Limited v. ACIT

174 ITD 303Income Tax Appellate Tribunal#6787 most cited

What is Limited v. ACIT authority for?

The average annual landed cost of power purchased from the State Electricity Board is a valid basis for calculating the turnover of eligible captive power units for claiming deduction under Section 80IA.

17

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2017 to 2023.

Also referred to as

Limited v. ACIT · 174 ITD 303 · Section 80IA · deduction u/s 80IA · turnover of eligible CPP units · Average Annual Landed Cost · AALC · purchase power from SEB · Cement Manufacturing Unit · CMM

Also reported as

50 SOT 885 TTJ 20

Sections most often in play

Section 14ASection 41(1)

Issues it is cited on

section 57(i)section 2(d)section 46section 46asection 35dsection 36(1)(viia)deduction under section 80iasection 10(34)disallowance of interest expendituresection 246section 40(a)(i)section 246a

Judgments citing Limited v. ACIT

Acc Limited, Mumbai vs. DCIT (Ltu), Mumbai

In the result, appeal filed by department is dismissed

ITA 800/MUM/2022[2013-14]Status: DisposedITAT Mumbai30 Jun 2023AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms Kavitha Rajagopal, Hon'Blem/S. Acc Limited V. Dcit (Ltu) 121, Cement House, M.K. Road 29Th Floor, Center-1 Churchgate, Mumbai-400020 World Trade Centre, Cuffe Parade Mumbai - 400005 Pan: Aaact1507C (Appellant) (Respondent) Asst. Cit – 3(4) V. M/S. Acc Limited 29Th Floor, Center-1 Cement House,121, M.K. Road World Trade Centre, Cuffe Parade Churchgate, Mumbai-400020 Mumbai-400005 Pan: Aaact1507C (Appellant) (Respondent)

Section 14A

…er &Ispat Ltd. [(2014) 223 Taxman 234 (Chattisgarh HC)] (iv) PCIT v. Gujarat Alkalies& Chemicals Ltd. [(2017) 395 ITR 247 (Gujarat HC)] (v) West Coast Paper Mills Ltd. v. JCIT (2006) 100 TTJ 833 (Mumbai Trib.) – (vi) Eveready Spinning Mills (P.) Ltd. v. ACIT (50 SOT 8) (Chennai) (URO) (vi) ACIT vs. Godavari Power &Ispat LTD (2011) 133 ITD 502 (Bilaspur) (vii) BalrampurChini Mills Ltd (ITA 1672/Kol/2019) (Kolkata ITAT) 57. During the course of appellate hearing, Ld AR has filed revised working of the turnover of the eligible CPP units by adopting rate which the assessee’s Cement Manufacturing Unit (CMM) would have…

Asst. Commissioner of Income Tax-3(4), Mumbai-400005 vs. M/S. Acc Limited, Mumbai-400020

In the result, appeal filed by department is dismissed

ITA 1171/MUM/2022[2013-14]Status: DisposedITAT Mumbai30 Jun 2023AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms Kavitha Rajagopal, Hon'Blem/S. Acc Limited V. Dcit (Ltu) 121, Cement House, M.K. Road 29Th Floor, Center-1 Churchgate, Mumbai-400020 World Trade Centre, Cuffe Parade Mumbai - 400005 Pan: Aaact1507C (Appellant) (Respondent) Asst. Cit – 3(4) V. M/S. Acc Limited 29Th Floor, Center-1 Cement House,121, M.K. Road World Trade Centre, Cuffe Parade Churchgate, Mumbai-400020 Mumbai-400005 Pan: Aaact1507C (Appellant) (Respondent)

Section 14A

…er &Ispat Ltd. [(2014) 223 Taxman 234 (Chattisgarh HC)] (iv) PCIT v. Gujarat Alkalies& Chemicals Ltd. [(2017) 395 ITR 247 (Gujarat HC)] (v) West Coast Paper Mills Ltd. v. JCIT (2006) 100 TTJ 833 (Mumbai Trib.) – (vi) Eveready Spinning Mills (P.) Ltd. v. ACIT (50 SOT 8) (Chennai) (URO) (vi) ACIT vs. Godavari Power &Ispat LTD (2011) 133 ITD 502 (Bilaspur) (vii) BalrampurChini Mills Ltd (ITA 1672/Kol/2019) (Kolkata ITAT) 57. During the course of appellate hearing, Ld AR has filed revised working of the turnover of the eligible CPP units by adopting rate which the assessee’s Cement Manufacturing Unit (CMM) would have…

DCIT(Ltu) - 1, Mumbai vs. Acc Ltd., Mumbai

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

ITA 3178/MUM/2019[2011-12]Status: DisposedITAT Mumbai28 Feb 2023AY 2011-12

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

Section 14Section 143(3)Section 14A

…er &Ispat Ltd. [(2014) 223 Taxman 234 (Chattisgarh HC)] (iv) PCIT v. Gujarat Alkalies& Chemicals Ltd. [(2017) 395 ITR 247 (Gujarat HC)] (v) West Coast Paper Mills Ltd. v. JCIT (2006) 100 TTJ 833 (Mumbai Trib.) – (vi) Eveready Spinning Mills (P.) Ltd. v. ACIT (50 SOT 8) (Chennai) (URO) (vi) ACIT vs. Godavari Power &Ispat LTD (2011) 133 ITD 502 (Bilaspur) (vii) BalrampurChini Mills Ltd (ITA 1672/Kol/2019) (Kolkata ITAT) 57. During the course of appellate hearing, Ld AR has filed revised working of the turnover of the eligible CPP units by adopting rate which the assessee’s Cement Manufacturing Unit (CMM) would hav…

Acc Ltd., Mumbai vs. Addl CIT(Ltu), Mumbai

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

ITA 3139/MUM/2019[2011-12]Status: DisposedITAT Mumbai28 Feb 2023AY 2011-12

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

Section 14Section 143(3)Section 14A

…er &Ispat Ltd. [(2014) 223 Taxman 234 (Chattisgarh HC)] (iv) PCIT v. Gujarat Alkalies& Chemicals Ltd. [(2017) 395 ITR 247 (Gujarat HC)] (v) West Coast Paper Mills Ltd. v. JCIT (2006) 100 TTJ 833 (Mumbai Trib.) – (vi) Eveready Spinning Mills (P.) Ltd. v. ACIT (50 SOT 8) (Chennai) (URO) (vi) ACIT vs. Godavari Power &Ispat LTD (2011) 133 ITD 502 (Bilaspur) (vii) BalrampurChini Mills Ltd (ITA 1672/Kol/2019) (Kolkata ITAT) 57. During the course of appellate hearing, Ld AR has filed revised working of the turnover of the eligible CPP units by adopting rate which the assessee’s Cement Manufacturing Unit (CMM) would hav…

Yes Bank Limited, Mumbai vs. DCIT 2 (2)(2), Mumbai

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

ITA 3500/MUM/2018[2013-14]Status: DisposedITAT Mumbai28 Jun 2022AY 2013-14

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Shekhar L. Gajbhiye, CIT
Section 14ASection 35DSection 40

…f the assessee is squarely covered in favour of the assessee by the decision of several coordinate benches. He referred to the decision of Sadhna sahkari bank Limited versus ACIT hundred and 18 taxman.com 526, Bhagini Nivedita sahkari bank Limited versus DCIT 174 ITD 303,Kodangullar account co- ITA No. 3498 to 3500 & 3236 to 3238/Mum/2018 Yes Bank Limited; A.Y. 11-12 to 13-14 operative Bank Ltd versus ACIT 160 ITD 132 and DCIT versus ING Vasya bank Ltd 149 ITD 611. 084. The learned departmental representative vehemently supported the order of the lower authorities. 085. We have carefully considered the rival con…

Yes Bank Ltd., Mumbai vs. DCIT 2(2)(2), Mumbai

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

ITA 3499/MUM/2018[2012-13]Status: DisposedITAT Mumbai28 Jun 2022AY 2012-13

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Shekhar L. Gajbhiye, CIT
Section 14ASection 35DSection 40

…f the assessee is squarely covered in favour of the assessee by the decision of several coordinate benches. He referred to the decision of Sadhna sahkari bank Limited versus ACIT hundred and 18 taxman.com 526, Bhagini Nivedita sahkari bank Limited versus DCIT 174 ITD 303,Kodangullar account co- ITA No. 3498 to 3500 & 3236 to 3238/Mum/2018 Yes Bank Limited; A.Y. 11-12 to 13-14 operative Bank Ltd versus ACIT 160 ITD 132 and DCIT versus ING Vasya bank Ltd 149 ITD 611. 084. The learned departmental representative vehemently supported the order of the lower authorities. 085. We have carefully considered the rival con…

Yes Bank Limited, Mumbai vs. DCIT - 2(2)(2), Mumbai

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

ITA 3498/MUM/2018[2011-12]Status: DisposedITAT Mumbai28 Jun 2022AY 2011-12

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Shekhar L. Gajbhiye, CIT
Section 14ASection 35DSection 40

…f the assessee is squarely covered in favour of the assessee by the decision of several coordinate benches. He referred to the decision of Sadhna sahkari bank Limited versus ACIT hundred and 18 taxman.com 526, Bhagini Nivedita sahkari bank Limited versus DCIT 174 ITD 303,Kodangullar account co- ITA No. 3498 to 3500 & 3236 to 3238/Mum/2018 Yes Bank Limited; A.Y. 11-12 to 13-14 operative Bank Ltd versus ACIT 160 ITD 132 and DCIT versus ING Vasya bank Ltd 149 ITD 611. 084. The learned departmental representative vehemently supported the order of the lower authorities. 085. We have carefully considered the rival con…

DCIT- 2(2)(2), Mumbai vs. Yes Bank Ltd., Mumbai

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

ITA 3238/MUM/2018[2013-14]Status: DisposedITAT Mumbai28 Jun 2022AY 2013-14

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Shekhar L. Gajbhiye, CIT
Section 14ASection 35DSection 40

…f the assessee is squarely covered in favour of the assessee by the decision of several coordinate benches. He referred to the decision of Sadhna sahkari bank Limited versus ACIT hundred and 18 taxman.com 526, Bhagini Nivedita sahkari bank Limited versus DCIT 174 ITD 303,Kodangullar account co- ITA No. 3498 to 3500 & 3236 to 3238/Mum/2018 Yes Bank Limited; A.Y. 11-12 to 13-14 operative Bank Ltd versus ACIT 160 ITD 132 and DCIT versus ING Vasya bank Ltd 149 ITD 611. 084. The learned departmental representative vehemently supported the order of the lower authorities. 085. We have carefully considered the rival con…

DCIT- 2(2)(2), Mumbai vs. Yes Bank Ltd., Mumbai

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

ITA 3237/MUM/2018[2012-13]Status: DisposedITAT Mumbai28 Jun 2022AY 2012-13

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Shekhar L. Gajbhiye, CIT
Section 14ASection 35DSection 40

…f the assessee is squarely covered in favour of the assessee by the decision of several coordinate benches. He referred to the decision of Sadhna sahkari bank Limited versus ACIT hundred and 18 taxman.com 526, Bhagini Nivedita sahkari bank Limited versus DCIT 174 ITD 303,Kodangullar account co- ITA No. 3498 to 3500 & 3236 to 3238/Mum/2018 Yes Bank Limited; A.Y. 11-12 to 13-14 operative Bank Ltd versus ACIT 160 ITD 132 and DCIT versus ING Vasya bank Ltd 149 ITD 611. 084. The learned departmental representative vehemently supported the order of the lower authorities. 085. We have carefully considered the rival con…

DCIT 2(2)(2), Mumbai vs. Yes Bank Ltd., Mumbai

In the result, appeal filed by the learned assessing officer in ITA number 3238/M/2018 for assessment year 2013 –

ITA 3236/MUM/2018[2011-12]Status: DisposedITAT Mumbai28 Jun 2022AY 2011-12

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Shekhar L. Gajbhiye, CIT
Section 14ASection 35DSection 40

…f the assessee is squarely covered in favour of the assessee by the decision of several coordinate benches. He referred to the decision of Sadhna sahkari bank Limited versus ACIT hundred and 18 taxman.com 526, Bhagini Nivedita sahkari bank Limited versus DCIT 174 ITD 303,Kodangullar account co- ITA No. 3498 to 3500 & 3236 to 3238/Mum/2018 Yes Bank Limited; A.Y. 11-12 to 13-14 operative Bank Ltd versus ACIT 160 ITD 132 and DCIT versus ING Vasya bank Ltd 149 ITD 611. 084. The learned departmental representative vehemently supported the order of the lower authorities. 085. We have carefully considered the rival con…

Sadhana Sahakari Bank Ltd, Pune vs. Assistant Commissioner of Income Tax, Pune

In the result, all the three appeals of assessee are partly allowed

ITA 1206/PUN/2017[2013-14]Status: DisposedITAT Pune11 Mar 2020AY 2013-14

Bench: Shri D. Karunakara Rao & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita Nos.1204 To 1206/Pun/2017 नििाारण वषा / Assessment Years : 2011-12 To 2013-14 Sadhana Sahakari Bank Ltd., Shivam Complex, Pune-Solapur Road, Hadapsar, Pune – 411028 Pan: Aabas2204G .......अऩीऱाथी / Appellant बिाम / V/S. The Asst. Commissioner Of Income Tax, Circle – 14, Pune ……प्रत्यथी / Respondent Assessee By : Shri Kishor Phadke Revenue By : Shri S.P. Walimbe

For Appellant: Shri Kishor PhadkeFor Respondent: Shri S.P. Walimbe
Section 14ASection 36(1)Section 36(1)(viia)Section 37(1)

…he assessee is in appeal before the Tribunal with the grounds raised above. 6. Before us, at the outset, ld. Counsel mentioned that it is a covered case by virtue of the order of Tribunal in the case of Bhagni Nivedita Sahakari Bank Ltd. Vs. DCIT reported in 174 ITD 303 for A.Ys. 2007-08 to 2012-13. This decision is dated 30.11.2018. The ld. Counsel fairly mentioned that two divergent decisions in his own case for different assessment years. According to him, the CIT(A) relied on earlier unfavourable decision (dated 29.05.2015). The CIT(A)‟s order is also earlier to the cited subsequent order of the Tribunal (fa…

Sadhana Sahakari Bank Ltd, Pune vs. Assistant Commissioner of Income Tax, Pune

In the result, all the three appeals of assessee are partly allowed

ITA 1205/PUN/2017[2012-13]Status: DisposedITAT Pune11 Mar 2020AY 2012-13

Bench: Shri D. Karunakara Rao & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita Nos.1204 To 1206/Pun/2017 नििाारण वषा / Assessment Years : 2011-12 To 2013-14 Sadhana Sahakari Bank Ltd., Shivam Complex, Pune-Solapur Road, Hadapsar, Pune – 411028 Pan: Aabas2204G .......अऩीऱाथी / Appellant बिाम / V/S. The Asst. Commissioner Of Income Tax, Circle – 14, Pune ……प्रत्यथी / Respondent Assessee By : Shri Kishor Phadke Revenue By : Shri S.P. Walimbe

For Appellant: Shri Kishor PhadkeFor Respondent: Shri S.P. Walimbe
Section 14ASection 36(1)Section 36(1)(viia)Section 37(1)

…he assessee is in appeal before the Tribunal with the grounds raised above. 6. Before us, at the outset, ld. Counsel mentioned that it is a covered case by virtue of the order of Tribunal in the case of Bhagni Nivedita Sahakari Bank Ltd. Vs. DCIT reported in 174 ITD 303 for A.Ys. 2007-08 to 2012-13. This decision is dated 30.11.2018. The ld. Counsel fairly mentioned that two divergent decisions in his own case for different assessment years. According to him, the CIT(A) relied on earlier unfavourable decision (dated 29.05.2015). The CIT(A)‟s order is also earlier to the cited subsequent order of the Tribunal (fa…

Sadhana Sahakari Bank Ltd, Pune vs. Assistant Commissioner of Income Tax, Pune

In the result, all the three appeals of assessee are partly allowed

ITA 1204/PUN/2017[2011-12]Status: DisposedITAT Pune11 Mar 2020AY 2011-12

Bench: Shri D. Karunakara Rao & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita Nos.1204 To 1206/Pun/2017 नििाारण वषा / Assessment Years : 2011-12 To 2013-14 Sadhana Sahakari Bank Ltd., Shivam Complex, Pune-Solapur Road, Hadapsar, Pune – 411028 Pan: Aabas2204G .......अऩीऱाथी / Appellant बिाम / V/S. The Asst. Commissioner Of Income Tax, Circle – 14, Pune ……प्रत्यथी / Respondent Assessee By : Shri Kishor Phadke Revenue By : Shri S.P. Walimbe

For Appellant: Shri Kishor PhadkeFor Respondent: Shri S.P. Walimbe
Section 14ASection 36(1)Section 36(1)(viia)Section 37(1)

…he assessee is in appeal before the Tribunal with the grounds raised above. 6. Before us, at the outset, ld. Counsel mentioned that it is a covered case by virtue of the order of Tribunal in the case of Bhagni Nivedita Sahakari Bank Ltd. Vs. DCIT reported in 174 ITD 303 for A.Ys. 2007-08 to 2012-13. This decision is dated 30.11.2018. The ld. Counsel fairly mentioned that two divergent decisions in his own case for different assessment years. According to him, the CIT(A) relied on earlier unfavourable decision (dated 29.05.2015). The CIT(A)‟s order is also earlier to the cited subsequent order of the Tribunal (fa…

ACIT, New Delhi vs. M/S. Geo Connect Ltd., New Delhi

In the result, appeals filed by the assessee in ITA Nos

ITA 5851/DEL/2011[2002-03]Status: DisposedITAT Delhi17 Jan 2017AY 2002-03

Bench: Sh. H.S. Sidhu & Sh. O.P. Kant

Section 143(2)Section 143(3)Section 195Section 271(1)(c)Section 9(1)(vii)

…t year though the assessee had spread it over a period of three years in the books of accounts. The entries made in the books of account was not relevant for the purpose of allowability under the Income-tax Act as laid down in Amar Raja batteries Ltd Vs. ACIT 85 TTJ 20(Hyd.) (iii) that in the case of Madras industrial investment Corporation limited versus CIT 225 ITR 802 (SC) it was held that though the assessee has written off the expenditure in its books of accounts over a period of five years, it must be allowed in entirety in the year in which it is incurred, if it is a revenue expenditure and if it is wholly…

M/S Geo Connect Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeals filed by the assessee in ITA Nos

ITA 127/DEL/2011[2003-04]Status: DisposedITAT Delhi17 Jan 2017AY 2003-04

Bench: Sh. H.S. Sidhu & Sh. O.P. Kant

Section 143(2)Section 143(3)Section 195Section 271(1)(c)Section 9(1)(vii)

…t year though the assessee had spread it over a period of three years in the books of accounts. The entries made in the books of account was not relevant for the purpose of allowability under the Income-tax Act as laid down in Amar Raja batteries Ltd Vs. ACIT 85 TTJ 20(Hyd.) (iii) that in the case of Madras industrial investment Corporation limited versus CIT 225 ITR 802 (SC) it was held that though the assessee has written off the expenditure in its books of accounts over a period of five years, it must be allowed in entirety in the year in which it is incurred, if it is a revenue expenditure and if it is wholly…

DCIT Circle-12 (1) vs. Geo Connect Ltd

In the result, appeals filed by the assessee in ITA Nos

ITA 2088/DEL/2008[2002-2003]Status: DisposedITAT Delhi17 Jan 2017AY 2002-2003

Bench: Sh. H.S. Sidhu & Sh. O.P. Kant

Section 143(2)Section 143(3)Section 195Section 271(1)(c)Section 9(1)(vii)

…t year though the assessee had spread it over a period of three years in the books of accounts. The entries made in the books of account was not relevant for the purpose of allowability under the Income-tax Act as laid down in Amar Raja batteries Ltd Vs. ACIT 85 TTJ 20(Hyd.) (iii) that in the case of Madras industrial investment Corporation limited versus CIT 225 ITR 802 (SC) it was held that though the assessee has written off the expenditure in its books of accounts over a period of five years, it must be allowed in entirety in the year in which it is incurred, if it is a revenue expenditure and if it is wholly…

Geo Convest Ltd vs. DCIT Circle-12 (1)

In the result, appeals filed by the assessee in ITA Nos

ITA 1927/DEL/2008[2002-2003]Status: DisposedITAT Delhi17 Jan 2017AY 2002-2003

Bench: Sh. H.S. Sidhu & Sh. O.P. Kant

Section 143(2)Section 143(3)Section 195Section 271(1)(c)Section 9(1)(vii)

…t year though the assessee had spread it over a period of three years in the books of accounts. The entries made in the books of account was not relevant for the purpose of allowability under the Income-tax Act as laid down in Amar Raja batteries Ltd Vs. ACIT 85 TTJ 20(Hyd.) (iii) that in the case of Madras industrial investment Corporation limited versus CIT 225 ITR 802 (SC) it was held that though the assessee has written off the expenditure in its books of accounts over a period of five years, it must be allowed in entirety in the year in which it is incurred, if it is a revenue expenditure and if it is wholly…

Limited v. ACIT (174 ITD 303) — Cited in 17 Judgments | BharatTax