DCIT v. Bombay Diamond Company Ltd.

33 DTR 59Income Tax Appellate Tribunal2010#5355 most cited

What is DCIT v. Bombay Diamond Company Ltd. authority for?

Notional income, which does not represent real profit or accrual for the company during the financial year, should be excluded when computing book profit under Section 115JB of the Income Tax Act.

22

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2024.

Also referred to as

DCIT v. Bombay Diamond Company Ltd · Section 115JB · notional income · book profit · MAT · real income · accrual · Syndicate Bank v. ACIT · D.P. Communication Systems

Also reported as

7 SOT 51

Sections most often in play

Section 115JBSection 143(3)Section 144BSection 144C(3)Section 201(1A)Section 234CSection 32(1)(ii)Section 37(1)

Judgments citing DCIT v. Bombay Diamond Company Ltd.

D.C.I.T.CC - Xxviii, Kol., Kolkata vs. M/S Binani Industries Ltd., Kolkata

In the result, the appeal of the revenue is dismissed

ITA 144/KOL/2013[2009-10]Status: DisposedITAT Kolkata02 Mar 2016AY 2009-10

Bench: : Shri N.V.Vasudevan & Shri M. Balaganesh

For Appellant: S/ Shri K.V. Beswal, FCAFor Respondent: Shri Rajat Subhra Biswas, CIT, ld.DR
Section 115JSection 139(5)Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, “A” BENCH, KOLKATA Before : Shri N.V.Vasudevan, Judicial Member, and Shri M. Balaganesh, Accountant Member ITA No. 144/Kol/2013 A.Y 2009-10 D.C.I.T, C.C-XXVIII, Kolkata Vs. M/s. Binani Industries Ltd PAN: AABCB0979C (Appellant) (Respondent) For the Appellant/Department: Shri Rajat Subhra Biswas, CIT, ld.DR For the Respondent/Assessee: S/ Shri K.V. Beswal, FCA Vijay Mehta, ld.ARs Date of Hearing: 15-02-2016 Date of Pronouncement: 02-03-2016 ORDER SHRI M.BALAGANESH, AM : This appeal of the revenue arises out of the order of the Learned CIT(A), Central-1, Kolka…

B & B Infratech Ltd., Bangalore vs. ITO, Bangalore

In the result, the appeal of the assessee is dismissed

ITA 726/BANG/2014[2005-06]Status: DisposedITAT Bangalore07 Oct 2015AY 2005-06

Bench: Shri Vijay Pal Rao & Shri Jason P Boazm/S.B & B Infotech Ltd., No.17, 4Th Floor, Shah Sultan Apartment, Ali Asker Road, Bangalore-560 052. … Appellant Pan:Aaacr6295D Vs. Income-Tax Officer, Ward 12(1), Bangalore. … Respondent

For Appellant: Shri T.Srinivasa, CAFor Respondent: Shri G.Ramesha, JCIT(DR)
Section 10(38)Section 115Section 115JSection 2(24)

…e of exclude receipts and directly on the issue under agitation: a) Hon'ble ITAT, Bangalore in the case of Syndicate Bank, Manipal Vs. Assessee M/s. B & B Infotech Ltd. Page 4 of 9 b) Hon'ble ITAT, Mumbai in the case of DCIT Vs. Bombay Diamond Co. Ltd (2010) 33 DTR 59 (Mum) c) ITAT, Jaipur in the case of Shree Cement Ltd., Ajmer Vs. Department of Income Tax dated 09.09.2011 d) ITAT, Jaipur in the case of Shree Cement Ltd., Ajmer Vs. Department of Income Tax dated 27.01.2014 e) ITAT, Hyderabad in the case of My Home Power Ltd., Hyderabad Vs. Assessee f) ITAT Mumbai in the case of Hitkari Fibers Ltd Vs JCIT dated…