Investment Ltd. v. CIT

77 ITR 533Supreme Court of India1970#1348 most cited

What is Investment Ltd. v. CIT authority for?

The principle of valuing closing stock at cost or market value, whichever is lower, is a recognized and acceptable method of accounting.

85

judgments rely on this decision, according to BharatTax’s citation analysis of 366,418 Indian tax judgments — from 2015 to 2026.

Also referred to as

Investment Ltd. v. CIT · 77 ITR 533 · Section 145 · closing stock valuation · stock valuation method · cost or market value lower · recognized accounting practice · acceptable method of valuation · accounting policy · business income

Also reported as

2011 SCC OnLine DEL 4855

Sections most often in play

Section 14ASection 143(3)Section 37(1)Section 43BSection 131Section 132(4)Section 142(1)Section 145

Issues it is cited on

section 3asection 120(4)(b)section 4asection 36(1)(v)section 10(20)section 61section 46section 269uasection 40a(7)section 2(47)(v)section 14a disallowancesection 145(1)

Judgments citing Investment Ltd. v. CIT

Visakhapatnam Port Authority, Visakhapatnam vs. The ACIT, Visakhapatnam

In the result, CO raised by the assessee is disposed off as discussed herein above

ITA 396/VIZ/2014[2010-11]Status: DisposedITAT Visakhapatnam27 Sept 2023AY 2010-11

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

…s in accordance with the accounting policy and also complying with the provisions of section 145 of the Act. On this issue, the Ld. AR relied on the following case laws: (i) CIT vs. McMillan & Co. [1958] 33 ITR 182 (SC). (ii) Investment Ltd vs. CIT [1970] 77 ITR 533 (SC) (iii) MKB Asia (P.) Ltd vs. CIT [2008] 167 Taxman 256 (Gau.) 35 (iv) JuggilalKamlaat Bankers vs. CIT [1975] 101 ITR 40 (All.) (v) CIT vs. Smt. Vimala D. Sonwand [1994] 75 Taxman 335 (Bom.) 32. The Ld. AR further submitted that the assessee can cancel the agreement and reassume the possession of the land by giving six months prior notice,…

Visakhapatnam Port Authority, Visakhapatnam vs. The ACIT, Circle - 1(1), Visakhapatnam

In the result, CO raised by the assessee is disposed off as discussed herein above

ITA 26/VIZ/2014[2011-12]Status: DisposedITAT Visakhapatnam27 Sept 2023AY 2011-12

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

…s in accordance with the accounting policy and also complying with the provisions of section 145 of the Act. On this issue, the Ld. AR relied on the following case laws: (i) CIT vs. McMillan & Co. [1958] 33 ITR 182 (SC). (ii) Investment Ltd vs. CIT [1970] 77 ITR 533 (SC) (iii) MKB Asia (P.) Ltd vs. CIT [2008] 167 Taxman 256 (Gau.) 35 (iv) JuggilalKamlaat Bankers vs. CIT [1975] 101 ITR 40 (All.) (v) CIT vs. Smt. Vimala D. Sonwand [1994] 75 Taxman 335 (Bom.) 32. The Ld. AR further submitted that the assessee can cancel the agreement and reassume the possession of the land by giving six months prior notice,…

Visakhapatnam Port Authority, Visakhapatnam vs. The Addl. CIT., Visakhapatnam

In the result, CO raised by the assessee is disposed off as discussed herein above

ITA 25/VIZ/2014[2010-11]Status: DisposedITAT Visakhapatnam27 Sept 2023AY 2010-11

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.25/Viz/2014 ("नधा"रणवष"/ Assessment Year :2010-11) Visakhapatnam Port Authority, Vs. Addl. Cit, (Formerly Known As M/S. Range-1, Visakhapatnam Port Trust) Visakhapatnam. Visakhapatnam. Pan: Aaalv0035C (अपीलाथ"/ Appellant) (""यथ"/ Respondent)

…s in accordance with the accounting policy and also complying with the provisions of section 145 of the Act. On this issue, the Ld. AR relied on the following case laws: (i) CIT vs. McMillan & Co. [1958] 33 ITR 182 (SC). (ii) Investment Ltd vs. CIT [1970] 77 ITR 533 (SC) (iii) MKB Asia (P.) Ltd vs. CIT [2008] 167 Taxman 256 (Gau.) 35 (iv) JuggilalKamlaat Bankers vs. CIT [1975] 101 ITR 40 (All.) (v) CIT vs. Smt. Vimala D. Sonwand [1994] 75 Taxman 335 (Bom.) 32. The Ld. AR further submitted that the assessee can cancel the agreement and reassume the possession of the land by giving six months prior notice,…

DCIT, New Delhi vs. M/S. Sahara India Power Corporation Ltd., Pune

In the result, the appeal filed by the revenue for the AY 2005-06 in I

ITA 5067/DEL/2013[2005-06]Status: PendingITAT Delhi28 Apr 2023AY 2005-06

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar Us

For Appellant: Shri Ajay VohraFor Respondent: Shri Kanv Bali

…and 2014-2015, we answer the substantial questions of law against the Revenue and in favour e of the assessee. In the result, the appeals preferred by the Revenue fail and are hereby dismissed.” 60. In the case of Investment Ltd. Vs. CIT reported in (1970) 77 ITR 533 (SC), Hon’ble Supreme Court held as under:- "assessee is free to employ for the purpose of his trade, his own method of keeping accounts, and for that purpose to value his stock-in-trade either at cost or at market price. A method of 47 AND ITA.1155/Del/2009 & ITA.5067/Del/2013 AND C. O. No. 55/Del/2014 Sahara India Power Corporation Ltd., Pune…

Sahara India Power Corporation Ltd, Pune vs. DCIT, New Delhi

In the result, the appeal filed by the revenue for the AY 2005-06 in I

ITA 1155/DEL/2009[2004-05]Status: DisposedITAT Delhi28 Apr 2023AY 2004-05

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar Us

For Appellant: Shri Ajay VohraFor Respondent: Shri Kanv Bali

…and 2014-2015, we answer the substantial questions of law against the Revenue and in favour e of the assessee. In the result, the appeals preferred by the Revenue fail and are hereby dismissed.” 60. In the case of Investment Ltd. Vs. CIT reported in (1970) 77 ITR 533 (SC), Hon’ble Supreme Court held as under:- "assessee is free to employ for the purpose of his trade, his own method of keeping accounts, and for that purpose to value his stock-in-trade either at cost or at market price. A method of 47 AND ITA.1155/Del/2009 & ITA.5067/Del/2013 AND C. O. No. 55/Del/2014 Sahara India Power Corporation Ltd., Pune…

Sahara India Power Corporation Ltd., Pune vs. Assistant Commissioner of Income-Tax

In the result, the appeal filed by the revenue for the AY 2005-06 in I

ITA 109/PUN/2007[2003-04]Status: DisposedITAT Delhi28 Apr 2023AY 2003-04

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar Us

For Appellant: Shri Ajay VohraFor Respondent: Shri Kanv Bali

…and 2014-2015, we answer the substantial questions of law against the Revenue and in favour e of the assessee. In the result, the appeals preferred by the Revenue fail and are hereby dismissed.” 60. In the case of Investment Ltd. Vs. CIT reported in (1970) 77 ITR 533 (SC), Hon’ble Supreme Court held as under:- "assessee is free to employ for the purpose of his trade, his own method of keeping accounts, and for that purpose to value his stock-in-trade either at cost or at market price. A method of 47 AND ITA.1155/Del/2009 & ITA.5067/Del/2013 AND C. O. No. 55/Del/2014 Sahara India Power Corporation Ltd., Pune…

M/S. Trishul Buildtech & Infrastructures Pvt. Ltd., Bengaluru vs. The Deputy Commissioner of Income-Tax, Central Circle-2(2), Bengaluru

In the result, assessee’s appeals are partly allowed

ITA 109/BANG/2022[2018-19]Status: DisposedITAT Bangalore14 Nov 2022AY 2018-19

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri A. Shankar, Senior AdvocateFor Respondent: Shri Manjunath Karkihalli, D.R
Section 250

…2014-2015, we answer the substantial questions of law against the Revenue and in favour of the assessee. In the result, the appeals preferred by the Revenue fail and are hereby dismissed.” 16.18.1 In the case of Investment Ltd. Vs. CIT reported in e (1970) 77 ITR 533 (SC), Hon’ble Supreme Court held as under:- "assessee is free to employ for the purpose of his trade, his own method of keeping accounts, and for that purpose to value his stock-in-trade either at cost or at market price. A method of accounting adopted by the trader consistently and regularly cannot be discarded by departmental authorities on the…

M/S. Trishul Buildtech & Infrastructures Pvt. Ltd., Bengaluru vs. The Deputy Commissioner of Income-Tax, Central Circle-2(2), Bengaluru

In the result, assessee’s appeals are partly allowed

ITA 108/BANG/2022[2017-18]Status: DisposedITAT Bangalore14 Nov 2022AY 2017-18

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri A. Shankar, Senior AdvocateFor Respondent: Shri Manjunath Karkihalli, D.R
Section 250

…2014-2015, we answer the substantial questions of law against the Revenue and in favour of the assessee. In the result, the appeals preferred by the Revenue fail and are hereby dismissed.” 16.18.1 In the case of Investment Ltd. Vs. CIT reported in e (1970) 77 ITR 533 (SC), Hon’ble Supreme Court held as under:- "assessee is free to employ for the purpose of his trade, his own method of keeping accounts, and for that purpose to value his stock-in-trade either at cost or at market price. A method of accounting adopted by the trader consistently and regularly cannot be discarded by departmental authorities on the…

M/S. Trishul Buildtech & Infrastructures Pvt. Ltd., Bengaluru vs. The Deputy Commissioner of Income-Tax, Central Circle-2(2), Bengaluru

In the result, assessee’s appeals are partly allowed

ITA 107/BANG/2022[2016-17]Status: DisposedITAT Bangalore14 Nov 2022AY 2016-17

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri A. Shankar, Senior AdvocateFor Respondent: Shri Manjunath Karkihalli, D.R
Section 250

…2014-2015, we answer the substantial questions of law against the Revenue and in favour of the assessee. In the result, the appeals preferred by the Revenue fail and are hereby dismissed.” 16.18.1 In the case of Investment Ltd. Vs. CIT reported in e (1970) 77 ITR 533 (SC), Hon’ble Supreme Court held as under:- "assessee is free to employ for the purpose of his trade, his own method of keeping accounts, and for that purpose to value his stock-in-trade either at cost or at market price. A method of accounting adopted by the trader consistently and regularly cannot be discarded by departmental authorities on the…

ITO-33(1)(2), Mumbai vs. Shri Vikram Baijnath Agarwal, Mumbai

In the result, appeal filed by the revenue is partly allowed and cross objection filed by the assessee is dismissed

ITA 103/MUM/2021[2014-15]Status: DisposedITAT Mumbai07 Nov 2022AY 2014-15

Bench: Shri Vikas Awasthy, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleincome Tax Officer – 33(1)(2) V. Shri Vikrambaijnath Agarwal Room No. 945, 9Th Floor 2003/04, Birchwood Raheja Villows Kautilya Bhavan, Bandra Kurla Complex Lokhandwala Township Nr Mahindra Gate 4 Kandivali (E), Mumbai - 400101 Bandra(E), Mumbai - 400051 Pan: Adepa8582C Appellant Respondent

Section 142Section 143(1)Section 143(2)

…ted a different method of keeping account or of valuation. The method of accounting regularly employed may be discarded only if, in the opinion of the taxing authorities income of the trade cannot be properly deduced there from - Investment Ltd. v. CIT [1970] 77 ITR 533 (SC). In case of accounting system regularly followed Accounting method followed by an assessee continuously for a given period of time needs to be presumed to be correct till Assessing Officer comes to conclusion for reasons to be given that said system does not reflect true and correct profits - CIT v. Woodward Governor India (P.) Ltd. [2009] 17…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 544/BANG/2021[2016-17]Status: DisposedITAT Bangalore07 Nov 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…he result, the appeals preferred by the Revenue fail and are hereby dismissed.” ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore Page 66 of 96 8.20 In the case of Investment Ltd. Vs. CIT reported in (1970) 77 ITR 533 (SC), Hon’ble Supreme Court held as under:- "assessee is free to employ for the purpose of his trade, his own method of keeping accounts, and for that purpose to value his stock-in-trade either at cost or at market price. A method of accounting adopted by the trader consistently and regularly cannot be discarded by departmental authorities on the…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 543/BANG/2021[2015-16]Status: DisposedITAT Bangalore07 Nov 2022AY 2015-16

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…he result, the appeals preferred by the Revenue fail and are hereby dismissed.” ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore Page 66 of 96 8.20 In the case of Investment Ltd. Vs. CIT reported in (1970) 77 ITR 533 (SC), Hon’ble Supreme Court held as under:- "assessee is free to employ for the purpose of his trade, his own method of keeping accounts, and for that purpose to value his stock-in-trade either at cost or at market price. A method of accounting adopted by the trader consistently and regularly cannot be discarded by departmental authorities on the…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 542/BANG/2021[2014-15]Status: DisposedITAT Bangalore07 Nov 2022AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…he result, the appeals preferred by the Revenue fail and are hereby dismissed.” ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore Page 66 of 96 8.20 In the case of Investment Ltd. Vs. CIT reported in (1970) 77 ITR 533 (SC), Hon’ble Supreme Court held as under:- "assessee is free to employ for the purpose of his trade, his own method of keeping accounts, and for that purpose to value his stock-in-trade either at cost or at market price. A method of accounting adopted by the trader consistently and regularly cannot be discarded by departmental authorities on the…

Cd Equifinance Private Ltd., Kolkata vs. PCIT-1, Kolkata

In the result, the appeal filed by the assessee is allowed

ITA 164/KOL/2022[2017-18]Status: DisposedITAT Kolkata01 Nov 2022AY 2017-18

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(2)Section 143(3)Section 263

…ancial statements for FY 2021-22 evidencing that the recoveries/receipt upon completion of insolvency proceedings was credited in the P&L A/c and offered to tax in that relevant year. 7. Chainrup Sampatram Vs. CIT (24 ITR 481) [SC] 8. Investment Ltd. Vs. CIT (77 ITR 533) [SC] 9. CIT Vs. British Paints India Ltd. (54 Taxman 499) [SC] 10. United Commercial Bank Vs. CIT (106 Taxman 601) [SC] 11. CIT Vs. J L Morrison & Co Ltd (46 taxmann.com 215) [Cal HC] 12. Adani Wilmar Ltd Vs. DCIT (81 taxmann.com 459) [ITAT Ahd] 13. Britannia Industries Ltd. Vs. PCIT (ITA No. 150/Kol/2021) [ITAT Kol] 8. Per contra ld. D/R vehemen…

Seshasayee Paper and Boards Ltd., Erode vs. DCIT Namakkal Circle, Namakkal

In the result, the appeal filed by the assessee is partly allowed

ITA 2835/CHNY/2017[2003-04]Status: DisposedITAT Chennai22 Jul 2022AY 2003-04

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri P. Sajit Kumar, JCIT
Section 143(3)Section 243Section 244Section 244A

…आयकर अपीलीय अिधकरण, ‘सी’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी महावीर "संह, उपा"य" एवं "ी मनोज कुमार अ"वाल, लेखा सद"य के सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 2835/CHNY/2017 िनधा"रण वष" /Assessment Year: 2003 - 04 Seshasayee Paper and The JCIT, Boards Ltd., vs. Central Circle –II(1), Pallipalayam, Cauvery R.S.P.O. Chennai. Erode – 638 007. (presently, DCIT, Namakkal Circle, Namakkal) PAN: AACCS 1192G (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri G. Baskar, Advocate "…

Atul Limited, Ahmedabad vs. The ACIT., Range-1, Ahmedabad

Appeal is dismissed

ITA 1681/AHD/2011[2005-06]Status: DisposedITAT Ahmedabad23 Feb 2022AY 2005-06
For Appellant: Shri Bandish Soparkar, A.RFor Respondent: Shri Mohd Usman, CIT/DR
Section 250(6)Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH (Conducted Through Virtual Court) Before: Ms. Annapurna Gupta, Accountant Member And Ms. Madhumita Roy, Judicial Member Assessment Year 2005-06 Atul Limited 3rd Floor, ACIT, Range-1, Ashoka Chambers, Rasala Ahmedabad Marg, Ellisbridge, Vs (Respondent) Ahmedabad-390 009 PAN: AABCA 2390M (Appellant) Appellant by : Shri Bandish Soparkar, A.R. Respondent by : Shri Mohd Usman, CIT/DR Date of hearing : 16-12-2021 Date of pronouncement : 23-02-2022 आदेश/ORDER PER : ANNAPURNA GUPTA, ACCOUNTANT MEMBER:- The present appeal has been filed by the Assessee a…

The Shri Bajrang Alloys Ltd., Raipur (Cg) vs. The Dy. Commissioner of Income Tax 1(2), Raipur (Cg)

The appeal of the assessee is allowed in terms of our aforesaid observations

ITA 174/BIL/2016[2012-13]Status: DisposedITAT Raipur21 Feb 2022AY 2012-13

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 174/Rpr/2016 "नधा"रण वष" / Assessment Year : 2012-13 Shri Bajrang Alloys Limited 521/Cit(A), Industrial Area, Urla, Raipur (C.G) Pan : Aaecs9218D .......अपीलाथ" / Appellant बनाम / V/S.

For Appellant: Shri Amit M Jain, A.RFor Respondent: Shri G.N Singh, D.R
Section 143(2)Section 143(3)Section 14A

…आयकर अपील"य अ"धकरण "यायपीठ रायपुर म"। IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, RAIPUR (Through Virtual Court at Pune) BEFORE SHRI RAVISH SOOD, JUDICIAL MEMBER AND SHRI JAMLAPPA D BATTULL, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No. 174/RPR/2016 "नधा"रण वष" / Assessment Year : 2012-13 Shri Bajrang Alloys Limited 521/CIT(A), Industrial Area, Urla, Raipur (C.G) PAN : AAECS9218D .......अपीलाथ" / Appellant बनाम / V/s. The Deputy Commissioner of Income Tax 1(2), Raipur. ……""यथ" / Respondent Assessee by : Shri Amit M Jain, A.R Revenue by : Shri G.N Singh, D.R सुनवाई क" तार"ख / Date of Hearing : 03.02.2022 घोष…

Kothari Products Ltd., Kanpur vs. Astt. Commissioner of Income Tax, Kanpur

In the result, both the appeals of the assessee stand allowed for statistical purposes

ITA 255/LKW/2015[2009-10]Status: DisposedITAT Lucknow20 Oct 2021AY 2009-10

Bench: Shri A. D. Jain & Shri T. S. Kapoorassessment Year:2009-10 &

Section 14ASection 14A(2)Section 4A

…I.T.A. No.928/Lkw/2014 1 I.T.A. No.255/Lkw/2015 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘A’, LUCKNOW BEFORE SHRI A. D. JAIN, VICE PRESIDENT AND SHRI T. S. KAPOOR, ACCOUNTANT MEMBER Assessment Year:2009-10 & I.T.A. No.928/Lkw/2014 Assessment year:2010-11 M/s Kothari Products Ltd., Vs. A.C.I.T., 24/19, The Mall, Central Circle-1, Kanpur. Kanpur. PAN:AAACK5571F (Appellant) (Respondent) Appellant by Shri Abhinav Mehrotra, Advocate Respondent by Shri Ajay Kumar, D.R. Date of hearing 14/09/2021 Date of pronouncement 20/10/2021 O R D E R PER T. S. KAPOOR, A.M. These two appeals have been filed by the…

Kothari Products Ltd., Kanpur vs. Asstt. Commissioner of Income Tax, Kanpur

In the result, both the appeals of the assessee stand allowed for statistical purposes

ITA 928/LKW/2014[2010-11]Status: DisposedITAT Lucknow20 Oct 2021AY 2010-11

Bench: Shri A. D. Jain & Shri T. S. Kapoorassessment Year:2009-10 &

Section 14ASection 14A(2)Section 4A

…I.T.A. No.928/Lkw/2014 1 I.T.A. No.255/Lkw/2015 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘A’, LUCKNOW BEFORE SHRI A. D. JAIN, VICE PRESIDENT AND SHRI T. S. KAPOOR, ACCOUNTANT MEMBER Assessment Year:2009-10 & I.T.A. No.928/Lkw/2014 Assessment year:2010-11 M/s Kothari Products Ltd., Vs. A.C.I.T., 24/19, The Mall, Central Circle-1, Kanpur. Kanpur. PAN:AAACK5571F (Appellant) (Respondent) Appellant by Shri Abhinav Mehrotra, Advocate Respondent by Shri Ajay Kumar, D.R. Date of hearing 14/09/2021 Date of pronouncement 20/10/2021 O R D E R PER T. S. KAPOOR, A.M. These two appeals have been filed by the…

The South Indian Bank Ltd vs. The Commissioner of Income Tax

C.A. No.-009606-009606 - 2011Supreme Court09 Sept 2021

Bench: HON'BLE MR. JUSTICE HRISHIKESH ROY

Section 14Section 14A

…[REPORTABLE] IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO. 9606 OF 2011 SOUTH INDIAN BANK LTD. APPELLANT(S) VERSUS COMMISSIONER OF INCOME TAX RESPONDENT(S) WITH CIVIL APPEAL NO. OF 2021 [Arising out of SLP(C) No. 32761 OF 2018] CIVIL APPEAL NO. 9609 OF 2011 CIVIL APPEAL NO. 9610 OF 2011 CIVIL APPEAL NO. 9611 OF 2011 CIVIL APPEAL NO. 9615 OF 2011 CIVIL APPEAL NO. 9608 OF 2011 CIVIL APPEAL NO. 9612 OF 2011 CIVIL APPEAL NO. 9614 OF 2011 CIVIL APPEAL NO. 9613 OF 2011 CIVIL APPEAL NO. 9607 OF 2011 Page 1 of 22 Digitally signed by DEEPAK SINGH Date: 2021.09.09 19:20:53 IST Rea…