Digital Electronics Ltd. v. ACIT

135 TTJ 419Income Tax Appellate Tribunal2011#16675 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2018 to 2025.

Issues it is cited on

section 251(l)(a)section 31(3)section 36(i)(iii)section 54e section 112 section 72 section 31 section 119(2)interest free advances section 119(2)(b)unabsorbed depreciation short term capital gains

Judgments citing Digital Electronics Ltd. v. ACIT

Dy. Commissioner of Income Tax, Central Circle-3(3), Mumbai vs. Phulchand Exports Private Limited, Mumbai

In the result, appeals of the Revenue in ITA No

ITA 3103/MUM/2025[2019-20]Status: DisposedITAT Mumbai04 Aug 2025AY 2019-20

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

For Appellant: Shri Shankarlal Jain & Shri Satish KumarFor Respondent: Shri R.A Dhyani, (CIT-DR)

Section 132Section 143(3)Section 14ASection 153ASection 36(1)(iii)

…Α.Υ. 2018-19, 2019-20 Phulchand Exports Private Limited, Mumbai take advantage of the ignorance of an assessee as to his rights and all reliefs due to assessee to be allowed. 18.1 It was further submitted before the ld.CIT(A) that the Digital Electronics Ltd. 135 TTJ 419(MUM) decision being binding STCG arising on sale of depreciable asset u/s 50 is to be setoff against carry forward Business Loss. This decision is now approved in the case of Alcon Developers(2021) 432 ITR 0277 (Bom) where the High Court held, "26. In Hickson and Dadajee (P.) Ltd. (supra) the first substantial question of law was whether on the f…

Dy. Commissioner of Income Tax, Central Circle- 3(3), Mumbai vs. Phulchand Exports Private Limited, Mumbai

In the result, appeals of the Revenue in ITA No

ITA 3102/MUM/2025[2018-19]Status: DisposedITAT Mumbai04 Aug 2025AY 2018-19

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

For Appellant: Shri Shankarlal Jain & Shri Satish KumarFor Respondent: Shri R.A Dhyani, (CIT-DR)

Section 132Section 143(3)Section 14ASection 153ASection 36(1)(iii)

…A.Y. 2018-19, 2019-20 Phulchand Exports Private Limited, Mumbai take advantage of the ignorance of an assessee as to his rights and all reliefs due to assessee to be allowed. 18.1 It was further submitted before the ld.CIT(A) that the Digital Electronics Ltd. 135 TTJ 419(MUM) decision being binding STCG arising on sale of depreciable asset u/s 50 is to be setoff against carry forward Business Loss. This decision is now approved in the case of Alcon Developers(2021) 432 ITR 0277 (Bom) where the High Court held, "26. In Hickson and Dadajee (P.) Ltd. (supra) the first substantial question of law was whether on the f…

Phulchand Exports Pvt Ltd, Mumbai vs. Asst. Commissioner of Income Tax Central Circle 3(3), Mumbai

In the result, appeals of the Revenue in ITA No

ITA 2415/MUM/2025[2018-19]Status: DisposedITAT Mumbai04 Aug 2025AY 2018-19

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

For Appellant: Respondent byFor Respondent: Shri Shankarlal Jain & Shri Satish Kumar

Section 132Section 143(3)Section 14ASection 153ASection 36(1)(iii)

Mumbai Kamgar Madhyawarti, Mumbai vs. Pr CIT 20, Mumbai

In the result, appeal of the assessee is allowed, as above

ITA 3770/MUM/2017[2012-13]Status: DisposedITAT Mumbai23 May 2018AY 2012-13

Bench: Shri G.S. Pannu & Shri Sandeep Gosain: (A.Y : 2012-13)

For Appellant: Shri V. Sridharan &For Respondent: Shri T. Kipgen

Section 143(3)Section 263Section 72

…e land. Referring to the relevant submissions made at the time of assessment proceedings, it has been asserted that the claim of the assessee was based on the decision of the Mumbai Bench of the Tribunal in the case of Digital Electronics Ltd. vs ACIT, [2012] 135 TTJ 419 (Mumbai) in terms of which, profits realised on sale of assets used for business, being in the nature of ‘Business Income’, was available for set-off against unabsorbed depreciation 6 Mumbai Kamgar Madhyawarti Grahak Sahakari Sanstha Maryadit and business loss, although such income was otherwise chargeable under the head ‘Capital Gains’. Anothe…

Gouranga Cement Pvt. Ltd., Barakar vs. DCIT, Cir-3, Bankura

In the result, assessee’s appeal is partly allowed in terms of above

ITA 330/KOL/2017[2010-11]Status: DisposedITAT Kolkata03 May 2018AY 2010-11

Section 143(3)Section 234ASection 234CSection 72

…he LTCG income is contrary to the provision of the Act. However, Ld. CIT(A) disregarded the contention of assessee and confirmed the order of AO after having reliance on the order of ITAT Mumbai Tribunal in the case of Digital Electronics Ltd. vs. ACIT (2011) 135 TTJ 419 (Mum). ITA No.330/Kol/2017 A.Y. 2010-11 Gournga Cement Pvt. Ltd. vs. DCIT, Cir-3 Bankura Page 3 The assessee being aggrieved by this order of Ld. CIT(A) is in appeal before us. 6. Before us Ld. AR for the assessee reiterated the same arguments that were made before Ld. CIT(A) and relied on the judgment of Hon'ble Punjab & Hayana High Court in th…