PCIT v. Asphalt India Corp.

167 Taxmann.com 460High Court2024#13905 most cited
7

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

Sections most often in play

Section 40(a)(ia)Section 14ASection 115JB(2)Section 143(3)Section 8D(2)(ii)Section 8D(2)(iii)Section 153ASection 115JB

Issues it is cited on

slump saleaccumulated profitssection 115jb(2)interest free advancesbusiness expediencysection 254(1)disallowance under section 14asection 40(a)section 40(a)(ia)section 115jdisallowance u/s 14asection 254

Judgments citing PCIT v. Asphalt India Corp.

DEPUTY COMMSSIONER OF INCOME TAX (CENTRAL CIRCLE) -3(3), MUMBAI, MUMBAI vs. M/S WELSPUN ENTERPRISES LIMITED, MUMBAI

In the result, the appeal of revenue for AY 2018-19 is dismissed

ITA 1763/MUM/2025[2014-15]Status: DisposedITAT Mumbai30 Sept 2025AY 2014-15

Bench: Shri Pawan Singh& Smt.Renu Jauhri

Section 115JSection 14ASection 254(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER& SMT.RENU JAUHRI, ACCOUNTANT MEMBER ITA No. 1763/MUM/2025 (AY: 2014-15) ITA No. 1676/MUM/2025 (AY: 2017-18) ITA No. 1678/MUM/2025 (AY: 2020-21) (Physical hearing) Deputy Commissioner of Income- M/s Welspun Enterprises Limited 4th Floor, Welspun House, Senapati tax (Central Circle)-3(3), Mumbai Vs Room No.404, Kautilya Bhavan Bapat Marg, Lower Parel, BKC, Mumbai-400 051 Delisle Road S.O. Mumbai-400 013 PAN : AABCM4107C Appellant / Revenue Respondent / Assessee Assessee by Shri Harsh Kapadia & Ajay Nagpal Advocates Rev…

DEPUTY COMMSSIONER OF INCOME TAX (CENTRAL CIRCLE) -3(3), MUMBAI, MUMBAI vs. M/S. WELSPUN ENTERPRISES LIMITED, MUMBAI

In the result, the appeal of revenue for AY 2018-19 is dismissed

ITA 1762/MUM/2025[2013-14]Status: DisposedITAT Mumbai30 Sept 2025AY 2013-14

Bench: Shri Pawan Singh& Smt.Renu Jauhri

Section 115JSection 14ASection 254(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER& SMT.RENU JAUHRI, ACCOUNTANT MEMBER ITA No. 1763/MUM/2025 (AY: 2014-15) ITA No. 1676/MUM/2025 (AY: 2017-18) ITA No. 1678/MUM/2025 (AY: 2020-21) (Physical hearing) Deputy Commissioner of Income- M/s Welspun Enterprises Limited 4th Floor, Welspun House, Senapati tax (Central Circle)-3(3), Mumbai Vs Room No.404, Kautilya Bhavan Bapat Marg, Lower Parel, BKC, Mumbai-400 051 Delisle Road S.O. Mumbai-400 013 PAN : AABCM4107C Appellant / Revenue Respondent / Assessee Assessee by Shri Harsh Kapadia & Ajay Nagpal Advocates Rev…

DEPUTY COMMSSIONER OF INCOME TAX (CENTRAL CIRCLE) -3(3), MUMBAI, MUMBAI vs. M/S. WELSPUN ENTERPRISES LIMITED, MUMBAI

In the result, the appeal of revenue for AY 2018-19 is dismissed

ITA 1678/MUM/2025[2020-21]Status: DisposedITAT Mumbai30 Sept 2025AY 2020-21

Bench: Shri Pawan Singh& Smt.Renu Jauhri

Section 115JSection 14ASection 254(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER& SMT.RENU JAUHRI, ACCOUNTANT MEMBER ITA No. 1763/MUM/2025 (AY: 2014-15) ITA No. 1676/MUM/2025 (AY: 2017-18) ITA No. 1678/MUM/2025 (AY: 2020-21) (Physical hearing) Deputy Commissioner of Income- M/s Welspun Enterprises Limited 4th Floor, Welspun House, Senapati tax (Central Circle)-3(3), Mumbai Vs Room No.404, Kautilya Bhavan Bapat Marg, Lower Parel, BKC, Mumbai-400 051 Delisle Road S.O. Mumbai-400 013 PAN : AABCM4107C Appellant / Revenue Respondent / Assessee Assessee by Shri Harsh Kapadia & Ajay Nagpal Advocates Rev…

DEPUTY COMMSSIONER OF INCOME TAX (CENTRAL CIRCLE) -3(3), MUMBAI, MUMBAI vs. M/S. WELSPUN ENTERPRISES LIMITED, MUMBAI

In the result, the appeal of revenue for AY 2018-19 is dismissed

ITA 1677/MUM/2025[2018-19]Status: DisposedITAT Mumbai30 Sept 2025AY 2018-19

Bench: Shri Pawan Singh& Smt.Renu Jauhri

Section 115JSection 14ASection 254(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER& SMT.RENU JAUHRI, ACCOUNTANT MEMBER ITA No. 1763/MUM/2025 (AY: 2014-15) ITA No. 1676/MUM/2025 (AY: 2017-18) ITA No. 1678/MUM/2025 (AY: 2020-21) (Physical hearing) Deputy Commissioner of Income- M/s Welspun Enterprises Limited 4th Floor, Welspun House, Senapati tax (Central Circle)-3(3), Mumbai Vs Room No.404, Kautilya Bhavan Bapat Marg, Lower Parel, BKC, Mumbai-400 051 Delisle Road S.O. Mumbai-400 013 PAN : AABCM4107C Appellant / Revenue Respondent / Assessee Assessee by Shri Harsh Kapadia & Ajay Nagpal Advocates Rev…

DEPUTY COMMSSIONER OF INCOME TAX (CENTRAL CIRCLE) -3(3), MUMBAI, MUMBAI vs. M/S. WELSPUN ENTERPRISES LIMITED, MUMBAI

In the result, the appeal of revenue for AY 2018-19 is dismissed

ITA 1676/MUM/2025[2017-18]Status: DisposedITAT Mumbai30 Sept 2025AY 2017-18

Bench: Shri Pawan Singh& Smt.Renu Jauhri

Section 115JSection 14ASection 254(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER& SMT.RENU JAUHRI, ACCOUNTANT MEMBER ITA No. 1763/MUM/2025 (AY: 2014-15) ITA No. 1676/MUM/2025 (AY: 2017-18) ITA No. 1678/MUM/2025 (AY: 2020-21) (Physical hearing) Deputy Commissioner of Income- M/s Welspun Enterprises Limited 4th Floor, Welspun House, Senapati tax (Central Circle)-3(3), Mumbai Vs Room No.404, Kautilya Bhavan Bapat Marg, Lower Parel, BKC, Mumbai-400 051 Delisle Road S.O. Mumbai-400 013 PAN : AABCM4107C Appellant / Revenue Respondent / Assessee Assessee by Shri Harsh Kapadia & Ajay Nagpal Advocates Rev…

DEPUTY COMMSSIONER OF INCOME TAX (CENTRAL CIRCLE) -3(3), MUMBAI, MUMBAI vs. M/S. WELSPUN ENTERPRISES LIMITED, MUMBAI

In the result, the appeal of revenue for AY 2018-19 is dismissed

ITA 1675/MUM/2025[2016-17]Status: DisposedITAT Mumbai30 Sept 2025AY 2016-17

Bench: Shri Pawan Singh& Smt.Renu Jauhri

Section 115JSection 14ASection 254(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER& SMT.RENU JAUHRI, ACCOUNTANT MEMBER ITA No. 1763/MUM/2025 (AY: 2014-15) ITA No. 1676/MUM/2025 (AY: 2017-18) ITA No. 1678/MUM/2025 (AY: 2020-21) (Physical hearing) Deputy Commissioner of Income- M/s Welspun Enterprises Limited 4th Floor, Welspun House, Senapati tax (Central Circle)-3(3), Mumbai Vs Room No.404, Kautilya Bhavan Bapat Marg, Lower Parel, BKC, Mumbai-400 051 Delisle Road S.O. Mumbai-400 013 PAN : AABCM4107C Appellant / Revenue Respondent / Assessee Assessee by Shri Harsh Kapadia & Ajay Nagpal Advocates Rev…

IRSHAD AHMED SIDDIQUI,MUMBAI vs. ITO 23(1)(2), MUMBAI

In the result, appeal of the assessee is partly allowed

ITA 162/MUM/2024[2013-14]Status: DisposedITAT Mumbai19 Feb 2025AY 2013-14

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2013-14

For Appellant: Shri Tanzil Padvekar, AdvocateFor Respondent: Shri Manish Ajudiya
Section 143(3)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2013-14 Irshad Ahmed Siddiqui Income-tax Officer – 23(1)(2), 105/7, Bharat Nagar, Mumbai Bandra East, Vs. Mumbai – 400051 (PAN : AUQPS9181J) (Appellant) (Respondent) Present for: Assessee : Shri Tanzil Padvekar, Advocate Revenue : Shri Manish Ajudiya Date of Hearing : 21.11.2024 Date of Pronouncement : 19.02.2025 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the assessee is against the order of Ld. CIT(A), National Faceless Appea…