CIT v. Yokogawa India Ltd.

391 ITR 274Supreme Court of India2017#271 most cited

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

Deduction under Section 10A or 10AA of the Income-tax Act is computed on the profits of the eligible unit without first setting off losses from other units or non-eligible units. Conversely, losses incurred by an eligible unit are allowed to be set off against the assessee's other taxable business profits.

290

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 10A · Section 10AA · Section 70 · set off of losses · eligible unit deduction · profits of SEZ unit · losses of other units · computation of 10A deduction · set off losses of 10AA units · gross total income

Also reported as

77 Taxmann.com 41291 CTR 1244 Taxmann 273

Sections most often in play

Section 10ASection 10AASection 139(1)Section 143(3)Section 10BSection 143(1)Section 115JBSection 139(5)
Read the full judgment

Issues it is cited on

section 70section 10aset off of lossessection 10bsection 10aasection 80hhunabsorbed depreciationsection 80hhccomputer softwaretested partyeligible businessgross total income

Judgments citing CIT v. Yokogawa India Ltd.

Zensar Technologies Ltd, Mumbai vs. DCIT 2(3), Mumbai

In the result, appeal of the assessee is partly allowed in the terms aforesaid

ITA 8870/MUM/2010[2006-07]Status: DisposedITAT Mumbai01 Dec 2023AY 2006-07

Bench: Shri Vikas Awasthy & Ms. Padmavathy.Sआअसं.8870/मुं/2010 (िन.व. 2006-07) M/S. Zensar Technologies Ltd., Magnet House, 2Nd Floor, N.M.Marg, Ballard Estate, Mumbai – 400 001 Pan: Aaacf- 0742- K ...... अपीलाथ"/Appellant बनाम Vs. Dcit-2(3), 5Th Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020 ..... "ितवादी/Respondent

For Appellant: Shri Nitesh Joshi, AdvocateFor Respondent: Shri Manoj Kumar- CIT DR
Section 10ASection 143(3)Section 14A

…be allowed after deduction u/s. 10A of the Act. The unabsorbed depreciation can be set off against any head of income. To support his argument he placed reliance on the decision by the Hon'ble Supreme Court of India in the case of CIT vs. Yokogawa India Ltd. 391 ITR 274 and the decision of Hon'ble Bombay High Court in the case of Black Veatch Consulting Pvt. Ltd., 348 ITR 72. He further pointed that similar issue has been decided by the Tribunal in assessee's own case in preceding Assessment Years i.e. for Assessment Year 2001-02, for Assessment Year 2002-03 and ITA No.2908/Mum/2008 Assessment Year 2003-04. 5.3…

Sureprep (India) P.Ltd, Mumbai vs. ITO WD 8(3)(2), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 5855/MUM/2014[2011-12]Status: DisposedITAT Mumbai03 Nov 2023AY 2011-12

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं.2243/मुं/2013 (िन.व.2009-10) आअसं.5523/मुं/2013 (िन.व.2010-11) आअसं.5855/मुं/2014 (िन.व.2011-12) M/S. Sureprep (India) Private Limited, 4Th Floor, Dhantak Plaza, Makwana Road, Marol, Andheri(E), Mumbai – 400 034. Pan: Aahcs-9039-H ...... अपीलाथ" /Appellant बनाम Vs. The Income Tax Officer, Ward 8(3)(2), 2Nd Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020. ..... "ितवादी/Respondent अपीलाथ" "ारा/ Appellant By : Shri Dalpat Shah & Ms. Arti Shah "ितवादी "ारा/Respondent By : Ms. Samrudhi Dhananjay Hande & Shri P.D. Chougule सुनवाई क" ितिथ/ Date Of Hearing : 25/08/2023 घोषणा क" ितिथ/ Date Of Pronouncement : 03/11/2023 आदेश आदेश/ Order आदेश आदेश Per Vikas Awasthy, Jm: These Three Appeals By The Assessee For Assessment Years 2009-10, 2010-11 & 2011-12 Are Taken Up Together For Adjudication As The Issues Involved In These Appeals Are Identical. The Appeal Of Assessee For Assessment Year 2009-10 Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-18, Mumbai [ In Short ‘The Cit(A)’ ], Dated 02/01/2013

For Appellant: Shri Dalpat Shah & Ms. Arti ShahFor Respondent: Ms. Samrudhi Dhananjay Hande &
Section 10ASection 10A(7)Section 143(3)Section 1O

…nce Act, 2000 w.e.f. 01/04/2001, deduction u/s. section 10A is to be allowed first and then the process of computation of profit and loss shall begin. In support of his contention, he placed reliance on the decision in the case of CIT vs. Yokogawa India Ltd., 391 ITR 274(SC). 5 ITA NO. 5523/MUM/2013(A.Y. 2010-11) 4.2 In respect of Ground No.3 of appeal, the ld. Authorized Representative of the assessee submitted that undisputedly, the assessee commenced its business from 01/03/2004 i.e. during the period relevant to the assessment year 2004-05, but the assessee set up eligible undertaking in Software Technology…

Sureprep (India)P.Ltd, Mumbai vs. ITO 8(3)(2), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 5523/MUM/2013[2010-11]Status: DisposedITAT Mumbai03 Nov 2023AY 2010-11

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं.2243/मुं/2013 (िन.व.2009-10) आअसं.5523/मुं/2013 (िन.व.2010-11) आअसं.5855/मुं/2014 (िन.व.2011-12) M/S. Sureprep (India) Private Limited, 4Th Floor, Dhantak Plaza, Makwana Road, Marol, Andheri(E), Mumbai – 400 034. Pan: Aahcs-9039-H ...... अपीलाथ" /Appellant बनाम Vs. The Income Tax Officer, Ward 8(3)(2), 2Nd Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020. ..... "ितवादी/Respondent अपीलाथ" "ारा/ Appellant By : Shri Dalpat Shah & Ms. Arti Shah "ितवादी "ारा/Respondent By : Ms. Samrudhi Dhananjay Hande & Shri P.D. Chougule सुनवाई क" ितिथ/ Date Of Hearing : 25/08/2023 घोषणा क" ितिथ/ Date Of Pronouncement : 03/11/2023 आदेश आदेश/ Order आदेश आदेश Per Vikas Awasthy, Jm: These Three Appeals By The Assessee For Assessment Years 2009-10, 2010-11 & 2011-12 Are Taken Up Together For Adjudication As The Issues Involved In These Appeals Are Identical. The Appeal Of Assessee For Assessment Year 2009-10 Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-18, Mumbai [ In Short ‘The Cit(A)’ ], Dated 02/01/2013

For Appellant: Shri Dalpat Shah & Ms. Arti ShahFor Respondent: Ms. Samrudhi Dhananjay Hande &
Section 10ASection 10A(7)Section 143(3)Section 1O

…nce Act, 2000 w.e.f. 01/04/2001, deduction u/s. section 10A is to be allowed first and then the process of computation of profit and loss shall begin. In support of his contention, he placed reliance on the decision in the case of CIT vs. Yokogawa India Ltd., 391 ITR 274(SC). 5 ITA NO. 5523/MUM/2013(A.Y. 2010-11) 4.2 In respect of Ground No.3 of appeal, the ld. Authorized Representative of the assessee submitted that undisputedly, the assessee commenced its business from 01/03/2004 i.e. during the period relevant to the assessment year 2004-05, but the assessee set up eligible undertaking in Software Technology…

Sureprep (India) P.Ltd, Mumbai vs. ITO RG 8(3)(2), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 2243/MUM/2013[2009-10]Status: DisposedITAT Mumbai03 Nov 2023AY 2009-10

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं.2243/मुं/2013 (िन.व.2009-10) आअसं.5523/मुं/2013 (िन.व.2010-11) आअसं.5855/मुं/2014 (िन.व.2011-12) M/S. Sureprep (India) Private Limited, 4Th Floor, Dhantak Plaza, Makwana Road, Marol, Andheri(E), Mumbai – 400 034. Pan: Aahcs-9039-H ...... अपीलाथ" /Appellant बनाम Vs. The Income Tax Officer, Ward 8(3)(2), 2Nd Floor, Aaykar Bhavan, M.K.Road, Mumbai – 400 020. ..... "ितवादी/Respondent अपीलाथ" "ारा/ Appellant By : Shri Dalpat Shah & Ms. Arti Shah "ितवादी "ारा/Respondent By : Ms. Samrudhi Dhananjay Hande & Shri P.D. Chougule सुनवाई क" ितिथ/ Date Of Hearing : 25/08/2023 घोषणा क" ितिथ/ Date Of Pronouncement : 03/11/2023 आदेश आदेश/ Order आदेश आदेश Per Vikas Awasthy, Jm: These Three Appeals By The Assessee For Assessment Years 2009-10, 2010-11 & 2011-12 Are Taken Up Together For Adjudication As The Issues Involved In These Appeals Are Identical. The Appeal Of Assessee For Assessment Year 2009-10 Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-18, Mumbai [ In Short ‘The Cit(A)’ ], Dated 02/01/2013

For Appellant: Shri Dalpat Shah & Ms. Arti ShahFor Respondent: Ms. Samrudhi Dhananjay Hande &
Section 10ASection 10A(7)Section 143(3)Section 1O

…nce Act, 2000 w.e.f. 01/04/2001, deduction u/s. section 10A is to be allowed first and then the process of computation of profit and loss shall begin. In support of his contention, he placed reliance on the decision in the case of CIT vs. Yokogawa India Ltd., 391 ITR 274(SC). 5 ITA NO. 5523/MUM/2013(A.Y. 2010-11) 4.2 In respect of Ground No.3 of appeal, the ld. Authorized Representative of the assessee submitted that undisputedly, the assessee commenced its business from 01/03/2004 i.e. during the period relevant to the assessment year 2004-05, but the assessee set up eligible undertaking in Software Technology…

Sureprep (India) P.Ltd, Mumbai vs. DCIT RG 8(3), Mumbai

In the result, appeal of assessee is allowed

ITA 8818/MUM/2011[2007-08]Status: DisposedITAT Mumbai31 Oct 2023AY 2007-08
Section 10ASection 143(3)Section 263Section 32(2)

…prejudicial to the interest of Revenue. He referred to the said show cause notice at page 81 of the paper book. He further pointed that the issue is squarely covered by the decision of Hon'ble Supreme Court of India in the case of CIT vs. Yokogawa India Ltd., 391 ITR 274. The ld. Authorized Representative of the assessee submitted that since the assessee had claimed deduction u/s. 10A of the Act in line with the provisions explained by the Hon'ble Apex Court and the Assessing Officer has accepted the same, there is no error in the assessment order. 3. Per contra, Ms. Samrudhi Dhananjay Hande representing the Dep…

Cabot Technology Solution Private Limited, Kochi vs. Principal Commissioner of Income Tax, Kochi-1, Kochi

In the result, the assessee’s appeal is disposed of on the afore-stated terms

ITA 609/COCH/2022[2017-2018]Status: DisposedITAT Cochin31 Oct 2023AY 2017-2018

Bench: Shri Sanjay Arora & Shri Manomohan Dascabot Technology Solutions Principal Commissioner Of Pvt. Ltd. Income Tax – 1 204, 2Nd Floor, Lulu Cyber Tower Vs. Cr Building , Is Press Infopark, Kochi 682042 Road, Kochi 682018 [Pan:Aadcc 9320K] (Appellant) (Respondent) Assessee By: Shri Allen Joseph, Ca Revenue By: Shri Sajit Kumar Das, Cit- D.R. Date Of Hearing: 18.10.2023 Date Of Pronouncement: 31.10.2023 O R D E R Per Sanjay Arora, Am This Is An Appeal By The Assessee Agitating The Revision Of It’S Order Under Section 143(3) Of The Income Tax Act, 1961 (‘The Act’) Dated 20.12.2019 For Assessment Year (Ay) 2017-18 By The Principal Commissioner Of Income Act (Pr. Cit), Vide His Order Dated 18.01.2022. 2.1 The Brief Facts Of The Case Are That The Assessee, A Company In Software Development Business, Returned, For The Relevant Year, An Income Of Rs.3,67,574 Under The Regular Provisions Of The Act & A Book-Profit Of Rs.14,33,474 U/S.115Jb Of The Act, Paying The Higher Tax On The Latter. The Same Was Subject To Regular Assessment, Determining The Income Under The Regular Provisions At Rs. 8,10,750 & At The Returned Book-Profit Under Mat Provisions. The Assessment Record Was Subsequently Examined By The Learned Pr. Cit In Exercise Of His Revisionary

For Appellant: Shri Allen Joseph, CAFor Respondent: Shri Sajit Kumar Das, CIT- D.R
Section 10ASection 115JSection 142(1)Section 143(3)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Sanjay Arora, Accountant Member and Shri Manomohan Das, Judicial Member Cabot Technology Solutions Principal Commissioner of Pvt. Ltd. Income Tax – 1 204, 2nd Floor, Lulu Cyber Tower vs. CR Building , IS Press Infopark, Kochi 682042 Road, Kochi 682018 [PAN:AADCC 9320K] (Appellant) (Respondent) Assessee by: Shri Allen Joseph, CA Revenue by: Shri Sajit Kumar Das, CIT- D.R. Date of Hearing: 18.10.2023 Date of Pronouncement: 31.10.2023 O R D E R Per Sanjay Arora, AM This is an Appeal by the Assessee agitating the revision of it’s order under sec…

Ba Continuum India P.Ltd ( Since Merged Wotj Ba Cotinuum Solutions P. Ltd ), Mumbai vs. ITO WD 9(1)(2), Mumbai

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

ITA 2271/MUM/2011[2006-07]Status: DisposedITAT Mumbai17 Aug 2023AY 2006-07

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant () Assessment Year: 2006-07 Ba Continuum India Private Ito, Ward 9(1)(2), Limited (Since Merged With Ba Room No. 226, Vs. Continuum Solutions Pvt. Ltd.), Aayakar Bhavan, Mk Road, Building No. 5, K. Raheja Mind Mumbai-20. Space, Hitech City, Madhapur, Hyderabad-500081. Pan No. Aaccc 3062 D Appellant Respondent

For Appellant: Mr. Nishant Thakkar, AdvFor Respondent: Mr. Salil Mishra, CIT-DR
Section 10ASection 40

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “B” MUMBAI BEFORE SHRI VIKAS AWASTHY (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2006-07 BA Continuum India Private ITO, Ward 9(1)(2), Limited (Since merged with BA Room No. 226, Vs. Continuum Solutions Pvt. Ltd.), Aayakar Bhavan, MK Road, Building No. 5, K. Raheja Mind Mumbai-20. Space, Hitech City, Madhapur, Hyderabad-500081. PAN No. AACCC 3062 D Appellant Respondent Assessee by : Mr. Nishant Thakkar, Adv. Revenue by : Mr. Salil Mishra, CIT-DR Date of Hearing : 15/06/2023 : Date of pronouncement 17/08/2023 ORDER PER OM PRA…

DCIT CC 3(4) Cen RG 3, Mumbai vs. Patel Engineering Ltd, Mumbai

In the result, appeal filed by the assessee is dismissed

ITA 2486/MUM/2017[2007-08]Status: DisposedITAT Mumbai07 Jul 2023AY 2007-08

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon’Ble

Section 14ASection 154Section 199(2)Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”, MUMBAI BEFORE SHRI ABY T. VARKEY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON’BLE ACCOUNTANT MEMBER ITA NO. 2485 & 2486/MUM/2017 (A.Ys: 2006-07 & 2007-08) DCIT – CC-3(4) v. M/s. Patel Engineering Ltd. Central Range – 3 Patel Estate Road Room No. 1915, 19th Floor Jogeswari (W) Air India Building, Nariman Point Mumbai - 400102 Mumbai – 400 021 PAN: AAACP2567L (Appellant) (Respondent) C.O. NO. 265 & 355/MUM/2018 [ARISING OUT OF ITA NO. 2485 & 2486/MUM/2017 (A.Ys: 2006-07 & 2007-08)] M/s. Patel Engineering Ltd. v. DCIT – CC-3(4) Patel Estate Road Cent…

DCIT CC 3(4) Cen RG 3, Mumbai vs. Patel Engineering Ltd, Mumbai

In the result, appeal filed by the assessee is dismissed

ITA 2485/MUM/2017[2006-07]Status: DisposedITAT Mumbai07 Jul 2023AY 2006-07

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon’Ble

Section 14ASection 154Section 199(2)Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”, MUMBAI BEFORE SHRI ABY T. VARKEY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON’BLE ACCOUNTANT MEMBER ITA NO. 2485 & 2486/MUM/2017 (A.Ys: 2006-07 & 2007-08) DCIT – CC-3(4) v. M/s. Patel Engineering Ltd. Central Range – 3 Patel Estate Road Room No. 1915, 19th Floor Jogeswari (W) Air India Building, Nariman Point Mumbai - 400102 Mumbai – 400 021 PAN: AAACP2567L (Appellant) (Respondent) C.O. NO. 265 & 355/MUM/2018 [ARISING OUT OF ITA NO. 2485 & 2486/MUM/2017 (A.Ys: 2006-07 & 2007-08)] M/s. Patel Engineering Ltd. v. DCIT – CC-3(4) Patel Estate Road Cent…

Oracle Financial Services Software Limited (Formerly Known As I-Flex Solutions Limited), Mumbai vs. Additional Commissioner of Income Tax Range-8(2), Mumbai

In the result, the appeal of the assessee is partly allowed and the appeal of the revenue is treated as partly allowed

ITA 1473/MUM/2018[2006-07]Status: DisposedITAT Mumbai23 Jun 2023AY 2006-07

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

Section 10ASection 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘J’ BENCH, MUMBAI. Before Shri B.R. Baskaran (AM) & Smt. Kavitha Rajagopal (JM) I.T.A. No. 1473/Mum/2018 (A.Y. 2006-07) Vs. Addl. CIT Oracle Finance Services Software Limited Range-8(2) (formerly known as i-flex Mumbai. Solutions Limited) Oracle Park, Off Western Express Highway, Goregaon-E Mumbai-400 063. (Appellant) (Respondent) I.T.A. No. 1579/Mum/2018 (A.Y. 2006-07) Vs. Oracle Finance Services ACIT-13(1)(1) 2nd Floor Software Limited Room No. 218 (formerly known as i-flex Aayakar Bhavan Solutions Limited) M.K. Road Oracle Park, Off Western Mumbai-400 020. Expres…

M/S. Zensar Technologies Ltd, Mumbai vs. The ACIT -2(3), Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 2908/MUM/2008[2003-2004]Status: DisposedITAT Mumbai12 May 2023AY 2003-2004

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Zensor Technologies Ltd V. Acit-2(3) Magnet House, 2Nd Floor Mumbai Narottam Morarjee Marg Ballard Estate, Mumbai- 400038 Pan: Aaacf0742K (Appellant) (Respondent) Acit- 2(3) V. M/S. Zensor Technologies Ltd Room No. 555, Aayakar Bhavan Magnet House, 2Nd Floor Mumbai Narottam Morarjee Marg Ballard Estate, Mumbai- 400038 Pan: Aaacf0742K (Appellant) (Respondent)

Section 10ASection 80HSection 92Section 92(1)Section 92CSection 94(7)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”, MUMBAI BEFORE SHRI ABY T VARKEY, HON’BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER M/s. Zensor Technologies Ltd v. ACIT-2(3) Magnet House, 2nd Floor Mumbai Narottam Morarjee Marg Ballard Estate, Mumbai- 400038 PAN: AAACF0742K (Appellant) (Respondent) ACIT- 2(3) v. M/s. Zensor Technologies Ltd Room No. 555, Aayakar Bhavan Magnet House, 2nd Floor Mumbai Narottam Morarjee Marg Ballard Estate, Mumbai- 400038 PAN: AAACF0742K (Appellant) (Respondent) Assessee Represented by : Shri Nitesh Joshi Department Represented by : Shri. Karan P.…

Thomson Press (India) Ltd., New Delhi vs. Addl. CIT, Spl. Range- 9, New Delhi

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 6543/DEL/2018[2013-14]Status: DisposedITAT Delhi06 Apr 2023AY 2013-14

Bench: Shri G.S. Pannu, Hon’Ble & Ms. Astha Chandraassessment Year: 2013-14

For Appellant: Shri Salil Agarwal, Sr. AdvocateFor Respondent: Shri Umesh Takiyar, Sr. DR
Section 10ASection 143(3)Section 14ASection 43B

…Court. 10.1 On appeal, the Ld. CIT(A) did not give relief for want of due details. This brought the assessee before the Tribunal. 10.2 The Ld. AR submitted that Hon’ble Supreme Court has dismissed the SLP filed by the Revenue in CIT vs. Yokogawa India Ltd. 391 ITR 274 (SC). Thus the very basis of impugned disallowance by the Ld. AO does not hold good. As regards the finding of Ld. CIT(A) about lack of due details, it is submitted by the Ld. AR that this finding of the Ld. CIT(A) is factually incorrect as, inviting our attention to pages 1-5 of Paper Book-II it is stated that the assessee had filed computation…

Mepco Industries Ltd., Madurai vs. ITO, Corporate Ward-3, Madurai

In the result, appeal filed by the assessee is allowed

ITA 594/CHNY/2020[2014-15]Status: DisposedITAT Chennai15 Mar 2023AY 2014-15

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Ble

For Respondent: Mr.D.Hema Bhupal, JCIT
Section 115JSection 143(3)Section 71Section 80Section 80ISection 80I(6)

…t to profit of another eligible unit and quantified net profit eligible for deduction u/s.80IA of the Act. We find that this issue is squarely covered by the decision of the Hon’ble Supreme Court in the case of CIT v. Yakogawa India Ltd. reported in [2017] 391 ITR 274 (SC), where the Hon’ble Supreme Court clearly held that while computing the quantum of deduction u/s.80 I(6) of the Act, the AO, no doubt, has to treat the profits derived from an industrial undertaking as the only source of income in order to arrive at deduction under Chapter VI of the Act. The Hon’ble Supreme Court further held that u/s.80 I…

Addl CIT RG 8(2), Mumbai vs. Oracle Financial Services Software Ltd ( Formerly Known M.S, I-Flex Solutions Ltd), Mumbai

In the result, appeal is dismissed

ITA 5079/MUM/2010[2005-06]Status: DisposedITAT Mumbai16 Jan 2023AY 2005-06

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year: 2005-06 M/S. Oracle Financial Additional Commissioner Services Software Ltd. Of Income Tax, (Formerly Known As I-Flex Range 8(2), Solutions Ltd.), Mumbai Oracle Park, Vs. Off Western Express Highway, Goregaon (East), Mumbai – 400 063 Pan: Aaacc1448B (Appellant) (Respondent) Assessment Year: 2005-06 Dcit 8(2), M/S. Oracle Financial Room No.216-A, Services Software Ltd. Aayakar Bhavan, (Formerly Known As I-Flex M.K. Road, Vs. Solutions Ltd.), Mumbai - 400020 399, Subhash Road, Vile Parle (East), Mumbai – 400 057 Pan: Aaacc1448B (Appellant) (Respondent)

For Appellant: Shri Ajit Jain, A.R. &For Respondent: Dr. Yogesh Kamat, CIT D.R
Section 10ASection 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “K”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Assessment Year: 2005-06 M/s. Oracle Financial Additional Commissioner Services Software Ltd. of Income Tax, (Formerly known as I-flex Range 8(2), Solutions Ltd.), Mumbai Oracle Park, Vs. Off Western Express Highway, Goregaon (East), Mumbai – 400 063 PAN: AAACC1448B (Appellant) (Respondent) Assessment Year: 2005-06 DCIT 8(2), M/s. Oracle Financial Room No.216-A, Services Software Ltd. Aayakar Bhavan, (Formerly known as i-flex M.K. Road, Vs. Solutions Ltd.), Mumbai - 400…

Oracle Financial Services Software Ltd ( Formerly Knwoan As I-Flex Solutions Ltd ), Mumbai vs. Addl CIT RG 8(2), Mumbai

In the result, appeal is dismissed

ITA 4489/MUM/2010[2005-06]Status: DisposedITAT Mumbai16 Jan 2023AY 2005-06

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year: 2005-06 M/S. Oracle Financial Additional Commissioner Services Software Ltd. Of Income Tax, (Formerly Known As I-Flex Range 8(2), Solutions Ltd.), Mumbai Oracle Park, Vs. Off Western Express Highway, Goregaon (East), Mumbai – 400 063 Pan: Aaacc1448B (Appellant) (Respondent) Assessment Year: 2005-06 Dcit 8(2), M/S. Oracle Financial Room No.216-A, Services Software Ltd. Aayakar Bhavan, (Formerly Known As I-Flex M.K. Road, Vs. Solutions Ltd.), Mumbai - 400020 399, Subhash Road, Vile Parle (East), Mumbai – 400 057 Pan: Aaacc1448B (Appellant) (Respondent)

For Appellant: Shri Ajit Jain, A.R. &For Respondent: Dr. Yogesh Kamat, CIT D.R
Section 10ASection 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “K”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Assessment Year: 2005-06 M/s. Oracle Financial Additional Commissioner Services Software Ltd. of Income Tax, (Formerly known as I-flex Range 8(2), Solutions Ltd.), Mumbai Oracle Park, Vs. Off Western Express Highway, Goregaon (East), Mumbai – 400 063 PAN: AAACC1448B (Appellant) (Respondent) Assessment Year: 2005-06 DCIT 8(2), M/s. Oracle Financial Room No.216-A, Services Software Ltd. Aayakar Bhavan, (Formerly known as i-flex M.K. Road, Vs. Solutions Ltd.), Mumbai - 400…

ACIT, Chennai vs. Cornet Technology (India) Pvt Ltd., Kancheepuram

In the result, appeals filed by the revenue for all three assessment years are dismissed

ITA 3383/CHNY/2019[2011-12]Status: DisposedITAT Chennai11 Jan 2023AY 2011-12

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 3381, 3382 & 3383/Chny/2019 िनधा"रण वष" / Assessment Years: 2006-07, 2010-11 & 2011-12 Assistant Commissioner Of M/S. Cornet Technologies Income Tax, V. (India) Pvt. Ltd., Corporate Circle -1(2), “A” Wing, Ii Floor, New Plot No. Chennai – 600 034. 10, A-16, Sipcot Information Technology Park, Padur Post, Siruseri, Kanchipuram – 603 103. [Pan: Aabcc-5184-B] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Ar V Sreenivasan, Addl. Cit ""यथ" क" ओर से/Respondent By : Shri. P.V. Krishnamani, Ca सुनवाई क" तारीख/Date Of Hearing : 04.01.2023 घोषणा क" तारीख/Date Of Pronouncement : 11.01.2023

For Appellant: Shri. AR V Sreenivasan, Addl. CITFor Respondent: Shri. P.V. Krishnamani, CA
Section 10ASection 10BSection 14Section 1O

…ings of the AO, with regard to the computation of deduction u/s. 10B of the Act, without setting up losses of other units, in light of the decision of Hon’ble Apex Court in the :-7-: ITA. No:3381, 3382 & 3383/Chny/2019 case of CIT vs Yokogawa India Ltd [2017] 77 Taxmann.com 41 (SC), and argued that deduction u/s. 10B of the Act, to eligible unit should be allowed without setting off of losses of other units. The CIT(A), after considering relevant submissions of the assessee and also by following the decision of Jurisdictional High Court of Madras in the case of Live Connections Software Solutions P. Ltd vs CIT [2…

ACIT, Chennai vs. Cornet Technology (India) Pvt Ltd., Kancheepuram

In the result, appeals filed by the revenue for all three assessment years are dismissed

ITA 3382/CHNY/2019[2010-11]Status: DisposedITAT Chennai11 Jan 2023AY 2010-11

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 3381, 3382 & 3383/Chny/2019 िनधा"रण वष" / Assessment Years: 2006-07, 2010-11 & 2011-12 Assistant Commissioner Of M/S. Cornet Technologies Income Tax, V. (India) Pvt. Ltd., Corporate Circle -1(2), “A” Wing, Ii Floor, New Plot No. Chennai – 600 034. 10, A-16, Sipcot Information Technology Park, Padur Post, Siruseri, Kanchipuram – 603 103. [Pan: Aabcc-5184-B] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Ar V Sreenivasan, Addl. Cit ""यथ" क" ओर से/Respondent By : Shri. P.V. Krishnamani, Ca सुनवाई क" तारीख/Date Of Hearing : 04.01.2023 घोषणा क" तारीख/Date Of Pronouncement : 11.01.2023

For Appellant: Shri. AR V Sreenivasan, Addl. CITFor Respondent: Shri. P.V. Krishnamani, CA
Section 10ASection 10BSection 14Section 1O

…ings of the AO, with regard to the computation of deduction u/s. 10B of the Act, without setting up losses of other units, in light of the decision of Hon’ble Apex Court in the :-7-: ITA. No:3381, 3382 & 3383/Chny/2019 case of CIT vs Yokogawa India Ltd [2017] 77 Taxmann.com 41 (SC), and argued that deduction u/s. 10B of the Act, to eligible unit should be allowed without setting off of losses of other units. The CIT(A), after considering relevant submissions of the assessee and also by following the decision of Jurisdictional High Court of Madras in the case of Live Connections Software Solutions P. Ltd vs CIT [2…

ACIT, Chennai vs. Cornet Technology (India) Pvt Ltd., Kancheepuram

In the result, appeals filed by the revenue for all three assessment years are dismissed

ITA 3381/CHNY/2019[2006-07]Status: DisposedITAT Chennai11 Jan 2023AY 2006-07

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 3381, 3382 & 3383/Chny/2019 िनधा"रण वष" / Assessment Years: 2006-07, 2010-11 & 2011-12 Assistant Commissioner Of M/S. Cornet Technologies Income Tax, V. (India) Pvt. Ltd., Corporate Circle -1(2), “A” Wing, Ii Floor, New Plot No. Chennai – 600 034. 10, A-16, Sipcot Information Technology Park, Padur Post, Siruseri, Kanchipuram – 603 103. [Pan: Aabcc-5184-B] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Ar V Sreenivasan, Addl. Cit ""यथ" क" ओर से/Respondent By : Shri. P.V. Krishnamani, Ca सुनवाई क" तारीख/Date Of Hearing : 04.01.2023 घोषणा क" तारीख/Date Of Pronouncement : 11.01.2023

For Appellant: Shri. AR V Sreenivasan, Addl. CITFor Respondent: Shri. P.V. Krishnamani, CA
Section 10ASection 10BSection 14Section 1O

…ings of the AO, with regard to the computation of deduction u/s. 10B of the Act, without setting up losses of other units, in light of the decision of Hon’ble Apex Court in the :-7-: ITA. No:3381, 3382 & 3383/Chny/2019 case of CIT vs Yokogawa India Ltd [2017] 77 Taxmann.com 41 (SC), and argued that deduction u/s. 10B of the Act, to eligible unit should be allowed without setting off of losses of other units. The CIT(A), after considering relevant submissions of the assessee and also by following the decision of Jurisdictional High Court of Madras in the case of Live Connections Software Solutions P. Ltd vs CIT [2…

ACIT -3(1)(2), Mumbai vs. Hikal Ltd., Mumbai

In the result, the In the result, the appeal of Revenue for assessment year 2010

ITA 2320/MUM/2016[2010-11]Status: DisposedITAT Mumbai28 Dec 2022AY 2010-11

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2010-11 & Assessment Year: 2011-12 Acit-3(1)(2), Hikal Ltd., Room No. 607, 6Th Floor, 717/718, Maker Chambers V, Aayakar Bhavan, Vs. Nariman Point, Mumbai-400020. Mumbai-400021. Pan No. Aaach 0383 A Appellant Respondent : Revenue By Mr. Sanjay Vishwas Rao Deshmukh, Cit-Dr/ Mr. R.N. D’Souza, Dr Assessee By : Mr. Sanjay Parikh, Ar : Date Of Hearing 02/11/2022 Date Of Pronouncement : 28/12/2022

For Appellant: Mr. Sanjay Parikh, ARFor Respondent: Revenue by Mr. Sanjay Vishwas Rao
Section 14A

…followed again. He also invited our attention to the order of the Hon’ble Supreme Court in the case of Hon’ble Supreme Court in the case of CIT & Another v. M/s CIT & Another v. M/s. Hikal Ltd. ITA Nos. 2320/M/2016 & 803/M/2017 Yokogawa India Limited (2017) 391 ITR 274 (SC) in support of Yokogawa India Limited (2017) 391 ITR 274 (SC) Yokogawa India Limited (2017) 391 ITR 274 (SC) his contentions. He accordingly prayed that following the above his contentions. He accordingly prayed that following the above his contentions. He accordingly prayed that following the above decisions, the Assessing Officer decisions,…

ITO 2(3)(3), Mumbai vs. Zensar Technologies Ltd, Mumbai

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

ITA 955/MUM/2013[2002-03]Status: DisposedITAT Mumbai14 Sept 2022AY 2002-03

Bench: Shri G.S. Pannuand Shri Sandeep Singh Karhail

For Appellant: Shri Mihir NaniwadekarFor Respondent: Shri Anil Kumar Das
Section 10ASection 115JSection 143(3)Section 250Section 263Section 80HSection 92C

…nst the normal business income. 5 M/s. Zensar Technolgies Ltd. ITA No.955/Mum./2013 ITA No.276/Mum./2013 9. We find that this issue is now settled in favour of the taxpayer by the decision of Hon‟ble Supreme Court rendered in CIT v/s Yokogawa India, [2017] 391 ITR 274 (SC), wherein it has been held that deductions contemplated under section 10A of the Act is qua the profits of eligible undertaking of an assessee on a stand-alone basis and without reference to the other eligible or non-eligible units or undertakings of the assessee. The relevant observations of the Hon‟ble Supreme Court are as under: “16. From…