on a…

Skf India Ltd, Mumbai vs. Asst CIT 4(3)(2), Mumbai

Appeal of the assessee is partly allowed for statistical purposes

Bench: Shri R C Sharma & Shri Amit Shukla

…only contention raised by the Ld. Counsel before us is that, the same treatment should be given to the opening stock also in line with the decision of Hon’ble Bombay High Court in the case of CIT vs Mahalakshmi Glass Works Private Limited, reported in [2009] 318 ITR 116. Ld. DR admitted that, this issue may be set aside to the file of the AO to follow the principle laid down by the Hon’ble Bombay High Court. 15 एस के एफ़ इं"डया "ल"मटेड SKF India Limited ITA 1420/Mum/2016 12. On the perusal of the impugned orders, we find that, DRP has referred to the fact that in AY 2006-07, the assessee has not pressed this iss…

Sayli Iron & Steel Co. P.Ltd, Mumbai vs. DCIT Cen Cir 10, Mumbai

In the result appeal filed by the assessee is hereby allowed

Bench: Shri D. Karunakara Rao, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.8628/Mum/11 ("नधा"रण वष" / Assessment Year: 2002-03) Sayli Iron & Steel Co. Pvt. Deputy Commissioner Of बनाम/ Ltd. Income Tax Central Circle Vs. 103, Steel Centre, 10 Ahmedabad Street, Mumbai Masjid Bunder(West) Mumbai - 400009 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaecs4042F

…ot liable to be added in the closing stock in view of the law settled by Hon’ble Delhi High Court in case CIT V/s. Mahavir Alluminum Ltd. [2008] 297 ITR 77 and by Hon’ble Jurisdictional High Court in the case of CIT V/s. Mahalaxmi Glass Works Pvt. Ltd. [2009] 318 ITR 116 (Bom.). However, on the other hand learned representative of the department has refuted the said contentions and relied upon the finding of the CIT(A) in question. By giving the careful thought to the contention raised by the learned representative of the parties and perusing the record carefully, it came into notice that the CIT(A) has decided t…

Syngenta India Ltd, Pune vs. Addl CIT RG 1(3), Mumbai

Accordingly, we direct the AO to allow the actual expenditure incurred during this year on site restoration cost. Accordingly, ground no. 5 is treated as allowed

Bench: Shri B R Baskaran & Shri Amit Shukla

…have to be made at all stages including opening stock and purchases and if this was done this would not result in any addition to the total income. Reliance was placed on the judgment of Hon'ble High Court of Bombay in case of Mahalaxmi Glass Works Pvt. Ltd (318 ITR 116) and on the judgment of Hon7ble Supreme Court in case of CIT Vs. Dynavision Ltd. (348 ITR 380). The learned DR on the other hand supported the orders of authorities below 48 "संगएनता इं"डया "ाइवेट "ल"मटेड Syngenta India Ltd ITA 8534/Mum/2011 ITA 649/Mum/2013 and placed reliance on the finding given in the respective orders. 2.3.2 We have perused…

Syngenta India Ltd, Pune vs. Addl CIT 1(3), Mumbai

Accordingly, we direct the AO to allow the actual expenditure incurred during this year on site restoration cost. Accordingly, ground no. 5 is treated as allowed

Bench: Shri B R Baskaran & Shri Amit Shukla

…have to be made at all stages including opening stock and purchases and if this was done this would not result in any addition to the total income. Reliance was placed on the judgment of Hon'ble High Court of Bombay in case of Mahalaxmi Glass Works Pvt. Ltd (318 ITR 116) and on the judgment of Hon7ble Supreme Court in case of CIT Vs. Dynavision Ltd. (348 ITR 380). The learned DR on the other hand supported the orders of authorities below 48 "संगएनता इं"डया "ाइवेट "ल"मटेड Syngenta India Ltd ITA 8534/Mum/2011 ITA 649/Mum/2013 and placed reliance on the finding given in the respective orders. 2.3.2 We have perused…

Bayer Crop Science Ltd, Mumbai vs. Addl CIT 10(3), Mumbai

Bench: S/Sh.Rajendra & C.N. Prasadआयकर अपील सं./Ita/7978/Mum/2010,िनधा"रण वष"/Ay.2006-07 M/S. Bayer Cropscience Limited Acit -10(3) Aayakar Bhavan, 4Th Floor, M.K. Road Bayer House, Central Avenue, Hiranandani Gardens, Powai Vs. Mumbai-400 020. Mumbai-400 076. Pan:Aaacb 9651 K (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By:Shri G.M. Doss Assessee By: S/Shri Paras Savla; Harsh Shah & Viraj Mehta सुनवाई की तारीख / Date Of Hearing: 18.04.2016 घोषणा की तारीख / Date Of Pronouncement: 25.05.2016 आयकर अिधिनयम,1961 की धारा 254(1)के अ"ग"त आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सद" राजे" के अनुसार Per Rajendra, Am- Challenging The Order Dated 14/10/2010 Of The Assessing Officer (Ao),Passed U/S.143(3)R.W. S.144C(13)Of The Act, The Assessee Has Filed The Present Appeal. Assessee-Company,Engaged In The Business Of Manufacturing Of Insecticides & Other Chemicals For Plant Protection,Filed Its Return Of Income On 30/11/2006, Declaring Income Of Rs. 51.18 Crores.During The Assessment Proceedings,The Ao Found That Assessee Had Entered Into International Transactions (It.S) With Its Associated Enterprises(Aes).So,He Made A Reference To The Transfer Pricing Officer (Tpo)To Determine The Arm’S Length Price(Alp) Of Such Transactions. After Receiving The Order Of The Tpo,The Ao Sent The Draft Assessment Order To The Assessee, Who Challenged It Before The Dispute Resolution Panel (Drp).The Drp Issue Directions To The Ao Wide Its Order Dated 28/09/2010.In Pursuance Of The Said Directions, The Ao Completed The Assessment, Determining The Income Of The Assessee Had Rs. 59.89 Crores. 2.First Ground Of Appeal Relates To Transfer Pricing (Tp)Adjustments Of Rs. 2.80 Crores.During The Tp Proceedings,The Tpo Found That The Assessee Had Entered Into The Following It.S With Its Aes:

…after hearing the assessee. Ground number 17 is decided in favour of the assessee, in part. 9.Last effective ground of appeal pertains to adjustment of opening stock of Rs. 5.53 crores. Before us, the AR relied upon the case of Mahalakshmi glassworks (P)Ltd.(318 ITR 116) and stated that the AO erred in not allowing consequential adjustment/enhancement of Rs. 5.53 crores to the value of opening stock of the relevant assessment year 2006-07 on account of addition made to the closing 7978/M/10(06-07)-Bayer Crop Science Ltd. stock for the previous year under section 145A of the Act, that the double taxation had no…

Gharda Chemicals Ltd, Mumbai vs. Addl CIT 9(1), Mumbai

Bench: S/Sh.Rajendra & C.N. Prasadआयकर अपील सं./Ita/5474/Mum/2009,िनधा"रण वष" /Assessment Year: 2004-05 Dcit, Circle-9(1) Gharda Chemicals Limited Churchgate,Mumbai-400 020. 5/6, Jer Mansion, W.P. Varde Marg, Vs. Off Turner Road, Bandra (W), Mumbai-50. Pan: Aaacg 1255 E आयकर अपील सं./Ita/5348/Mum/2009,िनधा"रण वष" /Assessment Year: 2004-05 Gharda Chemicals Limited Vs. Dcit, Circle-9(1) Mumbai-400 050. Aayakar Bhavan, Mumbai-400020. आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./Ita/8376/Mum/2010,िनधा"रण अपील िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" /Assessment Year: 2005-06 वष" Gharda Chemicals Limited Vs. Dcit, Circle-9(1) Bandra (W),Mumbai-50. Aayakar Bhavan, Mumbai-400020. आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./Ita/8758/Mum/2010,िनधा"रण अपील िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" /Assessment Year: 2005-06 वष" Dcit, Circle-9(1) Vs. M/S.Gharda Chemicals Limited Churchgate,Mumbai-400 020. Mumbai-400 018. (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By: Shri Debashish Chandra Assessee By: Ms. Vasanti Patel & Shri Gopal Bohra सुनवाई की तारीख / Date Of Hearing: 13.04.2016 घोषणा की तारीख / Date Of Pronouncement: 29.04.2016 आयकर अिधिनयम,1961 की धारा 254(1)के अ"ग"त आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act)

…आयकर अपीलीय अिधकरण, , , , मुंबई “केकेकेके” खंडपीठ Income-tax Appellate Tribunal -“K”Bench Mumbai सव"ी राजे"",लेखा सद"य एवं सी. एन. "साद,"याियक सद"य Before S/Sh.Rajendra,Accountant Member and C.N. Prasad,Judicial Member आयकर अपील सं./ITA/5474/Mum/2009,िनधा"रण वष" /Assessment Year: 2004-05 DCIT, Circle-9(1) Gharda Chemicals Limited Churchgate,Mumbai-400 020. 5/6, Jer Mansion, W.P. Varde Marg, Vs. Off Turner Road, Bandra (W), Mumbai-50. PAN: AAACG 1255 E आयकर अपील सं./ITA/5348/Mum/2009,िनधा"रण वष" /Assessment Year: 2004-05 Gharda Chemicals Limited Vs. DCIT, Circle-9(1) Mumbai-400 050. Aayakar Bhavan, Mumbai-40002…

Johnson & Johnson Ltd, Mumbai vs. Addl CIT Ltu, Mumbai

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

…amount in the light of the provisions of section 145A of the Act. Further, the Tribunal also directed the AO to give corresponding benefit in the opening stock in view of the judgment of jurisdictional High Court in CIT vs. Mahalaxmi Glass Works P. Ltd [2009] 318 ITR 116 (Bom.). After hearing both the parties and respectfully following the said decision of the Tribunal in the earlier years (supra), we remand this issue to the file of the AO with identical directions. Accordingly, Ground no.31 raised by the assessee is allowed for statistical purposes. 19. Ground nos. 32 and 33 relate to the disallowance of provis…

Pfizer Ltd, Mumbai vs. Addl CIT RG 8(2), Mumbai

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2007-08 & Assessment Year: 2008-09 Pfizer Limited, Acit Range 8(2), Patel Estate, Off S.V. Rd. Aayakar Bahwan, बनाम/ Jogeshwari (W), M.K. Marg, Vs. Mumba-400102 Mumbai- (Assessee) (Revenue) P.A. No.Aaacp3334M

…ning stock of A.Y.2007-08 ought to be increased and deduction should be 35 Pfizer Limited granted to the said extent. In support, the reliance has been placed on the judgment of Hon’ble Bombay High Court in the case of CIT vs. Mahalaxmi Glass Works (P) Ltd. 318 ITR 116 and decision of ITAT Mumbai in the case of Hawkins Cookers Limited vs. ITO (ITA No.505/Mum/2004 (14 DTR 206) 14.2. We have gone through the submissions made and cases relied upon by both the sides. This ground being a legal ground is admitted for adjudication. 14.3. The brief facts are that the AO vide its order dated 5th February, 2010, passed…