EMCO KCP Ltd. v. CIT

159 CTR 137Supreme Court of India#9656 most cited
11

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2019 to 2025.

Sections most often in play

Section 143(3)Section 147Section 148Section 192Section 234BSection 234CSection 37(1)

Issues it is cited on

section 57(i)section 2(d)section 46section 46asection 35dsection 36(1)(viia)deduction under section 80iasection 10(34)disallowance of interest expendituresection 246section 40(a)(i)section 246a

Judgments citing EMCO KCP Ltd. v. CIT

PROCTER & GAMBLE HYGIENE AND HEALTH CARE LIMITED,MUMBAI vs. DCIT-2(3)(1), MUMBAI

In the result, appeal of the assessee is partly allowed

ITA 3518/MUM/2025[2015-16]Status: DisposedITAT Mumbai31 Jul 2025AY 2015-16

Bench: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

Section 147Section 148Section 192Section 37(1)

…or stock price differential, partakes the nature of capital expenditure, being intrinsically linked to share capital. 10. In support of his findings, the ld. AO placed reliance on decisions such as ACIT v. Ranbaxy Laboratories Ltd., Eimco K.C.P. Ltd. v. CIT (159 CTR 137, SC), CIT v. Reinz Talbros Pvt. Ltd. (252 ITR 637, Delhi HC), and Indian Molasses Co. Pvt. Ltd. v. CIT (37 ITR 66, SC), to emphasize that deductible 4 Procter & Gamble Hygiene and Health Care Limited expenditure must be real, ascertained, and irrevocably incurred. 11. The ld. CIT(A) affirmed the disallowance made by the AO in toto, observing th…

M/S. BANDHAN BANK LTD. (ERSTWHILE GHOSH FINANCE LTD),KOLKATA vs. DCIT,CIR-5(1), KOL, KOLKATA

In the result, the appeal of the assessee is allowed

ITA 465/KOL/2023[2016-17]Status: DisposedITAT Kolkata26 Aug 2024AY 2016-17

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2016-17

For Appellant: Shri Biswanath Paul, FCAFor Respondent: Shri Subhro Das, Addl. CIT, Sr. DR
Section 143(3)Section 17(2)(vi)Section 192Section 250Section 37

…re. The Delhi ITAT in the case of Ranbaxy (Supra) has relied on the following court rulings which have held that shares issued against assets/Technical know-how contributed by shareholders cannot be claimed as revenue expenditure: (a) Eimco K.C.P Ltd. Vs. CIT 159 CTR 137 (Supreme Court) (b) CIT Vs. Reinz Talbros Pvt. Ltd. 252 ITR 637 (Delhi HC) The above views of Delhi ITAT in the case of Ranbaxy (supra) were also upheld subsequently by the following judicial courts: - Hyderabad ITAT in the case of Medha Servo Drivers Limited, ITA No. 1114/Hyd/2008. - Mumbai Tribunal in the cases of : (a) DCIT Vs. Blow Plast Lim…

THOMAS COOK (INDIA) LTD.,MUMBAI vs. ADDL/ JT/ DY/CIT/ASSTT/ITO, NATIONAL E-ASSESSMENT CENTRE, DELHI

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

ITA 1218/MUM/2021[2016-17]Status: DisposedITAT Mumbai24 Nov 2023AY 2016-17

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Ble

Section 92CSection 92C(3)

…e. 9.13 The Delhi ITAT in the case of Ranbaxy (Supra) has relied on the following court rulings which have held that shares issued against assets/technical know-how contributed by shareholders cannot be claimed as revenue expenditure:  Eimco K.C.P Ltd Vs CIT 159 CTR 137 (Supreme Court) Page No. 54 ITA NO. 752 & 2541/MUM/2022 (A.Y. 2017-18 & 2018-19) Thomas Cook (India) Limited  CIT Vs ReinzTalbros Pvt Ltd 252 ITR 637 (Delhi) COME TAX DEPARTENT 9.14 Further, there are rulings as to what constitutes an expenditure In the case of Indian Mollasses Co Pvt Ltd Vs CIT 37 ITR 66, CIT VS Nainital Bank Ltd 62 ITR 38, it…

M/S. TE CONNECTIVITY SERVICES INDIA PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BANGALORE

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

ITA 191/BANG/2022[2017-18]Status: DisposedITAT Bangalore16 Sept 2022AY 2017-18

Bench: Shri N. V. Vasudevan & Ms. Padmavathy Sit(Tp)A No.191/Bang/2022 Assessment Year : 2017-18 M/S. Te Connectivity Services India Private Vs. National Faceless Assessment Centre, Limited, Delhi. 59/2, 1St Floor, Gurudas Heritage, Block-B, 100 Feet Ring Road, Banashankari 2Nd Stage, Bengaluru – 560 070. Pan: Aafct 3474 R Appellant Respondent Assessee By : Shri. Sriram Seshadri, Ca Revenue By : Dr. Manjunath Karkihalli, Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 14.09.2022 Date Of Pronouncement : 16.09.2022 O R D E R Per N. V. Vasudevan:

For Appellant: Shri. Sriram Seshadri, CAFor Respondent: Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru
Section 143(3)Section 144BSection 92Section 92C

…curities premium being a capital receipt is not chargeable to tax, and in same breath, it observed that any short collection of securities premium should also be considered as a capital outlay and not allowable as expenditure relying on Eimco K.C.P Ltd Vs CIT 159 CTR 137 (Supreme Court) and CIT Vs. Reinz Talbros Pvt Ltd 252 ITR 637 (Delhi HC). The above views of Hon'ble Delhi ITAT in the case of Ranbaxy (supra) were also followed subsequently by the Hon'ble Hyderabad ITAT in the case of Medha Servo Drivers Limited ITA No 1114n-1yd/2008, the Hon'ble Mumbai Tribunal in the cases of DCIT Vs Blow Plast Limited ITA I…

YES BANK LIMITED,MUMBAI vs. DCIT 2 (2)(2), MUMBAI

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

ITA 3500/MUM/2018[2013-14]Status: DisposedITAT Mumbai28 Jun 2022AY 2013-14

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Shekhar L. Gajbhiye, CIT
Section 14ASection 35DSection 40

…last Ltd in ITA No. 512/Mum/2009 dated 26th Nov, 2010, Mahindra & Mahindra Vs. DCIT in ITA No. 8597/Mum/2010 and M/s VIP Industries Ltd vs. DCIT in ITA no. 7242/Mum/2018. He also relied on the decision of Hon'ble Supreme Court in case of EMCO KCP Ltd. Vs. CIT 159 CTR 137, that the shares issued against assets contributed by shareholders cannot be considered as Revenue expenditure. He further submitted that ESOP expenses has not attained finality and pending before the Hon'ble Supreme Court in 2021] 131 taxmann.com 188 (SC)/[2021] 283 Taxman 290 (SC). In view of this, he submitted that CIT (A) has correctly not ad…

YES BANK LTD.,MUMBAI vs. DCIT 2(2)(2), MUMBAI

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

ITA 3499/MUM/2018[2012-13]Status: DisposedITAT Mumbai28 Jun 2022AY 2012-13

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Shekhar L. Gajbhiye, CIT
Section 14ASection 35DSection 40

…last Ltd in ITA No. 512/Mum/2009 dated 26th Nov, 2010, Mahindra & Mahindra Vs. DCIT in ITA No. 8597/Mum/2010 and M/s VIP Industries Ltd vs. DCIT in ITA no. 7242/Mum/2018. He also relied on the decision of Hon'ble Supreme Court in case of EMCO KCP Ltd. Vs. CIT 159 CTR 137, that the shares issued against assets contributed by shareholders cannot be considered as Revenue expenditure. He further submitted that ESOP expenses has not attained finality and pending before the Hon'ble Supreme Court in 2021] 131 taxmann.com 188 (SC)/[2021] 283 Taxman 290 (SC). In view of this, he submitted that CIT (A) has correctly not ad…

YES BANK LIMITED,MUMBAI vs. DCIT - 2(2)(2), MUMBAI

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

ITA 3498/MUM/2018[2011-12]Status: DisposedITAT Mumbai28 Jun 2022AY 2011-12

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Shekhar L. Gajbhiye, CIT
Section 14ASection 35DSection 40

…last Ltd in ITA No. 512/Mum/2009 dated 26th Nov, 2010, Mahindra & Mahindra Vs. DCIT in ITA No. 8597/Mum/2010 and M/s VIP Industries Ltd vs. DCIT in ITA no. 7242/Mum/2018. He also relied on the decision of Hon'ble Supreme Court in case of EMCO KCP Ltd. Vs. CIT 159 CTR 137, that the shares issued against assets contributed by shareholders cannot be considered as Revenue expenditure. He further submitted that ESOP expenses has not attained finality and pending before the Hon'ble Supreme Court in 2021] 131 taxmann.com 188 (SC)/[2021] 283 Taxman 290 (SC). In view of this, he submitted that CIT (A) has correctly not ad…

DCIT- 2(2)(2), MUMBAI vs. YES BANK LTD., MUMBAI

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

ITA 3238/MUM/2018[2013-14]Status: DisposedITAT Mumbai28 Jun 2022AY 2013-14

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Shekhar L. Gajbhiye, CIT
Section 14ASection 35DSection 40

…last Ltd in ITA No. 512/Mum/2009 dated 26th Nov, 2010, Mahindra & Mahindra Vs. DCIT in ITA No. 8597/Mum/2010 and M/s VIP Industries Ltd vs. DCIT in ITA no. 7242/Mum/2018. He also relied on the decision of Hon'ble Supreme Court in case of EMCO KCP Ltd. Vs. CIT 159 CTR 137, that the shares issued against assets contributed by shareholders cannot be considered as Revenue expenditure. He further submitted that ESOP expenses has not attained finality and pending before the Hon'ble Supreme Court in 2021] 131 taxmann.com 188 (SC)/[2021] 283 Taxman 290 (SC). In view of this, he submitted that CIT (A) has correctly not ad…

DCIT- 2(2)(2), MUMBAI vs. YES BANK LTD., MUMBAI

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

ITA 3237/MUM/2018[2012-13]Status: DisposedITAT Mumbai28 Jun 2022AY 2012-13

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Shekhar L. Gajbhiye, CIT
Section 14ASection 35DSection 40

…last Ltd in ITA No. 512/Mum/2009 dated 26th Nov, 2010, Mahindra & Mahindra Vs. DCIT in ITA No. 8597/Mum/2010 and M/s VIP Industries Ltd vs. DCIT in ITA no. 7242/Mum/2018. He also relied on the decision of Hon'ble Supreme Court in case of EMCO KCP Ltd. Vs. CIT 159 CTR 137, that the shares issued against assets contributed by shareholders cannot be considered as Revenue expenditure. He further submitted that ESOP expenses has not attained finality and pending before the Hon'ble Supreme Court in 2021] 131 taxmann.com 188 (SC)/[2021] 283 Taxman 290 (SC). In view of this, he submitted that CIT (A) has correctly not ad…

DCIT 2(2)(2), MUMBAI vs. YES BANK LTD., MUMBAI

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

ITA 3236/MUM/2018[2011-12]Status: DisposedITAT Mumbai28 Jun 2022AY 2011-12

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Shekhar L. Gajbhiye, CIT
Section 14ASection 35DSection 40

…last Ltd in ITA No. 512/Mum/2009 dated 26th Nov, 2010, Mahindra & Mahindra Vs. DCIT in ITA No. 8597/Mum/2010 and M/s VIP Industries Ltd vs. DCIT in ITA no. 7242/Mum/2018. He also relied on the decision of Hon'ble Supreme Court in case of EMCO KCP Ltd. Vs. CIT 159 CTR 137, that the shares issued against assets contributed by shareholders cannot be considered as Revenue expenditure. He further submitted that ESOP expenses has not attained finality and pending before the Hon'ble Supreme Court in 2021] 131 taxmann.com 188 (SC)/[2021] 283 Taxman 290 (SC). In view of this, he submitted that CIT (A) has correctly not ad…

ASHOK KUMAR SINHA,GHAZIABAD vs. PRCIT, GHAZIABAD

The appeal of the assessee is allowed

ITA 3615/DEL/2019[2009-10]Status: DisposedITAT Delhi20 Aug 2019AY 2009-10

Bench: Shri N. K. Billaiya & Ms Suchitra Kamble

Section 133(6)Section 147Section 263

…(69 taxmann.com 170, 240 Taxman 221, 384 ITR 200, 286 CTR 113) 11. Shree Manjunathesware Packing Products & Camphor Works Vs CIT [1998] 96 Taxman 1 (SC)/(1998) 231 ITR 53 (SC)/[1997] 143 CTR 406 (SC) 12. EIMCO K.C.P. Ltd. Vs CIT (109 Taxman 151, 242 ITR 659, 159 CTR 137) (SC) 13. CIT Vs Jaykumar B. Patil (236 ITR 469, 156 CTR 476) (SC) 14. Shoreline Hotel (P.) Ltd. Vs CIT [2018] 98 taxmann.com 234 (Bombay) 15. CIT Vs Ballarpur Industries Ltd. [2017] 85 taxmann.com 10 (Bombay) 16. CIT Vs Ashok Logani (11 taxmann.com 208. 202 Taxman 201, 347 ITR 22) 6. We have heard both the parties and perused all the relevant ma…