Industries Ltd. v. ITO

4 SCC 36Supreme Court of India2011#7130 most cited

What is Industries Ltd. v. ITO authority for?

The explicit mention of 'land or building' in a statute implies the exclusion of rights in land or building, based on the maxim 'Expressio Unius Est Exclusio Alterius'. Therefore, Section 50C of the Income Tax Act, 1961, which applies to land or building, cannot be extended to leasehold rights in land.

16

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2013 to 2024.

Also referred to as

GVK Industries Ltd. v. ITO · 4 SCC 36 · Section 50C · Expressio Unius Est Exclusio Alterius · land or building · rights in land or building · leasehold rights · capital gains · stamp duty valuation

Sections most often in play

Section 147Section 153ASection 153CSection 44ADSection 143(3)Section 194CSection 133(6)Section 245-I

Issues it is cited on

section 245c(1)section 245hsection 245csection 245d(4)section 245dfull and true disclosuresection 245section 156section 194csection 44abook profitssection 44ad

Judgments citing Industries Ltd. v. ITO

Assistant Commissioner of Income Tax, Thane West vs. Konark Infrastructure (Water Supply-Umc)(Jv), Ulhasnagar

In the result, all the appeals of the Revenue are dismissed and

ITA 3061/MUM/2023[2014-15]Status: DisposedITAT Mumbai27 Feb 2024AY 2014-15
For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 139(1)Section 153CSection 245C(1)Section 245D(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI BR BASKARAN, AM & SHRI ABY T. VARKEY, JM आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ष / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बनाम / DCIT, Central Circle – 4 (Water Supply-UMC) (J/V) 6th Floor, Ashar IT park, 1st Floor, Sapna Talkies, Vs. 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थायी लेखा सं./ जीआइआर सं./PAN/GIR No. : AAAK9702G (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर…

Assistant Commissioner of Income Tax, Thane West vs. Konark Infrastructure (Water Supply-Umc)(Jv), Ulhasnagar

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

ITA 3060/MUM/2023[2015-16]Status: DisposedITAT Mumbai27 Feb 2024AY 2015-16

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 139(1)Section 153CSection 245C(1)Section 245D(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI BR BASKARAN, AM & SHRI ABY T. VARKEY, JM आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ DCIT, Central Circle – 4 (Water Supply-UMC) (J/V) 6th Floor, Ashar IT park, Vs. 1st Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : AAAK9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (न…

Assistant Commissioner of Income Tax, Thane vs. Konark Infrastructure (Water Supply-Umc)(Jv), Ulhasnagar

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

ITA 3059/MUM/2023[2017-18]Status: DisposedITAT Mumbai27 Feb 2024AY 2017-18

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 139(1)Section 153CSection 245C(1)Section 245D(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI BR BASKARAN, AM & SHRI ABY T. VARKEY, JM आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ DCIT, Central Circle – 4 (Water Supply-UMC) (J/V) 6th Floor, Ashar IT park, Vs. 1st Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : AAAK9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (न…

Assistant Commissioner of Income Tax, Thane vs. Konark Infrastructure (Water Supply-Umc)(Jv), Ulhasnagar

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

ITA 3058/MUM/2023[2013-14]Status: DisposedITAT Mumbai27 Feb 2024AY 2013-14

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 139(1)Section 153CSection 245C(1)Section 245D(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI BR BASKARAN, AM & SHRI ABY T. VARKEY, JM आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ DCIT, Central Circle – 4 (Water Supply-UMC) (J/V) 6th Floor, Ashar IT park, Vs. 1st Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : AAAK9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (न…

Konark Infrastructure (Water Supply-Umc) (J/V), Thane vs. DCIT Central Circle - 4, Thane

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

ITA 3024/MUM/2023[2017-18]Status: DisposedITAT Mumbai27 Feb 2024AY 2017-18

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 139(1)Section 153CSection 245C(1)Section 245D(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI BR BASKARAN, AM & SHRI ABY T. VARKEY, JM आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ DCIT, Central Circle – 4 (Water Supply-UMC) (J/V) 6th Floor, Ashar IT park, Vs. 1st Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : AAAK9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (न…

Konark Infrastructure ( Water Supply- Umc) (J/V), Ulhasnagar vs. DCIT, Central Circle - 4, Thane

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

ITA 3023/MUM/2023[2015-16]Status: DisposedITAT Mumbai27 Feb 2024AY 2015-16

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 139(1)Section 153CSection 245C(1)Section 245D(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI BR BASKARAN, AM & SHRI ABY T. VARKEY, JM आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ DCIT, Central Circle – 4 (Water Supply-UMC) (J/V) 6th Floor, Ashar IT park, Vs. 1st Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : AAAK9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (न…

Konark Infrastructure (Water Supply - Umc) (J/V), Ulhasnagar vs. DCIT Central Circle - 4, Thane

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

ITA 3022/MUM/2023[2014-15]Status: DisposedITAT Mumbai27 Feb 2024AY 2014-15

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 139(1)Section 153CSection 245C(1)Section 245D(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI BR BASKARAN, AM & SHRI ABY T. VARKEY, JM आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ DCIT, Central Circle – 4 (Water Supply-UMC) (J/V) 6th Floor, Ashar IT park, Vs. 1st Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : AAAK9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (न…

Konark Infrastructure (Water Supply - Umc) (J/V), Ulhasnagar vs. DCIT Central Circle -4, Thane

In the result, all the appeals of the Revenue are dismissed and the appeals of the assessee for AY 2013-14 is allowed, for AYs

ITA 3021/MUM/2023[2013-14]Status: DisposedITAT Mumbai27 Feb 2024AY 2013-14

Bench: Shri Br Baskaran, Am & Shri Aby T. Varkey, Jm आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ Dcit, Central Circle – 4 (Water Supply-Umc) (J/V) 6Th Floor, Ashar It Park, Vs. 1St Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Dcit, Central Circle – 4 बिधम/ Konark Infrastructure 6Th Floor, Ashar It Park, (Water Supply-Umc) Vs. 16Z, Waghle Estate, Thane (J/V) (W) 1St Floor, Sapna Talkies, Konark Plaza, Near Sapna Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaak9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Vijay Mehta Revenue By: Shri Biswanant Das, Cit Dr सुनवाई की तारीख / Date Of Hearing: 06 & 14/02/2024 घोषणा की तारीख /Date Of Pronouncement: 27/02/2024 आदेश / O R D E R Per Bench All These Appeals Preferred By The Revenue & The Assessee Are Against The Orders Of The Ld. Cit(A)-11, Pune, All Dated 30-06- 2023 For Ays 2013-14, 2014-15, 2015-16 & Ay 2017-18. Since The Issues Involved Are Common, All The Appeals Have Been Heard Together. Both The Parties Also Raised Similar Arguments On These A.Ys. 2013-14 To 2015-16 Konark Infrastructure., Issues. Accordingly, We Dispose Off All These Appeals By This Consolidated Order For The Sake Of Convenience.

For Appellant: Shri Vijay MehtaFor Respondent: Shri Biswanant Das, CIT DR
Section 132Section 139(1)Section 153CSection 245C(1)Section 245D(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI BR BASKARAN, AM & SHRI ABY T. VARKEY, JM आयकर अपील सं/ I.T.A. Nos. 3021, 3022, 3023 & 3024/Mum/2023 (निर्धारण वर्ा / Assessment Years: 2013-14, 2014-15, 2015-16 & 2017-18) Konark Infrastructure बिधम/ DCIT, Central Circle – 4 (Water Supply-UMC) (J/V) 6th Floor, Ashar IT park, Vs. 1st Floor, Sapna Talkies, 16Z, Waghle Estate, Konark Plaza, Near Sapna Thane (W) Garden, Ulhasnagar 42100. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : AAAK9702G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) आयकर अपील सं/ I.T.A. Nos. 3058, 3061, 3060 & 3059/Mum/2023 (न…

Commissioner of Income Tax, Kol - IV vs. Jct. Ltd

ITA/19/2013HC Calcutta19 Dec 2023

Bench: HON'BLE JUSTICE SURYA PRAKASH KESARWANI,HON'BLE JUSTICE RAJARSHI BHARADWAJ

Section 263Section 36(1)(iii)Section 37(1)

…business and so that if at the time of borrowing the assessee had sufficient amount of its own fund and for that purpose deduction could not be allowed. Even otherwise, this case is squarely covered by the decision in the case of J. K. Industries Ltd. Vs. CIT 61 DTR 153 wherein it is held that in a situation in which interest free advances granted by the assessee to the subsidiary companies are less than cash profit generated by the assessee it should be presumed that the subsidiaries were paid out of the profits of the assessee which is far in excess of amount paid to the subsidiaries" In view of the above facts…

Narendra Shantikumar Firodia, Ahmednagar vs. Deputy Commissioner of Income Tax, Ahmednagar

ITA 494/PUN/2020[2014-2015]Status: DisposedITAT Pune09 Dec 2022AY 2014-2015

Bench: Hon’Ble Shri Ss Viswanethra Ravi & Shri G. D. Padmahshaliआयकर अपऩल सं. / Ita No. 494/Pun/2020 निर्धारण वर्ा / Assessment Year : 2014-15 Shri Narendra Shantikumar Firodia, 5 Shobha Sadan, Aurangabad Road, Dsp Chowk, Ahmednagar – 414 002 Pan :Aabpf6158K . . . . . . . अपऩलधथी / Appellant बनाम / V/S. Dy. Commissioner Of Income Tax, Ahmednagar. . . . . . . . प्रत्यथी / Respondent द्वारा / Appearances Assessee By : Shri C. H. Naniwadekar Revenue By : Shri Ramnath Murkunde सपिवधई की तधरऩख / Date Of Conclusive Hearing : 13/10/2022 घोर्णध की तधरऩख / Date Of Pronouncement : 09/12/2022 आदेश / Order Per G. D. Padmahshali, Am; The Present Appeal Is Assailed Against The Order Of Commissioner Of Income Tax (Appeals)-2, Pune [For Short “Cit(A)”] Dt. 20/03/2020 Passed U/S 250 Of The Income-Tax Act, 1961 [For Short “The Act”] Upholding The Order Of Assessment Dt. 28/12/2016 Passed U/S 143(3) Of The Act By Asstt. Commissioner Of Income Tax, Ahmednagar Circle, Ahmednagar [For Short “Ao”] For The Assessment Year [For Short “Ay”] 2014-15. Itat-Pune Page 1 Of 8

For Appellant: Shri C. H. NaniwadekarFor Respondent: Shri Ramnath Murkunde
Section 143(2)Section 143(3)Section 250Section 50C

…he expression of any right in therein i.e. land or building. Therefore, the precise use of one expression would exclude the other, a legal premise which is supported by the judgment of Hon’ble Apex Court in the case of “GVK Industries Ltd. Vs ITO” reported in 4 SCC 36. 9. In this view of the matter, in our considered opinion, the point sought to be raised by the Ld. AR deserves to be upheld. Such a distinction also has found approval of the Hon’ble Jurisdictional Bombay High Court in the case of “CIT Vs Greenfield Hotels & Estates Pvt. Ltd.” Reported in 389 ITR 68. 10. In view of the aforesaid factual position an…

Bhavana Shashikant Ghone, Pune vs. Income-Tax Officer, Ward - 12(2), Pune

Appeal is allowed in above terms

ITA 839/PUN/2018[2014-15]Status: DisposedITAT Pune20 Jun 2022AY 2014-15

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No.839/Pun/2018 ननधधारण वषा / Assessment Year : 2014-15

For Appellant: Shri M.K. KulkarniFor Respondent: Shri S. P. Walimbe
Section 143(3)Section 50C(1)Section 56Section 56(2)(vii)

…आयकर अपीऱीय अधिकरण “ए” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE BEFORE SHRI S.S.GODARA, JM AND SHRI DR. DIPAK P. RIPOTE, AM आयकर अपीऱ सं. / ITA No.839/PUN/2018 ननधधारण वषा / Assessment Year : 2014-15 Mrs. Bhavana Shashikant Ghone, CTS No.576, Malati Balwant Apartment, Ramanbaug Chowk, Narayan Peth, Pune- 411 030. .......अपऩलधथी / Appellant PAN : AEVPG4868D बनधम / V/s. ……प्रत्यथी / Respondent ITO, Ward 12(2), Pune Assessee by : Shri M.K. Kulkarni Revenue by : Shri S. P. Walimbe सपनवधई की तधरऩख / Date of Hearing : 07.06.2022 घोषणध की तधरऩख / Date of Pronouncement : 20.06.2022…

Gloster Limited (Formerly Known As Kettlewell Bullen & Co. Ltd. and Successor in Interest of Gloster Ltd.), Kolkata vs. A.C.I.T., Circle-4(1), Kolkata

In the result, appeal of assessee is allowed

ITA 87/KOL/2020[2013-14]Status: DisposedITAT Kolkata13 Jan 2021AY 2013-14

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

Section 37Section 40

…(ii) of the Act. And in this context, the legal maxim “Expressio Unius Est Exclusio Alterius” comes into play which means Express mention of one implies the exclusion of another. [Refer decision of Hon’ble Supreme Court in G V K Industries ltd. Vs. ITO (2011) 4 SCC 36. (Constitution Bench)] In the case of Ethiopian Airlines Vs. Ganesh Narain Saboo (2011) 8 SCC 539(S) the Hon’ble Supreme Court held that Express application of certain provisions of a statute (CPC in that case) to other (Consumer Protection Act in that case) are intentionally excluded from applicability to later statute. 15. From the aforesaid disc…

Noida Cyber Park Pvt Ltd, New Delhi vs. ITO Ward - 18(4), New Delhi

In the result, the appeal of the assessee is allowed as above

ITA 165/DEL/2020[2015-16]Status: DisposedITAT Delhi12 Oct 2020AY 2015-16

Bench: Shri G.S. Pannu & Shri Sudhanshu Srivastavaay : 2015-16

For Appellant: Shri V.K. Aggarwal, ARFor Respondent: Ms Banita M. Biswas C.I.T. DR
Section 115JSection 142Section 143(3)Section 50Section 50CSection 50C(2)

…nd or building’. Therefore, the express use of one expression would exclude the other, a legal premise which is supported by the judgment of Hon'ble Supreme Court in the case of GVK 10 ITA 165/Del/2020 Assessment year 2015-16 Industries Ltd. Vs. ITO – (2011) 4 SCC 36 (SC). In this view of the matter, in our considered opinion, the point sought to be raised by the assessee deserves to be upheld. Such a distinction also has found approval of the Hon’ble Bombay High Court in the case of C.I.T. vs Greenfield Hotels & Estates Pvt. Ltd. (supra) and other Tribunal decisions which have been referred to in the earlier…

Ritz Suppliers Pvt. Ltd., Kolkata vs. ITO, Ward- 12(3), Kolkata

In the result, appeal of the assessee is allowed

ITA 1945/KOL/2019[2016-17]Status: DisposedITAT Kolkata17 Jan 2020AY 2016-17

Bench: Shri A. T. Varkey, Jm]

Section 143(3)Section 250Section 48Section 50C

…building' on one hand and 'or any rights in land or building' on the other. Here it is apt to apply the legal maxim Expressio Unius Est Exclusio Alterius meaning Express mention of one implies the exclusion of another. [G.V.K. Industries Ltd. vs. ITO, (2011) 4 SCC 36. Hon’ble Supreme Court 5 Member 9 I.T.A. No. 1945/Kol/2019 Assessment Year: 2016-17 Ritz Suppliers Pvt. Ltd. Constitution Bench] Considering the fact that we are dealing with special provision for full value of consideration in certain cases u/s.50C of the Act, which is a deeming provision, the fiction created in this section cannot be extended to…

ITO, WD-2(1), Kolkata vs. M/S Rajshree Vanijya Pvt. Ltd., Kolkata

In the result, the appeal of Revenue is dismissed

ITA 1000/KOL/2015[2007-2008]Status: DisposedITAT Kolkata29 Nov 2017AY 2007-2008

Bench: Shri A. T. Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1000/Kol/2015 (िनधा"रणवष" / Assessment Year: 2010-11 Vs. M/S Rajshree Vanijya Pvt. I.T.O, Ward-2(1), Kolkata Ltd. 7, Ganesh Chandra Avenue,Kolkata-13 "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Aabcr 2400 B (Assessee) .. (Respondent) Assessee By :Shri Kalyan Nath, Acit Dr Respondent By :Shri Subash Agarwal, Advocate सुनवाईकीतारीख/ Date Of Hearing : 06/09/2017 घोषणाकीतारीख/Date Of Pronouncement : 29/11/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Appeal Filed By The Revenue, Pertaining To Assessment Year 2010-11, Is Directed Against The Order Passed By The Ld. Commissioner Of Income Tax(Appeals)–1, Kolkata, In Appeal No.92/Cit(A)-1/W-2(1)/2013-14, Dated 25.03.2015, Which In Turn Arises Out Of An Order Passed By The Assessing Officer U/S.143(3) Of The Income Tax Act 1961 (Hereinafter Referred To As The ‘Act’) Dated 12.03.2013. 2. The Revenue Has Raised The Following Grounds Of Appeal: “1. That On The Facts & Circumstances Of The Case, The Ld. Cit(A)-1, Kolkata, Had Erred In Allowing Relief Against The Disallowance Interest On Borrowed Fund Of Rs.56,66,773/- Which Is Not Utilized For The Assessee’S Business Purpose. 2. That Tax Effect In The Instant Case Is Also Much Above The Monetary Limit As Prescribed Vide Cbdt’S Instruction No.3/2011 & Instruction No.5/2014 For Filing Of Appeal Before Ld. Itat, Kolkata. 3. That The Assessee Craves Leave To Amend, Modify Or Alter Any Grounds Of Appeal During The Course Of Hearing Of This Case.” 4. The Brief Facts Qua The Issue Are That The Assessee Company Is A Trader Of Textile Machines, Scrap, Iron & Steel & Yarn. During The Financial Year 2009- 10, As Per The Profit &Loss A/C, The Assessee Made A Sale Of Rs.178,45,97,471/-

For Appellant: Shri Kalyan Nath, ACIT DRFor Respondent: Shri Subash Agarwal, Advocate
Section 143(3)

…ng interest free advance. Reliance was placed by the assessee on the decisions of the Hon'ble Supreme Court in the case of M/s. S.A. Builders Ltd. Vs. CIT(2007) 288 ITR 1 (SC), and Hon'ble Calcutta High Court in the case of J. K. Industries Ltd. Vs. CIT(2011) 61 DTR 153. M/s Rajshree Vanijya Pvt. Ltd. Assessment Year: 2010-11 However, the AO ignored the submissions of the assessee and stated that the quantum of interest paid on borrowed capital which was utilized in providing loan to M/s NLBD Marketing Pvt Ltd. and M/s Phool Commercial Pvt. Ltd, is Rs. 71,52,144/-. Therefore, the interest debited in the profit an…

M/s. Kamma Sangaham vs. The Director of Income -Tax (Exemptions)

ITTA/19/2013HC Telangana19 Jun 2013
Industries Ltd. v. ITO (4 SCC 36) — Cited in 16 Judgments | BharatTax