Navjivan Roller Flour & Pulse Mills Ltd. v. DCIT

Bharti Telemedia Limited, New Delhi vs. DCIT, Circle-4(2), New Delhi

In the result, the appeals of the Assessee are allowed and appeals of the Revenue are dismissed

Bench: Shri C.N. Prasad & Shri M. Balaganesh

…and decree was passed by the Single Judge and, consequently, assessee incurred liability to pay interest and was entitled to deduction under section 37(1) of the Act. 48. The Gujarat High Court in the case of Navjivan Roller Flour & Pulse Mills Ltd. vs. DCIT: 315 ITR 190 (Guj.) held that the liability to pay damages would arise on date of award for damages even if award was challenged by assessee in further appeal, which was pending. Accordingly, the damages were held allowable deduction under section 37(1) of the Act in the year of award. 49. Reliance in this regard is placed on the following decisions wherein i…

DCIT, Circle 4(2), New Delhi vs. M/S Bharti Telemedia Ltd, New Delhi

In the result, the appeals of the Assessee are allowed and appeals of the Revenue are dismissed

Bench: Shri C.N. Prasad & Shri M. Balaganesh

…and decree was passed by the Single Judge and, consequently, assessee incurred liability to pay interest and was entitled to deduction under section 37(1) of the Act. 48. The Gujarat High Court in the case of Navjivan Roller Flour & Pulse Mills Ltd. vs. DCIT: 315 ITR 190 (Guj.) held that the liability to pay damages would arise on date of award for damages even if award was challenged by assessee in further appeal, which was pending. Accordingly, the damages were held allowable deduction under section 37(1) of the Act in the year of award. 49. Reliance in this regard is placed on the following decisions wherein i…

Bharti Telemedia Limited, New Delhi vs. DCIT, Circle-4(2), New Delhi

In the result, the appeals of the Assessee are allowed and appeals of the Revenue are dismissed

Bench: Shri C.N. Prasad & Shri M. Balaganesh

…and decree was passed by the Single Judge and, consequently, assessee incurred liability to pay interest and was entitled to deduction under section 37(1) of the Act. 48. The Gujarat High Court in the case of Navjivan Roller Flour & Pulse Mills Ltd. vs. DCIT: 315 ITR 190 (Guj.) held that the liability to pay damages would arise on date of award for damages even if award was challenged by assessee in further appeal, which was pending. Accordingly, the damages were held allowable deduction under section 37(1) of the Act in the year of award. 49. Reliance in this regard is placed on the following decisions wherein i…

DCIT, Circle 4(2), New Delhi vs. Ms Bharti Telemedia Ltd, New Delhi

In the result, the appeals of the Assessee are allowed and appeals of the Revenue are dismissed

Bench: Shri C.N. Prasad & Shri M. Balaganesh

…and decree was passed by the Single Judge and, consequently, assessee incurred liability to pay interest and was entitled to deduction under section 37(1) of the Act. 48. The Gujarat High Court in the case of Navjivan Roller Flour & Pulse Mills Ltd. vs. DCIT: 315 ITR 190 (Guj.) held that the liability to pay damages would arise on date of award for damages even if award was challenged by assessee in further appeal, which was pending. Accordingly, the damages were held allowable deduction under section 37(1) of the Act in the year of award. 49. Reliance in this regard is placed on the following decisions wherein i…

National Agricultural Co-Operative Marketing Federagin of India Ltd vs. Commissioner of Income Tax Delhi XI & Anr

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

…ed counsel also relied upon the cases of R.C.Gupta v. CIT (2008) 298 ITR 161; Bharat Earth Movers v. CIT (2000) 245 ITR 428 (SC); Navjivan Roller Flour and Pulse Mills Ltd. v. DCIT (2009) ITAs No.1096/2008, 1138/2008, & 1146/2008 Page 7 of 15 315 ITR 190 and J.K. Industries Ltd. v. UOI 297 ITR 176. Faslika Electric Supply Co. v. CIT 143 ITR 551 (Delhi) 5. On the other hand, learned counsel for the Revenue submitted that it was only with the passing of award by the appellate authority on 14th September, 1990 that the interest was confirmed. She submitted that even the interest @ 18% from…

National Agricultural Co-Operative Marketing Federation of India Ltd vs. Commissioner of Income Tax Delhi & Anr

…hat the assessee is in appeal before us. 3. The facts, which have been narrated above, are not in dispute. The question that needs to be decided is as to the liability of    315 ITR 190 and *J.K. Industries Ltd. v. UOI* 297 ITR 176. Faslika Electric Supply Co. v. CIT 143 ITR 551 (Delhi) - 5. On the other hand, learned counsel for the Revenue submitted that it was only with the passing of award by the appellate authority on 14th September, 1990 that the interest was confirmed. She submitted that even the interest @ 18% from the…

National Agricultural Co-Operative Marketing Federation of India Ltd vs. Commissioner of Income Tax Delhi XI & Anr

…o award made by the Arbitrators. Learned counsel also relied upon the cases of **R.C.Gupta v. CIT** (2008) 298 ITR 161: Bharat Earth Movers v. CIT (2000) 245 ITR 428 (SC); Navjivan Roller Flour and Pulse Mills Ltd. v. DCIT (2009)  315 ITR 190 and *J.K. Industries Ltd. v. UOI* 297 ITR 176. Faslika Electric Supply Co. v. CIT 143 ITR 551 (Delhi) - 5. On the other hand, learned counsel for the Revenue submitted that it was only with the passing of award by the appellate authority on 14th September, 1990 that the interest was confirmed. She submitted that even the interest @ 18% from the…

National Agricultural Co-Operative Marketing Federagin of India Ltd vs. Commissioner of Income Tax Delhi XI & Anr

…elied upon the cases of R.C.Gupta v. CIT (2008) 298 ITR 161; Bharat Earth Movers v. CIT (2000) 245 ITR 428 (SC); Navjivan Roller Flour and Pulse Mills Ltd. v. DCIT (2009) 2011:DHC:3136-DB ITAs No.1096/2008, 1138/2008, & 1146/2008 Page 7 of 15 315 ITR 190 and J.K. Industries Ltd. v. UOI 297 ITR 176. Faslika Electric Supply Co. v. CIT 143 ITR 551 (Delhi) 5. On the other hand, learned counsel for the Revenue submitted that it was only with the passing of award by the appellate authority on 14th September, 1990 that the interest was confirmed. She submitted that even the interest @ 18% from…