DCIT v. Eastern Medikit Ltd.

100 TTJ 383Income Tax Appellate Tribunal2006#6912 most cited
17

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2023.

Issues it is cited on

section 2(7)section 120(4)(b)section 120(1)section 2(7a)section 163section 115jasection 120section 156section 16interest under section 234bsection 127book profits

Judgments citing DCIT v. Eastern Medikit Ltd.

NUCLEAR POWER CORPORATION OF INDIA LTD,MUMBAI vs. ADDL CIT RG 3(2), MUMBAI

ITA 3553/MUM/2011[2006-07]Status: DisposedITAT Mumbai29 Nov 2023AY 2006-07

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…penditure related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held that deduction us 80IA of the that deduction us 80IA of the IT.Act has to be computed for each unit IT.Act has to be computed for each unit independently taking into consideration the profit…

NUCLEAR POWER CORPORATION OF INDIA LTD,MUMBAI vs. ADDL CIT RG 3(2), MUMBAI

ITA 2452/MUM/2011[2005-06]Status: DisposedITAT Mumbai29 Nov 2023AY 2005-06

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…penditure related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held that deduction us 80IA of the that deduction us 80IA of the IT.Act has to be computed for each unit IT.Act has to be computed for each unit independently taking into consideration the profit…

NUCLEAR POWER CORPORATION OF INDIA LTD,,MUMBAI vs. ADDL. C.I.T,RANGE 3(2), MUMBAI

ITA 3867/MUM/2008[2001-2002]Status: DisposedITAT Mumbai29 Nov 2023AY 2001-2002

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…penditure related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held that deduction us 80IA of the that deduction us 80IA of the IT.Act has to be computed for each unit IT.Act has to be computed for each unit independently taking into consideration the profit…

NUCLEAR POWER CORPORATION OF INDIA LTD,,MUMBAI vs. ADDL. C.I.T,RANGE 3(2), MUMBAI

ITA 4745/MUM/2007[2004-2005]Status: DisposedITAT Mumbai29 Nov 2023AY 2004-2005

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…penditure related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held that deduction us 80IA of the that deduction us 80IA of the IT.Act has to be computed for each unit IT.Act has to be computed for each unit independently taking into consideration the profit…

NUCLEAR POWER CORPORATION OF INDIA LTD,,MUMBAI vs. ADDL. C.I.T,RANGE 3(2), MUMBAI

ITA 4744/MUM/2007[2003-2004]Status: DisposedITAT Mumbai29 Nov 2023AY 2003-2004

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…penditure related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held that deduction us 80IA of the that deduction us 80IA of the IT.Act has to be computed for each unit IT.Act has to be computed for each unit independently taking into consideration the profit…

NUCLEAR POWER CORPORATION OF INDIA LTD,,MUMBAI vs. ADDL. C.I.T,RANGE 3(2), MUMBAI

ITA 4743/MUM/2007[2002-2003]Status: DisposedITAT Mumbai29 Nov 2023AY 2002-2003

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…penditure related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held that deduction us 80IA of the that deduction us 80IA of the IT.Act has to be computed for each unit IT.Act has to be computed for each unit independently taking into consideration the profit…

THE DY CIT 3(2), MUMBAI vs. M/S. NUCLEAR POWER CORPORATION OF INDIA LTD, MUMBAI

ITA 4603/MUM/2007[2004-2005]Status: DisposedITAT Mumbai29 Nov 2023AY 2004-2005

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…penditure related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held that deduction us 80IA of the that deduction us 80IA of the IT.Act has to be computed for each unit IT.Act has to be computed for each unit independently taking into consideration the profit…

NUCLEAR POWER CORPORATION OF INDIA LTD.,MUMBAI vs. ACIT RANGE 3(2), MUMBAI

ITA 4413/MUM/2004[2000-01]Status: DisposedITAT Mumbai29 Nov 2023AY 2000-01

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…penditure related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held that deduction us 80IA of the that deduction us 80IA of the IT.Act has to be computed for each unit IT.Act has to be computed for each unit independently taking into consideration the profit…

NUCLEAR POWER CORPORATION OF INDIA LTD.,MUMBAI vs. ADDL.COMMR.OF INCOME TAX, SPL. RG.32, MUMBAI

ITA 202/MUM/2004[98-99]Status: DisposedITAT Mumbai29 Nov 2023

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…penditure related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held that deduction us 80IA of the that deduction us 80IA of the IT.Act has to be computed for each unit IT.Act has to be computed for each unit independently taking into consideration the profit…

NUCLEAR POWER CORPORATION OF INDIA LTD.,MUMBAI vs. ACIT(OSD) RANGE 3(2), MUMBAI

ITA 114/MUM/2004[1999-2000]Status: DisposedITAT Mumbai29 Nov 2023AY 1999-2000

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…penditure related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT related to the units eligible for deduction us 80IA. In the case of DCIT Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held Vs. Eastern Medikit Ltd (2006) 100 TTJ 383 (Del), it has been held that deduction us 80IA of the that deduction us 80IA of the IT.Act has to be computed for each unit IT.Act has to be computed for each unit independently taking into consideration the profit…

THE DY.CIT.,CIRCLE-1(1)(2), SURAT vs. GUJARAT JHM HOTELS LTD.,, SURAT

In the result, the grounds of appeal raised by the revenue are dismissed

ITA 27/SRT/2017[2010-11]Status: DisposedITAT Surat25 Jul 2022AY 2010-11

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) D.C.I.T. M/S Gujarat Jhm Hotels Ltd., Circle-1(1)(2), Hotel Holiday In, Near Ambica Vs. Surat. Niketan, Athwalines, Surat- 395001. Pan : Aaacg 8562 E Appellant Respondednt C.O. No. 02/Srt/2022 (Arising Out Of Ita No. 27/Srt/2017)(Ay: 2010-11) M/S Gujarat Jhm Hotels Ltd., D.C.I.T. Hotel Holiday In, Near Bharti Circle-1(1)(1), Vs. Park, Ambikaniketan, Surat. Athwalines, Surat-395007. Pan : Aaacg 8562 E Appellant Respondednt

Section 143Section 254(1)Section 80I

…d separately. In Section 80IA, at no place, it stipulated that one needs to combine profits and losses of all the undertakings of windmills to arrive at the deduction specified under Section 80IA. The Delhi Tribunal in the case of DCIT Vs Eastern Medikit Ltd. 100 TTJ 383 has held that each unit of assessee DCIT Vs M/s Gujarat JHM Hotels Ltd. being independent undertaking showing separate profit and loss which has been accepted in the past, deduction undersection 80IA is to be computed with respect to each of the unit separately. The assessee also relied on the decision of Bangalore Bench in case of Jindal Aluminu…

DR.REDDY'S LABORATORIES LIMITED,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-17(1), HYDERABAD

In the result, we hold that the Tax Authorities were not justified in apportioning R & D expenditure and ESOP cost to the units which claimed exemption u/s 10B, 80IB and 80IC of the Act

ITA 1846/HYD/2017[2010-11]Status: DisposedITAT Hyderabad08 Jun 2018AY 2010-11

Bench: Shri D. Manmohan & Shri S. Rifaur Rahman

For Appellant: Shri S.P. ChidambaramFor Respondent: Shri J. Siri Kumar, CIT-DR
Section 10ASection 10BSection 143(3)Section 147Section 148

…that common or head office expenditure should be assumed to have incurred for such eligible business as if it is only a source of income of the assessee. Reliance was placed upon a decision of the ITAT Delhi Bench in the case of DCIT vs. Eastern Medikit Ltd (100 TTJ 382) wherein the Bench observed that any allocation of the expenditure of the head office has to be done to all the units which are operating under the head office, unless there are valid reasons to exclude any particular unit. Ld. CIT(A) extended the same logic to R & D expenses also though the claim of the assessee was that it was not a common expe…

DR.REDDY'S LABORATORIES LIMITED,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-17(1), HYDERABAD

In the result, we hold that the Tax Authorities were not justified in apportioning R & D expenditure and ESOP cost to the units which claimed exemption u/s 10B, 80IB and 80IC of the Act

ITA 1845/HYD/2017[2009-10]Status: DisposedITAT Hyderabad08 Jun 2018AY 2009-10

Bench: Shri D. Manmohan & Shri S. Rifaur Rahman

For Appellant: Shri S.P. ChidambaramFor Respondent: Shri J. Siri Kumar, CIT-DR
Section 10ASection 10BSection 143(3)Section 147Section 148

…that common or head office expenditure should be assumed to have incurred for such eligible business as if it is only a source of income of the assessee. Reliance was placed upon a decision of the ITAT Delhi Bench in the case of DCIT vs. Eastern Medikit Ltd (100 TTJ 382) wherein the Bench observed that any allocation of the expenditure of the head office has to be done to all the units which are operating under the head office, unless there are valid reasons to exclude any particular unit. Ld. CIT(A) extended the same logic to R & D expenses also though the claim of the assessee was that it was not a common expe…

DR.REDDY'S LABORATORIES LIMITED,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-17(1), HYDERABAD

In the result, we hold that the Tax Authorities were not justified in apportioning R & D expenditure and ESOP cost to the units which claimed exemption u/s 10B, 80IB and 80IC of the Act

ITA 1844/HYD/2017[2008-09]Status: DisposedITAT Hyderabad08 Jun 2018AY 2008-09

Bench: Shri D. Manmohan & Shri S. Rifaur Rahman

For Appellant: Shri S.P. ChidambaramFor Respondent: Shri J. Siri Kumar, CIT-DR
Section 10ASection 10BSection 143(3)Section 147Section 148

…that common or head office expenditure should be assumed to have incurred for such eligible business as if it is only a source of income of the assessee. Reliance was placed upon a decision of the ITAT Delhi Bench in the case of DCIT vs. Eastern Medikit Ltd (100 TTJ 382) wherein the Bench observed that any allocation of the expenditure of the head office has to be done to all the units which are operating under the head office, unless there are valid reasons to exclude any particular unit. Ld. CIT(A) extended the same logic to R & D expenses also though the claim of the assessee was that it was not a common expe…

JAI CORP LTD,MUMBAI vs. DCIT CEN CIR 39, MUMBAI

In the result, both assessee’s and revenue’s appeals may be treated as partly allowed for statistical purposes

ITA 4837/MUM/2014[2010-11]Status: DisposedITAT Mumbai16 Mar 2016AY 2010-11

Bench: Shri Sanjay Garg & Shri Ashwani Tanejaassessment Year: 2010-11 M/S. Jai Corp Ltd. Dcit, Central Circle-39, 11-B Mittal Tower, B-Wing, बनाम/ R.No. 32(1), Gr. Fl. Nariman Point, Aayakar Bhavan, Vs. Mumbai- 400021 M.K. Road, Mumbai-400020 (Assessee) (Revenue) P.A. No.Aaacj2591A Assessment Year: 2010-11 Dcit, Central Circle-39, M/S. Jai Corp Ltd. R.No. 32(1), Gr. Fl. Aayakar बनाम/ 11-B Mittal Tower, B- Bhavan, Wing, Vs. M.K. Road, Nariman Point, Mumbai-400020 Mumbai- 400021 (Revenue) (Assessee) P.A. No.Aaacj2591A "नधा"रती क" ओर से / Assessee By Shri Vijay Mehta (Ar) राज"व क" ओर से / Revenue By Shri K. Mohandas, (Dr)

Section 10BSection 143(3)Section 14A(2)Section 234ASection 801BSection 80I

…view that the approach of the assessee defeats basic principle of taxation whereby only net income i.e. Gross Income less Expenditure is required to be taxed. He also relied upon another judgment of Delhi Bench of ITAT in case of DCIT vs. Eastern Medikit Ltd. 100 TTJ 382 (Del) for upholding the action of the AO in allocating the actual expenditure to all the units, unless there were valid reasons to exclude a particular unit. 4.4. But, with respect to quantification of head office expenses allocable to tax exempt units, Ld. CIT(A) did not fully accept stand of the AO and suggested another working on the basis of…

JAI CORP LTD,MUMBAI vs. DCIT CEN CIR 39, MUMBAI

In the result, both assessee’s and revenue’s appeals may be treated as partly allowed for statistical purposes

ITA 4836/MUM/2014[2007-08]Status: DisposedITAT Mumbai16 Mar 2016AY 2007-08

Bench: Shri Sanjay Garg & Shri Ashwani Tanejaassessment Year: 2010-11 M/S. Jai Corp Ltd. Dcit, Central Circle-39, 11-B Mittal Tower, B-Wing, बनाम/ R.No. 32(1), Gr. Fl. Nariman Point, Aayakar Bhavan, Vs. Mumbai- 400021 M.K. Road, Mumbai-400020 (Assessee) (Revenue) P.A. No.Aaacj2591A Assessment Year: 2010-11 Dcit, Central Circle-39, M/S. Jai Corp Ltd. R.No. 32(1), Gr. Fl. Aayakar बनाम/ 11-B Mittal Tower, B- Bhavan, Wing, Vs. M.K. Road, Nariman Point, Mumbai-400020 Mumbai- 400021 (Revenue) (Assessee) P.A. No.Aaacj2591A "नधा"रती क" ओर से / Assessee By Shri Vijay Mehta (Ar) राज"व क" ओर से / Revenue By Shri K. Mohandas, (Dr)

Section 10BSection 143(3)Section 14A(2)Section 234ASection 801BSection 80I

…view that the approach of the assessee defeats basic principle of taxation whereby only net income i.e. Gross Income less Expenditure is required to be taxed. He also relied upon another judgment of Delhi Bench of ITAT in case of DCIT vs. Eastern Medikit Ltd. 100 TTJ 382 (Del) for upholding the action of the AO in allocating the actual expenditure to all the units, unless there were valid reasons to exclude a particular unit. 4.4. But, with respect to quantification of head office expenses allocable to tax exempt units, Ld. CIT(A) did not fully accept stand of the AO and suggested another working on the basis of…

ACIT CC 39, MUMBAI vs. JAI CORP. LTD., MUMBAI

In the result, both assessee’s and revenue’s appeals may be treated as partly allowed for statistical purposes

ITA 4737/MUM/2014[2010-11]Status: DisposedITAT Mumbai16 Mar 2016AY 2010-11

Bench: Shri Sanjay Garg & Shri Ashwani Tanejaassessment Year: 2010-11 M/S. Jai Corp Ltd. Dcit, Central Circle-39, 11-B Mittal Tower, B-Wing, बनाम/ R.No. 32(1), Gr. Fl. Nariman Point, Aayakar Bhavan, Vs. Mumbai- 400021 M.K. Road, Mumbai-400020 (Assessee) (Revenue) P.A. No.Aaacj2591A Assessment Year: 2010-11 Dcit, Central Circle-39, M/S. Jai Corp Ltd. R.No. 32(1), Gr. Fl. Aayakar बनाम/ 11-B Mittal Tower, B- Bhavan, Wing, Vs. M.K. Road, Nariman Point, Mumbai-400020 Mumbai- 400021 (Revenue) (Assessee) P.A. No.Aaacj2591A "नधा"रती क" ओर से / Assessee By Shri Vijay Mehta (Ar) राज"व क" ओर से / Revenue By Shri K. Mohandas, (Dr)

Section 10BSection 143(3)Section 14A(2)Section 234ASection 801BSection 80I

…view that the approach of the assessee defeats basic principle of taxation whereby only net income i.e. Gross Income less Expenditure is required to be taxed. He also relied upon another judgment of Delhi Bench of ITAT in case of DCIT vs. Eastern Medikit Ltd. 100 TTJ 382 (Del) for upholding the action of the AO in allocating the actual expenditure to all the units, unless there were valid reasons to exclude a particular unit. 4.4. But, with respect to quantification of head office expenses allocable to tax exempt units, Ld. CIT(A) did not fully accept stand of the AO and suggested another working on the basis of…