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 1961 Section 147 Section 1894 Section 194A Section 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 assets section 23(1a)section 45(5)(b)section 104 section 145b(1)section 149(1)(c)section 194la keyman insurance

Judgments citing CIT v. Thana Electricity Supply Ltd.

Manjulaben Bipinbhai Patel Legal Heir of Late Bipinbhai P.Patel, Baroda vs. The Dy.CIT. Central Circle-1, Baroda

ITA 1898/AHD/2019[2004-05]Status: HeardITAT Ahmedabad10 Sept 2024AY 2004-05

Bench: Ms. Suchitra Kamble, Judical Member & Shri Narendra Prasad Sinha

…Brahm Dutt (supra) is reproduced below: 9. Clearly, thus, the Hon'ble non-jurisdictional High Court decisions do not bind us in law in all the situations, as held by our Hon'ble jurisdictional High Court in the case of CIT v. Thana Electricity Co. Ltd. [1994] 206 ITR 727, and, more so in this case, particularly when Explanation below section 149(3), which did not come up for consideration before Their Lordships, has explicitly been relied upon by the learned Commissioner (Departmental Representative) before us. The Hon'ble non-jurisdictional High Court judgment, as we have seen in our analysis 44 I.T.A No. 1894/…

Manjulaben Bipinbhai Patel Legal Heir of Late Bipinbhai P.Patel, Baroda vs. The Dy.CIT. Central Circle-1, Baroda

ITA 1897/AHD/2019[2003-04]Status: HeardITAT Ahmedabad10 Sept 2024AY 2003-04

Bench: Ms. Suchitra Kamble, Judical Member & Shri Narendra Prasad Sinha

…Brahm Dutt (supra) is reproduced below: 9. Clearly, thus, the Hon'ble non-jurisdictional High Court decisions do not bind us in law in all the situations, as held by our Hon'ble jurisdictional High Court in the case of CIT v. Thana Electricity Co. Ltd. [1994] 206 ITR 727, and, more so in this case, particularly when Explanation below section 149(3), which did not come up for consideration before Their Lordships, has explicitly been relied upon by the learned Commissioner (Departmental Representative) before us. The Hon'ble non-jurisdictional High Court judgment, as we have seen in our analysis 44 I.T.A No. 1894/…

Manjulaben Bipinbhai Patel Legal Heir of Late Bipinbhai P.Patel, Baroda vs. The Dy.CIT. Central Circle-1, Baroda

ITA 1896/AHD/2019[2002-03]Status: HeardITAT Ahmedabad10 Sept 2024AY 2002-03

Bench: Ms. Suchitra Kamble, Judical Member & Shri Narendra Prasad Sinha

…Brahm Dutt (supra) is reproduced below: 9. Clearly, thus, the Hon'ble non-jurisdictional High Court decisions do not bind us in law in all the situations, as held by our Hon'ble jurisdictional High Court in the case of CIT v. Thana Electricity Co. Ltd. [1994] 206 ITR 727, and, more so in this case, particularly when Explanation below section 149(3), which did not come up for consideration before Their Lordships, has explicitly been relied upon by the learned Commissioner (Departmental Representative) before us. The Hon'ble non-jurisdictional High Court judgment, as we have seen in our analysis 44 I.T.A No. 1894/…

Manjulaben Bipinbhai Patel Legal Heir of Late Bipinbhai P.Patel, Baroda vs. The Dy.CIT. Central Circle-1, Baroda

ITA 1895/AHD/2019[2001-02]Status: HeardITAT Ahmedabad10 Sept 2024AY 2001-02

Bench: Ms. Suchitra Kamble, Judical Member & Shri Narendra Prasad Sinha

…Brahm Dutt (supra) is reproduced below: 9. Clearly, thus, the Hon'ble non-jurisdictional High Court decisions do not bind us in law in all the situations, as held by our Hon'ble jurisdictional High Court in the case of CIT v. Thana Electricity Co. Ltd. [1994] 206 ITR 727, and, more so in this case, particularly when Explanation below section 149(3), which did not come up for consideration before Their Lordships, has explicitly been relied upon by the learned Commissioner (Departmental Representative) before us. The Hon'ble non-jurisdictional High Court judgment, as we have seen in our analysis 44 I.T.A No. 1894/…

Manjulaben Bipinbhai Patel Legal Heir of Late Bipinbhai P.Patel, Baroda vs. The Dy.CIT. Central Circle-1, Baroda

ITA 1894/AHD/2019[2000-01]Status: HeardITAT Ahmedabad10 Sept 2024AY 2000-01

Bench: Ms. Suchitra Kamble, Judical Member & Shri Narendra Prasad Sinha

…Brahm Dutt (supra) is reproduced below: 9. Clearly, thus, the Hon'ble non-jurisdictional High Court decisions do not bind us in law in all the situations, as held by our Hon'ble jurisdictional High Court in the case of CIT v. Thana Electricity Co. Ltd. [1994] 206 ITR 727, and, more so in this case, particularly when Explanation below section 149(3), which did not come up for consideration before Their Lordships, has explicitly been relied upon by the learned Commissioner (Departmental Representative) before us. The Hon'ble non-jurisdictional High Court judgment, as we have seen in our analysis 44 I.T.A No. 1894/…

DCIT, Circle-7(1), Delhi vs. Dlf Midtown Private Limited, Delhi

In the result, the appeal of the appellant assessee is allowed and appeal of Department of Revenue is dismissed

ITA 2859/DEL/2024[2016-17]Status: DisposedITAT Delhi06 Sept 2024AY 2016-17

Bench: DR. B.R.R. KUMAR (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

Section 143(3)Section 92Section 92BSection 92C

…ident), the coordinate bench has observed as follows: While dealing with judicial precedents from non- jurisdictional High Courts, we may usefully take of observations of Hon’ble jurisdictional High Court in the case of CIT Vs Thana Electricity Co Ltd [(1994) 206 ITR 727 (Bom)], to the effect “The decision of one High Court is neither binding precedent for another High Court nor for the courts or the Tribunals outside its own territorial jurisdiction. It is well-settled that the decision of a High Court will have the force of binding precedent only in the State or territories on which the court has jurisdiction.…

Dlf Midtown P. Ltd, New Delhi vs. ACIT, Circle-7(2), New Delhi

In the result, the appeal of the appellant assessee is allowed and appeal of Department of Revenue is dismissed

ITA 1963/DEL/2022[2016-17]Status: DisposedITAT Delhi06 Sept 2024AY 2016-17

Bench: DR. B.R.R. KUMAR (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

Section 143(3)Section 92Section 92BSection 92C

…ident), the coordinate bench has observed as follows: While dealing with judicial precedents from non- jurisdictional High Courts, we may usefully take of observations of Hon’ble jurisdictional High Court in the case of CIT Vs Thana Electricity Co Ltd [(1994) 206 ITR 727 (Bom)], to the effect “The decision of one High Court is neither binding precedent for another High Court nor for the courts or the Tribunals outside its own territorial jurisdiction. It is well-settled that the decision of a High Court will have the force of binding precedent only in the State or territories on which the court has jurisdiction.…

Commissioner of Income Tax (International Taxation) - 3, Mumbai vs. Kuwait Investment Authority, Mumbai

ITA 478/MUM/2024[2017-18]Status: DisposedITAT Mumbai14 Aug 2024AY 2017-18

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Shri Farrokh Irani, A/RFor Respondent: Shri Anil Sant, Addl. CIT, D/R

Section 154Section 2

…e on judgment of non-jurisdictional High Court in the case of Bharti Gupta Ramola vs. CIT (20 taxmann.com 762(Del)) which has no binding precedence in view of judgment of Hon'ble jurisdictional High Court in the case of CIT Vs Thana Electricity Co Ltd [(1994) 206 ITR 727 (Bom)]? 3. Whether on the facts and in the circumstances of case, and in law, the Ld. CIT(A) has erred in treating the assessee as corporate entity instead of 'Non-corporate entity without appreciating the fact that the PAN of the assessee is obtained as a 'Trust' and not a 'Company'? 4. Whether on the facts and in the circumstances of case, an…

Dy. Commissioner of Income Tax(It)-3(1)(2), Mumbai vs. Kuwait Investment Authority, Mumbai

ITA 476/MUM/2024[2021-22]Status: DisposedITAT Mumbai14 Aug 2024AY 2021-22

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Rahul Chaudhary, Hon’Ble

For Appellant: Shri Farrokh Irani, A/RFor Respondent: Shri Anil Sant, Addl. CIT, D/R

Section 154Section 2

…e on judgment of non-jurisdictional High Court in the case of Bharti Gupta Ramola vs. CIT (20 taxmann.com 762(Del)) which has no binding precedence in view of judgment of Hon'ble jurisdictional High Court in the case of CIT Vs Thana Electricity Co Ltd [(1994) 206 ITR 727 (Bom)]? 3. Whether on the facts and in the circumstances of case, and in law, the Ld. CIT(A) has erred in treating the assessee as corporate entity instead of 'Non-corporate entity without appreciating the fact that the PAN of the assessee is obtained as a 'Trust' and not a 'Company'? 4. Whether on the facts and in the circumstances of case, an…

Panacea Boitec Ltd., New Delhi vs. Addi. CIT National Assessment Centre, New Delhi

In the result, the appeal of the assessee is allowed

ITA 807/DEL/2021[2016-17]Status: DisposedITAT Delhi22 May 2024AY 2016-17

Bench: Shri M Balaganesh & Shri Vimal Kumarasstt. Year: 2016-17 Panacea Boitec Ltd. Vs. Addl. Cit, G-3/B-1 Extension, National Assessment Mohan Coop. Indl Centre, Estate, Mathura Road New Delhi. New Delhi – 110044 Pan Aaacp5335J (Appellant) (Respondent)

For Appellant: Shri Salil Aggarwal, Sr. AdvocateFor Respondent: Shri Rajesh Kumar, CIT(DR)

Section 142(1)Section 143(2)Section 6Section 6(1)Section 92BSection 92C

…sident), the coordinate bench has observed as follows: While dealing with judicial precedents from non-jurisdictional High Courts, we may usefully take of observations of Hon’ble jurisdictional High Court in the case of CIT Vs Thana Electricity Co Ltd [(1994) 206 ITR 727 (Bom)], to the effect “The decision of one High Court is neither binding precedent for another High Court nor for the courts or the Tribunals outside its own territorial jurisdiction. It is well-settled that the decision of a High Court will have the force of binding precedent only in the State or territories on which the court has jurisdiction.…

Diadora Shoes Pvt Ltd, Calicut vs. ACIT Circle 2(1), Calicut

In the result, the assessee’s appeal is allowed

ITA 92/COCH/2023[2014-15]Status: DisposedITAT Cochin19 Apr 2024AY 2014-15

Bench: Shri Sanjay Arora, Am & Shri Anil Kumar Dugar, Jm

For Appellant: --- None ---For Respondent: Smt.J.M.Jamuna Devi, Sr.DR

Section 250Section 32(1)(iia)

…egin with, in terms of the law of precedence, the decision by only the Hon'ble Apex Court or the Hon'ble jurisdictional High Court is binding on the Tribunal (Suresh Desai & Ass. v. CIT [1998] 230 ITR 912 (Del); CIT v. Thana Electricity Supply Co. Ltd. [1994] 206 ITR 727 (Bom)(FB)). In case of conflict of opinion between the decisions by the non-jurisdictional High Court, it is the view that appeals to the judicial mind and conscience of the Tribunal that would prevail. Rather, that would the case even in the absence of any contrary view inasmuch as the view of the non-jurisdictional High Court, without doubt car…

Modi Entertainment Ltd vs. DCIT Circle 5 (1)

In the result, the appeal of the assessee on this ground is dismissed

ITA 3051/DEL/2007[2001-2002]Status: DisposedITAT Delhi12 Apr 2024AY 2001-2002

Bench: Sh. Saktijit Deydr. B. R. R. Kumar

For Appellant: Sh. Rohit Garg, AdvFor Respondent: Sh. Sanjay Kumar, Sr. DR

Section 10(33)Section 115JSection 143(3)Section 14ASection 2Section 4

…e conclusion; and (vii) when it is an erroneous decision, ie, a decision conflicting with the fundamental principles of law. Ld. Principal CIT(DR) further relied on the decision of Hon'ble Bombay High Court in the case of CIT v. Thana Electricity Supply Ltd. 206 ITR 727 wherein Hon'ble court while summarizing the general principles with regard to precedents, inter-alia, observed as under:- (iii) Where there are conflicting decisions of courts of co-ordinate jurisdiction, the later decision is to be preferred if reached after full consideration of the earlier decisions. Ld. Principal CIT(DR) has also relied on…

Diadora Shoes Pvt Ltd, Calicut vs. ACIT Circle 2(1), Calicut

In the result, the assessee’sappeal is allowed

ITA 213/COCH/2023[2015-16]Status: DisposedITAT Cochin28 Mar 2024AY 2015-16

Bench: Shri Sanjay Arora & Shri Manomohan Dasdiadora Shoes Pvt. Ltd. Asst. Cit, Circle - 2 Vkc Tower, Kolathra P.O Calicut 673001 Vs. Calicut 673655 [Pan:Aabcd9692D] (Appellant) (Respondent)

For Appellant: Shri M.V. Venugopal, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R

Section 143(3)Section 32(1)(ii)

…egin with, in terms of the law of precedence, the decision by only the Hon'ble Apex Court or the Hon'ble jurisdictional High Court is binding on the Tribunal (Suresh Desai & Ass. v. CIT [1998] 230 ITR 912 (Del); CIT v. Thana Electricity Supply Co. Ltd. [1994] 206 ITR 727 (Bom)(FB)). In case of conflict of opinion between the decisions by the non-jurisdictional High Court, it is the view that appeals to the judicial mind and conscience of the Tribunal that would prevail. Rather, that would the case even in the absence of any contrary view inasmuch as the view of the non-jurisdictional High Court, without doubt car…

Addl CIT R G 7(1), Mumbai vs. Novartis India Ltd ( Formerly Known As Hindustan Ciba Giegy Ltd. ), Mumbai

ITA 6772/MUM/2010[2002-03]Status: DisposedITAT Mumbai20 Mar 2024AY 2002-03

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Novartis India Limited V. Asst. Commissioner Of Income –Tax - 7(2)(2) {Earlier Addl. Commissioner Of Income –Tax – 7(1)} 6Th& 7Th Floor 1St Floor, Aayakar Bhavan Inspire Bkc M.K. Road, Mumbai - 400020 “G” Block, Bkc Main Road Bandra Kurla Complex, Bandra (E) Mumbai – 400051 Pan: Aaach2914F (Appellant) (Respondent) Addl. Commissioner Of Income –Tax – 7(1) V. M/S. Novartis India Limited Room No. 622, Aayakar Bhavan {Earlier Known As Hindustan Ciba Giegy Ltd.,} Sandoz House, Dr. A.B. Road M.K. Road, Mumbai - 400020 Worli, Mumbai – 400018 Pan: Aaach2914F (Appellant) (Respondent) Co No.190/Mum/2011 [Arising Out Of Ita No.6772/Mum/2010 (A.Y. 2002-03)] M/S. Novartis India Limited V. Addl. Commissioner Of Income –Tax – 7(1)} Room No. 622, Aayakar Bhavan {Earlier Known As Hindustan Ciba Giegy Ltd.,} Sandoz House, Dr. A.B. Road M.K. Road, Mumbai - 400020 Worli, Mumbai – 400018 Pan: Aaach2914F (Appellant) (Respondent)

Section 120(4)(b)Section 127Section 143(2)Section 143(3)Section 2

…a 15 was that various High Courts have taken a contrary view on this issue. According to the Hon'ble Tribunal, when there is contrary decision of the jurisdictional High Court (the Hon'ble Bombay High Court decision in the case of Thane Electricity Supply Ltd 206 ITR 727), the decision of Delhi High Court in not binding. Taking reliance of the Hon'ble Bombay High Court decision in Thane Electricity Supply Ltd (supra), it was held that the decision of non- jurisdictional High Court is neither binding decision for another High Court nor for Courts or Tribunals outside its territorial jurisdiction. Instead the Hon'b…

M/S Mafatlal Industries Limited, Mumbai vs. Dy Commissioner of Income Tax-Central Circle-8(2), Mumbai

In the result, appeal is partly allowed

ITA 881/MUM/2023[2011-12]Status: DisposedITAT Mumbai22 Aug 2023AY 2011-12

Bench: Shri Amit Shukla () & Ms. Padmavathy S. ()

Section 143(1)Section 14ASection 36(1)(iii)Section 40

…y jurisdiction of Hon'ble High Court. The decisions rendered by Hon'ble High Court are binding on all subordinate courts working within its jurisdiction. In this regard we may refer to the following decisions:— '(i) CIT v. Thana Electricity Supply Ltd. (1994) 206 ITR 727 (Bom.), wherein on the issue of "whose decision is binding on whom", the. Hon'ble Bombay Court considered in detail the hierarchy of the courts and has observed as under: "It is also well-settled that though there is no specific provision making the law declared by the High Court binding on subordinate courts, it is implicit in the power of super…

Divyaben Prafulchandra Parmar, Surat vs. Income Tax Officer, Ward 1(3)(1), Surat

In the result, appeal filed by the assessee is allowed

ITA 73/SRT/2023[2014-15]Status: DisposedITAT Surat27 Jul 2023AY 2014-15

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.73/Srt/2023 (Assessment Year: 2014-15) (Physical Hearing) Divyaben Prafulchand Parmar, Vs. The Ito, Ward-1(3)(1), 1-2, Harikrishna Niwas, B/H Braham Surat. Kumari Ashram, Bhatar Road, Surat – 395017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acbpp9559Q (Appellant) (Respondent)

Section 115BSection 143(3)Section 68Section 69

…or the Revenue heavily relied on the Judgment of Hon`ble Calcutta High Court in the case of Swati Bajaj and others (supra), however, we are of the view that as per the judgment of Hon’ble High Court of Bombay in the case of Thana Electricity Supply Ltd (1994) 206 ITR 727 (Bom) wherein it was held that decision of a High Court will have the force of binding precedent only in the State or territories in which the Court has jurisdiction. ITA No.73/SRT/2023/AY.2014-15 Divyaben Prafulchandra Parmar Hence we note that Judgment of Hon`ble Calcutta High Court in the case of Swati Bajaj and others(supra) should not be ap…

Dhyan Swamibapa Trust, Senjaldham, Tehsil : Savarkundla, Dist: Amreli vs. The ITO Exemption, Ward-1, Rajkot

In the result, the appeal of the assessee is allowed

ITA 244/RJT/2022[2015-16]Status: HeardITAT Rajkot14 Jun 2023AY 2015-16

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No.244/Rjt/2022 िनधा"रण वष"/Asstt. Year: 2015-16 Dhyan Swamibapa Trust, Ito Senjaldham, Vs. Ward-1(Exemption), Tehsil Saavarkundala Rajkot. Dist. Amreli-364515 C/O. Sanghavi & Company, Prasham, 4Th Floor, Kasturba Road, Nr. Bilkha Plaza, Rajkot-360001. Pan: Aaatd1598E

For Appellant: Shri G.R Sanghavi, A.RFor Respondent: Shri B.D. Gupta, Sr. D.R

Section 11(2)Section 11(3)Section 12ASection 143(1)

…Departmental Representative, however, contends that decision of a non- jurisdictional High Court is not a binding precedent for us. Our attention is invited to the judgment of Hon'ble Bombay High Court in the case of CIT v. Thana Electricity Supply Co. Ltd. (206 ITR 727) wherein Their Lordships have held so. Learned Departmental Representative submits that Godavari Devi Saraf judgment is no longer good law as it stands overruled by the later decision in the case of Thana Electricity Co. Ltd.'s case (supra). It is contended that while a non-jurisdictional High Court is not binding on us, a Special Bench decision…

Welspun Corp Ltd, Mumbai vs. DCIT Cen Cir 22, Mumbai

In the result, the appeals filed by the revenue are dismissed and the appeals filed by the assessee are partly allowed for statistical purposes

ITA 3890/MUM/2016[2008-09]Status: DisposedITAT Mumbai03 Apr 2023AY 2008-09

Bench: Shri Prashant Maharishi & Shri Pavan Kumar Gadale

Section 143(3)Section 14ASection 32(1)(iia)

…IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA No. 5063/Mum/2016 (2009-10) ITA No. 5166/Mum/2016 (2011-12) M/s. Welspun Corp Ltd, Vs. DCIT, Central Circle - 7th Floor, Welspun 22, (Now CC – 3(3)) House, Kamala Mill Room No. 465, 4th Compund, SB Marg, Floor,AayakarBhavan, Lower Parel, Mumbai-400020. Mumbai -400013. "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACW0744L Appellant .. Respondent ITA No. 5483/Mum/2016 (2009-10) ITA No. 5044/Mum/2016 (2011-12) DCIT, Central Circle - Vs. M/s.Welspun Corp Ltd 22, (Now…

Asstt. Comm. of Income Tax 6(1)(1), Mumbai vs. M/S Century Textiles & Industries Ltd, Mumbai

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

ITA 2647/MUM/2022[2012-13]Status: DisposedITAT Mumbai27 Mar 2023AY 2012-13

Bench: Shri Baskaran Br & Shri Pavan Kumar Gadaleacit, 6(1)(1) Vs. M/S Century Textiles Room No. 502, 5Th & Industrials Ltd Floor, Aayakar Bhavan, 2Nd Floor, Century Mk Road, Bhavan, Dr. Annie Mumbai-400020. Beasant Road, Worli, Mumbai – 400030. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacc2659Q Appellant .. Respondent Appellant By : Mr.Jogendra Singh.Dr Respondent By : Mr. Chaitanya D. Joshi.Ar Date Of Hearing 31.01.2023 Date Of Pronouncement 24.02.2023 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Revenue Has Filed The Appeal Against The Order Of The National Faceless Appeal Centre (Nfac), Delhi / Cit(A), Passed U/S 250 Of The Act.

For Appellant: Mr.Jogendra Singh.DRFor Respondent: Mr. Chaitanya D. Joshi.AR

Section 10(34)Section 10(35)Section 115JSection 143(1)Section 143(2)Section 14ASection 250Section 80I

…ax authorities functioning within the relevant jurisdiction. For this proposition reliance is placed on the following decisions: Union of India vs. Kamlakshi Finance Corporation Ltd. (55 ELT 433)(SC) Commissioner Of Income Tax Vs Thana Electricity Supply Ltd (206 ITR 727 Bom); Bank Of Baroda Vs H. C. Shrivastava (122 Taxman 330) (Bom); Eagle Flask Industries Ltd Vs Deputy Commissioner Of Income Tax (72 ITD 455) (Pune), and Smt Padma Charry Vs Income Tax Officer (59 ITD 350) Bom,) In view of the above, we most humbly submit that the computation of deduction u/s.80-1A in respect of the power plant which is made in…

India Itme Sociey, Mumbai vs. CIT (Exemption), Mumbai

In the result, Appeal of assessee is allowed for both the years

ITA 722/MUM/2021[2016-17]Status: DisposedITAT Mumbai27 Feb 2023AY 2016-17

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: Mr. Vipul Joshi, ARFor Respondent: Mr. Sandeep Raj, CIT DR

Section 11Section 11(2)Section 12ASection 143Section 143(3)Section 263Section 80G

…Calcutta High Court in (1993) MANU/WB/0145/1991: 199 ITR 215 (Cal) (supra) in a later decision. Under these circumstances, and in the light of the decision of the Hon'ble Bombay High Court in the case of CIT v. Thane Elec. Supply Co. (1994) MANU/MH/0282/1993: 206 ITR 727 (Bom) at 738 we hold that the assessee is not entitled to the benefit of accumulation of deemed income which is taxable under Section 11(3) of the Act. 12. The assessee relied upon certain decisions in support of its contention that a legal fiction has to be carried to its logical conclusion. We fully agree with this proposition that a legal fic…