CIT v. Ponni Sugars & Chemicals Ltd.

260 ITR 605High Court2003#2390 most cited

What is CIT v. Ponni Sugars & Chemicals Ltd. authority for?

The purpose and object of a subsidy scheme are of primary importance in determining its nature (capital or revenue), overriding the timing of its receipt or the source of the funds.

48

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2017 to 2025.

Also referred to as

CIT v. Ponni Sugars & Chemicals Ltd. · Ponni Sugars · subsidy income · capital receipt · revenue receipt · object of subsidy · purpose of subsidy · Section 28 Income Tax Act · Section 41(1) Income Tax Act · subsidy classification

Sections most often in play

Section 1961Section 14ASection 2(24) of the Income Tax ActSection 28 of the Income Tax ActSection 41(1)Section 41(1) of the Income Tax Act

Issues it is cited on

section 41(1)(a)casus omissussection 32(1)(iia)section 38initial assessment yearsection 43(1)written down valuecommercial rightssection 80hdividend distribution taxsection 41(1)additional depreciation

Judgments citing CIT v. Ponni Sugars & Chemicals Ltd.

The DCIT, Circle-4, Ahmedabad vs. M/S. Genus Electrotech Ltd., Ahmedabad

In the result, the appeals of the Revenue and assessee are decided as under:

ITA 99/AHD/2014[2007-08]Status: DisposedITAT Delhi17 Feb 2021AY 2007-08

Bench: Shri O.P. Kant & Shri K.N. Chary[Through Video Conferencing]

…Ltd. 88 ITD 273 (Mum (SB) decided by Hon'ble Special Bench of Mumbai as relied on by the Learned Counsel. The Hon'ble Special Bench of Mumbai Tribunal had relied on the decision of the Hon’ble Madras High Court in the case of vs. Ponni Sugars & Chemicals Ltd. 260 ITR 605 (Mad). This decision was latter on affirmed by the Hon'ble Supreme Court in the case of CIT vs. Ponni Sugars & Chemicals Ltd. 306 ITR 392 (SC) by holding that the character of the receipts in the hands of the assessee have to be determined with respect to the purpose for which the subsidy is given. In other words, in such cases one has to apply t…

The DCIT, Circle-4, Ahmedabad vs. Genus Electrotech Ltd., Ahmedabad

In the result, the appeals of the Revenue and assessee are decided as under:

ITA 1899/AHD/2014[2010-11]Status: DisposedITAT Delhi17 Feb 2021AY 2010-11

Bench: Shri O.P. Kant & Shri K.N. Chary[Through Video Conferencing]

…Ltd. 88 ITD 273 (Mum (SB) decided by Hon'ble Special Bench of Mumbai as relied on by the Learned Counsel. The Hon'ble Special Bench of Mumbai Tribunal had relied on the decision of the Hon’ble Madras High Court in the case of vs. Ponni Sugars & Chemicals Ltd. 260 ITR 605 (Mad). This decision was latter on affirmed by the Hon'ble Supreme Court in the case of CIT vs. Ponni Sugars & Chemicals Ltd. 306 ITR 392 (SC) by holding that the character of the receipts in the hands of the assessee have to be determined with respect to the purpose for which the subsidy is given. In other words, in such cases one has to apply t…

The DCIT, Circle-4, Ahmedabad vs. Genus Electrotech Ltd., Ahmedabad

In the result, the appeals of the Revenue and assessee are decided as under:

ITA 1898/AHD/2014[2009-10]Status: DisposedITAT Delhi17 Feb 2021AY 2009-10

Bench: Shri O.P. Kant & Shri K.N. Chary[Through Video Conferencing]

…Ltd. 88 ITD 273 (Mum (SB) decided by Hon'ble Special Bench of Mumbai as relied on by the Learned Counsel. The Hon'ble Special Bench of Mumbai Tribunal had relied on the decision of the Hon’ble Madras High Court in the case of vs. Ponni Sugars & Chemicals Ltd. 260 ITR 605 (Mad). This decision was latter on affirmed by the Hon'ble Supreme Court in the case of CIT vs. Ponni Sugars & Chemicals Ltd. 306 ITR 392 (SC) by holding that the character of the receipts in the hands of the assessee have to be determined with respect to the purpose for which the subsidy is given. In other words, in such cases one has to apply t…

M/S. Genus Electrotech Ltd., Ahmedabad vs. The ACIT, Circle-4, Ahmedabad

In the result, the appeals of the Revenue and assessee are decided as under:

ITA 1763/AHD/2014[2009-10]Status: DisposedITAT Delhi17 Feb 2021AY 2009-10

Bench: Shri O.P. Kant & Shri K.N. Chary[Through Video Conferencing]

…Ltd. 88 ITD 273 (Mum (SB) decided by Hon'ble Special Bench of Mumbai as relied on by the Learned Counsel. The Hon'ble Special Bench of Mumbai Tribunal had relied on the decision of the Hon’ble Madras High Court in the case of vs. Ponni Sugars & Chemicals Ltd. 260 ITR 605 (Mad). This decision was latter on affirmed by the Hon'ble Supreme Court in the case of CIT vs. Ponni Sugars & Chemicals Ltd. 306 ITR 392 (SC) by holding that the character of the receipts in the hands of the assessee have to be determined with respect to the purpose for which the subsidy is given. In other words, in such cases one has to apply t…

The DCIT, Circle-4, Ahmedabad vs. M/S. Genus Electrotech Ltd., Ahmedabad

In the result, the appeals of the Revenue and assessee are decided as under:

ITA 100/AHD/2014[2008-09]Status: DisposedITAT Delhi17 Feb 2021AY 2008-09

Bench: Shri O.P. Kant & Shri K.N. Chary[Through Video Conferencing]

…Ltd. 88 ITD 273 (Mum (SB) decided by Hon'ble Special Bench of Mumbai as relied on by the Learned Counsel. The Hon'ble Special Bench of Mumbai Tribunal had relied on the decision of the Hon’ble Madras High Court in the case of vs. Ponni Sugars & Chemicals Ltd. 260 ITR 605 (Mad). This decision was latter on affirmed by the Hon'ble Supreme Court in the case of CIT vs. Ponni Sugars & Chemicals Ltd. 306 ITR 392 (SC) by holding that the character of the receipts in the hands of the assessee have to be determined with respect to the purpose for which the subsidy is given. In other words, in such cases one has to apply t…

M/S. Genus Electrotech Ltd., Ahmedabad vs. The Dy.CIT, Circle-4, Ahmedabad

In the result, the appeals of the Revenue and assessee are decided as under:

ITA 2831/AHD/2013[2008-09]Status: DisposedITAT Delhi17 Feb 2021AY 2008-09

Bench: Shri O.P. Kant & Shri K.N. Chary[Through Video Conferencing]

…Ltd. 88 ITD 273 (Mum (SB) decided by Hon'ble Special Bench of Mumbai as relied on by the Learned Counsel. The Hon'ble Special Bench of Mumbai Tribunal had relied on the decision of the Hon’ble Madras High Court in the case of vs. Ponni Sugars & Chemicals Ltd. 260 ITR 605 (Mad). This decision was latter on affirmed by the Hon'ble Supreme Court in the case of CIT vs. Ponni Sugars & Chemicals Ltd. 306 ITR 392 (SC) by holding that the character of the receipts in the hands of the assessee have to be determined with respect to the purpose for which the subsidy is given. In other words, in such cases one has to apply t…

M/S. Genus Electrotech Ltd., Ahmedabad vs. The Dy.CIT, Circle-4, Ahmedabad

In the result, the appeals of the Revenue and assessee are decided as under:

ITA 2830/AHD/2013[2007-08]Status: DisposedITAT Delhi17 Feb 2021AY 2007-08

Bench: Shri O.P. Kant & Shri K.N. Chary[Through Video Conferencing]

…Ltd. 88 ITD 273 (Mum (SB) decided by Hon'ble Special Bench of Mumbai as relied on by the Learned Counsel. The Hon'ble Special Bench of Mumbai Tribunal had relied on the decision of the Hon’ble Madras High Court in the case of vs. Ponni Sugars & Chemicals Ltd. 260 ITR 605 (Mad). This decision was latter on affirmed by the Hon'ble Supreme Court in the case of CIT vs. Ponni Sugars & Chemicals Ltd. 306 ITR 392 (SC) by holding that the character of the receipts in the hands of the assessee have to be determined with respect to the purpose for which the subsidy is given. In other words, in such cases one has to apply t…

The Bombay Dyeing & Mfg. Co. Ltd, Mumbai vs. DCIT RG 2(1)(1), Mumbai

ITA 1716/MUM/2017[2012-13]Status: DisposedITAT Mumbai27 Oct 2017AY 2012-13

Bench: Sri Mahavir Singh, Jm & Sri N K Pradhan, Am The Bombay Dyeing & Mfg. Co. Dy. Commissioner Of Limited Income Tax, Range- Neville House, J.N. Heradia Marg, 2(1)(1), Mumbai Vs. Ballard Estate, Mumbai-400 001 Room No.561, Aayakar Pan No.Aaact2328K Bhavan, Mumbai-400 020

Section 144C(5)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI N K PRADHAN, AM The Bombay Dyeing & Mfg. Co. Dy. Commissioner of Limited Income Tax, Range- Neville House, J.N. Heradia Marg, 2(1)(1), Mumbai Vs. Ballard Estate, Mumbai-400 001 Room No.561, Aayakar PAN No.AAACT2328K Bhavan, Mumbai-400 020 Appellant .. Respondent Assessee by .. Shri Yogesh A. Thar & Shri D Doshi Ms. Rity Punjabi Ms. Ayushi Madani, Anrs Revenue by .. Shri Jayant Kumar, DR Date of hearing .. 18-08-2017 Date of pronouncement .. 27-10-2017 O R D E R PER MAHAVIR SINGH, JM: This appeal by the assessee is aris…