DCIT v. Reliance Industries Ltd.

88 ITD 273Income Tax Appellate Tribunal2004#576 most cited

What is DCIT v. Reliance Industries Ltd. authority for?

Interest, sales tax, and purchase tax subsidies received by an assessee are generally considered capital receipts, not revenue income, for income tax purposes.

169

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2015 to 2025.

Also referred to as

DCIT v. Reliance Industries Ltd. · 88 ITD 273 · capital receipt · revenue receipt · nature of subsidy · interest subsidy · sales tax subsidy · purchase tax subsidy · Special Bench ITAT · Section 2(24) · Section 43(1)

Sections most often in play

Section 143(3)Section 153ASection 139(1)Section 147Section 132Section 139(5)Section 148Section 154

Issues it is cited on

section 2(24)(xviii)section 32(1)(iia)section 80hsection 43(1)section 43ainitial assessment yearsection 80hhcsection 80hhblock of assetsadditional depreciationwritten down valuededuction under section 80ia

Judgments citing DCIT v. Reliance Industries Ltd.

Commissioner of Income Tax-IV vs. Mis Indo Rama Synthetics Ltd

The appeals are disposed of in the aforesaid terms

ITA/397/2014HC Delhi23 Jan 2024

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…Page 6 of 23 respondent/assessee) was similar to an earlier avatar of the scheme, i.e., 1979 Scheme, which was considered by its special bench of the Tribunal in the matter of DCIT v. Reliance Industries Ltd (2004) 88 ITD 273 (Mum) (SB). This direction was issued by the Tribunal on 01.02.2006. 8. Upon remand by the Tribunal, submissions were advanced before the AO qua the matter concerning sales tax subsidy on 28.12.2007. 8.1. The AO, however, was not persuaded by the arguments advanced on behalf of the respondent/assessee and, accordingly, via order dated…

Commissioner of Income Tax-IV vs. Mis Indo Rama Synthetics (I) Ltd

The appeals are disposed of in the aforesaid terms

ITA/394/2014HC Delhi23 Jan 2024

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…Page 6 of 23 respondent/assessee) was similar to an earlier avatar of the scheme, i.e., 1979 Scheme, which was considered by its special bench of the Tribunal in the matter of DCIT v. Reliance Industries Ltd (2004) 88 ITD 273 (Mum) (SB). This direction was issued by the Tribunal on 01.02.2006. 8. Upon remand by the Tribunal, submissions were advanced before the AO qua the matter concerning sales tax subsidy on 28.12.2007. 8.1. The AO, however, was not persuaded by the arguments advanced on behalf of the respondent/assessee and, accordingly, via order dated…

Cornmisstorrer of Income Tax-IV vs. Mis Indo Rama Synthetics Ltd

The appeals are disposed of in the aforesaid terms

ITA/398/2014HC Delhi23 Jan 2024

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

…Page 6 of 23 respondent/assessee) was similar to an earlier avatar of the scheme, i.e., 1979 Scheme, which was considered by its special bench of the Tribunal in the matter of DCIT v. Reliance Industries Ltd (2004) 88 ITD 273 (Mum) (SB). This direction was issued by the Tribunal on 01.02.2006. 8. Upon remand by the Tribunal, submissions were advanced before the AO qua the matter concerning sales tax subsidy on 28.12.2007. 8.1. The AO, however, was not persuaded by the arguments advanced on behalf of the respondent/assessee and, accordingly, via order dated…

ACIT 1(1), Mumbai vs. Blue Star Ltd, Mumbai

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

ITA 5550/MUM/2011[2006-07]Status: DisposedITAT Mumbai30 Nov 2023AY 2006-07

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Blue Star Ltd. The Addl. Cit, Range 1(1), Kasturi Building, Mohan T Advani Aaykar Bhavan, Mumbai Vs. Chowk, Jamshedji Tata Road, Mumbai-400 020 Pan/Gir No. Aaacb 4487 D (Assessee) (Revenue) : The Addl. Cit, Range 1(1), Blue Star Ltd. Aaykar Bhavan, Mumbai Kasturi Building, Mohan T Advani Vs. Chowk, Jamshedji Tata Road, Mumbai-400 020 Pan/Gir No. Aaacb 4487 D (Revenue) : (Assessee)

For Appellant: Shri Niraj Sheth
Section 115Section 145ASection 250Section 40Section 43B

…employment opportunities. The assessee stated that the said subsidy is capital as the same was granted for set up of industry in backward areas. The assessee relied on the decision of the Special Bench in the case of DCIT vs. Reliance Industries Ltd. [2004] 88 ITD 273 (Mum) and the Hon'ble Apex Court decision in the case of CIT v. Ponni Sugars & Chemicals Ltd. [2008] 306 ITR 392 (SC), wherein it was held that while determining the character of receipt the purpose for which the subsidiary is given has to be considered by the purpose test and the time and source as to when it was granted becomes irrelevant. The…

Blue Star Ltd, Mumbai vs. Addl CIT RG 1(1), Mumbai

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

ITA 4792/MUM/2011[2006-07]Status: DisposedITAT Mumbai30 Nov 2023AY 2006-07

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Blue Star Ltd. The Addl. Cit, Range 1(1), Kasturi Building, Mohan T Advani Aaykar Bhavan, Mumbai Vs. Chowk, Jamshedji Tata Road, Mumbai-400 020 Pan/Gir No. Aaacb 4487 D (Assessee) (Revenue) : The Addl. Cit, Range 1(1), Blue Star Ltd. Aaykar Bhavan, Mumbai Kasturi Building, Mohan T Advani Vs. Chowk, Jamshedji Tata Road, Mumbai-400 020 Pan/Gir No. Aaacb 4487 D (Revenue) : (Assessee)

For Appellant: Shri Niraj Sheth
Section 115Section 145ASection 250Section 40Section 43B

…employment opportunities. The assessee stated that the said subsidy is capital as the same was granted for set up of industry in backward areas. The assessee relied on the decision of the Special Bench in the case of DCIT vs. Reliance Industries Ltd. [2004] 88 ITD 273 (Mum) and the Hon'ble Apex Court decision in the case of CIT v. Ponni Sugars & Chemicals Ltd. [2008] 306 ITR 392 (SC), wherein it was held that while determining the character of receipt the purpose for which the subsidiary is given has to be considered by the purpose test and the time and source as to when it was granted becomes irrelevant. The…

The Supreme Industrial Ltd, Mumbai vs. Asst CIT Ltu Circle, Mumbai

In the result, the appeal of the assessee is partly allowed

ITA 7598/MUM/2019[2015-16]Status: DisposedITAT Mumbai03 Oct 2023AY 2015-16

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No. 7598/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2015-16) The Supreme Industries Ltd. Acit Ltu, Circle, बिधम/ 612, Raheja Chambers, Free Mumbai Vs. Press Journal Marg, Room No. X, 29Th Floor, Nariman Point, Mumbai- World Trade Centre-1, 400021. Cuffee Parade, Mumbai- 400005. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaact1344F (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Nitesh Joshi & Shri Harsh Shah Revenue By: Shri Manoj Kumar (Cit- Dr) सुनवाई की तारीख / Date Of Hearing: 07/07/2023 घोषणा की तारीख /Date Of Pronouncement: 03/10/2023 आदेश / O R D E R

For Appellant: Shri Nitesh Joshi & Shri Harsh ShahFor Respondent: Shri Manoj Kumar (CIT- DR)
Section 143(3)Section 17(1)Section 197Section 40ASection 40A(2)Section 40A(2)(b)Section 92BSection 92C

…. It can be before the start of production or after the commencement of production or after effecting the sales. What is important is that for what purpose the subsidy is given. Special Bench of the Tribunal in the case of DCIT v. Reliance Industries Limited (88 ITD 273) has held that 'after incentive is given for setting up or expansion of industry in a backward area, it will be capital, irrespective of modality or source of funds through or from which it is given. 13. In the case of assessee maximum amount of assistances permissible is the total eligible investment stated in the sanctioned letter which is Rs.1…

Everest Industries Ltd., Noida vs. Dy CIT Circle- 1, Thane

In the result, the appeal of the Revenue is dismissed whereas

ITA 717/MUM/2020[2006-07]Status: DisposedITAT Mumbai21 Aug 2023AY 2006-07

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2006-07 Everest Industries Ltd., Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- Vs. 201301, Uttar Pradesh, India. Wing 16-Z, Wagle Industrial Estate, Thane (W)-400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2006-07 Dcit, Circle-1, Everest Industries Ltd., Ashar I.T. Park, 6Th Floor, B- G-1, A-32, Genesis Mohan Vs. Wing 16-Z, Wagle Industrial Coop. Industries, Mathura Estate, Thane (W)-400 604. Road, New Delhi-110044. Pan No. Aaace 7550 N Appellant Respondent

For Appellant: Mr. Yogesh Thar a/w Mr. Chaitanya JoshiFor Respondent: Mr. Alok Kumar, CIT-DR

…that this issue is squarely covered by the decision of the Special Bench in the case of DCIT covered by the decision of the Special Bench in the case of DCIT covered by the decision of the Special Bench in the case of DCIT vs. Reliance Industries Ltd. (2004) 88 ITD 273 (Mum)(SB). liance Industries Ltd. (2004) 88 ITD 273 (Mum)(SB). liance Industries Ltd. (2004) 88 ITD 273 (Mum)(SB).” 4.3.1 Further, the Ld. CIT(A) also relied on the order of his Further, the Ld. CIT(A) also relied on the order of his Further, the Ld. CIT(A) also relied on the order of his predecessor for assessment year 2010 predecessor for assess…

DCIT, Circle-1, Thane vs. Everest Industries Ltd., Mumbai

In the result, the appeal of the Revenue is dismissed whereas

ITA 1421/MUM/2020[2006-07]Status: DisposedITAT Mumbai21 Aug 2023AY 2006-07

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale () Assessment Year: 2006-07 Everest Industries Ltd., Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- Vs. 201301, Uttar Pradesh, India. Wing 16-Z, Wagle Industrial Estate, Thane (W)-400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2006-07 Dcit, Circle-1, Everest Industries Ltd., Ashar I.T. Park, 6Th Floor, B- G-1, A-32, Genesis Mohan Vs. Wing 16-Z, Wagle Industrial Coop. Industries, Mathura Estate, Thane (W)-400 604. Road, New Delhi-110044. Pan No. Aaace 7550 N Appellant Respondent

For Appellant: Mr. Yogesh Thar a/w Mr. Chaitanya JoshiFor Respondent: Mr. Alok Kumar, CIT-DR

…that this issue is squarely covered by the decision of the Special Bench in the case of DCIT covered by the decision of the Special Bench in the case of DCIT covered by the decision of the Special Bench in the case of DCIT vs. Reliance Industries Ltd. (2004) 88 ITD 273 (Mum)(SB). liance Industries Ltd. (2004) 88 ITD 273 (Mum)(SB). liance Industries Ltd. (2004) 88 ITD 273 (Mum)(SB).” 4.3.1 Further, the Ld. CIT(A) also relied on the order of his Further, the Ld. CIT(A) also relied on the order of his Further, the Ld. CIT(A) also relied on the order of his predecessor for assessment year 2010 predecessor for assess…

ACIT, New Delhi vs. M/S. Cosmo Films Ltd., New Delhi

In the result, the appeal for A

ITA 5040/DEL/2013[2006-07]Status: DisposedITAT Delhi26 Jul 2023AY 2006-07

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri T. James Singson, CIT- DR
Section 10BSection 43(1)

…to the Tribunal in the first round of litigation and the Tribunal in ITA No. 2831/DEL/07 and others have given a categorical finding that Sales Tax subsidy is of capital in nature, following the Special Bench decision in the case of Reliance Industries Ltd 88 ITD 273, which was subsequently affirmed by the Hon’ble High Court of Bombay. 5. Respectfully following the decision of the Coordinate Bench, Sales Tax subsidy is treated as capital receipt. 6. This quarrel settled for A.Ys 2004-05, 2005–06 and 2006–07, but in A.Y 2007–08, the Assessing Officer recomputed the depreciation by reducing the capital subsid…

ACIT, New Delhi vs. M/S. Cosmo Films Ltd., New Delhi

In the result, the appeal for A

ITA 5039/DEL/2013[2005-06]Status: DisposedITAT Delhi26 Jul 2023AY 2005-06

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri T. James Singson, CIT- DR
Section 10BSection 43(1)

…to the Tribunal in the first round of litigation and the Tribunal in ITA No. 2831/DEL/07 and others have given a categorical finding that Sales Tax subsidy is of capital in nature, following the Special Bench decision in the case of Reliance Industries Ltd 88 ITD 273, which was subsequently affirmed by the Hon’ble High Court of Bombay. 5. Respectfully following the decision of the Coordinate Bench, Sales Tax subsidy is treated as capital receipt. 6. This quarrel settled for A.Ys 2004-05, 2005–06 and 2006–07, but in A.Y 2007–08, the Assessing Officer recomputed the depreciation by reducing the capital subsid…

ACIT, New Delhi vs. M/S. Cosmo Films Ltd., New Delhi

In the result, the appeal for A

ITA 5038/DEL/2013[2004-05]Status: DisposedITAT Delhi26 Jul 2023AY 2004-05

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri T. James Singson, CIT- DR
Section 10BSection 43(1)

…to the Tribunal in the first round of litigation and the Tribunal in ITA No. 2831/DEL/07 and others have given a categorical finding that Sales Tax subsidy is of capital in nature, following the Special Bench decision in the case of Reliance Industries Ltd 88 ITD 273, which was subsequently affirmed by the Hon’ble High Court of Bombay. 5. Respectfully following the decision of the Coordinate Bench, Sales Tax subsidy is treated as capital receipt. 6. This quarrel settled for A.Ys 2004-05, 2005–06 and 2006–07, but in A.Y 2007–08, the Assessing Officer recomputed the depreciation by reducing the capital subsid…

ACIT, New Delhi vs. M/S. Cosmo Films Ltd., New Delhi

In the result, the appeal for A

ITA 6504/DEL/2012[2008-09]Status: DisposedITAT Delhi26 Jul 2023AY 2008-09

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri T. James Singson, CIT- DR
Section 10BSection 43(1)

…to the Tribunal in the first round of litigation and the Tribunal in ITA No. 2831/DEL/07 and others have given a categorical finding that Sales Tax subsidy is of capital in nature, following the Special Bench decision in the case of Reliance Industries Ltd 88 ITD 273, which was subsequently affirmed by the Hon’ble High Court of Bombay. 5. Respectfully following the decision of the Coordinate Bench, Sales Tax subsidy is treated as capital receipt. 6. This quarrel settled for A.Ys 2004-05, 2005–06 and 2006–07, but in A.Y 2007–08, the Assessing Officer recomputed the depreciation by reducing the capital subsid…

ACIT, New Delhi vs. M/S. Cosmo Films Ltd., New Delhi

In the result, the appeal for A

ITA 2844/DEL/2012[2007-08]Status: DisposedITAT Delhi26 Jul 2023AY 2007-08

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri T. James Singson, CIT- DR
Section 10BSection 43(1)

…to the Tribunal in the first round of litigation and the Tribunal in ITA No. 2831/DEL/07 and others have given a categorical finding that Sales Tax subsidy is of capital in nature, following the Special Bench decision in the case of Reliance Industries Ltd 88 ITD 273, which was subsequently affirmed by the Hon’ble High Court of Bombay. 5. Respectfully following the decision of the Coordinate Bench, Sales Tax subsidy is treated as capital receipt. 6. This quarrel settled for A.Ys 2004-05, 2005–06 and 2006–07, but in A.Y 2007–08, the Assessing Officer recomputed the depreciation by reducing the capital subsid…

Acc Limited, Mumbai vs. DCIT (Ltu), Mumbai

In the result, appeal filed by department is dismissed

ITA 800/MUM/2022[2013-14]Status: DisposedITAT Mumbai30 Jun 2023AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms Kavitha Rajagopal, Hon'Blem/S. Acc Limited V. Dcit (Ltu) 121, Cement House, M.K. Road 29Th Floor, Center-1 Churchgate, Mumbai-400020 World Trade Centre, Cuffe Parade Mumbai - 400005 Pan: Aaact1507C (Appellant) (Respondent) Asst. Cit – 3(4) V. M/S. Acc Limited 29Th Floor, Center-1 Cement House,121, M.K. Road World Trade Centre, Cuffe Parade Churchgate, Mumbai-400020 Mumbai-400005 Pan: Aaact1507C (Appellant) (Respondent)

Section 14A

…ness and to be availed within 9,10 &12 years, as the case may be, and yet by applying purpose test, it was held that subsidy was on capital account. 5.4. Applicability of Special Bench decision of Mumbai Tribunal in the case of Reliance Industries reported in 88 ITD 273. The ld. Special Counsel for the Revenue vehemently submitted that the decision of the Hon’ble Special Bench has been reversed by the Hon’ble Supreme Court by remitting the matter back to the Hon’ble Bombay High Court. First of all, it would be relevant to bring on record the crux of the decision of the Special Bench in the case of Reliance Indust…

Asst. Commissioner of Income Tax-3(4), Mumbai-400005 vs. M/S. Acc Limited, Mumbai-400020

In the result, appeal filed by department is dismissed

ITA 1171/MUM/2022[2013-14]Status: DisposedITAT Mumbai30 Jun 2023AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms Kavitha Rajagopal, Hon'Blem/S. Acc Limited V. Dcit (Ltu) 121, Cement House, M.K. Road 29Th Floor, Center-1 Churchgate, Mumbai-400020 World Trade Centre, Cuffe Parade Mumbai - 400005 Pan: Aaact1507C (Appellant) (Respondent) Asst. Cit – 3(4) V. M/S. Acc Limited 29Th Floor, Center-1 Cement House,121, M.K. Road World Trade Centre, Cuffe Parade Churchgate, Mumbai-400020 Mumbai-400005 Pan: Aaact1507C (Appellant) (Respondent)

Section 14A

…ness and to be availed within 9,10 &12 years, as the case may be, and yet by applying purpose test, it was held that subsidy was on capital account. 5.4. Applicability of Special Bench decision of Mumbai Tribunal in the case of Reliance Industries reported in 88 ITD 273. The ld. Special Counsel for the Revenue vehemently submitted that the decision of the Hon’ble Special Bench has been reversed by the Hon’ble Supreme Court by remitting the matter back to the Hon’ble Bombay High Court. First of all, it would be relevant to bring on record the crux of the decision of the Special Bench in the case of Reliance Indust…

Everest Industries Ltd., Noida vs. Dy CIT Circle- 1, Thane

In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the assessee are a...

ITA 720/MUM/2020[2016-17]Status: DisposedITAT Mumbai30 Jun 2023AY 2016-17

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant ()

For Appellant: Mr. Yogesh Thar/For Respondent: Mr. Biswanath Das, CIT-DR/

…Ltd. (306IT 392), Shree Cement Ltd. Vs. Addl. CIT (031 IT. Trib.513), CIT Vs. Rasoi Ltd.(335 IT 438), DCIT CIT (031 IT. Trib.513), CIT Vs. Rasoi Ltd.(335 IT 438), DCIT CIT (031 IT. Trib.513), CIT Vs. Rasoi Ltd.(335 IT 438), DCIT Vs. Reliance Industries Ltd. (88 ITD 273 (Mumbai SB), CIT Vs. Reliance Industries Ltd. (88 ITD 273 (Mumbai SB), CIT Vs. Reliance Industries Ltd. (88 ITD 273 (Mumbai SB), CIT Vs.Kirloskar Oil Engines Ltd. (364 IT 88). John Deere India Vs.Kirloskar Oil Engines Ltd. (364 IT 88). John Deere India Vs.Kirloskar Oil Engines Ltd. (364 IT 88). John Deere India (P.) Ltd. Vs. ITO (82 t (P.) Ltd. Vs…

Everest Industries Ltd., Noida vs. Dy CIT Circle- 1, Thane

In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the assessee are a...

ITA 719/MUM/2020[2015-16]Status: DisposedITAT Mumbai30 Jun 2023AY 2015-16

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant ()

For Appellant: Mr. Yogesh Thar/For Respondent: Mr. Biswanath Das, CIT-DR/

…Ltd. (306IT 392), Shree Cement Ltd. Vs. Addl. CIT (031 IT. Trib.513), CIT Vs. Rasoi Ltd.(335 IT 438), DCIT CIT (031 IT. Trib.513), CIT Vs. Rasoi Ltd.(335 IT 438), DCIT CIT (031 IT. Trib.513), CIT Vs. Rasoi Ltd.(335 IT 438), DCIT Vs. Reliance Industries Ltd. (88 ITD 273 (Mumbai SB), CIT Vs. Reliance Industries Ltd. (88 ITD 273 (Mumbai SB), CIT Vs. Reliance Industries Ltd. (88 ITD 273 (Mumbai SB), CIT Vs.Kirloskar Oil Engines Ltd. (364 IT 88). John Deere India Vs.Kirloskar Oil Engines Ltd. (364 IT 88). John Deere India Vs.Kirloskar Oil Engines Ltd. (364 IT 88). John Deere India (P.) Ltd. Vs. ITO (82 t (P.) Ltd. Vs…

DCIT Circle-1, Thane vs. M/S Everest Industries Ltd., Delhi

In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the assessee are a...

ITA 652/MUM/2020[2014-15]Status: DisposedITAT Mumbai30 Jun 2023AY 2014-15

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant ()

For Appellant: Mr. Yogesh Thar/For Respondent: Mr. Biswanath Das, CIT-DR/

…Ltd. (306IT 392), Shree Cement Ltd. Vs. Addl. CIT (031 IT. Trib.513), CIT Vs. Rasoi Ltd.(335 IT 438), DCIT CIT (031 IT. Trib.513), CIT Vs. Rasoi Ltd.(335 IT 438), DCIT CIT (031 IT. Trib.513), CIT Vs. Rasoi Ltd.(335 IT 438), DCIT Vs. Reliance Industries Ltd. (88 ITD 273 (Mumbai SB), CIT Vs. Reliance Industries Ltd. (88 ITD 273 (Mumbai SB), CIT Vs. Reliance Industries Ltd. (88 ITD 273 (Mumbai SB), CIT Vs.Kirloskar Oil Engines Ltd. (364 IT 88). John Deere India Vs.Kirloskar Oil Engines Ltd. (364 IT 88). John Deere India Vs.Kirloskar Oil Engines Ltd. (364 IT 88). John Deere India (P.) Ltd. Vs. ITO (82 t (P.) Ltd. Vs…

DCIT, Circle-1, Thane vs. Everest Industries Ltd., Mumbai

In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the In the result, appeals of the Revenue as well appeals of the assessee are a...

ITA 1424/MUM/2020[2015-16]Status: DisposedITAT Mumbai30 Jun 2023AY 2015-16

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant ()

For Appellant: Mr. Yogesh Thar/For Respondent: Mr. Biswanath Das, CIT-DR/

…Ltd. (306IT 392), Shree Cement Ltd. Vs. Addl. CIT (031 IT. Trib.513), CIT Vs. Rasoi Ltd.(335 IT 438), DCIT CIT (031 IT. Trib.513), CIT Vs. Rasoi Ltd.(335 IT 438), DCIT CIT (031 IT. Trib.513), CIT Vs. Rasoi Ltd.(335 IT 438), DCIT Vs. Reliance Industries Ltd. (88 ITD 273 (Mumbai SB), CIT Vs. Reliance Industries Ltd. (88 ITD 273 (Mumbai SB), CIT Vs. Reliance Industries Ltd. (88 ITD 273 (Mumbai SB), CIT Vs.Kirloskar Oil Engines Ltd. (364 IT 88). John Deere India Vs.Kirloskar Oil Engines Ltd. (364 IT 88). John Deere India Vs.Kirloskar Oil Engines Ltd. (364 IT 88). John Deere India (P.) Ltd. Vs. ITO (82 t (P.) Ltd. Vs…

Puri Oil Mills Ltd, New Delhi vs. ACIT, Circle-20(1), New Delhi

In the result, the appeal of the assessee is partly allowed

ITA 7726/DEL/2019[2013-14]Status: DisposedITAT Delhi30 Jun 2023AY 2013-14

Bench: Dr. B. R. R. Kumar & Sh. Yogesh Kumar U.S.

Section 143(3)Section 2(24)Section 44A

…enable the assessee to set up a new unit or to expand and existing unit then the receipt of the subsidy would be on capital account." The assessee also relies upon the following judicial precedents in its favor 1) Dy. CT v. Reliance Industries Ltd. (Mum)-SB 88 ITD 273 2) CIT v Reliance Industries Ltd. (Bom)-339 ITR 632 3. Balaji Alloys & Ors. Vs. CIT(A) (J & K) 333 ITR 335 15. The documents produced by the assessee and the contentions raised by the assessee had been adjudicated by the A.O. during the original assessment wherein the A.O. has specifically examined the issue of capital subsidy received/accru…