(ii) Industrial Development Corporation of Orissa Ltd. v. CIT

268 ITR 130High Court2004#11399 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,315 Indian tax judgments — from 2011 to 2022.

Issues it is cited on

azadi bachao andolan put to use revenue expenditure capital expenditure genuineness of the transaction transfer company total income document interest

Judgments citing (ii) Industrial Development Corporation of Orissa Ltd. v. CIT

M/S. Star Chemical (Bombay) P. Ltd., Mumbai vs. DCIT CIT - 3(3), Mumbai

ITA 5987/MUM/2006[1996-1997]Status: DisposedITAT Mumbai27 May 2022AY 1996-1997

Bench: Shri Kuldip Singh & Shri Gagan Goyal

For Appellant: Shri K. Shivaram, Sr. A.R. &For Respondent: Shri B.K. Bagchi, Sr. A.R

…ion. Now we would examine with the assistance of the Ld. A.Rs for the parties to the appeal the issue in controversy in the light of the decision rendered by Hon’ble Orissa High Court in case of Industrial Development Corporation of Orissa Ltd. vs. CIT (2004) 268 ITR 130 (Orissa) (HC), order passed by the Hon’ble Rajasthan High Court in case of CIT vs. Rajasthan State Electricity Board (2007) 160 Taxman 19 (Raj.)(HC), order passed by the co-ordinate Bench of the Tribunal in case of The West Coast Paper Mills Ltd. vs. JCIT in ITA No.5403/B/99 dated 21.06.2005 (Mumbai-Trib.) and order passed by the Hon’ble Bombay H…

M/S. Star Chemical (Bombay) P. Ltd., Mumbai vs. DCIT CIT - 3(3), Mumbai

ITA 5986/MUM/2006[1995-1996]Status: DisposedITAT Mumbai27 May 2022AY 1995-1996

Bench: Shri Kuldip Singh & Shri Gagan Goyal

For Appellant: Shri K. Shivaram, Sr. A.R. &For Respondent: Shri B.K. Bagchi, Sr. A.R

M/S Chowgule and Company (Salt) Pvt. Ltd, Mormugao vs. The ACIT, Circle - 2, Margao

The appeal of the assessee is partly allowed in terms of aforesaid observation

ITA 390/PAN/2017[2012-13]Status: DisposedITAT Panaji29 Apr 2022AY 2012-13

Bench: Shri Ravish Sood & Shri Jamlappa D. Battullआयकर अपील सं. / Ita No. : 390/Pan/2017 करधििाारण वर्ा / Assessment Year : 2012-2013 M/S Chowgule & Company (Salt) Pvt Ltd., Chowgule House, Mormugao Harbour, Goa – 403803. Pan: Aabcc 5595 J . . . . . . . अपीलार्थी / Appellant बिाम / V/S Asstt. Commissioner Of Income Tax, Circle-2, Margao, Goa. . . . . . . . प्रत्यर्थी / Respondent द्वारा / Appearances Assessee By : Ms Hiral Sejpal Revenue By : Shri Sourabh Nayak सुनवाई की तारीख / Date Of Conclusive Hearing : 24/02/2022 घोषणा की तारीख / Date Of Pronouncement : 29/04/2022 आदेश / Order Per Jamlappa D Battull Am; The Present Appeal Filed By The Appellant Assessee Is Directed Against The Order Of Commissioner Of Income Tax- Appeals, Panaji-1 [For Short “Cit(A)”] Dt. 09/10/2017 Passed U/S 250 Of The Income-Tax Act, 1961 [For Short “The Act”], Which In Turn Tousled Out Of Order Of Assessment Of Assistant Commissioner Of Income Tax-Circle-2, Margoa [For Short “Ao”] Dt. 27/07/2014 Passed U/S 143(3) Of The Act, For The Assessment Year [For Short “Ay”] 2012-2013. Itat-Panaji Page 1 Of 23

For Appellant: Ms Hiral SejpalFor Respondent: Shri Sourabh Nayak

Section 10(35)Section 115JSection 143(3)Section 14ASection 14A(1)Section 250

…rgy” is only attached to the word ‘pump’ and not to the electric generators. 5) The Learned CIT(A) has erred in not following the decision of the Hon’ble High Court of Orissa in the case of industrial Development Corporation of Orissa Ltd. Vs CIT reported in 268 ITR 130 (Ori) and in [2015] 56 taxmann.com 337 (Madras) 6) The Learned CIT(A) ought to have appreciated that the Direct Taxes ready Reckoner mentions at Para 48.3 that “Plant and machinery – Energy saving devices, renewal energy devices, windmills, electric ITAT-Panaji Page 4 of 23 M/s Chowgule and Company (Salt) Pvt Ltd ITA No.: 390/PAN/2017, AY :…

Brace Iron & Steel P.Ltd, New Delhi vs. Addl.CIT, Special Range-2, New Delhi

In the result, appeal of Assessee is allowed

ITA 8617/DEL/2019[2015-16]Status: DisposedITAT Delhi03 Aug 2021AY 2015-16

Bench: Shri R.K. Panda & Ms. Suchitra Kamble

For Appellant: Shri Lakshya Budhira, C.AFor Respondent: Shri Satpal Gulati, CIT-DR

…hin the 4 corners of the law. See Para relied upon by the appellant, the 16, 17. applicability of aforesaid decision of Delhi High Court does not have d. Reliance was placed on the decision of Industrial Development Corporation of any relevance.” Orissa Ltd., 268 ITR 130 (Ori) to hold that the Revenue could only discard a transaction if material or evidence exists before it to show that the intention of the parties was different from what has been incorporated in the documents forming part of the SCBL transaction. The Hon’ble Delhi H.C. agreed with the finding of the Hon’ble Ori H.C. by holding that the real inte…

Uma Singal, New Delhi vs. ACIT, Centrl Circle-3, New Delhi

ITA 1484/DEL/2018[2014-15]Status: DisposedITAT Delhi07 Dec 2018AY 2014-15

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

For Appellant: Shri S. K. Tulsiyan, AdvFor Respondent: Shri S S Rana CIT DR

Section 10(38)Section 143Section 153ASection 250Section 68

…the tax attracted in the transaction is less and would not fall outside the four corners of law applicable at the relevant time. The tax management is permissible if the law authorizes so.” (ii) Industrial Development Corporation of Orissa Ltd. Vs. CIT (2004) 268 ITR 130 (Ori): Held as under: “An act which is otherwise valid in law cannot be treated as non-est merely on the basis of some underlying motive supposedly resulting in some economic detriment or prejudice to the national interest. In other words, if a transaction is otherwise valid in law and results in reduction of tax to an assessee, the same cannot b…

Ritu Singal, New Delhi vs. ACIT, Central Circle- 3, New Delhi

ITA 1481/DEL/2018[2015-16]Status: DisposedITAT Delhi07 Dec 2018AY 2015-16

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

For Appellant: Shri S. K. Tulsiyan, AdvFor Respondent: Shri S S Rana CIT DR

Section 10(38)Section 143Section 153ASection 250Section 68

Reliance Corporate It Park Ltd, Mumbai vs. Pr CIT 3, Mumbai

In the result the appeal of the assessee is allowed

ITA 2748/MUM/2015[2010-11]Status: DisposedITAT Mumbai08 Mar 2017AY 2010-11

Bench: Shri Amit Shukla, Jm & Shri Rajesh Kumar, Am आमकय अऩीर सं./I.T.A. No.2748/Mum/2015 (ननधधारण वषा / Assessment Year : 2010-11) Reliance Corporate It Park Ltd., बनधम/ Principal Commissioner Of Maker Tower E, 7Th Floor, Income Tax-6, Vs. A Wing- Cuff Parade Mumbai- 612, Aayakar Bhavan, 400005 Mk Road, Mumbai-400020 स्थधयी ऱेखध सं./ Pan : Aabcd7169H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. अऩीराथी की ओय से/Appellant By : Shri Arvind Sonde प्रत्मथी की ओय से/ Respondent By : Shri Rajesh Kumar सुनवाई की तायीख / Date Of Hearing : 14.12.2016 घोषणा की तायीख /Date Of Pronouncement : 3.2017 आदेश / O R D E R Per Rajesh Kumar, Am : The Aforesaid Appeal Has Been Filed By The Assessee Against The Impugned Order Dated 20.3.2015, Passed By Ld. Principal Commissioner Of Income Tax -3, Mumbai Under Section 263, Setting Aside The Order Of The Assessing Officer Dated 20.3.2013 For Passing It Afresh. The Assessee In This Appeal Has Taken Following Grounds Of Appeal: “1. Ground No.1 (I) The Learned Pr. Commissioner Of Income Tax- 3, (Hereinafter Referred To As Cit) Erred In Passing The Order Under Section 263 Of The Act, By Holding That The Assessment Order Passed By The Oy. Commissioner Of Income Tax, Circle -3(3), Mumbai (Hereinafter

For Appellant: Shri Arvind SondeFor Respondent: Shri Rajesh Kumar

Section 143(3)Section 263Section 32

…TR 206)(RAJ); iii) KM Sugar Mills Ltd. v. CIT –(2015) 57 taxmann.com 68(SC); iv) I.C.D.5. v. CIT (2013) 29 taxmann.com 129 (SC); v) Minda Corporation Limited V DC IT (2016) 69 taxmann.com 317(Del-Trib); vi) Industrial Development Corporation of India v. CIT - 268 ITR 130 (Orissa High Court) vii) CIT V/s Zuari Finance Ltd. and Another – 271 ITR 538(Bom); viii) CIT V/s v. Gujarat Gas Co. Ltd. - - 308 ITR 243(Guj); 8 I . T . A . N o . 2 7 4 8 / M u m / 2 0 1 5 ix) CIT V/s Cosmo Films Ltd. - - 338 ITR 266 (Del); x) CIT V/s George Williamson (Assam) Ltd. - 265 ITR 626(Guw); xi) Bharti Hexacom Ltd. v. ACIT (2016) 68 t…

DCIT 8(1), Mumbai vs. Castrol India Ltd, Mumbai

In the result, assessee’s appeal is partly allowed

ITA 7922/MUM/2010[2003-04]Status: DisposedITAT Mumbai29 Jul 2016AY 2003-04

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Appellant: Shri Peejush Sonkar, Sr. Counsel a/wFor Respondent: Shri N.K. Chand

Section 271(1)(c)

…particular rate without any further condition, then the claim of the assessee cannot be termed as “bonafide”. In this context, he referred to the decision of Hon’ble Orissa High Court in Industrial Development Corporation Of Orissa Ltd. v/s CIT & Ors. [2004] 268 ITR 130 (Orissa). Learned Authorised Representative submitted, in any case of the matter, assessee having furnished full particulars of depreciation claimed in its audited accounts and claim being made under a bonafide on the basis of certificate of the Chartered Engineer, penalty under section 271(1)(c) is not imposable merely because such claim of the…

Commissioner of Income Tax vs. Cosmo Films Ltd

The appeal is dismissed

ITA/1404/2008HC Delhi18 Jul 2011

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

For Appellant: Ms Suruchi AggarwalFor Respondent: Mr Ajay Vohra with Ms Kavita Jha, Mr Sriram Krishna

Section 260

…n favour of the assessee and against the revenue and the revenue‟s appeal is liable to be dismissed. Mr Vohra placed reliance on the following decisions:- 1) Industrial Development Corporation of Orissa Limited v. Commissioner of Income-tax and Others: 268 ITR 130 (Ori); 2) Commissioner of Income-tax v. Rajasthan State Electricity Board: (2006) 204 CTR 415 (Raj); 3) Commissioner of Income-tax v. Gujarat Gas Company Limited: (2009) 308 ITR 243 (Guj); 4) SBI Home Finance Limited v. Commissioner of Income-tax: 280 ITR 6 (Cal); 5) Commissioner of Income-tax v. Zuari Finance Limited and Anot…