Gannon Norton Metal Diamond Dies Ltd. v. CIT

163 ITR 606High Court1987#11120 most cited
10

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2010 to 2023.

Judgments citing Gannon Norton Metal Diamond Dies Ltd. v. CIT

DCIT 7(3), MUMBAI vs. WYETH LTD ( FORMERLY KNOWN AS WYETH LEDERLE LTD), MUMBAI

In the result, appeal filed by the revenue is dismissed

ITA 3508/MUM/2010[2004-05]Status: DisposedITAT Mumbai09 Jun 2023AY 2004-05

Bench: Shri Vikas Awasthy, Hon’Ble & Shri S. Rifaur Rahman, Hon'Blepfizer Limited V. Acit- Special Range 23 (Earlier Known As Wyeth Lederle Limited) [Now The Dcit-Circle 7(3)] The Capital, G-Block Aayakar Bhavan Bandra Kurla Complex Mumbai- 400020 Bandra (E), Mumbai -400012 Pan: Aaacp3334M (Appellant) (Respondent) Acit- Ltu V. M/S. Wyeth Limited 28Th Floor, Centre - 1 (Formerly Known As Wyeth Lederle Ltd) Rbc Mahindra Towers World Trade Centre 4Th Floor, A- Wing Cuffe Parade, Mumbai Dr G.M. Bhosale Road Worli, Mumbai- 400055 Pan: Aaacw2641Q (Appellant) (Respondent) Assessee Represented By : Shri Vishal Kalra Department Represented By : Smt. Sujatha Iyangar

Section 43(6)Section 80H

…233 ITR 468 (SC) v. Empire Jute Co. Ltd. v. CIT 124 ITR 1 (SC) vi. Assam Bengal Cement Co. Ltd. Vs. Commissioner of ITC (27 ITR 34) (SC) vii. CIT vs B.N. Elias & Co. (P) Ltd. [1987] 168 ITR 190 (Cal.) viii. Gannon Norton Metal Diamond Dies Ltd. v. CIT [1987] 163 ITR 606 (Bom.) ix. FennerWoodroffe& Ltd. v. CIT [1976] 102 ITR 665 (Mad.) Cases wherein it is held that treatment in the books of accounts is irrelevant for determining the tax allowability of the expense i. Kedarnath Jute Mfg Co. vs CIT: [1971] 82 ITR 363 (SC) ii. Taparia Tools Ltd vs JCIT: [2015] 372 ITR 605 (SC) iii. Coforge Ltd vs ACIT: [2021] 436 IT…

KADAVANTHARA BUILDERS PVT LTD,CHENNAI vs. ITO, WARD -4(2), CHENNAI

The appeal of the assessee is partly allowed for statistical purposes

ITA 2485/CHNY/2019[2015-16]Status: DisposedITAT Bangalore12 May 2023AY 2015-16
Section 143(3)

…incurred. In this regard, the assessee relied on the following judgments. i. MK Bross (P) Ltd. Vs. CIT reported in 86 ITR 38 (SC) ii. CIT Vs. BN Elias & Co. (P) Ltd. reported in 168 ITR 190 (Cal) iii. Gamon Norton Metal Diamond Dies Ltd. Vs. CIT reported in 163 ITR 606 (Bom) 16. He further submitted that the interest received by the assessee on deposits is income from business, the funds were kept for the business purpose. The AO & CIT (A) have wrongly held that it is income from other sources. He further submitted that even if the said interest income is brought to tax under the head income from other sources,…

KADAVANTHARA BUILDERS PVT LTD,CHENNAI vs. ITO, WARD -4(2), CHENNAI

The appeal of the assessee is partly allowed for statistical purposes

ITA 2484/CHNY/2019[2014-15]Status: DisposedITAT Bangalore12 May 2023AY 2014-15
Section 143(3)

…incurred. In this regard, the assessee relied on the following judgments. i. MK Bross (P) Ltd. Vs. CIT reported in 86 ITR 38 (SC) ii. CIT Vs. BN Elias & Co. (P) Ltd. reported in 168 ITR 190 (Cal) iii. Gamon Norton Metal Diamond Dies Ltd. Vs. CIT reported in 163 ITR 606 (Bom) 16. He further submitted that the interest received by the assessee on deposits is income from business, the funds were kept for the business purpose. The AO & CIT (A) have wrongly held that it is income from other sources. He further submitted that even if the said interest income is brought to tax under the head income from other sources,…

HITACHI METGLAS (INDIA) PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE- 11(2), NEW DELHI

In the result, the appeal filed by the assessee in ITA No

ITA 5906/DEL/2017[2010-11]Status: DisposedITAT Delhi11 Nov 2021AY 2010-11

Bench: Shri N.K. Billaiya & Shri Kuldip Singh[A.Y 2010-11]

For Appellant: Shri Saleel Kapoor, AdvFor Respondent: Shri Pradeep Kumar Meel, CIT- DR

…. CIT: 86 ITR 38 (SC) · • Travancore Sugars & Chemicals Ltd. v. CIT: 62 ITR 566 (SC) · • CIT v. B.N. Elias & Co. (P.) Ltd.: 168 ITR 190 (Cal.) · • CIT v. Hindustan General Electric Corpn. Ltd.: 81 ITR 243 (Cal.) · Gannon Norton Metal Diamond Dies Ltd. v. CIT: 163 ITR 606 (Bom.) · CIT v. Mehta Transport Co.: 160 ITR 35 (Guj.) · • Saraswati Industrial Syndicate Ltd. v. CIT: 137 ITR 886 (Punj. &Har.) CIT v. Oblum Electrical Industries.: 127 ITR 409 (AP) Further, attention is invited to following decisions wherein it has been held that shifting/ relocation expenses incurred by the assessee in the course of business…

ACIT, NEW DELHI vs. M/S. DENSO INDIA LTD., NEW DELHI

In the result ground No. 4 and 5 of the appeal of the revenue are dismissed

ITA 4365/DEL/2011[2005-06]Status: DisposedITAT Delhi05 Dec 2017AY 2005-06

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

For Appellant: Shri Kanchal Kaushal, CAFor Respondent: Shri Amrendra Kumar, CIT DR
Section 92C

…ining of its employees in India as it facilitated the assessee's trading and manufacturing operation in India under agreement with Denso Corporation, Japan. After considering the verdict of Hon'ble High Court reported at 159 ITR 673 (2003-TIOL-278-HC-KOL-IT), 160 ITR 35 and 124 ITR 1 (2002- TIOL-238-SC-IT), the CIT(A) deleted the addition and held that assessee has incurred the above expenditure for training of its employees which facilitated the assessee's trading operation to be carried on more efficiently or more profitably. No interference is required in the order of the CIT(A) for deleting the disallowance o…

ACIT, NEW DELHI vs. M/S DENSO INDIA LTD., NEW DELHI

In the result ground No. 4 and 5 of the appeal of the revenue are dismissed

ITA 1751/DEL/2011[2004-05]Status: DisposedITAT Delhi05 Dec 2017AY 2004-05

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

For Appellant: Shri Kanchal Kaushal, CAFor Respondent: Shri Amrendra Kumar, CIT DR
Section 92C

…ining of its employees in India as it facilitated the assessee's trading and manufacturing operation in India under agreement with Denso Corporation, Japan. After considering the verdict of Hon'ble High Court reported at 159 ITR 673 (2003-TIOL-278-HC-KOL-IT), 160 ITR 35 and 124 ITR 1 (2002- TIOL-238-SC-IT), the CIT(A) deleted the addition and held that assessee has incurred the above expenditure for training of its employees which facilitated the assessee's trading operation to be carried on more efficiently or more profitably. No interference is required in the order of the CIT(A) for deleting the disallowance o…

M/S. HONDA SIEL POWER PRODUCTS LTD.,GAUTAM BUDH NAGAR vs. DCIT, NEW DELHI

In the result, both the appeals of the assessee-company are partly allowed for statistical purposes

ITA 551/DEL/2014[2009-10]Status: DisposedITAT Delhi13 Apr 2016AY 2009-10

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

For Appellant: S/Sh. Neeraj Jain, AdvFor Respondent: Sh. Armendra Kumar, CIT/ DR
Section 143(3)Section 144CSection 2Section 92B

…Ltd. v. CIT: 86 ITR 38 (SC) • Travancore Sugars & Chemicals Ltd. v. CIT: 62 ITR 566 (SC) • CIT v. B.N. Elias & Co. (P.) Ltd.: 168 ITR 190 (Cal.) • CIT v. Hindustan General Electric Corpn. Ltd.: 81 ITR 243 (Cal.) • Gannon Norton Metal Diamond Dies Ltd. v. CIT: 163 ITR 606 (Bom.) • CIT v. Mehta Transport Co.: 160 ITR 35 (Guj.) • Saraswati Industrial Syndicate Ltd. v. CIT: 137 ITR 886 (Punj. &Har.) • CIT v. Oblum Electrical Industries.: 127 ITR 409 (AP) Further, attention is invited to following decisions wherein it has been held that shifting/ relocation expenses incurred by the assessee in the course of business a…

C.I.T vs. DENSO INDIA LTD

ITA/16/2008HC Delhi08 Oct 2010

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MS. JUSTICE REVA KHETRAPAL

…an. Under these circumstances, opined the Tribunal, the payment made was revenue in nature and thus allowable as expenditure For this view, the Tribunal relied upon the judgment of Bombay High Court in Gannon Norton Metal Diamond Dies Ltd. Vs. CIT, 163 ITR 606 and extracted the following discussion threfrom:- “It is undoubtedly true that in the instant case a new company was being formed to manufacture the product which was hitherto being manufactured by the foreign collaborators and imported by the Indian partners, that is, Gannon Dunkerley & Company Ltd. It is, however, to be remembered that…

THE COMMISSIONER OF INCOME TAX-II vs. MUNJAL SHOWA LTD

Accordingly, they are dismissed without any order as to

ITA/85/2009HC Delhi06 Sept 2010
Section 143(3)

…sharing of any technical know-how, designs, drawings, etc. The tribunal concurred with the view expressed by the CIT. On a further appeal being preferred, the Division Bench referred to the decision in Gannon Norton Metal Diamond Dies Ltd. v. CIT [1987] 163 ITR 606 wherein the Bombay High Court held that if the know-how acquired relates to the process of manufacture, then any payment made for the said purpose would have to be considered as a revenue expenditure since the acquirer does not obtain any asset of an enduring nature because it is more in the nature of a payment for consultancy. The Bench re…

THE COMMISSIONER OF INCOME TAX-II vs. MUNJAL SHOWA LTD

Accordingly, they are dismissed without any order as to

ITA/86/2009HC Delhi06 Sept 2010
Section 143(3)

…sharing of any technical know-how, designs, drawings, etc. The tribunal concurred with the view expressed by the CIT. On a further appeal being preferred, the Division Bench referred to the decision in Gannon Norton Metal Diamond Dies Ltd. v. CIT [1987] 163 ITR 606 wherein the Bombay High Court held that if the know-how acquired relates to the process of manufacture, then any payment made for the said purpose would have to be considered as a revenue expenditure since the acquirer does not obtain any asset of an enduring nature because it is more in the nature of a payment for consultancy. The Bench re…