PCIT v. National Textiles Corporation Ltd.

151 Taxmann.com 512High Court2023#22701 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2023 to 2024.

Sections most often in play

Section 115JB Section 14A Section 271(1)(c)Section 32AC Section 37 Section 42 Section 43A

Issues it is cited on

penalty under section 271(1)(c)section 271(1)section 271 section 271(1)(c)section 27 company section 14

Judgments citing PCIT v. National Textiles Corporation Ltd.

ACIT-3(4), Mumbai vs. Reliance Industries Limited, Mumbai

In the result, the appeal of the Revenue is dismissed whereas the appeal of the assessee is allowed

ITA 2898/MUM/2024[2016-17]Status: DisposedITAT Mumbai22 Nov 2024AY 2016-17

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2016-17 Reliance Industries Ltd., Dy. Cit Circle 3(4), 3Rd Floor, Maker Chamber Iv 222 Room No. 559, Aayakar Bhavan, Nariman Point, Vs. Maharshi Karve Road, Mumbai-400021. Mumbai-400020. Pan No. Aaacr 5055 K Appellant Respondent Assessment Year: 2016-17 Acit-3(4), Reliance Industries Ltd., Room No. 481(2), 4Th Floor, 3Rd Floor, Maker Chamber Iv Aayakar Bhavan, N.M. Road, Vs. Nariman Point, New Marine Lines, Mumbai-400021. Mumbai-400020. Pan No. Aaacr 5055 K Appellant Respondent

For Respondent: Mr. Madhur Agrawal

Section 14ASection 271(1)(c)Section 32A

…t of the appellant is strengthened by the decision of Hon'ble Delhi High Court in the case of PCIT vs. National Textile Corporation (supra). For ready reference the decision of Hon'ble Delhi High Court in the case of PCIT vs. National Textile Corporation Ltd. 151 Taxmann.com 512 (Delhi) is produced as under: In the case of Principal Commissioner of, Income-tax v. National Textiles Corporation Ltd. [2023] 151-taxmann.com 512 (Delhi), the Hon'ble High Court of Delhi has held as under: “…Clearly, the record shows that the assessee could not have claimed the loss on account of foreign currency as deductible expenditu…

Birla Integrated Textile Park Ltd., Mumbai vs. ACIT, Cir-3(1)(1), Mumbai

ITA 1351/MUM/2023[2015-16]Status: DisposedITAT Mumbai19 Dec 2023AY 2015-16

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year: 2015-16

For Appellant: Shri Priyank Ghia, C.AFor Respondent: Shri S. Srinivasu, D.R

Section 143(3)Section 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “B”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Assessment Year: 2015-16 M/s. Birla Integrated Asst. Director of Income Textile Park Ltd., Tax, Circle 3(1)(1), Birla Mansion No.2, Room No.607, Room No.23, Aayakar Bhavan, Vs. D.D. Sathe Marg, M.K. Road, Prathana Samaj, Mumbai - 400020 Mumbai, Girgaon S.O., Maharashtra – 400 004 PAN: AADCB5317R (Appellant) (Respondent) Present for: Assessee by : Shri Priyank Ghia, C.A. Revenue by : Shri S. Srinivasu, D.R. Date of Hearing : 13 . 12 . 2023 Date of Pronouncement : 19 .…

Shri Kanjibhai B. Rangani, Rajkot-Gujarat vs. The Income Tax Officer, Ward-5(1), Rajkot-Gujarat

In the result, the appeal of the assessee is allowed

ITA 7/RJT/2020[2007-08]Status: DisposedITAT Rajkot23 Aug 2023AY 2007-08

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyal

For Appellant: Written SubmissionFor Respondent: Shri Abhimanyu Singh, Sr. DR

Section 147Section 148Section 271(1)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT (Conducted through E-Court at Ahmedabad) BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER I.T.A. No.07/Rjt/2020 (Assessment Year: 2007-08) Kanjibhai Bhimjibhai Rangani, Vs. Income Tax Officer, C/o. D.R. Adhia, “Om Shri Ward-3(1)(1), Padmalaya”, Nr. Trikamrayji Rajkot Haweli, 16- Jagnath Plot, Dr. Yagnik Road, Opp. Imperial Hotel, Rajkot-360001 [PAN No.ABGPR6501E] (Appellant) .. (Respondent) Appellant by : Written Submission Respondent by: Shri Abhimanyu Singh, Sr. DR Date of Hearing 09.08.2023 Date of Pronouncement…