CIT v. Metalman Auto P. Ltd.

336 ITR 434High Court2011#1244 most cited

What is CIT v. Metalman Auto P. Ltd. authority for?

A reduction in the cost of purchases from foreign suppliers and rental income from essential ATM facilities within an industrial unit are eligible for deduction under Section 80IB as they arise from the industrial undertaking.

91

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Metalman Auto P. Ltd. · Metalman Auto P. Ltd. · Section 80IB deduction · industrial undertaking · eligible profits · reduction in cost of purchases · foreign suppliers · ATM facilities · ancillary income · industrial profits

Also reported as

11 Taxmann.com 5119 Taxmann 149

Sections most often in play

Section 1961Section 143(3)Section 115JBSection 132Section 142(1)Section 143(2)Section 14ASection 153A

Issues it is cited on

section 14a(3)section 36(i)(iii)section 3asection 41(1)(a)section 36(i)(va)section 36(2)(v)section 36(l)(va)section 4asection 36(l)(iii)section 61section 46section 36(l)

Judgments citing CIT v. Metalman Auto P. Ltd.

DCIT, NEW DELHI vs. M/S SAHARA INDIA MASS COMMUNICATION LTD., MUMBAI

In the result, appeals filed by the Revenue are partly allowed

ITA 2480/DEL/2011[2007-08]Status: DisposedITAT Delhi15 Apr 2026AY 2007-08

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Rohit Jain, AdvocateFor Respondent: Ms. Monika Singh, CIT DR
Section 14ASection 40

…ecisions, wherein it has been held that where no expenditure was actually incurred to earn dividend income, disallowance under section 14A cannot be made on the basis of mere presumption:  CIT v. Hero Cycles : 323 ITR 518(P&H)  CIT v. Metalman Auto P. Ltd.: 336 ITR 434 (P&H)  CIT v. Reliance Utilities and Power Ltd.: 313 ITR 340 (Bom)  CIT v. Reliance Industries Ltd.: 339 ITR 632 (Bom)  CIT Vs Ms.Sushma Kapoor: 319 ITR 299 (Delhi) Reliance in this regard is further placed on the following decisions wherein the Courts and various benches of the Tribunal have repeatedly held that recording of satisfaction is…

DCIT, NEW DELHI vs. M/S SAHARA INDIA MASS COMMUNICATION LTD., MUMBAI

In the result, appeals filed by the Revenue are partly allowed

ITA 2479/DEL/2011[2006-07]Status: DisposedITAT Delhi15 Apr 2026AY 2006-07

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Rohit Jain, AdvocateFor Respondent: Ms. Monika Singh, CIT DR
Section 14ASection 40

…ecisions, wherein it has been held that where no expenditure was actually incurred to earn dividend income, disallowance under section 14A cannot be made on the basis of mere presumption:  CIT v. Hero Cycles : 323 ITR 518(P&H)  CIT v. Metalman Auto P. Ltd.: 336 ITR 434 (P&H)  CIT v. Reliance Utilities and Power Ltd.: 313 ITR 340 (Bom)  CIT v. Reliance Industries Ltd.: 339 ITR 632 (Bom)  CIT Vs Ms.Sushma Kapoor: 319 ITR 299 (Delhi) Reliance in this regard is further placed on the following decisions wherein the Courts and various benches of the Tribunal have repeatedly held that recording of satisfaction is…

DCIT, NEW DELHI vs. M/S SAHARA INDIA MASS COMMUNICATION LTD., MUMBAI

In the result, appeals filed by the Revenue are partly allowed

ITA 2478/DEL/2011[2005-06]Status: DisposedITAT Delhi15 Apr 2026AY 2005-06

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Rohit Jain, AdvocateFor Respondent: Ms. Monika Singh, CIT DR
Section 14ASection 40

…ecisions, wherein it has been held that where no expenditure was actually incurred to earn dividend income, disallowance under section 14A cannot be made on the basis of mere presumption:  CIT v. Hero Cycles : 323 ITR 518(P&H)  CIT v. Metalman Auto P. Ltd.: 336 ITR 434 (P&H)  CIT v. Reliance Utilities and Power Ltd.: 313 ITR 340 (Bom)  CIT v. Reliance Industries Ltd.: 339 ITR 632 (Bom)  CIT Vs Ms.Sushma Kapoor: 319 ITR 299 (Delhi) Reliance in this regard is further placed on the following decisions wherein the Courts and various benches of the Tribunal have repeatedly held that recording of satisfaction is…

DY. COMMISSIONER OF INCOME TAX, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, FOCAL POINT

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 84/CHANDI/2024[2020-21]Status: DisposedITAT Chandigarh25 Nov 2024AY 2020-21

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “बी” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH HEARING THROUGH: HYBRID MODE "ी िव"म िसंह यादव, लेखा सद" एवं "ी परेश म. जोशी, "ाियक सद" BEFORE: SHRI. VIKRAM SINGH YADAV, AM & SHRI. PARESH M. JOSHI, JM आयकर अपील सं./ ITA NO. 748/Chd/2023 िनधा"रण वष" / Assessment Year : 2010-11 The DCIT बनाम M/s Rockman Industries Limited Circle-4, Ludhiana A-7, Focal Point, Ludhiana "ायी लेखा सं./PAN NO: AAACR7866E अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA NO. 177/Chd/2024 िनधा"रण वष" / Assessment Year : 2013-14 The Asst. CIT बनाम M/s Rockman Industrie…

ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-4, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 177/CHANDI/2024[2013-14]Status: DisposedITAT Chandigarh25 Nov 2024AY 2013-14

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “बी” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH HEARING THROUGH: HYBRID MODE "ी िव"म िसंह यादव, लेखा सद" एवं "ी परेश म. जोशी, "ाियक सद" BEFORE: SHRI. VIKRAM SINGH YADAV, AM & SHRI. PARESH M. JOSHI, JM आयकर अपील सं./ ITA NO. 748/Chd/2023 िनधा"रण वष" / Assessment Year : 2010-11 The DCIT बनाम M/s Rockman Industries Limited Circle-4, Ludhiana A-7, Focal Point, Ludhiana "ायी लेखा सं./PAN NO: AAACR7866E अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA NO. 177/Chd/2024 िनधा"रण वष" / Assessment Year : 2013-14 The Asst. CIT बनाम M/s Rockman Industrie…

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA, - vs. ROCKMAN INDUSTRIES LTD, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 818/CHANDI/2023[2015-16]Status: DisposedITAT Chandigarh25 Nov 2024AY 2015-16

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “बी” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH HEARING THROUGH: HYBRID MODE "ी िव"म िसंह यादव, लेखा सद" एवं "ी परेश म. जोशी, "ाियक सद" BEFORE: SHRI. VIKRAM SINGH YADAV, AM & SHRI. PARESH M. JOSHI, JM आयकर अपील सं./ ITA NO. 748/Chd/2023 िनधा"रण वष" / Assessment Year : 2010-11 The DCIT बनाम M/s Rockman Industries Limited Circle-4, Ludhiana A-7, Focal Point, Ludhiana "ायी लेखा सं./PAN NO: AAACR7866E अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA NO. 177/Chd/2024 िनधा"रण वष" / Assessment Year : 2013-14 The Asst. CIT बनाम M/s Rockman Industrie…

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, , AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 817/CHANDI/2023[2014-15]Status: DisposedITAT Chandigarh25 Nov 2024AY 2014-15

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “बी” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH HEARING THROUGH: HYBRID MODE "ी िव"म िसंह यादव, लेखा सद" एवं "ी परेश म. जोशी, "ाियक सद" BEFORE: SHRI. VIKRAM SINGH YADAV, AM & SHRI. PARESH M. JOSHI, JM आयकर अपील सं./ ITA NO. 748/Chd/2023 िनधा"रण वष" / Assessment Year : 2010-11 The DCIT बनाम M/s Rockman Industries Limited Circle-4, Ludhiana A-7, Focal Point, Ludhiana "ायी लेखा सं./PAN NO: AAACR7866E अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA NO. 177/Chd/2024 िनधा"रण वष" / Assessment Year : 2013-14 The Asst. CIT बनाम M/s Rockman Industrie…

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 796/CHANDI/2023[2018-19]Status: DisposedITAT Chandigarh25 Nov 2024AY 2018-19

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “बी” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH HEARING THROUGH: HYBRID MODE "ी िव"म िसंह यादव, लेखा सद" एवं "ी परेश म. जोशी, "ाियक सद" BEFORE: SHRI. VIKRAM SINGH YADAV, AM & SHRI. PARESH M. JOSHI, JM आयकर अपील सं./ ITA NO. 748/Chd/2023 िनधा"रण वष" / Assessment Year : 2010-11 The DCIT बनाम M/s Rockman Industries Limited Circle-4, Ludhiana A-7, Focal Point, Ludhiana "ायी लेखा सं./PAN NO: AAACR7866E अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA NO. 177/Chd/2024 िनधा"रण वष" / Assessment Year : 2013-14 The Asst. CIT बनाम M/s Rockman Industrie…

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 795/CHANDI/2023[2017-18]Status: DisposedITAT Chandigarh25 Nov 2024AY 2017-18

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “बी” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH HEARING THROUGH: HYBRID MODE "ी िव"म िसंह यादव, लेखा सद" एवं "ी परेश म. जोशी, "ाियक सद" BEFORE: SHRI. VIKRAM SINGH YADAV, AM & SHRI. PARESH M. JOSHI, JM आयकर अपील सं./ ITA NO. 748/Chd/2023 िनधा"रण वष" / Assessment Year : 2010-11 The DCIT बनाम M/s Rockman Industries Limited Circle-4, Ludhiana A-7, Focal Point, Ludhiana "ायी लेखा सं./PAN NO: AAACR7866E अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA NO. 177/Chd/2024 िनधा"रण वष" / Assessment Year : 2013-14 The Asst. CIT बनाम M/s Rockman Industrie…

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4,, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 794/CHANDI/2023[2016-17]Status: DisposedITAT Chandigarh25 Nov 2024AY 2016-17

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “बी” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH HEARING THROUGH: HYBRID MODE "ी िव"म िसंह यादव, लेखा सद" एवं "ी परेश म. जोशी, "ाियक सद" BEFORE: SHRI. VIKRAM SINGH YADAV, AM & SHRI. PARESH M. JOSHI, JM आयकर अपील सं./ ITA NO. 748/Chd/2023 िनधा"रण वष" / Assessment Year : 2010-11 The DCIT बनाम M/s Rockman Industries Limited Circle-4, Ludhiana A-7, Focal Point, Ludhiana "ायी लेखा सं./PAN NO: AAACR7866E अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA NO. 177/Chd/2024 िनधा"रण वष" / Assessment Year : 2013-14 The Asst. CIT बनाम M/s Rockman Industrie…

DCIT CIRCLE-4, LUDHIANA, LUDHIANA vs. ROCKMAN INDUSTRIES LTD, LUDHIANA

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 748/CHANDI/2023[2010-11]Status: DisposedITAT Chandigarh25 Nov 2024AY 2010-11

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “बी” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH HEARING THROUGH: HYBRID MODE "ी िव"म िसंह यादव, लेखा सद" एवं "ी परेश म. जोशी, "ाियक सद" BEFORE: SHRI. VIKRAM SINGH YADAV, AM & SHRI. PARESH M. JOSHI, JM आयकर अपील सं./ ITA NO. 748/Chd/2023 िनधा"रण वष" / Assessment Year : 2010-11 The DCIT बनाम M/s Rockman Industries Limited Circle-4, Ludhiana A-7, Focal Point, Ludhiana "ायी लेखा सं./PAN NO: AAACR7866E अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA NO. 177/Chd/2024 िनधा"रण वष" / Assessment Year : 2013-14 The Asst. CIT बनाम M/s Rockman Industrie…

THEDCIT, COCHIN vs. M.S COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

ITA 304/COCH/2017[2007-08]Status: DisposedITAT Cochin23 Oct 2024AY 2007-08

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Respondent: 22.08.2024
Section 115JSection 143(3)Section 80I

…ection when no expenditure had 'actually' been incurred by the assessee in relation to the earning of the exempt income. Attention is also invited to the decision of the Hon'ble Punjab & Haryana High Court in the case of CIT v. Metalman Auto P. Ltd.: [2011] 336 ITR 434 (P & H). The relevant observations are in favour of the Appellant's contentions. eee) The decision of the Delhi Bench of the Income Tax Appellate Tribunal in the case of ACIT v. HCL A Comnet Ltd.: ITA No. 322 and 2583/Del/2012 [Assessment Years 2007-08 and 2008-09], wherein the ITAT, following the decision of the Hon'ble Punjab and Haryana Hig…

THE DCIT, COCHIN vs. M.S COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

ITA 193/COCH/2017[2012-13]Status: DisposedITAT Cochin23 Oct 2024AY 2012-13

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Respondent: 22.08.2024
Section 115JSection 143(3)Section 80I

…ection when no expenditure had 'actually' been incurred by the assessee in relation to the earning of the exempt income. Attention is also invited to the decision of the Hon'ble Punjab & Haryana High Court in the case of CIT v. Metalman Auto P. Ltd.: [2011] 336 ITR 434 (P & H). The relevant observations are in favour of the Appellant's contentions. eee) The decision of the Delhi Bench of the Income Tax Appellate Tribunal in the case of ACIT v. HCL A Comnet Ltd.: ITA No. 322 and 2583/Del/2012 [Assessment Years 2007-08 and 2008-09], wherein the ITAT, following the decision of the Hon'ble Punjab and Haryana Hig…

THE DCIT, COCHIN vs. M/S.COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

ITA 167/COCH/2017[2011-12]Status: DisposedITAT Cochin23 Oct 2024AY 2011-12

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Respondent: 22.08.2024
Section 115JSection 143(3)Section 80I

…ection when no expenditure had 'actually' been incurred by the assessee in relation to the earning of the exempt income. Attention is also invited to the decision of the Hon'ble Punjab & Haryana High Court in the case of CIT v. Metalman Auto P. Ltd.: [2011] 336 ITR 434 (P & H). The relevant observations are in favour of the Appellant's contentions. eee) The decision of the Delhi Bench of the Income Tax Appellate Tribunal in the case of ACIT v. HCL A Comnet Ltd.: ITA No. 322 and 2583/Del/2012 [Assessment Years 2007-08 and 2008-09], wherein the ITAT, following the decision of the Hon'ble Punjab and Haryana Hig…

THE DCIT, COCHIN vs. M/S.COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

ITA 166/COCH/2017[2010-11]Status: DisposedITAT Cochin23 Oct 2024AY 2010-11

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Respondent: 22.08.2024
Section 115JSection 143(3)Section 80I

…ection when no expenditure had 'actually' been incurred by the assessee in relation to the earning of the exempt income. Attention is also invited to the decision of the Hon'ble Punjab & Haryana High Court in the case of CIT v. Metalman Auto P. Ltd.: [2011] 336 ITR 434 (P & H). The relevant observations are in favour of the Appellant's contentions. eee) The decision of the Delhi Bench of the Income Tax Appellate Tribunal in the case of ACIT v. HCL A Comnet Ltd.: ITA No. 322 and 2583/Del/2012 [Assessment Years 2007-08 and 2008-09], wherein the ITAT, following the decision of the Hon'ble Punjab and Haryana Hig…

VARDHMAN TEXTILES LIMITED,LUDHIANA vs. ACIT-CIRCLE-1, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

ITA 61/CHANDI/2020[2015-16]Status: DisposedITAT Chandigarh14 Oct 2024AY 2015-16

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Tejmohan Singh, Advocate and Shri Pankaj Gupta, AdvocateFor Respondent: Smt. Kusum Bansal, CIT, DR
Section 80I

…n account of material purchased and that, therefore, it is eligible for deduction. The Ld. Counsel for the assessee has sought to place reliance on the decision of the Hon’ble Punjab & Haryana High Court in the case of “ CIT Vs. Metalman Auto P. Ltd.”, (2011) 336 ITR 434 (P&H). Reliance has further been sought to be placed on the Tribunal decision dt. 18/08/2022 in the assessee’s associate company, in the case of “Vardhman Yarns & Threads Ltd. Vs. DCIT”, for A.Y. 2014-15, in ITA No. 536/2019. 4.5 We find that the receipt of Rebate and Discount is undisputedly turnover discount received from suppliers, which relat…

ACIT,CIRCLE-1, LUDHIANA vs. M/S VARDHMAN TEXTILES LTD., LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

ITA 117/CHANDI/2020[2015-16]Status: DisposedITAT Chandigarh14 Oct 2024AY 2015-16

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Tejmohan Singh, Advocate and Shri Pankaj Gupta, AdvocateFor Respondent: Smt. Kusum Bansal, CIT, DR
Section 80I

…n account of material purchased and that, therefore, it is eligible for deduction. The Ld. Counsel for the assessee has sought to place reliance on the decision of the Hon’ble Punjab & Haryana High Court in the case of “ CIT Vs. Metalman Auto P. Ltd.”, (2011) 336 ITR 434 (P&H). Reliance has further been sought to be placed on the Tribunal decision dt. 18/08/2022 in the assessee’s associate company, in the case of “Vardhman Yarns & Threads Ltd. Vs. DCIT”, for A.Y. 2014-15, in ITA No. 536/2019. 4.5 We find that the receipt of Rebate and Discount is undisputedly turnover discount received from suppliers, which relat…

M/S VARDHMAN TEXTILES LIMITED,LUDHIANA vs. ACIT, C-1, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

ITA 486/CHANDI/2019[2013-14]Status: DisposedITAT Chandigarh14 Oct 2024AY 2013-14

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Tejmohan Singh, Advocate and Shri Pankaj Gupta, AdvocateFor Respondent: Smt. Kusum Bansal, CIT, DR
Section 80I

…n account of material purchased and that, therefore, it is eligible for deduction. The Ld. Counsel for the assessee has sought to place reliance on the decision of the Hon’ble Punjab & Haryana High Court in the case of “ CIT Vs. Metalman Auto P. Ltd.”, (2011) 336 ITR 434 (P&H). Reliance has further been sought to be placed on the Tribunal decision dt. 18/08/2022 in the assessee’s associate company, in the case of “Vardhman Yarns & Threads Ltd. Vs. DCIT”, for A.Y. 2014-15, in ITA No. 536/2019. 4.5 We find that the receipt of Rebate and Discount is undisputedly turnover discount received from suppliers, which relat…

DCIT, C-1, LUDHIANA vs. M/S VARDHMAN TEXTILES LIMITED, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

ITA 260/CHANDI/2019[2014-15]Status: DisposedITAT Chandigarh14 Oct 2024AY 2014-15

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Tejmohan Singh, Advocate and Shri Pankaj Gupta, AdvocateFor Respondent: Smt. Kusum Bansal, CIT, DR
Section 80I

…n account of material purchased and that, therefore, it is eligible for deduction. The Ld. Counsel for the assessee has sought to place reliance on the decision of the Hon’ble Punjab & Haryana High Court in the case of “ CIT Vs. Metalman Auto P. Ltd.”, (2011) 336 ITR 434 (P&H). Reliance has further been sought to be placed on the Tribunal decision dt. 18/08/2022 in the assessee’s associate company, in the case of “Vardhman Yarns & Threads Ltd. Vs. DCIT”, for A.Y. 2014-15, in ITA No. 536/2019. 4.5 We find that the receipt of Rebate and Discount is undisputedly turnover discount received from suppliers, which relat…

M/S VARDHMAN TEXTILES LIMITED,LUDHIANA vs. DCIT, C-1, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

ITA 187/CHANDI/2019[2014-15]Status: DisposedITAT Chandigarh14 Oct 2024AY 2014-15

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Tejmohan Singh, Advocate and Shri Pankaj Gupta, AdvocateFor Respondent: Smt. Kusum Bansal, CIT, DR
Section 80I

…n account of material purchased and that, therefore, it is eligible for deduction. The Ld. Counsel for the assessee has sought to place reliance on the decision of the Hon’ble Punjab & Haryana High Court in the case of “ CIT Vs. Metalman Auto P. Ltd.”, (2011) 336 ITR 434 (P&H). Reliance has further been sought to be placed on the Tribunal decision dt. 18/08/2022 in the assessee’s associate company, in the case of “Vardhman Yarns & Threads Ltd. Vs. DCIT”, for A.Y. 2014-15, in ITA No. 536/2019. 4.5 We find that the receipt of Rebate and Discount is undisputedly turnover discount received from suppliers, which relat…

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CIT v. Metalman Auto P. Ltd. (336 ITR 434) — Cited in 91 Judgments | BharatTax