M/S Madhya Pradesh State Industries Corporation Limited v. CIT

69 ITR 824High Court1968#18266 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2022.

Judgments citing M/S Madhya Pradesh State Industries Corporation Limited v. CIT

ACIT- 14 (1) (2), MUMBAI vs. URJANKUR SHREE TATYASAHEB KORE WARNA POWER CO, LTD, MUMBAI

In the result, ground nos

ITA 1420/MUM/2021[2012-13]Status: DisposedITAT Mumbai08 Apr 2022AY 2012-13

Bench: Shri Vijay Pal Rao & Shri Gagan Goyal

For Appellant: Sh. S.N. Kabra, Sr. DRFor Respondent: None

Section 14Section 56(1)

…14) (iv) A.C. Nielson Research Services (P.) Ltd. vs. Addl.CIT 120 TTJ (Mum) 918 (Mum). (v) Dy.CIT vs. Times Guarantee Ltd. - 131 TTJ (Mum) 257. (vi) Traco Cable Co. Ltd. vs. CIT (Ker) 72 ITR 603 (vii) Madhya Pradesh Stale Industries Corpn. Ltd. Vs. CIT (MP) 69 ITR 824 (MP) (viii) CIT vs. Assam Plantation Crops Dev. Corpn Ltd. (Gau) 221 ITR 392 (ix) South India Shipping Corporation Ltd. Vs. DY.CIT-240 ITR 24 (Mad) (x) CIT vs. Kisan Sahakari Chini Mills Ltd. – 280 ITR 617 (AH.) (xi) Shree Krishna Polyesters Ltd. vs. DY. CIT-274 ITR 21 (Bom.) 8. We have pursued the order of ld. AO, ld. CIT (A) and the submissions…

INCOME TAX OFFICER, WARD-17(2), HYDERABAD vs. ELGEN (INDIA) PRIVATE LIMITED , HYDERABAD

In the result, appeal of the revenue is allowed

ITA 244/HYD/2019[2015-16]Status: DisposedITAT Hyderabad30 Apr 2021AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahuassessment Year: 2015-16 Income-Tax Officer, Vs. Elgen (India) Pvt Ltd., Ward - 17(2), Hyderabad. Hyderabad. Pan – Aaace 8520C (Appellant) (Respondent) Revenue By: Shri Rohit Mujumdar Assessee By: Shri M. Poorna Chander Rao Date Of Hearing: 15/03/2021 Date Of Pronouncement: 30/04/2021

For Appellant: Shri M. Poorna Chander RaoFor Respondent: Shri Rohit Mujumdar

Section 143(3)

…s order for the earlier two assessment years were clearly distinguishable and did not in terms deal with the issue raised by him in this appeal. He submitted that neither of the four authorities, viz., Madhya Pradesh State Industries Corpn. Ltd. v. CIT [1968] 69 ITR 824 (MP), Traco Cable Co. Ltd. v. CIT [1969] 72 ITD 503 (Ker.), Addl. CIT v. Madras Fertilisers Ltd. [1980] 122 ITR 139 (Mad.) and Collis Line (P.) Ltd. v. ITO [1982] 135 ITR 390 (Ker,) dealt with the question posed herein. It was also submitted. that the :- 15 -: Elgen (India) Pv. Ltd., Hyd. Special Bench of the Tribunal at Madras in the case of Ara…

ANRAK ALUMINIUM LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-1(1), HYDERABAD, HYDERABAD

Appeal is partly allowed in foregoing terms

ITA 994/HYD/2017[2013-14]Status: DisposedITAT Hyderabad08 Feb 2021AY 2013-14

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri A.V.Raghuram, ARFor Respondent: Smt. Anjala Sahu, DR

Section 115JSection 143(3)Section 14A

…eived, would be income from business. That is to say interest received in the bank deposits cannot be said to have connection with the business unless he is in the business of banking. g) M/S Madhya Pradesh State Industries Corporation Limited Vs. CIT [1968] [69 ITR 824] (MP): The court held that newly established the claim of treating the interest income received as income from business, was obviously made for the purpose of deduction of a major portion of the expenses incurred. The court held it is not sufficient merely to look at the Memorandum of Association and to find out of the business at profits. It is a…

HAZARIBAG RANCHI EXPRESSWAY LTD,MUMBAI vs. ITO 14(2)(1), MUMBAI

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

ITA 6696/MUM/2017[2012-13]Status: DisposedITAT Mumbai22 Jan 2020AY 2012-13

Bench: Shri G. Manjunatha & Shri Ram Lal Negihazaribagh Ranchi Vs. Ito-14(2)(1) 4Th Floor, Expressway Ltd. The Il&Fs Financial Center Aaykar Bhawan Plot No.C-22, G Block M.K.Road Bkc, Bandra(E) Mumbai-400 020 Mumbai-400 051 Pan/Gir No.Aacch2490J Appellant) .. Respondent)

Section 234BSection 56(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “H”, BENCH MUMBAI BEFORE SHRI G. MANJUNATHA, ACCOUNTANT MEMBER & SHRI RAM LAL NEGI, JUDICIAL MEMBER Hazaribagh Ranchi Vs. ITO-14(2)(1) 4th Floor, Expressway Ltd. The IL&FS Financial Center Aaykar Bhawan Plot No.C-22, G Block M.K.Road BKC, Bandra(E) Mumbai-400 020 Mumbai-400 051 PAN/GIR No.AACCH2490J Appellant) .. Respondent) Revenue by Shri Sachchidanand Dube, DR Assessee by Shri Sandeep Bhalla & Ms. Niti Agarwal, AR’s Date of Hearing 06/01/2020 Date of Pronouncement 22/01/2020 आदेश आदेश / O R D E R आदेश आदेश PER G.MANJUNATHA (A.M): This appeal filed by the assessee is…

I.T.O. WARD -1(1), RAIPUR (CG) vs. M/S CMDC ICPL COAL LTD,, RAIPUR (CG)

In the result, the appeal of the assessee is allowed

ITA 271/BIL/2014[2011-12]Status: DisposedITAT Raipur12 Oct 2018AY 2011-12

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2011-12 Ito, Ward- 1(1), Cmdc Icpl Coal Ltd., Raipur (Cg). Rajbandha Maidan, G. E. Road, Vs. Raipur (Cg).

For Appellant: Shri R. B. Doshi, CAFor Respondent: Shri Ajit Kumar Laskar, DR

…tion of the appellant while distinguishing following decisions relied upon by the A.O in view of the divergent facts, (i) Tuticorin Alkali Chemicals & Fertilizers Ltd. v, CIT [1997] 227 ITR 172/93 Taxman 502; 9 M.P. State Industries Corpn. Ltd. v, CIT [1968) 69 ITR 824; (iii) Bharat Oman Refineries Ltd. v. Commissioner of Income-tax-I, [2013] 35 taxmann.com 187 (Madhya Pradesh); 23. I have also carefully gone through the latest decision in Commissioner of Income-tax -IV v. Indian Vaccines Corporation Ltd. reported in 44 taxmann.com 130 (Delhi) dated March 5, 2014 dealing with identical issue in which it was held…