CIT v. Sam Global Securities Ltd.

325 ITR 565High Court2010#1622 most cited

What is CIT v. Sam Global Securities Ltd. authority for?

When computing book profit under Section 115JA, amounts mentioned in the notes to accounts of financial statements must be considered, even if they are not directly debited to the profit and loss account.

70

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2015 to 2025.

Also referred to as

CIT v. Sam Global Securities Ltd. · CIT v. Sain Processing & Weaving Mills · Section 115JA · book profit computation · notes to accounts · financial statements · deferred revenue expenditure · Minimum Alternate Tax · MAT · profit and loss account · Delhi High Court

Also reported as

38 Taxmann.com 129

Sections most often in play

Section 143(3)Section 153ASection 153CSection 147Section 132Section 132(4)Section 148Section 143(1)

Issues it is cited on

section 32(1)(i)section 31(3)section 205section 211section 9(1)(ii)section 50(1)section 207waiver of loansection 23(5)section 158bb(1)section 43asection 115ja

Judgments citing CIT v. Sam Global Securities Ltd.

DCIT, CC-7(2), Mumbai vs. M/S. Patanjali Foods Ltd., ( Formerly Known As Ruchi Soya Industries Ltd, Mumbai

In the result, the appeal and cross objections of the assessee are

ITA 1176/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/S. Patanjali Foods Ltd Vs. (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross Objection No.51/Mum/2023 (Arising Out Of I.T. A. No. 1172/Mum/2023) (निर्धारण वर्ष / Assessment Year: 2010-11) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. बनाम / Dcit, Central Circle-7(2) Vs. Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. & आयकर अपील सं/ I.T. A. No. 320/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) बनाम / Vs. Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaci1220M 2

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…s. The same view has been upheld by the Hon'ble 47 ITA No.1172, 1175 & 1176/M/2023 ITA. No.320/Mum/2023 & CO No. 51/Mum/2023 A.Y Nos. 2010-11 & 2012-13 M/s. Patanjali Foods Ltd. Delhi High Court in the case of CIT v. Sain Processing & Weaving Mills (P.) Ltd. (325 ITR 565). 10.7 Our view is fortified by the judgment of the Hon'ble Karnataka High Court in the case of CIT v. Karnataka Soaps & Detergents Ltd. (59 taxmann.com 43), which allowed reduction of deferred revenue expenditure which was not debited to profit and loss account for purpose of computing book profit under section 115JA of the Act. The Hon'ble High…

DCIT, CC-7(2), Mumbai vs. M/S. Patanjali Foods Ltd., ( Formerly Known As Ruchi Soya Industries Ltd, Mumbai

ITA 1175/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/S. Patanjali Foods Ltd Vs. (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross Objection No.51/Mum/2023 (Arising Out Of I.T. A. No. 1172/Mum/2023) (निर्धारण वर्ष / Assessment Year: 2010-11) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. बनाम / Dcit, Central Circle-7(2) Vs. Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. & आयकर अपील सं/ I.T. A. No. 320/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) बनाम / Vs. Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaci1220M 2

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…fit under Section 115JA of the Act, taking into account the amount mentioned in the notes to accounts of these financial statements. The same view has been upheld by the Hon'ble Delhi High Court in the case of CIT v. Sain Processing & Weaving Mills (P.) Ltd. (325 ITR 565). 10.7 Our view is fortified by the judgment of the Hon'ble Karnataka High Court in the case of CIT v. Karnataka Soaps & Detergents Ltd. (59 taxmann.com 43), which allowed reduction of deferred revenue expenditure which was not debited to profit and loss account for purpose of computing book profit under section 115JA of the Act. The Hon'ble High…

DCIT, CC-7(2), Mumbai vs. M/S. Patanjali Foods Ltd., ( Formerly Known As Ruchi Soya Industries Ltd, Mumbai

In the result, the appeal and cross objections of the assessee are partly allowed and the appeals of the revenue are dismissed

ITA 1172/MUM/2023[2010-11]Status: DisposedITAT Mumbai05 Apr 2024AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13)

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…counts of these financial statements. The same view has been upheld by the Hon'ble ITA. No.320/Mum/2023 & CO No. 51/Mum/2023 A.Y Nos. 2010-11 & 2012-13 M/s. Patanjali Foods Ltd. Delhi High Court in the case of CIT v. Sain Processing & Weaving Mills (P.) Ltd. (325 ITR 565). 10.7 Our view is fortified by the judgment of the Hon'ble Karnataka High Court in the case of CIT v. Karnataka Soaps & Detergents Ltd. (59 taxmann.com 43), which allowed reduction of deferred revenue expenditure which was not debited to profit and loss account for purpose of computing book profit under section 115JA of the Act. The Hon'ble Hig…

Pandit Nathu Ram Gaur Charitable Trust, Khondli Krishna Nagar vs. ITO, Ward Exemption, 2(4), Civic Centre

Appeal of the assessee is allowed for statistical purposes

ITA 91/DEL/2024[2019-20]Status: DisposedITAT Delhi22 Mar 2024AY 2019-20

Bench: Shri Kul Bharatassessment Year: 2019-20

Section 11Section 12ASection 143(1)

…1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “SMC”: NEW DELHI BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER Assessment Year: 2019-20 Pandit Nathu Ram Gaur Charitable Vs Income-tax Officer (Exemption), Trust, 169, Khondli, Krishna Nagar, 2(4), New Delhi. Delhi-110051. PAN- AABTP1621K APPELLANT RESPONDENT Assessee represented by Shri R.S. Singhvi, CA & Shri Satyajeet Goel, CA Department represented by Shri Om Parkash, Sr. DR 20.03.2024 Date of hearing Date of pronouncement 22.03.2024 O R D E R PER KUL BHARAT, JM: This appeal, by the assessee, is directed against the order of the learned Commissioner of Income-t…

Technoforce Solutions (I) Private Limited, Nashik vs. Deputy Commissioner of Income Tax, Circle-1, Nashik

In the result, the appeal filed by the assessee stands partly allowed for statistical purposes

ITA 1381/PUN/2023[2015-16]Status: DisposedITAT Pune10 Jan 2024AY 2015-16

Bench: Shri Inturi Rama Rao & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.1381/Pun/2023 िनधा"रण वष" / Assessment Year: 2015-16 Technoforce Solutions (I) Vs. Dcit, Circle-1, Nashik. Private Limited, D-33/35, Midc Industrial Area, Ambad, Nashik- 422010. Pan : Aabct5257C Appellant Respondent Assessee By : Shri Dilip Bapat & Shri Milind Modak Revenue By : Shri M. G. Jasnani Date Of Hearing : 10.01.2024 Date Of Pronouncement : 10.01.2024 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of The National Faceless Appeal Centre, Delhi [‘Nfac’] Dated 16.11.2023 For The Assessment Year 2015-16. 2. The Appellant Raised The Following Grounds Of Appeal :- “On The Facts & Circumstances Of The Case & In Law, The Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre, Delhi Has Erred In Not Entertaining The Claim Of The Appellant For Deduction Of Service Tax Of Rs 40,82,852 Under Section 37 Of The Income Tax Act On The Ground That The Said Claim Was Not Made In The Return Of Income.

For Appellant: Shri Dilip Bapat &For Respondent: Shri M. G. Jasnani
Section 143(3)Section 37

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER आयकर अपील सं. / ITA No.1381/PUN/2023 िनधा"रण वष" / Assessment Year: 2015-16 Technoforce Solutions (I) Vs. DCIT, Circle-1, Nashik. Private Limited, D-33/35, MIDC Industrial Area, Ambad, Nashik- 422010. PAN : AABCT5257C Appellant Respondent Assessee by : Shri Dilip Bapat & Shri Milind Modak Revenue by : Shri M. G. Jasnani Date of hearing : 10.01.2024 Date of pronouncement : 10.01.2024 आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee…

ACIT, Circle-18(2), Noida vs. Noida Toll Bridge Co. Ltd., Noida

In the result, appeal of the assessee is allowed

ITA 4973/DEL/2018[2009-10]Status: DisposedITAT Delhi08 Aug 2023AY 2009-10

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri G.C. Srivastava, Adv
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E’ BENCH, NEW DELHI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND MS. ASTHA CHANDRA, JUDICIAL MEMBER SA No. 564/DEL/2018 [A/o ITA No.4410/DEL/2018 [A.Y. 2006-07]] SA No. 565/DEL/2018 [A/o ITA No.4411/DEL/2018 [A.Y. 2007-08]] SA No. 566/DEL/2018 [A/o ITA No.4412/DEL/2018 [A.Y. 2008-09]] SA No. 567/DEL/2018 [A/o ITA No.4413/DEL/2018 [A.Y. 2009-10]] SA No. 568/DEL/2018 [A/o ITA No.4415/DEL/2018 [A.Y. 2010-11]] SA No. 569/DEL/2018 [A/o ITA No.4417/DEL/2018 [A.Y. 2011-12]] & ITA No.4410/DEL/2018 [A.Y. 2006-07] ITA No.4411/DEL/2018 [A.Y. 2007-08] ITA No.4412/DEL/2018…

ACIT, Circle-18(2), Noida vs. Noida Toll Bridge Co. Ltd., Noida

In the result, appeal of the assessee is allowed

ITA 4972/DEL/2018[2011-12]Status: DisposedITAT Delhi08 Aug 2023AY 2011-12

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri G.C. Srivastava, Adv
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E’ BENCH, NEW DELHI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND MS. ASTHA CHANDRA, JUDICIAL MEMBER SA No. 564/DEL/2018 [A/o ITA No.4410/DEL/2018 [A.Y. 2006-07]] SA No. 565/DEL/2018 [A/o ITA No.4411/DEL/2018 [A.Y. 2007-08]] SA No. 566/DEL/2018 [A/o ITA No.4412/DEL/2018 [A.Y. 2008-09]] SA No. 567/DEL/2018 [A/o ITA No.4413/DEL/2018 [A.Y. 2009-10]] SA No. 568/DEL/2018 [A/o ITA No.4415/DEL/2018 [A.Y. 2010-11]] SA No. 569/DEL/2018 [A/o ITA No.4417/DEL/2018 [A.Y. 2011-12]] & ITA No.4410/DEL/2018 [A.Y. 2006-07] ITA No.4411/DEL/2018 [A.Y. 2007-08] ITA No.4412/DEL/2018…

ACIT, Circle-18(2), Noida vs. Noida Toll Bridge Co. Ltd., Noida

In the result, appeal of the assessee is allowed

ITA 4971/DEL/2018[2010-11]Status: DisposedITAT Delhi08 Aug 2023AY 2010-11

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri G.C. Srivastava, Adv
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E’ BENCH, NEW DELHI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND MS. ASTHA CHANDRA, JUDICIAL MEMBER SA No. 564/DEL/2018 [A/o ITA No.4410/DEL/2018 [A.Y. 2006-07]] SA No. 565/DEL/2018 [A/o ITA No.4411/DEL/2018 [A.Y. 2007-08]] SA No. 566/DEL/2018 [A/o ITA No.4412/DEL/2018 [A.Y. 2008-09]] SA No. 567/DEL/2018 [A/o ITA No.4413/DEL/2018 [A.Y. 2009-10]] SA No. 568/DEL/2018 [A/o ITA No.4415/DEL/2018 [A.Y. 2010-11]] SA No. 569/DEL/2018 [A/o ITA No.4417/DEL/2018 [A.Y. 2011-12]] & ITA No.4410/DEL/2018 [A.Y. 2006-07] ITA No.4411/DEL/2018 [A.Y. 2007-08] ITA No.4412/DEL/2018…

ACIT, Circle-18(2), Noida vs. Noida Toll Bridge Co. Ltd., Noida

In the result, appeal of the assessee is allowed

ITA 4970/DEL/2018[2008-09]Status: DisposedITAT Delhi08 Aug 2023AY 2008-09

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri G.C. Srivastava, Adv
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E’ BENCH, NEW DELHI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND MS. ASTHA CHANDRA, JUDICIAL MEMBER SA No. 564/DEL/2018 [A/o ITA No.4410/DEL/2018 [A.Y. 2006-07]] SA No. 565/DEL/2018 [A/o ITA No.4411/DEL/2018 [A.Y. 2007-08]] SA No. 566/DEL/2018 [A/o ITA No.4412/DEL/2018 [A.Y. 2008-09]] SA No. 567/DEL/2018 [A/o ITA No.4413/DEL/2018 [A.Y. 2009-10]] SA No. 568/DEL/2018 [A/o ITA No.4415/DEL/2018 [A.Y. 2010-11]] SA No. 569/DEL/2018 [A/o ITA No.4417/DEL/2018 [A.Y. 2011-12]] & ITA No.4410/DEL/2018 [A.Y. 2006-07] ITA No.4411/DEL/2018 [A.Y. 2007-08] ITA No.4412/DEL/2018…

ACIT, Circle-18(2), Noida vs. Noida Toll Bridge Co. Ltd., Noida

In the result, appeal of the assessee is allowed

ITA 4969/DEL/2018[2007-08]Status: DisposedITAT Delhi08 Aug 2023AY 2007-08

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri G.C. Srivastava, Adv
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E’ BENCH, NEW DELHI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND MS. ASTHA CHANDRA, JUDICIAL MEMBER SA No. 564/DEL/2018 [A/o ITA No.4410/DEL/2018 [A.Y. 2006-07]] SA No. 565/DEL/2018 [A/o ITA No.4411/DEL/2018 [A.Y. 2007-08]] SA No. 566/DEL/2018 [A/o ITA No.4412/DEL/2018 [A.Y. 2008-09]] SA No. 567/DEL/2018 [A/o ITA No.4413/DEL/2018 [A.Y. 2009-10]] SA No. 568/DEL/2018 [A/o ITA No.4415/DEL/2018 [A.Y. 2010-11]] SA No. 569/DEL/2018 [A/o ITA No.4417/DEL/2018 [A.Y. 2011-12]] & ITA No.4410/DEL/2018 [A.Y. 2006-07] ITA No.4411/DEL/2018 [A.Y. 2007-08] ITA No.4412/DEL/2018…

ACIT, Circle-18(2), Noida vs. Noida Toll Bridge Co. Ltd., Noida

In the result, appeal of the assessee is allowed

ITA 4968/DEL/2018[2006-07]Status: DisposedITAT Delhi08 Aug 2023AY 2006-07

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri G.C. Srivastava, Adv
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘E’ BENCH, NEW DELHI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND MS. ASTHA CHANDRA, JUDICIAL MEMBER SA No. 564/DEL/2018 [A/o ITA No.4410/DEL/2018 [A.Y. 2006-07]] SA No. 565/DEL/2018 [A/o ITA No.4411/DEL/2018 [A.Y. 2007-08]] SA No. 566/DEL/2018 [A/o ITA No.4412/DEL/2018 [A.Y. 2008-09]] SA No. 567/DEL/2018 [A/o ITA No.4413/DEL/2018 [A.Y. 2009-10]] SA No. 568/DEL/2018 [A/o ITA No.4415/DEL/2018 [A.Y. 2010-11]] SA No. 569/DEL/2018 [A/o ITA No.4417/DEL/2018 [A.Y. 2011-12]] & ITA No.4410/DEL/2018 [A.Y. 2006-07] ITA No.4411/DEL/2018 [A.Y. 2007-08] ITA No.4412/DEL/2018…

Income Tax Officer, Ward-1-1, Kota vs. Shri Chandi Ram, Kota

In the result, appeal of the revenue is dismissed

ITA 662/JPR/2018[2012-13]Status: DisposedITAT Jaipur14 Jun 2023AY 2012-13

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Sh. Siddharth Ranka (Adv.) &For Respondent: Smt Runi Pal (Addl. CIT)
Section 143(3)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Jh lanhi xkslkbZ]U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No.662/JP/2018 fu/kZkj.k o"kZ@Assessment Years : 2012-13 cuke Income Tax Officer, Late Shri Chandi Ram Vs. Ward-1(1), Kota Through L/H Smt. Sarla Devi A-20, Vallabh Nagar, Kota LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ABIPR 6234 N vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Sh. Siddharth Ranka (Adv.) & Sh.…

M/S. Bilcare Limited, Pune vs. Deputy Commissioner of Income Tax Central Circle-2(2), Pune

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

ITA 334/PUN/2021[2016-17]Status: DisposedITAT Pune31 May 2023AY 2016-17

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

For Appellant: Shri Kishor PhadkeFor Respondent: Shri Naveen Gupta
Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “C”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपीऱ सं. / ITA No.273/PUN/2021 निर्धारण वर्ा / Assessment Year: 2016-17 DCIT, Central Circle-2(2), Vs. M/s. Bilcare Limited, Pune. 601, ICC Trade Tower, Pune- 411016. PAN : AABCB2242F Appellant Respondent आयकर अपीऱ सं. / ITA No.334/PUN/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/s. Bilcare Limited, Vs. DCIT, Central Circle- 6th Floor, B Wing, ICC 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. PAN : AABCB2242F Appellant Respondent C.O. No…

Deputy Commissioner of Income Tax Central Circle-2(2), Pune vs. M/S. Bilcare Limited, Pune

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

ITA 273/PUN/2021[2016-17]Status: DisposedITAT Pune31 May 2023AY 2016-17

Bench: Shri Inturi Rama Rao & Shri S. S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.273/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 Dcit, Central Circle-2(2), Vs. M/S. Bilcare Limited, Pune. 601, Icc Trade Tower, Pune- 411016. Pan : Aabcb2242F Appellant Respondent आयकर अपीऱ सं. / Ita No.334/Pun/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/S. Bilcare Limited, Vs. Dcit, Central Circle- 6Th Floor, B Wing, Icc 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. Pan : Aabcb2242F Appellant Respondent

For Appellant: Shri Kishor PhadkeFor Respondent: Shri Naveen Gupta
Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “C”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपीऱ सं. / ITA No.273/PUN/2021 निर्धारण वर्ा / Assessment Year: 2016-17 DCIT, Central Circle-2(2), Vs. M/s. Bilcare Limited, Pune. 601, ICC Trade Tower, Pune- 411016. PAN : AABCB2242F Appellant Respondent आयकर अपीऱ सं. / ITA No.334/PUN/2021 निर्धारण वर्ा / Assessment Year: 2016-17 M/s. Bilcare Limited, Vs. DCIT, Central Circle- 6th Floor, B Wing, ICC 2(2), Pune. Trade Tower, Senapati Bapat Road, Pune- 411006. PAN : AABCB2242F Appellant Respondent C.O. No…

ACIT Central Cir6(4), Mumbai vs. M/S. Mariana Infrastructurte Ltd, Mumbai

In the result, the appeal of the assessee is dismissed

ITA 2395/MUM/2021[2017-18]Status: DisposedITAT Mumbai31 Oct 2022AY 2017-18

Bench: Shri Aby T Varkey & Shri Amarjit Singhthe Asstt. Commissioner Vs. Mariana Infrastructure Of Income Tax, Central Limited, M-62 &63, Circle -6(4) 1St Floor, Connaught Room No. 1925, 19Th Place, New Delhi Floor, Air India Building, 110 001 Nariman Point, Mumbai – 400021 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No: Aafcm2619H Appellant .. Respondent Appellant By : Ajay Chandra Respondent By : K. Gopal Date Of Hearing 13.10.2022 Date Of Pronouncement 31.10.2022 आदेश / O R D E R Per Amarjit Singh (Am): The Present Appeal Filed By The Revenue Is Directed Against The Order Passed By The Ld. Cit(A)-54, Mumbai Which In Turn Arises From The Order Passed By The A.O U/S 143(3) Of The Act. The Revenue Has Raised The Following Grounds Before Us: “1. Whether The Ld.Cit(A) Erred In Allowing The Claim Of Deduction Of Revenue Of Cancelled Transaction Of Rs.27,78,65,132/- Cancelled In Subsequent Year From The Book Profit Though Section 115Jb Is A Self-Contained Code Where Even The Additions & Deductions From The Book Profit Are Specified The Provisions Of Section 115Jb Des Not Allow Any Such Deductions?."

For Appellant: Ajay ChandraFor Respondent: K. Gopal
Section 115JSection 143(3)Section 194I

…m while computing book profit u/s 115JB of the Act. During the course of appellate proceedings before the ld. CIT(A) ld. CIT(A) has also considered the decision of Hon’ble Delhi High Court in the case of CIT(A) Vs. Sain Processing 7 Wvg. Mills (P) Ltd. (2010) 325 ITR 565 (Del). Further the ld. CIT(A) has also referred the case of Bata India Ltd. Vs. DCIT 111 taxman.com 453 wherein it is held that as per requirement of AS-15 the assesse is required to ascertain the liability towards employees benefits which should have been recognized till date and the liability which has already been recognized in the books of a…

Dy CIT Dd-4(2), Mumbai vs. M/S Sheth Developers P. Ltd., Mumbai

In the result, appeal of the Revenue in ITA No

ITA 12/MUM/2021[2017-18]Status: DisposedITAT Mumbai27 Jun 2022AY 2017-18
Section 143(3)Section 23(5)

…l include the notes' to the accounts giving information required under the said Act. Our aforesaid view is fortified by the judgment of the Hon'ble High Court of Delhi in the case of CIT v. Sain Processing and Wvg. Mills (P.) Ltd. [2009] 176 Taxman 448/[2010] 325 ITR 565 (Delhi). The Hon'ble High Court of Delhi in its aforesaid judgment observing that notes' to the accounts form part of the P & loss account by virtue of sub-s. (6) of s. 211 of the Companies Act, 1956, held as under: "4.8 Having said that, the issue still remains as to whether notes to accounts form part of the accounts, and whether the fact that…

Dy CIT Dd-4(2), Mumbai vs. M/S Sheth Developers P. Ltd., Mumbai

In the result, appeal of the Revenue in ITA No

ITA 11/MUM/2021[2015-16]Status: DisposedITAT Mumbai27 Jun 2022AY 2015-16
Section 143(3)Section 23(5)

…l include the notes' to the accounts giving information required under the said Act. Our aforesaid view is fortified by the judgment of the Hon'ble High Court of Delhi in the case of CIT v. Sain Processing and Wvg. Mills (P.) Ltd. [2009] 176 Taxman 448/[2010] 325 ITR 565 (Delhi). The Hon'ble High Court of Delhi in its aforesaid judgment observing that notes' to the accounts form part of the P & loss account by virtue of sub-s. (6) of s. 211 of the Companies Act, 1956, held as under: "4.8 Having said that, the issue still remains as to whether notes to accounts form part of the accounts, and whether the fact that…

Sheth Developers P. Ltd., Mumbai vs. ACIT Central Ciecle-4(2), Mumbai

In the result, appeal of the Revenue in ITA No

ITA 1954/MUM/2020[2017-18]Status: DisposedITAT Mumbai27 Jun 2022AY 2017-18
Section 143(3)Section 23(5)

…l include the notes' to the accounts giving information required under the said Act. Our aforesaid view is fortified by the judgment of the Hon'ble High Court of Delhi in the case of CIT v. Sain Processing and Wvg. Mills (P.) Ltd. [2009] 176 Taxman 448/[2010] 325 ITR 565 (Delhi). The Hon'ble High Court of Delhi in its aforesaid judgment observing that notes' to the accounts form part of the P & loss account by virtue of sub-s. (6) of s. 211 of the Companies Act, 1956, held as under: "4.8 Having said that, the issue still remains as to whether notes to accounts form part of the accounts, and whether the fact that…

M/S Sheth Developers P. Ltd., Mumbai vs. Dy CIT Central Circle- 4(2), Mumbai

In the result, appeal of the Revenue in ITA No

ITA 1953/MUM/2020[2015-16]Status: DisposedITAT Mumbai27 Jun 2022AY 2015-16
Section 143(3)Section 23(5)

…l include the notes' to the accounts giving information required under the said Act. Our aforesaid view is fortified by the judgment of the Hon'ble High Court of Delhi in the case of CIT v. Sain Processing and Wvg. Mills (P.) Ltd. [2009] 176 Taxman 448/[2010] 325 ITR 565 (Delhi). The Hon'ble High Court of Delhi in its aforesaid judgment observing that notes' to the accounts form part of the P & loss account by virtue of sub-s. (6) of s. 211 of the Companies Act, 1956, held as under: "4.8 Having said that, the issue still remains as to whether notes to accounts form part of the accounts, and whether the fact that…

Mars Telecom Systems Private Limited, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-16(2), Hyderabad

The appeal of the assessee is allowed for statistical purposes

ITA 421/HYD/2020[2016-17]Status: DisposedITAT Hyderabad31 May 2022AY 2016-17

Bench: Shri R.K. Panda & Shri Laliet Kumarassessment Year: 2016-17

For Appellant: Sri Sanjay Mutha, CAFor Respondent: Sri T. Sunil Gautam, DR
Section 43

…ITA No 421 of 2020 Mars Telecom Systems P Ltd Hyderabad IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘ A ‘ Bench, Hyderabad Before Shri R.K. Panda, Accountant Member AND Shri Laliet Kumar, Judicial Member Assessment Year: 2016-17 Mars Telecom Systems (P) Vs. A.C.I.T. Circle 16(2) Ltd, Hyderabad Hyderabad PAN:AADCM8136D (Appellant) (Respondent) Assessee by: Sri Sanjay Mutha, CA Revenue by: Sri T. Sunil Gautam, DR Date of hearing: 31/05/2022 Date of pronouncement: 31/05/2022 ORDER Per Laliet Kumar, J.M. This is assessee’s appeal for the A.Y 2016-17 against the order of the CIT (A)- 4, Hyderabad, dated 25…