Maral Overseas Ltd. v. Addl.CIT

16 ITR (Trib) 565Income Tax Appellate Tribunal2012#6575 most cited
18

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

Also reported as

20 Taxmann.com 346

Sections most often in play

Section 10BSection 115JBSection 143(3)Section 14ASection 234BSection 234CSection 234DSection 43B

Issues it is cited on

section 75section 10baperquisite valuesection 108interest on outstanding receivablesconvertible foreign exchangeinitial assessment yeartransfer pricing ordersection 80hsection 80hhcsection 10bsection 80hh

Judgments citing Maral Overseas Ltd. v. Addl.CIT

JINDAL SAW LTD.,NEW DELHI vs. ACIT, CIRCLE-13(2), NEW DELHI

In the result, assessee’s appeal in ITA No

ITA 504/DEL/2022[2014-15]Status: DisposedITAT Delhi04 Jun 2025AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal[Assessment Year : 2011-12] Jindal Saw Ltd. Vs Dcit, 28, Najafgarh Road, Circle-13(2) New Delhi-110015. (Earlier Addl.Cit Range-4), Pan-Aabcs7280C C.R.Building, I.P.Estate, New Delhi-110002. Appellant Respondent [Assessment Year : 2011-12] Dcit, Vs Jindal Saw Ltd. Circle-13(2), (Formerly Known As M/S. Saw Pipes Room No.316A, Ltd.), 28, Najafgarh Road, C.R.Building, New Delhi-110015. New Delhi Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2014-15] Jindal Saw Ltd., Vs Acit, 28, Najafgarh Road, Shivaji Marg, Circle-13(2), New Delhi-110015. New Delhi. Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2015-16] Jindal Saw Ltd. Vs Acit, 28, Najafgarh Road, Circle-13(2) P.O.Ramesh Nagar, C.R.Building, I.P.Estate, New Delhi-110015. New Delhi-110002. Pan-Aabcs7280C Appellant Respondent

Section 143(3)Section 234BSection 43B

…ITA Nos.826 & 1000/Del/2016, 4693 & 4760/Del/2019 & 504/Del/2022 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “B” BENCH: NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER [Assessment Year : 2011-12] Jindal Saw Ltd. vs DCIT, 28, Najafgarh Road, Circle-13(2) New Delhi-110015. (Earlier Addl.CIT Range-4), PAN-AABCS7280C C.R.Building, I.P.Estate, New Delhi-110002. APPELLANT RESPONDENT [Assessment Year : 2011-12] DCIT, vs Jindal Saw Ltd. Circle-13(2), (Formerly known as M/s. Saw Pipes Room No.316A, Ltd.), 28, Najafgarh Road, C.R.Building, New Delhi-110015. New Delhi PAN-…

DCIT CIRCLE-13(2), NEW DELHI vs. JINDAL SAW LTD., NEW DELHI

In the result, assessee’s appeal in ITA No

ITA 4760/DEL/2019[2015-16]Status: DisposedITAT Delhi04 Jun 2025AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal[Assessment Year : 2011-12] Jindal Saw Ltd. Vs Dcit, 28, Najafgarh Road, Circle-13(2) New Delhi-110015. (Earlier Addl.Cit Range-4), Pan-Aabcs7280C C.R.Building, I.P.Estate, New Delhi-110002. Appellant Respondent [Assessment Year : 2011-12] Dcit, Vs Jindal Saw Ltd. Circle-13(2), (Formerly Known As M/S. Saw Pipes Room No.316A, Ltd.), 28, Najafgarh Road, C.R.Building, New Delhi-110015. New Delhi Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2014-15] Jindal Saw Ltd., Vs Acit, 28, Najafgarh Road, Shivaji Marg, Circle-13(2), New Delhi-110015. New Delhi. Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2015-16] Jindal Saw Ltd. Vs Acit, 28, Najafgarh Road, Circle-13(2) P.O.Ramesh Nagar, C.R.Building, I.P.Estate, New Delhi-110015. New Delhi-110002. Pan-Aabcs7280C Appellant Respondent

Section 143(3)Section 234BSection 43B

…ITA Nos.826 & 1000/Del/2016, 4693 & 4760/Del/2019 & 504/Del/2022 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “B” BENCH: NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER [Assessment Year : 2011-12] Jindal Saw Ltd. vs DCIT, 28, Najafgarh Road, Circle-13(2) New Delhi-110015. (Earlier Addl.CIT Range-4), PAN-AABCS7280C C.R.Building, I.P.Estate, New Delhi-110002. APPELLANT RESPONDENT [Assessment Year : 2011-12] DCIT, vs Jindal Saw Ltd. Circle-13(2), (Formerly known as M/s. Saw Pipes Room No.316A, Ltd.), 28, Najafgarh Road, C.R.Building, New Delhi-110015. New Delhi PAN-…

JINDAL SAW LTD.,NEW DELHI vs. ACIT CIRCLE-13(2), NEW DELHI

In the result, assessee’s appeal in ITA No

ITA 4693/DEL/2019[2015-16]Status: DisposedITAT Delhi04 Jun 2025AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal[Assessment Year : 2011-12] Jindal Saw Ltd. Vs Dcit, 28, Najafgarh Road, Circle-13(2) New Delhi-110015. (Earlier Addl.Cit Range-4), Pan-Aabcs7280C C.R.Building, I.P.Estate, New Delhi-110002. Appellant Respondent [Assessment Year : 2011-12] Dcit, Vs Jindal Saw Ltd. Circle-13(2), (Formerly Known As M/S. Saw Pipes Room No.316A, Ltd.), 28, Najafgarh Road, C.R.Building, New Delhi-110015. New Delhi Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2014-15] Jindal Saw Ltd., Vs Acit, 28, Najafgarh Road, Shivaji Marg, Circle-13(2), New Delhi-110015. New Delhi. Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2015-16] Jindal Saw Ltd. Vs Acit, 28, Najafgarh Road, Circle-13(2) P.O.Ramesh Nagar, C.R.Building, I.P.Estate, New Delhi-110015. New Delhi-110002. Pan-Aabcs7280C Appellant Respondent

Section 143(3)Section 234BSection 43B

…ITA Nos.826 & 1000/Del/2016, 4693 & 4760/Del/2019 & 504/Del/2022 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “B” BENCH: NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER [Assessment Year : 2011-12] Jindal Saw Ltd. vs DCIT, 28, Najafgarh Road, Circle-13(2) New Delhi-110015. (Earlier Addl.CIT Range-4), PAN-AABCS7280C C.R.Building, I.P.Estate, New Delhi-110002. APPELLANT RESPONDENT [Assessment Year : 2011-12] DCIT, vs Jindal Saw Ltd. Circle-13(2), (Formerly known as M/s. Saw Pipes Room No.316A, Ltd.), 28, Najafgarh Road, C.R.Building, New Delhi-110015. New Delhi PAN-…

BRODAWAYS OVERSEAS LIMITED,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, JALANDHAR

ITA 123/ASR/2018[2013-14]Status: DisposedITAT Amritsar30 May 2023AY 2013-14

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 10BSection 14A

…eceipt for the purpose of computation of exemption u/s 10B. Accordingly, the claim of exemption on DEPB receipt is disallowed.” 6. Your Honour, ITAT, Special Bench Indore in the case of Maral Overseas Ltd. vs. Addl.CIT (2012) 146 TTJ (Ind) (SB) 129 : (2012) 016 ITR (Trib) 565 (Indore) has held that the assessee is eligible for claim of deduction on export incentive received by it in terms of provisions of section 10B(1) read with section 10B(4) of the Income Tax Act, 1961. Relevant para 79 and 80 of the judgment reads thus: “79. Thus, sub-s. (4) of s. 10B stipulated that deduction under that section shall be co…

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

ITA 49/ASR/2016[2011-12]Status: DisposedITAT Amritsar30 May 2023AY 2011-12

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 10BSection 14A

…eceipt for the purpose of computation of exemption u/s 10B. Accordingly, the claim of exemption on DEPB receipt is disallowed.” 6. Your Honour, ITAT, Special Bench Indore in the case of Maral Overseas Ltd. vs. Addl.CIT (2012) 146 TTJ (Ind) (SB) 129 : (2012) 016 ITR (Trib) 565 (Indore) has held that the assessee is eligible for claim of deduction on export incentive received by it in terms of provisions of section 10B(1) read with section 10B(4) of the Income Tax Act, 1961. Relevant para 79 and 80 of the judgment reads thus: “79. Thus, sub-s. (4) of s. 10B stipulated that deduction under that section shall be co…

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

ITA 48/ASR/2016[2010-11]Status: DisposedITAT Amritsar30 May 2023AY 2010-11

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 10BSection 14A

…eceipt for the purpose of computation of exemption u/s 10B. Accordingly, the claim of exemption on DEPB receipt is disallowed.” 6. Your Honour, ITAT, Special Bench Indore in the case of Maral Overseas Ltd. vs. Addl.CIT (2012) 146 TTJ (Ind) (SB) 129 : (2012) 016 ITR (Trib) 565 (Indore) has held that the assessee is eligible for claim of deduction on export incentive received by it in terms of provisions of section 10B(1) read with section 10B(4) of the Income Tax Act, 1961. Relevant para 79 and 80 of the judgment reads thus: “79. Thus, sub-s. (4) of s. 10B stipulated that deduction under that section shall be co…

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

ITA 47/ASR/2016[2009-10]Status: DisposedITAT Amritsar30 May 2023AY 2009-10

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 10BSection 14A

…eceipt for the purpose of computation of exemption u/s 10B. Accordingly, the claim of exemption on DEPB receipt is disallowed.” 6. Your Honour, ITAT, Special Bench Indore in the case of Maral Overseas Ltd. vs. Addl.CIT (2012) 146 TTJ (Ind) (SB) 129 : (2012) 016 ITR (Trib) 565 (Indore) has held that the assessee is eligible for claim of deduction on export incentive received by it in terms of provisions of section 10B(1) read with section 10B(4) of the Income Tax Act, 1961. Relevant para 79 and 80 of the judgment reads thus: “79. Thus, sub-s. (4) of s. 10B stipulated that deduction under that section shall be co…

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

ITA 46/ASR/2016[2007-08]Status: DisposedITAT Amritsar30 May 2023AY 2007-08

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 10BSection 14A

…eceipt for the purpose of computation of exemption u/s 10B. Accordingly, the claim of exemption on DEPB receipt is disallowed.” 6. Your Honour, ITAT, Special Bench Indore in the case of Maral Overseas Ltd. vs. Addl.CIT (2012) 146 TTJ (Ind) (SB) 129 : (2012) 016 ITR (Trib) 565 (Indore) has held that the assessee is eligible for claim of deduction on export incentive received by it in terms of provisions of section 10B(1) read with section 10B(4) of the Income Tax Act, 1961. Relevant para 79 and 80 of the judgment reads thus: “79. Thus, sub-s. (4) of s. 10B stipulated that deduction under that section shall be co…

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAYS OVERSEAS LTD, JALANDHAR

ITA 345/ASR/2016[2012-13]Status: DisposedITAT Amritsar30 May 2023AY 2012-13

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 10BSection 14A

…eceipt for the purpose of computation of exemption u/s 10B. Accordingly, the claim of exemption on DEPB receipt is disallowed.” 6. Your Honour, ITAT, Special Bench Indore in the case of Maral Overseas Ltd. vs. Addl.CIT (2012) 146 TTJ (Ind) (SB) 129 : (2012) 016 ITR (Trib) 565 (Indore) has held that the assessee is eligible for claim of deduction on export incentive received by it in terms of provisions of section 10B(1) read with section 10B(4) of the Income Tax Act, 1961. Relevant para 79 and 80 of the judgment reads thus: “79. Thus, sub-s. (4) of s. 10B stipulated that deduction under that section shall be co…

THE ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAYS OVERSEAS LTD, JALANDHAR

ITA 477/ASR/2015[2008-09]Status: DisposedITAT Amritsar30 May 2023AY 2008-09

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 10BSection 14A

…eceipt for the purpose of computation of exemption u/s 10B. Accordingly, the claim of exemption on DEPB receipt is disallowed.” 6. Your Honour, ITAT, Special Bench Indore in the case of Maral Overseas Ltd. vs. Addl.CIT (2012) 146 TTJ (Ind) (SB) 129 : (2012) 016 ITR (Trib) 565 (Indore) has held that the assessee is eligible for claim of deduction on export incentive received by it in terms of provisions of section 10B(1) read with section 10B(4) of the Income Tax Act, 1961. Relevant para 79 and 80 of the judgment reads thus: “79. Thus, sub-s. (4) of s. 10B stipulated that deduction under that section shall be co…

UNITEDHEALTH GROUP INFORMATION SERVICES PVT. LTD.,NEW DELHI vs. ADDL. CIT, SPECIAL RANGE- 9, NEW DELHI

ITA 6665/DEL/2017[2013-14]Status: DisposedITAT Delhi29 Sept 2020AY 2013-14

Bench: Shri N.K.Billaiya & Shri Kuldip Singh

For Appellant: Shri Nageshwar Rao, AdvFor Respondent: Shri Anupham Kant Garg, CIT-DR
Section 143(3)Section 144CSection 154Section 254Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘I-2’ : NEW DELHI) (THROUGH VIDEO CONFERENCE) BEFORE SHRI N.K.BILLAIYA, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER ITA No.6665Del./2017 (Assessment Year : 2013-14) Optum Global Solutions (India) Pvt. Ltd. Vs. ACIT (As successor of United Health Group Special Range-9 InformationServices Pvt. Ltd.) New Delhi 5th, 6th and 7th Office Level, Hitech City, Madhapur, Hyderabad- 500 081, Telangana (PAN : AAACQ2188G) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri Nageshwar Rao, Adv. REVENUE BY : Shri Anupham Kant Garg, CIT-DR Date of Hearing : 27.08.202…

UNITED HEALTH GROUP INFORMATION SERVICES PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is partly allowed for statistical purposes

ITA 473/DEL/2016[2011-12]Status: DisposedITAT Delhi25 Aug 2020AY 2011-12

Bench: Shri R.K. Panda & Shri Amit Shuklaassessment Year: 2011-12 Optum Global Solutions (India) Vs Dcit, Private Limited Circle-27(1), (Formerly Known As United Health Cr Building, Group Information Services Pvt. New Delhi. Ltd.), 11Th Floor, Tower A, Dlf Towers Jasola, Jasola District Centre, New Delhi. Pan: Aadca6769Q Assessment Year: 2011-12 Dcit, Vs Optum Global Solutions (India) Circle-27(1), Private Limited Cr Building, (Formerly Known As United Health New Delhi Group Information Services Pvt. Ltd.), 11Th Floor, Tower A, Dlf Towers Jasola, Jasola District Centre, New Delhi. Pan: Aadca6769Q (Appellant) (Respondent) Assessee By : Shri Nageshwar Rao & Shri S. Chakraborty, Advocates Revenue By : Shri Anupam Kant Garg, Cit, Dr Date Of Hearing : 16.06.2020 Date Of Pronouncement : 25.08.2020

For Appellant: Shri Nageshwar Rao &For Respondent: Shri Anupam Kant Garg, CIT, DR
Section 10ASection 115JSection 143(3)Section 144C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : I-2 : NEW DELHI (Through Virtual Court Hearing) BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA, JUDICIAL MEMBER Assessment Year: 2011-12 Optum Global Solutions (India) Vs DCIT, Private Limited Circle-27(1), (Formerly known as United Health CR Building, Group Information Services Pvt. New Delhi. Ltd.), 11th Floor, Tower A, DLF Towers Jasola, Jasola District Centre, New Delhi. PAN: AADCA6769Q Assessment Year: 2011-12 DCIT, Vs Optum Global Solutions (India) Circle-27(1), Private Limited CR Building, (Formerly known as United Health New Delhi Group In…

DCIT, NEW DELHI vs. M/S UNITED HEALTH GROUP INFORMATION SERVICES PVT. LTD, NEW DELHI

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is partly allowed for statistical purposes

ITA 193/DEL/2016[2011-12]Status: DisposedITAT Delhi25 Aug 2020AY 2011-12

Bench: Shri R.K. Panda & Shri Amit Shuklaassessment Year: 2011-12 Optum Global Solutions (India) Vs Dcit, Private Limited Circle-27(1), (Formerly Known As United Health Cr Building, Group Information Services Pvt. New Delhi. Ltd.), 11Th Floor, Tower A, Dlf Towers Jasola, Jasola District Centre, New Delhi. Pan: Aadca6769Q Assessment Year: 2011-12 Dcit, Vs Optum Global Solutions (India) Circle-27(1), Private Limited Cr Building, (Formerly Known As United Health New Delhi Group Information Services Pvt. Ltd.), 11Th Floor, Tower A, Dlf Towers Jasola, Jasola District Centre, New Delhi. Pan: Aadca6769Q (Appellant) (Respondent) Assessee By : Shri Nageshwar Rao & Shri S. Chakraborty, Advocates Revenue By : Shri Anupam Kant Garg, Cit, Dr Date Of Hearing : 16.06.2020 Date Of Pronouncement : 25.08.2020

For Appellant: Shri Nageshwar Rao &For Respondent: Shri Anupam Kant Garg, CIT, DR
Section 10ASection 115JSection 143(3)Section 144C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : I-2 : NEW DELHI (Through Virtual Court Hearing) BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA, JUDICIAL MEMBER Assessment Year: 2011-12 Optum Global Solutions (India) Vs DCIT, Private Limited Circle-27(1), (Formerly known as United Health CR Building, Group Information Services Pvt. New Delhi. Ltd.), 11th Floor, Tower A, DLF Towers Jasola, Jasola District Centre, New Delhi. PAN: AADCA6769Q Assessment Year: 2011-12 DCIT, Vs Optum Global Solutions (India) Circle-27(1), Private Limited CR Building, (Formerly known as United Health New Delhi Group In…

NIKHIL J. SHAH HUF,MUMBAI vs. ACIT 13(3), MUMBAI

ITA 1392/MUM/2017[2011-12]Status: DisposedITAT Mumbai09 Mar 2018AY 2011-12

Bench: Shri G.S. Pannu & Shri Sandeep Gosain: A.Y : 2011-12

For Respondent: Shri T.A. Khan
Section 10B

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “B”, MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN, JUDICIAL MEMBER : A.Y : 2011-12 Nikhil J Shah HUF Vs. ACIT-13(3), Mumbai 20, Nagin Mahal, 82, V.N. Road, (Respondent) Churchgate, Mumbai 400 020. PAN : AAAHN3226M (Appellant) SA NO. 34/MUM/2018 : A.Y : 2011-12 (in ITA NO. 1392/MUM/2017) Nikhil J Shah HUF Vs. ACIT-17(2), Mumbai 20, Nagin Mahal, 82, V.N. Road, (Respondent) Churchgate, Mumbai 400 020. PAN : AAAHN3226M (Applicant) Applicant by : Shri Nishant Thakkar & Ms. Jasmin Amalsadvala Respondent by : Shri T.A. Khan Date of Hear…

NIKHIL J SHAH HUF,MUMBAI vs. DCIT 13(3), MUMBAI

In the result, appeal of the assessee is partly allowed, as pronounced in the open court in the presence of both the parties at the conclusion of hearing on 8th March, 2018

ITA 4404/MUM/2013[2009-10]Status: DisposedITAT Mumbai08 Mar 2018AY 2009-10

Bench: Shri G.S. Pannu & Shri Sandeep Gosain: (A.Y : 2009-10)

For Appellant: Shri Nishant J. ThakkarFor Respondent: Shri T.A. Khan
Section 10ASection 10BSection 143(3)Section 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “B”, MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN, JUDICIAL MEMBER : (A.Y : 2009-10) Nikhil J. Shah HUF Vs. DCIT-13(3), 20, Nagin Mahal, Mumbai (Respondent) 82, Veer Nariman Road, Churchgate, Mumbai 400 020 PAN : AAAHN3226M (Appellant) Appellant by : Shri Nishant J. Thakkar Respondent by : Shri T.A. Khan Date of Hearing : 08/03/2018 Date of Pronouncement : 08/03/2018 O R D E R PER G.S. PANNU, AM : The captioned appeal by the assessee is directed against the order of the CIT(A)-24, Mumbai dated 18.03.2013, pertaining to the Assess…

OLIVER VALVES INDIA PVT. LTD.,CHENNAI vs. DCIT, CHENNAI

In the result, both the appeals filed by the assessee are allowed

ITA 1056/CHNY/2017[2009-10]Status: DisposedITAT Chennai20 Sept 2017AY 2009-10

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.1055 & 1056/Mds/2017 "नधा"रण वष" / Assessment Years : 2009-10 & 2010-11

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri Asish Tripathy, JCIT
Section 10BSection 10B(4)Section 143(3)Section 147

…e Act, the Ld.counsel submitted that this section clearly says that the deduction shall be from the profits and gains of 100% Export Oriented Unit. Placing reliance on the order of the Special Bench of this Tribunal in Maral Overseas Ltd. v. Addl. CIT (2012) 16 ITR (Trib) 565, the Ld.counsel submitted that in view of Section 10B(4) of the Act, the entire profit of the undertaking is eligible for deduction under Section 10B of the Act. According to the Ld. counsel, the interest on the fixed deposit receipt has to be treated as profit of the undertaking, therefore, the assessee is 3 I.T.A. Nos.1055 & 1056/Mds/17…

OLIVER VALVES INDIA PVT. LTD.,CHENNAI vs. DCIT, CHENNAI

In the result, both the appeals filed by the assessee are allowed

ITA 1055/CHNY/2017[2009-10]Status: DisposedITAT Chennai20 Sept 2017AY 2009-10

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita Nos.1055 & 1056/Mds/2017 "नधा"रण वष" / Assessment Years : 2009-10 & 2010-11

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri Asish Tripathy, JCIT
Section 10BSection 10B(4)Section 143(3)Section 147

…e Act, the Ld.counsel submitted that this section clearly says that the deduction shall be from the profits and gains of 100% Export Oriented Unit. Placing reliance on the order of the Special Bench of this Tribunal in Maral Overseas Ltd. v. Addl. CIT (2012) 16 ITR (Trib) 565, the Ld.counsel submitted that in view of Section 10B(4) of the Act, the entire profit of the undertaking is eligible for deduction under Section 10B of the Act. According to the Ld. counsel, the interest on the fixed deposit receipt has to be treated as profit of the undertaking, therefore, the assessee is 3 I.T.A. Nos.1055 & 1056/Mds/17…

KRUPA TRADING COMPANY,MUMBAI vs. ADDL CIT 15(1), MUMBAI

In the result, appeal of the assessee for assessment year 2007-08 is allowed

ITA 8591/MUM/2010[2007-08]Status: DisposedITAT Mumbai09 Nov 2016AY 2007-08

Bench: Shri G.S.Pannu & Shri Ram Lal Negi

For Appellant: Shri Rahul HakaniFor Respondent: Shri A.Ramchandran
Section 10BSection 10B(1)Section 143(3)Section 1O

…reference to the profits of the business of the undertaking computable in terms of sub-section(4) of section 10B of the Act . In this context, he has relied upon the decision of the Special Bench of the Tribunal in the case of Maral Overseas Ltd. Vs. Addl.CIT 16 ITR (Trib) 565 4 ITA No.7700/Mum/2012 (Assessment Year 2008-09) (Indore Special Bench). Apart thererom reliance has been placed on the following decisions to justify the claim of deduction:- (i) CIT v. Flowserve Microfinish Valves (P) Ltd. (2012) 204 Taxmann 133(Karn)(HC), (ii) CIT vs. Motrola India Electronics (P) Ltd.(2014) 265 CTR 94 (Kar)(HC) (iii…