CIT v. Raymonds Ltd.

71 DTR 265High Court2012#5976 most cited
20

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2021 to 2025.

Also reported as

21 Taxmann.com 80

Sections most often in play

Section 115JBSection 14ASection 37(1)Section 43(5)Section 43ASection 58ASection 68Section 32(1)(tia)

Issues it is cited on

section 15personindiabusinessdocument

Judgments citing CIT v. Raymonds Ltd.

OCL INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal of the assessee is partly allowed and appeal of the Revenue is allowed for statistical purpose

ITA 4068/DEL/2015[2007-08]Status: DisposedITAT Delhi23 Sept 2025AY 2007-08

Bench: Shri Vikas Awasthy & Shri Naveen Chandraआअसं.4068/िद"ी/2015(िन.व. 2007-08) Dalmia Bharat Ltd., (Successor In The Interest Of Ocl India Ltd.) 11Th & 12Th Floor, Hansalaya Building, 15, Barakhamba Road, New Delhi 110001 ...... अपीलाथ"/Appellant Pan: Aabco-8750-F बनाम Vs. Deputy Commissioner Of Income Tax, ..... "ितवादी/Respondent Circle 19(1), C R Building New Delhi 110095 आअसं.3767/िद"ी/2015(िन.व. 2007-08) Assistant Commissioner Of Income Tax, Aayakar Bhawan, Uditnagar, Rourkela, ...... अपीलाथ"/Appellant Dist. Sundargarh, Odisha 769012 बनाम Vs. Dalmia Bharat Ltd., Successor Of Ocl India Ltd., 11Th & 12Th Floor, Hansalaya Building, 15, Barakhamba Road, New Delhi 110001 ..... "ितवादी/Respondent Pan: Aabco-8750-F

For Appellant: S/Shri Vijay Shah, Navin Verma &For Respondent: Shri Amaninder Singh Dhindsa &
Section 43(5)Section 43ASection 53A

…ofit & Loss Account. Such amount transferred to Debenture Redemption Reserve is liable for exclusion while computing Book Profit u/s 115JB of the Act. The said view is supported by the decision of Hon'ble Bombay High Court in CIT - vs.- Raymond Limited (2012) 71 DTR 265 (Bom).” 16 ITA Nos 4068 & 3767/Del/2015 (AY 2007-08) 15. At the outset, ld. Counsel for the assessee submits that he is not pressing additional ground of appeal no. 4 & 5 i.e. grounds raised in para 5 & 6 of the said application. With regard to other grounds of appeal, the ld. Counsel submitted that no additional evidences are required to be addu…

DCIT, NEW DELHI vs. M/S OCL INDIA PVT. LTD.,, NEW DELHI

In the result, appeal of the assessee is partly allowed and appeal of the Revenue is allowed for statistical purpose

ITA 3767/DEL/2015[2007-08]Status: DisposedITAT Delhi23 Sept 2025AY 2007-08

Bench: Shri Vikas Awasthy & Shri Naveen Chandraआअसं.4068/िद"ी/2015(िन.व. 2007-08) Dalmia Bharat Ltd., (Successor In The Interest Of Ocl India Ltd.) 11Th & 12Th Floor, Hansalaya Building, 15, Barakhamba Road, New Delhi 110001 ...... अपीलाथ"/Appellant Pan: Aabco-8750-F बनाम Vs. Deputy Commissioner Of Income Tax, ..... "ितवादी/Respondent Circle 19(1), C R Building New Delhi 110095 आअसं.3767/िद"ी/2015(िन.व. 2007-08) Assistant Commissioner Of Income Tax, Aayakar Bhawan, Uditnagar, Rourkela, ...... अपीलाथ"/Appellant Dist. Sundargarh, Odisha 769012 बनाम Vs. Dalmia Bharat Ltd., Successor Of Ocl India Ltd., 11Th & 12Th Floor, Hansalaya Building, 15, Barakhamba Road, New Delhi 110001 ..... "ितवादी/Respondent Pan: Aabco-8750-F

For Appellant: S/Shri Vijay Shah, Navin Verma &For Respondent: Shri Amaninder Singh Dhindsa &
Section 43(5)Section 43ASection 53A

…ofit & Loss Account. Such amount transferred to Debenture Redemption Reserve is liable for exclusion while computing Book Profit u/s 115JB of the Act. The said view is supported by the decision of Hon'ble Bombay High Court in CIT - vs.- Raymond Limited (2012) 71 DTR 265 (Bom).” 16 ITA Nos 4068 & 3767/Del/2015 (AY 2007-08) 15. At the outset, ld. Counsel for the assessee submits that he is not pressing additional ground of appeal no. 4 & 5 i.e. grounds raised in para 5 & 6 of the said application. With regard to other grounds of appeal, the ld. Counsel submitted that no additional evidences are required to be addu…

M/S SHIVAM RESORTS,ABOHAR vs. DCIT, CC-1, LUDHIANA

In the result, the appeal of the Assessee is allowed

ITA 427/CHANDI/2023[2018-19]Status: DisposedITAT Chandigarh31 Jul 2024AY 2018-19

Bench: Shri Krinwant Sahay & Shri Paresh M. Joshiआयकर अपील सं./ Ita No. 427/Chd/2023 "नधा"रण वष" / Assessment Year: 2018-19 M/S Shivam Resorts, Vs. The Dcit, Central Circle -1, Malout, Hamunangarh Road, बनाम Ludhiana Bye Pass, Abohar "थायी लेखा सं./Pan No: Accfs7094Q अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Hybrid Hearing ) "नधा"रती क" ओर से/Assessee By : Shri Ashwani Kumar,Ca राज"व क" ओर से/ Revenue By : Shri Rahus Sohu, Jcit, Sr. Dr सुनवाई क" तार"ख/Date Of Hearing : 01.07.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 31.07.2024

For Appellant: Shri Ashwani Kumar,CAFor Respondent: Shri Rahus Sohu, JCIT, Sr. DR
Section 133ASection 143(2)Section 250(6)

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ, च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCH, ‘B’, CHANDIGARH BEFORE SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER & SHRI PARESH M. JOSHI, JUDICIAL MEMBER आयकर अपील सं./ ITA No. 427/CHD/2023 "नधा"रण वष" / Assessment Year: 2018-19 M/s Shivam Resorts, Vs. The DCIT, Central Circle -1, Malout, Hamunangarh Road, बनाम Ludhiana Bye Pass, Abohar "थायी लेखा सं./PAN No: ACCFS7094Q अपीलाथ"/ APPELLANT ""यथ"/ REPSONDENT ( HYBRID HEARING ) "नधा"रती क" ओर से/Assessee by : Shri Ashwani Kumar,CA राज"व क" ओर से/ Revenue by : Shri Rahus Sohu, JCIT, Sr. DR सुनवाई क" तार"ख/Date of Hear…

ACIT, CENTRAL CIRCLE, MORADABAD vs. GENUS ELECTROTECH LTD. , AHAMEDABAD

ITA 9516/DEL/2019[2010-11]Status: DisposedITAT Delhi04 Aug 2022AY 2010-11
For Appellant: Shri Mayank Patawari, CAFor Respondent: Md. Gayasuddin Ansari, Senior DR
Section 115JSection 143Section 143(3)Section 154Section 250

…assessee is aggrieved and is in appeal before us. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymond's Ltd [(2012) 71 DTR 265 (Born)] wherein Their lordships have inter alia observed as follow: Re question (a): Section 115JA of the Income Tax Act 1981 provides in subsection (2) that every assessee being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of parts II and III o…

ACIT, CENTRAL CIRCLE, MORADABAD vs. GENUS ELECTROTECH LTD. , AHAMEDABAD

ITA 9515/DEL/2019[2009-10]Status: DisposedITAT Delhi04 Aug 2022AY 2009-10
For Appellant: Shri Mayank Patawari, CAFor Respondent: Md. Gayasuddin Ansari, Senior DR
Section 115JSection 143Section 143(3)Section 154Section 250

…assessee is aggrieved and is in appeal before us. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymond's Ltd [(2012) 71 DTR 265 (Born)] wherein Their lordships have inter alia observed as follow: Re question (a): Section 115JA of the Income Tax Act 1981 provides in subsection (2) that every assessee being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of parts II and III o…

ACIT, CENTRAL CIRCLE, MORADABAD vs. GENUS ELECTROTECH LTD. , AHAMEDABAD

ITA 9514/DEL/2019[2008-09]Status: DisposedITAT Delhi04 Aug 2022AY 2008-09
For Appellant: Shri Mayank Patawari, CAFor Respondent: Md. Gayasuddin Ansari, Senior DR
Section 115JSection 143Section 143(3)Section 154Section 250

…assessee is aggrieved and is in appeal before us. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymond's Ltd [(2012) 71 DTR 265 (Born)] wherein Their lordships have inter alia observed as follow: Re question (a): Section 115JA of the Income Tax Act 1981 provides in subsection (2) that every assessee being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of parts II and III o…

ACIT, CENTRAL CIRCLE, MORADABAD vs. GENUS ELECTROTECH LTD. , AHAMEDABAD

ITA 9513/DEL/2019[2007-08]Status: DisposedITAT Delhi04 Aug 2022AY 2007-08
For Appellant: Shri Mayank Patawari, CAFor Respondent: Md. Gayasuddin Ansari, Senior DR
Section 115JSection 143Section 143(3)Section 154Section 250

…assessee is aggrieved and is in appeal before us. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymond's Ltd [(2012) 71 DTR 265 (Born)] wherein Their lordships have inter alia observed as follow: Re question (a): Section 115JA of the Income Tax Act 1981 provides in subsection (2) that every assessee being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of parts II and III o…

M/S. GENUS ELECTROTECH LTD.,,AHMEDABAD vs. THE DY.CIT, CIRCLE-2(1)(1),, AHMEDABAD

ITA 2418/AHD/2017[2007-08]Status: DisposedITAT Delhi04 Aug 2022AY 2007-08
For Appellant: Shri Mayank Patawari, CAFor Respondent: Md. Gayasuddin Ansari, Senior DR
Section 115JSection 143Section 143(3)Section 154Section 250

…assessee is aggrieved and is in appeal before us. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymond's Ltd [(2012) 71 DTR 265 (Born)] wherein Their lordships have inter alia observed as follow: Re question (a): Section 115JA of the Income Tax Act 1981 provides in subsection (2) that every assessee being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of parts II and III o…

A.C.I.T.,CIRCLE-2(1), KOLKATA vs. M/S INDIA POWER CORPORATION LTD., KOLKATA

In the result, the appeal of revenue stands dismissed and the Cross Objection of assessee are partly allowed

ITA 1390/KOL/2019[2013-14]Status: DisposedITAT Kolkata11 Aug 2021AY 2013-14

Bench: Shri A. T. Varkey, Hon’Ble & Dr. M. L. Meena, Hon’Ble]

Section 36(1)(iii)

…the claim by referring to the decision of this Tribunal in SREI Equipment Finance Ltd. Vs. DCIT, ITA No. 424/Kol/2011 wherein the Tribunal has relied on the ratio of the decision laid by the Hon’ble Bombay High court in the case of CIT Vs. Raymond Ltd. (2012) 71 DTR 265 (Bom.) wherein it has been held that mere fact that the debenture redemption reserve is labeled as a reserve will not render it as a reserve and an amount which is retained by way of providing a known liability is not a reserve within the meaning of explanation (b) of section 115JA of the Act. Therefore, in view of the discussion (supra) we do not…

THE DCIT, CIRCLE-2(1)(1),, AHMEDABAD vs. GENUS ELECTROTECH LIMITED,, AHMEDABAD

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

ITA 701/AHD/2015[2011-12]Status: DisposedITAT Delhi17 Feb 2021AY 2011-12

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

…essee is aggrieved and is in appeal before us. 17. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymonds Ltd [(2012) 71 DTR 265 (Bom)] wherein Their Lordships have inter alia observed as follows: 2. Re question (a): Section 115JA of the Income Tax Act, 1961 provides in subsection (2) that every assessee, being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of Parts II and…

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 348/AHD/2015[2011-12]Status: DisposedITAT Delhi17 Feb 2021AY 2011-12

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

…essee is aggrieved and is in appeal before us. 17. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymonds Ltd [(2012) 71 DTR 265 (Bom)] wherein Their Lordships have inter alia observed as follows: 2. Re question (a): Section 115JA of the Income Tax Act, 1961 provides in subsection (2) that every assessee, being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of Parts II and…

THE ACIT, CIRCLE-2(1)(1),, AHMEDABAD vs. GENUS ELETROTECH LIMITED, AHMEDABAD

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

ITA 2617/AHD/2015[2012-13]Status: DisposedITAT Delhi17 Feb 2021AY 2012-13

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

…essee is aggrieved and is in appeal before us. 17. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymonds Ltd [(2012) 71 DTR 265 (Bom)] wherein Their Lordships have inter alia observed as follows: 2. Re question (a): Section 115JA of the Income Tax Act, 1961 provides in subsection (2) that every assessee, being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of Parts II and…

M/S. GENUS ELECTROTECH LTD.,,AHMEDABAD vs. THE DY.CIT, CIRCLE- 2(1)(1),, AHMEDABAD

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

ITA 2461/AHD/2015[2012-13]Status: DisposedITAT Delhi17 Feb 2021AY 2012-13

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

…essee is aggrieved and is in appeal before us. 17. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymonds Ltd [(2012) 71 DTR 265 (Bom)] wherein Their Lordships have inter alia observed as follows: 2. Re question (a): Section 115JA of the Income Tax Act, 1961 provides in subsection (2) that every assessee, being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of Parts II and…

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]

…essee is aggrieved and is in appeal before us. 17. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymonds Ltd [(2012) 71 DTR 265 (Bom)] wherein Their Lordships have inter alia observed as follows: 2. Re question (a): Section 115JA of the Income Tax Act, 1961 provides in subsection (2) that every assessee, being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of Parts II and…

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]

…essee is aggrieved and is in appeal before us. 17. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymonds Ltd [(2012) 71 DTR 265 (Bom)] wherein Their Lordships have inter alia observed as follows: 2. Re question (a): Section 115JA of the Income Tax Act, 1961 provides in subsection (2) that every assessee, being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of Parts II and…

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]

…essee is aggrieved and is in appeal before us. 17. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymonds Ltd [(2012) 71 DTR 265 (Bom)] wherein Their Lordships have inter alia observed as follows: 2. Re question (a): Section 115JA of the Income Tax Act, 1961 provides in subsection (2) that every assessee, being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of Parts II and…

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]

…essee is aggrieved and is in appeal before us. 17. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymonds Ltd [(2012) 71 DTR 265 (Bom)] wherein Their Lordships have inter alia observed as follows: 2. Re question (a): Section 115JA of the Income Tax Act, 1961 provides in subsection (2) that every assessee, being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of Parts II and…

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]

…essee is aggrieved and is in appeal before us. 17. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymonds Ltd [(2012) 71 DTR 265 (Bom)] wherein Their Lordships have inter alia observed as follows: 2. Re question (a): Section 115JA of the Income Tax Act, 1961 provides in subsection (2) that every assessee, being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of Parts II and…

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]

…essee is aggrieved and is in appeal before us. 17. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymonds Ltd [(2012) 71 DTR 265 (Bom)] wherein Their Lordships have inter alia observed as follows: 2. Re question (a): Section 115JA of the Income Tax Act, 1961 provides in subsection (2) that every assessee, being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of Parts II and…

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]

…essee is aggrieved and is in appeal before us. 17. Having heard the rival contentions and having perused the material on record, we find that the issue is indeed covered by the decision of Hon’ble Bombay High Court, in the case of CIT Vs Raymonds Ltd [(2012) 71 DTR 265 (Bom)] wherein Their Lordships have inter alia observed as follows: 2. Re question (a): Section 115JA of the Income Tax Act, 1961 provides in subsection (2) that every assessee, being a company shall for the purpose of the section prepare its profit and loss account for the relevant previous year in accordance with the provisions of Parts II and…