Mohan Breweries & Distilleries Ltd. v. ACIT

The DCIT, Circle-1(1), Baroda vs. Gujarat Industries Power Co.Ltd., Baroda

In the result, the captioned appeals are

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

…Regarding the computation of profits in conformity with the provisions of section 80IA(5), it is seen that the controversy in question is covered by the decision of the Chennai Bench of the Tribunal in the case of Mohan Breweries & Distilleries Ltd. v. ACIT, 114 TTJ 532, in this case the Chennai Tribunal has very categorically held that initial assessment year is the year in which the assessee first opts to be governed by the deduction provisions and not the year of manufacture. Following the judgment, the CIT(A) allowed the claim made by the assessee. 8.1. Issue No.3 relates to disallowance under Section 14A o…

The DCIT, Circle-1(1), Baroda vs. M/S. Gujarat Industrial Power Co.Ltd., Baroda

In the result, the captioned appeals are

Bench: Shri Mahavir Prasad, Judicial Memebr & Shri Waseem Ahmed, Accountant Memebr

…Regarding the computation of profits in conformity with the provisions of section 80IA(5), it is seen that the controversy in question is covered by the decision of the Chennai Bench of the Tribunal in the case of Mohan Breweries & Distilleries Ltd. v. ACIT, 114 TTJ 532, in this case the Chennai Tribunal has very categorically held that initial assessment year is the year in which the assessee first opts to be governed by the deduction provisions and not the year of manufacture. Following the judgment, the CIT(A) allowed the claim made by the assessee. 8.1. Issue No.3 relates to disallowance under Section 14A o…

Banco Products (India) Ltd., Baroda vs. The Dy.CIT., Circle-1(1), Baroda

In the result ground no.3(ii) of the Revenue’s appeal is dismissed

…Regarding the computation of profits in conformity with the provisions of section 801A(5), it is seen that the controversy in question is covered by the decision of the Chennai Bench of the Tribunal in the case of Mohan Breweries & Distilleries Ltd. v. ACIT, 114 TTJ 532. In this case the Tribunal has very categorically held that initial assessment year is the year in which the assesse first opts to be governed by the deduction provisions and not necessarily the year of commencement of manufacturing activity. In the context of initial assessment year the Tribunal observes as under: "Adverting to the facts of the…

The DCIT, Circle-1(1)(1), Baroda vs. M/S. Banco Aluminium Ltd., Baroda

In the result, appeal filed by the assessee is allowed and filed by the department is dismissed

…s given an elaborate finding and followed the decision(s) of the Coordinate Bench (ITAT Mumbai Bench) rendered in case of West Coast Paper Mills vs. ACIT (103 ITD 19) and ITAT Chennai Bench rendered in the case of Mohan Breweries & Distilleries Ltd. vs. ACIT (114 TTJ 532) and other case-laws. Therefore, we do not any infirmity in the finding of the ld.CIT(A), same is hereby upheld. 49. In view of the decision of the Co-ordinate Bench as noted above and also the issue being pari materia with ground no.3(i) in ITA No.1411/Ahd/2014 (supra), we do not find any merit in the grievance of the Revenue on this score. 6. I…

M/S. Banco Aluminium Ltd., Baroda vs. The Dy.CIT, Circle-1(1), Baroda

In the result, appeal filed by the assessee is allowed and filed by the department is dismissed

…s given an elaborate finding and followed the decision(s) of the Coordinate Bench (ITAT Mumbai Bench) rendered in case of West Coast Paper Mills vs. ACIT (103 ITD 19) and ITAT Chennai Bench rendered in the case of Mohan Breweries & Distilleries Ltd. vs. ACIT (114 TTJ 532) and other case-laws. Therefore, we do not any infirmity in the finding of the ld.CIT(A), same is hereby upheld. 49. In view of the decision of the Co-ordinate Bench as noted above and also the issue being pari materia with ground no.3(i) in ITA No.1411/Ahd/2014 (supra), we do not find any merit in the grievance of the Revenue on this score. 6. I…