CIT v. Nirma Ltd.

397 ITR 49High Court2017#1399 most cited

What is CIT v. Nirma Ltd. authority for?

Interest from debtors and foreign exchange rate difference arising from exports are includible in the eligible profit for computing deductions under section 80HHC.

82

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2015 to 2025.

Also referred to as

CIT v. Nirma Ltd. · Nirma Ltd. · Section 80HHC · Section 80HHC(3) · eligible profit · interest from debtors · foreign exchange difference · export deduction · business income · 397 ITR 49

Also reported as

55 Taxmann.com 125229 Taxmann 535

Sections most often in play

Section 115JBSection 234DSection 271(1)(c)Section 37(1)Section 80HHCSection 92C(4)Section 143(3)Section 43B

Issues it is cited on

section 80hhc(3)section 28(iv)section 80hhcsection 80hhsection 80hsection 115jasection 80iasection 234deligible businesssection 80icorporate guaranteeright to receive

Judgments citing CIT v. Nirma Ltd.

Transstroy(India)Limited, Guntur vs. ACIT, Circle-2(1), Guntur

The appeal of the Revenue is allowed for A

ITA 529/VIZ/2017[2013-14]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2013-14

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

ACIT, Circle-2(1)., Guntur vs. Transstroy(India)Ltd., Guntur

The appeal of the Revenue is allowed for A

ITA 509/VIZ/2017[2013-14]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2013-14

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

The ACIT, Guntur vs. M/S. Transstory (India) Ltd., Guntur

The appeal of the Revenue is allowed for A

ITA 470/VIZ/2016[2012-2013]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2012-2013

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

Transstroy (India) Ltd., Hyderabad vs. The ACIT., Guntur

The appeal of the Revenue is allowed for A

ITA 430/VIZ/2016[2012-2013]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2012-2013

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

Transtroy India Ltd., Hyderabad vs. The ACIT, Guntur

The appeal of the Revenue is allowed for A

ITA 193/VIZ/2015[2011-12]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2011-12

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

The ACIT, Guntur vs. M/S Transstroy (India) Ltd., Guntur

The appeal of the Revenue is allowed for A

ITA 163/VIZ/2015[2011-12]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2011-12

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

The ACIT, Guntur vs. M/S Transstroy India Ltd., Guntur

The appeal of the Revenue is allowed for A

ITA 162/VIZ/2015[2009-10]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2009-10

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

Ultimate Flexipack Ltd, New Delhi vs. DCIT, New Delhi

ITA 901/DEL/2009[2005-06]Status: DisposedITAT Delhi20 Mar 2019AY 2005-06

Bench: Shri R. K. Panda & Ms Suchitra Kamble & Ultimate Flexipack Ltd. Vs Dcit 305, 3Rd Floor, Bhanot Corner, Central Circle-18 Pamposh Enclave, Greater Kailash-1 Ara Centre,E-2, Jhandewalan New Delhi Aaacu6565D New Delhi (Appellant) (Respondent) Dcit Vs Ultimate Flexipack Ltd. Central Circle-18 305, 3Rd Floor, Bhanot Corner, Ara Centre, E-2, Jhandewalan Pamposh Enclave, Greater New Delhi Kailash-1 New Delhi Aaacu6565D (Appellant) (Respondent)

Section 115JSection 80Section 80I

…hnical know- how from the gross payment and then the residual figure should be allocated to the respective units in proportion to their turnover. For this purpose, the Ld. AR relied upon the decision of Hon’ble Gujarat High Court in case of CIT vs. Nirma Ltd. 367 ITR 12. The Ld. AR further submitted that the receipt of sub- licensing of Rs. 7.18 core was mentioned in the Assessment Order of A.Y. 2004-05. Similarly the claim of expenses was also before Assessing Officer and the same was discussed in the assessment order. 6. As regards the additional ground raised on 12.03.2018, the Ld. AR submitted that the same…

DCIT, New Delhi vs. M/S. Ultimate Flexible Ltd, New Delhi

ITA 2782/DEL/2009[2006-07]Status: DisposedITAT Delhi20 Mar 2019AY 2006-07

Bench: Shri R. K. Panda & Ms Suchitra Kamble & Ultimate Flexipack Ltd. Vs Dcit 305, 3Rd Floor, Bhanot Corner, Central Circle-18 Pamposh Enclave, Greater Kailash-1 Ara Centre,E-2, Jhandewalan New Delhi Aaacu6565D New Delhi (Appellant) (Respondent) Dcit Vs Ultimate Flexipack Ltd. Central Circle-18 305, 3Rd Floor, Bhanot Corner, Ara Centre, E-2, Jhandewalan Pamposh Enclave, Greater New Delhi Kailash-1 New Delhi Aaacu6565D (Appellant) (Respondent)

Section 115JSection 80Section 80I

…hnical know- how from the gross payment and then the residual figure should be allocated to the respective units in proportion to their turnover. For this purpose, the Ld. AR relied upon the decision of Hon’ble Gujarat High Court in case of CIT vs. Nirma Ltd. 367 ITR 12. The Ld. AR further submitted that the receipt of sub- licensing of Rs. 7.18 core was mentioned in the Assessment Order of A.Y. 2004-05. Similarly the claim of expenses was also before Assessing Officer and the same was discussed in the assessment order. 6. As regards the additional ground raised on 12.03.2018, the Ld. AR submitted that the same…

Ultimate Flexipack Ltd., New Delhi vs. DCIT, New Delhi

ITA 2199/DEL/2009[2006-07]Status: DisposedITAT Delhi20 Mar 2019AY 2006-07

Bench: Shri R. K. Panda & Ms Suchitra Kamble & Ultimate Flexipack Ltd. Vs Dcit 305, 3Rd Floor, Bhanot Corner, Central Circle-18 Pamposh Enclave, Greater Kailash-1 Ara Centre,E-2, Jhandewalan New Delhi Aaacu6565D New Delhi (Appellant) (Respondent) Dcit Vs Ultimate Flexipack Ltd. Central Circle-18 305, 3Rd Floor, Bhanot Corner, Ara Centre, E-2, Jhandewalan Pamposh Enclave, Greater New Delhi Kailash-1 New Delhi Aaacu6565D (Appellant) (Respondent)

Section 115JSection 80Section 80I

…hnical know- how from the gross payment and then the residual figure should be allocated to the respective units in proportion to their turnover. For this purpose, the Ld. AR relied upon the decision of Hon’ble Gujarat High Court in case of CIT vs. Nirma Ltd. 367 ITR 12. The Ld. AR further submitted that the receipt of sub- licensing of Rs. 7.18 core was mentioned in the Assessment Order of A.Y. 2004-05. Similarly the claim of expenses was also before Assessing Officer and the same was discussed in the assessment order. 6. As regards the additional ground raised on 12.03.2018, the Ld. AR submitted that the same…

Shefali Ghosh, Kolkata vs. ACIT, Circle - 43, Kolkata

Appeal is partly allowed for statistical purpose in above terms

ITA 1810/KOL/2018[2004-05]Status: DisposedITAT Kolkata28 Feb 2019AY 2004-05

Bench: Hon’Ble Shri S.S. Godara, Jm] I.T.A No.1810/Kol/2018 Assessment Year : 2004-05 Smt. Shefali Ghosh Vs. A.C.I.T, Cir-43, Kolkata Pan: Adtpg6963A (Appellant) (Respondent) For The Appellant : Shri Subash Agarwal, Advocate, Ld.Ar For The Respondent : Shri C.J. Singh, Jcit, Ld.Sr.Dr

For Appellant: Shri Subash Agarwal, Advocate, ld.ARFor Respondent: Shri C.J. Singh, JCIT, ld.Sr.DR
Section 143(3)Section 28Section 33ASection 80H

…as income from other sources. The assessee’s only argument during the course of hearing is that the lower authorities ought to have adopted netting principle regarding the interest amount in issue. I find hon’ble Gujarat high court’s decision in CIT Vs. 2015 367 ITR 12 as well as in apex court’s judgment in 201 343 ITR 89 (SC) in ACG Capsules V/s CIT settle the law that netting principle has to be adopted in such an issue. I therefore direct the Assessing Officer to frame a fresh computation by adopting netting formula. 6. The assessee is very fair in not pressing third substantive ground seeking to delete vehi…

Dy.Commissioner of Income Tax, Circle-1(1)(1), Ahmedabad vs. M/S. Adani Port & Special Economic Zone Ltd., Ahmedabad

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

ITA 3482/AHD/2014[2010-11]Status: DisposedITAT Ahmedabad12 Feb 2019AY 2010-11
Section 143(3)Section 80Section 80I

…under section 80IAB, and, for this short reason, the grievance against netting of interest is wholly academic and infructuous. The stand of the CIT(A) thus attained finality. In any case, Hon’ble jurisdictional High Court, in the case of CIT Vs Nirma Limited (367 ITR 12), has held that netting of interest for the purpose of this deduction can be allowed. Whichever way one looks at it, the issue is covered, in favour of the assessee, by the binding judicial precedents. We, therefore, have no reasons to disturb the conclusions arrived at by the learned CIT(A). In view of these discussions, as also bearing in mind e…

Dy. Commissioner of Income Tax, Circle-1(1)(1), Ahmedabad vs. M/S. Adani Port & Special Economic Zone Ltd., Ahmedabad

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

ITA 3481/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad12 Feb 2019AY 2009-10
Section 143(3)Section 80Section 80I

…under section 80IAB, and, for this short reason, the grievance against netting of interest is wholly academic and infructuous. The stand of the CIT(A) thus attained finality. In any case, Hon’ble jurisdictional High Court, in the case of CIT Vs Nirma Limited (367 ITR 12), has held that netting of interest for the purpose of this deduction can be allowed. Whichever way one looks at it, the issue is covered, in favour of the assessee, by the binding judicial precedents. We, therefore, have no reasons to disturb the conclusions arrived at by the learned CIT(A). In view of these discussions, as also bearing in mind e…

Vardhman Holdings Ltd., Ludhiana vs. ACIT

The appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 88/CHANDI/2009[2003-04]Status: DisposedITAT Chandigarh26 Nov 2018AY 2003-04
For Appellant: Shri Subhash Aggarwal, AdvFor Respondent: Shri Jagdish Goyal, CIT DR
Section 10BSection 143(3)Section 250(6)Section 80HSection 80I

…of Mahavir Spinning Mills vs. ACIT Ltd in ITA No. 344/09 A.Y 1997-98 dated 30.11.2015(Chd) ( Pg. 1-8) (ii) Tribunal's order in the case of Vardhman Textiles Ltd. vs. ACIT in ITA No. 392/07 AY 2001-02 dated 21.10.15(Chd) (Pg. 135-144) (iii) CIT vs. Nirma Ltd. 397 ITR 49 ( Guj) - Dated 08.6.16. (case law pgs. 212 - 218) 9. Further the Ld. counsel for assessee pointed out that identical issue had been dealt with in the case of sister concern of the assessee M/s Vardhman Textiles Ltd., as pointed out earlier, wherein the I.T.A.T. had held the said subsidy as being capital receipt. Our attention was drawn to the r…

ACIT, Ludhiana vs. M/S Vardhman Holdings Ltd., Ludhiana

The appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 118/CHANDI/2009[2003-04]Status: DisposedITAT Chandigarh26 Nov 2018AY 2003-04
For Appellant: Shri Subhash Aggarwal, AdvFor Respondent: Shri Jagdish Goyal, CIT DR
Section 10BSection 143(3)Section 250(6)Section 80HSection 80I

…of Mahavir Spinning Mills vs. ACIT Ltd in ITA No. 344/09 A.Y 1997-98 dated 30.11.2015(Chd) ( Pg. 1-8) (ii) Tribunal's order in the case of Vardhman Textiles Ltd. vs. ACIT in ITA No. 392/07 AY 2001-02 dated 21.10.15(Chd) (Pg. 135-144) (iii) CIT vs. Nirma Ltd. 397 ITR 49 ( Guj) - Dated 08.6.16. (case law pgs. 212 - 218) 9. Further the Ld. counsel for assessee pointed out that identical issue had been dealt with in the case of sister concern of the assessee M/s Vardhman Textiles Ltd., as pointed out earlier, wherein the I.T.A.T. had held the said subsidy as being capital receipt. Our attention was drawn to the r…

M/S. K Kalpana Infrastructures Ltd., Kolkata vs. Pr.CIT, Central - 1, Kolkata

Appeal is allowed

ITA 814/KOL/2018[2013-14]Status: DisposedITAT Kolkata06 Nov 2018AY 2013-14

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godaraassessment Year:2013-14

Section 143(3)Section 263Section 80

…Ram Honda Power Equip (2007) ITR 475 (Del) answer the very question in assessee’s favour. Hon'ble Gujarat high court’s ITA No.814/Kol/2018 A.Y. 2013-14 M/s Kkalpana Industries (I) Ltd. Vs. Pr. CIT, Central-1, Kol. Page 8 judgment in CIT vs. Nirma Ltd. (2014) 367 ITR 12 (Guj) makes it clear that although the former foregoing judicial precedent dealt with 80HHC deduction involving complex computation formula this distinction in itself vis-a-vis section 80I of the Act will not be material the impugned deduction so far as the central question of exclusion of certain profits from the activity which is not eligible fo…

Ultimate Flexipack Ltd, New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee in ITA No

ITA 795/DEL/2009[2004-05]Status: DisposedITAT Delhi12 Jul 2018AY 2004-05

Bench: Shri N.K. Billaiya & Shri Kuldip Singh[A.Y 2004-05] M/S Ultimate Flexipack Ltd Vs. The C.I.T 305, 3Rd Floor, Bhanot Corner [Appeals] - 3 Pamposh Enclave, Greater Kailash -I New Delhi New Delhi

For Appellant: Shri M.P. RAstogi, AdvFor Respondent: Shri Vijay Verma, CIT- DR
Section 153ASection 234BSection 80

…of such technical know-how from the gross payment and then the residual figure should be allocated to the respective units in proportion to their turnover. For this purpose, the assessee relied upon the judgment of Gujarat High Court in CIT vs. Nirma Ltd. in 367 ITR 12.” 4. Before proceeding further, let us understand the facts of the case as emanating from the records. The return u/s 139(1) of the Income-tax Act, 1961 [hereinafter referred to as 'the Act'. was filed on 31.10.2004 which was revised on 31.03.2006. A search action u/s 132 of the Act took place on 23.2.2006 which means that on the date of search,…

Rajasthan State Mines & Minerals Ltd., Jaipur vs. ACIT, Jaipur

In the result, appeal of the Revenue is partly allowed for statistical purpose

ITA 253/JPR/2015[2007-08]Status: DisposedITAT Jaipur30 May 2017AY 2007-08

…l for the assessee placed reliance upon the judgment of the Hon’ble Madhya Pradesh High Court rendered in the case of CIT vs. Prakash Oils Ltd. 58 DTR 276 (MP) also the judgment of the Hon’ble Delhi High Court in the case of CIT vs. Advance Detergents Ltd. 339 ITR 81 (2011) (Del.) further reliance is placed upon the judgment of the Hon’ble Supreme Court in the case of CIT vs. Meghalaya Steels Ltd. 383 ITR 217. The Ld. Counsel submitted that the damages are directly linked with the business of the assessee. Therefore, the deduction u/s 80IA is allowable on this amount. 35.2 On the contrary, the Ld. Departmenta…

Hero Motocorp Limited, New Delhi vs. JCIT, New Delhi

In the result appeal of the assessee in ITA No

ITA 1545/DEL/2015[2010-11]Status: DisposedITAT Delhi24 Oct 2016AY 2010-11

Bench: Sh. I. C. Sudhir & Shri Prashant Maharishihero Motocorp Limited, Jcit, 34, Basant Lok, Vasant Range-1, New Delhi Vs. Vihar, New Delhi Pan: Aaach0812J (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community Vs. New Delhi Centre, Basant Lok, Vasant Vihar, New Delhi-110057 (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. NC Sawain, CIT DR
Section 143Section 143(3)Section 144CSection 92C

…nterest income earned from delay in payment received from customers of the relevant undertaking is to be regarded as ‗derived‘ from the eligible business, which is eligible for deduction under section 80IA/80IB/80IC of the Act: (i) CIT v. Advance Detergents: 339 ITR 81 (Del.) (ii) CIT v. Vidyut Corporation: 324 ITR 221 (Bom) (iii) CIT v. Eltek SGS (P) Ltd: 300 ITR 6 (Del.) (iv) CIT v. Poddar Pigments Ltd: 41 DTR 390 (Del.) (v) CIT v. Prallay Oils Ltd: 58 DTR 271 (MP) Hero MotoCorp Limited Vs. JCIT & DCIT Vs. Hero MotoCorp Ltd. ITA Nos. 1545/Del/2015 and 2424/Del/2015 (AY 2010-11) ITA No. 1609/Del/2016 and 914/D…

ACIT Cir 4(2), Mumbai vs. Gupta Synthetics Ltd, Mumbai

In the result, the appeal filed by the revenue is treated as partly allowed for statistical purposes

ITA 1009/MUM/2011[2007-08]Status: DisposedITAT Mumbai09 Dec 2015AY 2007-08

Bench: S/Shri B.R.Baskaran & Shri Sandeep Gosainआयकर अपीऱ सं./I.T.A. No.1009/Mum/2011 (निर्धारण वर्ा / Assessment Year :2007-08) Asstt. Commissioner Of बिधम/ M/S Gupta Synthetics Ltd., Income Tax, 4(2), 326, Sardar Gruh Building, Vs. Room No.642, 6Th Floor,, 198, L T Road, Ayakar Bhavan, M K Road, Mumbai-400002 Mumbai-400020 स्थायी ऱेखा सं./ Pan : (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. स्थामी रेखा सं./जीआइआय सं./Pan. :Aaacg8559P

For Appellant: Ms.Anu Krishna AggarwalFor Respondent: Shri Satish R Mody

…ns relied upon by the assessee. 8. Before us, the ld.AR submitted that the view taken by the ld. CIT(A) is further supported by the following case law: i) Binani Cement Ltd V/s CIT (2015) 118 DTR 0061 (Cal);and ii) Commissioner of Income-tax V/s Nirmal Ltd ( 367 ITR 12 (Guj) = (2014) 52 taxmann.com 88(Guj) The ld. AR submitted that the Hon’ble Calcutta High Court in the case of Binani Cement Ltd (supra) has held that the expenditure incurred for preparation of feasibility report will be allowable as deduction even if the project is abandoned. 9. The ld. DR, on the contrary, placed reliance on the order of AO.…