ITO v. Novel Consumer Products (P) Ltd.

7 SOT 615Income Tax Appellate Tribunal2006#25515 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 348,356 Indian tax judgments — from 2019 to 2024.

Judgments citing ITO v. Novel Consumer Products (P) Ltd.

DCIT Circle 1(1), Pune, Swargate vs. Entrata India Pvt. Ltd, Pune

In the result, the appeal filed by the Revenue in ITA

ITA 66/PUN/2024[2013-14]Status: DisposedITAT Pune24 Dec 2024AY 2013-14

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.133/Pun/2024 िनधा"रण वष" / Assessment Year: 2013-14 Entrata India Pvt. Ltd., Vs. Dcit, Circle-1(1), Pune. International Tech Park, Block-1, Wing-A, 14Th Floor, Kharadi, Pune- 411014. Pan : Aaacw7089A Appellant Respondent आयकर अपील सं. / Ita No.66/Pun/2024 िनधा"रण वष" / Assessment Year: 2013-14 Dcit, Circle-1(1), Pune. Vs. Entrata India Pvt. Ltd., International Tech Park, Block-1, Wing-A, 14Th Floor, Kharadi, Pune- 411014. Pan : Aaacw7089A Appellant Respondent Assessee By : Shri Kishor B. Phadke Revenue By : Shri Ramnath P. Murkunde Date Of Hearing 14.11.2024 : Date Of Pronouncement : 24.12.2024 आदेश / Order Per Vinay Bhamore, Jm: These Are The Cross Appeals Filed By The Assessee As Well As By The Revenue Are Directed Against The Order Dated 24.11.2023 Passed By Ld. Cit(A)-13, Pune [‘Cit(A)’] For The Assessment Year 2013-14. 2. First, We Shall Take Up The Appeal Of The Assessee In Ita No.133/Pun/2024 For Adjudication.

For Appellant: Shri Kishor B. PhadkeFor Respondent: Shri Ramnath P. Murkunde
Section 10ASection 115JSection 143(2)Section 143(3)Section 32

…usiness, so arranged as to result in inflated profit provisions of section 10I(9) could not be to reduce the deduction under the provisions of section 10A. We also found that ITAT Mumbai ‘D’ Bench in the case of ITO Vs. Novel Consumer Products (P) Ltd. (2006) 7 SOT 615 (Mumbai), wherein the Bench held that in the absence of any efforts by the Assessing Officer to ascertain the exact profit rate from comparable case, sub-section of section 80IA, has not justified. We also found that ITAT, Chennai ‘A’ Bench in the case of Tweezerman (India) (P) Ltd. Vs. Addl. CIT (2010) 133 TTJ (Chennai) 308, held that the Assessin…

Entrata India Pvt. Ltd., Pune vs. DCIT, Circle-1(1), Pune

In the result, the appeal filed by the Revenue in ITA

ITA 133/PUN/2024[2013-14]Status: DisposedITAT Pune24 Dec 2024AY 2013-14

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.133/Pun/2024 िनधा"रण वष" / Assessment Year: 2013-14 Entrata India Pvt. Ltd., Vs. Dcit, Circle-1(1), Pune. International Tech Park, Block-1, Wing-A, 14Th Floor, Kharadi, Pune- 411014. Pan : Aaacw7089A Appellant Respondent आयकर अपील सं. / Ita No.66/Pun/2024 िनधा"रण वष" / Assessment Year: 2013-14 Dcit, Circle-1(1), Pune. Vs. Entrata India Pvt. Ltd., International Tech Park, Block-1, Wing-A, 14Th Floor, Kharadi, Pune- 411014. Pan : Aaacw7089A Appellant Respondent Assessee By : Shri Kishor B. Phadke Revenue By : Shri Ramnath P. Murkunde Date Of Hearing 14.11.2024 : Date Of Pronouncement : 24.12.2024 आदेश / Order Per Vinay Bhamore, Jm: These Are The Cross Appeals Filed By The Assessee As Well As By The Revenue Are Directed Against The Order Dated 24.11.2023 Passed By Ld. Cit(A)-13, Pune [‘Cit(A)’] For The Assessment Year 2013-14. 2. First, We Shall Take Up The Appeal Of The Assessee In Ita No.133/Pun/2024 For Adjudication.

For Appellant: Shri Kishor B. PhadkeFor Respondent: Shri Ramnath P. Murkunde
Section 10ASection 115JSection 143(2)Section 143(3)Section 32

…usiness, so arranged as to result in inflated profit provisions of section 10I(9) could not be to reduce the deduction under the provisions of section 10A. We also found that ITAT Mumbai ‘D’ Bench in the case of ITO Vs. Novel Consumer Products (P) Ltd. (2006) 7 SOT 615 (Mumbai), wherein the Bench held that in the absence of any efforts by the Assessing Officer to ascertain the exact profit rate from comparable case, sub-section of section 80IA, has not justified. We also found that ITAT, Chennai ‘A’ Bench in the case of Tweezerman (India) (P) Ltd. Vs. Addl. CIT (2010) 133 TTJ (Chennai) 308, held that the Assessin…

Asst CIT 15(3)(1), Mumbai vs. Zydus Nycomed Healthcare P. Ltd, Navi Mumbai

In the result, appeal filed by the revenue is hereby dismissed

ITA 3336/MUM/2016[2009-10]Status: DisposedITAT Mumbai28 Aug 2019AY 2009-10

Bench: Shri M. Balaganesh, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. Nos.3336/Mum/2016 (निर्धारण वर्ा / Assessment Years: 2009-10) Acit 15(3)(1) बिधम/ M/S. Zydus Nycomed Room No.451, 4Th Floor, Healthcare Pvt. Ltd. Vs. C-4 Mid, Vill. Pawane, Aaykar Bhavan, Maharshi Thane Belapur Road, Vashi, Karve Road, Mumbai- Navi Mumbai-400705. 400020. आयकर अपील सं/ I.T.A. Nos.4670/Mum/2016 (निर्धारण वर्ा / Assessment Years: 2011-12) बिधम/ Dcit-15(3)(1) M/S. Zydus Nycomed Room No. 451, 4Th Floor, Healthcare Pvt. Ltd. Vs. C-4 Mid, Vill. Pawane, Aayakar Bhavan,Maharshi Thane Belapur Road, Vashi, Karve Road, Mumbai- Navi Mumbai-400705. 400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacz0736D (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Manjunatha Swamy (Dr) Assessee By: Shri B. V. Jhaveri (Ar) सुनवाई की तारीख / Date Of Hearing: 01/08/2019 घोषणा की तारीख /Date Of Pronouncement: 28/08/2019 आदेश / O R D E R Per Amarjit Singh (Jm): The Revenue Has Filed The Above Mentioned Appeals Against The Different Order Passed By The Commissioner Of Income Tax (Appeals)-24, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Ys. 2009- 10 & 2011-12. I.T.A. Nos.3336/Mum/2016 4670/Mum/2016 A.Y. 2009-10 & 2011-12

For Appellant: Shri B. V. Jhaveri (AR)For Respondent: Shri Manjunatha Swamy (DR)
Section 10BSection 115JSection 143(1)Section 143(2)Section 80ISection 92C

…ed that all these aspects were taken into account at length in the appellate orders for A.Ys. 2003-04 to 2005-06. 2.4.17 The appellant further relied on the decision of Hon'ble Mumbai Bench of ITAT in the case of ITO v. Novel Consumer Products (P) Ltd. (2006) 7 SOT 615 (Mum). Even in that case, the AO had invoked the provisions of sub-section (10) of section 80-IA and adopted the profit of assessee's business at the rate of 22.5% as the assessee in that case was selling almost its entire production to a proprietary concern of one of the directors of the assessee company. The AO in that case found that the assesse…

ITO v. Novel Consumer Products (P) Ltd. (7 SOT 615) — Cited in 3 Judgments | BharatTax