Inventurus Knowledge Services Private Limited v. ITO

156 ITD 727Income Tax Appellate Tribunal2016#13493 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2020.

Judgments citing Inventurus Knowledge Services Private Limited v. ITO

Rampuria Industries & Investments Ltd., Kolkata vs. Principal CIT, Central - 1, Kolkata

In the result, appeal of the assessee is allowed

ITA 651/KOL/2018[2013-14]Status: DisposedITAT Kolkata26 Feb 2020AY 2013-14
Section 143(3)Section 2Section 263Section 43(5)(d)

…e case of 'Inventures Knowledge Services (P) 277) and in the case of 'Inventures Knowledge Services (P) Ltd.' (APB 317 -341). 25. In the case of Inventures Knowledge Services (P.) Ltd. v. ITO In the case of Inventures Knowledge Services (P.) Ltd. v. ITO[2016] 156 ITD 727/65 [2016] 156 ITD 727/65 taxmann.com 94 (Mumbai 94 (Mumbai - Trib.) , both the issues, i.e., applicability of clause (d) of the , both the issues, i.e., applicability of clause (d) of the proviso to section 43(5) and the notional loss in respect of unexpired / unsettled proviso to section 43(5) and the notional loss in respect of unexpired / unse…

Tata Consultancy Services Limited, Mumbai vs. Commissioner of Income Tax - Large Taxpayer'S Unit, Mumbai

In the result, appeal of the assessee in ITA no

ITA 2794/MUM/2018[2011-12]Status: DisposedITAT Mumbai18 Apr 2019AY 2011-12

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.2794/Mum/2018 (नििाारण वर्ा / Assessment Year: 2011-12) Tata Consultancy Services बिाम/ The Commissioner Of Ltd., Income Tax-Large Tax 9Th Floor, Nirmal Building, Payer‟S Unit, V. Nariman Point, 29Th Floor, Centre One Mumbai- 400021 World Trade Centre, Cuffe Parade, Mumbai-400 005 स्थायी ऱेखा सं./ Pan: Aaacr4849R (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri. R. R. Vora & Shri. Nikhil Tiwari Revenue By: Shri. R. Manjunatha Swamy (Cit-Dr) सुनवाई की तारीख /Date Of Hearing : 29.01.2019 घोषणा की तारीख /Date Of Pronouncement : 18.04.2019

For Appellant: Shri. R. R. Vora &For Respondent: Shri. R. Manjunatha Swamy
Section 143(3)Section 234BSection 263Section 263(1)

…rather an ascertained liability which had crystallized on the reporting date which could be computed with reasonable accuracy and certainty . The decision of ITAT , Mumbai in the case on Inventurus Knowledge Services Private Limited v. ITO reported in (2016) 156 ITD 727(Mum.-trib.) to which one of us being Accountant Member being part of Division Bench, is relevant. The decision of Hon‟ble Supreme Court in the case of CIT v. Woodward Governor India Private Limited(supra) had also held that AS-11 is mandatory in nature and gains or losses on reported date are to be included while computing income by holding as un…

DCIT 4(2)(1), Mumbai vs. Sps Share Brokers P.Ltd, Mumbai

In the result Revenue fails in this appeal

ITA 139/MUM/2016[2012-13]Status: DisposedITAT Mumbai27 Jul 2018AY 2012-13

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Appellant: Shri. Kiran M. PancholiFor Respondent: Shri V. Justin
Section 12Section 143(3)Section 2Section 228Section 233Section 43(5)

…erentiate between the foreign currency perse and foreign currency derivative wherein the foreign currency is an underline security. Reference is drawn to the decision of ITAT-Mumbai in the case of Inventurus Knowledge Services P. Ltd v. ITO reported in (2016) 156 ITD 727(Mumbai), wherein the relevant portion of the tribunal order is reproduced here under:- “8. We have heard the rival submissions and carefully perused the relevant material on record and case laws relied upon by the parties. We have observed that the assessee company is a domestic company registered with the Development Commissioner, Vishakhapatnam…

Investrick Securities P (I) P.Ltd, Mumbai vs. ITO 2(2)(1), Mumbai

In the result, appeals of the assessee in ITA No

ITA 539/MUM/2013[2008-09]Status: DisposedITAT Mumbai24 Feb 2017AY 2008-09

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.538/Mum/2013 ("नधा"रण वष" / Assessment Year : 2007-08) आयकर अपील सं./I.T.A. No.539/Mum/2013 ("नधा"रण वष" / Assessment Year : 2008-09) Investrick Securities (India) Dy. Commissioner Of बनाम/ Pvt. Ltd., Income Tax 2(2), V. 608, Dalamal House, Aayakar Bhavan, Nariman Point, M.K. Marg, Mumbai – 400 021. Mumbai - 400020. "थायी लेखा सं./Pan : Aaaci5005J (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

For Appellant: NoneFor Respondent: Mr. SaurabhKumar Rai, DR
Section 10(34)Section 143(3)Section 14A

…y the assessee shall be allowed arising due to adverse movement of share prices on the last date of previous year. Reference may be drawn to the decision of the Mumbai benches of the tribunal in the case of Inventurus Knowledge Services (P.) Ltd. v. ITO (2016)156 ITD 727(Mum.-trib), wherein the tribunal allowed marked to market losses by holding as under: “9. Thus in view of our above foregoing discussions, we allow the appeal of the assessee company on following reasons:— 1. That the assessee company has entered into derivative transactions in foreign currency through recognised stock exchange and has complied…

Investrick Securities P (I) P.Ltd, Mumbai vs. DCIT 2(2), Mumbai

In the result, appeals of the assessee in ITA No

ITA 538/MUM/2013[2007-08]Status: DisposedITAT Mumbai24 Feb 2017AY 2007-08

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.538/Mum/2013 ("नधा"रण वष" / Assessment Year : 2007-08) आयकर अपील सं./I.T.A. No.539/Mum/2013 ("नधा"रण वष" / Assessment Year : 2008-09) Investrick Securities (India) Dy. Commissioner Of बनाम/ Pvt. Ltd., Income Tax 2(2), V. 608, Dalamal House, Aayakar Bhavan, Nariman Point, M.K. Marg, Mumbai – 400 021. Mumbai - 400020. "थायी लेखा सं./Pan : Aaaci5005J (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

For Appellant: NoneFor Respondent: Mr. SaurabhKumar Rai, DR
Section 10(34)Section 143(3)Section 14A

…y the assessee shall be allowed arising due to adverse movement of share prices on the last date of previous year. Reference may be drawn to the decision of the Mumbai benches of the tribunal in the case of Inventurus Knowledge Services (P.) Ltd. v. ITO (2016)156 ITD 727(Mum.-trib), wherein the tribunal allowed marked to market losses by holding as under: “9. Thus in view of our above foregoing discussions, we allow the appeal of the assessee company on following reasons:— 1. That the assessee company has entered into derivative transactions in foreign currency through recognised stock exchange and has complied…

JCIT 16(3), Mumbai vs. Shree Ramkrishna Export, Mumbai

In the result, the appeal filed by the assessee in ITA No

ITA 112/MUM/2013[2009-10]Status: DisposedITAT Mumbai07 Nov 2016AY 2009-10

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 7311/Mum/2012 ("नधा"रण वष" / Assessment Year : 2009-10) M/S Shree Ramkrishna The Jt. Commissioner Of बनाम/ Exports Pvt. Ltd., Income Tax – 16(3), V. (Earlier Shree Ramkrishna Matru Mandir, Exports) Mumbai – 400 007. Ee 6011, Bharat Diamond Bourse, G Block, Bandra-Kurla Complex, Bandra East, Mumbai – 400 005. "थायी लेखा सं./Pan : Earlier Pan Aaafs6758D (Now Pan Aarcs2442Q) .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

For Respondent: Shri Manjunatha Swamy
Section 143(2)Section 143(3)

…आयकर अपील"य अ"धकरण “E” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI C.N. PRASAD, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. No. 7311/Mum/2012 ("नधा"रण वष" / Assessment Year : 2009-10) M/s Shree Ramkrishna The Jt. Commissioner of बनाम/ Exports Pvt. Ltd., Income Tax – 16(3), v. (earlier Shree Ramkrishna Matru Mandir, Exports) Mumbai – 400 007. EE 6011, Bharat Diamond Bourse, G Block, Bandra-Kurla Complex, Bandra East, Mumbai – 400 005. "थायी लेखा सं./PAN : Earlier PAN AAAFS6758D (now PAN AARCS2442Q) .. (अपीलाथ" /Appellant) (""यथ" / Responde…

Shree Ramkrishna Export, Mumbai vs. Jtcit 16(3), Mumbai

In the result, the appeal filed by the assessee in ITA No

ITA 7311/MUM/2012[2009-10]Status: DisposedITAT Mumbai07 Nov 2016AY 2009-10

Bench: Shri C.N. Prasad & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 7311/Mum/2012 ("नधा"रण वष" / Assessment Year : 2009-10) M/S Shree Ramkrishna The Jt. Commissioner Of बनाम/ Exports Pvt. Ltd., Income Tax – 16(3), V. (Earlier Shree Ramkrishna Matru Mandir, Exports) Mumbai – 400 007. Ee 6011, Bharat Diamond Bourse, G Block, Bandra-Kurla Complex, Bandra East, Mumbai – 400 005. "थायी लेखा सं./Pan : Earlier Pan Aaafs6758D (Now Pan Aarcs2442Q) .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

For Respondent: Shri Manjunatha Swamy
Section 143(2)Section 143(3)

…आयकर अपील"य अ"धकरण “E” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI C.N. PRASAD, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. No. 7311/Mum/2012 ("नधा"रण वष" / Assessment Year : 2009-10) M/s Shree Ramkrishna The Jt. Commissioner of बनाम/ Exports Pvt. Ltd., Income Tax – 16(3), v. (earlier Shree Ramkrishna Matru Mandir, Exports) Mumbai – 400 007. EE 6011, Bharat Diamond Bourse, G Block, Bandra-Kurla Complex, Bandra East, Mumbai – 400 005. "थायी लेखा सं./PAN : Earlier PAN AAAFS6758D (now PAN AARCS2442Q) .. (अपीलाथ" /Appellant) (""यथ" / Responde…

Inventurus Knowledge Services Private Limited v. ITO (156 ITD 727) — Cited in 7 Judgments | BharatTax