Commissioner of Income-tax v. Sri Jagannath Steel Corporation

191 ITR 676High Court1991#4144 most cited

What is Commissioner of Income-tax v. Sri Jagannath Steel Corporation authority for?

Sales tax for the last quarter of an assessment year, paid before the filing of the return, is deductible under Section 43B. Amendments to Section 43B introducing a proviso are considered clarificatory, curative, and explanatory, making them retrospective.

28

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2025.

Also referred to as

Commissioner of Income-tax v. Sri Jagannath Steel Corporation · 191 ITR 676 · Section 43B · sales tax deduction · retrospective amendment · clarificatory · curative · explanatory · last quarter payment

Sections most often in play

Section 194CSection 40(a)(ia)Section 1962Section 234BSection 234CSection 234DSection 254 of the Income Tax ActSection 271(1)(c)

Issues it is cited on

bright line testamp expenditurecomparable uncontrolled price methodsection 92(1)cost plus methodfunctional analysissection 80jjasection 80jjaasection 92c(3)section 92fmanagement feesbenchmarking analysis

Judgments citing Commissioner of Income-tax v. Sri Jagannath Steel Corporation

Income Tax Officer Ward-1 Exemptions, Bangalore vs. M/S Centre Fpr Cellular and Molecular Platforms, Bangalore

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

ITA 271/BANG/2018[2013-14]Status: DisposedITAT Bangalore28 Aug 2019AY 2013-14

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadaleassessment Year : 2013-14 M/S. Centre For Cellular & Molecular Platforms, The Income Tax Officer (E), Post Bag No. 6505, Ward -1 , Vs. G.K.V.K. P.O. Bangalore. Bellary Road, Bangalore – 560 065. Pan: Aadcc8572D Appellant Respondent Assessee By : Shri V. Srinivasan, Advocate Revenue By : Shri Ujjwal Kumar, Jcit (Dr) Date Of Hearing : 14.08.2019 Date Of Pronouncement : 28.08.2019

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri Ujjwal Kumar, JCIT (DR)
Section 11Section 12ASection 2

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Assessment Year : 2013-14 M/s. Centre for Cellular and Molecular Platforms, The Income Tax Officer (E), Post bag no. 6505, Ward -1 , Vs. G.K.V.K. P.O. Bangalore. Bellary Road, Bangalore – 560 065. PAN: AADCC8572D APPELLANT RESPONDENT Assessee by : Shri V. Srinivasan, Advocate Revenue by : Shri Ujjwal Kumar, JCIT (DR) Date of hearing : 14.08.2019 Date of Pronouncement : 28.08.2019 O R D E R Per Shri A.K. Garodia, Accountant Member This appeal is filed by the rev…

The Thaliparamba Co-Op Urbank Bank Ltd, Taliparamaba vs. The Pr.CIT, Kozhikkode

In the result, the appeal filed by the assessee is allowed

ITA 35/COCH/2018[2013-14]Status: DisposedITAT Cochin13 Mar 2019AY 2013-14

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

Section 143(3)Section 263Section 43D

…l to the interest of revenue. Before the CIT, the Ld. AR relied on decisions rendered in the cases of Allied Motors P. Ltd., vs.CIT (1997) 139 CTR 0364(SC); CIT vs.Chandulal Venichand (1994) 209 ITR 7(Guj) and CIT vs. Sri Jagannath Steel Corporation (1991) 191 ITR 676(Cal.). The Ld. AR also stated that section 43D(a) was amended by the Finance Act, 2017 where co.op. banks have also been included for this deduction u/s.43D with effect from 01.04.2018. The CIT was of the view that the legislature had made it amply clear by stating that the provisions are retrospective. Therefore, considering the fact that this…

M/S. Lg Electronics India Pvt. Ltd., Gautam Buidh Nagar vs. ACIT, Noida

In the result, the appeal of the assessee in ITA No

ITA 953/DEL/2014[2009-10]Status: DisposedITAT Delhi15 Feb 2019AY 2009-10

Bench: Shri N. K. Billaiya & Ms. Suchitra Kamble[Assessment Year: 2009-10] Lg L.G Electronics India Pvt. Ltd. Vs. The A.C.I.T Vs. No.51, Udyog Vihar, Circle -3 Plot Surajpur Kasna Road Noida Greater Noida, Gautam Budh Nagar, Pan No. Aaacl 1745Q (Appellant) (Respondent)

Section 133ASection 144C

…tax for the last quarter paid before the filing of the return for the assessment year is deductable. This decision deals with assessment year 1984-85. The Calcutta High Court in the case of Commissioner of Income-tax v. Sri Jagannath Steel Corporation ([1991] 191 ITR 676), has taken a similar view holding that the statutory liability for sales-tax actually discharge after the expiry of accounting year in compliance with the relevant stature is entitled to deduction under Section 43B. The High Court has held the amendment to be clarificatory and, therefore, retrospective. The Gujarat High Court in the above case h…

Lg Electronics India Pvt. Ltd., Uttar Pradesh vs. ACIT, Noida

In the result, the appeal of the assessee in ITA No

ITA 6253/DEL/2012[2008-09]Status: DisposedITAT Delhi14 Jan 2019AY 2008-09

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble[A.Y 2008-09] L.G. Electronics India Pvt. Ltd Vs. The Asstt. C.I.T A-27, Mohan Co-Operative Industrial Circle - 3 Estate, Mathura Road Noida [U.P] New Delhi Pan : Aaacl 1745 Q [Appellant] [Respondent] Date Of Hearing : 13.12.2018 Date Of Pronouncement : 14.01.2019

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri H.K. Choudhary, CIT-DR
Section 10BSection 143(3)Section 144C(5)Section 80J

…1 IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘I-2’ BENCH, NEW DELHI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER [A.Y 2008-09] L.G. Electronics India Pvt. Ltd Vs. The Asstt. C.I.T A-27, Mohan Co-operative Industrial Circle - 3 Estate, Mathura Road Noida [U.P] New Delhi PAN : AAACL 1745 Q [Appellant] [Respondent] Date of Hearing : 13.12.2018 Date of Pronouncement : 14.01.2019 Assessee by : Shri Ajay Vohra, Sr. Adv Shri Neeraj Jain, Adv Shri Ramit Katyal, Adv Revenue by : Shri H.K. Choudhary, CIT-DR Smt. Namita Ramdev, CIT-DR ORDER PER N.K. BILLAIYA, ACCOUNT…

M/S. Ici India Limited, Kolkata vs. DCIT, Circle - 10, Kolkata

In the result, Revenue’s appeal is partly allowed

ITA 852/KOL/2007[2003-04]Status: DisposedITAT Kolkata10 Jun 2016AY 2003-04

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 143(3)

…205 / 224 677 the Supreme Court has held that the proviso which was inserted by the accounting Finance Act, 1987 should be given retrospective effect. Similar view was held earlier by the Calcutta High Court in the case of CIT vs. Jagannath Steel Corporation 191 ITR 676. In my view, the insertion made by the Finance Act, 1987 was remedial in nature, designed to eliminate unintended consequences which may cause undue hardship to the assessee. I find ITA No.2613/Kol/05,488/Kol/06, 1019 & 852/Kol/07 AYs 02-03 & 03-04 ACIT Cir-10 Kol. v. AKZO Novel India Ltd. Page 19 reinforcement from the decision of Madras High C…

DCIT, Circle - 10, Kolkata vs. M/S. Ici India Ltd., Kolkata

In the result, Revenue’s appeal is partly allowed

ITA 1019/KOL/2007[2003-04]Status: DisposedITAT Kolkata10 Jun 2016AY 2003-04

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 143(3)

…205 / 224 677 the Supreme Court has held that the proviso which was inserted by the accounting Finance Act, 1987 should be given retrospective effect. Similar view was held earlier by the Calcutta High Court in the case of CIT vs. Jagannath Steel Corporation 191 ITR 676. In my view, the insertion made by the Finance Act, 1987 was remedial in nature, designed to eliminate unintended consequences which may cause undue hardship to the assessee. I find ITA No.2613/Kol/05,488/Kol/06, 1019 & 852/Kol/07 AYs 02-03 & 03-04 ACIT Cir-10 Kol. v. AKZO Novel India Ltd. Page 19 reinforcement from the decision of Madras High C…

M/S. Ici India Limited, Kolkata vs. DCIT, Circle - 10, Kolkata

In the result, Revenue’s appeal is partly allowed

ITA 488/KOL/2006[2002-03]Status: DisposedITAT Kolkata10 Jun 2016AY 2002-03

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 143(3)

…205 / 224 677 the Supreme Court has held that the proviso which was inserted by the accounting Finance Act, 1987 should be given retrospective effect. Similar view was held earlier by the Calcutta High Court in the case of CIT vs. Jagannath Steel Corporation 191 ITR 676. In my view, the insertion made by the Finance Act, 1987 was remedial in nature, designed to eliminate unintended consequences which may cause undue hardship to the assessee. I find ITA No.2613/Kol/05,488/Kol/06, 1019 & 852/Kol/07 AYs 02-03 & 03-04 ACIT Cir-10 Kol. v. AKZO Novel India Ltd. Page 19 reinforcement from the decision of Madras High C…

ACIT, Circle - 10, Kolkata vs. M/S. Ici India Ltd., Kolkata

In the result, Revenue’s appeal is partly allowed

ITA 2613/KOL/2005[2002-03]Status: DisposedITAT Kolkata10 Jun 2016AY 2002-03

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 143(3)

…205 / 224 677 the Supreme Court has held that the proviso which was inserted by the accounting Finance Act, 1987 should be given retrospective effect. Similar view was held earlier by the Calcutta High Court in the case of CIT vs. Jagannath Steel Corporation 191 ITR 676. In my view, the insertion made by the Finance Act, 1987 was remedial in nature, designed to eliminate unintended consequences which may cause undue hardship to the assessee. I find ITA No.2613/Kol/05,488/Kol/06, 1019 & 852/Kol/07 AYs 02-03 & 03-04 ACIT Cir-10 Kol. v. AKZO Novel India Ltd. Page 19 reinforcement from the decision of Madras High C…