Oil & Natural Gas Corprn. Ltd. v. CIT, Dehradun

189 Taxmann 292Supreme Court of India2010#6397 most cited
18

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2025.

Sections most often in play

Section 10(15)Section 10(34)Section 10(35)Section 10B(2)(b)Section 145Section 14ASection 23(1)(a)Section 32(1)

Issues it is cited on

software technology parksection 43ainterest free advancesput to usesection 36(1)(viia)mercantile system of accountingdisallowance of interest expendituredisallowance under section 14aicdssection 36(1)(iii)rule of consistencysection 40(a)(i)

Judgments citing Oil & Natural Gas Corprn. Ltd. v. CIT, Dehradun

DCIT 2(3)(2), MUMBAI vs. ICICI BANK LTD, MUMBAI

In the result, ground no. 3 of appeal of

ITA 1550/MUM/2016[2009-10]Status: DisposedITAT Mumbai21 Nov 2025AY 2009-10

Bench: Shri Pawan Singh & Shri Girish Agrawal(Physical Hearing) Icici Bank Limited, Dcit, 2(3)(2), Mumbai, Icici Bank Towers, North East Wing, Vs Aayakarbhavan, 1St Floor, Bandrakurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [Pan No. Aaaci1195H] Appellant / Assessee Respondent / Revenue (Physical Hearing) Dcit, 2(3)(2), Mumbai, Icici Bank Limited Aayakar Bhavan, Vs Icici Bank Towers, North East Wing, 1St Floor, Bandrakurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [Pan No. Aaaci1195H] Appellant / Assessee Respondent / Revenue

Section 10(15)Section 14ASection 254(1)Section 92CSection 92C(3)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER & SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER (Physical hearing) ICICI Bank Limited, DCIT, 2(3)(2), Mumbai, ICICI Bank Towers, North East Wing, Vs AayakarBhavan, 1st Floor, BandraKurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [PAN No. AAACI1195H] Appellant / Assessee Respondent / Revenue (Physical hearing) DCIT, 2(3)(2), Mumbai, ICICI Bank Limited Aayakar Bhavan, Vs ICICI Bank Towers, North East Wing, 1st Floor, BandraKurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [PAN No. AAACI1195H] App…

ICICI BANK LTD,MUMBAI vs. DCIT 2(3)(2), MUMBAI

In the result, ground no. 3 of appeal of

ITA 4418/MUM/2015[2009-10]Status: DisposedITAT Mumbai21 Nov 2025AY 2009-10

Bench: Shri Pawan Singh & Shri Girish Agrawal(Physical Hearing) Icici Bank Limited, Dcit, 2(3)(2), Mumbai, Icici Bank Towers, North East Wing, Vs Aayakarbhavan, 1St Floor, Bandrakurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [Pan No. Aaaci1195H] Appellant / Assessee Respondent / Revenue (Physical Hearing) Dcit, 2(3)(2), Mumbai, Icici Bank Limited Aayakar Bhavan, Vs Icici Bank Towers, North East Wing, 1St Floor, Bandrakurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [Pan No. Aaaci1195H] Appellant / Assessee Respondent / Revenue

Section 10(15)Section 14ASection 254(1)Section 92CSection 92C(3)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER & SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER (Physical hearing) ICICI Bank Limited, DCIT, 2(3)(2), Mumbai, ICICI Bank Towers, North East Wing, Vs AayakarBhavan, 1st Floor, BandraKurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [PAN No. AAACI1195H] Appellant / Assessee Respondent / Revenue (Physical hearing) DCIT, 2(3)(2), Mumbai, ICICI Bank Limited Aayakar Bhavan, Vs ICICI Bank Towers, North East Wing, 1st Floor, BandraKurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [PAN No. AAACI1195H] App…

PRAGATI POWER CORPORATION LTD,NEW DELHI vs. ACIT, CIRCLE 20(1), NEW DELHI

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

ITA 1617/DEL/2023[2018-19]Status: DisposedITAT Delhi14 Aug 2024AY 2018-19

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

Section 115JSection 145(2)Section 32Section 36Section 36(1)(iii)Section 37Section 43ASection 46ASection 80I

…ia is required to be added to the cost of asset. vii) It is submitted that unrealized foreign exchange losses are allowable as revenue expenditure even u/s 37(1) of the Act. Hon'ble Supreme Court in the case of Oil & Natural Gas Corporation Ltd. vs CIT (2010) 189 Taxmann 292 held that loss suffered by the assessee, maintaining accounts regularly on mercantile system and following accounting standards prescribed by ICAI, on account of fluctuation in rate of foreign exchange is an item of expenditure u/s 37(1), notwithstanding that liability has not been discharged in the year in which fluctuation in rate of foreig…

PTC INDIA FINANCIAL SERVICES LTD,NEW DELHI vs. DCIT, CIRCLE- 19(1) & (2), NEW DELHI

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

ITA 5051/DEL/2017[2012-13]Status: DisposedITAT Delhi09 May 2023AY 2012-13
For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Shri T. Kipgen, CIT DR
Section 143(1)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘F’ : NEW DELHI) SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER and SHRI ANUBHAV SHARMA, JUDICIAL MEMBER ITA No.4985/Del./2017 (ASSESSMENT YEAR : 2012-13) DCIT, Circle 19(1) & (2), vs. PTC India Financial Services Ltd., 2nd Floor, NBCC Tower, New Delhi. 15, Bhikaji Cama Place, New Delhi – 110 066. (PAN : AAECP0501C) ITA No.5051/Del./2017 (ASSESSMENT YEAR : 2012-13) PTC India Financial Services Ltd., vs. DCIT, Circle 19(1) & (2), 2nd Floor, NBCC Tower, New Delhi. 15, Bhikaji Cama Place, New Delhi – 110 066. (PAN : AAECP0501C) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri Salil…

M/S. PTC INDIA FINANCIAL SERVICES LTD.,NEW DELHI vs. ACIT, NEW DELHI

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

ITA 4985/DEL/2017[2012-13]Status: DisposedITAT Delhi09 May 2023AY 2012-13
For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Shri T. Kipgen, CIT DR
Section 143(1)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘F’ : NEW DELHI) SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER and SHRI ANUBHAV SHARMA, JUDICIAL MEMBER ITA No.4985/Del./2017 (ASSESSMENT YEAR : 2012-13) DCIT, Circle 19(1) & (2), vs. PTC India Financial Services Ltd., 2nd Floor, NBCC Tower, New Delhi. 15, Bhikaji Cama Place, New Delhi – 110 066. (PAN : AAECP0501C) ITA No.5051/Del./2017 (ASSESSMENT YEAR : 2012-13) PTC India Financial Services Ltd., vs. DCIT, Circle 19(1) & (2), 2nd Floor, NBCC Tower, New Delhi. 15, Bhikaji Cama Place, New Delhi – 110 066. (PAN : AAECP0501C) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri Salil…

LENOVO (INDIA) PRIVATE LIMITED,BANGALORE vs. INCOME TAX OFFICER WARD- 4(1)(1), BANGALORE

In the result, the appeal of the assessee is partly allowed for above terms

ITA 281/BANG/2021[2016-17]Status: DisposedITAT Bangalore24 Mar 2023AY 2016-17

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu

For Appellant: Shri Padam Chand Kincha, C.AFor Respondent: Shri Sankar K Ganeshan, CIT (D.R)
Section 143(3)Section 144C(13)Section 144C(5)Section 92CSection 92C(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A’’BENCH: BANGALORE BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER IT(TP)A No.281/Bang/2021 Assessment Year: 2016-17 M/s Lenovo (India) Pvt. Ltd., The Income-tax Officer, Ferns Icon, Level 2, Ward-4(1)(1), Doddanakundi Village, Bangalore. Marathalli Outer Ring Road, Vs. Marathahalli Post, K.R Puram, Hobli, Bangalore – 560 037. PAN: AABCI 3372 H APPELLANT RESPONDENT Appellant by : Shri Padam Chand Kincha, C.A Respondent by : Shri Sankar K Ganeshan, CIT (D.R) Date of Hearing : 05.01.2023 Date of Pronouncement : .03.2023 O R D E R…

M/S REGENCY PROPERTY INVESTMENTS PVT LTD.,MUMBAI vs. ITO WARD 3 (3)(4), MUMBAI

In the result, appeal filed by the assessee is partly allowed

ITA 7972/MUM/2019[2013-14]Status: DisposedITAT Mumbai28 Apr 2022AY 2013-14

Bench: Shri Amarjit Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

For Appellant: Shri Satish ModyFor Respondent: Shri Ganesh Bare

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ITA NO. 7181 /MUM/2019 (A.Y: 2014-15) M/s. Regency Property Investment Pvt. Ltd., v. DCIT – 3(3)(1) 77, 7th Floor, Nariman Bhavan Room No. 609, 6th Floor 227, Nariman Point, Mumbai - 4000021 Aayakar Bhavan, M.K. Road Mumbai - 400020 PAN: AACCR7727A (Appellant) (Respondent) M/s. Regency Property Investment Pvt. Ltd., v. Income Tax Officer – 3(3)(4) 77, 7th Floor, Nariman Bhavan Room No. 672, 6th Floor 227, Nariman Point, Mumbai - 4000021 Aayakar Bhavan, M.…

TANGLIN DEVELOPMENTS LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

In the result, assessee’s appeals are allowed

ITA 146/BANG/2021[2017-18]Status: DisposedITAT Bangalore31 Jan 2022AY 2017-18

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri C Ramesh, C.AFor Respondent: Shri Jairam Raipura, CIT(DR OSD)
Section 43A

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA No.143 to 146/Bang/2021 Assessment year : 2013-14, 2014-15, 2015-16 & 2017-18 M/s Tanglin Developments Ltd., Vs. The Dy. Commissioner of Income- No.23/2, Coffeeday Square, tax, Vittal Mallya Road, Central Circle-1(3), Bengaluru. Bengaluru-560 001. PAN –AABCT 0356 N ASSESSEE RESPONDENT Assesseeby : Shri C Ramesh, C.A Revenue by : Shri Jairam Raipura, CIT(DR OSD) Date of hearing : 30.12.2021 Date of Pronouncement : 31.01.2022 O R D E R Per Bench These4 appe…

TANGLIN DEVELOPMENTS LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

In the result, assessee’s appeals are allowed

ITA 145/BANG/2021[2015-16]Status: DisposedITAT Bangalore31 Jan 2022AY 2015-16

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri C Ramesh, C.AFor Respondent: Shri Jairam Raipura, CIT(DR OSD)
Section 43A

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA No.143 to 146/Bang/2021 Assessment year : 2013-14, 2014-15, 2015-16 & 2017-18 M/s Tanglin Developments Ltd., Vs. The Dy. Commissioner of Income- No.23/2, Coffeeday Square, tax, Vittal Mallya Road, Central Circle-1(3), Bengaluru. Bengaluru-560 001. PAN –AABCT 0356 N ASSESSEE RESPONDENT Assesseeby : Shri C Ramesh, C.A Revenue by : Shri Jairam Raipura, CIT(DR OSD) Date of hearing : 30.12.2021 Date of Pronouncement : 31.01.2022 O R D E R Per Bench These4 appe…

TANGLIN DEVELOPMENTS LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

In the result, assessee’s appeals are allowed

ITA 144/BANG/2021[2014-15]Status: DisposedITAT Bangalore31 Jan 2022AY 2014-15

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri C Ramesh, C.AFor Respondent: Shri Jairam Raipura, CIT(DR OSD)
Section 43A

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA No.143 to 146/Bang/2021 Assessment year : 2013-14, 2014-15, 2015-16 & 2017-18 M/s Tanglin Developments Ltd., Vs. The Dy. Commissioner of Income- No.23/2, Coffeeday Square, tax, Vittal Mallya Road, Central Circle-1(3), Bengaluru. Bengaluru-560 001. PAN –AABCT 0356 N ASSESSEE RESPONDENT Assesseeby : Shri C Ramesh, C.A Revenue by : Shri Jairam Raipura, CIT(DR OSD) Date of hearing : 30.12.2021 Date of Pronouncement : 31.01.2022 O R D E R Per Bench These4 appe…

TANGLIN DEVELOPMENTS LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

In the result, assessee’s appeals are allowed

ITA 143/BANG/2021[2013-14]Status: DisposedITAT Bangalore31 Jan 2022AY 2013-14

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri C Ramesh, C.AFor Respondent: Shri Jairam Raipura, CIT(DR OSD)
Section 43A

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA No.143 to 146/Bang/2021 Assessment year : 2013-14, 2014-15, 2015-16 & 2017-18 M/s Tanglin Developments Ltd., Vs. The Dy. Commissioner of Income- No.23/2, Coffeeday Square, tax, Vittal Mallya Road, Central Circle-1(3), Bengaluru. Bengaluru-560 001. PAN –AABCT 0356 N ASSESSEE RESPONDENT Assesseeby : Shri C Ramesh, C.A Revenue by : Shri Jairam Raipura, CIT(DR OSD) Date of hearing : 30.12.2021 Date of Pronouncement : 31.01.2022 O R D E R Per Bench These4 appe…

SOMA TECH PVT. LTD.,SURAT vs. PR. CIT-2, SURAT

In the result, appeal of the assessee is dismissed

ITA 344/SRT/2018[2013-14]Status: DisposedITAT Surat07 Jun 2021AY 2013-14

Bench: Shri Pawan Singh, Hon'Ble & Dr. Shri Arjun Lal Saini, Hon'Ble(Virtual Hearing) आ.अ.सं./I.T.A No.344/Srt/2018 "नधा"रण वष"/Assessment Year: 2013-14 Soma Tech Pvt. Ltd., Vs. The Principal 301, Soham House, Commissioner Of Income Opp. St. Xavier’S School, Tax-2, Surat. Ghod Dod Road, Surat. [Pan: Aakcs 5265 N] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओर से /Assessee By Shri Hiren Vepari – Ca राज"वक"ओर से /Revenue By Shri Ritesh Mishra – Cit-Dr

Section 143Section 143(2)Section 143(3)Section 263

…आयकर अपील"य अ"धकरण, सुरत "यायपीठ, सुरत INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, Hon'ble JUDICIAL MEMBER AND Dr. SHRI ARJUN LAL SAINI, Hon'ble ACCOUNTANT MEMBER (Virtual Hearing) आ.अ.सं./I.T.A No.344/SRT/2018 "नधा"रण वष"/Assessment Year: 2013-14 Soma Tech Pvt. Ltd., Vs. The Principal 301, Soham House, Commissioner of Income Opp. St. Xavier’s School, Tax-2, Surat. Ghod Dod Road, Surat. [PAN: AAKCS 5265 N] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओर से /Assessee by Shri Hiren Vepari – CA राज"वक"ओर से /Revenue by Shri Ritesh Mishra – CIT-DR सुनवाई की तारीख/ Date of hearing: 17.…

M/S TANGLIN DEVELOPEMENT LTD ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE

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

ITA 1527/BANG/2018[2013-14]Status: DisposedITAT Bangalore29 Jun 2020AY 2013-14

Bench: Shri N.V.Vasudevan & Shri B.R.Baskaranita No.1527(Bang)/2018 (Assessment Year : 2013-14) M/S Tanglin Developments Ltd., No.23/2, Coffee Day Square, Vittal Mallya Road, Bangalore-560 001 Panno.Aabct0356N Appellant Vs The Deputy Commissioner Of Income Tax, Circle-1(3), Cr Buildings, Queen’S Road, Bangalore Respondent Appellant By :Shri C. Ramesh, Ca Revenue By : Shri Muzaffar Hussain, Cit

For Appellant: Shri C. Ramesh, CAFor Respondent: Shri Muzaffar Hussain, CIT
Section 115JSection 143(3)Section 14ASection 263

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES : “B”, BANGALORE BEFORE SHRI N.V.VASUDEVAN,VICE PRESIDENT AND SHRI B.R.BASKARAN, ACCOUNTANT MEMBER ITA No.1527(Bang)/2018 (Assessment Year : 2013-14) M/s Tanglin Developments Ltd., No.23/2, Coffee day Square, Vittal Mallya Road, Bangalore-560 001 PANNo.AABCT0356N Appellant Vs The Deputy Commissioner of Income Tax, Circle-1(3), CR Buildings, Queen’s Road, Bangalore Respondent Appellant by :Shri C. Ramesh, CA Revenue by : Shri Muzaffar Hussain, CIT Date of hearing : 24-06-2020 Date of pronouncement : 29-06-2020 O R D E R PER B.R.BASKARAN, AM The assesse…

DCIT, NEW DELHI vs. M/S. QUIPPO OIL & GAS INFRA LTD., NEW DELHI

Appeal of the revenue is dismissed

ITA 5710/DEL/2014[2008-09]Status: DisposedITAT Delhi03 Apr 2019AY 2008-09

Bench: Shri R. K. Panda & Ms Suchitra Kamblequippo Oil & Gas Infra Ltd. Vs The Additional D-2, 5Th Floor, Southern Park, Commissioner Of Income Saket Place Tax, New Delhi Aaacq1278P Range-14 New Delhi (Appellant) (Respondent) Dcit Vs Quippo Oil & Gas Infra Ltd. Circle-14(1) D-2, 5Th Floor, Southern New Delhi Park, Saket Place New Delhi Aaacq1278P (Appellant) (Respondent)

Section 115JSection 143(3)Section 37Section 43B

…(P) Ltd. (2009) 309 ITR 265 (Delhi) wherein it was held that loss due to foreign exchange rate fluctuation in respect of imported machinery is allowable expenditure. The Ld. AR also relied upon the decision of Hon'ble Apex Court in case of ONGC vs. CIT (2010) 189 Taxmann 292 (SC) wherein it was held that when assessee maintained its accounts on mercantile system of accounting, there was no finding by Assessing Officer on correctness or completeness of account and assessee had complied with Accounting Standards laid down by Central Government, 'loss' suffered by assessee on account of fluctuation in rate of foreig…

M/S. QUIPPO OIL & GAS INFRASTRUCTURE LTD.,GURGAON vs. ADDL.CIT, NEW DELHI

Appeal of the revenue is dismissed

ITA 5634/DEL/2014[2008-09]Status: DisposedITAT Delhi03 Apr 2019AY 2008-09

Bench: Shri R. K. Panda & Ms Suchitra Kamblequippo Oil & Gas Infra Ltd. Vs The Additional D-2, 5Th Floor, Southern Park, Commissioner Of Income Saket Place Tax, New Delhi Aaacq1278P Range-14 New Delhi (Appellant) (Respondent) Dcit Vs Quippo Oil & Gas Infra Ltd. Circle-14(1) D-2, 5Th Floor, Southern New Delhi Park, Saket Place New Delhi Aaacq1278P (Appellant) (Respondent)

Section 115JSection 143(3)Section 37Section 43B

…(P) Ltd. (2009) 309 ITR 265 (Delhi) wherein it was held that loss due to foreign exchange rate fluctuation in respect of imported machinery is allowable expenditure. The Ld. AR also relied upon the decision of Hon'ble Apex Court in case of ONGC vs. CIT (2010) 189 Taxmann 292 (SC) wherein it was held that when assessee maintained its accounts on mercantile system of accounting, there was no finding by Assessing Officer on correctness or completeness of account and assessee had complied with Accounting Standards laid down by Central Government, 'loss' suffered by assessee on account of fluctuation in rate of foreig…

GUJARAT CHEMICAL PORT TERMINAL CO.LTD.,,BARODA vs. THE ACIT.,CIRCLE-1(1),, BARODA

ITA 3077/AHD/2011[2004-05]Status: DisposedITAT Ahmedabad13 Nov 2017AY 2004-05

Bench: Shri Pramod Kumar & Shri S. S. Godara.

For Appellant: Shri Milin Mehta, A.RFor Respondent: Vasundhara Upmanyu, CIT. D.R
Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH AHMEDABAD BEFORE SHRI PRAMOD KUMAR, ACCOUNTANT MEMBER, AND SHRI S. S. GODARA, JUDICIAL MEMBER. ITA No. 3077 to 3079/Ahd/2011 (Assessment Years: 2004-05 & 2006-07) Gujarat Chemical Port Terminal Co. Ltd., 2nd Floor, Gujan Tower, Off Alembic, Gorwa Road, Baroda-23 Appellant Vs. Asst. Commissioner of Income-tax, Circle 1(1), Aayakar Bhavan, Race Course, Vadodara - 07 Respondent & ITA No. 3115 to 3120/Ahd/2011 (Assessment Years: 2002-03 to 2006-07 ) The DCIT, Cir.1(1), Baroda Appellant Vs. Gujarat Chemical Port Terminal Co. Ltd., Materials Bhavan,…

RELIANCE INFRASTRUCTURE LTD,MUMBAI vs. ADDL CIT RG 10(1) NOW DCIT CIR 14(3)(1), MUMBAI

In the result, the appeal of the Revenue is dismissed and that of the assessee is allowed for statistical purposes

ITA 1480/MUM/2015[2010-11]Status: DisposedITAT Mumbai02 Jun 2017AY 2010-11

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Dy. Commissioner Of Income Tax M/S Reliance Infrastructure 14(3)(1), 453, 4Th Floor, Aayakar Ltd. Bhavan, Mumbai-20 Reliance Energy Centre Vs. Santacruz East, Mumbai- 400055 Pan No. Aaccr7445Q Appellant .. Respondent M/S Reliance Infrastructure Ltd. Dy. Commissioner Of Income Tax Reliance Energy Centre 14(3)(1), 453, 4Th Floor, Aayakar Santacruz East, Mumbai- Vs. Bhavan, Mumbai-20 400055 Pan No. Aaccr7445Q Appellant .. Respondent

Section 143(3)

…/- only revenue foreign exchange loss of Rs.66,23,70,735/- is allowed. This is supported by the view of Supreme Court decision in the case of Woodward Governor India Pvt. Ltd. 294 ITR 451, Reliance Industries Ltd. vs. CIT 40 Taxmann.com 431, ONGC Ltd. vs. CIT 189 Taxmann 292 (SC). In view of the above Supreme Court decisions, revenue loss of Rs.66,23,70,735/- is allowed and Rs.24,31,73,110/- is confirmed. This ground of appeal is partly allowed." M/s Reliance Infrastructure Ltd. Aggrieved, now Revenue is in appeal before us. 15. We have heard the rival contentions and gone through the facts and circumstances of…

DCIT 14(3)(1), MUMBAI vs. RELIANCE INFRSTRUCTURE LTD, MUMBAI

In the result, the appeal of the Revenue is dismissed and that of the assessee is allowed for statistical purposes

ITA 1422/MUM/2015[2010-11]Status: DisposedITAT Mumbai02 Jun 2017AY 2010-11

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Dy. Commissioner Of Income Tax M/S Reliance Infrastructure 14(3)(1), 453, 4Th Floor, Aayakar Ltd. Bhavan, Mumbai-20 Reliance Energy Centre Vs. Santacruz East, Mumbai- 400055 Pan No. Aaccr7445Q Appellant .. Respondent M/S Reliance Infrastructure Ltd. Dy. Commissioner Of Income Tax Reliance Energy Centre 14(3)(1), 453, 4Th Floor, Aayakar Santacruz East, Mumbai- Vs. Bhavan, Mumbai-20 400055 Pan No. Aaccr7445Q Appellant .. Respondent

Section 143(3)

…/- only revenue foreign exchange loss of Rs.66,23,70,735/- is allowed. This is supported by the view of Supreme Court decision in the case of Woodward Governor India Pvt. Ltd. 294 ITR 451, Reliance Industries Ltd. vs. CIT 40 Taxmann.com 431, ONGC Ltd. vs. CIT 189 Taxmann 292 (SC). In view of the above Supreme Court decisions, revenue loss of Rs.66,23,70,735/- is allowed and Rs.24,31,73,110/- is confirmed. This ground of appeal is partly allowed." M/s Reliance Infrastructure Ltd. Aggrieved, now Revenue is in appeal before us. 15. We have heard the rival contentions and gone through the facts and circumstances of…