How many judgments cite Maharashtra State Electricity Board v. JCIT?

31 judgments on BharatTax cite Maharashtra State Electricity Board v. JCIT (82 ITD 422), spanning 2015 to 2024.

Maharashtra State Electricity Board v. JCIT

82 ITD 422Income Tax Appellate Tribunal2002#3816 most cited

What is Maharashtra State Electricity Board v. JCIT authority for?

Statutory corporations engaged in power generation, due to their distinct statutory obligations, may not be subject to Minimum Alternate Tax (MAT) under Section 115JB.

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2024.

Also referred to as

Maharashtra State Electricity Board v JCIT · section 115JB · MAT · book profits · statutory corporations · power generation · companies act 1956 · ITAT Mumbai

Issues it is cited on

section 115ja book profits reasoned order section 115j section 115jb section 115 section 11 section 143 prescribed company section 14 section 143(3)

Judgments citing Maharashtra State Electricity Board v. JCIT

ACIT 2(3), Mumbai vs. Dena Bank, Mumbai

In the result appeal ITA No

ITA 6644/MUM/2013[2006-07]Status: DisposedITAT Mumbai29 Jul 2016AY 2006-07

Bench: Sh. Br Baskaran & Sh Pawan Singh

Section 115Section 115JSection 143(3)Section 154Section 263

…der companies act, but is only deemed to be a company as per the provisions of section 11 of the banking companies (acquisition and transfer of undertakings) act, 1970. Therefore, as held by the jurisdictional ITAT in case of Maharashtra state arrested board (82 ITD 422) the provisions of section 115 JB cannot be made applicable to the appellant. Reliance is also placed on the decision of Kerala High Court in case of trailer stated laxity board (329 ITR 91)” 21. We find that in case of Kurang Thai Bank PCL in ITA 339, 0/M/90 for AY 2004-05, it has been held as follows: “ in view of the above discussion, and fo…

Dena Bank, Mumbai vs. Asst (OSD) 2(3), Mumbai

In the result appeal ITA No

ITA 3696/MUM/2013[2009-10]Status: DisposedITAT Mumbai29 Jul 2016AY 2009-10

Bench: Sh. Br Baskaran & Sh Pawan Singh

Section 115Section 115JSection 143(3)Section 154Section 263

Allahabad Bank, Kolkata vs. Add.CIT, Range-6, Kolkata

In the result the appeal of the revenue is dismissed

ITA 1199/KOL/2012[2008-2009]Status: DisposedITAT Kolkata01 Jun 2016AY 2008-2009

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] Assessment Year : 2008-09

For Appellant: Shri Barun Kumar Ghosh & Shri Piyush Dey, FCAFor Respondent: Shri Rajat Subhra Biswas, CIT(DR)

Section 28Section 36Section 36(1)Section 36(1)(viia)

…n on Gr.No.6 & 7.” 35. The decision rendered in the case of Krung Thai Bank referred to above was rendered by Order dated 30.09.2010 in ITA No.3390/2009 passed by ITAT ‘G’ Bench, Mumbai. The Hon'ble ITAT, Mumbai in Maharashtra State Electricity Board vs JCIT 82 ITD 422(mum) took the view that provisions of Sec.115JB of the Act are not applicable to electricity generation companies governed by the provisions of Electricity Act. The Hon'ble Kerala High Court in Kerala State Electricity Board vs Dy. CIT (2010) 329 ITR 91 (ker), has also taken the same view. In view of the above ground No.6 raised by the assessee is…

Dipsc Limited, Kolkata vs. D.C.I T Cir - VI, Kolkata

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

ITA 890/KOL/2013[2007-08]Status: DisposedITAT Kolkata04 May 2016AY 2007-08

Bench: Shri Mahavir Singh, Jm & Shri M.Balaganesh, Am] Assessment Year : 2007-08

For Appellant: Shri Soumen Adak, FCA & Shri Amit Agarwal, ACAFor Respondent: Sallong Yaden, Addl. CIT, Sr.DR

Section 115JSection 143(3)Section 14ASection 211Section 616

…irrelevant. Therefore, the fiction fixed under section 115JB cannot be pressed into service against the Electricity Board while making the assessment of the tax payable under the Income-tax Act.” Maharashtra State Electricity Board vs JCIT reported in (2002) 82 ITD 422 (Mumbai Tribunal), wherein it was held that : “15. We find that sub-section (2) of section 115JA requires the company to prepare its Profit & Loss Account in accordance with the provisions of Parts II & III of Schedule VI to the Companies Act, 1956. The assessee was required to prepare its account in conformity with the provision of section 69 o…

Nhpc Ltd., Faridabad vs. ACIT, Faridabad

In the result, appeals of the assessee in ITA Nos

ITA 433/DEL/2013[2004-05]Status: DisposedITAT Delhi08 Feb 2016AY 2004-05

Bench: Sh. H.S. Sidhu, Judicialmember & Sh. Prashant Maharishi

Section 115JSection 154Section 234B

…ability as no liability would be fastened on the appellant if a debt is not recovered. So, the provision of bad and doubtful debts is not to be adjusted 115JB of the I.T.Act, in view of the following judgments: (i) Mahatrashtra State Electricity Board Vs JCIT 82 ITD 422 (Mum.) (ii) ACIT Vs J.G.Vaccum Flask 83 ITD 242 (Pune) (iii) CIT Vs H.J. Foregings (P) Ltd. 251 ITR 15 (Ban.) (iv) Steel Authority of India Ltd. Vs DCIT 76 ITD 69 (DelhI)(TM). v) JCIT Vs Usha Martin Inds. Ltd. (2006) 105 TTJ (Cal.)(SB) 543. 5 Keeping in view the above discussions, the disallowance of provision of bad and doubtful debts made by the…

Damodar Valley Corporation, Kolkata vs. Addl. CIT, Range - 9, Kolkata

Accordingly, the ground nos. 8 & 9 in ITA No. 451/Kol/2013 raised by the assessee are allowed

ITA 1622/KOL/2011[2008-09]Status: DisposedITAT Kolkata13 Jan 2016AY 2008-09

Bench: : Shri N.V. Vasudevan & Shri M. Balaganeshita No. 1622/Kol/2011 A.Y 2008-09

For Appellant: Shri D.S Damle, FCA, ld.ARFor Respondent: Shri Rajat Subhra Biswas, CIT, ld

Section 115JSection 143(3)

…such it does not come within the mischief of this section……” Hence we find lot of force in the arguments of the Learned AR that the text has to be understood in the context in which provision has been enacted which is also endorsed by the Mumbai Tribunal in 82 ITD 422. ITA Nos. 1622/Kol/2011 & M/s. Damodar Valley Corporation 18 451/Kol/2013-A-AM C. ICICI Lombard General Insurance Co Ltd vs ACIT reported in 2012 – TIOL-690-ITAT-Mum in ITA No. 2398/Mum/2009 dated 10.10.2012 for Asst Year 2003-04, wherein it was held that : The proviso to section 211(2) of the Companies Act creates an exemption of applicability…

Asst CIT Ltu, Mumbai vs. Union Bank of India, Mumbai

In the result, the appeal filed by the assessee is allowed for statistical purposes and the appeal of the revenue is treated as partly allowed for statistical purposes

ITA 2142/MUM/2014[2010-11]Status: DisposedITAT Mumbai08 Jan 2016AY 2010-11

Bench: Shri N.K.Billaiya & Shri Pawan Singhassessment Year: 2010-11 Dcit Ltu, Centre-1, M/S Union Bank Of India, 29Th Floor, World Trade Centre, 239, Vidhan Bhavan Marg, Vs. Cuffe Parade, Nariman Point, Mumbai-400021. Mumbai-400005. Pan: Aaacu0564G (Appellant) (Respondent) Assessment Year: 2010-11 M/S Union Bank Of India, Dcit Ltu, Centre-1, 29Th Floor, World Trade Centre, 239, Vidhan Bhavan Marg, Vs. Nariman Point, Mumbai-400021. Cuffe Parade, Mumbai-400005. Pan: Aaacu0564G (Appellant) (Respondent)

For Appellant: Shri C. NareshFor Respondent: Shri S.S. Kemwal (DR)

Section 115JSection 143(1)Section 14ASection 36(1)Section 36(1)(viia)Section 36(1)(viii)

…find that in the case of Kurung Thai Bank PCL) in ITA No. 3390/M/90 for A.Y. 2004-05 it has been held as follows: “In view of the above discussions, and following the view taken by a coordinate Bench in the case of Maharashtra State Electricity Board Vs JCIT (82 ITD 422), which holds that provisions of MAT cannot be applied to electricity companies for mutually similar reason we uphold the plea of the assessee. The provisions of Sec. 115JB do not apply to the assessee, and, as such, the AO was in error in concluding that income had escaped assessment in the hands of the assessee. The very initiation of reassessme…

Union Bank of India, Mumbai vs. Addl CIT Ltu, Mumbai

In the result, the appeal filed by the assessee is allowed for statistical purposes and the appeal of the revenue is treated as partly allowed for statistical purposes

ITA 1627/MUM/2014[2010-11]Status: DisposedITAT Mumbai08 Jan 2016AY 2010-11

For Appellant: Shri C. NareshFor Respondent: Shri S.S. Kemwal (DR)

Section 115JSection 143(1)Section 14ASection 36(1)Section 36(1)(viia)Section 36(1)(viii)

United Bank of India, Kolkata vs. D.C.I.T Cir- 6, Kolkata

In the result, the appeal of the revenue in ITA No

ITA 1916/KOL/2012[2009-10]Status: DisposedITAT Kolkata30 Dec 2015AY 2009-10

Bench: : Shri Mahavir Singh & Shri M. Balaganesh

For Appellant: Shri Soumitra Choudhury, Advocate, ld.ARFor Respondent: None appeared

Section 115JSection 143(3)Section 2(5)Section 211Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL, “C” BENCH, KOLKATA Before : Shri Mahavir Singh, Judicial Member, and Shri M. Balaganesh, Accountant Member ITA No. 1916/Kol/2012 A.Y 2009-10 United Bank of India Vs. DCIT, Circle-6, Kolkata PAN: AAACU5624P (Appellant) (Respondent) ITA No. 113/Kol/2013 A.Y 2009-10 DCIT, Circle-6, Kolkata Vs. United Bank of India (Respondent) (Appellant) For the Appellant/Assessee: Shri Soumitra Choudhury, Advocate, ld.AR For the Respondent/Department: None appeared Date of Hearing: 14-12 -2015 Date of Pronouncement: 30 -12-2015 ORDER SHRI M.BALAGANESH, AM : These appeals o…

Uco Bank, Kolkata vs. DCIT, Circle - 6, Kolkata

In the result, the appeal of the asssesse in ITA No

ITA 1768/KOL/2009[2002-2003]Status: DisposedITAT Kolkata27 Nov 2015AY 2002-2003

Bench: : Shri M. Balaganesh

For Appellant: Shri D.S Damle, FCA, ld.ARFor Respondent: Shri S.Srivastava, CIT, ld.DR

Section 115JSection 254Section 29Section 36(1)(viia)

…d by such banking companies in conformity with the provisions of Banking Regulation Act, 1949. This legal position has been very ably illustrated by the Mumbai Bench of the Tribunal in the case of Maharashtra State Electricity Board vs JCIT reported in (2002) 82 ITD 422 (Mum Trib) which is relied upon hereinbelow. 7.4. The Notes to Clauses to Finance Act, 2012 on the subject of Minimum Alternate Tax (MAT) is reproduced below:- i. Under the existing provisions of section 115JB of the Act, a company is liable to pay MAT of eighteen and one half per cent of its book profit in case of tax on its total income compute…

Bses Rajdhani Power Ltd., New Delhi vs. ACIT, New Delhi

The appeal is partly allowed

ITA 3688/DEL/2011[2005-06]Status: DisposedITAT Delhi05 Oct 2015AY 2005-06

Bench: Shri I.C. Sudhir & Shri Inturi Rama Rao Assessment Year : 2005-06 Bses Rajdhani Power Ltd., Vs. Assistant Cit, Bses Bhawan, Nehru Place, Circle-3(1), New Delhi. New Delhi. (Pan: Aagcs3187H) (Appellant) (Respondent) Assessment Year: 2005-06 Deputy Cit, Vs. Bses Rajdhani Power Ltd., Circle 3(1), Bses Bhavan, Nehru Place, New Delhi. New Delhi. (Pan: Aagcs3187H) (Appellant) (Respondent) Assessment Year : 2006-07 Bses Rajdhani Power Ltd., Vs. Assistant Cit, Bses Bhawan, Nehru Place, Circle-3(1), New Delhi. New Delhi. (Pan: Aagcs3187H) (Appellant) (Respondent) Assessment Year: 2006-07 Deputy Cit, Vs. Bses Rajdhani Power Ltd., Circle 3(1), Bses Bhavan, Nehru Place, New Delhi. New Delhi. (Pan: Aagcs3187H) (Appellant) (Respondent)

Section 154

…, 1949, Electricity Act, 2003, Insurance Regulatory Act, 1999 etc. Reference, in this regard, made to the following decisions:- - Kerala State Electricity Board v. DCIT: ITA Nos. 1703/1710 and 1716 of 2009 (Ker) - Maharashtra State Electricity Board v. JCIT: 82 ITD 422 (Mum.) - Reliance Energy Ltd. vs. ACIT: ITA No. 218/Mum/2005 (Mum.) - Krung Thai Bank PCL v. JDIT: 133 TTJ 435 (Mum.) 22.18 Accordingly, the provisions of section 115JB of the Act were, during the relevant year, not applicable to the appellant, contended the Learned AR. 22.19 The Learned AR submitted that the aforesaid contention of the appella…