CIT v. Reliance Petro Products Private Limited

230 ITR 320High Court2010#10252 most cited
11

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2026.

Sections most often in play

Section 271(1)(c)Section 133(6)Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 148Section 250

Judgments citing CIT v. Reliance Petro Products Private Limited

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2 1 1 , VADODARA, VADODARA vs. UNIMED TECHNOLOGIES LIMITED, PANCHMAHAL

In the result, the appeal filed by the Revenue is hereby dismissed

ITA 279/AHD/2026[2016-17]Status: DisposedITAT Ahmedabad03 Mar 2026AY 2016-17

Bench: DR. BRR Kumar (Vice President), Shri T. R. Senthil Kumar (Judicial Member)

Section 143(3)Section 271Section 271(1)(c)Section 43A

…ene Care (P.) Ltd. held as follows: “16. Now coming to the justification of penalty, in the present case, we find that the case is squarely covered by the judgment of the Hon’ble Supreme Court rendered in the case of CIT v. Reliance Petro Products Pvt. Ltd., 230 ITR 320. In the said case, the Hon’ble apex court has made it very clear that the disallowance of a claim or a wrong claim made by the assessee, ipso facto, do not amount to furnishing of inaccurate particulars or thereby concealment of income. In the present case, it is a fact that the assessee has a liability of foreign exchange loan. It is also true t…

BIPIN PRANJIVANDAS SHAH,MUMBAI vs. ITO WARD 27(1)(1), NAVI MUMBAI

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

ITA 1661/MUM/2024[2009-10]Status: DisposedITAT Mumbai10 Jan 2025AY 2009-10

Bench: Shri Amarjit Singh & Shri Raj Kumar Chauhan

Section 133(6)Section 143Section 143(2)Section 148Section 250Section 271(1)(c)

…T vs. Rajiv Bhatara 360 ITR 121 (P&H) 12. CIT vs. Reliance Petro products P. Ltd. [2010] 322 ITR 158 (SC) 13. Commissioner of Income Tax vs. Aero Traders(P.) Ltd., 322 ITR 316, Delhi HC. 14. CIT vs. Escorts Finance Ltd 328 ITR 44 (Delhi) 15. CIT vs. SSP. Ltd. 328 ITR 643 (P & H.) 16. CIT vs. Suresh Chand Bansal 329 ITR 330(Calcutta) 17. Commissioner of Income Tax, Patiala vs. Sangrur Vanaspati Mills Ltd., 171 Taxman 320 (Punajb & Haryana) 18. Harigopal Singh vs. Commissioner of Income Tax, 125 Taxman 242 (Punjab & Haryana) 19. CIT vs. Ravail Singh 254 ITR 191(P&H) 20. Hari Om Kumar Umesh Chand vs. ITO. 124 Taxman…

GODAVARI KHORE SAHAKARI DUDH UTPADAK SANGH LTD,,AHMEDNAGAR vs. ASSISTANT COMMISSIONER OF INCOME-TAX, AHMEDNAGAR CIRCLE ,, AHMEDNAGAR

In the result, the appeal filed by the assessee stands allowed

ITA 2335/PUN/2017[2013-14]Status: DisposedITAT Pune03 Mar 2021AY 2013-14

Bench: Shri Inturi Rama Rao, Am & Shri S. S. Viswanethra Ravi, Jm आयकर अपील सं. / Ita No.2335/Pun/2017 िनधा"रण वष" / Assessment Year : 2013-14 Godavari Khore Sahakari Dudh Utpadak Sangh Ltd., A/P Sahajanandnagar, Tal. Kopargaon, Dist. Ahmednagar. .......अपीलाथ" / Appellant Pan : Aaaag0652R बनाम / V/S. Acit, Ahmednagar Circle, ……""यथ" / Respondent Ahmednagar. Assessee By : Shri Prasanna Joshi Revenue By : Shri Vitthal Bhosale सुनवाई क" तारीख / Date Of Hearing : 02.03.2021 घोषणा क" तारीख / Date Of Pronouncement : 03.03.2021 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)- 2, Pune (‘Cit(A)’ For Short) Dated 12.07.2017 Confirming The Levy Of Penalty U/S 271(1)(C) Of The Income Tax, Act, 1961 (‘The Act’ For Short) For The Assessment Year 2013-14. 2. Briefly, The Facts Of The Case Are That The Appellant Is Cooperative Society Engaged In The Business Of Milk Processing. The Appellant Society Filed The Return Of Income For The Assessment Year 2013-14 Through Electronically Mode On 22.09.2013 Disclosing Rs.Nil Income After Setting Off Of The Brought

For Appellant: Shri Prasanna JoshiFor Respondent: Shri Vitthal Bhosale
Section 143(3)Section 271(1)(c)

…d on the following decisions of the Hon’ble High Courts :- (i) CIT vs. Aero Traders Pvt. Ltd., 322 ITR 316 (Del); (ii) CIT vs. Parkash Industries Ltd., 322 ITR 622 (P&H); (iii) CIT vs. Vijay Kumar Jain, 325 ITR 378 (Chhattisgarh); and, (iv) CIT vs. S S P Ltd, 328 ITR 643 (P&H). 8. In the light of the above legal position, we are of the considered view that the impugned order of penalty cannot be sustained in the eyes of law. Accordingly, the orders of the lower authorities are set-aside and we direct the Assessing Officer to delete the penalty of Rs.4,43,000/- levied u/s 271(1)(c) of the Act. 4 9. In the result,…

SIVA INDUSTRIES AND HOLDINGS LIMITED,CHENNAI vs. DCIT, CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

ITA 1973/CHNY/2016[2010-11]Status: HeardITAT Chennai21 Jan 2020AY 2010-11

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

Section 250(6)

…ed that addition/disallowances are made on a subjective interpretation and there was no concealment of facts or furnishing inaccurate particulars of income. It has relied upon the decision of Hon’ble Supreme Court in the case of Reliance Petroproducts P. Ltd. 230 ITR 320. It has relied upon the decision of Hon’ble ITAT Chennai in its own case vide ITA No.120/Mds/2014 dated 21.03.2014 for AY 2007-08 wherein it is held that: “We hold that even the estimated disallowance u/s 14A has been made only on the basis of particulars furnished and not otherwise. In these circumstances, we observe that present is a case of me…

DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

ITA 1421/CHNY/2016[2008-2009]Status: DisposedITAT Chennai21 Jan 2020AY 2008-2009

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

Section 250(6)

…ed that addition/disallowances are made on a subjective interpretation and there was no concealment of facts or furnishing inaccurate particulars of income. It has relied upon the decision of Hon’ble Supreme Court in the case of Reliance Petroproducts P. Ltd. 230 ITR 320. It has relied upon the decision of Hon’ble ITAT Chennai in its own case vide ITA No.120/Mds/2014 dated 21.03.2014 for AY 2007-08 wherein it is held that: “We hold that even the estimated disallowance u/s 14A has been made only on the basis of particulars furnished and not otherwise. In these circumstances, we observe that present is a case of me…

DCIT, CHENNAI vs. SIVA VENTURES LIMITED, CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

ITA 663/CHNY/2015[2010-11]Status: DisposedITAT Chennai21 Jan 2020AY 2010-11

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

Section 250(6)

…ed that addition/disallowances are made on a subjective interpretation and there was no concealment of facts or furnishing inaccurate particulars of income. It has relied upon the decision of Hon’ble Supreme Court in the case of Reliance Petroproducts P. Ltd. 230 ITR 320. It has relied upon the decision of Hon’ble ITAT Chennai in its own case vide ITA No.120/Mds/2014 dated 21.03.2014 for AY 2007-08 wherein it is held that: “We hold that even the estimated disallowance u/s 14A has been made only on the basis of particulars furnished and not otherwise. In these circumstances, we observe that present is a case of me…

DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

ITA 1075/CHNY/2014[2009-10]Status: DisposedITAT Chennai21 Jan 2020AY 2009-10

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

Section 250(6)

…ed that addition/disallowances are made on a subjective interpretation and there was no concealment of facts or furnishing inaccurate particulars of income. It has relied upon the decision of Hon’ble Supreme Court in the case of Reliance Petroproducts P. Ltd. 230 ITR 320. It has relied upon the decision of Hon’ble ITAT Chennai in its own case vide ITA No.120/Mds/2014 dated 21.03.2014 for AY 2007-08 wherein it is held that: “We hold that even the estimated disallowance u/s 14A has been made only on the basis of particulars furnished and not otherwise. In these circumstances, we observe that present is a case of me…

ACIT, NEW DELHI vs. M/S. KYUNGSHIN INDUSTRIAL MOTHERSON LTD., NEW DELHI

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

ITA 3377/DEL/2014[2003-04]Status: DisposedITAT Delhi17 Oct 2018AY 2003-04

Bench: Sh. R.K. Panda & Ms. Suchitra Kambleassessment Year: 2003-04

Section 254Section 271Section 92C

…d fall under bonafide difference of opinion on debatable and contentious issues in respect of computation of the ALP of international transaction. The decision of Hon’ble Supreme Court in the case of CIT Vs. Reliance Petro Products Private Limited reported in 230 ITR 320 was also relied upon to the proposition that where the information given is not found to be inaccurate, assessee cannot be held guilty of furnishing inaccurate particulars of income for the purpose of levy of penalty u/s 271 (1) (c ) of the IT Act. Relying on various decisions it was argued that at no point of time in the transfer pricing order o…

ASST CIT 2(3), MUMBAI vs. SHIVGOPAL TRADING COMPANY P.LTD, MUMBAI

In the result, this appeal by the Revenue stands dismissed

ITA 7375/MUM/2013[2009-10]Status: DisposedITAT Mumbai12 Jul 2018AY 2009-10

Bench: Shri Shamim Yahya & Shri Ramlal Negi

For Appellant: Shri V. Justin-DR
Section 115JSection 143(3)Section 271Section 271(1)Section 271(1)(c)Section 54Section 54E

…llant has also cited a number of other decisions where it has been held that no concealment penalty can be levied in a case where a claim is made which is not sustainable in law [CIT Vs. Reliance Petro Products Pvt. Ltd, 189 Taxman 322 (SC); [CIT Vs. SSP Ltd, 328 ITR 643 (P & H)]. In other decisions, it has also been held that where an assessee has furnished all particulars of income, imposition of penalty is not automatic [Dilip N. Shroff, 291 ITR 519 (SC); Twin Star Jupiter Cooperative Housing Society Ltd, 31 SOT 474 (Mumbai); Enpake Motors Pvt. Ltd, ITA No. 9147Mum/2008]. It has also been held that where a leg…

A.C.I.T. CENTRAL CIRCLE-20, MUMBAI vs. ANKUR DRUGS & PHARMA LTD., MUMBAI

In the result appeal of the Revenue in I

ITA 7529/MUM/2011[2006-07]Status: DisposedITAT Mumbai27 Feb 2018AY 2006-07

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No. 7529/Mum/2011 (नििाारण वर्ा / Assessment Year: 2006-07)

For Appellant: Shri. Vijay MehtaFor Respondent: Shri. R.P Meena, CIT DR
Section 132(1)Section 139(1)Section 153ASection 271(1)(c)Section 80I

…addi,HP. The assessee relied on the following judgements:- a) CIT v. Reliance Petroproducts Ltd. (2010) 322 ITR 158(SC) b) CIT v. Dharmpal Premchand Ltd. (2010) 329 ITR 572 (Del) c) CIT v. Krishna Maruti Ltd. (2011) 330 ITR 547 (Del) d) CIT v. SSP Ltd. (2010) 328 ITR 643 (P&H) e) ITO v. Parikh Investment & Development P. Ltd. (2011) 43 SOT 537 Mumbai I.T.A. No. 7529/Mum/2011 f) Equest India P. Ltd v. Income Tax Officer (2011) 136 TTJ (Mumbai) g) Yogesh R. Desai v CIT (2010) 38 DTR (Mumbai) (Trib) 101 h) Glorious Realty P. Ltd. v. Income Tax Officer (2009) 29 SOT 292 (i) Suren Arvindbhai v. Income Tax Officer (2…

ASST CIT 2(3), MUMBAI vs. TRENDS HOLDING & CONSULTANCY P.LTD, MUMBAI

In the result the appeal of the appellant is allowed

ITA 7379/MUM/2013[2009-10]Status: DisposedITAT Mumbai28 Feb 2017AY 2009-10

Bench: Shri D. Karunakara Rao, Am & Shri Amarjit Singh, Jm आयकरअपीलसं/I.T.A. No.7379/Mum/2013 (िनधा"रणवष" / Assessment Year: 2009-10) बनाम/ Acit 2(3) M/S. Trends Holdings & R. No.552, 5Th Floor, Consultancy Pvt. Ltd. Vs. Aayakar Bhavan, M.K.Road, 11, Horizone View, 381, Mumbai – 400020 J. General Bhonsale Marg, Opp. Sachivalaya Gymkhana Mumbai - 400021 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaact3203D (अपीलाथ"/Appellant) (""थ" /Respondent) ..

For Appellant: Shri Vipul JoshiFor Respondent: Shri Sambit Mishra
Section 115JSection 143(3)Section 271(1)(c)

…आयकर अपीलीय अिधकरण, मुंबई "ायपीठ “ई‘’ मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL“E” BENCH, MUMBAI BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI AMARJIT SINGH, JM आयकरअपीलसं/I.T.A. No.7379/Mum/2013 (िनधा"रणवष" / Assessment Year: 2009-10) बनाम/ ACIT 2(3) M/s. Trends Holdings & R. No.552, 5th Floor, Consultancy Pvt. Ltd. Vs. Aayakar Bhavan, M.K.Road, 11, Horizone view, 381, Mumbai – 400020 J. General Bhonsale Marg, Opp. Sachivalaya Gymkhana Mumbai - 400021 "थायीलेखासं./जीआइआरसं./PAN/GIR No. AAACT3203D (अपीलाथ"/Appellant) (""थ" /Respondent) .. Revenue by: Shri Sambit Mishra Assessee by: Shri Vipul Joshi सुनवाईकीतारीख…