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.

Jindal Steel & Power Ltd., New Delhi vs. Addl. CIT, Haryana

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

ITA 4185/DEL/2011[2008-09]Status: DisposedITAT Delhi01 Dec 2021AY 2008-09

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Date of Hearing
Section 115JSection 143(3)Section 234BSection 80H

…of an authority (other than the assessing officer) to consider fresh claim(s) made by the assessee: • CIT v. Jai Parabolic Springs Ltd.: 306 ITR 42 (Del. HC) • CIT v. Sam Global Securities Ltd: 360 ITR 682 (Del) • CIT v. Sain Processing & Wvg. Mills (P) Ltd.: 325 ITR 565 (Del) • CIT v. Ramco International: 332 ITR 306 (P&H) • CIT v. Pruthvi Brokers and Shareholders (P) Ltd.: 208 Taxman 498 (Bom.) • CIT v. Arvind Mills LTD: ITA No. 1407 of 2011 (Guj.) • CIT v. Aspentech India Pvt. Ltd.: ITA No. 1233/ 2011 (Del. HC) • JCIT v. Hero Honda Finlease Ltd.: 115 TTJ 752 (Del. ITAT) (Third Member) • Aishwarya Rai v. DCIT:…

DCIT, Hisar vs. Jindal Steel & Power Ltd., Hisar

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

ITA 4067/DEL/2011[2008-09]Status: DisposedITAT Delhi01 Dec 2021AY 2008-09

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Date of Hearing
Section 115JSection 143(3)Section 234BSection 80H

…of an authority (other than the assessing officer) to consider fresh claim(s) made by the assessee: • CIT v. Jai Parabolic Springs Ltd.: 306 ITR 42 (Del. HC) • CIT v. Sam Global Securities Ltd: 360 ITR 682 (Del) • CIT v. Sain Processing & Wvg. Mills (P) Ltd.: 325 ITR 565 (Del) • CIT v. Ramco International: 332 ITR 306 (P&H) • CIT v. Pruthvi Brokers and Shareholders (P) Ltd.: 208 Taxman 498 (Bom.) • CIT v. Arvind Mills LTD: ITA No. 1407 of 2011 (Guj.) • CIT v. Aspentech India Pvt. Ltd.: ITA No. 1233/ 2011 (Del. HC) • JCIT v. Hero Honda Finlease Ltd.: 115 TTJ 752 (Del. ITAT) (Third Member) • Aishwarya Rai v. DCIT:…

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

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

ITA 2280/DEL/2011[2007-08]Status: DisposedITAT Delhi01 Dec 2021AY 2007-08

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Date of Hearing
Section 115JSection 143(3)Section 234BSection 80H

…of an authority (other than the assessing officer) to consider fresh claim(s) made by the assessee: • CIT v. Jai Parabolic Springs Ltd.: 306 ITR 42 (Del. HC) • CIT v. Sam Global Securities Ltd: 360 ITR 682 (Del) • CIT v. Sain Processing & Wvg. Mills (P) Ltd.: 325 ITR 565 (Del) • CIT v. Ramco International: 332 ITR 306 (P&H) • CIT v. Pruthvi Brokers and Shareholders (P) Ltd.: 208 Taxman 498 (Bom.) • CIT v. Arvind Mills LTD: ITA No. 1407 of 2011 (Guj.) • CIT v. Aspentech India Pvt. Ltd.: ITA No. 1233/ 2011 (Del. HC) • JCIT v. Hero Honda Finlease Ltd.: 115 TTJ 752 (Del. ITAT) (Third Member) • Aishwarya Rai v. DCIT:…

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

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

ITA 2230/DEL/2011[2007-08]Status: DisposedITAT Delhi01 Dec 2021AY 2007-08

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Date of Hearing
Section 115JSection 143(3)Section 234BSection 80H

…of an authority (other than the assessing officer) to consider fresh claim(s) made by the assessee: • CIT v. Jai Parabolic Springs Ltd.: 306 ITR 42 (Del. HC) • CIT v. Sam Global Securities Ltd: 360 ITR 682 (Del) • CIT v. Sain Processing & Wvg. Mills (P) Ltd.: 325 ITR 565 (Del) • CIT v. Ramco International: 332 ITR 306 (P&H) • CIT v. Pruthvi Brokers and Shareholders (P) Ltd.: 208 Taxman 498 (Bom.) • CIT v. Arvind Mills LTD: ITA No. 1407 of 2011 (Guj.) • CIT v. Aspentech India Pvt. Ltd.: ITA No. 1233/ 2011 (Del. HC) • JCIT v. Hero Honda Finlease Ltd.: 115 TTJ 752 (Del. ITAT) (Third Member) • Aishwarya Rai v. DCIT:…

Jindal Steel & Power Ltd., Haryana vs. DCIT, Hisar

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

ITA 413/DEL/2010[2006-07]Status: DisposedITAT Delhi01 Dec 2021AY 2006-07

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Date of Hearing
Section 115JSection 143(3)Section 234BSection 80H

…of an authority (other than the assessing officer) to consider fresh claim(s) made by the assessee: • CIT v. Jai Parabolic Springs Ltd.: 306 ITR 42 (Del. HC) • CIT v. Sam Global Securities Ltd: 360 ITR 682 (Del) • CIT v. Sain Processing & Wvg. Mills (P) Ltd.: 325 ITR 565 (Del) • CIT v. Ramco International: 332 ITR 306 (P&H) • CIT v. Pruthvi Brokers and Shareholders (P) Ltd.: 208 Taxman 498 (Bom.) • CIT v. Arvind Mills LTD: ITA No. 1407 of 2011 (Guj.) • CIT v. Aspentech India Pvt. Ltd.: ITA No. 1233/ 2011 (Del. HC) • JCIT v. Hero Honda Finlease Ltd.: 115 TTJ 752 (Del. ITAT) (Third Member) • Aishwarya Rai v. DCIT:…

DCIT, Hisar vs. Jindal Steel & Power Ltd., Hisar

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

ITA 341/DEL/2010[2006-07]Status: DisposedITAT Delhi01 Dec 2021AY 2006-07

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Date of Hearing
Section 115JSection 143(3)Section 234BSection 80H

…of an authority (other than the assessing officer) to consider fresh claim(s) made by the assessee: • CIT v. Jai Parabolic Springs Ltd.: 306 ITR 42 (Del. HC) • CIT v. Sam Global Securities Ltd: 360 ITR 682 (Del) • CIT v. Sain Processing & Wvg. Mills (P) Ltd.: 325 ITR 565 (Del) • CIT v. Ramco International: 332 ITR 306 (P&H) • CIT v. Pruthvi Brokers and Shareholders (P) Ltd.: 208 Taxman 498 (Bom.) • CIT v. Arvind Mills LTD: ITA No. 1407 of 2011 (Guj.) • CIT v. Aspentech India Pvt. Ltd.: ITA No. 1233/ 2011 (Del. HC) • JCIT v. Hero Honda Finlease Ltd.: 115 TTJ 752 (Del. ITAT) (Third Member) • Aishwarya Rai v. DCIT:…

ACIT, Hisar vs. M/S Jindal Steel & Power Ltd., Hisar

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

ITA 220/DEL/2009[2003-04]Status: DisposedITAT Delhi01 Dec 2021AY 2003-04

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Date of Hearing
Section 115JSection 143(3)Section 234BSection 80H

…of an authority (other than the assessing officer) to consider fresh claim(s) made by the assessee: • CIT v. Jai Parabolic Springs Ltd.: 306 ITR 42 (Del. HC) • CIT v. Sam Global Securities Ltd: 360 ITR 682 (Del) • CIT v. Sain Processing & Wvg. Mills (P) Ltd.: 325 ITR 565 (Del) • CIT v. Ramco International: 332 ITR 306 (P&H) • CIT v. Pruthvi Brokers and Shareholders (P) Ltd.: 208 Taxman 498 (Bom.) • CIT v. Arvind Mills LTD: ITA No. 1407 of 2011 (Guj.) • CIT v. Aspentech India Pvt. Ltd.: ITA No. 1233/ 2011 (Del. HC) • JCIT v. Hero Honda Finlease Ltd.: 115 TTJ 752 (Del. ITAT) (Third Member) • Aishwarya Rai v. DCIT:…

Jindal Steel & Power Limited vs. Addl. CIT

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

ITA 167/DEL/2009[2003-04]Status: DisposedITAT Delhi01 Dec 2021AY 2003-04

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Date of Hearing
Section 115JSection 143(3)Section 234BSection 80H

…of an authority (other than the assessing officer) to consider fresh claim(s) made by the assessee: • CIT v. Jai Parabolic Springs Ltd.: 306 ITR 42 (Del. HC) • CIT v. Sam Global Securities Ltd: 360 ITR 682 (Del) • CIT v. Sain Processing & Wvg. Mills (P) Ltd.: 325 ITR 565 (Del) • CIT v. Ramco International: 332 ITR 306 (P&H) • CIT v. Pruthvi Brokers and Shareholders (P) Ltd.: 208 Taxman 498 (Bom.) • CIT v. Arvind Mills LTD: ITA No. 1407 of 2011 (Guj.) • CIT v. Aspentech India Pvt. Ltd.: ITA No. 1233/ 2011 (Del. HC) • JCIT v. Hero Honda Finlease Ltd.: 115 TTJ 752 (Del. ITAT) (Third Member) • Aishwarya Rai v. DCIT:…

Xerox India Ltd., Gurgaon vs. ACIT, New Delhi

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

ITA 3618/DEL/2017[2003-04]Status: DisposedITAT Delhi28 Jul 2021AY 2003-04
For Appellant: Shri Ajay Wadhwa, AdvocateFor Respondent: Shri Shashi Bhusan Shukla, CIT, DR
Section 139(5)Section 143(3)Section 234BSection 250(6)Section 271(1)(c)Section 43BSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : I-2 : NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SHRI KUL BHARAT, JUDICIAL MEMBER Assessment Year: 2003-04 Xerox India Ltd., Vs ACIT, 5th Floor, Block 1, Central Circle-20, Vatika Business Park, New Delhi. Sector-49, Sohna Road, Gurgaon. PAN: AAACM8634R (Appellant) (Respondent) Assessee by : Shri Ajay Wadhwa, Advocate Revenue by : Shri Shashi Bhusan Shukla, CIT, DR Date of Hearing : 15.07.2021 Date of Pronouncement : 28.07.2021 ORDER PER R.K. PANDA, AM: This appeal filed by the assessee is directed against the order dated 21st February, 2017 of th…

DCIT-11(1)(2), Mumbai vs. M/S. Sangam India Ltd., Mumbai

Appeal stand dismissed whereas the assessee‟s appeal stands partly allowed for statistical purposes

ITA 1490/MUM/2019[2015-16]Status: DisposedITAT Mumbai26 Jul 2021AY 2015-16

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आयकरअपील िं./ I.T.A. No.1490/Mum/2019 (धििाारण वर्ा / Assessment Year: 2015-16) Dcit-11(1)(2) M/S. Sangam India Ltd. Gf, Room No.1 306, „B‟ Wing बिाम/ Aaykar Bhavan, M.K. Road Dynasty Business Park Vs. Mumbai-400 020 J.B. Nagar, A.K. Road Andheri (E), Mumbai-400 059 स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No. Aaccs-0486-K (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : & Co No.01/Mum/2021 (धििाारण वर्ा / Assessment Year: 2015-16) M/S. Sangam India Ltd. Dcit-11(1)(2) 306, „B‟Wing Gf, Room No.1 बिाम/ Dynasty Business Park Aaykar Bhavan, M.K. Road Vs. J.B. Nagar, A.K. Road Mumbai-400 020 Andheri (E), Mumbai-400 059 स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No. Aaccs-0486-K (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Assessee By : Shri Dharmesh Shah-Ld. Ar Revenue By : Shri Ajit Kumar Shrivastava-Ld. Cit-Dr ुनवाई की तारीख/ : 02/07/2021 Date Of Hearing घोषणा की तारीख / : 26/07/2021 Date Of Pronouncement

For Appellant: Shri Dharmesh Shah-Ld. ARFor Respondent: Shri Ajit Kumar Shrivastava-Ld
Section 2(24)

…been computed after taking into the account the depreciation so adjusted against the general reserves in the Balance Sheet. For the same, Ld. AR referred to the decision of Hon‟ble Delhi High Court in the case of CIT v. Sain Processing & Wvg. Mills (P) Ltd. {325 ITR 565 (Del)} wherein the Hon‟ble Court has allowed current year‟s depreciation, though not charged to profit and loss account but disclosed in the notes to accounts. Similar is stated to be ratio of Kolkata Tribunal in the case of Bata India Ltd. v. DCIT (180 ITD 464). The copies of the decisions have been placed on record. 13.2 We find strength in the…

Hero Motocrop Ltd., New Delhi vs. ACIT, Circle- 11(1), New Delhi

The appeal of the assessee is partly allowed

ITA 9187/DEL/2019[2015-16]Status: DisposedITAT Delhi13 Apr 2021AY 2015-16

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2015-16

Section 115JSection 143(3)Section 144CSection 145ASection 80ISection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘I-1’ NEW DELHI (Through Video Conferencing) BEFORE SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER & SHRI O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2015-16 Hero Motocorp Ltd. Vs. ACIT 34, Community Centre, Circle-11(1) Basant Lok, Vasant Vihar, New Delhi. New Delhi. PAN - AAACH0812J Assessee by Shri Ajay Vohra, Sr. Adv. Shri Gaurav Jain, Adv. Ms. Monisha Sharma, Adv. Revenue by Shri Surenderpal, CIT DR Date of Hearing 15.01.2021 Date of Pronouncement 13.04.2021 ORDER PER SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER: This appeal is filed against the assessment orde…

M/S Golden Gate Properties Ltd vs. Deputy Commissioner of Income Tax

In the result, the impugned order passed by the tribunal

ITA/258/2016HC Karnataka04 Mar 2021

Bench: ALOK ARADHE,ASHOK S.KINAGI

Section 115JSection 143(1)Section 260Section 260ASection 5Section 80I

…liance has been placed on decisions in 'TAMIL NADU CEMENTS CORPORATION LTD. VS. JCIT', (2012) 349 ITR 58 (MADRAS), 'CIT VS. KHAITAN CHEMICALS & FERTILIZERS LTD', (2008) 307 ITR 150 (DELHI), 'CIT VS. SAIN PROCESSING & WVG. 8 MILLS P. LTD.', (2010) 325 ITR 565 (DELHI), 'CIT VS. KARNATAKA SOAPS & DETERGENTS LTD', (2015) 59 TAXMANN.COM 43 (KAR.) AND 'CIT (LTU) VS. SANSERA ENGG. (P.) LTD.', (2016) 386 ITR 349 (KAR.). 4. On the other hand, learned counsel for the revenue submitted that the tribunal has merely remitted the matter to the Commissioner of Income Tax (Appeals) and has not recorded any…

Batliboi Ltd, Mumbai vs. DCIT Cir 2(1), Mumbai

In the result, appeal of the assessee is allowed in part

ITA 5428/MUM/2015[2011-12]Status: DisposedITAT Mumbai17 Feb 2021AY 2011-12

Bench: Shri M.Balaganesh, Am & Shri Pavan Kumar Gadale, Jm M/S. Batliboi Limited Vs. Dy. Cit, Circle 2(1) Bharat House, Aayakar Bhavan 5Th Floor, 104 5Th Floor, Mumbai-400001 Mumbai Samachar Marg Fort, Mumbai -400 001 Pan/Gir No. Aaacb4408L (Appellant) .. (Respondent)

Section 115JSection 143(3)Section 40A

…ok profit and it has been shown out of abundant precaution to avoid any amount of interest or penalty. In support of his contention, he relied upon the decision of Hon'ble Delhi High Court in the case of CIT v. Sain Processing & Weaving Mills (P.) Ltd. [2010] 325 ITR 565/[2009] 176 28 M/s. Batliboi Limited Taxman 448. In the case before the Hon'ble Delhi High Court, the assessee did not charge depreciation to the Profit & Loss account, but disclosed the same in the Notes forming part of accounts. However, while computing book profit u/s 115J of the Act, it claimed the amount of depreciation as deduction from th…

P.Venkata Ramana Reddy, Hyderabad vs. Dy. Commissioner of Income Tax, Circle-14(1), Hyderabad

In the result, appeal of the assessee is treated as allowed for statistical purposes

ITA 1396/HYD/2019[2015-16]Status: DisposedITAT Hyderabad03 Feb 2021AY 2015-16

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony(Through Virtual Conference)

For Appellant: Shri P. Murali Mohan RaoFor Respondent: Shri Sunil Kumar Pandey
Section 143(1)Section 143(2)Section 143(3)Section 271(1)(c)Section 292BSection 44A

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B” : HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER (THROUGH VIRTUAL CONFERENCE) ITA Nos. 1395 & 1396/Hyd/2019 Assessment Year: 2015-16 P. Venkata Ramana Reddy, Asst. Commissioner of Hyderabad. Vs Income-tax, Circle – 14(1), Hyderabad. PAN – ADFPP 2181 F (Appellant) (Respondent) For Assessee : Shri P. Murali Mohan Rao For Revenue : Shri Sunil Kumar Pandey Date of Hearing : 25-11-2020 Date of Pronouncement : 03-02-2021 O R D E R PER P. MADHAVI DEVI, J.M. : Both are assessee’s appeals for AY 2015-16. I…

P.Venkata Ramana Reddy, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-14(1), Hyderabad

In the result, appeal of the assessee is treated as allowed for statistical purposes

ITA 1395/HYD/2019[2015-16]Status: DisposedITAT Hyderabad03 Feb 2021AY 2015-16

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony(Through Virtual Conference)

For Appellant: Shri P. Murali Mohan RaoFor Respondent: Shri Sunil Kumar Pandey
Section 143(1)Section 143(2)Section 143(3)Section 271(1)(c)Section 292BSection 44A

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B” : HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER (THROUGH VIRTUAL CONFERENCE) ITA Nos. 1395 & 1396/Hyd/2019 Assessment Year: 2015-16 P. Venkata Ramana Reddy, Asst. Commissioner of Hyderabad. Vs Income-tax, Circle – 14(1), Hyderabad. PAN – ADFPP 2181 F (Appellant) (Respondent) For Assessee : Shri P. Murali Mohan Rao For Revenue : Shri Sunil Kumar Pandey Date of Hearing : 25-11-2020 Date of Pronouncement : 03-02-2021 O R D E R PER P. MADHAVI DEVI, J.M. : Both are assessee’s appeals for AY 2015-16. I…

M/S. Jindal World Wide Ltd., Ahmedabad vs. The ACIT, Circle-2(1)(2), Ahmedabadq

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

ITA 2316/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad20 Nov 2020AY 2014-15

Bench: Shri Mahavir Prasad & Shri Amarjit Singh) (Through Virtual Court)

For Appellant: Shri Vartik Choksi, ARFor Respondent: Shri Lalit P. Jain, Sr. D.R
Section 115JSection 143(3)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “C” BENCH (BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER) (Through Virtual Court) ITA. No: 2316/AHD/2018 (Assessment Year: 2014-15) M/s Jindal World Wide V/S ACIT, Circle-2(1)(2), Ltd. Jindal Corporate Ahmedabad House, Opp. D Mart, Shyamal Shivranjini Cross Road, Satellite, Ahmedabad (Appellant) (Respondent) PAN: AAACJ3816G Appellant by : Shri Vartik Choksi, AR Respondent by : Shri Lalit P. Jain, Sr. D.R. (आदेश)/ORDER Date of hearing : 23 -10-2020 Date of Pronouncement : 24 -11-2020 PER MAHAVIR PRASAD, JUDICIAL MEM…

M/S Ratna Commercial Enterprises Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the assessee is allowed

ITA 280/DEL/2016[2009-10]Status: DisposedITAT Delhi03 Sept 2019AY 2009-10

Bench: Shri O.P. Kant & Shri K. Narasimha Chary

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri S.S. Rana, CIT DR
Section 115JSection 14ASection 271(1)(c)Section 45

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’ NEW DLEHI BEFORE SHRI O.P. KANT, ACCOUNTANT MEMBER AND SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER I.T.A. No.280/Del/2016 Assessment Year: 2009-10 Ratna Commercial Enterprises P. Ltd. vs DCIT, Circle –15(1), 4th Floor, Punjabi Bhavan, New Delhi. 10 Rouse Avenue, New Delhi. (PAN: AAACR0354B) New Delhi (Appellant) (Respondent) Appellant by: Shri M.P. Rastogi, Advocate Respondent by: Shri S.S. Rana, CIT DR Date of hearing: 18.07.2019 Date of Pronouncement: 03.09.2019 ORDER PER K. NARASIMHA CHARY, JM Challenging the order dated 04.12.2015 of the learned Commission…

M/S Gmr Energy Trading Limited, Bangalore vs. Deputy Commissioner of Income Tax Circle-3(1)(2), Bangalore

In the result, the appeal filed by the assessee is treated as allowed for statistical purposes

ITA 2065/BANG/2018[2015-16]Status: DisposedITAT Bangalore20 Nov 2018AY 2015-16

Bench: Shri N.V.Vasudevan & Shri Inturi Rama Raom/S.Gmr Energy Trading Ltd., 25/1, Skip House, Museum Road, Bengaluru-560 025. … Appellant Pan:Aadcg0771C Vs. Deputy Commissioner Of Income-Tax, Circle 3(1)(2), Bengaluru. … Respondent Appellant By : Shri Sunil Jain, Ca. Respondent By : Dr. P.V.Pradeep Kumar, Addl.Cit(Dr)

For Appellant: Shri Sunil Jain, CAFor Respondent: Dr. P.V.Pradeep Kumar, Addl.CIT(DR)
Section 115Section 251(1)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, BENGALURU BEFORE SHRI N.V.VASUDEVAN, VICE PRESIDENT and SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER M/s.GMR Energy Trading Ltd., 25/1, Skip House, Museum Road, Bengaluru-560 025. … Appellant PAN:AADCG0771C Vs. Deputy Commissioner of Income-tax, Circle 3(1)(2), Bengaluru. … Respondent Appellant by : Shri Sunil Jain, CA. Respondent by : Dr. P.V.Pradeep Kumar, Addl.CIT(DR) Date of hearing : 14/11/2018 Date of pronouncement : 20/11/2018 O R D E R Per INTURI RAMA RAO, AM : This is an appeal filed by the assessee directed against the order of the ld. Commissioner of Incom…

M/S Karnataka Co-Operative Oil Seeds Grower'S Federation Ltd, Bangalore vs. Assistant Commissioner of Income Tax Circle-8(1), Bangalore

In the result, the appeal filed by the assessee is treated as allowed for statistical purposes

ITA 494/BANG/2018[2010-11]Status: DisposedITAT Bangalore10 Oct 2018AY 2010-11

Bench: Shri N.V.Vasudevan & Shri Inturi Rama Raokarnataka Co-Operative Oil Seeds Growers Federation Ltd., No.11, Blue Cross Chambers, Infantry Road Cross, Bengaluru-560 001. … Appellant Pan:Aaak 1189 M Vs. Asst. Commissioner Of Income-Tax, Circle 8(1), Bengaluru. … Respondent Appellant By : None Respondent By : Smt.Nandini Das, Addl.Cit(Dr) Date Of Hearing : 04/10/2018 Date Of Pronouncement : 10/10/2018 O R D E R Per Inturi Rama Rao, Am :

For Appellant: NoneFor Respondent: Smt.Nandini Das, Addl.CIT(DR)
Section 251(1)(a)Section 254Section 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, BENGALURU BEFORE SHRI N.V.VASUDEVAN, JUDICIAL MEMBER and SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER Karnataka Co-operative Oil seeds growers Federation Ltd., No.11, Blue Cross Chambers, Infantry Road Cross, Bengaluru-560 001. … Appellant PAN:AAAK 1189 M Vs. Asst. Commissioner of Income-tax, Circle 8(1), Bengaluru. … Respondent Appellant by : None Respondent by : Smt.Nandini Das, Addl.CIT(DR) Date of hearing : 04/10/2018 Date of pronouncement : 10/10/2018 O R D E R Per INTURI RAMA RAO, AM : This is an appeal filed by the assessee-co-operative society directed against…

Assistant Commissioner of Income-Tax, Bangalore vs. M/S.Karnataka State Financial Corporation Ltd., Bangalore

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

ITA 1604/BANG/2016[2009-10]Status: DisposedITAT Bangalore13 Apr 2018AY 2009-10

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Raoasst. Commissioner Of Income-Tax, Circle 4(1)(1), Bengaluru. … Appellant Vs. Karnataka State Financial Corporation Ltd. ‘Ksfc Bhavan’, No.1/1, Thimmaiah Road, Near Cantonment Railway Station, Bengaluru. … Respondent Pan:Aaack 9480 H Appellant By : Shri A.C.Raju, Ca. Respondent By : Shri B.R.Ramesh, Jcit(Dr) Date Of Hearing : 18/01/2018 Date Of Pronouncement : 13/04/2018 O R D E R Per Inturi Rama Rao, Am : This Is An Appeal Filed By The Revenue Directed Against The Order Of The Learned Commissioner Of Income-Tax (Appeals)-12, Bengaluru, [Cit(A)], Dated 28/06/2016 For The Assessment Year 2009-10. 2. Briefly Facts Of The Case Are As Under: The Respondent-Assessee Is An Undertaking Of Government Of Karnataka Set Up For The Purpose Of Providing Finance To Industries In The State Of Karnataka. The Return Of Income For The Assessment Year 2009-10 Was Filed On 30/09/2009. Against The Said Return Of Income, The Assessment Was Completed By Order Dated 28/11/2011 Passed U/S 143(3) Of The Income-Tax Act, 1961 [Hereinafter Referred To As 'The Act' For Short] At Loss Of Rs.3,58,95,3461/. While Doing So, The Ao Disallowed A Sum Of Rs.34,17,548/- Invoking The Provisions Of Section 14A Of The Act, Legal & Professional Charges In Page 2 Of 8 Connection With Issue Of Bonds Of Rs.41,79,935/-, Also Not Allowed The Claim For Deduction Of Rs.548.64 Lakhs Being The Liability Arising On Account Rejection By Government Of Karnataka On The Ground That The Claim Was Not Made In The Original Return Of Income.

For Appellant: Shri A.C.Raju, CAFor Respondent: Shri B.R.Ramesh, JCIT(DR)
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BENGALURU BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER and SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER Asst. Commissioner of Income-tax, Circle 4(1)(1), Bengaluru. … Appellant Vs. Karnataka State Financial Corporation Ltd. ‘KSFC Bhavan’, No.1/1, Thimmaiah Road, Near Cantonment Railway Station, Bengaluru. … Respondent PAN:AAACK 9480 H Appellant by : Shri A.C.Raju, CA. Respondent by : Shri B.R.Ramesh, JCIT(DR) Date of hearing : 18/01/2018 Date of pronouncement : 13/04/2018 O R D E R Per INTURI RAMA RAO, AM : This is an appeal filed by the revenue directed against the o…