DCIT v. Maruti Udyog Ltd.

99 ITD 666Income Tax Appellate Tribunal2006#13057 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2015 to 2017.

Judgments citing DCIT v. Maruti Udyog Ltd.

ITO 16(2)(4), Mumbai vs. Surya Gems, Mumbai

The appeal of the Revenue is dismissed

ITA 292/MUM/2014[2009-10]Status: DisposedITAT Mumbai08 Mar 2017AY 2009-10

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2009-10 Income Tax Officer-16(2)(4), M/S Surya Gems, बनाम/ 02Nd Floor, Matru Mandir, Flat No.4, 02Nd Floor, Tardeo Road, Bhaveshwar Sgar Patel Vs. Mumbai-400007 Compound 20 Napean Sea Road, Mumbai-400020 (याजस्व /Revenue) (यनधाारयती /Assessee) P.A. No. Aakfs6513Q याजस्व की ओर से / Revenue By Shri B.S. Bist-Dr यनधाारयती की ओर से / Assessee By None ुनवाई की तायीख / Date Of Hearing : 14/02/2017 आदेश की तायीख /Date Of Order: 08/03/2017

…As stated, there is no finding given by the AO the correctness of the Accounting Standard followed by the assessee(s) in this batch of civil appeals.‖ 40.1 Ld Counsel also relied on the decision of the ITAT Delhi Bench in the case of DCIT v Maruti Udyog Ltd., 99 ITD 666 (Del) and ONGC v DCIT, 83 ITD 151 (Del)(SB), wherein also, it 16 M/s Surya Gems was, inter alia, held that additional liability incurred by the assessee onaccount of variation in foreign exchange rate was an allowable trading liability where borrowed foreign currency was utilized to meet need of working capital. Ld Counsel for the assessee submitt…

M/S. Kiwi Foods India Pvt. Ltd., New Delhi vs. DCIT, New Delhi

ITA 2616/DEL/2013[2009-10]Status: DisposedITAT Delhi13 Apr 2016AY 2009-10

Bench: Sh. N. K. Saini, Am & Sh. Sudhanshu Srivastava, Jm

For Appellant: Sh. Vinod Kr. Bindal & Sanjeev Bindal, CAsFor Respondent: Sh. R. B. Meena, CIT DR
Section 153ASection 153CSection 68

…odya (2006) 286 ITR 383 (Del) " Satish Kumar Keshari Vs ITO (2007) 106 TTJ 980 (ITAT-Pat.) " ITO Vs Gurinder Kaur (2006) 102 ITD 189 (ITAT- Del) " CIT Vs J.K. Cotton Spinning & Weaving Mills Co. Ltd. (2005) 197 CTR 73 (All.) " DCIT Vs Maruti Udyog Ltd. (2006) 99 ITD 666 (Del-Trib) " CIT Vs Ashok Leyland Ltd. (2001) 25) ITR 452 (Mad.) " Orissa Cement Ltd. Vs CIT (2001) 117 Taxman 625/250 ITR 856 (Del) " Eicher Motors Ltd. Vs DCIT (2004) 82 TTJ (Ind.) 61 9. During the course of hearing the ld. Counsel for the assessee reiterated the contents of the aforesaid applications and requested to admit the additional ground…

M/S Kiwi Foods India Pvt. Ltd., New Delhi vs. DCIT, New Delhi

ITA 2610/DEL/2013[2004-05]Status: DisposedITAT Delhi13 Apr 2016AY 2004-05

Bench: Sh. N. K. Saini, Am & Sh. Sudhanshu Srivastava, Jm

For Appellant: Sh. Vinod Kr. Bindal & Sanjeev Bindal, CAsFor Respondent: Sh. R. B. Meena, CIT DR
Section 153ASection 153CSection 68

…odya (2006) 286 ITR 383 (Del) " Satish Kumar Keshari Vs ITO (2007) 106 TTJ 980 (ITAT-Pat.) " ITO Vs Gurinder Kaur (2006) 102 ITD 189 (ITAT- Del) " CIT Vs J.K. Cotton Spinning & Weaving Mills Co. Ltd. (2005) 197 CTR 73 (All.) " DCIT Vs Maruti Udyog Ltd. (2006) 99 ITD 666 (Del-Trib) " CIT Vs Ashok Leyland Ltd. (2001) 25) ITR 452 (Mad.) " Orissa Cement Ltd. Vs CIT (2001) 117 Taxman 625/250 ITR 856 (Del) " Eicher Motors Ltd. Vs DCIT (2004) 82 TTJ (Ind.) 61 9. During the course of hearing the ld. Counsel for the assessee reiterated the contents of the aforesaid applications and requested to admit the additional ground…

M/S. Rite Pac India Pvt. Ltd., New Delhi vs. DCIT, New Delhi

ITA 2609/DEL/2013[2008-09]Status: DisposedITAT Delhi13 Apr 2016AY 2008-09

Bench: Sh. N. K. Saini, Am & Sh. Sudhanshu Srivastava, Jm

For Appellant: Sh. Vinod Kr. Bindal & Sanjeev Bindal, CAsFor Respondent: Sh. R. B. Meena, CIT DR
Section 153ASection 153CSection 68

…odya (2006) 286 ITR 383 (Del) " Satish Kumar Keshari Vs ITO (2007) 106 TTJ 980 (ITAT-Pat.) " ITO Vs Gurinder Kaur (2006) 102 ITD 189 (ITAT- Del) " CIT Vs J.K. Cotton Spinning & Weaving Mills Co. Ltd. (2005) 197 CTR 73 (All.) " DCIT Vs Maruti Udyog Ltd. (2006) 99 ITD 666 (Del-Trib) " CIT Vs Ashok Leyland Ltd. (2001) 25) ITR 452 (Mad.) " Orissa Cement Ltd. Vs CIT (2001) 117 Taxman 625/250 ITR 856 (Del) " Eicher Motors Ltd. Vs DCIT (2004) 82 TTJ (Ind.) 61 9. During the course of hearing the ld. Counsel for the assessee reiterated the contents of the aforesaid applications and requested to admit the additional ground…

M/S. Rite Pack Industries Pvt. Ltd., New Delhi vs. DCIT, New Delhi

ITA 3053/DEL/2012[2005-06]Status: DisposedITAT Delhi13 Apr 2016AY 2005-06

Bench: Sh. N. K. Saini, Am & Sh. Sudhanshu Srivastava, Jm

For Appellant: Sh. Vinod Kr. Bindal & Sanjeev Bindal, CAsFor Respondent: Sh. R. B. Meena, CIT DR
Section 153ASection 153CSection 68

…odya (2006) 286 ITR 383 (Del) " Satish Kumar Keshari Vs ITO (2007) 106 TTJ 980 (ITAT-Pat.) " ITO Vs Gurinder Kaur (2006) 102 ITD 189 (ITAT- Del) " CIT Vs J.K. Cotton Spinning & Weaving Mills Co. Ltd. (2005) 197 CTR 73 (All.) " DCIT Vs Maruti Udyog Ltd. (2006) 99 ITD 666 (Del-Trib) " CIT Vs Ashok Leyland Ltd. (2001) 25) ITR 452 (Mad.) " Orissa Cement Ltd. Vs CIT (2001) 117 Taxman 625/250 ITR 856 (Del) " Eicher Motors Ltd. Vs DCIT (2004) 82 TTJ (Ind.) 61 9. During the course of hearing the ld. Counsel for the assessee reiterated the contents of the aforesaid applications and requested to admit the additional ground…

ACIT, New Delhi vs. M/S. Plastograph India Pvt. Ltd., New Delhi

In the result, the appeal of the assessee is allowed on the legal issue and the appeal of the department is dismissed

ITA 3557/DEL/2012[2003-04]Status: DisposedITAT Delhi09 Feb 2016AY 2003-04

Bench: Sh. N. K. Saini, Am & Sh. Sudhanshu Srivastava, Jm Ita No. 3052/Del/2012 : Asstt. Year : 2003-04 M/S Plastograph India Pvt. Ltd., Vs Dcit, 23/5, Shakti Nagar, Central Circle-25, Delhi-110007 New Delhi (Appellant) (Respondent) Ita No. 3557/Del/2012 : Asstt. Year : 2003-04 Acit, Vs M/S Plastograph India Pvt. Ltd., Central Circle-5, 23/5, Shakti Nagar, New Delhi Delhi-110007 (Appellant) (Respondent) Pan No. Aaacp7194F Assessee By : Sh. Vinod Kumar Bindal & Sanjeev Bindal, Cas Revenue By : Sh. R. B. Meena, Cit Dr Date Of Hearing : 02.02.2016 Date Of Pronouncement : 09.02.2016 Order Per N. K. Saini, Am: These Cross Appeals Are Directed Against The Order Dated 30.04.2012 Of Ld. Cit(A)-Xxxi, New Delhi.

For Appellant: Sh. Vinod Kumar Bindal & Sanjeev Bindal, CAsFor Respondent: Sh. R. B. Meena, CIT DR
Section 153ASection 254

…a (2006) 286 ITR 383 (Del) " Satish Kumar Keshari Vs ITO (2007) 106 TTJ 980 (ITAT-Pat.) " ITO Vs Gurinder Kaur (2006) 102 ITD 189 (ITAT- Del) " CIT Vs J.K. Cotton Spinning & Weaving Mills Co. Ltd. (2005) 197 CTR 73 (All.) " Dy. CIT Vs Maruti Udyog Ltd. (2006) 99 ITD 666 (Del-Trib) " CIT Vs Ashok Leyland Ltd. (2001) 250 ITR 452 (Mad.) " Orissa Cement Ltd. Vs CIT (2001) 117 Taxman 625/250 ITR 856 (Del) " Eicher Motors Ltd. Vs Dy. CIT (2004) 82 TTJ (Ind.) 61 5. The ld. DR objected for admission of the additional grounds. 6. After considering the submissions of both the parties and the material on record, we are of…

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

In the result, the appeal of the assessee is allowed on the legal issue and the appeal of the department is dismissed

ITA 3052/DEL/2012[2003-04]Status: DisposedITAT Delhi09 Feb 2016AY 2003-04

Bench: Sh. N. K. Saini, Am & Sh. Sudhanshu Srivastava, Jm Ita No. 3052/Del/2012 : Asstt. Year : 2003-04 M/S Plastograph India Pvt. Ltd., Vs Dcit, 23/5, Shakti Nagar, Central Circle-25, Delhi-110007 New Delhi (Appellant) (Respondent) Ita No. 3557/Del/2012 : Asstt. Year : 2003-04 Acit, Vs M/S Plastograph India Pvt. Ltd., Central Circle-5, 23/5, Shakti Nagar, New Delhi Delhi-110007 (Appellant) (Respondent) Pan No. Aaacp7194F Assessee By : Sh. Vinod Kumar Bindal & Sanjeev Bindal, Cas Revenue By : Sh. R. B. Meena, Cit Dr Date Of Hearing : 02.02.2016 Date Of Pronouncement : 09.02.2016 Order Per N. K. Saini, Am: These Cross Appeals Are Directed Against The Order Dated 30.04.2012 Of Ld. Cit(A)-Xxxi, New Delhi.

For Appellant: Sh. Vinod Kumar Bindal & Sanjeev Bindal, CAsFor Respondent: Sh. R. B. Meena, CIT DR
Section 153ASection 254

…a (2006) 286 ITR 383 (Del) " Satish Kumar Keshari Vs ITO (2007) 106 TTJ 980 (ITAT-Pat.) " ITO Vs Gurinder Kaur (2006) 102 ITD 189 (ITAT- Del) " CIT Vs J.K. Cotton Spinning & Weaving Mills Co. Ltd. (2005) 197 CTR 73 (All.) " Dy. CIT Vs Maruti Udyog Ltd. (2006) 99 ITD 666 (Del-Trib) " CIT Vs Ashok Leyland Ltd. (2001) 250 ITR 452 (Mad.) " Orissa Cement Ltd. Vs CIT (2001) 117 Taxman 625/250 ITR 856 (Del) " Eicher Motors Ltd. Vs Dy. CIT (2004) 82 TTJ (Ind.) 61 5. The ld. DR objected for admission of the additional grounds. 6. After considering the submissions of both the parties and the material on record, we are of…

Inventurus Knowledge Services P.Ltd, Navi Mumbai vs. ITO 5(2)(1), Mumbai

In the result appeal of the assessee company is partly allowed

ITA 5922/MUM/2013[2009-10]Status: DisposedITAT Mumbai21 Oct 2015AY 2009-10

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: - 2009-10 Inventurus Knowledge Services V. Income Tax Officer Pvt. Ltd. 5(2)(1), C/O. Seren Properties Pvt. Ltd. 525, Aaykar Bhavan, (Sez), Unit No. 204, Build No. 5, M.K. Road, Mindspace Airoli Camp, Plot No. Mumbai - 400 020. 3, Gat No. 95, Kalwa Trans, Thane Creek, Midc Industrial Area, Thane Belapur Road, Airoli, Navi Mumbai – 400 708. Pan/Gir No. Aabck4601P

…e is no finding given by the assessing officer the correctness of the Accounting Standard followed by the assessee(s) in this batch of civil appeals." 40.1 Ld counsel also relied on the decision of the ITAT Delhi Bench in the case of DCIT v Maruti Udyog Ltd., 99 ITD 666 (Del) and ONGC v DCIT, 83 ITD 151 (Del)(SB), wherein also, it was, inter alia, held that additional liability incurred by the assessee on account of variation in foreign exchange rate was an allowable trading liability where borrowed foreign currency was utilized to meet need of working capital. Ld counsel for the assessee submitted that there is…

DCIT v. Maruti Udyog Ltd. (99 ITD 666) — Cited in 8 Judgments | BharatTax