CIT v. Natural Gems Ltd.

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

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)

…ble Supreme Court in the case of Kwality Biscuits Ltd. (supra) as well as a number of other decisions including the decisions of the hon'ble jurisdictional High Court in the case of Snowcem India Ltd. (supra) and in the case of CIT v. Natural Gems Ltd. [2010] 327 ITR 269 (Bom) wherein it has been held that no advance minimum alternate tax was payable by the company. Therefore, the assessee had no reason to believe or foresee a subsequent decision fastening the liability of payment of advance tax. Even otherwise the decision in the case of Rolta India Ltd. (supra) is a subsequent decision and therefore, the imposs…

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

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

…ble Supreme Court in the case of Kwality Biscuits Ltd. (supra) as well as a number of other decisions including the decisions of the hon'ble jurisdictional High Court in the case of Snowcem India Ltd. (supra) and in the case of CIT v. Natural Gems Ltd. [2010] 327 ITR 269 (Bom) wherein it has been held that no advance minimum alternate tax was payable by the company. Therefore, the assessee had no reason to believe or foresee a subsequent decision fastening the liability of payment of advance tax. Even otherwise the decision in the case of Rolta India Ltd. (supra) is a subsequent decision and therefore, the imposs…

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

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

…ble Supreme Court in the case of Kwality Biscuits Ltd. (supra) as well as a number of other decisions including the decisions of the hon'ble jurisdictional High Court in the case of Snowcem India Ltd. (supra) and in the case of CIT v. Natural Gems Ltd. [2010] 327 ITR 269 (Bom) wherein it has been held that no advance minimum alternate tax was payable by the company. Therefore, the assessee had no reason to believe or foresee a subsequent decision fastening the liability of payment of advance tax. Even otherwise the decision in the case of Rolta India Ltd. (supra) is a subsequent decision and therefore, the imposs…

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

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)

…ble Supreme Court in the case of Kwality Biscuits Ltd. (supra) as well as a number of other decisions including the decisions of the hon'ble jurisdictional High Court in the case of Snowcem India Ltd. (supra) and in the case of CIT v. Natural Gems Ltd. [2010] 327 ITR 269 (Bom) wherein it has been held that no advance minimum alternate tax was payable by the company. Therefore, the assessee had no reason to believe or foresee a subsequent decision fastening the liability of payment of advance tax. Even otherwise the decision in the case of Rolta India Ltd. (supra) is a subsequent decision and therefore, the imposs…

M/S. FDC LIMITED,MUMBAI vs. ADDLL. CIT- 8 (1), MUMBAI

Appeal stand dismissed

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) 1. आयकरअपील िं./ I.T.A. No.6901/Mum/2018 (धििाारण वर्ा / Assessment Year: 2010-11) & 2. आयकरअपील िं./ I.T.A. No.6840/Mum/2018 (धििाारण वर्ा / Assessment Year: 2011-12) M/S Fdc Limited Acit Circle– 8(1) बिाम/ 142-48, S. V. Road {Now Acit Circle 9(3)(1)} Jogeshwari (West) R. No. 215, Aayakar Bhavan Vs. Mumbai – 400 102 Mumbai-400 020 स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No. Aaacf-0253-H (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : & 3. आयकरअपील िं./ I.T.A. No.7016/Mum/2018 (धििाारण वर्ा / Assessment Year: 2010-11) Acit Circle– 8(1) M/S Fdc Limited बिाम/ {Now Acit Circle 9(3)(1)} 142-48, S. V. Road R. No. 215, Aayakar Bhavan Jogeshwari (West) Vs. Mumbai-400 020 Mumbai – 400 102 स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No. Aaacf-0253-H (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Assessee By : Shri S. S. Nagar, Ld. Ar Revenue By : Shri Sunil Deshpande, Ld. Cit-Dr ुनवाई की तारीख/ : 20/07/2021 Date Of Hearing घोषणा की तारीख / : 08/10/2021 Date Of Pronouncement

…in such a case as per the decision of Hon’ble Supreme Court in CIT V/s Kwality Biscuits Ltd. (284 ITR 434; 26/04/2006) as well as the decisions of Hon’ble Bombay High Court in Snowcem India Ltd V/s DCIT (313 ITR 170; 05/01/2009) and CIT V/s Natural Gems Ltd (327 ITR 269; 24/03/2009) which were holding the field at that point of time. However, in the subsequent 43 M/s FDC Limited Assessment Years: 2010-11 & 2011-12 decision, Hon’ble Supreme Court in JCIT V/s Rolta India Limited (330 ITR 470; 07/01/2011) has held that interest is leviable even if the tax was paid under MAT provisions. Post this judgment, Hon’ble…

ACIT 2(1), MUMBAI vs. TATA MOTORS LTD, MUMBAI

In the result, both appeals of the assessee as well as Revenue are allowed for the statistical purposes in the light of directions contained hereinabove

Bench: Shri M.Balaganesh, Am & Shri Amarjit Singh, Jm M/S Tata Motors Vs. Acit, Cir-2(1), Mumbai-20 Limited(Formerly Known As Tata Engineering & Locomotive Company Ltd), Bombay House, 24, Homi Mody Street, Hutatma Chowk, Mumbai-400001 Pan/Gir No.Aaact 2727 Q (Appellant) .. (Respondent) & Acit, 2(1), Mumbai-20 Vs. M/S Tata Motors Limited(Formerly Known As Tata Engineering & Locomotive Company Ltd), Bombay House, 24, Homi Mody Street, Hutatma Chowk, Mumbai- 400001 Pan/Gir No.Aaact 2727 Q (Appellant) .. (Respondent) Assessee By Shri J.D.Mistri & Nikhil Tiwari, Ar Revenue By Shri R.Manjunatha Swamy, Citdr Date Of Hearing 01/05/2019 Date Of Pronouncement 03/05/2019

…at that point of time, wherein it has been held that no interest under section 234B or 234C is leviable if tax is determined under section 115JB of the Act:- • Kwality Biscuits Ltd (284 ITR 434) (SC) • Snowcem India Ltd (313 ITR 170) (Bom) • Natural Gems Ltd (327 ITR 269) (Bom) Subsequently the Hon'ble Supreme Court in case of Rolta India Ltd (330 ITR 470) (SC) dated 7 January 2011, contrary to the above decisions, has held that interest is leviable even if income tax is payable under MAT provisions. The Hon'ble Tribunal in following cases held that in the assessment made by AO (prior to decision of Supreme Court…

TATA MOTERS LIMITED (FORMERLY KNOWN AS TATA ENGINEERING & LOCOMOTIVE COMPANY LTD.),MUMBAI vs. A CIT, CIR..-2(1), MUMBAI

In the result, both appeals of the assessee as well as Revenue are allowed for the statistical purposes in the light of directions contained hereinabove

Bench: Shri M.Balaganesh, Am & Shri Amarjit Singh, Jm M/S Tata Motors Vs. Acit, Cir-2(1), Mumbai-20 Limited(Formerly Known As Tata Engineering & Locomotive Company Ltd), Bombay House, 24, Homi Mody Street, Hutatma Chowk, Mumbai-400001 Pan/Gir No.Aaact 2727 Q (Appellant) .. (Respondent) & Acit, 2(1), Mumbai-20 Vs. M/S Tata Motors Limited(Formerly Known As Tata Engineering & Locomotive Company Ltd), Bombay House, 24, Homi Mody Street, Hutatma Chowk, Mumbai- 400001 Pan/Gir No.Aaact 2727 Q (Appellant) .. (Respondent) Assessee By Shri J.D.Mistri & Nikhil Tiwari, Ar Revenue By Shri R.Manjunatha Swamy, Citdr Date Of Hearing 01/05/2019 Date Of Pronouncement 03/05/2019

…at that point of time, wherein it has been held that no interest under section 234B or 234C is leviable if tax is determined under section 115JB of the Act:- • Kwality Biscuits Ltd (284 ITR 434) (SC) • Snowcem India Ltd (313 ITR 170) (Bom) • Natural Gems Ltd (327 ITR 269) (Bom) Subsequently the Hon'ble Supreme Court in case of Rolta India Ltd (330 ITR 470) (SC) dated 7 January 2011, contrary to the above decisions, has held that interest is leviable even if income tax is payable under MAT provisions. The Hon'ble Tribunal in following cases held that in the assessment made by AO (prior to decision of Supreme Court…

CHARBHUJA INDUSTRIES P. LTD,MUMBAI vs. DCIT 2(1), MUMBAI

In the result appeal of the assessee is allowed

Bench: Shri G.S. Pannu & Shri Pawan Singhm/S Charbhuja Industries Pvt. Dcit-(2)(1) 5Th Floor, Aayakar Bhavan, Ltd. C/O D. C. Jain & Co. 75, Bombay Mutual Building, Vs. Mumbai-400020. 293, Dr. D.N. Road, Fort, Mumbai-400001. Pan: Aabcc7512P Appellant Respondent Appellant By : Shri D.C. Jain (Ar) Respondent By : Shri R. A. Dhyoni (Dr)

…Hon'ble Supreme Court in case of CIT Vs Kwality Biscuits Ltd. 284 ITR 434 as well as a number of other decisions including decisions of Hon'ble Jurisdictional High Court in case of Snowcem India Ltd. Vs DCIT 313 ITR 170 and in case of CIT Vs Natural Gems Ltd. 327 ITR 269 wherein it has been held that no advance MAT was payable by the company. Therefore, the assessee had no reason to belief or foresee a subsequent decision fastening the liability of payment of advance tax. Even otherwise the decision in case of JCIT Vs Rolta India Ltd. (supra) is a subsequent decision and therefore, the impossibilities at the rele…

DCIT CIR 3(3), MUMBAI vs. SICOM LTD, MUMBAI

In the result, appeal of Revenue is dismissed whereas appeal of the assessee is allowed in part in terms indicated hereinabove

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm M/S. Sicom Ltd., Vs. Dcit – 3(3) – Mumbai-20 Nirmal, 1St Floor, Nariman Point, Mumbai – 400 021 Pan/Gir No. Aaacs5524J Appellant) .. Respondent) & Dcit – 3(3) – Mumbai- Vs. M/S. Sicom Ltd., Nirmal, 1St Floor, Nariman Point, 20 Mumbai – 400 021 Pan/Gir No. Aaacs5524J Appellant) .. Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI AMARJIT SINGH, JM M/s. SICOM Ltd., Vs. DCIT – 3(3) – Mumbai-20 Nirmal, 1st Floor, Nariman Point, Mumbai – 400 021 PAN/GIR No. AAACS5524J Appellant) .. Respondent) & DCIT – 3(3) – Mumbai- Vs. M/s. SICOM Ltd., Nirmal, 1st Floor, Nariman Point, 20 Mumbai – 400 021 PAN/GIR No. AAACS5524J Appellant) .. Respondent) Assessee by Shri Rajan Vora with Shri Nikil Tiwari Revenue by Shri B. Pruseth Date of Hearing 20/09/2016 Date of Pronouncement 06/12/2016 आदेश / O R D E R PER R.C.SHARMA (A.M): These are the cross appeals filed by t…

SICOM LTD,MUMBAI vs. DCIT RG 3(3), MUMBAI

In the result, appeal of Revenue is dismissed whereas appeal of the assessee is allowed in part in terms indicated hereinabove

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm M/S. Sicom Ltd., Vs. Dcit – 3(3) – Mumbai-20 Nirmal, 1St Floor, Nariman Point, Mumbai – 400 021 Pan/Gir No. Aaacs5524J Appellant) .. Respondent) & Dcit – 3(3) – Mumbai- Vs. M/S. Sicom Ltd., Nirmal, 1St Floor, Nariman Point, 20 Mumbai – 400 021 Pan/Gir No. Aaacs5524J Appellant) .. Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI AMARJIT SINGH, JM M/s. SICOM Ltd., Vs. DCIT – 3(3) – Mumbai-20 Nirmal, 1st Floor, Nariman Point, Mumbai – 400 021 PAN/GIR No. AAACS5524J Appellant) .. Respondent) & DCIT – 3(3) – Mumbai- Vs. M/s. SICOM Ltd., Nirmal, 1st Floor, Nariman Point, 20 Mumbai – 400 021 PAN/GIR No. AAACS5524J Appellant) .. Respondent) Assessee by Shri Rajan Vora with Shri Nikil Tiwari Revenue by Shri B. Pruseth Date of Hearing 20/09/2016 Date of Pronouncement 06/12/2016 आदेश / O R D E R PER R.C.SHARMA (A.M): These are the cross appeals filed by t…