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.

DCIT 9(2), Mumbai vs. Kryfs Power Components Ltd, Mumbai

ITA 9106/MUM/2010[2006-07]Status: DisposedITAT Mumbai04 Nov 2015AY 2006-07
For Appellant: Shri Yogesh TharFor Respondent: Shri R.A. Dhyani
Section 143(1)Section 147Section 148Section 254(1)Section 80I

…आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण, मुंबई अिधकरण मुंबई मुंबई ए खंडपीठ मुंबई खंडपीठ खंडपीठ खंडपीठ In the Income-tax Appellate Tribunal -“A”Bench Mumbai सव"ी राजे"",लेखा सद"य एवं अिमत शु"ल "याियक सद"य Before S.Sh.Rajendra,Accountant Member and Amit Shukla,Judicial member आयकर आयकर अपील अपील संसंसंसं /ITA No.9106/Mum/2010, िनधा"रण िनधा"रण वष" वष" /Assessment Year 2006-07 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" DCIT-9(2) M/s. Kryfs Power Components Ltd. 3rd Floor, Aza House, 24 Aayakar Bhavan Room No.218 2nd floor, M.K. Road Turner Road, Bandra (West) Mumbai-400 020. Vs. Mumb…

Commissioner of Income Tax

ITA/165/2001HC Delhi19 Jan 2015
Section 260ASection 32ASection 37(4)Section 80Section 80I

…puted that so far as the first limb i.e. interest received from customers on account of late payment beyond the credit period goes, the matter is covered against the revenue in the decisions of this Court reported as CIT V. Advance Detergents Ltd., (2011) 339 ITR 81 and CIT V. Jackson Engineers Ltd., (2012) 341 ITR 518. Accordingly, it is held in favour of the assessee that such interest received from customers due to late payment beyond credit period is permissible as a business income and entitled to benefit under section 80(I). As far as the second limb i.e. interest on FDR, bank guarante…