CIT v. Yokogawa India Ltd.

341 ITR 385High Court2012#296 most cited

What is CIT v. Yokogawa India Ltd. authority for?

A provision for doubtful debts cannot be added back while computing book profits under Section 115JB of the Income-tax Act for Minimum Alternate Tax (MAT) purposes.

270

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2012 to 2026.

Also referred to as

CIT v. Yokogawa India Ltd. · Section 115JB · book profits · MAT computation · provision for doubtful debts · add-back · Section 36(1)(vii) · Minimum Alternate Tax · book profit calculation · doubtful debt provision · Karnataka High Court · 17 Taxmann.com 15

Also reported as

204 Taxmann 30517 Taxmann.com 15246 CTR 226

Sections most often in play

Section 115JBSection 36(1)(vii)Section 10(34)Section 10(35)Section 14ASection 2(24)Section 32(1)(iia)Section 40(a)(ii)

Issues it is cited on

section 115jb(2)section 36(1)(vii)section 36(2)section 40(a)(i)book profitssection 115jamalgamationsection 115jbdisallowance under section 14acommercial expediencydisallowance u/s 14asection 36(1)

Judgments citing CIT v. Yokogawa India Ltd.

Paris Elysees India Pvt. Ltd., Jaipur vs. DCIT, Circle-7, Jaipur

ITA 681/JPR/2023[2012-13]Status: DisposedITAT Jaipur19 Sept 2024AY 2012-13

Bench: Him Against The Order Dated 05.12.2019 Passed Under Section 147/143(3) Of The Income Tax Act, [ For Short “Act” ] By Acit, Circle-07, Jaipur.

For Appellant: Sh. Rohan Sogani, CAFor Respondent: Sh. Anup Singh, Addl. CIT
Section 115JSection 147Section 148Section 151Section 250Section 253(5)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, vk;dj vihy la-@ITA No. 681/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2012-13 cuke Paris Elysees India Pvt. Ltd., DCIT, Circle-07 Vs. A 135 Parfume Factory, Jaipur Heerawala RIICO, Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AABCP 4088 P vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh. Rohan Sogani, CA jktLo dh vksj ls@ Reve…

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 76/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,…

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)

…IN THE INCOME TAX APPELLATE TRIBUNAL Mumbai “A” Bench, Mumbai. Before Shri B.R. Baskaran (AM) & Shri Pavan Kumar Gadale (JM) I.T.A. No. 1921/Mum/2020 (A.Y. 2010-11) I.T.A. No. 1922/Mum/2020 (A.Y. 2011-12) I.T.A. No. 1923/Mum/2020 (A.Y. 2012-13) C.O. No. 128/Mum/2021 (A.Y. 2010-11) C.O. No. 131/Mum/2021 (A.Y. 2011-12) C.O. No. 130/Mum/2021 (A.Y. 2012-13) Vs. DCIT, Circle-3(4) M/s. Lupin Limited 7th Floor, Kalpataru 29th Floor Inspire, Off Western Center 1, World Express Highway Trade Centre Santacruz East Cuffe Parade Mumbai-400 055. Mumbai-400 005. (Appellant) (Respondent) I.T.A. No. 394/Mum/2021 (A.Y. 2010-11…

M/S. Canara Bank (Erstwhile Syndicate Bank), Bangalore vs. The Deputy Commissioner of Income Tax, Circle-2(1)(1), Bangalore

ITA 389/BANG/2023[2015-16]Status: DisposedITAT Bangalore26 Sept 2023AY 2015-16

Bench: Shri George George K. & Shri Laxmi Prasad Sahu

For Appellant: Shri S. Ananthan, CAFor Respondent: Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru
Section 115JSection 147Section 250Section 36(1)(viia)Section 5

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K., VICE PRESIDENT AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA Nos.388 & 389/Bang/2023 Assessment years : 2014-15 & 2015-16 M/s. Canara Bank Vs. The Deputy Commissioner (erstwhile Syndicate Bank), of Income Tax, FM Wing, Head Office, Circle 2(1)(1), 112, J.C. Road, Bangalore. Bangalore – 560 002. PAN: AAACC 6106G APPELLANT RESPONDENT Appellant by : Shri S. Ananthan, CA Respondent by : Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru. Date of hearing : 12.09.2023 Date of Pronouncement : 26.09.2023 O R D E R Per Bench These…

M/S. Canara Bank (Erstwhile Syndicate Bank), Bangalore vs. The Deputy Commissioner of Income Tax, Circle-2(1)(1), Bangalore

ITA 388/BANG/2023[2014-15]Status: DisposedITAT Bangalore26 Sept 2023AY 2014-15

Bench: Shri George George K. & Shri Laxmi Prasad Sahu

For Appellant: Shri S. Ananthan, CAFor Respondent: Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru
Section 115JSection 147Section 250Section 36(1)(viia)Section 5

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K., VICE PRESIDENT AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA Nos.388 & 389/Bang/2023 Assessment years : 2014-15 & 2015-16 M/s. Canara Bank Vs. The Deputy Commissioner (erstwhile Syndicate Bank), of Income Tax, FM Wing, Head Office, Circle 2(1)(1), 112, J.C. Road, Bangalore. Bangalore – 560 002. PAN: AAACC 6106G APPELLANT RESPONDENT Appellant by : Shri S. Ananthan, CA Respondent by : Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru. Date of hearing : 12.09.2023 Date of Pronouncement : 26.09.2023 O R D E R Per Bench These…

Addl/Joint Commissioner of Income Tax (Ltu), Bangalore vs. M/S Vijaya Bank, Bangalore

Accordingly the grounds raised by the revenue is allowed for statistical purposes

ITA 528/BANG/2019[2015-16]Status: DisposedITAT Bangalore25 Apr 2023AY 2015-16

Bench: Shri George George K. & Shri Laxmi Prasad Sahum/S. Bank Of Baroda Vs. Addl. Cit, Ltu, (Erstwhile Vijaya Bank) Bmtc Building 7Th Floor, Central Accounts 6Th Block, Koramangala Bengaluru 560095 Dept., 41/2, M.G. Road Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Acit, Circle - 2(1)(1) Vs. M/S. Bank Of Baroda Room No. 561, 5Th Floor (Erstwhile Vijaya Bank) Aayakar Bhavan 7Th Floor, Central Accounts M.K. Road Dept., 41/2, M.G. Road Mumbai 400020 Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Assessee By: Shri Ananthan, Ca& Smt. Lalitha Rameswaran, Ca Revenue By: Shri G. Manoj Kumar, Cit-Dr Date Of Hearing: 29.03.2023 Date Of Pronouncement: 25.04.2023 M/S. Bank Of Baroda

For Appellant: Shri Ananthan, CA&For Respondent: Shri G. Manoj Kumar, CIT-DR
Section 115JSection 14ASection 194JSection 36Section 36(1)(vii)Section 36(1)(viia)Section 36(1)(viii)

…IN THE INCOME TAX APPELLATE TRIBUNAL BENGALURU “B” BENCH, BENGALURU Before Shri George George K., Judicial Member and Shri Laxmi Prasad Sahu, Accountant Member M/s. Bank of Baroda vs. Addl. CIT, LTU, (erstwhile Vijaya Bank) BMTC Building 7th Floor, Central Accounts 6th Block, Koramangala Bengaluru 560095 Dept., 41/2, M.G. Road Bengaluru 560001 PAN – AAACVO3787 (Appellant) (Respondent) ACIT, Circle - 2(1)(1) vs. M/s. Bank of Baroda Room No. 561, 5th Floor (erstwhile Vijaya Bank) Aayakar Bhavan 7th Floor, Central Accounts M.K. Road Dept., 41/2, M.G. Road Mumbai 400020 Bengaluru 560001 PAN – AAACVO3787 (Appellant) (…

M/S Vijaya Bank, Bangalore vs. Additional Commissioner of Income Tax Ltu, Bangalore

Accordingly the grounds raised by the revenue is allowed for statistical purposes

ITA 321/BANG/2019[2015-16]Status: DisposedITAT Bangalore25 Apr 2023AY 2015-16

Bench: Shri George George K. & Shri Laxmi Prasad Sahum/S. Bank Of Baroda Vs. Addl. Cit, Ltu, (Erstwhile Vijaya Bank) Bmtc Building 7Th Floor, Central Accounts 6Th Block, Koramangala Bengaluru 560095 Dept., 41/2, M.G. Road Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Acit, Circle - 2(1)(1) Vs. M/S. Bank Of Baroda Room No. 561, 5Th Floor (Erstwhile Vijaya Bank) Aayakar Bhavan 7Th Floor, Central Accounts M.K. Road Dept., 41/2, M.G. Road Mumbai 400020 Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Assessee By: Shri Ananthan, Ca& Smt. Lalitha Rameswaran, Ca Revenue By: Shri G. Manoj Kumar, Cit-Dr Date Of Hearing: 29.03.2023 Date Of Pronouncement: 25.04.2023 M/S. Bank Of Baroda

For Appellant: Shri Ananthan, CA&For Respondent: Shri G. Manoj Kumar, CIT-DR
Section 115JSection 14ASection 194JSection 36Section 36(1)(vii)Section 36(1)(viia)Section 36(1)(viii)

…IN THE INCOME TAX APPELLATE TRIBUNAL BENGALURU “B” BENCH, BENGALURU Before Shri George George K., Judicial Member and Shri Laxmi Prasad Sahu, Accountant Member M/s. Bank of Baroda vs. Addl. CIT, LTU, (erstwhile Vijaya Bank) BMTC Building 7th Floor, Central Accounts 6th Block, Koramangala Bengaluru 560095 Dept., 41/2, M.G. Road Bengaluru 560001 PAN – AAACVO3787 (Appellant) (Respondent) ACIT, Circle - 2(1)(1) vs. M/s. Bank of Baroda Room No. 561, 5th Floor (erstwhile Vijaya Bank) Aayakar Bhavan 7th Floor, Central Accounts M.K. Road Dept., 41/2, M.G. Road Mumbai 400020 Bengaluru 560001 PAN – AAACVO3787 (Appellant) (…

Oriental Bank of Commerce, Gurgaon vs. ACIT, Spl. Range-07, New Delhi

In the result, the appeal filed by the Assessee stands allowed

ITA 740/DEL/2020[2016-17]Status: DisposedITAT Delhi31 Mar 2023AY 2016-17

Bench: Shri Anil Chaturvedi & Shri N.K. Choudhryassessment Year: 2016-17

For Appellant: Sh. KVSR Krishna, Ld. CA &For Respondent: Ms. Sarita Kumar, Ld. CIT/DR
Section 115JSection 14ASection 250Section 36

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’ NEW DLEHI BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SHRI N.K. CHOUDHRY, JUDICIAL MEMBER Assessment Year: 2016-17 Punjab National Bank, VersuS Addl. Commissioner of (Successor of erstwhile Oriental Income-tax, Spcl. Range-7 Bank of Commerce), Finance New Delhi. Division, Plot No. 4, Sector-10, Dwarka, New Delhi PAN: AAACP0165G (Appellant) (Respondent) Appellant by : Sh. KVSR Krishna, Ld. CA & Sh. Aman Goel, Ld. CA Respondent by : Ms. Sarita Kumar, Ld. CIT/DR Date of hearing: 06.03.2023 Date of order : 31.03.2023 ORDER PER N.K. CHOUDHRY, J.M. Th…

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

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘A’ BENCH, MUMBAI. Before Shri B.R. Baskaran (AM) & Smt. Kavitha Rajagopal (JM) I.T.A. No. 1920/Mum/2020 (A.Y. 2009-10) C.O. No. 129/Mum/2021 (A.Y. 2009-10) Vs. DCIT, Circle-3(4) M/s. Lupin Limited 7th Floor, Kalpataru Inspire 29th Floor Off. Western Express Center 1, World Highway, Santacruz East Trade Centre Mumbai-400 055. Cuffee Parade Mumbai-400 005. (Appellant) (Respondent) I.T.A. No. 395/Mum/2021 (A.Y. 2009-10) Vs. M/s. Lupin Limited ACIT, Circle-3(4) 29th Floor 7th Floor, Kalpataru Inspire Center 1, World Off. Western Express Trade Centre Highway, Santacruz…

M/S. Mindtree Limited, Bengaluru vs. The Deputy Commissioner of Income Tax, Central Circle-1(3), Bengaluru

In the result, the appeal by the assessee is allowed and revenue’s appeal is dismissed

ITA 988/BANG/2022[2012-13]Status: DisposedITAT Bangalore19 Dec 2022AY 2012-13

Bench: Shri N.V. Vasudevan & Ms. Padmavathy Sassessment Year : 2012-13

For Appellant: Shri Tata Krishna, AdvocateFor Respondent: Shri K. Sankar Ganesh, Jt.CIT(DR)(ITAT), Bengaluru
Section 10ASection 115JSection 143(3)Section 14ASection 154Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND Ms. PADMAVATHY S, ACCOUNTANT MEMBER Assessment year : 2012-13 M/s. Mindtree Limited, Vs. The Deputy Commissioner of Global Village, RVCE Post, Income Tax, Mysore Road, Central Circle 1(3), Bengaluru – 560 059. Bengaluru. PAN : AABCM 8839K APPELLANT RESPONDENT Assessment year : 2012-13 The Deputy Commissioner Vs. M/s. Mindtree Limited, of Income Tax, Bengaluru – 560 059. Central Circle 1(3), PAN : AABCM 8839K Bengaluru. APPELLANT RESPONDENT Assessee by : Shri Tata Krishna, Advocate Revenue by : Shri K. Sa…

Deputy Commissioner of Income Tax, Central Circle-1(3), Bangalore vs. M/S. Mindtree Limited, Bengaluru

In the result, the appeal by the assessee is allowed and revenue’s appeal is dismissed

ITA 1029/BANG/2022[2012-13]Status: DisposedITAT Bangalore19 Dec 2022AY 2012-13

Bench: Shri N.V. Vasudevan & Ms. Padmavathy Sassessment Year : 2012-13

For Appellant: Shri Tata Krishna, AdvocateFor Respondent: Shri K. Sankar Ganesh, Jt.CIT(DR)(ITAT), Bengaluru
Section 10ASection 115JSection 143(3)Section 14ASection 154Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND Ms. PADMAVATHY S, ACCOUNTANT MEMBER Assessment year : 2012-13 M/s. Mindtree Limited, Vs. The Deputy Commissioner of Global Village, RVCE Post, Income Tax, Mysore Road, Central Circle 1(3), Bengaluru – 560 059. Bengaluru. PAN : AABCM 8839K APPELLANT RESPONDENT Assessment year : 2012-13 The Deputy Commissioner Vs. M/s. Mindtree Limited, of Income Tax, Bengaluru – 560 059. Central Circle 1(3), PAN : AABCM 8839K Bengaluru. APPELLANT RESPONDENT Assessee by : Shri Tata Krishna, Advocate Revenue by : Shri K. Sa…

Mahindra & Mahindra Ltd, Mumbai vs. ACIT RG 2(2)(2), Mumbai

In the result, appeal by the assessee is partly allowed for statistical purpose

ITA 7287/MUM/2018[2014-15]Status: DisposedITAT Mumbai07 Nov 2022AY 2014-15

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

For Appellant: Shri H.P. MahajaniFor Respondent: Smt. Mahita Nair
Section 143(3)Section 144C(13)Section 144C(5)Section 14ASection 92C

…t to be added while computing book profits under section 115 JB of the Act. In this regard, reliance is placed on following decisions: `Mahindra & Mahindra Ltd. ITA No.7287/Mum./2018 (a) Vijaya Bank vs CIT, 190 Taxmann 257 (SC) (b) CIT vs Yokogawa India Ltd, 17 Taxmann.com 15 (Kar HC) (c) CIT vs Tainwala Chemicals and Plastics India Ltd, 34 Taxmann.com 159 (Bom HC) (d) Reliance Welfare Association Circle (ITA No. 5976/Mum/2012) Torrent Private Limited, R/Tax Appeal No. 1225 of 2018 (e) 109. From the perusal of record, it is evident that in the present case it needs to be examined, after necessary verification o…

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. &…

The ITO, Alappuzha vs. M/S.Extraweave P. Ltd, Alappuzha

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

ITA 448/COCH/2016[2010-11]Status: DisposedITAT Cochin24 Jun 2022AY 2010-11

Bench: Shri George George K. & Shri Laxmi Prasad Sahum/S. Extraweave Pvt. Ltd. Arattukulangara Complex 264B/Cmc 1 Vs. A.N. Puram, Alapuzha 688011 Sakteeswara Junction Cherthala 688524 Pan – Aabce5438L Appellant Respondent

For Appellant: Shri R. Krishan, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 10BSection 10B(3)Section 143(2)Section 195Section 195(6)Section 40

…y. Thus it can be seen that Section 10B(6) underwent an amendment by the Financial Act 2003 w.r.e.f. 01-04-2001 by which the Act made an enabling provision to carry forward and set off losses beyond Asst. Year 2000-02[10B(6)(i) & (ii)]. In Yokogawa India Ltd. 341 ITR 385 (Kar), it was held that even after section l0A/l0B were converted into a "deduction” provision w.e.f. 01-04-2001, the benefit of relief u/s 10AI/l0B is in the nature of "exemption" with reference to "commercial profits" and that as the income of the Section 10A units has to be excluded at source itself before arriving at the gross total income, t…

Future Polyesters Ltd, Mumbai vs. ACIT 5 (1)(2), Mumbai

In the result, the appeals of the assessee for AY 2011-12 and 2014-15

ITA 7557/MUM/2019[2014-15]Status: DisposedITAT Mumbai21 Jun 2022AY 2014-15
Section 14A

…THE INCOME TAX APPELLATE TRIBUNAL “F” Bench, Mumbai Shri B.R. Baskaran (AM) & Shri Kuldip Singh (JM) I.T.A. No. 7023/Mum/2019 (A.Y. 2011-12) I.T.A. No. 7024/Mum/2019 (A.Y. 2012-13) I.T.A. No. 7557/Mum/2019 (A.Y. 2014-15) Vs. ACIT-5(1)(2) Futura Polyesters Limited 111, T.V. Indl Estate Aayakar Bhavan S.K. Ahire Marg, Worli M.K. Road Mumbai-400 013. Churchgate Mumbai-400 020. PAN : AAACI340K (Appellant) (Respondent) Assessee by None Department by Shri Achal Sharma Date of Hearing 14.06.2022 Date of Pronouncement 21.06.2022 O R D E R Per B.R.Baskaran (AM) :- All the three appeals relating to Asst. Years 20…

Futura Polyesters Ltd., Mumbai vs. CIT 5 (1) (2), Mumbai

In the result, the appeals of the assessee for AY 2011-12 and 2014-15

ITA 7024/MUM/2019[2012-13]Status: DisposedITAT Mumbai21 Jun 2022AY 2012-13
Section 14A

…THE INCOME TAX APPELLATE TRIBUNAL “F” Bench, Mumbai Shri B.R. Baskaran (AM) & Shri Kuldip Singh (JM) I.T.A. No. 7023/Mum/2019 (A.Y. 2011-12) I.T.A. No. 7024/Mum/2019 (A.Y. 2012-13) I.T.A. No. 7557/Mum/2019 (A.Y. 2014-15) Vs. ACIT-5(1)(2) Futura Polyesters Limited 111, T.V. Indl Estate Aayakar Bhavan S.K. Ahire Marg, Worli M.K. Road Mumbai-400 013. Churchgate Mumbai-400 020. PAN : AAACI3404K (Appellant) (Respondent) Assessee by None Department by Shri Achal Sharma Date of Hearing 14.06.2022 Date of Pronouncement 21.06.2022 O R D E R Per B.R.Baskaran (AM) :- All the three appeals relating to Asst. Years 2…

Futura Polyesters Ltd., Mumbai vs. CIT 5 (1), Mumbai

In the result, the appeals of the assessee for AY 2011-12 and 2014-15

ITA 7023/MUM/2019[2011-12]Status: DisposedITAT Mumbai21 Jun 2022AY 2011-12
Section 14A

…THE INCOME TAX APPELLATE TRIBUNAL “F” Bench, Mumbai Shri B.R. Baskaran (AM) & Shri Kuldip Singh (JM) I.T.A. No. 7023/Mum/2019 (A.Y. 2011-12) I.T.A. No. 7024/Mum/2019 (A.Y. 2012-13) I.T.A. No. 7557/Mum/2019 (A.Y. 2014-15) Vs. ACIT-5(1)(2) Futura Polyesters Limited 111, T.V. Indl Estate Aayakar Bhavan S.K. Ahire Marg, Worli M.K. Road Mumbai-400 013. Churchgate Mumbai-400 020. PAN : AAACI340K (Appellant) (Respondent) Assessee by None Department by Shri Achal Sharma Date of Hearing 14.06.2022 Date of Pronouncement 21.06.2022 O R D E R Per B.R.Baskaran (AM) :- All the three appeals relating to Asst. Years 20…