MCTM Corpn. (P) Ltd. (1996)2 SCC 471, JK Industries Ltd. v. Chief Inspector of Factors & Boilers

4 SCC 98Reported decision1999#4941 most cited
24

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2012 to 2025.

Issues it is cited on

section 75section 10bainterest on outstanding receivablesinitial assessment yeartransfer pricing ordersection 80hsection 80hhcsection 10btested partysection 80hheligible businesssection 80ib

Judgments citing MCTM Corpn. (P) Ltd. (1996)2 SCC 471, JK Industries Ltd. v. Chief Inspector of Factors & Boilers

NATIONAL COOPERATIVE DEVELOPMENT CORPORATION vs. ASSISTANT COMMISSIONER OF INCOME TAX

C.A. No.-004612-004612 - 2014Supreme Court10 Dec 2025

Bench: HON'BLE MR. JUSTICE PAMIDIGHANTAM SRI NARASIMHA

Section 36(1)(viii)

…ee nexus between the income and the specified business activity. It is judicially settled that "derived from" is narrower than "attributable to", this distinction was lucidly clarified by this Court in Cambay Electric Supply 1 (2016) 6 SCC 747. 2 (1999) 4 SCC 98. 3 (2003) 5 SCC 590. 4 (2009) 9 SCC 328. 11 Industrial Co. Ltd. v. CIT5, where it was held that the legislature uses "derived from" when it intends to give a restricted meaning. The relevant part of the judgment is extracted hereunder: "8. As regards the aspect emerging from the expression "attributable to" occurring in the phrase "pr…

DEPUTY COMMISSIONER OF INCOME TAX, (EXEMPTIONS), CIRCLE-1, BENGALURU vs. RASHTROTTHANA PARISHAT, BENGALURU

In the result, the appeal filed by the Revenue is allowed

ITA 1666/BANG/2024[2017-18]Status: HeardITAT Bangalore30 Dec 2024AY 2017-18

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year: 2017=18

For Appellant: Ms. Neera Malhotra CIT-D.RFor Respondent: Sri Prakash Shridhar Hegde, CA
Section 11Section 11(6)Section 250Section 270ASection 274

…n, etc. in India and abroad. ‘Absolute offences’ are not criminal offences in any real sense but acts which are prohibited in the interest of welfare of the public and the prohibition is backed by sanction of penalty." (c) R.S. Joshi v. Ajit Mills Ltd. [1977] 4 SCC 98 (SCC p. 110, para 19) "Even here we may reject the notion that a penalty or a punishment cannot be cast in the form of an absolute or no-fault liability but must be preceded by mens rea. The classical view that ‘no mens rea, no crime’ has long ago been eroded and several laws in India and abroad, especially regarding economic crimes and departmental…

NHDC LIMITED,BHOPAL vs. DCIT - 3(1), BHOPAL, BHOPAL

In the result, the appeal of the revenue is dismissed, Cross appeal of the assesse is partly allowed for statistical purposes and CO is dismissed being infructuous

ITA 40/IND/2021[2015-16]Status: DisposedITAT Indore11 Dec 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaninhdc Limited Dcit, 3(1) F-01, Nhdc Parisar, Shyamla Bhopal Vs. Hills Bhopal -462013 (Appellant / Assessee) (Revenue) Pan: Aabcn 1732G Dcit, 3(1) Nhdc Limited Bhopal F-01, Nhdc Parisar, Vs. Shyamla Hills Bhopal -462013 (Appellant / Revenue) (Assessee) Pan: Aabcn 1732G

Section 143(3)Section 80I

…roducts. 14. Interpreting the similar expression contained in Section 80 IB, the Supreme Court in CIT v. Meghalaya Steel Ltd. (supra) referred to the decisions in Cambay Electric Supply Industrial Co. Ltd. v. CIT (1978) 2 SCC 644; CIT v. Sterling Foods (1999) 4 SCC 98 and Pandian Chemicals Ltd. (supra) and observed as under: "18......What is to be seen for the applicability of Sections 80-IB and 80- IC is whether the profits and gains are derived from the business. So long as profits and gains emanate directly from the business itself, the fact that the immediate source of the subsidies is the Government would ma…

DCIT 3 (1) , BHOPAL vs. M/S NHDC LTD, BHOPAL

In the result, the appeal of the revenue is dismissed, Cross appeal of the assesse is partly allowed for statistical purposes and CO is dismissed being infructuous

ITA 316/IND/2020[2015-16]Status: DisposedITAT Indore11 Dec 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaninhdc Limited Dcit, 3(1) F-01, Nhdc Parisar, Shyamla Bhopal Vs. Hills Bhopal -462013 (Appellant / Assessee) (Revenue) Pan: Aabcn 1732G Dcit, 3(1) Nhdc Limited Bhopal F-01, Nhdc Parisar, Vs. Shyamla Hills Bhopal -462013 (Appellant / Revenue) (Assessee) Pan: Aabcn 1732G

Section 143(3)Section 80I

…roducts. 14. Interpreting the similar expression contained in Section 80 IB, the Supreme Court in CIT v. Meghalaya Steel Ltd. (supra) referred to the decisions in Cambay Electric Supply Industrial Co. Ltd. v. CIT (1978) 2 SCC 644; CIT v. Sterling Foods (1999) 4 SCC 98 and Pandian Chemicals Ltd. (supra) and observed as under: "18......What is to be seen for the applicability of Sections 80-IB and 80- IC is whether the profits and gains are derived from the business. So long as profits and gains emanate directly from the business itself, the fact that the immediate source of the subsidies is the Government would ma…

SHAH ORIGINALS vs. COMMISSIONER OF INCOME TAX 24 MUMBAI

C.A. No.-002664-002664 - 2011Supreme Court21 Nov 2023

Bench: HON'BLE MR. JUSTICE S.V.N. BHATTI

Section 80

…v. Sterling Foods, Mangalore11 There must be, for the application of the words “derived from”, a direct nexus between the profits and gains and the industrial undertaking. 10 (1998) 9 SCC 540. 11 (1999) 4 SCC 98. 22 2. Pandian Chemicals Ltd. v. Commissioner of Income Tax, Madurai12 The words “derived from” in Section 80-HH of the Income Tax Act, 1961 must be understood as something which has direct or immediate nexus with the appellant's industrial undertaking. 3. Commissioner of Income Tax v. Willamson Financial Services and Ors.13…

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

…of deduction under section 10B of the Act following the Hon’ble Apex Court Judgement in “Liberty India Vs. Commissioner of Income Tax”, (2009) 9 SCC 328: (2009) 317 ITR 218 (SC) and “Commissioner of Income Tax, Karnataka Vs. Sterling Foods”, Mangalore (1999) 4 SCC 98, rendered on the issue of claim of deduction on export incentives u/s 80IB of the Act. The Ld. DR has supported the view of the AO relying on the later judgement rendered by the Hon’ble Apex Court in the case of “M/s. Saraf Exports Vs. Commissioner of Income Tax-III”, in 28 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas L…

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

…of deduction under section 10B of the Act following the Hon’ble Apex Court Judgement in “Liberty India Vs. Commissioner of Income Tax”, (2009) 9 SCC 328: (2009) 317 ITR 218 (SC) and “Commissioner of Income Tax, Karnataka Vs. Sterling Foods”, Mangalore (1999) 4 SCC 98, rendered on the issue of claim of deduction on export incentives u/s 80IB of the Act. The Ld. DR has supported the view of the AO relying on the later judgement rendered by the Hon’ble Apex Court in the case of “M/s. Saraf Exports Vs. Commissioner of Income Tax-III”, in 28 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas L…

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

…of deduction under section 10B of the Act following the Hon’ble Apex Court Judgement in “Liberty India Vs. Commissioner of Income Tax”, (2009) 9 SCC 328: (2009) 317 ITR 218 (SC) and “Commissioner of Income Tax, Karnataka Vs. Sterling Foods”, Mangalore (1999) 4 SCC 98, rendered on the issue of claim of deduction on export incentives u/s 80IB of the Act. The Ld. DR has supported the view of the AO relying on the later judgement rendered by the Hon’ble Apex Court in the case of “M/s. Saraf Exports Vs. Commissioner of Income Tax-III”, in 28 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas L…

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

…of deduction under section 10B of the Act following the Hon’ble Apex Court Judgement in “Liberty India Vs. Commissioner of Income Tax”, (2009) 9 SCC 328: (2009) 317 ITR 218 (SC) and “Commissioner of Income Tax, Karnataka Vs. Sterling Foods”, Mangalore (1999) 4 SCC 98, rendered on the issue of claim of deduction on export incentives u/s 80IB of the Act. The Ld. DR has supported the view of the AO relying on the later judgement rendered by the Hon’ble Apex Court in the case of “M/s. Saraf Exports Vs. Commissioner of Income Tax-III”, in 28 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas L…

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

…of deduction under section 10B of the Act following the Hon’ble Apex Court Judgement in “Liberty India Vs. Commissioner of Income Tax”, (2009) 9 SCC 328: (2009) 317 ITR 218 (SC) and “Commissioner of Income Tax, Karnataka Vs. Sterling Foods”, Mangalore (1999) 4 SCC 98, rendered on the issue of claim of deduction on export incentives u/s 80IB of the Act. The Ld. DR has supported the view of the AO relying on the later judgement rendered by the Hon’ble Apex Court in the case of “M/s. Saraf Exports Vs. Commissioner of Income Tax-III”, in 28 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas L…

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

…of deduction under section 10B of the Act following the Hon’ble Apex Court Judgement in “Liberty India Vs. Commissioner of Income Tax”, (2009) 9 SCC 328: (2009) 317 ITR 218 (SC) and “Commissioner of Income Tax, Karnataka Vs. Sterling Foods”, Mangalore (1999) 4 SCC 98, rendered on the issue of claim of deduction on export incentives u/s 80IB of the Act. The Ld. DR has supported the view of the AO relying on the later judgement rendered by the Hon’ble Apex Court in the case of “M/s. Saraf Exports Vs. Commissioner of Income Tax-III”, in 28 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas L…

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

…of deduction under section 10B of the Act following the Hon’ble Apex Court Judgement in “Liberty India Vs. Commissioner of Income Tax”, (2009) 9 SCC 328: (2009) 317 ITR 218 (SC) and “Commissioner of Income Tax, Karnataka Vs. Sterling Foods”, Mangalore (1999) 4 SCC 98, rendered on the issue of claim of deduction on export incentives u/s 80IB of the Act. The Ld. DR has supported the view of the AO relying on the later judgement rendered by the Hon’ble Apex Court in the case of “M/s. Saraf Exports Vs. Commissioner of Income Tax-III”, in 28 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas L…

WADHWANA HOUSING DEVELOPMENT AND INFRASTRUCTRURE COMPANY ,MUMBAI vs. ASSESSING OFFICER NFAC, MUMBAI

In the result, appeal filed by the assessee is allowed

ITA 3148/MUM/2022[2018-19]Status: DisposedITAT Mumbai20 Apr 2023AY 2018-19

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 43CSection 50CSection 56

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “SMC”, MUMBAI BEFORE SHRI AMIT SHUKLA, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ITA.NO. 3148/MUM/2022 (A.Y: 2018-19) Wadhwana Housing and v. ACIT – Circle – 32(1) Infrastructure Company Room NO. 702, 7th Floor 304, Ganesh Darshan Kautilya Bhavan, C-41 to C-43 G-Block, Bandra Kurla Complex L.T. Road, Borivali (W) Bandra(E), Mumbai - 400051 Mumbai - 400092 PAN: AAOFM5690A (Appellant) (Respondent) Assessee Represented by : None Department Represented by : Shri Minal Kamble Date of Hearing : 30.01.2023 Date of Pronouncement : 20.0…

M/S. SARAF EXPORTS vs. COMMISSIONER OF INCOME TAX, JAIPUR - III

C.A. No.-004822-004822 - 2022Supreme Court10 Apr 2023

Bench: HON'BLE MR. JUSTICE M.R. SHAH

Section 143(2)Section 75Section 80

…rawback Scheme. 2.4 By the impugned judgment and order and relying upon the decision of this Court in the case of Liberty India (supra) and the decision of this Court in the case of Commissioner of Income Tax, Karnataka Vs. Sterling Foods, Mangalore (1999) 4 SCC 98, the High Court has allowed the appeal preferred by the Revenue and has restored the order passed by the Deputy Commissioner disallowing the deductions claimed under Section 80-IB of the Act, 1961. The impugned judgment and order passed by the High Court is the subject matter of the present appeal. CIVIL APPEAL NO. 4822 OF 2022…

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1)(2), BANGALORE vs. M/S. BANGALORE INTERNATIONAL AIRPORT LIMITED, BANGALORE

The appeal of the assessee is partly allowed, whereas the revenue’s appeal is dismissed

ITA 374/BANG/2020[2013-14]Status: DisposedITAT Bangalore14 Jun 2022AY 2013-14

Bench: Shri George George K. & Ms. Padmavathy Sassessment Year : 2013-14

For Appellant: Shri T. Suryanarayana, Senior AdvocateFor Respondent: Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru
Section 250Section 271(1)(c)Section 80Section 80I

…roducts. 14. Interpreting the similar expression contained in Section 80 IB, the Supreme Court in CIT v. Meghalaya Steel Ltd. (supra) referred to the decisions in Cambay Electric Supply Industrial Co. Ltd. v. CIT (1978) 2 SCC 644; CIT v. Sterling Foods (1999) 4 SCC 98 and Pandian Chemicals Ltd. (supra) and observed as under: “18. …..What is to be seen for the applicability of Sections 80-IB and 80- IC is whether the profits and gains are derived from the business. So long as profits and gains emanate directly from the business itself, the fact that the immediate source of the subsidies is the Government would mak…

M/S. BANGALORE INTERNATIONAL AIRPORT LIMITED,BANGALORE vs. COMMISSIONER OF INCOME TAX (APPEALS)- 1, BANGALORE

The appeal of the assessee is partly allowed, whereas the revenue’s appeal is dismissed

ITA 191/BANG/2020[2013-14]Status: DisposedITAT Bangalore14 Jun 2022AY 2013-14

Bench: Shri George George K. & Ms. Padmavathy Sassessment Year : 2013-14

For Appellant: Shri T. Suryanarayana, Senior AdvocateFor Respondent: Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru
Section 250Section 271(1)(c)Section 80Section 80I

…roducts. 14. Interpreting the similar expression contained in Section 80 IB, the Supreme Court in CIT v. Meghalaya Steel Ltd. (supra) referred to the decisions in Cambay Electric Supply Industrial Co. Ltd. v. CIT (1978) 2 SCC 644; CIT v. Sterling Foods (1999) 4 SCC 98 and Pandian Chemicals Ltd. (supra) and observed as under: “18. …..What is to be seen for the applicability of Sections 80-IB and 80- IC is whether the profits and gains are derived from the business. So long as profits and gains emanate directly from the business itself, the fact that the immediate source of the subsidies is the Government would mak…

THE PRINCIPAL COMMISSIONER OF INCOME TAX -I KOL vs. M/S SUVRIDHI CAPITAL MARKETS LTD

The appeals are allowed and the order passed

ITAT/75/2018HC Calcutta26 Mar 2021

Bench: HON'BLE JUSTICE RAJESH BINDAL, CHIEF JUSTICE (ACTING),HON'BLE JUSTICE ANIRUDDHA ROY

…that person or body of persons, to another person or body of persons, with complete power of revocation or amendment remaining in the grantor or delegator. It is important to grasp the 4 (1974) 4 SCC 98 MAT NO. 1141 OF 2017 & MAT NO. 350 OF 2018 Page 45 of 56 implications of this, for, much confusion of thought has unfortunately resulted from assuming that delegation involves or may involve, the complete abdication or abrogation of a power. This is precluded by the definition. Delegation often involves the granting of discretionary auth…

PRINCIPAL COMMISSIONER OF INCOME TAX, KOL-12 vs. AMIT AGARWAL

The appeals are allowed and the order passed

ITA/104/2018HC Calcutta26 Mar 2021

Bench: HON'BLE JUSTICE RAJESH BINDAL, CHIEF JUSTICE (ACTING),HON'BLE JUSTICE ANIRUDDHA ROY

…that person or body of persons, to another person or body of persons, with complete power of revocation or amendment remaining in the grantor or delegator. It is important to grasp the 4 (1974) 4 SCC 98 MAT NO. 1141 OF 2017 & MAT NO. 350 OF 2018 Page 45 of 56 implications of this, for, much confusion of thought has unfortunately resulted from assuming that delegation involves or may involve, the complete abdication or abrogation of a power. This is precluded by the definition. Delegation often involves the granting of discretionary auth…

PRINCIPAL COMMISSIONER OF INCOME TAX ,KOLKATA -2 ,KOLKATA vs. M/S GOODRICKE GROUP LTD.

The appeals are allowed and the order passed

ITAT/169/2018HC Calcutta14 Jan 2021

Bench: HON'BLE JUSTICE RAJESH BINDAL, CHIEF JUSTICE (ACTING),HON'BLE JUSTICE ANIRUDDHA ROY

…that person or body of persons, to another person or body of persons, with complete power of revocation or amendment remaining in the grantor or delegator. It is important to grasp the 4 (1974) 4 SCC 98 MAT NO. 1141 OF 2017 & MAT NO. 350 OF 2018 Page 45 of 56 implications of this, for, much confusion of thought has unfortunately resulted from assuming that delegation involves or may involve, the complete abdication or abrogation of a power. This is precluded by the definition. Delegation often involves the granting of discretionary auth…

DCIT 5(2), MUMBAI vs. LAHOTI OVERSEAS LTD, MUMBAI

In the result, appeal of the assessee company in ITA

ITA 3812/MUM/2012[2003-04]Status: DisposedITAT Mumbai30 Mar 2016AY 2003-04

Bench: Shri Amit Shukla & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 3812/Mum/2012 ("नधा"रण वष" / Assessment Year : 2003-04) Dy. Commissioner Of Income M/S Lahoti Overseas Ltd., बनाम/ Tax , 5(2),Room No. 571, 307, Arun Chambers, V. 5 Th Floor, Tardeo Road, Tardeo, Aayakar Bhavan, Mumbai - 400034. M.K. Road, Mumbai – 400 020. "थायी लेखा सं./Pan : Aaacl2578 H .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

For Appellant: Shri Yogesh TharFor Respondent: Shri Ganesh Bare (Sr.DR)
Section 133ASection 143(3)Section 147Section 148Section 151(1)

…o” has been used, the Legislature intended to cover receipts from sources other than the actual conduct of the business of generation and distribution of electricity.” (Para 8) 14. In Commissioner Of Income Tax, Karnataka v. Sterling Foods, Mangalore, (1999) 4 SCC 98, this Court had to decide whether income derived by the assessee by sale of import entitlements on export being ITA 3813/M/12, 821/M/14, 96 ITA 3812/M/12 & 3821/M/12 made, was profit and gain derived from the respondent’s industrial undertaking under Section 80HH of the Indian Income Tax Act. This Court referred to the judgment in Cambay Electri…

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