CIT v. Meghalaya Steels Ltd.

383 ITR 217Supreme Court of India2016#450 most cited

What is CIT v. Meghalaya Steels Ltd. authority for?

Subsidies and excise duty refunds that are accounted for in the Profit and Loss account are revenue in nature, form part of business income, and are eligible for deductions under Section 80IB/80IC. Such receipts cannot be reduced from the block of assets for depreciation calculation.

203

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. Meghalaya Steels Ltd. · Section 80IB · Section 80IC · subsidy · excise duty refund · revenue receipt · business income · depreciation · P&L account

Also reported as

67 Taxmann.com 158

Sections most often in play

Section 143(3)Section 115JBSection 80IBSection 2(24)Section 14ASection 271(1)(c)Section 1961Section 132
Read the full judgment

Issues it is cited on

section 80hhc(3)section 115jasection 80hhsection 80hsection 80hhcsection 28(iv)section 80ibsection 115jb(2)section 80icsection 80iasection 80ideduction under section 80ia

Judgments citing CIT v. Meghalaya Steels Ltd.

Maithan Alloys Limited, Kolkata vs. Principal CIT - 1, Kolkata

In the result, the appeal of the assessee is allowed

ITA 1094/KOL/2018[2013-14]Status: DisposedITAT Kolkata09 May 2022AY 2013-14

Bench: Shri Rajpal Yadav, Vice- & Shri Rajesh Kumar]

Section 142(1)Section 143(3)Section 263Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA [Before Shri Rajpal Yadav, Vice-President & Shri Rajesh Kumar, Accountant Member] I.T.A. No. 1094/Kol/2018 Assessment Year : 2013-14 Maithan Alloys Ltd. Vs. PCIT-1, Kolkata (PAN: AABCM 7758 B) Appellant Respondent Date of Hearing 19.04..2022 Date of Pronouncement 09.05.2022 For the Appellant Shri Sanjay Kumar Kejriwal, FCA Shri Harsh Kejriwal, A.R For the Respondent Shri Gourav Kanaujia, CITDR ORDER Per Shri Rajesh Kumar, AM: This is an appeal preferred by the assessee against the order of the Principle Commissioner of Income Tax-1, Kolkata [hereinaft…

The ACIT, Circle- 2(1)(1), Ahmedabad vs. M/S. Gujarat Ambuja Exports Limited, Ahmedabad

ITA 1550/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad25 Feb 2022AY 2014-15

Bench: Us.

For Appellant: Shri Dinesh Singh, Sr. D.RFor Respondent: Shri Tushar Hemani, Sr. Adv
Section 250(6)Section 80I

…come earned on interest on electricity deposits, recovery from transporters and sundry balance of vendors written off. He submitted that issue in dispute is squarely covered by the decision of Hon’ble Supreme Court in the case of CIT Vs. Meghalaya Steel Ltd., 383 ITR 217 (SC). He further relied upon the judgment of Hon’ble Madras High Court in the case of CIT Vs. Seshasayee Papers & Board Ltd., 243 ITR 0421 (Mad) which has been considered by the ld.CIT(A) in the finding extracted (supra). On the strength of these decisions, he submitted that the ld.CIT(A) has rightly granted deduction to the assessee. On the othe…

Trishul Hi -Tech Industries, Guwahati vs. DCIT, Central Circle-2, Patna

In the result, the appeal of assessee is allowed

ITA 52/PAT/2015[2006-07]Status: DisposedITAT Patna16 Feb 2022AY 2006-07

Bench: Shri Aby. T. Varkey & Shri Rajesh Kumar]

Section 80I

…ase of CIT vs Meghalaya Steels Ltd. in ITA No. 07/2010 reported in 356 ITR 235(Guh) . The Ld. AR submitted that the said decision of Guwahati High Court has been affirmed by the Hon’ble Apex Court in the case of CIT vs Meghalaya Steels Ltd. reported in (2016) 383 ITR 217. The Ld. AR, therefore, prayed that since the issue has been settled by the Hon’ble Apex Court by holding that subsidies were rin the nature re-imbursement to the assessee for elements of cost relating to manufacture or sale of their products and therefore was having direct nexus with the cost incurred by the assessee. The ld AR , therefore, pray…

ACIT, Central Circle- 29, New Delhi vs. Avichal Buildcon Pvt. Ltd., New Delhi

In the result, both the appeals filed by the Revenue are allowed for statistical purposes

ITA 2418/DEL/2018[2014-15]Status: DisposedITAT Delhi14 Dec 2021AY 2014-15

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

For Appellant: Shri R.S. Singhvi, AdvocateFor Respondent: Shri Om Prakash, Sr. DR
Section 115JSection 142Section 153ASection 32(1)Section 43(1)Section 80I

…e Tax Act. The assessee submitted its reply on 26.12.2017. The reply submitted by the assessee has been perused. The assessee has submitted that the Ld. CIT(A) relying upon decision of me Hon’ble Supreme Court in the case of CIT vs. Meghalya Steels Ltd [2016] 383 ITR 217 (SC) and decision of jurisdictional High Court in the case of CIT vs. Dharampal Premchand Ltd [2009] 317 ITR 353 Delhi H.C] has deleted the additions on this issue in assessee’s own case for A.Y. 2012-13 & 2013-14. The above decision of the Ld. CIT(A) has not accepted and the revenue has gone in further appeal against the same. 10.1 As there is n…

ACIT, Central Circle- 29, New Delhi vs. Abhisar Buildwell Pvt. Ltd., New Delhi

ITA 2419/DEL/2018[2015-16]Status: DisposedITAT Delhi15 Sept 2021AY 2015-16

Bench: Shri Kuldip Singh & Shri Anadee Nath Misshra

For Appellant: Shri Satyajeet Goel, AdvocateFor Respondent: Shri Rajesh Kumar, Senior DR
Section 32(1)Section 43(1)Section 44ASection 80I

…fund has not been treated in the form of capital subsidy or grant which can be reduced from the cost of assets. 14. Since findings returned by the ld. CIT (A) are based upon the decision rendered by Hon’ble Apex Court in CIT vs. Meghalaya Steels Ltd. – (2016) 383 ITR 217 (SC), we are of the considered view that the excise refund is in the nature of revenue receipt forming part of profits and gains arising from the business and as such cannot be reduced from the cost of plant & machinery. So, the findings returned by ld. CIT (A) on this issue are confirmed. 14. In view of what has been discussed above, we are of t…

ACIT, Central Circle- 29, New Delhi vs. Abhisar Buildwell (P) Ltd., Delhi

In the result, both the appeals of the Revenue are dismissed

ITA 5825/DEL/2017[2014-15]Status: DisposedITAT Delhi10 Sept 2021AY 2014-15

Bench: Shri G.S. Pannu, Hon’Ble & Shri Kul Bharat, Hon’Ble[Assessment Year: 2014-15] Acit, M/S Abhisar Buildwell (P) Ltd. Central Circle-29, 1711, S.P. Mukherjee Marg, New Delhi Delhi-110006 Room No. 318, 3Rd Floor, Ara Centre, Jhandewalan Extn., New Delhi. Pan-Aafca6845D Appellant Respondent

Section 32Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH, ‘A’: NEW DELHI (Through Video Conferencing) BEFORE SHRI G.S. PANNU, HON’BLE PRESIDENT AND SHRI KUL BHARAT, HON’BLE JUDICIAL MEMBER [Assessment Year: 2014-15] ACIT, M/s Abhisar Buildwell (P) Ltd. Central Circle-29, 1711, S.P. Mukherjee Marg, New Delhi Delhi-110006 Room no. 318, 3rd floor, ARA Centre, Jhandewalan Extn., New Delhi. PAN-AAFCA6845D Appellant Respondent Revenue by Shri Vijay Kumar Kataria, Sr. DR Assessee by Sh. R.S. Singvi, CA Date of Hearing 10.09.2021 Date of Pronouncement 10.09.2021 ORDER PER KUL BHARAT, JM, This appeal filed by the Revenue is…

The Pr Commissioner of Income Tax vs. M/S Sasken Technologies Ltd

ITA/55/2021HC Karnataka03 Sept 2021

Bench: S.SUJATHA,RAVI V HOSMANI

Section 260Section 260A

…IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 3RD DAY OF SEPTEMBER, 2021 PRESENT THE HON’BLE MRS.JUSTICE S.SUJATHA AND THE HON’BLE MR. JUSTICE RAVI V. HOSMANI I.T.A.No.55/2021 BETWEEN : 1 . THE PR. COMMISSIONER OF INCOME TAX, 5TH FLOOR, BMTC BUILDING 80 FEET ROAD, KORAMANGALA BENGALURU-560095 2 . THE DEPUTY COMMISSIONER OF INCOME-TAX CIRCLE-6(1)(1) 2ND FLOOR, BMTC BUILDING, 6TH BLOCK 80 FEET ROAD, KORAMANGALA BENGALURU-560095 ...APPELLANTS (BY SRI K.V.ARAVIND, ADV.) AND : M/s SASKEN TECHNOLOGIES LTD., (FORMERLY KNOWN AS SASKEN COM…

B R Agrotech Ltd, New Delhi vs. ACIT Circle-4(1), New Delhi

In the result, all the appeals of the assessee are allowed

ITA 6247/DEL/2019[2014-15]Status: DisposedITAT Delhi02 Sept 2021AY 2014-15

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 6244/Del/2019 : Asstt. Year : 2011-12 Ita No. 6245/Del/2019 : Asstt. Year : 2012-13 Ita No. 6246/Del/2019 : Asstt. Year : 2013-14 Ita No. 6247/Del/2019 : Asstt. Year : 2014-15 M/S B R Agrotech Ltd., Vs Acit, 1505, Vikram Tower, Rajendra Circle-4(1), Place, New Delhi-110008 New Delhi (Appellant) (Respondent) Pan No. Aabcb3432F Assessee By : Sh. S. S. Nagar, Adv. Revenue By : Ms. Alka Gautam, Sr. Dr Date Of Hearing: 28.06.2021 Date Of Pronouncement: 02.09.2021

For Appellant: Sh. S. S. Nagar, AdvFor Respondent: Ms. Alka Gautam, Sr. DR
Section 115JSection 154

…smissed by the Hon'ble Apex court holding that the issue raised in the appeal is covered against the revenue by the decision of the Hon’ble Supreme Court in CIT Vs. Ponni Sugars & Chemicals Ltd. 306 ITR 392 or in the alternate, in CIT Vs Meghalaya Steels Ltd. 3 ITR 217. 18. The policy of Shree Balaji Alloys and the appellant is identical. 19. Thus, we find no dispute that the Excise Duty refund received by the assessee is to be treated as capital receipt. ITA Nos. 6244 to 6247/Del/2019 10 B R Agrotech Ltd. Exclusion of capital receipts in computing Book profit u/s 115JB 20. The concurrent reading of Section 2…

B R Agrotech Ltd, New Delhi vs. ACIT Circle-4(1), New Delhi

In the result, all the appeals of the assessee are allowed

ITA 6246/DEL/2019[2013-14]Status: DisposedITAT Delhi02 Sept 2021AY 2013-14

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 6244/Del/2019 : Asstt. Year : 2011-12 Ita No. 6245/Del/2019 : Asstt. Year : 2012-13 Ita No. 6246/Del/2019 : Asstt. Year : 2013-14 Ita No. 6247/Del/2019 : Asstt. Year : 2014-15 M/S B R Agrotech Ltd., Vs Acit, 1505, Vikram Tower, Rajendra Circle-4(1), Place, New Delhi-110008 New Delhi (Appellant) (Respondent) Pan No. Aabcb3432F Assessee By : Sh. S. S. Nagar, Adv. Revenue By : Ms. Alka Gautam, Sr. Dr Date Of Hearing: 28.06.2021 Date Of Pronouncement: 02.09.2021

For Appellant: Sh. S. S. Nagar, AdvFor Respondent: Ms. Alka Gautam, Sr. DR
Section 115JSection 154

…smissed by the Hon'ble Apex court holding that the issue raised in the appeal is covered against the revenue by the decision of the Hon’ble Supreme Court in CIT Vs. Ponni Sugars & Chemicals Ltd. 306 ITR 392 or in the alternate, in CIT Vs Meghalaya Steels Ltd. 3 ITR 217. 18. The policy of Shree Balaji Alloys and the appellant is identical. 19. Thus, we find no dispute that the Excise Duty refund received by the assessee is to be treated as capital receipt. ITA Nos. 6244 to 6247/Del/2019 10 B R Agrotech Ltd. Exclusion of capital receipts in computing Book profit u/s 115JB 20. The concurrent reading of Section 2…

B R Agrotech Ltd, New Delhi vs. ACIT Circle-4(1), New Delhi

In the result, all the appeals of the assessee are allowed

ITA 6245/DEL/2019[2012-13]Status: DisposedITAT Delhi02 Sept 2021AY 2012-13

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 6244/Del/2019 : Asstt. Year : 2011-12 Ita No. 6245/Del/2019 : Asstt. Year : 2012-13 Ita No. 6246/Del/2019 : Asstt. Year : 2013-14 Ita No. 6247/Del/2019 : Asstt. Year : 2014-15 M/S B R Agrotech Ltd., Vs Acit, 1505, Vikram Tower, Rajendra Circle-4(1), Place, New Delhi-110008 New Delhi (Appellant) (Respondent) Pan No. Aabcb3432F Assessee By : Sh. S. S. Nagar, Adv. Revenue By : Ms. Alka Gautam, Sr. Dr Date Of Hearing: 28.06.2021 Date Of Pronouncement: 02.09.2021

For Appellant: Sh. S. S. Nagar, AdvFor Respondent: Ms. Alka Gautam, Sr. DR
Section 115JSection 154

…smissed by the Hon'ble Apex court holding that the issue raised in the appeal is covered against the revenue by the decision of the Hon’ble Supreme Court in CIT Vs. Ponni Sugars & Chemicals Ltd. 306 ITR 392 or in the alternate, in CIT Vs Meghalaya Steels Ltd. 3 ITR 217. 18. The policy of Shree Balaji Alloys and the appellant is identical. 19. Thus, we find no dispute that the Excise Duty refund received by the assessee is to be treated as capital receipt. ITA Nos. 6244 to 6247/Del/2019 10 B R Agrotech Ltd. Exclusion of capital receipts in computing Book profit u/s 115JB 20. The concurrent reading of Section 2…

B R Agrotech Ltd, New Delhi vs. ACIT Circle-4(1), New Delhi

In the result, all the appeals of the assessee are allowed

ITA 6244/DEL/2019[2011-12]Status: DisposedITAT Delhi02 Sept 2021AY 2011-12

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 6244/Del/2019 : Asstt. Year : 2011-12 Ita No. 6245/Del/2019 : Asstt. Year : 2012-13 Ita No. 6246/Del/2019 : Asstt. Year : 2013-14 Ita No. 6247/Del/2019 : Asstt. Year : 2014-15 M/S B R Agrotech Ltd., Vs Acit, 1505, Vikram Tower, Rajendra Circle-4(1), Place, New Delhi-110008 New Delhi (Appellant) (Respondent) Pan No. Aabcb3432F Assessee By : Sh. S. S. Nagar, Adv. Revenue By : Ms. Alka Gautam, Sr. Dr Date Of Hearing: 28.06.2021 Date Of Pronouncement: 02.09.2021

For Appellant: Sh. S. S. Nagar, AdvFor Respondent: Ms. Alka Gautam, Sr. DR
Section 115JSection 154

…smissed by the Hon'ble Apex court holding that the issue raised in the appeal is covered against the revenue by the decision of the Hon’ble Supreme Court in CIT Vs. Ponni Sugars & Chemicals Ltd. 306 ITR 392 or in the alternate, in CIT Vs Meghalaya Steels Ltd. 3 ITR 217. 18. The policy of Shree Balaji Alloys and the appellant is identical. 19. Thus, we find no dispute that the Excise Duty refund received by the assessee is to be treated as capital receipt. ITA Nos. 6244 to 6247/Del/2019 10 B R Agrotech Ltd. Exclusion of capital receipts in computing Book profit u/s 115JB 20. The concurrent reading of Section 2…

Jt. Commissioner of Income Tax(OSD), Central Cirlce-1(4), Hyderabad vs. Medha Servo Drives Private Limited, Hyderabad

In the result, the CO filed by the assessee is allowed

ITA 655/HYD/2018[2014-15]Status: DisposedITAT Hyderabad24 Aug 2021AY 2014-15

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri V. Shiva KumarFor Respondent: Shri Sunil Kumar Pandey, DR
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH “A”, HYDERABAD (Through Virtual Hearing) BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA Nos.654 & 655/Hyd/2018 AYs: 2013-14 and 2014-15 JCIC (OSD), VS. Medha Servo Drives Central Circle-1(4), Private Limited, Hyderabad. Hyderabad. PAN: AABCM 3917 A PAN: AABCM 3917 A (Appellant) (Respondent) Assessee by: Shri V. Shiva Kumar Revenue by: Shri Sunil Kumar Pandey, DR C.O. No. 23/Hyd/2018 (A.Y.: 2014-15) (In ITA No.655/Hyd/2018) JCIC (OSD), VS. Medha Servo Drives Central Circle-1(4), Private Limited, Hyderabad. Hyderabad. P…

Jt. Commissioner of Income Tax(OSD), Central Cirlce-1(4), Hyderabad vs. Medha Servo Drives Private Limited, Hyderabad

In the result, the CO filed by the assessee is allowed

ITA 654/HYD/2018[2013-14]Status: DisposedITAT Hyderabad24 Aug 2021AY 2013-14

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri V. Shiva KumarFor Respondent: Shri Sunil Kumar Pandey, DR
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH “A”, HYDERABAD (Through Virtual Hearing) BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA Nos.654 & 655/Hyd/2018 AYs: 2013-14 and 2014-15 JCIC (OSD), VS. Medha Servo Drives Central Circle-1(4), Private Limited, Hyderabad. Hyderabad. PAN: AABCM 3917 A PAN: AABCM 3917 A (Appellant) (Respondent) Assessee by: Shri V. Shiva Kumar Revenue by: Shri Sunil Kumar Pandey, DR C.O. No. 23/Hyd/2018 (A.Y.: 2014-15) (In ITA No.655/Hyd/2018) JCIC (OSD), VS. Medha Servo Drives Central Circle-1(4), Private Limited, Hyderabad. Hyderabad. P…

Assistant Commissioner of Income Tax, Circle 1(1), Huballi vs. Hubli Electricity Supply Co. Ltd., Hubballi

In the result, appeal of the Revenue is treated as allowed for statistical purposes

ITA 570/BANG/2017[2012 - 13]Status: DisposedITAT Bangalore30 Jun 2021

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranassessment Year :2012-13 The Assistant Commissioner Of Vs. Hubli Electricity Supply Co. Ltd., Income Tax, Navanagar, Circle – 1(1), Hubballi – 580 025. Hubballi. Pan : Aabch3176 J Appellant Respondent Revenue By : Ms. Neera Malhotra, Cit(Dr)(Itat), Bengaluru Assessee By : Smt. Prathibha, Advocate Date Of Hearing : 24.06.2021 Date Of Pronouncement : 30.06.2021 O R D E R Per N. V. Vasudevan

For Appellant: Smt. Prathibha, AdvocateFor Respondent: Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru
Section 80ISection 8O

…Cambay Electrical Supply Co. Ltd., 113 ITR 84. At the time of hearing, it was brought to our notice by the learned Counsel for the assessee that all these decisions were considered by the Hon’ble Supreme Court in the case of CIT(A) Vs. Meghalaya Steels Ltd., 383 ITR 217 (SC). The decision was referred in the context of section 80 IC of the Act. The words of which are identical to the provisions of section 80IA(4)(iv)(c) of the Act, the Hon’ble Supreme Court took the view that if the subsidy recoups, the expenditure which was incidental expenditure of assessee’s business then that would be a subsidy which is inse…

Modern Papers, Delhi vs. ITO, Ward- 34(3), New Delhi

In the result, the appeal is allowed

ITA 3931/DEL/2018[2013-14]Status: DisposedITAT Delhi17 Jun 2021AY 2013-14

Bench: Shri Prashant Maharishi & Shri K. Narasimha Charyassessment Year: 2013-14

For Appellant: Sh. S.S. Nagar, C.AFor Respondent: Sh. Sohail Malik, Sr. DR
Section 139(5)

…evenue by the decision of this Court in “Commissioner of Income Tax, Madras Vs. Ponni Sugars and Chemicals Ltd.”, reported in (2008) 9 SCC 337, or in the alternate, in “Commissioner of Income Tax Vs. M/s Meghalaya Steels Ltd.“, reported in (2016) 3 SCALE 192 (383 ITR 217 (SC)). Therefore, for the aforesaid reasons given above, the revenue's ground of appeal is dismissed.” 24. The appeal of the assessee on the ground of Excise Duty subsidy and interest subsidy as capital receipt is hereby allowed. 25. Regarding the claim of education cess as an allowable expenditure, we find that the CBDT vide Circular No. 91/58…

DCIT (Ltu), New Delhi vs. M/S. Gail (India) Ltd., New Delhi

Appeal is dismissed

ITA 4642/DEL/2013[1996-97]Status: DisposedITAT Delhi26 Oct 2020AY 1996-97

Bench: Sh. R. K. Panda & Ms Suchitra Kamble

Section 80HSection 80I

…ligible for deduction. The Ld. AR relied upon the following decisions: i. CIT vs. Sadhu Forging Ltd. 336 ITR 444 (Del HC) ii. CIT vs. Arvind Constructions 172 Taxman 5 (Del) iii. Fenner (India) Ltd. vs. CIT 241 ITR 803 (Mad) iv. CIT vs. Meghalaya Steels Ltd. 383 ITR 217 (SC) v. CIT vs. Indo Swiss Jewels Ltd. 284 ITR 389 (Bom) vi. DLF Power Limited in ITA No. 1195/Del/2002 (Del) vii. Asia Investments Ltd. vs. DCIT 90 ITD 630 (Mum) – Sale of scrap viii. ACIT vs. Maxcare Laboratories Ltd. 92 ITD 11 (Cuttack) Sale of scrap ix. ACIT vs. Biotech Medicals (P) Ltd. 310 ITR (AT) 47 (Hyd) Sale of scrap x. ITO vs. Kiran En…

Gail (India) Ltd., New Delhi vs. DCIT-Ltu Delhi, New Delhi

Appeal is dismissed

ITA 4454/DEL/2013[1996-97]Status: DisposedITAT Delhi26 Oct 2020AY 1996-97

Bench: Sh. R. K. Panda & Ms Suchitra Kamble

Section 80HSection 80I

…ligible for deduction. The Ld. AR relied upon the following decisions: i. CIT vs. Sadhu Forging Ltd. 336 ITR 444 (Del HC) ii. CIT vs. Arvind Constructions 172 Taxman 5 (Del) iii. Fenner (India) Ltd. vs. CIT 241 ITR 803 (Mad) iv. CIT vs. Meghalaya Steels Ltd. 383 ITR 217 (SC) v. CIT vs. Indo Swiss Jewels Ltd. 284 ITR 389 (Bom) vi. DLF Power Limited in ITA No. 1195/Del/2002 (Del) vii. Asia Investments Ltd. vs. DCIT 90 ITD 630 (Mum) – Sale of scrap viii. ACIT vs. Maxcare Laboratories Ltd. 92 ITD 11 (Cuttack) Sale of scrap ix. ACIT vs. Biotech Medicals (P) Ltd. 310 ITR (AT) 47 (Hyd) Sale of scrap x. ITO vs. Kiran En…

Krishi Rasayan Export Pvt. Ltd., Kolkata vs. PCIT, 4, Kolkata

Appeals are allowed

ITA 743/KOL/2019[2014-15]Status: DisposedITAT Kolkata28 Feb 2020AY 2014-15

Bench: Shri J. Sudhakar Reddy, Am & Shri S. S. Godara, Jm आयकर अपीलसं./I.T.A Nos.742&743/Kol/2019 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) Krishi Rasayan Exports(P) Ltd. Vs. Pcit-4, Kolkata 29, Lala Lajpath Rai Sarani (Elgin Road), Kolkata – 700020. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacck4124G (Appellant) .. (Respondent) Appellant By : Shri S.D. Verma, Advocate Respondent By : Smt. Ranu Biswas, Addl. Cit सुनवाईक"तार"ख/ Date Of Hearing : 21/02/2020 घोषणाक"तार"ख/Date Of Pronouncement : 28/02/2020

For Appellant: Shri S.D. Verma, AdvocateFor Respondent: Smt. Ranu Biswas, Addl. CIT
Section 115JSection 263

…IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH KOLKATA BEFORE SHRI J. SUDHAKAR REDDY, AM & SHRI S. S. GODARA, JM आयकर अपीलसं./I.T.A Nos.742&743/Kol/2019 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) Krishi Rasayan Exports(P) Ltd. Vs. PCIT-4, Kolkata 29, Lala Lajpath Rai Sarani (Elgin Road), Kolkata – 700020. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AACCK4124G (Appellant) .. (Respondent) Appellant by : Shri S.D. Verma, Advocate Respondent by : Smt. Ranu Biswas, Addl. CIT सुनवाईक"तार"ख/ Date of Hearing : 21/02/2020 घोषणाक"तार"ख/Date of Pronouncement : 28/02/2020 आदेश / O R D E R Per Shri S. S. Godara: These tw…

Krishi Rasayan Export Pvt. Ltd., Kolkata vs. PCIT, 4, Kolkata

Appeals are allowed

ITA 742/KOL/2019[2013-14]Status: DisposedITAT Kolkata28 Feb 2020AY 2013-14

Bench: Shri J. Sudhakar Reddy, Am & Shri S. S. Godara, Jm आयकर अपीलसं./I.T.A Nos.742&743/Kol/2019 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) Krishi Rasayan Exports(P) Ltd. Vs. Pcit-4, Kolkata 29, Lala Lajpath Rai Sarani (Elgin Road), Kolkata – 700020. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacck4124G (Appellant) .. (Respondent) Appellant By : Shri S.D. Verma, Advocate Respondent By : Smt. Ranu Biswas, Addl. Cit सुनवाईक"तार"ख/ Date Of Hearing : 21/02/2020 घोषणाक"तार"ख/Date Of Pronouncement : 28/02/2020

For Appellant: Shri S.D. Verma, AdvocateFor Respondent: Smt. Ranu Biswas, Addl. CIT
Section 115JSection 263

…IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH KOLKATA BEFORE SHRI J. SUDHAKAR REDDY, AM & SHRI S. S. GODARA, JM आयकर अपीलसं./I.T.A Nos.742&743/Kol/2019 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) Krishi Rasayan Exports(P) Ltd. Vs. PCIT-4, Kolkata 29, Lala Lajpath Rai Sarani (Elgin Road), Kolkata – 700020. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AACCK4124G (Appellant) .. (Respondent) Appellant by : Shri S.D. Verma, Advocate Respondent by : Smt. Ranu Biswas, Addl. CIT सुनवाईक"तार"ख/ Date of Hearing : 21/02/2020 घोषणाक"तार"ख/Date of Pronouncement : 28/02/2020 आदेश / O R D E R Per Shri S. S. Godara: These tw…

DCIT, Circle- 23(2), New Delhi vs. Sicpa India Pvt. Ltd., New Delhi

ITA 7483/DEL/2017[2011-12]Status: DisposedITAT Delhi31 Jan 2020AY 2011-12

Bench: Shri Kuldip Singh & Dr. B.R.R. Kumar

For Appellant: Shri Nikhil Surana, CAFor Respondent: Shri Saras Kumar, Senior DR
Section 14A

…been granted by the ld. CIT (A) for AYs 2010-11 and 2011-12 which has not been challenged before the Tribunal. This factual position has not been controverted by the ld. DR for the Revenue. 17. Hon’ble Supreme Court in case of CIT vs. Meghalaya Steels Ltd. 383 ITR 217 (SC) by referring the decision of Hon’ble Delhi High Court in CIT vs. Dharampal Premchand Ltd. 317 ITR 353 in which SLP preferred by the Revenue in the Hon’ble Supreme Court was dismissed and upheld the view that refund of excise duty 13 ITA No.704/Kol./2015 ITA No.1586/Kol./2016 ITA No.7048/Kol./2017 ITA No.838/Kol./2015 ITA No.7483/Kol./201…