CIT v. Ponni Sugars & Chemicals Ltd.

306 ITR 392Supreme Court of India2008#107 most cited

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

The "Purpose Test" determines whether an incentive or subsidy is a capital or revenue receipt for income tax purposes. If the incentive's purpose is to enable an assessee to set up a new industry or make investments in capital assets, it is a capital receipt and not taxable.

577

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2007 to 2026.

Also referred to as

CIT v. Ponni Sugars & Chemicals Ltd. · 306 ITR 392 · capital receipt vs revenue receipt · subsidy taxability · incentive scheme purpose test · sales tax incentive capital receipt · excise duty exemption capital receipt · section 2(24)(xviii) · section 43(1) · investment incentive taxability · purpose test subsidy · nature of receipt

Also reported as

174 Taxmann 87219 CTR 105

Sections most often in play

Section 115JB Section 143(3)Section 14A Section 2(24)(xviii)Section 37(1)Section 80P(2)(d)Section 80P(4)Section 43(1)

Read the full judgment

Issues it is cited on

section 2(24)(xviii)section 43(1)initial assessment year section 80hhc section 80hh section 2(24)additional depreciation book profits written down value block of assets section 32(1)liable to tax

Judgments citing CIT v. Ponni Sugars & Chemicals Ltd.

DCIT Central Circle-31, New Delhi vs. Rswm Ltd, Kharigram

In the result, the Appeals filed by the assessee in ITA No

ITA 1929/DEL/2020[2015-16]Status: DisposedITAT Delhi31 Jan 2024AY 2015-16

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.Ita Nos.145 & 146 /Del/2021 (Assessment Years 2014-15 & 2015-16)

Section 115JSection 14ASection 14A(2)Section 37(1)Section 40Section 69

…of the assessee had to be determined with respect to the purpose for which subsidy is given by applying the purpose test, as held in Sahney Steel & Press Works Ltd. itself and reiterated in later judgment in CIT v. Ponni Sugars & Chemicals Ltd. & Ors. (2008) 306 ITR 392, referred to in the impugned order of the Tribunal." 5. This Court notices that the Punjab and Haryana High Court took into account the previous binding ruling of the Supreme Court in CIT v. Ponni Sugars & Chemicals Ltd. [2008] 174 Taxman 87/306 ITR 392 and Sahney Steel & Press Works Ltd. v. CIT [1997] 94 Taxman 368/228 ITR 253. In these circums…

DCIT Central Circle-31, New Delhi vs. Rswm Ltd, Kharigram

In the result, the Appeals filed by the assessee in ITA No

ITA 1928/DEL/2020[2014-15]Status: DisposedITAT Delhi31 Jan 2024AY 2014-15

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.Ita Nos.145 & 146 /Del/2021 (Assessment Years 2014-15 & 2015-16)

Section 115JSection 14ASection 14A(2)Section 37(1)Section 40Section 69

…of the assessee had to be determined with respect to the purpose for which subsidy is given by applying the purpose test, as held in Sahney Steel & Press Works Ltd. itself and reiterated in later judgment in CIT v. Ponni Sugars & Chemicals Ltd. & Ors. (2008) 306 ITR 392, referred to in the impugned order of the Tribunal." 5. This Court notices that the Punjab and Haryana High Court took into account the previous binding ruling of the Supreme Court in CIT v. Ponni Sugars & Chemicals Ltd. [2008] 174 Taxman 87/306 ITR 392 and Sahney Steel & Press Works Ltd. v. CIT [1997] 94 Taxman 368/228 ITR 253. In these circums…

Commissioner of Income Tax-IV vs. Mis Indo Rama Textiles Ltd

The appeals are disposed of in the aforesaid terms

ITA/395/2014HC Delhi23 Jan 2024

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…render the receipt as one on capital account. 11.6 In support of his submission, Mr Vohra relied upon the following judgments: (i) Sahney Steel and Press Works Ltd. v. CIT [1997] 228 ITR 253 (SC) (ii) CIT v. Ponni Sugars and Chemicals Ltd. [2008] 306 ITR 392 (SC) (iii) CIT v. Chaphalkar Brothers [2018] 400 ITR 279 (SC) (iv) Shree Balaji Alloys v. CIT [2011] 333 ITR 335 (J&K) [approved in [2016] 287 CTR 459 (SC)] (v) DCIT v. Munjal Auto Industries Ltd. [2013] 218 Taxman 135 (Guj) [approved by Hon’ble Apex Court vide order dated 08.05.2018] (vi) CIT v. Maruti Suzuki India Ltd. ITA No.1…

Commissioner of Income Tax-IV vs. Mis Indo Rama Synthetics Ltd

The appeals are disposed of in the aforesaid terms

ITA/396/2014HC Delhi23 Jan 2024

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…render the receipt as one on capital account. 11.6 In support of his submission, Mr Vohra relied upon the following judgments: (i) Sahney Steel and Press Works Ltd. v. CIT [1997] 228 ITR 253 (SC) (ii) CIT v. Ponni Sugars and Chemicals Ltd. [2008] 306 ITR 392 (SC) (iii) CIT v. Chaphalkar Brothers [2018] 400 ITR 279 (SC) (iv) Shree Balaji Alloys v. CIT [2011] 333 ITR 335 (J&K) [approved in [2016] 287 CTR 459 (SC)] (v) DCIT v. Munjal Auto Industries Ltd. [2013] 218 Taxman 135 (Guj) [approved by Hon’ble Apex Court vide order dated 08.05.2018] (vi) CIT v. Maruti Suzuki India Ltd. ITA No.1…

Commissioner of Income Tax-IV vs. Mis Indo Rama Textiles Ltd

The appeals are disposed of in the aforesaid terms

ITA/392/2014HC Delhi23 Jan 2024

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…render the receipt as one on capital account. 11.6 In support of his submission, Mr Vohra relied upon the following judgments: (i) Sahney Steel and Press Works Ltd. v. CIT [1997] 228 ITR 253 (SC) (ii) CIT v. Ponni Sugars and Chemicals Ltd. [2008] 306 ITR 392 (SC) (iii) CIT v. Chaphalkar Brothers [2018] 400 ITR 279 (SC) (iv) Shree Balaji Alloys v. CIT [2011] 333 ITR 335 (J&K) [approved in [2016] 287 CTR 459 (SC)] (v) DCIT v. Munjal Auto Industries Ltd. [2013] 218 Taxman 135 (Guj) [approved by Hon’ble Apex Court vide order dated 08.05.2018] (vi) CIT v. Maruti Suzuki India Ltd. ITA No.1…

Commissioner of Income Tax-IV vs. Mis Indo Rama Synthetics Ltd

The appeals are disposed of in the aforesaid terms

ITA/397/2014HC Delhi23 Jan 2024

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…render the receipt as one on capital account. 11.6 In support of his submission, Mr Vohra relied upon the following judgments: (i) Sahney Steel and Press Works Ltd. v. CIT [1997] 228 ITR 253 (SC) (ii) CIT v. Ponni Sugars and Chemicals Ltd. [2008] 306 ITR 392 (SC) (iii) CIT v. Chaphalkar Brothers [2018] 400 ITR 279 (SC) (iv) Shree Balaji Alloys v. CIT [2011] 333 ITR 335 (J&K) [approved in [2016] 287 CTR 459 (SC)] (v) DCIT v. Munjal Auto Industries Ltd. [2013] 218 Taxman 135 (Guj) [approved by Hon’ble Apex Court vide order dated 08.05.2018] (vi) CIT v. Maruti Suzuki India Ltd. ITA No.1…

Commissioner of Income Tax-IV vs. Mis Indo Rama Synthetics (I) Ltd

The appeals are disposed of in the aforesaid terms

ITA/394/2014HC Delhi23 Jan 2024

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…render the receipt as one on capital account. 11.6 In support of his submission, Mr Vohra relied upon the following judgments: (i) Sahney Steel and Press Works Ltd. v. CIT [1997] 228 ITR 253 (SC) (ii) CIT v. Ponni Sugars and Chemicals Ltd. [2008] 306 ITR 392 (SC) (iii) CIT v. Chaphalkar Brothers [2018] 400 ITR 279 (SC) (iv) Shree Balaji Alloys v. CIT [2011] 333 ITR 335 (J&K) [approved in [2016] 287 CTR 459 (SC)] (v) DCIT v. Munjal Auto Industries Ltd. [2013] 218 Taxman 135 (Guj) [approved by Hon’ble Apex Court vide order dated 08.05.2018] (vi) CIT v. Maruti Suzuki India Ltd. ITA No.1…

Cornmisstorrer of Income Tax-IV vs. Mis Indo Rama Synthetics Ltd

The appeals are disposed of in the aforesaid terms

ITA/398/2014HC Delhi23 Jan 2024

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…render the receipt as one on capital account. 11.6 In support of his submission, Mr Vohra relied upon the following judgments: (i) Sahney Steel and Press Works Ltd. v. CIT [1997] 228 ITR 253 (SC) (ii) CIT v. Ponni Sugars and Chemicals Ltd. [2008] 306 ITR 392 (SC) (iii) CIT v. Chaphalkar Brothers [2018] 400 ITR 279 (SC) (iv) Shree Balaji Alloys v. CIT [2011] 333 ITR 335 (J&K) [approved in [2016] 287 CTR 459 (SC)] (v) DCIT v. Munjal Auto Industries Ltd. [2013] 218 Taxman 135 (Guj) [approved by Hon’ble Apex Court vide order dated 08.05.2018] (vi) CIT v. Maruti Suzuki India Ltd. ITA No.1…

D.C.I.T., Circle-6(1), Kolkata vs. M/S Birla Corporation Ltd., Kolkata

In the result, the appeal of the revenue as well as cross-objection of the assessee are partly allowed

ITA 1964/KOL/2019[2015-16]Status: DisposedITAT Kolkata16 Jan 2024AY 2015-16

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.1964/Kol/2019 Assessment Year: 2015-16 Dcit, Circle-6(1), Kolkata…………….......................…...……………....Appellant Vs. M/S Birla Corporation Ltd…………...........…..........................…..…..... Respondent Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] C.O. 39/Kol/2019 (A/O I.T.A. No.1964/Kol/2019) Assessment Year: 2015-16 M/S Birla Corporation Ltd…………...........….....................…..…..... Cross-Objector Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] Vs Dcit, Circle-6(1), Kolkata…………….......................…...……………....Respondent Appearances By: Shri Abhijit Kundu, Cit-Dr, Advocate, Appeared On Behalf Of The Department. Shri J. P. Khaitan, Sr. Counsel, Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : October 18, 2023 Date Of Pronouncing The Order : January 16, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal By The Revenue & The Corresponding Cross Objections By The Assessee Have Been Preferred Against The Order Dated 30.05.2019 Of The Commissioner Of Income Tax (Appeals)-22, Kolkata [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). First, We Take Up Revenue’S Appeal Ita No.1964/Kol/2019. I.T.A. No.1964/Kol/2019 & C.O. 39/Kol/2019 M/S Birla Corporation Ltd

Section 115JSection 14ASection 250Section 80I

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘सी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOLKATA "ी संजय गग", "या"यक सद"य एवं "ी "गर"श अ"वाल, लेखा सद"य के सम" Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member I.T.A. No.1964/Kol/2019 Assessment Year: 2015-16 DCIT, Circle-6(1), Kolkata…………….......................…...……………....Appellant vs. M/s Birla Corporation Ltd…………...........…..........................…..…..... Respondent Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [PAN: AABCB2075J] C.O. 39/Kol/2019 (A/o I.T.A. No.1964/Kol/2019) Assessment Year: 2015-16…

ACIT, Ncc-8, Chennai vs. Saint Gobain India Pvt Ltd, Chennai

In the result, the appeal in ITA No

ITA 585/CHNY/2021[2011-12]Status: DisposedITAT Chennai20 Dec 2023AY 2011-12

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.581 & 585/Chny/2021 िनधा"रण वष"/Assessment Year: 2011-12 The Deputy Commissioner Of Vs. M/S. Saint-Gobain India Pvt. Ltd. Income Tax, Non Corporate Circle 8, [Formerly Known As M/S. Saint-Gobain Room No. 507, 5Th Floor, Annexe Glass India Ltd.], 18/3, Sigapi Achi Building, 7Th Floor, Rukmini Lakshmipathi Building, No. 121, M.G. Road, Chennai -600 034. Road, Egmore, Chennai 600 008. [Pan:Aabcs4338M] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By Shri Ar V Sreenivasan, Addl. Cit : ""थ" की ओर से/Respondent By Shri R. Vijayaragahavan, Advocate & : Shri Saroj Kumar Parida, Advocate सुनवाई की तारीख/ Date Of Hearing 11.12.2023 : घोषणा की तारीख /Date Of Pronouncement : 20.12.2023 आदेश /O R D E R Per V. Durga Rao: The Appeal In Ita No. 581/Chny/2021 Filed By The Revenue Is Directed Against The Assessment Order Passed Under Section 143(3) R.W.S. 92Ca Of The Income Tax Act, 1961 [“Act” In Short] Dated 28.02.2015 For The Assessment Year 2011-12 & The Other Appeal In Ita No. 585/Chny/2021 Is Directed Against The Order Of The Ld. Commissioner Of 2

Section 143(3)Section 40

…s’ funds. The subsidy is not earned but represents incentive provided by the Government and hence it is inappropriate to treat is as revenue income. 4.8 At the outset we wish to submit that the Supreme Court in the case of CIT vs. Ponni Sugars & Chemicals Ltd 306 ITR 392 (SC), has held that where the scheme in question was linked directly to the setting up of a new unit or the expansion of an existing unit. In the above case, the Apex court observed that: “the source of payment or the form in which it the subsidy is paid or the mechanism through which it is paid is immaterial and that what is relevant is the purp…

ACIT, Ncc-8, Chennai vs. Saint Gobain India P Ltd, Chennai

In the result, the appeal in ITA No

ITA 581/CHNY/2021[2011-12]Status: DisposedITAT Chennai20 Dec 2023AY 2011-12

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.581 & 585/Chny/2021 िनधा"रण वष"/Assessment Year: 2011-12 The Deputy Commissioner Of Vs. M/S. Saint-Gobain India Pvt. Ltd. Income Tax, Non Corporate Circle 8, [Formerly Known As M/S. Saint-Gobain Room No. 507, 5Th Floor, Annexe Glass India Ltd.], 18/3, Sigapi Achi Building, 7Th Floor, Rukmini Lakshmipathi Building, No. 121, M.G. Road, Chennai -600 034. Road, Egmore, Chennai 600 008. [Pan:Aabcs4338M] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By Shri Ar V Sreenivasan, Addl. Cit : ""थ" की ओर से/Respondent By Shri R. Vijayaragahavan, Advocate & : Shri Saroj Kumar Parida, Advocate सुनवाई की तारीख/ Date Of Hearing 11.12.2023 : घोषणा की तारीख /Date Of Pronouncement : 20.12.2023 आदेश /O R D E R Per V. Durga Rao: The Appeal In Ita No. 581/Chny/2021 Filed By The Revenue Is Directed Against The Assessment Order Passed Under Section 143(3) R.W.S. 92Ca Of The Income Tax Act, 1961 [“Act” In Short] Dated 28.02.2015 For The Assessment Year 2011-12 & The Other Appeal In Ita No. 585/Chny/2021 Is Directed Against The Order Of The Ld. Commissioner Of 2

Section 143(3)Section 40

…s’ funds. The subsidy is not earned but represents incentive provided by the Government and hence it is inappropriate to treat is as revenue income. 4.8 At the outset we wish to submit that the Supreme Court in the case of CIT vs. Ponni Sugars & Chemicals Ltd 306 ITR 392 (SC), has held that where the scheme in question was linked directly to the setting up of a new unit or the expansion of an existing unit. In the above case, the Apex court observed that: “the source of payment or the form in which it the subsidy is paid or the mechanism through which it is paid is immaterial and that what is relevant is the purp…

M/S M.B.Industries P Ltd, Indore vs. The ACIT 3 (1), Indore

In the result, appeal of the assessee is partly allowed

ITA 241/IND/2023[2012-13]Status: DisposedITAT Indore19 Dec 2023AY 2012-13

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. M.B Industries Private Acit 3(1) Ltd. Indore Plot No.27 & 33, Sector-A, Sanwer Road, Vs. Industrial Area, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Achpp2073R Assessee By Shri A.K. Garg & Arpit Gaur, Ars Revenue By Shri Harshit Bari, Sr. Dr Date Of Hearing 31.10.2023 Date Of Pronouncement 19.12.2023

…ng the first installment of the total subsidy of Rs.50,00,000/- as that of revenue in the nature, without considering the settled position of the law as propounded by the Hon'ble Supreme Court in the case of CIT vs. Ponni Sugars & Chemicals Ltd. & Ors. (2008) 306 ITR 392 (SC). 3. That, the learned CIT(A) grossly erred, both on facts and in law, in confirming the addition of Rs.12,991/- in the appellant's income, by making disallowance u/s. 14A of the Income-Tax Act, 1961 out of the interest claimed by the appellant..” 2. Ground no.1 & 2 are regarding the addition made by the AO on account of grant-in-aid of Rs.25…

Commissioner of Income Tax, Kolkata-II, Kolkata vs. M/S. Birla Corporation Ltd

ITA/158/2010HC Calcutta18 Dec 2023

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

…(Appeals) and the Tribunal lawfully upheld the claim of the assessee. 5 Therefore, it requires no interference. Reliance is placed upon the judgment of the Hon’ble Supreme Court in Commissioner of Income Tax Vs. Ponni Sugars and Chemicals Ltd. [2008] 306 ITR 392 (SC), Commissioner of Income Tax Vs. Chaphalkar Brothers [2018] 400 ITR 279 (SC), Sahney Steel and Press Works Limited and Others Vs. Commissioner of Income Tax [1997] 228 ITR 253 (SC), Commissioner of Trade Tax, U.P. and Anr. Vs. Kajaria Ceramics Ltd. (2005) 11 SCC 149 (paras 32, 36 and 37), Shri Ambica Mills Ltd. Vs. The Textile Labour As…

ACIT 1(1), Mumbai vs. Blue Star Ltd, Mumbai

In the result, the appeal filed by the assessee is partly allowed and the appeal filed

ITA 5550/MUM/2011[2006-07]Status: DisposedITAT Mumbai30 Nov 2023AY 2006-07

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Blue Star Ltd. The Addl. Cit, Range 1(1), Kasturi Building, Mohan T Advani Aaykar Bhavan, Mumbai Vs. Chowk, Jamshedji Tata Road, Mumbai-400 020 Pan/Gir No. Aaacb 4487 D (Assessee) (Revenue) : The Addl. Cit, Range 1(1), Blue Star Ltd. Aaykar Bhavan, Mumbai Kasturi Building, Mohan T Advani Vs. Chowk, Jamshedji Tata Road, Mumbai-400 020 Pan/Gir No. Aaacb 4487 D (Revenue) : (Assessee)

For Appellant: Shri Niraj Sheth

Section 115Section 145ASection 250Section 40Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS. KAVITHA RAJAGOPAL, JM Blue Star Ltd. The Addl. CIT, Range 1(1), Kasturi Building, Mohan T Advani Aaykar Bhavan, Mumbai Vs. Chowk, Jamshedji Tata Road, Mumbai-400 020 PAN/GIR No. AAACB 4487 D (Assessee) (Revenue) : The Addl. CIT, Range 1(1), Blue Star Ltd. Aaykar Bhavan, Mumbai Kasturi Building, Mohan T Advani Vs. Chowk, Jamshedji Tata Road, Mumbai-400 020 PAN/GIR No. AAACB 4487 D (Revenue) : (Assessee) Assessee by : Shri Niraj Sheth : Shri S Srinivasu Revenue by Date of Hearing : 04.09.2023 Date of Pronouncement :…

Blue Star Ltd, Mumbai vs. Addl CIT RG 1(1), Mumbai

In the result, the appeal filed by the assessee is partly allowed and the appeal filed

ITA 4792/MUM/2011[2006-07]Status: DisposedITAT Mumbai30 Nov 2023AY 2006-07

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Blue Star Ltd. The Addl. Cit, Range 1(1), Kasturi Building, Mohan T Advani Aaykar Bhavan, Mumbai Vs. Chowk, Jamshedji Tata Road, Mumbai-400 020 Pan/Gir No. Aaacb 4487 D (Assessee) (Revenue) : The Addl. Cit, Range 1(1), Blue Star Ltd. Aaykar Bhavan, Mumbai Kasturi Building, Mohan T Advani Vs. Chowk, Jamshedji Tata Road, Mumbai-400 020 Pan/Gir No. Aaacb 4487 D (Revenue) : (Assessee)

For Appellant: Shri Niraj Sheth

Section 115Section 145ASection 250Section 40Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS. KAVITHA RAJAGOPAL, JM Blue Star Ltd. The Addl. CIT, Range 1(1), Kasturi Building, Mohan T Advani Aaykar Bhavan, Mumbai Vs. Chowk, Jamshedji Tata Road, Mumbai-400 020 PAN/GIR No. AAACB 4487 D (Assessee) (Revenue) : The Addl. CIT, Range 1(1), Blue Star Ltd. Aaykar Bhavan, Mumbai Kasturi Building, Mohan T Advani Vs. Chowk, Jamshedji Tata Road, Mumbai-400 020 PAN/GIR No. AAACB 4487 D (Revenue) : (Assessee) Assessee by : Shri Niraj Sheth : Shri S Srinivasu Revenue by Date of Hearing : 04.09.2023 Date of Pronouncement :…

Tata Chemicals Ltd, Mumbai vs. Addl Ciat 2(3), Mumbai

In the result, appeal filed by the assessee is partly allowed

ITA 120/MUM/2013[2008-09]Status: DisposedITAT Mumbai10 Nov 2023AY 2008-09

Bench: Shri Vikas Awasthy, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 144C(5)Section 14ASection 43BSection 80

…eing capital or revenue is to be decided based on the object and purpose with which the incentive scheme is introduced by the concerned government. In this regard, reliance is placed on judgments of the Hon'ble Apex Court in Ponni Sugars and Chemicals Limited 306 ITR 392, MEPCO Industries Limited 319 ITR 208, Shree Balaji Alloys (2016) 80 taxman.com 239 and Chaphalkar Brothers 400 ITR 279 and the Bombay High Court in Kirloskar Oil Engine Ltd. 364 ITR 88. As stated above, the object and purpose of the New Incentive Policy Capital Investment Incentive (General) Scheme 1995-2000 of the Government of Gujarat was acce…

M/S Pvr Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, the appeal of the assessee is allowed

ITA 2143/DEL/2011[2007-08]Status: DisposedITAT Delhi07 Nov 2023AY 2007-08

Bench: Sh. N. K. Billaiya & Ms. Astha Chandraassessment Year: 2007-08 M/S. Pvr Ltd. Addl. Cit Range-14 New Delhi 61, Basant Lok, Vasant Vihar Vs New Delhi-110057 Pan No.Aaacp4526D (Appellant) (Respondent)

Section 115JSection 14ASection 43(1)Section 43B

…gainst capital receipt claimed by the assessee and accepted by the Ld.AO is based on erroneous views and / or non-appreciation of the facts and law involved including the law as laid down by the apex court in the case of CIT V. Ponni Sugar and Chemicals Ltd., 306 ITR 392. 3. That the treatment of the said amount of E Tax as revenue receipt a against capital receipt claimed by the assessee and accepted by th Ld.AO, is inconsistent inter alia with the view of the Hon'ble High Court Allahabad and Karnataka where similar grant in aid of E Tax has been h as capital receipt. 4. That the Ld. CIT (A) has erred in not a…

Principal Commissioner of Income Tax 1 Kolkata vs. M/S Sova Ispat Ltd

In the result, the appeal filed by the revenue is dismissed and

ITAT/218/2023HC Calcutta16 Oct 2023

Bench: THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…t such quantification would be relevant for the taxability of the same going by the objects of the incentive scheme. The Tribunal taking note of the decision of the Hon'ble Supreme Court in the case of CIT v. Ponni Sugars & Chemicals Ltd. [2008] 174 Taxman 87/306 ITR 392 as also the decision of this case in the case of Rasoi Ltd (supra) dismissed the appeal filed by the revenue. Before us, the learned Counsel would place heavy reliance on the decision of the Hon'ble Supreme Court in the case of Sahney Steel & Press Works Ltd. (supra) and submitted that Tribunal ought to have followed the said decision and allowed…

Assistant Commissioner of Income Tax, Circle-(1), Raipur vs. Shri Bajrang Power and Ispat Ltd., Raipur

The appeal of the revenue is dismissed in terms of our aforesaid observations

ITA 201/RPR/2022[2012-13]Status: PendingITAT Raipur16 Oct 2023AY 2012-13

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 201/Rpr/2022 "नधा"रण वष" / Assessment Years : 2012-13 The Assistant Commissioner Of Income Tax, Circle-1(1), Raipur. .......अपीलाथ" / Appellant बनाम / V/S. Shri Bajrang Power & Ispat Limited, 00, Vill. Borjhara, Urla Guma Road, Raipur-493221. Pan : Aaccb2944D ……""यथ" / Respondent

For Appellant: Shri Amit M. Jain, AdvFor Respondent: Dr. Simran Bhullar, CIT-DR

Section 115JSection 143(2)Section 143(3)Section 14ASection 80I

…आयकर अपील"य अ"धकरण "यायपीठ रायपुर म"। IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, RAIPUR BEFORE SHRI RAVISH SOOD, JUDICIAL MEMBER AND SHRI ARUN KHODPIA, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No. 201/RPR/2022 "नधा"रण वष" / Assessment Years : 2012-13 The Assistant Commissioner of Income Tax, Circle-1(1), Raipur. .......अपीलाथ" / Appellant बनाम / V/s. Shri Bajrang Power and Ispat Limited, 00, Vill. Borjhara, Urla Guma Road, Raipur-493221. PAN : AACCB2944D ……""यथ" / Respondent Assessee by : Shri Amit M. Jain, Adv. Revenue by : Dr. Simran Bhullar, CIT-DR सुनवाई क" तार"ख / Date of Hearing : 18.07.2023 घोषणा…

Lg Electronics India Pvt. Ltd., Uttar Pradesh vs. ACIT, Noida

In the result, the appeal of the assessee is allowed in view of the above mentioned terms

ITA 755/DEL/2015[2010-11]Status: DisposedITAT Delhi13 Oct 2023AY 2010-11

Bench: Shri M. Balaganesh & Ms Astha Chandralg Electronics India Pvt. Ltd, Vs. Acit, Plot No. 51, Udyog Vihar, Circle-2, Noida Surajpur Kasna Road, Greater Noida, Gautam Budh Nagar, Uttar Pradesh (Appellant) (Respondent) Pan: Aaacl1745Q Assessee By : Shri Ajay Vohra, Sr. Adv, Shri Neeraj Jain, Adv Shri Ramit Katyal, Ar Mr. Aditya Vohra, Adv Revenue By: Mr. Rajesh Kumar, Cit Dr Date Of Hearing 17/07/2023 Date Of Pronouncement 13/10/2023

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Mr. Rajesh Kumar, CIT DR

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “I”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND MS ASTHA CHANDRA, JUDICIAL MEMBER LG Electronics India Pvt. Ltd, Vs. ACIT, Plot No. 51, Udyog Vihar, Circle-2, Noida Surajpur Kasna Road, Greater Noida, Gautam Budh Nagar, Uttar Pradesh (Appellant) (Respondent) PAN: AAACL1745Q Assessee by : Shri Ajay Vohra, Sr. Adv, Shri Neeraj Jain, Adv Shri Ramit Katyal, AR Mr. Aditya Vohra, Adv Revenue by: Mr. Rajesh Kumar, CIT DR Date of Hearing 17/07/2023 Date of pronouncement 13/10/2023 O R D E R PER M. BALAGANESH, A. M.: 1. The appeal in ITA No.755/Del/2015 for AY 201…