ITR 6 (Del. HC) CIT v. Jagdishprasad M. Joshi

317 ITR 259High Court#20461 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 350,364 Indian tax judgments — from 2016 to 2023.

Judgments citing ITR 6 (Del. HC) CIT v. Jagdishprasad M. Joshi

JCIT Spl. Range-12, New Delhi vs. Arihanta Industries, Delhi

In the result, both the appeals of the Revenue are allowed

ITA 963/DEL/2019[2015-16]Status: DisposedITAT Delhi17 Jul 2023AY 2015-16

Bench: Sh. Saktijit Deydr. B. R. R. Kumar

For Appellant: Sh. Sachit Jolly, AdvFor Respondent: Sh. P. Praveen Sidharth, CIT DR

Section 131Section 68Section 801CSection 80I

…ra) held that "standing charges" did not qualify for deduction under section 80-IC as the payment was not income or profit/gain derived from manufacturing or production of articles and things. The Gauhati High Court in the case of Panchratna Cement Pvt. Ltd (317 ITR 259) was of the view that if the profits and the gains of the assessee have no association or any relation whatsoever with the business of industrial undertaking or it cannot be imagined to be related or connected therewith, by no means would they qualify to be deducted from the total income u/s 80-IC of the Act. In this case also, the assessee has…

Grasim Industries Ltd vs. Addl. CIT Range 6(3)

In the result, appeal filed by the assesse and revenue are partly allowed

ITA 4753/MUM/2004[2002-03]Status: DisposedITAT Mumbai14 Dec 2021AY 2002-03

Bench: Shri Saktijit Dey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blegrasim Industries Limited V. Addl. Cit, Range 6(3) Corporate Finance Division 5Th Floor, Room No. 505 Aditya Birla Centre “A” Wing Aayakar Bhavan 2Nd Floor, S.K. Ahire Marg, Worli Mumbai Mumbai-400025 Pan: Aaacg4464B Appellant Respondent Dy. Cit, Range 6(3), V. Grasim Industries Limited, 5Th Floor, Room No. 505, Corporate Finance Division, Aayakar Bhavan, Aditya Birla Centre, “A” Wing, Mumbai-20. 2Nd Floor, S.K. Ahire Marg Worli, Mumbai-400025 Pan: Aaacg4464B Appellant Respondent Assessee By : Shri J.D. Mistry Revenue By : Shri Sandeep Raj & Shri Vijay Kumar Menon

For Appellant: Shri J.D. MistryFor Respondent: Shri Sandeep Raj &

Section 143(3)Section 36(1)(vii)Section 43BSection 80Section 80H

…that the issue in appeal has been considered by the following judicial pronouncements and decided in favour of the assessee CIT v. Eltek Sgs (P) Ltd., [300 ITR 6 (Del. HC) CIT v. Jagdishprasad M. Joshi [318 ITR 420 (Bom. HC)], CIT v. M/S Meghalaya Steels Ltd [317 ITR 259 (Gauhati)] and Shivansh buildcon Pvt. Ltd., v. ACIT [318 ITR (AT) 346 (Jaipur)] and requested the same be adopted in the case of assessee also. 21 ITA No. 4753 & 5584/MUM/2004 (A.Y. 2002-03) Grasim Industries Limited, 31. Ld. DR vehemently supported the orders of the authorities below. 32. Considered the submissions and material placed on recor…

I.T.O WD - 1(2), Kolkata vs. M/S S.K.J.Coke Industries Ltd., Kolkata

In the result the appeal of the revenue is dismissed

ITA 2129/KOL/2013[2005-06]Status: DisposedITAT Kolkata01 Jun 2016AY 2005-06

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am] I.T.A No. 2129/Kol/2013 Assessment Year : 2005-06

For Appellant: Shri Niraj Kumar, CIT(DR)For Respondent: Shri H.N.Dubey, Advocate &

Section 143(3)Section 154Section 36(1)(iii)Section 80Section 801C(1)Section 80HSection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : KOLKATA [Before Hon’ble Sri N.V.Vasudevan, JM & Shri M.Balaganesh, AM] I.T.A No. 2129/Kol/2013 Assessment Year : 2005-06 I.T.O., Ward-1(2) -vs.- M/s. S.K.J.Coke Industries Ltd. Kolkata Kolkata [PAN : AAECS 2686 K] (Appellant) (Respondent) For the Appellant : Shri Niraj Kumar, CIT(DR) For the Respondent : Shri H.N.Dubey, Advocate & Shri Rakesh Dubey, Advocate. Date of Hearing : 27.05.2016. Date of Pronouncement : 01.06.2016. ORDER Per N.V.Vasudevan, JM This is an appeal by the revenue against the order dated 30.04.2013 of CIT(A)- I, Kolkata, relating to…

M/S. Pioneer Industries, Haridwar vs. ITO, Haridwar

In the result, appeal of the assessee is allowed

ITA 250/DEL/2015[2010-11]Status: DisposedITAT Delhi02 May 2016AY 2010-11

Bench: Shri I. C. Sudhir & Shri Prashant Maharishipioneer Industries, Ito, Plot No.48, Sector-2, Iie, Ward-2, Vs. Sidcut, Haridwar Haridwar Pan:Aaifp5234C (Appellant) (Respondent)

For Appellant: Sh.Pancham Sethi, CAFor Respondent: Sh. Subhakant Sahu, Sr. DR

Section 80Section 80I

…funds. For establishing this fact, assessee has submitted the copy of balance sheet also where assessee has unsecured loan and secured loan-bearing interest. Ld AR further relied on the decision of Gauhati High Court in the case of Panchratna Cement Pvt. Ltd. 317 ITR 259. 5. Ld DR submitted that as assessee has earned bank interest which is not derived from the industrial undertaking but from the fixed deposits deduction u/s 80IC cannot be allowed on this and further it is also not eligible for netting off. 6. We have carefully considered the rival contentions. The assessee has claimed that the interest income ea…