National Rayon Corpn. Ltd. v. CIT

93 Taxmann 754Supreme Court of India1997#8632 most cited
13

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2023.

Also reported as

7 SCC 56

Issues it is cited on

section 33acsection 80hhesection 117section 4asection 32asection 210section 74section 73section 115jasection 72section 288section 80h

Judgments citing National Rayon Corpn. Ltd. v. CIT

LABH CAPITAL SERVICES PVT LTD.,,MUMBAI vs. ITO, WARD-7(1)(4), MUMBAI

In the result, both the appeals of assessees‟ are allowed

ITA 1326/MUM/2023[2013-14]Status: DisposedITAT Mumbai27 Sept 2023AY 2013-14

Bench: Aby T Vakery & Shri Amarjit Singhlabh Capital Services Pvt Vs. Income Tax Officer, Ward Ltd. 7(1)(4) A-Wing Mahatre Pen Room No. 1104, 11Th Bldg, Senapati Bapat Floor, Pratishtha Bhavan, Marg, Dadar (W) M.K. Road, Mumbai- Mumbai- 400028 400020

For Appellant: Shri Mahaveer Jain, ARFor Respondent: Shri Manoj Kumar Sinha, DR
Section 115JSection 142(2)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE ABY T VAKERY, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER Labh Capital Services Pvt Vs. Income Tax Officer, Ward Ltd. 7(1)(4) A-Wing Mahatre Pen Room No. 1104, 11th Bldg, Senapati Bapat Floor, Pratishtha Bhavan, Marg, Dadar (W) M.K. Road, Mumbai- Mumbai- 400028 400020 स्थायी लेखा सं./जीआइआर सं./ PAN/GIR No: AAACL2308R Appellant .. Respondent Appellant by : Shri Mahaveer Jain, AR, Respondent by : Shri Manoj Kumar Sinha, DR Date of Hearing 24.08.2023 Date of Pronouncement 27.09.2023 आदेश / O R D E R PER AMARJIT SINGH :- 1. The present ap…

M/S. BHARAT ALUMINIUM COMPANY LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the appeals of the assessee are partly allowed for statistical purpose

ITA 2741/DEL/2017[2012-13]Status: DisposedITAT Delhi17 Jul 2023AY 2012-13

Bench: Sh. Saktijit Deydr. B. R. R. Kumar

For Appellant: Sh. Kanchan Kaushal, FCAFor Respondent: Sh. P. Praveen Sidharth, CIT DR
Section 115JSection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI Before Sh. Saktijit Dey, Vice President Dr. B. R. R. Kumar, Accountant Member ITA No. 5118/Del/2015 : Asstt. Year: 2010-11 ITA No. 3568/Del/2016 : Asstt. Year: 2011-12 ITA No. 2741/Del/2017 : Asstt. Year: 2012-13 Bharat Aluminium Company Ltd., Vs. DCIT, Core-6, Scope Office Complex, Circle-4(2), Lodhi Road, New Delhi-110003 New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACB1290N Assessee by : Sh. Kanchan Kaushal, FCA Revenue by : Sh. P. Praveen Sidharth, CIT DR Date of Hearing: 27.04.2023 Date of Pronouncement: 17.07.2023 ORDER Per Dr. B. R. R. Kumar,…

M/S. BHARAT ALUMINIUM COMPANY LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the appeals of the assessee are partly allowed for statistical purpose

ITA 3568/DEL/2016[2011-12]Status: DisposedITAT Delhi17 Jul 2023AY 2011-12

Bench: Sh. Saktijit Deydr. B. R. R. Kumar

For Appellant: Sh. Kanchan Kaushal, FCAFor Respondent: Sh. P. Praveen Sidharth, CIT DR
Section 115JSection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI Before Sh. Saktijit Dey, Vice President Dr. B. R. R. Kumar, Accountant Member ITA No. 5118/Del/2015 : Asstt. Year: 2010-11 ITA No. 3568/Del/2016 : Asstt. Year: 2011-12 ITA No. 2741/Del/2017 : Asstt. Year: 2012-13 Bharat Aluminium Company Ltd., Vs. DCIT, Core-6, Scope Office Complex, Circle-4(2), Lodhi Road, New Delhi-110003 New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACB1290N Assessee by : Sh. Kanchan Kaushal, FCA Revenue by : Sh. P. Praveen Sidharth, CIT DR Date of Hearing: 27.04.2023 Date of Pronouncement: 17.07.2023 ORDER Per Dr. B. R. R. Kumar,…

M/S. BHARAT ALUMINIUM COMPANY LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the appeals of the assessee are partly allowed for statistical purpose

ITA 5118/DEL/2015[2010-11]Status: DisposedITAT Delhi17 Jul 2023AY 2010-11

Bench: Sh. Saktijit Deydr. B. R. R. Kumar

For Appellant: Sh. Kanchan Kaushal, FCAFor Respondent: Sh. P. Praveen Sidharth, CIT DR
Section 115JSection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI Before Sh. Saktijit Dey, Vice President Dr. B. R. R. Kumar, Accountant Member ITA No. 5118/Del/2015 : Asstt. Year: 2010-11 ITA No. 3568/Del/2016 : Asstt. Year: 2011-12 ITA No. 2741/Del/2017 : Asstt. Year: 2012-13 Bharat Aluminium Company Ltd., Vs. DCIT, Core-6, Scope Office Complex, Circle-4(2), Lodhi Road, New Delhi-110003 New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACB1290N Assessee by : Sh. Kanchan Kaushal, FCA Revenue by : Sh. P. Praveen Sidharth, CIT DR Date of Hearing: 27.04.2023 Date of Pronouncement: 17.07.2023 ORDER Per Dr. B. R. R. Kumar,…

GROUP HOUSING DEVELOPMENT CORPORATION PVT. LTD.,MUMBAI vs. DCIT - CC -5(4), MUMBAI

In the result, appeal of the assessee is partly allowed

ITA 1893/MUM/2019[2015-16]Status: DisposedITAT Mumbai06 Jan 2023AY 2015-16

Bench: The Regulatory Authorities. In View Of The Continuous Non-Cooperation From The Side Of The Assessee, We Deem It Fit To Dispose Of This Appeal By Hearing The Ld. Dr & Based On The Materials Available On Record.

Section 115JSection 143(3)Section 14ASection 234B

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI M.BALAGANESH, ACCOUNTANT MEMBER M/s. Group Housing Vs. Dy. Commissioner of Development Corporation Income Tax Pvt. Ltd. Central Circle-5(4) Room No.1, 3rd Floor Room No.1927, 19th Floor Capri, Anant Kanekar Marg Air India Building Bandra (E) Nariman Point Mumbai – 400 051 Mumbai – 400 021 PAN/GIR No.AAACG9011G (Appellant) .. (Respondent) Assessee by None Revenue by Shri H.K. Lal Date of Hearing 03/01/2023 Date of Pronouncement 06/01/2023 आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in ITA No.…

M/S SERVEALL CONSTRUCTION PVT. LTD.,VASAI vs. DY. CIT CENTRAL 5(4), MUMBAI

In the result, appeal of the assessee is partly allowed

ITA 1892/MUM/2019[2015-16]Status: DisposedITAT Mumbai06 Jan 2023AY 2015-16

Bench: The Regulatory Authorities. In View Of The Continuous Non-Cooperation From The Side Of The Assessee, We Deem It Fit To Dispose Of This Appeal By Hearing The Ld. Dr & Based On The Materials Available On Record.

Section 115JSection 143(3)Section 14ASection 234BSection 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI M.BALAGANESH, ACCOUNTANT MEMBER M/s. Serveall Construction Vs. Dy. Commissioner of Pvt. Ltd. Income Tax Dewan Tower, Central Circle 5(4) Room No.1927, 19th Floor Navghar, Vasai Road Vasai (W) Air India Building Thane- 401 202 Nariman Point Mumbai – 400 021 PAN/GIR No.AADCS4763Q (Appellant) .. (Respondent) Assessee by None Revenue by Shri H.K. Lal Date of Hearing 03/01/2023 Date of Pronouncement 06/01/2023 आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in ITA No.1892/Mum/2019 for A.Y.2015-16 aris…

ITO TDS WARD, TIRUPUR vs. SHANTHI FORTUNE (INDIA) PVT. LTD., TIRUPUR

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue and the CO filed by the assessee are dismissed

ITA 2557/CHNY/2018[2009-10]Status: DisposedITAT Chennai30 Nov 2022AY 2009-10

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. No.2385/Chny/2018 िनधा"रण वष"/Assessment Year: 2009-10 M/S. Shanthi Fortune (India) Vs. The Assistant Commissioner Of Private Limited, Income Tax, Door No. 38, Trichy Road, Tds Circle, Coimbatore. Palladam 641 664. [Pan: Aajcs4289D] आयकर अपील सं./I.T.A. No.2557/Chny/2018 िनधा"रण वष"/Assessment Year: 2009-10 & C.O. No. 88/Chny/2019 [In I.T.A. No.2557/Chny/2018] The Income Tax Officer, Vs. M/S. Shanthi Fortune (India) Tds Ward, No. 121, Private Limited, Sixty Feet Road, Tirupur 641 602. Door No. 38, Trichy Road, Palladam 641 664. (अपीलाथ" /Appellant) (""थ"/Respondent/Cross Objector) Department By : Shri P. Sajit Kumar, Jcit Assessee By : Shri N Arjun Raj, C.A. सुनवाई की तारीख/ Date Of Hearing : 17.11.2022 घोषणा की तारीख /Date Of Pronouncement : 30.11.2022 आदेश /O R D E R Per V. Durga Rao: Both The Cross Appeals Filed By The Assessee As Well As Revenue Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 2, Coimbatore, Dated 25.06.2018 Relevant To The Assessment

For Appellant: Shri N Arjun Raj, C.AFor Respondent: Shri P. Sajit Kumar, JCIT
Section 153(3)Section 254

…4. Therefore, the Assistant Commissioner should have passed the assessment order on or before 31.12.2014, but the same was came to be passed on 30.08.2016. 2.3 The Hon'ble Supreme Court of India in "M.P. Steel Corporation vs. Comm. of Central Excise" - (2015) 7 SCC 56 (SC) settled the law that a law relating to limitation and forum being procedural laws, will be applicable from retrospectively. The relevant portions from the said judgement is reproduced herein below: Though periods of limitation, being procedural law, are to be applied retrospectively, yet if a shorter period of limitation is provided by a later…

SHANTHI FORTUNE (INDIA) PRIVATE LIMITED,TIRUPUR vs. ACIT TDS CIRCLE, COIMBATORE

In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue and the CO filed by the assessee are dismissed

ITA 2385/CHNY/2018[2009-10]Status: DisposedITAT Chennai30 Nov 2022AY 2009-10

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. No.2385/Chny/2018 िनधा"रण वष"/Assessment Year: 2009-10 M/S. Shanthi Fortune (India) Vs. The Assistant Commissioner Of Private Limited, Income Tax, Door No. 38, Trichy Road, Tds Circle, Coimbatore. Palladam 641 664. [Pan: Aajcs4289D] आयकर अपील सं./I.T.A. No.2557/Chny/2018 िनधा"रण वष"/Assessment Year: 2009-10 & C.O. No. 88/Chny/2019 [In I.T.A. No.2557/Chny/2018] The Income Tax Officer, Vs. M/S. Shanthi Fortune (India) Tds Ward, No. 121, Private Limited, Sixty Feet Road, Tirupur 641 602. Door No. 38, Trichy Road, Palladam 641 664. (अपीलाथ" /Appellant) (""थ"/Respondent/Cross Objector) Department By : Shri P. Sajit Kumar, Jcit Assessee By : Shri N Arjun Raj, C.A. सुनवाई की तारीख/ Date Of Hearing : 17.11.2022 घोषणा की तारीख /Date Of Pronouncement : 30.11.2022 आदेश /O R D E R Per V. Durga Rao: Both The Cross Appeals Filed By The Assessee As Well As Revenue Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 2, Coimbatore, Dated 25.06.2018 Relevant To The Assessment

For Appellant: Shri N Arjun Raj, C.AFor Respondent: Shri P. Sajit Kumar, JCIT
Section 153(3)Section 254

…4. Therefore, the Assistant Commissioner should have passed the assessment order on or before 31.12.2014, but the same was came to be passed on 30.08.2016. 2.3 The Hon'ble Supreme Court of India in "M.P. Steel Corporation vs. Comm. of Central Excise" - (2015) 7 SCC 56 (SC) settled the law that a law relating to limitation and forum being procedural laws, will be applicable from retrospectively. The relevant portions from the said judgement is reproduced herein below: Though periods of limitation, being procedural law, are to be applied retrospectively, yet if a shorter period of limitation is provided by a later…

M.M. AQUA TECHNOLOGIES LTD. vs. COMMISSIONER OF INCOME TAX, DELHI - III

Appeals are allowed in the aforesaid terms

C.A. No.-004742-004743 - 2021Supreme Court11 Aug 2021

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

Section 43B

…f this case, has been converted into a loan. There is no basis for this finding - as a matter of fact, it is directly contrary to the finding on facts of the authorities below. 26. The learned ASG’s reliance on National Rayon Corpn. Ltd. v. CIT, (1997) 7 SCC 56 is disingenuous. That was a decision which turned on whether a sum of Rs.79 lakhs represents ‘Debenture Redemption Reserve’ and was includible in computing the capital of the assessee company for the purpose of the Companies (Profits) Surtax Act, 1964. The High Court took the view that the amount set apart to redeem 21 debentures had…

V.R. CONSTRUCTION P.LTD,MUMBAI vs. ASST CIT 11(3)(2), MUMBAI

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

ITA 5048/MUM/2017[2012-13]Status: DisposedITAT Mumbai30 Aug 2019AY 2012-13

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2012-13

For Appellant: Mr. Naresh Jain, ARFor Respondent: Mr. Sushil Kumar Poddar, DR
Section 115Section 115JSection 143(3)Section 33ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F” MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2012-13 M/s V.R. Constructions Pvt. DCIT-8(3), Mumbai. Ltd., 114, Shreepal Vs. Industrial Estate, SV Road, Jogeshwari (East), Mumbai- 400095. PAN No. AABCV3162A Appellant Respondent Assessment Year: 2012-13 DCIT, Cent. Cir. – 6(2), R. No. M/s V.R. Constructions 1903, 19th floor, Air India Vs. Pvt. Ltd., 114, Shreepal Building, Nariman Point, Industrial Estate, SV Road, Mumbai-400021. Jogeshwari (East), Mumbai-400095. PAN No. AABCV3162A Appellant…

PERSTORP CHEMICALS INDIA P.LTD,NAVI MUMBAI vs. ITO 10(2)(2), MUMBAI

Appeal is partly allowed

ITA 4364/MUM/2012[2007-08]Status: DisposedITAT Mumbai03 Jan 2018AY 2007-08
For Appellant: Shri Mayur KisnadwalaFor Respondent: S/Shri V. Jenardhanan -DR
Section 254(1)Section 92

…आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण, , , , मुंबई आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण मुंबई मुंबई “केकेकेके ” ” ” ” खंडपीठ मुंबई खंडपीठ खंडपीठ खंडपीठ Income-tax Appellate Tribunal “K”Bench Mumbai सव"ी सव"ी सव"ी राजे"" सव"ी राजे"" राजे"", लेखा राजे"" लेखा लेखा सद"य लेखा सद"य सद"य एवं सद"य एवं एवं रिवश सूद एवं रिवश सूद रिवश सूद, "याियक रिवश सूद "याियक "याियक सद"य "याियक सद"य सद"य सद"य Before S/Sh. Rajendra,Accountant Member & Ravish Sood, Judicial Member आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./I.T.A./4364/Mum/2012, िनधा"रण अपील िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" /Assessment Year: 2007-08 वष" आयकर आयकर अ…

RACHANA FINANCE & INVESMENT P.LTD,MUMBAI vs. ITO WD 9(3)(4), MUMBAI

In the result, both the appeals of assessees’ are allowed

ITA 5817/MUM/2015[2012-13]Status: DisposedITAT Mumbai31 May 2017AY 2012-13

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

Section 115JSection 143(3)(ii)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI N.K. PRADHAN, AM ITA No.5817& 5816/Mum/2015 (A.Y:2012-13) Rachana Finance & Investment Income Tax Officer P. Ltd. Ward 9(3)(4) Repute Properties P. Ltd. New WD 13(3)(1) A Wing, 2nd Floor, Hatre Pen Aayakar Bhavan, M.K. RD Vs. Bldg,Senapati Bapat Marg, Mumbai-400 020 Dadar West, Mumbai-400 028 PAN No. AAACR4930M PAN No. AAACR4929A Appellant .. Respondent Assessee by .. Shri Naresh Jain & Prateek Jain, ARs’ Revenue by .. Shri K. Ravikiran, DR Date of hearing .. 18-05-2017 Date of pronouncement .. 31-05-2017 O R D E R PER M…

REPUTE PROPERTIES P.LTD,MUMBAI vs. ITO WD 9(3)(4), MUMBAI

In the result, both the appeals of assessees’ are allowed

ITA 5816/MUM/2015[2012-13]Status: DisposedITAT Mumbai31 May 2017AY 2012-13

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

Section 115JSection 143(3)(ii)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI N.K. PRADHAN, AM ITA No.5817& 5816/Mum/2015 (A.Y:2012-13) Rachana Finance & Investment Income Tax Officer P. Ltd. Ward 9(3)(4) Repute Properties P. Ltd. New WD 13(3)(1) A Wing, 2nd Floor, Hatre Pen Aayakar Bhavan, M.K. RD Vs. Bldg,Senapati Bapat Marg, Mumbai-400 020 Dadar West, Mumbai-400 028 PAN No. AAACR4930M PAN No. AAACR4929A Appellant .. Respondent Assessee by .. Shri Naresh Jain & Prateek Jain, ARs’ Revenue by .. Shri K. Ravikiran, DR Date of hearing .. 18-05-2017 Date of pronouncement .. 31-05-2017 O R D E R PER M…

National Rayon Corpn. Ltd. v. CIT (93 Taxmann 754) — Cited in 13 Judgments | BharatTax