Commissioner of Income-Tax, Bombay City v. Bipinchandra Maganlal & Co. Ltd.

41 ITR 290Supreme Court of India1961#17880 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 341,001 Indian tax judgments — from 2003 to 2022.

Judgments citing Commissioner of Income-Tax, Bombay City v. Bipinchandra Maganlal & Co. Ltd.

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)

…ncern in a commercial sense. Hence, this ground of appeal is allowed.” 41. On appraisal of the above said finding, we noticed that the CIT(A) has decided the matter of controversy on the basis of decision in the case of CIT Vs. Bipin Chandra Magan Lal (1961) 41 ITR 290 (SC). Moreover, we also noticed that this issue has been covered in favour of the assessee in the assessee‟s own case for the A.Y. 2002-03 in ITA. No.7987/M/2007. By honoring the order passed by the Hon‟ble ITAT in the assessee‟s own case (supra), we are of the view that the CIT(A) has decided the matter of controversy judiciously and correctly wh…

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)

…ncern in a commercial sense. Hence, this ground of appeal is allowed.” 41. On appraisal of the above said finding, we noticed that the CIT(A) has decided the matter of controversy on the basis of decision in the case of CIT Vs. Bipin Chandra Magan Lal (1961) 41 ITR 290 (SC). Moreover, we also noticed that this issue has been covered in favour of the assessee in the assessee‟s own case for the A.Y. 2002-03 in ITA. No.7987/M/2007. By honoring the order passed by the Hon‟ble ITAT in the assessee‟s own case (supra), we are of the view that the CIT(A) has decided the matter of controversy judiciously and correctly wh…

Commissioner of Income Tax vs. Ece Industries Ltd

ITA/417/2007HC Delhi24 Dec 2010

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE SURESH KUMAR KAIT

Section 50Section 50(2)

…ed as slump sale, the gain would be taxable as laid out by the Supreme Court in the case of Commissioner of Income-tax, Gujarat II v. B.M. Kharwar [72 ITR 603] and in the case of Commissioner of Income-Tax, Bombay City v. Bipinchandra Maganlal & Co. Ltd. [41 ITR 290]. 4. Aggrieved by the order of the CIT (A), the assessee filed an appeal before the Income Tax Appellate Tribunal (hereinafter referred to as „the Tribunal‟), who held that the transaction of sale of Sonepat Unit by the assessee was a transaction in the nature of slump sale of a going concern as a whole. Since the Sonepat unit was a capi…

Commissioner of Income Tax vs. ECE Industries Limited

ITA-417/2007HC Delhi24 Dec 2010
Section 50Section 50(2)

…ed as slump sale, the gain would be taxable as laid out by the Supreme Court in the case of Commissioner of Income-tax, Gujarat II v. B.M. Kharwar [72 ITR 603] and in the case of Commissioner of Income-Tax, Bombay City v. Bipinchandra Maganlal & Co. Ltd. [41 ITR 290]. 4. Aggrieved by the order of the CIT (A), the assessee filed an appeal before the Income Tax Appellate Tribunal (hereinafter referred to as „the Tribunal‟), who held that the transaction of sale of Sonepat Unit by the assessee was a transaction in the nature of slump sale of a going concern as a whole. Since the Sonepat unit was a capi…

Delhi Farming & Construction(P) Ltd vs. Commnr. of Income Tax, Delhi

In the result, we set aside the judgment of the High Court and uphold the

C.A. No.-007525-007527 - 2001Supreme Court26 Mar 2003
For Respondent: COMMISSIONER OF INCOME TAX, DELHI
Section 104

…alcutta v. Asiatic Textiles Ltd, (1971) 82 ITR 816, while discussing a case under section 23 A of the 1922 Act, it is not open for the Income-tax Officer to constitute himself as a ’super-director’ in this regard. In CIT v. Bipinchandra Maganlal & Co., (1961) 41 ITR 290 this Court pointed out that the legislature has deliberately used the expression "smallness of profits" and not "smallness of the assessable income" and there is nothing in the context which would require equation of the expression "profit" with "assessable income". Smallness of the profit in section 23A has to be adjudged in the light of commerci…

Commissioner of Income-Tax, Bombay City v. Bipinchandra Maganlal & Co. Ltd. (41 ITR 290) — Cited in 5 Judgments | BharatTax