CIT v. Neo Polypack (P) Ltd.

281 ITR 346High Court2006#1441 most cited
79

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2011 to 2026.

Also referred to as

CIT v. Neo Polypack (P) Ltd. · 281 ITR 346 · section 13 · section 11 · section 12 · advancement of general public utility · section 35ABB · section 37(1) · section 10B · section 14A · compensatory interest · assessment procedure

Sections most often in play

Section 143(3)Section 35ABBSection 37(1)Section 10(B)(3)Section 10B(1)(e)Section 10B(3)Section 1961 - Sections 14ASection 1962 - Rule 8D

Issues it is cited on

section 13(2)(c)section 144(b)section 80laadvancement of general public utilitycompensatory interestsection 12a(a)section 35abbsection 80lsection 13(2)section 11(4a)section 72asection 13(3)

Judgments citing CIT v. Neo Polypack (P) Ltd.

DCIT, New Delhi vs. M/S. Ratna Commercial Enterprises Pvt. Ltd., New Delhi

In the result, the appeal filed by the Revenue is dismissed and the appeal filed by the assessee is allowed for statistical purposes as indicated above

ITA 4574/DEL/2015[2010-11]Status: DisposedITAT Delhi13 Nov 2019AY 2010-11

Bench: Shri R.K. Panda & Shri Kuldip Singhassessment Year: 2010-11 Ratna Commercial Enterprises Pvt. Ltd., Vs Addl. Cit, 4Th Floor, Punjabi Bhawan, Range-15, 10, House Avenue, New Delhi. New Delhi. Pan: Aaacr0354B Assessment Year: 2010-11 Dcit, Vs. Ratna Commercial Enterprises Circle 21(1), Pvt. Ltd., 4Th Floor, Punjabi Bhawan, New Delhi. 10, House Avenue, New Delhi. Pan: Aaacr0354B (Appellant) (Respondent) Assessee By : Shri M.P. Rastogi, Advocate Revenue By : Shri J.K. Mishra, Cit, Dr Date Of Hearing : 05.09.2019 Date Of Pronouncement : 13.11.2019 Order Per R.K. Panda, Am: These Are Cross Appeals. The First One Is Filed By The Assessee & The Second One By The Revenue & Are Directed Against The Order Dated 22Nd April, 2015 Of The Cit(A)-11, New Delhi, Relating To Assessment Year 2010-11. Ita No.3796/Del/2015 2. The Grounds Raised By The Revenue Read As Under:-

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri J.K. Mishra, CIT, DR
Section 115JSection 138

…rence of the A.O. is contrary to the judicial principle of consistency approved by the Hon’ble Apex Court and Hon’ble Jurisdictional High Court respectively in the case of [Radhasoami Satsang v. CIT 1992] 193 ITR 321 (SC) and [Dalmia Promoters Pvt. Ltd. 2006] 281 ITR 346 (Del) 4.9.6 The condition precedent for such an action by the appellant is that the loan or advance given in the ordinary course of money lending business is written off during the relevant Assessment Year. The assessee has written off the loan as bad debt in the AY 2010-11 which is not disputed by the AO. Hon’ble Delhi High Court in the case of…

M/S. Motorola Solutions India Pvt. Ltd., Gurgaon vs. DCIT, Gurgaon

Appeal of the assessee is partly allowed for statistical purpose

ITA 5797/DEL/2012[2008-09]Status: DisposedITAT Delhi31 Oct 2019AY 2008-09

Bench: Shri N.K. Billaiya & Ms Suchitra Kamble, [Assessment Year: 2008-09]

Section 143(3)Section 144CSection 92Section 92C

…situation or law in the current year then working capital adjustment cannot be denied if allowed in previous assessment year. The Ld. AR relied upon the decision of the Hon’ble Jurisdictional High Court in the case CIT vs. Dalmia Promoters Developers (P) Ltd. 281 ITR 346]. The said judgment was followed by the Delhi ITAT in Nokia India (P.) Ltd. v. DCIT IT A 4559 of 2011 (A.Y. 2007-08) and Nokia India (P.) Ltd. v. DCIT IT A No. 2445 of 2010 (A.Y. 2003-04). The Delhi High Court dismissed the appeal filed by the department against the case for A.Y.2007-08 in PCIT v. Nokia India (P.) Ltd. ITA 955 of 2018. The Ld. AR…

Landbase India Ltd., Gurgaon vs. DCIT, New Delhi

In the result, appeal of the assessee for assessment year 2011-12 is allowed

ITA 4999/DEL/2015[2011-12]Status: DisposedITAT Delhi26 Aug 2019AY 2011-12

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 143(3)Section 147Section 148Section 32(1)

…e u/s 143(3) of the IT Act. In the present case, we do not find any change in the circumstances of the case facts or law. Under the circumstances, we refer to Hon'ble Jurisdictional High Court decision in the case CIT vs. Dalmia Promoters Developers (P) Ltd. 281 ITR 346 wherein it was held that when there is absence of any material change in the facts and law, the view taken for earlier year cannot be disturbed. In the present case, we find that no such material change has been brought out before us. Since the depreciation @25% on the said asset has been allowed for A.Y. 2001-02, we do not see any reason to dist…

Landbase India Ltd., Gurgaon vs. DCIT, New Delhi

In the result, appeal of the assessee for assessment year 2011-12 is allowed

ITA 4998/DEL/2015[2010-11]Status: DisposedITAT Delhi26 Aug 2019AY 2010-11

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 143(3)Section 147Section 148Section 32(1)

…e u/s 143(3) of the IT Act. In the present case, we do not find any change in the circumstances of the case facts or law. Under the circumstances, we refer to Hon'ble Jurisdictional High Court decision in the case CIT vs. Dalmia Promoters Developers (P) Ltd. 281 ITR 346 wherein it was held that when there is absence of any material change in the facts and law, the view taken for earlier year cannot be disturbed. In the present case, we find that no such material change has been brought out before us. Since the depreciation @25% on the said asset has been allowed for A.Y. 2001-02, we do not see any reason to dist…

Landbase India Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the assessee for assessment year 2011-12 is allowed

ITA 4560/DEL/2011[2005-06]Status: DisposedITAT Delhi26 Aug 2019AY 2005-06

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 143(3)Section 147Section 148Section 32(1)

…e u/s 143(3) of the IT Act. In the present case, we do not find any change in the circumstances of the case facts or law. Under the circumstances, we refer to Hon'ble Jurisdictional High Court decision in the case CIT vs. Dalmia Promoters Developers (P) Ltd. 281 ITR 346 wherein it was held that when there is absence of any material change in the facts and law, the view taken for earlier year cannot be disturbed. In the present case, we find that no such material change has been brought out before us. Since the depreciation @25% on the said asset has been allowed for A.Y. 2001-02, we do not see any reason to dist…

M/S Landbase India Ltd., Gurgaon vs. ACIT, New Delhi

In the result, appeal of the assessee for assessment year 2011-12 is allowed

ITA 138/DEL/2016[2012-13]Status: DisposedITAT Delhi26 Aug 2019AY 2012-13

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 143(3)Section 147Section 148Section 32(1)

…e u/s 143(3) of the IT Act. In the present case, we do not find any change in the circumstances of the case facts or law. Under the circumstances, we refer to Hon'ble Jurisdictional High Court decision in the case CIT vs. Dalmia Promoters Developers (P) Ltd. 281 ITR 346 wherein it was held that when there is absence of any material change in the facts and law, the view taken for earlier year cannot be disturbed. In the present case, we find that no such material change has been brought out before us. Since the depreciation @25% on the said asset has been allowed for A.Y. 2001-02, we do not see any reason to dist…

Landbase India Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the assessee for assessment year 2011-12 is allowed

ITA 653/DEL/2011[2007-08]Status: DisposedITAT Delhi26 Aug 2019AY 2007-08

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 143(3)Section 147Section 148Section 32(1)

…e u/s 143(3) of the IT Act. In the present case, we do not find any change in the circumstances of the case facts or law. Under the circumstances, we refer to Hon'ble Jurisdictional High Court decision in the case CIT vs. Dalmia Promoters Developers (P) Ltd. 281 ITR 346 wherein it was held that when there is absence of any material change in the facts and law, the view taken for earlier year cannot be disturbed. In the present case, we find that no such material change has been brought out before us. Since the depreciation @25% on the said asset has been allowed for A.Y. 2001-02, we do not see any reason to dist…

ACIT, New Delhi vs. M/S. Landbase India Ltd., New Delhi

In the result, appeal of the assessee for assessment year 2011-12 is allowed

ITA 4849/DEL/2011[2005-06]Status: DisposedITAT Delhi26 Aug 2019AY 2005-06

Bench: Smt Beena A Pillai & Shri Prashant Maharishi

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 143(3)Section 147Section 148Section 32(1)

…e u/s 143(3) of the IT Act. In the present case, we do not find any change in the circumstances of the case facts or law. Under the circumstances, we refer to Hon'ble Jurisdictional High Court decision in the case CIT vs. Dalmia Promoters Developers (P) Ltd. 281 ITR 346 wherein it was held that when there is absence of any material change in the facts and law, the view taken for earlier year cannot be disturbed. In the present case, we find that no such material change has been brought out before us. Since the depreciation @25% on the said asset has been allowed for A.Y. 2001-02, we do not see any reason to dist…

M/S. Dolphin Drilling Pte. Ltd., New Delhi vs. ADIT, Dehradun

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

ITA 355/DEL/2012[2007-08]Status: DisposedITAT Delhi27 Feb 2019AY 2007-08

Bench: : Shri Amit Shukla & Shri L.P. Sahuassessment Year: 2007-08

Section 143(3)Section 92C

…wherein the aforesaid position has consistently been upheld by the High Courts, including this Hon’ble Court.: • CIT vs Neo Polypack (P) Ltd: 245 ITR 492 9Del) • DIT (E) V. Apparel Export Promotion Council: 244 ITR 734 (Del) • CIT V. Girish Mohan Ganeriwala: 260 ITR 417 (P&H) • CIT V. Dalmial Promoters Developers (P) Ltd: 200 CTR 426 (Del) • CIT vs. A.K.J. Security Printers: 264 ITR 276(Del) • M/S Escorts Cardiac Diseases Hospital : 300 ITR 75 (Del) • Giesecke & Devrient India Private Limited. Vs DCIT (ITA No. 5400/Del/2010) • Lloyds TSB Global Services Private Limited (ITA No. 5928/Mum/2012) • ARJ Security Prin…

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal of the assessee is partly allowed for statistical purpose

ITA 467/DEL/2014[2009-10]Status: DisposedITAT Delhi17 Oct 2018AY 2009-10

Bench: Shri R. K. Panda & Ms Suchitra Kamblei.T.A .No. 467/Del/2014 (A.Y 2009-10)

Section 143(3)Section 144CSection 144C(5)Section 43Section 43B

…isions: • CIT vs. Excel Industries (P) Limited: 358 ITR 295 (SC) • Radhasoami Satsang v. CIT 193 ITR 321 (SC) DIT (E) v. Apparel Export Promotion Council: 244 ITR 734 (Del) • CIT v. Neo Polypack (P) Ltd: 245 ITR 492 (Del.) • • CIT v. Girish Mohan Ganeriwala: 260 ITR 417 (P&H) • CIT V. Dalmia Promoters Developers (P) Ltd: 200 CTR 426 (Del.) • Escorts Cardiac Diseases Hospital: 300 ITR 75 (Del) The Ld. AR further submitted that against the total accrued liability claimed during the year amounting to Rs.36.38 crores, the entire amount has either been paid or written-back and offered for tax as part of his chargeab…

Shri Krishna Shriram, New Delhi vs. ACIT, New Delhi

In the result, both the appeals of the assessee and Revenue are dismissed

ITA 866/DEL/2013[2006-07]Status: DisposedITAT Delhi13 Sept 2018AY 2006-07

Bench: : Shri Amit Shukla & Shri L.P. Sahuassessment Year: 2006-07

Section 143(3)Section 234BSection 263Section 56Section 69

…determine the character of the asset as to whether it is capital asset or business asset (stock-in-trade). The appellant has also cited the judgement of Bombay, Madras, Punjab and Haryana High Court in the following cases: 1) CIT vs. Girish Mohan Ganeriwale 260 ITR 417(P & H) 2) CIT vs. Ramaamirtham 306 ITR 239 (Mad.) 3) CTR vs. Gopal Purohit 228 ITR 582 (Mum) To state that where it had been accepted as capital gains in the earlier years, the same cannot be treated as stock-in-trade in the subsequent years. In view of the above discussion, the detailed factors and past history of the appellant, it is seen tha…

DCIT, New Delhi vs. Sh. Krishna Shriram, New Delhi

In the result, both the appeals of the assessee and Revenue are dismissed

ITA 1417/DEL/2013[2006-07]Status: DisposedITAT Delhi13 Sept 2018AY 2006-07

Bench: : Shri Amit Shukla & Shri L.P. Sahuassessment Year: 2006-07

Section 143(3)Section 234BSection 263Section 56Section 69

…determine the character of the asset as to whether it is capital asset or business asset (stock-in-trade). The appellant has also cited the judgement of Bombay, Madras, Punjab and Haryana High Court in the following cases: 1) CIT vs. Girish Mohan Ganeriwale 260 ITR 417(P & H) 2) CIT vs. Ramaamirtham 306 ITR 239 (Mad.) 3) CTR vs. Gopal Purohit 228 ITR 582 (Mum) To state that where it had been accepted as capital gains in the earlier years, the same cannot be treated as stock-in-trade in the subsequent years. In view of the above discussion, the detailed factors and past history of the appellant, it is seen tha…

ACIT, Circle-2(1), Kolkata vs. M/S. Boulevard Servicess Pvt. Ltd., Kolkata

ITA 1577/KOL/2017[2008-09]Status: DisposedITAT Kolkata24 Aug 2018AY 2008-09

Bench: Hon’Ble Shri S.S.Godara, Jm & Dr.A.L.Saini, Am ] Assessment Years : 2008-09

For Appellant: Shri A.K.Tibrewal, FCAFor Respondent: Shri G.Mallikarjuna, DR & Shri Saurabh Kumar,Addl.CIT,Sr.DR
Section 143(3)Section 43B

…rom the instant case file. Assessee’s reliance on hon’ble apex court’s decision hereinabove is also without any merit. The said appeal before their lordships arose from hon’ble Delhi high court’s decision in CIT vs Dalmia Promoters Developers Pvt. Ltd. [2006] 281 ITR 346 (Delhi) wherein the concerned assessee had very much demonstrated in para-5 that the interest income in issue was an integral part of its business activity since having direct link with real estate business representing margin money and change of land use. We make it clear that there are no such facts emanating from the case records. We therefore…

ACIT, Cir-2(1), Kolkata vs. M/S Boulevard Services Pvt. Ltd, Kolkata

ITA 2070/KOL/2016[2008-09]Status: DisposedITAT Kolkata24 Aug 2018AY 2008-09

Bench: Hon’Ble Shri S.S.Godara, Jm & Dr.A.L.Saini, Am ] Assessment Years : 2008-09

For Appellant: Shri A.K.Tibrewal, FCAFor Respondent: Shri G.Mallikarjuna, DR & Shri Saurabh Kumar,Addl.CIT,Sr.DR
Section 143(3)Section 43B

…rom the instant case file. Assessee’s reliance on hon’ble apex court’s decision hereinabove is also without any merit. The said appeal before their lordships arose from hon’ble Delhi high court’s decision in CIT vs Dalmia Promoters Developers Pvt. Ltd. [2006] 281 ITR 346 (Delhi) wherein the concerned assessee had very much demonstrated in para-5 that the interest income in issue was an integral part of its business activity since having direct link with real estate business representing margin money and change of land use. We make it clear that there are no such facts emanating from the case records. We therefore…

ACIT, Cir-2(1), Kolkata vs. M/S Boulevard Services Pvt. Ltd, Kolkata

ITA 1753/KOL/2016[2010-11]Status: DisposedITAT Kolkata24 Aug 2018AY 2010-11

Bench: Hon’Ble Shri S.S.Godara, Jm & Dr.A.L.Saini, Am ] Assessment Years : 2008-09

For Appellant: Shri A.K.Tibrewal, FCAFor Respondent: Shri G.Mallikarjuna, DR & Shri Saurabh Kumar,Addl.CIT,Sr.DR
Section 143(3)Section 43B

…rom the instant case file. Assessee’s reliance on hon’ble apex court’s decision hereinabove is also without any merit. The said appeal before their lordships arose from hon’ble Delhi high court’s decision in CIT vs Dalmia Promoters Developers Pvt. Ltd. [2006] 281 ITR 346 (Delhi) wherein the concerned assessee had very much demonstrated in para-5 that the interest income in issue was an integral part of its business activity since having direct link with real estate business representing margin money and change of land use. We make it clear that there are no such facts emanating from the case records. We therefore…

ACIT, Cir-2(1), Kolkata vs. M/S Boulevard Services Pvt. Ltd, Kolkata

ITA 1752/KOL/2016[2009-10]Status: DisposedITAT Kolkata24 Aug 2018AY 2009-10

Bench: Hon’Ble Shri S.S.Godara, Jm & Dr.A.L.Saini, Am ] Assessment Years : 2008-09

For Appellant: Shri A.K.Tibrewal, FCAFor Respondent: Shri G.Mallikarjuna, DR & Shri Saurabh Kumar,Addl.CIT,Sr.DR
Section 143(3)Section 43B

…rom the instant case file. Assessee’s reliance on hon’ble apex court’s decision hereinabove is also without any merit. The said appeal before their lordships arose from hon’ble Delhi high court’s decision in CIT vs Dalmia Promoters Developers Pvt. Ltd. [2006] 281 ITR 346 (Delhi) wherein the concerned assessee had very much demonstrated in para-5 that the interest income in issue was an integral part of its business activity since having direct link with real estate business representing margin money and change of land use. We make it clear that there are no such facts emanating from the case records. We therefore…

Boulevard Servicess Pvt. Ltd., Kolkata vs. ACIT, Circle-2(1), Kolkata

ITA 1743/KOL/2016[2010-11]Status: DisposedITAT Kolkata24 Aug 2018AY 2010-11

Bench: Hon’Ble Shri S.S.Godara, Jm & Dr.A.L.Saini, Am ] Assessment Years : 2008-09

For Appellant: Shri A.K.Tibrewal, FCAFor Respondent: Shri G.Mallikarjuna, DR & Shri Saurabh Kumar,Addl.CIT,Sr.DR
Section 143(3)Section 43B

…rom the instant case file. Assessee’s reliance on hon’ble apex court’s decision hereinabove is also without any merit. The said appeal before their lordships arose from hon’ble Delhi high court’s decision in CIT vs Dalmia Promoters Developers Pvt. Ltd. [2006] 281 ITR 346 (Delhi) wherein the concerned assessee had very much demonstrated in para-5 that the interest income in issue was an integral part of its business activity since having direct link with real estate business representing margin money and change of land use. We make it clear that there are no such facts emanating from the case records. We therefore…

Boulevard Servicess Pvt. Ltd., Kolkata vs. ACIT, Circle-2(1), Kolkata

ITA 1742/KOL/2016[2009-10]Status: DisposedITAT Kolkata24 Aug 2018AY 2009-10

Bench: Hon’Ble Shri S.S.Godara, Jm & Dr.A.L.Saini, Am ] Assessment Years : 2008-09

For Appellant: Shri A.K.Tibrewal, FCAFor Respondent: Shri G.Mallikarjuna, DR & Shri Saurabh Kumar,Addl.CIT,Sr.DR
Section 143(3)Section 43B

…rom the instant case file. Assessee’s reliance on hon’ble apex court’s decision hereinabove is also without any merit. The said appeal before their lordships arose from hon’ble Delhi high court’s decision in CIT vs Dalmia Promoters Developers Pvt. Ltd. [2006] 281 ITR 346 (Delhi) wherein the concerned assessee had very much demonstrated in para-5 that the interest income in issue was an integral part of its business activity since having direct link with real estate business representing margin money and change of land use. We make it clear that there are no such facts emanating from the case records. We therefore…

Boulevard Servicess Pvt. Ltd., Kolkata vs. ACIT, Circle-2(1), Kolkata

ITA 1741/KOL/2016[2008-09]Status: DisposedITAT Kolkata24 Aug 2018AY 2008-09

Bench: Hon’Ble Shri S.S.Godara, Jm & Dr.A.L.Saini, Am ] Assessment Years : 2008-09

For Appellant: Shri A.K.Tibrewal, FCAFor Respondent: Shri G.Mallikarjuna, DR & Shri Saurabh Kumar,Addl.CIT,Sr.DR
Section 143(3)Section 43B

…rom the instant case file. Assessee’s reliance on hon’ble apex court’s decision hereinabove is also without any merit. The said appeal before their lordships arose from hon’ble Delhi high court’s decision in CIT vs Dalmia Promoters Developers Pvt. Ltd. [2006] 281 ITR 346 (Delhi) wherein the concerned assessee had very much demonstrated in para-5 that the interest income in issue was an integral part of its business activity since having direct link with real estate business representing margin money and change of land use. We make it clear that there are no such facts emanating from the case records. We therefore…

DCIT, New Delhi vs. M/S. Gujarat Guardian Ltd., New Delhi

In the result, appeal filed by the revenue against the direction of the Ld

ITA 1106/DEL/2015[2010-11]Status: DisposedITAT Delhi16 Aug 2018AY 2010-11

Bench: Shri S.K.Yadav & Shri Prashant Maharishim/S. Guajarat Guardian Ltd, Vs. Dcit, 4-7/C, Dda Shopping Centre, Circle-12(1), (Now Circle- New Friends Colony, 10(2), New Delhi Cr Building, Ip Estate, Pan: Aaacg1622K New Delhi (Appellant) (Respondent) Dcit, Vs. M/S. Guajarat Guardian Ltd, Circle-12(1), (Now Circle-10(2), 4-7/C, Dda Shopping Cr Building, Ip Estate, Centre, New Delhi New Friends Colony, New Delhi Pan: Aaacg1622K (Appellant) (Respondent)

For Appellant: Shri Neeraj Jain, AdvFor Respondent: Smt Meeta Singh CIT DR
Section 144Section 144CSection 14A

…s: - CIT vs. Excel Industries Ltd.: 358 ITR 295 (SC) - Radhasoami Satsang v. CIT: 193 ITR 321 (SC) - DIT (E) v. Apparel Export Promotion Council: 244 ITR 734 (Del) - CIT v. Neo Polypack (P) Ltd: 245 ITR 492 (Del.) - CIT v. Dalmia Promoters Developers (P) Ltd: 281 ITR 346 (Del.) - DIT v. Escorts Cardiac Diseases Hospital: 300 ITR 75 (Del.) - CIT v. P. KhrishnaWarrier: 208 ITR 823 (Ker) - CIT v Harishchandra Gupta 132 ITR 799 (Ori) - CIT v. SewaBharti Haryana Pradesh: 325 ITR 599 (P&H) o CIT v. Rajasthan Breweries Limited.: ITA 889/2009 (Del) – SLP dismissed. Thus, in view of the above, the department having accept…