Everest Industries Ltd. v. ACIT, ITA

13 ITR 128Reported decision2012#22341 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 348,615 Indian tax judgments — from 2018 to 2024.

Judgments citing Everest Industries Ltd. v. ACIT, ITA

Demi Realtors, Hyderabad vs. DCIT, Circle-6(1), Hyderabad

In the result, the appeal of the assessee is partly allowed for statistical purposes on the above terms

ITA 156/HYD/2023[2008-09]Status: DisposedITAT Hyderabad05 Feb 2024AY 2008-09

Bench: Shri R.K. Panda & Shri Laliet Kumar

For Respondent: Ms. T. Vijaya Lakhsmi, CIT-DR
Section 143(3)Section 37(1)Section 40Section 40A(3)Section 40a

…bed u/r 6DD of the IT Act. Case laws: • Nam Estates Pvt Ltd Vs ITO 428 ITR 186 Karnataka, 2020 - where land was bought as trading stock, 40A (3) provisions were applicable. • Porwal Udhyog (India) Vs CIT 135 ITR /591 (MP), 1982 • Aditya Birla Nuvo Ltd Vs ACIT 13 ITR 128, ITAT Mumbai, 2012—Burden of proof is on assessee to establish exceptional & unavoidable circumstances of Rule 6D1) if applicable. • Attar Singh Gurmukh Singh Vs ITO, 59 Taxmann.com 11, 1991, SC. 14.7. Heard the rival contentions and perused the material on record. On perusal, we find that (a) the Assessing Officer has held that the assessee was…

DCIT Cir - 3(1), Mumbai vs. M/S. Gujarat Ambuja Cements Ltd., Mumbai

In the result, Revenue’s appeal is dismissed

ITA 1416/MUM/2007[2003-2004]Status: DisposedITAT Mumbai10 Aug 2018AY 2003-2004

Bench: Shri Saktijit Dey & Shri N.K. Pradhan

…already available on record. In support of such contention, the learned Authorised Representative relied upon the following decisions:– i) Everest Industries Ltd. v/s ACIT, ITA no.1968/Mum./2005, dated 27.10.2008; ii) Aditya Birla Nuvo Ltd. v/s ACIT, [2012] 13 ITR 128 (Mum.); iii) JCIT v/s Grasim Industries Ltd., M.A. no.247/Mum./2010; iv) Prism Cement Ltd. v/s DCIT, ITA no.5957/Mum./2009; v) National Thermal Power Co. Ltd. v/s CIT, [1998] 229 ITR 383 (SC); vi) Jute Corporation of India Ltd. v/s CIT, [1991] 187 ITR 688 (Bom.); vii) Ahmedabad Electricity Co. Ltd. v/s CIT, [1993] 199 ITR 351 (Bom.) 31 Ambuja Cem…

M/S. Gujarat Ambuja Cements Ltd., Mumbai vs. DCIT RG. 3(1), Mumbai

In the result, Revenue’s appeal is dismissed

ITA 7092/MUM/2005[2002-2003]Status: DisposedITAT Mumbai10 Aug 2018AY 2002-2003

Bench: Shri Saktijit Dey & Shri N.K. Pradhan

…already available on record. In support of such contention, the learned Authorised Representative relied upon the following decisions:– i) Everest Industries Ltd. v/s ACIT, ITA no.1968/Mum./2005, dated 27.10.2008; ii) Aditya Birla Nuvo Ltd. v/s ACIT, [2012] 13 ITR 128 (Mum.); iii) JCIT v/s Grasim Industries Ltd., M.A. no.247/Mum./2010; iv) Prism Cement Ltd. v/s DCIT, ITA no.5957/Mum./2009; v) National Thermal Power Co. Ltd. v/s CIT, [1998] 229 ITR 383 (SC); vi) Jute Corporation of India Ltd. v/s CIT, [1991] 187 ITR 688 (Bom.); vii) Ahmedabad Electricity Co. Ltd. v/s CIT, [1993] 199 ITR 351 (Bom.) 31 Ambuja Cem…

Everest Industries Ltd. v. ACIT, ITA (13 ITR 128) — Cited in 3 Judgments | BharatTax