Liberty India v. CIT

317 ITR 218Supreme Court of India2009#109 most cited

What is Liberty India v. CIT authority for?

The Supreme Court clarified that for profits and gains to be eligible for deductions under sections like 10B, 80IA, or 80IB, the income must be "derived from" or have a direct nexus to the eligible business activity. Income from incidental sources like the sale of scrips/licenses or interest on employee loans is generally not considered as derived from the eligible business for such deductions.

571

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2009 to 2026.

Also referred to as

Liberty India v. CIT · 317 ITR 218 · section 10B · section 80IA · section 80IB · profits derived from · direct nexus · eligible business · export undertaking deduction · sale of scrips income · interest income deduction

Also reported as

183 Taxmann 349

Sections most often in play

Section 143(3)Section 14ASection 10BSection 80IBSection 147Section 80IASection 1961Section 250
Read the full judgment

Issues it is cited on

section 75section 80hsection 80hhsection 80hhcsection 80icsection 80ibeligible businessdeduction under section 80iasection 80isection 80iadisallowance u/s 14agross total income

Judgments citing Liberty India v. CIT

ACIT, New Delhi vs. M/S. Ultimate Flexipack Ltd., New Delhi

In the result, ITA No 4883/Del 2011 and CO No

ITA 4884/DEL/2011[2005-06]Status: DisposedITAT Delhi31 Dec 2019AY 2005-06

Bench: Shri G.S. Pannu & Shri K. Narasimha Chary

For Appellant: Shri Vijay Kumar Kataria, Sr. D.RFor Respondent: Shri M. P. Rastogi, Adv
Section 132(1)Section 143(3)Section 153ASection 80

…the Act could be claimed, remained debatable as confirmed by the decision of the Hon’ble judicial High Court in the case of Eltec SGS (supra), and such a debate has been settled finally by the Hon’ble Supreme Court in the case of Liberty India Private Limited 317 ITR 218. 11. As a matter of fact, Ld. CIT(A) found that the disclosure was made in the return of income itself, and it cannot be said that the assessee had ITA Nos.4883 & 4884/Del/2011 & 472/Del/2013 CO Nos.03 & 04/Del/2019 & 120/Del/2019 M/s. Ultimate Flixipack Ltd. Asst.Years–2004-05, 2005-06 & 2006-07 8 concealed or submitted any inaccurate particul…

ACIT, New Delhi vs. M/S. Ultimate Flexipack Ltd., New Delhi

In the result, ITA No 4883/Del 2011 and CO No

ITA 4883/DEL/2011[2004-05]Status: DisposedITAT Delhi31 Dec 2019AY 2004-05

Bench: Shri G.S. Pannu & Shri K. Narasimha Chary

For Appellant: Shri Vijay Kumar Kataria, Sr. D.RFor Respondent: Shri M. P. Rastogi, Adv
Section 132(1)Section 143(3)Section 153ASection 80

…the Act could be claimed, remained debatable as confirmed by the decision of the Hon’ble judicial High Court in the case of Eltec SGS (supra), and such a debate has been settled finally by the Hon’ble Supreme Court in the case of Liberty India Private Limited 317 ITR 218. 11. As a matter of fact, Ld. CIT(A) found that the disclosure was made in the return of income itself, and it cannot be said that the assessee had ITA Nos.4883 & 4884/Del/2011 & 472/Del/2013 CO Nos.03 & 04/Del/2019 & 120/Del/2019 M/s. Ultimate Flixipack Ltd. Asst.Years–2004-05, 2005-06 & 2006-07 8 concealed or submitted any inaccurate particul…

Shivom Cotspin Limited, Kala Amb vs. DCIT, Circle, Parwanoo

ITA 299/CHANDI/2019[2014-15]Status: DisposedITAT Chandigarh25 Nov 2019AY 2014-15

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 298 & 299/Chd/2019 "नधा"रण वष" / Assessment Years : 2012-13 & 2014-15

For Appellant: Shri Rohit Goel, CAFor Respondent: Shri Arvind Sudershan, Sr. DR
Section 271Section 80Section 80I

…the assessment year 2014-15, the penalty has also been levied on account of disallowance claimed by the assessee u/s 80IC on Duty draw back. This issue is settled by the decision of the Hon'ble Supreme Court in the case of ‘M/s Liberty India vs CIT’ [2009] 317 ITR 218 (SC) vide order dated 31.8.2019. Since the issue was already settled, hence, in our view, there was no justification on the part of the assessee to claim the deduction on duty draw back as exempt u/s 80IC of the Act. ITA Nos. 298 & 299/Chd/2019- M/s Shivam Cotspin Limited, Sirmour 5 The penalty levied by the Assessing Officer in respect of th…

Shivom Cotspin Limited, Kala Amb vs. DCIT, Circle, Parwanoo

ITA 298/CHANDI/2019[2012-13]Status: DisposedITAT Chandigarh25 Nov 2019AY 2012-13

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 298 & 299/Chd/2019 "नधा"रण वष" / Assessment Years : 2012-13 & 2014-15

For Appellant: Shri Rohit Goel, CAFor Respondent: Shri Arvind Sudershan, Sr. DR
Section 271Section 80Section 80I

…the assessment year 2014-15, the penalty has also been levied on account of disallowance claimed by the assessee u/s 80IC on Duty draw back. This issue is settled by the decision of the Hon'ble Supreme Court in the case of ‘M/s Liberty India vs CIT’ [2009] 317 ITR 218 (SC) vide order dated 31.8.2019. Since the issue was already settled, hence, in our view, there was no justification on the part of the assessee to claim the deduction on duty draw back as exempt u/s 80IC of the Act. ITA Nos. 298 & 299/Chd/2019- M/s Shivam Cotspin Limited, Sirmour 5 The penalty levied by the Assessing Officer in respect of th…

M/S. La Opala RG Ltd., Kolkata vs. ACIT, Range - 12, Kolkata

In the result, the appeal of the assessee is allowed

ITA 559/KOL/2018[2013-14]Status: DisposedITAT Kolkata31 Oct 2019AY 2013-14

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 139Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 14ASection 263Section 80ISection 80l

…on from such profits and gains, as specified in sub­section (3)." The provisions as contained in sec 80-IC(1) does not define the words 'profits and gains derived by any undertaking'. We note that the Hon’ble Supreme Court in the case of Liberty India Vs CIT (317 ITR 218) has held that items of income which have first degree nexus with the business of the industrial undertaking can be held to be profits & gains derived from the undertaking in order to avail the profit-linked deduction u/s 80IA of the Act. In this background, it is now pertinent to examine the nature of each item credited under the head 'other inc…

ACIT, Circle-8(2), Kolkata vs. M/S Shree Ganesh Jewellery House Ltd., Kolkata

In the result, appeal of the revenue is In the result, appeal of the revenue is allowed

ITA 1639/KOL/2016[2009-10]Status: DisposedITAT Kolkata23 Oct 2019AY 2009-10

Bench: Shri J. Sudhakar Reddy, Hon’Ble & Sri S.S. Godara, Hon’Ble] I.T.A. No. 1639/Kol/2016 Assessment Year: 2009-10 Asstt. Commissioner Of Income Tax, Circle-8(2)1, Kolkata..............…...…………......Appellant Vs. M/S. Shree Ganesh Jewellery House Ltd.………………....………………..……………………Respondent 25A, Camac Street Kolkata – 700 016 [Pan: Aagcs 7343 P] Appearances By: Dr. P.K. Srihari, Cit,. D/R, Appearing On Behalf Of The Revenue None, Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : October 16Th, 2019 Date Of Pronouncing The Order : October 23Rd, 2019 O R D E R Per J. Sudhakar Reddy, Am :- This Appeal Filed By The Revenue Is Directed Against The Order Of The Learned Commissioner Of Income Tax (Appeals) – 17, Kolkata, (Hereinafter The “Ld.Cit(A)”), Passed U/S. 250 Of The Income Tax Act, 1961 (The ‘Act’), Dt. 15/04/2016, For The Assessment Year 2009-10, On The Following Effective Ground/S:- “1. Whether On The Facts & Circumstances Of The Case & In Law, The Ld. Cit(A) Erred In Deleting The Addition To Addition Of Rs.38,95,01,000/- With Respect To Interest Income On Fixed Deposit Not Eligible For Deduction U/S 10Aa Of The I.T. Act, 1961.”

Section 10ASection 250

…the ld. D/R. 3. We have heard the ld. D/R. On careful consideration of the facts and circumstances of the case, we find that the issue in question is covered by the decision of the Hon’ble Supreme Court in the case of Liberty India vs. CIT reported in [2009] 317 ITR 218 (SC), wherein it was held that the profits derived I.T.A. No. 1639/Kol/2016 Assessment Year: 2009-10 M/s. Shree Ganesh Jewellery House Ltd. from exports are only eligible for deduction and any ancillary/others income from exports are only eligible for deduction and any ancillary/others income from exports are only eligible for deduction and any…

Banpal Oil Chem Pvt.Ltd., Palanpur vs. The ACIT, B.K.Circle, Palanpur

In the result, the appeal of the asessee is partly allowed

ITA 1939/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad21 Oct 2019AY 2009-10
For Appellant: Shri Tushar Hemani &For Respondent: Shri Mudit Nagpal, Sr. D.R
Section 143(3)Section 14ASection 37(1)Section 80I

…to the amount of Rs. 18,63,248/-. The assessing officer observed that the aforesaid deduction u/s. 80IB was claimed on the DEPB and NKUY benefits. The assessing officer has stated that as per the decision of Hon’ble Supreme Court in the case of Liberty India 317 ITR 218 deduction u/s. 80IB cannot be claimed on the DEPB I.T.A No. 1939/Ahd/2014 A.Y. 2009-10 Page No 3 Banpal Oilchem Pvt. Ltd. vs. ACIT income, it has to be excluded while calculating the deduction u/s. 80IB of the act. Accordingly, the assessing officer has disallowed the claim of deduction u/s. 80IB on the aforesaid income. The assessee has filed…

ITO, Ludhiana vs. M/S Shri Ram International, Ludhiana

In the result, the appeal of the Revenue and Cross objections of

ITA 336/CHANDI/2008[2004-05]Status: DisposedITAT Chandigarh20 Aug 2019AY 2004-05

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकरअपीलसं./Ita Nos. 336/Chd/2008 "नधा"रणवष" / Assessment Year : 2004-05 The Ito, Vs. Shri Ram International, Ward Vii (2), Preet Vihar, Jassain बनाम Ludhiana Road, Ludhiana "थायीलेखासं./Pan No:Aamfs4022J अपीलाथ"/Appellant ""यथ"/Respondent

For Appellant: NoneFor Respondent: Shri Manjit Singh, CIT DR

…CIT(A) in confirming the disallowance made by the Assessing Officer of deduction claimed u/s 80IB of the Act on DEPB and Duty Draw back. This issue is squarely covered by the decision of the Hon'ble Supreme Court in the case of ‘Liberty India vs CIT’ [2009] 317 ITR 218 (SC). We, therefore, do not find any infirmity in the order of the CIT(A). There is no merit in the Cross objections filed by the assessee. In the result, the appeal of the Revenue and Cross objections of the assessee are dismissed. Order pronounced in the Open Court on 20.08.2019 (संजय गग" / SANJAY GARG) (एन. के. सैनी / N.K. SAINI) उपा"य" /Vic…

Ig3 Infra Pvt. Ltd., Chennai vs. ACIT (OSD) Corporate Range 2, Chennai

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 770/CHNY/2019[2014-15]Status: DisposedITAT Chennai19 Aug 2019AY 2014-15

Bench: Shri George Mathan & Shri S. Jayaramanआयकर अपील सं./I.T.A.No.770/Chny/2019 ("नधा"रण वष" / Assessment Year: 2014-15) Vs The Acit(Osd), M/S. Ig3 Infra Pvt. Ltd., Chennai One, Pallavaram, Corporate Range – 2, Thoraipakkam 200 Feet Road, Chennai Thoraipakkam, Chennai – 600 097. Pan: Aabce2840C (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri G. Baskar, Advocate ""यथ" क" ओर से/Respondent By : Shri Ar.V. Sreenivasan, Jcit

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri AR.V. Sreenivasan, JCIT
Section 10ASection 80I

…ay be allowed. 4. Per contra, the Ld.DR taking us through the order of the Ld.CIT(A) submitted that the Ld.CIT(A) relying on various decisions of Hon’ble Supreme Court viz., CIT vs. K. Ravindranathan Nair [2007] 295 ITR 228 (SC), Liberty India vs. CIT [2008] 317 ITR 218 (SC) and the decision of the Hon’ble Jurisdictional High Court in CIT vs. Pandian Chemicals Ltd., [1998] 233 ITR 497 (Mad) held that the income earned from the activity of infrastructure facility alone is to be regarded as “derived from the business”. The immediate source of the interest income is the bank / electricity deposit and not the infras…

DCIT, New Delhi vs. M/S. Hero Motocorp Ltd., New Delhi

In the result, appeal of the assessee is allowed in part for statistical purposes and appeal of the revenue is dismissed

ITA 5529/DEL/2014[2004-05]Status: DisposedITAT Delhi31 Jul 2019AY 2004-05

Bench: Shri Pramod Kumar & Shri K. Narasimha Chary

For Appellant: Shri Gaurav Jain , AdvocateFor Respondent: Shri Sanjay I. Bara, CIT- DR
Section 143(3)Section 14ASection 80

…ne through the order in ITA No. 1545/Del/2015 in assessee’s own case for Assessment Year 2011-12 and find that a coordinate Bench of this Tribunal analysed the facts in the light of the judgement of the Hon’ble Apex Court in the case of Liberty India vs. CIT, 317 ITR 218 to reach a conclusion that since the assessee had given the surplus funds to employees as a measure of incentive/perquisite, such an activity comprises of the business activity; that the source of such income is not activity of giving loan, but the benefit extended to 9 employees engaged in the business. The Tribunal observed that the first degre…

Transtroy (India) Limited, Guntur vs. Assistant Commissioner, Circle 2(1), Guntur

The appeal of the Revenue is allowed for A

ITA 248/VIZ/2018[2014-15]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2014-15

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

Assistant Commissioner of Income Tax, Circle-2(1), Guntur vs. Transstory (India) Limited, Guntur

The appeal of the Revenue is allowed for A

ITA 193/VIZ/2018[2014-15]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2014-15

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

Transstroy(India)Limited, Guntur vs. ACIT, Circle-2(1), Guntur

The appeal of the Revenue is allowed for A

ITA 529/VIZ/2017[2013-14]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2013-14

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

ACIT, Circle-2(1)., Guntur vs. Transstroy(India)Ltd., Guntur

The appeal of the Revenue is allowed for A

ITA 509/VIZ/2017[2013-14]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2013-14

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

The ACIT, Guntur vs. M/S. Transstory (India) Ltd., Guntur

The appeal of the Revenue is allowed for A

ITA 470/VIZ/2016[2012-2013]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2012-2013

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

Transstroy (India) Ltd., Hyderabad vs. The ACIT., Guntur

The appeal of the Revenue is allowed for A

ITA 430/VIZ/2016[2012-2013]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2012-2013

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

Transtroy India Ltd., Hyderabad vs. The ACIT, Guntur

The appeal of the Revenue is allowed for A

ITA 193/VIZ/2015[2011-12]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2011-12

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

The ACIT, Guntur vs. M/S Transstroy (India) Ltd., Guntur

The appeal of the Revenue is allowed for A

ITA 163/VIZ/2015[2011-12]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2011-12

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

The ACIT, Guntur vs. M/S Transstroy India Ltd., Guntur

The appeal of the Revenue is allowed for A

ITA 162/VIZ/2015[2009-10]Status: DisposedITAT Visakhapatnam19 Jul 2019AY 2009-10

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 To 2014-15 Respectively) Asst.Commissioner Of Vs. M/S Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [Pan : Aabct4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.Nos.193/Viz/2015, 430/Viz/2016, 529/Viz/2017 & 248/Viz/2018 (निर्धारण वर्ा/Assessment Years:2011-12 To 2014-15 Respectively) M/S Transstroy (India) Ltd. Asst.Commissioner Of Guntur Income Tax Circle-2(1) [Pan : Aabct4226B] Guntur (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri D.K.Sonowal, Dr निर्धाऩरती की ओर से / Assessee By : Shri T.Chaitanya Kumar, Ar सुिवधई की तधरीख / Date Of Hearing : 07.06.2019 घोर्णध की तधरीख/Date Of Pronouncement : 19.07.2019

For Appellant: Shri T.Chaitanya Kumar, ARFor Respondent: Shri D.K.Sonowal, DR
Section 143(3)Section 40A(3)Section 80I

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.162 & 163/Viz/2015, 470/Viz/2016, 509/Viz/2017 & 193/Viz/2018 (निर्धारण वर्ा/Assessment Year:2009-10, 2011-12 to 2014-15 respectively) Asst.Commissioner of Vs. M/s Transstroy (India) Ltd. Income Tax Guntur Circle-2(1) Guntur [PAN : AABCT4226B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.…

Income Tax Officer-4(2)(4), Mumbai vs. Mamta Glod Private Limited (Earlier Known As Praveen Jewelers Private Limited ), Mumbai

ITA 7006/MUM/2017[2006-07]Status: DisposedITAT Mumbai18 Jul 2019AY 2006-07

Bench: Shri Shamim Yahya (Am) & Shri Amarjit Singh (Jm)

Section 143(3)Section 148Section 68

…THE INCOME TAX APPELLATE TRIBUNAL “D” Bench, Mumbai Before Shri Shamim Yahya (AM) & Shri Amarjit Singh (JM) I.T.A. No. 7006/Mum/2017 (Assessment Year 2006-07) I.T.A. No. 7005/Mum/2017 (Assessment Year 2010-11) ITO-4(2)(4) M/s. Mamta Gold Pvt. Ltd. Vs. Room No. 647 (Earlier known as Praveen 6th Floor Jewellers Pvt.Ltd.) Aayakar Bhavan 207, 2nd Floor M.K. Road Purshottam Niwas Mumbai-400 020. 31, Dadiseth Agiary Lane Kalbadevi Road PAN : Mumbai-400 002. PAN : AADCP5748G (Appellant) (Respondent) Assessee by Shri Vimal Punmiya Department by Shri R. Sindhu Date of Hearing 13.5.2019 Date of Pronouncement 18.7.201…