Harissons Malayalam Ltd. v. ACIT

32 SOT 497Income Tax Appellate Tribunal2009#8575 most cited
13

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2023.

Judgments citing Harissons Malayalam Ltd. v. ACIT

DCIT(LTU) - 1, MUMBAI vs. ACC LTD., MUMBAI

In the result, appeal filed by assessee is partly allowed and appeal filed by the revenue is dismissed

ITA 3178/MUM/2019[2011-12]Status: DisposedITAT Mumbai28 Feb 2023AY 2011-12

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

Section 14Section 143(3)Section 14A

…revenue carried the matter by way of an appeal before Hon’ble Calcutta High Court in ITA No. 203 of 2016, which was dismissed by judgment and order dated 29th June, 2018. Similar view is given by Cochin ITAT Bench in the case of Harrisons Malayalam Ltd[2009] 32 SOT 497. 91. Considering the facts discussed herein above, it is found that Assessing Officer has wrongly invoked provisions of Section 50B of the Act for computing Income from Capital gain on sale of a divisions without transfer of other related business assets and liabilities of undertaking in the year under consideration. The assessee has correctly tre…

ACC LTD.,MUMBAI vs. ADDL CIT(LTU) , MUMBAI

In the result, appeal filed by assessee is partly allowed and appeal filed by the revenue is dismissed

ITA 3139/MUM/2019[2011-12]Status: DisposedITAT Mumbai28 Feb 2023AY 2011-12

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

Section 14Section 143(3)Section 14A

…revenue carried the matter by way of an appeal before Hon’ble Calcutta High Court in ITA No. 203 of 2016, which was dismissed by judgment and order dated 29th June, 2018. Similar view is given by Cochin ITAT Bench in the case of Harrisons Malayalam Ltd[2009] 32 SOT 497. 91. Considering the facts discussed herein above, it is found that Assessing Officer has wrongly invoked provisions of Section 50B of the Act for computing Income from Capital gain on sale of a divisions without transfer of other related business assets and liabilities of undertaking in the year under consideration. The assessee has correctly tre…

ACC LIMITED (FORMERLY KNOWN AS THE ASSOCIATED CEMENT COMPANIES LTD.),MUMBAI vs. ACIT - LTU, MUMBAI

ITA 417/MUM/2014[2006-07]Status: DisposedITAT Mumbai28 Feb 2023AY 2006-07

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blem/S. Acc Limited V. Addl. Cit -Range 1(1) (Formerly Known As The Associated Cement Mumbai Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) M/S. Acc Limited V. Asst. Cit-Ltu (Formerly Known As The Associated Mumbai Cement Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) Acit – Ltu V. M/S. Acc Limited 28Th Floor, Centre-1 (Formerly Known As The Associated Cement Companies Ltd.) World Trade Centre, Cuffe Parade Cement House, 121, M.K. Road Mumbai - 400005 Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent)

Section 143(3)Section 145ASection 251Section 44A

…venue carried the matter by way of an appeal before Hon’ble Calcutta High Court in ITA No. 203 of 2016, which was dismissed by judgment and order dated 29th June, 2018. Similar view is given by Hon’ble Cochin ITAT in the case of Harrisons Malayalam Ltd [2009] 32 SOT 497. 89 ITA NO.5655 & 5692/MUM/2011(A.Y: 2006-07) M/s. ACC Limited 131. So far as reliance placed by Ld. DR on the decision of Hon’ble Kerala High court in the case of CIT v. Accelerated Freeze Drying Co. Ltd [198 Taxman 18], wherein assessee-company, engaged in seafood processing and export of products of its own factories, transferred one of its ind…

ADDL CIT RG 1(1), MUMBAI vs. ACC LTD, MUMBAI

ITA 5692/MUM/2011[2006-07]Status: DisposedITAT Mumbai28 Feb 2023AY 2006-07

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blem/S. Acc Limited V. Addl. Cit -Range 1(1) (Formerly Known As The Associated Cement Mumbai Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) M/S. Acc Limited V. Asst. Cit-Ltu (Formerly Known As The Associated Mumbai Cement Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) Acit – Ltu V. M/S. Acc Limited 28Th Floor, Centre-1 (Formerly Known As The Associated Cement Companies Ltd.) World Trade Centre, Cuffe Parade Cement House, 121, M.K. Road Mumbai - 400005 Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent)

Section 143(3)Section 145ASection 251Section 44A

…venue carried the matter by way of an appeal before Hon’ble Calcutta High Court in ITA No. 203 of 2016, which was dismissed by judgment and order dated 29th June, 2018. Similar view is given by Hon’ble Cochin ITAT in the case of Harrisons Malayalam Ltd [2009] 32 SOT 497. 89 ITA NO.5655 & 5692/MUM/2011(A.Y: 2006-07) M/s. ACC Limited 131. So far as reliance placed by Ld. DR on the decision of Hon’ble Kerala High court in the case of CIT v. Accelerated Freeze Drying Co. Ltd [198 Taxman 18], wherein assessee-company, engaged in seafood processing and export of products of its own factories, transferred one of its ind…

ACC LTD ( FORMERLY KNOWN AS THE ASSOCIATED CEMENT COMPANIES LTD),MUMBAI vs. ADDL CIT RG 1(1), MUMBAI

ITA 5655/MUM/2011[2006-07]Status: DisposedITAT Mumbai28 Feb 2023AY 2006-07

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Blem/S. Acc Limited V. Addl. Cit -Range 1(1) (Formerly Known As The Associated Cement Mumbai Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) M/S. Acc Limited V. Asst. Cit-Ltu (Formerly Known As The Associated Mumbai Cement Companies Ltd.) Cement House, 121, M.K. Road Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent) Acit – Ltu V. M/S. Acc Limited 28Th Floor, Centre-1 (Formerly Known As The Associated Cement Companies Ltd.) World Trade Centre, Cuffe Parade Cement House, 121, M.K. Road Mumbai - 400005 Churchgate, Mumbai-400020 Pan: Aaact1507C (Appellant) (Respondent)

Section 143(3)Section 145ASection 251Section 44A

…venue carried the matter by way of an appeal before Hon’ble Calcutta High Court in ITA No. 203 of 2016, which was dismissed by judgment and order dated 29th June, 2018. Similar view is given by Hon’ble Cochin ITAT in the case of Harrisons Malayalam Ltd [2009] 32 SOT 497. 89 ITA NO.5655 & 5692/MUM/2011(A.Y: 2006-07) M/s. ACC Limited 131. So far as reliance placed by Ld. DR on the decision of Hon’ble Kerala High court in the case of CIT v. Accelerated Freeze Drying Co. Ltd [198 Taxman 18], wherein assessee-company, engaged in seafood processing and export of products of its own factories, transferred one of its ind…

SRF LIMITED,NEW DELHI vs. ACIT, CIRCLE- 1, LTU, NEW DELHI

Appeals are allowed

ITA 6693/DEL/2018[2006-07]Status: DisposedITAT Delhi07 Feb 2022AY 2006-07

Bench: The Hearing Of The Appeal.

Section 28Section 37

…el/2011 & Others (22.01.2020)] • Reliance Industries Limited [ITA Nos. 1547/Mum/2016 & 2733/5842/Mum/2017] • Alok Industries Ltd. [TS-313-ITAT-2018(Mum)] • Nilgiri Tea Estate Ltd. [[2014] 47 taxmann.com 329 (Cochin - Trib.)] • Harrisons Malayalam Ltd. [[2009] 32 SOT 497 (Cochin)] • Ankit Metal & Power Ltd. [TS-410-HC-2019(CAL)] • Harinagar Sugar Mills Ltd. [2019-TIOL-1242-HC-MUM-IT] 6.4 It is a settled law that a capital receipt is not liable to tax under the Act unless it is specifically included in the definition of income u/s 2(24) of the Act and chargeable under any of the charging provisions of the Act. Onc…

TATA CHEMICALS LTD,MUMBAI vs. DCIT 2(3), MUMBAI

ITA 2965/MUM/2015[2002-03]Status: DisposedITAT Mumbai22 Apr 2019AY 2002-03

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2002-03 Tata Chemicals Ltd. Deputy Commissioner Of Bombay House, Vs. Income Tax-2(3)(1), 5Th 24 Homi Mody Street, Floor, Aayakar Bhavan, Fort, Mumbai-400001 M.K. Road, Mumbai- 400020 Pan No. Aaact4059M Appellant Respondent Assessment Year: 2002-03 Deputy Commissioner Tata Chemicals Ltd. Of Income Tax-2(3)(1), Vs. Bombay House, 5Th Floor, Aayakar 24 Homi Mody Street, Bhavan, M.K. Road, Fort, Mumbai-400001 Mumbai-400020 Pan No. Aaact4059M Appellant Respondent Assessee By : Mr. Nitesh Joshi, Ar Revenue By : Mr. Choudhary Arun Kumar Singh, Date Of Hearing : 25/01/2019 Date Of Pronouncement: 22/04/2019

For Appellant: Mr. Nitesh Joshi, ARFor Respondent: Mr. Choudhary Arun Kumar Singh
Section 115JSection 143(3)Section 14A

…ore, it is argued by him that the transfer of such right would be liable to capital gains/loss. Further, reliance is placed by him on the decision in Mahindra Sintered Products Ltd. 95 ITD 380 (Mum), Asea Brown Boveri 14 SOT 18 (Mum), Harrisons Malayalam Ltd. 32 SOT 497 (Coch) and Kampli Co-op. Sugar Factory Ltd. 70 TTJ 874. 9.4 On the other hand, the Ld. DR submits that in the instant case pursuant to the sale agreement dated 19.11.2001 between the assessee and Jyothi Laboratories Ltd., the assessee has sold its detergent manufacturing facility at Pitampura Industrial Estate in Madhya Pradesh for a lump sum cons…

INCOME TAX OFFICER, ALWAR vs. M/S KRISH HOME PVT. LTD., NEW DELHI

In the result, we set aside the order of the ld

ITA 390/JPR/2018[2014-15]Status: DisposedITAT Jaipur13 Dec 2018AY 2014-15
For Appellant: Shri Rajeev Sogani (CA)For Respondent: Shri A.K. Rawat (JCIT) fu/kZkfjrh dh vksj ls@
Section 10(1)Section 115JSection 2(14)(iii)

…section 2(1A) 4 ITO vs. M/s Krish Home Pvt. Ltd. of the Act. In support of his contention, he has relied upon the following decisions:- • Manubhai A. Sheth vs. N.D. Nirgudkar 128 ITR 87 (Bom) • J. Raghottaama Reddy 169 ITR 174 (AP) • Harrisons Malayalam Ltd. 32 SOT 497 (Cochin) • Agri Gold Foods & Farm Products Ltd. ITA No. 451/Vizag/2012 • The Nilgiri Tea Estate Ltd. ITA No. 37/Coch/2014 Thus the ld. A/R has submitted that as per the various decisions of this Tribunal, the income on transfer of agricultural land would be agricultural income and, therefore, the said income is not to be included in the total inc…

DCIT CIR 3(3), MUMBAI vs. SICOM LTD, MUMBAI

In the result, appeal of Revenue is dismissed whereas appeal of the assessee is allowed in part in terms indicated hereinabove

ITA 1685/MUM/2009[2003-2004]Status: DisposedITAT Mumbai06 Dec 2016AY 2003-2004

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm M/S. Sicom Ltd., Vs. Dcit – 3(3) – Mumbai-20 Nirmal, 1St Floor, Nariman Point, Mumbai – 400 021 Pan/Gir No. Aaacs5524J Appellant) .. Respondent) & Dcit – 3(3) – Mumbai- Vs. M/S. Sicom Ltd., Nirmal, 1St Floor, Nariman Point, 20 Mumbai – 400 021 Pan/Gir No. Aaacs5524J Appellant) .. Respondent)

Section 115JSection 143(3)Section 234BSection 41

…Shree Cement Ltd., (ITA No.614/JP/2010) dated 9th September 2011(Jp).  Nilgiri Tea Estate Ltd., (ITA No.37/Coch/2014) dated 6th June 2014 (Cochin)  Nilgiri Tea Estate Ltd., (ITA No.377/Coch/2014) dated 29th February 2012 (Cochin)  Harrisons Malayalam Ltd., 32 SOT 497 (Coch)  M/s. Delhi Gymkhana Clum Limited (ITA No.3585/Del/2006) dated 30th September 2009 approved by Delhi High Court 339 ITR 525  M/s. Shivalik Venture Pvt. Ltd., (ITA No.2008/Mum/2012) dated 19 August 2015  L.H.Sugar Factory Ltd., (46 CCH 354 (2016)(Lucknow Trib)  Binani Industries Ltd., (2016)46 CCH212)(Kol Trib)  M/s. Karnataka Soaps & D…

SICOM LTD,MUMBAI vs. DCIT RG 3(3), MUMBAI

In the result, appeal of Revenue is dismissed whereas appeal of the assessee is allowed in part in terms indicated hereinabove

ITA 1522/MUM/2009[2003-2004]Status: DisposedITAT Mumbai06 Dec 2016AY 2003-2004

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm M/S. Sicom Ltd., Vs. Dcit – 3(3) – Mumbai-20 Nirmal, 1St Floor, Nariman Point, Mumbai – 400 021 Pan/Gir No. Aaacs5524J Appellant) .. Respondent) & Dcit – 3(3) – Mumbai- Vs. M/S. Sicom Ltd., Nirmal, 1St Floor, Nariman Point, 20 Mumbai – 400 021 Pan/Gir No. Aaacs5524J Appellant) .. Respondent)

Section 115JSection 143(3)Section 234BSection 41

…Shree Cement Ltd., (ITA No.614/JP/2010) dated 9th September 2011(Jp).  Nilgiri Tea Estate Ltd., (ITA No.37/Coch/2014) dated 6th June 2014 (Cochin)  Nilgiri Tea Estate Ltd., (ITA No.377/Coch/2014) dated 29th February 2012 (Cochin)  Harrisons Malayalam Ltd., 32 SOT 497 (Coch)  M/s. Delhi Gymkhana Clum Limited (ITA No.3585/Del/2006) dated 30th September 2009 approved by Delhi High Court 339 ITR 525  M/s. Shivalik Venture Pvt. Ltd., (ITA No.2008/Mum/2012) dated 19 August 2015  L.H.Sugar Factory Ltd., (46 CCH 354 (2016)(Lucknow Trib)  Binani Industries Ltd., (2016)46 CCH212)(Kol Trib)  M/s. Karnataka Soaps & D…

M/S HINDUSTAN ENGINEERING & INDUSTRIES LTD.,KOLKATA vs. A.D.I.T RANGE - 5,KOLKATA., KOLKATA

In the result, appeal of assessee is allowed

ITA 330/KOL/2013[2009-10]Status: DisposedITAT Kolkata15 Mar 2016AY 2009-10

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

For Appellant: Shri Siddharth Jhajharia, FCAFor Respondent: Shri G. Mallikarjuna, CIT, DR
Section 143(3)Section 2Section 50BSection 5O

…apital gains tax liability in this case is erroneous as Rs. 210 crores is not apportioned over all the transferred assets.” 16. Similarly, the coordinate Bench of this Tribunal exactly on identical facts in the case of Harrisons Malayalam Ltd. Vs. ACIT (2009) 32 SOT 497 (Cochin) discussing the fact that the assessee company was engaged in various business activities like growing and manufacturing tea, rubber plantation, agriculture operation, executing engineering contracts etc. During the relevant year the assessee sold one of its rubber estates with standing trees and all other paraphernalia known as ‘Boycee Es…

DCIT, CHENNAI vs. A.V.THOMAS LEATHER & ALLIED PRODUCTS LTD., CHENNAI

The appeal of the Revenue is dismissed

ITA 2101/CHNY/2015[2012-13]Status: DisposedITAT Chennai05 Feb 2016AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.2067/Mds/2015 "नधा"रण वष" / Assessment Year : 2012-13

For Appellant: Sh. T. Banusekar, CAFor Respondent: Dr. Milind Madhukar Bhusari, CIT
Section 2(14)

…hat prior to the date of sale, it may not be necessary to carry out the agricultural operations. 5. The Ld. representative for the assessee has also placed reliance on the decision of Cochin Bench of this Tribunal in Harissons Malayalam Ltd. v. ACIT (2009) 32 SOT 497 and submitted that the amount of income to which the provisions of Section 10 of the Act applies, if any such amount is credited to the Profit & Loss account, shall be reduced from the book profit for the purpose of Section 115JB of the Act. Referring to Section 10(1) of the Act, the Ld. representative submitted that in computing the total 6 I.T…

A.V.THOMAS LEATHER & ALLIED PRODUCTS PRIVATE LIMITED,CHENNAI vs. DCIT, CHENNAI

The appeal of the Revenue is dismissed

ITA 2067/CHNY/2015[2012-2013]Status: DisposedITAT Chennai05 Feb 2016AY 2012-2013

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.2067/Mds/2015 "नधा"रण वष" / Assessment Year : 2012-13

For Appellant: Sh. T. Banusekar, CAFor Respondent: Dr. Milind Madhukar Bhusari, CIT
Section 2(14)

…hat prior to the date of sale, it may not be necessary to carry out the agricultural operations. 5. The Ld. representative for the assessee has also placed reliance on the decision of Cochin Bench of this Tribunal in Harissons Malayalam Ltd. v. ACIT (2009) 32 SOT 497 and submitted that the amount of income to which the provisions of Section 10 of the Act applies, if any such amount is credited to the Profit & Loss account, shall be reduced from the book profit for the purpose of Section 115JB of the Act. Referring to Section 10(1) of the Act, the Ld. representative submitted that in computing the total 6 I.T…