Commissioner of Income Tax v. Elys Plastics

188 ITR 11High Court1991#11216 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2021.

Judgments citing Commissioner of Income Tax v. Elys Plastics

Hyundai Construction Equipment India Pvt.Ltd, Pune vs. Assistant Commissioner of Income-Tax, Circle - 9, Pune

In the result, the appeal is partly allowed

ITA 1766/PUN/2018[2014-15]Status: DisposedITAT Pune06 Dec 2021AY 2014-15

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhuryआयकर अपील सं. / Ita No.1766/Pun/2018 िनधा"रण वष" / Assessment Year : 2014-15 Hyundai Construction Equipment India Vs. Acit, Private Limited, Circle-9, Plot No.A/2, Chakan, Midc, Pune Phase Ii, Khalumbre, Chakan-Talegaon Road, Chakan, Taluka Khed, Pune 410 501 Pan : Aabch8756Q Appellant Respondent

Section 143(3)

…e is placed on the following decisions : -DCIT Vs. Reliance Industries Ltd. (2003) 88 ITD 273 (Mum) (SB) -Income Tax Officer Vs. The Thermodors Pvt. Ltd. (Unreported) -CIT Vs. P.J. Chemicals Ltd. (1994) 210 ITR 830 (SC) -CIT Vs. Elys Plastics Pvt. Ltd. (1991) 188 ITR 11 (Bom.) -CIT Vs. Tirumala Bricks and Tiles Factory (1996) 217 ITR 547 (AP) -CBDT Circular No.142 dated 1 August 1974 However, the Company for the purpose of its tax computation has offered the same to tax as a revenue receipt. The Company reserves its right to claim the above amount as capital receipt 5 Hyundai Construction Equipment India Pvt. Lt…

DCIT Circle - 1, Thane vs. Konkan Irrigation Development Corporation, Thane

In the result, the Revenue’s appeals are dismissed

ITA 2276/MUM/2016[2008-09]Status: DisposedITAT Mumbai07 Sept 2018AY 2008-09

Bench: Shri Shamim Yahya, Am & Shri Pawan Sing, Jm

For Appellant: Shri S. PadmajaFor Respondent: Shri Sudhir Dabir
Section 271(1)(c)Section 31Section 43(1)

…it is a capital contribution (Anshdaan) towards the Corporation fund. The ld. Counsel of the assessee has also relied upon following judicial pronouncements claiming that provisions of section 43(1) is not applicable to the assessee's case. 188 ITR 22(MAD) 188 ITR 11 (BOM) 215 ITR 834 (MAD) 234 ITR 53 (MAD) , 210 ITR 830(SC) :. ITA N0.5/NAG/2002- ITAT MUMBAI BENCH 'A') ITA NO.101 &102/NAG/2006- ITAT NAGPUR BENCH ) ITA N0.222 & 223/NAG/2007- ITAT NAGPUR BENCH) 7. During the course of assessment proceedings, the ld. Counsel of the assessee had also claimed that during the year projects costing Rs. 956.42 crores…

The Commissioner of Income Tax vs. M/S Vardhman Industries Ltd

Appeals are partly allowed, in view of the

ITA/708/2004HC Delhi13 Jul 2017

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 221Section 4

…. During the course of assessment proceedings, the assessee also relied on decisions of the Andhra Pradesh High Court (in Commissioner of Income Tax v Godavari Plywoods 168 ITR 632); Bombay High Court (in Commissioner of Income Tax v Elys Plastics (1991)188 ITR 11) and the decision reported as Commissioner of Income Tax v P.J. Chemicals 210 ITR 830 (SC). However, the assessee’s claim was not found accepted by the AO. In the order, the Assessing Officer (AO) made these observations:- “(a) There is no doubt, that the amount of Rs.7,27,71,570/- represents the income of the assessee company. This issu…

Commissioner of Income Tax Delhi vs. M/S Bhushan Steels & Strips Ltd

Appeals are partly allowed, in view of the

ITA/317/2003HC Delhi13 Jul 2017

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 221Section 4

…. During the course of assessment proceedings, the assessee also relied on decisions of the Andhra Pradesh High Court (in Commissioner of Income Tax v Godavari Plywoods 168 ITR 632); Bombay High Court (in Commissioner of Income Tax v Elys Plastics (1991)188 ITR 11) and the decision reported as Commissioner of Income Tax v P.J. Chemicals 210 ITR 830 (SC). However, the assessee’s claim was not found accepted by the AO. In the order, the Assessing Officer (AO) made these observations:- “(a) There is no doubt, that the amount of Rs.7,27,71,570/- represents the income of the assessee company. This issu…

The Commissioner of the Income vs. M/S Vardhman Industries Ltd

Appeals are partly allowed, in view of the

ITA/725/2004HC Delhi13 Jul 2017

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 221Section 4

…. During the course of assessment proceedings, the assessee also relied on decisions of the Andhra Pradesh High Court (in Commissioner of Income Tax v Godavari Plywoods 168 ITR 632); Bombay High Court (in Commissioner of Income Tax v Elys Plastics (1991)188 ITR 11) and the decision reported as Commissioner of Income Tax v P.J. Chemicals 210 ITR 830 (SC). However, the assessee’s claim was not found accepted by the AO. In the order, the Assessing Officer (AO) made these observations:- “(a) There is no doubt, that the amount of Rs.7,27,71,570/- represents the income of the assessee company. This issu…

Commissioner of Income Tax Delhi vs. M/S Bhushan Steels & Strips Ltd

Appeals are partly allowed, in view of the

ITA/434/2005HC Delhi13 Jul 2017

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 221Section 4

…. During the course of assessment proceedings, the assessee also relied on decisions of the Andhra Pradesh High Court (in Commissioner of Income Tax v Godavari Plywoods 168 ITR 632); Bombay High Court (in Commissioner of Income Tax v Elys Plastics (1991)188 ITR 11) and the decision reported as Commissioner of Income Tax v P.J. Chemicals 210 ITR 830 (SC). However, the assessee’s claim was not found accepted by the AO. In the order, the Assessing Officer (AO) made these observations:- “(a) There is no doubt, that the amount of Rs.7,27,71,570/- represents the income of the assessee company. This issu…

Commissioner of Income Tax Delhi vs. M/S Bhushan Steels & Strips Ltd

Appeals are partly allowed, in view of the

ITA/316/2003HC Delhi13 Jul 2017

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 221Section 4

…. During the course of assessment proceedings, the assessee also relied on decisions of the Andhra Pradesh High Court (in Commissioner of Income Tax v Godavari Plywoods 168 ITR 632); Bombay High Court (in Commissioner of Income Tax v Elys Plastics (1991)188 ITR 11) and the decision reported as Commissioner of Income Tax v P.J. Chemicals 210 ITR 830 (SC). However, the assessee’s claim was not found accepted by the AO. In the order, the Assessing Officer (AO) made these observations:- “(a) There is no doubt, that the amount of Rs.7,27,71,570/- represents the income of the assessee company. This issu…

Commissioner of Income Tax Delhi vs. M/S Bhushan Steels & Strips Ltd

Appeals are partly allowed, in view of the

ITA/315/2003HC Delhi13 Jul 2017

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 221Section 4

…. During the course of assessment proceedings, the assessee also relied on decisions of the Andhra Pradesh High Court (in Commissioner of Income Tax v Godavari Plywoods 168 ITR 632); Bombay High Court (in Commissioner of Income Tax v Elys Plastics (1991)188 ITR 11) and the decision reported as Commissioner of Income Tax v P.J. Chemicals 210 ITR 830 (SC). However, the assessee’s claim was not found accepted by the AO. In the order, the Assessing Officer (AO) made these observations:- “(a) There is no doubt, that the amount of Rs.7,27,71,570/- represents the income of the assessee company. This issu…

Commissioner of Income Tax vs. Sri P.Sarveswara Rao

ITTA/434/2005HC Telangana14 Mar 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY