JCIT v. Rolta India Ltd.

ACIT 3(2), Mumbai vs. Mangalore Refinery & Petrochemicals Ltd, Mumbai

In the result, the Cross objection filed by the assessee is allowed, as above

Bench: Shri G.S. Pannu & Shri Amit Shukla: (A.Y : 2004-05)

…s 234B & 234C of the Act. 22. On this aspect, the only plea of the ld. DR is that the charging of interest u/s 234B & 234C of the Act is mandatory in nature and reliance was placed on the judgment of the Hon'ble Supreme Court in the case of Rolta India Ltd., 330 ITR 470 (SC) to say that interest u/s 234B & 234C of the Act is chargeable even where the tax liability is determined in terms of Sec. 115JB of the Act. 23. On the other hand, the plea of respondent-assessee is in support of the ultimate decision of CIT(A) in holding that no interest u/s 234B & 234C of the Act is chargeable in the present case. The conc…

Doubledot Finance Ltd, Mumbai vs. DCIT RG 4(1), Mumbai

In the result, appeal of the assessee is allowed for statistical

Bench: Shri D.Karunakara Rao

…view that the interest should not be levied without examining the peculiar facts and circumstances of the case. AO is directed to examine the same and applying the cited Supreme Court’s judgments in the case of Kwality Biscuits (284 ITR 434) & Rolta India (330 ITR 470) etc. AO shall grant opportunity of being heard to the assessee properly. Accordingly, the additional ground raised by the assessee is decided as above. 11. In the result, appeal of the assessee is allowed for statistical purpose. Order pronounced in the open court on this 17th day of August, 2016. (D.KARUNAKARA RAO) ACCOUNTANT MEMBER Mumba…

Ashish Fiscal Services P. Ltd, Mumbai vs. DCIT 3(1), Mumbai

In the result, the assessee’s appeal is dismissed

Bench: Shri Sanjay Arora, Am & Shri Ram Lal Negi, Jm आयकर अपील सं./I.T.A. No. 2573/Mum/2014 ("नधा"रण वष" / Assessment Year: 2008-09) Ashish Fiscal Services Pvt. Ltd. Dy. Cit-3(1), बनाम/ 115, Maker Chambers-Iii, Aayakar Bhavan, Nariman Point, Mumbai-400 021 M. K. Marg, Mumbai-400 020 Vs. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaaca 3319 F (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri Jitendra Jain ""यथ" क" ओर से/Respondent By : Ms. Arju Garodia

…ices Pvt. Ltd. vs. Dy. CIT on 28.8.2006. The assessee was, accordingly, not entitled to any benefit of the first proviso to section 234C(1)(b), which was thus rendered inapplicable, further noting that the Apex Court had in Jt. CIT vs. Rolta India Ltd. [2011] 330 ITR 470 (SC) held that sections 234B and 234C is applicable on income deemed under the MAT provisions. His order being confirmed in first appeal, the assessee is in second appeal. 4. We have heard the parties, and perused the material on record. We find no substance in the assessee’s case. The first appellate authority in the first round, on the assesse…

Pfizer Pharmaceuticals India P. Ltd 9Formerly Known As Warner Lambert (I) P. Ltd ), Mumbai vs. DCIT RG 8(2), Mumbai

Appeal of the AO stands dismissed

…uring the course of hearing,the Departmental Representative (DR) left the issue to the discretion of the Bench.The Authorised Representative (AR) relied upon the case of Kwality 1 3367/09&3532/09-Pfizer Pharmaceuticals Biscuits (supra) and Rolta India Ltd. (330 ITR 470). We find that the issue stands covered in favour of the assessee by the above referred two judgments of the Hon’ble Apex Court. Respectfully,following the above judgments,Ground raised by the AO is dismissed. ITA/3367/Mum/2009: 3.First Ground of appeal is about addition of Rs.1.80 lakhs.During the assessment proceedings,the AO found that the ass…