COMMISSIONER OF INCOME-TAX v. KUMAUN MANDAL VIKAS NIGAM LTD.

193 ITR 597Reported decision1992#23346 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 363,016 Indian tax judgments — from 2013 to 2017.

Judgments citing COMMISSIONER OF INCOME-TAX v. KUMAUN MANDAL VIKAS NIGAM LTD.

DCIT, New Delhi vs. M/S. Bokaro Power Supply Co. Ltd., New Delhi

In the result, appeal of the assessee is partly allowed whereas the appeal of the Revenue is dismissed

ITA 3692/DEL/2014[2010-11]Status: DisposedITAT Delhi31 Oct 2017AY 2010-11

Bench: Sh. Amit Shukla & Sh. O.P. Kantassessment Year: 2010-11 Vs. Dcit, Circle -3(1), New Delhi M/S. Bokaro Power Supply Co. Ltd., Ispat Bhavan, Lodhi Road, New Delhi Pan : Aabcb8976G (Appellant) (Respondent) & Assessment Year: 2010-11 Vs. M/S. Bokaro Power Supply Co. Dcit, Circle -3(1), New Delhi Ltd., 4Th Floor, Ispat Bhavan, Lodhi Road, New Delhi Pan : Aabcb8976G (Appellant) (Respondent) Assessee By Sh. M.P. Rastogi, Adv. & Sh. Anil Sharma, Agm Respondent By Sh. Sandip Kumar Mishra, Sr.Dr Date Of Hearing 11.10.2017 Date Of Pronouncement 31.10.2017 Order Per O.P. Kant, A.M.:

Section 143(2)Section 143(3)Section 43B

…the Hon’ble Supreme Court (Supra), where it was held that where the amount paid is partly penal and partly compensatory, the amount to the extent that is compensatory could be allowed as deduction & jurisdictional High Court in CIT Vs, Bharat Steel Tubes Ltd 193 ITR 597, that penalty for delayed payment of sales tax is not a deductible expenditure, addition to the extent of Rs.86,72,759/- is hereby sustained while additional payment of Sales Tax liability of Rs.35,45,033/- is hereby directed to be deleted. The appellant shall get part relief on this ground of appeal.” 6.1 Before us, the Ld. counsel of the asses…

Bokaro Power Supply Co. Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the assessee is partly allowed whereas the appeal of the Revenue is dismissed

ITA 3405/DEL/2014[2010-11]Status: DisposedITAT Delhi31 Oct 2017AY 2010-11

Bench: Sh. Amit Shukla & Sh. O.P. Kantassessment Year: 2010-11 Vs. Dcit, Circle -3(1), New Delhi M/S. Bokaro Power Supply Co. Ltd., Ispat Bhavan, Lodhi Road, New Delhi Pan : Aabcb8976G (Appellant) (Respondent) & Assessment Year: 2010-11 Vs. M/S. Bokaro Power Supply Co. Dcit, Circle -3(1), New Delhi Ltd., 4Th Floor, Ispat Bhavan, Lodhi Road, New Delhi Pan : Aabcb8976G (Appellant) (Respondent) Assessee By Sh. M.P. Rastogi, Adv. & Sh. Anil Sharma, Agm Respondent By Sh. Sandip Kumar Mishra, Sr.Dr Date Of Hearing 11.10.2017 Date Of Pronouncement 31.10.2017 Order Per O.P. Kant, A.M.:

Section 143(2)Section 143(3)Section 43B

…the Hon’ble Supreme Court (Supra), where it was held that where the amount paid is partly penal and partly compensatory, the amount to the extent that is compensatory could be allowed as deduction & jurisdictional High Court in CIT Vs, Bharat Steel Tubes Ltd 193 ITR 597, that penalty for delayed payment of sales tax is not a deductible expenditure, addition to the extent of Rs.86,72,759/- is hereby sustained while additional payment of Sales Tax liability of Rs.35,45,033/- is hereby directed to be deleted. The appellant shall get part relief on this ground of appeal.” 6.1 Before us, the Ld. counsel of the asses…

Commissioner of Income Tax vs. M/S.Wintac Ltd

The appeal is allowed in part

ITA/910/2006HC Karnataka19 Sept 2013

Bench: B.MANOHAR,DILIP B.BHOSALE

Section 115JSection 143(2)Section 260ASection 271(1)(c)

…n-trade has been properly valued or not is purely a question of fact, and question of law does not arise. He relied upon the judgments reported in (1990) 186 ITR 407 in the case of COMMISSIONER OF INCOME-TAX v/s KUMAUN MANDAL VIKAS NIGAM LTD. and (1992) 193 ITR 597 in the case of COMMISSIONER OF INCOME-TAX v/s BHARAT STEEL TUBES LTD.. The Appellate Tribunal taking into consideration all these aspects of the matter accepted the contention of the assessee and deleted the value of closing stock as NIL. There is no infirmity in the said finding. 21 The records clearly disclose that the asse…