CIT v. Pioneer Trading Co. P. Ltd.

70 ITR 347High Court1968#21286 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2019.

Judgments citing CIT v. Pioneer Trading Co. P. Ltd.

DCIT, Cir-12(2), Kolkata vs. M/S. Tega Industries Ltd., Kolkata

In the result, the Cross Objections filed by the assessee (in C

ITA 1049/KOL/2017[2011-12]Status: DisposedITAT Kolkata31 Oct 2019AY 2011-12

Bench: Shri A.T. Varkey, Jm & Dr. A. L.Saini, Am

For Appellant: DR. P. K. Srihari, CIT-DRFor Respondent: Shri Chidambaram, Advocate
Section 14ASection 92C

…e parties, i. e., the rights of the parties are adjusted in the manner contemplated by the parties at the time of bargain. After considering several other decisions this view was expressed by this court in the case of CIT v. Pioneer Trading Co. P. Ltd. [1968] 70 ITR 347, where this court held that a claim based on breach of contract did not come within the meaning of " contract settled " as used in Expln. 2 of s, 24(1) of the Indian I.T. Act, 1922. "Contract settled" meant contract settled before breach. After breach of contract, the cause of action was no longer based on the contract itself but on its breach. Wh…

DCIT, Cir-12(2), Kolkata vs. M/S. Tega Industries Ltd., Kolkata

In the result, the Cross Objections filed by the assessee (in C

ITA 1048/KOL/2017[2010-11]Status: DisposedITAT Kolkata31 Oct 2019AY 2010-11

Bench: Shri A.T. Varkey, Jm & Dr. A. L.Saini, Am

For Appellant: DR. P. K. Srihari, CIT-DRFor Respondent: Shri Chidambaram, Advocate
Section 14ASection 92C

…e parties, i. e., the rights of the parties are adjusted in the manner contemplated by the parties at the time of bargain. After considering several other decisions this view was expressed by this court in the case of CIT v. Pioneer Trading Co. P. Ltd. [1968] 70 ITR 347, where this court held that a claim based on breach of contract did not come within the meaning of " contract settled " as used in Expln. 2 of s, 24(1) of the Indian I.T. Act, 1922. "Contract settled" meant contract settled before breach. After breach of contract, the cause of action was no longer based on the contract itself but on its breach. Wh…

DCIT, Cir-12(2), Kolkata vs. M/S. Tega Industries Ltd., Kolkata

In the result, the Cross Objections filed by the assessee (in C

ITA 1047/KOL/2017[2009-10]Status: DisposedITAT Kolkata31 Oct 2019AY 2009-10

Bench: Shri A.T. Varkey, Jm & Dr. A. L.Saini, Am

For Appellant: DR. P. K. Srihari, CIT-DRFor Respondent: Shri Chidambaram, Advocate
Section 14ASection 92C

…e parties, i. e., the rights of the parties are adjusted in the manner contemplated by the parties at the time of bargain. After considering several other decisions this view was expressed by this court in the case of CIT v. Pioneer Trading Co. P. Ltd. [1968] 70 ITR 347, where this court held that a claim based on breach of contract did not come within the meaning of " contract settled " as used in Expln. 2 of s, 24(1) of the Indian I.T. Act, 1922. "Contract settled" meant contract settled before breach. After breach of contract, the cause of action was no longer based on the contract itself but on its breach. Wh…

DCIT, New Delhi vs. M/S Orient Overseas Pvt.Ltd., Delhi

In the result, the appeal is dismissed

ITA 1552/DEL/2013[1996-97]Status: DisposedITAT Delhi09 Aug 2016AY 1996-97

Bench: Shri H.S. Sidhu & Shri Anadi N. Mishraa.Y. : 2008-09 Dcit, Circle 8(1), M/S Orient Overseas Pvt. Ltd. Plot No. 9, 1St Floor, Sagar New Delhi Vs. Room No. 163, Cr Building, Centre, Gujrawalan Town, Ip Estate, New Delhi Delhi – 110 009 (Pan:Aaaco00036B) (Appellant) (Respondent)

For Appellant: Sh. Rakesh Gupta, Adv. & Sh. SomilFor Respondent: Sh. UC Dubey, Sr. DR
Section 142(1)Section 143(1)Section 143(2)Section 143(3)

…h, and not cases where there is a breach followed by a settlement of the quantum of the damages, we answer the question referred to us in the affirmative and against the department. 6.6 Hon'ble Calcutta High Court in CIT vs. Pioneer Trading Company (P) Ltd. 70 ITR 347 (Cal) have held that the meaning of a contract settled otherwise than by actual delivery or transfer of the commodity means a contract settled before a breach takes place. If there is a settlement after the 12 breach, it is a case of settling the quantum of damages. 6.7 In the case of CIT vs. Indian Commercial Co. (P) Ltd. 106 ITR 465 (Born), t…

CIT v. Pioneer Trading Co. P. Ltd. (70 ITR 347) — Cited in 4 Judgments | BharatTax