Kedarnath Jute Mfg. Co. Ltd. v. CIT

82 ITR 363Supreme Court of India1971#89 most cited

What is Kedarnath Jute Mfg. Co. Ltd. v. CIT authority for?

Tax liability for an item of income or expenditure is determined solely by the provisions of the Income-tax Act. Entries in an assessee's books of account are not conclusive and do not govern the taxability or deductibility of an item, as the legal rights and obligations under the Act prevail.

654

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 1998 to 2026.

Also referred to as

Kedarnath Jute Mfg. Co. Ltd. v. CIT · 82 ITR 363 SC · tax liability · accounting entries · books of account · Income-tax Act provisions · tax law vs accounting · section 145 · mercantile system · book profits · section 115JB · section 37(1) · section 43B

Sections most often in play

Section 143(3)Section 1961Section 37(1)Section 43BSection 14ASection 115JBSection 143(1)Section 145
Read the full judgment

Issues it is cited on

section 80hhcsection 80hhbook profitsrevenue expendituresection 80iamercantile system of accountingcapital expendituresection 115jsection 80idisallowance under section 14asection 37(1)section 115jb

Judgments citing Kedarnath Jute Mfg. Co. Ltd. v. CIT

DCIT, Gurgaon vs. M/S Planet Edu. (P) Ltd., Gurgaon

ITA 3574/DEL/2015[2010-11]Status: DisposedITAT Delhi31 Jan 2020AY 2010-11

Bench: Shri Kuldip Singh & Dr. B.R.R. Kumar

For Appellant: Shri Sanjay Sood, CAFor Respondent: Shri Saras Kumar, Senior DR
Section 145(3)Section 40A(2)(b)

…ed these expenditure incurred on Project EDEXCEL and held the same of revenue in nature following the decisions of the Hon’ble Supreme Court in cases of Kedarnath 15 ITA Nos.3472 & 3473/Del./2015 ITA Nos.3702 & 3574/Del./2015 Jute Manufacturing Co. vs. CIT 82 ITR 363 and CIT vs. Indian Discounts Co. Ltd. 75 ITR 91. Order passed by the ld. CIT (A) was challenged by the Revenue before the Tribunal who has remanded the matter back to AO and AO vide assessment order dated 11.05.2016, available at pages 57 to 59 of the paper book, accepted the claim of the assessee qua Project EDEXCEL expenses, thus the issue…

M/S. Planet Edu Pvt. Ltd., Gurgaon vs. DCIT, Gurgaon

ITA 3473/DEL/2015[2010-11]Status: DisposedITAT Delhi31 Jan 2020AY 2010-11

Bench: Shri Kuldip Singh & Dr. B.R.R. Kumar

For Appellant: Shri Sanjay Sood, CAFor Respondent: Shri Saras Kumar, Senior DR
Section 145(3)Section 40A(2)(b)

…ed these expenditure incurred on Project EDEXCEL and held the same of revenue in nature following the decisions of the Hon’ble Supreme Court in cases of Kedarnath 15 ITA Nos.3472 & 3473/Del./2015 ITA Nos.3702 & 3574/Del./2015 Jute Manufacturing Co. vs. CIT 82 ITR 363 and CIT vs. Indian Discounts Co. Ltd. 75 ITR 91. Order passed by the ld. CIT (A) was challenged by the Revenue before the Tribunal who has remanded the matter back to AO and AO vide assessment order dated 11.05.2016, available at pages 57 to 59 of the paper book, accepted the claim of the assessee qua Project EDEXCEL expenses, thus the issue…

M/S. Planet Edu Pvt. Ltd., Gurgaon vs. JCIT, Gurgaon

ITA 3472/DEL/2015[2009-10]Status: DisposedITAT Delhi31 Jan 2020AY 2009-10

Bench: Shri Kuldip Singh & Dr. B.R.R. Kumar

For Appellant: Shri Sanjay Sood, CAFor Respondent: Shri Saras Kumar, Senior DR
Section 145(3)Section 40A(2)(b)

…ed these expenditure incurred on Project EDEXCEL and held the same of revenue in nature following the decisions of the Hon’ble Supreme Court in cases of Kedarnath 15 ITA Nos.3472 & 3473/Del./2015 ITA Nos.3702 & 3574/Del./2015 Jute Manufacturing Co. vs. CIT 82 ITR 363 and CIT vs. Indian Discounts Co. Ltd. 75 ITR 91. Order passed by the ld. CIT (A) was challenged by the Revenue before the Tribunal who has remanded the matter back to AO and AO vide assessment order dated 11.05.2016, available at pages 57 to 59 of the paper book, accepted the claim of the assessee qua Project EDEXCEL expenses, thus the issue…

ACIT, New Delhi vs. M/S Swatch Group (India) Pvt. Ltd., New Delhi

In the result, the appeal of the Revenue in ITA No

ITA 2264/DEL/2009[2004-05]Status: DisposedITAT Delhi30 Jan 2020AY 2004-05

Bench: Shri N.K. Billaiya & Shri N.K. Choudhary[Assessment Year: 2004-05]

For Appellant: Shri Nageshwar Rao, AdvFor Respondent: Shri Dinesh Antil, Sr. DR

…gned order). In the said decision, the Special Bench of the Tribunal has considered a number of judgments including Alambic Chemicals Works Co. Ltd.v CIT 177 ITR 377, Madras Industrial Development Corporation 225 ITR 802, Kedarnath Jute Manufacturing Co. Ltd. 82 ITR 363 and Amar Raja Batteries Ltd. v ACIT 91 ITD 2080, Hyderabad etc. We are of the considered opinion that the expenditure incurred on advertisements in the aforesaid manner has to be treated as revenue in the nature and was therefore fully allowable. This issue has been considered by this Court as well in detail in The CIT-V vs. M/s Pepsico India Hold…

Income Tax Officer-23(1)(2), Mumbai vs. Indian Corporate Loan Securities Trust 2008 Series 14, Mumbai

In the result, Revenue's appeal for A

ITA 4789/MUM/2017[2010-11]Status: DisposedITAT Mumbai29 Jan 2020AY 2010-11

Bench: Shri M.Balaganesh, Am & Shri Ravish Sood, Jm The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust 2008 Matru Mandir Series 14 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block 3Rd Floor, Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat16786P (Appellant) .. (Respondent) The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust Series Iii Matru Mandir 2009 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat17440L (Appellant) .. (Respondent) The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust Series Matru Mandir 2008 Series 36 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat16925L (Appellant) .. (Respondent) आदेश / O R D E R Per Bench: These Appeals In Ita No.4789/Mum/2017, 4791/Mum/2017 & 4794/Mum/2017 For A.Y.2010-11 Arise Out Of The Order By The Ld. Commissioner Of Income Tax (Appeals)-32, Mumbai In Appeal No.Cit(A)- 32/It-604/23(1)(2)/2015-16, Cit(A)-32/It-48/19(3)(2)/2012-13 & Cit(A)-32/It-483/Ito-19(3)(4)/12-13 Respectively Dated 24/04/2017 (Ld. Cit(A) In Short) Against The Order Of Assessment Passed U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As Act) Dated 26/02/2016, 31/10/2012 Respectively By The Ld. Income Tax Officer – 23(1)(2) & 19(3)(2) Respectively, Mumbai (Hereinafter Referred To As Ld. Ao).

Section 10Section 143(3)Section 148Section 161Section 161(1)Section 61

…ed. It was also submitted that it is well established proposition that entries in the books of accounts are not determinative of taxability of income and reilied on the decision of the Hon'ble Supreme Court in case of Kedarnath Jute Mfg. Co. Ltd. v. CIT[1971] 82 ITR 363. 8.4.2 The Learned Senior Counsel for the assessee sought to distinguish, as not applicable, the decisions cited by Revenue, as under:— (i) CIT v. Sitaldas Tirathdas[1961] 41 ITR 367 (SC) - (Department's paper book, Vol. II - Exhibit 22 - pg. 199) It is argued that in the cited case an overriding charge was not created whereas in the case on hand…

Madhya Pradesh Poorve Keshtra Vidyut Vitran Co.Ltd., Jabalpur vs. Assistant Commissioner of Income Tax Circle 2(1), Jabalpur

In the result, the assessee’s appeal is dismissed

ITA 71/JAB/2016[2008-09]Status: DisposedITAT Jabalpur20 Jan 2020AY 2008-09

Bench: Shri Bhavnesh Saini & Shri Sanjay Aroraassessment Year: 2008-09 Madhya Pradesh Poorv Kshetra Vs. Assistant Commissioner Of Vidyut Vitran Co. Ltd., Income Tax, Jabalpur Circle 2(1), [Pan: Aadcm 6175E] Jabalpur (Appellant) (Respondent) Appellant By Shri Sukesh Kumar, Ca Respondent By Shri I.B. Khandel, Senior Dr Date Of Hearing 11/12/2019 Date Of Pronouncement 20/01/2020

Section 115WSection 17(2)

…without doubt, it is the correct legal position that is relevant, and not the view that the parties may take of their rights in the matter [see, inter alia, CIT v. C. Parakh & Co. (India) Ltd. [1956] 29 ITR 661 (SC); Kedarnath Jute Mfg. Co. Ltd. v. CIT [1971] 82 ITR 363 (SC)]. The tax payable on the perquisite to its’ employees, is, however, in view of s. 192 r/w s.4, by the assessee-employer, i.e., by and on behalf of the employees, and which it has not, and neither have the employees admittedly paid tax thereon. It is therefore not open for it to contend, as it does before the Hon’ble High Court, that the same…

The Jute Corporation of India Ltd., Kolkata vs. ITO, Ward - 1(3), Kolkata

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

ITA 2428/KOL/2017[2011-12]Status: DisposedITAT Kolkata10 Jan 2020AY 2011-12

Bench: Shri P.M. Jagtap(Kz) & Shri A. T. Varkey, Jm]

Section 43B

…uch by the assessee. (8) The concept of real income is certainly applicable in judging whether there has been income or not but, in every case, it must be applied with care and within well- recognized limits. In the case of Kedarnath jute Mfg. Co. Ltd. (1971) 82 ITR 363 (Sc), the Hon’ble Apex Court has held that whether the assessee is entitled to a particular deduction or not will depend on the provision of law relating thereto and not on the view which the assessee might take of his rights; nor can the existence or absence of entries in his books of account be decisive or conclusive in the matter. In tile case…

Mumbai International Airport P.Ltd, Mumbai vs. DCIT 10(2)(2), Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 2018/MUM/2018[2013-14]Status: DisposedITAT Mumbai10 Jan 2020AY 2013-14

Bench: Shri G. Manjunatha & Shri Ravish Soodmumbai International Airport Vs. Dcit,Circle-10(2)(2) Private Limited Room No.209,Aaykar Bhawan Finance Department M.K.Road 1St Floor, Terminal 1B Mumbai-400 020 Chhatrapati Shivaji Internaitonal Airport Santacruz (E) Mumbai-400 099 Pan/Gir No.Aaecm6285C (Appellant) .. (Respondent) & Dcit-10(2)(2) Vs. Mumbai International Room No.216-A,Aaykar Bhawan Airport Private Limited M.K.Road Finance Department, 1St Floor, Terminal 1B Mumbai-400 020 Chhatrapati Shivaji Internaitonal Airport Santacruz (E) Mumbai-400 099

Section 143(3)Section 14ASection 40

…ully considered the same along with the orders of the authorities below. We have also gone through various judgments as has been to before us as well as the CIT(A). It is a settled law, in view of the decision of Kedarnath Jute Manufacturing Co. Ltd. vs. CIT (82 ITR 363), that assessee’s entitlement to a particular deduction or not, will depend on the provision of law relating thereto and not on the view which the assessee might take of his rights nor can existence or absence of entries in the books of accounts be decisive or conclusive in the matter. We have also gone through the decision of Hon’ble Supreme cour…

ACIT, Circle - 2(2), Kolkata vs. M/S. West Bengal State Electricity Distribution Co. Ltd., Kolkata

In the result, the appeal of the Revenue is dismissed, while the appeal of the assessee is allowed

ITA 386/KOL/2018[2012-13]Status: DisposedITAT Kolkata31 Dec 2019AY 2012-13

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

Section 14ASection 32(1)(iia)

…I.T.A. No. 150/KOL/2018 Assessment Year: 2012-2013 & I.T.A. No. 386/KOL/2018 Assessment Year: 2012-2013 West Bengal State Electricity Distribution Co. Limited (Formerly West Bengal State Electricity Board) IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘A’ BENCH, KOLKATA Before Shri P.M. Jagtap, Vice-President and Shri A.T. Varkey, Judicial Member I.T.A. No. 150/KOL/2018 Assessment Year: 2012-2013 West Bengal State Electricity Distribution Co. Limited,.................Appellant (Formerly West Bengal State Electricity Board), Bidyut Bhawan, Sector-II, Block-DJ, Bidhan Nagar, Kolkata-700 091 [PAN:AAACW6953…

West Bengal State Electricity Distribution Co. Ltd., Kolkata vs. DCIT, Circle - 2(2), Kolkata

In the result, the appeal of the Revenue is dismissed, while the appeal of the assessee is allowed

ITA 150/KOL/2018[2012-13]Status: DisposedITAT Kolkata31 Dec 2019AY 2012-13

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

Section 14ASection 32(1)(iia)

…I.T.A. No. 150/KOL/2018 Assessment Year: 2012-2013 & I.T.A. No. 386/KOL/2018 Assessment Year: 2012-2013 West Bengal State Electricity Distribution Co. Limited (Formerly West Bengal State Electricity Board) IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘A’ BENCH, KOLKATA Before Shri P.M. Jagtap, Vice-President and Shri A.T. Varkey, Judicial Member I.T.A. No. 150/KOL/2018 Assessment Year: 2012-2013 West Bengal State Electricity Distribution Co. Limited,.................Appellant (Formerly West Bengal State Electricity Board), Bidyut Bhawan, Sector-II, Block-DJ, Bidhan Nagar, Kolkata-700 091 [PAN:AAACW6953…

Rmc Readymix (India) P.Ltd, Mumbai vs. Asst CIT Cen Cir 34, Mumbai

In the result, appeal filed by the assessee for assessment year 2009-

ITA 3562/MUM/2016[2009-10]Status: DisposedITAT Mumbai20 Dec 2019AY 2009-10

Bench: Shri G. Manjunatha (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2009-10 Rmc Readymix (India) P. Ltd., The Assistant Commissioner Of (Now Amalgamated With Prism Income Tax, Central Circle 34, Cement Limited), Central Circle- 34, Windsor, 7Th Floor, C.S.T. Road, Vs. Aayakar Bhavan, M.K. Road, Near Vidyanagari, Kalina, Mumbai - 400020 Santacruz (E), Mumbai - 400098 Pan: Aaacr4938D (Appellant) (Respondent) Assessee By : Shri Nitesh Joshi (Advocate) Revenue By : Shri Arju Garodia (Dr) Date Of Hearing: 01/10/2019 Date Of Pronouncement: 20/12/2019

For Appellant: Shri Nitesh Joshi (Advocate)For Respondent: Shri Arju Garodia (DR)
Section 115JSection 143

…them in business, it is an allowable expenditure. Accounting treatment has nothing to do with such allowance as has been rightly pointed out by the A.R. quoting CBDT Circular and Supreme Court decision in the case of Kedarnath Jute Mfg. Co Ltd. vs. CIT (1971) 82 ITR 363. As such the A.O directed to allow the expenditure as claimed by the appellant on this issue. 7. We further notice that in the subsequent assessment years i.e. for the AY 2004-05 and 2005-06, the then Commissioners (Appeals) allowed the identical claim of the assessee by following the decision of their predecessor passed in the assessee’s own cas…

ACIT, Meerut vs. M/S. Sarva Up Gramin Bank, Meerut

In the result, the appeal of the Revenue is dismissed

ITA 1937/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Dec 2019AY 2012-13

Bench: Sh. Bhavnesh Saini & Dr. B. R. R. Kumar

For Appellant: Sh. Vivek Gupta, CAFor Respondent: Ms. Ashima Neb, Sr. DR
Section 36(1)(viia)

…isive or conclusive in the matter. Further it is also a settled law that accounting practices cannot override the provisions of the Income Tax Act. This has been so held by various courts. Instances are as under: a. Kedarnath Jute Mfg. Co. Ltd. vs. CIT (1971) 82 ITR 363 (SC) b. Sutlej Cotton Mills Ltd. vs. CIT (1979) 116 ITR 1 (SC) c. State bank of India vs. CIT (1986) 157 ITR 67 (SC) d. Tuticorin Alkali Chemicals & Fertilizers Ltd. vs. CIT (1997) 227 ITR 172 (SC) 5 M/s Sarva UP Gramin Bank e. CIT vs. Valikundam Rubber Co. Ltd. (2000) 241 ITR 50 (Ker.) 2. In column no. 6 of part OI of ITR, we have disallowed the…

M/S. Southern Petrochemical Industries Corporation Ltd., Chennai vs. ACIT, Chennai

In the result, the appeal filed by the assessee in ITA No

ITA 937/CHNY/2008[2003-04]Status: DisposedITAT Chennai12 Dec 2019AY 2003-04

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar"नधा(रण वष( /Assessment Year: 2003-04

For Appellant: Mr. M.Srinivasa Rao, CITFor Respondent: 16.09.2019
Section 143(3)Section 263

…the ratio of decision of the Supreme Court in Malabar Industrial Company Ltd., Vs CIT (243 ITR 83), the twin conditions of Section 263 are duly satisfied in this regard. The Apex Court had held in the case of Kedaranath Jute Manufacturing Company Ltd., Vs CIT(82 ITR 363) that only such expenditure that accrues in a year under mercantile system of accounting is allowable as a deduction from the profits of that year. This ratio was again confirmed by the Supreme Court in the case of CIT Vs M/s Kalinga Tubes Ltd.,(218 ITR 164).Thus any expenditure not being capital in nature laid out expanded wholly and exclusively…

The Hongkong & Shanghai Banking Corporation Ltd, Navi Mumbai vs. ADIT (It) RG-3(1), Mumbai

In the result, appeal filed by the assessee is partly allowed and appeal filed by the revenue is dismissed

ITA 3996/MUM/2009[2003-04]Status: DisposedITAT Mumbai27 Nov 2019AY 2003-04

Bench: Shri M.Balaganesh, Am & Shri Ravish Sood, Jm & Adit (It) 3(1) Vs. The Hongkong & Scindia House, Shanghai Banking R.No.132, 1St Floor Corporation Ltd N.M.Road, 52/60, Mahatma Gandhi Mumbai – 38 Road Mumbai – 400 001 Pan/Gir No. Aaact2786P (Appellant) .. (Respondent) & The Hongkong & Vs. Adit (It) 3(1) Shanghai Banking Scindia House, R.No.132, 1St Floor Corporation Ltd 52/60, Mahatma Gandhi N.M.Road, Road Mumbai – 38 Mumbai – 400 001 Pan/Gir No. Aaact2786P (Appellant) .. (Respondent)

Section 143(3)Section 192Section 37Section 44C

…as made to CIT vs. Emirates Commercial Bank Ltd. 262 ITR 55 [Bom] and it was also observed that as far as the question of expenditure not being debited in the books of account is concerned, this is not really relevant in the light of Kedarnath Jute Mills Ltd. 82 ITR 363 [SC] and so long as the expenditure is really incurred and is otherwise deductible, the deduction cannot be declined on the ground that it has not been debited in the books of account. 9. Therefore, in view of the decision of the Hon'ble Bombay High Court in vs. Emirates Commercial Bank Ltd. 262 ITR 55, it has to been seen whether the expenditure…

M/S Niit Ltd., New Delhi vs. DCIT, New Delhi

In the result, ITA.No.2801/Del

ITA 2801/DEL/2017[2009-10]Status: DisposedITAT Delhi01 Nov 2019AY 2009-10

Bench: Shri Bhavnesh Saini, J.M. & Shri O.P. Kant, A.M.

For Appellant: Shri Tejasvi Jain, C.A. &For Respondent: Shri Sankar Naskar, Sr. D.R
Section 143(1)

…ons of 6 ITA.No.376/Del./2014 & ITA.No.2801/Del./2017 M/s. NIIT Ltd., New Delhi. the Hon’ble Supreme Court in the case of Sutlej Cotton Mills Ltd., vs. Commissioner of Income Tax 116 ITR 1 (SC) and Kedarnath Jute Mfg. Co., Ltd., vs. Commissioner of Income Tax 82 ITR 363 (SC). It was submitted that under the Income Tax Act depreciation is allowable under section 32 of the I.T. Act only to the ‘Owner’ of the asset. Lease charges paid for the use of the asset, without acquiring any ownership rights in the same, are allowable as revenue expenditure under section 37 of the I.T. Act. The assessee relied upon Circular N…

M/S. Niit Ltd., New Delhi vs. DCIT (Ltu), New Delhi

In the result, ITA.No.2801/Del

ITA 376/DEL/2014[2009-10]Status: DisposedITAT Delhi01 Nov 2019AY 2009-10

Bench: Shri Bhavnesh Saini, J.M. & Shri O.P. Kant, A.M.

For Appellant: Shri Tejasvi Jain, C.A. &For Respondent: Shri Sankar Naskar, Sr. D.R
Section 143(1)

…ons of 6 ITA.No.376/Del./2014 & ITA.No.2801/Del./2017 M/s. NIIT Ltd., New Delhi. the Hon’ble Supreme Court in the case of Sutlej Cotton Mills Ltd., vs. Commissioner of Income Tax 116 ITR 1 (SC) and Kedarnath Jute Mfg. Co., Ltd., vs. Commissioner of Income Tax 82 ITR 363 (SC). It was submitted that under the Income Tax Act depreciation is allowable under section 32 of the I.T. Act only to the ‘Owner’ of the asset. Lease charges paid for the use of the asset, without acquiring any ownership rights in the same, are allowable as revenue expenditure under section 37 of the I.T. Act. The assessee relied upon Circular N…

DCIT, New Delhi vs. M/S Ircon International Ltd., New Delhi

In the result, all the three appeals of the assessee for A

ITA 3805/DEL/2008[2003-04]Status: DisposedITAT Delhi31 Oct 2019AY 2003-04

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…s. 1825/Del/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 24 2234/Del/2005 & 3805/Del/2008 11.7 Further we find that Hon’ble Supreme Court in the case of Kedarnath Jute Mfg. Co. Ltd vs Commissioner Of Income Tax, (1971) AIR 2145, 1972 SCR (1) 277, [1971] 82 ITR 363(SC) held that whether the Assessee is entitled to a particular deduction or not will depend on the provision of law relating thereto and not on the view which the assessee might take of his rights nor can the existence or absence of entries in the books of account be decisive or conclusive in the matter. 11.8 We further note that the Hon’ble Su…

Ircon International Ltd., New Delhi vs. DCIT, Circle-11(1), Delhi

In the result, all the three appeals of the assessee for A

ITA 705/DEL/2006[2002-2003]Status: DisposedITAT Delhi31 Oct 2019AY 2002-2003

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…s. 1825/Del/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 24 2234/Del/2005 & 3805/Del/2008 11.7 Further we find that Hon’ble Supreme Court in the case of Kedarnath Jute Mfg. Co. Ltd vs Commissioner Of Income Tax, (1971) AIR 2145, 1972 SCR (1) 277, [1971] 82 ITR 363(SC) held that whether the Assessee is entitled to a particular deduction or not will depend on the provision of law relating thereto and not on the view which the assessee might take of his rights nor can the existence or absence of entries in the books of account be decisive or conclusive in the matter. 11.8 We further note that the Hon’ble Su…

DCIT, Circle-11(1) vs. Ircon International Ltd

In the result, all the three appeals of the assessee for A

ITA 2234/DEL/2005[2001-2002]Status: DisposedITAT Delhi31 Oct 2019AY 2001-2002

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…s. 1825/Del/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 24 2234/Del/2005 & 3805/Del/2008 11.7 Further we find that Hon’ble Supreme Court in the case of Kedarnath Jute Mfg. Co. Ltd vs Commissioner Of Income Tax, (1971) AIR 2145, 1972 SCR (1) 277, [1971] 82 ITR 363(SC) held that whether the Assessee is entitled to a particular deduction or not will depend on the provision of law relating thereto and not on the view which the assessee might take of his rights nor can the existence or absence of entries in the books of account be decisive or conclusive in the matter. 11.8 We further note that the Hon’ble Su…

Ircon International Limited, New Delhi vs. ACIT, New Delhi

In the result, all the three appeals of the assessee for A

ITA 3804/DEL/2008[2003-04]Status: DisposedITAT Delhi31 Oct 2019AY 2003-04

Bench: : Shri Bhavnesh Saini & Shri O.P. Kant

Section 80HSection 80I

…s. 1825/Del/2005, 705/Del/2006 & 3804/Del/2008 AND ITA Nos. 24 2234/Del/2005 & 3805/Del/2008 11.7 Further we find that Hon’ble Supreme Court in the case of Kedarnath Jute Mfg. Co. Ltd vs Commissioner Of Income Tax, (1971) AIR 2145, 1972 SCR (1) 277, [1971] 82 ITR 363(SC) held that whether the Assessee is entitled to a particular deduction or not will depend on the provision of law relating thereto and not on the view which the assessee might take of his rights nor can the existence or absence of entries in the books of account be decisive or conclusive in the matter. 11.8 We further note that the Hon’ble Su…