Mysodet (P) Ltd. v. CIT

305 ITR 276Supreme Court of India2008#24395 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2015 to 2018.

Judgments citing Mysodet (P) Ltd. v. CIT

Mmtc Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee in ITA No

ITA 4122/DEL/2015[1997-98]Status: DisposedITAT Delhi20 Sept 2018AY 1997-98

Bench: Shri N.K. Billaiya & Shri N.K. Choudhary[Assessment Year: 1997-98] M/S Mmtc Limited Vs. The D.C.I.T Core -1, Scope Complex Circle 16(2) 7, Institutional Area New Delhi Lodhi Road, New Delhi Pan : Aaacm 1433 E [Appellant] [Respondent]

For Appellant: Shri Rohit Jain, AdvFor Respondent: Ms. Asima Neb, Sr. DR

Section 143(3)Section 154Section 250Section 80ASection 80A(1)Section 80H

…e issue that deduction, as computed, u/s 80HHC read with section 80AB of the Act, is admissible to the appellant in accordance with section 80A(1) of the Act out of GT1 and cannot be restricted to Business Income following the Hon’ble Supreme Court Judgement (305 ITR 276). 4. That on facts, in the circumstances of the case and in law, the Learned C1T(A) erred in reaffirming the reliance upon the decision of Bombay High Court in the case of Kanti Lal Chhote Lal (246 ITR 439) relied upon by his predecessor, which deals with the issue of reassortment charges forming part of business profits/turnover and not with reg…

DCIT (OSD) RG 8(1), Mumbai vs. Gold Star Jewellry P.Ltd, Mumbai

In the result, appeals filed by revenue as well as assessee are dismissed

ITA 7348/MUM/2013[2002-03]Status: DisposedITAT Mumbai21 Dec 2016AY 2002-03

Bench: Shri R.C.Sharma, Am & Shri Pawan Singh, Jm Dcit – 8(1), Mumbai Vs. M/S. Gold Star Jewellery Ltd., Unit Iii-A, Gold Star House, Black “C”, Plot 16P, 17,28 & 29, Seepz-Sez, Andheri (E), Mumbai – 400096 Pan/Gir No. Aaacg3264B Appellant) .. Respondent) & M/S. Gold Star Jewellery Vs. Dcit – 8(1), Mumbai Ltd., Unit Iii-A, Gold Star House, Black “C”, Plot 16P, 17,28 & 29, Seepz-Sez, Andheri (E), Mumbai – 400096 Pan/Gir No. Aaacg3264B Appellant) Respondent) ..

Section 10ASection 143Section 143(3)Section 234Section 263Section 80H

…act whether separate books of accounts were maintained, but whether there was interconnection, interrelation and interdependency of the two business units. He also referred to the judgment of Hon'ble Supreme Court in the case of Mysodet P. Ltd. vs. CIT (2008) 305 ITR 276, in which it was held that the quantum of deduction had to be on the ITA No : 3356/Mum/2008 M/s. Gold Star Jewellery Limited basis of the proportion of the business profit in respective of what could be described as profit from the export or mercantile in India. In reply, the learned AR for the assessee pointed out that the said judgment of the H…

M/S Grain Merchant Society, Tumkur vs. Income Tax Officer, Ward.2, Tumkur

In the result, the assessee's appeal for Assessment Year 2008-09 is allowed

ITA 1183/BANG/2014[2008-09]Status: DisposedITAT Bangalore10 Apr 2015AY 2008-09

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz

For Appellant: Shri S. Ramasubramanian, C.AFor Respondent: Dr.P.K. Srihari, Addl. CIT (D.R.)

Section 143(1)Section 143(3)Section 147Section 148Section 40Section 80Section 80P(2)Section 80P(2)(a)

…-ordinate bench at paras 27 to 29 thereof has held as under :- “ 27. Besides the above, we also find substance in the argument of the learned counsel for the Assessee based on the decisions of the Hon’ble Supreme Court in the case of Mysodet (P) Ltd. Vs. CIT 305 ITR 276 (SC) and P.R. Prabhaukar Vs. CIT 284 ITR 548 (SC) that deduction u/s.80HHC of the Act is to be computed only with reference to the formula given in Sec.80HHC(3) of the Act and income computed under the head “Profits & Gains of Business or profession” should be adopted subject to Explanation (baa) to Sec.80HHC of the Act. 28. In the case of Mysode…