Maharana Mills P. Ltd. v. ITO

36 ITR 350Supreme Court of India1959#6666 most cited
17

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Sections most often in play

Section 1961Section 131 of the Income Tax ActSection 133(6) of the Income Tax ActSection 250 of the Income Tax ActSection 276CC of the Income Tax ActSection 68 of the Income Tax Act

Judgments citing Maharana Mills P. Ltd. v. ITO

DCIT,CENTRAL CIRCLE-1, GUWAHATI vs. SATISH JALAN, SHILLONG

Appeal of the Revenue is allowed for statistical purposes

ITA 62/GTY/2025[2017-18]Status: DisposedITAT Guwahati17 Nov 2025AY 2017-18

Bench: Hon'Ble Itat. 3. There Are Currently More Than 300 Time Barred Assessment & 200 Penalty Cases Are Pending In This Office. Due To Shortage Of Manpower It Was Delayed In The Filing Of Appeal Before Hon'Ble Itat.

Section 131Section 250Section 68

…f a High Court in one assessment year based on the Tribunal's findings does not preclude consideration in a future assessment of the question whether those facts and circumstances were correctly found by the Tribunal. In Maharana Mills (P.) Ltd. v. ITO [1959] 36 ITR 350, the Hon’ble Supreme Court held that the plea that the written down value of an asset once fixed cannot be re-determined again, was not acceptable and that there is no estoppel or res judicata involved. The Hon’ble Allahabad High Court examined the doctrine of res judicata in tax proceedings in Kamalapat Motilal v. CIT [1950] 18 ITR 812, and the…

CHINMAYA EDUCATIONAL SOCIETY, CHINMAYA VIDYALAYA, UHF, NAUNI,SOLAN vs. ITO WARD EXEMPTIONS, SOLAN

In the result, appeal filed by the Assessee is dismissed

ITA 528/CHANDI/2022[2015-16]Status: DisposedITAT Chandigarh04 Jul 2024AY 2015-16

Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 528/Chd/2022 "नधा"रण वष" / Assessment Year : 2015-16 Chinmaya Educational Society, Vs. The Ito, Chinmaya Vidyalaya,, Ward Exemptions, बनाम Uhf, Nauni, Solan 172230 Solan Himachal Pradesh "थायी लेखा सं./Pan No: Aaatc2581J अपीलाथ" ./ Appellant ""यथ" / Respondent ( Hybrid Mode ) "नधा"रती क" ओर से/Assessee By : Sh. Vishal Mohan, Sr. Advocate With Shri Parveen Sharma, Advocate. राज"व क" ओर से/ Revenue By : Smt. Amanpreet Kaur, Dr सुनवाई क" तार"ख/Date Of Hearing : 04.06.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 04 .07.2024 आदेश/Order Per Dr. Krinwant Sahay, A.M.:

For Appellant: Sh. Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, AdvocateFor Respondent: Smt. Amanpreet Kaur, DR
Section 143(1)Section 143(3)Section 154

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ, च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCH, ‘A’, CHANDIGARH BEFORE SHRI A.D. JAIN, VICE PRESIDENT & DR KRINWANT SAHAY, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 528/CHD/2022 "नधा"रण वष" / Assessment Year : 2015-16 Chinmaya Educational Society, Vs. The ITO, Chinmaya Vidyalaya,, Ward Exemptions, बनाम UHF, Nauni, Solan 172230 Solan Himachal Pradesh "थायी लेखा सं./PAN No: AAATC2581J अपीलाथ" ./ Appellant ""यथ" / Respondent ( HYBRID MODE ) "नधा"रती क" ओर से/Assessee by : Sh. Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, Advocate. राज"व क" ओर से/ Revenue by : S…

ADDL. CIT, NEW DELHI vs. M/S. MMTC LTD., NEW DELHI

ITA 3574/DEL/2017[2009-10]Status: DisposedITAT Delhi24 May 2023AY 2009-10

Bench: Sh. Anil Chaturvedi & Sh. Anubhav Sharmaaddl. Cit Vs. M/S. Mmtc Ltd. Special Range-6, Core-1, Scope Complex, Room No. 352, Lodhi Road, C.R.Building, I.P.Estate New Delhi New Delhi Pan : Aaacm1433E (Appellant) (Respondent)

Section 143(3)Section 154Section 43B

…a mistake apparent from the record, the Ld. Counsel relied the judgments in T.s.Balaram, ITO v. Volkart Brothers 82 ITR 50(SC) and CIT v. Hero Cycles P. ltd. 228 ITR 463 (SC), Travancore Rayons Ltd. v. ITO 109 ITR 43 (Ker), Maharana Mills Pvt. Limited v. ITO 36 ITR 350 (SC, CIT v. Delhi Cement Stockists 81 ITR 515 (Del.) and Nirmal Udyog v. CIT 232 ITR 493 (MP). Bombay High Court in the case of Universal Medicare (P) Ltd.: 324 ITR 263. 5.2 He submitted that the co-ordinate bench of Delhi in the case of Integrated Databases India Ltd. vs. ITO, ITA No. 5055/Del/2016 has considered a similar issue and decided in fa…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -2(1), JABALPUR vs. M/S. MAHAKAUSHAL SUGAR & POWER INDUSTRIES LTD., NARSINGHPUR

In the result, the Revenue’s appeal is partly allowed for statistical purposes

ITA 44/JAB/2020[2017-18]Status: DisposedITAT Jabalpur29 Nov 2022AY 2017-18

Bench: Shri Sanjay Arora, Hon’Ble & Shri Manomohan Das, Hon'Ble

For Appellant: Shri Sanjay Kumar, CIT-DRFor Respondent: Shri Rahul Bardia, FCA
Section 143(3)Section 69Section 80

…IN THE INCOME TAX APPELLATE TRIBUNAL JABALPUR BENCH, JABALPUR (through web-based video conferencing platform) BEFORE SHRI SANJAY ARORA, HON’BLE ACCOUNTANT MEMBER & SHRI MANOMOHAN DAS, HON'BLE JUDICIAL MEMBER I.T.A. No. 44/JAB/2020 (Asst. Year: 2017-18) ACIT, Circle-2(1), Jabalpur. vs. Mahakaushal Sugar & Power Industries Ltd., Narsinghpur. [PAN : AAECM 3666 P] (Appellant) (Respondent) Appellant by : Shri Sanjay Kumar, CIT-DR Respondent by : Shri Rahul Bardia, FCA Date of hearing : 02/09/2022 Date of pronouncement : 29/11/2022 O R D E R Per Sanjay Arora, AM: This is an Appeal by the Revenue agitating the Or…

M/S. SHARADA PAPER COMPANY,,PUNE vs. INCOME-TAX OFFICER, WARD - 11 (4),, PUNE

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

ITA 1547/PUN/2019[2007-08]Status: DisposedITAT Pune29 Sept 2022AY 2007-08

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकरअपीलसं. / Ita No.1547/Pun/2019 िनधा"रणवष" / Assessment Year : 2007-08 M/S.Sharada Paper Company, The Income Tax Officer, 436/8, Narayan Peth, Vs Ward-11(4), Pune. Maharashtra – 411030. Pan: Aaffs 1470 H Appellant/ Assessee Respondent / Revenue Assessee By Shri Suhas Bora – Ar Revenue By Shri M.G.Jasnani – Dr Date Of Hearing 13/07/2022 Date Of Pronouncement 29/09/2022 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of Ld.Commissioner Of Income Tax(Appeals)-8, Pune For The Assessment Year 2007-08 Dated 18.07.2019 Arising Out Of Order Under Section 154 Of The Income Tax Act, 1961 Dated 25.03.2013. The Assessee Has Raised Following Grounds Of Appeal: “1. The Learned Commissioner Of Income Tax (Appeal -8) Has Erred In Confirming The Withdrawal Of Claim For The Carry Forward Of Loss For A.Y. 2003-04, A.Y. 2004-05, A.Y.2005-06 & A.Y.2006- 07 Without Verifying The Facts. 2. The Learned Commissioner Of Income Tax (Appeal -8) Has Erred In Confirming The Rectification Order Passed By The Assessing Officer Under Section 154 & Thereby Withdrawing Loss Allowed In The Assessment Made Under Section 143(3) Of Income Taxact,1961 Without Appreciating The Fact That This Is Not Mistake Apparent From Records & Hence Cannot Be Rectified Under 154 Of The Act.

Section 139(1)Section 139(3)Section 139(5)Section 142(1)Section 143(3)Section 154Section 44A

…nder section 154. So, the action of the ITO in proceedings under section 154, after the proceedings under section 147 have become time-barred, cannot be said to be mala fide.” Unquote. 5.7 The Hon’ble SC has observed in the case of Maharana Mills Ltd vs. ITO 36 ITR 350 as under : Quote, “The question therefore is was it a mistake apparent from the record which the Income-tax Officer has rectified. It was submitted that recalculation is not rectifying a mistake which is apparent from the record. The words used in the ITA No.1547/PUN/2019 for A.Y. 2007-08 M/s. Sharada Paper Company Vs. ITO, Ward-11(4), Pune[A] se…

DCIT, CIRCLE-2(2), NEW DELHI vs. ANANT RAJ LTD., NEW DELHI

The appeal is allowed partly as indicated above

ITA 5238/DEL/2017[2012-13]Status: DisposedITAT Delhi27 Nov 2020AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Sanjay Goel, CIT-DRFor Respondent: Shri Vinod Kumar Bindal, CA; Ms
Section 143(3)Section 147Section 148Section 50

…r.) g) CIT vs Ram Lal Babu Lal [1998] 148 CTR (Punj. &Har.) 643 23 I.T.As. No.4736, 5237 & 5238/DEL/2017 h) Omega Sports & Radio Works vs CIT [1982] 134 ITR 28 (All.) i) Gammon India Ltd vs CIT [1995] 214 ITR 50 (Bom) j) Maharana Mills (P) Ltd vs ITO [1959] 36 ITR 350 (SC) k) Addl. CIT vs Kanta Behan [1983] 140 ITR 187 (Delhi) l) Rastriya Ispat Nigam Ltd vs ACIT [2016] 74 taxmann.com 112 (AP) m) ACIT vs Hughes Services (FE) Pte Ltd [2005] 93 ITD 77 (Delhi)(TM) 8. Further, the learned Assessing Officer also erred in law and on facts in ignoring the fact that the Revenue can only charge tax as per law as has bee…

DCIT, CIRCLE-2(2), NEW DELHI vs. ANANT RAJ LTD., NEW DELHI

The appeal is allowed partly as indicated above

ITA 5237/DEL/2017[2009-10]Status: DisposedITAT Delhi27 Nov 2020AY 2009-10

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Sanjay Goel, CIT-DRFor Respondent: Shri Vinod Kumar Bindal, CA; Ms
Section 143(3)Section 147Section 148Section 50

…r.) g) CIT vs Ram Lal Babu Lal [1998] 148 CTR (Punj. &Har.) 643 23 I.T.As. No.4736, 5237 & 5238/DEL/2017 h) Omega Sports & Radio Works vs CIT [1982] 134 ITR 28 (All.) i) Gammon India Ltd vs CIT [1995] 214 ITR 50 (Bom) j) Maharana Mills (P) Ltd vs ITO [1959] 36 ITR 350 (SC) k) Addl. CIT vs Kanta Behan [1983] 140 ITR 187 (Delhi) l) Rastriya Ispat Nigam Ltd vs ACIT [2016] 74 taxmann.com 112 (AP) m) ACIT vs Hughes Services (FE) Pte Ltd [2005] 93 ITD 77 (Delhi)(TM) 8. Further, the learned Assessing Officer also erred in law and on facts in ignoring the fact that the Revenue can only charge tax as per law as has bee…

ANANT RAJ LTD.,NEW DELHI vs. DCIT, CIRCLE-2(2), NEW DELHI

The appeal is allowed partly as indicated above

ITA 4736/DEL/2017[2009-10]Status: DisposedITAT Delhi27 Nov 2020AY 2009-10

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Sanjay Goel, CIT-DRFor Respondent: Shri Vinod Kumar Bindal, CA; Ms
Section 143(3)Section 147Section 148Section 50

…r.) g) CIT vs Ram Lal Babu Lal [1998] 148 CTR (Punj. &Har.) 643 23 I.T.As. No.4736, 5237 & 5238/DEL/2017 h) Omega Sports & Radio Works vs CIT [1982] 134 ITR 28 (All.) i) Gammon India Ltd vs CIT [1995] 214 ITR 50 (Bom) j) Maharana Mills (P) Ltd vs ITO [1959] 36 ITR 350 (SC) k) Addl. CIT vs Kanta Behan [1983] 140 ITR 187 (Delhi) l) Rastriya Ispat Nigam Ltd vs ACIT [2016] 74 taxmann.com 112 (AP) m) ACIT vs Hughes Services (FE) Pte Ltd [2005] 93 ITD 77 (Delhi)(TM) 8. Further, the learned Assessing Officer also erred in law and on facts in ignoring the fact that the Revenue can only charge tax as per law as has bee…

SHRI VIKRAM SINGH SHEKHAWAT,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE, SIKAR

In the result, the appeals filed by the assessee in ITA No

ITA 484/JPR/2019[2013-14]Status: DisposedITAT Jaipur23 Jan 2020AY 2013-14
For Appellant: Shri Shrawan Kumar Gupta, AdvocateFor Respondent: Shri K.C. Gupta, JCIT DR
Section 143(3)Section 145(3)Section 154Section 234A

…o be discovered after interpretation of a certain section and investigation of certain facts. In the premises there cannot be any jurisdiction for the ITO to take proceedings under s. 154 in view of the facts disclosed.— Maharana Mills (P) Ltd. vs. ITO (1959) 36 ITR 350 (SC) : TC53R.275, National Rayon Corporation Ltd. vs. G.R. Bahmani, ITO (1965) 56 ITR 114 (Bom) : TC53R.145, Volkart Bros. vs. ITO (1967) 65 ITR 179 (Bom) : TC53R.168 and P.M. Bharucha & Co. vs. G.S. Venkatesan, ITO (1969) 74 ITR 513 (Guj) : TC33R.480 relied on. 13 Shri Vikram Singh Shekhawat vs DCIT Circle –Sikar 2.5 In the case Coates Of India…

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. M/S. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

ITA 937/JPR/2017[2011-12]Status: DisposedITAT Jaipur07 Feb 2018AY 2011-12
For Appellant: Shri Subhash Porwal (C.A.)For Respondent: Shri Varinder Mehta (CIT)
Section 271(1)(c)Section 32

…date of transfer is indicated in section 43(1), Explanation 6. Thus, the actual cost to the transferee-company will be the WDV of the holding company (transferor-company). 13. The assessee based its submission relying on Maharana Mills P. Ltd. v. ITO [1959] 36 ITR 350 (SC) and Saharanpur Electric Supply Co. Ltd. v. CIT [1992] 194 ITR 294 (SC). The ACIT v M/s Ajmer Vidyut Vitaran Nigam Ltd., Ajmer assessee has also relied on Ciba of India Ltd. v. CIT [1993] 202 ITR 1 (Bom) as also on CIT v. Hides and Leather Products P. Ltd. [1975] 101 ITR 61 (Guj). It is required to be noted that the Revenue as well as the ass…

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

ITA 935/JPR/2017[2009-10]Status: DisposedITAT Jaipur07 Feb 2018AY 2009-10
For Appellant: Shri Subhash Porwal (C.A.)For Respondent: Shri Varinder Mehta (CIT)
Section 271(1)(c)Section 32

…date of transfer is indicated in section 43(1), Explanation 6. Thus, the actual cost to the transferee-company will be the WDV of the holding company (transferor-company). 13. The assessee based its submission relying on Maharana Mills P. Ltd. v. ITO [1959] 36 ITR 350 (SC) and Saharanpur Electric Supply Co. Ltd. v. CIT [1992] 194 ITR 294 (SC). The ACIT v M/s Ajmer Vidyut Vitaran Nigam Ltd., Ajmer assessee has also relied on Ciba of India Ltd. v. CIT [1993] 202 ITR 1 (Bom) as also on CIT v. Hides and Leather Products P. Ltd. [1975] 101 ITR 61 (Guj). It is required to be noted that the Revenue as well as the ass…

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. M/S. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

ITA 934/JPR/2017[2005-06]Status: DisposedITAT Jaipur07 Feb 2018AY 2005-06
For Appellant: Shri Subhash Porwal (C.A.)For Respondent: Shri Varinder Mehta (CIT)
Section 271(1)(c)Section 32

…date of transfer is indicated in section 43(1), Explanation 6. Thus, the actual cost to the transferee-company will be the WDV of the holding company (transferor-company). 13. The assessee based its submission relying on Maharana Mills P. Ltd. v. ITO [1959] 36 ITR 350 (SC) and Saharanpur Electric Supply Co. Ltd. v. CIT [1992] 194 ITR 294 (SC). The ACIT v M/s Ajmer Vidyut Vitaran Nigam Ltd., Ajmer assessee has also relied on Ciba of India Ltd. v. CIT [1993] 202 ITR 1 (Bom) as also on CIT v. Hides and Leather Products P. Ltd. [1975] 101 ITR 61 (Guj). It is required to be noted that the Revenue as well as the ass…

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. M/S. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

ITA 933/JPR/2017[2004-05]Status: DisposedITAT Jaipur07 Feb 2018AY 2004-05
For Appellant: Shri Subhash Porwal (C.A.)For Respondent: Shri Varinder Mehta (CIT)
Section 271(1)(c)Section 32

…date of transfer is indicated in section 43(1), Explanation 6. Thus, the actual cost to the transferee-company will be the WDV of the holding company (transferor-company). 13. The assessee based its submission relying on Maharana Mills P. Ltd. v. ITO [1959] 36 ITR 350 (SC) and Saharanpur Electric Supply Co. Ltd. v. CIT [1992] 194 ITR 294 (SC). The ACIT v M/s Ajmer Vidyut Vitaran Nigam Ltd., Ajmer assessee has also relied on Ciba of India Ltd. v. CIT [1993] 202 ITR 1 (Bom) as also on CIT v. Hides and Leather Products P. Ltd. [1975] 101 ITR 61 (Guj). It is required to be noted that the Revenue as well as the ass…

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. M/S. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

ITA 890/JPR/2017[2007-08]Status: DisposedITAT Jaipur07 Feb 2018AY 2007-08
For Appellant: Shri Subhash Porwal (C.A.)For Respondent: Shri Varinder Mehta (CIT)
Section 271(1)(c)Section 32

…date of transfer is indicated in section 43(1), Explanation 6. Thus, the actual cost to the transferee-company will be the WDV of the holding company (transferor-company). 13. The assessee based its submission relying on Maharana Mills P. Ltd. v. ITO [1959] 36 ITR 350 (SC) and Saharanpur Electric Supply Co. Ltd. v. CIT [1992] 194 ITR 294 (SC). The ACIT v M/s Ajmer Vidyut Vitaran Nigam Ltd., Ajmer assessee has also relied on Ciba of India Ltd. v. CIT [1993] 202 ITR 1 (Bom) as also on CIT v. Hides and Leather Products P. Ltd. [1975] 101 ITR 61 (Guj). It is required to be noted that the Revenue as well as the ass…

KNIGHT RIDERS SPORTS P. LTD,MUMBAI vs. ASST CIT CEN CIR 29, MUMBAI

The appeal of the assessee is partly allowed in terms of our aforesaid observations

ITA 1307/MUM/2013[2009-10]Status: DisposedITAT Mumbai29 Dec 2017AY 2009-10

Bench: Shri G.S.Pannu, Am & Shri Ravish Sood, Jm M/S Knight Riders Sports Acit, Central Circle-29, Private Limited, Deepvan बिधम/ Mumbai. Anand Vihar Society, 20Th Vs. Road, Khar (W), Mumbai-400 052 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aadck3118M (अऩीराथी /Appellant) (प्रत्मथी / Respondent) :

For Appellant: Mr. J.D. Mistry, A.RFor Respondent: Mr. Rajesh Yadav, D.R
Section 143(3)Section 250Section 32(1)(ii)Section 37(1)

…P a g e | 1 ITA No.1307/Mum/2013 AY: 2009-10 Knight Riders Sports Private Limited Vs. ACIT-Central Circle-29 IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI G.S.PANNU, AM AND SHRI RAVISH SOOD, JM M/s Knight Riders Sports ACIT, Central Circle-29, Private Limited, Deepvan बिधम/ Mumbai. Anand Vihar Society, 20th Vs. Road, Khar (W), Mumbai-400 052 स्थामी रेखा सं./ जीआइआय सं./ PAN No. AADCK3118M (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : अऩीराथी की ओय से / Appellant by : Mr. J.D. Mistry, A.R प्रत्मथी की ओय से/Respondent by : Mr. Rajesh Yadav, D.R सुनवाई की तायीख / : 06.10.2017 Date of Hear…

DCIT, COIMBATORE vs. EMERALD JEWEL INDUSTRY INDIA LTD., COIMBATORE

In the result, the assessee’s appeal in I

ITA 1811/CHNY/2015[2011-12]Status: DisposedITAT Chennai07 Oct 2016AY 2011-12

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1811/Mds/2015 "नधा"रण वष" / Assessment Year : 2011-12

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri V. Nandakumar, JCIT

…counsel, this Tribunal has to examine the issue independently for the year under consideration and decide the same on merit. 5. The Ld.counsel for the assessee placed his reliance on the judgment of Apex Court in Maharana Mills (Private) Ltd. v. ITO (1959) 36 ITR 350, judgment of Uttarakhand High Court in CIT v. Enron Expat Services Inc. (2010) 327 ITR 626 and the judgment of Delhi High Court in HCL Technologies v. ACIT (2015) 377 ITR 483. The Ld.counsel has also submitted that the amalgamation was with effect from 31.12.2009. The assessee acquired the brand before the amalgamation. Therefore, according to t…

EMERALD JEWEL INDUSTRY INDIA LIMITED,COIMBATORE vs. ADDL. CIT, COIMBATORE

In the result, the assessee’s appeal in I

ITA 1491/CHNY/2015[2011-12]Status: DisposedITAT Chennai07 Oct 2016AY 2011-12

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1811/Mds/2015 "नधा"रण वष" / Assessment Year : 2011-12

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri V. Nandakumar, JCIT

…counsel, this Tribunal has to examine the issue independently for the year under consideration and decide the same on merit. 5. The Ld.counsel for the assessee placed his reliance on the judgment of Apex Court in Maharana Mills (Private) Ltd. v. ITO (1959) 36 ITR 350, judgment of Uttarakhand High Court in CIT v. Enron Expat Services Inc. (2010) 327 ITR 626 and the judgment of Delhi High Court in HCL Technologies v. ACIT (2015) 377 ITR 483. The Ld.counsel has also submitted that the amalgamation was with effect from 31.12.2009. The assessee acquired the brand before the amalgamation. Therefore, according to t…

Maharana Mills P. Ltd. v. ITO (36 ITR 350) — Cited in 17 Judgments | BharatTax