Madras Industrial Investment Corporation Ltd. v. CIT

225 ITR 802Supreme Court of India1997#111 most cited

What is Madras Industrial Investment Corporation Ltd. v. CIT authority for?

Expenditure that provides an enduring benefit should be amortized over its useful life, not allowed as a deduction in a single year, to prevent a distorted picture of profits. Specifically, premium paid on debentures for their issue should be amortized on a straight-line method over the life of the debentures.

568

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2008 to 2026.

Also referred to as

Madras Industrial Investment Corporation Ltd. v. CIT · 225 ITR 802 · SC · enduring benefit · amortisation · section 37(1) · revenue expenditure · capital expenditure · premium on debentures · straight line method · matching principle

Sections most often in play

Section 143(3)Section 37(1)Section 153ASection 147Section 153CSection 132Section 14ASection 263
Read the full judgment

Issues it is cited on

enduring benefitsection 32(1)revenue expenditureintangible assetssection 32capital expendituresection 35commercial expediencysection 30book profitsamalgamationmercantile system of accounting

Judgments citing Madras Industrial Investment Corporation Ltd. v. CIT

ITO, Cw-1(1), Chennai vs. Inspirisys Solutions Ltd, Chennai

The appeals of the Revenue stand dismissed

ITA 11/CHNY/2022[2015-16]Status: DisposedITAT Chennai26 Jul 2024AY 2015-16

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos.9,10 & 11/Chny/2022 (िनधा"रणवष" / Assessment Years: 2012-13, 2014-15 & 2015-2016) & C.O.Nos.5, 6 &7/Chny/2023 (In Ita Nos.9,10 & 11/Chny/2022) The Income Tax Officer, Vs. M/S. Inspirisys Solutions Limited, Corporate Ward 1(1) First Floor, New Door Nos. 57,59,63 & 64, Chennai 600 034. Dowlath Towers, Taylors Road, Kilpauk, Chennai 600 010. [Pan: Aaaca 5622M] (अपीलाथ"/Appellant) (Respondent/ Cross Objector) Department By : Shri. Nilay Baran Som, Irs, Cit. Shri. Arv Srinivasan, Irs, Addl. Cit Assessee By : Shri. N.V. Balaji, Advocate सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 26.07.2024

For Appellant: Shri. N.V. Balaji, AdvocateFor Respondent: Shri. Nilay Baran Som, IRS, CIT
Section 14ASection 253

…of the matching concept, in a year where there is no exempt income, there cannot be a disallowance of expenditure in relation to such assumed income. Madras Industrial Investment 20 ITA Nos.9-11/Chny/2022 & CO Nos. 5-7/Chny/2023 Corpn. Ltd. v. CIT [1997] 225 ITR 802/91 Taxman 340 (SC). The language of s.14A (1) should be read in that context and such that it advances the scheme of the Act rather than distort it. 16. In conclusion, we are of the view that the provisions of s. 14A read with Rule 8D of the Rules cannot be made applicable in a vacuum i.e. in the absence of exempt income. The questions of law are…

ITO, Cw-1(1), Chennai vs. Inspirisys Solutions Limited, Chennai

The appeals of the Revenue stand dismissed

ITA 10/CHNY/2022[2014-15]Status: DisposedITAT Chennai26 Jul 2024AY 2014-15

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos.9,10 & 11/Chny/2022 (िनधा"रणवष" / Assessment Years: 2012-13, 2014-15 & 2015-2016) & C.O.Nos.5, 6 &7/Chny/2023 (In Ita Nos.9,10 & 11/Chny/2022) The Income Tax Officer, Vs. M/S. Inspirisys Solutions Limited, Corporate Ward 1(1) First Floor, New Door Nos. 57,59,63 & 64, Chennai 600 034. Dowlath Towers, Taylors Road, Kilpauk, Chennai 600 010. [Pan: Aaaca 5622M] (अपीलाथ"/Appellant) (Respondent/ Cross Objector) Department By : Shri. Nilay Baran Som, Irs, Cit. Shri. Arv Srinivasan, Irs, Addl. Cit Assessee By : Shri. N.V. Balaji, Advocate सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 26.07.2024

For Appellant: Shri. N.V. Balaji, AdvocateFor Respondent: Shri. Nilay Baran Som, IRS, CIT
Section 14ASection 253

…of the matching concept, in a year where there is no exempt income, there cannot be a disallowance of expenditure in relation to such assumed income. Madras Industrial Investment 20 ITA Nos.9-11/Chny/2022 & CO Nos. 5-7/Chny/2023 Corpn. Ltd. v. CIT [1997] 225 ITR 802/91 Taxman 340 (SC). The language of s.14A (1) should be read in that context and such that it advances the scheme of the Act rather than distort it. 16. In conclusion, we are of the view that the provisions of s. 14A read with Rule 8D of the Rules cannot be made applicable in a vacuum i.e. in the absence of exempt income. The questions of law are…

John Distilleries Pvt Ltd., Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-1(1), Bangalore

In the result, appeals of the assessee in ITA No

ITA 987/BANG/2023[2016-17]Status: DisposedITAT Bangalore24 Jul 2024AY 2016-17

Bench: Shri Chandra Poojari & Shri Keshav Dubey

…r in which it is incurred. It cannot be spread over a number of years even if the assessee has written it off in his books over a period of years. Reliance can be placed on Madras Industrial Investment Corporation Ltd. vs. CIT (1997) 139 CTR (SC) 555 : (1997) 225 ITR 802 (SC). 19. In view of the above discussion, it is very clear that there is no prohibition on the powers of the Tribunal to entertain an additional ground which according to the Tribunal arises in the matter and for the just decision of the case. Therefore, there is no infirmity in the order of the Tribunal." 12. Further, similar view has been ad…

John Distilleries Pvt Ltd., Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-1(1), Bangalore

ITA 986/BANG/2023[2015-16]Status: DisposedITAT Bangalore24 Jul 2024AY 2015-16

Bench: Shri Chandra Poojari & Shri Keshav Dubey

For Appellant: Sri T.M. Shivakumar, Sr. A.RFor Respondent: Ms. Neera Malhotra, D.R

…r in which it is incurred. It cannot be spread over a number of years even if the assessee has written it off in his books over a period of years. Reliance can be placed on Madras Industrial Investment Corporation Ltd. vs. CIT (1997) 139 CTR (SC) 555 : (1997) 225 ITR 802 (SC). 19. In view of the above discussion, it is very clear that there is no prohibition on the powers of the Tribunal to entertain an additional ground which according to the Tribunal arises in the matter and for the just decision of the case. Therefore, there is no infirmity in the order of the Tribunal." 12. Further, similar view has been addr…

John Distilleries Pvt Ltd., Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-1, Bangalore

ITA 983/BANG/2023[2012-13]Status: DisposedITAT Bangalore24 Jul 2024AY 2012-13

Bench: Shri Chandra Poojari & Shri Keshav Dubey

For Appellant: Sri T.M. Shivakumar, Sr. A.RFor Respondent: Ms. Neera Malhotra

…r in which it is incurred. It cannot be spread over a number of years even if the assessee has written it off in his books over a period of years. Reliance can be placed on Madras Industrial Investment Corporation Ltd. vs. CIT (1997) 139 CTR (SC) 555 : (1997) 225 ITR 802 (SC). 19. In view of the above discussion, it is very clear that there is no prohibition on the powers of the Tribunal to entertain an additional ground which according to the Tribunal arises in the matter and for the just decision of the case. Therefore, there is no infirmity in the order of the Tribunal." 12. Further, similar view has been addr…

John Developers, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-1(1), Bangalore

In the result, appeals of the assessee in ITA No

ITA 847/BANG/2023[2016-17]Status: DisposedITAT Bangalore24 Jul 2024AY 2016-17

Bench: Shri Chandra Poojari & Shri Keshav Dubey

…r in which it is incurred. It cannot be spread over a number of years even if the assessee has written it off in his books over a period of years. Reliance can be placed on Madras Industrial Investment Corporation Ltd. vs. CIT (1997) 139 CTR (SC) 555 : (1997) 225 ITR 802 (SC). 19. In view of the above discussion, it is very clear that there is no prohibition on the powers of the Tribunal to entertain an additional ground which according to the Tribunal arises in the matter and for the just decision of the case. Therefore, there is no infirmity in the order of the Tribunal." 12. Further, similar view has been ad…

John Developers, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-1(1), Bangalore

ITA 846/BANG/2023[2015-16]Status: DisposedITAT Bangalore24 Jul 2024AY 2015-16

…r in which it is incurred. It cannot be spread over a number of years even if the assessee has written it off in his books over a period of years. Reliance can be placed on Madras Industrial Investment Corporation Ltd. vs. CIT (1997) 139 CTR (SC) 555 : (1997) 225 ITR 802 (SC). 19. In view of the above discussion, it is very clear that there is no prohibition on the powers of the Tribunal to entertain an additional ground which according to the Tribunal arises in the matter and for the just decision of the case. Therefore, there is no infirmity in the order of the Tribunal." 12. Further, similar view has been addr…

John Developers, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-1(1), Bangalore

In the result, appeals of the assessee in ITA No

ITA 845/BANG/2023[2014-15]Status: DisposedITAT Bangalore24 Jul 2024AY 2014-15

Bench: Shri Chandra Poojari & Shri Keshav Dubey

…r in which it is incurred. It cannot be spread over a number of years even if the assessee has written it off in his books over a period of years. Reliance can be placed on Madras Industrial Investment Corporation Ltd. vs. CIT (1997) 139 CTR (SC) 555 : (1997) 225 ITR 802 (SC). 19. In view of the above discussion, it is very clear that there is no prohibition on the powers of the Tribunal to entertain an additional ground which according to the Tribunal arises in the matter and for the just decision of the case. Therefore, there is no infirmity in the order of the Tribunal." 12. Further, similar view has been ad…

M/S. Paul Resorts & Hotels Pvt Ltd, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-1(1), Bangalore

In the result, appeals of the assessee in ITA No

ITA 841/BANG/2023[2014-15]Status: DisposedITAT Bangalore24 Jul 2024AY 2014-15

Bench: Shri Chandra Poojari & Shri Keshav Dubey

…r in which it is incurred. It cannot be spread over a number of years even if the assessee has written it off in his books over a period of years. Reliance can be placed on Madras Industrial Investment Corporation Ltd. vs. CIT (1997) 139 CTR (SC) 555 : (1997) 225 ITR 802 (SC). 19. In view of the above discussion, it is very clear that there is no prohibition on the powers of the Tribunal to entertain an additional ground which according to the Tribunal arises in the matter and for the just decision of the case. Therefore, there is no infirmity in the order of the Tribunal." 12. Further, similar view has been ad…

M/S. Paul Resorts & Hotels Pvt Ltd, Bangalore vs. Deputy Commissioner of Income-Tax, Central Circle-1(1), Bangalore

In the result, appeals of the assessee in ITA No

ITA 840/BANG/2023[2013-14]Status: DisposedITAT Bangalore24 Jul 2024AY 2013-14

Bench: Shri Chandra Poojari & Shri Keshav Dubey

…r in which it is incurred. It cannot be spread over a number of years even if the assessee has written it off in his books over a period of years. Reliance can be placed on Madras Industrial Investment Corporation Ltd. vs. CIT (1997) 139 CTR (SC) 555 : (1997) 225 ITR 802 (SC). 19. In view of the above discussion, it is very clear that there is no prohibition on the powers of the Tribunal to entertain an additional ground which according to the Tribunal arises in the matter and for the just decision of the case. Therefore, there is no infirmity in the order of the Tribunal." 12. Further, similar view has been ad…

M/S. Paul Resorts & Hotels Pvt Ltd, Bangalore vs. Deputy Commissioner of Income-Tax, Central Circle-1(1), Bangalore

In the result, appeals of the assessee in ITA No

ITA 839/BANG/2023[2012-13]Status: DisposedITAT Bangalore24 Jul 2024AY 2012-13

Bench: Shri Chandra Poojari & Shri Keshav Dubey

…r in which it is incurred. It cannot be spread over a number of years even if the assessee has written it off in his books over a period of years. Reliance can be placed on Madras Industrial Investment Corporation Ltd. vs. CIT (1997) 139 CTR (SC) 555 : (1997) 225 ITR 802 (SC). 19. In view of the above discussion, it is very clear that there is no prohibition on the powers of the Tribunal to entertain an additional ground which according to the Tribunal arises in the matter and for the just decision of the case. Therefore, there is no infirmity in the order of the Tribunal." 12. Further, similar view has been ad…

M/S. Paul Resorts & Hotels Pvt. Ltd., Bangalore vs. Deputy Commissioner of Income-Tax, Central Circle-1(1), Bangalore

In the result, appeals of the assessee in ITA No

ITA 838/BANG/2023[2011-12]Status: DisposedITAT Bangalore24 Jul 2024AY 2011-12

Bench: Shri Chandra Poojari & Shri Keshav Dubey

…r in which it is incurred. It cannot be spread over a number of years even if the assessee has written it off in his books over a period of years. Reliance can be placed on Madras Industrial Investment Corporation Ltd. vs. CIT (1997) 139 CTR (SC) 555 : (1997) 225 ITR 802 (SC). 19. In view of the above discussion, it is very clear that there is no prohibition on the powers of the Tribunal to entertain an additional ground which according to the Tribunal arises in the matter and for the just decision of the case. Therefore, there is no infirmity in the order of the Tribunal." 12. Further, similar view has been ad…

Amalgam Foods Limited, Kochi vs. The DCIT, Circle-1, Alappuzha

In the result, the assessee’s appeal is partly allowed

ITA 561/COCH/2022[2001-2002]Status: DisposedITAT Cochin14 May 2024AY 2001-2002

Bench: Shri Sanjay Arora, Am & Ms. Kavitha Rajagopal, Jm Amalgam Foods Limited Dy. Cit, Circle-1, Alappuzha Amalgam House, Bristow Road, Vs. Willingdon Island, Kochi-682 002 [Pan:Aabca 8283D] (Assessee) : (Respondent) Assessee By : None Respondent By : Smt. J. M. Jamuna Devi Date Of Hearing : 14.02.2024 : 14.05.2024 Date Of Pronouncement O R D E R Per Bench: This Is An Appeal By The Assessee, Directed Against The Order Dated 28.03.2022 By The Commissioner Of Income-Tax (Appeals), Income Tax Department [Cit(A)], Dismissing The Assessee’S Appeal Contesting It’S Assessment Under Section 143(3) Read With Section 254 Of The Income-Tax Act, 1961 (The Act) Dated 26.12.2019, For Assessment Year (Ay) 2001-2002. 2. None Appeared For & On Behalf Of The Assessee-Appellant When The Appeal Was Called Out For Hearing. Taking Note Of The Request Dated 05.02.2024 By Sri R. Srinivasan, Ca, The Learned Counsel For The Assessee, That His Personal Appearance May Be Dispensed With & The Matter Decided After Considering Written Submissions, Enclosed Along With, The Hearing In The Matter Was Proceeded With.

For Appellant: NoneFor Respondent: Smt. J. M. Jamuna Devi
Section 143(3)Section 254

…atuity, leave encashment, sale warranty, etc., and toward which we may advert to decisions in Rotrak Controls India P. Ltd. v. CIT [2009] 314 ITR 62 (SC), Bharat Earth Movers Ltd. v. CIT [2000] 245 ITR 428 (SC); Madras Industrial Inv. Corp. Ltd. v. CIT [1997] 225 ITR 802 (SC), to cite few, as also to CIT v. British Paints (I) Ltd. [1991] 188 ITR 44 (SC). Financial obligation in FE may also be added to this list. The actual discharge of the liability during the relevant year is not a condition precedent. This shall also meet the Revenue’s objection that the loss arising on repayment is w.r.t. the rates obtaining t…

Concentrix Services India Private Limited (Formerly Known As Minacs Private Limited, Minacs Limited and Aditya Birla Minacs Worldwide Limited), Mumbai vs. DCIT 10(2)(2), Mumbai

In the result, the additional ground of appeal of the assessee is dismissed

ITA 1235/MUM/2015[2010-11]Status: DisposedITAT Mumbai29 Apr 2024AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.1235/Mum/2015 (निर्धारण वर्ा / Assessment Year: 2010-11) Concentrix Services India बिधम/ Dcit-10(2)(2) Pvt. Ltd Room No. 209, Aayakar Vs. (Formerly Known As Minacs Bhavan, M. K. Road, Pvt. Ltd, Minacs Limited Churchgate, Mumbai- & Aditya Birla Minacs 400020. Worldwide Limited) 9Th Floor, Symphony It Park, Chandivali Farm Road, Andheri (E), Mumbai-400072. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaact1567A (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Chaitanya Joshi & Riken Shah Revenue By: Shri P. Sudhakar Naik सुनवाई की तारीख / Date Of Hearing: 01/04/2024 घोषणा की तारीख /Date Of Pronouncement: 29/04/2024 आदेश / O R D E R Per Aby T. Varkey, Jm: This Appeal Is Filed By The Assessee Against The Assessment Order Passed U/S 143(3) Read With Section 144C(13) Of The Income Tax Act, 1961 (Hereinafter “The Act”) Dated 30.01.2015 Passed By The Dcit- 10(2)(2), Mumbai For Ay. 2010-11, Pursuant To Direction Of The Dispute Resolution Panel-1, Mumbai (Hereinafter “The Ld. Drp”) Dated 27.10.2014. 2. At The Outset, The Ld. Ar Has Brought To Our Notice That This Appeal Of The Assessee Company For The Relevant Year I.E. Ay. 2010-11 Was Partly Allowed By This Tribunal Vide Order Dated 12.06.2023. & Thereafter, The Assessee Preferred A Miscellaneous Application (Ma)

For Appellant: Shri Chaitanya Joshi & Riken ShahFor Respondent: Shri P. Sudhakar Naik
Section 143(3)Section 144C(13)Section 37

…s Vs. DCIT (ITA. No.1549/Bag/2019 6. Further, according to the Ld. AR, the payment of premium on redemption of debentures is allowable as a revenue expenditure and relied on the following case laws: - i. Madras Industrial Investment Corporation Ltd Vs. CIT (225 ITR 802) (SC) ii. National Engg. Industries Ltd Vs. CIT (106 Taxman 443) (Cal HC) iii. CIT Vs. First Leasing Company of India Ltd (Tax Case Appeal No. 209 of 2006 & 1099 of 2004 (Madras HC) 5 A.Y. 2010-11 M/s. Concentrix Services India Pvt. Ltd. 7. According to Ld. AR, accounting treatment is not decisive of allowability of the claim made by assessee…

ACIT, Circle 22(2), New Delhi vs. Snapdeal Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 184/DEL/2023[2017-18]Status: DisposedITAT Delhi26 Apr 2024AY 2017-18

Bench: Shri G.S. Pannu, Hon’Ble & Ms. Astha Chandraasstt. Year: 2017-18

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Shri Dharamvir Singh, CIT-DR

…ch expenditure, even in the year in which it is incurred, and the expenditure fulfils the test laid down under section 37 of the Act> it has to be allowed. Only in exceptional cases, the nature mentioned in Madras Industrial Investment Corporation Ltd. [1997] 225 ITR 802 (SC), the expenditure can be allowed to be spread over, that too, when the assessee chooses to do so." (ii) Casio India Ltd. (335 ITR 196) "4. Challenging this order, the instant appeal is preferred by the, Revenue under section 260A of the Act. Having regard to the facts narrated above, we are of the opinion that no question of law arises in t…

DCIT, Circle -5 Kolkata, Kolkata vs. M/S Hindusthan Copper Ltd., Kolkata

In the result, all the appeals of the revenue are dismissed

ITA 893/KOL/2012[2008-2009]Status: DisposedITAT Kolkata22 Apr 2024AY 2008-2009

Bench: SHRI RAJESH KUMAR, HON’BLE (Accountant Member), SHRI SONJOY SARMA, HON’BLE (Judicial Member)

For Appellant: Shri S. Bhattacharya, ARFor Respondent: Shri Abhijit Kundu, CIT
Section 35DSection 35ESection 37(1)

…ned order wherein the assessment year 2002-03 on the similar issue, the ld. CIT(A) has passed an order in favour of the assessee relying on the judgment rendered by the Hon’ble Supreme Court in the case of Madras Industrial Investment Corporation Ltd. vs CIT (225 ITR 802)(SC) and the ld. CIT(A) in his order stated the fact in the following manner: M/s. Hindusthan Copper Ltd. A.Y. 2002-03 to 2004-05 & 2008-09 “20. The Ld. CIT(A-V, Kolkata for the Assessment rear 2002-03 in appeal order no. CIT(A)-V/Kol/70/Cir-5/05-06 dated 15.04 2008 has observed on this issue as follows:- "I have perused the assessment order, the…

JCIT(OSD), Circle -5, Kolkata vs. M/S Hindusthan Copper Ltd., Kolkata

In the result, all the appeals of the revenue are dismissed

ITA 824/KOL/2012[2004-05]Status: DisposedITAT Kolkata22 Apr 2024AY 2004-05

Bench: SHRI RAJESH KUMAR, HON’BLE (Accountant Member), SHRI SONJOY SARMA, HON’BLE (Judicial Member)

For Appellant: Shri S. Bhattacharya, ARFor Respondent: Shri Abhijit Kundu, CIT
Section 35DSection 35ESection 37(1)

…ned order wherein the assessment year 2002-03 on the similar issue, the ld. CIT(A) has passed an order in favour of the assessee relying on the judgment rendered by the Hon’ble Supreme Court in the case of Madras Industrial Investment Corporation Ltd. vs CIT (225 ITR 802)(SC) and the ld. CIT(A) in his order stated the fact in the following manner: M/s. Hindusthan Copper Ltd. A.Y. 2002-03 to 2004-05 & 2008-09 “20. The Ld. CIT(A-V, Kolkata for the Assessment rear 2002-03 in appeal order no. CIT(A)-V/Kol/70/Cir-5/05-06 dated 15.04 2008 has observed on this issue as follows:- "I have perused the assessment order, the…

JCIT(OSD), Circle -5, Kolkata vs. M/S Hindusthan Copper Ltd., Kolkata

In the result, all the appeals of the revenue are dismissed

ITA 823/KOL/2012[2003-04]Status: DisposedITAT Kolkata22 Apr 2024AY 2003-04

Bench: SHRI RAJESH KUMAR, HON’BLE (Accountant Member), SHRI SONJOY SARMA, HON’BLE (Judicial Member)

For Appellant: Shri S. Bhattacharya, ARFor Respondent: Shri Abhijit Kundu, CIT
Section 35DSection 35ESection 37(1)

…ned order wherein the assessment year 2002-03 on the similar issue, the ld. CIT(A) has passed an order in favour of the assessee relying on the judgment rendered by the Hon’ble Supreme Court in the case of Madras Industrial Investment Corporation Ltd. vs CIT (225 ITR 802)(SC) and the ld. CIT(A) in his order stated the fact in the following manner: M/s. Hindusthan Copper Ltd. A.Y. 2002-03 to 2004-05 & 2008-09 “20. The Ld. CIT(A-V, Kolkata for the Assessment rear 2002-03 in appeal order no. CIT(A)-V/Kol/70/Cir-5/05-06 dated 15.04 2008 has observed on this issue as follows:- "I have perused the assessment order, the…

JCIT(OSD), Circle-5, Kolkata vs. M/S Hindusthan Copper Ltd., Kolkata

In the result, all the appeals of the revenue are dismissed

ITA 822/KOL/2012[2002-2003]Status: DisposedITAT Kolkata22 Apr 2024AY 2002-2003

Bench: SHRI RAJESH KUMAR, HON’BLE (Accountant Member), SHRI SONJOY SARMA, HON’BLE (Judicial Member)

For Appellant: Shri S. Bhattacharya, ARFor Respondent: Shri Abhijit Kundu, CIT
Section 35DSection 35ESection 37(1)

…ned order wherein the assessment year 2002-03 on the similar issue, the ld. CIT(A) has passed an order in favour of the assessee relying on the judgment rendered by the Hon’ble Supreme Court in the case of Madras Industrial Investment Corporation Ltd. vs CIT (225 ITR 802)(SC) and the ld. CIT(A) in his order stated the fact in the following manner: M/s. Hindusthan Copper Ltd. A.Y. 2002-03 to 2004-05 & 2008-09 “20. The Ld. CIT(A-V, Kolkata for the Assessment rear 2002-03 in appeal order no. CIT(A)-V/Kol/70/Cir-5/05-06 dated 15.04 2008 has observed on this issue as follows:- "I have perused the assessment order, the…

Express Publications (Madurai)Private Ltd., Chennai vs. DCIT, Corporate Circle-II(1), Chennai

Appeal stand dismissed

ITA 754/CHNY/2023[2012-13]Status: DisposedITAT Chennai27 Mar 2024AY 2012-13

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपीलसं./ Ita No.730/Chny/2023 (िनधा*रणवष* / Assessment Year: 2010-11) & 2. आयकरअपीलसं./ Ita No.737/Chny/2023 (िनधा*रणवष* / Assessment Year: 2011-12) & 3. आयकरअपीलसं./ Ita No.754/Chny/2023 (िनधा*रणवष* / Assessment Year: 2012-13) M/S. Express Publications (Madurai) Dcit P. Ltd. Corporate Circle-Ii(1) बनाम/ C/O. Sri T.N. Seetharaman, Advocate Chennai. Vs. 384 (Old No.196) Lloyds Road, Chennai-600 086. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaaci-0842-D (अपीलाथ"/Appellant) : (" थ" / Respondent) & 4. आयकरअपीलसं./ Ita No.1219/Chny/2023 (िनधा*रणवष* / Assessment Year: 2012-13) Dcit M/S. Express Publications (Madurai) P. Corporate Circle-Ii(1) Ltd. बनाम/ Vs. Chennai C/O. Sri T.N.Seetharaman, Advocate 384 (Old No.196) Lloyds Road, Chennai-600 086. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaaci-0842-D (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Assessee By : Shri T.N. Seetharaman (Advocate)- Ld.Ar " थ"कीओरसे/Revenue By : Shri D. Hema Bhupal (Jcit)-Ld. Dr सुनवाई की तारीख/Date Of Hearing : 20-03-2024 घोषणा की तारीख /Date Of Pronouncement : 27-03-2024

For Appellant: Shri T.N. Seetharaman (Advocate)- Ld.ARFor Respondent: Shri D. Hema Bhupal (JCIT)-Ld. DR
Section 143(3)Section 36(1)(iii)

…ng year 2009-10 (A.Y 2010-11), 7. The authorities below failed to see that the appellant's treatment of the expenditure on spread over basis finds full support in the judgment of the Supreme Court in Madras Industrial Investment Corporation Ltd vs. CIT (1999) 225 ITR 802 (SC) followed by the Ahmedabad B Bench of the Tribunal in ACIT vs. Amtrex Applications Ltd (2005) 94 TT J (Ahd) 396 and order of the ITAT, Delhi Bench 'A' in ACIT vs. Medicamen Biotech Ltd reported in (2005) 1 SOT 347 (Delhi). 8 .In the light of the facts of the case and the judicial decisions cited the appellant prays that the Hon'ble Tribunal b…