CIT v. Mahindra & Mahindra Ltd.

177 ITD 472Income Tax Appellate Tribunal2019#17017 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 348,607 Indian tax judgments — from 2020 to 2021.

Issues it is cited on

buyback of shareswaiver of loansection 145(1)section 43asection 28(iv)section 145(2)section 35dsection 43(1)section 271(l)(c)written down valuesection 41(1)rule of consistency

Judgments citing CIT v. Mahindra & Mahindra Ltd.

DCIT, New Delhi vs. M/S. Paramount Communication Pvt. Ltd., New Delhi

In the result, ITA No.767/Del/2014 is partly allowed,

ITA 2288/DEL/2017[2010-11]Status: DisposedITAT Delhi15 Jun 2021AY 2010-11

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

Section 43A

…t the outset submitted that the issue of addition on account of buyback on FCCBs at discount is covered in favour of the assessee by the following decisions:- • CIT vs Mahindra & Mahindra Ltd. (2018) 404 ITR 1(SC) • Dy. CIT vs Pidilite Industries Ltd. (2019) 177 ITD 472(Mum.) • OK Play India Ltd. vs JCIT (ITA No.3402/D/2016 dated 13.01.2020) • ACIT vs M/s KEI Industries Ltd. (ITA No.1433/Del/2014 dated 03.12.2020) 38. He submitted that FCCB means a bond issued by an Indian company expressed in foreign currency. The principal and interest in respect of such a bond is payable in foreign ITANo.1378 & 2288/Del/2017…

Paramount Communications Ltd., New Delhi vs. DCIT, New Delhi

In the result, ITA No.767/Del/2014 is partly allowed,

ITA 1378/DEL/2017[2010-11]Status: DisposedITAT Delhi15 Jun 2021AY 2010-11

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

Section 43A

…t the outset submitted that the issue of addition on account of buyback on FCCBs at discount is covered in favour of the assessee by the following decisions:- • CIT vs Mahindra & Mahindra Ltd. (2018) 404 ITR 1(SC) • Dy. CIT vs Pidilite Industries Ltd. (2019) 177 ITD 472(Mum.) • OK Play India Ltd. vs JCIT (ITA No.3402/D/2016 dated 13.01.2020) • ACIT vs M/s KEI Industries Ltd. (ITA No.1433/Del/2014 dated 03.12.2020) 38. He submitted that FCCB means a bond issued by an Indian company expressed in foreign currency. The principal and interest in respect of such a bond is payable in foreign ITANo.1378 & 2288/Del/2017…

M/S. Paramount Communictions Ltd., New Delhi vs. DCIT, New Delhi

In the result, ITA No.767/Del/2014 is partly allowed,

ITA 767/DEL/2014[2009-10]Status: DisposedITAT Delhi15 Jun 2021AY 2009-10

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

Section 43A

…t the outset submitted that the issue of addition on account of buyback on FCCBs at discount is covered in favour of the assessee by the following decisions:- • CIT vs Mahindra & Mahindra Ltd. (2018) 404 ITR 1(SC) • Dy. CIT vs Pidilite Industries Ltd. (2019) 177 ITD 472(Mum.) • OK Play India Ltd. vs JCIT (ITA No.3402/D/2016 dated 13.01.2020) • ACIT vs M/s KEI Industries Ltd. (ITA No.1433/Del/2014 dated 03.12.2020) 38. He submitted that FCCB means a bond issued by an Indian company expressed in foreign currency. The principal and interest in respect of such a bond is payable in foreign ITANo.1378 & 2288/Del/2017…

M/S. Kei Industries Ltd., New Delhi vs. DCIT, New Delhi

In the result, Ground No.3

ITA 528/DEL/2016[2012-13]Status: DisposedITAT Delhi03 Dec 2020AY 2012-13

Bench: Shri Bhavnesh Saini, J.M. & Shri Anil Chaturvedi, A.M.

For Appellant: Shri Satyan Sethi, AdvocateFor Respondent: Ms. Parul Singh, Sr. D.R

…ther Section 28(iv) nor Section 41(1) of the Act are applicable. He has relied upon Judgment of Hon’ble Supreme Court in the case of CIT vs., Mahindra & Mahindra Ltd., 404 ITR 1 (SC) and Order of Mumbai Bench in the case of DCIT vs., Pidilite Industries Ltd., 177 ITD 472, Judgment of Delhi High Court in the case of Logitronics P. Ltd., vs., CIT [2011] 333 ITR 386 (Del.) and Order of ITAT, Delhi E-Bench, Delhi in the case of M/s. OK Play India Ltd., Roz-Ka-Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana vs., JCIT, Range-II, Gurgaon in ITA.No.3402/Del./ 2016, Dated 13.01.2020 in which on identical facts…

ACIT, New Delhi vs. M/S. K.E.I. Industries Ltd., New Delhi

In the result, Ground No.3

ITA 1433/DEL/2014[2009-10]Status: DisposedITAT Delhi03 Dec 2020AY 2009-10

Bench: Shri Bhavnesh Saini, J.M. & Shri Anil Chaturvedi, A.M.

For Appellant: Shri Satyan Sethi, AdvocateFor Respondent: Ms. Parul Singh, Sr. D.R

…ther Section 28(iv) nor Section 41(1) of the Act are applicable. He has relied upon Judgment of Hon’ble Supreme Court in the case of CIT vs., Mahindra & Mahindra Ltd., 404 ITR 1 (SC) and Order of Mumbai Bench in the case of DCIT vs., Pidilite Industries Ltd., 177 ITD 472, Judgment of Delhi High Court in the case of Logitronics P. Ltd., vs., CIT [2011] 333 ITR 386 (Del.) and Order of ITAT, Delhi E-Bench, Delhi in the case of M/s. OK Play India Ltd., Roz-Ka-Meo Industrial Estate, Tehsil Nuh, District Mewat, Haryana vs., JCIT, Range-II, Gurgaon in ITA.No.3402/Del./ 2016, Dated 13.01.2020 in which on identical facts…

CIT v. Mahindra & Mahindra Ltd. (177 ITD 472) — Cited in 5 Judgments | BharatTax