CIT v. Sriyansh Knitters P. Ltd.

336 ITR 235High Court2011#12645 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2024.

Issues it is cited on

proximate nexussection 145asection 40(a)(i)most appropriate methodmercantile system of accountingcommercial expediencytnmmsection 32section 40(a)disallowance u/s 14asection 145section 43b

Judgments citing CIT v. Sriyansh Knitters P. Ltd.

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, the appeal of the assessee in ITA No

ITA 4081/DEL/2010[2003-04]Status: PendingITAT Delhi12 Mar 2024AY 2003-04

Bench: Shri Saktijit Dey & Shri N.K. Billaiya

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Rajesh Kumar, CIT-DR

…A No.976/2005), 2005-06 (ITA Nos. 171 and 172/2012) and 2006-07 (ITA No. 381/2016). Further, the issue stand covered in favour of the assessee in view of the decision of the Hon'ble Punjab and Haryana High Court in the case of CIT v. Sriyansh Knitters P. Ltd. 336 ITR 235 wherein the High Court, while affirming the finding of the Tribunal held that duty drawback accrues in the year in which rate is fixed by the competent authority after verification of claim of the assessee and amount is quantified and not in the year of export. Similar view has been held in the case of CIT v. Manav Tools (India) P. Ltd: 336 ITR…

M/S. Mahalasa Exports, Udupi vs. Income-Tax Officer, Ward 1 & Tps, Udupi

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

ITA 282/BANG/2023[2018-19]Status: DisposedITAT Bangalore17 Jul 2023AY 2018-19

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year : 2018-19

For Appellant: Shri Sandeep Chalapathy, CAFor Respondent: Shri Nischal B., Addl.CIT(DR)(ITAT), Bengaluru
Section 250Section 37

…at the amount of Rs.1,50,215 has been offered for taxation in the following assessment year. He relied on the judgment of the Hon’ble jurisdictional High Court in the case of CIT v. Asea Brown Boveri Ltd (117 Taxman 447) and CIT v. Sriyansh Knitters (P) Ltd. (336 ITR 235). 8. The ld. AR further submitted in respect of ground Nos.5 & 6 that the assessee wrongly claimed excess refund in which the assessee obtained interest. There was no malafide intention of the assessee for claiming excess refund, but it was inadvertent mistake of the assessee. The interest paid to the Government is compensatory in nature which c…

Maruti Suzuki India Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the Revenue in ITA No

ITA 961/DEL/2015[2010-11]Status: DisposedITAT Delhi09 Feb 2023AY 2010-11

Bench: Shri Shamim Yahya & Shri Kul Bharat[Assessment Year : 2010-11] Maruti Suzuki India Ltd., Vs Dcit, Plot No.1, Nelson Mandela Road, Circle-16(1), Vasant Kunj, New Delhi-110070. New Delhi. Pan-Aaacm0829Q Appellant Respondent [Assessment Year : 2010-11] Dcit, Vs Maruti Suzuki India Ltd., Circle-16(1), Plot No.1, Nelson Mandela Road, New Delhi. Vasant Kunj, New Delhi-110070. Pan-Aaacm0829Q Appellant Respondent Appellant By Shri Ajay Vohra, Sr.Adv., Shri Neeraj Jain, Adv. & Ms. Tejasvi Jain & Ms. Somya Jain, Ca Respondent By Shri G.C.Srivastava, Adv., Shri Kalrav Mehrotra, Adv. & Shri Mayank Patawari, Ca Date Of Hearing 11.11.2022 Date Of Pronouncement 09.02.2023

Section 143(3)Section 144CSection 144C(5)Section 43Section 43B

…Delhi High Court in AY 1999-2000 (ITA No.250/2005), 2000-01 (ITA No.976/2005), 2005-06 (ITA nos. 171 and 172/2012) and 2006-07 (ITA No.381/2016). He further contended that the Hon’ble Punjab & Haryana High Court in the case of CIT vs Sriyansh Knitters P.Ltd. 336 ITR 235 affirmed the finding of the Tribunal that duty drawback accrues in the year in which rate is fixed by the competent authority after verification of the claim of the assessee company and amount is quantified and not in the year of export. 19. Ld. Special Counsel for the Revenue supported the order of authorities below. However, he could not contr…

DCIT, New Delhi vs. M/S. Maruti Suzuki India Ltd., New Delhi

In the result, the appeal of the Revenue in ITA No

ITA 1507/DEL/2015[2010-11]Status: DisposedITAT Delhi09 Feb 2023AY 2010-11

Bench: Shri Shamim Yahya & Shri Kul Bharat[Assessment Year : 2010-11] Maruti Suzuki India Ltd., Vs Dcit, Plot No.1, Nelson Mandela Road, Circle-16(1), Vasant Kunj, New Delhi-110070. New Delhi. Pan-Aaacm0829Q Appellant Respondent [Assessment Year : 2010-11] Dcit, Vs Maruti Suzuki India Ltd., Circle-16(1), Plot No.1, Nelson Mandela Road, New Delhi. Vasant Kunj, New Delhi-110070. Pan-Aaacm0829Q Appellant Respondent Appellant By Shri Ajay Vohra, Sr.Adv., Shri Neeraj Jain, Adv. & Ms. Tejasvi Jain & Ms. Somya Jain, Ca Respondent By Shri G.C.Srivastava, Adv., Shri Kalrav Mehrotra, Adv. & Shri Mayank Patawari, Ca Date Of Hearing 11.11.2022 Date Of Pronouncement 09.02.2023

Section 143(3)Section 144CSection 144C(5)Section 43Section 43B

…Delhi High Court in AY 1999-2000 (ITA No.250/2005), 2000-01 (ITA No.976/2005), 2005-06 (ITA nos. 171 and 172/2012) and 2006-07 (ITA No.381/2016). He further contended that the Hon’ble Punjab & Haryana High Court in the case of CIT vs Sriyansh Knitters P.Ltd. 336 ITR 235 affirmed the finding of the Tribunal that duty drawback accrues in the year in which rate is fixed by the competent authority after verification of the claim of the assessee company and amount is quantified and not in the year of export. 19. Ld. Special Counsel for the Revenue supported the order of authorities below. However, he could not contr…

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

…A No.976/2005), 2005-06 (ITA Nos. 171 and 172/2012) and 2006-07 (ITA No. 381/2016). Further, the issue stand covered in favour of the assessee in view of the decision of the Hon’ble Punjab and Haryana High Court in the case of CIT v. Sriyansh Knitters P. Ltd. 336 ITR 235 wherein the High Court, while affirming the finding of the Tribunal held that duty drawback accrues in the year in which rate is fixed by the competent authority after verification of claim of the assessee and amount is quantified and not in the year of export. Similar view has been held in the case of CIT v. Manav Tools (India) P. Ltd: 336 ITR 2…

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

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

ITA 6021/DEL/2012[2008-09]Status: DisposedITAT Delhi09 Nov 2017AY 2008-09

Bench: Shri N.K. Saini & Shri K.N. Charry

Section 143(3)Section 144CSection 144C(5)Section 14ASection 35DSection 43BSection 92C

…2001-02, 2002-03, 2004-05, 2005-06, AY 2006-07 and 2007-08, the issue stands covered in favour of the assessee, in view of Punjab and Haryana High Court in the cases of CIT v. Manav Tools (India) P. Ltd: 336 ITR 237 (P&H) and CIT v. Sriyansh Knitters P. Ltd. 336 ITR 235 wherein the High Court while affirming the finding of the Tribunal held that duty drawback accrues in the year in which rate is fixed by the competent authority after verification of claim of the assessee and amount is quantified and not in the year of export. 3.10. Per contra, it is the contention of the Ld. Dr that it is pertinent to note that…

Phoenix Converyor Belt India Private Limited (Formerly Known As Phoenix Yule Limited ), Kolkata vs. ACIT Cir - 11, Kolkata.

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

ITA 32/KOL/2013[2003-04]Status: DisposedITAT Kolkata18 Oct 2017AY 2003-04

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi] I.T.A. No. 32/Kol/2013 Assessment Year: 2003-04

Section 250Section 80G

…e mercantile system, a claim for refund in respect of a tax incentive does not give rise to any income till it is quantified and verified. This was the precise question before the Hon'ble Punjab & Haryana High Court in CIT v Sriyansh Knitters (P) Ltd., (2011) 336 ITR 235 (P&H). Question No.1 for consideration of the Hon'ble High Court in the said case was as follows:- "(i) Whether on the facts and in the circumstances of the case, the ITAT was justified in law in holding that the duty draw back accrues in the year in which rate is fixed by the competent authority, after verification of the claim of the assessee t…

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal is allowed

ITA 5720/DEL/2011[2007-08]Status: DisposedITAT Delhi12 Jul 2016AY 2007-08

Bench: Shri I.C. Sudhir & Shri L.P. Sahu Assessment Year: 2007-08 Assessment Year: 2007-08 Maruti Suzuki India Ltd., Vs. Additional Cit, Plot No.1, Nelson Mandela Road, Range-6, Vasant Road, New Delhi. New Delhi. (Pan: Aaacm0829Q) (Appellant) (Respondent) Assessee By: S/Shri Ajay Vohra, Sr. Adv. Neeraj Jain, Rohit Jain, Adv. Romit Katyal & Ms. Tejasvi Jain, Cas Department By:Shri Amrendra Kumar, Cit(Dr)

For Appellant: S/Shri Ajay Vohra, Sr. Adv. NeerajFor Respondent: Shri Amrendra Kumar, CIT(DR)

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH “I-1” NEW DELHI) BEFORE SHRI I.C. SUDHIR AND SHRI L.P. SAHU Assessment Year: 2007-08 Assessment Year: 2007-08 Maruti Suzuki India Ltd., vs. Additional CIT, Plot No.1, Nelson Mandela Road, Range-6, Vasant Road, New Delhi. New Delhi. (PAN: AAACM0829Q) (Appellant) (Respondent) Assessee by: S/Shri Ajay Vohra, Sr. Adv. Neeraj Jain, Rohit Jain, Adv. Romit Katyal & Ms. Tejasvi Jain, CAs Department by:Shri Amrendra Kumar, CIT(DR) C O R R I G E N D U M It has come to our notice that there are few typographical mistakes in the Order dated 20.5.2016 of the ITAT, which needs…

CIT v. Sriyansh Knitters P. Ltd. (336 ITR 235) — Cited in 8 Judgments | BharatTax