Mula Pravara Electric Co-Operative Society Ltd. v. DCIT

60 Taxmann.com 424Reported decision2015#10693 most cited
10

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2021 to 2026.

Sections most often in play

Section 132Section 143(3)Section 153ASection 133(6)Section 271(1)(c)Section 41(1)Section 80IB(4)Section 115JB

Issues it is cited on

speculation losssection 43(5)section 153a(1)(a)interest free advancesinterest u/s 234badvance taxsection 153a(1)section 145(3)search assessmentsection 115jregular assessmentdisallowance u/s 14a

Judgments citing Mula Pravara Electric Co-Operative Society Ltd. v. DCIT

Veena Industries Pvt Ltd, Pune vs. DCIT Central Circle2(1), Pune

In the result, the assessee's appeal is allowed

ITA 2874/PUN/2025[2009-10]Status: DisposedITAT Pune10 Apr 2026AY 2009-10

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Respondent: Shri Amit Bobde
Section 132Section 133(6)Section 143(3)Section 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND SHRI VINAY BHAMORE, JUDICIAL MEMBER ITA Nos.2871, 2872, 2873 & 2874/PUN/2025 Assessment Years : 2010-11, 2012-13, 2013-14 & 2009-10 Veena Industries Pvt. Ltd., Vs. DCIT, Central Circle-2(1), Gat No.309, Nanekarwadi, Pune. Chakan, Koyali B.O., Bham, Pune- 410501. PAN : AAACV9329E Appellant Respondent Assessee by Shri Neelesh Khandelwal : Revenue by : Shri Amit Bobde Date of hearing : 09.03.2026 Date of pronouncement : 10.04.2026 आदेश / ORDER PER BENCH : These appeals filed by the assessee are directed against the…

Veena Industries Pvt Ltd, Pune vs. DCIT Central Circle2(1, Pune

In the result, the assessee's appeal is allowed

ITA 2873/PUN/2025[2013-14]Status: DisposedITAT Pune10 Apr 2026AY 2013-14

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Respondent: Shri Amit Bobde
Section 132Section 133(6)Section 143(3)Section 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND SHRI VINAY BHAMORE, JUDICIAL MEMBER ITA Nos.2871, 2872, 2873 & 2874/PUN/2025 Assessment Years : 2010-11, 2012-13, 2013-14 & 2009-10 Veena Industries Pvt. Ltd., Vs. DCIT, Central Circle-2(1), Gat No.309, Nanekarwadi, Pune. Chakan, Koyali B.O., Bham, Pune- 410501. PAN : AAACV9329E Appellant Respondent Assessee by Shri Neelesh Khandelwal : Revenue by : Shri Amit Bobde Date of hearing : 09.03.2026 Date of pronouncement : 10.04.2026 आदेश / ORDER PER BENCH : These appeals filed by the assessee are directed against the…

Veena Industries Pvt Ltd, Pune vs. DCIT Central Circle2(1), Pune

In the result, the assessee's appeal is allowed

ITA 2872/PUN/2025[2012-13]Status: DisposedITAT Pune10 Apr 2026AY 2012-13

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Respondent: Shri Amit Bobde
Section 132Section 133(6)Section 143(3)Section 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND SHRI VINAY BHAMORE, JUDICIAL MEMBER ITA Nos.2871, 2872, 2873 & 2874/PUN/2025 Assessment Years : 2010-11, 2012-13, 2013-14 & 2009-10 Veena Industries Pvt. Ltd., Vs. DCIT, Central Circle-2(1), Gat No.309, Nanekarwadi, Pune. Chakan, Koyali B.O., Bham, Pune- 410501. PAN : AAACV9329E Appellant Respondent Assessee by Shri Neelesh Khandelwal : Revenue by : Shri Amit Bobde Date of hearing : 09.03.2026 Date of pronouncement : 10.04.2026 आदेश / ORDER PER BENCH : These appeals filed by the assessee are directed against the…

Veena Industries Pvt Ltd, Pune vs. DCIT Central Circle2(1), Pune

In the result, the assessee's appeal is allowed

ITA 2871/PUN/2025[2010-11]Status: DisposedITAT Pune10 Apr 2026AY 2010-11

Bench: Shri R. K. Panda & Shri Vinay Bhamore

For Respondent: Shri Amit Bobde
Section 132Section 133(6)Section 143(3)Section 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND SHRI VINAY BHAMORE, JUDICIAL MEMBER ITA Nos.2871, 2872, 2873 & 2874/PUN/2025 Assessment Years : 2010-11, 2012-13, 2013-14 & 2009-10 Veena Industries Pvt. Ltd., Vs. DCIT, Central Circle-2(1), Gat No.309, Nanekarwadi, Pune. Chakan, Koyali B.O., Bham, Pune- 410501. PAN : AAACV9329E Appellant Respondent Assessee by Shri Neelesh Khandelwal : Revenue by : Shri Amit Bobde Date of hearing : 09.03.2026 Date of pronouncement : 10.04.2026 आदेश / ORDER PER BENCH : These appeals filed by the assessee are directed against the…

M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd), Mumbai vs. Dy Comm of Income Tax- Central Circle-7(2), Mumbai

In the result the appeal filed by the revenue stands

ITA 321/MUM/2023[2011-12]Status: DisposedITAT Mumbai17 Sept 2025AY 2011-12

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

Section 132Section 143(3)Section 153ASection 250Section 37(1)

…is to be determined, then, the liability is not a contingent liability (Woodward Governor 312 ITR 254 (SC) &Bharat Earth Movers 245 ITR 428 (SC) followed, Principles of law on accrual of income & loss summarized); (iv) Perfect Circle India Ltd vs DCIT (2015) 60 Taxmann.com 424 (Mum.- Trib.) wherein, while deciding the issue of disallowance of foreign exchange loss on account of marked to market of forex derivative contracts, held by the A.O. as notional loss and by the CIT(A) as speculation loss, have observed as under: We may further observe from the guidelines issued by the Reserve Bank of India relating to ge…

Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd), Mumbai vs. Dy Comm of Income Tax-Central Circle-7(2), Mumbai

In the result the appeal filed by the revenue stands

ITA 319/MUM/2023[2007-08]Status: DisposedITAT Mumbai17 Sept 2025AY 2007-08

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

Section 132Section 143(3)Section 153ASection 250Section 37(1)

…is to be determined, then, the liability is not a contingent liability (Woodward Governor 312 ITR 254 (SC) &Bharat Earth Movers 245 ITR 428 (SC) followed, Principles of law on accrual of income & loss summarized); (iv) Perfect Circle India Ltd vs DCIT (2015) 60 Taxmann.com 424 (Mum.- Trib.) wherein, while deciding the issue of disallowance of foreign exchange loss on account of marked to market of forex derivative contracts, held by the A.O. as notional loss and by the CIT(A) as speculation loss, have observed as under: We may further observe from the guidelines issued by the Reserve Bank of India relating to ge…

DCIT, CC-7(2), Mumbai vs. M/S. Patanjali Foods Ltd., ( Formerly Known As Ruchi Soya Industries Ltd, Mumbai

In the result the appeal filed by the revenue stands dismissed

ITA 1174/MUM/2023[2011-12]Status: DisposedITAT Mumbai17 Sept 2025AY 2011-12

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

Section 132Section 143(3)Section 153ASection 250Section 37(1)

…is to be determined, then, the liability is not a contingent liability (Woodward Governor 312 ITR 254 (SC) &Bharat Earth Movers 245 ITR 428 (SC) followed, Principles of law on accrual of income & loss summarized); (iv) Perfect Circle India Ltd vs DCIT (2015) 60 Taxmann.com 424 (Mum.- Trib.) wherein, while deciding the issue of disallowance of foreign exchange loss on account of marked to market of forex derivative contracts, held by the A.O. as notional loss and by the CIT(A) as speculation loss, have observed as under: We may further observe from the guidelines issued by the Reserve Bank of India relating to ge…

DCIT, CC-7(2), Mumbai vs. M/S. Patanjali Foods Ltd., ( Formerly Known As Ruchi Soya Industries Ltd, Mumbai

In the result the appeal filed by the revenue stands dismissed

ITA 1173/MUM/2023[2011-12]Status: DisposedITAT Mumbai17 Sept 2025AY 2011-12

Bench: Shri Sandeep Gosain & Shri Prabhash Shankar

Section 132Section 143(3)Section 153ASection 250Section 37(1)

…is to be determined, then, the liability is not a contingent liability (Woodward Governor 312 ITR 254 (SC) &Bharat Earth Movers 245 ITR 428 (SC) followed, Principles of law on accrual of income & loss summarized); (iv) Perfect Circle India Ltd vs DCIT (2015) 60 Taxmann.com 424 (Mum.- Trib.) wherein, while deciding the issue of disallowance of foreign exchange loss on account of marked to market of forex derivative contracts, held by the A.O. as notional loss and by the CIT(A) as speculation loss, have observed as under: We may further observe from the guidelines issued by the Reserve Bank of India relating to ge…

Pcl Foods Pvt. Ltd., Gurgaon vs. ACIT, Circle- 19(2), New Delhi

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

ITA 3361/DEL/2019[2015-16]Status: DisposedITAT Delhi31 Oct 2022AY 2015-16

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

For Appellant: Sh. R. K. Kapoor, CA &For Respondent: Sh. Atiq Ahmed, Sr. DR
Section 143(3)Section 234BSection 234CSection 250Section 32Section 43(5)Section 73

…THE INCOME TAX APPELLATE TRIBUNAL DELHIBENCH ‘F’, NEW DELHI Before Dr. B. R. R. Kumar, Accountant Member Sh. Yogesh Kumar US, Judicial Member ITA No. 3361/Del/2019: Asstt. Year : 2015-16 PCL Foods Pvt. Ltd., Vs ACIT, Unit No. 003, Tower-A, Global Circle-19(2), Business Park, Sector-26, Near Guru New Delhi-110002 Dronacharya Metro Station, Gurgaon-122001 (APPELLANT) (RESPONDENT) PAN No. AAHCP3493L Assessee by : Sh. R. K. Kapoor, CA & Ms. Deepti Gupta, CA Revenue by : Sh. Atiq Ahmed, Sr. DR Date of Hearing: 04.08.2022 Date of Pronouncement: 31.10.2022 ORDER Per Dr. B. R. R. Kumar, Accountant Member: The present…

Andritz Hydro P Ltd, Bhopal vs. Pr CIT-1, Bhopal

ITA 199/IND/2020[2015-16]Status: DisposedITAT Indore29 Oct 2021AY 2015-16

Bench: Shri Manish Borad & Ms. Madhumita Royvirtual Hearing

Section 115JSection 253Section 263

…of Director of Income Tax (International Taxation) V Citiban N.A. Appeal No.330 of 2013 (2016) 66 rtaxmann.com 373 (Bombay) (f) Oil & Natural Gas Corpn. Ltd V CIT (2010) 322 ITR 180 (SC) (g) Perfect Circle India Ltd V Deputy Commissioner of Income Tax (2015) 60 Taxmann.com 424 (Mumbai-Trib) (h) DCIT Kotak Mahindra Investment Ltd (Mumbai –Trib) (i) CEE V Ratam Melting & Wires Industries (2008) 13 SCC 12. Per contra Ld. Departmental Representative supported the orders of lower authorities. 13. We have heard rival contentions and perused the records placed before us. We find that the assessee is engaged in the bu…

Mula Pravara Electric Co-Operative Society Ltd. v. DCIT (60 Taxmann.com 424) — Cited in 10 Judgments | BharatTax