Genus Overseas Limited, Jaipur, Ratna Sugar Mills Co Ltd. v. CIT

33 ITR 644High Court1958#12635 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2012 to 2025.

Sections most often in play

Section 1961Section 2(24) of the Income Tax ActSection 28 of the Income Tax ActSection 41(1) of the Income Tax Act

Judgments citing Genus Overseas Limited, Jaipur, Ratna Sugar Mills Co Ltd. v. CIT

M/S Chatta Sugar Co. Ltd, Mathura vs. A.C.I..T Circle-3, Mathura

In the result, the appeal of the assessee is allowed

ITA 129/AGR/2015[2009-10]Status: DisposedITAT Agra01 Jul 2025AY 2009-10

Bench: Shri Sunil Kumar Singh & Shri Brajesh Kumar Singh[Assessment Year: 2009-10]

Section 142(1)Section 143(3)Section 28Section 41(1)

…ceding assessment year i.e. A.Y 2008-2009 but despite giving ample opportunity no audit report was furnished. 4.1. The ld. CIT(A) also relied upon the decisions of jurisdictional Allahabad High Court in the case of Ratna Sugar Mills Co. Ltd. vs CIT [1958] 33 ITR 644 (All.) and of the Hon’ble Supreme Court in the case of Pontypridd and Rhondda Joint Water Board vs Otine (1946) 14 ITR (Supp,.) 45 and observed that when subsidy is received from a public fund to assist the assessee to carry on business, the object of subsidy is apparent i.e. to enable the assessee to run business more profitably, become more c…

ACIT, Central Circle, Moradabad vs. Genus Electrotech Ltd., Ahamedabad

ITA 9516/DEL/2019[2010-11]Status: DisposedITAT Delhi04 Aug 2022AY 2010-11
For Appellant: Shri Mayank Patawari, CAFor Respondent: Md. Gayasuddin Ansari, Senior DR
Section 115JSection 143Section 143(3)Section 154Section 250

…ing Special Bench decision of this Tribunal in the case of DCIT Vs Reliance Industries Ltd [(2004) 88 ITD 273 (SBI)], decision dated 29th August 2008 in the case of sister concern by the name of Genus Overseas Limited, Jaipur, Ratna Sugar Mills Co Ltd Vs CIT (33 ITR 644), CIT Vs Chitra Kalp (2771TR 540) and CIT vs. Ponni Sugar & Chemicals Ltd (306 ITR 392). He then noted that weather a subsidy is capital receipt of revenue receipt is a vexed question and it has no easy 7 ITA No.9513 to 9516/Del./2019 ITA No.2418/Ahd./2017 ITA No.1136/Ahd./2012 ITA No.1830/Ahd./2015 answer. He further expressed the view that whet…

ACIT, Central Circle, Moradabad vs. Genus Electrotech Ltd., Ahamedabad

ITA 9515/DEL/2019[2009-10]Status: DisposedITAT Delhi04 Aug 2022AY 2009-10
For Appellant: Shri Mayank Patawari, CAFor Respondent: Md. Gayasuddin Ansari, Senior DR
Section 115JSection 143Section 143(3)Section 154Section 250

…ing Special Bench decision of this Tribunal in the case of DCIT Vs Reliance Industries Ltd [(2004) 88 ITD 273 (SBI)], decision dated 29th August 2008 in the case of sister concern by the name of Genus Overseas Limited, Jaipur, Ratna Sugar Mills Co Ltd Vs CIT (33 ITR 644), CIT Vs Chitra Kalp (2771TR 540) and CIT vs. Ponni Sugar & Chemicals Ltd (306 ITR 392). He then noted that weather a subsidy is capital receipt of revenue receipt is a vexed question and it has no easy 7 ITA No.9513 to 9516/Del./2019 ITA No.2418/Ahd./2017 ITA No.1136/Ahd./2012 ITA No.1830/Ahd./2015 answer. He further expressed the view that whet…

ACIT, Central Circle, Moradabad vs. Genus Electrotech Ltd., Ahamedabad

ITA 9514/DEL/2019[2008-09]Status: DisposedITAT Delhi04 Aug 2022AY 2008-09
For Appellant: Shri Mayank Patawari, CAFor Respondent: Md. Gayasuddin Ansari, Senior DR
Section 115JSection 143Section 143(3)Section 154Section 250

…ing Special Bench decision of this Tribunal in the case of DCIT Vs Reliance Industries Ltd [(2004) 88 ITD 273 (SBI)], decision dated 29th August 2008 in the case of sister concern by the name of Genus Overseas Limited, Jaipur, Ratna Sugar Mills Co Ltd Vs CIT (33 ITR 644), CIT Vs Chitra Kalp (2771TR 540) and CIT vs. Ponni Sugar & Chemicals Ltd (306 ITR 392). He then noted that weather a subsidy is capital receipt of revenue receipt is a vexed question and it has no easy 7 ITA No.9513 to 9516/Del./2019 ITA No.2418/Ahd./2017 ITA No.1136/Ahd./2012 ITA No.1830/Ahd./2015 answer. He further expressed the view that whet…

ACIT, Central Circle, Moradabad vs. Genus Electrotech Ltd., Ahamedabad

ITA 9513/DEL/2019[2007-08]Status: DisposedITAT Delhi04 Aug 2022AY 2007-08
For Appellant: Shri Mayank Patawari, CAFor Respondent: Md. Gayasuddin Ansari, Senior DR
Section 115JSection 143Section 143(3)Section 154Section 250

…ing Special Bench decision of this Tribunal in the case of DCIT Vs Reliance Industries Ltd [(2004) 88 ITD 273 (SBI)], decision dated 29th August 2008 in the case of sister concern by the name of Genus Overseas Limited, Jaipur, Ratna Sugar Mills Co Ltd Vs CIT (33 ITR 644), CIT Vs Chitra Kalp (2771TR 540) and CIT vs. Ponni Sugar & Chemicals Ltd (306 ITR 392). He then noted that weather a subsidy is capital receipt of revenue receipt is a vexed question and it has no easy 7 ITA No.9513 to 9516/Del./2019 ITA No.2418/Ahd./2017 ITA No.1136/Ahd./2012 ITA No.1830/Ahd./2015 answer. He further expressed the view that whet…

M/S. Genus Electrotech Ltd., Ahmedabad vs. The Dy.CIT, Circle-2(1)(1), Ahmedabad

ITA 2418/AHD/2017[2007-08]Status: DisposedITAT Delhi04 Aug 2022AY 2007-08
For Appellant: Shri Mayank Patawari, CAFor Respondent: Md. Gayasuddin Ansari, Senior DR
Section 115JSection 143Section 143(3)Section 154Section 250

…ing Special Bench decision of this Tribunal in the case of DCIT Vs Reliance Industries Ltd [(2004) 88 ITD 273 (SBI)], decision dated 29th August 2008 in the case of sister concern by the name of Genus Overseas Limited, Jaipur, Ratna Sugar Mills Co Ltd Vs CIT (33 ITR 644), CIT Vs Chitra Kalp (2771TR 540) and CIT vs. Ponni Sugar & Chemicals Ltd (306 ITR 392). He then noted that weather a subsidy is capital receipt of revenue receipt is a vexed question and it has no easy 7 ITA No.9513 to 9516/Del./2019 ITA No.2418/Ahd./2017 ITA No.1136/Ahd./2012 ITA No.1830/Ahd./2015 answer. He further expressed the view that whet…

CIT vs. Icc India P. Ltd

The appeal is partly allowed in the above terms in terms

ITA/396/2012HC Delhi20 Nov 2012

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE R.V.EASWAR

Section 28Section 41(1)

…s conclusive on the subject. In that case too the holding company had made over amounts to the subsidiary i.e. assessee-HHEC. The Court noticed the previous rulings of the Allahabad High Court and Madras High Court in Ratna Sugar Mills Co. v. CIT, (1958) 33 ITR 644 and Meenakshi Achi (V.S.SV.) v. CIT, (1963) 50 ITR 206 respectively and held that the amounts given by the HTC to HHEC in order to recoup its losses is akin to a father giving monies to his child to ensure business survival by child. The decision of the Madras High Court in Meenakshi Achi (supra) was confirmed by the Supreme Court subsequent…

CIT vs. Deutsche Post Bank Home Finance Ltd

The appeal is dismissed

ITA - 312 / 2012HC Delhi02 Jul 2012
Section 2Section 28

…el submitted that the facts of that case showed that funds were public in nature and the cash assistance given by the holding company to STC, was not subject to taxation. Learned counsel relied upon two decisions Ratna Sugar Mills Co. Ltd. v. CIT, (1958) 33 ITR 644 and (V.S.S.V.) Meenakshi Achi v. CIT, (1963) 50 ITR 206 of Allahabad and Madras High Courts respectively which were eventually considered by the Supreme Court. It was held that where public funds are used as an incentive or in order to assist, or give subsidy to recoup a unit‟s losses or to provide against or financial liability, the Courts h…

Genus Overseas Limited, Jaipur, Ratna Sugar Mills Co Ltd. v. CIT (33 ITR 644) — Cited in 8 Judgments | BharatTax