How many judgments cite Malayala Manorama Co. Ltd. v. CIT?

37 judgments on BharatTax cite Malayala Manorama Co. Ltd. v. CIT (300 ITR 251), spanning 2012 to 2026.

Which sections of the Income Tax Act does Malayala Manorama Co. Ltd. v. CIT come up under?

It is most often cited in judgments turning on Section 143(3), Section 115JB, Section 144, Section 115J, Section 132(4), Section 145(3).

Malayala Manorama Co. Ltd. v. CIT

300 ITR 251Supreme Court of India2008#3262 most cited

What is Malayala Manorama Co. Ltd. v. CIT authority for?

Adjustments to book profits under section 115JB of the Income Tax Act, 1961, are restricted to those explicitly provided in Explanation 1 to section 115JB(2). The Assessing Officer lacks the jurisdiction to make adjustments beyond those specified in the Explanation, even if related to depreciation or other disallowances.

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2012 to 2026.

Also referred to as

Malayala Manorama Co. Ltd. v. CIT · 300 ITR 251 · section 115JB · book profits · Explanation 1 to section 115JB(2) · adjustments to book profits · Assessing Officer jurisdiction · depreciation · Companies Act · IT Rules

Also reported as

169 Taxmann 471

Sections most often in play

Section 143(3)Section 115JB Section 144 Section 115J Section 132(4)Section 145(3)Section 153C Section 234A

Issues it is cited on

section 43(1)section 115j mercantile system of accounting book profits section 115jb section 145(3)section 32 revenue expenditure section 115 section 145 section 37 capital expenditure

Judgments citing Malayala Manorama Co. Ltd. v. CIT

VEEDOL CORPORATION LIMITED,KOLKATA vs. DCIT, CIRCLE 4(1), KOLKATA

The appeal of the assessee is partly allowed

ITA 1945/KOL/2025[2017-2018]Status: DisposedITAT Kolkata13 Jan 2026AY 2017-2018

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Dcit, Circle 4(1) Veedol Corporation Limited Aaykar Bhawan Poorva, Yule House, 8, Dr. Rajendra 8Th Floor, P-7, Chowringhee Prasad Sarani, Kolkata-700001, Vs. Square, Kolkata-700069, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aabct1122C Assessee By : Shri Anup Sinha, Ar Revenue By : Shri Bonnie Debbarma, Dr Date Of Hearing: 29.10.2025 Date Of Pronouncement: 13.01.2026

For Appellant: Shri Anup Sinha, ARFor Respondent: Shri Bonnie Debbarma, DR

Section 10(34)Section 14A

…cannot be made to increase book profit for the purpose of Section 115J of the Act. The case of the assessee also squarely covered by the decision of Hon'ble Apex Court in the case of Malayala Manorama Co. Ltd. vs. Commissioner of Income-tax, Trivandrum [2008] 300 ITR 251 (SC)/[2008] 216 CTR 102 (SC)[10- 04-2008], wherein the Hon'ble Apex Court has held that the explanation to Section 115JB (2) of the Act has not provided any provision for addition of disallowance u/s 14A read with Rule 8D of the rules and the ld. AO is not empowered to add back the disallowance under the provision while calculating the book profi…

INNOVATIVE TEXTILES LIMITED,DELHI vs. DCIT, CIRCLE-10(1), NEW DELHI

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

ITA 1160/DEL/2022[2017-18]Status: DisposedITAT Delhi24 Sept 2025AY 2017-18

Bench: Shri S. Rifaur Rahman & Shri Yogesh Kumar U.S.Innovative Textiles Limited, Vs. Dcit, Circle 10(1), 81, Vighyan Vihar, New Delhi. Delhi – 110 092. (Pan : Aaaci0473J) (Appellant) (Respondent) Assessee By : Shri Gautam Jain, Advocate Revenue By : Shri S.K. Jadhav, Cit Dr Date Of Hearing : 05.08.2025 Date Of Order : 24.09.2025 O R D E R Per S.Rifaur Rahman: 1. This Appeal Is Filed By The Assessee Against Assessment Order Dated 26.03.2022 Passed By The Income Tax Department/National Faceless Assessment Centre, Delhi U/S 143(3) Read With Section 144C(13)/144B Of The Income-Tax Act, 1961 (For Short ‘The Act”) For Assessment Year 2017-18 Pursuant To The Directions Of The Dispute Resolution Panel U/S 144C(5) Of The Act Raising Following Grounds Of Appeal :- “1. That The Orders Of The Learned Lower Tax Authorities Is/Are Contrary To The Law & Facts Of The Case.

For Appellant: Shri Gautam Jain, AdvocateFor Respondent: Shri S.K. Jadhav, CIT DR

Section 115JSection 143(3)Section 144BSection 144C(13)Section 144C(5)Section 234ASection 270A

…upon the following decisions to contend that except for adjustments provided in Explanation I section 115JB(2) of the Act, no other adjustment can be made to book profits under section 115JB of the Act :- i. Apollo Tyres 255 ITR 273 (SC) ii. Malayalam Manorma 300 ITR 251 (SC) iii. DCIT v. Bisleri Sales Ltd. 151 TT] 285 (Mum) (IT AT) 35. The Ld. Sr. DR on the other hand supported the order of the AO on the strength of the decision of the Special Bench of the Tribunal in the case of Rain Commodities v. DCIT: 92010) 40 SOT 265. 36. We have considered the rival submissions and perused the material on record. It is se…

OM LAMCOAT PVT LTD,MORBI vs. THE ACIT, CENTRA CIRCLE-1, RAJKOT, RAJKOT

In the result, both appeals filed by the assessee (in ITA Nos

ITA 287/RJT/2022[2019-20]Status: DisposedITAT Rajkot11 Sept 2025AY 2019-20

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकरअपीलसं/.Ita No. 286 & 287/Rjt/2022 िनधा"रणवष" / Assessment Year: (2016-17 & 2019-20) (Hybrid Hearing) बनाम M/S. Om Lamcoat Pvt. Ltd. The Acit, 8-A, Kandla National Highway, Vs. Central Circle -1, Opp. Dadashri Nagar, At. Morbi – Aayakar Bhavan, Amruta 363642 Estate, M. G. Road, Rajkot – 360001 "थायीलेखासं/.जीआइआरसं/.Pan No. : Aabco8163G (अपीलाथ"/Assessee) .. (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Mehul Ranpura, Ld. Ar राज"व क" ओर से/Revenue By : Shri Abhimanyu Singh Yadav, Ld. Sr. (Dr) सुनवाई क" तार"ख/Date Of Hearing : 16/06/2025 घोषणा क" तार"ख/Date Of Pronouncement : 11/09/2025

For Appellant: Shri Mehul Ranpura, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. (DR)

Section 132Section 139Section 153CSection 250

…he Explanation to the said section. To put it differently, the AO does not have jurisdiction to go behind the net profit shown in the P&L account except to the extent provided in the Explanation to section 115J. In the case of Malyala Manorama Co. Ltd. [2008] 300 ITR 251 (SC), the AO observed that the depreciation debited in the P&L account as per the IT Rules was not admissible and the company should have debited depreciation as per the provisions of the Companies Act. Thus, the issue of scrutiny of P&L account prepared by the Company is still wide open. Therefore, the assessee's claim regarding not altering the…

OM LAMCOAT PVT LTD,MORBI vs. ACIT, CENTRAL CIRCLE-1, RAJKOT, RAJKOT

In the result, both appeals filed by the assessee (in ITA Nos

ITA 286/RJT/2022[2016-17]Status: DisposedITAT Rajkot11 Sept 2025AY 2016-17

For Appellant: Shri Mehul Ranpura, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. (DR)

Section 132Section 139Section 153CSection 250

STRIDES PHARMA SCIENCE LIMITED,MUMBAI vs. DCIT-15(3)(2), MUMBAI

In the result, appeal of the assessee is allowed

ITA 3514/MUM/2024[2012-13]Status: HeardITAT Mumbai13 Feb 2025AY 2012-13

Bench: Shri Saktijit Dey, Hon’Ble & Shri Narendra Kumar Billaiya, Hon’Ble

For Appellant: Revenue byFor Respondent: Shri Bhangepatil Pushkaraj Ramesh, Sr. D/R

Section 115JSection 147Section 234ASection 234BSection 271(1)(c)Section 37Section 37(1)

…| आयकर अपीलीय अिधकरण "ायपीठ, मुंबई | IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, HON’BLE VICE PRESIDENT & SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER I.T.A. No. 3514/Mum/2024 Assessment Year: 2012-13 Strides Pharma Science Limited The Deputy Commissioner of Income Tax, 15(3)(2), Mumbai 201, Devavrata, Sector-17 Vs Vashi, Navi Mumbai Maharashtra - 400703 [PAN: AADCS8104P] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Shri Nishit Gandhi- Advocate & Aadnya Bhandari- Advocate, A/Rs Assessee by : Revenue by : Shri Bhangepatil Pushkaraj Ramesh, Sr. D/R सुनवाई की तारीख/Date…

THE DCIT, CIRCLE-1(1), NOW CIRCLE-1(1)(1),, BARODA vs. GUJARAT STATE ELECTRICITY CORPORATION LTD.,, BARODA

In the result, the appeal filed by the Assessee in ITA No

ITA 3164/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad19 Dec 2024AY 2011-12

Bench: DR. BRR Kumar (Vice President), Shri T.R. Senthil Kumar (Judicial Member)

Section 115JSection 143(3)Section 28Section 37Section 43(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “C” BENCH Before: DR. BRR Kumar, Vice President And Shri T.R. Senthil Kumar, Judicial Member ITA Nos: 3164 & 3124/Ahd/2015 Assessment Year: 2011-12 Deputy Commissioner Vs Gujarat State of Income Tax Electricity Circle-1(1), Baroda Corporation Limited, Sardar Patel Vidyut Bhavan, Race Course Circle, Baroda-390007 Gujarat State Deputy Commissioner Electricity Corporation Vs of Income Tax Limited, Circle-1(1), Baroda Sardar Patel Vidyut Bhavan, Race Course Circle, Baroda-390007 PAN: AAACG6864F (Appellant) (Respondent) Revenue Represented: Shri A.P. Singh, CIT-D…

GUJARAT STATE ELECTRICITY CORPORATION LTD.,BARODA vs. THE DY.CIT, CIRCLE-1(1),, BARODA

In the result, the appeal filed by the Assessee in ITA No

ITA 3124/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad19 Dec 2024AY 2011-12

Bench: DR. BRR Kumar (Vice President), Shri T.R. Senthil Kumar (Judicial Member)

Section 115JSection 143(3)Section 28Section 37Section 43(1)

PRAGATI POWER CORPORATION LTD,NEW DELHI vs. ACIT, CIRCLE 20(1), NEW DELHI

In the result, the appeal filed by the assessee is partly allowed as indicated above

ITA 1617/DEL/2023[2018-19]Status: DisposedITAT Delhi14 Aug 2024AY 2018-19

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

Section 115JSection 145(2)Section 32Section 36Section 36(1)(iii)Section 37Section 43ASection 46ASection 80I

…es not have the jurisdiction to go behind the net profit shown in the Profit & Loss A/c except to the extent provided in the Explanation to section 115J. vii. This case was relied upon by the Supreme Court again in the case of Malyalam Manorama vs CIT (2008) 300 ITR 251 (SC) holding that the Assessing Officer while computing Pragati Power Corporation vs. ACIT income u/s 115J, has only the power of examining whether the books of accounts have been certified by the authorities under the 1956 Act as having been properly maintained in accordance with the 1956 Act. The Assessing Officer, thereafter, has the limited…

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

In the result, the appeal of the assessee is allowed

ITA 2143/DEL/2011[2007-08]Status: DisposedITAT Delhi07 Nov 2023AY 2007-08

Bench: Sh. N. K. Billaiya & Ms. Astha Chandraassessment Year: 2007-08 M/S. Pvr Ltd. Addl. Cit Range-14 New Delhi 61, Basant Lok, Vasant Vihar Vs New Delhi-110057 Pan No.Aaacp4526D (Appellant) (Respondent)

Section 115JSection 14ASection 43(1)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’, NEW DELHI BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND MS. ASTHA CHANDRA, JUDICIAL MEMBER Assessment Year: 2007-08 M/s. PVR Ltd. Addl. CIT Range-14 New Delhi 61, Basant Lok, Vasant Vihar Vs New Delhi-110057 PAN No.AAACP4526D (APPELLANT) (RESPONDENT) Appellant Sh. Gaurav Jain, Advocate Sh. Sudarshan Roy, Advocate Sh. V.K. Garg, Advocate Sh. Parveen Kumar, CA Respondent Sh. P.N. Barnwal, CIT DR Date of Hearing 01.11.2023 Date of Pronouncement 07.11.2023 ORDER PER N. K. BILLAIYA, AM: This appeal by the assessee is preferred against the order of the CIT…

DCIT 5(3)(1), MUMBAI vs. M/S SERCO BPO PVT. LTD., MUMBAI

In the result, the appeal filed by the revenue is dismissed and the CO filed by the assessee is dismissed as infructuous

ITA 2354/MUM/2022[2009-10]Status: DisposedITAT Mumbai27 Feb 2023AY 2009-10

Bench: Shri Om Prakash Kant & Shir Pavan Kumar Gadaledcit – 5(3)(1) Vs. M/S Serco Bpo Pvt Room No. 573, Ltd.(As Successor Of Aayakar Bhavan, Intelnet Global Service Mumbai – 400 020. Pvtltd),Teleperformance Tower, Plot Cst No. 1406-A/28, Mindspace, Goregaon (W), Mumbai -400104. Pan/Gir No. : Aabcv2572L Appellant .. Respondent Co No. 136/Mum/2022 [Arising Out Of 2354/Mum/2022] (A.Y: 2009-10) Teleperformance Global Vs. Dcit – 5(3)(1) Service Pvt Ltd(Earlier Room No. 573, Serco Bpo Pvt Ltd), Aayakar Bhavan, Teleperformance Tower, Mumbai – 400020. Plot Cst No. 1406-A/28, Mindspace, Goregaon(W) Mumbai- 400104. Pan/Gir No. : Aabcv2572L Appellant .. Respondent

Section 115JSection 143(1)Section 143(2)Section 143(3)Section 148Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER & SHIR PAVAN KUMAR GADALE, JUDICIAL MEMBER DCIT – 5(3)(1) Vs. M/s Serco BPO Pvt Room No. 573, Ltd.(as successor of Aayakar Bhavan, Intelnet Global Service Mumbai – 400 020. PvtLtd),Teleperformance Tower, Plot CST No. 1406-A/28, Mindspace, Goregaon (W), Mumbai -400104. PAN/GIR No. : AABCV2572L Appellant .. Respondent CO No. 136/Mum/2022 [Arising out of 2354/Mum/2022] (A.Y: 2009-10) Teleperformance Global Vs. DCIT – 5(3)(1) Service Pvt Ltd(earlier Room No. 573, Serco Bpo Pvt Ltd), Aayakar Bhavan, Teleperformance…

ACIT,CENTRAL-1, INDORE vs. M/S ESSENCE COMMODITIES P LTD, INDORE

In the result all the appeals of revenue for A

ITA 184/IND/2020[2013-14]Status: DisposedITAT Indore10 Feb 2023AY 2013-14

Bench: Shri Chandra Mohan Garg & Shri Bhagirath Mal Biyani

For Appellant: Shri Shreya JainFor Respondent: Shri P.K Mishra, CIT (DR)

…IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCHES “DB”: INDORE BEFORE SHRI CHANDRA MOHAN GARG, JUDICIAL MEMBER AND SHRI BHAGIRATH MAL BIYANI, ACCOUNTANT MEMBER ITA Nos.278 & 184/Ind/2020 Assessment Years: 2011-12 to 2013-14 The ACIT (Central)-1, Essence Commodities Pvt. Indore 452001 Ltd., [vs. 630, Usha Nagar Extension, Opp. Dashahra Maidan, Indore 452009 PAN AAACE3879L (Appellant) (Respondent) Cross Objection No.17/Ind/2020 Cross Objection Nos.04 & 09/Ind/2021 Arising out of ITA Nos.278 & 184/Ind/2020 Assessment Years: 2011-12 to 2013-14 Essence Commodities Pvt. The ACIT (Central)-1, Ltd., Indore 452001 [v…

ACIT (CENTRAL)-1 INDORE, INDORE vs. ESSENCE COMMODITIES (P) LTD., INDORE

In the result all the appeals of revenue for A

ITA 675/IND/2019[2011-12]Status: DisposedITAT Indore10 Feb 2023AY 2011-12

Bench: Shri Chandra Mohan Garg & Shri Bhagirath Mal Biyani

For Appellant: Shri Shreya JainFor Respondent: Shri P.K Mishra, CIT (DR)

THE ACIT, CIRCLE-2(1)(2),, AHMEDABAD vs. KANSARA POPATLAL TRIBHOVANDAS METAL PVT. LTD.,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed while the Cross

ITA 412/AHD/2018[2012-13]Status: DisposedITAT Ahmedabad31 Aug 2022AY 2012-13

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyal

For Appellant: Shri M.J. Shah, AR &For Respondent: Shri Shramdeep Sinha, Sr DR

Section 143(2)

…Orthopedics Pvt. Ltd. Vs. CIT reported in 321 ITR 300, wherein Hon’ble Supreme Court has only referred the matter to the larger bench by disagreeing with the earlier judgment of Hon’ble Supreme Court in case of Malayala Manorama Co. Ltd. Vs. CIT, reported in 300 ITR 251.” 8. While computing book profit under Section 115JB of the Act, the assessee- company had claimed depreciation on windmill at the rate prescribed in the Income-tax Act. According to the Assessing Officer, depreciation as per the Companies Act was required to be claimed by the assessee-company while computing the book profit under Section 115JB…

KANSARA POPATLAL TRIBHUVAN METAL PVT. LTD.,,AHMEDABAD vs. THE PR. CIT-2,, AHMEDABAD

In the result, ground number 9 of the assessee’s appeal is allowed

ITA 1057/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad22 Jul 2022AY 2010-11

For Appellant: Shri Manish J. Shah, A.R. &For Respondent: Shri Purshottam Kumar, Sr. D.R

Section 143(3)Section 263Section 40A(2)(b)

…on as claimed in the accounts, if the accounts are in accordance with Part II and Part III of the Schedule 6 of the Companies Act, 1956. The counsel for the assessee placed the case of Apollo Tyres v CIT 255 ITR 273 (Supreme Court) and Malayala Mandrama v CIT 300 ITR 251 (Supreme Court) in support of his contention. In response, the ld. Dr placed reliance on the observations made by PCIT in the 263 order. 6. We have heard the rival contentions and perused the material on record on this ground. In the case of Malayala Manorama Co. Ltd v. CIT [2008] 169 Taxman 471 (SC), the facts were that in the profit and loss…

DY CIT CC 7 (2), MUMBAI vs. M/S MAN GLOBAL LTD., MUMBAI

In the result, all the appeals of the Revenue are dismissed and cross objections of the assessee in CO Nos

ITA 7440/MUM/2019[2011-12]Status: DisposedITAT Mumbai25 Nov 2021AY 2011-12

Bench: Sri Rajesh Kumar, Am & Sri Amarjit Singh, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./ Ita No. 7440/Mum/2019 अपील (िनधा"रण वष" / Assessment Year 2011-12) आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./ Ita No. 7533/Mum/2019 अपील (िनधा"रण वष" / Assessment Year 2012-13) आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./ Ita No. 7534/Mum/2019 अपील (िनधा"रण वष" / Assessment Year 2013-14) आयकर अपील आयकर अपील संसंसंसं./ Ita No. 7535/Mum/2019 आयकर आयकर अपील अपील (िनधा"रण वष" / Assessment Year 2014-15) आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./ Ita No. 7536/Mum/2019 अपील (िनधा"रण वष" / Assessment Year 2015-16)

…अिधकरण “B” "यायपीठ "यायपीठ "यायपीठ मुंबई "यायपीठ मुंबई म"। म"। म"। म"। आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण मुंबई मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI "ी राजेश कुमार लेखा सद" एवं "ी अमरजीत िसंह, "ाियक सद" सम" । BEFORE SRI RAJESH KUMAR, AM AND SRI AMARJIT SINGH, JM आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./ ITA No. 7440/Mum/2019 अपील (िनधा"रण वष" / Assessment Year 2011-12) आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./ ITA No. 7533/Mum/2019 अपील (िनधा"रण वष" / Assessment Year 2012-13) आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./ ITA No. 7534/Mum/2019 अपी…

RELIANCE INDUSTRIES LTD.,MUMBAI vs. PR. CIT (PCIT)-3, MUMBAI

The appeal stands allowed in terms of our above order

ITA 578/MUM/2021[2011-12]Status: DisposedITAT Mumbai01 Sept 2021AY 2011-12

For Appellant: Shri Nimesh Vora, Ld. ARFor Respondent: Shri Vinay Sinha, Ld. CIT-DR

Section 263

…rofits 10 M/s Reliance Industries Limited Assessment Year: 2011-12 computed u/s 115JB of the Act. Reliance was placed on the decision of Hon'ble Supreme Court in the case of Apollo Tyres Ltd (255 ITR 273) as affirmed in the case of Malayala Manorama Co. Ltd (300 ITR 251), for the submissions that the Assessing Officer could not go beyond the Profit and loss Account except to the extent of adjustment as enumerated in explanation to section 115JB of the Act. 2.4 It is evident from assessment order that though the case was reopened for multiple reasons, however, Ld.AO chose to make additions only against few reason…

RED CHILLIES ENTERTAINMENT PVT LTD.,,MUMBAI vs. DCIT CC-4(2), MUMBAI

In the result, the appeal filed by the assessee is treated as allowed for statistical purposes

ITA 4307/MUM/2019[2016-17]Status: DisposedITAT Mumbai02 Feb 2021AY 2016-17

Bench: Shri Rajesh Kumar & Shri Pavan Kumar Gadale

For Respondent: Shri Sajit V. Nair, Sr. DR

Section 115JSection 139(1)Section 143(3)Section 40A(7)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA Nos. 4307/Mum/2019 (A.Y: 2016-17) Red Chillies Entertainment बनाम/ DCIT CC -4(2) 19th Floor, Air India Bldg. Pvt Ltd., Vs. 612, Backstage, Ram Nariman Point, Mumbai – Krishna Mission Road, 400021. Santacruz, Mumbai – 400054. "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AACCR2518P (अपीलाथ" /Appellant) .. (""यथ" / Respondent) Shri Aditya Ajgankar, AR अपीलाथ" ओर से / Appellant by : ""यथ" क" ओर से/Respondent by : Shri Sajit V. Nair, Sr. DR सुनवाई क" तारीख / Date of Hearing 2…

VEDANTA LTD ,GURGAON vs. ACIT, CIRCLE- 26(2), NEW DELHI

ITA 12/DEL/2020[2014-15]Status: FixedITAT Delhi18 Sept 2020AY 2014-15

Bench: Shri N.K. Billaiya & Shri Kuldip Singh[Assessment Year: 2014-15]

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Anupam Kant Garg, CIT-DR

Section 143(3)Section 153

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘I-2’ BENCH, NEW DELHI [THROUGH VIDEO CONFERENCE] BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER, AND SHRI KULDIP SINGH, JUDICIAL MEMBER [Assessment Year: 2014-15] Vedanta Ltd Vs The A.C.I.T Third Floor, Core - 6 Circle-26(2) Scope Complex, Lodhi Road New Delhi. New Delhi. PAN : AACCS 7101 B [Appellant] [Respondent] Date of Hearing : 24.08.2020 Date of Pronouncement : 21.09.2020 Assessee by : Shri Ajay Vohra, Sr. Adv Shri Sachit Jolly, Adv Shri Rohit Garg, Adv Shri Sidharth Joshi, Adv Revenue by : Shri Anupam Kant Garg, CIT-DR ORDER PER N.K. BILLAIYA, ACCO…

M/S SSP INDIA PVT. LTD.,,GURGAON vs. DCIT, GURGAON

The appeal of the assessee stands allowed

ITA 388/DEL/2016[2011-12]Status: DisposedITAT Delhi01 May 2020AY 2011-12

For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri Mritujnjay Barnwal Sr, DR

Section 115JSection 143(3)Section 144CSection 144C(1)Section 144C(13)Section 144C(3)Section 144C(5)Section 92CSection 92D

…upon the following decisions to contend that except for adjustments provided in Explanation I section 115JB(2) of the Act, no other adjustment can be made to book profits under section 115JB of the Act :- i. Apollo Tyres 255 ITR 273 (SC) ii. Malayalam Manorma 300 ITR 251 (SC) iii.DCIT v. Bisleri Sales Ltd. 151 TTJ 285 (Mum) (ITAT) 35. The Ld. Sr. DR on the other hand supported the order of the AO on the strength of the decision of the Special Bench of the Tribunal in the case of Rain Commodities v. DCIT: 92010) 40 SOT 265. 36. We have considered the rival submissions and perused the material on record. It is sett…

BILAKHIA HOLDINGS PVT. LTD.,VAPI vs. THE ACIT.,VAPI CIRCLE, VAPI

In the result, the appeal of the assessee is allowed for assessment year 2010-11

ITA 795/AHD/2016[2011-12]Status: DisposedITAT Surat04 Feb 2020AY 2011-12

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.507/Ahd/2013: िनधा"रण वष"/Assessment Year: 2008-09 आ.अ.सं/.I.T.A.No.1415Ahd/2015: िनधा"रण वष"/Assessment Year: 2009-10 आ.अ.सं/.I.T.A No.1416/Ahd/2015:िनधा"रण वष"/Assessment Year: 2010-11 आ.अ.सं/.I.T.A No.795/Ahd/2016: िनधा"रण वष"/Assessment Year: 2011-12 M/S. Bialkhia Holdings Pvt. Vs. Addl.Cit Range - Vapi / Ltd., Bilakhia House, Assistant Commissioner Of Muktanand Marg, Chala Income Tax Vapi Circle Vapi, Vapi, Gujarat. Shivam Commercial Complex, [Pan: Aadcs 4420 J] National Highway No.8, Vapi. अपीलाथ" Appellant ""यथ"/Respondent

Section 115JSection 143(3)Section 144C

…he Assessing Officer could not re-compute the profit and loss account by excluding the provisions made for arrears or depreciation. The decision of the Apex Court has been followed in the following other decisions:- a. Malayala Manorama Co. Ltd vs. CIT [2008] 300 ITR 251 (SC) b. CIT vs. HCL Comnet Systems and Services Ltd [2008] 305 ITR 409 (SC), c. CIT-I Vs. Vijayashree Finance and Investment Co. Pvt. Ltd 2 DTR 38 [216 CTR (Madra) 191] d. CIT Vs. Rubamin P. Ltd [2009] 312 ITR 18 (Guj) e. CIT Vs. Kovai Maruthi Paper and Board P. Ltd [2007] 294 57 (Mad) f. CIT Vs. Adbhut Trading Co. P. Ltd [2011] 338 ITR 94 (Bom),…

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