Dy. CIT v. Binani Industries Ltd.

178 TTJ 658Income Tax Appellate Tribunal2016#2348 most cited

What is Dy. CIT v. Binani Industries Ltd. authority for?

The lower of unabsorbed depreciation or business loss is deductible from book profits under Clause (iii) of Explanation 1 to Section 115JB. Capital receipts, such as forfeiture of share warrants, which do not have the character of income, are not liable for book profits tax under Section 115JB.

49

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2024.

Also referred to as

Dy. CIT v. Binani Industries Ltd. · Binani Industries · Section 115JB · book profits · Minimum Alternate Tax · MAT · unabsorbed depreciation reduction · business loss deduction · capital receipt · forfeiture of share warrants · not income liable to tax

Sections most often in play

Section 115JBSection 37(1)Section 10AASection 132Section 133(6)Section 139(5)Section 153ASection 32

Issues it is cited on

icdsbook profitssection 115jsection 2(24)section 115jbliable to taxrevenue expendituresection 115cross objectionsection 154section 11section 10

Judgments citing Dy. CIT v. Binani Industries Ltd.

ACIT, CIRCLE-6(1)(2), MUMBAI, MUMBAI vs. ASK WEALTH ADVISORS PVT. LIMITED, MUMBAI

In the result Departmental appeal is dismissed

ITA 4215/MUM/2023[2017-18]Status: DisposedITAT Mumbai23 Sept 2024AY 2017-18

Bench: Shri Narender Kumar Choudhry(Jm) & Shri Omkareshwar Chidara (Am)

Section 115JSection 143(2)Section 37(1)

…1 to Section 115JB of the Act, while computing book profits u/s.115JB of the Act. We find that this issue is no longer res-integra in view of the decision of the Coordinate Bench of Kolkata Tribunal in the case of DCIT vs. Binani Industries Ltd., reported in 178 TTJ 658, wherein the undersigned was the author, wherein it was held as under:- 3. The second issue to be decided in this appeal is as to whether the assessee is entitled for reduction of Rs. 2,18,09,000/- being the lower of unabsorbed depreciation or business loss as per books of accounts from the computation of book profits u/s 115JB of the Act in the…

ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. NATIONAL E ASSESSMENT CENTRE, NEW DELHI

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

ITA 242/NAG/2023[2018-19]Status: DisposedITAT Nagpur09 Sept 2024AY 2018-19

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mani JainFor Respondent: Shri Kailash C. Kanojiya
Section 139Section 142(1)Section 143(2)

…24. When a receipt is not in the character of income, can it form part of the book profits for the purpose of sec. 115JB of the Act, is the question that arises for consideration. The ITAT Kolkata Bench in the case of Dy. CIT v. Binani Industries Ltd. [2016) 178 TTJ 658: had to deal with a case where the question was as to whether receipts on account of forfeiture of share warrants amounting to Rs.12,65,75,000/-, 260 capital receipt, would be liable for taxation u/s 115JB. The tribunal after referring to several decisions on the issue viz., the Hon'ble Apex Court in case of Indo Rama Synthetics (1) Ltd. v. CIT […

ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1 (2), NAGPUR

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

ITA 177/NAG/2022[2017-18]Status: DisposedITAT Nagpur09 Sept 2024AY 2017-18

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mani JainFor Respondent: Shri Kailash C. Kanojiya
Section 139Section 142(1)Section 143(2)

…24. When a receipt is not in the character of income, can it form part of the book profits for the purpose of sec. 115JB of the Act, is the question that arises for consideration. The ITAT Kolkata Bench in the case of Dy. CIT v. Binani Industries Ltd. [2016) 178 TTJ 658: had to deal with a case where the question was as to whether receipts on account of forfeiture of share warrants amounting to Rs.12,65,75,000/-, 260 capital receipt, would be liable for taxation u/s 115JB. The tribunal after referring to several decisions on the issue viz., the Hon'ble Apex Court in case of Indo Rama Synthetics (1) Ltd. v. CIT […

IPCA LABORATORIES LTD.,MUMBAI vs. DY CIT -CC-5(2), MUMBAI

In the result, both the appeals of the assessee as well as the revenue for AYs 2009-10, 2010-11, 2011-12, 2012-13 & 2014-15 are partly allowed

ITA 881/MUM/2021[2012-13]Status: DisposedITAT Mumbai08 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T. A. No. 880/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 879/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 882/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 881/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 883/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2014-15)

For Appellant: Shri Madhur Agrawal (Adv)For Respondent: Shri K. C Selvamani (DR)
Section 115JSection 132Section 143(3)Section 153ASection 35Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI AMARJIT SINGH, AM आयकर अपील सं/ I.T. A. No. 880/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 879/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 882/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 881/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 883/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2014-15) IPCA Laboratories Ltd बिधम/ DCIT, Central Circle-5(2) 19th Floor, Air India 48 Kandivli I…

DCIT (CENTRAL CIRCLE -6(3), MUMBAI vs. KARANJA TERMINAL & LOGISTICS PVT LTD, MUMBAI

In the result, the appeals of the Revenue are dismissed

ITA 2159/MUM/2023[2016-2017]Status: DisposedITAT Mumbai16 Oct 2023AY 2016-2017

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

Section 115J

…of carbon credit is a capital receipt not liable to tax, the same is required to be reduced from book profit because capital receipt cannot be be considered as a part of book profit liable to tax.  In the case of DCIT, c.c-XXVIII V/s. Binani Industries Ltd., 178 TTJ 658(Kol) ITAT the facts were that on receipt of forfeiture of share warrants being capital receipt would hot be liable for book profits tax under section 115JB of IT Act. 1961. The genesis of Sec 115J, thereafter section 115JA and now section 115JB was to ensure that the assessee, while making profit from operations, should not enjoy tax free status…

DCIT (CENTRAL CIRCLE -6(3), MUMBAI vs. KARANJA TERMINAL & LOGISTICS PVT LTD, MUMBAI

In the result, the appeals of the Revenue are dismissed

ITA 2158/MUM/2023[2017-18]Status: DisposedITAT Mumbai16 Oct 2023AY 2017-18

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

Section 115J

…of carbon credit is a capital receipt not liable to tax, the same is required to be reduced from book profit because capital receipt cannot be be considered as a part of book profit liable to tax.  In the case of DCIT, c.c-XXVIII V/s. Binani Industries Ltd., 178 TTJ 658(Kol) ITAT the facts were that on receipt of forfeiture of share warrants being capital receipt would hot be liable for book profits tax under section 115JB of IT Act. 1961. The genesis of Sec 115J, thereafter section 115JA and now section 115JB was to ensure that the assessee, while making profit from operations, should not enjoy tax free status…

ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(1), BENGALURU vs. M/S.OZONE PROPERTIES PVT. LTD.,, BENGALURU

In the result, the appeal filed by the revenue stands allowed for statistical purposes

ITA 95/BANG/2022[2014-2015]Status: DisposedITAT Bangalore09 Sept 2022AY 2014-2015

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2014-15 M/S. Ozone Properties The Assistant Pvt. Ltd., Commissioner Of No. 38, Ozone Group, Income Tax, Ulsoor Road, Central Circle – 2(1), Ulsoor, Bangalore. Vs. Bangalore – 560 042. Pan: Aaaco6672M Appellant Respondent & C.O.No. 01/Bang/2022 (In Ita No. 95/Bang/2022) (By Assessee) Assessee By : Shri Kodandapani, Ca : Dr. Manjunath Karkihalli, Revenue By Cit Dr Date Of Hearing : 01-09-2022 Date Of Pronouncement : 09-09-2022 Order Per Beena Pillaipresent Appeal Is Filed By Assessee & Revenue Against Order Dated 30.11.2021 Passed By Ld.Cit(A)-11, Bangalore For A.Y. 2014-15 On Following Grounds Of Appeal:

For Appellant: Shri Kodandapani, CA
Section 115JSection 143(3)Section 153ASection 154

…to Section 115JB of the Act, while computing book profits u/s.115JB of the Act. We find that this issue is no longer res-integra in view of the decision of the Co- ordinate Bench of Kolkata Tribunal in the case of DCIT vs. Binani Industries Ltd., reported in 178 TTJ 658, wherein the undersigned was the author, wherein it was held as under:- 3. The second issue to be decided in this appeal is as to whether the assessee is entitled for reduction of Rs. 2,18,09,000/- being the lower of unabsorbed depreciation or business loss as per books of accounts from the computation of book profits u/s 115JB of the Act in the…

M/S GO AIRLINES (INDIA) LTD.,MUMBAI vs. DY CIT 5 (1)(1), MUMBAI

In the result, the appeal of the assessee is allowed

ITA 7517/MUM/2019[2015-16]Status: DisposedITAT Mumbai26 Jul 2021AY 2015-16

Bench: Shri Rajesh Kumar & Shri Ravish Soodassessment Year: 2015-16

For Appellant: Shri Ronak Doshi, A.RFor Respondent: Shri Yogesh Kamat, D.R
Section 115BSection 115J

…1 to Section 115JB of the Act, while computing book profits u/s.115JB of the Act. We find that this issue is no longer res-integra in view of the decision of the Coordinate Bench of Kolkata Tribunal in the case of DCIT vs. Binani Industries Ltd., reported in 178 TTJ 658, wherein the undersigned was the author, wherein it was held as under:- “3. The second issue to be decided in this appeal is as to whether the assessee is entitled for reduction of Rs. 2,18,09,000/- being the lower of unabsorbed depreciation or business loss as per books of accounts from the computation of book profits u/s 115JB of the Act in th…

SYNCHEM CHEMICALS (INDIA) P.LTD,MUMBAI vs. DCIT 10(1), MUMBAI

In the result, the appeal of the revenue is dismissed and appeal of the assessee is allowed

ITA 2753/MUM/2014[2010-11]Status: DisposedITAT Mumbai21 Apr 2021AY 2010-11
Section 10Section 115JSection 143(3)Section 2(47)Section 45

…elaborate observations, the aforesaid decisions relied upon by the ld. DR would not come to the rescue of the revenue. We also find that all these decisions were subsequently considered by various decisions of this Tribunal in several other cases reported in 178 TTJ 658 (Kol), authored by the undersigned. 13.7. In view of our aforesaid observations and respectfully following the various judicial precedents relied upon hereinabove, we hold that the amount received from partnership firm in the sum of Rs.10,48,51,708/- requires to be reduced while calculating the book profits u/s.115JB of the Act. Accordingly, the…

GO AIRLINES (INDIA) LIMITED,MUMBAI vs. DCIT 5(1)(1), MUMBAI

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 3788/MUM/2018[2014-15]Status: DisposedITAT Mumbai13 Jan 2021AY 2014-15

Bench: Shri Saktijit Dey, Jm & Shri M.Balaganesh, Am M/S. Go Airlines (India) Vs. Deputy Commissioner Of Limited Income Tax – 5(1)(1) 1St Room No.568, 5Th Floor C-1, Floor, Wadia International Centre Aayakar Bhavan, Pandurang Budhkar Marg M.K.Road, Mumbai-400020 Worli, Mumbai – 400 025 Pan/Gir No. Aaccg2599K (Appellant) .. (Respondent)

Section 115JSection 143(3)

…to Section 115JB of the Act, while computing book profits u/s.115JB of the Act. We find that this issue is no longer res-integra in view of the decision of the Co- ordinate Bench of Kolkata Tribunal in the case of DCIT vs. Binani Industries Ltd., reported in 178 TTJ 658, wherein the undersigned was the author, wherein it was held as under:- 3. The second issue to be decided in this appeal is as to whether the assessee is entitled for reduction of Rs. 2,18,09,000/- being the lower of unabsorbed depreciation or business loss as per books of accounts from the computation of book profits u/s 115JB of the Act in the…

PRISM CEMENT LTD,MUMBAI vs. DCIT CC 6(1), MUMBAI

ITA 804/MUM/2018[2012-13]Status: DisposedITAT Mumbai04 Jan 2021AY 2012-13

Bench: Shri C. N. Prasad, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 804 & 805/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2012-13 & 2011-12)

For Appellant: Shri Vijay Mehta, ARFor Respondent: Shri V. Sreekar, DR
Section 115JSection 143(1)Section 143(2)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI C. N. PRASAD, JM & SHRI S. RIFAUR RAHMAN, AM आयकरअपीलसं./ I.T.A. No. 804 & 805/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2012-13 & 2011-12) DCIT Cen Cir – 6(1), Prism Cement Ltd. R. No. 1905, 19th floor, बिधम/ Rahejas, V. P. Road, Main Avenu, Santacruz (west), Air India Bldg, Nariman Vs. Mumbai-400 054 Point, Mumbai-400 021 स्थायीलेखासं./जीआइआरसं./ PAN No. AAACP6224A (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : & आयकरअपीलसं./ I.T.A. No. 871 & 872/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2012-13 & 2011-12) DCIT Cen Cir – 6(1), Prism Cement Ltd.…

DCIT, LTU-2, KOLKATA vs. M/S CENTURY PLYBOARDS (I), LTD, KOLKATA

In the result, the appeal of the revenue is dismissed and cross objections of assessee are allowed

ITA 2149/KOL/2019[2014-15]Status: DisposedITAT Kolkata04 Nov 2020AY 2014-15

Bench: Shri P.M. Jagtap(Kz) &Shri A. T. Varkey, Jm] Assessment Year: 2014-15

Section 10(34)Section 115JSection 14A

…1 ITA No. 2149/Kol/2019 & C.O. No. 22/Kol/2020 M/s Century Plyboards (I) Ltd. A.Y. 2014-15 आयकर अपील"य अधीकरण, "यायपीठ –“C” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA (सम")"ी पी. एम.जगताप,उपा"य" एवं "ी ए.ट". वक!,"या"यक सद$य) [Before Shri P.M. Jagtap, Vice President (KZ) &Shri A. T. Varkey, JM] Assessment Year: 2014-15 DCIT, Circle-2, LTU, Kolkata Vs. M/s Century Plyboards (I) Ltd. (PAN: AABCC 1682 J) Appellant Respondent & C.O. No. 22/Kol/2020 In ITA No.2149/Kol/2019 Assessment Year: 2014-15 M/s Century Plyboards (I) Ltd. Vs. DCIT, Circle-2, LTU, Kolkata (PAN: AABCC 1682 J) Cross Objec…

M/S. RAMGAD MINERALS & MINING LIMITED,HOSPET vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1, BELLARY

In the result appeal filed by assessee for A

ITA 1271/BANG/2019[2014-15]Status: DisposedITAT Bangalore04 Nov 2020AY 2014-15

Bench: Shri A. K. Garodia & Smt. Beena Pillai

For Appellant: Shree Vijay Mehta, C. AFor Respondent: Shree Muzaffar Hussain, CIT DR
Section 115Section 115JSection 37(1)Section 80I

…already on record)  Shree Cement Ltd v. Addl.CIT [2014] 49 taxmann.com 274 (Jaipur - Trib.)  ACIT v/sL.H.Sugar Factory Ltd. In ITA No.417,418 &339/Luck/2013 dated 09-02-2016)  Deputy Commissioner of Income-tax, C.C-XXVIII, Kolkata v. Binani Industries Ltd. 178 TTJ 658 (Kol)  Principal Commissioner of Income-tax, Central-2, Kolkata v. Ankit Metal & Power Ltd 416 ITR 591 (Cal) ITA No. 212 & 589/Bang/2020 Asst.Yrs:2013-14 &2014-15 Page 31 of 33 9.5. It is submitted that the income in question before the Hon'ble Supreme Court was taxable but was exempt under a specific provision of the Act and as such, it was h…

M/S. RAMGAD MINERALS AND MINING LIMITED,HOSPET vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1, BELLARY

In the result appeal filed by assessee for A

ITA 1270/BANG/2019[2013-14]Status: DisposedITAT Bangalore04 Nov 2020AY 2013-14

Bench: Shri A. K. Garodia & Smt. Beena Pillai

For Appellant: Shree Vijay Mehta, C. AFor Respondent: Shree Muzaffar Hussain, CIT DR
Section 115Section 115JSection 37(1)Section 80I

…already on record)  Shree Cement Ltd v. Addl.CIT [2014] 49 taxmann.com 274 (Jaipur - Trib.)  ACIT v/sL.H.Sugar Factory Ltd. In ITA No.417,418 &339/Luck/2013 dated 09-02-2016)  Deputy Commissioner of Income-tax, C.C-XXVIII, Kolkata v. Binani Industries Ltd. 178 TTJ 658 (Kol)  Principal Commissioner of Income-tax, Central-2, Kolkata v. Ankit Metal & Power Ltd 416 ITR 591 (Cal) ITA No. 212 & 589/Bang/2020 Asst.Yrs:2013-14 &2014-15 Page 31 of 33 9.5. It is submitted that the income in question before the Hon'ble Supreme Court was taxable but was exempt under a specific provision of the Act and as such, it was h…

KRISHI RASAYAN EXPORT PVT. LTD.,KOLKATA vs. PCIT, 4, KOLKATA, KOLKATA

Appeals are allowed

ITA 743/KOL/2019[2014-15]Status: DisposedITAT Kolkata28 Feb 2020AY 2014-15

Bench: Shri J. Sudhakar Reddy, Am & Shri S. S. Godara, Jm आयकर अपीलसं./I.T.A Nos.742&743/Kol/2019 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) Krishi Rasayan Exports(P) Ltd. Vs. Pcit-4, Kolkata 29, Lala Lajpath Rai Sarani (Elgin Road), Kolkata – 700020. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacck4124G (Appellant) .. (Respondent) Appellant By : Shri S.D. Verma, Advocate Respondent By : Smt. Ranu Biswas, Addl. Cit सुनवाईक"तार"ख/ Date Of Hearing : 21/02/2020 घोषणाक"तार"ख/Date Of Pronouncement : 28/02/2020

For Appellant: Shri S.D. Verma, AdvocateFor Respondent: Smt. Ranu Biswas, Addl. CIT
Section 115JSection 263

…revenue in the regular assessment in issue. 6. Coming to latter issue of section 115JB book profit computation of the corresponding excise duty refund and interest subsidy reserves (supra), we note that this tribunal’s coordinate benches take note of (2016) 178 TTJ 658 Binani Industries Ltd vs. CIT, Indo Rama Syntehetics (I) Ltd. 330 ITR 336(SC), Apollo Tyres Ltd. 255 ITR 273(SC) that when a receipt is not even a revenue item, the same also does not form part of book profits u/s 115JB of the Act. Hon’ble jurisdictional high court in PCIT vs. Ankit Metal & Power Ltd. ITA 155/2018 dated 09/07/2019 also reiterate…

KRISHI RASAYAN EXPORT PVT. LTD.,KOLKATA vs. PCIT, 4, KOLKATA, KOLKATA

Appeals are allowed

ITA 742/KOL/2019[2013-14]Status: DisposedITAT Kolkata28 Feb 2020AY 2013-14

Bench: Shri J. Sudhakar Reddy, Am & Shri S. S. Godara, Jm आयकर अपीलसं./I.T.A Nos.742&743/Kol/2019 ("नधा"रण वष" / Assessment Years: 2013-14 & 2014-15) Krishi Rasayan Exports(P) Ltd. Vs. Pcit-4, Kolkata 29, Lala Lajpath Rai Sarani (Elgin Road), Kolkata – 700020. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacck4124G (Appellant) .. (Respondent) Appellant By : Shri S.D. Verma, Advocate Respondent By : Smt. Ranu Biswas, Addl. Cit सुनवाईक"तार"ख/ Date Of Hearing : 21/02/2020 घोषणाक"तार"ख/Date Of Pronouncement : 28/02/2020

For Appellant: Shri S.D. Verma, AdvocateFor Respondent: Smt. Ranu Biswas, Addl. CIT
Section 115JSection 263

…revenue in the regular assessment in issue. 6. Coming to latter issue of section 115JB book profit computation of the corresponding excise duty refund and interest subsidy reserves (supra), we note that this tribunal’s coordinate benches take note of (2016) 178 TTJ 658 Binani Industries Ltd vs. CIT, Indo Rama Syntehetics (I) Ltd. 330 ITR 336(SC), Apollo Tyres Ltd. 255 ITR 273(SC) that when a receipt is not even a revenue item, the same also does not form part of book profits u/s 115JB of the Act. Hon’ble jurisdictional high court in PCIT vs. Ankit Metal & Power Ltd. ITA 155/2018 dated 09/07/2019 also reiterate…

RAHAS INVESTMENT P.LTD,MUMBAI vs. DCIT 10(1), MUMBAI

In the result, appeal of the assessee is dismissed and appeal of the revenue is dismissed

ITA 2752/MUM/2014[2010-11]Status: DisposedITAT Mumbai05 Feb 2020AY 2010-11

Bench: Shri M.Balaganesh, Am & Shri Amarjit Singh, Jm M/S. Lupin Investments Vs. Deputy Commissioner Of Private Limited (Successor To Income Tax, 10(1) Rahas Investments Private Aayakar Bhavan Limited M.K.Road, 159, Cst Road, Mumbai – 400 020 Kalina, Santacruz(E) Mumbai – 400 098 Pan/Gir No.Aaacr3202L (Appellant) .. (Respondent) Deputy Commissioner Of Vs. M/S. Lupin Investments Private Income Tax, 10(1) Limited (Successor To Rahas Aayakar Bhavan Investments Private Limited M.K.Road, 159, Cst Road, Mumbai – 400 020 Kalina, Santacruz(E) Mumbai – 400 098 Pan/Gir No.Aaacr3202L (Appellant) .. (Respondent) Assessee By Shri Hemen Chandariya Revenue By Shri Padmapani Bora Date Of Hearing 08/11/2019 Date Of Pronouncement 05/02/2020

Section 10Section 115JSection 143(3)Section 45

…elaborate observations, the aforesaid decisions relied upon by the ld. DR would not come to the rescue of the revenue. We also find that all these decisions were subsequently considered by various decisions of this Tribunal in several other cases reported in 178 TTJ 658 (Kol), authored by the undersigned. 17 M/s. Lupin Investments Private Limited (Successor to M/s. Rahas Investmetn Pvt. Ltd. 13.8. In view of our aforesaid observations and respectfully following the various judicial precedents relied upon hereinabove, we hold that the amount received from partnership firm in the sum of Rs.10,48,51,708/- require…

DCIT, CIRCLE- 23(2), NEW DELHI vs. SICPA INDIA PVT. LTD., NEW DELHI

ITA 7483/DEL/2017[2011-12]Status: DisposedITAT Delhi31 Jan 2020AY 2011-12

Bench: Shri Kuldip Singh & Dr. B.R.R. Kumar

For Appellant: Shri Nikhil Surana, CAFor Respondent: Shri Saras Kumar, Senior DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘G’ : NEW DELHI) BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER and DR. B.R.R. KUMAR, ACCOUNTANT MEMBER ITA No.704/Kol./2015 (Assessment Year : 2009-10) M/s. Sicpa India Private Ltd., vs. Addl.CIT, Range 8, (formerly known as Sicpa India Ltd.) Kolkata. C/o Newby Teas Overseas (P) Ltd., 9A, 2nd Floor, 23A, N.S. Road, Kolkata – 700 016. (PAN : AADCS6121L) ITA No.1586/Kol./2016 (Assessment Year : 2010-11) M/s. Sicpa India Private Ltd., vs. DCIT, Range 8, (formerly known as Sicpa India Ltd.) Kolkata. C/o Newby Teas Overseas (P) Ltd., 9A, 2nd Floor, 23A, N.S. Road, Kolkata…

SICPA INDIA PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE- 23(2), NEW DELHI

ITA 7048/DEL/2017[2011-12]Status: DisposedITAT Delhi31 Jan 2020AY 2011-12

Bench: Shri Kuldip Singh & Dr. B.R.R. Kumar

For Appellant: Shri Nikhil Surana, CAFor Respondent: Shri Saras Kumar, Senior DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘G’ : NEW DELHI) BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER and DR. B.R.R. KUMAR, ACCOUNTANT MEMBER ITA No.704/Kol./2015 (Assessment Year : 2009-10) M/s. Sicpa India Private Ltd., vs. Addl.CIT, Range 8, (formerly known as Sicpa India Ltd.) Kolkata. C/o Newby Teas Overseas (P) Ltd., 9A, 2nd Floor, 23A, N.S. Road, Kolkata – 700 016. (PAN : AADCS6121L) ITA No.1586/Kol./2016 (Assessment Year : 2010-11) M/s. Sicpa India Private Ltd., vs. DCIT, Range 8, (formerly known as Sicpa India Ltd.) Kolkata. C/o Newby Teas Overseas (P) Ltd., 9A, 2nd Floor, 23A, N.S. Road, Kolkata…

DCIT, CIRCLE - 1(1), KOLKATA, KOLKATA vs. M/S. MCNALLY BHARAT ENGINEERING COMPANY LIMITED, KOLKATA

ITA 147/KOL/2018[2010-11]Status: DisposedITAT Kolkata22 Nov 2019AY 2010-11

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am I.T.A Nos. 147&109 & C.O Nos.35 & 36/Kol/2018 ("नधा"रण वष" / Assessment Years: 2010-11 & 2011-12) Dcit, Circle-1(1), Kolkata Vs. M/S. Mcnally Bharat Engineering Ltd. M/S Mcnally Bharat Engineering Co. Company Limited, 4, Mangoe Lane, Kolkata – 700001. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcm9443R (Appellant) .. (Respondent/Cross-Objector)

For Appellant: Dr. P. K. Srihari, CIT(DR)For Respondent: Shri Chetan Mehta, FCA, Ashish Jain, FCA &
Section 115JSection 144C(3)Section 92B

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM & Dr. A. L. SAINI, AM I.T.A Nos. 147&109 & C.O Nos.35 & 36/Kol/2018 ("नधा"रण वष" / Assessment Years: 2010-11 & 2011-12) DCIT, Circle-1(1), Kolkata Vs. M/s. Mcnally Bharat Engineering Ltd. M/s Mcnally Bharat Engineering Co. Company Limited, 4, Mangoe Lane, Kolkata – 700001. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AABCM9443R (Appellant) .. (Respondent/Cross-Objector) Appellant by : Dr. P. K. Srihari, CIT(DR) Respondent by : Shri Chetan Mehta, FCA, Ashish Jain, FCA & Alpesh Gupta, ACA सुनवाईक"तार"ख/ Date of Hearing : 04/11/2019 घोषण…

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