Commissioner of Income Tax v. Tamilnadu Industrial Investment Corporation Ltd.

394 ITR 255High Court2017#12733 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 341,001 Indian tax judgments — from 2022 to 2024.

Issues it is cited on

section 269uasection 2(47)(v)section 53asection 53section 35dsection 2(47)section 10(34)section 269section 45section 35section 30mercantile system of accounting

Judgments citing Commissioner of Income Tax v. Tamilnadu Industrial Investment Corporation Ltd.

Electronics Corporation of Tamilnadu Ltd., Chennai vs. DCIT Corporate Circle 2(1), Chennai

In the result, appeal filed by the assessee for assessment year 2013-14 is partly allowed for statistical purposes

ITA 2437/CHNY/2017[2013-14]Status: DisposedITAT Chennai21 Feb 2024AY 2013-14

Bench: Shri Manjunatha. G, Hon’Ble & Shri Manomohan Das, Hon’Bleआयकरअपीलसं./Ita Nos.: 2431, 2432, 2433, 2434, 2435, 2436 & 2437/Chny/2017 िनधा"रणवष" / Assessment Years: 2006-07, 2006-07, 2007-08, 2008-09, 2011-12, 2012-13 & 2013-14 M/S. Electronics Corporation Of The Deputy Commissioner Of Tamilnadu Ltd., V. Income Tax, No. 692, Mhu Complex, Corporate Circle -2(1), Anna Salai, Nandanam, Chennai. Chennai – 600 035. [Pan: Aaace-1670-K] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. S. Sridhar, Advocate अपीलाथ"क"ओरसे/Appellant By ""यथ"क"ओरसे/Respondent By : Shri. P. Sajit Kumar, Jcit सुनवाई क" तारीख/Date Of Hearing : 04.01.2024 घोषणा क" तारीख/Date Of Pronouncement : 21.02.2024

For Respondent: Shri. P. Sajit Kumar, JCIT
Section 143(3)Section 14A

…आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद"य एवं "ी मनोमोहन दास, "याियक सद"य के सम" BEFORE SHRI MANJUNATHA. G, HON’BLE ACCOUNTANT MEMBER AND SHRI MANOMOHAN DAS, HON’BLE JUDICIAL MEMBER आयकरअपीलसं./ITA Nos.: 2431, 2432, 2433, 2434, 2435, 2436 & 2437/Chny/2017 िनधा"रणवष" / Assessment Years: 2006-07, 2006-07, 2007-08, 2008-09, 2011-12, 2012-13 & 2013-14 M/s. Electronics Corporation of The Deputy Commissioner of Tamilnadu Ltd., v. Income Tax, No. 692, MHU Complex, Corporate Circle -2(1), Anna Salai, Nandanam, Chennai. Chennai – 600 035. [PAN…

Electronics Corporation of Tamilnadu Ltd., Chennai vs. DCIT Corporate Circle 2(1), Chennai

In the result, appeal filed by the assessee for assessment year 2013-14 is partly allowed for statistical purposes

ITA 2436/CHNY/2017[2012-13]Status: DisposedITAT Chennai21 Feb 2024AY 2012-13

Bench: Shri Manjunatha. G, Hon’Ble & Shri Manomohan Das, Hon’Bleआयकरअपीलसं./Ita Nos.: 2431, 2432, 2433, 2434, 2435, 2436 & 2437/Chny/2017 िनधा"रणवष" / Assessment Years: 2006-07, 2006-07, 2007-08, 2008-09, 2011-12, 2012-13 & 2013-14 M/S. Electronics Corporation Of The Deputy Commissioner Of Tamilnadu Ltd., V. Income Tax, No. 692, Mhu Complex, Corporate Circle -2(1), Anna Salai, Nandanam, Chennai. Chennai – 600 035. [Pan: Aaace-1670-K] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. S. Sridhar, Advocate अपीलाथ"क"ओरसे/Appellant By ""यथ"क"ओरसे/Respondent By : Shri. P. Sajit Kumar, Jcit सुनवाई क" तारीख/Date Of Hearing : 04.01.2024 घोषणा क" तारीख/Date Of Pronouncement : 21.02.2024

For Respondent: Shri. P. Sajit Kumar, JCIT
Section 143(3)Section 14A

…आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद"य एवं "ी मनोमोहन दास, "याियक सद"य के सम" BEFORE SHRI MANJUNATHA. G, HON’BLE ACCOUNTANT MEMBER AND SHRI MANOMOHAN DAS, HON’BLE JUDICIAL MEMBER आयकरअपीलसं./ITA Nos.: 2431, 2432, 2433, 2434, 2435, 2436 & 2437/Chny/2017 िनधा"रणवष" / Assessment Years: 2006-07, 2006-07, 2007-08, 2008-09, 2011-12, 2012-13 & 2013-14 M/s. Electronics Corporation of The Deputy Commissioner of Tamilnadu Ltd., v. Income Tax, No. 692, MHU Complex, Corporate Circle -2(1), Anna Salai, Nandanam, Chennai. Chennai – 600 035. [PAN…

Electronics Corporation of Tamilnadu Ltd., Chennai vs. DCIT Corporate Circle 2(1), Chennai

In the result, appeal filed by the assessee for assessment year 2013-14 is partly allowed for statistical purposes

ITA 2435/CHNY/2017[2011-12]Status: DisposedITAT Chennai21 Feb 2024AY 2011-12

Bench: Shri Manjunatha. G, Hon’Ble & Shri Manomohan Das, Hon’Bleआयकरअपीलसं./Ita Nos.: 2431, 2432, 2433, 2434, 2435, 2436 & 2437/Chny/2017 िनधा"रणवष" / Assessment Years: 2006-07, 2006-07, 2007-08, 2008-09, 2011-12, 2012-13 & 2013-14 M/S. Electronics Corporation Of The Deputy Commissioner Of Tamilnadu Ltd., V. Income Tax, No. 692, Mhu Complex, Corporate Circle -2(1), Anna Salai, Nandanam, Chennai. Chennai – 600 035. [Pan: Aaace-1670-K] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. S. Sridhar, Advocate अपीलाथ"क"ओरसे/Appellant By ""यथ"क"ओरसे/Respondent By : Shri. P. Sajit Kumar, Jcit सुनवाई क" तारीख/Date Of Hearing : 04.01.2024 घोषणा क" तारीख/Date Of Pronouncement : 21.02.2024

For Respondent: Shri. P. Sajit Kumar, JCIT
Section 143(3)Section 14A

…आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद"य एवं "ी मनोमोहन दास, "याियक सद"य के सम" BEFORE SHRI MANJUNATHA. G, HON’BLE ACCOUNTANT MEMBER AND SHRI MANOMOHAN DAS, HON’BLE JUDICIAL MEMBER आयकरअपीलसं./ITA Nos.: 2431, 2432, 2433, 2434, 2435, 2436 & 2437/Chny/2017 िनधा"रणवष" / Assessment Years: 2006-07, 2006-07, 2007-08, 2008-09, 2011-12, 2012-13 & 2013-14 M/s. Electronics Corporation of The Deputy Commissioner of Tamilnadu Ltd., v. Income Tax, No. 692, MHU Complex, Corporate Circle -2(1), Anna Salai, Nandanam, Chennai. Chennai – 600 035. [PAN…

Electronics Corporation of Tamilnadu Ltd., Chennai vs. DCIT Corporate Circle 2(1), Chennai

In the result, appeal filed by the assessee for assessment year 2013-14 is partly allowed for statistical purposes

ITA 2434/CHNY/2017[2008-09]Status: DisposedITAT Chennai21 Feb 2024AY 2008-09

Bench: Shri Manjunatha. G, Hon’Ble & Shri Manomohan Das, Hon’Bleआयकरअपीलसं./Ita Nos.: 2431, 2432, 2433, 2434, 2435, 2436 & 2437/Chny/2017 िनधा"रणवष" / Assessment Years: 2006-07, 2006-07, 2007-08, 2008-09, 2011-12, 2012-13 & 2013-14 M/S. Electronics Corporation Of The Deputy Commissioner Of Tamilnadu Ltd., V. Income Tax, No. 692, Mhu Complex, Corporate Circle -2(1), Anna Salai, Nandanam, Chennai. Chennai – 600 035. [Pan: Aaace-1670-K] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. S. Sridhar, Advocate अपीलाथ"क"ओरसे/Appellant By ""यथ"क"ओरसे/Respondent By : Shri. P. Sajit Kumar, Jcit सुनवाई क" तारीख/Date Of Hearing : 04.01.2024 घोषणा क" तारीख/Date Of Pronouncement : 21.02.2024

For Respondent: Shri. P. Sajit Kumar, JCIT
Section 143(3)Section 14A

…आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद"य एवं "ी मनोमोहन दास, "याियक सद"य के सम" BEFORE SHRI MANJUNATHA. G, HON’BLE ACCOUNTANT MEMBER AND SHRI MANOMOHAN DAS, HON’BLE JUDICIAL MEMBER आयकरअपीलसं./ITA Nos.: 2431, 2432, 2433, 2434, 2435, 2436 & 2437/Chny/2017 िनधा"रणवष" / Assessment Years: 2006-07, 2006-07, 2007-08, 2008-09, 2011-12, 2012-13 & 2013-14 M/s. Electronics Corporation of The Deputy Commissioner of Tamilnadu Ltd., v. Income Tax, No. 692, MHU Complex, Corporate Circle -2(1), Anna Salai, Nandanam, Chennai. Chennai – 600 035. [PAN…

Electronics Corporation of Tamilnadu Ltd., Chennai vs. DCIT Corporate Circle 2(1), Chennai

In the result, appeal filed by the assessee for assessment year 2013-14 is partly allowed for statistical purposes

ITA 2433/CHNY/2017[2007-08]Status: DisposedITAT Chennai21 Feb 2024AY 2007-08

Bench: Shri Manjunatha. G, Hon’Ble & Shri Manomohan Das, Hon’Bleआयकरअपीलसं./Ita Nos.: 2431, 2432, 2433, 2434, 2435, 2436 & 2437/Chny/2017 िनधा"रणवष" / Assessment Years: 2006-07, 2006-07, 2007-08, 2008-09, 2011-12, 2012-13 & 2013-14 M/S. Electronics Corporation Of The Deputy Commissioner Of Tamilnadu Ltd., V. Income Tax, No. 692, Mhu Complex, Corporate Circle -2(1), Anna Salai, Nandanam, Chennai. Chennai – 600 035. [Pan: Aaace-1670-K] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. S. Sridhar, Advocate अपीलाथ"क"ओरसे/Appellant By ""यथ"क"ओरसे/Respondent By : Shri. P. Sajit Kumar, Jcit सुनवाई क" तारीख/Date Of Hearing : 04.01.2024 घोषणा क" तारीख/Date Of Pronouncement : 21.02.2024

For Respondent: Shri. P. Sajit Kumar, JCIT
Section 143(3)Section 14A

…आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद"य एवं "ी मनोमोहन दास, "याियक सद"य के सम" BEFORE SHRI MANJUNATHA. G, HON’BLE ACCOUNTANT MEMBER AND SHRI MANOMOHAN DAS, HON’BLE JUDICIAL MEMBER आयकरअपीलसं./ITA Nos.: 2431, 2432, 2433, 2434, 2435, 2436 & 2437/Chny/2017 िनधा"रणवष" / Assessment Years: 2006-07, 2006-07, 2007-08, 2008-09, 2011-12, 2012-13 & 2013-14 M/s. Electronics Corporation of The Deputy Commissioner of Tamilnadu Ltd., v. Income Tax, No. 692, MHU Complex, Corporate Circle -2(1), Anna Salai, Nandanam, Chennai. Chennai – 600 035. [PAN…

Electronics Corporation of Tamilnadu Ltd., Chennai vs. DCIT Corporate Circle 2(1), Chennai

In the result, appeal filed by the assessee for assessment year 2013-14 is partly allowed for statistical purposes

ITA 2432/CHNY/2017[2006-07]Status: DisposedITAT Chennai21 Feb 2024AY 2006-07

Bench: Shri Manjunatha. G, Hon’Ble & Shri Manomohan Das, Hon’Bleआयकरअपीलसं./Ita Nos.: 2431, 2432, 2433, 2434, 2435, 2436 & 2437/Chny/2017 िनधा"रणवष" / Assessment Years: 2006-07, 2006-07, 2007-08, 2008-09, 2011-12, 2012-13 & 2013-14 M/S. Electronics Corporation Of The Deputy Commissioner Of Tamilnadu Ltd., V. Income Tax, No. 692, Mhu Complex, Corporate Circle -2(1), Anna Salai, Nandanam, Chennai. Chennai – 600 035. [Pan: Aaace-1670-K] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. S. Sridhar, Advocate अपीलाथ"क"ओरसे/Appellant By ""यथ"क"ओरसे/Respondent By : Shri. P. Sajit Kumar, Jcit सुनवाई क" तारीख/Date Of Hearing : 04.01.2024 घोषणा क" तारीख/Date Of Pronouncement : 21.02.2024

For Respondent: Shri. P. Sajit Kumar, JCIT
Section 143(3)Section 14A

…आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद"य एवं "ी मनोमोहन दास, "याियक सद"य के सम" BEFORE SHRI MANJUNATHA. G, HON’BLE ACCOUNTANT MEMBER AND SHRI MANOMOHAN DAS, HON’BLE JUDICIAL MEMBER आयकरअपीलसं./ITA Nos.: 2431, 2432, 2433, 2434, 2435, 2436 & 2437/Chny/2017 िनधा"रणवष" / Assessment Years: 2006-07, 2006-07, 2007-08, 2008-09, 2011-12, 2012-13 & 2013-14 M/s. Electronics Corporation of The Deputy Commissioner of Tamilnadu Ltd., v. Income Tax, No. 692, MHU Complex, Corporate Circle -2(1), Anna Salai, Nandanam, Chennai. Chennai – 600 035. [PAN…

M/S Electronics Corporation of Tamilnadu Ltd, Nandanam vs. DCIT Corporate Circle - 2 [1], Chennai

In the result, appeal filed by the assessee for assessment year 2013-14 is partly allowed for statistical purposes

ITA 2431/CHNY/2017[2006-07]Status: DisposedITAT Chennai21 Feb 2024AY 2006-07

Bench: Shri Manjunatha. G, Hon’Ble & Shri Manomohan Das, Hon’Bleआयकरअपीलसं./Ita Nos.: 2431, 2432, 2433, 2434, 2435, 2436 & 2437/Chny/2017 िनधा"रणवष" / Assessment Years: 2006-07, 2006-07, 2007-08, 2008-09, 2011-12, 2012-13 & 2013-14 M/S. Electronics Corporation Of The Deputy Commissioner Of Tamilnadu Ltd., V. Income Tax, No. 692, Mhu Complex, Corporate Circle -2(1), Anna Salai, Nandanam, Chennai. Chennai – 600 035. [Pan: Aaace-1670-K] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. S. Sridhar, Advocate अपीलाथ"क"ओरसे/Appellant By ""यथ"क"ओरसे/Respondent By : Shri. P. Sajit Kumar, Jcit सुनवाई क" तारीख/Date Of Hearing : 04.01.2024 घोषणा क" तारीख/Date Of Pronouncement : 21.02.2024

For Respondent: Shri. P. Sajit Kumar, JCIT
Section 143(3)Section 14A

…आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी मंजुनाथा. जी, लेखा सद"य एवं "ी मनोमोहन दास, "याियक सद"य के सम" BEFORE SHRI MANJUNATHA. G, HON’BLE ACCOUNTANT MEMBER AND SHRI MANOMOHAN DAS, HON’BLE JUDICIAL MEMBER आयकरअपीलसं./ITA Nos.: 2431, 2432, 2433, 2434, 2435, 2436 & 2437/Chny/2017 िनधा"रणवष" / Assessment Years: 2006-07, 2006-07, 2007-08, 2008-09, 2011-12, 2012-13 & 2013-14 M/s. Electronics Corporation of The Deputy Commissioner of Tamilnadu Ltd., v. Income Tax, No. 692, MHU Complex, Corporate Circle -2(1), Anna Salai, Nandanam, Chennai. Chennai – 600 035. [PAN…

Seshasayee Paper and Boards Ltd., Erode vs. DCIT Namakkal Circle, Namakkal

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

ITA 2835/CHNY/2017[2003-04]Status: DisposedITAT Chennai22 Jul 2022AY 2003-04

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri P. Sajit Kumar, JCIT
Section 143(3)Section 243Section 244Section 244A

…para 8 above. He reiterated the submissions made before AO and CIT(A). He also relied on the Jurisdictional High Court decision in the case of Indian Commerce & Industries Co. (P) Ltd., vs. CIT 213 ITR 533, CIT vs. Tamilnadu Industrial Investment Corp. Ltd., 394 ITR 255 and Electronic Corporation of Tamilnadu Ltd., vs. DCIT, 417 ITR 283. 10. On the other hand, the ld. Senior DR Shri P. Sajit Kumar argued that the investments made in equity capital, non convertible debentures, zero coupon redeemable preference shares cannot be held as revenue for the reason that these are invested in equity capital and assessee h…