Indo Rama Synthetics (I) Ltd. v. CIT

330 ITR 363Supreme Court of India2011#1540 most cited

What is Indo Rama Synthetics (I) Ltd. v. CIT authority for?

For Minimum Alternate Tax (MAT) under Section 115JB, the book profit must reflect the true working results of the company. Capital receipts that are not income cannot be included in book profit, and adjustments based on notes on accounts can be made to arrive at the real profit.

74

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2013 to 2026.

Also referred to as

Indo Rama Synthetics (I) Ltd. v. CIT · Indo Rama Synthetics · Section 115JB · Minimum Alternate Tax · MAT book profit computation · real profit · true working result · notes on accounts · capital receipts · allowances and deductions MAT · deemed total income

Also reported as

196 Taxmann 539

Sections most often in play

Section 115JBSection 14ASection 37(1)Section 143(3)Section 139(5)Section 153ASection 250Section 132

Issues it is cited on

section 41(1)(a)section 207section 54eminimum alternate taxsection 94section 115jasection 211explanation to section 37section 38section 115jb(2)section 43(1)section 35(2ab)

Judgments citing Indo Rama Synthetics (I) Ltd. v. CIT

ACIT CIRCLE 3(2)(1), MUMBAI vs. SOL ENTERTAINMENT PRIVATE LIMITED, MUMBAI

In the result, the appeal of the Revenue is dismissed

ITA 6017/MUM/2025[2013]Status: DisposedITAT Mumbai05 Mar 2026

Bench: Shri Saktijit Dey & Shri Makarand V Mahadeokara.Y:2013-14 Acit, Circle – 3(2)(1) Vs. Sol Entertainment Pvt Ltd Room No. 608, 6Th Floor, 903-904, 9Th Floor, Aayakar Aayakar Bhavan, Mk Bhavan, Mk Road, Road, Churchgate, Churchgate, Mumbai Mumbai – 400020. Pan/Gir No.Aapcs6369A (Applicant) (Respondent)

Section 115JSection 143(3)Section 250Section 36(1)(va)Section 4

…unt, the same cannot be added back while computing book profit under section 115JB. 16. The Assessing Officer has placed reliance on the judgment of the Hon’ble Supreme Court in Indo Rama Synthetics (I) Ltd. v. 6 Sol Entertainment Pvt Ltd, Mumbai CIT (2011) 330 ITR 363 (SC). A careful reading of the said decision, however, shows that the Hon’ble Supreme Court was dealing with a specific issue arising under clause (i) of the Explanation to section 115JB(2) relating to the allowability of reduction from book profit in respect of amount withdrawn from revaluation reserve and credited to the profit and loss account…

DCIT CIR-5(1), KOLKATA, KOLKATA vs. DHUNSERI VENTURES LIMITED, KOLKATA

In the result, the appeal of the revenue is dismissed

ITA 1780/KOL/2025[2014-15]Status: DisposedITAT Kolkata16 Oct 2025AY 2014-15

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyassessment Year: 2014-15 Dcit, Circle-5(1), Kolkata..……………………….……….……….……Appellant Vs. M/S Dhunseri Ventures Ltd…………………………….....……...…..…..Respondent 4A, Dhunseri House, Woodburn Park, Kol - 700020.. [Pan: Aabck1597K] Appearances By: Shri Akkal Dudhwewala, Fca, Appeared On Behalf Of The Appellant. Shri Raja Sengupta, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : October 08, 2025 Date Of Pronouncing The Order : October 16, 2025

Section 115JSection 143(2)Section 14ASection 250

…and III of Schedule VI of Companies Act 1956, includes notes on accounts thereon and accordingly in order to determine the real profit of the assessee as laid down by the Hon'ble Apex Court in the case of Indo Rama Synthetics (I) Ltd vs CIT reported in (2011) 330 ITR 363 (SC), adjustment need to be made to the disclosures made in the notes on accounts forming part of the profit and loss account of the assessee and the profits arrived after such adjustment , should be considered for the purpose of computation of book profits u/s 115JB of the Act and thereafter, the Learned AO has to make adjustments for additions…

SHYAM METALICS AMD ENERGY LIMITED,KOLKATA vs. DCIT, CENTRAL CIRCLE 1(1), , KOLKATA

In the result, the appeal of the assessee is partly allowed for statistical purpose

ITA 1074/KOL/2025[2014-2015]Status: DisposedITAT Kolkata15 Sept 2025AY 2014-2015

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyassessment Year: 2014-15 Shyam Metalics & Engery Ltd…...………..............................……….……Appellant 83, Trinity Tower, 7Th Floor, Topsia, Kol-700046, [Pan: Aahcs5842A] Vs. Dcit, Central Circle-1(1), Kolkata…………………………...……...…..…..Respondent Appearances By: Shri Akkal Dudhewala, Ar, Appeared On Behalf Of The Appellant. Shri Praveen Kishore, Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : July 23, 2025 Date Of Pronouncing The Order : September 15, 2025 Order Per Rajesh Kumar: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 08.04.2025 Of The Commissioner Of Income Tax (Appeals)- 22, Kolkata [Hereinafter Referred To As The “Ld. Cit(A)”] Passed U/S 250 Of The Income Tax Act, 1961 [Hereinafter Referred To As The “Act”].

Section 250Section 68

…fits are computed not in accordance with Part II and Part III of Schedule VI to the Companies Act, 1956. The Hon'ble Supreme Court in their subsequent decision rendered in the case of Indo Rama Synthetics (I) Ltd. v. CIT [2011] 9 taxmann.com 25/196 Taxman 539/330 ITR 363 further held that, the object of MAT provisions is to bring out the true working result of the companies. As held in the preceding paras, the subsidies received by the assessee were capital in nature and therefore not liable to tax. In the circumstances therefore, inclusion of such capital receipt in the computation of book profit u/s 115JB would…

SANDHAR TECHNOLOGIES LTD.,NEW DELHI vs. ACIT, CIRCLE LTU-1, NEW DELHI

In the result, both appeals of the assesses are partly allowed

ITA 7169/DEL/2019[2016-17]Status: DisposedITAT Delhi13 Aug 2025AY 2016-17

Bench: Shri Vikas Awasthy & Shri M. Balaganeshआअसं.7168 और 7169/िद"ी/2019(िन.व. 2015-16 और 2016-17)

For Appellant: S/Shri Salil Kapoor, Tarun Chanana, Utkarsa Gupta &For Respondent: Shri Manish Gupta, Sr. DR
Section 10Section 115JSection 143(3)Section 14ASection 35

…er provisions of the Act. There is no scope for any allowances or deductions under any other section from what is deemed to be the total income of the company (the assessee) as held by Hon'ble Supreme Court in case of Indo Rama Synthetics I) Ltd. v CIT [2011] 330 ITR 363.” The ld. Counsel to further buttress his submissions on this issue placed reliance on the following decisions: (i) PCIT vs. Moon Star Securities Trading & Finance Co. (P.) Ltd. 161 axmann.com 158 (Delhi); (ii) PCIT vs. Artia Power Coporation Ltd. 142 taxmann.com 314 (SC); & (iii) Vireet Investment (P) Ltd. 82 taxmann.com 412 [Delhi Trib.]. 4. Pe…

SANDHAR TECHNOLOGIES LTD.,NEW DELHI vs. ACIT, CIRCLE LTU-1, NEW DELHI

In the result, both appeals of the assesses are partly allowed

ITA 7168/DEL/2019[2015-16]Status: DisposedITAT Delhi13 Aug 2025AY 2015-16

Bench: Shri Vikas Awasthy & Shri M. Balaganeshआअसं.7168 और 7169/िद"ी/2019(िन.व. 2015-16 और 2016-17)

For Appellant: S/Shri Salil Kapoor, Tarun Chanana, Utkarsa Gupta &For Respondent: Shri Manish Gupta, Sr. DR
Section 10Section 115JSection 143(3)Section 14ASection 35

…er provisions of the Act. There is no scope for any allowances or deductions under any other section from what is deemed to be the total income of the company (the assessee) as held by Hon'ble Supreme Court in case of Indo Rama Synthetics I) Ltd. v CIT [2011] 330 ITR 363.” The ld. Counsel to further buttress his submissions on this issue placed reliance on the following decisions: (i) PCIT vs. Moon Star Securities Trading & Finance Co. (P.) Ltd. 161 axmann.com 158 (Delhi); (ii) PCIT vs. Artia Power Coporation Ltd. 142 taxmann.com 314 (SC); & (iii) Vireet Investment (P) Ltd. 82 taxmann.com 412 [Delhi Trib.]. 4. Pe…

ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. NATIONAL E ASSESSMENT CENTRE, NEW DELHI

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

ITA 242/NAG/2023[2018-19]Status: DisposedITAT Nagpur09 Sept 2024AY 2018-19

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mani JainFor Respondent: Shri Kailash C. Kanojiya
Section 139Section 142(1)Section 143(2)

…promote the general legislative purpose underlying the provision.” (underlined and bold for emphasis) Submissions as to object of section 115JB of the Act: The Hon'ble Supreme Court in its subsequent decision rendered in Indo Rama Synthetics (1) Ltd. v. CIT (330 ITR 363) held that, the object of MAT provisions is to bring out the true working result of the companies. Based on the various decisions quoted in the preceding paragraphs it can Economic Explosives Ltd. ITA no.177/Nag./2022 ITA no.242/Nag./2023 be seen that the courts, including the Apex Court, have held that, the subsidies received by the assessees we…

ECONOMIC EXPLOSIVES LIMITED,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1 (2), NAGPUR

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

ITA 177/NAG/2022[2017-18]Status: DisposedITAT Nagpur09 Sept 2024AY 2017-18

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mani JainFor Respondent: Shri Kailash C. Kanojiya
Section 139Section 142(1)Section 143(2)

…promote the general legislative purpose underlying the provision.” (underlined and bold for emphasis) Submissions as to object of section 115JB of the Act: The Hon'ble Supreme Court in its subsequent decision rendered in Indo Rama Synthetics (1) Ltd. v. CIT (330 ITR 363) held that, the object of MAT provisions is to bring out the true working result of the companies. Based on the various decisions quoted in the preceding paragraphs it can Economic Explosives Ltd. ITA no.177/Nag./2022 ITA no.242/Nag./2023 be seen that the courts, including the Apex Court, have held that, the subsidies received by the assessees we…

IPCA LABORATORIES LTD.,MUMBAI vs. DY CIT -CC-5(2), MUMBAI

In the result, both the appeals of the assessee as well as the revenue for AYs 2009-10, 2010-11, 2011-12, 2012-13 & 2014-15 are partly allowed

ITA 881/MUM/2021[2012-13]Status: DisposedITAT Mumbai08 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T. A. No. 880/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2009-10) & आयकर अपील सं/ I.T. A. No. 879/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 882/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2011-12) & आयकर अपील सं/ I.T. A. No. 881/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 883/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2014-15)

For Appellant: Shri Madhur Agrawal (Adv)For Respondent: Shri K. C Selvamani (DR)
Section 115JSection 132Section 143(3)Section 153ASection 35Section 80I

…share warrants amounting to Rs. 12,65,75,000/-, being a capital receipt, would be liable for taxation u/s 115JB. The tribunal after referring to several decisions on the issue viz., the Hon'ble Apex Court in case of Indo Rama Synthetics (I) Ltd. v. CIT [2011] 330 ITR 336/9 taxmann.com 25, Apollo Tyres Ltd. v. CIT [2002] 255 ITR 273/122 Taxman 562 (SC), Special Bench ITAT in the case of Rain Commodities Ltd. v. Dy. CIT [2010] 40 SOT 265 (Hyd.) (SB), ITAT Luknow Bench in the case of ACIT v. L.H. Sugar Factory Ltd. and vice versa [ITA Nos. 417 , 418 & 339/LKW/2013, dated 9-2-2016] and decision of Mumbai ITAT in the…

IPCA LABORATORIES LTD.,MUMBAI vs. DY CIT -CC-5(2), MUMBAI

ITA 880/MUM/2021[2009-10]Status: DisposedITAT Mumbai08 Apr 2024AY 2009-10
Section 115JSection 132Section 153ASection 35

…e warrants\namounting to Rs. 12,65,75,000/-, being a capital receipt, would be\nliable for taxation u/s 115JB. The tribunal after referring to\nseveral decisions on the issue viz., the Hon'ble Apex Court in case\nof Indo Rama Synthetics (I) Ltd. v. CIT [2011] 330 ITR 336/9\ntaxmann.com 25, Apollo Tyres Ltd. v. CIT [2002] 255 ITR\n273/122 Taxman 562 (SC), Special Bench ITAT in the case\nof Rain Commodities Ltd. v. Dy. CIT [2010] 40 SOT 265 (Hyd.)\n(SB), ITAT Luknow Bench in the case of ACIT v. L.H. Sugar\nFactory Ltd. and vice versa [ITA Nos. 417 , 418 &\n339/LKW/2013, dated 9-2-2016] and decision of Mumbai ITAT\n…

DY.CIT CC -5(2) CENT. RG. -5, MUMBAI vs. M/S. IPCA LABORATORIES LTD, MUMBAI

ITA 2571/MUM/2021[2014-15]Status: DisposedITAT Mumbai08 Apr 2024AY 2014-15
Section 115JSection 132Section 153ASection 35

…e warrants\namounting to Rs. 12,65,75,000/-, being a capital receipt, would be\nliable for taxation u/s 115JB. The tribunal after referring to\nseveral decisions on the issue viz., the Hon'ble Apex Court in case\nof Indo Rama Synthetics (I) Ltd. v. CIT [2011] 330 ITR 336/9\ntaxmann.com 25, Apollo Tyres Ltd. v. CIT [2002] 255 ITR\n273/122 Taxman 562 (SC), Special Bench ITAT in the case\nof Rain Commodities Ltd. v. Dy. CIT [2010] 40 SOT 265 (Hyd.)\n(SB), ITAT Luknow Bench in the case of ACIT v. L.H. Sugar\nFactory Ltd. and vice versa [ITA Nos. 417, 418 &\n339/LKW/2013, dated 9-2-2016] and decision of Mumbai ITAT\ni…

DCIT- CC5(2), MUMBAI vs. IPCA LABORATORIES LTD., MUMBAI

ITA 2569/MUM/2021[2012-13]Status: DisposedITAT Mumbai08 Apr 2024AY 2012-13
Section 115JSection 132Section 153ASection 35

…rrants \namounting to Rs. 12,65,75,000/-, being a capital receipt, would be \nliable for taxation u/s 115JB. The tribunal after referring to \nseveral decisions on the issue viz., the Hon'ble Apex Court in case \nof Indo Rama Synthetics (I) Ltd. v. CIT [2011] 330 ITR 336/9 \ntaxmann.com 25, Apollo Tyres Ltd. v. CIT [2002] 255 ITR \n273/122 Taxman 562 (SC), Special Bench ITAT in the case \nof Rain Commodities Ltd. v. Dy. CIT [2010] 40 SOT 265 (Hyd.) \n(SB), ITAT Luknow Bench in the case of ACIT v. L.H. Sugar \nFactory Ltd. and vice versa [ITA Nos. 417 , 418 &\n339/LKW/2013, dated 9-2-2016] and decision of Mumbai I…

CIT -CC5(2) CENTRAL RG., -5,, MUMBAI vs. M/S. IPCA LABORATORIES LTD, MUMBAI

ITA 2565/MUM/2021[2010-11]Status: DisposedITAT Mumbai08 Apr 2024AY 2010-11
Section 115JSection 132Section 153ASection 35

…e warrants\namounting to Rs. 12,65,75,000/-, being a capital receipt, would be\nliable for taxation u/s 115JB. The tribunal after referring to\nseveral decisions on the issue viz., the Hon'ble Apex Court in case\nof Indo Rama Synthetics (I) Ltd. v. CIT [2011] 330 ITR 336/9\ntaxmann.com 25, Apollo Tyres Ltd. v. CIT [2002] 255 ITR\n273/122 Taxman 562 (SC), Special Bench ITAT in the case\nof Rain Commodities Ltd. v. Dy. CIT [2010] 40 SOT 265 (Hyd.)\n(SB), ITAT Luknow Bench in the case of ACIT v. L.H. Sugar\nFactory Ltd. and vice versa [ITA Nos. 417 , 418 &\n339/LKW/2013, dated 9-2-2016] and decision of Mumbai ITAT\n…

M/S. PATANJALI FOODS LTD (FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD),MUMBAI vs. DY COMM OF INCOME TAX- CENTRAL CIRCLE-7(2), MUMBAI

In the result, the appeal and cross objections of the assessee are partly allowed and the appeals of the revenue are dismissed

ITA 320/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13)

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…Y Nos. 2010-11 & 2012-13 M/s. Patanjali Foods Ltd. adjustment prescribed in Explanation 1 to Section 115JB is to be carried out. For this, we may gainfully refer to the decision of the Hon’ble Supreme Court in the case of Indo Rama Synthetics (I) Ltd. v. CIT (330 ITR 363), wherein it was held that, the object of MAT provisions is to bring out the true working result of the companies, for which if so required, relevant adjustments can be made to the Net Profit. 10.5 In the present case, and from the facts discussed in the foregoing, it is evident that the items viz., bad debts and advances written off, ought to h…

DCIT, CC-7(2), MUMBAI vs. M/S. PATANJALI FOODS LTD.,( FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD,, MUMBAI

In the result, the appeal and cross objections of the assessee are

ITA 1176/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/S. Patanjali Foods Ltd Vs. (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross Objection No.51/Mum/2023 (Arising Out Of I.T. A. No. 1172/Mum/2023) (निर्धारण वर्ष / Assessment Year: 2010-11) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. बनाम / Dcit, Central Circle-7(2) Vs. Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. & आयकर अपील सं/ I.T. A. No. 320/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) बनाम / Vs. Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaci1220M 2

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…Y Nos. 2010-11 & 2012-13 M/s. Patanjali Foods Ltd. adjustment prescribed in Explanation 1 to Section 115JB is to be carried out. For this, we may gainfully refer to the decision of the Hon'ble Supreme Court in the case of Indo Rama Synthetics (I) Ltd. v. CIT (330 ITR 363), wherein it was held that, the object of MAT provisions is to bring out the true working result of the companies, for which if so required, relevant adjustments can be made to the Net Profit. 10.5 In the present case, and from the facts discussed in the foregoing, it is evident that the items viz., bad debts and advances written off, ought to ha…

DCIT, CC-7(2), MUMBAI vs. M/S. PATANJALI FOODS LTD.,( FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD,, MUMBAI

ITA 1175/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/S. Patanjali Foods Ltd Vs. (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross Objection No.51/Mum/2023 (Arising Out Of I.T. A. No. 1172/Mum/2023) (निर्धारण वर्ष / Assessment Year: 2010-11) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. बनाम / Dcit, Central Circle-7(2) Vs. Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. & आयकर अपील सं/ I.T. A. No. 320/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) बनाम / Vs. Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaci1220M 2

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…rovisions of the Companies Act and thereafter, the adjustment prescribed in Explanation 1 to Section 115JB is to be carried out. For this, we may gainfully refer to the decision of the Hon'ble Supreme Court in the case of Indo Rama Synthetics (I) Ltd. v. CIT (330 ITR 363), wherein it was held that, the object of MAT provisions is to bring out the true working result of the companies, for which if so required, relevant adjustments can be made to the Net Profit. 10.5 In the present case, and from the facts discussed in the foregoing, it is evident that the items viz., bad debts and advances written off, ought to ha…

DCIT, CC-7(2), MUMBAI vs. M/S. PATANJALI FOODS LTD.,( FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD,, MUMBAI

In the result, the appeal and cross objections of the assessee are partly allowed and the appeals of the revenue are dismissed

ITA 1172/MUM/2023[2010-11]Status: DisposedITAT Mumbai05 Apr 2024AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13)

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…Y Nos. 2010-11 & 2012-13 M/s. Patanjali Foods Ltd. adjustment prescribed in Explanation 1 to Section 115JB is to be carried out. For this, we may gainfully refer to the decision of the Hon’ble Supreme Court in the case of Indo Rama Synthetics (I) Ltd. v. CIT (330 ITR 363), wherein it was held that, the object of MAT provisions is to bring out the true working result of the companies, for which if so required, relevant adjustments can be made to the Net Profit. 10.5 In the present case, and from the facts discussed in the foregoing, it is evident that the items viz., bad debts and advances written off, ought to h…

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, the appeal of the Revenue in ITA No

ITA 500/JPR/2023[215-16]Status: DisposedITAT Jaipur21 Feb 2024

Bench: or at the time of hearing of this appeal.

For Appellant: Sh. Dilip B Desai(C.A.)For Respondent: Sh. Alka Gautam (CIT) (V.H) &
Section 115JSection 143Section 143(3)Section 144BSection 144B(1)(xvi)Section 80Section 80I

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”A” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. Nos. 489 to 492/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2015-16 to 2018-19 cuke Assisstant Commissioner of Shree Cement Limited Vs. Income Tax, ADM, Block, Masuda Road, Circle-2 Bangur Nagar, Beawar, Ajmer Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AACCS 8796 G vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA. Nos. 496 to…

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DEPUTY COMMISSIONEROF INCOME TAX, CIRCLE -2, AJMER, AJMER

In the result, the appeal of the Revenue in ITA No

ITA 496/JPR/2023[2016-17]Status: DisposedITAT Jaipur21 Feb 2024AY 2016-17

Bench: or at the time of hearing of this appeal.

For Appellant: Sh. Dilip B Desai(C.A.)For Respondent: Sh. Alka Gautam (CIT) (V.H) &
Section 115JSection 143Section 143(3)Section 144BSection 144B(1)(xvi)Section 80Section 80I

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”A” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. Nos. 489 to 492/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2015-16 to 2018-19 cuke Assisstant Commissioner of Shree Cement Limited Vs. Income Tax, ADM, Block, Masuda Road, Circle-2 Bangur Nagar, Beawar, Ajmer Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AACCS 8796 G vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA. Nos. 496 to…

DCIT (CENTRAL CIRCLE -6(3), MUMBAI vs. KARANJA TERMINAL & LOGISTICS PVT LTD, MUMBAI

In the result, the appeals of the Revenue are dismissed

ITA 2159/MUM/2023[2016-2017]Status: DisposedITAT Mumbai16 Oct 2023AY 2016-2017

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

Section 115J

…1 ITAs 2158 & 2159/Mum/2023 Karanja Terminal & Logistics Pvt Ltd IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E”,MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND Ms. PADMAVATHY S. (ACCOUNTANT MEMBER) I.T.A. No.2158/Mum/2023 - A.Y. 2017-18 I.T.A. No.2159/Mum/2023 - A.Y. 2016-17 DCIT, Circle 6(3), Air India, vs Karanja Terminal & Logistics Pvt Ltd 13/14, Khetan Bhavan, 3rd Floor Mumbai Plot – 198, Jamshedji Tata Road Churchgate, Mumbai-400 020 PAN : AADCK9709Q APPELLANT RESPONDENT Present for the Assessee Shri Mihir Naniwadekar Present for the Department Ms. N.V. Nadkarni Date of hearing 11/10/2023 D…

DCIT (CENTRAL CIRCLE -6(3), MUMBAI vs. KARANJA TERMINAL & LOGISTICS PVT LTD, MUMBAI

In the result, the appeals of the Revenue are dismissed

ITA 2158/MUM/2023[2017-18]Status: DisposedITAT Mumbai16 Oct 2023AY 2017-18

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

Section 115J

…1 ITAs 2158 & 2159/Mum/2023 Karanja Terminal & Logistics Pvt Ltd IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E”,MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND Ms. PADMAVATHY S. (ACCOUNTANT MEMBER) I.T.A. No.2158/Mum/2023 - A.Y. 2017-18 I.T.A. No.2159/Mum/2023 - A.Y. 2016-17 DCIT, Circle 6(3), Air India, vs Karanja Terminal & Logistics Pvt Ltd 13/14, Khetan Bhavan, 3rd Floor Mumbai Plot – 198, Jamshedji Tata Road Churchgate, Mumbai-400 020 PAN : AADCK9709Q APPELLANT RESPONDENT Present for the Assessee Shri Mihir Naniwadekar Present for the Department Ms. N.V. Nadkarni Date of hearing 11/10/2023 D…

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Indo Rama Synthetics (I) Ltd. v. CIT (330 ITR 363) — Cited in 74 Judgments | BharatTax