CIT v. Reliance Industries Ltd.

339 ITR 632High Court2011#411 most cited

What is CIT v. Reliance Industries Ltd. authority for?

No substantial question of law arises regarding a subsidy granted for setting up a new industrial unit in a backward area for employment generation, as held by the Bombay High Court. This decision was subsequently set aside by the Supreme Court.

218

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2014 to 2026.

Also referred to as

CIT v. Reliance Industries Ltd. · 339 ITR 632 · Bombay High Court · subsidy for new industrial unit · backward area development · employment generation · section 80IA · tax treatment of subsidy · no substantial question of law · Supreme Court remand

Also reported as

102 Taxmann.com 372228 Taxmann 184

Sections most often in play

Section 115JBSection 80IASection 14ASection 143(3)Section 80IA(8)Section 80IBSection 92CA(3)Section 234D

Issues it is cited on

section 80hhc(3)section 92f(ii)section 80ia(8)section 28(iv)section 92fcorporate guaranteesection 80hhcdeduction under section 80iasection 80hhsection 115jb(2)deduction u/s 80iasection 10(34)

Judgments citing CIT v. Reliance Industries Ltd.

DCIT Cen Cir 3(3) Cen RG 3, Mumbai vs. Welspun Corp Ltd, Mumbai

In the result, appeal filed by the assesee and appeal filed by the revenue are partly allowed for statistical purpose

ITA 5722/MUM/2015[2007-08]Status: DisposedITAT Mumbai13 Dec 2019AY 2007-08

Bench: Shri G. Manjunatha & Shri Ram Lal Negim/S Welspun Corp Ltd. Vs. Dcit,Central Circle-22 Room No.465, 4Th Floor Welspun House 7Th Floor, B-Wing Aaykar Bhawan Kamla Mills Compound M.K.Road Senapati Bapat Marg Mumbai-400 020 Lower Parel Mumbai-400 013 Pan/Gir No.Aaacw0744L (Appellant) .. (Respondent) & Dcit,Central Circle-3(3) Vs. M/S Welspun Corp Ltd. Room No.401, 4Th Floor Welspun House 7Th Floor, B-Wing Aaykar Bhawan M.K.Road Kamla Mills Compound Mumbai-400 020 Senapati Bapat Marg Lower Parel Mumbai-400 013 Pan/Gir No.Aaacw0744L (Appellant) .. (Respondent)

Section 143(3)Section 14ASection 153ASection 32Section 32(1)(iia)Section 37Section 40aSection 43(1)

…e Kutch District post devastating earthquakes on 26.01.2001. We also note that Special Bench decision of the Mumbai-tribunal in the case of Reliance Industries Limited(supra) was upheld by Hon’ble Bombay High Court in CIT v. Reliance Industries Limited (2011) 339 ITR 632(Bom.) by holding that no substantial question of law would arises as the object of the subsidy was to set up a new unit in a backward area to generate employment but aforesaid decision of Hon’ble Bombay High court has been set aside by Hon’ble Supreme Court in Civil Appeal Number 7769 of 2011 ( arising out of SLP (C) No. 9860 of 2010) dated 09.09…

Welspun Corp Ltd, Mumbai vs. DCIT Cen Cir 22, Mumbai

In the result, appeal filed by the assesee and appeal filed by the revenue are partly allowed for statistical purpose

ITA 5370/MUM/2015[2007-08]Status: DisposedITAT Mumbai13 Dec 2019AY 2007-08

Bench: Shri G. Manjunatha & Shri Ram Lal Negim/S Welspun Corp Ltd. Vs. Dcit,Central Circle-22 Room No.465, 4Th Floor Welspun House 7Th Floor, B-Wing Aaykar Bhawan Kamla Mills Compound M.K.Road Senapati Bapat Marg Mumbai-400 020 Lower Parel Mumbai-400 013 Pan/Gir No.Aaacw0744L (Appellant) .. (Respondent) & Dcit,Central Circle-3(3) Vs. M/S Welspun Corp Ltd. Room No.401, 4Th Floor Welspun House 7Th Floor, B-Wing Aaykar Bhawan M.K.Road Kamla Mills Compound Mumbai-400 020 Senapati Bapat Marg Lower Parel Mumbai-400 013 Pan/Gir No.Aaacw0744L (Appellant) .. (Respondent)

Section 143(3)Section 14ASection 153ASection 32Section 32(1)(iia)Section 37Section 40aSection 43(1)

…e Kutch District post devastating earthquakes on 26.01.2001. We also note that Special Bench decision of the Mumbai-tribunal in the case of Reliance Industries Limited(supra) was upheld by Hon’ble Bombay High Court in CIT v. Reliance Industries Limited (2011) 339 ITR 632(Bom.) by holding that no substantial question of law would arises as the object of the subsidy was to set up a new unit in a backward area to generate employment but aforesaid decision of Hon’ble Bombay High court has been set aside by Hon’ble Supreme Court in Civil Appeal Number 7769 of 2011 ( arising out of SLP (C) No. 9860 of 2010) dated 09.09…

Prasanna Purple Mobility Solutions Pvt.Ltd, Pune vs. Deputy Commissioner of Income-Tax, Circle - 4, Pune

In the result, the appeal of Revenue is dismissed

ITA 62/PUN/2018[2013-14]Status: DisposedITAT Pune16 Oct 2019AY 2013-14

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

For Appellant: Shri Nikhil MuthaFor Respondent: Shri Vodal Raj Singh
Section 143(3)Section 36(1)(iii)Section 37(1)

…आयकर अपील"य अ"धकरण] पुणे "यायपीठ “बी” पुणे म" IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM आयकर अपील सं. / ITA No.62/PUN/2018 "नधा"रण वष" / Assessment Year : 2013-14 Prasanna Purple Mobility Solutions ………. अपीलाथ" / Private Limited, Appellant 396, Near Ahilyadevi High School, Shaniwar Peth, Maharashtra – 411 030. PAN : AAACO9763H. बनाम v/s The Dy.Commissioner of Income Tax, ………. ""यथ" / Circle – 4, Pune. Respondent आयकर अपील सं. / ITA No.367/PUN/2018 "नधा"रण वष" / Assessment Year : 2013-14 The Dy.Commissioner of Income Tax, ………. अपीलाथ"…

Assistant Commissioner of Income-Tax, Circle -4, Pune vs. Prasanna Purple Mobility Solutions Pvt.Ltd, Pune

In the result, the appeal of Revenue is dismissed

ITA 367/PUN/2018[2013-14]Status: DisposedITAT Pune16 Oct 2019AY 2013-14

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

For Appellant: Shri Nikhil MuthaFor Respondent: Shri Vodal Raj Singh
Section 143(3)Section 36(1)(iii)Section 37(1)

…आयकर अपील"य अ"धकरण] पुणे "यायपीठ “बी” पुणे म" IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM आयकर अपील सं. / ITA No.62/PUN/2018 "नधा"रण वष" / Assessment Year : 2013-14 Prasanna Purple Mobility Solutions ………. अपीलाथ" / Private Limited, Appellant 396, Near Ahilyadevi High School, Shaniwar Peth, Maharashtra – 411 030. PAN : AAACO9763H. बनाम v/s The Dy.Commissioner of Income Tax, ………. ""यथ" / Circle – 4, Pune. Respondent आयकर अपील सं. / ITA No.367/PUN/2018 "नधा"रण वष" / Assessment Year : 2013-14 The Dy.Commissioner of Income Tax, ………. अपीलाथ"…

ACIT Central Circle, Salem vs. Thriveni Earthmovers Pvt. Ltd., Salem

In the result, the appeal filed by the Revenue in ITA

ITA 2283/CHNY/2018[2014-15]Status: DisposedITAT Chennai25 Sept 2019AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. M. Srinivasa Rao, IRS, CIT
Section 143(3)Section 148

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL, ‘D’ BENCH : CHENNAI "ी इंटूर" रामा राव, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" [BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/CHNY/2018 "नधा"रण वष" /Assessment years :2011-12, 2012-13, 2013-14 and 2014-15 The Assistant Commissioner Vs. M/s. Thriveni Earthmovers Pvt Ltd, of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [PAN AABCT 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क"…

ACIT Central Circle, Salem vs. Thriveni Earthmovers Pvt. Ltd., Salem

In the result, the appeal filed by the Revenue in ITA

ITA 2282/CHNY/2018[2013-14]Status: DisposedITAT Chennai25 Sept 2019AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. M. Srinivasa Rao, IRS, CIT
Section 143(3)Section 148

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL, ‘D’ BENCH : CHENNAI "ी इंटूर" रामा राव, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" [BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/CHNY/2018 "नधा"रण वष" /Assessment years :2011-12, 2012-13, 2013-14 and 2014-15 The Assistant Commissioner Vs. M/s. Thriveni Earthmovers Pvt Ltd, of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [PAN AABCT 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क"…

ACIT Central Circle, Salem vs. Thriveni Earthmovers Pvt. Ltd., Salem

In the result, the appeal filed by the Revenue in ITA

ITA 2281/CHNY/2018[2012-13]Status: DisposedITAT Chennai25 Sept 2019AY 2012-13

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. M. Srinivasa Rao, IRS, CIT
Section 143(3)Section 148

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL, ‘D’ BENCH : CHENNAI "ी इंटूर" रामा राव, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" [BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/CHNY/2018 "नधा"रण वष" /Assessment years :2011-12, 2012-13, 2013-14 and 2014-15 The Assistant Commissioner Vs. M/s. Thriveni Earthmovers Pvt Ltd, of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [PAN AABCT 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क"…

ACIT Central Circle, Salem vs. Thriveni Earthmovers Pvt. Ltd., Salem

In the result, the appeal filed by the Revenue in ITA

ITA 2280/CHNY/2018[2011-12]Status: DisposedITAT Chennai25 Sept 2019AY 2011-12

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/Chny/2018 "नधा"रण वष" /Assessment Years :2011-12, 2012-13, 2013-14 & 2014-15 The Assistant Commissioner Vs. M/S. Thriveni Earthmovers Pvt Ltd, Of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [Pan Aabct 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. M. Srinivasa Rao, IRS, CIT
Section 143(3)Section 148

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL, ‘D’ BENCH : CHENNAI "ी इंटूर" रामा राव, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" [BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER] आयकर अपील सं./I.T.A. Nos. 2280, 2281, 2282 & 2283/CHNY/2018 "नधा"रण वष" /Assessment years :2011-12, 2012-13, 2013-14 and 2014-15 The Assistant Commissioner Vs. M/s. Thriveni Earthmovers Pvt Ltd, of Income Tax, 22/110, Greenways Road, Central Circle, Fairlands, Salem Salem 636 016. [PAN AABCT 6759R] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क"…

ACIT 16(1), Mumbai vs. Tips Industries Ltd, Mumbai

In the result, the appeal filed by revenue in ITA no

ITA 6291/MUM/2017[2012-13]Status: DisposedITAT Mumbai03 May 2019AY 2012-13

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…r Concerns hence, no disallowance could be made. In that set of facts, Hon'ble Bombay High Court has held that no fault could be found in the finding of lower authority. Here is not the case like that. Similarly, the facts of CIT vs. Miss Sushma Kapoor (2009) 319 ITR 299(Delhi) is altogether different. In that case, it was found by the CIT(A) that interest free advances were given by that Assessee in earlier years before taking the loan on which interest was paid and therefore, advances were not given out of loan taken by the Assessee. In that circumstances, it was held by the Hon'ble Delhi High Court that there…

Tips Industries Ltd, Mumbai vs. ACIT 16(1), Mumbai

In the result, the appeal filed by revenue in ITA no

ITA 6196/MUM/2017[2013-14]Status: DisposedITAT Mumbai03 May 2019AY 2013-14

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…r Concerns hence, no disallowance could be made. In that set of facts, Hon'ble Bombay High Court has held that no fault could be found in the finding of lower authority. Here is not the case like that. Similarly, the facts of CIT vs. Miss Sushma Kapoor (2009) 319 ITR 299(Delhi) is altogether different. In that case, it was found by the CIT(A) that interest free advances were given by that Assessee in earlier years before taking the loan on which interest was paid and therefore, advances were not given out of loan taken by the Assessee. In that circumstances, it was held by the Hon'ble Delhi High Court that there…

Tips Industries Ltd, Mumbai vs. ACIT 16(1), Mumbai

In the result, the appeal filed by revenue in ITA no

ITA 6195/MUM/2017[2012-13]Status: DisposedITAT Mumbai03 May 2019AY 2012-13

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…r Concerns hence, no disallowance could be made. In that set of facts, Hon'ble Bombay High Court has held that no fault could be found in the finding of lower authority. Here is not the case like that. Similarly, the facts of CIT vs. Miss Sushma Kapoor (2009) 319 ITR 299(Delhi) is altogether different. In that case, it was found by the CIT(A) that interest free advances were given by that Assessee in earlier years before taking the loan on which interest was paid and therefore, advances were not given out of loan taken by the Assessee. In that circumstances, it was held by the Hon'ble Delhi High Court that there…

Tips Industries Ltd, Mumbai vs. ACIT 11(1), Mumbai

In the result, the appeal filed by revenue in ITA no

ITA 6194/MUM/2017[2011-12]Status: DisposedITAT Mumbai03 May 2019AY 2011-12

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…r Concerns hence, no disallowance could be made. In that set of facts, Hon'ble Bombay High Court has held that no fault could be found in the finding of lower authority. Here is not the case like that. Similarly, the facts of CIT vs. Miss Sushma Kapoor (2009) 319 ITR 299(Delhi) is altogether different. In that case, it was found by the CIT(A) that interest free advances were given by that Assessee in earlier years before taking the loan on which interest was paid and therefore, advances were not given out of loan taken by the Assessee. In that circumstances, it was held by the Hon'ble Delhi High Court that there…

Jindal Steel & Power Ltd., New Delhi vs. ACIT, Hisar

In the result, the appeal of the assessee is partly allowed

ITA 893/DEL/2014[2009-10]Status: DisposedITAT Delhi29 Apr 2019AY 2009-10

Bench: Sh. Bhavnesh Saini & Sh. N. S. Sainiita No. 893/Del/2014 : Asstt. Year : 2009-10 Jindal Steel & Power Ltd., Vs Asstt. Commissioner Of Jindal Centre, 12, Bhikaji Cama Income Tax, Hisar Circle, Place, New Delhi-110066 Hisar (Appellant) (Respondent) Pan No. Aaacj7079D Assessee By : Sh. Salil Kapoor, Adv., Sh. Sumit Lal Chandani, Adv., Ms. Ananya Kapoor, Adv. & Ms. Pallavi Saigal, Adv. Revenue By : Sh. Sanjay I. Bara, Cit Dr Date Of Hearing :05.03.2019 Date Of Pronouncement : 29.04.2019 Order Per N. S. Saini: This Is An Appeal Filed By The Assessee Against The Order Of Assessing Officer U/S 143(3)/144C(13) Of The Income Tax Act, 1961 Dated 29.10.2018 For Assessment Years 2013-14

For Appellant: Sh. Salil Kapoor, AdvFor Respondent: Sh. Sanjay I. Bara, CIT DR
Section 143(3)Section 144CSection 80Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHE ‘I-1’, NEW DELHI Before Sh. Bhavnesh Saini, Judicial Member And Sh. N. S. Saini, Accountant Member ITA No. 893/Del/2014 : Asstt. Year : 2009-10 Jindal Steel & Power Ltd., Vs Asstt. Commissioner of Jindal Centre, 12, Bhikaji Cama Income Tax, Hisar Circle, Place, New Delhi-110066 Hisar (APPELLANT) (RESPONDENT) PAN No. AAACJ7079D Assessee by : Sh. Salil Kapoor, Adv., Sh. Sumit Lal Chandani, Adv., Ms. Ananya Kapoor, Adv. & Ms. Pallavi Saigal, Adv. Revenue by : Sh. Sanjay I. Bara, CIT DR Date of Hearing :05.03.2019 Date of Pronouncement : 29.04.2019 ORDER Per N.…

Talbros Motors P.Ltd, New Delhi vs. ITO, Ward-25(1), New Delhi

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

ITA 7591/DEL/2018[2014-15]Status: DisposedITAT Delhi26 Apr 2019AY 2014-15

Bench: Shri N.K. Billaiya[Assessment Year: 2014-15] M/S Talbros Motors Pvt Ltd Vs. The I.T.O [Now Merged With Talbros International Ward 25(1) Pvt. Ltd., 1411 & 1412 Nicholson Road New Delhi Kashmiri Gate, New Delhi Pan: Aaact 0126 F [Appellant] [Respondent]

For Appellant: Shri V.K. Aggarwal, CAFor Respondent: Shri S.L. Anuragi, Sr. DR
Section 10(34)Section 14ASection 36(2)

…as the assessee has derived dividend income of Rs. 6.46 lakhs wholly from one company and no expenditure was incurred in earning this dividend income. Reliance was placed on the decision of the Hon'ble Bombay High Court in the case of Reliance Industries Ltd 339 ITR 632. 13. Per contra, the ld. DR read the relevant portion of the assessment order and the order of the first appellate authority and stated that the disallowance should be confirmed. 14. I have given thoughtful consideration to the orders of the authorities below. I have also gone through the balance sheet of the earlier years. I find force in the c…

Gvk Power & Infrastructure Limited, Kadiyam vs. The Assistant Commissioner of Income Tax, Circle-2(1), Rajahmundry

In the result, appeal of the assessee is allowed

ITA 553/VIZ/2018[2014-15]Status: DisposedITAT Visakhapatnam03 Apr 2019AY 2014-15

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकरअपीलसं./I.T.A.No.553/Viz/2018 (ननधधारण वर्ा/Assessment Year:2014-15) M/S Gvk Power & Infrastructure Ltd. Vs. Asst.Commissioner Of D.No.5-48, Gvk Power Plant Income Tax Jegurupadu, Kadiyammandal Circle-2(1) East Godavari Rajamahendravaram [Pan :Aaacj5599A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओ रसे/ Appellant By Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से/ Respondent By Shri D.K.Sonowal, Cit Dr सुनवधई की तधरीख / Date Of Hearing : 21.03.2019 घोर्णध की तधरीख/Date Of Pronouncement : 03.04.2019

Section 139Section 143(3)Section 14ASection 36Section 5

…ry companies / step down subsidiaries. The assessee is free to apply interest bearing funds for it’s business and to draw the own funds from the business for other purposes. On identical facts, Hon’ble Bombay High Court in the case of Reliance Industries Ltd. 86 Taxmann.com 24 held that no disallowance is required to be made u/s 36(1)(iii) for interest on borrowed capital for interest free loans to subsidiary companies. The order of the Hon’ble Bombay High Court is upheld by the Hon’ble Supreme Court in 102 taxmann.com 52. In the instant case, there is no dispute that 37 I.T.A. No.553/Viz/2018 M/s GVK Power & In…

Assistant Commissioner of Income-Tax vs. M S S India Pvt. Ltd., Nashik

In the result, appeal of Revenue is dismissed

ITA 1909/PUN/2016[2011-12]Status: DisposedITAT Pune02 Jan 2019AY 2011-12

Bench: Shri R.S. Syal & Shri Vikas Awasthy, Jm

For Appellant: Shri Nikhil PathakFor Respondent: Shri Sudhendu Das

…Coordinate Bench of the Tribunal in the case of ACIT Vs. M/s. Universal Construction Machinery and Equipments Ltd. in ITA No.2312/PUN/2016 for A.Y. 2012-13 decided on 03-08-2018 following the decision rendered in the case of CIT Vs. Reliance Industries Ltd. 339 ITR 632 held that subsidy received by the assessee therein is capital in nature. The case of the assessee is squarely covered by aforesaid decision of the Tribunal. 6. On the other hand Shri Sudhendu Das representing the Department vehemently defended the assessment order. The ld. DR submitted that the assessee claimed subsidy received under Package S…

ACIT, New Delhi vs. M/S Rohit Kochar, New Delhi

ITA 3338/DEL/2016[2010-11]Status: DisposedITAT Delhi30 Nov 2018AY 2010-11

Bench: Shri N.K. Billaiya & Shri Kuldip Singh

For Appellant: Shri B.S. Sistani, CAFor Respondent: Shri Naina Soin Kapil, Senior DR

…case for AY 2008-09 & 2009-10 in ITA Nos.3699 & 3700/Del/2012 order dated 04.03.2016 wherein the coordinate Bench of the Tribunal, after following the decision rendered by the Hon’ble jurisdictional High Court in case cited as CIT vs. Sushma Kapoor (2009) 319 ITR 299, confirmed the order of CIT (A) deleting the addition made on account of proportionate disallowance of interest made by the AO. 8. When it is not in dispute that the AO has made addition on account of disallowance of interest by following the earlier years assessment orders which have now been over-turned by the coordinate Bench of the Tribun…

DCIT, New Delhi vs. M/S Jsl Ltd., Hisar

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

ITA 4110/DEL/2013[2007-08]Status: DisposedITAT Delhi19 Nov 2018AY 2007-08

Bench: Smt Diva Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Kumar Parnav, Sr. DR
Section 92CSection 92C(2)

…fficer to delete the addition of Rs. 13,29,248. The grounds involving the issue are accordingly allowed.‖ (emphasis supplied) To the same effect are the following decisions:  CIT v. Metalman Auto P. Ltd.: 336 ITR 434 (P&H)  CIT v. Reliance Industries Ltd. : 339 ITR 632 (Bom) ITA No 4249 / Del/2012, 4110/Del/2013 & 6337/Del/2013 A Y 2007-08 and 2008-09 Jindal Steel Limited Vs ACIT Cen Circle 4(1) , New Delhi  Chemical &Mettallurgical Design Co. Ltd : ITA No. 803/2008 (Delhi HC)  CIT v. Torrent Power Ltd.: 363 ITR 474 (Guj)  CIT Vs Ms. Sushma Kapoor : 319 ITR 299 (Delhi)  CIT v. Adarsh Kumar Goel: [2011] 199…

Jindal Stainless Ltd., Hisar vs. DCIT, New Delhi

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

ITA 6337/DEL/2012[2008-09]Status: DisposedITAT Delhi19 Nov 2018AY 2008-09

Bench: Smt Diva Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Kumar Parnav, Sr. DR
Section 92CSection 92C(2)

…fficer to delete the addition of Rs. 13,29,248. The grounds involving the issue are accordingly allowed.‖ (emphasis supplied) To the same effect are the following decisions:  CIT v. Metalman Auto P. Ltd.: 336 ITR 434 (P&H)  CIT v. Reliance Industries Ltd. : 339 ITR 632 (Bom) ITA No 4249 / Del/2012, 4110/Del/2013 & 6337/Del/2013 A Y 2007-08 and 2008-09 Jindal Steel Limited Vs ACIT Cen Circle 4(1) , New Delhi  Chemical &Mettallurgical Design Co. Ltd : ITA No. 803/2008 (Delhi HC)  CIT v. Torrent Power Ltd.: 363 ITR 474 (Guj)  CIT Vs Ms. Sushma Kapoor : 319 ITR 299 (Delhi)  CIT v. Adarsh Kumar Goel: [2011] 199…

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal of the assessee is partly allowed for statistical purpose

ITA 467/DEL/2014[2009-10]Status: DisposedITAT Delhi17 Oct 2018AY 2009-10

Bench: Shri R. K. Panda & Ms Suchitra Kamblei.T.A .No. 467/Del/2014 (A.Y 2009-10)

Section 143(3)Section 144CSection 144C(5)Section 43Section 43B

…DELHI BENCH: ‘I-1’ NEW DELHI BEFORE SHRI R. K. PANDA, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER I.T.A .No. 467/DEL/2014 (A.Y 2009-10) Maruti Suzuki India Ltd. Vs Addl. CIT Plot No. 1, Nelson Mandela Road, Range-6 Vasank Kunj New Delhi New Delhi AAACM0829Q (APPELLANT) (RESPONDENT) Appellant by Sh. Ajay Vohra, Sr. Adv., Sh. Rohit Jain, Adv., Ms. Tejasvi Adv Respondent by Shr. G. C. Srivastava, Adv, Sh. Sanjay Kr. Dass, DR. Date of Hearing 27.07.2018 Date of Pronouncement 17.10.2018 ORDER PER SUCHITRA KAMBLE, JM This appeal is filed by the assessee for Assessment Year 2009-10 against the ord…