Pandian Chemicals Ltd. v. CIT

262 ITR 278Supreme Court of India2003#217 most cited

What is Pandian Chemicals Ltd. v. CIT authority for?

Income eligible for deduction under Section 80IA or 80IC must have a direct nexus with the eligible business activity of the industrial undertaking. Income merely incidental to the business, even if part of the assessee's overall business, is not considered "derived from" the eligible undertaking.

353

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2007 to 2026.

Also referred to as

Pandian Chemicals Ltd. v. CIT · 262 ITR 278 · Section 80IA deduction · Section 80IC deduction · income derived from · direct nexus · incidental income · eligible business activity · profits derived from industrial undertaking · statutory interpretation

Also reported as

129 Taxmann 539

Sections most often in play

Section 1961Section 143(3)Section 250Section 148Section 115JBSection 147Section 14ASection 263

Issues it is cited on

section 274(2)casus omissussection 80hinitial assessment yearsection 80hheligible businesssection 144badeduction under section 80iasection 80hhcsection 144asection 158bcsection 80ib

Judgments citing Pandian Chemicals Ltd. v. CIT

M/S Optek Disc Mfg Co., Baddi vs. DCIT, Circle, Parwanoo

In the result, the appeal of the assessee is allowed

ITA 179/CHANDI/2018[2010-11]Status: DisposedITAT Chandigarh26 Nov 2018AY 2010-11
For Appellant: Shri Arsh KaushalFor Respondent: Shri Manjit Singh, Sr.DR
Section 143(3)Section 271Section 271(1)(c)Section 80I

…u/s 143(3) and hence there cannot be a different view on the above subject during the current year. 5. The assessee's reply, we note was not accepted considering the position of law as laid down by the Court in the case of Pandian Chemicals Ltd. Vs CIT (2003) 262 ITR 278, Cambay Electric Supply Industrial Co. Ltd. V CIT (1978) 113 ITR 84 (S.C) and CIT Vs Raja Bahadur Kamakhaya Narain Singh (1948) 16 ITR 325. Apart from that it was also noticed that the assessee has given as security FDR worth Rs. 2 lacs to the Sales Tax authorities as reflected in the balance sheet. The AO made the addition of Rs. 20,000/- estima…

Divya Creation, Noida vs. Pr.CIT, Noida

In the result, the appeal of the assessee is allowed

ITA 2715/DEL/2018[2013-14]Status: DisposedITAT Delhi20 Nov 2018AY 2013-14

Bench: Shri Amit Shukla & Shri O.P. Kantassessment Year: 2013-14 M/S. Divya Creation, Vs. Pr. Cit, Plot No. 97, Nsez, Noida Aayakar Bhawan, A2 D- Block, Sector 24, Noida Pan :Aadfd4879K (Appellant) (Respondent)

Section 10ASection 115JSection 143(3)Section 195Section 263Section 40

…ed from eligible business of the assessee (software development) for the purpose of claiming deduction under Section 10A of the Income Tax Act, 1961?” 14. The Hon’ble High Court considered the decisions in the case of Pandian Chemicals Ltd. versus CIT (2003) 262 ITR 278 (SC) with reference to section 80HH, Liberty India versus CIT (2009) 317 ITR 218 (SC) with reference to section 8IB, CIT versus Sterling Food (1999) 237 ITR 579 (SC) with reference to section 80HH. The Hon’ble High Court distinguished the above decisions in view of the decision of the Hon’ble Delhi High Court in the case of Riviera Home Furnishin…

The Commissioner of Income-Tax vs. M/S Acer India Pvt Ltd

The appeal is disposed off

ITA/236/2011HC Karnataka19 Nov 2018

Bench: The Hon'Ble Mr. Justice Ravi Malimath

Section 260Section 80I

…est income of Rs.25,83,813/- has to be included in the eligible profits for computing deduction u/s.80IB of the Act when the interest income was not derived from the eligible business, 4 contrary to the decision of the Apex Court in 262 ITR 278 & 317 ITR 218?” 3. It is submitted that the first and second substantial questions of law are covered by the judgment of this Court in the case of COMMISSIONER OF INCOME-TAX AND ANOTHER vs. M/s. ACER INDIA PVT. LTD., in ITA No.394 of 2009, disposed off on 25.06.2018. Following the said judgment, the first and second substantial question…

ACIT Circle-3(1), Visakhapatnam vs. Dredging Corporation of India Limited, Visakhapatnam

In the result, the appeals of the assessee as well as the revenue are dismissed

ITA 464/VIZ/2017[2012-13]Status: DisposedITAT Visakhapatnam05 Oct 2018AY 2012-13

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.437/Viz/2017 (धििाारण िर्ा/ Assessment Year: 2012-2013) M/S Dredging Corporation Vs. Dcit Of India Ltd. Circle-3(1) Dredge House, Port Area Visakhapatnam Visakhapatnam [Pan : Aaacd6021B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.464/Viz/2017 (धििाारण िर्ा/ Assessment Year: 2012-2013) Acit Vs. M/S Dredging Corporation Circle-3(1) Of India Ltd. Visakhapatnam Dredge House, Port Area Visakhapatnam [Pan : Aaacd6021B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩिती की ओि से/ Assessee By : Shri G.V.N.Hari, Ar िधजस्व की ओि से/ Revenue By : Shri Deba Kumar Sonowal, Dr सुिवधई की तधिीख / Date Of Hearing : 26.09.2018 05.10.2018 घोषणध की तधिीख/Date Of Pronouncement :

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri Deba Kumar Sonowal, DR
Section 115VSection 5

…ctivity. The Ld.CIT(A) followed the order of this Tribunal in assessee’s own case for the assessment year 2006-07 to 2008-09 supra. The Ld.CIT(A) also applied the ratio of the decision of Hon’ble Apex Court in the case of Pandian Chemicals Ltd. Vs. CIT(2003) (262 ITR 278). 26. Against the order of theLd.CIT(A), the revenue has filed appeal before this Tribunal. 27. We have heard both the parties and perused the material placed on record. The issue is squarely covered against the revenue in the assessee’s own case for the assessment year 2009-10 to 2011-12 in I.T.A. Nos.555/Viz/2013, 602/Viz/2013, 78-80/Viz/2014…

Dredging Corporation of India Ltd, Visakhapatnam vs. DCIT, Circle -3(1), Visakhapatnam

In the result, the appeals of the assessee as well as the revenue are dismissed

ITA 437/VIZ/2017[2012-2013]Status: DisposedITAT Visakhapatnam05 Oct 2018AY 2012-2013

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.437/Viz/2017 (धििाारण िर्ा/ Assessment Year: 2012-2013) M/S Dredging Corporation Vs. Dcit Of India Ltd. Circle-3(1) Dredge House, Port Area Visakhapatnam Visakhapatnam [Pan : Aaacd6021B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.464/Viz/2017 (धििाारण िर्ा/ Assessment Year: 2012-2013) Acit Vs. M/S Dredging Corporation Circle-3(1) Of India Ltd. Visakhapatnam Dredge House, Port Area Visakhapatnam [Pan : Aaacd6021B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩिती की ओि से/ Assessee By : Shri G.V.N.Hari, Ar िधजस्व की ओि से/ Revenue By : Shri Deba Kumar Sonowal, Dr सुिवधई की तधिीख / Date Of Hearing : 26.09.2018 05.10.2018 घोषणध की तधिीख/Date Of Pronouncement :

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri Deba Kumar Sonowal, DR
Section 115VSection 5

…ctivity. The Ld.CIT(A) followed the order of this Tribunal in assessee’s own case for the assessment year 2006-07 to 2008-09 supra. The Ld.CIT(A) also applied the ratio of the decision of Hon’ble Apex Court in the case of Pandian Chemicals Ltd. Vs. CIT(2003) (262 ITR 278). 26. Against the order of theLd.CIT(A), the revenue has filed appeal before this Tribunal. 27. We have heard both the parties and perused the material placed on record. The issue is squarely covered against the revenue in the assessee’s own case for the assessment year 2009-10 to 2011-12 in I.T.A. Nos.555/Viz/2013, 602/Viz/2013, 78-80/Viz/2014…

DCIT, New Delhi vs. M/S. Om Nanotech Pvt. Ltd., New Delhi

In the result, the appeal of the Revenue stands dismissed

ITA 5716/DEL/2014[2010-11]Status: DisposedITAT Delhi24 Sept 2018AY 2010-11

Bench: Shri Amit Shukla & Shri L.P. Sahuasstt. Year: 2010-11

For Appellant: Shri Ajay Baheti, CAFor Respondent: Shri S.R. Senapati, Sr. DR
Section 10ASection 143(3)Section 2Section 4Section 51

…tly derived from the manufacturing activities of eligible undertaking is entitled for deduction u/s 10AA. In support he relied to the decision of Hon’ble Supreme court in the case of CIT vs. Sterling Foods (199) 237 ITR 579; and CIT vs. Pandian Chemicals Ltd. 262 ITR 278 (SC). Thereafter he denied the deduction u/s 10AA to the extent of Rs. 7,55,84,115/- as per the computation given at page 8 of the assessment order. 3. Before the Ld. CIT(A), assessee submitted that the word “services”” has not been defined u/s 10AA and therefore, definition of the word “services” will have to be seen from SEZ Act which was also…

M/S Jila Sahakari Kendriya Bank Maryadit, Mandsaur vs. The DCIT, Ratlam

In the result Ground No.1 & 2 raised by the

ITA 386/IND/2017[2012-13]Status: DisposedITAT Indore17 Aug 2018AY 2012-13

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2012-13 Jila Sahakari Kendriya Dcit, Ratlam Bank Maryadit, Vs. Mhow-Neemuch Road, Mandsaur (M.P) (Appellant) (Respondent ) Pan No.Aaatj2383F Revenue By Shri Lalchand, Cit Assessee By Shri S.S. Deshpande,Ca Date Of Hearing 25.7.2018 Date Of 17.8.2018 Pronouncement

Section 143(3)Section 36(1)(viia)Section 36(1)(viii)

…Jila Sahakari Kendriya Bank Maryadit आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER Assessment Year: 2012-13 Jila Sahakari Kendriya DCIT, Ratlam Bank Maryadit, Vs. Mhow-Neemuch Road, Mandsaur (M.P) (Appellant) (Respondent ) PAN No.AAATJ2383F Revenue by Shri Lalchand, CIT Assessee by Shri S.S. Deshpande,CA Date of Hearing 25.7.2018 Date of 17.8.2018 Pronouncement O R D E R PER MANISH BORAD, AM. This appeal filed by the assessee pertaining to the A.Y. 2012- 13 is directed again…

M/S Nanda Nagar Sahkari Sakh Santha, Indore vs. The ITO 3(3), Indore

In the result, the appeal filed by the assessee is

ITA 1054/IND/2016[2006-07]Status: DisposedITAT Indore03 Aug 2018AY 2006-07

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2006-07 M/S Nanda Nagar Ito-3(3) Sahkari Sakh Sanstha Range-3 बनाम/ C/O M. Mehta & Co., Indore Vs. 11/5, South Tukoganj, Indore (Appellant) (Revenue ) P.A. No.Aaaan1784B

Section 143(3)Section 6Section 80P(2)(a)

…eld that if the wordings of the section are clear then benefits, which are not available under the section, cannot be conferred by ignoring or misinterpreting words in the section. The Ld. DR further submitted that in the case of Pandian Chemicals Ltd. v. CIT 262 ITR 278 (SC) it has been held that the rules of interpretation would come into play only if there is any doubt with regard to the express language used. Where the words are unequivocal, there is no scope for importing any rule of interpretation. He submitted that Hon'ble Supreme Court in the case of CIT vs. N.C. Budharaja & Co. 204 ITR 412 (SC), it has h…

Maharashtra Airport Development, Mumbai vs. Pr CIT 3, Mumbai

The appeal of the assessee is allowed

ITA 3741/MUM/2016[2011-12]Status: DisposedITAT Mumbai18 Jul 2018AY 2011-12

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2011-12 M/S Maharashtra Airport Pr. Cit-3, Development Company 612, 6Th Floor, बनाम/ Ltd. Aayakar Bhavan, Vs. 8Th Floor, World Trade M. K. Road, Centre, Tower No.1, Mumbai-400020 Cuffe Parade, Mumbai-400005 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aadcm9623M

Section 148Section 154Section 263Section 80I

…nit and taxed separately. In compliance, the Ld. Assessing Officer duly considered the reply of the assessee dated 27/01/2014 and the submission made therein. The Ld. Assessing Officer also considered the decision in the case of CIT vs Panian Chemicals Ltd. (262 ITR 278) (Supreme Court) with respect to the word ‘derived from’ Short term deposits made out of the funds available for the business of the assessee and 71 Maharashtra Airport Development Company Ltd. also from the advances given also the eligibility of claimed deduction under section 80IAB of the Act. Discussion has also been made about rent from bui…

Sulphur Mills Ltd, Mumbai vs. Addl CIT RG 8(3), Mumbai

In the result, appeal of the assessee is allowed for statistical purposes

ITA 22/MUM/2014[2010-11]Status: DisposedITAT Mumbai28 Jun 2018AY 2010-11

Bench: Shri C.N. Prasad & Shri Rajesh Kumarassessment Year: 2010-11

For Appellant: Smt. M.K. Patel, A.R. &For Respondent: Shri V. Justin, D.R
Section 10BSection 115PSection 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “E”, MUMBAI BEFORE SHRI C.N. PRASAD, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER Assessment Year: 2010-11 M/s. Sulphur Mills Ltd., Addl. CIT Range (3), 2nd Floor, 604/605, 349-Business Point, Aayakar Bhavan, 6th Floor, Western Vs. M.K. Road, Express Highway, Mumbai - 400020 Andheri (E), Mumbai – 400 069 PAN: AABCS8736K (Appellant) (Respondent) Present for: Assessee by : Smt. M.K. Patel, A.R. & Shri K.S. Chokshi, A.R. Revenue by : Shri V. Justin, D.R. Date of Hearing : 26.06.2018 Date of Pronouncement : 28.06.2018 O R D E R Per Rajesh Kumar, A…

DCIT, Cir.7(1)(1), Mumbai vs. Gala Precision Technology Pvt. Ltd., Thane

In the result, appeal of the Revenue is dismissed

ITA 2675/MUM/2016[2011-12]Status: DisposedITAT Mumbai20 Jun 2018AY 2011-12

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Bleasst. Commissioner Of Income-Tax, V. M/S. Gala Precision Technology Pvt. Ltd. Circle – 7(1)(1), Room No. 23, 102-A, Orion Business Park, Near Cine Ground Floor, Aayakar Bhavan, Wonder, Ghodbunder Road, Thane (W) M.K.Road, Mumbai-400 020 Pan No: Aaacg 1777 F

For Appellant: Shri Vijay MehtaFor Respondent: Shri V. Vidhyadhar
Section 10BSection 143(3)Section 80H

…on in favour of the assessee observing as under: - “6. Learned counsel for the Revenue in support of his contentions relied on several judgments, which are as under: The apex Court in the case of Pandian Chemicals Ltd. vs. CIT (2003) 183 CTR (SC) 99: (2003) 262 ITR 278 (SC), while dealing with s. 80HH of the Act has held as under: "6. ............... The word 'derived' is not a term of art. Its use in the definition indeed demands an enquiry into the genealogy of the product. But the enquiry should stop as soon as the effective source is discovered. In the genealogical tree of the interest land indeed appears i…

Express Infrastructure Pvt. Ltd., Chennai vs. DCIT, Chennai

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

ITA 930/CHNY/2017[2009-10]Status: DisposedITAT Chennai18 Jun 2018AY 2009-10

Bench: Shri A. Mohan Alankamony & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.No.930/Chny/2017 "नधा"रण वष"/Assessment Year:2009-10 M/S. Express Infrastructures Pvt. Ltd., The Deputy Commissioner Of Express Estates, No. 2, Club House Vs. Income Tax, Road, Mount Road, Chennai 600 002. Company Circle Ii(1), [Pan: Aabce5521G] Chennai. (अपीलाथ" /Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से / Appellant By : Shri G. Baskar, Advocate ""यथ" क" ओर से/Respondent By : Ms. Sandhya Rani, Jcit सुनवाई क" तार"ख/ Date Of Hearing : 03.05.2018 घोषणा क" तार"ख /Date Of Pronouncement : 13.06.2018 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 9, Chennai Dated 30.12.2016 Relevant To The Assessment Year 2009-10. The Only Effective Ground Raised In The Appeal Of The Assessee Is That The Ld. Cit(A) Has Erred In Holding That The Interest Receipt Of ₹.62,77,671/- Is Income & Is To Be Assessed As Income From Other Sources.

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Ms. Sandhya Rani, JCIT
Section 143(3)

…usiness kept in the bank account yielded interest income which is incidental in nature. Such incidental income ought to be assessed only under the head ‘income from other sources’. This is also made clear by the Supreme Court in the case of Pandian Chemicals, 262 ITR 278, Madras High Court decision in the case of South India Shipping Corporation Ltd., 240 ITR 24 and the Supreme Court decisions in the cases of Sterling Foods 237 ITR 579, Liberty India, 317 ITR 218. 7.3.8 Though these judgements have been rendered in a different context, however the principle laid down is same. While defining the term ‘derived from…

Assistant Commissioner of Income Tax, Ichalkaranji vs. Parikh Shankarlal Kundanmal, Kolhapur

In the result, appeals of Revenue and the Cross Objections by the assessee are partly allowed

ITA 736/PUN/2017[2009-10]Status: DisposedITAT Pune31 May 2018AY 2009-10

Bench: Ms. Sushma Chowla, Jm आयकर अपीऱ सं. / Ita Nos.733 To 736/Pun/2017 यििाारण वषा / Assessment Years : 2004-05 To 2006-07 & 2009-10

For Appellant: M.K. KulkarniFor Respondent: Dr. Vivek Aggarwal
Section 143(3)Section 80I

…cably linked to the industrial undertaking carrying on the activity of wind generation energy, it was entitled to the deduction under section 80IA of the Act. Relying on the ratio laid down by the Hon‟ble Supreme Court in Pandian Chemicals Ltd. Vs. CIT (2003) 262 ITR 278 (SC) and also the ratio laid down in CIT Vs. Sterling Foods (1999) 237 ITR 579 (SC), the Assessing Officer observed that for claiming the benefit under section 80-I / 80-IA, there should be direct nexus between the undertaking and the related income. Further, words which were earlier used i.e. „attributable to‟, have been replaced with the word „…

Assistant Commissioner of Income Tax, Ichalkaranji vs. Parikh Shankarlal Kundanmal, Kolhapur

In the result, appeals of Revenue and the Cross Objections by the assessee are partly allowed

ITA 735/PUN/2017[2006-07]Status: DisposedITAT Pune31 May 2018AY 2006-07

Bench: Ms. Sushma Chowla, Jm आयकर अपीऱ सं. / Ita Nos.733 To 736/Pun/2017 यििाारण वषा / Assessment Years : 2004-05 To 2006-07 & 2009-10

For Appellant: M.K. KulkarniFor Respondent: Dr. Vivek Aggarwal
Section 143(3)Section 80I

…cably linked to the industrial undertaking carrying on the activity of wind generation energy, it was entitled to the deduction under section 80IA of the Act. Relying on the ratio laid down by the Hon‟ble Supreme Court in Pandian Chemicals Ltd. Vs. CIT (2003) 262 ITR 278 (SC) and also the ratio laid down in CIT Vs. Sterling Foods (1999) 237 ITR 579 (SC), the Assessing Officer observed that for claiming the benefit under section 80-I / 80-IA, there should be direct nexus between the undertaking and the related income. Further, words which were earlier used i.e. „attributable to‟, have been replaced with the word „…

Assistant Commissioner of Income Tax, Ichalkaranji vs. Parikh Shankarlal Kundanmal, Kolhapur

In the result, appeals of Revenue and the Cross Objections by the assessee are partly allowed

ITA 734/PUN/2017[2005-06]Status: DisposedITAT Pune31 May 2018AY 2005-06

Bench: Ms. Sushma Chowla, Jm आयकर अपीऱ सं. / Ita Nos.733 To 736/Pun/2017 यििाारण वषा / Assessment Years : 2004-05 To 2006-07 & 2009-10

For Appellant: M.K. KulkarniFor Respondent: Dr. Vivek Aggarwal
Section 143(3)Section 80I

…cably linked to the industrial undertaking carrying on the activity of wind generation energy, it was entitled to the deduction under section 80IA of the Act. Relying on the ratio laid down by the Hon‟ble Supreme Court in Pandian Chemicals Ltd. Vs. CIT (2003) 262 ITR 278 (SC) and also the ratio laid down in CIT Vs. Sterling Foods (1999) 237 ITR 579 (SC), the Assessing Officer observed that for claiming the benefit under section 80-I / 80-IA, there should be direct nexus between the undertaking and the related income. Further, words which were earlier used i.e. „attributable to‟, have been replaced with the word „…

Assistant Commissioner of Income Tax, Ichalkaranji vs. Parikh Shankarlal Kundanmal, Kolhapur

In the result, appeals of Revenue and the Cross Objections by the assessee are partly allowed

ITA 733/PUN/2017[2004-05]Status: DisposedITAT Pune31 May 2018AY 2004-05

Bench: Ms. Sushma Chowla, Jm आयकर अपीऱ सं. / Ita Nos.733 To 736/Pun/2017 यििाारण वषा / Assessment Years : 2004-05 To 2006-07 & 2009-10

For Appellant: M.K. KulkarniFor Respondent: Dr. Vivek Aggarwal
Section 143(3)Section 80I

…cably linked to the industrial undertaking carrying on the activity of wind generation energy, it was entitled to the deduction under section 80IA of the Act. Relying on the ratio laid down by the Hon‟ble Supreme Court in Pandian Chemicals Ltd. Vs. CIT (2003) 262 ITR 278 (SC) and also the ratio laid down in CIT Vs. Sterling Foods (1999) 237 ITR 579 (SC), the Assessing Officer observed that for claiming the benefit under section 80-I / 80-IA, there should be direct nexus between the undertaking and the related income. Further, words which were earlier used i.e. „attributable to‟, have been replaced with the word „…

DCIT, Sangrur vs. M/S Padmawati Steel Ltd., Sangrur

In the result, the appeal is treated as partly allowed for statistical purposes

ITA 587/CHANDI/2014[2010-11]Status: DisposedITAT Chandigarh25 May 2018AY 2010-11

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarassessment Year : 2010-11 The Dcit, Vs. M/S Padmawati Steels Ltd., Circle , Sangrur Road, Dibra, Sangrur Distt.Sangrur Pan No. Aaccp3844Q

For Appellant: Sh. Manjit Singh, Sr.DRFor Respondent: Sh. N.K. Garg, Advocate
Section 80I

…to the activity of the industrial undertaking. It therefore cannot be said to be derived from the industrial undertaking. The Hon’ble Apex Court while dealing with a claim of deduction under section 80HH of the Act in the case of Pandian Chemical Ltd. Vs. CIT 262 ITR 278 had the question raised before it as to whether interest earned on a deposit made with the electricity Board for the supply of electricity to the assessees industrial undertaking should be treated as income derived from industrial undertaking under section 80HH. The Hon’ble Court held that although ;electricity may be required for the purposes of…

Ideal Toll & Infrastructure P.Ltd, Mumbai vs. DCIT 6(1), Mumbai

In the result, the appeal of the assessee is treated as allowed

ITA 7758/MUM/2014[2010-11]Status: DisposedITAT Mumbai25 May 2018AY 2010-11

Bench: Shri B.R. Baskaran (Am)& Shri Pawan Singh (Jm)

Section 14ASection 36(1)(iii)

…income earned by the assessee is assessable as income from other sources. Some of the decisions relied upon by Ld CIT(A) are:- (a) Swani Spice Mills P Ltd (322 ITR 288)(Bom) (b) Tuticorin Alkali Chemical & Fertilisers (227 ITR 172)(SC) (c) Pandian Chemicals (262 ITR 278)(SC) (d) Liberty India (317 ITR 218)(SC) (e) Totgars Co-operative Sale society (322 ITR 283)(SC) (f) Gopinathan (248 ITR 449)(SC) 27. We heard the parties on this issue and perused the record. We notice that the various decisions relied upon by the Ld CIT(A) relate to the interest income earned on investment of “surplus funds”. The decision rend…

Endress + Hauser Flowtec (India) Pvt. Ltd., Aurangabad vs. Joint Commissioner of Income-Tax

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

ITA 996/PUN/2016[2010-11]Status: DisposedITAT Pune23 May 2018AY 2010-11

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.949/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2010-11 वष"

For Appellant: Shri Abhay AvchatFor Respondent: Shri Mukesh Jha, JCIT
Section 10BSection 271(1)(c)

…from other deposits and Rs.9,36,971/- on account of miscellaneous income. The assessee has treated the said income as business income and claimed deduction u/s.10B of the Act. CIT(A) relying on the judgment of Apex Court in the case of Pandian Chemicals Ltd. 262 ITR 278, Liberty India 317 ITR 218 and CIT Vs. Sterling Foods 237 ITR 579 denied the claim of the assessee. 24. Aggrieved with such confirmation, assessee filed the present appeal before the Tribunal. 25. Regarding the issues of claim of deduction u/s.10B of the Act, Ld. Counsel for the assessee filed the following submissions: “The AO has reduced…

Endress + Hauser Flowtec (India) Pvt. Ltd., Aurangabad vs. Assistant Commissioner of Income-Tax

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

ITA 995/PUN/2016[2008-09]Status: DisposedITAT Pune23 May 2018AY 2008-09

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.949/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2010-11 वष"

For Appellant: Shri Abhay AvchatFor Respondent: Shri Mukesh Jha, JCIT
Section 10BSection 271(1)(c)

…from other deposits and Rs.9,36,971/- on account of miscellaneous income. The assessee has treated the said income as business income and claimed deduction u/s.10B of the Act. CIT(A) relying on the judgment of Apex Court in the case of Pandian Chemicals Ltd. 262 ITR 278, Liberty India 317 ITR 218 and CIT Vs. Sterling Foods 237 ITR 579 denied the claim of the assessee. 24. Aggrieved with such confirmation, assessee filed the present appeal before the Tribunal. 25. Regarding the issues of claim of deduction u/s.10B of the Act, Ld. Counsel for the assessee filed the following submissions: “The AO has reduced…