CIT v. Sterling Foods

237 ITR 579Supreme Court of India1999#247 most cited

What is CIT v. Sterling Foods authority for?

Income eligible for profit-linked deductions under sections like 80-IC or 10B must have a direct nexus to the eligible business activity or be derived from the industrial undertaking itself, and not merely attributable to it or arising from a post-manufacturing event.

311

judgments rely on this decision, according to BharatTax’s citation analysis of 367,518 Indian tax judgments — from 2007 to 2026.

Also referred to as

CIT v. Sterling Foods · 237 ITR 579 · section 80-IC · section 10B · profit-linked deductions · direct nexus · derived from industrial undertaking · eligible business activity · post-manufacturing event · income eligibility for deductions

Also reported as

104 Taxmann 204

Sections most often in play

Section 143(3)Section 115JBSection 80IBSection 14ASection 37(1)Section 80ICSection 92CASection 80HH
Read the full judgment

Issues it is cited on

section 80hsection 80hheligible businesssection 80ibdeduction under section 80iasection 80hhcsection 80isection 80icsection 80iadeduction u/s 80iagross total incomewritten down value

Judgments citing CIT v. Sterling Foods

Income Tax Officer, Bodhi Tower vs. Kumar Builders Project Pune Private Limited, Bund Garden

In the result, the appeal filed by the Revenue is dismissed

ITA 199/PUN/2025[2019-20]Status: DisposedITAT Pune11 Jun 2025AY 2019-20

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2019-20

For Appellant: Shri Nikhil S PathakFor Respondent: Shri Ramnath P Murkunde
Section 139(1)Section 139(4)Section 80ISection 80P

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND MS ASTHA CHANDRA, JUDICIAL MEMBER Assessment Year : 2019-20 ITO, Bodhi Towers, Pune Kumar Builders Project Pune Pvt. Ltd. Vs. 2409, East Street, Camp, Pune 411001 PAN: AAHCK4705E (Appellant) (Respondent) Assessee by : Shri Nikhil S Pathak Department by : Shri Ramnath P Murkunde Date of hearing : 05-06-2025 Date of pronouncement : 11-06-2025 O R D E R PER R.K. PANDA, VP : This appeal filed by the Revenue is directed against the order dated 27.11.2024 of the Ld. Addl / JCIT(A), Gurugram relating to assessment y…

Jindal Saw Ltd., New Delhi vs. ACIT, Circle-13(2), New Delhi

In the result, assessee’s appeal in ITA No

ITA 504/DEL/2022[2014-15]Status: DisposedITAT Delhi04 Jun 2025AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal[Assessment Year : 2011-12] Jindal Saw Ltd. Vs Dcit, 28, Najafgarh Road, Circle-13(2) New Delhi-110015. (Earlier Addl.Cit Range-4), Pan-Aabcs7280C C.R.Building, I.P.Estate, New Delhi-110002. Appellant Respondent [Assessment Year : 2011-12] Dcit, Vs Jindal Saw Ltd. Circle-13(2), (Formerly Known As M/S. Saw Pipes Room No.316A, Ltd.), 28, Najafgarh Road, C.R.Building, New Delhi-110015. New Delhi Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2014-15] Jindal Saw Ltd., Vs Acit, 28, Najafgarh Road, Shivaji Marg, Circle-13(2), New Delhi-110015. New Delhi. Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2015-16] Jindal Saw Ltd. Vs Acit, 28, Najafgarh Road, Circle-13(2) P.O.Ramesh Nagar, C.R.Building, I.P.Estate, New Delhi-110015. New Delhi-110002. Pan-Aabcs7280C Appellant Respondent

Section 143(3)Section 234BSection 43B

…d is only related to a post manufacturing event, which is not eligible for deduction under section 80-IC of the Act as per the ITA Nos.826 & 1000/Del/2016, 4693 & 4760/Del/2019 & 504/Del/2022 decision of the Hon’ble Supreme Court in the case of Sterling Foods 237 ITR 579 (SC). 9. On appeal, the ld. CIT(A), vide order dated 28.07.2017 upheld the addition made by the assessing of ficer and held that on perusal o f the policy it cannot be upheld that the consideration received on sale of focus scrip/ License is a reimbursement of cost incurred since the scrip is available only post export. It was further held that c…

DCIT Circle-13(2), New Delhi vs. Jindal Saw Ltd., New Delhi

In the result, assessee’s appeal in ITA No

ITA 4760/DEL/2019[2015-16]Status: DisposedITAT Delhi04 Jun 2025AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal[Assessment Year : 2011-12] Jindal Saw Ltd. Vs Dcit, 28, Najafgarh Road, Circle-13(2) New Delhi-110015. (Earlier Addl.Cit Range-4), Pan-Aabcs7280C C.R.Building, I.P.Estate, New Delhi-110002. Appellant Respondent [Assessment Year : 2011-12] Dcit, Vs Jindal Saw Ltd. Circle-13(2), (Formerly Known As M/S. Saw Pipes Room No.316A, Ltd.), 28, Najafgarh Road, C.R.Building, New Delhi-110015. New Delhi Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2014-15] Jindal Saw Ltd., Vs Acit, 28, Najafgarh Road, Shivaji Marg, Circle-13(2), New Delhi-110015. New Delhi. Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2015-16] Jindal Saw Ltd. Vs Acit, 28, Najafgarh Road, Circle-13(2) P.O.Ramesh Nagar, C.R.Building, I.P.Estate, New Delhi-110015. New Delhi-110002. Pan-Aabcs7280C Appellant Respondent

Section 143(3)Section 234BSection 43B

…d is only related to a post manufacturing event, which is not eligible for deduction under section 80-IC of the Act as per the ITA Nos.826 & 1000/Del/2016, 4693 & 4760/Del/2019 & 504/Del/2022 decision of the Hon’ble Supreme Court in the case of Sterling Foods 237 ITR 579 (SC). 9. On appeal, the ld. CIT(A), vide order dated 28.07.2017 upheld the addition made by the assessing of ficer and held that on perusal o f the policy it cannot be upheld that the consideration received on sale of focus scrip/ License is a reimbursement of cost incurred since the scrip is available only post export. It was further held that c…

Jindal Saw Ltd., New Delhi vs. ACIT Circle-13(2), New Delhi

In the result, assessee’s appeal in ITA No

ITA 4693/DEL/2019[2015-16]Status: DisposedITAT Delhi04 Jun 2025AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal[Assessment Year : 2011-12] Jindal Saw Ltd. Vs Dcit, 28, Najafgarh Road, Circle-13(2) New Delhi-110015. (Earlier Addl.Cit Range-4), Pan-Aabcs7280C C.R.Building, I.P.Estate, New Delhi-110002. Appellant Respondent [Assessment Year : 2011-12] Dcit, Vs Jindal Saw Ltd. Circle-13(2), (Formerly Known As M/S. Saw Pipes Room No.316A, Ltd.), 28, Najafgarh Road, C.R.Building, New Delhi-110015. New Delhi Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2014-15] Jindal Saw Ltd., Vs Acit, 28, Najafgarh Road, Shivaji Marg, Circle-13(2), New Delhi-110015. New Delhi. Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2015-16] Jindal Saw Ltd. Vs Acit, 28, Najafgarh Road, Circle-13(2) P.O.Ramesh Nagar, C.R.Building, I.P.Estate, New Delhi-110015. New Delhi-110002. Pan-Aabcs7280C Appellant Respondent

Section 143(3)Section 234BSection 43B

…d is only related to a post manufacturing event, which is not eligible for deduction under section 80-IC of the Act as per the ITA Nos.826 & 1000/Del/2016, 4693 & 4760/Del/2019 & 504/Del/2022 decision of the Hon’ble Supreme Court in the case of Sterling Foods 237 ITR 579 (SC). 9. On appeal, the ld. CIT(A), vide order dated 28.07.2017 upheld the addition made by the assessing of ficer and held that on perusal o f the policy it cannot be upheld that the consideration received on sale of focus scrip/ License is a reimbursement of cost incurred since the scrip is available only post export. It was further held that c…

Alpa India Private Limited, Hyderabad vs. DCIT Circle -1(1), Hyderabad

In the result, the appeal of the assessee company is partly allowed for statistical purposes in terms of our aforesaid observations

ITA 457/HYD/2022[2018-19]Status: DisposedITAT Hyderabad26 May 2025AY 2018-19

Bench: Us:

For Appellant: Sri PVSS Prasad, CAFor Respondent: Sri B. Bala Krishna, CIT-DR
Section 115JSection 143(2)Section 143(3)Section 3Section 80Section 80I

…of the industrial undertaking yet the same may not fall within the meaning “derived from” so as to be eligible for the benefit envisaged U/s. 80IA of the Act. Also, we find that the Hon'ble Apex Court in its order in the case of Sterling Foods Vs. CIT (1999) 237 ITR 53 (SC), had held, that where the nexus between the income and the industrial undertaking was not direct but was only incidental, it would not fall within the expression “profits derived from industrial undertaking”. Also, the Hon'ble Apex Court in the case of Pandian Chemicals Ltd. (2003) 262 ITR 278 (SC), had held, that though certain incomes falli…

Assistant Commissioner of Income Tax, C-1(1)(1), Bangalore vs. Bangalore International Airport Limited, Bangalore

In the result, the cross objection of the assessee is hereby partly allowed

ITA 1109/BANG/2024[2020-21]Status: DisposedITAT Bangalore16 Apr 2025AY 2020-21

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Shri T. Suryanarayana, AdvocateFor Respondent: Smt. Nandini Das, CIT-DR
Section 80I

…income receipt from actual conduct of business will be covered under the income derived from and not the income incidental to the actual conducts of business. The AO further referred to the decision of Hon’ble Supreme in the case of Sterling Foods reported in 237 ITR 53 and Pandian Chemical reported in 262 ITR 278 to buttress his view that only the income which has direct nexus with eligible business activity of the industrial undertaking will be eligible for deduction under section 80IA of the Act. The AO, in view of the above, held that other income such as income from bank interest, government grant, interest…

Assistant Commissioner of Income Tax, C-1(1)(1), Bangalore vs. Bangalore International Airport Limited, Bangalore

ITA 1108/BANG/2024[2018-19]Status: DisposedITAT Bangalore16 Apr 2025AY 2018-19

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Shri T. Suryanarayana, AdvocateFor Respondent: Smt. Nandini Das, CIT-DR
Section 143(4)Section 80I

…income receipt from actual conduct of business will be covered under the income derived from and not the income incidental to the actual conducts of business. The AO further referred to the decision of Hon'ble Supreme in the case of Sterling Foods reported in 237 ITR 53 and Pandian Chemical reported in 262 ITR 278 to buttress his view that only the income which has direct nexus with eligible business activity of the industrial undertaking will be eligible for deduction under Section 80IA of the Act. The AO, in view of the above, held that other income such as income from bank interest, government grant, interest…

ACIT, Range-I, Lucknow vs. M/S Apco Infratech Pvt. Ltd., Lucknow

ITA 454/LKW/2020[2017-18]Status: DisposedITAT Lucknow02 Apr 2025AY 2017-18

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 143(1)Section 143(2)Section 143(3)Section 80I

…ibutable to." It implies a direct nexus between the income and the business activity. Interest earned on surplus funds does not have a direct nexus with the core business activity of infrastructure development or power generation. Sterling Foods v. CIT (1999) 237 ITR 579 (SC): The Supreme Court reiterated that income must be directly derived from the business activity to qualify for deductions under Section 801A. In this case, the court held that the sale of import entitlements, though related to the business, was not directly derived from the industrial undertaking. Pandian Chemicals Ltd. v. CIT (2003) 262 ITR 2…

ACIT, Range-I, Lucknow vs. M/S Apco Infratech Pvt. Ltd., Lucknow

ITA 453/LKW/2020[2016-17]Status: DisposedITAT Lucknow02 Apr 2025AY 2016-17

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 143(1)Section 143(2)Section 143(3)Section 80I

…ibutable to." It implies a direct nexus between the income and the business activity. Interest earned on surplus funds does not have a direct nexus with the core business activity of infrastructure development or power generation. Sterling Foods v. CIT (1999) 237 ITR 579 (SC): The Supreme Court reiterated that income must be directly derived from the business activity to qualify for deductions under Section 801A. In this case, the court held that the sale of import entitlements, though related to the business, was not directly derived from the industrial undertaking. Pandian Chemicals Ltd. v. CIT (2003) 262 ITR 2…

M/S. Apco Infratech Pvt. Ltd., Lucknow vs. ACIT-I, Lucknow

In the result, appeals vide I

ITA 357/LKW/2020[2017-18]Status: DisposedITAT Lucknow02 Apr 2025AY 2017-18

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 143(1)Section 143(2)Section 143(3)Section 80I

…butable to." It implies a direct nexus between the income and the business activity. Interest earned on surplus funds does not have a direct nexus with the core business activity of infrastructure development or power generation. Sterling Foods v. CIT (1999) 237 ITR 579 (SC): The Supreme Court reiterated that income must be directly derived from the business activity to qualify for deductions under Section 801A. In this case, the court held that the sale of import entitlements, though related to the business, was not directly derived from the industrial undertaking. Pandian Chemicals Ltd. v. CIT (2003) 262 ITR…

Springer Nature Technology and Publishing Solutions Private Limited, Pune vs. The Assistant Commissioner of Income Tax, Circle-1(1), Pune

The appeal of the Assessee is Partly Allowed for

ITA 418/PUN/2023[2017-18]Status: DisposedITAT Pune10 Feb 2025AY 2017-18

Bench: Dr.Dipak P. Ripote & Shri Vinay Bhamoreआयकर अपीलसं. / Ita No.418/Pun/2023 निर्धारणवर्ष / Assessment Year: 2017-18 Springer Nature Technology & Publishing Solutions Pvt. Ltd., Upper Ground Tower 8, Magarpatta City, Pune-411013. Pan: Aaccc8853E Appellant/ Assessee V The Assistant S Commissioner Of Income Tax, Circle-1(1), Pune. Respondent / Revenue Assessee By Shri Vishal Kalra – Ar Revenue By Shri Keyur Patel, Irs –Cit(Dr) Date Of Hearing 19/12/2024 Date Of Pronouncement | 10/02/2025 आदेश / Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals) [Nfac] For

Section 10ASection 143(3)Section 250

…6. In the course of business, the assessee was required to open a Letter of Credit. On such Deposit, the assessee earned interest. Under the said circumstances, the High Court held, following the judgment of this Court in the case of CIT Sterling Foods [1999] 237 ITR 579/ 104 Taxman 204, that the interest received by the assessee was on deposit made by it in the Banks, that such deposit was the source of income, and that, the mere fact that the deposit was made for obtaining Letter of Credit which Letter was, in turn, used for the purpose of business undertaking did not establish a direct nexus between the intere…

Excelra Knowledge Solutions Private Limited, Hyderabad vs. DCIT, Circle-8(1), Hyderabad

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

ITA 202/HYD/2023[2020-21]Status: DisposedITAT Hyderabad23 Jan 2025AY 2020-21

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Madhusudan Sawdiaआ.अपी.सं /Ita No.202/Hyd/2023 (िनधा"रण वष"/Assessment Year: 2020-21) Excelra Knowledge Vs. Dy. Cit Solutions (P) Ltd, Circle 8(1) Hyderabad Hyderabad Pan:Aafcg5715Q (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri H. Srinivasulu, Advocate राज" व "ारा/Revenue By:: Shri Kumar Pranav, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 25/11/2024 घोषणा की तारीख/Pronouncement: 23/01/2025 आदेश/Order Per Vijay Pal Raothis Appeal Filed By The Assessee Is Directed Against The Order Dated10/02/2023 Of The Learned Cit (A)-Nfac Delhi, Relating To A.Y.2020-21. 2. The Assessee Has Raised The Following Grounds:

For Appellant: Shri H. Srinivasulu, AdvocateFor Respondent: : Shri Kumar Pranav, CIT(DR)
Section 10ASection 143(1)Section 438Section 43B

…In the course of business, the assessee was required to open a Letter of Credit. On such Deposit, the assessee earned interest. Under the said circumstances, the High Court held, following the judgment of this Court in the case of CIT v. Sterling Foods [1999] 237 ITR 579/ 104 Taxman 204, that the interest received by the assessee was on deposit made by it in the Banks; that such deposit was the source of Page 14 of 19 ITA No 202 of 2023 Excelra Knowledge Solutions P Ltd income; and that, the mere fact that the deposit was made for obtaining Letter of Credit which Letter was, in turn, used for the purpose of bus…

ACIT Circle 8(3)(1), Mumbai vs. Thirumalai Chemicals Limited, Mumbai

Appeal of the revenue is dismissed

ITA 3358/MUM/2024[2018-19]Status: DisposedITAT Mumbai07 Jan 2025AY 2018-19

Bench: Shri Anikesh Banerjee, Jm & Ms Padmavathy S, Am

For Appellant: Shri Deepak Shah, CAFor Respondent: Shri Hemanshu Joshi, Sr. DR
Section 143(1)Section 32Section 801ASection 80I

…claiming of deduction u/s.801A have not been met? M/s. Thirumalai Chemicals Ltd. 2. Whether on the facts and in the circumstances of the case and in law, the LD.CIT(A) erred in ignoring the ratio of Supreme Court judgements in in the case of Sterling Foods 237 ITR 53(SC) and in the case of Cambay Electrical Supply Company Ltd. 113 ITR 84 wherein it is held that the income incidental to the main business of the assessee and there is no direct nexus between the income and the industrial undertaking is not direct but incidental only ? 3. Whether on the facts and in the circumstances of the case and in law, the Ld…

The Dy CIT CC-38, Mumbai vs. M/S. United Phosphourous Ltd., Mumbai

ITA 4099/MUM/2004[2000-2001]Status: DisposedITAT Mumbai24 Dec 2024AY 2000-2001

Bench: Shri Amit Shukla & Smt.Renu Jauhri, Accountan Member

For Appellant: Ms. Vasanti Patel, Adv &For Respondent: Shri Heera Ram Choudhary, Sr. DR
Section 143(3)

…IB as well as u/s 80HHC relate to the interpretation of the term 'derived from'. It is noticed that the Ld. AO while deciding the issues relating to section 8oIB has placed reliance on the Hon'ble Supreme Court's decision in the case of CIT v/s Sterling Foods 237 ITR 579 and National Organic Chemical Industries Ltd. v/.s Collector of Central Excise (1997) 106 STC 467 to interpret the term 'derived from'. Ld. CIT(A) partly allowed the assessee's appeal on this issue, based on his Page 31 ITA Nos. 3456 & 4099/Mum/2004 Α.Υ. 2000-01 M/s United Phosphorous Ltd.) own decision in earlier years' cases as well as decision…

DCIT(CC)-2(4), Mumbai vs. Macleods Pharmaceuticals Limited, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 3474/MUM/2024[2016-17]Status: DisposedITAT Mumbai28 Oct 2024AY 2016-17

Bench: Shri Pavan Kumar Gadale & Shri Girish Agrawal

For Appellant: Shri Ashok Bansal, CAFor Respondent: Shri Pankaj Kumar, CIT DR
Section 153ASection 35Section 80ISection 92B

…es which have no relevance to the industrial undertaking, cannot be deducted in respect of the said undertaking while computing the profits and gains of the undertaking. Macleods Pharmaceuticals Ltd., AY 2013-14 to 2016-17 11. In CIT v. Sterling Foods [1999] 237 ITR 579/104 Taxman 204 (SC); following question was considered by the Supreme Court (Page 581): "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the receipt from the sale of import entitlements could not be included in the income of the assessee for the purpose of computing the relief under s…

DCIT(CC)-2(4), Mumbai vs. Macleods Pharmaceuticals Limited, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 3473/MUM/2024[2015-16]Status: DisposedITAT Mumbai28 Oct 2024AY 2015-16

Bench: Shri Pavan Kumar Gadale & Shri Girish Agrawal

For Appellant: Shri Ashok Bansal, CAFor Respondent: Shri Pankaj Kumar, CIT DR
Section 153ASection 35Section 80ISection 92B

…es which have no relevance to the industrial undertaking, cannot be deducted in respect of the said undertaking while computing the profits and gains of the undertaking. Macleods Pharmaceuticals Ltd., AY 2013-14 to 2016-17 11. In CIT v. Sterling Foods [1999] 237 ITR 579/104 Taxman 204 (SC); following question was considered by the Supreme Court (Page 581): "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the receipt from the sale of import entitlements could not be included in the income of the assessee for the purpose of computing the relief under s…

DCIT(CC)-2(4), Mumbai. vs. Macleods Pharmaceuticals Limited, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 3472/MUM/2024[2014-15]Status: DisposedITAT Mumbai28 Oct 2024AY 2014-15

Bench: Shri Pavan Kumar Gadale & Shri Girish Agrawal

For Appellant: Shri Ashok Bansal, CAFor Respondent: Shri Pankaj Kumar, CIT DR
Section 153ASection 35Section 80ISection 92B

…es which have no relevance to the industrial undertaking, cannot be deducted in respect of the said undertaking while computing the profits and gains of the undertaking. Macleods Pharmaceuticals Ltd., AY 2013-14 to 2016-17 11. In CIT v. Sterling Foods [1999] 237 ITR 579/104 Taxman 204 (SC); following question was considered by the Supreme Court (Page 581): "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the receipt from the sale of import entitlements could not be included in the income of the assessee for the purpose of computing the relief under s…

Deputy Commissioner of Income Tax, (CC)-2(4), Mumbai vs. Macleods Pharmaceuticals Limited, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 3471/MUM/2024[2013-14]Status: DisposedITAT Mumbai28 Oct 2024AY 2013-14

Bench: Shri Pavan Kumar Gadale & Shri Girish Agrawal

For Appellant: Shri Ashok Bansal, CAFor Respondent: Shri Pankaj Kumar, CIT DR
Section 153ASection 35Section 80ISection 92B

…es which have no relevance to the industrial undertaking, cannot be deducted in respect of the said undertaking while computing the profits and gains of the undertaking. Macleods Pharmaceuticals Ltd., AY 2013-14 to 2016-17 11. In CIT v. Sterling Foods [1999] 237 ITR 579/104 Taxman 204 (SC); following question was considered by the Supreme Court (Page 581): "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the receipt from the sale of import entitlements could not be included in the income of the assessee for the purpose of computing the relief under s…

The Dy. Commissioner of Income Tax, Circle-2(1)(1), Baroda vs. M/S. Sun Pharma Laboratories Ltd., Mumbai

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

ITA 741/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad09 Oct 2024AY 2015-16

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 115JSection 143(3)Section 14ASection 36(1)(va)Section 37(1)Section 80Section 80I

…loyees and bank deposits as such interest income is not I.T.A Nos.712 & 741 /Ahd/2019 A.Y. 2015-16 3 Sun Pharma Labs. Ltd. vs. DCIT income derived from industrial undertaking as held by Hon’ble Supreme Court in the case of CIT -Vs- Sterling Foods reported in 237 ITR 579 and Liberty India -Vs- CIT reported in 317 ITR 218. The above disallowance of deduction was upheld by CIT (Appeal) in his order, wherein he has observed that identical issue has been decided against the erstwhile Sun Pharma, Sikkim [SPS] by CIT(Appeals)-37, Mumbai, for A.Y. 2010-11 following the order of Hon’ble ITAT in the case of Sun Pharmaceut…

Sun Pharma Laboratories Ltd., Mumbai vs. The Dy. Commissioner of Income Tax, Circle-2(1)(1), Baroda

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

ITA 712/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad09 Oct 2024AY 2015-16

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 115JSection 143(3)Section 14ASection 36(1)(va)Section 37(1)Section 80Section 80I

…loyees and bank deposits as such interest income is not I.T.A Nos.712 & 741 /Ahd/2019 A.Y. 2015-16 3 Sun Pharma Labs. Ltd. vs. DCIT income derived from industrial undertaking as held by Hon’ble Supreme Court in the case of CIT -Vs- Sterling Foods reported in 237 ITR 579 and Liberty India -Vs- CIT reported in 317 ITR 218. The above disallowance of deduction was upheld by CIT (Appeal) in his order, wherein he has observed that identical issue has been decided against the erstwhile Sun Pharma, Sikkim [SPS] by CIT(Appeals)-37, Mumbai, for A.Y. 2010-11 following the order of Hon’ble ITAT in the case of Sun Pharmaceut…