Commissioner of Income-tax v. Williamson Financial Services and Ors.

297 ITR 17Supreme Court of India2008#6625 most cited

What is Commissioner of Income-tax v. Williamson Financial Services and Ors. authority for?

The principles applied in CIT v. Williamson Financial Services [2008] 297 ITR 17 (SC) are not applicable to the present cases as the former dealt with deductions under Section 80HHC, which is part of Chapter VI-A (special deductions), distinct from deductions under Sections 30 to 43D.

17

judgments rely on this decision, according to BharatTax’s citation analysis of 366,421 Indian tax judgments — from 2009 to 2026.

Also referred to as

CIT v Williamson Financial Services · 297 ITR 17 · Section 80HHC · Chapter VI-A · special deductions · Section 30 to 43D · gross total income · charge on profit · deduction allowed

Sections most often in play

Section 1961Section 143(3)Section 80HHCSection 10(1)Section 14ASection 28Section 29Section 30

Issues it is cited on

section 43dsection 10(5)section 32(2)section 80absection 10(1)section 43(6)opening wdvsection 80hhcsection 80hhsection 80cwritten down valuesection 80a

Judgments citing Commissioner of Income-tax v. Williamson Financial Services and Ors.

Deputy Commissioner of Income Tax, Guntur vs. Apoorva Sarovar, Kurnool

In the result, appeal of the Revenue is dismissed

ITA 181/VIZ/2025[2018-19]Status: DisposedITAT Visakhapatnam17 Apr 2026AY 2018-19

Bench: Shri Vijay Pal Rao & Shri Omkareshwar Chidaraआ.अपी.सं /Ita No.181/Viz./2025 Assessment Year 2018-2019 The Dcit, Apoorva Sarovar, Central Circle-2, Vs. Kurnool – 518 004. Guntur – 522 004. State Of Andhra Pradesh. State Of Andhra Pradesh. Pan Abefa4123B (Appellant) (Respondent) For Assessee : Sri C Subrahmanyam, Ca For Revenue : Sri Badicala Yadagiri, Cit-Dr Date Of Hearing : 18.03.2026 Date Of Pronouncement : 17.04.2026 आदेश/Order Per Vijay Pal Rao, V.P. :

For Appellant: Sri C Subrahmanyam, CAFor Respondent: Sri Badicala Yadagiri, CIT-DR
Section 133A

…IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM “DB” BENCH : VISAKHAPATNAM AT HYDERABAD BEFORE SHRI VIJAY PAL RAO, VICE PRESIDENT AND SHRI OMKARESHWAR CHIDARA, ACCOUNTANT MEMBER आ.अपी.सं /ITA No.181/VIZ./2025 Assessment Year 2018-2019 The DCIT, Apoorva Sarovar, Central Circle-2, vs. KURNOOL – 518 004. GUNTUR – 522 004. State of Andhra Pradesh. State of Andhra Pradesh. PAN ABEFA4123B (Appellant) (Respondent) For Assessee : Sri C Subrahmanyam, CA For Revenue : Sri Badicala Yadagiri, CIT-DR Date of Hearing : 18.03.2026 Date of Pronouncement : 17.04.2026 आदेश/ORDER PER VIJAY PAL RAO, V.P. : This appeal by the…

Prasidh Fincap Ltd., New Delhi vs. DCIT Circle-20(1), New Delhi

In the result, all the appeals of the assessee are allowed

ITA 1534/DEL/2022[2014-15]Status: DisposedITAT Delhi22 Oct 2024AY 2014-15

Bench: Shri M. Balaganesh & Shri Vimal Kumarprasidh Fincap Ltd, Vs. Dcit, 2Nd Floor, Rsn Arcade, 6 Circle-20(1), Lsc, Near Peince New Delhi Apartment, Ip Extension, Parparganj, New Delhi (Appellant) (Respondent) Pan:Aaacp6704D

For Appellant: Shri I. P. Bansal, AdvFor Respondent: Shri Rajesh Dhanesta, Sr. DR
Section 143(3)Section 32

…to be taken into account because that is the depreciation "actually allowed". Hence we find no merit in the civil appeals filed by the Department. 17. Before concluding, we may state that the judgment of this Court in CIT v Willamson Financial Services [2008] 297 ITR 17, has no application to the present cases. Willamson Financial Services' case (supra) was rendered in the context of deduction under section 80HHC of the 1961 Act Section 80HHC comes under Chapter VI-A. Chapter VI-A refers to special deductions. It is a separate Code by itself. There is a distinction between "deductions/allowances in section 30 to…

Prasidh Fincap Ltd, New Delhi vs. ITO, Ward-20(1), New Delhi

In the result, all the appeals of the assessee are allowed

ITA 7966/DEL/2018[2013-14]Status: DisposedITAT Delhi22 Oct 2024AY 2013-14

Bench: Shri M. Balaganesh & Shri Vimal Kumarprasidh Fincap Ltd, Vs. Dcit, 2Nd Floor, Rsn Arcade, 6 Circle-20(1), Lsc, Near Peince New Delhi Apartment, Ip Extension, Parparganj, New Delhi (Appellant) (Respondent) Pan:Aaacp6704D

For Appellant: Shri I. P. Bansal, AdvFor Respondent: Shri Rajesh Dhanesta, Sr. DR
Section 143(3)Section 32

…to be taken into account because that is the depreciation "actually allowed". Hence we find no merit in the civil appeals filed by the Department. 17. Before concluding, we may state that the judgment of this Court in CIT v Willamson Financial Services [2008] 297 ITR 17, has no application to the present cases. Willamson Financial Services' case (supra) was rendered in the context of deduction under section 80HHC of the 1961 Act Section 80HHC comes under Chapter VI-A. Chapter VI-A refers to special deductions. It is a separate Code by itself. There is a distinction between "deductions/allowances in section 30 to…

Prasidh Fincap Ltd, New Delhi vs. ITO, Ward-20(2), New Delhi

In the result, all the appeals of the assessee are allowed

ITA 7965/DEL/2018[2012-13]Status: DisposedITAT Delhi22 Oct 2024AY 2012-13

Bench: Shri M. Balaganesh & Shri Vimal Kumarprasidh Fincap Ltd, Vs. Dcit, 2Nd Floor, Rsn Arcade, 6 Circle-20(1), Lsc, Near Peince New Delhi Apartment, Ip Extension, Parparganj, New Delhi (Appellant) (Respondent) Pan:Aaacp6704D

For Appellant: Shri I. P. Bansal, AdvFor Respondent: Shri Rajesh Dhanesta, Sr. DR
Section 143(3)Section 32

…to be taken into account because that is the depreciation "actually allowed". Hence we find no merit in the civil appeals filed by the Department. 17. Before concluding, we may state that the judgment of this Court in CIT v Willamson Financial Services [2008] 297 ITR 17, has no application to the present cases. Willamson Financial Services' case (supra) was rendered in the context of deduction under section 80HHC of the 1961 Act Section 80HHC comes under Chapter VI-A. Chapter VI-A refers to special deductions. It is a separate Code by itself. There is a distinction between "deductions/allowances in section 30 to…

ACIT, New Delhi vs. M/S. Mmtc Ltd., New Delhi

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

ITA 3290/DEL/2010[2003-04]Status: DisposedITAT Delhi30 Jan 2024AY 2003-04

Bench: Shri N.K. Billaiya & Ms Astha Chandra

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri Subhra Jyoti Chakraborty, CIR-DR
Section 2Section 80ASection 80B(5)Section 80CSection 80H

…nt case the issue pertains to the question of set off of deduction computed in terms of section 80HHC (3)(c) of the Act in arriving as the total income. Ld. Counsel relied for judgment of Hon’ble Supreme Court of India in CIT vs. Williamson Financial Services 297 ITR 17 and Bombay High Court in V. M. Salgaoncar Sales International vs. ACIT : 281 CTR 191. 26. Ld. Counsel relied judgment of Hon’ble Supreme Court of India in Commissioner of Income Tax v. Reliance Energy Ltd (2021) 127 taxmann.com 69 to draw an analogy, where in regard to section 80IA it is held that the scope of sub section 5 of section 80IA is limi…

Mmtc Limited, New Delhi vs. DCIT, New Delhi

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

ITA 2488/DEL/2010[2003-04]Status: DisposedITAT Delhi30 Jan 2024AY 2003-04

Bench: Shri N.K. Billaiya & Ms Astha Chandra

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri Subhra Jyoti Chakraborty, CIR-DR
Section 2Section 80ASection 80B(5)Section 80CSection 80H

…nt case the issue pertains to the question of set off of deduction computed in terms of section 80HHC (3)(c) of the Act in arriving as the total income. Ld. Counsel relied for judgment of Hon’ble Supreme Court of India in CIT vs. Williamson Financial Services 297 ITR 17 and Bombay High Court in V. M. Salgaoncar Sales International vs. ACIT : 281 CTR 191. 26. Ld. Counsel relied judgment of Hon’ble Supreme Court of India in Commissioner of Income Tax v. Reliance Energy Ltd (2021) 127 taxmann.com 69 to draw an analogy, where in regard to section 80IA it is held that the scope of sub section 5 of section 80IA is limi…

Mmtc Ltd vs. DCIT, Circle-5(1)

The appeal is allowed, with aforesaid consequences, as directed in ground wise findings

ITA 1722/DEL/2006[2003-2004]Status: DisposedITAT Delhi30 Jun 2023AY 2003-2004

Bench: Sh. G.S.Pannu, Hon’Ble & Sh. Anubhav Sharmam/S. Mmtc Ltd., Scope Vs. Dcit, Complex, Circle-5(1) Core 1,7, Institutional Area, New Delhi Lodhi Road, New Delhi- 110003 Pan : (Appellant) (Respondent)

Section 143(3)Section 44ASection 80Section 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCHES ‘E’ : NEW DELHI) BEFORE SH. G.S.PANNU, HON’BLE PRESIDENT AND SH. ANUBHAV SHARMA, JUDICIAL MEMBER M/s. MMTC Ltd., Scope Vs. DCIT, Complex, Circle-5(1) Core 1,7, Institutional Area, New Delhi Lodhi Road, New Delhi- 110003 PAN : (APPELLANT) (RESPONDENT) Assessee by Sh Rohit Jain, Adv., Sh. Tavish Verma, Adv. & Ms. Manisha Sharma, Adv. Revenue by Sh. N.C.Swain, CIT- DR & Shri Jeetendra Chand, Sr. DR Date of hearing: 01.06.2023 Date of Pronouncement: 30.06.2023 ORDER PER ANUBHAV SHARMA, JM: The Assessee has come in appeal against order dated 17.03.2006 in appea…

M/S Yokogawa India Ltd vs. The Deputy Commissioner

In the result, the appeal is disposed of

ITA/87/2012HC Karnataka04 Jun 2020

Bench: ALOK ARADHE,HEMANT CHANDANGOUDAR

Section 115JSection 143(1)Section 143(2)Section 260Section 260A

…for the purposes of this Section, book profit means the profit as shown in the statement of profit and loss account for the relevant previous years prepared under sub-Section(2). The supreme court in ‘J.K.INDUSTRIES LTD. VS. UNION OF INDIA’, (2008) 297 ITR 176 (SC) has held that books of account do not include balance sheet and profit and loss account. It has further been held that balance sheet and profit and loss account are financial statements. Section 10A of the Act permits a newly established undertaking in Free Trade Zone to claim a deduction from profits as are derived by an undertaking…

Plastiblends India Limited Through Its Chairman and Managing Director vs. Addl.Commissioner of Income Tax Range 8(2) Mumbai

C.A. No.-000238-000238 - 2012Supreme Court09 Oct 2017

Bench: HON'BLE MR. JUSTICE A.K. SIKRI

Section 143(1)(a)Section 32Section 80

…industrial undertakings etc., in certain cases.- (1) Where the gross total income of an assessee includes any profits and gains derived from any business of an industrial undertaking or a hotel or operation of a ship or developing, maintaining and 6 (2008) 297 ITR 17 7 (2009) 310 ITR 392 8 It may be mentioned that Section 80-IA inserted by the Finance (No.2) Act, 1991 and was amended from time to time. The provision was recasted and substituted by Finance Act, 2001 and certain amendments made to that provision also thereafter. We are, however, concerned with the provision that was in force before its ame…

DCIT, New Delhi vs. M/S. Coster India Packaging Pvt. Ltd., New Delhi

In the result the appeal of the revenue is dismissed

ITA 1740/DEL/2014[2009-10]Status: DisposedITAT Delhi18 Dec 2015AY 2009-10

Bench: Shri Vijay Pal Raodcit, Coster India Packaging Circle-3(1), Pvt. Ltd, Vs. New Delhi 3/138, Asaf Ali Road, New Delhi Pan:Aafcs6667R (Assessee ) (Revenue)

For Appellant: Ms. Aruna Mittal, CAFor Respondent: Dr. Anjula Jain, Sr. DR
Section 10Section 10A

…ay High Court in the case of CIT Vs. Black and Veatch Consulting P. Ltd. (2012) 348 ITR 372 held in para 12 to 14 as under:- 12. At this stage, it would also be necessary to recollect the Supreme Court's judgment in CIT v. Williamson Financial Services [2008] 297 ITR 17/[2007] 165 Taxman 638 which was taken note of in TEI Technologies (P.) Ltd. (supra), In Williamson Financial Services (supra), the Supreme Court held that: 'At this stage we have to analyse Chapter III which deals with incomes which do not form part of total income. Section 10 groups in one place various incomes which are exempt from tax. The inco…

The Commissioner of Income Tax vs. M/S Wipro Ltd

The appeals stand disposed of, accordingly

ITA/211/2009HC Karnataka25 Mar 2015

Bench: N.KUMAR,B.SREENIVASE GOWDA

Section 260

…- head profit and gains of business or profession. In respect of the income of the unit qualifying for deduction under Section 10-A, income tax is neither paid nor incurred. The Apex Court in the case of CIT –vs- Williamson Financial Services & Ors. (297 ITR 17) dealing with computation of deduction under Section 80HHC in respect of profits from export of tea held that Section 10 groups in one place various incomes which are exempt from tax. In respect of incomes on which deductions under Chapter VI-A are allowed, such incomes are wholly or partly tax free incomes. Section 10-A provides deducti…

M/S Wipro Limited vs. The Deputy Commissioner of Income Tax

The appeals stand disposed of, accordingly

ITA/881/2008HC Karnataka25 Mar 2015

Bench: N.KUMAR,B.SREENIVASE GOWDA

Section 260

…- head profit and gains of business or profession. In respect of the income of the unit qualifying for deduction under Section 10-A, income tax is neither paid nor incurred. The Apex Court in the case of CIT –vs- Williamson Financial Services & Ors. (297 ITR 17) dealing with computation of deduction under Section 80HHC in respect of profits from export of tea held that Section 10 groups in one place various incomes which are exempt from tax. In respect of incomes on which deductions under Chapter VI-A are allowed, such incomes are wholly or partly tax free incomes. Section 10-A provides deducti…

Commissioner of Income Tax Delhi -II vs. Kei Industries Limited

ITA/386/2013HC Delhi13 Mar 2015

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE R.K.GAUBA

Section 10BSection 143(3)Section 260A

…10B are in the nature of exemption provisions, rather than provisions for deduction.‖ 12. At this stage, it would also be necessary to recollect the Supreme Court’s judgment in Commissioner of Income-tax v. Williamson Financial Services and Ors., (2008) 297 ITR 17 (SC), which was taken note of in Tei Technologies (supra). In Williamson Financial Services (supra), the Supreme Court held that: ―At this stage we have to analyse Chapter III which deals with incomes which do not form part of total income. Section 10 groups in one place various incomes which are exempt from tax. The incomes enumerated in s…

The Commissioner of Income Tax IV vs. M/s Matrix Power Pvt Ltd

ITTA/386/2013HC Telangana03 Sept 2013

CIT vs. Tei Technologies Pvt Ltd

ITA/2067/2010HC Delhi27 Aug 2012

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 10ASection 143(3)Section 260ASection 72

…ss of income is only partially exempt from taxation does not necessarily mean that it is only a deduction. In a recent judgment, the Supreme Court has elucidated on the subject – Commissioner of Income-tax v. Williamson Financial Services and Ors., (2008) 297 ITR 17 (SC) where it was observed as under: - “At this stage we have to analyse Chapter III which deals with incomes which do not form part of total income. Section 10 groups in one place various incomes which are exempt from tax. The incomes enumerated in section 10 are not only excluded from the taxable ITA Nos.347/2011 & 2067/2010…

CIT vs. Tei Technologies Pvt Ltd

ITA/347/2011HC Delhi27 Aug 2012

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 10ASection 143(3)Section 260ASection 72

…ss of income is only partially exempt from taxation does not necessarily mean that it is only a deduction. In a recent judgment, the Supreme Court has elucidated on the subject – Commissioner of Income-tax v. Williamson Financial Services and Ors., (2008) 297 ITR 17 (SC) where it was observed as under: - “At this stage we have to analyse Chapter III which deals with incomes which do not form part of total income. Section 10 groups in one place various incomes which are exempt from tax. The incomes enumerated in section 10 are not only excluded from the taxable ITA Nos.347/2011 & 2067/2010…

Commr.of Income Tax, Dibrugarh vs. Doom Dooma India Ltd

C.A. No.-001094-001094 - 2009Supreme Court18 Feb 2009
Section 260ASection 28Section 32Section 32(1)(i)Section 32(1)(ii)Section 43(6)(b)

…the depreciation “actually allowed”. Hence we find no merit in the civil appeals filed by the Department. 17. Before concluding, we may state that the judgment of this Court in Commissioner of Income Tax v. Willamson Financial Services and Others – (2008) 297 ITR 17, has no application to the present cases. Willamson Financial Services case (supra) was rendered in the context of deduction under Section 80-HHC of the 1961 Act. Section 80-HHC comes under Chapter VIA. Chapter VIA refers to special deductions. It is a separate Code by itself. There 1 is a distinction between “deductions/allowances in Secti…