CIT v. Nalwa Sons Investments Ltd.

327 ITR 543High Court2010#1058 most cited

What is CIT v. Nalwa Sons Investments Ltd. authority for?

When tax is levied under Section 115JB on book profits, no penalty under Section 271(1)(c) for concealment or furnishing inaccurate particulars can be imposed based on additions or disallowances made in the regular computation of income. The regular computation is only for comparative purposes when the final tax liability is based on book profits.

104

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2011 to 2026.

Also referred to as

CIT v. Nalwa Sons Investments Ltd. · Section 115JB · Section 271(1)(c) · penalty · book profits · MAT · concealment of income · furnishing inaccurate particulars · additions regular assessment · tax on book profits · levy of penalty

Also reported as

194 Taxmann 387

Sections most often in play

Section 115JBSection 271(1)(c)Section 143(3)Section 143(1)Section 143(1A)Section 35ADSection 153ASection 234B
Read the full judgment

Issues it is cited on

book profitssection 115jpenalty under section 271(1)(c)furnishing inaccurate particulars of incomesection 115jbpenalty u/s 271(1)(c)furnishing inaccurate particularsconcealment of incomesection 115section 271(1)levy of penaltysection 271(1)(c)

Judgments citing CIT v. Nalwa Sons Investments Ltd.

AGMOTEX FABRICS LTD.,KANPUR vs. DY. COMMISSIONER OF INCOME TAX, RANGE-6, KANPUR

In the result, the appeal of the assessee is allowed

ITA 803/LKW/2024[2005-06]Status: DisposedITAT Lucknow15 Apr 2026AY 2005-06

Bench: Shri Kul Bharat & Shri Nikhil Choudharyassessment Year: 2005-06 Agmotex Fabrics Ltd V. The Dy. Commissioner 3/239 Vishnupuri, Kanpur- Of Income Tax, Range-6 208002. Aayakar Bhawan, 16/69, Civil Lines, Kanpur- 208001. Pan:Aabca6099H (Appellant) (Respondent) Appellant By: Shri Rakesh Garg, Advocate Respondent By: Shri R. R. N. Shukla, Addl. Cit (Dr) Date Of Hearing: 23 02 2026 Date Of Pronouncement: 15 04 2026 O R D E R

For Appellant: Shri Rakesh Garg, AdvocateFor Respondent: Shri R. R. N. Shukla, Addl. CIT (DR)
Section 115JSection 143(1)Section 271(1)(c)

…ch in the case of ITO vs. Software Page 3 of 6 Element India Pvt. Ltd. in ITA No. 551/Mum/2012, vide order dated 24.01.2013. Further, reliance has been placed on the judgment of the Hon’ble Delhi High Court in the case of CIT vs. Nalwa Sons Investments Ltd. [327 ITR 543 (Del); (2010) 194 Taxman 387 (Del); (2010) 235 CTR 209 (Del)]. 4. On the other hand, the Ld. Departmental Representative (DR) opposed the submissions and supported the orders of the lower authorities. 5. We have heard the rival contention and perused the material available on records. There is no dispute with regard to the fact that the income…

DEPUTY COMMISSIONER OF INCOME TAX, VADODARA vs. GUJARAT STATE ELECTRICITY CORPORATION LIMITED, VADODARA

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

ITA 1289/AHD/2024[2011-12]Status: DisposedITAT Ahmedabad07 Mar 2025AY 2011-12

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 115JSection 271Section 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Smt. Annapurna Gupta, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member Assessment Year. 2011-12 Deputy Gujarat State Electricity Commissioner of Corporation Ltd., Income Tax, Vs Sardar Patel Vidyut Circle-1(1)(1), Bhavan, Race Course, Vadodara Circle Alkapuri, Baroda, Gujarat-390007 (Appellant) PAN: AAACG6864F (Respondent) Revenue Represented: Shri Prathvi Raj Meena, CIT-DR Assessee Represented: Shri M.J. Shah, Advocate Date of hearing : 08-01-2025 Date of pronouncement : 07-03-2025 आदेश/ORDER PER : T.R. SENTHIL KUMAR, JUDIC…

NATIONAL COMMODITIES MANAGEMENT SERVICES LIMITED (FORMERLY KNOWN AS NATIONAL COLLATERAL MANAGEMENT SERVICES LIMITED),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX RANG -7(1)(1), MUMBAI

In the result, appeals are allowed for statistical purposes

ITA 3225/MUM/2024[2015-16]Status: DisposedITAT Mumbai12 Feb 2025AY 2015-16

Bench: Shri Saktijit Dey, Vp & Shri B.R. Baskaran, Am

For Appellant: Shri Bhupendra Karkhanis, And Shri Jay DharodFor Respondent: Shri Kailash C. Kanojiya, CIT(DR)
Section 115JSection 143(3)Section 271(1)(c)Section 35A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, VP AND SHRI B.R. BASKARAN, AM ITA No. 3225 & 1340/Mum/2024 (Assessment Years: 2015-16 & 2020-21) National Commodities Management DCIT-7(1)(1), Services Ltd. Mumbai (Formerly Known as National Vs. Collateral Management Services Ltd. D-164, TTC Industrial Area, Nerul MIDC, Navi Mumbai (Appellant) : (Respondent) DCIT-7(1)(1), National Commodities Management Mumbai Services Ltd. (Formerly Known as National Vs. Collateral Management Services Ltd. D-164, TTC Industrial Area, Nerul MIDC, Navi Mumbai Appellant by : Shri Bhupendra Karkhanis,…

DY.CIT, CIRCLE-7(1)(1), MUMBAI, INCOMETAX DEPARTMENT, MUMBAI vs. NATIONAL COMMODITIES MANAGEMENT SERVICES LIMITED , MUMBAI

In the result, appeals are allowed for statistical purposes

ITA 2635/MUM/2024[2020-21]Status: DisposedITAT Mumbai12 Feb 2025AY 2020-21

Bench: Shri Saktijit Dey, Vp & Shri B.R. Baskaran, Am

For Appellant: Shri Bhupendra Karkhanis, And Shri Jay DharodFor Respondent: Shri Kailash C. Kanojiya, CIT(DR)
Section 115JSection 143(3)Section 271(1)(c)Section 35A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, VP AND SHRI B.R. BASKARAN, AM ITA No. 3225 & 1340/Mum/2024 (Assessment Years: 2015-16 & 2020-21) National Commodities Management DCIT-7(1)(1), Services Ltd. Mumbai (Formerly Known as National Vs. Collateral Management Services Ltd. D-164, TTC Industrial Area, Nerul MIDC, Navi Mumbai (Appellant) : (Respondent) DCIT-7(1)(1), National Commodities Management Mumbai Services Ltd. (Formerly Known as National Vs. Collateral Management Services Ltd. D-164, TTC Industrial Area, Nerul MIDC, Navi Mumbai Appellant by : Shri Bhupendra Karkhanis,…

NATIONAL COMMODITIES MANAGEMENT SERVICES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX-7(1)(1), MUMBAI

In the result, appeals are allowed for statistical purposes

ITA 1340/MUM/2024[2020-21]Status: DisposedITAT Mumbai12 Feb 2025AY 2020-21

Bench: Shri Saktijit Dey, Vp & Shri B.R. Baskaran, Am

For Appellant: Shri Bhupendra Karkhanis, And Shri Jay DharodFor Respondent: Shri Kailash C. Kanojiya, CIT(DR)
Section 115JSection 143(3)Section 271(1)(c)Section 35A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, VP AND SHRI B.R. BASKARAN, AM ITA No. 3225 & 1340/Mum/2024 (Assessment Years: 2015-16 & 2020-21) National Commodities Management DCIT-7(1)(1), Services Ltd. Mumbai (Formerly Known as National Vs. Collateral Management Services Ltd. D-164, TTC Industrial Area, Nerul MIDC, Navi Mumbai (Appellant) : (Respondent) DCIT-7(1)(1), National Commodities Management Mumbai Services Ltd. (Formerly Known as National Vs. Collateral Management Services Ltd. D-164, TTC Industrial Area, Nerul MIDC, Navi Mumbai Appellant by : Shri Bhupendra Karkhanis,…

SMS CONCAST AG,DELHI vs. ACIT CIRCLE-3(1)(2) INTERNATIONAL TAXATION, DELHI

In the result, the appeal of the assessee is allowed

ITA 1444/DEL/2022[2017-18]Status: DisposedITAT Delhi06 Jan 2025AY 2017-18

Bench: Shri Ramit Kochar & Shri Sudhir Kumar

For Appellant: Sh. Rohit Jain, AdvocateFor Respondent: Sh. Abhishek Deval, Sr. DR
Section 271(1)Section 271(1)(c)Section 80Section 80GSection 80HSection 80I

…ITR 739 (SC) 5. Supreme Court in the case of CIT v. Reliance Petroproducts Pvt. Ltd.: 322 ITR 158 6. Delhi High Court in the case of CIT vs. International Audio- Visual Co: 288 ITR 570 7. Delhi High Court in the case of CIT vs. Nalwa Sons Investments Ltd: 327 ITR 543 8. Delhi High Court in the case of CIT vs. Dharampal Premchand Ltd: 329 ITR 572 9. Punjab & Haryana High Court in the case of CIT vs. Deep Tools (P) Ltd: 274 ITR 603 10. Delhi High Court in the case of CIT vs. S. Dhanabal: 309 ITR 268 11. Punjab & Haryana High Court in the case of CIT vs. Sidhartha Enterprises: 322 ITR 80 12. Delhi High Cour…

JINDAL PADDING PRIVATE LIMITED,VILLAGE MANNPURA, TEHSIL NALAG vs. INCOME TAX OFFICER PARWANO, PARWANO

ITA 100/CHANDI/2024[2010-11]Status: DisposedITAT Chandigarh23 Dec 2024AY 2010-11

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

For Appellant: Shri Ashok Goyal, CAFor Respondent: Shri Vivek Vardhan, JCIT, Sr.DR
Section 115JSection 143(3)Section 246ASection 250Section 253Section 271Section 271(1)(c)Section 274Section 68

…d : 5. The issue relating to levy of penalty under Section 271(l)(c) of the Act where tax was paid on the basis of book profits determined under Section 115JB of the Act was considered by the Delhi High Court in CIT vs. Nalwa Sons Investments Limited, (2010) 327 ITR 543. It was held that where the book profits were determined under section 115JB of the Act any amount of expenses claimed would not render the assessee liable to penalty under section 271(1) (c) of the Act on account of false claim of expenses. The relevant observations of the Delhi High Court read thus:- "The question, however, in the present case,…

DCIT (LTU), NEW DELHI vs. M/S. MAWANA SUGAR LTD., NEW DELHI

In the result, the appeal filed by the assessee being ITA

ITA 3498/DEL/2013[2001-02]Status: DisposedITAT Delhi30 Aug 2024AY 2001-02

Bench: him in the Memorandum of Appeal. 4.1 That on facts and in law the AO erred in ado tin the figure of Taxable Capital Gains at Rs.6,98,80,603/- instead of Rs.6,90,79,603/-.

For Appellant: Shri Tarandeep Singh, AdvocateFor Respondent: Shri Subhra Jyoti Chakraborty, CIT DR
Section 43B

…t was assessed at loss in the regular scheme of computation and the tax liability was additions made to the returned income under the regular scheme of computation. The Hon'ble Jurisdictional High Court in the case of CIT v. Nalwa Sons Investments Ltd. [2010] 327 ITR 543 (Delhi) has held that where tax is levied under section 115JB on book profits, there could be no concealment inferable with reference to the additions in computation of regular income. Such computation of statutory income is made only for comparison of tax on such income with tax on book profits. In coming to the conclusion, the High Court referr…

MAWANA SUGARS LIMITED.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal filed by the assessee being ITA

ITA 4519/DEL/2009[2001-02]Status: DisposedITAT Delhi30 Aug 2024AY 2001-02

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

For Appellant: Shri Tarandeep Singh, AdvocateFor Respondent: Shri Subhra Jyoti Chakraborty, CIT DR
Section 43B

…t was assessed at loss in the regular scheme of computation and the tax liability was additions made to the returned income under the regular scheme of computation. The Hon'ble Jurisdictional High Court in the case of CIT v. Nalwa Sons Investments Ltd. [2010] 327 ITR 543 (Delhi) has held that where tax is levied under section 115JB on book profits, there could be no concealment inferable with reference to the additions in computation of regular income. Such computation of statutory income is made only for comparison of tax on such income with tax on book profits. In coming to the conclusion, the High Court referr…

ASST. COMMISSIONER OF INCOME TAX, CIRCLE-3(4), MUMBAI, MUMBAI vs. RELIANCE INDUSTRIES LIMITED, MUMBAI

ITA 1875/MUM/2024[2013-14]Status: DisposedITAT Mumbai10 Jul 2024AY 2013-14

Bench: Shri Satbeer Singh Godara & Shri Girish Agrawal

For Appellant: Shri Nimesh VoraFor Respondent: Smt. Sanyogita Nagpal, CIT-DR
Section 115JSection 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “D” BENCH : MUMBAI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA.Nos.1875 & 1872/Mum./2024 AND Cross Objection Nos.88 & 89/Mum./2024 Assessment Years 2013-2014 & 2014-2015 Reliance Industries Limited, The ACIT, Circle-3(4), Reliance Corporate Park, Room No.559, 5th Floor, vs. Thane Belapur Road, Aaykar Bhvan, M.K. Road, Ghansoli, Navi Mumbai. Mumbai – 400 020. PIN – 400 701. Maharashtra PAN AAACR5055K (Respondent/Cross-Objector in C.Os) (Appellant/Respondent in C.O.) For Revenue : Smt. Sanyogita Nagpal, CIT-DR For Asses…

M/S. PATANJALI FOODS LTD (FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD),MUMBAI vs. DY COMM OF INCOME TAX- CENTRAL CIRCLE-7(2), MUMBAI

In the result, the appeal and cross objections of the assessee are partly allowed and the appeals of the revenue are dismissed

ITA 320/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13)

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S RIFAUR RAHMAN, AM आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) DCIT, Central Circle-7(2) बिधम/ M/s. Patanjali Foods Ltd Room No. 637, 6th Floor, (Formerly known as Vs. Aayakar Bhavan, M. K. Ruchi Soya Industries Road, Mumbai-400020. Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross objection No.51/…

DCIT, CC-7(2), MUMBAI vs. M/S. PATANJALI FOODS LTD.,( FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD,, MUMBAI

In the result, the appeal and cross objections of the assessee are

ITA 1176/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/S. Patanjali Foods Ltd Vs. (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross Objection No.51/Mum/2023 (Arising Out Of I.T. A. No. 1172/Mum/2023) (निर्धारण वर्ष / Assessment Year: 2010-11) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. बनाम / Dcit, Central Circle-7(2) Vs. Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. & आयकर अपील सं/ I.T. A. No. 320/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) बनाम / Vs. Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaci1220M 2

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S RIFAUR RAHMAN, AM आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) DCIT, Central Circle-7(2) Room No. 637, 6th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/s. Patanjali Foods Ltd Vs. (Formerly known as Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross objection No.51/…

DCIT, CC-7(2), MUMBAI vs. M/S. PATANJALI FOODS LTD.,( FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD,, MUMBAI

In the result, the appeal and cross objections of the assessee are partly allowed and the appeals of the revenue are dismissed

ITA 1172/MUM/2023[2010-11]Status: DisposedITAT Mumbai05 Apr 2024AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13)

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S RIFAUR RAHMAN, AM आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) DCIT, Central Circle-7(2) बिधम/ M/s. Patanjali Foods Ltd Room No. 637, 6th Floor, (Formerly known as Vs. Aayakar Bhavan, M. K. Ruchi Soya Industries Road, Mumbai-400020. Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross objection No.51/…

SUNBORNE ENERGY SERVICES INDIA PRIVATE LIMITED,NOIDA vs. DCIT CIRCLE-24(2), NEW DELHI

In the result, appeal is allowed

ITA 9508/DEL/2019[2012-13]Status: DisposedITAT Delhi07 Dec 2023AY 2012-13

Bench: Shri Saktijit Dey, Vice- & Shri M. Balaganeshassessment Year: 2012-13 Sunborne Energy Services India Versus Dcit, Circle 24(2), Pvt. Ltd., Unit-816, 8Th Floor, New Delhi. Asotech Business Cresterra, Tower-1, Sec. 135, Noida. Pan: Aancs0054N (Appellant) (Respondent) Assessee By : Sh. Divesh Kalra, Advocate Revenue By : Sh. Anuj Garg, Sr. Dr Date Of Hearing : 28.11.2023 Date Of Pronouncement: 07.12.2023 Order Per Saktijit Dey, Vice-

For Appellant: Sh. Divesh Kalra, AdvocateFor Respondent: Sh. Anuj Garg, Sr. DR
Section 115JSection 135Section 271Section 271(1)Section 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI BEFORE SHRI SAKTIJIT DEY, VICE-PRESIDENT AND SHRI M. BALAGANESH, ACCOUNTANT MEMBER Assessment Year: 2012-13 Sunborne Energy Services India Versus DCIT, Circle 24(2), Pvt. Ltd., Unit-816, 8th Floor, New Delhi. Asotech Business Cresterra, Tower-1, Sec. 135, Noida. PAN: AANCS0054N (Appellant) (Respondent) Assessee by : Sh. Divesh Kalra, Advocate Revenue by : Sh. Anuj Garg, Sr. DR Date of hearing : 28.11.2023 Date of pronouncement: 07.12.2023 ORDER PER SAKTIJIT DEY, VICE-PRESIDENT This is an appeal by the assessee against order dated 21.10.2019 of lear…

DCIT CENTRAL CIRCLE-29, NEW DELHI vs. DHARAMPAL SATYAPAL LTD, NEW DELHI

In the result, appeals of the Revenue, are dismissed

ITA 162/DEL/2021[2010-11]Status: DisposedITAT Delhi18 May 2023AY 2010-11

Bench: Shri Challa Nagendra Prasada N D Shri M. Balaganesh

For Appellant: Shri Satyajit GoelFor Respondent: [CIT] – D. R
Section 144Section 144C(4)Section 271(1)(c)

…equential order giving effect to the order of the Tribunal, penalty provisions under section 271(1)(c) of the Act are not attracted. Reliance was placed on the decision of the Hon’ble Delhi High Court in the case of CIT Vs. Nalwa Sons Investments Ltd. [(2010) 327 ITR 543 (Del)]. Reliance was also placed on the decision of the Delhi Bench of the Tribunal in the case I.T.A. Nos. 162 & 161/Del/2021 of M/s. Samin Tekmindz India Pvt. Ltd. Vs. ACIT in ITA. No. 2282/Del/2019 dated 5.08.2019. Ld. Counsel submits that the issue of as to whether when the income of the assessee has been assessed under MAT provisions can t…

DCIT CENTRAL CIRCLE-29, NEW DELHI vs. DHARAMPAL SATYAPAL LTD, NEW DELHI

In the result, appeals of the Revenue, are dismissed

ITA 161/DEL/2021[2011-12]Status: DisposedITAT Delhi18 May 2023AY 2011-12

Bench: Shri Challa Nagendra Prasada N D Shri M. Balaganesh

For Appellant: Shri Satyajit GoelFor Respondent: [CIT] – D. R
Section 144Section 144C(4)Section 271(1)(c)

…equential order giving effect to the order of the Tribunal, penalty provisions under section 271(1)(c) of the Act are not attracted. Reliance was placed on the decision of the Hon’ble Delhi High Court in the case of CIT Vs. Nalwa Sons Investments Ltd. [(2010) 327 ITR 543 (Del)]. Reliance was also placed on the decision of the Delhi Bench of the Tribunal in the case I.T.A. Nos. 162 & 161/Del/2021 of M/s. Samin Tekmindz India Pvt. Ltd. Vs. ACIT in ITA. No. 2282/Del/2019 dated 5.08.2019. Ld. Counsel submits that the issue of as to whether when the income of the assessee has been assessed under MAT provisions can t…

M/S. ATUL LIMITED,AHMEDABAD vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, AHMEDABAD

The appeal of the assessee is allowed in above terms

ITA 769/AHD/2019[1999-2000]Status: DisposedITAT Ahmedabad16 Dec 2022AY 1999-2000
For Appellant: Shri Bandish Soparkar, AR &For Respondent: Shri Atul Pandey, Sr DR
Section 112(2)Section 143(3)Section 271(1)(c)Section 80GSection 80H

…here is a clear case of misrepresentation in tax and therefore, the penalty u/s 271(1)(c) of the act was rightly imposed as held by Hon'ble 7 M/s. Atul Limited Vs. DCIT AY :1999-2000 Delhi High Court rendered in the case of CIT Vs Nalwa Sons Investments Ltd. 327 ITR 543 (Del.). He referred to the relevant portion of the penalty order in support of the case of the revenue. He relied on the order of the A.O. 14. Ld. Counsel for the assessee submitted that at the time when the assessee made the claim for deduction u/s 80-IB of the Act, the decision of Hon'ble Jurisdictional High Court rendered in the case of CIT V…

JUBILANT INFRASTRUCTURE LTD,,NOIDA vs. DCIT,CC-1, NOIDA

In the result, the appeal of the assessee is allowed

ITA 1682/DEL/2021[2016-17]Status: DisposedITAT Delhi12 Sept 2022AY 2016-17

Bench: Shri Pradip Kumar Kedia & Shri Anubhav Sharma

For Appellant: Sh. Gaurav Jain, AdvocateFor Respondent: 12.09.2022
Section 115JSection 271Section 80

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C” NEW DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER आयकर अपील सं./I.T.A. No.1682/Del/2021 ("नधा"रण वष" / Assessment Year : 2016-17) Jubilant Infrastructure Ltd. DCIT बनाम/ Plot No.1A, Sector-16 A, Circle -1 Vs. Noida Noida "थायी लेखा सं./जीआइआर सं./PAN/GIR No. AABCJ6899C .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Ms. Shweta Bansal, CA अपीलाथ" ओर से /Appellant by : Sh. Gaurav Jain, Advocate Sh. Anul Jain, CIT DR ""यथ" क" ओर से / Respondent by : 12.09.2022 सुनवाई क" तार"ख / Date of Hearing 12.09.2022 घोष…

ACIT CIRCLE-16 (1), MUMBAI vs. M/S ASIANET NEWS NETWORK PVT LTD., MUMBAI

ITA 6062/MUM/2019[2015-16]Status: DisposedITAT Mumbai25 Aug 2022AY 2015-16

Bench: Shri Kuldip Singh & Shri Om Prakash Kantassessment Year: 2015-16

For Appellant: Ms. Sheetal Borkar, A.RFor Respondent: Shri Manoj Sinha, D.R
Section 115JSection 143(3)Section 271Section 271(1)(C)Section 271(1)(c)

…he facts, in the circumstances of the case and as per law, the Ld.CIT(A) has erred in directing to delete the penalty levied u/s.271(l)(c) by wrongly relying on the judgement rendered by the Hon'ble High Court of Delhi in the case of Nalwa Sons Investment Ltd 327 ITR 543 (Delhi). iii) Whether on the facts, in the circumstances of the case and as per law, the Ld.CIT(A) has erred in directing to delete the penalty levied u/s.271(l)(c) failing to appreciate that the case of assessee does not fall under the category specified in Circular No.25 of 2015 dated 31.12.2015 issued by the Central Board of Direct Taxes, Mini…

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2(1), JABALPUR vs. MADHYA PRADESH POWER GENERATING CO. LTD., JABALPUR

In the result, the Revenue's appeal is dismissed as not maintainable

ITA 251/JAB/2018[2008-09]Status: DisposedITAT Jabalpur23 Feb 2022AY 2008-09

Bench: Shri Sanjay Arora, Hon’Ble & Shri Manomohan Das, Hon'Ble

For Appellant: Shri Rahul Bardia, CAFor Respondent: Shri S.K. Halder, DR
Section 115Section 143(3)Section 147Section 154Section 271(1)(c)

…med as income under the MAT provisions. The reassessment dated 21/3/2016, thus, had no tax impact inasmuch as the tax payable was only consequent to the deemed total income u/s. 115-JB. No penalty, even as explained in CIT v. Nalwa Sons Investment Ltd. [2010] 327 ITR 543 (Del), is leviable u/s. 271(1)(c) under such circumstances. Special Leave Petition (SLP) against the said decision has been dismissed (in SLP (C) No.18564 of 2011, dated 04.5.2012), so that the same has attained finality. Further-more, the Revenue, accepting the legal position, has issued a Circular (No. 25/2015, dated 3.12.2015/copy on record),…

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