What is CIT v. My Home Power Ltd. authority for?

Receipts from the sale of carbon credits are capital receipts, not business income, as they arise from environmental concerns and not from business operations. Such receipts are not taxable under Sections 2(24), 28, 45, or 56 of the Act, especially prior to the introduction of Section 115BBG.

How many judgments cite CIT v. My Home Power Ltd.?

123 judgments on BharatTax cite CIT v. My Home Power Ltd. (365 ITR 82), spanning 2015 to 2026.

Which sections of the Income Tax Act does CIT v. My Home Power Ltd. come up under?

It is most often cited in judgments turning on Section 1961, Section 143(3), Section 14A, Section 2(24), Section 80IA, Section 115BBG.

CIT v. My Home Power Ltd. (365 ITR 82)

Kalpataru Power Transmission Ltd., Gandhinagar vs. The Dy. CIT, Gandhinagar Circle, Gandhinagar

Appeal of the assessee is dismissed

ITA 2471/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad06 Jul 2022AY 2012-13

For Appellant: Shri Milin Mehta, A.RFor Respondent: Shri Mohd Usman, CIT/DR

Section 143(3)Section 250(6)Section 92C

…from an activity which is not a trading activity is capital in nature by following observation:- 19.1 The Hon'ble High Court further relied on the judgment of Hon'ble Andhra Pradesh High Court in the case of CIT vs. My Home Power Ltd [2014] 46 taxmann.com 314/365 ITR 82 and the judgment of Hon'ble Karnataka High Court in the case of CIT vs. D.G. Gopala Gowda, [2013] 354 ITR 501, which have taken the same view on realization of carbon credits as capital receipt. There is no contrary judgment and the two Hon'ble High Courts, i.e. Andhra Pradesh High Court and Karnataka High Court, having taken a concurrent view on…

Dwarikesh Sugar Industries Ltd, Mumbai vs. Assessing Officer, NFAC, Mumbai

ITA 562/MUM/2022[2017-18]Status: DisposedITAT Mumbai05 Jul 2022AY 2017-18

Bench: Shri Baskaran Br & Shri Kuldip Singhassessment Year: 2017-18 M/S. Dwarikesh Sugar The Assessing Officer, Industries Ltd., National Faceless 511, Maker Chamber – V, Vs. Assessment Centre, 211, Nariman Point, Delhi Mumbai – 400 021 Pan: Aabcd 8192N (Appellant) (Respondent)

For Appellant: Shri Jayesh Dadia, A.RFor Respondent: Shri Sambit Mishra, D.R

Section 143Section 143(3)Section 144BSection 144CSection 234Section 253Section 270A

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “K”, MUMBAI BEFORE SHRI BASKARAN BR, ACCOUNTANT MEMBER AND SHRI KULDIP SINGH, JUDICIAL MEMBER Assessment Year: 2017-18 M/s. Dwarikesh Sugar The Assessing Officer, Industries Ltd., National Faceless 511, Maker Chamber – V, Vs. Assessment Centre, 211, Nariman Point, Delhi Mumbai – 400 021 PAN: AABCD 8192N (Appellant) (Respondent) Present for: Assessee by : Shri Jayesh Dadia, A.R. Revenue by : Shri Sambit Mishra, D.R. Date of Hearing : 17 . 05 . 2022 Date of Pronouncement : 05 . 07 . 2022 O R D E R Per : Kuldip Singh, Judicial Member: The appellant, M/s. Dwari…

Essel Mining & Industries Ltd., Mumbai vs. Dy CIT - CC-1(4), Mumbai

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

ITA 602/MUM/2021[2015-16]Status: DisposedITAT Mumbai27 Jun 2022AY 2015-16

Bench: Shri Kuldip Singh & Shri Gagan Goyalessel Mining & Industries Limited Industry House, 18Th Floor, 10, Camac Street, Kolkata, West Bengal-700017 Pan: Aaace6607L ...... Appellant Vs. Dy. Cit, Central Circle-1(4), 9Th Floor, Old Cgo Building, M.K. Road, Mumbai-400020. ..... Respondent Appellant By : Sh. Yogesh Thar Respondent By : Sh. Amol B. Kirtane Date Of Hearing : 20/06/2022 Date Of Pronouncement : 27/06/2022 Order Per Gagan Goyal, A.M: This Appeal By The Assessee Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-47, Mumbai [Hereinafter Referred To As ‘The Cit (A)’] Vide Order Dated 05.02.2021 For The Assessment Year (Ay) 2015-16. The Assessee Has Raised The Following Grounds Of Appeal: 1. That On The Facts & In The Circumstances Of The Case & In Law, The Commissioner Of Income Tax (Appeals) {Hereinafter Referred To As The Cit(A)} Erred In Confirming The Disallowance Of The Claim Of Carbon Credit Income As Capital Receipt Of Rs. 10,20,587/-. 2. That On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A) Erred In Confirming The Disallowance Of Common Expenses Of Rs. 59,27,000/-.

For Appellant: Sh. Yogesh TharFor Respondent: Sh. Amol B. Kirtane

Section 115JSection 14ASection 28Section 40Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Essel Mining & Industries Limited Industry House, 18th Floor, 10, Camac Street, Kolkata, West Bengal-700017 PAN: AAACE6607L ...... Appellant Vs. Dy. CIT, Central Circle-1(4), 9th Floor, Old CGO Building, M.K. Road, Mumbai-400020. ..... Respondent Appellant by : Sh. Yogesh Thar Respondent by : Sh. Amol B. Kirtane Date of hearing : 20/06/2022 Date of pronouncement : 27/06/2022 ORDER PER GAGAN GOYAL, A.M: This appeal by the assessee is directed against the order of Commiss…

DCIT Cir 10(3)(1), Mumbai vs. Navin Fluorine International Ltd, Mumbai

In the result, the appeals of the assessee is partly allowed while for the appeals of the revenue is dismissed

ITA 7038/MUM/2018[2011-12]Status: DisposedITAT Mumbai24 May 2022AY 2011-12

Bench: Shri Amit Shukla & Shri Amarjit Singh

For Appellant: Ashok MehtaFor Respondent: S.N. Kabra

Section 115JSection 14Section 143(3)Section 14ASection 41(1)

…ironment concern the sale proceeds received on sale of CER is a capital receipt not chargeable to tax. Reliance is placed on the following legal decisions: (a) My Home Power Ltd. V/s. DCIT (Hyderabad ITAT) (2012) 81 DTR 173. Note: Affirmed by Hon. High Court (365 ITR 82.) (b) Pr. CIT V/s. Rajasthan State Mines & Minerals Ltd. (Rajsthan High Court) (13.10.2017) (ITA No. 151 of 2016). (c) CIT V/s. Subhash Kabani Power Corporation Ltd. (Karnataka High Court) (2016) 137 DTR 305. (d) Aditya Birla Nuvo Ltd. & ANR V/s. DCIT & ANR (Mumbai ITAT) (2015) 45 CCH 0222. (e) DCIT V/s. Binani Industries Ltd. (Kolkata ITAT) (201…

Navin Fluorine International Ltd, Mumbai vs. DCIT Cir 7(1), Mumbai

In the result, the appeals of the assessee is partly allowed while for the appeals of the revenue is dismissed

ITA 6491/MUM/2018[2011-12]Status: DisposedITAT Mumbai24 May 2022AY 2011-12

Bench: Shri Amit Shukla & Shri Amarjit Singh

For Appellant: Ashok MehtaFor Respondent: S.N. Kabra

Section 115JSection 14Section 143(3)Section 14ASection 41(1)

…ironment concern the sale proceeds received on sale of CER is a capital receipt not chargeable to tax. Reliance is placed on the following legal decisions: (a) My Home Power Ltd. V/s. DCIT (Hyderabad ITAT) (2012) 81 DTR 173. Note: Affirmed by Hon. High Court (365 ITR 82.) (b) Pr. CIT V/s. Rajasthan State Mines & Minerals Ltd. (Rajsthan High Court) (13.10.2017) (ITA No. 151 of 2016). (c) CIT V/s. Subhash Kabani Power Corporation Ltd. (Karnataka High Court) (2016) 137 DTR 305. (d) Aditya Birla Nuvo Ltd. & ANR V/s. DCIT & ANR (Mumbai ITAT) (2015) 45 CCH 0222. (e) DCIT V/s. Binani Industries Ltd. (Kolkata ITAT) (201…

DCIT Cir 7(1), Mumbai vs. Navine Fluorine International Ltd, Mumbai

In the result, the appeals of the assessee is partly allowed while for the appeals of the revenue is dismissed

ITA 5555/MUM/2014[2010-11]Status: DisposedITAT Mumbai24 May 2022AY 2010-11

Bench: Shri Amit Shukla & Shri Amarjit Singh

For Appellant: Ashok MehtaFor Respondent: S.N. Kabra

Section 115JSection 14Section 143(3)Section 14ASection 41(1)

…ironment concern the sale proceeds received on sale of CER is a capital receipt not chargeable to tax. Reliance is placed on the following legal decisions: (a) My Home Power Ltd. V/s. DCIT (Hyderabad ITAT) (2012) 81 DTR 173. Note: Affirmed by Hon. High Court (365 ITR 82.) (b) Pr. CIT V/s. Rajasthan State Mines & Minerals Ltd. (Rajsthan High Court) (13.10.2017) (ITA No. 151 of 2016). (c) CIT V/s. Subhash Kabani Power Corporation Ltd. (Karnataka High Court) (2016) 137 DTR 305. (d) Aditya Birla Nuvo Ltd. & ANR V/s. DCIT & ANR (Mumbai ITAT) (2015) 45 CCH 0222. (e) DCIT V/s. Binani Industries Ltd. (Kolkata ITAT) (201…

Navin Fluorine International Ltd, Mumbai vs. DCIT Cir 7(1), Mumbai

In the result, the appeals of the assessee is partly allowed while for the appeals of the revenue is dismissed

ITA 5301/MUM/2014[2010-11]Status: DisposedITAT Mumbai24 May 2022AY 2010-11

Bench: Shri Amit Shukla & Shri Amarjit Singh

For Appellant: Ashok MehtaFor Respondent: S.N. Kabra

Section 115JSection 14Section 143(3)Section 14ASection 41(1)

…ironment concern the sale proceeds received on sale of CER is a capital receipt not chargeable to tax. Reliance is placed on the following legal decisions: (a) My Home Power Ltd. V/s. DCIT (Hyderabad ITAT) (2012) 81 DTR 173. Note: Affirmed by Hon. High Court (365 ITR 82.) (b) Pr. CIT V/s. Rajasthan State Mines & Minerals Ltd. (Rajsthan High Court) (13.10.2017) (ITA No. 151 of 2016). (c) CIT V/s. Subhash Kabani Power Corporation Ltd. (Karnataka High Court) (2016) 137 DTR 305. (d) Aditya Birla Nuvo Ltd. & ANR V/s. DCIT & ANR (Mumbai ITAT) (2015) 45 CCH 0222. (e) DCIT V/s. Binani Industries Ltd. (Kolkata ITAT) (201…

DCIT-9(1)(2), Mumbai vs. Ascent Hydro Projects Pvt. Ltd., Mumbai

In the result, appeals filed by the revenue are dismissed

ITA 6732/MUM/2018[2009-10]Status: DisposedITAT Mumbai06 Apr 2022AY 2009-10

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Madhur AgarwalFor Respondent: Shri Mehul Jain

Section 115JSection 80I

…rn and was not having character of trading activity, therefore, receipt from sale of carbon credit was a capital receipt and not business income. While coming to this conclusion, the Hon'ble Court followed the decision in the case of CIT vs My Home Power Ltd. 365 ITR 82 (A.P.) and distinguished the decision in Oberai Hotels Pvt. Ltd. (1999) 103 taxman 236 (SC)(Para-11) and Kettlewll Bullen & Co. Ltd. vs CIT (1964) 53 ITR 261 and further affirmed the decision of the Tribunal (Bangalore Bench) in the case of Subhash Kabini Power Corporation Ltd., therefore, considering the above judicial pronouncements, it is now s…

Pr. CIT 9, Mumbai vs. Ascent Hydro Projects Pvt. Ltd., Mumbai

In the result, appeals filed by the revenue are dismissed

ITA 6427/MUM/2018[2013-14]Status: DisposedITAT Mumbai06 Apr 2022AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Amarjit Singh, Hon'Ble

For Appellant: Shri Madhur AgarwalFor Respondent: Shri Mehul Jain

Section 115JSection 80I

…rn and was not having character of trading activity, therefore, receipt from sale of carbon credit was a capital receipt and not business income. While coming to this conclusion, the Hon'ble Court followed the decision in the case of CIT vs My Home Power Ltd. 365 ITR 82 (A.P.) and distinguished the decision in Oberai Hotels Pvt. Ltd. (1999) 103 taxman 236 (SC)(Para-11) and Kettlewll Bullen & Co. Ltd. vs CIT (1964) 53 ITR 261 and further affirmed the decision of the Tribunal (Bangalore Bench) in the case of Subhash Kabini Power Corporation Ltd., therefore, considering the above judicial pronouncements, it is now s…

Deputy Commissioner of Income Tax, Circle- 6(1)(2), Bangalore vs. M/S. Subhash Kabini Power Corporation Limited, Bangalore

In the result, the appeal filed by the Revenue is dismissed

ITA 350/BANG/2020[2011-12]Status: DisposedITAT Bangalore18 Mar 2022AY 2011-12

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranassessment Year :2011-12 The Deputy Commissioner Of Vs. M/S. Subhash Kabini Power Corporation Ltd., Wing South Portion, Cristu Complex, 5Th Income Tax, Circle – 6(1)(2), Floor, No.41/7, Lavelle Road, Bengaluru. Bengaluru–560 001. Pan : Aaccs 0881 J Appellant Respondent Assessee By : Shri. Ravi Tulsiyan, Ca Revenue By : Shri. Sankar Ganesh K, Jcit(Dr)(Itat), Bengaluru. Date Of Hearing : 14.03.2022 Date Of Pronouncement : .03.2022 O R D E R

For Appellant: Shri. Ravi Tulsiyan, CAFor Respondent: Shri. Sankar Ganesh K, JCIT(DR)(ITAT), Bengaluru

Section 115JSection 143(3)Section 80

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B. R. BASKARAN, ACCOUNTANT MEMBER Assessment Year :2011-12 The Deputy Commissioner of Vs. M/s. Subhash Kabini Power Corporation Ltd., Wing South Portion, Cristu Complex, 5th Income Tax, Circle – 6(1)(2), Floor, No.41/7, Lavelle Road, Bengaluru. Bengaluru–560 001. PAN : AACCS 0881 J APPELLANT RESPONDENT Assessee by : Shri. Ravi Tulsiyan, CA Revenue by : Shri. Sankar Ganesh K, JCIT(DR)(ITAT), Bengaluru. Date of hearing : 14.03.2022 Date of Pronouncement : .03.2022 O R D E R Per N. V. Vasudevan, Vice Presi…

Srf Limited, New Delhi vs. ACIT, Circle- 1, Ltu, New Delhi

Appeals are allowed

ITA 6693/DEL/2018[2006-07]Status: DisposedITAT Delhi07 Feb 2022AY 2006-07

Bench: The Hearing Of The Appeal.

Section 28Section 37

…r, ITAT Hyderabad Bench in the case of CIT Vs. My Home Power Ltd. Hyderabad in ITA No. 1114/Hyd/2009 held that carbon credit receipts are capital in nature. This order of ITAT Hyderabad Bench was subsequently upheld by the Hon'ble Andhra Pradesh High Court in 365 ITR 82.” “6.2 Accordingly, respectfully following the ratio of the settled judicial precedent as aforementioned, we allow the additional grounds raised by the assessee and hold that the income from sale of carbon credits is capital in nature.” 5.3 Coming to the judgments relied upon by the AO and the Ld. CIT(A) and which have been further relied by the…

Deffree Engineering Private Limited, Coimbatore vs. DCIT, Coimbatore

The appeal stand allowed in terms of our above order

ITA 1870/CHNY/2019[2014-15]Status: DisposedITAT Chennai03 Nov 2021AY 2014-15

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.1870/Chny/2019 (िनधा"रण वष" / Assessment Year: 2014-15) M/S. Deffree Engineering Private Ltd. Dcit बनाम/ S.F.No.125/2B, Neelambur Village Corporate Circle-1, Avinashi Road Coimbatore. Vs. Coimbatore-641 014. !थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacd-7943-E (अपीलाथ./Appellant) : (12थ. / Respondent) अपीलाथ.कीओरसे/ Appellant By : Shri S.Sridhar, Advocate 12थ.कीओरसे/Respondent By : Shri Amol Kirtane – Ld. Cit-Dr सुनवाईकीतारीख/ : 13/10/2021 Date Of Hearing घोषणाकीतारीख / : 03/11/2021 Date Of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal () 1. In This Appeal, The Assessee Assails The Validity Of Revisional Jurisdiction U/S 263 As Exercised By Learned Principal Commissioner Of Income Tax-1, Coimbatore (Pr. Cit) Vide Order Dated 11/02/2019. The Assessment Was Framed By Ld. Assessing Officer (Ao) U/S 143(3) Of The Act On 21/11/2016. 2. A Delay Of 67 Days Has Been Noted In The Appeal, The Condonation Of Which Has Been Sought By The Assessee On The Strength Of Condonation Petition As Supported By The Affidavit Of The Director Of The Assessee Company. It Has Been Submitted That Delay Was Not Deliberate

For Appellant: Shri S.Sridhar, AdvocateFor Respondent: Shri Amol Kirtane – Ld. CIT-DR

Section 115BSection 143(3)Section 263Section 80

…1 आयकर अपीलीय अिधकरण “बी” "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHENNAI माननीय "ी महावीर िसंह, उपा"" एवं माननीय "ी मनोज कुमार अ"वाल ,लेखा सद" के सम"। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपील सं./ ITA No.1870/Chny/2019 (िनधा"रण वष" / Assessment Year: 2014-15) M/s. Deffree Engineering Private Ltd. DCIT बनाम/ S.F.No.125/2B, Neelambur Village Corporate Circle-1, Avinashi Road Coimbatore. Vs. Coimbatore-641 014. !थायीलेखासं./जीआइआरसं./PAN/GIR No. AAACD-7943-E (अपीलाथ./Appellant) : (12थ. / Respondent) अपीलाथ.कीओरसे/ Appellant by : Shri S.Sridhar…

Addl. CIT, Special Range- 03, New Delhi vs. Dlf Ltd., New Delhi

ITA 5941/DEL/2017[2012-13]Status: DisposedITAT Delhi10 Sept 2021AY 2012-13

Bench: Shri Amit Shukla & Prashant Maharishi

For Appellant: Shri Surender Pal, CIT-DRFor Respondent: S/Shri R.S. Singhvi & Satyajeet Goel

Section 14A

…sessee has claimed that carbon credits are in the nature of capital receipt not taxable under the I.T. Act. 17.2 The CIT(A) deleted the addition by placing reliance on the decision of Hon’ble Andhra Pradesh High Court in the case of CIT v. My Home Power Ltd. 365 ITR 82 wherein it was held the income from sale of carbon credits is a capital receipt. The CIT(A) further made reference to decisions of Coordinate benches of ITAT. 17.3 We find that in assessee’s own case for AY 2011-12 in ITA No. 4794/D/15, the Coordinate bench has decided this issue in favour of assessee on the basis of decision of Hon’ble Andhra Pr…

ACIT, Corp Cir-2, Coimbatore vs. Indsil Hydro Power & Manganese Ltd, Coimbatore

In the result, the appeal of the Revenue is dismissed

ITA 3491/CHNY/2018[2014-15]Status: DisposedITAT Chennai09 Aug 2021AY 2014-15

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.3491/Chny/2018 िनधा"रण वष"/Assessment Year: 2014-15 The Assistant Commissioner Of M/S. Indsil Hydro Power & Income Tax, Corporate Circle 2, Vs. Manganese Ltd., “Indsil House”, No. 63, Race Course Road, T V Samy Road (West), Coimbatore 641 018. R.S. Puram, Coimbatore 641 002. [Pan: Aaaci4918G] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By Shri G. Johnson, Addl. Cit : ""थ" की ओर से/Respondent By Shri Arjun Raj, Ca For : Shri S. Sridhar, Advocate सुनवाई की तारीख/ Date Of Hearing 04.08.2021 : घोषणा की तारीख /Date Of Pronouncement : 09.08.2021 आदेश /O R D E R Per V. Durga Rao:

Section 2(24)(vd)Section 28Section 43B

…आयकर अपीलीय अिधकरण, ‘बी’ "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी वी. दुगा" राव, "ाियक सद" एवं "ी जी. मऺजुनाथा, लेखा सद" के सम" । Before Shri V. Durga Rao, Judicial Member & Shri G. Manjunatha, Accountant Member आयकर अपील सं./I.T.A. No.3491/Chny/2018 िनधा"रण वष"/Assessment Year: 2014-15 The Assistant Commissioner of M/s. Indsil Hydro Power & Income Tax, Corporate Circle 2, Vs. Manganese Ltd., “Indsil House”, No. 63, Race Course Road, T V Samy Road (West), Coimbatore 641 018. R.S. Puram, Coimbatore 641 002. [PAN: AAACI4918G] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / A…

Bajaj Finserv Ltd, Mumbai vs. DCIT Large Texpayer Unit, Mumbai

In the result, the assessee’s appeal for AY

ITA 4223/MUM/2012[2008-09]Status: DisposedITAT Mumbai24 Jun 2021AY 2008-09

Bench: Shri M. Balaganesh & Shri Pavan Kumar Gadale & Bajaj Finserv Limited, बनाम/ The Deputy Commissioner 226,Bajaj Bhawan, Of Income Tax – Large Vs. 2 Flr,Jamnalal Bajaj Marg Taxpayer Unit, Nariman Point, Mumbai Mumbai - 400021 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcb2924N .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

For Appellant: Shri Percy j Pardiwalla, ARFor Respondent: Shri Shishir Dhamija, CIT DR

Section 143Section 14ASection 244ASection 80

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & Bajaj Finserv Limited, बनाम/ The Deputy Commissioner 226,Bajaj Bhawan, of Income Tax – Large Vs. 2 flr,Jamnalal Bajaj Marg Taxpayer Unit, Nariman Point, Mumbai Mumbai - 400021 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AADCB2924N .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से / Appellant by : Shri Percy j Pardiwalla, AR ""यथ" क" ओर से/Respondent by : Shri Shishir Dhamija, CIT DR सुनवाई क" तार"ख / Date of Hearing 09/04/2021 घोषणा क" तार"ख /Date of Pronou…

Clarion Power Corporation Limited, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-1(2), Hyderabad

Appeal is allowed

ITA 1336/HYD/2018[2008-09]Status: DisposedITAT Hyderabad06 May 2021AY 2008-09

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

For Appellant: Shri P.Murali Mohana Rao, ARFor Respondent: Shri Sunil Kumar Pandey, DR

Section 115BSection 143Section 143(3)Section 147Section 43BSection 80I

…ary to the tribunal’s landmark decision dt.02-11-2012 in My Home Power Ltd., Vs. DCIT (2012) [27 taxmann.com 27] Hyderabad tribunal’s deciding the issue in assessee’s favour as upheld in hon’ble jurisdictional high court in CIT Vs. My Home Power Ltd., (2014) [365 ITR 82] AP. The assessee’s case in the light of hon’ble apex court’s landmark decision in GKN Driveshafts (India) Ltd., Vs. ITO, [(2003) 259 ITR 101 (SC)], that all the facts invalidate the impugned re-opening as well since their lordships have made it clear that there are twin stages of posing challenge to correctness thereof i.e., by filing objections…

ACIT, Chennai vs. Wescare (India) Limited, Chennai

In the result, appeal filed by the revenue is dismissed

ITA 509/CHNY/2017[2009-10]Status: DisposedITAT Chennai12 Apr 2021AY 2009-10

Bench: Shri V.Durga Rao & Shri G.Manjunatha

For Appellant: Mr. I.Dinesh, AdvocateFor Respondent: 23.03.2021

Section 143(3)Section 28Section 43B

…entitlements whose sale proceeds are taxable as revenue receipts and they are also tradable in Stock Exchange. 2.3 It is submitted that the decision of the Honble High Court of Andhra Pradesh relied on by the CIT(A) in the case of MIs. My Home Power Limited (365 ITR 82) is not accepted by the Department and SLP filed in this case and other group cases are pending before the Hon’ble Supreme Court. 3. For these and other grounds that may be adduced at the time of bearing, it is prayed that the order of the learned CIT (A) may be set aside and that of the Assessing Officer restored.” 3. We find that appeal filed…

M/S. Srf Limited, Gurgaon vs. DCIT, New Delhi

In the result appeal of the appellant assessee is partly allowed for statistical purposes

ITA 2064/DEL/2014[2007-08]Status: DisposedITAT Delhi06 Apr 2021AY 2007-08

Bench: Shri Amit Shukla & Shri O.P. Kantassessment Year: 2007-08

For Appellant: S/Shri Pradeep Dinodia &For Respondent: Shri Surender Pal, CIT DR

Section 143(3)Section 14ASection 14A(1)Section 37Section 9C

…lied on theHon’ble Supreme Court’s judgment in case of Goetze India Ltd [284 ITR 323]. 28. The assessee on merits relied upon following judgments of Hon’ble High Courts which have upheld the capital nature of CER receipts:-  CIT vs My Home Power Ltd. [2014] 365 ITR 82 (AP High Court)  SubhashKabini Power Corporation Limited [TS-236- HC-2016(KAR)]  Pr. CIT v. L.H. Sugar Factory Ltd [2016-TIOL-1942- HC-ALL High Court-IT] and  Pr. CIT vs. Arun Textiles Pvt Ltd (Madras High court) (Appeal no 606 of 2016);  Dodson Lindblom Hydro Power Pvt Ltd [2019-TIOL- 531-HC-MUM-IT];  Gujarat Flourochemicals Limited [ITA no.…

DCIT, New Delhi vs. M/S Malana Power Co. Ltd., New Delhi

In the result, appeal filed by the learned assessing officer in ITA number 3713/del/2017 for assessment year 2012 – 13 is dismissed

ITA 3713/DEL/2017[2012-13]Status: DisposedITAT Delhi23 Mar 2021AY 2012-13

Bench: Shri Amit Shuklaa N D Shri Prashant Maharishi(Through Video Conferencing) Dcit, Vs. Malana Power Co. Ltd, Bhilwara Bhawan, Circle-16(1)M 40-41, Community Centre, New Friends Colony, New Delhi New Delhi Pan: Aabcm1108R (Appellant) (Respondent) Malana Power Co. Ltd, Vs. Addl. Dcit, Bhilwara Bhawan, 40-41, Community Centre, New Range-6, Friends Colony, New Delhi New Delhi Pan: Aabcm1108R (Appellant) (Respondent)

For Appellant: Shri P. K. Jain, CAFor Respondent: Shri Sohil Malik, Sr. DR

Section 115JSection 14Section 14ASection 2(14)Section 80I

…the above issue is squarely covered in the favour of the assessee by the decision of the honourable Andhra Pradesh High Court in case of CIT versus my home power Ltd [2014] 46 taxmann.com 314 (Andhra Pradesh)/[2014] 225 Taxman 8 (Andhra Pradesh)(MAG.)/[2014] 365 ITR 82 (Andhra Pradesh)/[2015] 276 CTR 92 (Andhra Pradesh), by the decision of the honourable Karnataka High Court in case of CIT versus Subhash Kabini Power Corporation Ltd[2016] 69 taxmann.com 394 (Karnataka)/[2016] 240 Taxman 514 (Karnataka)/[2016] 385 ITR 592 (Karnataka)/[2016] 287 CTR 147 (Karnataka) and honourable madras High Court in CIT versus Am…

Malana Power Co. Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, appeal filed by the learned assessing officer in ITA number 3713/del/2017 for assessment year 2012 – 13 is dismissed

ITA 2464/DEL/2017[2012-13]Status: DisposedITAT Delhi23 Mar 2021AY 2012-13

Bench: Shri Amit Shuklaa N D Shri Prashant Maharishi(Through Video Conferencing) Dcit, Vs. Malana Power Co. Ltd, Bhilwara Bhawan, Circle-16(1)M 40-41, Community Centre, New Friends Colony, New Delhi New Delhi Pan: Aabcm1108R (Appellant) (Respondent) Malana Power Co. Ltd, Vs. Addl. Dcit, Bhilwara Bhawan, 40-41, Community Centre, New Range-6, Friends Colony, New Delhi New Delhi Pan: Aabcm1108R (Appellant) (Respondent)

For Appellant: Shri P. K. Jain, CAFor Respondent: Shri Sohil Malik, Sr. DR

Section 115JSection 14Section 14ASection 2(14)Section 80I

…the above issue is squarely covered in the favour of the assessee by the decision of the honourable Andhra Pradesh High Court in case of CIT versus my home power Ltd [2014] 46 taxmann.com 314 (Andhra Pradesh)/[2014] 225 Taxman 8 (Andhra Pradesh)(MAG.)/[2014] 365 ITR 82 (Andhra Pradesh)/[2015] 276 CTR 92 (Andhra Pradesh), by the decision of the honourable Karnataka High Court in case of CIT versus Subhash Kabini Power Corporation Ltd[2016] 69 taxmann.com 394 (Karnataka)/[2016] 240 Taxman 514 (Karnataka)/[2016] 385 ITR 592 (Karnataka)/[2016] 287 CTR 147 (Karnataka) and honourable madras High Court in CIT versus Am…

CIT v. My Home Power Ltd.

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Judgments citing CIT v. My Home Power Ltd.

Kalpataru Power Transmission Ltd., Gandhinagar vs. The Dy. CIT, Gandhinagar Circle, Gandhinagar

Dwarikesh Sugar Industries Ltd, Mumbai vs. Assessing Officer, NFAC, Mumbai

Essel Mining & Industries Ltd., Mumbai vs. Dy CIT - CC-1(4), Mumbai

DCIT Cir 10(3)(1), Mumbai vs. Navin Fluorine International Ltd, Mumbai

Navin Fluorine International Ltd, Mumbai vs. DCIT Cir 7(1), Mumbai

DCIT Cir 7(1), Mumbai vs. Navine Fluorine International Ltd, Mumbai

Navin Fluorine International Ltd, Mumbai vs. DCIT Cir 7(1), Mumbai

DCIT-9(1)(2), Mumbai vs. Ascent Hydro Projects Pvt. Ltd., Mumbai

Pr. CIT 9, Mumbai vs. Ascent Hydro Projects Pvt. Ltd., Mumbai

Deputy Commissioner of Income Tax, Circle- 6(1)(2), Bangalore vs. M/S. Subhash Kabini Power Corporation Limited, Bangalore

Srf Limited, New Delhi vs. ACIT, Circle- 1, Ltu, New Delhi

Deffree Engineering Private Limited, Coimbatore vs. DCIT, Coimbatore

Addl. CIT, Special Range- 03, New Delhi vs. Dlf Ltd., New Delhi

ACIT, Corp Cir-2, Coimbatore vs. Indsil Hydro Power & Manganese Ltd, Coimbatore

Bajaj Finserv Ltd, Mumbai vs. DCIT Large Texpayer Unit, Mumbai

Clarion Power Corporation Limited, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-1(2), Hyderabad

ACIT, Chennai vs. Wescare (India) Limited, Chennai

M/S. Srf Limited, Gurgaon vs. DCIT, New Delhi

DCIT, New Delhi vs. M/S Malana Power Co. Ltd., New Delhi

Malana Power Co. Ltd., New Delhi vs. Addl. CIT, New Delhi