CIT v. Shri Ram Pistons and Rings Ltd.

220 CTR 404High Court2008#1520 most cited

What is CIT v. Shri Ram Pistons and Rings Ltd. authority for?

The Income Tax Department should not expend significant time and energy on tax-neutral issues that do not affect the overall tax collection, particularly when determining the year of taxability of income where tax rates remain constant.

75

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2009 to 2025.

Also referred to as

CIT v. Shri Ram Pistons and Rings Ltd. · tax neutral issues · year of taxability · departmental energy · section 143(3) · section 142(1) · section 132(4) · CIT v. Nagri Mills Co. Ltd. · CIT v. Triveni Engg. & Industries Ltd.

Also reported as

174 Taxmann 147

Sections most often in play

Section 143(3)Section 142(1)Section 143(2)Section 127Section 132(4)Section 132(4A)Section 133(6)Section 133A

Issues it is cited on

section 36(i)(va)true and full disclosuresection 153(a)retraction of statementsection 145(2)retracted statementproject completion methodcorporate guaranteestatement under section 132(4)written down valuepercentage completion methodput to use

Judgments citing CIT v. Shri Ram Pistons and Rings Ltd.

Dlf Ltd., New Delhi vs. Addl. CIT, New Delhi

ITA 4061/DEL/2013[2009-10]Status: DisposedITAT Delhi10 Sept 2020AY 2009-10

Bench: Sh. Prashant Maharishi & Sh. K. Narashimha Chary(Through Video Conferencing) Assessment Year: 2009-10 Dlf Limited Addl. Cit Dlf Centre, (9Th Floor) Vs Range-10 Sansad Marg, 404, C. R. Building New Delhi-110001 New Delhi Pan No.Aaacd3494N (Appellant) (Respondent) Dcit Vs. Dlf Ltd. Circle –7 (1) Sansad Marg New Delhi New Delhi Pan No. Aaacd3494N (Appellant) (Respondent)

Section 14ASection 23(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH „B‟, NEW DELHI BEFORE SH. PRASHANT MAHARISHI, ACCOUNTANT MEMBER AND SH. K. NARASHIMHA CHARY, JUDICIAL MEMBER (Through Video Conferencing) Assessment Year: 2009-10 DLF Limited Addl. CIT DLF Centre, (9th Floor) Vs Range-10 Sansad Marg, 404, C. R. Building New Delhi-110001 New Delhi PAN No.AAACD3494N (APPELLANT) (RESPONDENT) DCIT Vs. DLF Ltd. Circle –7 (1) Sansad Marg New Delhi New Delhi PAN No. AAACD3494N (APPELLANT) (RESPONDENT) Appellant by Sh. R. S. Singhvi, CA Sh. Satyajeet, CA Respondent by Ms. Nidhi Srivastava, CIT DR Last Date of hearing: 14/08/2020 Date of P…

DCIT, Circle- 7(1), New Delhi vs. Dlf Brands Ltd., New Delhi

In the result, both the appeals of the revenue are dismissed and Cross Objection of the assessee is allowed

ITA 4152/DEL/2017[2012-13]Status: DisposedITAT Delhi13 Dec 2019AY 2012-13

Bench: Sh. H. S. Sidhudr. B. R. R. Kumarita No. 4151/Del/2017 : Asstt. Year : 2011-12 Ita No. 4152/Del/2017 : Asstt. Year : 2012-13 Deputy Commissioner Of Income Vs M/S Dlf Brands Ltd., Tax, Circle-7(1), 1-E, Naaz Cinema Complex, New Delhi Jhandewalan Extension, New Delhi-55 (Appellant) (Respondent) Pan No. Aafca7971E Co No. 196/Del/2017 (In Ita No. 4151/Del/2017 : Asstt. Year : 2011-12) M/S Dlf Brands Ltd., Vs Deputy Commissioner Of Income 1-E, Naaz Cinema Complex, Tax, Circle-7(1), Jhandewalan Extension, New Delhi New Delhi-55 (Appellant) (Respondent) Pan No. Aafca7971E Assessee By : Sh. R. S. Singhvi, Ca Revenue By : Ms. Ashima Neb, Sr. Dr Date Of Hearing: 10.12.2019 Date Of Pronouncement: 13.12.2019

For Appellant: Sh. R. S. Singhvi, CAFor Respondent: Ms. Ashima Neb, Sr. DR
Section 14ASection 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI Before Sh. H. S. Sidhu, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 4151/Del/2017 : Asstt. Year : 2011-12 ITA No. 4152/Del/2017 : Asstt. Year : 2012-13 Deputy Commissioner of Income Vs M/s DLF Brands Ltd., Tax, Circle-7(1), 1-E, Naaz Cinema Complex, New Delhi Jhandewalan Extension, New Delhi-55 (APPELLANT) (RESPONDENT) PAN No. AAFCA7971E CO No. 196/Del/2017 (in ITA No. 4151/Del/2017 : Asstt. Year : 2011-12) M/s DLF Brands Ltd., Vs Deputy Commissioner of Income 1-E, Naaz Cinema Complex, Tax, Circle-7(1), Jhandewalan Extension, New…

DCIT, Circle- 7(1), New Delhi vs. Dlf Brands Ltd., New Delhi

In the result, both the appeals of the revenue are dismissed and Cross Objection of the assessee is allowed

ITA 4151/DEL/2017[2011-12]Status: DisposedITAT Delhi13 Dec 2019AY 2011-12

Bench: Sh. H. S. Sidhudr. B. R. R. Kumarita No. 4151/Del/2017 : Asstt. Year : 2011-12 Ita No. 4152/Del/2017 : Asstt. Year : 2012-13 Deputy Commissioner Of Income Vs M/S Dlf Brands Ltd., Tax, Circle-7(1), 1-E, Naaz Cinema Complex, New Delhi Jhandewalan Extension, New Delhi-55 (Appellant) (Respondent) Pan No. Aafca7971E Co No. 196/Del/2017 (In Ita No. 4151/Del/2017 : Asstt. Year : 2011-12) M/S Dlf Brands Ltd., Vs Deputy Commissioner Of Income 1-E, Naaz Cinema Complex, Tax, Circle-7(1), Jhandewalan Extension, New Delhi New Delhi-55 (Appellant) (Respondent) Pan No. Aafca7971E Assessee By : Sh. R. S. Singhvi, Ca Revenue By : Ms. Ashima Neb, Sr. Dr Date Of Hearing: 10.12.2019 Date Of Pronouncement: 13.12.2019

For Appellant: Sh. R. S. Singhvi, CAFor Respondent: Ms. Ashima Neb, Sr. DR
Section 14ASection 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI Before Sh. H. S. Sidhu, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 4151/Del/2017 : Asstt. Year : 2011-12 ITA No. 4152/Del/2017 : Asstt. Year : 2012-13 Deputy Commissioner of Income Vs M/s DLF Brands Ltd., Tax, Circle-7(1), 1-E, Naaz Cinema Complex, New Delhi Jhandewalan Extension, New Delhi-55 (APPELLANT) (RESPONDENT) PAN No. AAFCA7971E CO No. 196/Del/2017 (in ITA No. 4151/Del/2017 : Asstt. Year : 2011-12) M/s DLF Brands Ltd., Vs Deputy Commissioner of Income 1-E, Naaz Cinema Complex, Tax, Circle-7(1), Jhandewalan Extension, New…

Odisha State Beverages Corporation Limited, Bhubaneswar vs. ACIT, Corporate Circle-1(2), Bhubaneswar

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

ITA 130/CTK/2018[2014-15]Status: DisposedITAT Cuttack04 Oct 2019AY 2014-15

Bench: Shri Before Shri Chandra Mohan Garg, Judicialmember Member & Laxmi Prasad Sahulaxmi Prasad Sahulaxmi Prasad Sahuassessment Year :2014-2015 Odisha State Beverage Corpn Odisha State Beverage Corpn Vs. Acit, Acit, Corporate Corporate Circle Circle-1(2), Ltd., 2Nd Floor, Fortune Towers, Floor, Fortune Towers, Chandrasekharpur, Chandrasekharpur, Chandrasekharpur Chandrasekharpur Bhubaneswar. Pan/Gir No.Aaaco 6507 H Aaaco 6507 H (Appellant) (Appellant .. ( Respondent Respondent) Assessee By : Shri Ved Jain, Ar Revenue By : Shris.M.Keshkamat, Cit, Dr , Dr Date Of Hearing : 20 /08/ 2019 Date Of Pronouncement :04/10/ 201 / 2019 O R D E R Per C.M.Garg,Jm C.M.Garg,Jm This Is An Appeal Filed By The Assessee Against The Order Of The This Is An Appeal Filed By The Assessee Against The Order Of The This Is An Appeal Filed By The Assessee Against The Order Of The Cit(A),1, Bhubaneswar Cit(A),1, Bhubaneswar Dated 8.1.2018 For The Assessment Year For The Assessment Year 2014-15. 2. Grounds Of Appeal Raised Are As Under: Grounds Of Appeal Raised Are As Under:

For Appellant: Shri Ved Jain, ARFor Respondent: ShriS.M.Keshkamat, CIT, DR
Section 22Section 40

…igh Court in CIT vs Nagri Mills Co. Ltd, 33 ITR 681 (Bom) iv) Delhi High Court in CIT vs M/s. Vishnu Industrial Gases Pvt Ltd in ITA No.229/1988 P a g e 12 | 15 Assessment Year : 2014-2015 v) Hon’ble Delhi High Court in CIT vs Shri Ram Pistons & Rings Ltd., 220 CTR 404(Del) 23. Ld D.R. supported the orders of lower authorities. 24. After hearing the rival submissions, we find that the main reason for disallowance made by the Assessing Officer is that the assessee has not established with evidence that the expenses related to earlier(s) have actually crystalised during the relevant previous year, which has been…

DCIT, New Delhi vs. M/S. Dlf Ltd., New Delhi

ITA 2749/DEL/2013[2008-09]Status: DisposedITAT Delhi27 May 2019AY 2008-09

Bench: Shri Amit Shukla & Shri L.P. Sahu

For Appellant: Shri R.S. Singhvi & Shri SatyajeetFor Respondent: Shri Puneet Rai, Adv. Special counsel
Section 10Section 142ASection 143(3)Section 14ASection 40Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B” NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI L.P. SAHU, ACCOUNTANT MEMBER I.T.A. No. 2126/DEL/2013 Assessment Year: 2008-09 DLF Limited, v. The Addl. Commissioner DLF Centre, (9th Floor), of Income Tax, Range- Sansad Marg, 10, New Delhi. New Delhi. TAN/PAN: AAACD 3494N (Appellant) (Respondent) I.T.A. No. 2749/DEL/2013 Assessment Year: 2008-09 The Deputy Commissioner of v. DLF Limited, Income Tax, Circle-0, DLF Centre, (9th Floor), New Delhi. Sansad Marg, New Delhi. TAN/PAN: AAACD 3494N (Appellant) (Respondent) Appellant by: Shri R.S. Singhvi…

Dlf Ltd., New Delhi vs. Addl. CIT, New Delhi

ITA 2126/DEL/2013[2008-09]Status: DisposedITAT Delhi27 May 2019AY 2008-09

Bench: Shri Amit Shukla & Shri L.P. Sahu

For Appellant: Shri R.S. Singhvi & Shri SatyajeetFor Respondent: Shri Puneet Rai, Adv. Special counsel
Section 10Section 142ASection 143(3)Section 14ASection 40Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B” NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI L.P. SAHU, ACCOUNTANT MEMBER I.T.A. No. 2126/DEL/2013 Assessment Year: 2008-09 DLF Limited, v. The Addl. Commissioner DLF Centre, (9th Floor), of Income Tax, Range- Sansad Marg, 10, New Delhi. New Delhi. TAN/PAN: AAACD 3494N (Appellant) (Respondent) I.T.A. No. 2749/DEL/2013 Assessment Year: 2008-09 The Deputy Commissioner of v. DLF Limited, Income Tax, Circle-0, DLF Centre, (9th Floor), New Delhi. Sansad Marg, New Delhi. TAN/PAN: AAACD 3494N (Appellant) (Respondent) Appellant by: Shri R.S. Singhvi…

Hero Motocorp Ltd., New Delhi vs. DCIT, Circle- 11(1), New Delhi

Appeal of the assessee is partly allowed for statistical purpose

ITA 1351/DEL/2018[2009-10]Status: DisposedITAT Delhi23 Apr 2019AY 2009-10

Bench: Shri N. K. Billaiya & Ms Suchitra Kamble

For Appellant: Amount of Proposed international
Section 115JSection 143(3)Section 144C

…a Engine Valves Ltd, : 138 ITR 217 (Del) • CIT vs. Bhai Sunder Dass & Sons P. Ltd. : 158 ITR 195 (Del) • CIT vs. Lumax Industries Ltd. : 173 Taxman 390 (Del) Shriram Pistons & Rings Ltd. vs. CIT : 171 Taxman 81 (Del) • CIT vs. Shri Ram Pistons and Rings Ltd.: 220 CTR 404 (Del) • Goodyear India Ltd. vs. ITO : 73 ITD 189 (Del)(TM) ITO vs. Shivani Locks : 118 TTJ 467 (Del) 86 • Climate Systems India Ltd. vs. CIT: 319 ITR 113 (Del- HC)] • CIT vs. Sharda Motor Industries Ltd: 319 ITR 109 (Del- HC) • CIT vs. Essel Propack 325 ITR 185 (Bom) • CIT v. Modi Revlon (P) Ltd: (2012) 9 TMI 48 (Del.) Mafatlal Denim Ltd. V. DCI…

ACIT, Moradabad vs. M/S. Jubilant Organosyes Ltd., Uttar Pradesh

The appeal is dismissed

ITA 4975/DEL/2012[2008-09]Status: DisposedITAT Delhi12 Mar 2019AY 2008-09

Bench: Smt Beena A. Pillai & Shri Prashant Maharishi

For Appellant: Shri R.M. Gupta, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 115JSection 43(1)

…aintaining accounts on mercantile basis.  Hindustan Gum & Chemicals Ltd. vs. ITO [2008] 23 SOT 143 (Kolkata), (Refer Para 7.3)  Saurashtra Cement and Chemical Industries Ltd. CIT[(1995) 213 ITR 523 (Guj)], Para 10  CIT v. Shriram Piston & Rings Ltd.[(2008) 220 CTR 404 (Del.)], Para 7, 9, 17  Toyo Engg India Ltd vs. JCIT [(2006) 100 TTJ 373(Mum.)] (Refer Para 15, 17)  Essar Steel Ltd. v. DCIT: [(2005) 97 ITD 125 (Ahmd.) (TM)], Refer para 45)  Goetze (India) Ltd. v. DCIT: [(2008) 115 ITD 119 (Del.], Para 22,  CIT vs. Jagatjit Industries Ltd. [(2010) 194 Taxman 158 (Del), Para 16  SMCC Construction India Ltd…

ACIT, Moradabad vs. M/S Jubliant Organosys Ltd., Uttar Pradesh

The appeal is dismissed

ITA 2596/DEL/2011[2007-08]Status: DisposedITAT Delhi12 Mar 2019AY 2007-08

Bench: Smt Beena A. Pillai & Shri Prashant Maharishi

For Appellant: Shri R.M. Gupta, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 115JSection 43(1)

…aintaining accounts on mercantile basis.  Hindustan Gum & Chemicals Ltd. vs. ITO [2008] 23 SOT 143 (Kolkata), (Refer Para 7.3)  Saurashtra Cement and Chemical Industries Ltd. CIT[(1995) 213 ITR 523 (Guj)], Para 10  CIT v. Shriram Piston & Rings Ltd.[(2008) 220 CTR 404 (Del.)], Para 7, 9, 17  Toyo Engg India Ltd vs. JCIT [(2006) 100 TTJ 373(Mum.)] (Refer Para 15, 17)  Essar Steel Ltd. v. DCIT: [(2005) 97 ITD 125 (Ahmd.) (TM)], Refer para 45)  Goetze (India) Ltd. v. DCIT: [(2008) 115 ITD 119 (Del.], Para 22,  CIT vs. Jagatjit Industries Ltd. [(2010) 194 Taxman 158 (Del), Para 16  SMCC Construction India Ltd…

Jubilant Organosys Ltd., Noida vs. Addl. CIT, Moradabad

The appeal is dismissed

ITA 2497/DEL/2011[2007-08]Status: DisposedITAT Delhi12 Mar 2019AY 2007-08

Bench: Smt Beena A. Pillai & Shri Prashant Maharishi

For Appellant: Shri R.M. Gupta, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 115JSection 43(1)

…aintaining accounts on mercantile basis.  Hindustan Gum & Chemicals Ltd. vs. ITO [2008] 23 SOT 143 (Kolkata), (Refer Para 7.3)  Saurashtra Cement and Chemical Industries Ltd. CIT[(1995) 213 ITR 523 (Guj)], Para 10  CIT v. Shriram Piston & Rings Ltd.[(2008) 220 CTR 404 (Del.)], Para 7, 9, 17  Toyo Engg India Ltd vs. JCIT [(2006) 100 TTJ 373(Mum.)] (Refer Para 15, 17)  Essar Steel Ltd. v. DCIT: [(2005) 97 ITD 125 (Ahmd.) (TM)], Refer para 45)  Goetze (India) Ltd. v. DCIT: [(2008) 115 ITD 119 (Del.], Para 22,  CIT vs. Jagatjit Industries Ltd. [(2010) 194 Taxman 158 (Del), Para 16  SMCC Construction India Ltd…

Whirlpool of India Ltd., Gurgaon vs. ACIT, Circle- 1, Ltu, New Delhi

In the result appeal filed by assessee for Assessment Year 2011-12

ITA 7085/DEL/2017[2012-13]Status: DisposedITAT Delhi18 Jan 2019AY 2012-13

Bench: Shri R.K.Panda & Smt. Beena A Pillaiay: 2010-11 Ay: 2011-12 Ay: 2012-13

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Sanjay I Bara, CIT(DR)
Section 143(3)Section 144CSection 92Section 92BSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: Bench ‘I-1’, NEW DELHI BEFORE SHRI R.K.PANDA, ACCOUNTANT MEMBER AND SMT. BEENA A PILLAI, JUDICIAL MEMBER AY: 2010-11 AY: 2011-12 AY: 2012-13 Whirlpool of India Ltd. vs. DCIT, LTU Plot No.40, Sector – 44 New Delhi Gurgaon 122 002 PAN: AAACW1336L (Appellant) (Respondent) Appellant by : Sh. Ajay Vohra, Sr. Adv. Sh. Neeraj Jain, Adv. & Mr. Ramit Katyal, C.A. Respondent by : Sh. Sanjay I Bara, CIT(DR) Date of Hearing : 08/01/2019 Date of Pronouncement: 18/01/2019 ORDER PER BEENA A PILLAI, JUDICIAL MEMBER Present appeal has been filed by assessee against order…

M/S. Whirlpool of India Ltd., Gurgaon vs. DCIT (Ltu), New Delhi

In the result appeal filed by assessee for Assessment Year 2011-12

ITA 1787/DEL/2016[2011-12]Status: DisposedITAT Delhi18 Jan 2019AY 2011-12

Bench: Shri R.K.Panda & Smt. Beena A Pillaiay: 2010-11 Ay: 2011-12 Ay: 2012-13

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Sanjay I Bara, CIT(DR)
Section 143(3)Section 144CSection 92Section 92BSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: Bench ‘I-1’, NEW DELHI BEFORE SHRI R.K.PANDA, ACCOUNTANT MEMBER AND SMT. BEENA A PILLAI, JUDICIAL MEMBER AY: 2010-11 AY: 2011-12 AY: 2012-13 Whirlpool of India Ltd. vs. DCIT, LTU Plot No.40, Sector – 44 New Delhi Gurgaon 122 002 PAN: AAACW1336L (Appellant) (Respondent) Appellant by : Sh. Ajay Vohra, Sr. Adv. Sh. Neeraj Jain, Adv. & Mr. Ramit Katyal, C.A. Respondent by : Sh. Sanjay I Bara, CIT(DR) Date of Hearing : 08/01/2019 Date of Pronouncement: 18/01/2019 ORDER PER BEENA A PILLAI, JUDICIAL MEMBER Present appeal has been filed by assessee against order…

M/S. Whirlpool of India Ltd., Gurgaon vs. DCIT, New Delhi

In the result appeal filed by assessee for Assessment Year 2011-12

ITA 1972/DEL/2015[2010-11]Status: DisposedITAT Delhi18 Jan 2019AY 2010-11

Bench: Shri R.K.Panda & Smt. Beena A Pillaiay: 2010-11 Ay: 2011-12 Ay: 2012-13

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Sanjay I Bara, CIT(DR)
Section 143(3)Section 144CSection 92Section 92BSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: Bench ‘I-1’, NEW DELHI BEFORE SHRI R.K.PANDA, ACCOUNTANT MEMBER AND SMT. BEENA A PILLAI, JUDICIAL MEMBER AY: 2010-11 AY: 2011-12 AY: 2012-13 Whirlpool of India Ltd. vs. DCIT, LTU Plot No.40, Sector – 44 New Delhi Gurgaon 122 002 PAN: AAACW1336L (Appellant) (Respondent) Appellant by : Sh. Ajay Vohra, Sr. Adv. Sh. Neeraj Jain, Adv. & Mr. Ramit Katyal, C.A. Respondent by : Sh. Sanjay I Bara, CIT(DR) Date of Hearing : 08/01/2019 Date of Pronouncement: 18/01/2019 ORDER PER BEENA A PILLAI, JUDICIAL MEMBER Present appeal has been filed by assessee against order…

DCIT, New Delhi vs. M/S. Metso Minerals (India) Pvt. Ltd., New Delhi

In the result, the appeal is dismissed

ITA 6681/DEL/2014[2010-11]Status: DisposedITAT Delhi18 Jan 2019AY 2010-11

Bench: : Shri Amit Shukla & Shri L.P. Sahu

Section 143(2)Section 14ASection 36(1)(iii)

…rystallized during the year, the same is allowable in the current year, the same cannot be treated as prior period item. Assessee is relying on the following judgements: CIT vs Modipon Ltd. (2011) 334 ITR 102 (Del) CIT vs Shri Ram Pistons & Rings Ltd. (2008) 174 Taxmann 147 (Del) Saurasthra Cement & Chemical Industries Ltd. vs CIT (1995) 213 ITR 523 (Guj) 17 CIT(A) has deleted this addition holding that the amount had been crystallized during the year, even services had been rendered during the year and therefore, the amount cannot be treated as prior period item so as to disallow the same. Last but not the le…

DCIT Corporate Circle 1 (1), Chennai vs. M/S East Coast Constructions & Industries Limited, Chennai

In the result, the appeal filed by the Revenue is allowed for statistical purposes

ITA 1442/CHNY/2018[2010-11]Status: DisposedITAT Chennai24 Oct 2018AY 2010-11

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddyआयकर अपील सं./I T.A. No. 1442/Chny/2018 िनधा"रण वष"/Assessment Year:2010-11 The Deputy Commissioner Of M/S. East Coast Constructions & Income Tax, Central Circle 1(1), Vs. Industries Ltd., No. 4, Moores Road, Chennai – 34. Chennai 600 006. [Pan:Aaace1662P] (Appellant) (Respondent) अपीलाथ" की ओर से / Appellant By : Ms. Tripurasundari, Cit ""थ" की ओर से/Respondent By : Shri G. Baskar, Advocate सुनवाई की तारीख/ Date Of Hearing : 11.09.2018 घोषणा की तारीख /Date Of Pronouncement : 24.10.2018 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Revenue Is Directed Against The Order Of The Commissioner Of Income Tax (Appeals) 6, Chennai Dated 30.01.2018 Relevant To The Assessment Year 2010-11. The Only Effective Ground Raised In The Appeal Of The Revenue Is That The Ld. Cit(A) Has Erred In Deleting The Disallowance Of ₹.25,24,97,133/- Towards Expenses Relatable To The Retention Money Withheld By The Contractees.

For Appellant: Ms. Tripurasundari, CITFor Respondent: Shri G. Baskar, Advocate
Section 143(3)Section 263

…of the assessee or the tax that the Department is likely to collect from him whether in one year or the other." 12.1 The aforesaid observation of the Bombay High Court was reiterated by the Delhi High Court in the case of CIT vs Shri Ram Pistos and Rings Ltd, 220 CTR 404, as under: "Finally, we may only mention what has been articulated by the Bombay High Court in CIT v. Nagri Mills Co. Ltd. [1958] 33 ITR 681 (Bom) as follows : . . In the reference that is before us there is no doubt that the assessee had incurred an expenditure. The only dispute is regarding the date on which the liability had crystallized. It a…

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

…ue neutral and do not affect overall taxes likely to be collected by the Government. • CIT v. Excel Industries Ltd and Mafatlal Industries (P) Ltd.: 358 ITR 295 (SC) CIT v. Bilahari Investment P. Ltd.: 299 ITR 1 (SC) • • CIT v. Shri Ram Pistons & Rings Ltd.: 220 CTR 404 (Del.) • CIT v. Triveni Engg. & Industries Ltd.: 336 ITR 374 (Del.) • CIT v. Nagri Mills Co. Ltd.: 33 ITR 681 (Bom.) • CIT vs. M/s Vishnu Industrial Gases: ITA No. 229/1988 (Del.) In view of the aforesaid, the Ld. AR submitted that the assessing officer may be directed to delete the arbitrary disallowance based on an adhoc percentage of the turn…

M/S Enexio Power Cooling Solutions India Pvt Ltd (Formerly Known As M/S Gea Cooling Tower Technologies (India) P Ltd, Chennai vs. ACIT (OSD) Corp Range 2, Chennai

In the result, the assessee’s appeal is partly allowed

ITA 509/CHNY/2018[2014-15]Status: DisposedITAT Chennai06 Aug 2018AY 2014-15

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकरअपीलसं/.I.T.A. No. 509/Chny/2018 "नधा"रणवष"/Assessment Year : 2014-15

For Appellant: Shri Saroj Kumar Parida, AdvocateFor Respondent: Mrs. Ruby George, CIT

…आयकर अपील"य अ"धकरण ,’बी’ "यायपीठ,चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHENNAI "ी एन. आर. एस .गणेशन, "या"यक सद"य एवं "ी एस जयरामन, लेखा सद"यके सम# BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकरअपीलसं/.I.T.A. No. 509/Chny/2018 "नधा"रणवष"/Assessment Year : 2014-15 M/s. Enexio Power Cooling Solutions India The Assistant Commissioner of Pvt. Ltd., Vs. Income Tax (OSD), (Formerly known as M/s. Gea Cooling Corporate Range -2, Tower Technologies (India) P. Ltd., Chennai 600 034. No. 443, Anna Salai, Guna Building Teynampet, Chennai – 600 018. [PAN: AAACG 7891G…

Hero Motocorp Ltd., New Delhi vs. Addl.CIT, Range-11, New Delhi

In the result ground No

ITA 6990/DEL/2017[2013-14]Status: DisposedITAT Delhi20 Jun 2018AY 2013-14

Bench: Shri R. K. Panda & Ms Suchitra Kamblei.T.A. No. 6990/Del/2017 (A.Y 2013-14)

Section 143(3)Section 144C

…ama Engine Valves Ltd. : 138 ITR 217 (Del) CIT vs. Bhai Sunder Dass & Sons P. Ltd. : 158 ITR 195 (Del) CIT vs. Lumax Industries Ltd. : 1'73 Taxman 390 (Del) Shriram Pistons & Rings Ltd. vs. CIT : 171 Taxman 81 (Del)-" CIT vs. Shri Ram Pistons and Rings Ltd. : 220 CTR 404 (Del) Goodyear India Ltd. vs. ITO : 73 ITD 189 (Del)(TM) ITO vs. Shivani Locks : 118 TTJ 467 (Del) Since no proprietary rights in the know how is vested in the assessee, the intention to transfer or create ownership in the technical know-how /technical information in the assessee. In view of the aforesaid, expenditure by way of royalty, technica…

Hero Motocorp Ltd., New Delhi vs. DCIT, New Delhi

In the result appeal No. 2424/Del/ 2015 filed by the revenue in assessment year 2010-11 is partly allowed

ITA 1616/DEL/2017[2012-13]Status: DisposedITAT Delhi13 Jun 2018AY 2012-13

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 143(3)Section 144CSection 92C

…ama Engine Valves Ltd. : 138 ITR 217 (Del) CIT vs. Bhai Sunder Dass & Sons P. Ltd. : 158 ITR 195 (Del) CIT vs. Lumax Industries Ltd. : 1'73 Taxman 390 (Del) Shriram Pistons & Rings Ltd. vs. CIT : 171 Taxman 81 (Del)-" CIT vs. Shri Ram Pistons and Rings Ltd. : 220 CTR 404 (Del) Goodyear India Ltd. vs. ITO : 73 ITD 189 (Del)(TM) ITO vs. Shivani Locks : 118 TTJ 467 (Del) Since no proprietary rights in the know how is vested in the assessee, the assessee being a mere licensee with limited rights to use the technical assistance during the currency of the agreement, there is no explicit or implied intention to transfe…

A.C.I.T.. Cir.-3, Nagpur vs. M/S Weldwell Electrodes, Nagpur

In the result these four appeals are hereby partly allowed

ITA 296/NAG/2015[2011-12]Status: DisposedITAT Nagpur08 Mar 2018AY 2011-12

Bench: Sh. G.D.Agrawal, Hon’Ble & Sh. Mahavir Singh

Section 40

….7 Attention is also invited to the decision of Hon'ble Bombay High Court in the case of Commissioner of Income tax Vs Nagari Mills Co. Ltd 33 ITR 681 & Delhi High Court's judgment in the case of Commissioner of Income Tax Vs, Shri Ram Pistons and Rings Ltd. (220 CTR 404} wherein it was held that the department should not fritter away its energy in such matters which are tax neutral and that it is a pity that so much time and energy are spent to determine the year of taxability of the income, The said judgments have been extensively followed in a large number of cases in which a exercise undertaken by the departm…