CIT vs AVM Ltd (146 ITR 35) (Mad) CIT v. Phool Chand Jiwan Ram (

DCIT Cen Cir 8(3), Mumbai vs. Tranquil Homes & Holding P.Ltd, Bangalore

Bench: Shri D.T. Garasia () & Shri Ashwani Taneja ()

…e, and therefore, ‘write-back’ of such amount cannot be treated as business income u/s 28(iv) or 41(1) of the Act, in view of the following judgements:- CIT vs AVM Ltd (146 ITR 35) (Mad) CIT vs Phool Chand Jiwan Ram (131 ITR 37) (Del) APR Ltd vs Dy.CIT [2003] 87 ITD 618 (Hyd) Dy.CIT vs Tosha International Ltd [2008] 116 TTJ (Delhi) 941 Impast (P) Ltd vs Income Tax Officer [2004] 91 ITD 354 (Del) Helios Food Improvers (P) Ltd vs Dy.CIT [2007] 14 SOT 546 (Mum) Prism Cement Ltd vs Jt CIT [2006] 285 ITR(AT) 43 / 101 ITD 103(Mum) ITO vs Ahuja Graphic Machinery (P) Ltd [2007] 109 ITD 71 (Mum)(TM) Accelerated Freeze and…

DCIT Cen Cir 8(3), Mumbai vs. Nalwa Chrome P.Ltd, Mumbai

Bench: Shri D.T. Garasia () & Shri Ashwani Taneja ()

…e, and therefore, ‘write-back’ of such amount cannot be treated as business income u/s 28(iv) or 41(1) of the Act, in view of the following judgements:- CIT vs AVM Ltd (146 ITR 35) (Mad) CIT vs Phool Chand Jiwan Ram (131 ITR 37) (Del) APR Ltd vs Dy.CIT [2003] 87 ITD 618 (Hyd) Dy.CIT vs Tosha International Ltd [2008] 116 TTJ (Delhi) 941 Impast (P) Ltd vs Income Tax Officer [2004] 91 ITD 354 (Del) Helios Food Improvers (P) Ltd vs Dy.CIT [2007] 14 SOT 546 (Mum) Prism Cement Ltd vs Jt CIT [2006] 285 ITR(AT) 43 / 101 ITD 103(Mum) ITO vs Ahuja Graphic Machinery (P) Ltd [2007] 109 ITD 71 (Mum)(TM) Accelerated Freeze and…

DCIT Cir 3(3), Mumbai vs. Sicom Ltd, Mumbai

In the result, appeal of Revenue is dismissed whereas appeal of the assessee is allowed in part in terms indicated hereinabove

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm M/S. Sicom Ltd., Vs. Dcit – 3(3) – Mumbai-20 Nirmal, 1St Floor, Nariman Point, Mumbai – 400 021 Pan/Gir No. Aaacs5524J Appellant) .. Respondent) & Dcit – 3(3) – Mumbai- Vs. M/S. Sicom Ltd., Nirmal, 1St Floor, Nariman Point, 20 Mumbai – 400 021 Pan/Gir No. Aaacs5524J Appellant) .. Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI AMARJIT SINGH, JM M/s. SICOM Ltd., Vs. DCIT – 3(3) – Mumbai-20 Nirmal, 1st Floor, Nariman Point, Mumbai – 400 021 PAN/GIR No. AAACS5524J Appellant) .. Respondent) & DCIT – 3(3) – Mumbai- Vs. M/s. SICOM Ltd., Nirmal, 1st Floor, Nariman Point, 20 Mumbai – 400 021 PAN/GIR No. AAACS5524J Appellant) .. Respondent) Assessee by Shri Rajan Vora with Shri Nikil Tiwari Revenue by Shri B. Pruseth Date of Hearing 20/09/2016 Date of Pronouncement 06/12/2016 आदेश / O R D E R PER R.C.SHARMA (A.M): These are the cross appeals filed by t…

Sicom Ltd, Mumbai vs. DCIT RG 3(3), Mumbai

In the result, appeal of Revenue is dismissed whereas appeal of the assessee is allowed in part in terms indicated hereinabove

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm M/S. Sicom Ltd., Vs. Dcit – 3(3) – Mumbai-20 Nirmal, 1St Floor, Nariman Point, Mumbai – 400 021 Pan/Gir No. Aaacs5524J Appellant) .. Respondent) & Dcit – 3(3) – Mumbai- Vs. M/S. Sicom Ltd., Nirmal, 1St Floor, Nariman Point, 20 Mumbai – 400 021 Pan/Gir No. Aaacs5524J Appellant) .. Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI AMARJIT SINGH, JM M/s. SICOM Ltd., Vs. DCIT – 3(3) – Mumbai-20 Nirmal, 1st Floor, Nariman Point, Mumbai – 400 021 PAN/GIR No. AAACS5524J Appellant) .. Respondent) & DCIT – 3(3) – Mumbai- Vs. M/s. SICOM Ltd., Nirmal, 1st Floor, Nariman Point, 20 Mumbai – 400 021 PAN/GIR No. AAACS5524J Appellant) .. Respondent) Assessee by Shri Rajan Vora with Shri Nikil Tiwari Revenue by Shri B. Pruseth Date of Hearing 20/09/2016 Date of Pronouncement 06/12/2016 आदेश / O R D E R PER R.C.SHARMA (A.M): These are the cross appeals filed by t…