CIT v. Vacment India

PENINSULA FACILITY MANAGEMENT SERVICES LTD.,MUMBAI vs. ASSTT. CIT -CPC, MUMBAI

In the result, assessee’s appeal allowed

Bench: Shri Shamim Yahya (Am) & Ms. Suchitra Raghunath Kamble (Jm)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” Bench, Mumbai Before Shri Shamim Yahya (AM) & MS. Suchitra Raghunath Kamble (JM) ITA Nos.803 & 804/Mum/2021 (Assessment Years: 2014-15 & 15-16) Peninsula Facility Management ACIT,CPC Services Ltd. Post Bag NO.2, Peninsula Spenta Electronic City Post Office 2nd Floor, Mathuradas Mills Compound Bangalore-560 100 Vs. Senapati Bapat Marg, Lower Parel Mumbai-400 013 PAN/GIR No. AAACJ5680L (Assessee) (Revenue) : Assessee by : Shri Hardik Nirmal Revenue by : Shri Ashish Kumar Date of Hearing : 14.12.2021 Date of Pronouncement : 14.12.2021 O R D E R Per Shamim Yahya(A.M.).:…

GODREJ TYSON FOODS LIMITED,MUMBAI vs. ACIT RANGE 14(1)(2), MUMBAI

Bench: Shri Pawan Singh, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 6672/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2016-17)

…to calculation. It clearly indicates that the method adopted in ITR-6 by the department are different than the calculation adopted by the CPC. In this regard, he relied upon the following case laws:- 1. Decision of Allahabad High Court CIT v/s Vacment India (369 ITR 304) 2. Decision of Mumbai Tribunal in Wyeth Limited v/s ACIT (ITA No. 6682 / Mum / 2011) dated 09th January, 2015 3. Decision of Mumbai Tribunal in DCIT v/s Godrej Oil Palm Limited (ITA No. 5098/Mum/2013) dated 14th January, 2015 7 I.T.A. No. 6672/Mum/2019 4. Decision of Hyderabad Tribunal in Virtusa India Private Limited v/s. DCIT - 157 ITD1160…

SI GROUP INDIA P. LTD,NAVI MUMBAI vs. DCIT (LTU), MUMBAI

The appeals of the assessee are partly allowed

Bench: Shri Joginder Singh & Shri Ramit Kochar

…rther, the ld. AR referred to the decision of Hon’ble Calcutta High Court in the case of Srei Infrastructure Finance Ltd. vs. DCIT [2016] 395 ITR 291 (Cal) wherein the earlier decision of the Hon’ble Allahabad High Court in case of CIT v. Vacment India [2014] 369 ITR 304 (All) has been distinguished and it has been held that both the surcharge and education cess are part of income tax. 5. The question of law which came up for consideration before the Hon’ble Calcutta High Court (supra) was whether on the facts and in the circumstances of the case and in law, the Tribunal was right in confirming the set-off of MAT…

GROUP INDIA P. LTD,NAVI MUMBAI vs. DCIT (LTU), MUMBAI

The appeals of the assessee are partly allowed

Bench: Shri Joginder Singh & Shri Ramit Kochar

…rther, the ld. AR referred to the decision of Hon’ble Calcutta High Court in the case of Srei Infrastructure Finance Ltd. vs. DCIT [2016] 395 ITR 291 (Cal) wherein the earlier decision of the Hon’ble Allahabad High Court in case of CIT v. Vacment India [2014] 369 ITR 304 (All) has been distinguished and it has been held that both the surcharge and education cess are part of income tax. 5. The question of law which came up for consideration before the Hon’ble Calcutta High Court (supra) was whether on the facts and in the circumstances of the case and in law, the Tribunal was right in confirming the set-off of MAT…

FINANCIAL TECHNOLOGIES (INDIA) P.LTD,MUMBAI vs. DCIT CEN CIR 46, MUMBAI

In the result appeals of the assessee in ITA No

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm

…rned AR prayed that Credit of MAT u/s. 115JAA of Rs. 10,19,75,012/- to be allowed before levying surcharge and education cess and any other relief may deem fit. 8. Learned AR also placed on record the order of the Allahabad High Court in case of Vacment India 369 ITR 304 wherein it was held that credit nu/s.115 JAA was deductable from gross tax payable and computation of surcharge should be on the net amount. Very fairly M/s. 63 Moons Technologies Ltd., (Formerly Financial Technologies India Ltd.,) learned AR also filed decision of Bombay Tribunal in case of Classic Shares & Stocks Broking Services Ltd., dated 23…

SAVITA OIL TECHNOLOGIES LTD.,MUMBAI vs. ACIT, CC 8(4), MUMBAI

Appeal is partly allowed

Bench: Shri Amit Shukla () & Shri Ashwani Taneja ()

…reased by education cess and surcharge, then while making it’s carry forward and set off also the amount of surcharge and education cess should be included. He placed reliance on the judgment of Hon’ble Allahabad High Court in the case of CIT vs Vacment India 369 ITR 304 (All) and Calcutta High Court in the case of M/s Srei Infrastructure Finance Ltd vs DCIT (G.A. No. 115 of 2016 (ITAT No.245 of 2016) Dt 12th August, 2016. Per contra, the Ld. DR fairly submitted that neither the working submitted by the assessee was correct 3 I.T.A. No.3066/Mum/2015 in accordance with law and facts of the case nor that of the AO…

RELIANCE PORTS AND TERMINALS LTD,MUMBAI vs. ASST CIT 3(3), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Reliance Ports & Terminals Ltd. Vs. The Asst. Commissioner Of Income Iv, 3Rd Tax – 3 (3) Aayakar Bhavan, 6Th Maker Chamber Floor Nirman Point, Mumbai-400021 Floor, Mumbai- 400020 Pan: Aabcr3878B Appellant .. Respondent Appellant By .. Shri Vijay Mehta, Ar Respondent By .. Shri K.B. Shukla, Cit, Dr Date Of Hearing .. 26-10-2016 .. Date Of Pronouncement 26- 10- 2016 O R D E R Per Mahavir Singh, Jm: This Appeal By The Assessee Is Arising Out Of The Order Of The Cit (A)-7, Mumbai In Appeal No.Cit (A)-7/It-23/12-13 Orders Dated 27-06-14. The Assessment Was Framed By The Acit - 3 (3) Mumbai For The Ay 2010-11 Vide Order Dated 30-04-2012 U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter „The Act‟).

…ross tax liability of the assessee in accordance with the method of computation provided in ITR-6 for AY 2011-12 as discussed above. 5. Before us, assessee relied on the decision of the Hon‟ble Allahabad High Court in the case of CIT Vs. Vacment India (2014) 369 ITR 304 (All) and stated that this issue is covered in favour of the assessee, wherein Hon‟ble Allahabad High Court cosidered the issue of levy of Surcharge and Education Cess on the Tax payable, which has to be calculated before allowing credit of tax paid in earlier years or after allowing credit of tax u/s 155 JAA of the Act. The Hon‟ble Allahabad Hig…

GARWARE WALL ROPES LTD,MUMBAI vs. ADDL CIT 5(1), MUMBAI

In the result, the appeal filed by the assessee is hereby allowed and appeal filed by the revenue is dismissed

Bench: Shri B.R.Baskaran, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.4072/Mum/2014 ("नधा"रण वष" / Assessment Year: 2010-11) Garware Wall Ropes Limited बनाम/ Addl. Cit 5(1) Chowpatty Chambers, Aayakar Bhavan Vs. Sandhurst Bridge, Mumbai - 400020 Mumbai - 400007

…or the assessee has argued that the surcharge and the educational cess are also the part of income tax which are also liable for giving credit u/s.115JAA of the Act. In view of the law settled in CIT Vs. K. Srinivasan 83 ITR 346 (SC) and CIT Vs. Vacment India 369 ITR 304 (All.) and Wyeth Ltd. Vs. ACIT (LTU) (ITA No.82/Mum/2011) “G” Bench, Mumbai and J.M.Huber India Pvt. Ltd. Vs. CIT (ITA No.7287/Mum/2012) “J” Bench, Mumbai. On the other hand the learned representative of the assessee has argued that only income tax credit is required to be given as tax credit u/s.115JAA of the Act therefore the CIT(A) has rightly…

DCIT 5(1), MUMBAI vs. GARWARE WALL ROPES LTD, MUMBAI

In the result, the appeal filed by the assessee is hereby allowed and appeal filed by the revenue is dismissed

Bench: Shri B.R.Baskaran, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.4072/Mum/2014 ("नधा"रण वष" / Assessment Year: 2010-11) Garware Wall Ropes Limited बनाम/ Addl. Cit 5(1) Chowpatty Chambers, Aayakar Bhavan Vs. Sandhurst Bridge, Mumbai - 400020 Mumbai - 400007

…or the assessee has argued that the surcharge and the educational cess are also the part of income tax which are also liable for giving credit u/s.115JAA of the Act. In view of the law settled in CIT Vs. K. Srinivasan 83 ITR 346 (SC) and CIT Vs. Vacment India 369 ITR 304 (All.) and Wyeth Ltd. Vs. ACIT (LTU) (ITA No.82/Mum/2011) “G” Bench, Mumbai and J.M.Huber India Pvt. Ltd. Vs. CIT (ITA No.7287/Mum/2012) “J” Bench, Mumbai. On the other hand the learned representative of the assessee has argued that only income tax credit is required to be given as tax credit u/s.115JAA of the Act therefore the CIT(A) has rightly…