Eveready Industries India Ltd. v. DCIT

78 ITD 175Income Tax Appellate Tribunal2001#5826 most cited

What is Eveready Industries India Ltd. v. DCIT authority for?

Expenditure incurred for business purposes is revenue in nature. Cases have followed the view that business expenditure is revenue in nature.

20

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2023.

Also referred to as

Eveready Industries India Ltd. v. DCIT · 78 ITD 175 · business expenditure · revenue in nature · Associated Engg. Products · Vesuvius India Limited · ACIT v. Britannia Industries Ltd. · ITO v. Marcopolo Products Private Limited · Star Paper Mills Limited v. DCIT · Otis Elevator Co. (India) Ltd. v. CIT · Gujarat State Export Corporation Ltd. v. CIT · CIT v. Sundaram Industries Ltd.

Judgments citing Eveready Industries India Ltd. v. DCIT

Vesuvius India Limited, Kolkata vs. JCIT(OSD), Circle-11(1), Kolkata

In the result, both the appeals of the assessee are allowed

ITA 229/KOL/2023[2017-18]Status: DisposedITAT Kolkata30 Nov 2023AY 2017-18

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

Section 37

…iness and hence, revenue in nature] Similar view has been taken in the following judgments: Associated Engg. Products -vs.- ITO (1997) 63 ITD 105 Assessment years: 2016-2017 & 2017-2018 Vesuvius India Limited Eveready Industries India Ltd. -vs.- DCIT (2001) 78 ITD 175 (Kol) ACIT -vs.- Britannia Industries Ltd. (Kol - Trib) (ITA No. 1789/Kol/2008) Date of order: 31-08-2010 ITO -vs.- Marcopolo Products Private Limited (2016) 159 ITD 266 (Kol - Trib); Star Paper Mills Limited vs DCIT (I.T.A. No.l27/Kol/2021) Date of order: 26-10-2021; Otis Elevator Co. (India) Ltd. -vs- CIT (1992) 195 ITR 682 (Bom); Gujarat State…

Vesuvius India Limited, Kolkata vs. JCIT(OSD), Circle-11(1), Kolkata

In the result, both the appeals of the assessee are allowed

ITA 228/KOL/2023[2016-17]Status: DisposedITAT Kolkata30 Nov 2023AY 2016-17

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

Section 37

…iness and hence, revenue in nature] Similar view has been taken in the following judgments: Associated Engg. Products -vs.- ITO (1997) 63 ITD 105 Assessment years: 2016-2017 & 2017-2018 Vesuvius India Limited Eveready Industries India Ltd. -vs.- DCIT (2001) 78 ITD 175 (Kol) ACIT -vs.- Britannia Industries Ltd. (Kol - Trib) (ITA No. 1789/Kol/2008) Date of order: 31-08-2010 ITO -vs.- Marcopolo Products Private Limited (2016) 159 ITD 266 (Kol - Trib); Star Paper Mills Limited vs DCIT (I.T.A. No.l27/Kol/2021) Date of order: 26-10-2021; Otis Elevator Co. (India) Ltd. -vs- CIT (1992) 195 ITR 682 (Bom); Gujarat State…

Ansal Theatres & Clubotels Pvt Ltd, New Delhi vs. ACIT- Circle- 2(2), New Delhi

ITA 4841/DEL/2019[2014-15]Status: DisposedITAT Delhi22 Nov 2023AY 2014-15

Bench: Shri M. Balaganesh & Shri Anubhav Sharmaassessment Year: 2014-15

Section 143(3)Section 36(2)Section 37(1)

…`1IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER Assessment Year: 2014-15 Ansal Theatres & Clubotels (P) Ltd., Vs ACIT, Circle-2(2), 115, Ansal Bhawan, New Delhi. 16, Kasturba Gandhi Marg, New Delhi. PAN: AAACG0509R Appellant Respondent Assessee represented by Shri R.S. Singhvi, Adv. & Sh. Satyajeet Goel, Adv. Department represented by Shri Zafarul Haque Tanweer CIT,DR Date of hearing 30.10.2023 Date of pronouncement 22 .11.2023 O R D E R PER ANUBHAV SHARMA, JM: The assessee has come in appeal again…

Addl. CIT-(08), New Delhi vs. Sopra India Pvt. Ltd., New Delhi

In the result, appeal of the Revenue thus is dismissed

ITA 1175/DEL/2019[2012-13]Status: DisposedITAT Delhi16 Oct 2023AY 2012-13
Section 143(3)Section 145

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI BEFORE, SH. CHANDRA MOHAN GARG, JUDICIAL MEMBER AND SH. PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER ACIT(08) Vs. Sopra India Pvt. Ltd. New Delhi 190, SFS, Hauz Khas, New Delhi – 110 016 PAN No. AAACM 1762 C (APPELLANT) (RESPONDENT) Assessee by Shri Neeraj Jain, Adv. & Shri Himanshu Goel, C.A. Revenue by Shri Anuj Garg, Sr. D.R. Date of hearing: 10.10.2023 Date of Pronouncement: 16.10.2023 ORDER PER PRADIP KUMAR KEDIA, AM : The captioned appeal has been filed by the Revenue against the First Appellate Order of the Learned Commissioner of Income Tax (Appea…

DCIT, Circle - 12(1), Kolkata vs. M/S. Amri Hospitals Ltd., Kolkata

In the result, the appeal filed by the Revenue is partly allowed for statistical purposes

ITA 977/KOL/2018[2014-15]Status: DisposedITAT Kolkata20 Oct 2022AY 2014-15

Bench: Dr. Manish Borad & Sri Sonjoy Sarma

Section 143(2)Section 143(3)Section 250Section 37Section 37(1)

…annot be said to Prohibited by law. The Respondent Assessee Company at the cost of repetition refers to the binding Third Member Judgment of the Hon’ble Jurisdictional Calcutta Tribunal rendered in the case of Eveready Industries India Limited vs. DCIT [2001] 78 ITD 175 (Cal)(TM) In the said judgment the Hon’ble Calcutta Bench was concerned with the case of Compensation paid to victims of Bhopal Gas Leak Tragedy as per the Judgment of Hon’ble Supreme Court. The Hon’ble Third Member held that such Compensation was paid to compensate the parties for the injuries they suffered and in no way it was granted by way of…

Addl. CIT, Spl Rnage-7, New Delhi vs. Ongc Videsh Ltd., New Delhi

In the result, the appeals of the Revenue stand dismissed

ITA 2379/DEL/2019[2014-15]Status: DisposedITAT Delhi05 Sept 2022AY 2014-15
Section 32(1)(ii)Section 42

…e case and in law, the Ld.CIT(A)has erred in law and on facts in ignoring the decisions of the Hon'ble Madras High Court in the case of Madras Fertilizers Ltd. Vs CIT (Mad) 209 ITR 174 and Hon'ble ITAT, New Delhi in the case of Eveready industries India Ltd., 78 ITD 175 on the same issue. 14. On the facts and circumstances of the case and in law, the Ld.CIT(A) is erred in deleting the disallowance of excess depreciation claimed on UPS@60% amounting to Rs.3,58,080/- by ignoring the observation in the assessment order that UPS is not an integral part of the computer system like printer and scanner which are includ…

Addl. CIT, Special Range-7, New Delhi vs. Ongc Videsh Ltd., New Delhi

In the result, the appeals of the Revenue stand dismissed

ITA 158/DEL/2018[2013-14]Status: DisposedITAT Delhi05 Sept 2022AY 2013-14
Section 32(1)(ii)Section 42

…e case and in law, the Ld.CIT(A)has erred in law and on facts in ignoring the decisions of the Hon'ble Madras High Court in the case of Madras Fertilizers Ltd. Vs CIT (Mad) 209 ITR 174 and Hon'ble ITAT, New Delhi in the case of Eveready industries India Ltd., 78 ITD 175 on the same issue. 14. On the facts and circumstances of the case and in law, the Ld.CIT(A) is erred in deleting the disallowance of excess depreciation claimed on UPS@60% amounting to Rs.3,58,080/- by ignoring the observation in the assessment order that UPS is not an integral part of the computer system like printer and scanner which are includ…

Addl. CIT, Special Range-7, New Delhi vs. Ongc Videsh Ltd., New Delhi

In the result, the appeals of the Revenue stand dismissed

ITA 7435/DEL/2017[2011-12]Status: DisposedITAT Delhi05 Sept 2022AY 2011-12
Section 32(1)(ii)Section 42

…e case and in law, the Ld.CIT(A)has erred in law and on facts in ignoring the decisions of the Hon'ble Madras High Court in the case of Madras Fertilizers Ltd. Vs CIT (Mad) 209 ITR 174 and Hon'ble ITAT, New Delhi in the case of Eveready industries India Ltd., 78 ITD 175 on the same issue. 14. On the facts and circumstances of the case and in law, the Ld.CIT(A) is erred in deleting the disallowance of excess depreciation claimed on UPS@60% amounting to Rs.3,58,080/- by ignoring the observation in the assessment order that UPS is not an integral part of the computer system like printer and scanner which are includ…

Addl. CIT, Special Range- 7, New Delhi vs. Ongc Videsh Ltd., New Delhi

In the result, the appeals of the Revenue stand dismissed

ITA 6281/DEL/2017[2012-13]Status: DisposedITAT Delhi05 Sept 2022AY 2012-13
Section 32(1)(ii)Section 42

…e case and in law, the Ld.CIT(A)has erred in law and on facts in ignoring the decisions of the Hon'ble Madras High Court in the case of Madras Fertilizers Ltd. Vs CIT (Mad) 209 ITR 174 and Hon'ble ITAT, New Delhi in the case of Eveready industries India Ltd., 78 ITD 175 on the same issue. 14. On the facts and circumstances of the case and in law, the Ld.CIT(A) is erred in deleting the disallowance of excess depreciation claimed on UPS@60% amounting to Rs.3,58,080/- by ignoring the observation in the assessment order that UPS is not an integral part of the computer system like printer and scanner which are includ…

Addl. CIT, New Delhi vs. M/S Ongc Videsh Ltd., New Delhi

In the result, the appeals of the Revenue stand dismissed

ITA 2119/DEL/2017[2010-11]Status: DisposedITAT Delhi05 Sept 2022AY 2010-11
Section 32(1)(ii)Section 42

…e case and in law, the Ld.CIT(A)has erred in law and on facts in ignoring the decisions of the Hon'ble Madras High Court in the case of Madras Fertilizers Ltd. Vs CIT (Mad) 209 ITR 174 and Hon'ble ITAT, New Delhi in the case of Eveready industries India Ltd., 78 ITD 175 on the same issue. 14. On the facts and circumstances of the case and in law, the Ld.CIT(A) is erred in deleting the disallowance of excess depreciation claimed on UPS@60% amounting to Rs.3,58,080/- by ignoring the observation in the assessment order that UPS is not an integral part of the computer system like printer and scanner which are includ…

DCIT, New Delhi vs. M/S. Ongc Videsh Ltd., New Delhi

In the result, the appeals of the Revenue stand dismissed

ITA 3816/DEL/2015[2009-10]Status: DisposedITAT Delhi05 Sept 2022AY 2009-10
Section 32(1)(ii)Section 42

…e case and in law, the Ld.CIT(A)has erred in law and on facts in ignoring the decisions of the Hon'ble Madras High Court in the case of Madras Fertilizers Ltd. Vs CIT (Mad) 209 ITR 174 and Hon'ble ITAT, New Delhi in the case of Eveready industries India Ltd., 78 ITD 175 on the same issue. 14. On the facts and circumstances of the case and in law, the Ld.CIT(A) is erred in deleting the disallowance of excess depreciation claimed on UPS@60% amounting to Rs.3,58,080/- by ignoring the observation in the assessment order that UPS is not an integral part of the computer system like printer and scanner which are includ…

DCIT, New Delhi vs. M/S. Ongc Videsh Ltd., New Delhi

In the result, the appeals of the Revenue stand dismissed

ITA 3210/DEL/2014[2008-09]Status: DisposedITAT Delhi05 Sept 2022AY 2008-09
Section 32(1)(ii)Section 42

…e case and in law, the Ld.CIT(A)has erred in law and on facts in ignoring the decisions of the Hon'ble Madras High Court in the case of Madras Fertilizers Ltd. Vs CIT (Mad) 209 ITR 174 and Hon'ble ITAT, New Delhi in the case of Eveready industries India Ltd., 78 ITD 175 on the same issue. 14. On the facts and circumstances of the case and in law, the Ld.CIT(A) is erred in deleting the disallowance of excess depreciation claimed on UPS@60% amounting to Rs.3,58,080/- by ignoring the observation in the assessment order that UPS is not an integral part of the computer system like printer and scanner which are includ…

DCIT, New Delhi vs. M/S. Ongc Videsh Ltd., New Delhi

In the result, the appeals of the Revenue stand dismissed

ITA 3209/DEL/2014[2007-08]Status: DisposedITAT Delhi05 Sept 2022AY 2007-08
Section 32(1)(ii)Section 42

…e case and in law, the Ld.CIT(A)has erred in law and on facts in ignoring the decisions of the Hon'ble Madras High Court in the case of Madras Fertilizers Ltd. Vs CIT (Mad) 209 ITR 174 and Hon'ble ITAT, New Delhi in the case of Eveready industries India Ltd., 78 ITD 175 on the same issue. 14. On the facts and circumstances of the case and in law, the Ld.CIT(A) is erred in deleting the disallowance of excess depreciation claimed on UPS@60% amounting to Rs.3,58,080/- by ignoring the observation in the assessment order that UPS is not an integral part of the computer system like printer and scanner which are includ…

D.C.I.T Cir - 10, Kolkata vs. M/S Vesuvius India Ltd., Kolkata

In the result, the appeal of the revenue is dismissed and that of appeal of the assessee is treated as partly allowed for statistical purposes

ITA 2127/KOL/2013[2006-07]Status: DisposedITAT Kolkata15 Sept 2017AY 2006-07

…Kolkata Tribunal held ‘payment of subscription to club is a revenue expenditure incurred for the purpose of business’. Similar view has been taken regarding club membership by the jurisdictional tribunal in the case of Eveready Industries India Ltd. vs DCIT (78 ITD 175) (Kol). I have considered the finding of the AO and the written submission and case laws filed by the AR. I find that this issue is squarely covered by the ratio decided by the jurisdictional tribunal in Eveready Industries Ltd. (supra) case. Accordingly, assessee’s appeal on ground no 6 is allowed.” Being aggrieved by the order of Ld. CIT (A), Re…

Vesuvius India Limited, Kolkata vs. D.C.I.T Cir - 10, Kolkata

In the result, the appeal of the revenue is dismissed and that of appeal of the assessee is treated as partly allowed for statistical purposes

ITA 2024/KOL/2013[2006-07]Status: DisposedITAT Kolkata15 Sept 2017AY 2006-07

…Kolkata Tribunal held ‘payment of subscription to club is a revenue expenditure incurred for the purpose of business’. Similar view has been taken regarding club membership by the jurisdictional tribunal in the case of Eveready Industries India Ltd. vs DCIT (78 ITD 175) (Kol). I have considered the finding of the AO and the written submission and case laws filed by the AR. I find that this issue is squarely covered by the ratio decided by the jurisdictional tribunal in Eveready Industries Ltd. (supra) case. Accordingly, assessee’s appeal on ground no 6 is allowed.” Being aggrieved by the order of Ld. CIT (A), Re…

ITO 16(2)(4), Mumbai vs. Surya Gems, Mumbai

The appeal of the Revenue is dismissed

ITA 292/MUM/2014[2009-10]Status: DisposedITAT Mumbai08 Mar 2017AY 2009-10

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2009-10 Income Tax Officer-16(2)(4), M/S Surya Gems, बनाम/ 02Nd Floor, Matru Mandir, Flat No.4, 02Nd Floor, Tardeo Road, Bhaveshwar Sgar Patel Vs. Mumbai-400007 Compound 20 Napean Sea Road, Mumbai-400020 (याजस्व /Revenue) (यनधाारयती /Assessee) P.A. No. Aakfs6513Q याजस्व की ओर से / Revenue By Shri B.S. Bist-Dr यनधाारयती की ओर से / Assessee By None ुनवाई की तायीख / Date Of Hearing : 14/02/2017 आदेश की तायीख /Date Of Order: 08/03/2017

…etermined as per the requirements of Income tax Act and as per the guidelines prescribed for preparation of accounts. 38. Ld CIT D.R.further referred to the decision of the ITAT Calcutta Bench Third Member in the case of Eveready Industries India Ltd v. DCIT, 78 ITD 175 (Cal)™, wherein, it was held that exchange fluctuation loss of un-matured forward covers (i.e. forward contract) could not be allowed on accrual basis. However, since the assessee claimed that such contract got settled during the year and only remittance was made, the issue was set aside to the AO to ascertain the fact and reconsider the claim of…

DCIT 8(2), Mumbai vs. Hexaware Technologies Ltd, Navi Mumbai

In the result appeal filed by revenue is dismissed whereas Cross objection filed by assessee is allowed in part for statistical purposes

ITA 4688/MUM/2013[2008-09]Status: DisposedITAT Mumbai17 Oct 2016AY 2008-09
For Appellant: Shri Vijay MehtaFor Respondent: Shri Rahul Raman

…d reliance on the following case laws for allowing the loss so incurred as business loss. i) Badridas Oaga vs CIT [1958] (34 ITR 10) (SC) ii) Pandyan Builders Vs. Inspecting Assistant Commissioner (45TTJ 524)(Mad) iii) Eveready Industries India Ltd. Vs. DCIT (78 ITD 175)(Cal)(TM) iv) Kothari & Sons Vs. CIT (1996) (61 ITR 23)(Mad.) However, the AO did not accept the assessee’s contention and held that the assessee had itself stated that these transactions were unauthorized and outside the companies normal hedging programme. AO stated that as per the copy of FIR dated January 30, 2008 it has been mentioned that the…

DCIT Cir. - 6(3), Mumbai vs. M/S. Metro Exporters P. Ltd., Mumbai

In the result, appeal filed by the assessee is allowed and the appeal of Revenue is partly allowed

ITA 2094/MUM/2008[2002-2003]Status: DisposedITAT Mumbai08 Jun 2016AY 2002-2003

Bench: Shri B.R. Baskaran & Shri Pawan Singh

For Respondent: Shri Abhinay Kumbhar (DR)
Section 147Section 14ASection 28Section 3Section 37(1)Section 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “B”, MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA No. 2026/Mum/2008 for A Y - 2002-03 M/s Metro Exporters Pvt. Ltd. Asst. CIT, Range-6(3), Kakad Chambers, 132, Dr. A.B. Road, Aayakar Bhavan, M.K. Road, Vs. Worli, Mumbai-400018 Mumbai-400020 . PAN: AABCM0349J (Appellant) (Respondent) ITA No. 2094/Mum/2008 A Y- 2002-03 Asst. CIT, Range-6(3), M/s Metro Exporters Pvt. Ltd. Shah 5th Floor, Room No. 522, House, 5th Floor, Shivsagar Estate, Aayakar Bhavan, M.K. Road, Dr. A.B. Road, Worli, Vs. Mumbai-400020 . Mumbai-400018 PAN…

M/S. Metro Exporters Pvt. Ltd, Mumbai vs. The ACIT RG 6(3), Mumbai

In the result, appeal filed by the assessee is allowed and the appeal of Revenue is partly allowed

ITA 2026/MUM/2008[2002-2003]Status: DisposedITAT Mumbai08 Jun 2016AY 2002-2003

Bench: Shri B.R. Baskaran & Shri Pawan Singh

For Respondent: Shri Abhinay Kumbhar (DR)
Section 147Section 14ASection 28Section 3Section 37(1)Section 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “B”, MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA No. 2026/Mum/2008 for A Y - 2002-03 M/s Metro Exporters Pvt. Ltd. Asst. CIT, Range-6(3), Kakad Chambers, 132, Dr. A.B. Road, Aayakar Bhavan, M.K. Road, Vs. Worli, Mumbai-400018 Mumbai-400020 . PAN: AABCM0349J (Appellant) (Respondent) ITA No. 2094/Mum/2008 A Y- 2002-03 Asst. CIT, Range-6(3), M/s Metro Exporters Pvt. Ltd. Shah 5th Floor, Room No. 522, House, 5th Floor, Shivsagar Estate, Aayakar Bhavan, M.K. Road, Dr. A.B. Road, Worli, Vs. Mumbai-400020 . Mumbai-400018 PAN…

Inventurus Knowledge Services P.Ltd, Navi Mumbai vs. ITO 5(2)(1), Mumbai

In the result appeal of the assessee company is partly allowed

ITA 5922/MUM/2013[2009-10]Status: DisposedITAT Mumbai21 Oct 2015AY 2009-10

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: - 2009-10 Inventurus Knowledge Services V. Income Tax Officer Pvt. Ltd. 5(2)(1), C/O. Seren Properties Pvt. Ltd. 525, Aaykar Bhavan, (Sez), Unit No. 204, Build No. 5, M.K. Road, Mindspace Airoli Camp, Plot No. Mumbai - 400 020. 3, Gat No. 95, Kalwa Trans, Thane Creek, Midc Industrial Area, Thane Belapur Road, Airoli, Navi Mumbai – 400 708. Pan/Gir No. Aabck4601P

…termined as per the requirements of Income tax Act and as per the guidelines prescribed for preparation of accounts. 38. Ld CIT D.R. further referred to the decision of the ITAT Calcutta Bench Third Member in the case of Eveready Industries India Ltd v. DCIT, 78 ITD 175 (Cal)',wherein, it was held that exchange fluctuation loss of un-matured forward covers (i.e. forward contract) could not be allowed on accrual basis. However, since the assessee claimed that such contract got settled during the year and only remittance was made, the issue was set aside to the assessing officer to ascertain the fact and reconsider…