CIT v. Millind Trading Co. (P.) Ltd.

211 ITR 690Reported decision1995#23618 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 348,615 Indian tax judgments — from 2017 to 2022.

Judgments citing CIT v. Millind Trading Co. (P.) Ltd.

ACIT, Chennai vs. M/S. Tvs Motor Company Limited, Chennai

In the result, appeal of the revenue is dismissed

ITA 1782/CHNY/2012[2008-09]Status: DisposedITAT Chennai13 Apr 2022AY 2008-09

Bench: S/Shri Shri Chandra Mohan Garg, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaassessment Year : 2008-09 The The Asst. Asst. Commissioner Commissioner Of Of Vs. M/S. Tvs Motor Company Ltd., M/S. Tvs Motor Company Ltd., Income Tax, Company Circle Income Tax, Company Circle- Jayalakshmi Estates, 29 (Old Jayalakshmi Estates, 29 (Old Iii(2), New Block, 4Th Floor, 121, Iii(2), New Block, 4 No.8), Haddows Road, Chennai No.8), Haddows Road, Chennai Mahatma Mahatma Gandhi Gandhi Road, Road, Nungambakkam, Chennai Nungambakkam, Chennai Pan/Gir No.Aaacs 7032 B Aaacs 7032 B (Appellant) (Appellant .. ( Respondent Respondent) Assessee By : Shri Vikram Vijayaraghavan, Vikram Vijayaraghavan, Ar Revenue By : Dr. S.Palanikumar, Cit ( Cit (Dr) Date Of Hearing : 24 /2/ 2022 2 Date Of Pronouncement : 13/4/20 /2022 O R D E R Per C.M.Garg, Jm , Jm

For Appellant: Shri Vikram VijayaraghavanFor Respondent: Dr. S.Palanikumar, CIT (

Section 80Section 80HSection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, ‘ D ‘ CHENNAI BENCH, CHENNAI BEFORE S/SHRI SHRI CHANDRA MOHAN GARG, JUDICIAL JUDICIAL MEMBER AND ARUN KHODPIA, ACCOUNTANT MEMBER AND ARUN KHODPIA, ACCOUNTANT MEMBER AND ARUN KHODPIA, ACCOUNTANT MEMBER Assessment Year : 2008-09 The The Asst. Asst. Commissioner Commissioner of of Vs. M/s. TVS Motor Company Ltd., M/s. TVS Motor Company Ltd., Income Tax, Company Circle Income Tax, Company Circle- Jayalakshmi Estates, 29 (old Jayalakshmi Estates, 29 (old III(2), New Block, 4th floor, 121, III(2), New Bloc…

The Deputy Commissioner of Income Tax, Circle-1(1), Guntur vs. Andhra Trade Development Corporation Private Limited, Guntur

In the result, appeal filed by the Revenue and the cross objection filed by the assessee are dismissed

ITA 434/VIZ/2019[2015-16]Status: DisposedITAT Visakhapatnam05 May 2021AY 2015-16

Bench: Shri N.K. Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon'Ble

For Appellant: Shri G.V.N. Hari, AdvocateFor Respondent: Shri K.S. Rajendra Kumar, CIT DR

Section 143(1)Section 250(6)Section 50

…A) observed that this plea is meaningless and the provisions of s. 50 are applicable to assessee's cases. Reference was also made on the decision of the Hon'ble Gujarat High Court in the case of CIT v. Millind Trading Co. (P.) Ltd. [1994] 76 Taxman 389/[1995] 211 ITR 690 , holding that there is no provision which gives option to the assessee to show the profit as income from one source and carry forward a loss from other source of income to the next year. The CIT(A) also referred to the judgment of the Hon'ble Supreme Court in the case of CIT v. Urmila Ramesh [1998] 96 Taxman 533 , holding that provisions of s. 4…

M.K. Creations, Mumbai vs. ITO WD 14(1)(3), Mumbai

The appeal of the assessee is allowed

ITA 3885/MUM/2014[2010-11]Status: DisposedITAT Mumbai07 Apr 2017AY 2010-11

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Years: 2010-11 M/S M.K. Creations, Income Tax Officer C/O- Shankarlal Jain & Ward-14(1)(3), बनाम/ Associates, Earnest House, Vs. 12, Engineer Building, Nariman Point, 265, Princess Street, Mumbai-400021 Mumbai-400002 ("नधा"रती/Assessee) (राज"व /Revenue) Pa No.:-Aaafm2004J "नधा"रती क" ओर से / Assessee By Shri Shankarlal Jain Shri Suman Kumar-Dr राज"व क" ओर से / Revenue By 06/04/2017 सुनवाई क" तार"ख / Date Of Hearing : 07/04/2017 आदेश क" तार"ख /Date Of Order:

Section 14Section 143(3)Section 50Section 72

…assessee. In this view of the matter, the objection raised by the authorities below, in our humble understanding, are devoid of any legal substance. Coming to the judicial precedents cited by the CIT (A), we find that in the case of Millind Trading Co. P.Ltd, 211 ITR 690 (supra), Their Lordships were concerned with the question whether or not the assessee had option of not setting off the losses incurred against the income from difference sources under the head “business income”. The issue was thus confined to the question as to how the total income for a particular assessment year is to be computed. This decisio…