Escorts Ltd. v. IAC

MAHARASHTRA STATE ELECTRICITY DISTRIBUTION COMPANY LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX (HQ)(JUDL TO CIT-14 , MUMBAI

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

Bench: Shri B R Baskaran, Am & Ms. Kavitha Rajagopal, Jm Maharashtra State Electricity Asst. Cit (Hq)(Judl To Cit-14) Distribution Company Ltd. Mumbai 1St Floor, Prakashgad, Anant Kanekar Vs. Marg, Station Road, Bandra (E), Mumbai-400 051

…eference was made to the following judicial pronouncements wherein it has been held that in the case, the prior period expenses are a meager percentage of the turnover, then the prior-period expenses should be allowed: Escorts Ltd. v/s. IAC reported in (2004) 89 TTJ 221 (Del) Unreported decisions of the Mumbai Bench of the Income Tax Appellate in the case of Rashtriya Chemicals & Fertilizers Ltd. v/s. JCIT ITA Nos. 1013/Mum/2001 and 3863/Mum/2006 8.7. Further reliance was placed on the decision of the Delhi High Court in the case of CIT vs. Vishnu Industrial Gases P. Ltd. in ITR No.229/1988 wherein the High Court…

MAHARASHTRA STATE ELECTRICITY TRANSMISSON CO. LTD.,MUMBAI vs. ADDLL .CIT - RG. 10(1), MUMBAI

In the result, appeal by the assessee is allowed

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

…eference was made to the following judicial pronouncements wherein it has been held that in the case, the prior period expenses are a meager percentage of the turnover, then the prior-period expenses should be allowed: Escorts Ltd. v/s. IAC reported in (2004) 89 TTJ 221 (Del) Unreported decisions of the Mumbai Bench of the Income Tax Appellate in the case of Rashtriya Chemicals & Fertilizers Ltd. v/s. JCIT ITA Nos. 1013/Mum/2001 and 3863/Mum/2006. 8.7. Further reliance was placed on the decision of the Delhi High Court in the case of CIT vs. Vishnu Industrial Gases P. Ltd. in ITR No.229/1988 wherein the High Cour…

ACIT 14(2)(1), MUMBAI vs. MAHARASHTRA STATE ELECTRICITY TRANSMISSION COMPANY LTD, MUMBAI

In the result, appeal by the assessee is allowed

Bench: Shri Pramod Kumar & Shri Sandeep Singh Karhail

…eference was made to the following judicial pronouncements wherein it has been held that in the case, the prior period expenses are a meager percentage of the turnover, then the prior-period expenses should be allowed: Escorts Ltd. v/s. IAC reported in (2004) 89 TTJ 221 (Del) Unreported decisions of the Mumbai Bench of the Income Tax Appellate in the case of Rashtriya Chemicals & Fertilizers Ltd. v/s. JCIT ITA Nos. 1013/Mum/2001 and 3863/Mum/2006. 8.7. Further reliance was placed on the decision of the Delhi High Court in the case of CIT vs. Vishnu Industrial Gases P. Ltd. in ITR No.229/1988 wherein the High Cour…

DCIT 1(2), MUMBAI vs. MAHARSHTRA STATE ELECTRICITY BOARD, MUMBAI

In the result, appeal filed by the Revenue is dismissed

…eference was made to the following judicial pronouncements wherein it has been held that in the case, the prior period expenses are a meager percentage of the turnover, then the prior-period expenses should be allowed: Escorts Ltd. v/s. IAC reported in (2004) 89 TTJ 221 (Del) Unreported decisions of the Mumbai Bench of the Income Tax Appellate in the case of Rashtriya Chemicals & Fertilizers Ltd. v/s. JCIT ITA Nos. 1013/Mum/2001 and 3863/Mum/2006 8.7. Further reliance was placed on the decision of the Delhi High Court in the case of CIT vs. Vishnu Industrial Gases P. Ltd. in ITR No.229/1988 wherein the High Court…

ACIT 14(2)(1), MUMBAI vs. MAHARASHTRA STATE POWER GENERATIN CO LTD, MUMBAI

In the result, appeals of the revenue are dismissed in respect of grounds raised for deletion of disallowance of prior period expenses

Bench: Shri Shamim Yahya & Shri Pavan Kumar Gadale & Acit 14(2)(1) Vs. Maharashtra State 432, Aayakar Bhavan, Power Generation Co. 4Th Floor, Mk Marg, Ltd., Plot No. G-19, Mumbai – 400020. Prakashgad, Anant Kanekar Marg, Bandra (E), Mumbai – 400051. स्थायी लेखा सं./ जीआइआर सं./Pan/Gir No. : Aaepg5643H Appellant .. Respondent Appellant By : Shri Ajay Kumar, Cit-Dr Respondent By : Shri K.K. Ved, Ca Ar Date Of Hearing 31.03.2021 Date Of Pronouncement 22.04.2021 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Revenue Has Filed These Two Appeals Against The Separate Orders Of The Commissioner Of Income Tax (Appeals) - 22, Mumbai, Passed U/S. 143(3) & 250 Of The Income Tax Act, 1961. Since, Both The Appeals Have Common & Identical Issues, They Are Clubbed & Heard Together & Consolidate Order Is Passed. For The Sake Of

…eference was made to the following judicial pronouncements wherein it has been held that in the case, the prior period expenses are a meager percentage of the turnover, then the prior-period expenses should be allowed: Escorts Ltd. v/s. IAC reported in (2004) 89 TTJ 221 (Del) Unreported decisions of the Mumbai Bench of the Income Tax Appellate in the case of Rashtriya Chemicals & Fertilizers Ltd. v/s. JCIT ITA Nos. 1013/Mum/2001 and 3863/Mum/2006 8.7. Further reliance was placed on the decision of the Delhi High Court in the case of CIT vs. Vishnu Industrial Gases P. Ltd. in ITR No.229/1988 wherein the High Cour…

DCIT 1(2), MUMBAI vs. MAHARSHTRA STATE ELECTRICITY BOARD, MUMBAI

In the result , the Cross Objections preferred by the assessee for the Asst Year 2004-05 is partly allowed and Cross Objections preferred by the assessee for the Asst Year 2005-06 is allowed

…eference was made to the following judicial pronouncements wherein it has been held that in the case, the prior period expenses are a meager percentage of the turnover, then the prior-period expenses should be allowed: Escorts Ltd. v/s. IAC reported in (2004) 89 TTJ 221 (Del) Unreported decisions of the Mumbai Bench of the Income Tax Appellate in the case of Rashtriya Chemicals & Fertilizers Ltd. v/s. JCIT ITA Nos. 1013/Mum/2001 and 3863/Mum/2006 8.7. Further reliance was placed on the decision of the Delhi High Court in the case of CIT vs. Vishnu Industrial Gases P. Ltd. in ITR No.229/1988 wherein the High Court…

ACIT 1(2), MUMBAI vs. MAHARASHTRA STATE ELECTRICITY BOARD,, MUMBAI

In the result, appeals of the revenue are dismissed in respect of grounds raised for deletion of disallowance of prior period expenses

Bench: Shri Justice P P Bhatt & Shri M.Balaganesh, Am

…eference was made to the following judicial pronouncements wherein it has been held that in the case, the prior period expenses are a meager percentage of the turnover, then the prior-period expenses should be allowed: Escorts Ltd. v/s. IAC reported in (2004) 89 TTJ 221 (Del) Unreported decisions of the Mumbai Bench of the Income Tax Appellate in the case of Rashtriya Chemicals & Fertilizers Ltd. v/s. JCIT ITA Nos. 1013/Mum/2001 and 3863/Mum/2006 8.7. Further reliance was placed on the decision of the Delhi High Court in the case of CIT vs. Vishnu Industrial Gases P. Ltd. in ITR No.229/1988 wherein the High Court…

BHARAT PETROLEUM CORPORATION LTD,MUMBAI vs. ACIT 2(1)(1), MUMBAI

In the result, the appeals of the assessee are partly allowed and that of the Revenue in AY 2011-12 is dismissed

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

…it constitutes only 0.03% of the turnover of the assessee, which is Rs.1045.22 crores. It is submitted that under these facts, this issue is covered in favour of the assessee by the Tribunal judgment rendered in the case of Escorts Limited Vs. IAC reported in 79 ITD 291 (Del). Our attention was drawn to para No.118 to 121 of this Tribunal Judgment as per which under similar situation this issue was decided by the Tribunal in favour of the assessee. Relevant para no. 121 is reproduced below:- "121. In the peculiar facts and circumstances of the case where the turnover or .he assessee is substantial, some bonafide…

BHARAT PETROLEUM CORPORATION LTD,MUMBAI vs. DCIT (DCIT) RG 2(1), MUMBAI

In the result, the appeals of the assessee are partly allowed and that of the Revenue in AY 2011-12 is dismissed

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am

…it constitutes only 0.03% of the turnover of the assessee, which is Rs.1045.22 crores. It is submitted that under these facts, this issue is covered in favour of the assessee by the Tribunal judgment rendered in the case of Escorts Limited Vs. IAC reported in 79 ITD 291 (Del). Our attention was drawn to para No.118 to 121 of this Tribunal Judgment as per which under similar situation this issue was decided by the Tribunal in favour of the assessee. Relevant para no. 121 is reproduced below:- "121. In the peculiar facts and circumstances of the case where the turnover or .he assessee is substantial, some bonafide…

BHARAT PETROLEUM CORPORATION LTD,MUMBAI vs. ADDL CIT RG 2(1), MUMBAI

Appeal is allowed in favour of assessee

Bench: Hon’Ble Shri G.S. Pannu & Hon’Ble Shri Sandeep Gosain

…it constitutes only 0.03% of the turnover of the assessee, which is Rs.1045.22 crores. It is submitted that under these facts, this issue is covered in favour of the assessee by the Tribunal judgment rendered in the case of Escorts Limited Vs. IAC reported in 79 ITD 291 (Del). Our attention was drawn to para No.118 to 121 of this Tribunal Judgment as per which under similar situation this issue was decided by the Tribunal in favour of the assessee. Relevant para no. 121 is reproduced below:- "121. In the peculiar facts and circumstances of the case where the turnover or .he assessee is substantial, some bonafide…

BHARAT PETROLEUM CORPORATION LTD,MUMBAI vs. ASST CIT (OSD) RG 2(1), MUMBAI

In the result, ground of appeal

Bench: Shri P.K Bansal, Vice- & Shri Pawan Singh

…it constitutes only 0.03% of the turnover of the assessee, which is Rs.1045.22 crores. It is submitted that under these facts, this issue is covered in favour of the assessee by the Tribunal judgment rendered in the case of Escorts Limited Vs. IAC reported in 79 ITD 291 (Del). Our attention was drawn to para No.118 to 121 of this Tribunal Judgment as per which under similar situation this issue was decided by the Tribunal in favour of the assessee. Relevant para no. 121 is reproduced below:- 14 Bharat Petroleum Corporation Ltd ITA no.3636/Mum./2013 & 4279/Mum/2014 "121. In the peculiar facts and circumstances…