Commissioner of Income Tax v. Andhra Cotton Mills Limited

219 ITR 404High Court1996#19911 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2016 to 2024.

Sections most often in play

Section 115JB Section 14A Section 154 Section 250 Section 37(1)Section 43B(f)

Judgments citing Commissioner of Income Tax v. Andhra Cotton Mills Limited

Hindustan Petroleum Corp Ltd, Mumbai vs. DCIT 1(1)(2), Mumbai

ITA 3195/MUM/2019[2014-15]Status: DisposedITAT Mumbai16 Jan 2024AY 2014-15

Bench: us. 2.

For Appellant: Shri P.J. PardiwalaFor Respondent: Shri Biswanath Das

Section 143(3)Section 14ASection 14A(2)Section 154Section 250

…on acquiring capital assets; 7. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in considering the return filed u/s 139(5) as a valid return without considering the rulings in the cases of CIT versus Andhra Cotton Mills Ltd. 219 ITR 404 (AP) and Sunanda Ram Deka vs CIT 210 ITR 988 (Guwahati) relied upon by the AO; 8. On the facts and in the circumstances of case and in law, the Ld. CIT(A) erred in holding that loss accrued to the due to foreign exchange fluctuation in respect of external credit borrowings taken for acquisition of indigenous assets is a revenue loss.” 23.4. Durin…

Essel Mining & Industries Limited, Mumbai vs. Principal Commissioner of Income Tax-Central-1, Mumbai

In the result, appeal of the assessee is allowed

ITA 3202/MUM/2018[2009-10]Status: DisposedITAT Mumbai15 Nov 2022AY 2009-10

Section 127(2)Section 132Section 133ASection 143(3)Section 148Section 153CSection 263

…Income Tax Act, 1961, the alleged revised Return of Income has no locus standi, considering the statutory parameters prescribed in the relevant Section. The above view gathers support from the following judicial rulings, CIT v/s Andhra Cottons Mills Limited (219 ITR 404 (AP)) and Sunanda Ram Deka v/s CIT (210 ITR 988 (Gauhati)). In both these rulings, the Hon'ble High Courts have unequivocally and famously held that, “…. We find that under s. 139(5), a revised return could be filed if there is an omission or a wrong statement....” CIT v/s Andhra Cottons Mills Limited and "....For a valid revised return under s.…

The Principal Commissioner of Income Tax III, Bangalore vs. M/S Wipro Limited

C.A. No.-001449-001449 - 2022Supreme Court11 Jul 2022

Bench: HON'BLE MR. JUSTICE M.R. SHAH

Section 10BSection 139(1)Section 72

…sed return of income under Section 139(5) of the IT Act cannot be filed for altogether a new claim. Reliance is placed on the decision of the Andhra Pradesh High Court in the case of Commissioner of Income Tax v. Andhra Cotton Mills Limited, [1996] 219 ITR 404 (AP). That in the aforesaid decision, the Andhra Pradesh High Court has held that a revised return under Section 139(5) can be filed only if there is an omission or a wrong statement. That in the aforesaid case, the assessee in the original return filed the P&L account containing provision for depreciation and did not opt for the optio…

Mosbacher India Llc, Chennai vs. Addl. DIT, Chennai

In the result, the appeal is partly allowed in the terms indicated above

ITA 1085/CHNY/2015[2010-11]Status: DisposedITAT Chennai29 Nov 2016AY 2010-11

Section 143(3)Section 42(2)Section 42(2)(b)

…d that “there is no bonafide inadvertent mistake on the part of the assessee”. He also placed his reliance on the judicial precedents in the cases of Goetze India Ltd Vs CIT (284 ITR 323), Sunanda Ram Deka Vs CIT (210 ITR 988), CIT Vs Andhra Cotton Mills Ltd (219 ITR 404) and Golden Installation & Engineering Ltd (305 ITR 427). As for taxability of transaction, the Assessing Officer observed as follows: I.T.A. No. 1085/CHNY/2015 Assessment year: 2010-11 Page 4 of 21 II. Further, the assessee's contention that the amount received by the assessee during the relevant previous year is taxable as capital gains u/s 4…