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 366,470 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

ACIT, Chennai vs. M/S. Sterlite Industries (India) Ltd., Tuticorin

ITA 1665/CHNY/2010[2006-07]Status: DisposedITAT Chennai29 Mar 2017AY 2006-07

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri M. Swaminathan, Sr.Standing
Section 271ASection 80Section 80H

…ficer shall re-examine the matter afresh and thereafter decide the issue after considering the judgments of Apex Court in Cambay Electric Supply Industrial Co. Ltd. v. CIT (113 ITR 84), CIT v. Sterling Foods (237 ITR 579) and Pandian Chemicals Ltd. v. CIT (262 ITR 278) and thereafter, decide the issue in accordance with law, after giving a reasonable opportunity to the assessee. 105. The next issue arises for consideration is with regard to disallowance under Section 40(a)(ia) of the Act. 106. Shri M. Swaminathan, Ld. Sr. Standing Counsel for the Revenue, submitted that the assessee has paid representative…

M/S. Sterlite Industries (India) Ltd., Madurai vs. Additional CIT, Chennai

ITA 1386/CHNY/2010[2006-2007]Status: DisposedITAT Chennai29 Mar 2017AY 2006-2007

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri M. Swaminathan, Sr.Standing
Section 271ASection 80Section 80H

…ficer shall re-examine the matter afresh and thereafter decide the issue after considering the judgments of Apex Court in Cambay Electric Supply Industrial Co. Ltd. v. CIT (113 ITR 84), CIT v. Sterling Foods (237 ITR 579) and Pandian Chemicals Ltd. v. CIT (262 ITR 278) and thereafter, decide the issue in accordance with law, after giving a reasonable opportunity to the assessee. 105. The next issue arises for consideration is with regard to disallowance under Section 40(a)(ia) of the Act. 106. Shri M. Swaminathan, Ld. Sr. Standing Counsel for the Revenue, submitted that the assessee has paid representative…

ACIT, Chennai vs. M/S. Sterlite Industries (India) Ltd., Tuticorin

ITA 1020/CHNY/2010[2005-06]Status: DisposedITAT Chennai29 Mar 2017AY 2005-06

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri M. Swaminathan, Sr.Standing
Section 271ASection 80Section 80H

…ficer shall re-examine the matter afresh and thereafter decide the issue after considering the judgments of Apex Court in Cambay Electric Supply Industrial Co. Ltd. v. CIT (113 ITR 84), CIT v. Sterling Foods (237 ITR 579) and Pandian Chemicals Ltd. v. CIT (262 ITR 278) and thereafter, decide the issue in accordance with law, after giving a reasonable opportunity to the assessee. 105. The next issue arises for consideration is with regard to disallowance under Section 40(a)(ia) of the Act. 106. Shri M. Swaminathan, Ld. Sr. Standing Counsel for the Revenue, submitted that the assessee has paid representative…

M/S Sterlite Industries (India) Ltd., Tuticorin vs. DCIT, Chennai

ITA 86/CHNY/2008[2004-05]Status: DisposedITAT Chennai29 Mar 2017AY 2004-05

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri M. Swaminathan, Sr.Standing
Section 271ASection 80Section 80H

…ficer shall re-examine the matter afresh and thereafter decide the issue after considering the judgments of Apex Court in Cambay Electric Supply Industrial Co. Ltd. v. CIT (113 ITR 84), CIT v. Sterling Foods (237 ITR 579) and Pandian Chemicals Ltd. v. CIT (262 ITR 278) and thereafter, decide the issue in accordance with law, after giving a reasonable opportunity to the assessee. 105. The next issue arises for consideration is with regard to disallowance under Section 40(a)(ia) of the Act. 106. Shri M. Swaminathan, Ld. Sr. Standing Counsel for the Revenue, submitted that the assessee has paid representative…

ACIT, Chennai vs. M/S Sterlite Industries (India) Ltd., Tuticorin

ITA 319/CHNY/2008[2004-05]Status: DisposedITAT Chennai29 Mar 2017AY 2004-05

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri M. Swaminathan, Sr.Standing
Section 271ASection 80Section 80H

…ficer shall re-examine the matter afresh and thereafter decide the issue after considering the judgments of Apex Court in Cambay Electric Supply Industrial Co. Ltd. v. CIT (113 ITR 84), CIT v. Sterling Foods (237 ITR 579) and Pandian Chemicals Ltd. v. CIT (262 ITR 278) and thereafter, decide the issue in accordance with law, after giving a reasonable opportunity to the assessee. 105. The next issue arises for consideration is with regard to disallowance under Section 40(a)(ia) of the Act. 106. Shri M. Swaminathan, Ld. Sr. Standing Counsel for the Revenue, submitted that the assessee has paid representative…

ACIT, Chennai vs. M/S Sterlite Industries (India) Ltd., Chennai

ITA 318/CHNY/2008[2004-05]Status: DisposedITAT Chennai29 Mar 2017AY 2004-05

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.318 & 319/Mds/2008 "नधा"रण वष" / Assessment Year : 2004-05 आयकर अपील सं./Ita No. 1020/Mds/2010 "नधा"रण वष" / Assessment Year : 2005-06 आयकर अपील सं./Ita No. 1665/Mds/2010 "नधा"रण वष" / Assessment Year : 2006-07

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri M. Swaminathan, Sr.Standing
Section 271ASection 80Section 80H

…ficer shall re-examine the matter afresh and thereafter decide the issue after considering the judgments of Apex Court in Cambay Electric Supply Industrial Co. Ltd. v. CIT (113 ITR 84), CIT v. Sterling Foods (237 ITR 579) and Pandian Chemicals Ltd. v. CIT (262 ITR 278) and thereafter, decide the issue in accordance with law, after giving a reasonable opportunity to the assessee. 105. The next issue arises for consideration is with regard to disallowance under Section 40(a)(ia) of the Act. 106. Shri M. Swaminathan, Ld. Sr. Standing Counsel for the Revenue, submitted that the assessee has paid representative…

ACIT, CC-Xx, Kolkata vs. M/S. Paharpur Cooling Towers Limited, Kolkata

In the result, this ground is allowed

ITA 1370/KOL/2010[2001-02]Status: DisposedITAT Kolkata15 Mar 2017AY 2001-02

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

For Appellant: Shri Sallong Yaden, Addl. CITFor Respondent: Shri Navin Verma & Nitin Agarwal, ARs
Section 143(3)

…amounting to Rs.11,80,623/- as income eligible for deduction u/s. 80IA.” 8.1. The ld DR argued that the decision of the Hon’ble Madras High Court reported in 233 ITR 497 (Mad) in the case of Pandian Chemicals Ltd was approved by the Hon’ble Supreme Court in 262 ITR 278 (SC). He further argued that the issue is squarely covered in favour of the revenue in Pandian Chemicals Ltd case reported in 270 ITR 448 (Mad). He stated that the assessee had not furnished any details to prove as to how the scrap was generated and how it was treated in the books and accordingly prayed for set aside of this issue to the file of…

Coastal Gujarat Power Ltd, Mumbai vs. ITO 6(2)(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 2298/MUM/2015[2010-11]Status: DisposedITAT Mumbai15 Mar 2017AY 2010-11

Bench: Shri Amit Shukla, Jm & Shri Rajesh Kumar, Am आमकय अऩीर सं./ I.T.A. No 2298/Mum/2015 (निर्धारण वषा / Assessment Year : 2010-11) Coastal Gujarat Power Limited, The Income Tax Officer 34, Sant Tukaram Road, 6(2)(1), फनाभ/ Carnac Bunder, Aayakar Bhavan, Vs. Mumbai-400009 M K Road, Mumbai-400020 अऩीराथी की ओय से / Applicant By : Shri Farrokh V Irani प्रत्मथी की ओय से/Respondent By : Shri M C Omi Ningshen सुनवाई की तायीख /Date Of Hearing : 14.12.2016 घोषणा की तायीख /Date Of : 15.3.2017 Pronouncement आदेश / O R D E R Per Rajesh Kumar, A. M: This Is An Appeal Filed By The Assessee & Is Directed Against The Order Of The Ld.Cit(A), Mumbai, Dated25.2.2015 For The Assessment Year 2010-11. 2. The First Ground Raised By The Assessee Is Against Upholding The Order Of Assessing Officer As Regards Interest Income From Securities Deposited With Paschim Gujarat Vij Co.Ltd (Hereinafter Referred To As Pgvcl) For Availing Electricity For The Purposes Of Construction Of Power

For Respondent: Shri M C Omi Ningshen
Section 143(3)

…r is there any compulsion to utilize the same only for the purpose of construction or erection of power plant or project cost. On the contrary, the facts of the instant case are more resembling with the facts involved in the case of Pandian Chemicals Limited (262 ITR 278 SC), wherein the Hon‟ble Apex Court held as under : Section 80HH of the Income-tax Act, 1961 - Deductions - Profits and gains from hotels or industrial undertakings, etc., in backward areas - Assessment year 1984-85 - Whether words 'derived from' in section 80HH must be understood as something which has direct or immediate nexus with an industri…

M/S. Aditya Durobuild Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal is dismissed

ITA 861/DEL/2016[2009-10]Status: DisposedITAT Delhi28 Feb 2017AY 2009-10

Bench: Shri R.S. Syalassessment Year : 2009-10 Aditya Durobuild Pvt. Ltd., Vs. Dcit, A-14, Lgf, Central Circle-7, Kailash Colony, New Delhi. New Delhi. Pan: Aaeca9706A (Appellant) (Respondent) Assessee By : Shri V.K. Jain, Ca Department By : Ms Bedobina Chaudhuri, Sr. Dr Date Of Hearing : 27.02.2017 Date Of Pronouncement : 28.02.2017 Order This Is An Appeal Filed By The Assessee Against The Order Passed By The Cit(A) On 22.8.2013 In Relation To The Assessment Year 2009-10. 2. The Only Issue Raised In This Appeal Is Against Not Allowing Deduction U/S 80Ib In Respect Of Bank Interest Of Rs.20,75,862/- Which Was Treated By The Ao As ‘Income From Other Sources.’

For Appellant: Shri V.K. Jain, CAFor Respondent: Ms Bedobina Chaudhuri, Sr. DR
Section 80HSection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : SMC-I : NEW DELHI BEFORE SHRI R.S. SYAL, ACCOUNTANT MEMBER Assessment Year : 2009-10 Aditya Durobuild Pvt. Ltd., Vs. DCIT, A-14, LGF, Central Circle-7, Kailash Colony, New Delhi. New Delhi. PAN: AAECA9706A (Appellant) (Respondent) Assessee By : Shri V.K. Jain, CA Department By : Ms Bedobina Chaudhuri, Sr. DR Date of Hearing : 27.02.2017 Date of Pronouncement : 28.02.2017 ORDER This is an appeal filed by the assessee against the order passed by the CIT(A) on 22.8.2013 in relation to the assessment year 2009-10. 2. The only issue raised in this appeal is agains…

DCIT, Circle - 11, Kolkata vs. M/S. I M C Ltd, Kolkata

Appeal is dismissed

ITA 371/KOL/2012[2007-08]Status: DisposedITAT Kolkata18 Jan 2017AY 2007-08

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 10(34)Section 115JSection 143(3)Section 14ASection 234B

…and interest income was earned thereon. Therefore we find that there is direct nexus of the interest income with the business of the assessee. The ld. DR has relied in the judgment of Hon’ble Apex Court in the case of Pandian Chemical Ltd. Vs. CIT reported in 262 ITR 278 in supporting the order of AO. However the Hon’ble High Court of Karnataka in the case of CIT & ANR Vs. Motorala India Electronics Pvt. reported in ITR 265 CTR 0094 has decided the identical issue in favour of assessee considering the Pandian Chemical Ltd. (supra) in favour of the assessee. The relevant extract of the order is reproduced below:-…

M/S. Imc Ltd., Kolkata vs. DCIT, Circle - 11, Kolkata

Appeal is dismissed

ITA 813/KOL/2009[2005-06]Status: DisposedITAT Kolkata18 Jan 2017AY 2005-06

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 10(34)Section 115JSection 143(3)Section 14ASection 234B

…and interest income was earned thereon. Therefore we find that there is direct nexus of the interest income with the business of the assessee. The ld. DR has relied in the judgment of Hon’ble Apex Court in the case of Pandian Chemical Ltd. Vs. CIT reported in 262 ITR 278 in supporting the order of AO. However the Hon’ble High Court of Karnataka in the case of CIT & ANR Vs. Motorala India Electronics Pvt. reported in ITR 265 CTR 0094 has decided the identical issue in favour of assessee considering the Pandian Chemical Ltd. (supra) in favour of the assessee. The relevant extract of the order is reproduced below:-…

DCIT, Circle - 11, Kolkata vs. M/S. Imc Ltd., Kolkata

Appeal is dismissed

ITA 781/KOL/2009[2005-06]Status: DisposedITAT Kolkata18 Jan 2017AY 2005-06

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 10(34)Section 115JSection 143(3)Section 14ASection 234B

…and interest income was earned thereon. Therefore we find that there is direct nexus of the interest income with the business of the assessee. The ld. DR has relied in the judgment of Hon’ble Apex Court in the case of Pandian Chemical Ltd. Vs. CIT reported in 262 ITR 278 in supporting the order of AO. However the Hon’ble High Court of Karnataka in the case of CIT & ANR Vs. Motorala India Electronics Pvt. reported in ITR 265 CTR 0094 has decided the identical issue in favour of assessee considering the Pandian Chemical Ltd. (supra) in favour of the assessee. The relevant extract of the order is reproduced below:-…

Bright Brothers Ltd, Mumbai vs. Addl CIT RG 6(1), Mumbai

ITA 6907/MUM/2014[2011-12]Status: DisposedITAT Mumbai11 Jan 2017AY 2011-12

Bench: S/Sh.Rajendra & Amarjit Singhआयकर अपील सं./I.T.A./6907/Mum/2014,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2011-12 िनधा"रण िनधा"रण वष" वष" M/S. Bright Brothers Ltd. Addl. Cit Range-6(1) Aayakar Bhavan, 5Th Floor 610/611, Nirman Kendra Dr. Moses Road, Famous Studio Lane Vs. Mumbai-400 020. Mahalaxmi,Mumbai-400 011. Pan:Aaacb 3010 G (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से / Revenue By: Shri Suman Kumar-Dr अपीलाथ" क" ओर से /Assessee By: Shri Ajay R. Singh-Ar सुनवाई क" तारीख / Date Of Hearing: 05/12/2016 घोषणा क" तारीख / Date Of Pronouncement: 11.01.2017 आयकर अिधिनयम आयक अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयक आयक अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सद"य लेखा सद"य, राजे"" राजे"" केकेकेके अनुसार अनुसार/ Per Rajendra A.M.- लेखा लेखा सद"य सद"य राजे"" राजे"" अनुसार अनुसार Challenging The Order Dated 14.8.14 Of Cit(A)-14,Mumbai The Assessee Has Filed The Present Appeal.Assessee-Company, Engaged In The Business Of Manufacturing,Job-Work & Trading Of Injection-Moulded Plastic Products,Filed Its Return Of Income On 27.09.2011,Declaring Total Income At Rs.1.81 Crores.The Assessing Officer (Ao)Completed The Assessment U/S.143(3) Of The Act On 28.10.13,Determining Its Income At Rs.3.38 Crores.

For Appellant: Shri Ajay R. Singh-ARFor Respondent: Shri Suman Kumar-DR
Section 143(3)Section 254(1)Section 80Section 80I

…आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण, मुंबई अिधकरण मुंबई मुंबई “बी मुंबई बी बी” ” ” ” खंडपीठ बी खंडपीठ खंडपीठ खंडपीठ Income-tax Appellate Tribunal -“B”Bench Mumbai सव"ी राजे"",लेखा सद"य एवं अमरजीत "सह, "याियक सद"य Before S/Sh.Rajendra,Accountant Member and Amarjit Singh,Judicial Member आयकर अपील सं./I.T.A./6907/Mum/2014,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2011-12 िनधा"रण िनधा"रण वष" वष" M/s. Bright Brothers Ltd. Addl. CIT Range-6(1) Aayakar Bhavan, 5th Floor 610/611, Nirman Kendra Dr. Moses Road, Famous Studio Lane Vs. Mumbai-400 020. Mahalaxmi,Mumbai-400 011. PAN:AAACB 3…

ITO, Bangalore vs. M/S Mahaveer Calyx, Bangalore

In the result, the Revenue’s appeal are dismissed

ITA 610/BANG/2016[2010-11]Status: DisposedITAT Bangalore06 Jan 2017AY 2010-11

Bench: Shri S.K. Yadav & Shri A.K. Garodia

For Appellant: Shri R.K. Jha, CIT(DR)For Respondent: Shri V. Srinivasan, Advocate
Section 80Section 80I

…tion 80 IB of the Act. 5.4.5 We are of the view that the learned CIT(A) has rightly placed reliance on the decisions of the Hon'ble Apex Court in the cases of Petron Engineering Construction (P) Ltd. reported in 175 ITR 523, Pandian Chemicals Ltd. reported in 262 ITR 278, N.C. Budharaja & Co. reported in 204 ITR 412, IPCA Laboratories Ltd. reported in 266 ITR 521 to arrive at the view that the tax incentive by way of deduction. 80 IB of the Act is predominantly for the purpose of augmenting affordable dwelling and ought to be interpreted in that light. In this view of the matter, the incentive provisions must be…

A.C.I.T Cir - 36, Kolkata. vs. M/S Sri Ram Commercial Co, Kolkata

In the result, Revenue’s appeal is dismissed

ITA 623/KOL/2013[2008-2009]Status: DisposedITAT Kolkata18 Nov 2016AY 2008-2009

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 10BSection 143(1)Section 143(3)Section 147Section 148

…97, 2161-62/Kol/13 & 623/Kol/14 A.Ys 02-03 to 04-05 M/s Tea Promoters (I) Pt. Ltd. vs. DCIT Rng-4, Kol. Page 11 other sources. The AO in his assessment order for A.Y 2002-03 had specifically pointed out the Apex Court case of M/s Pandian Chemicals reported in 262 ITR 278 that interest income is not part of business income. The AR of the appellant has tried to distinguish in the case of Pandian Chemicals from the case of the appellant as the stated judgments pertain to Section 80HH. However, I am not in agreement with the reasoning of the AR of the appellant as even for claim of deduction u/s. 10B there are specif…

Income Tax Officer Ward-4(4), Kolkata vs. M/S Tea Propoters (India) Pvt. Ltd., Kolkata

In the result, Revenue’s appeal is dismissed

ITA 2161/KOL/2013[2002-03]Status: DisposedITAT Kolkata18 Nov 2016AY 2002-03

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 10BSection 143(1)Section 143(3)Section 147Section 148

…97, 2161-62/Kol/13 & 623/Kol/14 A.Ys 02-03 to 04-05 M/s Tea Promoters (I) Pt. Ltd. vs. DCIT Rng-4, Kol. Page 11 other sources. The AO in his assessment order for A.Y 2002-03 had specifically pointed out the Apex Court case of M/s Pandian Chemicals reported in 262 ITR 278 that interest income is not part of business income. The AR of the appellant has tried to distinguish in the case of Pandian Chemicals from the case of the appellant as the stated judgments pertain to Section 80HH. However, I am not in agreement with the reasoning of the AR of the appellant as even for claim of deduction u/s. 10B there are specif…

M/S Tea Promoters (India) Pvt Ltd, Kolkata vs. D.C.I.T RG - 4, Kolkata

In the result, Revenue’s appeal is dismissed

ITA 1897/KOL/2013[2003-04]Status: DisposedITAT Kolkata18 Nov 2016AY 2003-04

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 10BSection 143(1)Section 143(3)Section 147Section 148

…97, 2161-62/Kol/13 & 623/Kol/14 A.Ys 02-03 to 04-05 M/s Tea Promoters (I) Pt. Ltd. vs. DCIT Rng-4, Kol. Page 11 other sources. The AO in his assessment order for A.Y 2002-03 had specifically pointed out the Apex Court case of M/s Pandian Chemicals reported in 262 ITR 278 that interest income is not part of business income. The AR of the appellant has tried to distinguish in the case of Pandian Chemicals from the case of the appellant as the stated judgments pertain to Section 80HH. However, I am not in agreement with the reasoning of the AR of the appellant as even for claim of deduction u/s. 10B there are specif…

M/S Tea Promoters (India) Pvt. Ltd., Kolkata vs. DCIT, Circle - 4, Kolkata

In the result, Revenue’s appeal is dismissed

ITA 1841/KOL/2013[2002-03]Status: DisposedITAT Kolkata18 Nov 2016AY 2002-03

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 10BSection 143(1)Section 143(3)Section 147Section 148

…97, 2161-62/Kol/13 & 623/Kol/14 A.Ys 02-03 to 04-05 M/s Tea Promoters (I) Pt. Ltd. vs. DCIT Rng-4, Kol. Page 11 other sources. The AO in his assessment order for A.Y 2002-03 had specifically pointed out the Apex Court case of M/s Pandian Chemicals reported in 262 ITR 278 that interest income is not part of business income. The AR of the appellant has tried to distinguish in the case of Pandian Chemicals from the case of the appellant as the stated judgments pertain to Section 80HH. However, I am not in agreement with the reasoning of the AR of the appellant as even for claim of deduction u/s. 10B there are specif…

Commr of Income Tax vs. Uniplas India Ltd

The appeal is allowed

ITR/2/2004HC Delhi19 Oct 2016

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MS. JUSTICE DEEPA SHARMA

Section 80Section 80HSection 80J

…$~19 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITR 2/2004 COMMR OF INCOME TAX ..... Petitioner Through: Mr.Dileep Shivpuri, Sr.Standing Counsel, Mr.Sanjay Kumar, Jr.Standing counsel and Mr.Vikrant A.Maheshwari, Adv. versus UNIPLAS INDIA LTD ..... Respondent Through: Mr.Sanjay Katyal, Adv. for Official Liquidator. CORAM: HON'BLE MR. JUSTICE S. RAVINDRA BHAT HON'BLE MS. JUSTICE DEEPA SHARMA O R D E R % 19.10.2016 1. The question of law framed in this case is "Whether on the facts and in the circumstances of the case, the ITAT has erred in…

Asst CIT Cen Cir 46, Mumbai vs. Jsw Energy Ltd, Mumbai

In the result, both the appeals of the Revenue and the assessee are allowed in part in terms indicated hereinabove

ITA 981/MUM/2014[2007-08]Status: DisposedITAT Mumbai07 Oct 2016AY 2007-08

Bench: Shri R. C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./I.T.A. No. 462/Mum/2014 (नििाारण वषा / Assessment Year: 2007-08) Jsw Energy Limited Acit, Central Circle-46, बिाम/ Jsw Centre, Bandra Kurla Complex, Aayakar Bhavan, M. K. Road, Vs. Bandra (E), Mumabi-400 051 Mumbai स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aaacj 8109 N (Assessee) : (Revenue) आमकय अऩीर सं./I.T.A. No. 981/Mum/2014 (नििाारण वषा / Assessment Year: 2007-08) Acit, Central Circle-46, Jsw Energy Limited बिाम/ Aayakar Bhavan, M. K. Road, Jsw Centre, Bandra Kurla Mumbai Complex, Vs. Bandra (E), Mumabi-400 051 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aaacj 8109 N (Revenue) : (Assessee) Assessee By : Shri Rakesh Joshi Revenue By : Shri K. Ravi Kiran सुनवाई की तायीख / : 12.7.2016 Date Of Hearing घोषणा की तायीख / : 07.10.2016 Date Of Pronouncement आदेश / O R D E R Per R. C. Sharma, A. M.: These Are The Cross Appeals Filed By The Assessee & The Revenue Against The Order By The Ld. Cit(A) For The Assessment Year (A.Y.) 2007-08. 2

For Appellant: Shri Rakesh JoshiFor Respondent: Shri K. Ravi Kiran
Section 115JSection 14ASection 80Section 80HSection 80I

…आयकर अपीऱीय अधिकरण “जे” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE SHRI R. C. SHARMA, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN, JUDICIAL MEMBER आमकय अऩीर सं./I.T.A. No. 462/Mum/2014 (नििाारण वषा / Assessment Year: 2007-08) JSW Energy Limited ACIT, Central Circle-46, बिाम/ JSW Centre, Bandra Kurla Complex, Aayakar Bhavan, M. K. Road, Vs. Bandra (E), Mumabi-400 051 Mumbai स्थामी रेखा सं./ जीआइआय सं./ PAN/GIR No. AAACJ 8109 N (Assessee) : (Revenue) आमकय अऩीर सं./I.T.A. No. 981/Mum/2014 (नििाारण वषा / Assessment Year: 2007-08) ACIT, Central Circle-46, JSW Energy Limited बिाम/…