Electrocast Sales India Ltd. v. DCIT

DCIT CENTRAL CIRCLE- 3(4), MUMBAI, AIR INDIA BUILDING vs. SATGURU CORPORATE SERVICES PRIVATE LIMITED, MUMBAI

In the result, the appeal of the revenue is dismissed

Bench: Shri Amarjit Singh & Ms. Kavitha Rajagopalassessment Year: 2020-21

…any power to question the validity of the said order. Appellant also relied upon following judicial pronouncements: ITO vs. Purbanchal Power Co. Limited (ITA No. 201/KOL/2010 dated 17.07.2014) (Kolkata ITAT) Electrocast Sales India Limited -vs- DCIT (2018) 170 ITD 507 (KO. ITAT); Keva Fragrance Pvt. Limited -vs. - DCIT (ITA No. 334/M/2020 dated 02.08.2021) (Mum. ITAT); CIT-vs.- M/s Long View Tea Co. Ltd. (ITAT No. 169 of 2015 order dated 22.06.2018) (Calcutta HC). 10.5 I have gone through the assessment order and also the submissions of the appellant carefully. I find that the AO has erred in questioning th…

JT. CIT (ODS) - CC -1(4), MUMBAI vs. ULTRATECH CEMENT LTD., MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

…(A.Y: 2014-15) M/s UltraTech Cement Limited under the Act. The law laid down by the Hon'ble High Court, in the scheme of demerger would apply as operation of law. In this regard, the Kolkata Tribunal in the case of Electrocast Sales India Ltd. v. DCIT [2018] 170 ITD 507 (Kol.), has held as under: “4.4 We find that the scheme of amalgamation would be approved by the Hon'ble High Court only after ensuring that the same is not prejudicial to the interests of its members or to public interest. Hence the merger scheme approved by the Hon'ble High Court having in mind the larger public interest, cannot be disturbed b…

ULTRA TECH CEMENT LIMITED,MUMBAI vs. ACIT- CC 1(4), MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

…(A.Y: 2014-15) M/s UltraTech Cement Limited under the Act. The law laid down by the Hon'ble High Court, in the scheme of demerger would apply as operation of law. In this regard, the Kolkata Tribunal in the case of Electrocast Sales India Ltd. v. DCIT [2018] 170 ITD 507 (Kol.), has held as under: “4.4 We find that the scheme of amalgamation would be approved by the Hon'ble High Court only after ensuring that the same is not prejudicial to the interests of its members or to public interest. Hence the merger scheme approved by the Hon'ble High Court having in mind the larger public interest, cannot be disturbed b…

DCIT CIR 1(4) , MUMBAI vs. M/S. ULTRATECH CEMENT LTD, MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

…(A.Y: 2014-15) M/s UltraTech Cement Limited under the Act. The law laid down by the Hon'ble High Court, in the scheme of demerger would apply as operation of law. In this regard, the Kolkata Tribunal in the case of Electrocast Sales India Ltd. v. DCIT [2018] 170 ITD 507 (Kol.), has held as under: “4.4 We find that the scheme of amalgamation would be approved by the Hon'ble High Court only after ensuring that the same is not prejudicial to the interests of its members or to public interest. Hence the merger scheme approved by the Hon'ble High Court having in mind the larger public interest, cannot be disturbed b…

M/S. ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CENT CIR-1(4) , MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

…(A.Y: 2014-15) M/s UltraTech Cement Limited under the Act. The law laid down by the Hon'ble High Court, in the scheme of demerger would apply as operation of law. In this regard, the Kolkata Tribunal in the case of Electrocast Sales India Ltd. v. DCIT [2018] 170 ITD 507 (Kol.), has held as under: “4.4 We find that the scheme of amalgamation would be approved by the Hon'ble High Court only after ensuring that the same is not prejudicial to the interests of its members or to public interest. Hence the merger scheme approved by the Hon'ble High Court having in mind the larger public interest, cannot be disturbed b…

DY CIT CC 1(4), MUMBAI vs. M/S ULTRATECH CEMENT LTD , MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Ultratech Cement Limited V. Dcit, Central Circle-1(4) Ahura Centre, ‘B’ Wing 2Nd Floor Room No. 902, 9Th Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Dcit, Central Circle-1(4) V. M/S. Ultratech Cement Limited Room No. 902, 9Th Floor Ahura Centre, ‘B’ Wing 2Nd Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

…onditions.” 95. We would be sitting on the judgment and wisdom of the Hon’ble Courts if we were to deny the benefit especially sanctioned by the Hon’ble High Courts. 96. The Kolkata Bench of the Tribunal in case of Electrocast Sales India Ltd. vs. DCIT [2018] 170 ITD 507, has held that merger scheme Page No. | 29 ITA NO. 465 & 931/MUM/2020 (A.Y: 2015-16) UltraTech Cement Limited approved by the Hon'ble High Court having in mind the larger public interest, cannot be disturbed by the revenue. We concur with the view taken by the coordinate Bench to hold that since the scheme of amalgamation was approved by the H…

ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CC 1(4), MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Ultratech Cement Limited V. Dcit, Central Circle-1(4) Ahura Centre, ‘B’ Wing 2Nd Floor Room No. 902, 9Th Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Dcit, Central Circle-1(4) V. M/S. Ultratech Cement Limited Room No. 902, 9Th Floor Ahura Centre, ‘B’ Wing 2Nd Floor Mahakali Caves Road Pratishtha Bhavan, Old Cgo Annexe Maharishi Karve Road Andheri (E), Mumbai- 400093 Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

…onditions.” 95. We would be sitting on the judgment and wisdom of the Hon’ble Courts if we were to deny the benefit especially sanctioned by the Hon’ble High Courts. 96. The Kolkata Bench of the Tribunal in case of Electrocast Sales India Ltd. vs. DCIT [2018] 170 ITD 507, has held that merger scheme Page No. | 29 ITA NO. 465 & 931/MUM/2020 (A.Y: 2015-16) UltraTech Cement Limited approved by the Hon'ble High Court having in mind the larger public interest, cannot be disturbed by the revenue. We concur with the view taken by the coordinate Bench to hold that since the scheme of amalgamation was approved by the H…

DY CIT CC-1(4), MUMBAI vs. M/S GRASIM INDUSTRIES LTD., MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

…and filed a revised Return of Income with the prior approval and ITA Nos. 1935/MUM/2020 & 41/MUM/2021 Grasim Industries Ltd. 2018-19 sanction of the NCLT, without any objection from the Department. (Emphasis supplied) b) Electrocast Sales India Ltd. v. DCIT (170 ITD 507) (T) Kol) (2018) (Pg. 424-435 of Legal Paper Book, Vol. II) “4.4 We find that the scheme of amalgamation would be approved by the Hon'ble High Court only after ensuring that the same is not prejudicial to the interests of its members or to public interest. Hence the merger scheme approved by the Hon'ble High Court having in mind the larger publi…

GRASIM INDUSTRIES LTD.,MUMBAI vs. DY CIT, CENTRAL CIRCLE-1(4), MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

…and filed a revised Return of Income with the prior approval and ITA Nos. 1935/MUM/2020 & 41/MUM/2021 Grasim Industries Ltd. 2018-19 sanction of the NCLT, without any objection from the Department. (Emphasis supplied) b) Electrocast Sales India Ltd. v. DCIT (170 ITD 507) (T) Kol) (2018) (Pg. 424-435 of Legal Paper Book, Vol. II) “4.4 We find that the scheme of amalgamation would be approved by the Hon'ble High Court only after ensuring that the same is not prejudicial to the interests of its members or to public interest. Hence the merger scheme approved by the Hon'ble High Court having in mind the larger publi…

25FPS MEDIA PVT. LTD.,MUMBAI vs. ITO ,RANGE -6(3)(1), MUMBAI

In the result, the appeal filed by the assessee is hereby allowed and the appeal filed by the revenue is hereby dismissed

Bench: Shri Amarjit Singh, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No. 2798/Mum/2018 (निर्धारण वर्ा / Assessment Year:2012-13) Ito, Range-6(3)(1) बिधम/ 25Fps Media Pvt. Ltd. Room No.524, 5Th Floor, 18Th Floor, Marathon Futurex, Vs. Aayakar Bhavan, Mumbai- N. M. Joshi Marg, Lower 400020. Parel, Mumbai-400013. & आयकर अपील सं/ I.T.A. No. 3085/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) बिधम/ 25Fps Media Pvt. Ltd. Ito, Range-6(3)(1) 18Th Floor, Marathon Futurex, Room No.524, 5Th Floor, Vs. N. M. Joshi Marg, Lower Aayakar Bhavan, Mumbai- Parel, Mumbai-400013. 400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacz2076J (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Percy Pardiwala & Madhur Aggarwal Revenue By: Shri Achal Sharma (Dr) सुनवाई की तारीख / Date Of Hearing: 27/01/2022 घोषणा की तारीख /Date Of Pronouncement: 02/03/2022 आदेश / O R D E R Per Amarjit Singh (Jm): The Assessee As Well As Revenue Have Filed The Above Mentioned Appeals Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2012-13. Ita. No.2798/Mum/2018 2. The Revenue Has Filed The Present Appeal Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai Relevant To The A.Y.2012-13. 3085/M/2018 A.Y. 2012-13 3. The Revenue Has Raised The Following Grounds: -

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, JM AND SHRI AMARJIT SINGH, AM आयकर अपील सं/ I.T.A. No. 2798/Mum/2018 (निर्धारण वर्ा / Assessment Year:2012-13) ITO, Range-6(3)(1) बिधम/ 25FPS Media Pvt. Ltd. Room No.524, 5th Floor, 18th Floor, Marathon Futurex, Vs. Aayakar Bhavan, Mumbai- N. M. Joshi Marg, Lower 400020. Parel, Mumbai-400013. & आयकर अपील सं/ I.T.A. No. 3085/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) बिधम/ 25FPS Media Pvt. Ltd. ITO, Range-6(3)(1) 18th Floor, Marathon Futurex, Room No.524, 5th Floor, Vs. N. M. Joshi Marg, Lower Aayakar Bhavan, Mumbai- Parel,…

ITO 6(3)(1), MUMBAI vs. 25 FPS MEDIA PVT. LTD. , MUMBAI

In the result, the appeal filed by the assessee is hereby allowed and the appeal filed by the revenue is hereby dismissed

Bench: Shri Amarjit Singh, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No. 2798/Mum/2018 (निर्धारण वर्ा / Assessment Year:2012-13) Ito, Range-6(3)(1) बिधम/ 25Fps Media Pvt. Ltd. Room No.524, 5Th Floor, 18Th Floor, Marathon Futurex, Vs. Aayakar Bhavan, Mumbai- N. M. Joshi Marg, Lower 400020. Parel, Mumbai-400013. & आयकर अपील सं/ I.T.A. No. 3085/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) बिधम/ 25Fps Media Pvt. Ltd. Ito, Range-6(3)(1) 18Th Floor, Marathon Futurex, Room No.524, 5Th Floor, Vs. N. M. Joshi Marg, Lower Aayakar Bhavan, Mumbai- Parel, Mumbai-400013. 400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacz2076J (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Percy Pardiwala & Madhur Aggarwal Revenue By: Shri Achal Sharma (Dr) सुनवाई की तारीख / Date Of Hearing: 27/01/2022 घोषणा की तारीख /Date Of Pronouncement: 02/03/2022 आदेश / O R D E R Per Amarjit Singh (Jm): The Assessee As Well As Revenue Have Filed The Above Mentioned Appeals Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y. 2012-13. Ita. No.2798/Mum/2018 2. The Revenue Has Filed The Present Appeal Against The Order Dated 28.02.2018 Passed By The Commissioner Of Income Tax (Appeals) -12, Mumbai Relevant To The A.Y.2012-13. 3085/M/2018 A.Y. 2012-13 3. The Revenue Has Raised The Following Grounds: -

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, JM AND SHRI AMARJIT SINGH, AM आयकर अपील सं/ I.T.A. No. 2798/Mum/2018 (निर्धारण वर्ा / Assessment Year:2012-13) ITO, Range-6(3)(1) बिधम/ 25FPS Media Pvt. Ltd. Room No.524, 5th Floor, 18th Floor, Marathon Futurex, Vs. Aayakar Bhavan, Mumbai- N. M. Joshi Marg, Lower 400020. Parel, Mumbai-400013. & आयकर अपील सं/ I.T.A. No. 3085/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) बिधम/ 25FPS Media Pvt. Ltd. ITO, Range-6(3)(1) 18th Floor, Marathon Futurex, Room No.524, 5th Floor, Vs. N. M. Joshi Marg, Lower Aayakar Bhavan, Mumbai- Parel,…

JT. CIT (OSD)- CC - 1(4), MUMBAI vs. ULTRATECH CEMENT LTD., MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly allowed as indicated above

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

…ent Ltd., 95. We would be sitting on the judgment and wisdom of the Hon’ble Courts if we were to deny the benefit especially sanctioned by the Hon’ble High Courts. 96. The Kolkata Bench of the Tribunal in case of Electrocast Sales India Ltd. vs. DCIT [2018] 170 ITD 507, has held that merger scheme approved by the Hon'ble High Court having in mind the larger public interest, cannot be disturbed by the revenue. We concur with the view taken by the coordinate Bench to hold that since the scheme of amalgamation was approved by the Hon'ble High Court only after ensuring that the same is not prejudicial to the intere…

DCIT- CC- 1(4), MUMBAI vs. ULTRATECH CEMENT LTD., MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

…ditions.” 95. We would be sitting on the judgment and wisdom of the Hon’ble Courts if we were to deny the benefit especially sanctioned by the Hon’ble High Courts. 96. The Kolkata Bench of the Tribunal in case of Electrocast Sales India Ltd. vs. DCIT [2018] 170 ITD 507, has held that merger scheme C.O.NOs. 130, 118 & 155/MUM/2019 UltraTech Cement Ltd., approved by the Hon'ble High Court having in mind the larger public interest, cannot be disturbed by the revenue. We concur with the view taken by the coordinate Bench to hold that since the scheme of amalgamation was approved by the Hon'ble High Court only after…

DCIT -CC-1(4), MUMBAI vs. ULTRATECH CEMENT LTD. , MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

…ditions.” 95. We would be sitting on the judgment and wisdom of the Hon’ble Courts if we were to deny the benefit especially sanctioned by the Hon’ble High Courts. 96. The Kolkata Bench of the Tribunal in case of Electrocast Sales India Ltd. vs. DCIT [2018] 170 ITD 507, has held that merger scheme C.O.NOs. 130, 118 & 155/MUM/2019 UltraTech Cement Ltd., approved by the Hon'ble High Court having in mind the larger public interest, cannot be disturbed by the revenue. We concur with the view taken by the coordinate Bench to hold that since the scheme of amalgamation was approved by the Hon'ble High Court only after…

DCIT - CC - 1(4), MUMBAI vs. ULTRATECH CEMENT LTD., MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

…ditions.” 95. We would be sitting on the judgment and wisdom of the Hon’ble Courts if we were to deny the benefit especially sanctioned by the Hon’ble High Courts. 96. The Kolkata Bench of the Tribunal in case of Electrocast Sales India Ltd. vs. DCIT [2018] 170 ITD 507, has held that merger scheme C.O.NOs. 130, 118 & 155/MUM/2019 UltraTech Cement Ltd., approved by the Hon'ble High Court having in mind the larger public interest, cannot be disturbed by the revenue. We concur with the view taken by the coordinate Bench to hold that since the scheme of amalgamation was approved by the Hon'ble High Court only after…

ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CEN CIR 1(4), MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

…ditions.” 95. We would be sitting on the judgment and wisdom of the Hon’ble Courts if we were to deny the benefit especially sanctioned by the Hon’ble High Courts. 96. The Kolkata Bench of the Tribunal in case of Electrocast Sales India Ltd. vs. DCIT [2018] 170 ITD 507, has held that merger scheme C.O.NOs. 130, 118 & 155/MUM/2019 UltraTech Cement Ltd., approved by the Hon'ble High Court having in mind the larger public interest, cannot be disturbed by the revenue. We concur with the view taken by the coordinate Bench to hold that since the scheme of amalgamation was approved by the Hon'ble High Court only after…

ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CEN CIR 1(4), MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

…ditions.” 95. We would be sitting on the judgment and wisdom of the Hon’ble Courts if we were to deny the benefit especially sanctioned by the Hon’ble High Courts. 96. The Kolkata Bench of the Tribunal in case of Electrocast Sales India Ltd. vs. DCIT [2018] 170 ITD 507, has held that merger scheme C.O.NOs. 130, 118 & 155/MUM/2019 UltraTech Cement Ltd., approved by the Hon'ble High Court having in mind the larger public interest, cannot be disturbed by the revenue. We concur with the view taken by the coordinate Bench to hold that since the scheme of amalgamation was approved by the Hon'ble High Court only after…

ULTRATECH CEMENT LTD,MUMBAI vs. DCIT CEN CIR 1(4), MUMBAI

In the result appeals and Cross Objection of the assessee for Assessment Years 2011-12, 2012, 2013-14 and 2014-15 are partly

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

…ditions.” 95. We would be sitting on the judgment and wisdom of the Hon’ble Courts if we were to deny the benefit especially sanctioned by the Hon’ble High Courts. 96. The Kolkata Bench of the Tribunal in case of Electrocast Sales India Ltd. vs. DCIT [2018] 170 ITD 507, has held that merger scheme C.O.NOs. 130, 118 & 155/MUM/2019 UltraTech Cement Ltd., approved by the Hon'ble High Court having in mind the larger public interest, cannot be disturbed by the revenue. We concur with the view taken by the coordinate Bench to hold that since the scheme of amalgamation was approved by the Hon'ble High Court only after…