CIT v. Paras Oil Extraction Ltd.

230 ITR 266High Court1998#15374 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 341,001 Indian tax judgments — from 2020 to 2024.

Also reported as

96 Taxmann 234

Sections most often in play

Section 194A Section 194H Section 2(28A)Section 201(1)Section 201(1A)Section 250

Issues it is cited on

section 2(28a)section 133a(2a)section 80h section 194h section 80hhc interest under section 201(1a)section 80hh interest on securities section 194a section 201(1a)section 57 section 36(1)(iii)

Judgments citing CIT v. Paras Oil Extraction Ltd.

DCIT(OSD)(TDS)-2(3), Mumbai vs. Wockhardt Ltd., Mumbai

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

ITA 2633/MUM/2024[2015-16]Status: DisposedITAT Mumbai01 Aug 2024AY 2015-16

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh

Section 194ASection 194HSection 2Section 201Section 201(1)Section 222Section 271C

…IN THE INCOME TAX APPELLATE TRIBUNAL, “G” BENCH MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA. No. 2633/MUM/2024 (Assessment Year : 2015–16) Vs. Wockhardt Ltd, DCIT(OSD)(TDS)-2(3), Wockhardt Towers, 3 rd Floor, MTNL TE Bandra Kurla Building, Cumballa Hill, Complex, PedderRoad, Mumbai-400051. DrGopalraoDeshmukhMarg, Mumbai–400026 PAN/GIR No. AAACW2472M (अपीलाथ"/Applicant) (""यथ"/Respondent) Assessee by Shri Piyush Chhajed.AR Revenue by Shri Dr. Kishore Dhule.CIT. DR सुनवाई क" तार"ख/Date of Hearing 29.07.2024 घोषणा क" तार"ख/Date of Pronouncement 05.08.2024 ORDE…

DCIT (TDS)(OSD) - 2(3), Mumbai vs. M/S. Wockhardt Ltd., Mumbai

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

ITA 2131/MUM/2022[2014-15]Status: DisposedITAT Mumbai30 Dec 2022AY 2014-15

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2014-15 Dcit (Tds) (Osd)-2(3), M/S Wockhardt Ltd., Room No. 310, 3Rd Floor, Mtnl Wockhardt Towers, Bandra Building, Cumballa Hill, Vs. Kurla Complex, Mumbai-400026. Mumbai-400051. Pan No. Aaacw 2472 M Appellant Respondent : Assessee By Mr. Pranay Gandhi, Ar : Revenue By Mr. Byomakesh Pradipta Kumar Panda, Cit-Dr : Date Of Hearing 20/12/2022 : Date Of Pronouncement 30/12/2022

For Respondent: Assessee by Mr. Pranay Gandhi, AR

Section 194H

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G” MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2014-15 DCIT (TDS) (OSD)-2(3), M/s Wockhardt Ltd., Room No. 310, 3rd floor, MTNL Wockhardt Towers, Bandra Building, Cumballa Hill, Vs. Kurla Complex, Mumbai-400026. Mumbai-400051. PAN No. AAACW 2472 M Appellant Respondent : Assessee by Mr. Pranay Gandhi, AR : Revenue by Mr. Byomakesh Pradipta Kumar Panda, CIT-DR : Date of Hearing 20/12/2022 : Date of pronouncement 30/12/2022 ORDER PER OM PRAKASH KANT, AM The Revenue has preferred this appeal again…

DCIT (TDS)-2(3), Mumbai vs. Wockhardt Limited, Mumbai

Appeal is dismissed

ITA 2314/MUM/2022[2013-14]Status: DisposedITAT Mumbai20 Dec 2022AY 2013-14

Bench: Shri Kuldip Singh & Shri S. Rifaur Rahmanassessment Year: 2013-14

For Appellant: Shri Vallabh Gokhale, A.RFor Respondent: Shri Byomakesh Pradipta Kumar Panda, D.R

Section 133ASection 194ASection 194HSection 201Section 201(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “G”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER Assessment Year: 2013-14 DCIT (TDS)(OSD)-2(3), M/s. Wockhardt Ltd., Room No.310, Wockhardt Towers, 3rd Floor, Vs. Bandra Kurla Complex, MTNL Building, Mumbai – 400 051 Cumballa Hill, PAN: AAACW2472M Mumbai - 400026 (Appellant) (Respondent) Present for: Assessee by : Shri Vallabh Gokhale, A.R. Revenue by : Shri Byomakesh Pradipta Kumar Panda, D.R. Date of Hearing : 15 . 12 . 2022 Date of Pronouncement : 20 . 12 . 2022 O R D E R Per : Kuldip Singh, Judicial Mem…

JCIT (OSD) (TDS)-2(3). Mumbai, Mumbai vs. M/S Wockhardt Ltd, Mumbai

In the result, the appeal by the Revenue for the assessment year 2012–

ITA 894/MUM/2022[2011-12]Status: DisposedITAT Mumbai21 Nov 2022AY 2011-12

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri Pranay GandhiFor Respondent: Shri A.B. Koli

Section 133ASection 194ASection 194HSection 201Section 201(1)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No.894/Mum./2022 ITA No.893/Mum./2022 (Assessment Year : 2011–12) (Assessment Year : 2012–13) Jt. Commissioner of Income Tax (OSD) ……………. Appellant TDS, Circle–2(3), Mumbai v/s M/s. Wockhardt Limited Room no.310, 3rd Floor, MTNL Building …………….Respondent Cumballa Hill, Peddar Road Mumbai 400 026 PAN – AAACW2472M Assessee by : Shri Pranay Gandhi Revenue by : Shri A.B. Koli Date of Hearing – 01/09/2022 Date of Order – 21/11/2022 O R D E R PER SANDEEP SINGH…

JCIT (OSD) (TDS)-2(3), Mumbai. vs. M/S Wockhardt Ltd, Mumbai

In the result, the appeal by the Revenue for the assessment year 2012–

ITA 893/MUM/2022[2012-13]Status: DisposedITAT Mumbai21 Nov 2022AY 2012-13

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri Pranay GandhiFor Respondent: Shri A.B. Koli

Section 133ASection 194ASection 194HSection 201Section 201(1)Section 250

DCIT (TDS)-2(3), Mumbai vs. Wockhardt Limited, Mumbai

Accordingly, the grounds (c) raised by the revenue are dismissed

ITA 6803/MUM/2018[2010-11]Status: DisposedITAT Mumbai11 Dec 2020AY 2010-11

Bench: Shri S. Rifaur Rahman, Am & Shri Ram Lal Negi, Jm आयकरअपीलसं./ I.T.A. No. 6803/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2010-11) Dcit (Tds)-2(3), M/S Wockhardt Ltd. 6Th Floor, Wockhardt Smt. K. G. Mittal बिधम/ Ayurvedic Hospital Bldg. Tower, G Block, Bandra Vs. Room No. 718, 7Th Floor, Kurla Complex, Bandra, Charni Road (W), Mumbai-400 051 Mumbai-400 002 स्थायीलेखासं./जीआइआरसं./ Pan No. Aaacw2472M (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : & C.O. No. 51/Mum/2020 (निर्धारणवर्ा / Assessment Year: 2010-11) M/S Wockhardt Ltd. Dcit (Tds)-2(3), 6Th Floor, Wockhardt Smt. K. G. Mittal बिधम/ Tower, G Block, Bandra Ayurvedic Hospital Bldg. Vs. Room No. 718, 7Th Floor, Kurla Complex, Bandra, Charni Road (W), Mumbai-400 051 Mumbai-400 002 (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Shri Anand Mohan, Dr प्रत्यथीकीओरसे/Respondentby : Shri Kirit Kamdar, Ar सुनवाईकीतारीख/ : 02.11.2020 Date Of Hearing घोषणाकीतारीख / : 11.12.2020 Date Of Pronouncement

For Appellant: Shri Anand Mohan, DRFor Respondent: Shri Kirit Kamdar, AR

Section 133ASection 194ASection 194HSection 201(1)

…ers could clearly be termed to be an income derived from Industrial Undertaking. It was observed that such an interest is distinct from interest income which is being received from Fixed Deposit. Case laws referred were CIT v. Paras Oil Extraction Ltd. [1998] 230 ITR 266/96 Taxman 234 (MP) and Pandian Chemicals Ltd. v. CIT [2003] 262 ITR 278/ 129 Taxman 539 (SC). 11. An another interesting feature involved to resolve this controversy is that the revenue otherwise cannot allow the claim of payment under section 36(1)(iii) of the Act because as per this section, the deduction is provided in respect of the amount o…