ITR Nos. 17 and 94/74 (Addl. CIT v. Handicrafts & Handloom Export Corpn (133 ITR 590)

THE DCIT, CIRCLE -4,, AHMEDABAD vs. GUJARAT STATE FINANCIAL CORPORATION,, GANDHINAGAR

In the result, assessee’s appeal is allowed and revenue’s appeal is dismissed

ITA 1903/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad04 Apr 2019AY 2009-10

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

For Appellant: Shri P. F. Jain, A.RFor Respondent: Shri Anshu Prakash, CIT-D.R

Section 143(1)Section 143(2)Section 143(3)Section 2(24)

…t would depend upon the nature of receipt and the true scope and effect of the relevant Taxing provision. It has also relied upon the judgment passed by the Hon’ble Delhi High Court in the matter of ACIT-vs-Handicraft & Handloom Export Corporation reported in 133 ITR 590 holding that voluntary payments can be regarded as Trading receipts in the hand of the recipients and therefore, not in the nature of income. The judgment passed by the Hon’ble Supreme Court in the matter of Padmaraja R. Kadmabendre-vs-CIT reported in 195 ITR 877 was also relied upon wherein factually in an identical case the amount received by a…

GUJARAT STATE FINANCIAL CORPORATION,GANDHINAGAR vs. THE ACIT.,CIRCLE-4,, AHMEDABAD

In the result, assessee’s appeal is allowed and revenue’s appeal is dismissed

ITA 1547/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad04 Apr 2019AY 2009-10

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

For Appellant: Shri P. F. Jain, A.RFor Respondent: Shri Anshu Prakash, CIT-D.R

Section 143(1)Section 143(2)Section 143(3)Section 2(24)

…t would depend upon the nature of receipt and the true scope and effect of the relevant Taxing provision. It has also relied upon the judgment passed by the Hon’ble Delhi High Court in the matter of ACIT-vs-Handicraft & Handloom Export Corporation reported in 133 ITR 590 holding that voluntary payments can be regarded as Trading receipts in the hand of the recipients and therefore, not in the nature of income. The judgment passed by the Hon’ble Supreme Court in the matter of Padmaraja R. Kadmabendre-vs-CIT reported in 195 ITR 877 was also relied upon wherein factually in an identical case the amount received by a…

M/S THE STATE FISHERIES DEVELOPMENT CORPORATION LTD.,KOLKATA vs. D.C.I.T CIR - 2,KOLKATA., KOLKATA

In the result, assessee’s appeal stands allowed

ITA 165/KOL/2013[2006-07]Status: DisposedITAT Kolkata16 Sept 2016AY 2006-07

Bench: Hon’Ble Shri Waseem Ahmed & Shri K.Narasimha Chary

Section 143(2)Section 143(3)Section 37(1)

…sses and enabling it to recoup those losses and continue to carry on the business in spite of such losses. In the circumstances, what we have said in our earlier judgment in ITR Nos 17 and 84/74 (Addl. CIT v. Handicrafts and handloom Export Corporation [1982] 133 ITR 590 (Delhi) will equally apply in regard to the assistance received by the assessee from the STC during the current years.” The aforesaid findings recorded by the Hon'ble High Court in the earlier decision i.e., Handicrafts and handloom Export Corporation of India v. CIT [1983] 140 ITR 532 (Del) merit acceptance, even when we apply the purpose test…

THE STATE FISHERIES DEVELOPMENT CORPORATION LTD.,KOLKATA vs. ACIT, CIR-2, KOLKATA, KOLKATA

In the result, assessee’s appeal stands partly allowed

ITA 1281/KOL/2009[2005-2006]Status: DisposedITAT Kolkata19 Apr 2016AY 2005-2006

Bench: Shri Mahavir Singh & Shri Waseem Ahmedassessment Year :2005-06

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “B” KOLKATA Before Shri Mahavir Singh, Judicial Member and Shri Waseem Ahmed, Accountant Member Assessment Year :2005-06 The State Fisheries V/s. ACIT, Circle-2, Development Corporation Ltd.“Bikash Bhawan”, First Floor, North Block, Bidhan Nagar, Kolkata-700 091 [PAN No. AABCT 2090 D] अपीलाथ" /Appellant .. ""यथ"/Respondent Shri Soumitra Chowdhury, Advocate अपीलाथ" क" ओर से/By Appellant ""यथ" क" ओर से/By Respondent Shri Amitava Bhattacharya, JCIT-SR-DR सुनवाई क" तार"ख/Date of Hearing 10-03-2006 घोषणा क" तार"ख/Date of Pronouncement 19-04-2016 आदेश /O R D E…

COMMISSIONER OF INCOME TAX vs. M/S HANDICRAFTS & HANDLOOMS EX

The appeal is disposed of without any order as to costs

ITA - 3 / 2001HC Delhi06 Sept 2013

Section 260A

…ITA No. 3/2013 Page 1 of 11 $~ R-47(Part-II-B) * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 3/2001 % Date of Decision: 5th September, 2013 COMMISSIONER OF INCOME TAX ..... Appellant Through: Mr. Amol Sinha, Adv. versus M/S HANDICRAFTS AND HANDLOOMS EXPORT CORPN. OF INDIA LTD. ..... Respondent Through: Mr. Kamal Mehta, Adv. CORAM: HON'BLE MR. JUSTICE SANJIV KHANNA HON'BLE MR. JUSTICE SANJEEV SACHDEVA SANJIV KHANNA, J. Revenue by this appeal under Section 260…

COMMISSIONER OF INCOME TAX vs. CORPN. OF INDIA LTD