M/s. Nectar Beverages Pvt. Ltd. v. DCIT

267 ITR 385High Court2004#24115 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 348,487 Indian tax judgments — from 2017 to 2018.

Judgments citing M/s. Nectar Beverages Pvt. Ltd. v. DCIT

Everest Industires Ltd, New Delhi vs. JCIT RG 1, Mumbai

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

ITA 3804/MUM/2015[2009-10]Status: DisposedITAT Mumbai31 Jan 2018AY 2009-10

Bench: S/Shri B.R. Baskaran (Am) & Ramlal Negi (Jm)

…nds of the assessee. The second proposition raised by the Assessing Officer that the said subsidy is to be added as income under section 41(1) of the Act, in view of the ratio laid down by Hon'ble Bombay High Court in Nector Beverages (P) Ltd. Vs. DCIT (2004) 267 ITR 385 (Bom) 5 Everest Industries Limited has been reversed by the CIT(A) since the Hon'ble Supreme Court has reversed the decision of Hon'ble Bombay High Court in Nector Beverages (P) Ltd. Vs. DCIT (supra). The Revenue is also not in appeal against the said proposition and the same stands accepted. The third proposition proposed by the Assessing Offi…

Asst CIT Cir 11(5) vs. Jsw Steel Ltd

In the result assessee’s appeal is partly allowed whereas revenue’s appeal is dismissed

ITA 930/BANG/2009[2004-05]Status: DisposedITAT Mumbai13 Jan 2017AY 2004-05

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05

For Appellant: S/Shri Kanchan Kaushal & Hirali Desai, A.RFor Respondent: Shri Alok Johri, CIT D.R
Section 115JSection 139(1)Section 143(3)Section 234BSection 244A

…owed in the previous year amounting to Rs.109.41 crores was held to be taxable under section 41(1). While doing so, the Assessing Officer relied upon the decision of Hon’ble Bombay High Court in the case of M/s. Nectar Beverages Pvt. Ltd. vs. DCIT reported in 267 ITR 385. In sum and substance the Assessing Officer’s conclusion was as under: ITA No.923/Bang/2009 & ITA No.930/Bang/2009 56 M/s. JSW Steel Limited, (formerly known as Jindal Vijaynagar Steel Limited) “(i) Depreciation is in the nature of expenditure and deductible from tax liability and therefore, any subsequent recovery of any amount which can be li…

Jsw Steel Ltd vs. Asst CIT Cir 11(5)

In the result assessee’s appeal is partly allowed whereas revenue’s appeal is dismissed

ITA 923/BANG/2009[2004-05]Status: DisposedITAT Mumbai13 Jan 2017AY 2004-05

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05

For Appellant: S/Shri Kanchan Kaushal & Hirali Desai, A.RFor Respondent: Shri Alok Johri, CIT D.R
Section 115JSection 139(1)Section 143(3)Section 234BSection 244A

…owed in the previous year amounting to Rs.109.41 crores was held to be taxable under section 41(1). While doing so, the Assessing Officer relied upon the decision of Hon’ble Bombay High Court in the case of M/s. Nectar Beverages Pvt. Ltd. vs. DCIT reported in 267 ITR 385. In sum and substance the Assessing Officer’s conclusion was as under: ITA No.923/Bang/2009 & ITA No.930/Bang/2009 56 M/s. JSW Steel Limited, (formerly known as Jindal Vijaynagar Steel Limited) “(i) Depreciation is in the nature of expenditure and deductible from tax liability and therefore, any subsequent recovery of any amount which can be li…

M/s. Nectar Beverages Pvt. Ltd. v. DCIT (267 ITR 385) — Cited in 3 Judgments | BharatTax