Jute Corporation of India Ltd. v. CIT

M.P.Re-Cycling Co. Pvt Ltd, Mumbai vs. Assistant Commissioner of Income Tax, Central Circle-1(4), Mumbai

In the result, appeal of the assessee is allowed

…(A), assessee has raised additional ground on the issue of notice u/s. 143(2) being barred by limitation, however refused to admit the additional ground following the judgments of the Hon’ble Supreme Court in the case of Jute Corporation of India Ltd. vs. CIT 187 ITR 688. In so far as issue relating to disallowance of carried forward of losses, he rejected the assessee’s contention holding that the ld. AO has rightly treated the return of income filed by the assessee on 14/10/2016 as invalid. According to him, since assessee has filed the return of income beyond the time limit u/s. 139(1), the ld. AO was correct…

Tech Mahindra Business Services Ltd., Mumbai vs. The Assistant Commissioner of Income Tax, Circle-13(3)(2), Mumbai

In the result, appeal by the assessee is partly allowed

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं.1256/मुं/ 2022 (िन.व.2017-18) Tech Mahindra Business Services Limited. Ground Floor, Spectrum Towers, Mindspace, Chincholi Bunder Link Road, Malad West, Mumbai – 400 064. Pan: Aabch-8136-L ...... अपीलाथ" /Appellant बनाम Vs. The Assistant Commissioner Of Income Tax, Circle – 13(3)(2), Room No.229, 2Nd Floor, Aaykar Bhavan, Mk Road, Mumbai – 400 020. ..... "ितवादी/Respondent अपीलाथ" "ारा/ Appellant By : Shri J.D,Mistri, Sr. Advocate With Shri Harsh Kapadia, Advocate "ितवादी "ारा/Respondent By : Ms. Richa Gulati, Sr.Ar सुनवाई क" ितिथ/ Date Of Hearing : 28/04/2023 घोषणा क" ितिथ/ Date Of Pronouncement : 24/07/2023 आदेश आदेश/ Order आदेश आदेश Per Vikas Awasthy, Jm: This Appeal By The Assessee Is Directed Against The Order Of Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [In Short ‘The Cit(A)’] Dated 30/03/2022, For The Assessment Year 2017-18. 2. The Assessee In Appeal Has Raised Solitary Ground Assailing Disallowance Made U/S. 14A Of Income Tax Act, 1961 (In Short ‘The Act’) R.W. Rule 8D Of The Income Tax Rules, 1962 (In Short ‘The Rules’) Amounting To Rs.80,08,567/-. The Assessee Vide Application Dated 13/09/2022 Has Raised An Additional Ground

…dy on record and no fresh documentary evidence is required to be furnished for adjudication of the said ground. The ld.Counsel for the assessee placed reliance on various decisions including the decision rendered in the case of Jute Corporation of India Ltd., 187 ITR 688(SC), New India Industries Ltd., 207 ITR 1010 (Guj) and Contoller of Estate Duty vs. R. Brahadeeswaran, 163 ITR 680 (Mad) for admission of additional ground. 4. Ms. Richa Gulati representing the Department vehemently opposed admission of additional ground at this belated stage. 5. We have heard the submissions made by rival sides on the admissio…

Abbott India Ltd, Mumbai vs. Addl CIT RG 7(2), Mumbai

In the result appeal filed by the assessee for both the assessment years are allowed

Bench: Shri Prashant Maharishi, Am & Shri Narender Kumar Chaudhary, Jm Ita No. 2032/Mum/2014 (Assessment Year2009-10)

…of law. It can be admitted at any time during the pendency of the appeal. The assessee relied on the decision of the Hon'ble Supreme Court in case of National Thermal Power Co. Ltd. Vs. CIT (1998) 229 ITR 383 (SC), Jute Corporation of India Ltd. v. CIT (1991) 187 ITR 688 (SC) and Full Bench decision of the Hon'ble Bombay High Court in case of ITA Nos.7778/M/12 & 2032/M/13 Abbott India Ltd; A.Ys. 08-09 & 09-10 Ahmadabad Electricity Company Ltd. Vs. CIT (1993) 199 ITR 351 (Bom). 7. The learned Authorized Representative reiterated the above submission and requested that additional ground may be admitted. 8. The le…

Abbott India Ltd.(Solvay Pharma India Ltd), Mumbai vs. Addl.C.I.T. RG.7(2), Mumbai

In the result appeal filed by the assessee for both the assessment years are allowed

Bench: Shri Prashant Maharishi, Am & Shri Narender Kumar Chaudhary, Jm Ita No. 2032/Mum/2014 (Assessment Year2009-10)

…of law. It can be admitted at any time during the pendency of the appeal. The assessee relied on the decision of the Hon'ble Supreme Court in case of National Thermal Power Co. Ltd. Vs. CIT (1998) 229 ITR 383 (SC), Jute Corporation of India Ltd. v. CIT (1991) 187 ITR 688 (SC) and Full Bench decision of the Hon'ble Bombay High Court in case of ITA Nos.7778/M/12 & 2032/M/13 Abbott India Ltd; A.Ys. 08-09 & 09-10 Ahmadabad Electricity Company Ltd. Vs. CIT (1993) 199 ITR 351 (Bom). 7. The learned Authorized Representative reiterated the above submission and requested that additional ground may be admitted. 8. The le…