Karnataka State Industrial Infrastructure Development Corporation Ltd. v. DCIT

76 Taxmann.com 360Income Tax Appellate Tribunal2016#8538 most cited

What is Karnataka State Industrial Infrastructure Development Corporation Ltd. v. DCIT authority for?

The expression 'any income' in Section 10(38) refers to long-term capital gains computed under Section 48, which includes the indexed cost of acquisition. This principle applies when computing book profits under Section 115JB.

13

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2018 to 2025.

Also referred to as

Karnataka State Industrial Infrastructure Development Corporation Ltd. v. DCIT · section 115JB · section 10(38) · long term capital gains · section 48 · indexation · book profit · MAT

Sections most often in play

Section 115JBSection 37(1)Section 14ASection 2(24)(xviii)Section 36(1)(va)Section 43BSection 80-IESection 80JJAA

Issues it is cited on

section 2(24)(xviii)section 14a disallowancereal income theorysection 80jjasection 80jjaamat creditprohibited by lawweighted deductionindexed cost of acquisitiontransfer of capital assetsection 48section 45

Judgments citing Karnataka State Industrial Infrastructure Development Corporation Ltd. v. DCIT

Eris Lifesciences Limited, Ahmedabad vs. NFAC, Delhi (Present Jurisdiction- the Dy. CIT, Circle-2(1)(1)), Ahmedabad

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

ITA 915/AHD/2025[2022-23]Status: DisposedITAT Ahmedabad09 Dec 2025AY 2022-23

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

For Appellant: Respondent by: Shri R P Rastogi, CIT-DR & Shri Abhijit, Sr. DRFor Respondent: Shri R P Rastogi, CIT-DR & Shri Abhijit, Sr. DR
Section 14ASection 36(1)(va)Section 37(1)Section 43BSection 80

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE DR. BRR KUMAR, VICE PRESIDENT & SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. Nos.847 to 850/Ahd/2025 (Assessment Years: 2018-19 & 2020-21 to 2022-23) Deputy Commissioner of Vs. Eris Lifesciences Ltd. Income Tax, Shivarth Ambit, Circle-2(1)(1), 142/2, Ram Das Road, Ahmedabad Off. SBR Nr. Swati Bunglows, Bodakdev, Ahmedabad-380054 [PAN No.AABCE7067M] (Appellant) .. (Respondent) I.T.A. Nos.912 to 915/Ahd/2025 (Assessment Years: 2018-19 & 2020-21 to 2022-23) Eris Lifesciences Ltd. Vs. National Faceless Appeal Shivarth Ambit, Center (Delhi), Plot N…

Eris Lifesciences Limited, Ahmedabad vs. NFAC, Delhi (Present Jurisdiction - the Dy. CIT, Circle-2(1)(1)), Ahmedabad

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

ITA 913/AHD/2025[2020-21]Status: DisposedITAT Ahmedabad09 Dec 2025AY 2020-21

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

For Appellant: Respondent by: Shri R P Rastogi, CIT-DR & Shri Abhijit, Sr. DRFor Respondent: Shri R P Rastogi, CIT-DR & Shri Abhijit, Sr. DR
Section 14ASection 36(1)(va)Section 37(1)Section 43BSection 80

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE DR. BRR KUMAR, VICE PRESIDENT & SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. Nos.847 to 850/Ahd/2025 (Assessment Years: 2018-19 & 2020-21 to 2022-23) Deputy Commissioner of Vs. Eris Lifesciences Ltd. Income Tax, Shivarth Ambit, Circle-2(1)(1), 142/2, Ram Das Road, Ahmedabad Off. SBR Nr. Swati Bunglows, Bodakdev, Ahmedabad-380054 [PAN No.AABCE7067M] (Appellant) .. (Respondent) I.T.A. Nos.912 to 915/Ahd/2025 (Assessment Years: 2018-19 & 2020-21 to 2022-23) Eris Lifesciences Ltd. Vs. National Faceless Appeal Shivarth Ambit, Center (Delhi), Plot N…

Eris Lifesciences Limited, Ahmedabad vs. NFAC, Dehi (Present Jurisdiction- the Dy.CIT, Circle-2(1)(1)), Ahmedabad

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

ITA 912/AHD/2025[2018-19]Status: DisposedITAT Ahmedabad09 Dec 2025AY 2018-19

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

For Appellant: Respondent by: Shri R P Rastogi, CIT-DR & Shri Abhijit, Sr. DRFor Respondent: Shri R P Rastogi, CIT-DR & Shri Abhijit, Sr. DR
Section 14ASection 36(1)(va)Section 37(1)Section 43BSection 80

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE DR. BRR KUMAR, VICE PRESIDENT & SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. Nos.847 to 850/Ahd/2025 (Assessment Years: 2018-19 & 2020-21 to 2022-23) Deputy Commissioner of Vs. Eris Lifesciences Ltd. Income Tax, Shivarth Ambit, Circle-2(1)(1), 142/2, Ram Das Road, Ahmedabad Off. SBR Nr. Swati Bunglows, Bodakdev, Ahmedabad-380054 [PAN No.AABCE7067M] (Appellant) .. (Respondent) I.T.A. Nos.912 to 915/Ahd/2025 (Assessment Years: 2018-19 & 2020-21 to 2022-23) Eris Lifesciences Ltd. Vs. National Faceless Appeal Shivarth Ambit, Center (Delhi), Plot N…

DCIT Circle-2(1)(1), Ahmedabad, Vejalpur vs. Eris Lifesciences Limited Shivarth Ambit, Bodakdev Ahmedabad

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

ITA 850/AHD/2025[2022-23]Status: DisposedITAT Ahmedabad09 Dec 2025AY 2022-23

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

For Appellant: Respondent by: Shri R P Rastogi, CIT-DR & Shri Abhijit, Sr. DRFor Respondent: Shri R P Rastogi, CIT-DR & Shri Abhijit, Sr. DR
Section 14ASection 36(1)(va)Section 37(1)Section 43BSection 80

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE DR. BRR KUMAR, VICE PRESIDENT & SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. Nos.847 to 850/Ahd/2025 (Assessment Years: 2018-19 & 2020-21 to 2022-23) Deputy Commissioner of Vs. Eris Lifesciences Ltd. Income Tax, Shivarth Ambit, Circle-2(1)(1), 142/2, Ram Das Road, Ahmedabad Off. SBR Nr. Swati Bunglows, Bodakdev, Ahmedabad-380054 [PAN No.AABCE7067M] (Appellant) .. (Respondent) I.T.A. Nos.912 to 915/Ahd/2025 (Assessment Years: 2018-19 & 2020-21 to 2022-23) Eris Lifesciences Ltd. Vs. National Faceless Appeal Shivarth Ambit, Center (Delhi), Plot N…

Dcie Circle-2(1)(1), Ahemdabad, Vejalpur vs. Eris Lifesciences Limited Shivarth Ambit, Bodakdev Ahmedabad

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

ITA 849/AHD/2025[2021-22]Status: DisposedITAT Ahmedabad09 Dec 2025AY 2021-22

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

For Appellant: Respondent by: Shri R P Rastogi, CIT-DR & Shri Abhijit, Sr. DRFor Respondent: Shri R P Rastogi, CIT-DR & Shri Abhijit, Sr. DR
Section 14ASection 36(1)(va)Section 37(1)Section 43BSection 80

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE DR. BRR KUMAR, VICE PRESIDENT & SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. Nos.847 to 850/Ahd/2025 (Assessment Years: 2018-19 & 2020-21 to 2022-23) Deputy Commissioner of Vs. Eris Lifesciences Ltd. Income Tax, Shivarth Ambit, Circle-2(1)(1), 142/2, Ram Das Road, Ahmedabad Off. SBR Nr. Swati Bunglows, Bodakdev, Ahmedabad-380054 [PAN No.AABCE7067M] (Appellant) .. (Respondent) I.T.A. Nos.912 to 915/Ahd/2025 (Assessment Years: 2018-19 & 2020-21 to 2022-23) Eris Lifesciences Ltd. Vs. National Faceless Appeal Shivarth Ambit, Center (Delhi), Plot N…

DCIT, Circle-2(1)(1) Ahmedabad, Ahmedabad vs. Eris Lifescience Limited Shivarth Ambit, Ahmedabad

In the result, for assessment year 2022-23, the appeal of the Department is partly allowed for statistical purposes

ITA 847/AHD/2025[2018-19]Status: DisposedITAT Ahmedabad09 Dec 2025AY 2018-19

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyal

For Appellant: Respondent by: Shri R P Rastogi, CIT-DR & Shri Abhijit, Sr. DRFor Respondent: Shri R P Rastogi, CIT-DR & Shri Abhijit, Sr. DR
Section 14ASection 36(1)(va)Section 37(1)Section 43BSection 80

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE DR. BRR KUMAR, VICE PRESIDENT & SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. Nos.847 to 850/Ahd/2025 (Assessment Years: 2018-19 & 2020-21 to 2022-23) Deputy Commissioner of Vs. Eris Lifesciences Ltd. Income Tax, Shivarth Ambit, Circle-2(1)(1), 142/2, Ram Das Road, Ahmedabad Off. SBR Nr. Swati Bunglows, Bodakdev, Ahmedabad-380054 [PAN No.AABCE7067M] (Appellant) .. (Respondent) I.T.A. Nos.912 to 915/Ahd/2025 (Assessment Years: 2018-19 & 2020-21 to 2022-23) Eris Lifesciences Ltd. Vs. National Faceless Appeal Shivarth Ambit, Center (Delhi), Plot N…

M/S Ludhiana Leasing Pvt. Ltd., Chandigarh vs. DCIT, CC-II, Chandigarh

In the result, the appeal of the assessee is treated as partly allowed

ITA 241/CHANDI/2023[2019-20]Status: DisposedITAT Chandigarh21 May 2024AY 2019-20

Bench: Shri Sanjay Garg & Shri Vikram Singh Yadavआयकर अपील सं./ Ita No. 241/Chd/2023 "नधा"रण वष" / Assessment Year : 2019-20 M/S Ludhiana Leasing Pvt.Ltd., बनाम The Dcit, Central Circle-Ii, #168, Sector 8, Chandigarh Chandigarh "थायी लेखा सं./Pan No: Aaacl6365N अपीलाथ"/Appellant ""यथ"/Respondent

For Appellant: Shri Tej Mohan Singh, AdvocateFor Respondent: Shri Rohit Sharma, CIT DR
Section 115J

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ, च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH, ‘A’, CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER & SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 241/CHD/2023 "नधा"रण वष" / Assessment Year : 2019-20 M/s Ludhiana Leasing Pvt.Ltd., बनाम The DCIT, Central Circle-II, #168, Sector 8, Chandigarh Chandigarh "थायी लेखा सं./PAN NO: AAACL6365N अपीलाथ"/Appellant ""यथ"/Respondent "नधा"रती क" ओर से/Assessee by : Shri Tej Mohan Singh, Advocate राज"व क" ओर से/ Revenue by : Shri Rohit Sharma, CIT DR सुनवाई क" तार"ख/Date of Hearing : 04.04.2024 उदघोषणा क"…

Thomas Cook (India) Ltd., Mumbai vs. Addl/ Jt/ Dy/CIT/Asstt/ITO, National E-Assessment Centre, Delhi

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

ITA 1218/MUM/2021[2016-17]Status: DisposedITAT Mumbai24 Nov 2023AY 2016-17

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Ble

Section 92CSection 92C(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “H”, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND MS. KAVITHA RAJAGOPAL, HON'BLE JUDICIAL MEMBER ITA NO. 752/MUM/2022 (A.Y. 2017-18) Thomas Cook (India) Limited v. Additional/Joint/Dy. /Asst., CIT National e-Assessment Centre Thomas Cook Building Delhi Dr. D.N. Road, Fort Mumbai - 400001 PAN: AAACT4050C (Appellant) (Respondent) Assessee Represented by : Shri J.D. Mistry Shri Madhur Agrawal & Shri Fenil Bhat Department Represented by : Shri K.C. Selvamani Date of Conclusion of Hearing : 26 & 27.09.2023 Date of Pronouncement : 24.11.2023 O R…

M/S United Breweries Ltd, Bangalore vs. Deputy Commissioner of Income Tax Circle-7(1)(1), Bangalore

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

ITA 481/BANG/2018[2012-13]Status: DisposedITAT Bangalore11 Nov 2022AY 2012-13

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

For Appellant: Sri.K.R.Vasudevan, AdvocateFor Respondent: Sri.K.Sankar Ganesh, JCIT –DR
Section 115JSection 143(2)Section 143(3)Section 14ASection 40Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “A”, BANGALORE Before Shri George George K, JM & Ms.Padmavathy S, AM ITA No.481/Bang/2018 : Asst.Year 2012-2013 M/s.United Breweries Limited The Deputy Commissioner of Level-4, UB Tower, UB City Income-tax, Circle 7(1)(1) v. No.24, Vittal Mallya Road Bangalore. Bangalore – 560 001. PAN : AAACU6053C. (Assessee) (Respondent) Assessee by : Sri.K.R.Vasudevan, Advocate Respondent by : Sri.K.Sankar Ganesh, JCIT –DR Date of Pronouncement : 11.11.2022 Date of Hearing : 02.11.2022 O R D E R Per George George K, JM : This appeal at the instance of the assessee is dir…

ACIT 2(2)(1), Mumbai vs. Mahima Stocks Pvt. Ltd., Mumbai

In the result, the orders passed by the Income Tax Appellate Tribunal to the extent it is against the assessee are hereby quashed

ITA 2486/MUM/2021[2015-16]Status: DisposedITAT Mumbai11 Aug 2022AY 2015-16

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singhacit – 2(2)(1) Vs. M/S Mahima Stocks Room No. 545, 5Th Floor Pvt Ltd Aayakarbhavan, 1,Gaureshapartments, M.K.Road, Old Police Line, Mumbai – 400020. Andheri (E) Mumbai – 400069. Pan/Gir No. : Aaecm2983K Appellant .. Respondent Appellant By : Smt.Mahita Nair.Dr Respondent By : Shri.Vimal Punmiya.Ar Date Of Hearing 10.08.2022 Date Of Pronouncement 24.08.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Revenue Has Filed The Appeal Against The Order Of The Cit(A)- National Faceless Appeal Centre (Nfac), Delhi Passed U/S143(3) & U/Sec250 Of The Act. The Revenue Has Raised The Following Grounds Of Appeal:

For Appellant: Smt.Mahita Nair.DRFor Respondent: Shri.Vimal Punmiya.AR
Section 115JSection 143(2)Section 143(3)Section 48

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ACIT – 2(2)(1) Vs. M/s Mahima Stocks Room No. 545, 5th Floor Pvt Ltd AayakarBhavan, 1,GaureshApartments, M.K.Road, Old Police Line, Mumbai – 400020. Andheri (E) Mumbai – 400069. PAN/GIR No. : AAECM2983K Appellant .. Respondent Appellant by : Smt.Mahita Nair.DR Respondent by : Shri.Vimal Punmiya.AR Date of Hearing 10.08.2022 Date of Pronouncement 24.08.2022 आदेश / O R D E R PER PAVAN KUMAR GADALE JM: The revenue has filed the appeal against the order of the CIT(A)- Natio…

M/S. Mbl A Capital Ltd., Kolkata vs. Principal Commissioner of Income Tax-2, Kolkata

In the result, the appeal of the assessee stands allowed

ITA 171/KOL/2022[2017-18]Status: DisposedITAT Kolkata27 Jun 2022AY 2017-18

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.171/Kol/2022 Assessment Year: 2017-18 M/S Mbl A Capital Ltd.………...... .........................................……….……Appellant 3Rd Floor, 135A, Biplabi Rash Behari Basu Road, Kolkata – 1. [Pan:Aaecs4852K] Vs. Pcit-2, Kolkata..……………..….…..…...............……........……...…..…..Respondent Appearances By: Shri S. K. Tulsiyan, Advocate, Appeared On Behalf Of The Appellant. Shri Amal Kamat, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : June 9, 2022 Date Of Pronouncing The Order : June 27, 2022

Section 115JSection 143(2)Section 143(3)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member I.T.A. No.171/Kol/2022 Assessment Year: 2017-18 M/s MBL A Capital Ltd.………...... .........................................……….……Appellant 3rd Floor, 135A, Biplabi Rash Behari Basu Road, Kolkata – 1. [PAN:AAECS4852K] vs. PCIT-2, Kolkata..……………..….…..…...............……........……...…..…..Respondent Appearances by: Shri S. K. Tulsiyan, Advocate, appeared on behalf of the appellant. Shri Amal Kamat, CIT-DR, appeared on behalf of the Respondent. Date of concluding the hearing : June…

Priapus Developers P.Ltd, New Delhi vs. ACIT, Circle-20(1), New Delhi

ITA 170/DEL/2019[2015-16]Status: DisposedITAT Delhi12 Mar 2019AY 2015-16
Section 10(38)Section 115JSection 143(3)Section 14ASection 154Section 49(2)

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘F’, New Delhi Before: Shri Amit Shukla, Judicial Member And Shri L.P. Sahu, Accountant Member Assessment Year: 2015-16 Priapus Developers P. Ltd., Plot vs. ACIT, Circle 20(1), No. 103-A, 1st Floor, New Delhi Mahipalpur Extension, New Delhi. (Respondent) PAN- AAFCP 2747R (Appellant) Appellant by Sh. S.K. Tulsiyan, Advocate Respondent Sh. J.K. Mishra, CIT/DR by Date of Hearing 9.02.2019 Date of Pronouncement 12.03.2019 ORDER Per Amit Shukla, JM: Aforesaid appeal has been filed by the assessee against the impugned order dated 05.12.2018, passed by the Ld. CI…

Income Tax Officer-11(1)(3), Mumbai vs. Savannah Real Estate Private Limited, Mumbai

Appeal is dismissed without costs

ITA 6310/MUM/2017[2013-14]Status: DisposedITAT Mumbai07 Feb 2018AY 2013-14

Bench: Shri D.T. Garasiaassessment Year: 2013-14 Income Tax Officer-11(1)(3), M/S. Savannah Real Estate Pvt. Room No.201, Ltd., Aayakar Bhavan, Vs. 401/B, West View, M.K. Marg, Bajaj Road, Vile Parle, Mumbai – 400 020 Mumbai-400 057 Pan: Aaics6458B (Appellant) (Respondent) Present For: Assessee By : Shri B.V. Jhaveri, A.R. Revenue By : Ms. Aarjoo Garadia, D.R. Date Of Hearing : 16.01.2018 Date Of Pronouncement : 07.02.2018 O R D E R

For Appellant: Shri B.V. Jhaveri, A.RFor Respondent: Ms. Aarjoo Garadia, D.R
Section 10(38)Section 11Section 115JSection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “SMC”, MUMBAI BEFORE SHRI D.T. GARASIA, JUDICIAL MEMBER Assessment Year: 2013-14 Income Tax Officer-11(1)(3), M/s. Savannah Real Estate Pvt. Room No.201, Ltd., Aayakar Bhavan, Vs. 401/B, West View, M.K. Marg, Bajaj Road, Vile Parle, Mumbai – 400 020 Mumbai-400 057 PAN: AAICS6458B (Appellant) (Respondent) Present for: Assessee by : Shri B.V. Jhaveri, A.R. Revenue by : Ms. Aarjoo Garadia, D.R. Date of Hearing : 16.01.2018 Date of Pronouncement : 07.02.2018 O R D E R Per D.T. Garasia, Judicial Member: The present appeal has been preferred by the Revenue against t…