JSW Steel Ltd. v. ACIT

82 Taxmann.com 210Income Tax Appellate Tribunal2017#9227 most cited

What is JSW Steel Ltd. v. ACIT authority for?

A capital receipt that is not chargeable to tax and does not fall within any charging section or head of income cannot be treated as part of net profit for tax purposes. Only receipts in the nature of income, falling within a charging section, are subject to tax.

12

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2023.

Also referred to as

JSW Steel Ltd. v. ACIT · capital receipt · not chargeable to tax · net profit · Income Tax Act · 1961 · charging section · taxable income

Also reported as

133 TTJ 742
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Issues it is cited on

previous yeartransfercompanysection 143(3)indiatotal incomebusinessdocument

Judgments citing JSW Steel Ltd. v. ACIT

M/S. Satia Industries Limited, Muktsar vs. Deputy Commissioner of Income Tax Circle-1, Bathinda

In the result, the appeal of the assessee bearing ITA No

ITA 193/ASR/2022[2018-19]Status: DisposedITAT Amritsar13 Jun 2023AY 2018-19

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 115BSection 143(3)Section 144C(8)Section 250oSection 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR. BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No.193/Asr/2022 Assessment Year: 2018-19 M/s Satia Industries Ltd. Vs. National Faceless Malour Road, Vill. Rupana, Assessment Centre, Distt. Muktsar. Assessment Unit, I.T. [PAN:-AACCS7233A] Department New Delhi. (Appellant) (Respondent) Appellant by Sh. Sudhir Sehgal, Sh. P.N. Arora & Ashwani Juneja, Adv. Respondent by Sh. Girish Bali, CIT. DR Date of Hearing 17.05.2023 Date of Pronouncement 13.06.2023 ORDER Per:Anikesh Banerjee, JM: The instant appeal o…

Tmf Holding Ltd., Mumbai vs. Pr. CIT -1, Mumbai

ITA 1628/MUM/2020[2015-16]Status: DisposedITAT Mumbai22 Apr 2022AY 2015-16

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Bletmf Holdings Ltd., V. Pr.Cit – 1 {Formerly Known As Tata Motors Finance Ltd.,} 3Rd Floor, Room No. 330 10Th Floor, 106 A & B Aayakar Bhavan, M.K. Road Maker Chamber-Iii Mumbai - 400020 Nariman Point, Mumbai Pan: Aacct4644A (Appellant) (Respondent) Shri Nikhil Tiwari Assessee By : Department By : Shri S.N. Kabra

For Appellant: Department byFor Respondent: Shri S.N. Kabra
Section 115JSection 143(3)Section 14ASection 263Section 47

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, HON'BLE JUDICIAL MEMBER TMF Holdings Ltd., v. Pr.CIT – 1 {Formerly Known as Tata Motors Finance Ltd.,} 3rd Floor, Room No. 330 10th Floor, 106 A & B Aayakar Bhavan, M.K. Road Maker Chamber-III Mumbai - 400020 Nariman Point, Mumbai PAN: AACCT4644A (Appellant) (Respondent) Shri Nikhil Tiwari Assessee by : Department by : Shri S.N. Kabra Date of Hearing : 28.01.2022 Date of Pronouncement : 22.04.2022 O R D E R PER S. RIFAUR RAHMAN (AM) 1. This appeal is filed by the assessee…

Addl. CIT, Special Range-8, New Delhi vs. St Microelectronics Pvt. Ltd., New Delhi

In the result, the appeal of the Revenue and the cross-objection of

ITA 4774/DEL/2017[2005-06]Status: DisposedITAT Delhi18 Aug 2021AY 2005-06

Bench: Shri R.K.Panda & Shri Kul Bharatassessment Year : 2005-06 Addl. Cit, Vs St Micro Electronics Pvt.Ltd., Special Range-8, 202-206,Tolstoy House, 15, New Delhi. Tolstoy Marg, New Delhi-110001. Pan-Aaacs3406M Appellant Respondent

Section 143(3)Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “I-2” BENCH: NEW DELHI (THROUGH VIDEO CONFERENCING) BEFORE SHRI R.K.PANDA, ACCOUNTANT MEMBER & SHRI KUL BHARAT, JUDICIAL MEMBER Assessment Year : 2005-06 Addl. CIT, vs ST Micro Electronics Pvt.Ltd., Special Range-8, 202-206,Tolstoy House, 15, New Delhi. Tolstoy Marg, New Delhi-110001. PAN-AAACS3406M APPELLANT RESPONDENT C.O.No.-54/Del/2018 [Arising out of ITA No.4774/Del/2017] Assessment Year : 2005-06 ST Micro Electronics Pvt.Ltd., vs Addl. CIT, 202-206,Tolstoy House, 15, Special Range-8, Tolstoy Marg, New Delhi-110001. New Delhi. PAN-AAACS3406M APPELLANT RESPONDENT…

Continuum Wind Energy (India) Pvt. Ltd., Chennai vs. DCIT Corporate Circle 1(2), Chennai

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

ITA 1336/CHNY/2018[2014-15]Status: DisposedITAT Chennai09 Aug 2021AY 2014-15

Bench: Shri Mahavir Singh, Vice- & Shri G.Manjunatha

For Appellant: Ms. R.Anita, JCITFor Respondent: 07.07.2021

…decided in favour of the assessee by the Tribunal in assessee’s own case for assessment year 2013-14 in ITA No. 3344/Mds/2016 dated 16.06.2017, where the Tribunal by following decision of ITAT., Bangalore Bench in the case of JSW Steel Ltd Vs. ACIT (2010) 133 TTJ 742 held that the assessee is entitled to depreciation on the enhanced value of cost of asset including capitalization of foreign currency loss incurred on fluctuation of currency in repayment of foreign currency loan. Further, the Hon’ble High Court of Madras has affirmed findings of the Tribunal in assessee’s own case for assessment year 2013-14…

M/S. Peerless Hospitex Hospital & Research Centre Ltd., Kolkata vs. DCIT, Circle - 11(2), Kolkata

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

ITA 738/KOL/2018[2013-14]Status: DisposedITAT Kolkata11 Dec 2019AY 2013-14

Bench: Shri A.T.Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.737 & 738/Kol/2018 ("नधा"रणवष" / Assessment Years:2009-10 & 2013-14)

For Appellant: Shri S. K. Tulsiyan, Advocate, Shri S. Dey, CA & Ms. Puja Somani, CAFor Respondent: Smt. Ranu Biswas, Addl. CIT
Section 115JSection 154Section 72

…IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH KOLKATA BEFORE SHRI A.T.VARKEY, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA Nos.737 & 738/Kol/2018 ("नधा"रणवष" / Assessment Years:2009-10 & 2013-14) M/s Peerless Hospitex Hospital & Vs. DCIT, Circle-11(2), Kolkata 360, Panchsayar, Kolkata-700084 "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AABCP 7225 L (Appellant) .. (Respondent) Appellant by : Shri S. K. Tulsiyan, Advocate, Shri S. Dey, CA & Ms. Puja Somani, CA Respondent by :Smt. Ranu Biswas, Addl. CIT सुनवाईक"तार"ख/ Date of Hearing : 15/10/2019 घोषणाक"तार"ख/Date of Pronouncement : 11/12/2019 आदेश / O R D E R Per Dr. A. L…

M/S. Peerless Hospitex Hospital & Research Centre Ltd., Kolkata vs. DCIT, Circle - 11(2), Kolkata

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

ITA 737/KOL/2018[2009-10]Status: DisposedITAT Kolkata11 Dec 2019AY 2009-10

Bench: Shri A.T.Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.737 & 738/Kol/2018 ("नधा"रणवष" / Assessment Years:2009-10 & 2013-14)

For Appellant: Shri S. K. Tulsiyan, Advocate, Shri S. Dey, CA & Ms. Puja Somani, CAFor Respondent: Smt. Ranu Biswas, Addl. CIT
Section 115JSection 154Section 72

…IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH KOLKATA BEFORE SHRI A.T.VARKEY, JM &DR. A.L.SAINI, AM आयकरअपीलसं./ITA Nos.737 & 738/Kol/2018 ("नधा"रणवष" / Assessment Years:2009-10 & 2013-14) M/s Peerless Hospitex Hospital & Vs. DCIT, Circle-11(2), Kolkata 360, Panchsayar, Kolkata-700084 "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AABCP 7225 L (Appellant) .. (Respondent) Appellant by : Shri S. K. Tulsiyan, Advocate, Shri S. Dey, CA & Ms. Puja Somani, CA Respondent by :Smt. Ranu Biswas, Addl. CIT सुनवाईक"तार"ख/ Date of Hearing : 15/10/2019 घोषणाक"तार"ख/Date of Pronouncement : 11/12/2019 आदेश / O R D E R Per Dr. A. L…

Assistant Commissioner of Income Tax, Circle-2, Jaipur vs. M/S. Om Metal Infraproject Limited, Jaipur

In the result, appeals of the revenue are dismissed

ITA 1510/JPR/2018[2011-12]Status: DisposedITAT Jaipur27 Mar 2019AY 2011-12
For Appellant: Shri B.V. Maheshwari (CA)For Respondent: Shri Varinder Mehta (CIT-DR)
Section 10Section 115Section 115JSection 86

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh fot; iky jkWo] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM AND SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 1509 to 1512/JP/2018 fu/kZkj.k o"kZ@Assessment Years : 2010-11 to 13-14. cuke The ACIT, M/s. Om Metal Infraproject Ltd., Vs. Circle-2, Om Towers, Church Road, Jaipur. M.I. Road, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN No. AAACO 8245 J vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri B.V. Maheshwari (CA) jktLo dh vksj ls…

Assistant Commissioner of Income Tax, Circle-2, Jaipur vs. M/S. Om Metal Infraproject Limited, Jaipur

In the result, appeals of the revenue are dismissed

ITA 1509/JPR/2018[2010-11]Status: DisposedITAT Jaipur27 Mar 2019AY 2010-11
For Appellant: Shri B.V. Maheshwari (CA)For Respondent: Shri Varinder Mehta (CIT-DR)
Section 10Section 115Section 115JSection 86

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh fot; iky jkWo] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM AND SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 1509 to 1512/JP/2018 fu/kZkj.k o"kZ@Assessment Years : 2010-11 to 13-14. cuke The ACIT, M/s. Om Metal Infraproject Ltd., Vs. Circle-2, Om Towers, Church Road, Jaipur. M.I. Road, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN No. AAACO 8245 J vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri B.V. Maheshwari (CA) jktLo dh vksj ls…

Karanja Terminal & Logistics P. Ltd, Mumbai vs. DCIT Cen Cir 6(3), Mumbai

The appeal of the assessee is allowed

ITA 2472/MUM/2018[2013-14]Status: DisposedITAT Mumbai20 Mar 2019AY 2013-14

Bench: Shri Rajesh Kumar, Hon'Ble Accountantmember & Shri Ramlal Negi, Hon'Ble Judicialmember

For Appellant: Shri J.P. BairagraFor Respondent: Shri B. Srinivas
Section 115JSection 147Section 148

…CIT, Circle-2 V/s. Shree Cement Ltd., ITA NO.614, 615 & 635/JP/2010,152 ITR 561(Jaipur Tri) vii) Shree Cement Ltd. V/s. Addl. Commissioner of Income Tax, 152 ITD 561(Jai Tri) viii)Veekaylal Investment Co. Pvt.Ltd. 249 ITR 597(Bom) ix) JSW Steel Ltd. Vs. ACIT, 82 Taxmann.com 210 (Mumbai Tri) x) Bisleri Sales Ltd v/s. CIT, 377 ITR 144(Bom) xi) Veekaylal Investment Co. Pvt. Ltd. 249 ITR 597 (Bom) was distinguished. M/s. Karanja Terminal & Logistics Pvt. Ltd., The ld AR submitted that that in the Asst year 13-14 & 14-15 interest earned was credited to the P&L account but, at the same time, in the notes attached to t…

Assistant Commissioner of Income Tax, Circle-2, Jaipur vs. M/S. Om Metal Infraproject Limited, Jaipur

In the result, appeal of the revenue is dismissed

ITA 759/JPR/2018[2014-15]Status: DisposedITAT Jaipur15 Aug 2018AY 2014-15

Bench: The Hon’Ble Apex Court In Cit V/S M/S Sbbj In Slp (C) No. 16249/2014? (Ii) Whether On The Facts & Circumstances Of The Case & In Law The Ld. Cit(A) Was Justified In Deleting The Disallowance Of Rs. 44,02,000/- U/S 14A R.W.R 8D Of The I.T. Act When The Assessee Has

For Appellant: Shri B.V. Maheshwari (CA)For Respondent: Shri Varinder Mehta (CIT-DR) fu/kZkfjrh dh vksj ls@
Section 115JSection 14A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh fot; iky jko] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 759/JP/2018 fu/kZkj.k o"kZ@Assessment Year :2014-15 cuke Assistant Commissioner M/s Om Metal Infraproject Ltd., Vs. of Income Tax, Om Tower, M.I. Road, Church Circle-2, Jaipur. Road, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAACO 8245 J vihykFkhZ@Appellant izR;FkhZ@Respondent jktLo dh vksj ls@ Revenue by : Shri Varinder Mehta (CIT-DR) fu/kZkfjrh dh…

ACIT, Chennai vs. Continuum Wind Energy (India) Pvt. Ltd., Chennai

In the result, the appeal filed by the assessee is partly allowed while the Revenue’s appeal is dismissed

ITA 211/CHNY/2017[2013-14]Status: DisposedITAT Chennai16 Jun 2017AY 2013-14

Bench: Shri N.R.S. Ganesan & Shri S. Jayaraman

For Appellant: Sh. B. Ramakrishnan, CAFor Respondent: Sh. Sreenivasan, JCIT
Section 43A

…. Hence, according to the Ld. repreuusentative, depreciation has to be allowed on the enhanced value of capital asset. The Ld. representative has also placed his reliance on the decision of Bangalore Bench of this Tribunal in JSW Steel Ltd. v. ACIT (2010) 133 TTJ 742. 6. On the contrary, Shri Sreenivasan, the Ld. Departmental Representative, submitted that he is placing his reliance on the order of the CIT(Appeals). The Ld. D.R. further submitted that in view of Section 43A of the Income-tax Act, 1961 (in short 'the Act'), the CIT(Appeals) has rightly found that the loss suffered by the assessee in foreign…

Continuum Wind Energy (India) Pvt. Ltd., Chennai vs. DCIT, Chennai

In the result, the appeal filed by the assessee is partly allowed while the Revenue’s appeal is dismissed

ITA 3344/CHNY/2016[2013-14]Status: DisposedITAT Chennai16 Jun 2017AY 2013-14

Bench: Shri N.R.S. Ganesan & Shri S. Jayaraman

For Appellant: Sh. B. Ramakrishnan, CAFor Respondent: Sh. Sreenivasan, JCIT
Section 43A

…. Hence, according to the Ld. repreuusentative, depreciation has to be allowed on the enhanced value of capital asset. The Ld. representative has also placed his reliance on the decision of Bangalore Bench of this Tribunal in JSW Steel Ltd. v. ACIT (2010) 133 TTJ 742. 6. On the contrary, Shri Sreenivasan, the Ld. Departmental Representative, submitted that he is placing his reliance on the order of the CIT(Appeals). The Ld. D.R. further submitted that in view of Section 43A of the Income-tax Act, 1961 (in short 'the Act'), the CIT(Appeals) has rightly found that the loss suffered by the assessee in foreign…

JSW Steel Ltd. v. ACIT (82 Taxmann.com 210) — Cited in 12 Judgments | BharatTax