CIT v. Thana Electricity Supply Ltd.

206 ITR 727High Court1994#323 most cited

What is CIT v. Thana Electricity Supply Ltd. authority for?

The law declared by the Supreme Court is binding on all courts in India, and decisions of a High Court are binding on subordinate courts and tribunals within its jurisdiction but not on courts or tribunals outside its jurisdiction.

260

judgments rely on this decision, according to BharatTax’s citation analysis of 367,368 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Thana Electricity Supply Ltd. · 206 ITR 727 · 1994 · Bombay High Court · binding precedent · judicial hierarchy · High Court decisions · non-jurisdictional High Court · Income Tax Act 1961 · ITAT

Sections most often in play

Section 143(3)Section 142(1)Section 1961Section 147Section 1894Section 194ASection 143(1)Section 56(2)(viii)

Issues it is cited on

section 2(viii)section 56(viii)section 45(5)(c)section 155(16)undisclosed foreign income and assetssection 23(1a)section 45(5)(b)section 104section 145b(1)section 149(1)(c)section 194lakeyman insurance

Judgments citing CIT v. Thana Electricity Supply Ltd.

Shri Jivico Karmachari Co-Operative Credit Society Limited, Rajkot, Gujarat vs. Income Tax Officer, Ward 2(1)(1), Rajkot, Gujarat

In the result, appeal filed by the assessee is allowed

ITA 48/RJT/2025[2017-18]Status: DisposedITAT Rajkot21 Jul 2025AY 2017-18

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita Nos.48/Rjt/2025 ("नधा"रण वष" /Assessment Year: (2017-18) Shri Jivico Karmachari Co- Income Tax Officer, Operative Credit Society Ltd. Ward-2(1)(1), Rajkot, Aayakar Vs. Bhawan, Race Course Ring Road, Jivan Prakash, Mahila College Rajkot-360 001 Chowk, Tagore Marg, Rajkot-360 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaoas 6270 K (अपीलाथ" /Appellant) (""यथ" /Respondent) "नधा"रती क" ओर से /Assessee By : Shri Krutarth Desai, Ar राज"व क" ओर से /Revenue By :Shri Abhimanyu Singh Yadav, Sr-Dr सुनवाई क" तार"ख/ Date Of Hearing : 03/07/2025 घोषणा क" तार"ख/Date Of Pronouncement : 21/07/2025 आदेश / O R D E R Per Dr. A.L. Saini, A.M:

For Appellant: Shri Krutarth Desai, ARFor Respondent: Shri Abhimanyu Singh Yadav, Sr-DR
Section 142(1)Section 143(3)Section 250Section 56Section 80P(2)(a)Section 80P(2)(d)

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपील सं./ITA Nos.48/RJT/2025 ("नधा"रण वष" /Assessment Year: (2017-18) Shri Jivico Karmachari Co- Income Tax Officer, Operative Credit Society Ltd. Ward-2(1)(1), Rajkot, Aayakar Vs. Bhawan, Race Course Ring Road, Jivan Prakash, Mahila College Rajkot-360 001 Chowk, Tagore Marg, Rajkot-360 001 "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAOAS 6270 K (अपीलाथ" /Appellant) (""यथ" /Respondent) "नधा"रती क" ओर से /Assessee by : Shri Krutarth Desai, AR राज"व क" ओर से /Revenue b…

ACIT, Central Circle-2(3), Pune vs. Subhash Jivraj Jain, Pune

In the result, the appeal filed by the Revenue is dismissed and the CO filed by the assessee is allowed

ITA 1690/PUN/2024[2017-18]Status: DisposedITAT Pune21 Jul 2025AY 2017-18

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2017-18

For Appellant: Shri Nikhil S PathakFor Respondent: Shri Akhilesh Srivastva, Addl.CIT
Section 131Section 132Section 143(2)Section 153C

…issue of reliance on the decision favourable to the assessee when two conflicting decisions on the same issue are available is concerned, he submitted that the Hon’ble jurisdictional High Court in the case of CIT vs. Thana Electricity Supply Ltd., reported in 206 ITR 727 (Bom) has held that it is 12 CO No.29/PUN/2025 satisfaction of the Court interpreting the law, in that the language of the taxing provision is ambiguous or reasonably capable of more meanings than one which is material. If the court does not think so, the fact that two different opinions have been expressed by the parties or accepted by some Tri…

Ashok Bharti Goswami, Pune vs. ACIT, Central Circle 2(1), Pune

In the result, all the appeals filed by the respective assessees are allowed

ITA 1272/PUN/2024[2018-19]Status: DisposedITAT Pune14 Jul 2025AY 2018-19

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Appellant: S/Shri Kishor B Phadke &For Respondent: S/Shri Sandeep Sengupta, CIT &
Section 131Section 132Section 142(1)Section 143(1)Section 153C

…issue of reliance on the decision favourable to the assessee when two conflicting decisions on the same issue are available is concerned, he submitted that the Hon’ble jurisdictional High Court in the case of CIT vs. Thana Electricity Supply Ltd., reported in 206 ITR 727 (Bom) has held that it is satisfaction of the Court interpreting the law, in that the language of the taxing provision is ambiguous or reasonably capable of more meanings than one which is material. If the court does not think so, the fact that two different opinions have will not be sufficient to attract the principle of beneficiary interpretati…

Ashish Ramesh Oswal, Pune vs. ACIT, Central Circle 2(1), Pune

ITA 1271/PUN/2024[2017-18]Status: DisposedITAT Pune14 Jul 2025AY 2017-18

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Appellant: S/Shri Kishor B Phadke &For Respondent: S/Shri Sandeep Sengupta, CIT &
Section 131Section 132Section 142(1)Section 143(1)Section 153C

…issue of reliance on the decision favourable to the assessee when two conflicting decisions on the same issue are available is concerned, he submitted that the Hon'ble jurisdictional High Court in the case of CIT vs. Thana Electricity Supply Ltd., reported in 206 ITR 727 (Bom) has held that it is satisfaction of the Court interpreting the law, in that the language of the taxing provision is ambiguous or reasonably capable of more meanings than one which is material. If the court does not think so, the fact that two different opinions have been expressed by the parties or accepted by some Tribunal or High Court by…

Adish Shantilal Solanki, Pune vs. Assistant Commissioner of Income Tax, Central Circle-2(1), Pune

ITA 1270/PUN/2024[2017-18]Status: DisposedITAT Pune14 Jul 2025AY 2017-18

Bench: Shri R. K. Panda & Shri Vinay Bhamore

Section 131Section 132Section 142(1)Section 143(1)Section 153C

…issue of reliance on the decision favourable to the assessee when two conflicting decisions on the same issue are available is concerned, he submitted that the Hon'ble jurisdictional High Court in the case of CIT vs. Thana Electricity Supply Ltd., reported in 206 ITR 727 (Bom) has held that it is satisfaction of the Court interpreting the law, in that the language of the taxing provision is ambiguous or reasonably capable of more meanings than one which is material. If the court does not think so, the fact that two different opinions have been expressed by the parties or accepted by some Tribunal or High Court by…

Chitra Narendra Parmar, Pune vs. Assistant Commissioner of Income Tax, Central Circle-2(1), Pune

In the result, all the appeals filed by the respective assessees are allowed

ITA 1269/PUN/2024[2017-18]Status: DisposedITAT Pune14 Jul 2025AY 2017-18

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Appellant: S/Shri Kishor B Phadke &For Respondent: S/Shri Sandeep Sengupta, CIT &
Section 131Section 132Section 142(1)Section 143(1)Section 153C

…issue of reliance on the decision favourable to the assessee when two conflicting decisions on the same issue are available is concerned, he submitted that the Hon’ble jurisdictional High Court in the case of CIT vs. Thana Electricity Supply Ltd., reported in 206 ITR 727 (Bom) has held that it is satisfaction of the Court interpreting the law, in that the language of the taxing provision is ambiguous or reasonably capable of more meanings than one which is material. If the court does not think so, the fact that two different opinions have will not be sufficient to attract the principle of beneficiary interpretati…

Ramlal Bhikulal Shah, Pune vs. ACIT, Central Circle 2(1), Pune

In the result, all the appeals filed by the respective assessees are allowed

ITA 1268/PUN/2024[2017-18]Status: DisposedITAT Pune14 Jul 2025AY 2017-18

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Appellant: S/Shri Kishor B Phadke &For Respondent: S/Shri Sandeep Sengupta, CIT &
Section 131Section 132Section 142(1)Section 143(1)Section 153C

…issue of reliance on the decision favourable to the assessee when two conflicting decisions on the same issue are available is concerned, he submitted that the Hon’ble jurisdictional High Court in the case of CIT vs. Thana Electricity Supply Ltd., reported in 206 ITR 727 (Bom) has held that it is satisfaction of the Court interpreting the law, in that the language of the taxing provision is ambiguous or reasonably capable of more meanings than one which is material. If the court does not think so, the fact that two different opinions have will not be sufficient to attract the principle of beneficiary interpretati…

Deepak Kantilal Jain, Pune vs. ACIT, Central Circle 2(1), Pune

The appeal stands dismissed

ITA 1267/PUN/2024[2017-18]Status: DisposedITAT Pune14 Jul 2025AY 2017-18

Bench: Shri R. K. Panda & Shri Vinay Bhamore

Section 131Section 132Section 142(1)Section 143(1)Section 153C

…issue of reliance on the decision favourable to the assessee when two conflicting decisions on the same issue are available is concerned, he submitted that the Hon'ble jurisdictional High Court in the case of CIT vs. Thana Electricity Supply Ltd., reported in 206 ITR 727 (Bom) has held that it is satisfaction of the Court interpreting the law, in that the language of the taxing provision is ambiguous or reasonably capable of more meanings than one which is material. If the court does not think so, the fact that two different opinions have been expressed by the parties or accepted by some Tribunal or High Court by…

Deepak Kantilal Jain, Pune vs. ACIT, Central Circle 2(1), Pune

The appeal stands dismissed

ITA 1265/PUN/2024[2016-17]Status: DisposedITAT Pune14 Jul 2025AY 2016-17

Bench: Shri R. K. Panda & Shri Vinay Bhamore

Section 131Section 132Section 142(1)Section 143(1)Section 153C

…issue of reliance on the decision favourable to the assessee when two conflicting decisions on the same issue are available is concerned, he submitted that the Hon'ble jurisdictional High Court in the case of CIT vs. Thana Electricity Supply Ltd., reported in 206 ITR 727 (Bom) has held that it is satisfaction of the Court interpreting the law, in that the language of the taxing provision is ambiguous or reasonably capable of more meanings than one which is material. If the court does not think so, the fact that two different opinions have been expressed by the parties or accepted by some Tribunal or High Court by…

Ramanlal Bhikulal Shah, Pune vs. ACIT, Central Circle 2(1), Pune

In the result, all the appeals filed by the respective assessees are allowed

ITA 1264/PUN/2024[2016-17]Status: DisposedITAT Pune14 Jul 2025AY 2016-17

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Appellant: S/Shri Kishor B Phadke &For Respondent: S/Shri Sandeep Sengupta, CIT &
Section 131Section 132Section 142(1)Section 143(1)Section 153C

…issue of reliance on the decision favourable to the assessee when two conflicting decisions on the same issue are available is concerned, he submitted that the Hon’ble jurisdictional High Court in the case of CIT vs. Thana Electricity Supply Ltd., reported in 206 ITR 727 (Bom) has held that it is satisfaction of the Court interpreting the law, in that the language of the taxing provision is ambiguous or reasonably capable of more meanings than one which is material. If the court does not think so, the fact that two different opinions have will not be sufficient to attract the principle of beneficiary interpretati…

Chitra Narendra Parmar, Pune vs. ACIT, Central Circle 2(1), Pune

In the result, all the appeals filed by the respective assessees are allowed

ITA 1262/PUN/2024[2016-17]Status: DisposedITAT Pune14 Jul 2025AY 2016-17

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Appellant: S/Shri Kishor B Phadke &For Respondent: S/Shri Sandeep Sengupta, CIT &
Section 131Section 132Section 142(1)Section 143(1)Section 153C

…issue of reliance on the decision favourable to the assessee when two conflicting decisions on the same issue are available is concerned, he submitted that the Hon’ble jurisdictional High Court in the case of CIT vs. Thana Electricity Supply Ltd., reported in 206 ITR 727 (Bom) has held that it is satisfaction of the Court interpreting the law, in that the language of the taxing provision is ambiguous or reasonably capable of more meanings than one which is material. If the court does not think so, the fact that two different opinions have will not be sufficient to attract the principle of beneficiary interpretati…

Trust Fund for Empowerment of Persons With Disabilities, New Delhi vs. ACIT (Exemptions), New Delhi

ITA 1453/DEL/2019[2015-16]Status: DisposedITAT Delhi10 Jul 2025AY 2015-16

Bench: Shri S Rifaur Rahman & Shri Sudhir Pareek

For Appellant: NoneFor Respondent: Ms. Monika Singh, CIT(DR)
Section 11Section 11(2)Section 11(3)Section 11(3)(c)Section 234ASection 271(1)(c)

…he same for the specific purpose. Thus, assessee could not claim the benefit of accumulation with respect to the deemed income. Under the circumstances, and in the light of the decision of the Bombay high Court in CIT to. Thand Electricity Supply Ltd. [1994] 206 ITR 727 the assessee was not entitled to the benefit of accumulation of deemed income which was taxable under section 11(3). The assessee relied upon certain decisions in support of its contention that a legal fiction luts to be carried to its logical conclusion. A legal fiction, no doubt, has to be carried to its logical concltision but at the same tim…

ACIT-6(1)(1), Mumbai vs. Alok Industries Ltd., Mumbai

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

ITA 725/MUM/2025[2007-08]Status: DisposedITAT Mumbai30 May 2025AY 2007-08

Bench: Shri Om Prakash Kant, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: Shri Nimesh VoraFor Respondent: MS. Deepa Hiray (Addl. CIT)
Section 115JSection 143(3)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, AM AND MS. KAVITHA RAJAGOPAL, JM ITA Nos. 726, 725 & 727/Mum/2025 (Assessment Year: 2006-07 to 2008-09) ACIT-6(1)(1), Mumbai Alok Industries Ltd. 3rd 504, Aaykar Bhavan, M. K. Road, Floor, Tower-B, Peninsula Mumbai – 400020. Vs. Business Park, G. K. Marg, Delisle Road, Mumbai – 400013. PAN/GIR No. AAACA0201C (Appellant) : (Respondent) Assessee by : Shri Nimesh Vora Respondent by : MS. Deepa Hiray (Addl. CIT) Date of Hearing : 30.04.2025 Date of Pronouncement : 30.05.2025 O R D E R Per Kavitha Rajagopal, J M: These are appeals file…

Shree Jamnagar Jilla Sahakari Kharid Vechan Sangh Limited, Jamnagar vs. DCIT-Cir-2(1), Jamnagar

In the result, appeal filed by the assessee is allowed

ITA 223/RJT/2025[2018-2019]Status: DisposedITAT Rajkot16 May 2025AY 2018-2019

Bench: Dr. Arjun Lal Sainiआयकर अपील सं./ Ita No.223/Rjt/2025 "नधा"रण वष"/Assessment Year : 2018-19

For Appellant: Ms. Janvi Shah, ARFor Respondent: Shri Dheeraj Kumr Gupta, Sr-DR
Section 142(1)Section 144Section 250Section 80P(2)(d)

…d judgment of the Jurisdictional High Court should be given importance and it should be followed invariably, for that, the ld. D.R. for the Revenue relied on the judgment of Hon’ble Bombay High Court in the case of CIT vs. Thane Electricity Supply Ltd. (1994) 206 ITR 727. In this context, we state that assessing officer has thoroughly followed the judicial discipline, as we have explained above that the judgment of the Hon’ble Jurisdictional High Court of Gujarat in the case of Katlary Karayana (supra) does not apply to the assessee under consideration and therefore the view taken by the assessing officer is plau…

Shri Nidhi Credit Co-Oprative Society Limited, Rajkot vs. ITO 3(1)(1), Rajkot

In the result, appeal filed by the assessee is allowed

ITA 936/RJT/2024[2014-2015]Status: DisposedITAT Rajkot30 Apr 2025AY 2014-2015

Bench: Dr. Arjun Lal Saini, Am. & Shr Dinesh Mohan Sinha, Jm आयकर अपील सं./Ita No.936/Rjt/2024 "नधा"रण वष" / Assessment Year: (2014-15)

For Appellant: Shri J.R. Mankodi, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. (DR)
Section 142(1)Section 143(3)Section 80PSection 80P(2)(a)Section 80P(2)(d)

…d judgment of the Jurisdictional High Court should be given importance and it should be followed invariably, for that, the ld. D.R. for the Revenue relied on the judgment of Hon’ble Bombay High Court in the case of CIT vs. Thane Electricity Supply Ltd. (1994) 206 ITR 727. In this context, we state that assessing officer has thoroughly followed the judicial discipline, as we have explained above that the judgment of the Hon’ble Jurisdictional High Court of Gujarat in the case of Katlary Karayana (supra) does not apply to the assessee under consideration and therefore the view taken by the assessing officer is plau…

The Morbi Citizens Credit Co-Oprative Society Limited, Morvi vs. Assessment Unit, Income Tax Department

In the result, appeal filed by the assessee is allowed

ITA 285/RJT/2024[2020-2021]Status: DisposedITAT Rajkot27 Mar 2025AY 2020-2021

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकरअपीलसं./Ita No.285/Rjt/2024 Assessment Year: (2020-21) (Hybrid Hearing) The Morbi Citizens Credit Co- Vs. The Assessment Unit, Operative Society Ltd., Income Tax Department Above Murlidhar Sales National Faceless Agency, Savsar Plot, Ram Assessment Center Chowk, Morbid - 363641 (Nfac), Gujarat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabat2850K (Appellant) (Respondent)

For Appellant: Shri J.R. Mankodi, Ld. A.RFor Respondent: Shri Sanjay Pungalia, Ld.CIT.DR
Section 142(1)Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…nd judgment of the Jurisdictional High Court should be given importance and it should be followed invariably, for that, the ld. D.R. for the Revenue relied on the judgment of Hon’ble Bombay High Court in the case of CIT vs. Thane Electricity Supply Ltd.(1994) 206 ITR 727. In this context, we state that assessing officer has thoroughly followed the judicial discipline, as we have explained above that the judgment of the Hon’ble Jurisdictional High Court of Gujarat in the case of Katlary Karayana (supra) does not apply to the assessee under consideration and therefore the view taken by the assessing officer is plau…

Classic Mall Development Company Limited, Mumbai vs. Assistant Commissioner of Income Tax, Circle 6(2)(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 5320/MUM/2024[2016-17]Status: DisposedITAT Mumbai21 Mar 2025AY 2016-17

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2016-17

For Appellant: Shri Vijay Mehta, CAFor Respondent: Shri R.A. Dhyani, CIT DR &
Section 143(3)Section 23(1)Section 23(1)(a)

…other High Court nor for Courts or Tribunals outside its jurisdiction. He placed strong reliance on the decision of Hon’ble Jurisdictional High Court of Bombay which carried a force of binding nature in the case of CIT vs. Thane Electricity Supply Ltd. [1994] 206 ITR 727 (Bom) and Consolidated Numatic Tools Co. (India) Ltd. vs. CIT [1994] 209 ITR 277 (Bom), wherein it is held that decisions of a non Jurisdictional High Court is not binding on Courts or the Tribunals which are outside its jurisdiction. This decision of Hon’ble Jurisdictional High Court of Bombay has been followed by Hon’ble Special Bench of ITAT,…

Sultanpur Juth Seva Sahakari Mandali Ltd., Sultanpur, Tal. Gondal, Dist. Rajkot vs. The DCIT, Circle-1 (1), Rajkot

In the result, appeal filed by the assessee is allowed

ITA 697/RJT/2024[2018-19]Status: DisposedITAT Rajkot27 Feb 2025AY 2018-19

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No.492 & 493 & 697/Rjt/2024 ("नधा"रण वष"/Assessment Year: (2018-19 & 2020-21) Sultanpur Juth Seva Sahkari Assessment Unit, Nfac Mandali Ltd. (Present Juris. Acit-Dcit Vs. Cir-1(1) Sultanpur, At Sultanpur Tal: Gondal, Dist. It Office, New Aayakar Bhavan, Vatiaka, Rajkot – 364470 Rajkot - 360001 "थायी लेखा सं./जीआइआरसं./Pan/Gir No.: Aaabs0194F (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Sulabh Pad Shah, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. DR
Section 142(1)Section 143(3)Section 270ASection 80P(2)(a)Section 80P(2)(d)

…nd judgment of the Jurisdictional High Court should be given importance and it should be followed invariably, for that, the ld. D.R. for the Revenue relied on the judgment of Hon’ble Bombay High Court in the case of CIT vs. Thane Electricity Supply Ltd.(1994) 206 ITR 727. In this context, we state that assessing officer has thoroughly followed the judicial discipline, as we have explained above that the judgment of the Hon’ble Jurisdictional High Court of Gujarat in the case of KatlaryKarayana (supra) does not apply to the assessee under consideration and therefore the view taken by the assessing officer is plaus…

Sultanpur Juth Seva Sahkari Mandli Ltd, Rajkot vs. Assessment Unit, NFAC (Present Juris. ACIT-DCIT Cir 1(1), Rajkot

In the result, appeal filed by the assessee is allowed

ITA 493/RJT/2024[2020-21]Status: DisposedITAT Rajkot27 Feb 2025AY 2020-21

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No.492 & 493 & 697/Rjt/2024 ("नधा"रण वष"/Assessment Year: (2018-19 & 2020-21) Sultanpur Juth Seva Sahkari Assessment Unit, Nfac Mandali Ltd. (Present Juris. Acit-Dcit Vs. Cir-1(1) Sultanpur, At Sultanpur Tal: Gondal, Dist. It Office, New Aayakar Bhavan, Vatiaka, Rajkot – 364470 Rajkot - 360001 "थायी लेखा सं./जीआइआरसं./Pan/Gir No.: Aaabs0194F (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Sulabh Pad Shah, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. DR
Section 142(1)Section 143(3)Section 270ASection 80P(2)(a)Section 80P(2)(d)

…nd judgment of the Jurisdictional High Court should be given importance and it should be followed invariably, for that, the ld. D.R. for the Revenue relied on the judgment of Hon’ble Bombay High Court in the case of CIT vs. Thane Electricity Supply Ltd.(1994) 206 ITR 727. In this context, we state that assessing officer has thoroughly followed the judicial discipline, as we have explained above that the judgment of the Hon’ble Jurisdictional High Court of Gujarat in the case of KatlaryKarayana (supra) does not apply to the assessee under consideration and therefore the view taken by the assessing officer is plaus…

Sultanpur Juth Seva Sahkari Mandli Ltd, Rajkot vs. Assessment Unit, NFAC (Present Juris. ACIT-Dict Cir 1(1) Rajkot), Rajkot

In the result, appeal filed by the assessee is allowed

ITA 492/RJT/2024[2018-19]Status: DisposedITAT Rajkot27 Feb 2025AY 2018-19

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No.492 & 493 & 697/Rjt/2024 ("नधा"रण वष"/Assessment Year: (2018-19 & 2020-21) Sultanpur Juth Seva Sahkari Assessment Unit, Nfac Mandali Ltd. (Present Juris. Acit-Dcit Vs. Cir-1(1) Sultanpur, At Sultanpur Tal: Gondal, Dist. It Office, New Aayakar Bhavan, Vatiaka, Rajkot – 364470 Rajkot - 360001 "थायी लेखा सं./जीआइआरसं./Pan/Gir No.: Aaabs0194F (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Sulabh Pad Shah, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. DR
Section 142(1)Section 143(3)Section 270ASection 80P(2)(a)Section 80P(2)(d)

…nd judgment of the Jurisdictional High Court should be given importance and it should be followed invariably, for that, the ld. D.R. for the Revenue relied on the judgment of Hon’ble Bombay High Court in the case of CIT vs. Thane Electricity Supply Ltd.(1994) 206 ITR 727. In this context, we state that assessing officer has thoroughly followed the judicial discipline, as we have explained above that the judgment of the Hon’ble Jurisdictional High Court of Gujarat in the case of KatlaryKarayana (supra) does not apply to the assessee under consideration and therefore the view taken by the assessing officer is plaus…