Coated Fabrics (P.) Ltd. v. JCIT

101 ITD 297Income Tax Appellate Tribunal2006#21825 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 348,487 Indian tax judgments — from 2016 to 2025.

Sections most often in play

Section 143(1)Section 154Section 71Section 71(2)Section 72

Judgments citing Coated Fabrics (P.) Ltd. v. JCIT

M/S Paramanand and Sons, Bengaluru vs. Income Tax Officer, Ward 5(2)(1), Bengaluru

In the result, the appeal of the assessee is allowed

ITA 2055/BANG/2024[2020-21]Status: DisposedITAT Bangalore28 Jan 2025AY 2020-21

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Years : 2020-21

For Appellant: Shri Ashok A Kulkarni, AdvocateFor Respondent: Shri Ganesh R Gale, Standing Counsel for Dept
Section 143(1)Section 154Section 71(2)

…provisions of sub-section (3) of section 71, the assessee is not allowed to set off capital loss against income under any other head. The above view is fortified by the decision of the Pune Bench of the Tribunal in 'Coated Fabrics (P.) Ltd. v. Jt. CIT' [2006] 101 ITD 297. 7. In view of this, we do not find any justification on the part of the lower authorities in making the impugned adjustments and, therefore, the same are set aside. The Assessing officer is directed to accept the returned income /computation of the assessee, as such. 11.2 In view of the foregoing and respectfully following the decision of Chand…

M/S. Peethambra Granites (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result appeal filed by assessee stands allowed

ITA 1188/DEL/2014[2008-09]Status: DisposedITAT Delhi10 Aug 2018AY 2008-09

Bench: Sh. R.S. Syal & Smt. Beena A. Pillaiita No. 1188/Del/2014 : Asstt. Year : 2008-09

For Appellant: Sh. R.K.Talwar, AdvFor Respondent: Sh. Ravi Kant Gupta, Sr. DR
Section 112Section 139(1)Section 143Section 143(2)Section 143(3)Section 154Section 70Section 71(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’, NEW DELHI BEFORE SH. R.S. SYAL, VICE PRESIDENT AND SMT. BEENA A. PILLAI, JUDICIAL MEMBER ITA No. 1188/Del/2014 : Asstt. Year : 2008-09 Peethambra Granites (P) Ltd. Vs DCIT D-236B, 2nd Floor Circle-14(1) Sarvodaya Enclave New Delhi New Delhi PAN : AAACP0955A (APPELLANT) (RESPONDENT) Assessee by : Sh. R.K.Talwar, Adv. Revenue by : Sh. Ravi Kant Gupta, Sr. DR Date of Hearing : Date of Pronouncement : 08/08/2018 10/08/2018 ORDER Per Beena A. Pillai, Judical Member Present appeal has been filed by assessee against order dated 26/12/2013 passed by Ld. CIT (A…

Opus Reality Development Ltd., Delhi vs. ACIT, New Delhi

In the result, appeal is allowed

ITA 225/DEL/2014[2009-10]Status: DisposedITAT Delhi09 Jun 2016AY 2009-10

Bench: Shri G. D. Agrawal & Smt Suchitra Kamblei.T.A .No.-225/Del/2014 (Assessment Year-2009-10) Opus Reality Development Ltd. Vs Acit Circle-13(1) 404, Roots Tower, New Delhi District Centre, Laxmi Nagar (Respondent) Delhi Aaaco9775H (Appellant)

Section 143(3)Section 14ASection 153(3)Section 154Section 71Section 71(2)

…loss against his income which is assessable for that assessment year under any other head including income assessable under the head ‘Capital gains’. The Ld. AR relied upon the order of the ITAT, Pune Bench in case of Coated Fabrics (P.) Ltd. Vs. JCIT (2006) 101 ITD 297 (Pune) before the CIT (A) submitting that the said order is squarely covering the issue before hand. The ITAT held as under: 2. We have looked into the legal aspect of this issue and have found that as far as the language of Section 71(2) is concerned, there is no sequence prescribed for set off of loss under a particular head of income. For rea…

Coated Fabrics (P.) Ltd. v. JCIT (101 ITD 297) — Cited in 3 Judgments | BharatTax