NMDC Ltd. v. ACIT

175 ITD 332Income Tax Appellate Tribunal2019#17072 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2020 to 2021.

Judgments citing NMDC Ltd. v. ACIT

M/S ZEENATH TRANSPORT COMPANY ,BELLARY vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1, BELLARY

In the result, appeal filed by the assessee stands partly allowed as indicated herein above

ITA 1780/BANG/2018[2012-13]Status: DisposedITAT Bangalore18 Aug 2021AY 2012-13

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Siva Prasad Reddy, AdvocateFor Respondent: Ms. Neera Malhotra, CIT (DR)

Section 135Section 37Section 37(1)

…ted that SPV expenses were for socio economic development of the mining area. He further submitted that Ld.AO invoked Explanation 1 to section 37 (1) of Act. 5.2. Ld.AR relied on decision of Hon’ble Hyderabad Tribunal in case of NMDC Ltd. Vs. ACIT reported in 175 ITD 332. Our attention was drawn to paras 9 to 11 of the said order. The Ld.AR pointed out that in Para 10 of order, Hon’ble Hyderabad Tribunal noted that assessee therein was classified as ‘A’ Category mine and in para 11, it was held by the Tribunal that 10% of sale proceeds being SPV in ‘A’ category mine was to be contributed Page 10 of 41 ITA Nos.17…

ASHWATHNARAYANA SINGH AND CO ,BELLRY vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1, BELLARY

In the result appeal is filed by assessee for year under consideration stands allowed

ITA 522/BANG/2019[2013-14]Status: DisposedITAT Bangalore01 Feb 2021AY 2013-14

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2013-14

For Appellant: Shri Laxminiwas Sharma, C.AFor Respondent: Smt. Muzaffar Hussain, CIT (DR)

Section 143(2)Section 37

…SPV expenses are for socio economic development of the mining area. He further submitted that the Ld.AO invoked Explanation to section 37 (1) of Act. 7.5. The Ld.AR relied on decision of Hon’ble Hydrabad Tribunal in case of NMDC Ltd. Vs. ACIT as reported in 175 ITD 332. Our attention was drawn to paras 9 to 11 of the Tribunal’s order. He pointed out that in Para 10 of order, Hon’ble Hydrabad Tribunal noted that assessee therein was classified as ‘A’ Category Mine and in para 11, it is held by the Tribunal that 10% of sale proceeds being SPV in ‘A’ category mine is was to be contributed without which, assessee t…

M/S. VEERABHADRAPPA SANGAPPA & COMPANY,SANDUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1, BELLARY

In the result appeal filed by assessee stands partly allowed

ITA 1054/BANG/2019[2013-14]Status: DisposedITAT Bangalore08 Dec 2020AY 2013-14

Bench: Shri. B. R. Baskaran & Smt. Beena Pillaiassessment Year : 2013–14

For Appellant: Shri Chythanya K.K, AdvocateFor Respondent: Shri Muzaffar Hussain, CIT

Section 145Section 28Section 5

…IT, decision of Hon’ble Calcutta High Court in case of Mundial Export Import Finance (P) Ltd vs CIT reported in (2016) 238 Taxman 34 and decision of coordinate bench of this Tribunal Page 56 of 138 A.Y:2013-14 in case of NMDC Ltd vs ACIT reported in (2019) 175 ITD 332 (HYD-ITAT). B.6. On the contrary, Ld.CIT DR submitted that, sale effected by MC was carried out on behalf of assessee. Admittedly, stock held as undeclared stock in IBM returns by MC has been excavated by assessee from in and around sanctioned lease areas held by it. He submitted that, Hon’ble Supreme Court in case of Samaj Parivartana Samudaya (…

M/S. RAMGAD MINERALS & MINING LIMITED,HOSPET vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1, BELLARY

In the result appeal filed by assessee for A

ITA 1271/BANG/2019[2014-15]Status: DisposedITAT Bangalore04 Nov 2020AY 2014-15

Bench: Shri A. K. Garodia & Smt. Beena Pillai

For Appellant: Shree Vijay Mehta, C. AFor Respondent: Shree Muzaffar Hussain, CIT DR

Section 115Section 115JSection 37(1)Section 80I

…ed that SPV expenses is for socio economic development of the mining area. He further submitted that Ld.AO invoked Explanation 1 to section 37 (1) of Act. 7.5. Ld.AR relied on decision of Hon’ble Hyderabad Tribunal in case of NMDC Ltd. Vs. ACIT as reported in 175 ITD 332. Our attention was drawn to paras 9 to 11 of this Tribunal’s ITA No. 212 & 589/Bang/2020 Asst.Yrs:2013-14 &2014-15 Page 9 of 33 order. He pointed out that in Para 10 of order, Hon’ble Hyderabad Tribunal noted that assessee therein was classified as ‘A’ Category Mine and in para 11, it is held by the Tribunal that 10% of sale proceeds being SPV…

M/S. RAMGAD MINERALS AND MINING LIMITED,HOSPET vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1, BELLARY

In the result appeal filed by assessee for A

ITA 1270/BANG/2019[2013-14]Status: DisposedITAT Bangalore04 Nov 2020AY 2013-14

Bench: Shri A. K. Garodia & Smt. Beena Pillai

For Appellant: Shree Vijay Mehta, C. AFor Respondent: Shree Muzaffar Hussain, CIT DR

Section 115Section 115JSection 37(1)Section 80I