DCIT v. Gloster Jute Mills Limited

Acc Limited (Formerly Known As the Associated Cement Companies Ltd.), Mumbai vs. Addll. CIT, RG. 1(1), Mumbai

In the result, appeal filed by assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blem/S. Acc Ltd., V. Dcit – Range – 1(1) Mumbai {Formerly Known As The Associated Cement Companies, Ltd.,} Cement House, 121 M.K. Road, Churchgate Mumbai - 400020 Pan: Aaact1507C (Appellant) (Respondent) Dcit (Ltu)-1 V. M/S. Acc Ltd., 29Th Floor, Centre No.1 Cement House, 121 World Trade Centre, Cuffe Parade M.K. Road, Churchgate Mumbai - 400005 Mumbai - 400020 Pan: Aaact1507C (Appellant) (Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, HON'BLE JUDICIAL MEMBER M/s. ACC Ltd., V. DCIT – Range – 1(1) Mumbai {Formerly Known as The Associated Cement Companies, Ltd.,} Cement House, 121 M.K. Road, Churchgate Mumbai - 400020 PAN: AAACT1507C (Appellant) (Respondent) DCIT (LTU)-1 V. M/s. ACC Ltd., 29th Floor, Centre No.1 Cement House, 121 World Trade Centre, Cuffe Parade M.K. Road, Churchgate Mumbai - 400005 Mumbai - 400020 PAN: AAACT1507C (Appellant) (Respondent) Assessee represented by : Shri Yogesh Thar…

Acc Ltd, Mumbai vs. Asst CIT Ltu, Mumbai

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, HON'BLE JUDICIAL MEMBER ITA NO.4669/MUM/2012 (A.Y: 2007-08) M/s. ACC Limited v. Addl. CIT – LTU (Formerly known as The Associated Mumbai Cement Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 PAN: AAACT1507C (Appellant) (Respondent) Addl. CIT – LTU v. M/s. ACC Limited 28th Floor, Centre – 1 (Formerly known as The Associated Cement Companies Ltd.) World Trade Centre, Cuffe Parade Cement House, 121, M.K. Road Mumbai-400005 Churchgate, Mumbai-40…

Acc Limited (Formerly Known As the Associated Cement Companies Ltd.), Mumbai vs. ACIT - Ltu, Mumbai

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blem/S. Acc Limited V. Addl. Cit -Range 1(1) (Formerly Known As The Associated Cement Mumbai Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) M/S. Acc Limited V. Asst. Cit-Ltu (Formerly Known As The Associated Mumbai Cement Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) Acit – Ltu V. M/S. Acc Limited 28Th Floor, Centre-1 (Formerly Known As The Associated Cement Companies Ltd.) World Trade Centre, Cuffe Parade Cement House, 121, M.K. Road Mumbai - 400005 Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent)

…peals. The Ld. AR has fairly conceded that similar issue is decided against assessee in A.Y. 2002-03 to 2004-05 by the Coordinate Bench. However, Ld. AR has relied upon following decisions in support of the claim. (i). DCIT v. Gloster Jute Mills Ltd. [(2017) 185 TTJ 339 (Kolkata Tribunal)] (ii). Shivalik Ventures (P.) Ltd. v. DCIT [(2015) 70 SOT 92 (Mumbai Tribunal)] (iii). JSW Steel Ltd. v. ACIT [ITA No.923 of 2009 dated January 13, 2017 (Mumbai Tribunal)] (iv). Ambuja Cements Ltd [ITA No. 2384/Mum/2019 and ors.] (AY 2010-11) (Para 18-20; internal page 4-5) 140. The Ld. DR has relied upon finding given by Asse…

Acc Ltd ( Formerly Known As the Associates Cement Companies Ltd), Mumbai vs. Addl CIT Ltu, Mumbai

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, HON'BLE JUDICIAL MEMBER ITA NO.4669/MUM/2012 (A.Y: 2007-08) M/s. ACC Limited v. Addl. CIT – LTU (Formerly known as The Associated Mumbai Cement Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 PAN: AAACT1507C (Appellant) (Respondent) Addl. CIT – LTU v. M/s. ACC Limited 28th Floor, Centre – 1 (Formerly known as The Associated Cement Companies Ltd.) World Trade Centre, Cuffe Parade Cement House, 121, M.K. Road Mumbai-400005 Churchgate, Mumbai-40…

Addl.C.I.T. Ltu, Mumbai vs. Acc Ltd., Mumbai

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, HON'BLE JUDICIAL MEMBER ITA NO.4669/MUM/2012 (A.Y: 2007-08) M/s. ACC Limited v. Addl. CIT – LTU (Formerly known as The Associated Mumbai Cement Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 PAN: AAACT1507C (Appellant) (Respondent) Addl. CIT – LTU v. M/s. ACC Limited 28th Floor, Centre – 1 (Formerly known as The Associated Cement Companies Ltd.) World Trade Centre, Cuffe Parade Cement House, 121, M.K. Road Mumbai-400005 Churchgate, Mumbai-40…

Addl CIT RG 1(1), Mumbai vs. Acc Ltd, Mumbai

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blem/S. Acc Limited V. Addl. Cit -Range 1(1) (Formerly Known As The Associated Cement Mumbai Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) M/S. Acc Limited V. Asst. Cit-Ltu (Formerly Known As The Associated Mumbai Cement Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) Acit – Ltu V. M/S. Acc Limited 28Th Floor, Centre-1 (Formerly Known As The Associated Cement Companies Ltd.) World Trade Centre, Cuffe Parade Cement House, 121, M.K. Road Mumbai - 400005 Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent)

…peals. The Ld. AR has fairly conceded that similar issue is decided against assessee in A.Y. 2002-03 to 2004-05 by the Coordinate Bench. However, Ld. AR has relied upon following decisions in support of the claim. (i). DCIT v. Gloster Jute Mills Ltd. [(2017) 185 TTJ 339 (Kolkata Tribunal)] (ii). Shivalik Ventures (P.) Ltd. v. DCIT [(2015) 70 SOT 92 (Mumbai Tribunal)] (iii). JSW Steel Ltd. v. ACIT [ITA No.923 of 2009 dated January 13, 2017 (Mumbai Tribunal)] (iv). Ambuja Cements Ltd [ITA No. 2384/Mum/2019 and ors.] (AY 2010-11) (Para 18-20; internal page 4-5) 140. The Ld. DR has relied upon finding given by Asse…

Acc Ltd ( Formerly Known As the Associated Cement Companies Ltd), Mumbai vs. Addl CIT RG 1(1), Mumbai

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blem/S. Acc Limited V. Addl. Cit -Range 1(1) (Formerly Known As The Associated Cement Mumbai Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) M/S. Acc Limited V. Asst. Cit-Ltu (Formerly Known As The Associated Mumbai Cement Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) Acit – Ltu V. M/S. Acc Limited 28Th Floor, Centre-1 (Formerly Known As The Associated Cement Companies Ltd.) World Trade Centre, Cuffe Parade Cement House, 121, M.K. Road Mumbai - 400005 Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent)

…peals. The Ld. AR has fairly conceded that similar issue is decided against assessee in A.Y. 2002-03 to 2004-05 by the Coordinate Bench. However, Ld. AR has relied upon following decisions in support of the claim. (i). DCIT v. Gloster Jute Mills Ltd. [(2017) 185 TTJ 339 (Kolkata Tribunal)] (ii). Shivalik Ventures (P.) Ltd. v. DCIT [(2015) 70 SOT 92 (Mumbai Tribunal)] (iii). JSW Steel Ltd. v. ACIT [ITA No.923 of 2009 dated January 13, 2017 (Mumbai Tribunal)] (iv). Ambuja Cements Ltd [ITA No. 2384/Mum/2019 and ors.] (AY 2010-11) (Para 18-20; internal page 4-5) 140. The Ld. DR has relied upon finding given by Asse…

Addl CIT RG 1(1), Mumbai vs. Acc Ltd, Mumbai

In the result, appeal filed by assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blem/S. Acc Limited V. Addl. Cit – Range-1(1) (Formerly Known As The Associated Mumbai Cement Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) Dy. Cit - 1(1) V. M/S. Acc Limited Room No. 79, Aayakar Bhavan (Formerly Known As The Associated Cement Companies Ltd.) M.K. Road, Mumbai – 400020 Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent)

…cross appeals. The Ld. AR has fairly conceded that similar issue is decided against assessee in A.Y. 2002-03 to 2004-05 by Coordinate bench. However, Ld. AR has relied upon following decisions in support of claim. (i) DCIT v. Gloster Jute Mills Ltd. [(2017) 185 TTJ 339 (Kolkata Tribunal)] (ii) Shivalik Ventures (P.) Ltd. v. DCIT [(2015) 70 SOT 92 (Mumbai Tribunal)] (iii) JSW Steel Ltd. v. ACIT [ITA No.923 of 2009 dated January 13, 2017 (Mumbai Tribunal)] (iv) Ambuja Cements Ltd [ITA No. 2384/Mum/2019 and ors.] (AY 2010-11) (Para 18-20; internal page 4-5) 110. The Ld. DR has relied upon finding given by Assessi…

Acc Ltd (Formerly Known As the Associated Cement Companies Ltd), Mumbai vs. Addl CIT RG 1(1), Mumbai

In the result, appeal filed by assessee is partly allowed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blem/S. Acc Limited V. Addl. Cit – Range-1(1) (Formerly Known As The Associated Mumbai Cement Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) Dy. Cit - 1(1) V. M/S. Acc Limited Room No. 79, Aayakar Bhavan (Formerly Known As The Associated Cement Companies Ltd.) M.K. Road, Mumbai – 400020 Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent)

…cross appeals. The Ld. AR has fairly conceded that similar issue is decided against assessee in A.Y. 2002-03 to 2004-05 by Coordinate bench. However, Ld. AR has relied upon following decisions in support of claim. (i) DCIT v. Gloster Jute Mills Ltd. [(2017) 185 TTJ 339 (Kolkata Tribunal)] (ii) Shivalik Ventures (P.) Ltd. v. DCIT [(2015) 70 SOT 92 (Mumbai Tribunal)] (iii) JSW Steel Ltd. v. ACIT [ITA No.923 of 2009 dated January 13, 2017 (Mumbai Tribunal)] (iv) Ambuja Cements Ltd [ITA No. 2384/Mum/2019 and ors.] (AY 2010-11) (Para 18-20; internal page 4-5) 110. The Ld. DR has relied upon finding given by Assessi…

DCIT-Ltu - 2, Mumbai vs. Ambuja Cements Ltd, Mumbai

In the result, the appeal of the revenue is dismissed

…ITA Nos. 1889 and 1241/Mum/2018, 2384, 2958, 3475 and 3843/Mum/2019 Assessment years: 2010-11, 2011-12 and 2012-13 Page 1 of 99 THE INCOME TAX APPELLATE TRIBUNAL MUMBAI K BENCH, MUMBAI [Coram: Pramod Kumar (Vice President), and Sandeep S Karhail (Judicial Member)] ITA No.2384 and 3475/Mum/2019 and 1241/Mum/2018 Assessment years: 2010-11, 2011-12 and 2012-13 Ambuja Cement Limited .…………………………Appellant (formerly known as Gujarat Ambuja Cements Ltd.) Elegant Business Park, MIDC Cross Road B, Andheri (E) Mumbai 400 059 [PAN: AAACG0569P] Vs. Additional Commissioner of Income Tax Large Tax Payer Unit, Mumbai ……………...………

DCIT (Ltu) 1, Mumbai vs. Ambuja Cements Ltd, Mumbai

In the result, the appeal of the revenue is thus dismissed

…ITA Nos.2968/Mum/2015 & 1665/Mum/2019 ITA Nos. 3307/Mum/2015 & 2428/Mum/2019 Assessment years: 2008-09 and 2009-10 Page 1 of 51 THE INCOME TAX APPELLATE TRIBUNAL MUMBAI K BENCH, MUMBAI [Coram: Pramod Kumar (Vice President), and Sandeep S Karhail (Judicial Member)] ITA Nos.2968/Mum/2015 and 1665/Mum/2019 Assessment years: 2008-09 and 2009-10 Ambuja Cement Limited .…………………………Appellant (formerly known as Gujarat Ambuja Cements Ltd.) Elegant Business Park, MIDC Cross Road B, Andheri (E) Mumbai 400 059 [PAN: AAACG0569P] Vs. Additional Commissioner of Income Tax Large Tax Payer Unit, Mumbai ……………...…………Respondent ITA…

Asst CIT Ltu, Mumbai vs. Ambuja Cements Ltd, Mumbai

In the result, the appeal of the revenue is dismissed

…ITA Nos. 6375 and 6405/Mum/2013 CO No. 166/Mum/2015 Assessment year: 2007-08 Page 1 of 42 THE INCOME TAX APPELLATE TRIBUNAL MUMBAI K BENCH, MUMBAI [Coram: Pramod Kumar (Vice President), and Sandeep S Karhail (Judicial Member)] Assessment year: 2007-08 Ambuja Cement Limited .…………………………Appellant (formerly Known as Gujarat Ambuja Cements Ltd.) Elegant Business Park, MIDC Cross Road B, Andheri (E) Mumbai 400 059 [PAN: AAACG0569P] Vs. Additional Commissioner of Income Tax Large Tax Payer Unit, Mumbai ……………...…………Respondent CO No. 166/Mum/2015 In ITA No. 6375/Mum/2013 Assessment year: 2007-08 Assistant Commissioner of…

Ambuja Cements Ltd ( Formerly Known As Gujarat Ambuja Cements Ltd), Mumbai vs. Addl CIT 3(1), Mumbai

In the result, the appeal of the revenue is thus dismissed

…ITA Nos.2968/Mum/2015 & 1665/Mum/2019 ITA Nos. 3307/Mum/2015 & 2428/Mum/2019 Assessment years: 2008-09 and 2009-10 Page 1 of 51 THE INCOME TAX APPELLATE TRIBUNAL MUMBAI K BENCH, MUMBAI [Coram: Pramod Kumar (Vice President), and Sandeep S Karhail (Judicial Member)] ITA Nos.2968/Mum/2015 and 1665/Mum/2019 Assessment years: 2008-09 and 2009-10 Ambuja Cement Limited .…………………………Appellant (formerly known as Gujarat Ambuja Cements Ltd.) Elegant Business Park, MIDC Cross Road B, Andheri (E) Mumbai 400 059 [PAN: AAACG0569P] Vs. Additional Commissioner of Income Tax Large Tax Payer Unit, Mumbai ……………...…………Respondent ITA…

ACIT Cent. Cir 3(3), Mumbai vs. M/S. Aym Syntex Ltd, Mumbai

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

…ew, the assessee has relied on various .10 In order to support its view, the assessee has relied on various .10 In order to support its view, the assessee has relied on various judicial pronouncements pronouncements - i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT was of the view that in order to sustain competitiveness in the was of the view that in order to sustain competitiveness in the was of the view that in order to sustain competitiveness in the domest…

ACIT- CC -3, Mumbai vs. Aym Syntex Ltd., Mumbai

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

…ew, the assessee has relied on various .10 In order to support its view, the assessee has relied on various .10 In order to support its view, the assessee has relied on various judicial pronouncements pronouncements - i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT was of the view that in order to sustain competitiveness in the was of the view that in order to sustain competitiveness in the was of the view that in order to sustain competitiveness in the domest…

Aym Syntex Ltd. (Formerly Known As M/S. Welspun Syntex Ltd.), Mumbai vs. DCIT- CC- 3(4), Mumbai

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

…ew, the assessee has relied on various .10 In order to support its view, the assessee has relied on various .10 In order to support its view, the assessee has relied on various judicial pronouncements pronouncements - i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT was of the view that in order to sustain competitiveness in the was of the view that in order to sustain competitiveness in the was of the view that in order to sustain competitiveness in the domest…

M/S. Aym Syntex Ltd (Formerly Known As M/S. Welspun Syntex Ltd, Mumbai vs. DCIT -Cent Cir-3(4), Mumbai

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

…ew, the assessee has relied on various .10 In order to support its view, the assessee has relied on various .10 In order to support its view, the assessee has relied on various judicial pronouncements pronouncements - i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT was of the view that in order to sustain competitiveness in the was of the view that in order to sustain competitiveness in the was of the view that in order to sustain competitiveness in the domest…

Aym Syntex Ltd.(Formerly Known As M/S. Welspun Syntex Ltd.), Mumbai vs. DCIT- CC- 3(3), Mumbai

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

…ew, the assessee has relied on various .10 In order to support its view, the assessee has relied on various .10 In order to support its view, the assessee has relied on various judicial pronouncements pronouncements - i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT i. In the case of Gloster Jute Mills Ltd. 67 SOT 21 (Kol.) the ITAT was of the view that in order to sustain competitiveness in the was of the view that in order to sustain competitiveness in the was of the view that in order to sustain competitiveness in the domest…

DCIT 4(3)(1), Mumbai vs. Orbit Exports Ltd., Mumbai

In the result, both the appeals of revenue are dismissed

Bench: Shri M.Balaganesh, Am & Shri Pavan Kumar Gadale, Jm & Dcit-4(3)(1) Vs. M/S. Orbit Exports Ltd., Room No.649, 6Th Floor E-27-29, Mangalore Street Aayakar Bhavan (Adi Marizaben Street) Mumbai – 400 020 Ballard Estate, S. Bhagat Sing Marg, Mumbai – 400 038 Pan/Gir No. Aaaco1268K (Appellant) .. (Respondent)

…eliance on the decisions of the Hon’ble Punjab and Haryana High Court in the case of CIT vs. Sham Lal Bansal reported in 200 Taxman 14 (P & H) and the Co- ordinate Bench decision of Kolkata Tribunal in the case of DCIT vs. Gloster Jute Mills Ltd., reported in 67 SOT 21 (Kolkata Tribunal) which was later approved by the Hon’ble Calcutta High Court in GA No.3980 and 3981 of 2014 dated 18/06/2018. We also find that the Hon’ble Rajasthan High Court in the case of PCIT vs. Nitin Spinners Ltd., in Income Tax Appeal No.31/2019 dated 19/09/2019 had under similar facts and circumstances held these receipt of subsidies to…