Genesys International Corpn. Ltd. v. Asst. CIT

55 SOT 10Income Tax Appellate Tribunal2013#21062 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2016.

Judgments citing Genesys International Corpn. Ltd. v. Asst. CIT

ITO WD 8(2)(1), Mumbai vs. Hexagaon Nutrition P.Ltd, Mumbai

In the result, the assessee’s appeal is allowed

ITA 6720/MUM/2014[2011-12]Status: DisposedITAT Mumbai07 Jul 2016AY 2011-12

Bench: Shri Sanjay Arora, Am & Shri Amarjit Singh, Jm आयकर अपील सं./I.T.A. No. 6720/Mum/2014 ("नधा"रण वष" / Assessment Year: 2011-12) Ito, Ward 8(2)(1), Hexagaon Nutrition Pvt. Ltd. बनाम/ 2Nd Floor, Room No. 216-A, 404, Globle Chambers, Aayakar Bhavan, M. K. Road, Adarsh Nagar, Andheri (W), Vs. Mumbai-400 020 Mumbai-400 053 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaach 2359 E (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri Satyanarayana Raju ""यथ" क" ओर से/Respondent By : Ms. Vinita Shah सुनवाई क" तार"ख / : 28.6.2016 Date Of Hearing घोषणा क" तार"ख / : 07.7.2016 Date Of Pronouncement आदेश / O R D E R Per Sanjay Arora, A. M.: This Is An Appeal By The Revenue Directed Against The Order By The Commissioner Of Income Tax (Appeals)-17, Mumbai (‘Cit(A)’ For Short) Dated 07.8.2014, Partly Allowing The Assessee’S Appeal Contesting Its Assessment U/S.143(3) Of The Income Tax Act, 1961 (‘The Act’ Hereinafter) For The Assessment Year (A.Y.) 2011-12 Vide Order Dated 21.2.2014. 2. The Issue Arising In The Instant Appeal Is The Exigibility To Tax Under Book Profit Tax U/S. 115Jb Of The Act Of The Income Of The Assessee’S Sez Unit; The Income There- From Being Otherwise Exempt Under Chapter Iii Of This Act.

For Appellant: Shri Satyanarayana RajuFor Respondent: Ms. Vinita Shah
Section 10Section 10ASection 115JSection 143(3)Section 3

…of this sub-section shall cease to have effect in respect of any previous year relevant to the assessment year commencing on or after the 1st day of April, 2012.’ The Tribunal, following its’ decision in Genesys International Corpn. Ltd. vs. Asst. CIT [2013] 55 SOT 10 (Mum), allowed relief to the assessee for A.Y. 2008-09 (in ITA No. 4035/Mum/2012 dated 08.5.2015/copy on record). The tribunal, in the case of Genesys International Corpn. Ltd. (supra), after analyzing the relevant provisions, held that even though clauses (f) and (ii) of Explanation 1 to section 115JB stand since amended, i.e., w.e.f. A.Y. 2008-09…

Globatronix (Bombay) P Ltd, Mumbai vs. DCIT Cir 8(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 41/MUM/2012[2008-09]Status: DisposedITAT Mumbai30 Mar 2016AY 2008-09

Bench: Shri D. Karunakara Rao & Shri Pawan Singhi.T.A. No.41/M/2012 (Assessment Year: 2008-2009) I.T.A. No.2861/M/2012 (Assessment Year: 2009-2010) फनाभ/ Globatronix (Bombay) Pvt Ltd., Dcit, Circle 8(1), Unit No.157, Sdf-V, Aayakar Bhavan, Vs. Seepz, Andheri (E), Mumbai. Mumbai – 400 096. स्थामी रेखा सं./ Pan : Aaacg8030H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

For Appellant: Shri P.J. Pardiwala, ARFor Respondent: Shri K.P. R.R. Murty, DR
Section 10ASection 148Section 263

…in by the Finance Act, 2007. Consequently, the MAT provisions do not apply to the assessee. For this proposition, Ld Counsel for the assessee brought our attention to the decision of the Tribunal in the case of Genesys International Corpn. Ltd vs. ACIT (2013) 55 SOT 10, dated 1.12.2012, which is relevant for the following proposition:- “A unit in a SEZ will be covered by sub-section (6) to section 115JB of the Act irrespective of the fact that those units were claiming deduction u/s 10A of the Act.” He also relied on another decision of the coordinate Bench decision in the case of G. Jewelcraft Ltd vs. ITO [2015…

Finestar Jewellery and Diamonds P.Ltd, Mumbai vs. ITO WD 5(1)(4), Mumbai

In the result, the Revenue’s appeal for A

ITA 957/MUM/2014[2010-11]Status: DisposedITAT Mumbai05 Feb 2016AY 2010-11

Bench: Shri Jason P. Boaz & Shri Sandeep Gosainm/S. Finestar Jewellery & Income Tax Officer-5(1)(4) Diamonds Pvt. Ltd. Àayakar Bhavan, M.K. Road Vs. Unit No. 101, Seepz Mumbai 400020 Andheri (E), Mumbai 400096 Pan - Aaacf7241F Appellant Respondent Income Tax Officer-5(1)(4) M/S. Finestar Jewellery & Àayakar Bhavan, M.K. Road Diamonds Pvt. Ltd. Vs. Mumbai 400020 Unit No. 101, Seepz Andheri (E), Mumbai 400096 Pan - Aaacf7241F Appellant Respondent

For Appellant: Shri Sunil HirawatFor Respondent: Shri Sumit Kumar
Section 10ASection 115JSection 143(3)

…ench of this Tribunal in assessee’s own case for A.Y. 2009-10, vide order in ITA No. 7371/Mum/2012 dated 15.07.2015, at para 22 thereof, following the decision of another Coordinate Bench of this Tribunal in the case of Genesys International Corporation Ltd. (55 SOT 10) held and directed the AO to exclude the exemption/deduction allowable under section 10A of the Act from the Book Profits taxable under section 115JB of the Act. At para 22 of the order the Coordinate Bench in assessee’s own case for A.Y. 2009-10 (supra) held as under: - “22. After giving a thoughtful consideration to the facts in issue, we find fo…

ITO 5(1)(4), Mumbai vs. Finestar Jewellery P.Ltd, Mumbai

In the result, the Revenue’s appeal for A

ITA 1260/MUM/2014[2010-11]Status: DisposedITAT Mumbai05 Feb 2016AY 2010-11

Bench: Shri Jason P. Boaz & Shri Sandeep Gosainm/S. Finestar Jewellery & Income Tax Officer-5(1)(4) Diamonds Pvt. Ltd. Àayakar Bhavan, M.K. Road Vs. Unit No. 101, Seepz Mumbai 400020 Andheri (E), Mumbai 400096 Pan - Aaacf7241F Appellant Respondent Income Tax Officer-5(1)(4) M/S. Finestar Jewellery & Àayakar Bhavan, M.K. Road Diamonds Pvt. Ltd. Vs. Mumbai 400020 Unit No. 101, Seepz Andheri (E), Mumbai 400096 Pan - Aaacf7241F Appellant Respondent

For Appellant: Shri Sunil HirawatFor Respondent: Shri Sumit Kumar
Section 10ASection 115JSection 143(3)

…ench of this Tribunal in assessee’s own case for A.Y. 2009-10, vide order in ITA No. 7371/Mum/2012 dated 15.07.2015, at para 22 thereof, following the decision of another Coordinate Bench of this Tribunal in the case of Genesys International Corporation Ltd. (55 SOT 10) held and directed the AO to exclude the exemption/deduction allowable under section 10A of the Act from the Book Profits taxable under section 115JB of the Act. At para 22 of the order the Coordinate Bench in assessee’s own case for A.Y. 2009-10 (supra) held as under: - “22. After giving a thoughtful consideration to the facts in issue, we find fo…

Genesys International Corpn. Ltd. v. Asst. CIT (55 SOT 10) — Cited in 4 Judgments | BharatTax