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 367,164 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.

DCIT(Ltu) - 1, Mumbai vs. Acc Ltd., Mumbai

In the result, appeal filed by assessee is partly allowed

ITA 3246/MUM/2018[2012-13]Status: DisposedITAT Mumbai28 Feb 2023AY 2012-13

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)

Section 143(3)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…

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

ITA 3203/MUM/2018[2012-13]Status: DisposedITAT Mumbai28 Feb 2023AY 2012-13

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)

Section 143(3)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…

Acc Ltd, Mumbai vs. Asst CIT Ltu, Mumbai

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

ITA 6082/MUM/2014[2007-08]Status: DisposedITAT Mumbai28 Feb 2023AY 2007-08

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

Section 143(3)Section 145A

…e, and yet by applying purpose test, it was held that subsidy was on capital account. 16 ITA NO.4669& 4556/MUM/2012 (A.Y: 2007-08) M/s. ACC Limited 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…

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

ITA 417/MUM/2014[2006-07]Status: DisposedITAT Mumbai28 Feb 2023AY 2006-07

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)

Section 143(3)Section 145ASection 251Section 44A

…ess 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…

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

ITA 4669/MUM/2012[2007-08]Status: DisposedITAT Mumbai28 Feb 2023AY 2007-08

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

Section 143(3)Section 145A

…e, and yet by applying purpose test, it was held that subsidy was on capital account. 16 ITA NO.4669& 4556/MUM/2012 (A.Y: 2007-08) M/s. ACC Limited 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…

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

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

ITA 4556/MUM/2012[2007-08]Status: DisposedITAT Mumbai28 Feb 2023AY 2007-08

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

Section 143(3)Section 145A

…e, and yet by applying purpose test, it was held that subsidy was on capital account. 16 ITA NO.4669& 4556/MUM/2012 (A.Y: 2007-08) M/s. ACC Limited 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…

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

ITA 5692/MUM/2011[2006-07]Status: DisposedITAT Mumbai28 Feb 2023AY 2006-07

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)

Section 143(3)Section 145ASection 251Section 44A

…ess 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…

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

ITA 5655/MUM/2011[2006-07]Status: DisposedITAT Mumbai28 Feb 2023AY 2006-07

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)

Section 143(3)Section 145ASection 251Section 44A

…ess 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…

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

In the result, appeal filed by assessee is partly allowed

ITA 3786/MUM/2009[2005-06]Status: DisposedITAT Mumbai28 Feb 2023AY 2005-06

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)

Section 14ASection 14A(1)

…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. 24 ITA NO.3490& 3786/MUM/2009 (A.Y: 2005-06) M/s. ACC Limited 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 th…

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

ITA 3490/MUM/2009[2005-06]Status: DisposedITAT Mumbai28 Feb 2023AY 2005-06

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)

Section 14ASection 14A(1)

…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. 24 ITA NO.3490& 3786/MUM/2009 (A.Y: 2005-06) M/s. ACC Limited 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 th…

Srf Ltd., Gurgaon vs. Addl CIT, New Delhi

In the result, this ground of the assessee is allowed for statistical purposes

ITA 774/DEL/2017[2009-10]Status: DisposedITAT Delhi23 Feb 2023AY 2009-10

Bench: Sh. Anil Chaturvedi & Sh. Yogesh Kumar Ussrf Limited Vs. Acit Unitech Crest, Greenwood Range – 9, City Block – C, Sector – 45, Ltu, New Delhi Gurgaon – 122 003 Pan No. Aaacs 0206 P (Appellant) (Respondent) Assessee By Shri Pradeep Dinodia, Shri R. K. Kapoor C.A. Shri Ravi Kumar Revenue By Shri Mahesh Shah, Cit (Dr) Shri Rajesh Kumar, Cit (Dr) Date Of Hearing: 10/01/2023 Date Of Pronouncement: 23/02/2023 Order Per Anil Chaturvedi, Am: The Present Appeal Is Filed By The Assessee Directed Against The Order Dated 27.09.2016 Of The Commissioner Of Income Tax (Appeals)-44, New Delhi [For Short, Cit(A)] Under Section 143(3) R.W.S 144C Of The Income Tax Act, 1961 [For Short, 'The Act'] For Assessment Year 2009-10. 2. Brief Facts Of The Case As Culled Out From The Material On Record Are As Under:-

Section 143(2)Section 143(3)Section 144CSection 14ASection 92C

…gh Court  CIT vs.- Ponni Sugars & Chemicals Ltd. reported in (2008) 306 ITR 392 (SC)  CIT vs.- Rasoi Ltd. [(2011) 335 ITR 438 (Cal.)]  CIT v. Chaphalkar Brothers [2017] 88 taxmann.com 178 (SC)/ (2018) 400 ITR 279 (SC)  DCIT vs.- Reliance Industries (2004) 88 ITD 273 (Mum.)(SB);  CIT vs. Birla VXL Lt d. (2013) 90 DTR 376 (Guj.)(HC);  Hydro Carbons & Chemicals vs.- ACIT (ITA No. 1982- 86/Kol/09);  Indo Rama Synthetics (I) Ltd. vs. ACIT (2012) 33 CCH 526 (Del.)(ITAT).  CIT v Gloster Jute mills Ltd ITA no. 766/Kol/2010  Shree Balaji Alloys v. CIT [2011] 333 ITR 335/198 Taxman 122/9 taxmann.com 255 (J&K) 25.…

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

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 715/MUM/2020[2008-09]Status: DisposedITAT Mumbai31 Jan 2023AY 2008-09

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…pect of the matter in issue. Further, the Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax subsidy received under the Package Scheme of Incentives, 1979 subsidy received under the Package Scheme of Incentives, 1979 subsidy received under the Package Scheme of Incentives, 1979 is for the purpos…

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

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 654/MUM/2020[2012-13]Status: DisposedITAT Mumbai31 Jan 2023AY 2012-13

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…pect of the matter in issue. Further, the Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax subsidy received under the Package Scheme of Incentives, 1979 subsidy received under the Package Scheme of Incentives, 1979 subsidy received under the Package Scheme of Incentives, 1979 is for the purpos…

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

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 653/MUM/2020[2013-14]Status: DisposedITAT Mumbai31 Jan 2023AY 2013-14

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…pect of the matter in issue. Further, the Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax subsidy received under the Package Scheme of Incentives, 1979 subsidy received under the Package Scheme of Incentives, 1979 subsidy received under the Package Scheme of Incentives, 1979 is for the purpos…

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

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 1423/MUM/2020[2008-09]Status: DisposedITAT Mumbai31 Jan 2023AY 2008-09

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…pect of the matter in issue. Further, the Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax subsidy received under the Package Scheme of Incentives, 1979 subsidy received under the Package Scheme of Incentives, 1979 subsidy received under the Package Scheme of Incentives, 1979 is for the purpos…

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

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 7794/MUM/2019[2013-14]Status: DisposedITAT Mumbai31 Jan 2023AY 2013-14

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…pect of the matter in issue. Further, the Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax subsidy received under the Package Scheme of Incentives, 1979 subsidy received under the Package Scheme of Incentives, 1979 subsidy received under the Package Scheme of Incentives, 1979 is for the purpos…

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

In the result, the In the result, the assessee and Revenue are are educated as under:

ITA 7793/MUM/2019[2012-13]Status: DisposedITAT Mumbai31 Jan 2023AY 2012-13

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14 Everest Industries Limited, Dcit, Circle-1, D-206, Sector-63, Noida- Ashar I.T. Park, 6Th Floor, B- 201301, Vs. Wing, 16-Z, Wagle Industrial Uttar Pradesh Estate, Thane(W)- 400 604. Pan No. Aaace 7550 N Appellant Respondent Assessment Year: 2008-09 & Assessment Year: 2009-10 & Assessment Year: 2012-13 & Assessment Year: 2013-14

For Appellant: Mr. Yogesh Thar/
Section 115J

…pect of the matter in issue. Further, the Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Special Bench of the Tribunal in the case of Dy. CIT v. Reliance Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax Industries Lid. (2004] 88 ITD 273 (Mum) held that sales tax subsidy received under the Package Scheme of Incentives, 1979 subsidy received under the Package Scheme of Incentives, 1979 subsidy received under the Package Scheme of Incentives, 1979 is for the purpos…

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

ITA 655/MUM/2020[2011-12]Status: DisposedITAT Mumbai20 Jan 2023AY 2011-12

Bench: Shri Kuldip Singh & Shri S. Rifaur Rahmanassessment Year: 2011-12

For Appellant: Shri Yogesh Thar, A.R. &For Respondent: Shri Sanjeev Kashyap, D.R
Section 43(1)

…sue is fully covered in assessee’s own case in ITA.No.814/Mum/2007 for the A.Y. 2003-04 wherein the Tribunal allowed relief in respect of the matter in issue. Further, the Special Bench of the Tribunal in the case of DCIT vs., Reliance Industries Ltd., [2004] 88 ITD 273 (Mum) held that sales tax subsidy received under the Package Scheme of Incentives, 1979 is for the purpose of industrial development of the backward districts as well as generation of employment, thus, establishing a direct nexus with the investment in fixed capital assets and hence, a capital receipt. Against this Special Bench order of the Tribu…

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

In the result, both the appeal

ITA 1429/MUM/2020[2010-11]Status: DisposedITAT Mumbai20 Jan 2023AY 2010-11

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2010-11 Dcit, Circle-1, Thane, M/S Everest Industries Room No. 22, B-Wing, 6Th Floor, Limited, Ashar It Park, Wagle Industrial Vs. G-1, A-32, Genesis Mohan Estate, Coop. Industries, Mathura Thane(W)-400604. Road, New Delhi-110044. Pan No. Aaace 7550 N Appellant Respondent Assessee By : Mr. Yogesh Thar/Shri Chaitanya Joshi, Ar : Revenue By Ms. Richa Gulati, Dr & Mr. Ashok Singh, Cit-Dr : Date Of Hearing 18/01/2023 : Date Of Pronouncement 20/01/2023

For Appellant: Mr. Yogesh Thar/Shri Chaitanya

…n'ble ITAT that this issue is squarely covered by the decision of the Special Bench in the case of covered by the decision of the Special Bench in the case of covered by the decision of the Special Bench in the case of DCIT vs. Reliance Industries Ltd. (2004) 88 ITD 273 Reliance Industries Ltd. (2004) 88 ITD 273 Reliance Industries Ltd. (2004) 88 ITD 273 (Mum)(SB).” 4.1 The Ld. CIT(A) further referred to the finding of the Ld. CIT(A) The Ld. CIT(A) further referred to the finding of the Ld. CIT(A) The Ld. CIT(A) further referred to the finding of the Ld. CIT(A)- 3, Nashik to support his finding. The Ld. CIT(A) a…

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

In the result, both the appeal

ITA 1422/MUM/2020[2008-09]Status: DisposedITAT Mumbai20 Jan 2023AY 2008-09

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2008-09 & Assessment Year: 2010-11 Dcit, Circle-1, Thane, M/S Everest Industries Room No. 22, B-Wing, 6Th Floor, Limited, Ashar It Park, Wagle Industrial Vs. G-1, A-32, Genesis Mohan Estate, Coop. Industries, Mathura Thane(W)-400604. Road, New Delhi-110044. Pan No. Aaace 7550 N Appellant Respondent Assessee By : Mr. Yogesh Thar/Shri Chaitanya Joshi, Ar : Revenue By Ms. Richa Gulati, Dr & Mr. Ashok Singh, Cit-Dr : Date Of Hearing 18/01/2023 : Date Of Pronouncement 20/01/2023

For Appellant: Mr. Yogesh Thar/Shri Chaitanya

…n'ble ITAT that this issue is squarely covered by the decision of the Special Bench in the case of covered by the decision of the Special Bench in the case of covered by the decision of the Special Bench in the case of DCIT vs. Reliance Industries Ltd. (2004) 88 ITD 273 Reliance Industries Ltd. (2004) 88 ITD 273 Reliance Industries Ltd. (2004) 88 ITD 273 (Mum)(SB).” 4.1 The Ld. CIT(A) further referred to the finding of the Ld. CIT(A) The Ld. CIT(A) further referred to the finding of the Ld. CIT(A) The Ld. CIT(A) further referred to the finding of the Ld. CIT(A)- 3, Nashik to support his finding. The Ld. CIT(A) a…