CIT v. Vodafone Essar Gujarat Ltd.

397 ITR 55High Court2017#2105 most cited

What is CIT v. Vodafone Essar Gujarat Ltd. authority for?

Provision for bad and doubtful debts, if it amounts to an actual write-off by reducing the sundry debtors balance from the asset side of the Balance Sheet, cannot be added back when computing book profits under Section 115JB read with Explanation (i) of the Income Tax Act.

55

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2018 to 2025.

Also referred to as

CIT v. Vodafone Essar Gujarat Ltd. · Section 115JB · Explanation (i) to 115JB · provision for bad and doubtful debts · actual write-off · book profits · Minimum Alternate Tax · MAT · sundry debtors reduction · Section 271(1)(c) penalty · Vijaya Bank v. CIT

Also reported as

85 Taxmann.com 32

Sections most often in play

Section 115JBSection 143(3)Section 14ASection 36(1)(vii)Section 194HSection 35(2AB)Section 35(3)Section 40(a)(ia)

Issues it is cited on

section 9(i)(vii)section 9(i)section 271(1b)section 10(2a)weighted deductionsection 35(2ab)r&d expendituresection 2(43)principal director general of income-taxsection 54esection 74section 115jb(2)

Judgments citing CIT v. Vodafone Essar Gujarat Ltd.

The Dy.Commissioner of Income Tax, Circle-1(1)(2), Ahmedabad vs. M/S. Cadila Pharmaceuticals Ltd., Ahmedabad

In the result, appeals of the Revenue are dismissed and that of the assessee are allowed for statistical purposes

ITA 73/AHD/2020[2008-09]Status: DisposedITAT Ahmedabad17 Apr 2024AY 2008-09

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Bandish Soparkar, and Shri Parin Shah, Ars
Section 250(6)Section 40Section 9(1)(vii)

…आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण अहमदाबाद "यायपीठ अहमदाबाद "यायपीठ ‘D’ अहमदाबाद। अहमदाबाद "यायपीठ अहमदाबाद। अहमदाबाद। अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SMT.ANNAPURNA GUPTA, ACCOUNTANT MEMBER AND SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER ITA No.51 and 52/Ahd/2020 Assessment Year : 2008-09 and 2009-10 Cadila Pharmaceuticals Ltd. Vs. ACIT, Cir.1(1)(2) 708, Corporate Campus Ahmedabad. Sarkhej Dholka Road, Bhat Ahmedabad 382 210. PAN : AAACC 6251 E ITA No.73 and 76/Ahd/2020 Assessment Year : 2008-09 and 2009-10 ACIT,…

Cadila Pharmaceuticals Ltd., Ahmedabad vs. The Asst. Commissioner of Income Tax, Circle-1(1)(2), Ahmedabad

In the result, appeals of the Revenue are dismissed and that of the assessee are allowed for statistical purposes

ITA 52/AHD/2020[2009-10]Status: DisposedITAT Ahmedabad17 Apr 2024AY 2009-10

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Bandish Soparkar, and Shri Parin Shah, Ars
Section 250(6)Section 40Section 9(1)(vii)

…आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण अहमदाबाद "यायपीठ अहमदाबाद "यायपीठ ‘D’ अहमदाबाद। अहमदाबाद "यायपीठ अहमदाबाद। अहमदाबाद। अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SMT.ANNAPURNA GUPTA, ACCOUNTANT MEMBER AND SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER ITA No.51 and 52/Ahd/2020 Assessment Year : 2008-09 and 2009-10 Cadila Pharmaceuticals Ltd. Vs. ACIT, Cir.1(1)(2) 708, Corporate Campus Ahmedabad. Sarkhej Dholka Road, Bhat Ahmedabad 382 210. PAN : AAACC 6251 E ITA No.73 and 76/Ahd/2020 Assessment Year : 2008-09 and 2009-10 ACIT,…

Cadila Pharmaceuticals Ltd., Ahmedabad vs. The Asst. Commissioner of Income Tax, Circle-1(1)(2), Ahmedabad

In the result, appeals of the Revenue are dismissed and that of the assessee are allowed for statistical purposes

ITA 51/AHD/2020[2008-09]Status: DisposedITAT Ahmedabad17 Apr 2024AY 2008-09

Bench: Smt.Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Bandish Soparkar, and Shri Parin Shah, Ars
Section 250(6)Section 40Section 9(1)(vii)

…आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण अहमदाबाद "यायपीठ अहमदाबाद "यायपीठ ‘D’ अहमदाबाद। अहमदाबाद "यायपीठ अहमदाबाद। अहमदाबाद। अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SMT.ANNAPURNA GUPTA, ACCOUNTANT MEMBER AND SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER ITA No.51 and 52/Ahd/2020 Assessment Year : 2008-09 and 2009-10 Cadila Pharmaceuticals Ltd. Vs. ACIT, Cir.1(1)(2) 708, Corporate Campus Ahmedabad. Sarkhej Dholka Road, Bhat Ahmedabad 382 210. PAN : AAACC 6251 E ITA No.73 and 76/Ahd/2020 Assessment Year : 2008-09 and 2009-10 ACIT,…

Lupin Ltd., Mumbai vs. The Dy CIT, Circle-3(4), Mumbai

In the result, all the appeals of the assessee and revenue are treated as partly allowed

ITA 1921/MUM/2020[2010-11]Status: DisposedITAT Mumbai25 Jan 2024AY 2010-11

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

…s it has been interpreted by Hon’ble High Courts that such kind of treatment would amount to write off and such kind of actual write off would not be hit by clause (i) of the explanation to sec. 115JB of the Act. (a) CIT vs. Vodafone Essar Gujarat Ltd (2017)(397 ITR 55)(Guj) (b) ACC Ltd (2019)(112 taxmann.com 402)(Bom) (c) Sun Pharmaceuticals Ltd (2017)(87 taxmann.com 215)(Guj) (d) Yokogawa Ltd (2012)(204 Taxman 305)(Kar) 10.3 The Ld DR, on the contrary, submitted that the there is vast difference between “actual write off of debts” and “Provision created for bad and doubtful debts”. The ld D.R submitted that Ho…

ACIT, Circle-7(1), New Delhi vs. Delhi State Industrial and Infrastructure Development Corporation Ltd., New Delhi

In the result, the captioned appeal of the Revenue is dismissed

ITA 7265/DEL/2019[2011-12]Status: DisposedITAT Delhi26 Sept 2023AY 2011-12

Bench: Sh. Pradip Kumar Kedia & Sh. Yogesh Kumar Usacit Vs. Delhi State Industrial & Circle – 7(1) Infrastructure Development New Delhi Corporation Ltd., N-36, Bombay Life Building, Connaught Circus, Pan No. Aaacd 1257 F New Delhi-110 001 (Appellant) (Respondent) Assessee By Shri Yogesh Jain & Shri Shobhit Kansal, C.A. Revenue By Shri Sanjay Kumar, Sr. D.R. Date Of Hearing: 27.06.2023 Date Of Pronouncement: 26.09.2023 Per Pradip Kumar Kedia, Am : The Captioned Appeal Has Been Filed By The Revenue Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) – 2, New Delhi (‘Cit(A)’ In Short) Dated 28.06.2019 Arising From The Assessment Order Dated 28.11.2018 Passed By The Assessing Officer (Ao) Under Section 147/143(3)/263 Of The Income Tax Act, 1961 (The Act) Concerning Assessment Year 2011-12. 2. The Ground Of Appeal Raised By Assessee Reads As Under:

Section 115JSection 147Section 148

…2) explanation 1(i) but in view of actual write off, they are no longer hit by these provisions as per decision of Gujarat High Court in the case of CIT Vs Vodafone ACIT vs. Delhi State Industrial and Infrastructure Development Corporation ltd. 3 Essar [2017] 85 Taxmann.com 32 (Guj.) which has considered all the available decisions of Supreme Court and other courts on this issue and has clarified the issue. It has been held that actual write off of bad debt both in P&L a/c and obliteration from loans / advances on the asset side are allowable for computation of book profit and are not hit by the provision of 115J…

Vodafone Essar Ltd., Mumbai vs. Addl. CIT, Chandigarh

ITA 216/CHANDI/2011[2006-07]Status: DisposedITAT Mumbai16 Mar 2023AY 2006-07

Bench: Shri Vikas Awasthy & Shri M. Balaganeshआअसं. 216/ चंडी/2011 (िन.व. 2006-07) आअसं. 1173/चांडी /2011 (िन.व. 2007-08) Vodafone India Ltd. (Formerly Known As ‘ Vodafone Essar Limited’) Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013. ...... अपीलाथ"/Appellant Pan:Aaach-5332-B बनाम Vs. Additional Commissioner Of Income Tax, Range -1, ..... ""तवाद"/Respondent Chandigarh. अपीलाथ" "वारा/ Appellant By : Shri Salil Kapoor With S/Shri Vibhu Jain & Ninad Patade ""तवाद" "वारा/Respondent By : Shri Anand Mohan

For Appellant: Shri Salil Kapoor with S/Shri Vibhu Jain and Ninad PatadeFor Respondent: Shri Anand Mohan
Section 115JSection 144C(13)Section 14ASection 234BSection 271(1)(c)Section 40Section 80I

…-1 of Explanation to sub- 22 ITA NO.1173/CHANDI/2011(A.Y.2007-08 section (2) of section 115JB of the Act would not get attracted. In support of this contention the assessee placed reliance on the decision in the case of CIT vs. Vodafone Essar Gujarat Ltd., 397 ITR 55 (Guj). 31. On the other hand, ld. Departmental Representative placed reliance on the assessment order and prayed for dismissing the appeal of assessee. 32. We have heard the rival submissions and have examined the orders of authorities below. It is not in dispute that the provision made for doubtful debts amounting to Rs.218.31 million has been…

M/S Vodafone Essar Ltd., Mumbai vs. Addl. CIT, Chandigarh

ITA 1173/CHANDI/2011[2007-08]Status: DisposedITAT Mumbai16 Mar 2023AY 2007-08

Bench: Shri Vikas Awasthy & Shri M. Balaganeshआअसं. 216/ चंडी/2011 (िन.व. 2006-07) आअसं. 1173/चांडी /2011 (िन.व. 2007-08) Vodafone India Ltd. (Formerly Known As ‘ Vodafone Essar Limited’) Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013. ...... अपीलाथ"/Appellant Pan:Aaach-5332-B बनाम Vs. Additional Commissioner Of Income Tax, Range -1, ..... ""तवाद"/Respondent Chandigarh. अपीलाथ" "वारा/ Appellant By : Shri Salil Kapoor With S/Shri Vibhu Jain & Ninad Patade ""तवाद" "वारा/Respondent By : Shri Anand Mohan

For Appellant: Shri Salil Kapoor with S/Shri Vibhu Jain and Ninad PatadeFor Respondent: Shri Anand Mohan
Section 115JSection 144C(13)Section 14ASection 234BSection 271(1)(c)Section 40Section 80I

…-1 of Explanation to sub- 22 ITA NO.1173/CHANDI/2011(A.Y.2007-08 section (2) of section 115JB of the Act would not get attracted. In support of this contention the assessee placed reliance on the decision in the case of CIT vs. Vodafone Essar Gujarat Ltd., 397 ITR 55 (Guj). 31. On the other hand, ld. Departmental Representative placed reliance on the assessment order and prayed for dismissing the appeal of assessee. 32. We have heard the rival submissions and have examined the orders of authorities below. It is not in dispute that the provision made for doubtful debts amounting to Rs.218.31 million has been…

Ashok Leyland Limited, Chennai vs. CIT, Ltu-A, Chennai

In the result, appeal filed by the assessee is dismissed

ITA 2144/CHNY/2008[1998-99]Status: DisposedITAT Chennai08 Mar 2023AY 1998-99

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.2144/Chny/2008 िनधा"रण वष" /Assessment Year: 1998-99 M/S.Ashok Leyland Ltd., V. The Asst. Commissioner – No.1, Sardar Patel Road, Of Income Tax Guindy, Company Circle-I (1), Chennai-600 032. Chennai. [Pan: Aaaca 4651 L] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: Mr.D.Hema Bhupal, JCIT
Section 115JSection 143(3)Section 263

…ax Case Appeal No.1316 of 2009 dated :: 6 :: 30.11.2022. The Ld.Counsel for the assessee referring to certain judicial precedents, including the decision of the Hon’ble Gujarat High Court in the case of CIT v. Vodafone Essar Gujarat Ltd., reported in [2017] 397 ITR 55 (Guj.FB) submitted that adjustment of provision for bad and doubtful debts if reduced from the loans and/or the debtors from the assets side of the balance sheet, the explanation to sec.115JA(2) of the Act, is not applicable. He further submitted that the assessee has reduced provision for bad and doubtful debts from the sundry debtors account…

Lupin Ltd., Mumbai vs. The Dy CIT, Circle-3(4), Mumbai

In the result, the appeal filed by the assessee and the revenue are treated as partly allowed

ITA 1920/MUM/2020[2009-10]Status: DisposedITAT Mumbai03 Feb 2023AY 2009-10

Bench: Shri B.R. Baskaran (Am) & Smt. Kavitha Rajagopal (Jm)

Section 115JSection 131Section 132(3)Section 132(4)Section 139(1)Section 143(1)Section 143(2)Section 153A

…as it has been interpreted by Hon’ble High Courts that such kind of treatment would amount to write off and such kind of actual write off would not be hit by clause (i) of the explanation to sec. 115JB of the Act. (a) CIT vs. Vodafone Essar Gujarat Ltd (2017)(397 ITR 55)(Guj) (b) ACC Ltd (2019)(112 taxmann.com 402)(Bom) (c) Sun Pharmaceuticals Ltd (2017)(87 taxmann.com 215)(Guj) (d) Yokogawa Ltd (2012)(204 Taxman 305)(Kar) 10.3 The Ld DR, on the contrary, submitted that the there is vast difference between “actual write off of debts” and “Provision created for bad and doubtful debts”. The ld D.R submitted that H…

Raymond Limited, Mumbai vs. Addl C.I.T. -2(3), Mumbai

In the result, appeal filed by the Revenue is partly allowed

ITA 2660/MUM/2008[2002-2003]Status: DisposedITAT Mumbai14 Nov 2022AY 2002-2003

Bench: Shri Vikas Awasthy, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Raymond Limited V. Addl. Cit– Range 2(3) New Hind House 5Th Floor, Aayakar Bhavan Narottam Morarjee Marg M.K. Road, Mumbai - 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A (Appellant) (Respondent) Acit–2(3) V. M/S. Raymond Limited Room No. 555 New Hind House Aayakar Bhavan, Mumbai Narottam Morarjee Marg Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A (Appellant) (Respondent)

For Appellant: Shri Nitesh Joshi &For Respondent: Shri Samuel Pitta
Section 115JSection 14ASection 35DSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE SHRI VIKAS AWASTHY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER M/s. Raymond Limited v. Addl. CIT– Range 2(3) New Hind House 5th Floor, Aayakar Bhavan Narottam Morarjee Marg M.K. Road, Mumbai - 400020 Ballard Estate, Mumbai - 400001 PAN: AAACR4896A (Appellant) (Respondent) ACIT–2(3) v. M/s. Raymond Limited Room No. 555 New Hind House Aayakar Bhavan, Mumbai Narottam Morarjee Marg Ballard Estate, Mumbai - 400001 PAN: AAACR4896A (Appellant) (Respondent) Assessee by : Shri Nitesh Joshi & Shri Harsh Shah Department by : Sh…

M/S. ACIT 2(3), Mumbai vs. Raymond Ltd., Mumbai

In the result, appeal filed by the Revenue is partly allowed

ITA 2519/MUM/2008[2002-2003]Status: DisposedITAT Mumbai14 Nov 2022AY 2002-2003

Bench: Shri Vikas Awasthy, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Raymond Limited V. Addl. Cit– Range 2(3) New Hind House 5Th Floor, Aayakar Bhavan Narottam Morarjee Marg M.K. Road, Mumbai - 400020 Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A (Appellant) (Respondent) Acit–2(3) V. M/S. Raymond Limited Room No. 555 New Hind House Aayakar Bhavan, Mumbai Narottam Morarjee Marg Ballard Estate, Mumbai - 400001 Pan: Aaacr4896A (Appellant) (Respondent)

For Appellant: Shri Nitesh Joshi &For Respondent: Shri Samuel Pitta
Section 115JSection 14ASection 35DSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE SHRI VIKAS AWASTHY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER M/s. Raymond Limited v. Addl. CIT– Range 2(3) New Hind House 5th Floor, Aayakar Bhavan Narottam Morarjee Marg M.K. Road, Mumbai - 400020 Ballard Estate, Mumbai - 400001 PAN: AAACR4896A (Appellant) (Respondent) ACIT–2(3) v. M/s. Raymond Limited Room No. 555 New Hind House Aayakar Bhavan, Mumbai Narottam Morarjee Marg Ballard Estate, Mumbai - 400001 PAN: AAACR4896A (Appellant) (Respondent) Assessee by : Shri Nitesh Joshi & Shri Harsh Shah Department by : Sh…

Natural Remedies Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle-3(1)(1), Bangalore

In the result, the assessee’s appeal is allowed

ITA 755/BANG/2022[2011-12]Status: DisposedITAT Bangalore20 Oct 2022AY 2011-12

Bench: Shri George George K. & Ms. Padmavathy Sassessment Year : 2011-12

For Appellant: Shri Sandeep Chalapathy, CAFor Respondent: Shri Gudimella V P Pavan Kumar
Section 115JSection 143(2)

…15JA/115JB is not attracted. The assessee further relied on the decision of the Karnataka High Court in the case of CIT v. Yokogawa India Ltd. [2012] 214 Taxman 305 (Kar) and the decision of Gujarat High Court in the case of CIT v. Vodafone Essar Gujarat Ltd. 397 ITR 55 (Guj). 4. The CITAA after considering the submissions of the assessee has held as under:- “4.2 I have carefully gone through the submission of the Appellant. I have also gone through the records and facts of the case Page 3 of 8 and case laws cited by the appellant. The addition on account of provision of Rs.44,57,060 on account of it being unas…

M/S Southern Tpetrochemical Industries Corpration Limited, Chennai vs. ITO, Corporate Ward-3(1), Chennai

In the result, appeal filed by the assessee is allowed

ITA 232/CHNY/2022[2017-18]Status: DisposedITAT Chennai23 Sept 2022AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकरअपीलसं./Ita No.232/Chny/2022 िनधा"रणवष"/Assessment Year: 2017-18 M/S.Southern Petrochemical V. The Income Tax Officer, Industries Corporation Ltd., Corporate Ward-3(1), 88, Spic House, Mount Road, Chennai. Guindy, Chennai-600 032. [Pan:Aaacs 4668 K] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.R.Vijayaraghavan, Adv. &
Section 115JSection 143Section 263

…आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH: CHENNAI "ीवी. दुगा" राव,माननीय"ाियकसद"एवं "ीजी. मंजूनाथा, माननीयलेखासद"केसम" BEFORE SHRI V. DURGA RAO, HON’BLEJUDICIAL MEMBER AND SHRI G. MANJUNATHA, HON’BLE ACCOUNTANT MEMBER आयकरअपीलसं./ITA No.232/Chny/2022 िनधा"रणवष"/Assessment Year: 2017-18 M/s.Southern Petrochemical v. The Income Tax Officer, Industries Corporation Ltd., Corporate Ward-3(1), 88, SPIC House, Mount Road, Chennai. Guindy, Chennai-600 032. [PAN:AAACS 4668 K] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant by : Mr.R.Vijayaraghavan, Adv. &…

Bank of Baroda ( W.R.T.E- Dena Bank), Mumbai-400051 vs. Principal Commissioner of Income Tax -2, Mumbai-400020

In the result, the appeal of the assessee is allowed

ITA 1253/MUM/2022[2017-18]Status: DisposedITAT Mumbai15 Sept 2022AY 2017-18

Bench: Shri Amit Shukla & Shri Amarjit Singhbank Of Baroda Vs. The Pr. Commissioner Of (W.R.T E-Dena Bank) Income Tax-2, Baroda Corporate Centre, Room No. 344, 3 Rd Floor, 2Nd Floor, Corp A/C & Aayakar Bhavan, Tax Dept. C-26, G-Block, Maharishi Karve Road, Bandra Kurla Complex, Mumbai - 400020 Bandra East, Mumbai – 400051 स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No: Aaacb1534F Appellant .. Respondent

For Appellant: S. Ananthan &For Respondent: Dr. Mahesh Akhade
Section 115JSection 142(1)Section 143(2)Section 143(3)Section 263

…n off of Rs.833.39 crores and the same cannot be again debited to the profit and loss account . The ld. Counsel has also placed reliance on the judicial pronouncement in the cases i.e HDFC Bank Ltd. (2014) 366 ITR 505 (Bom); Vodafone Essar Gujarat Ltd. (2017) 397 ITR 55 (Guj); Sunbeam Auto Ltd. (2010) 159 taxmann.com 436 (Delhi); ARM Infra & Utilities Pvt. Ltd. (2022) (1) TMI 116- ITAT, Mumbai. On the other hand the ld. D.R. supported the order of lower authorities. 4. Heard both the sides and perused the material on record. Without reiterating the facts as elaborated above in this order the ld. Pr.CIT held that…

Corrtech Energy Ltd., Ahmedabad vs. The Dy. CIT, Circle-1(1)(2), Ahmedabad

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

ITA 1261/AHD/2019[2013-14]Status: DisposedITAT Ahmedabad03 Aug 2022AY 2013-14

Bench: Shri P.M. Jagtap, Vice- & Ms. Madhumita Royassessment Year : 2013-14 Corrtech Energy Ltd., Dy. Commissioner Of 22, Dhara Centre, Near Vijay Cross Vs Income-Tax, Roads, Navrangpura, Circle 1(1)(2), Ahmedabad-380009 Ahmedabad Pan : Aaaci 8838 F अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Tushar Hemani, Sr Advocate & Shri Parimalsinh B. Parmar, Ar Revenue By : Shri Mukesh Thakwani, Sr. Dr

For Appellant: Shri Tushar Hemani, Sr Advocate &For Respondent: Shri Mukesh Thakwani, Sr. DR
Section 115JSection 143(3)Section 148

…f investment. During the course of appellate proceedings before the learned CIT(A), a detailed submission was made on behalf of the assessee relying mainly on the decision of Hon’ble Gujarat High Court in the case of CIT vs. Vodafone Essar Gujarat Ltd, [2017] 397 ITR 55 (Guj.), Corrtech Energy Ltd Vs. DCIT AY : 2013-14 4 to contend that it was not the case of mere provision made by the assessee for doubtful debts and diminution in the value of investment but such provision was actually reduced from the corresponding amounts of debts and investments as appearing on the asset side of the balance-sheet. The learned…

The ACIT RG 1(1), Mumbai vs. M/S. Associated Cement Co., Mumbai

Appeal of the Revenue is partly allowed while the appeal of the Assessee is dismissed

ITA 5259/MUM/2007[2004-2005]Status: DisposedITAT Mumbai27 May 2022AY 2004-2005
For Appellant: Shri Yogesh Thar, Shri ChaitanyaFor Respondent: Shri K.K. Mishra
Section 115JSection 143(1)Section 143(2)Section 143(3)

…ount or amounts set aside as provision for diminution in the value of any asset." 14.1.4. We note that Hon‟ble Gujarat High Court while examining the above provision in the case of CIT v. Vodafone Essar Gujarat Ltd. : (Tax Appeal No. 749 of 2012, reported in 397 ITR 55) has held as under: “24. By way of culmination of above judicial pronouncements and statutory provisions, the situation that arises is that prior to the introduction of clause (i) to the explanation to section 115JB, as held by the Supreme Court in case of HCL Comnet Systems & Services Ltd. (supra), the then existing clause (c) did not cover a ca…

M/S. Acc Ltd ( Formely Known As the Associated Cememtn Companies Ltd), Mumbai vs. The Addl CIT RG 1(1), Mumbai

Appeal of the Revenue is partly allowed while the appeal of the Assessee is dismissed

ITA 4895/MUM/2007[2004-2005]Status: DisposedITAT Mumbai27 May 2022AY 2004-2005
For Appellant: Shri Yogesh Thar, Shri ChaitanyaFor Respondent: Shri K.K. Mishra
Section 115JSection 143(1)Section 143(2)Section 143(3)

…ount or amounts set aside as provision for diminution in the value of any asset." 14.1.4. We note that Hon‟ble Gujarat High Court while examining the above provision in the case of CIT v. Vodafone Essar Gujarat Ltd. : (Tax Appeal No. 749 of 2012, reported in 397 ITR 55) has held as under: “24. By way of culmination of above judicial pronouncements and statutory provisions, the situation that arises is that prior to the introduction of clause (i) to the explanation to section 115JB, as held by the Supreme Court in case of HCL Comnet Systems & Services Ltd. (supra), the then existing clause (c) did not cover a ca…

M/S. Corporation Bank, Mangaluru vs. Deputy Commissioner of Income Tax, Circle- 2(1), Mangaluru

In the result, the appeal filed by the assessee is allowed for statistical purposes and the appeal filed by the Revenue is dismissed

ITA 1108/BANG/2019[2013-14]Status: DisposedITAT Bangalore17 Nov 2021AY 2013-14

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.S.Ananthan, CAFor Respondent: Sri.Pradeep Kumar, CIT-DR
Section 115JSection 143(3)Section 14A

…mann.com 15 (Kar.) (iii) CIT v. Kirloskar Systems Ltd. (2013) 40 taxmann.com 124 (Kar.) (iv) CIT v. Syndicate Bank 2014 (10) TMI 857 – Kar. (v) CIT v. Telco Construction Equipment Co. Ltd. 2016 (6) TMI 651 – Kar. (vi) CIT v. Vodafone Essar Gujarat Ltd. (2017) 397 ITR 55 [Guj (FB)] 4.2 The CIT(A), after referring to the judicial pronouncements, cited by the assessee, directed the A.O. to verify and delete the addition made to the book profits u/s 115JB of the I.T.Act to the extent the same is reduced from the gross advances in the balance sheet on the assets side. The relevant finding of the CIT(A), reads as follo…

M/S Corporate Bank, Mangalore vs. Principal Commissioner of Income Tax, Mangalore

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

ITA 1679/BANG/2018[2014-15]Status: DisposedITAT Bangalore17 Nov 2021AY 2014-15

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.S.Ananthan, CAFor Respondent: Sri.Pradeep Kumar, CIT-DR
Section 115JSection 143(3)Section 14ASection 263

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri Chandra Poojari, AM and Shri George George K, JM ITA No.1679/Bang/2018 : Asst.Year 2014-2015 M/s.Union Bank of India The Principal Commissioner of (Erstwhile Corporation Bank) Income-tax, v. Mangalore. Central Accounts Department 6th Floor, Union Bank Bhavan 239 Vidhan Bhavan Marg Nariman Point Mumbai – 400 021. PAN : AAACU0564G. (Appellant) (Respondent) Appellant by : Sri.S.Ananthan, CA Respondent by : Sri.Pradeep Kumar, CIT-DR Date of Pronouncement : 17.11.2021 Date of Hearing : 16.11.2021 O R D E R Per George George K, JM This…

Bank of India, Mumbai vs. Asst. CIT-2(1)(1), Mumbai

In the result, the appeal of the Assessing Officer is partly allowed in the terms indicated above

ITA 1767/MUM/2019[2015-16]Status: DisposedITAT Mumbai11 Dec 2020AY 2015-16
Section 115Section 11JSection 143(3)Section 90Section 90(3)

…ITA Nos: 1767 and 2048/Mum/2019 Assessment year: 2015-16 Page 1 of 37 INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘B’ BENCH, MUMBAI [Coram: Pramod Kumar, Vice President and, Amarjit Singh, Judicial Member] ITA No.: 1767/Mum/2019 Assessment year: 2015-16 Bank of India …………………….. Appellant Taxation Department, 8th floor, Star House, C 5 G Block, BKC, Bandra East, Mumbai 400 051 [PAN: AAACB0472C] Vs. Assistant Commissioner of Income Tax Circle 2(1)(1), Mumbai ………………….Respondent ITA No.: 2048/Mum/2019 Assessment year: 2015-16 Assistant Commissioner of Income Tax Circle 2(1)(1), Mumbai …………………….. Appellant Vs. Bank of India…