CIT v. Revathi Equipment Limited

298 ITR 67High Court2008#5251 most cited

What is CIT v. Revathi Equipment Limited authority for?

An assessee is not liable to pay interest for failure to pay advance tax when the tax liability arose due to a law amendment made after the end of the financial year.

22

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2016 to 2025.

Also referred to as

CIT v. Revathi Equipment Ltd · advance tax · interest · sections 234B · 234C · amendment to law · liability to pay tax

Sections most often in play

Section 143(3)Section 115BBESection 124(3)(b)Section 127Section 131(1A)Section 132Section 133(6)Section 144

Issues it is cited on

section 29section 133asection 263section 26section 69asection 153asection 132section 68section 142(1)section 143(2)section 15section 13

Judgments citing CIT v. Revathi Equipment Limited

Indian Petrochemical Corporation Ltd, Mumbai vs. Asst CIT Ltu, Mumbai

Appeals of the assessee are allowed

ITA 6513/MUM/2014[2003-04]Status: DisposedITAT Mumbai22 Jul 2016AY 2003-04

Bench: Shri G.S. Pannu & Shri Joginder Singh

For Appellant: Shri Arvind SondeFor Respondent: Shri A.K. Kardam
Section 115JSection 143(3)Section 154Section 234B

…001. The plea of the assessee is that in such a situation, interest u/s 234B of the Act is not chargeable and in support, he has relied upon various decisions as under :- i) Emami Ltd. v. CIT (2011), 63 DTR 301 (Cal) ii) CIT v. Revathi Equipment Ltd. (2008), 298 ITR 67 (Mad) iii) Trinity Forge v. ACIT (2001), 73 TTJ 582 (ITAT Pune) 4 Indian Petrochemicals Corporation ITA Nos. 6513 & 6514/Mum/2014 iv) Priyanka Overseas Ltd. v. DCIT (2001), 79 ITD 353 (Delhi ITAT) v) Hindson International v. ITO (2010), 133 TTJ 83 (Chd) vi) Canara Bank v. ITO (2009), 121 ITD 1 (Nagpur Bench) vii) DCIT v. Uttam Sugar Mills Ltd.…

Reliance Industries Ltd, Mumbai vs. Asst CIT Ltu, Mumbai

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

ITA 5247/MUM/2014[2005-06]Status: DisposedITAT Mumbai03 Jun 2016AY 2005-06

Bench: S/Shri B.R. Baskaran (Am) & Ramlal Negi (Jm)

Section 115JSection 154

…ook profit. The assessee has also placed reliance on the decision rendered by Hon’ble Karnataka High Court in the case of M/s Kirloskar Systems Ltd (supra), the decision rendered by Hon’ble Madras High Court in the case of CIT Vs. Revathi Equipment Ltd (2008)(298 ITR 67) and also on host of other decisions. 16. We heard Ld D.R on this issue and perused the case laws relied upon by the assessee. The various decisions relied upon by the assessee expresses the view that the assessee should be fastened with interest liability in respect of the addition made on the basis of subsequent amendment, since the assessee co…