CIT v. Nagri Mills Co. Ltd.

33 ITR 681High Court1958#590 most cited

What is CIT v. Nagri Mills Co. Ltd. authority for?

An addition to income is revenue neutral if its tax impact remains the same regardless of the year in which it is assessed. Assessments should not dispute the year of addition when the tax rate and impact are consistent, to avoid unnecessary disputes and potential loss to revenue.

165

judgments rely on this decision, according to BharatTax’s citation analysis of 367,368 Indian tax judgments — from 2010 to 2025.

Also referred to as

CIT v. Nagri Mills Co. Ltd. · 33 ITR 681 · revenue neutral · timing difference · pragmatic view · year of addition · impact of tax · loss to revenue · permissible deduction · Income Tax Act

Sections most often in play

Section 143(3)Section 14ASection 36(1)(vii)Section 194HSection 37(1)Section 40(a)(ia)Section 115JBSection 133(6)

Issues it is cited on

section 145(1)section 211section 145(2)project completion methodsection 35dpercentage completion methodsection 21written down valuemercantile system of accountingretracted statementsection 35section 34

Judgments citing CIT v. Nagri Mills Co. Ltd.

Asstt.Commissioner of Income Tax Circle-5, Nagpur vs. The Nirmal Ujwal Credit Co-Op Society Ltd, Nagpur

In the result, appeal for the A

ITA 391/NAG/2019[2014-15]Status: HeardITAT Nagpur27 Nov 2024AY 2014-15

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Vikash Agrawal
Section 139(1)Section 143(2)Section 143(3)Section 36(1)(viia)Section 80PSection 80P(2)

…be allowed to be claimed in the current year. For this proposition I draw support from the judgment in case of CIT Vs. Vishnu Industrial Gases (2008) (Del)(HC). In this case the judgment of Bombay High Court in the case of CIT Vs. Nagri Mills Co. Ltd. (1958) 33 ITR 681 (Bom) is also considered wherein it was stated that the Assessing Officer should not dispute the year of addition, if the rate of tax and impact of tax remains same. The relevant para of the order, where in the Hon‟ble Delhi High Court has reproduced para of Bombay High Court judgment is as under: “We have often wondered why the Income tax authori…

M/S. Bajaj Auto Ltd., Mumbai vs. Addl. CIT. RG. - 3(1), Mumbai

ITA 1496/MUM/2007[2003-2004]Status: DisposedITAT Mumbai09 Sept 2024AY 2003-2004
Section 115JSection 14ASection 250Section 35DSection 40Section 80H

…in other cases by the various courts as under: (a) ITAT-AY 1999-00 (ITA No. 2125/Mum/05) (b) ITAT AY 1998-99 (ITA No. 8952/Mum/2004) (c) Maharashtra State Electricity Distribution Co. Ltd vs. DCIT (ITA NO.3383/MUM/2019) (d) CIT vs. Nagri Mills Co. Ltd. [1958] 33 ITR 681 (Bom) (e) CIT vs. M/s. Vishnu Industrial Gases P. Ltd (ITR No. 229/1988) (Delhi High Court) (f) John Fowler (India) Pvt. Ltd. vs. THIS (ITA No. 4691/Mum/2005) (g) Escorts Limited vs. DCIT (ITA No.4673/Del/2005) (Delhi Tribunal) (h) Saurashtra Cement & Chemical Industries Ltd. vs. CIT [1995] 213 ITR 523 (Gujarat)…

The Assistant Commissioner of Income Tax, Akola Circle, Akola vs. Shri Ramkisan Natha Darade, Buldhana

In the result, appeal filed by the Revenue is dismissed

ITA 388/NAG/2019[2015-16]Status: DisposedITAT Nagpur02 Sept 2024AY 2015-16

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Abhay AgrawalFor Respondent: Shri Abhay Y. Marathe

…that by bringing the said transactions to tax in the next Assessment Year instead of this, there is likely to be a loss to the Revenue, In fact the impugned order of the Tribunal has relied upon the decision of this Court in CIT v. Nagri Mills Co. Ltd. [1958] 33 ITR 681 and in that context reproduced the decision of Delhi High Court in CIT v. Vishnu Industrial Gases (P) Ltd. [IT Reference No. 229 (Delhi) of 1988, dated 6-5-2008] as under:-" (Emphasis Supplied) 6.7.3 The appellant has placed reliance on the decision of Hon'ble Gujarat HC wherein, the Hon'ble Court had deleted the similar addition made in respect o…

Dy. CIT Circle 3(4), Mumbai vs. Asian Paints Ltd, Mumbai

In the result, appeals filed by assessee and Revenue for A

ITA 3083/MUM/2023[2018-19]Status: DisposedITAT Mumbai26 Jul 2024AY 2018-19

Bench: IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

Section 115JSection 143(3)Section 14ASection 2(43)Section 35Section 40Section 80GSection 90

…common corporate tax rates), the department should not question the year of allowability of expense. 36. In support ld. Counsel has placed reliance on the judgment of the Hon’ble Bombay High Court in the case of CIT vs. Nagri Mills Co. Ltd. reported in (1957) 33 ITR 681 and judgment of Hon’ble Supreme Court in the case of CIT vs. Excel Industries Ltd. reported in (2013) 358 ITR 295. Further, this issue has been restored back by the Tribunal in A.Y.2015-16 after observing as under:- “19. Undisputedly, the assessee is following the mercantile system of accounting. and therefore only such expenses which are crystall…

Asian Paints Limited, Santacruz vs. Deputy Commissioner of Income Tax, Ltu Circle 2, Cuffe Parade

ITA 2700/MUM/2023[2016-17]Status: DisposedITAT Mumbai26 Jul 2024AY 2016-17
Section 143(3)Section 14ASection 2(43)Section 35Section 40Section 50Section 80GSection 90

…common corporate tax rates), the department should not question the year of allowability of expense. 36. In support ld. Counsel has placed reliance on the judgment of the Hon'ble Bombay High Court in the case of CIT vs. Nagri Mills Co. Ltd. reported in (1957) 33 ITR 681 and judgment of Hon'ble Supreme Court in the case of CIT vs. Excel Industries Ltd. reported in (2013) 358 ITR 295. Further, this issue has been restored back by the Tribunal in A.Y.2015-16 after observing as under:- “19. Undisputedly, the assessee is following the mercantile system of accounting. and therefore only such expenses which are crystall…

Asian Paints Limited, Santacruz vs. National Faceless Assessment Centre, Delhi

ITA 2696/MUM/2023[2018-19]Status: DisposedITAT Mumbai26 Jul 2024AY 2018-19
Section 143(3)Section 14ASection 2(43)Section 35Section 40Section 50Section 80GSection 90

…common corporate tax rates), the department should not question the year of allowability of expense. 36. In support ld. Counsel has placed reliance on the judgment of the Hon'ble Bombay High Court in the case of CIT vs. Nagri Mills Co. Ltd. reported in (1957) 33 ITR 681 and judgment of Hon'ble Supreme Court in the case of CIT vs. Excel Industries Ltd. reported in (2013) 358 ITR 295. Further, this issue has been restored back by the Tribunal in A.Y.2015-16 after observing as under:- “19. Undisputedly, the assessee is following the mercantile system of accounting. and therefore only such expenses which are crystall…

DCIT, New Delhi vs. Indofil Industries Ltd., Andheri East, Mumbai

In the result, appeal of Revenue is dismissed

ITA 3941/DEL/2023[2021-22]Status: DisposedITAT Delhi05 Jul 2024AY 2021-22

Bench: Shri G. S. Pannu & Ms. Madhumita Royi.T.A. No. 3941/Del/2023 (Assessment Year : 2021-22) Dcit Vs. Indofil Industrial Ltd. 4Th Floor, Kalpataru Square, Central Circle – 14 New Delhi Kondivita Road, Andheri East, Mumbai – 400 059 Pan: Aabci 4568 D (Appellant) .. (Respondent)

For Appellant: Shri Ankit Agarwal, C.A. &For Respondent: Shri T. James Singson, CIT-D.R
Section 143(3)Section 192Section 194HSection 194JSection 250Section 40

…and Madhya Bharat vs. Nagri Mills Co. Ltd.1, this Court has observed as under: "We have often wondered why the Income-tax authorities, in a matter such as this where the deduction is obviously a permissible deduction under the Income-tax Act, raise disputes 1 33 ITR 681 rsk 5/6 501-ITXA-2027-17.doc as to the year in which the deduction should be allowed. The question as to the DCIT vs. Indofil Industries Ltd. Asst.Year :2021-22 year in which a deduction is allowable may be material when the rate of tax chargeable on the assessee in two different years is different; but in the case of income of a company, tax is a…

Bajaj Holdngs & Investment Ltd ( Erstwhile Bajaj Auto Ltd), Mumbai vs. Addl CIT RG 3(1), Mumbai

In the result, the appeal of the assessee is partly allowed and appeal of the revenue is dismissed

ITA 3043/MUM/2010[2002-013]Status: DisposedITAT Mumbai24 Jun 2024AY 2002-013

Bench: Shri Vikas Awasthy & Shri Amarjit Singhbajaj Holdings & Vs. Additional Commissioner Investment Ltd. Of Income-Tax, Range 3(1) Erstwile Bajaj Auto Ltd.) Aayakar Bhavan, Bajaj Bhavan, 226, M.K. Road, Nariman Point, Mumbai – 400 020 Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Dcit-3(4) Vs. M/S Bajaj Holding & Room No. 481-2, 4Th Floor, Investment Limited Aaykar Bhavan, (Erstwhile Bajaj Auto Ltd) Mumbai – 400020 226, Bajaj Bhavan, 2Nd Floor, Jamnalal Bajaj Marg, Nariman Point Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Appellant By : Percy Pardiwala & Vasanti Patel Respondent By : Ankush Kapoor

For Appellant: Percy Pardiwala &For Respondent: Ankush Kapoor
Section 143(3)Section 2(47)

…in other cases by the various courts as under: (a) ITAT-AY 1999-00 (ITA No. 2125/Mum/05) (b) ITAT AY 1998-99 (ITA No. 8952/Mum/2004) (c) Maharastra State Electricity Distribution Co. Ltd vs. DCIT (ITA NO.3383/MUM/2019) (d) CIT vs. Nagri Mills Co. Ltd. [1958] 33 ITR 681 (Bom) (e) CIT vs. M/s. Vishnu Industrial Gases P. Ltd (ITR No. 229/1988) (Delhi High Court) (f) John Fowler (India) Pvt. Ltd. vs. THIS (ITA No. 4691/Mum/2005) (g) Escorts Limited Vs. DCIT (ITA No.4673/Del/2005) (Delhi Tribunal) (h) Saurashtra Cement & Chemical Industries Ltd. Vs. CIT [1995] 213 ITR 523 (Gujarat)” P a g e | 38 ITA No.3043 & 2899/M…

Addl CIT RG 3(1), Mumbai vs. Bajaj Auto Ltd, Mumbai

In the result, the appeal of the assessee is partly allowed and appeal of the revenue is dismissed

ITA 2899/MUM/2010[2002-03]Status: DisposedITAT Mumbai24 Jun 2024AY 2002-03

Bench: Shri Vikas Awasthy & Shri Amarjit Singhbajaj Holdings & Vs. Additional Commissioner Investment Ltd. Of Income-Tax, Range 3(1) Erstwile Bajaj Auto Ltd.) Aayakar Bhavan, Bajaj Bhavan, 226, M.K. Road, Nariman Point, Mumbai – 400 020 Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Dcit-3(4) Vs. M/S Bajaj Holding & Room No. 481-2, 4Th Floor, Investment Limited Aaykar Bhavan, (Erstwhile Bajaj Auto Ltd) Mumbai – 400020 226, Bajaj Bhavan, 2Nd Floor, Jamnalal Bajaj Marg, Nariman Point Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Appellant By : Percy Pardiwala & Vasanti Patel Respondent By : Ankush Kapoor

For Appellant: Percy Pardiwala &For Respondent: Ankush Kapoor
Section 143(3)Section 2(47)

…in other cases by the various courts as under: (a) ITAT-AY 1999-00 (ITA No. 2125/Mum/05) (b) ITAT AY 1998-99 (ITA No. 8952/Mum/2004) (c) Maharastra State Electricity Distribution Co. Ltd vs. DCIT (ITA NO.3383/MUM/2019) (d) CIT vs. Nagri Mills Co. Ltd. [1958] 33 ITR 681 (Bom) (e) CIT vs. M/s. Vishnu Industrial Gases P. Ltd (ITR No. 229/1988) (Delhi High Court) (f) John Fowler (India) Pvt. Ltd. vs. THIS (ITA No. 4691/Mum/2005) (g) Escorts Limited Vs. DCIT (ITA No.4673/Del/2005) (Delhi Tribunal) (h) Saurashtra Cement & Chemical Industries Ltd. Vs. CIT [1995] 213 ITR 523 (Gujarat)” P a g e | 38 ITA No.3043 & 2899/M…

Sh Tech Park Developers Pvt. Ltd., Gurgaon vs. ACIT, Circle-22(2), New Delhi

In the result, grounds raised by the assessee are allowed for

ITA 2043/DEL/2023[2018-19]Status: DisposedITAT Delhi21 Jun 2024AY 2018-19

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

…cted at a uniform rate and that year of taxation would be a matter of no consequence to the department and one should have consider that the department would not fitter away its enquires in fighting matter of this kind (CIT vs Nagri Mills Co. Ltd. reported in 33 ITR 681). Again the Apex Court in CIT vs. Excel Industries Ltd. reported as 358 ITR 295 at page 304, it was held that the dispute raised by the revenue is entirely academic or at best may have a minor tax effect.” 5. After considering the submissions of the assessee and assessment order Ld. CIT(A) dismissed the grounds raised by the assessee by observing…

Income Tax Officer, Ward-2, Panvel, Raigad vs. Shekhar Gajanan Wani, Panvel

Appeal is allowed in above terms

ITA 41/PUN/2023[2010-11]Status: DisposedITAT Pune26 Apr 2024AY 2010-11

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripote

For Appellant: Shri Subodh RatnaparkhiFor Respondent: Shri Sourabh Nayak, Addl. CIT
Section 143(3)

…UN./2023 (iii) Pr. CIT -vs- Rohan Projects, 113 taxmann.com 339 (Bombay) Where assessee had sold a land but certain obligations were not completed, it was held that income would arise only on completion of such obligations. (iv) CIT -vs- Nagri Mills Co. Ltd., 33 ITR 681 (Bombay) If the rate of tax is same, the dispute with respect to year of taxation is not relevant (v) Deloitte Touche Tohmatsu India (P.) Ltd. -vs- DCIT, 109 taxmann.com 431 (Mumbai) Where relevant income was offered to tax in subsequent asst, year, there was no loss to revenue. (vi) DCIT -vs- M/s. Shiv Sai Developers, 134 ITD 445 (Mum) An advance…

Addl. CIT-(08), New Delhi vs. Sopra India Pvt. Ltd., New Delhi

In the result, appeal of the Revenue thus is dismissed

ITA 1175/DEL/2019[2012-13]Status: DisposedITAT Delhi16 Oct 2023AY 2012-13
Section 143(3)Section 145

…on'ble Delhi High Court in DCIT vs Triveni Engineering had observed: “12. We are reminded of the classic observations made by Justice Tendolker in the case of the Commissioner of Income-tax, Delhi, Ajmer, Rajasthan and Madhya Bharat Vs. Nagri Mills Co. Ltd. 133 ITR 681], which reads as under: "We have often wondered why the Income-tax authorities, in a matter such as this where the deduction is obviously a permissible deduction under the Income-tax Act, raise disputes as to the year in which the deduction should be allowed. The question as to the year in which a deduction is allowable may be material when the r…

Suresh Productions, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-14(1), Hyderabad

In the result, the appeal filed by the Revenue as well as all the appeals and C

ITA 2105/HYD/2018[2014-15]Status: DisposedITAT Hyderabad11 Oct 2023AY 2014-15

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyappeal In Ita No Appellant Respondent A.Y 1429/Hyd/2014 Acit Circle M/S. Suresh 2003-04 13(1) Hyderabad Productions Hyderabad Co 78/Hyd/2014 M/S. Suresh Acit Circle 13(1) 2003-04 (Ita Productions Hyderabad 1429/H/2014) Hyderabad 2102/Hyd/2018 -Do- Addl.Cit, Range 13(Old) 2010-11 Range-14 (Present) Hyderabad 2103/Hyd/2018 -Do- Dy.Cit, Circle 14(1) 2012-13 Hyderabad 2104/Hyd/2018 -Do- -Do- 2013-14 2105/Hyd/2018 -Do- -Do- 2014-15 Assessee By: Shri K.C. Devdas, Ca Revenue By: Shri Shakeer Ahmed, Dr

For Appellant: Shri K.C. Devdas, CAFor Respondent: Shri Shakeer Ahmed, DR
Section 143(3)Section 148

…ce is caused to the Department as the entire sum of Rs.1,50,00,000/- has been taxed on deferral basis over a period of time. For the above proposition, the learned Counsel for the assessee relied upon the following decisions: i) CIT vs. Nagari Mills Co. Ltd (33 ITR 681) (Bombay) ii) Berger Paints India Ltd (266 ITR 99) (pages 103-104) (S.C) iii) PCIT v. Rajesh Prakash Timblo (2019 (415 ITR 334) (Bombay) iv) CIT vs. Excel Producer Ltd (358 ITR 295).(S.C) 21. The learned DR in his rejoinder submitted that the question of issue of notice u/s 143(2) does not arise since the assessee failed to submit the return of i…

Suresh Productions, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-14(1), Hyderabad

In the result, the appeal filed by the Revenue as well as all the appeals and C

ITA 2104/HYD/2018[2013-14]Status: DisposedITAT Hyderabad11 Oct 2023AY 2013-14

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyappeal In Ita No Appellant Respondent A.Y 1429/Hyd/2014 Acit Circle M/S. Suresh 2003-04 13(1) Hyderabad Productions Hyderabad Co 78/Hyd/2014 M/S. Suresh Acit Circle 13(1) 2003-04 (Ita Productions Hyderabad 1429/H/2014) Hyderabad 2102/Hyd/2018 -Do- Addl.Cit, Range 13(Old) 2010-11 Range-14 (Present) Hyderabad 2103/Hyd/2018 -Do- Dy.Cit, Circle 14(1) 2012-13 Hyderabad 2104/Hyd/2018 -Do- -Do- 2013-14 2105/Hyd/2018 -Do- -Do- 2014-15 Assessee By: Shri K.C. Devdas, Ca Revenue By: Shri Shakeer Ahmed, Dr

For Appellant: Shri K.C. Devdas, CAFor Respondent: Shri Shakeer Ahmed, DR
Section 143(3)Section 148

…ce is caused to the Department as the entire sum of Rs.1,50,00,000/- has been taxed on deferral basis over a period of time. For the above proposition, the learned Counsel for the assessee relied upon the following decisions: i) CIT vs. Nagari Mills Co. Ltd (33 ITR 681) (Bombay) ii) Berger Paints India Ltd (266 ITR 99) (pages 103-104) (S.C) iii) PCIT v. Rajesh Prakash Timblo (2019 (415 ITR 334) (Bombay) iv) CIT vs. Excel Producer Ltd (358 ITR 295).(S.C) 21. The learned DR in his rejoinder submitted that the question of issue of notice u/s 143(2) does not arise since the assessee failed to submit the return of i…

Suresh Productions, Hyderabad vs. Dy. Commissioner of Income Tax, Circle-14(1), Hyderabad

In the result, the appeal filed by the Revenue as well as all the appeals and C

ITA 2103/HYD/2018[2012-13]Status: DisposedITAT Hyderabad11 Oct 2023AY 2012-13

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyappeal In Ita No Appellant Respondent A.Y 1429/Hyd/2014 Acit Circle M/S. Suresh 2003-04 13(1) Hyderabad Productions Hyderabad Co 78/Hyd/2014 M/S. Suresh Acit Circle 13(1) 2003-04 (Ita Productions Hyderabad 1429/H/2014) Hyderabad 2102/Hyd/2018 -Do- Addl.Cit, Range 13(Old) 2010-11 Range-14 (Present) Hyderabad 2103/Hyd/2018 -Do- Dy.Cit, Circle 14(1) 2012-13 Hyderabad 2104/Hyd/2018 -Do- -Do- 2013-14 2105/Hyd/2018 -Do- -Do- 2014-15 Assessee By: Shri K.C. Devdas, Ca Revenue By: Shri Shakeer Ahmed, Dr

For Appellant: Shri K.C. Devdas, CAFor Respondent: Shri Shakeer Ahmed, DR
Section 143(3)Section 148

…ce is caused to the Department as the entire sum of Rs.1,50,00,000/- has been taxed on deferral basis over a period of time. For the above proposition, the learned Counsel for the assessee relied upon the following decisions: i) CIT vs. Nagari Mills Co. Ltd (33 ITR 681) (Bombay) ii) Berger Paints India Ltd (266 ITR 99) (pages 103-104) (S.C) iii) PCIT v. Rajesh Prakash Timblo (2019 (415 ITR 334) (Bombay) iv) CIT vs. Excel Producer Ltd (358 ITR 295).(S.C) 21. The learned DR in his rejoinder submitted that the question of issue of notice u/s 143(2) does not arise since the assessee failed to submit the return of i…

Suresh Productions, Hyderabad vs. Addl. Commissioner of Income Tax, Range-13(Old), Range-14(Present), Hyderabad

In the result, the appeal filed by the Revenue as well as all the appeals and C

ITA 2102/HYD/2018[2010-11]Status: DisposedITAT Hyderabad11 Oct 2023AY 2010-11

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyappeal In Ita No Appellant Respondent A.Y 1429/Hyd/2014 Acit Circle M/S. Suresh 2003-04 13(1) Hyderabad Productions Hyderabad Co 78/Hyd/2014 M/S. Suresh Acit Circle 13(1) 2003-04 (Ita Productions Hyderabad 1429/H/2014) Hyderabad 2102/Hyd/2018 -Do- Addl.Cit, Range 13(Old) 2010-11 Range-14 (Present) Hyderabad 2103/Hyd/2018 -Do- Dy.Cit, Circle 14(1) 2012-13 Hyderabad 2104/Hyd/2018 -Do- -Do- 2013-14 2105/Hyd/2018 -Do- -Do- 2014-15 Assessee By: Shri K.C. Devdas, Ca Revenue By: Shri Shakeer Ahmed, Dr

For Appellant: Shri K.C. Devdas, CAFor Respondent: Shri Shakeer Ahmed, DR
Section 143(3)Section 148

…ce is caused to the Department as the entire sum of Rs.1,50,00,000/- has been taxed on deferral basis over a period of time. For the above proposition, the learned Counsel for the assessee relied upon the following decisions: i) CIT vs. Nagari Mills Co. Ltd (33 ITR 681) (Bombay) ii) Berger Paints India Ltd (266 ITR 99) (pages 103-104) (S.C) iii) PCIT v. Rajesh Prakash Timblo (2019 (415 ITR 334) (Bombay) iv) CIT vs. Excel Producer Ltd (358 ITR 295).(S.C) 21. The learned DR in his rejoinder submitted that the question of issue of notice u/s 143(2) does not arise since the assessee failed to submit the return of i…

ACIT, Circle-13(1), Hyderabad vs. M/S Suresh Productions, Hyderabad

In the result, the appeal filed by the Revenue as well as all the appeals and C

ITA 1429/HYD/2014[2003-04]Status: DisposedITAT Hyderabad11 Oct 2023AY 2003-04

Bench: Shri R.K. Panda, Vice- & Shri K. Narasimha Charyappeal In Ita No Appellant Respondent A.Y 1429/Hyd/2014 Acit Circle M/S. Suresh 2003-04 13(1) Hyderabad Productions Hyderabad Co 78/Hyd/2014 M/S. Suresh Acit Circle 13(1) 2003-04 (Ita Productions Hyderabad 1429/H/2014) Hyderabad 2102/Hyd/2018 -Do- Addl.Cit, Range 13(Old) 2010-11 Range-14 (Present) Hyderabad 2103/Hyd/2018 -Do- Dy.Cit, Circle 14(1) 2012-13 Hyderabad 2104/Hyd/2018 -Do- -Do- 2013-14 2105/Hyd/2018 -Do- -Do- 2014-15 Assessee By: Shri K.C. Devdas, Ca Revenue By: Shri Shakeer Ahmed, Dr

For Appellant: Shri K.C. Devdas, CAFor Respondent: Shri Shakeer Ahmed, DR
Section 143(3)Section 148

…ce is caused to the Department as the entire sum of Rs.1,50,00,000/- has been taxed on deferral basis over a period of time. For the above proposition, the learned Counsel for the assessee relied upon the following decisions: i) CIT vs. Nagari Mills Co. Ltd (33 ITR 681) (Bombay) ii) Berger Paints India Ltd (266 ITR 99) (pages 103-104) (S.C) iii) PCIT v. Rajesh Prakash Timblo (2019 (415 ITR 334) (Bombay) iv) CIT vs. Excel Producer Ltd (358 ITR 295).(S.C) 21. The learned DR in his rejoinder submitted that the question of issue of notice u/s 143(2) does not arise since the assessee failed to submit the return of i…

DCIT Corporate Circle 1(2), Chennai vs. Consolidated Construction Consortium Ltd., Chennai

In the result, the appeals filed by the Revenue in ITA Nos

ITA 845/CHNY/2019[2010-11]Status: DisposedITAT Chennai30 Aug 2023AY 2010-11

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri T. Vasanthan, CIT
Section 143(3)

…sed at uniform rate of tax, the entire exercise of seeking to disturb the year of allowability of expenditure is, in any case, revenue neutral. We are reminded of the classic observation made by the Bombay High Court in the case of CIT vs Nagri Mills Co. Ltd, 33 ITR 681 which reads as under: “ We have often wondered why the income-tax authorities, in a matter such as this where the deduction is obviously a permissible deduction under the Income-tax Act, raise disputes as to the year in which the deduction should be allowed. The question as to the year in which a deduction is allowable may be material when the ra…

M/S Consolidated Construction Consortium Ltd, Chennai vs. DCIT Corporate Circle 1 (2), Chennai

In the result, the appeals filed by the Revenue in ITA Nos

ITA 399/CHNY/2019[2010-11]Status: DisposedITAT Chennai30 Aug 2023AY 2010-11

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri T. Vasanthan, CIT
Section 143(3)

…sed at uniform rate of tax, the entire exercise of seeking to disturb the year of allowability of expenditure is, in any case, revenue neutral. We are reminded of the classic observation made by the Bombay High Court in the case of CIT vs Nagri Mills Co. Ltd, 33 ITR 681 which reads as under: “ We have often wondered why the income-tax authorities, in a matter such as this where the deduction is obviously a permissible deduction under the Income-tax Act, raise disputes as to the year in which the deduction should be allowed. The question as to the year in which a deduction is allowable may be material when the ra…

DCIT, New Delhi vs. M/S. Sahara India Power Corporation Ltd., Pune

In the result, the appeal filed by the revenue for the AY 2005-06 in I

ITA 5067/DEL/2013[2005-06]Status: PendingITAT Delhi28 Apr 2023AY 2005-06

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar Us

For Appellant: Shri Ajay VohraFor Respondent: Shri Kanv Bali

…year or different years, since such issues are revenue neutral and do not affect the tax liability of the assessee likely to be collected by the Revenue as a whole: • CIT vs Glaxo Smithkline Asia (P) Ltd: 195 Taxman 35 (SC) • CIT vs Nagri Mills Company Ltd: 33 ITR 681 (Born) • Shri Ram Pistons & Rings Ltd: 220 CTR 404 (Del) • CIT vs Triveni Engineering Industries Ltd: 239 CTR 216 (Del) 40. For the reasons stated above, the ld. A.R. submitted that the addition made by the assessing officer and sustained by the ld. CIT(A) deserves to be deleted. Re: Ground No. 4 to 6 41. The ld. A.R. submitted that the Assessee…