(i). CIT v. IIpea Paramount P. Ltd.

336 ITR 54High Court2010#9203 most cited
12

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2026.

Sections most often in play

Section 115JBSection 115JSection 143(3)Section 144BSection 147Section 250Section 263Section 36(1)(vii)

Issues it is cited on

book profitssection 115jsection 115jbcompanysection 143(3)indiainterest

Judgments citing (i). CIT v. IIpea Paramount P. Ltd.

AMBALAL SARABHAI ENTERPRISES LTD.,,BARODA vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX-1,, BARODA

In the result, appeal filed by the assessee is allowed

ITA 903/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad18 Feb 2026AY 2011-12

Bench: The Itat. Considering The Same, The Order Passed By Itat Was Recalled & The Appeal Of The Assessee Fixed For Adjudication Afresh On Merits, Vide Order In Ma No.94/Ahd/2025, Dated 18.12.2025. The Present Appeal, Accordingly, Has Come Up For Hearing Before Us.

For Appellant: Shri Bandish Soparkar, ARFor Respondent: Shri Alpesh Parmar, CIT.DR
Section 115JSection 143(3)Section 263

…Co.Ltd. Vs. CIT, (1971), 82 ITR 363 (SC) ED Sassoon & Co. Ltd. Vs. CIT, (1954) 26 ITR 27 (SC) Calcutta Co. Ltd. Vs. CIT (1959) 37 ITR 1 (SC) Eastern Power Distribution Co. of AP Ltd. Vs. ACIT (2011) 139 TTJ 94 (Visakha) CIT VS ILPEA Paramount P. Ltd. (2011), 336 ITR 54 (Delhi) Dresser Valve India (P) Ltd. Vs. ACIT, (2009) 30 SOT 495 (Mum)  No petition is filed by the Company in this regard, neither any such petition is pending before the Hon'ble Supreme Court as alleged.  The contents of the Note 5 of Schedule 12 of the Balance Sheet, which the impugned issue seems to be emerged is with regard to the Hon'ble S…

DY.COMMISSIONER OF INCOME TAX, THRISSUR vs. THE CSB BANK LTD, THRISSUR

In the result, the appeal of revenue is dismissed

ITA 542/COCH/2025[2014-15]Status: DisposedITAT Cochin30 Oct 2025AY 2014-15

Bench: SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Satish Modi, CAFor Respondent: Shri. Sanjit Kumar Das, CIT DR
Section 115Section 115JSection 144BSection 147Section 250

…that in view of such statutory change, the decision of Supreme Court in case of HCL Comnet Systems & Services Ltd. (supra), would allow the Revenue to make such addition. Delhi High Court in case of CIT v. ILPEA Paramount (P.) Ltd. [2010] 192 Taxman 65/[2011] 336 ITR 54 had come to similar conclusion. Seen from this light and in this context, the decision in case of Deepak Nitrite Ltd. (supra), lays down the correct proposition. 16. We may however, appreciate the 'implication of the ratio laid down by the Supreme Court in case of Vijaya Bank (supra), on the true interpretation of clause(i) to the explanation 1 an…

ASHOK LEYLAND LIMITED,CHENNAI vs. CIT, LTU-A,, CHENNAI

In the result, appeal filed by the assessee is dismissed

ITA 2144/CHNY/2008[1998-99]Status: DisposedITAT Chennai08 Mar 2023AY 1998-99

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.2144/Chny/2008 िनधा"रण वष" /Assessment Year: 1998-99 M/S.Ashok Leyland Ltd., V. The Asst. Commissioner – No.1, Sardar Patel Road, Of Income Tax Guindy, Company Circle-I (1), Chennai-600 032. Chennai. [Pan: Aaaca 4651 L] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: Mr.D.Hema Bhupal, JCIT
Section 115JSection 143(3)Section 263

…Parry (India) Limited vs. The Asst. Commissioner of Income Tax] :: 10 :: wherein, the Division Bench of this Court took into consideration the decision of the Delhi High Court in the case of Commissioner of Income Tax vs. Ilpea Paramount P. Ltd. reported in 336 ITR 54 and pointed out that by virtue of the Finance (No.2) Act, 2009, Clause (g) has been inserted in the Explanation under Section 115JA(2) of the Act with retrospective effect from 01.04.1998 and the provisions for doubtful debts and provision for doubtful advances, which are nothing but provision for diminution in the value of the asset, are specific…

BHARTI INFRATEL LTD.,NEW DELHI vs. DCIT, CIRCLE- 2(1), NEW DELHI

In the result appeal of assessee is allowed

ITA 425/DEL/2018[2011-12]Status: DisposedITAT Delhi15 Nov 2021AY 2011-12

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing)

For Appellant: Shri Rohit Jain, Advocate; &For Respondent: Shri Satpal Gulati [CIT] – DR
Section 115JSection 143(3)Section 2Section 37Section 37(1)

…as made on the basis of actuarial valuation and hence, deduction in respect of provision was allowable while computing the book profit for the purposes of section 115JB of the Act. Honourable Delhi i High Court in the case of CIT vs. ILPEA Paramount (P) Ltd.: 336 ITR 54, while following the decision in the case of CIT v. Hewlett Packard India: 314 ITR 55 (Del), held that the provision for Gratuity made on actuarial basis was to be deducted to arrive at book-profits. Honourable Bombay High Court also in case of Protos Engg. Co. (P) Ltd. vs. DCIT: 282 ITR 550 has held that liability is considered as ascertained if…

DCIT, CIRCLE - 3(1) , KOLKATA vs. M/S. SPPL PROPERTY MANAGEMENT PVT. LTD., , KOLKATA

In the result, the appeal of the Revenue is dismissed

ITA 2074/KOL/2019[2009-10]Status: DisposedITAT Kolkata30 Jul 2021AY 2009-10

Bench: Shri A. T. Varkey, Hon’Ble & Dr. M. L. Meena, Hon’Ble]

Section 115JSection 143(3)

…that in view of such statutory change, the decision of Supreme Court in case of HCL Comnet Systems & Services Ltd. (supra), would allow the Revenue to make such addition. Delhi High Court in case of ClT v. lLPEA Paramount (P.) Ltd. [2010] 192 Taxman 65/[2011] 336 ITR 54 had come to similar conclusion. Seen from this light and in this context, the decision in case of Deepak Nitrite Ltd. (supra), lays down the correct proposition. 16. We may however, appreciate the 'implication of the ratio laid down by the Supreme Court in case of Vijaya Bank (supra), on the true interpretation of clause(i) to the explanation 1 an…

DCIT, CIRCLE - 3, KOLKATA vs. M/S. THE PEERLESS GENERAL FINANCE & INVESTMENT CO. LTD., KOLKATA

In the result, the appeal of revenue is dismissed

ITA 50/KOL/2009[2002-03]Status: DisposedITAT Kolkata03 Dec 2020AY 2002-03

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 115JSection 260A

…that in view of such statutory change, the decision of Supreme Court in case of HCL Comnet Systems & Services Ltd. (supra), would allow the Revenue to make such addition. Delhi High Court in case of ClT v. lLPEA Paramount (P.) Ltd. [2010] 192 Taxman 65/[2011] 336 ITR 54 had come to similar conclusion. Seen from this light and in this context, the decision in case of Deepak Nitrite Ltd. (supra), lays down the correct proposition. 6 The Peerless General Finance & Investment Co. Ltd., AY 2002-03 16. We may however, appreciate the 'implication of the ratio laid down by the Supreme Court in case of Vijaya Bank (supr…

DCIT, NEW DELHI vs. M/S IRCON INTERNATIONAL LTD., NEW DELHI

In the result, all the three appeals of the assessee for A

ITA 3805/DEL/2008[2003-04]Status: DisposedITAT Delhi31 Oct 2019AY 2003-04

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…s of clause )i) to Explanation 1 to Section 115JB. This issue is in fact no longer res integra in view of the said insertion of clause (i) w.e.f. 01.04.2001. In this regard, reliance is placed on the following decisions : 1. CIT v llpea paramount P. Ltd[2010] 336 ITR 54(Delhi)(para 4 &5) 2. Eastern India Powertech Ltd v Addl CIT, Rg 10, New Delhi[2013] 32 taxmann.com 11 (Delhi-Trib.) In this order Hon’ble ITAT has discussed the issue in detail and has held that after insertion of clause(i) to Expln 1 to Section 115JB, addition of doubtful debts has to be made to total income to derive the book profit. Hon’ble I T…

IRCON INTERNATIONAL LTD.,,NEW DELHI vs. DCIT, CIRCLE-11(1),, DELHI

In the result, all the three appeals of the assessee for A

ITA 705/DEL/2006[2002-2003]Status: DisposedITAT Delhi31 Oct 2019AY 2002-2003

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…s of clause )i) to Explanation 1 to Section 115JB. This issue is in fact no longer res integra in view of the said insertion of clause (i) w.e.f. 01.04.2001. In this regard, reliance is placed on the following decisions : 1. CIT v llpea paramount P. Ltd[2010] 336 ITR 54(Delhi)(para 4 &5) 2. Eastern India Powertech Ltd v Addl CIT, Rg 10, New Delhi[2013] 32 taxmann.com 11 (Delhi-Trib.) In this order Hon’ble ITAT has discussed the issue in detail and has held that after insertion of clause(i) to Expln 1 to Section 115JB, addition of doubtful debts has to be made to total income to derive the book profit. Hon’ble I T…

DCIT, CIRCLE-11(1) vs. IRCON INTERNATIONAL LTD.,,

In the result, all the three appeals of the assessee for A

ITA 2234/DEL/2005[2001-2002]Status: DisposedITAT Delhi31 Oct 2019AY 2001-2002

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…s of clause )i) to Explanation 1 to Section 115JB. This issue is in fact no longer res integra in view of the said insertion of clause (i) w.e.f. 01.04.2001. In this regard, reliance is placed on the following decisions : 1. CIT v llpea paramount P. Ltd[2010] 336 ITR 54(Delhi)(para 4 &5) 2. Eastern India Powertech Ltd v Addl CIT, Rg 10, New Delhi[2013] 32 taxmann.com 11 (Delhi-Trib.) In this order Hon’ble ITAT has discussed the issue in detail and has held that after insertion of clause(i) to Expln 1 to Section 115JB, addition of doubtful debts has to be made to total income to derive the book profit. Hon’ble I T…

IRCON INTERNATIONAL LIMITED,NEW DELHI vs. ACIT, NEW DELHI

In the result, all the three appeals of the assessee for A

ITA 3804/DEL/2008[2003-04]Status: DisposedITAT Delhi31 Oct 2019AY 2003-04

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…s of clause )i) to Explanation 1 to Section 115JB. This issue is in fact no longer res integra in view of the said insertion of clause (i) w.e.f. 01.04.2001. In this regard, reliance is placed on the following decisions : 1. CIT v llpea paramount P. Ltd[2010] 336 ITR 54(Delhi)(para 4 &5) 2. Eastern India Powertech Ltd v Addl CIT, Rg 10, New Delhi[2013] 32 taxmann.com 11 (Delhi-Trib.) In this order Hon’ble ITAT has discussed the issue in detail and has held that after insertion of clause(i) to Expln 1 to Section 115JB, addition of doubtful debts has to be made to total income to derive the book profit. Hon’ble I T…

IRCON INTERNATIONAL LTD. vs. ADDL. CIT, RANGE-11,,

In the result, all the three appeals of the assessee for A

ITA 1825/DEL/2005[2001-2002]Status: DisposedITAT Delhi31 Oct 2019AY 2001-2002

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…s of clause )i) to Explanation 1 to Section 115JB. This issue is in fact no longer res integra in view of the said insertion of clause (i) w.e.f. 01.04.2001. In this regard, reliance is placed on the following decisions : 1. CIT v llpea paramount P. Ltd[2010] 336 ITR 54(Delhi)(para 4 &5) 2. Eastern India Powertech Ltd v Addl CIT, Rg 10, New Delhi[2013] 32 taxmann.com 11 (Delhi-Trib.) In this order Hon’ble ITAT has discussed the issue in detail and has held that after insertion of clause(i) to Expln 1 to Section 115JB, addition of doubtful debts has to be made to total income to derive the book profit. Hon’ble I T…

DCIT, CIRCLE-4(2), KOLKATA, KOLKATA vs. M/S MERCURY CAR RENTALS LIMITED, KOLKATA

In the result, appeal of the revenue is partly allowed

ITA 2051/KOL/2016[2006-07]Status: DisposedITAT Kolkata10 Oct 2018AY 2006-07

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M. Balaganesh, Am]

Section 194Section 194CSection 194HSection 194JSection 199

…1 Mercury Car Rentals Ltd., AY 2006-07 आयकर अपील"य अधीकरण, "यायपीठ – “A” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA (सम")Before "ी ऐ. ट". वक", "यायीक सद"य एवं/and "ी एम .बालागणेश, लेखा सद"य) [Before Shri A. T. Varkey, JM & Shri M. Balaganesh, AM] I.T.A. No. 2051/Kol/2016 Assessment Year: 2006-07 Deputy Commissioner of Income-tax, Vs. M/s. Mercury Car Rentals Ltd. Circle-4(2), Kolkata. (PAN: AACCM0488P) Appellant Respondent Date of Hearing 25.09.2018 Date of Pronouncement 10.10.2018 For the Appellant Shri Sandeep Lakra, Addl. CIT, Sr. DR For the Respondent Shri A. K. Gupta, FCA ORDER Per…