Commissioner of Income Tax v. Dresser Rand India Private Limited

Addl CIT RG 18(2), Mumbai vs. Metrpolitan Trading Co., Mumbai

Bench: the Hon'ble High Court" 3. When the Appeal was taken up for hearing none was present on behalf of the Assessee. On examining the issues raised in the appeal and the order passed by the CIT(A), we proceeded to adjudicate the

…directing the A.O. not to exclude 90% of sale tax refund from business profits for calculating the deduction u/s.80HHC without appreciating the fact that the judgement laid down by the Hon’ble Bombay High Court in the case of M/s.Dresser Rand India Pvt. Ltd. (323 ITR 429)(Bom) wherein it was held that 90% sale of sale tax refund should be excluded for computing business profit within the meaning of clause (baa) of explanation to section 80HHC of the Act for the purpose of computation of deduction u/s.80HHC of the I.T.Act. 2. On the facts and circumstances of the case and in law, the CIT(A) has erred in directing…

M/S. Kothari Trading Corporation, Mumbai vs. The ITO, WD-23(2)(6), (Erstwhil the Itc, WD-14(1)(1), Mumbai

…IN THE INCOME TAX APPELLATE TRIBUNAL "SMC" BENCH, MUMBAI SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER M/s Kothari Trading Corporation, 131/133, 2nd Floor, Sheikh Memon Street, Mumbai – 400002 [PAN: AADFK3135B] …………… Appellant Vs The ITO, Ward 23(2)(6), Mumbai, Earnest House, Nariman Point, Respondent ……………. Mumbai - 400021 Appearance For the Appellant/Assessee : None For the Respondent/Department : Shri Sridhar Govind Menon Date : 17.05.2023 Conclusion of hearing : 26.05.2023 Pronouncement of order O R D E R Per Rahul Chaudhary, Judicial Member: By way of the present appeal t…

Gelsules Exports, Mumbai vs. Asst CIT Cir 21(3), Mumbai

…the AO held that the excise duty refund of Rs.17,22,305/-could not be reduced from the direct cost while computing deduction under section 80HHC, that excise duty refund was an independent item of income as per the decision of Dresser Rand India Private Ltd (323 ITR 429)of the Hon’ble Bombay High Court. 3.Aggrieved by the order of the AO,the assessee preferred an appeal before the First Appellate Authority(FAA)and argued that facts of the case under consideration were distin - guishable from the facts of Dresser Rand India Private Ltd (supra).Besides it made elaborate submissions arguing that the excise duty ref…

DCIT 20(2), Mumbai vs. M.M. Internaitonal, Mumbai

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Joginder Singh () & Shri Ashwani Taneja ()

…Ld. CIT(A) has erred in placing reliance on the decision of Hon'ble Bombay High Court in the case of valiant Glass Works P Ltd (50 Taxmann 268) which involved CEN VAT incentive and ignoring the decision of Ho'ble Bombay High Court in the case of Dresser Rand (323 ITR 429) which has some facts as in the instant case." 2. The solitary issue raised by the Revenue is whether assessee would be eligible to claim the benefit of deduction u/s 80HHC on the amount of sales-tax refund received by it. 3. The brief background is that in set aside proceedings, the AO observed that sales tax set off cannot be said to be relate…

DCIT Cir. - 6(3), Mumbai vs. M/S. Metro Exporters P. Ltd., Mumbai

In the result, appeal filed by the assessee is allowed and the appeal of Revenue is partly allowed

Bench: Shri B.R. Baskaran & Shri Pawan Singh

…d. As regards fourth question is concerned, the Income Tax Appellate Tribunal has disallowed the claim of the assessee by following the decision of this Court in the case of Commissioner of Income Tax V/s. Dresser Rand India Private Limited reported in (2010) 323 ITR 429 (Bom). The dispute in the present case relates to the balance written back in respect of the expenditure incurred by the assessee. The Commissioner of Income Tax (Appeals) in his order has recorded a finding that in the facts of the present case, the balance written back in respect of the expenditure incurred amounting to Rs. 6,53,961/- is liable…

M/S. Metro Exporters Pvt. Ltd, Mumbai vs. The ACIT RG 6(3), Mumbai

In the result, appeal filed by the assessee is allowed and the appeal of Revenue is partly allowed

Bench: Shri B.R. Baskaran & Shri Pawan Singh

…d. As regards fourth question is concerned, the Income Tax Appellate Tribunal has disallowed the claim of the assessee by following the decision of this Court in the case of Commissioner of Income Tax V/s. Dresser Rand India Private Limited reported in (2010) 323 ITR 429 (Bom). The dispute in the present case relates to the balance written back in respect of the expenditure incurred by the assessee. The Commissioner of Income Tax (Appeals) in his order has recorded a finding that in the facts of the present case, the balance written back in respect of the expenditure incurred amounting to Rs. 6,53,961/- is liable…