Hindustan Gum & Chemicals Ltd. v. ITO

23 SOT 143Income Tax Appellate Tribunal2008#9553 most cited

What is Hindustan Gum & Chemicals Ltd. v. ITO authority for?

Expenses related to an earlier year's transaction are deductible in the current year if the liability was determined and crystallized based on mercantile accounting.

11

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2019.

Also referred to as

Hindustan Gum & Chemicals Ltd. v. ITO · 23 SOT 143 · mercantile basis · liability crystallized · earlier year transaction · accounting year

Judgments citing Hindustan Gum & Chemicals Ltd. v. ITO

ACIT, Moradabad vs. M/S. Jubilant Organosyes Ltd., Uttar Pradesh

The appeal is dismissed

ITA 4975/DEL/2012[2008-09]Status: DisposedITAT Delhi12 Mar 2019AY 2008-09

Bench: Smt Beena A. Pillai & Shri Prashant Maharishi

For Appellant: Shri R.M. Gupta, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 115JSection 43(1)

…an earlier year it does not become a liability payable in earlier year, if it can be said that liability was determined and crystallized in year in question on basis of maintaining accounts on mercantile basis.  Hindustan Gum & Chemicals Ltd. vs. ITO [2008] 23 SOT 143 (Kolkata), (Refer Para 7.3)  Saurashtra Cement and Chemical Industries Ltd. CIT[(1995) 213 ITR 523 (Guj)], Para 10  CIT v. Shriram Piston & Rings Ltd.[(2008) 220 CTR 404 (Del.)], Para 7, 9, 17  Toyo Engg India Ltd vs. JCIT [(2006) 100 TTJ 373(Mum.)] (Refer Para 15, 17)  Essar Steel Ltd. v. DCIT: [(2005) 97 ITD 125 (Ahmd.) (TM)], Refer para 45)…

ACIT, Moradabad vs. M/S Jubliant Organosys Ltd., Uttar Pradesh

The appeal is dismissed

ITA 2596/DEL/2011[2007-08]Status: DisposedITAT Delhi12 Mar 2019AY 2007-08

Bench: Smt Beena A. Pillai & Shri Prashant Maharishi

For Appellant: Shri R.M. Gupta, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 115JSection 43(1)

…an earlier year it does not become a liability payable in earlier year, if it can be said that liability was determined and crystallized in year in question on basis of maintaining accounts on mercantile basis.  Hindustan Gum & Chemicals Ltd. vs. ITO [2008] 23 SOT 143 (Kolkata), (Refer Para 7.3)  Saurashtra Cement and Chemical Industries Ltd. CIT[(1995) 213 ITR 523 (Guj)], Para 10  CIT v. Shriram Piston & Rings Ltd.[(2008) 220 CTR 404 (Del.)], Para 7, 9, 17  Toyo Engg India Ltd vs. JCIT [(2006) 100 TTJ 373(Mum.)] (Refer Para 15, 17)  Essar Steel Ltd. v. DCIT: [(2005) 97 ITD 125 (Ahmd.) (TM)], Refer para 45)…

Jubilant Organosys Ltd., Noida vs. Addl. CIT, Moradabad

The appeal is dismissed

ITA 2497/DEL/2011[2007-08]Status: DisposedITAT Delhi12 Mar 2019AY 2007-08

Bench: Smt Beena A. Pillai & Shri Prashant Maharishi

For Appellant: Shri R.M. Gupta, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 115JSection 43(1)

…an earlier year it does not become a liability payable in earlier year, if it can be said that liability was determined and crystallized in year in question on basis of maintaining accounts on mercantile basis.  Hindustan Gum & Chemicals Ltd. vs. ITO [2008] 23 SOT 143 (Kolkata), (Refer Para 7.3)  Saurashtra Cement and Chemical Industries Ltd. CIT[(1995) 213 ITR 523 (Guj)], Para 10  CIT v. Shriram Piston & Rings Ltd.[(2008) 220 CTR 404 (Del.)], Para 7, 9, 17  Toyo Engg India Ltd vs. JCIT [(2006) 100 TTJ 373(Mum.)] (Refer Para 15, 17)  Essar Steel Ltd. v. DCIT: [(2005) 97 ITD 125 (Ahmd.) (TM)], Refer para 45)…

The Indian Steel & Wire Products Ltd., Kolkata vs. DCIT, Cir-3, Kolkata

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 1033/KOL/2016[2006-07]Status: DisposedITAT Kolkata26 Oct 2018AY 2006-07

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1033/Kol/2016 Assessment Year : 2006-07 The Indian Steel & Wire Products Ltd. -Vs- Dcit, Circle-3, Kolkata [Pan: Aabct 1067 C ] (Appellant) (Respondent)

For Appellant: Shri S.M. Surana, AdvocateFor Respondent: Shri Robin Chowdhury, Addl. CIT Sr. DR
Section 143(3)

…n 339 ITR 382 (Del); CIT vs. Modipan Ltd. reported in 334 ITR 102 (Del). We also find that the Co-ordinate Bench of this Tribunal had also held this issue in favour of the assessee in the case of Hindusthan Gum and Chemical Industries Ltd. vs. ITO reported in 23 SOT 143. In view of the aforesaid facts and respectfully following the judicial precedent relied upon hereinabove, we have no hesitation in directing the ld. AO to grant deduction for consumption of stores and spares in the sum of Rs. 1,55,70,590/- in assessment year 2006-07. Accordingly, ground no. 1 raised by the assessee is allowed. 5. The last issue…

Blue Star Civil Engineering Company Pvt. Ltd., Purba Medinipur vs. ACIT, Cir-27, Haldia, Purba Medinipur

In the result, the appeal of the assessee is partly allowed

ITA 1434/KOL/2015[2011-2012]Status: DisposedITAT Kolkata06 Jul 2018AY 2011-2012

Bench: Hon’Ble Shri M.Balaganesh, Am & Hon’Ble Shri S.S.Viswanethra Ravi, Jm] I.T.A No. 1434/Kol/2015 Assessment Year : 2011-12 Blue Star Civil Engineering Company -Vs- Acit, Circle-Haldia [Pan: Aaccb 2247 B] (Appellant) (Respondent)

For Appellant: Shri M. Ghosh, AdvocateFor Respondent: Shri A. Bhattacharjee, Addl. CIT
Section 143(1)Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH : KOLKATA [Before Hon’ble Shri M.Balaganesh, AM & Hon’ble Shri S.S.Viswanethra Ravi, JM] I.T.A No. 1434/Kol/2015 Assessment Year : 2011-12 Blue Star Civil Engineering Company -vs- ACIT, Circle-Haldia [PAN: AACCB 2247 B] (Appellant) (Respondent) For the Appellant : Shri M. Ghosh, Advocate For the Respondent : Shri A. Bhattacharjee, Addl. CIT Date of Hearing : 26.06.2018 Date of Pronouncement : 06.07.2018 ORDER Per M.Balaganesh, AM 1. This appeal by the Assessee arises out of the order of the Learned Commissioner of Income Tax(Appeals)-7, Kolkata [in short th…

DCIT, Cir-6(1), Kolkata vs. M/S. Industrial Investment Bank of India, Kolkata

In the result, the appeals of the revenue are partly allowed for statistical purposes

ITA 894/KOL/2017[2012-13]Status: DisposedITAT Kolkata04 Jul 2018AY 2012-13

Bench: Hon’Ble Shri S.S. Godara, Jm & Hon’Ble Shri M.Balaganesh, Am] I.T.A Nos. 1870, 1871 & 894/Kol/2017 Assessment Years : 2010-11, 2011-12 & 2012-13 Dcit, Circle-6(1), Kolkata -Vs- M/S Industrial Investment Bank Of India [Pan: Aabci 0324 D] (Appellant) (Respondent)

For Appellant: Shri Md. Usman, CIT(DR)For Respondent: Shri Sanjay Bhattacharya, FCA
Section 143(2)Section 143(3)Section 44A

…India (P) Ltd vs DCIT reported in (2008) 118 TTJ 865 (Del Trib) c) Hon’ble Delhi High Court in the case of CIT vs Modipon Ltd reported in 334 ITR 102 (Del) d)Co-ordinate Bench of this Tribunal in the case of Hindustan Gum & Chemicals Ltd vs ITO reported in 23 SOT 143 for Asst Year 2003-04 4.4. In view of the aforesaid findings in the facts and circumstances of the case and respectfully following the aforesaid judicial precedents, we hold that the ld CITA had rightly deleted the disallowance and his order in this regard does not require any interference. Accordingly, the Ground No. 3 raised by the revenue for…

DCIT, Cir-6(1), Kolkata vs. M/S. Industrial Investment Bank of India, Kolkata

In the result, the appeals of the revenue are partly allowed for statistical purposes

ITA 1871/KOL/2017[2011-12]Status: DisposedITAT Kolkata04 Jul 2018AY 2011-12

Bench: Hon’Ble Shri S.S. Godara, Jm & Hon’Ble Shri M.Balaganesh, Am] I.T.A Nos. 1870, 1871 & 894/Kol/2017 Assessment Years : 2010-11, 2011-12 & 2012-13 Dcit, Circle-6(1), Kolkata -Vs- M/S Industrial Investment Bank Of India [Pan: Aabci 0324 D] (Appellant) (Respondent)

For Appellant: Shri Md. Usman, CIT(DR)For Respondent: Shri Sanjay Bhattacharya, FCA
Section 143(2)Section 143(3)Section 44A

…India (P) Ltd vs DCIT reported in (2008) 118 TTJ 865 (Del Trib) c) Hon’ble Delhi High Court in the case of CIT vs Modipon Ltd reported in 334 ITR 102 (Del) d)Co-ordinate Bench of this Tribunal in the case of Hindustan Gum & Chemicals Ltd vs ITO reported in 23 SOT 143 for Asst Year 2003-04 4.4. In view of the aforesaid findings in the facts and circumstances of the case and respectfully following the aforesaid judicial precedents, we hold that the ld CITA had rightly deleted the disallowance and his order in this regard does not require any interference. Accordingly, the Ground No. 3 raised by the revenue for…

DCIT, Cir-6(1), Kolkata vs. M/S. Industrial Investment Bank of India, Kolkata

In the result, the appeals of the revenue are partly allowed for statistical purposes

ITA 1870/KOL/2017[2010-11]Status: DisposedITAT Kolkata04 Jul 2018AY 2010-11

Bench: Hon’Ble Shri S.S. Godara, Jm & Hon’Ble Shri M.Balaganesh, Am] I.T.A Nos. 1870, 1871 & 894/Kol/2017 Assessment Years : 2010-11, 2011-12 & 2012-13 Dcit, Circle-6(1), Kolkata -Vs- M/S Industrial Investment Bank Of India [Pan: Aabci 0324 D] (Appellant) (Respondent)

For Appellant: Shri Md. Usman, CIT(DR)For Respondent: Shri Sanjay Bhattacharya, FCA
Section 143(2)Section 143(3)Section 44A

…India (P) Ltd vs DCIT reported in (2008) 118 TTJ 865 (Del Trib) c) Hon’ble Delhi High Court in the case of CIT vs Modipon Ltd reported in 334 ITR 102 (Del) d)Co-ordinate Bench of this Tribunal in the case of Hindustan Gum & Chemicals Ltd vs ITO reported in 23 SOT 143 for Asst Year 2003-04 4.4. In view of the aforesaid findings in the facts and circumstances of the case and respectfully following the aforesaid judicial precedents, we hold that the ld CITA had rightly deleted the disallowance and his order in this regard does not require any interference. Accordingly, the Ground No. 3 raised by the revenue for…

DCIT, CC-XI, Kolkata vs. M/S Himalaya Granites Pvt. Ltd., Kolkata

In the result, the appeal of the Revenue ( In ITA

ITA 1283/KOL/2014[2006-2007]Status: DisposedITAT Kolkata26 Apr 2017AY 2006-2007

Bench: Shri N.V.Vasudevan, Jm & Dr. A.L.Saini, Am

For Appellant: A.K. Tulsyan, ARFor Respondent: Shri Rajat Kumar Kureel, JCIT(DR)
Section 147Section 2(11)Section 32Section 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI N.V.VASUDEVAN, JM & DR. A.L.SAINI, AM ITA No.1280, 1281 & 1283/Kol/2014 ("नधा"रण वष" / Assessment Years :2002-03, 2003-04 & 2006-07) DCIT, CC-XI, Room Vs. M/s Himalaya Granites Pvt. No.311,3rd Fl. Aayakar Ltd. 16A, Shakespeare Sarani, Bhawan Poorva, 110- Kolkata-700071 Shantipally, Kolkata- 700107 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACH 5121 L .. (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से /Revenue by : Shri Rajat Kumar Kureel, JCIT(DR) "नधा"रती क" ओर से /Assessee by : A.K. Tulsyan, AR सुनवाई क" तार"ख / Date of Hearing : 06/04…

DCIT, CC-XI, Kolkata vs. M/S Himalaya Granites Pvt. Ltd., Kolkata

In the result, the appeal of the Revenue ( In ITA

ITA 1281/KOL/2014[2003-2004]Status: DisposedITAT Kolkata26 Apr 2017AY 2003-2004

Bench: Shri N.V.Vasudevan, Jm & Dr. A.L.Saini, Am

For Appellant: A.K. Tulsyan, ARFor Respondent: Shri Rajat Kumar Kureel, JCIT(DR)
Section 147Section 2(11)Section 32Section 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI N.V.VASUDEVAN, JM & DR. A.L.SAINI, AM ITA No.1280, 1281 & 1283/Kol/2014 ("नधा"रण वष" / Assessment Years :2002-03, 2003-04 & 2006-07) DCIT, CC-XI, Room Vs. M/s Himalaya Granites Pvt. No.311,3rd Fl. Aayakar Ltd. 16A, Shakespeare Sarani, Bhawan Poorva, 110- Kolkata-700071 Shantipally, Kolkata- 700107 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACH 5121 L .. (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से /Revenue by : Shri Rajat Kumar Kureel, JCIT(DR) "नधा"रती क" ओर से /Assessee by : A.K. Tulsyan, AR सुनवाई क" तार"ख / Date of Hearing : 06/04…

DCIT, CC-XI, Kolkata vs. M/S Himalaya Granites Pvt. Ltd., Kolkata

In the result, the appeal of the Revenue ( In ITA

ITA 1280/KOL/2014[2002-2003]Status: DisposedITAT Kolkata26 Apr 2017AY 2002-2003

Bench: Shri N.V.Vasudevan, Jm & Dr. A.L.Saini, Am

For Appellant: A.K. Tulsyan, ARFor Respondent: Shri Rajat Kumar Kureel, JCIT(DR)
Section 147Section 2(11)Section 32Section 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI N.V.VASUDEVAN, JM & DR. A.L.SAINI, AM ITA No.1280, 1281 & 1283/Kol/2014 ("नधा"रण वष" / Assessment Years :2002-03, 2003-04 & 2006-07) DCIT, CC-XI, Room Vs. M/s Himalaya Granites Pvt. No.311,3rd Fl. Aayakar Ltd. 16A, Shakespeare Sarani, Bhawan Poorva, 110- Kolkata-700071 Shantipally, Kolkata- 700107 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACH 5121 L .. (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से /Revenue by : Shri Rajat Kumar Kureel, JCIT(DR) "नधा"रती क" ओर से /Assessee by : A.K. Tulsyan, AR सुनवाई क" तार"ख / Date of Hearing : 06/04…

Hindustan Gum & Chemicals Ltd. v. ITO (23 SOT 143) — Cited in 11 Judgments | BharatTax