ITO v. Orson Trading (P) Ltd.

2 SOT 503Income Tax Appellate Tribunal2005#23437 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2019 to 2023.

Judgments citing ITO v. Orson Trading (P) Ltd.

Malco Energy Ltd., Mumbai vs. Asst CIT Circle-10(2)(2), Mumbai

ITA 7314/MUM/2019[2015-16]Status: DisposedITAT Mumbai13 Sept 2023AY 2015-16

Bench: Shri Prashant Maharishi, Am & Shri Kuldip Singh, Jm Asst. Commissioner Of Income-Tax Malco Energy Limited Circle 10(2)(2), Vedanta House, Room No.209, 75, Nehru Road, Ville- 2Nd Floor, Parle, Vs. Mumbai-400 099 Aaykar Bhavan Maharashtra, India Maharishi Karve Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aahcs6896A Assessee By : Ms. Fereshte Sethna, Shri Mrunal Parekh, Ars Revenue By : Shri Manoj Kumar, Cit Dr

For Appellant: Ms. Fereshte SethnaFor Respondent: Shri Manoj Kumar, CIT DR
Section 115J

…IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI KULDIP SINGH, JM Asst. Commissioner of Income-tax Malco Energy Limited Circle 10(2)(2), Vedanta House, Room No.209, 75, Nehru Road, Ville- 2nd Floor, Parle, Vs. Mumbai-400 099 Aaykar Bhavan Maharashtra, India Maharishi Karve Road, Mumbai-400 020 (Appellant) (Respondent) PAN No. AAHCS6896A Assessee by : Ms. Fereshte Sethna, Shri Mrunal Parekh, ARs Revenue by : Shri Manoj Kumar, CIT DR Date of hearing: 16.06.2023 Date of pronouncement : 13.09.2023 R D E R PER PRASHANT MAHARISHI, AM: 1. This appeal is filed by Malc…

DCIT, New Delhi vs. M/S. Quippo Oil & Gas Infra Ltd., New Delhi

Appeal of the revenue is dismissed

ITA 5710/DEL/2014[2008-09]Status: DisposedITAT Delhi03 Apr 2019AY 2008-09

Bench: Shri R. K. Panda & Ms Suchitra Kamblequippo Oil & Gas Infra Ltd. Vs The Additional D-2, 5Th Floor, Southern Park, Commissioner Of Income Saket Place Tax, New Delhi Aaacq1278P Range-14 New Delhi (Appellant) (Respondent) Dcit Vs Quippo Oil & Gas Infra Ltd. Circle-14(1) D-2, 5Th Floor, Southern New Delhi Park, Saket Place New Delhi Aaacq1278P (Appellant) (Respondent)

Section 115JSection 143(3)Section 37Section 43B

…tinize the P&L A/c once it is certified by the statutory auditors of a company and that he can make only those adjustments which are permitted by Explanation to section 115JA(2). Similar view has been taken in the case of ITO vs. Orson Trading (P) Ltd. (2005) 2 SOT 503 (Mum). 14. As regards Ground No. 3 of the assessee’s appeal, the Ld. DR submitted that the Assessing Officer has rightly considered Rs. 30,88,634/- as book profits u/s 115 JB because there is a change in the method of accounting and loss is capital nature. The Ld. DR relied upon the Assessment Order and the order of the CIT(A). 15. We have heard…

M/S. Quippo Oil & Gas Infrastructure Ltd., Gurgaon vs. Addl.CIT, New Delhi

Appeal of the revenue is dismissed

ITA 5634/DEL/2014[2008-09]Status: DisposedITAT Delhi03 Apr 2019AY 2008-09

Bench: Shri R. K. Panda & Ms Suchitra Kamblequippo Oil & Gas Infra Ltd. Vs The Additional D-2, 5Th Floor, Southern Park, Commissioner Of Income Saket Place Tax, New Delhi Aaacq1278P Range-14 New Delhi (Appellant) (Respondent) Dcit Vs Quippo Oil & Gas Infra Ltd. Circle-14(1) D-2, 5Th Floor, Southern New Delhi Park, Saket Place New Delhi Aaacq1278P (Appellant) (Respondent)

Section 115JSection 143(3)Section 37Section 43B

…tinize the P&L A/c once it is certified by the statutory auditors of a company and that he can make only those adjustments which are permitted by Explanation to section 115JA(2). Similar view has been taken in the case of ITO vs. Orson Trading (P) Ltd. (2005) 2 SOT 503 (Mum). 14. As regards Ground No. 3 of the assessee’s appeal, the Ld. DR submitted that the Assessing Officer has rightly considered Rs. 30,88,634/- as book profits u/s 115 JB because there is a change in the method of accounting and loss is capital nature. The Ld. DR relied upon the Assessment Order and the order of the CIT(A). 15. We have heard…

ITO v. Orson Trading (P) Ltd. (2 SOT 503) — Cited in 3 Judgments | BharatTax