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 367,181 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.

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 464/HYD/2023[2010-11]Status: DisposedITAT Hyderabad29 Jul 2024AY 2010-11

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…ied at any time before the assessment is completed and there is no need to file a revised return as held by the Hon'ble Supreme court in the case of M/S Gotez in 284 ITR 323. d) The appellant relied on the following decisions: - CIT Vs. Metalman Auto (P) Ltd 336 ITR 434 (P&H) - CIT Vs. Jai para Bolic Springs Ltd 306 ITR 42 (Del) e) The appellant submitted audited profit and loss account and revised computation of Income for the AY 2009-10. 10.4 The submissions of the appellant have been carefully considered. The Assessing Officer has categorically said in the Consequential order dated 31.03.2016 that this issue…

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 463/HYD/2023[2014-15]Status: DisposedITAT Hyderabad29 Jul 2024AY 2014-15

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…ied at any time before the assessment is completed and there is no need to file a revised return as held by the Hon'ble Supreme court in the case of M/S Gotez in 284 ITR 323. d) The appellant relied on the following decisions: - CIT Vs. Metalman Auto (P) Ltd 336 ITR 434 (P&H) - CIT Vs. Jai para Bolic Springs Ltd 306 ITR 42 (Del) e) The appellant submitted audited profit and loss account and revised computation of Income for the AY 2009-10. 10.4 The submissions of the appellant have been carefully considered. The Assessing Officer has categorically said in the Consequential order dated 31.03.2016 that this issue…

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 462/HYD/2023[2013-14]Status: DisposedITAT Hyderabad29 Jul 2024AY 2013-14

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…ied at any time before the assessment is completed and there is no need to file a revised return as held by the Hon'ble Supreme court in the case of M/S Gotez in 284 ITR 323. d) The appellant relied on the following decisions: - CIT Vs. Metalman Auto (P) Ltd 336 ITR 434 (P&H) - CIT Vs. Jai para Bolic Springs Ltd 306 ITR 42 (Del) e) The appellant submitted audited profit and loss account and revised computation of Income for the AY 2009-10. 10.4 The submissions of the appellant have been carefully considered. The Assessing Officer has categorically said in the Consequential order dated 31.03.2016 that this issue…

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-5(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 461/HYD/2023[2012-13]Status: DisposedITAT Hyderabad29 Jul 2024AY 2012-13

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…ied at any time before the assessment is completed and there is no need to file a revised return as held by the Hon'ble Supreme court in the case of M/S Gotez in 284 ITR 323. d) The appellant relied on the following decisions: - CIT Vs. Metalman Auto (P) Ltd 336 ITR 434 (P&H) - CIT Vs. Jai para Bolic Springs Ltd 306 ITR 42 (Del) e) The appellant submitted audited profit and loss account and revised computation of Income for the AY 2009-10. 10.4 The submissions of the appellant have been carefully considered. The Assessing Officer has categorically said in the Consequential order dated 31.03.2016 that this issue…

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 460/HYD/2023[2011-12]Status: DisposedITAT Hyderabad29 Jul 2024AY 2011-12

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…ied at any time before the assessment is completed and there is no need to file a revised return as held by the Hon'ble Supreme court in the case of M/S Gotez in 284 ITR 323. d) The appellant relied on the following decisions: - CIT Vs. Metalman Auto (P) Ltd 336 ITR 434 (P&H) - CIT Vs. Jai para Bolic Springs Ltd 306 ITR 42 (Del) e) The appellant submitted audited profit and loss account and revised computation of Income for the AY 2009-10. 10.4 The submissions of the appellant have been carefully considered. The Assessing Officer has categorically said in the Consequential order dated 31.03.2016 that this issue…

The Andhra Pradesh State Co Operative Bank Limited, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 241/HYD/2018[2009-10]Status: DisposedITAT Hyderabad29 Jul 2024AY 2009-10

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…ied at any time before the assessment is completed and there is no need to file a revised return as held by the Hon'ble Supreme court in the case of M/S Gotez in 284 ITR 323. d) The appellant relied on the following decisions: - CIT Vs. Metalman Auto (P) Ltd 336 ITR 434 (P&H) - CIT Vs. Jai para Bolic Springs Ltd 306 ITR 42 (Del) e) The appellant submitted audited profit and loss account and revised computation of Income for the AY 2009-10. 10.4 The submissions of the appellant have been carefully considered. The Assessing Officer has categorically said in the Consequential order dated 31.03.2016 that this issue…

The Andhra Pradesh State Cooperative Bank Limited, Hyderabad vs. Asst.Commissioner of Income Tax, Circle-5(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 1796/HYD/2017[2008-09]Status: DisposedITAT Hyderabad29 Jul 2024AY 2008-09

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…ied at any time before the assessment is completed and there is no need to file a revised return as held by the Hon'ble Supreme court in the case of M/S Gotez in 284 ITR 323. d) The appellant relied on the following decisions: - CIT Vs. Metalman Auto (P) Ltd 336 ITR 434 (P&H) - CIT Vs. Jai para Bolic Springs Ltd 306 ITR 42 (Del) e) The appellant submitted audited profit and loss account and revised computation of Income for the AY 2009-10. 10.4 The submissions of the appellant have been carefully considered. The Assessing Officer has categorically said in the Consequential order dated 31.03.2016 that this issue…

ITO, New Delhi vs. M/S Ansal Housing & Construction Ltd., New Delhi

In the result, the cross-objection filed by the assessee is dismissed

ITA 2731/DEL/2010[2007-08]Status: DisposedITAT Delhi26 Jul 2024AY 2007-08

Bench: Shri G.S.Pannu & Shri Kul Bharat[Assessment Year : 2007-08] Dcit, Vs Ansal Housing & Construction Ltd., Central Circle-20, Ugf-15, Indraprastha Building, 21, New Delhi. Barakhamba Road, New Delhi. Pan-Aaaca0377R Appellant Respondent

Section 143(3)Section 14ASection 80Section 80I

…Mfg. Co. Ltd. v. CIT: 394 ITR 449 (SC) - Maxopp Investment Ltd. v. CIT: 402 ITR 640 (SC) affirming decision of the Delhi High Court in Maxopp Investment Ltd. vs. CIT: 347 ITR 272 (Del.) - CIT vs. 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. Torrent Power Ltd.: 363 ITR 474 (Guj). As regards old investment, it is respectfully submitted that such investment has been accepted to be made out of interest free funds inasmuch as no disallowance under section 14A of the Act was made in respect thereof in preceding…

ACIT, Central Circle- 27, New Delhi vs. Uflex Ltd., New Delhi

In the result, appeals of the assessee for AY 2011-12 and subsequent

ITA 2200/DEL/2018[2014-15]Status: DisposedITAT Delhi25 Jan 2024AY 2014-15

Bench: N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 115JSection 14ASection 801BSection 80I

…same has resulted on account of purchase made from foreign suppliers which is nothing but reduction in cost of purchases and therefore eligible for deduction U/s 801B. The appellant relied upon the judgment in the case of CIT Vs. Metal Man Auto P Ltd. (2011) 336 ITR 434 (P&H) and the judgment of Hon'ble Madras High Court in Fenner (India) Pvt. Ltd. vs. CIT (2000) 241 ITR 803 (Mad.). Regarding the sum of Rs.77,000/- on account of rent in Jammu Unit III, the appellant has submitted that the same has arisen on account of space provided to banks for providing ATM facilities as Banking ATM facilities are essential to…

ACIT, Central Circle- 27, New Delhi vs. Uflex Ltd., New Delhi

In the result, appeals of the assessee for AY 2011-12 and subsequent

ITA 2199/DEL/2018[2013-14]Status: DisposedITAT Delhi25 Jan 2024AY 2013-14

Bench: N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 115JSection 14ASection 801BSection 80I

…same has resulted on account of purchase made from foreign suppliers which is nothing but reduction in cost of purchases and therefore eligible for deduction U/s 801B. The appellant relied upon the judgment in the case of CIT Vs. Metal Man Auto P Ltd. (2011) 336 ITR 434 (P&H) and the judgment of Hon'ble Madras High Court in Fenner (India) Pvt. Ltd. vs. CIT (2000) 241 ITR 803 (Mad.). Regarding the sum of Rs.77,000/- on account of rent in Jammu Unit III, the appellant has submitted that the same has arisen on account of space provided to banks for providing ATM facilities as Banking ATM facilities are essential to…

ACIT, Central Circle- 27, New Delhi vs. Uflex Ltd., New Delhi

In the result, appeals of the assessee for AY 2011-12 and subsequent

ITA 2198/DEL/2018[2012-13]Status: DisposedITAT Delhi25 Jan 2024AY 2012-13

Bench: N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 115JSection 14ASection 801BSection 80I

…same has resulted on account of purchase made from foreign suppliers which is nothing but reduction in cost of purchases and therefore eligible for deduction U/s 801B. The appellant relied upon the judgment in the case of CIT Vs. Metal Man Auto P Ltd. (2011) 336 ITR 434 (P&H) and the judgment of Hon'ble Madras High Court in Fenner (India) Pvt. Ltd. vs. CIT (2000) 241 ITR 803 (Mad.). Regarding the sum of Rs.77,000/- on account of rent in Jammu Unit III, the appellant has submitted that the same has arisen on account of space provided to banks for providing ATM facilities as Banking ATM facilities are essential to…

ACIT, Central Circle- 27, New Delhi vs. Uflex Ltd., New Delhi

In the result, appeals of the assessee for AY 2011-12 and subsequent

ITA 2197/DEL/2018[2011-12]Status: DisposedITAT Delhi25 Jan 2024AY 2011-12

Bench: N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 115JSection 14ASection 801BSection 80I

…same has resulted on account of purchase made from foreign suppliers which is nothing but reduction in cost of purchases and therefore eligible for deduction U/s 801B. The appellant relied upon the judgment in the case of CIT Vs. Metal Man Auto P Ltd. (2011) 336 ITR 434 (P&H) and the judgment of Hon'ble Madras High Court in Fenner (India) Pvt. Ltd. vs. CIT (2000) 241 ITR 803 (Mad.). Regarding the sum of Rs.77,000/- on account of rent in Jammu Unit III, the appellant has submitted that the same has arisen on account of space provided to banks for providing ATM facilities as Banking ATM facilities are essential to…

Uflex Ltd., New Delhi vs. ACIT, Central Circle- 27, New Delhi

In the result, appeals of the assessee for AY 2011-12 and subsequent

ITA 1572/DEL/2018[2014-15]Status: DisposedITAT Delhi25 Jan 2024AY 2014-15

Bench: N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 115JSection 14ASection 801BSection 80I

…same has resulted on account of purchase made from foreign suppliers which is nothing but reduction in cost of purchases and therefore eligible for deduction U/s 801B. The appellant relied upon the judgment in the case of CIT Vs. Metal Man Auto P Ltd. (2011) 336 ITR 434 (P&H) and the judgment of Hon'ble Madras High Court in Fenner (India) Pvt. Ltd. vs. CIT (2000) 241 ITR 803 (Mad.). Regarding the sum of Rs.77,000/- on account of rent in Jammu Unit III, the appellant has submitted that the same has arisen on account of space provided to banks for providing ATM facilities as Banking ATM facilities are essential to…

Uflex Ltd., New Delhi vs. ACIT, Central Circle- 27, New Delhi

In the result, appeals of the assessee for AY 2011-12 and subsequent

ITA 1571/DEL/2018[2013-14]Status: DisposedITAT Delhi25 Jan 2024AY 2013-14

Bench: N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 115JSection 14ASection 801BSection 80I

…same has resulted on account of purchase made from foreign suppliers which is nothing but reduction in cost of purchases and therefore eligible for deduction U/s 801B. The appellant relied upon the judgment in the case of CIT Vs. Metal Man Auto P Ltd. (2011) 336 ITR 434 (P&H) and the judgment of Hon'ble Madras High Court in Fenner (India) Pvt. Ltd. vs. CIT (2000) 241 ITR 803 (Mad.). Regarding the sum of Rs.77,000/- on account of rent in Jammu Unit III, the appellant has submitted that the same has arisen on account of space provided to banks for providing ATM facilities as Banking ATM facilities are essential to…

Uflex Ltd., New Delhi vs. ACIT, Central Circle- 27, New Delhi

In the result, appeals of the assessee for AY 2011-12 and subsequent

ITA 1570/DEL/2018[2012-13]Status: DisposedITAT Delhi25 Jan 2024AY 2012-13

Bench: N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 115JSection 14ASection 801BSection 80I

…same has resulted on account of purchase made from foreign suppliers which is nothing but reduction in cost of purchases and therefore eligible for deduction U/s 801B. The appellant relied upon the judgment in the case of CIT Vs. Metal Man Auto P Ltd. (2011) 336 ITR 434 (P&H) and the judgment of Hon'ble Madras High Court in Fenner (India) Pvt. Ltd. vs. CIT (2000) 241 ITR 803 (Mad.). Regarding the sum of Rs.77,000/- on account of rent in Jammu Unit III, the appellant has submitted that the same has arisen on account of space provided to banks for providing ATM facilities as Banking ATM facilities are essential to…

Uflex Ltd., New Delhi vs. ACIT, Central Circle- 27, New Delhi

In the result, appeals of the assessee for AY 2011-12 and subsequent

ITA 1569/DEL/2018[2011-12]Status: DisposedITAT Delhi25 Jan 2024AY 2011-12

Bench: N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 115JSection 14ASection 801BSection 80I

…same has resulted on account of purchase made from foreign suppliers which is nothing but reduction in cost of purchases and therefore eligible for deduction U/s 801B. The appellant relied upon the judgment in the case of CIT Vs. Metal Man Auto P Ltd. (2011) 336 ITR 434 (P&H) and the judgment of Hon'ble Madras High Court in Fenner (India) Pvt. Ltd. vs. CIT (2000) 241 ITR 803 (Mad.). Regarding the sum of Rs.77,000/- on account of rent in Jammu Unit III, the appellant has submitted that the same has arisen on account of space provided to banks for providing ATM facilities as Banking ATM facilities are essential to…

Bharat Fritz Werner Ltd., Bangalore vs. DCIT, Bangalore

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

ITA 1123/BANG/2011[2008-09]Status: DisposedITAT Bangalore13 Sept 2023AY 2008-09

Bench: Shri Chandra Poojari & Ms. Madhumita Royassessment Year: 2008-09

For Appellant: Shri T. Suryanarayana, A.RFor Respondent: Shri G. Manoj Kumar, D.R
Section 143(3)

…ITA No.1123/Bang/2011 Bharat Fritz Werner Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “B’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND MS. MADHUMITA ROY, JUDICIAL MEMBER Assessment Year: 2008-09 Bharat Fritz Werner Ltd. Off Tumkur Road Deputy Commissioner of Income- Yeshwanthpur P.O. tax Vs. Bangalore 560 022 Circle – 11(2) Bangalore PAN NO : AAACB5723A APPELLANT RESPONDENT Appellant by : Shri T. Suryanarayana, A.R. Respondent by : Shri G. Manoj Kumar, D.R. Date of Hearing : 13.09.2023 Date of Pronouncement : 13.09.2023 O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: The…

Mmtc Ltd vs. DCIT, Circle-5(1)

The appeal is allowed, with aforesaid consequences, as directed in ground wise findings

ITA 1722/DEL/2006[2003-2004]Status: DisposedITAT Delhi30 Jun 2023AY 2003-2004

Bench: Sh. G.S.Pannu, Hon’Ble & Sh. Anubhav Sharmam/S. Mmtc Ltd., Scope Vs. Dcit, Complex, Circle-5(1) Core 1,7, Institutional Area, New Delhi Lodhi Road, New Delhi- 110003 Pan : (Appellant) (Respondent)

Section 143(3)Section 44ASection 80Section 80H

…DCIT vs. B.A. Aswathaiah & Bros. : 72 TTJ 714 (Bang.) 12. Kadra Mills (CBE) Ltd. v. JCIT : 76 TTJ 38 (Chennai) 13. Mitsu Ltd. v. Asstt. CIT : 142 ITD 157 (Ahd.) 14. ACIT vs. GKN Sinter Metal (P.) Ltd. : 153 ITD 311 (Pune) 15. CIT vs. Metalman Auto (P.) Ltd. : 336 ITR 434 12. On the basis of these judgments cited it was also submitted that expenses like interest from customers and sale tax receipt of interest, commissioner labour charges, scrap of sales insurance receipt etc. have been considered to be income derived from the business. It was submitted that the aforesaid incomes are inextricably linked with the b…

Maruti Suzuki India Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the Revenue in ITA No

ITA 961/DEL/2015[2010-11]Status: DisposedITAT Delhi09 Feb 2023AY 2010-11

Bench: Shri Shamim Yahya & Shri Kul Bharat[Assessment Year : 2010-11] Maruti Suzuki India Ltd., Vs Dcit, Plot No.1, Nelson Mandela Road, Circle-16(1), Vasant Kunj, New Delhi-110070. New Delhi. Pan-Aaacm0829Q Appellant Respondent [Assessment Year : 2010-11] Dcit, Vs Maruti Suzuki India Ltd., Circle-16(1), Plot No.1, Nelson Mandela Road, New Delhi. Vasant Kunj, New Delhi-110070. Pan-Aaacm0829Q Appellant Respondent Appellant By Shri Ajay Vohra, Sr.Adv., Shri Neeraj Jain, Adv. & Ms. Tejasvi Jain & Ms. Somya Jain, Ca Respondent By Shri G.C.Srivastava, Adv., Shri Kalrav Mehrotra, Adv. & Shri Mayank Patawari, Ca Date Of Hearing 11.11.2022 Date Of Pronouncement 09.02.2023

Section 143(3)Section 144CSection 144C(5)Section 43Section 43B

…pronouncements:- [i] CIT vs Walfort Share & Stock Brokers 326 ITR 1 (SC); [ii] Godrej & Boyce Mfg.Co.Ltd. vs DCIT 328 ITR 81 (Bom.); [iii] Maxopp Investment Ltd. 203 Taxman 364 (Del.); [iv] CIT vs Hero Cycles 323 ITR 518 (P&H); [v] CIT vs Metalman Auto P.Ltd. 336 ITR 434 (P&H); [vi] CIT vs Reliance Utilities and Power Ltd. 313 ITR 340 (Bom.); [vii] CIT vs Reliance Industries Ltd. 339 ITR 632 (Bom.); [ix] CIT vs Ms. Sushma Kapoor 319 ITR 299 (Del). 43. Ld. Counsel for the assessee submitted that looking to the facts of the present case, no disallowance u/s 14A of the Act would be warranted. Firstly, the AO has no…

DCIT, New Delhi vs. M/S. Maruti Suzuki India Ltd., New Delhi

In the result, the appeal of the Revenue in ITA No

ITA 1507/DEL/2015[2010-11]Status: DisposedITAT Delhi09 Feb 2023AY 2010-11

Bench: Shri Shamim Yahya & Shri Kul Bharat[Assessment Year : 2010-11] Maruti Suzuki India Ltd., Vs Dcit, Plot No.1, Nelson Mandela Road, Circle-16(1), Vasant Kunj, New Delhi-110070. New Delhi. Pan-Aaacm0829Q Appellant Respondent [Assessment Year : 2010-11] Dcit, Vs Maruti Suzuki India Ltd., Circle-16(1), Plot No.1, Nelson Mandela Road, New Delhi. Vasant Kunj, New Delhi-110070. Pan-Aaacm0829Q Appellant Respondent Appellant By Shri Ajay Vohra, Sr.Adv., Shri Neeraj Jain, Adv. & Ms. Tejasvi Jain & Ms. Somya Jain, Ca Respondent By Shri G.C.Srivastava, Adv., Shri Kalrav Mehrotra, Adv. & Shri Mayank Patawari, Ca Date Of Hearing 11.11.2022 Date Of Pronouncement 09.02.2023

Section 143(3)Section 144CSection 144C(5)Section 43Section 43B

…pronouncements:- [i] CIT vs Walfort Share & Stock Brokers 326 ITR 1 (SC); [ii] Godrej & Boyce Mfg.Co.Ltd. vs DCIT 328 ITR 81 (Bom.); [iii] Maxopp Investment Ltd. 203 Taxman 364 (Del.); [iv] CIT vs Hero Cycles 323 ITR 518 (P&H); [v] CIT vs Metalman Auto P.Ltd. 336 ITR 434 (P&H); [vi] CIT vs Reliance Utilities and Power Ltd. 313 ITR 340 (Bom.); [vii] CIT vs Reliance Industries Ltd. 339 ITR 632 (Bom.); [ix] CIT vs Ms. Sushma Kapoor 319 ITR 299 (Del). 43. Ld. Counsel for the assessee submitted that looking to the facts of the present case, no disallowance u/s 14A of the Act would be warranted. Firstly, the AO has no…