Merinoply & Chemicals Ltd. v. CIT

209 ITR 508High Court1994#2703 most cited

What is Merinoply & Chemicals Ltd. v. CIT authority for?

Transport subsidies received by a business operating in a backward area, being inseparably connected with the ongoing business and incidental to its expenditure, constitute a revenue or trading receipt taxable under the Income Tax Act.

43

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2016 to 2025.

Also referred to as

Merinoply & Chemicals Ltd. v. CIT · 209 ITR 508 · Section 2(24) Income Tax Act · Section 28 Income Tax Act · taxability of subsidies · revenue receipt · capital receipt · trading receipt · transport subsidy · incentive scheme · backward area

Sections most often in play

Section 1961Section 2(24) of the Income Tax ActSection 28 of the Income Tax ActSection 41(1) of the Income Tax Act

Issues it is cited on

section 80iabsection 33bsection 75section 10(2a)section 10(35)section 80hsection 40a(9)section 80msection 80icsection 80hhsection 80jsection 115ja

Judgments citing Merinoply & Chemicals Ltd. v. CIT

ACIT, New Delhi vs. M/S. Nanda Maint & Pine Chamicals Ltd., New Delhi

In the result, appeal of the Revenue is dismissed

ITA 5063/DEL/2011[2008-09]Status: DisposedITAT Delhi08 Apr 2016AY 2008-09

Bench: Smt. Diva Singh & Sh. O.P. Kantassessment Year: 2009-10 M/S. Nanda Mint & Pine Vs. Asstt. Commissioner Of Income Tax, Chemicals Ltd., 1/10, Munshi Circle-13(1), New Delhi Niketan, Asaf Ali Road, Near Kamala Market, New Delhi Gir/Pan : Aaccn0965G (Appellant) (Respondent) Appellant By S/Sh. K. Sampath & Raj Kumar, Advocates Respondent By Sh. P. Dam Kanunjna, Sr.Dr & Assessment Year: 2008-09 Asstt. Commissioner Of Income Vs. M/S. Nanda Mint & Pine Chemicals Tax, Circle-13(1), Room No. 406, Ltd., 1/10, Munshi Niketan, Asaf Ali C.R. Building, I.P. Estate, New Road, Near Kamala Market, New Delhi Delhi Gir/Pan : Aaccn0965G (Appellant) (Respondent) Appellant By Smt. Parmita M. Biswas, Cit(Dr) Respondent By S/Sh. K. Sampath & Raj Kumar, Advocates Date Of Hearing 09.03.2016 Date Of Pronouncement 08.04.2016 Order Per O.P. Kant, A.M.: These Two Appeals Of The Revenue & The Assessee Are Preferred Against Two Separate Orders Dated 08.07.2011 & 14.11.2012 Of The Commissioner Of Income-Tax( Appeals)-Xvi, New Delhi For Assessment Year 2008-09 & 2009- Ays: 2008-09 & 2009-10 10 Respectively. Since The Common Issue Of Deduction Under Section 80Ib Of The Income-Tax Act, 1961 Is Involved In Both The Appeals, These Appeals Are Heard Together & Disposed Of By This Consolidated Order.

Section 143(2)Section 80Section 80I

…duty against the export product. In such a scenario, it cannot be said that such duty exemption scheme is derived from profits and gains made by the industrial undertaking or business itself. 21. The Calcutta High Court in Merino Ply & Chemicals Ltd. v. CIT, 209 ITR 508 [1994], held that transport subsidies were inseparably connected with the business carried on by the assessee. In that case, the Division Bench held:- "We do not find any perversity in the Tribunal's finding that the scheme of transport subsidies is inseparably connected with the business carried on by the assessee. It is a fact that the assessee…

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)

…आयकर अपील"य अ"धकरण “A” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर 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) आयकर अपील सं./I.T.A. No. 821/Mum/2014 ("नधा"रण वष" / Assessment Year : 2007-08)…

M/S. Shivalik Prints Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, the appeal of the assessee is allowed

ITA 4698/DEL/2011[2007-08]Status: DisposedITAT Delhi05 Feb 2016AY 2007-08

Bench: Shri N.K. Saini & Shri A.T. Varkeyita No.4698/Del./2011 (Assessment Year : 2007-08) M/S. Shivalik Prints Limited, Vs. Addl.Cit, Range 8, Flat No.3931, Block C – 9, New Delhi. Vasant Kunj, New Delhi. (Pan : Aadcs6186R) (Appellant) (Respondent)

For Appellant: S/Shri Anil Chopra FCA & V.K. Garg, AdvocatesFor Respondent: Shri Sujit Kumar, Senior DR
Section 143(1)Section 143(3)

…that this is a profit substitute as rightly observed by the Ld AO and he has referred decisions which are identically suitable for the case under review. Some of the catena of cases referred by him are listed below :- 4 Merinopli & Chemicals Ltd v CIT (1994) 209 ITR 508 (Cal) V.V.S.V. Meenakshi Achi v CIT (1996) 60 ITR 253 (SC) Saroja Mills Ltd v CIT (1997) 220 ITR 626 (Mad) There are also other cases referred by him and it is no need to mention a" the cases. From the facts of the present case and also from the judicial decision as pronounced by the High Courts and the Apex Court, and the Apex Court, the groun…