JCIT v. Rolta India Ltd.

M/S. PATANJALI FOODS LTD (FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD),MUMBAI vs. DY COMM OF INCOME TAX- CENTRAL CIRCLE-7(2), MUMBAI

In the result, the appeal and cross objections of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13)

…he liability to pay advance tax and interest u/s 234B & 234C of the Act, in case the income is held to be chargeable to tax u/s 115JB of the Act. The Ld. CIT, DR, at the outset, contended that the Hon’ble Supreme Court in the case of JCIT vs Rolta India Ltd. (330 ITR 470) has held that interest is leviable u/s 234B & 234C even if the income tax is ultimately payable under MAT provisions. 12.2 Per contra, the Ld. AR has contended that, earlier the Hon’ble Supreme Court in the case of CIT vs Kwality Biscuits Ltd. (284 ITR 434) vide order dated 26.04.2006 had held that, where income was computed u/s 115JB of the Ac…

DCIT, CC-7(2), MUMBAI vs. M/S. PATANJALI FOODS LTD.,( FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD,, MUMBAI

In the result, the appeal and cross objections of the assessee are

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/S. Patanjali Foods Ltd Vs. (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross Objection No.51/Mum/2023 (Arising Out Of I.T. A. No. 1172/Mum/2023) (निर्धारण वर्ष / Assessment Year: 2010-11) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. बनाम / Dcit, Central Circle-7(2) Vs. Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. & आयकर अपील सं/ I.T. A. No. 320/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) बनाम / Vs. Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaci1220M 2

…he liability to pay advance tax and interest u/s 234B & 234C of the Act, in case the income is held to be chargeable to tax u/s 115JB of the Act. The Ld. CIT, DR, at the outset, contended that the Hon'ble Supreme Court in the case of JCIT vs Rolta India Ltd. (330 ITR 470) has held that interest is leviable u/s 234B & 234C even if the income tax is ultimately payable under MAT provisions. 12.2 Per contra, the Ld. AR has contended that, earlier the Hon'ble Supreme Court in the case of CIT vs Kwality Biscuits Ltd. (284 ITR 434) vide order dated 26.04.2006 had held that, where income was computed u/s 115JB of the Act…

DCIT, CC-7(2), MUMBAI vs. M/S. PATANJALI FOODS LTD.,( FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD,, MUMBAI

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/S. Patanjali Foods Ltd Vs. (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross Objection No.51/Mum/2023 (Arising Out Of I.T. A. No. 1172/Mum/2023) (निर्धारण वर्ष / Assessment Year: 2010-11) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. बनाम / Dcit, Central Circle-7(2) Vs. Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. & आयकर अपील सं/ I.T. A. No. 320/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) बनाम / Vs. Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaci1220M 2

…he liability to pay advance tax and interest u/s 234B & 234C of the Act, in case the income is held to be chargeable to tax u/s 115JB of the Act. The Ld. CIT, DR, at the outset, contended that the Hon'ble Supreme Court in the case of JCIT vs Rolta India Ltd. (330 ITR 470) has held that interest is leviable u/s 234B & 234C even if the income tax is ultimately payable under MAT provisions. 12.2 Per contra, the Ld. AR has contended that, earlier the Hon'ble Supreme Court in the case of CIT vs Kwality Biscuits Ltd. (284 ITR 434) vide order dated 26.04.2006 had held that, where income was computed u/s 115JB of the Act…

DCIT, CC-7(2), MUMBAI vs. M/S. PATANJALI FOODS LTD.,( FORMERLY KNOWN AS RUCHI SOYA INDUSTRIES LTD,, MUMBAI

In the result, the appeal and cross objections of the assessee are partly allowed and the appeals of the revenue are dismissed

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13)

…he liability to pay advance tax and interest u/s 234B & 234C of the Act, in case the income is held to be chargeable to tax u/s 115JB of the Act. The Ld. CIT, DR, at the outset, contended that the Hon’ble Supreme Court in the case of JCIT vs Rolta India Ltd. (330 ITR 470) has held that interest is leviable u/s 234B & 234C even if the income tax is ultimately payable under MAT provisions. 12.2 Per contra, the Ld. AR has contended that, earlier the Hon’ble Supreme Court in the case of CIT vs Kwality Biscuits Ltd. (284 ITR 434) vide order dated 26.04.2006 had held that, where income was computed u/s 115JB of the Ac…

ROCKLINE DEVELOPERS P. LTD,MUMBAI vs. ITO 9(3)(4), MUMBAI

In the result, ground “A” raised in the appeal by the assessee stands dismissed

…e under section 80-16(10) of the Act, was required to be reduced from the net profit for the purpose of computation of book profit. 3. The Id AO also failed to correctly appreciate the judgement of the Apex Court, in the case of JCIT Vs Rolta India Ltd [2011] 330 ITR 470 (SC), wherein it has been clearly held that all other provisions of the Act, shall 2 M/s. Rockline Developers Pvt. Ltd. apply to MAT company, in view of the provisions of sections 115JA(4) and 115JB(5) of the Act. 4. The Id CIT(A) also failed to appreciate that even as per Circular No.13 of 2001, dt.9.11.2001, it has been clearly pointed out tha…

M/S. FDC LIMITED,MUMBAI vs. ADDLL. CIT- 8 (1), MUMBAI

Appeal stand dismissed

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) 1. आयकरअपील िं./ I.T.A. No.6901/Mum/2018 (धििाारण वर्ा / Assessment Year: 2010-11) & 2. आयकरअपील िं./ I.T.A. No.6840/Mum/2018 (धििाारण वर्ा / Assessment Year: 2011-12) M/S Fdc Limited Acit Circle– 8(1) बिाम/ 142-48, S. V. Road {Now Acit Circle 9(3)(1)} Jogeshwari (West) R. No. 215, Aayakar Bhavan Vs. Mumbai – 400 102 Mumbai-400 020 स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No. Aaacf-0253-H (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : & 3. आयकरअपील िं./ I.T.A. No.7016/Mum/2018 (धििाारण वर्ा / Assessment Year: 2010-11) Acit Circle– 8(1) M/S Fdc Limited बिाम/ {Now Acit Circle 9(3)(1)} 142-48, S. V. Road R. No. 215, Aayakar Bhavan Jogeshwari (West) Vs. Mumbai-400 020 Mumbai – 400 102 स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No. Aaacf-0253-H (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Assessee By : Shri S. S. Nagar, Ld. Ar Revenue By : Shri Sunil Deshpande, Ld. Cit-Dr ुनवाई की तारीख/ : 20/07/2021 Date Of Hearing घोषणा की तारीख / : 08/10/2021 Date Of Pronouncement

…1 M/s FDC Limited Assessment Years: 2010-11 & 2011-12 आयकर अपीलीय अधिकरण “के” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI माननीय श्री महावीर स िंह, उपाध्यक्ष एवुं माननीय श्री मनोज कुमार अग्रवाल ,लेखा दस्य के मक्ष। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM (Hearing Through Video Conferencing Mode) 1. आयकरअपील िं./ I.T.A. No.6901/Mum/2018 (धििाारण वर्ा / Assessment Year: 2010-11) & 2. आयकरअपील िं./ I.T.A. No.6840/Mum/2018 (धििाारण वर्ा / Assessment Year: 2011-12) M/s FDC Limited ACIT Circle– 8(1) बिाम/ 142-48, S. V. Road {now ACIT Circle 9(3)(1)}…

TIMES GUARANTY LTD,MUMBAI vs. ASST CIT 1(3), MUMBAI

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

Bench: Shri Shamim Yahya, Accountanat Member & Shri Pawan Singh, Judicial Memebr

…e is allowed. Ground 3 is allowed. 11. Ground 4 relates to charging of interest u/s 234C. The Ld.AR of the assessee fairly submits that this ground of appeal is covered against the assessee by the decision of Hon’ble Supreme Court in the case of Rolta India 330 ITR 470 (SC). Considering the submission of assessee, ground 4 of the assessee is dismissed. 7 ITA 4260/Mum/2013 Times Guaranty Ltd 12. The additional ground of appeal relates to computation of income as per section 115JB. The Ld.AR of the assessee submits that no tax is payable as per computation of income. Therefore, the provisions of section 115JB…

ENTERTAINMENT NETWORK (INDIA) LTD,MUMBAI vs. ASST CIT RG 11(1), MUMBAI

In the result, the appeals of the assessee in ITA No

Bench: Shri Sandeep Gosain & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.852/Mum/2016 (नििाारण वर्ा / Assessment Year: 2010-11) बिाम/ Entertainment Network Acit 16(1), Room No. 439, 4T H Floor, Aayakar Bhavan, (India) Ltd., M.K Road, 4T H Floor, A Wing, V. Mumbai- 400020 Matulya Centre, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013 स्थायी ऱेखा सं./ Pan :Aaace7796G आयकर अपीऱ सं./I.T.A. No.812/Mum/2016 (नििाारण वर्ा / Assessment Year: 2010-11) बिाम/ Acit 16(1), Room No. 439, Entertainment Network 4T H Floor, Aayakar Bhavan, (India) Ltd., M.K Road, Mumbai 400020 4T H Floor, A Wing, V. Matulya Centre, Senapati Bapat Marg, Lower Parel(West), Mumbai-400013 स्थायी ऱेखा सं./ Pan : Aaace7796G (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

…een issued by the CBDT as per which companies covered by the provisions of section 115JB are liable to pay advance tax and consequently, section 234B and 234C of the Act are applicable. The Hon'ble Supreme Court in the case of JCIT Vs. Rolta India Ltd. (2011) 330 ITR 470(SC) has ruled that section 115J is a special provision. It is clear from reading section 115J and 115JB that the question whether a company which is liable to pay tax under either provisions does not receive importance because specific provisions are made in the section saying that all other provisions of the Act so apply to MAT copy under Sectio…

ACIT 16(1), MUMBAI vs. ENTERTAINMENT NETWORK (INDIA) LTD, MUMBAI

In the result, the appeals of the assessee in ITA No

Bench: Shri Sandeep Gosain & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.852/Mum/2016 (नििाारण वर्ा / Assessment Year: 2010-11) बिाम/ Entertainment Network Acit 16(1), Room No. 439, 4T H Floor, Aayakar Bhavan, (India) Ltd., M.K Road, 4T H Floor, A Wing, V. Mumbai- 400020 Matulya Centre, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013 स्थायी ऱेखा सं./ Pan :Aaace7796G आयकर अपीऱ सं./I.T.A. No.812/Mum/2016 (नििाारण वर्ा / Assessment Year: 2010-11) बिाम/ Acit 16(1), Room No. 439, Entertainment Network 4T H Floor, Aayakar Bhavan, (India) Ltd., M.K Road, Mumbai 400020 4T H Floor, A Wing, V. Matulya Centre, Senapati Bapat Marg, Lower Parel(West), Mumbai-400013 स्थायी ऱेखा सं./ Pan : Aaace7796G (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

…een issued by the CBDT as per which companies covered by the provisions of section 115JB are liable to pay advance tax and consequently, section 234B and 234C of the Act are applicable. The Hon'ble Supreme Court in the case of JCIT Vs. Rolta India Ltd. (2011) 330 ITR 470(SC) has ruled that section 115J is a special provision. It is clear from reading section 115J and 115JB that the question whether a company which is liable to pay tax under either provisions does not receive importance because specific provisions are made in the section saying that all other provisions of the Act so apply to MAT copy under Sectio…

ACIT 2(1), MUMBAI vs. TATA MOTORS LTD, MUMBAI

In the result, both appeals of the assessee as well as Revenue are allowed for the statistical purposes in the light of directions contained hereinabove

Bench: Shri M.Balaganesh, Am & Shri Amarjit Singh, Jm M/S Tata Motors Vs. Acit, Cir-2(1), Mumbai-20 Limited(Formerly Known As Tata Engineering & Locomotive Company Ltd), Bombay House, 24, Homi Mody Street, Hutatma Chowk, Mumbai-400001 Pan/Gir No.Aaact 2727 Q (Appellant) .. (Respondent) & Acit, 2(1), Mumbai-20 Vs. M/S Tata Motors Limited(Formerly Known As Tata Engineering & Locomotive Company Ltd), Bombay House, 24, Homi Mody Street, Hutatma Chowk, Mumbai- 400001 Pan/Gir No.Aaact 2727 Q (Appellant) .. (Respondent) Assessee By Shri J.D.Mistri & Nikhil Tiwari, Ar Revenue By Shri R.Manjunatha Swamy, Citdr Date Of Hearing 01/05/2019 Date Of Pronouncement 03/05/2019

…234C is leviable if tax is determined under section 115JB of the Act:- • Kwality Biscuits Ltd (284 ITR 434) (SC) • Snowcem India Ltd (313 ITR 170) (Bom) • Natural Gems Ltd (327 ITR 269) (Bom) Subsequently the Hon'ble Supreme Court in case of Rolta India Ltd (330 ITR 470) (SC) dated 7 January 2011, contrary to the above decisions, has held that interest is leviable even if income tax is payable under MAT provisions. The Hon'ble Tribunal in following cases held that in the assessment made by AO (prior to decision of Supreme Court in case of Rolta India), interest under section 234B cannot be levied if income is ch…

TATA MOTERS LIMITED (FORMERLY KNOWN AS TATA ENGINEERING & LOCOMOTIVE COMPANY LTD.),MUMBAI vs. A CIT, CIR..-2(1), MUMBAI

In the result, both appeals of the assessee as well as Revenue are allowed for the statistical purposes in the light of directions contained hereinabove

Bench: Shri M.Balaganesh, Am & Shri Amarjit Singh, Jm M/S Tata Motors Vs. Acit, Cir-2(1), Mumbai-20 Limited(Formerly Known As Tata Engineering & Locomotive Company Ltd), Bombay House, 24, Homi Mody Street, Hutatma Chowk, Mumbai-400001 Pan/Gir No.Aaact 2727 Q (Appellant) .. (Respondent) & Acit, 2(1), Mumbai-20 Vs. M/S Tata Motors Limited(Formerly Known As Tata Engineering & Locomotive Company Ltd), Bombay House, 24, Homi Mody Street, Hutatma Chowk, Mumbai- 400001 Pan/Gir No.Aaact 2727 Q (Appellant) .. (Respondent) Assessee By Shri J.D.Mistri & Nikhil Tiwari, Ar Revenue By Shri R.Manjunatha Swamy, Citdr Date Of Hearing 01/05/2019 Date Of Pronouncement 03/05/2019

…234C is leviable if tax is determined under section 115JB of the Act:- • Kwality Biscuits Ltd (284 ITR 434) (SC) • Snowcem India Ltd (313 ITR 170) (Bom) • Natural Gems Ltd (327 ITR 269) (Bom) Subsequently the Hon'ble Supreme Court in case of Rolta India Ltd (330 ITR 470) (SC) dated 7 January 2011, contrary to the above decisions, has held that interest is leviable even if income tax is payable under MAT provisions. The Hon'ble Tribunal in following cases held that in the assessment made by AO (prior to decision of Supreme Court in case of Rolta India), interest under section 234B cannot be levied if income is ch…

ROCKLINE DEVELOPERS PVT. LTD.,MUMBAI vs. ITO 13(3)(2), MUMBAI

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

Bench: Shri B.R. Baskaran & Shri Pawan Singhm/S. Rockline Developers P. Ltd. Income Tax Officer-13(3)(2) 801, Hubtown Solaris Mumbai Vs. N.S. Phadke Marg, Off. Teli Gali Andheri (E), Mumbai 400069 Pan – Aaacr4467F Appellant Respondent

…as otherwise provided in this Section, all other provisions of this Act shall apply to every assessee, being a company mentioned in this Section.” 3 M/s. Rockline Developers P. Ltd. He submitted that the Hon'ble Supreme Court in the case of Rolta India Ltd. 330 ITR 470 has interpreted Section 115JB(5) of the Act and has held that all other provisions of the Act shall apply. Accordingly the learned A.R. contended that provisions of Section 80IB should also apply for computing book profit under Section 115JB of the Act. 7. The learned A.R. further submitted that deduction prescribed under Section 80HHC of the Ac…