PCIT v. Nitin Spinners Ltd.

283 Taxmann 2Supreme Court of India2021#3966 most cited

What is PCIT v. Nitin Spinners Ltd. authority for?

Interest subsidy received under the Technology Upgradation Fund (TUF) Scheme is a capital receipt. The Supreme Court's dismissal of a Special Leave Petition affirms the High Court's view on this matter.

30

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2022 to 2025.

Also referred to as

PCIT v. Nitin Spinners Ltd · TUF Scheme · interest subsidy · capital receipt · revenue receipt · income tax

Also reported as

130 Taxmann.com 402

Sections most often in play

Section 143(3)Section 115JBSection 14ASection 153ASection 147Section 148Section 234BSection 234C

Issues it is cited on

section 11bsection 2(24)(xviii)convertible foreign exchangesection 207perquisite valuesection 2(45)section 211section 108section 158bb(1)minimum alternate taxsection 153a proceedingssection 32(1)(iia)

Judgments citing PCIT v. Nitin Spinners Ltd.

DCIT, CC-7(2), Mumbai vs. M/S. Patanjali Foods Ltd., ( Formerly Known As Ruchi Soya Industries Ltd, Mumbai

In the result, the appeal and cross objections of the assessee are

ITA 1176/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/S. Patanjali Foods Ltd Vs. (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross Objection No.51/Mum/2023 (Arising Out Of I.T. A. No. 1172/Mum/2023) (निर्धारण वर्ष / Assessment Year: 2010-11) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. बनाम / Dcit, Central Circle-7(2) Vs. Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. & आयकर अपील सं/ I.T. A. No. 320/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) बनाम / Vs. Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaci1220M 2

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S RIFAUR RAHMAN, AM आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) DCIT, Central Circle-7(2) Room No. 637, 6th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/s. Patanjali Foods Ltd Vs. (Formerly known as Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross objection No.51/…

DCIT, CC-7(2), Mumbai vs. M/S. Patanjali Foods Ltd., ( Formerly Known As Ruchi Soya Industries Ltd, Mumbai

ITA 1175/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Apr 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/S. Patanjali Foods Ltd Vs. (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross Objection No.51/Mum/2023 (Arising Out Of I.T. A. No. 1172/Mum/2023) (निर्धारण वर्ष / Assessment Year: 2010-11) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. बनाम / Dcit, Central Circle-7(2) Vs. Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. & आयकर अपील सं/ I.T. A. No. 320/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) M/S. Patanjali Foods Ltd (Formerly Known As Ruchi Soya Industries Ltd) बनाम / Vs. Dcit, Central Circle-7(2) Room No. 637, 6Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaci1220M 2

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S RIFAUR RAHMAN, AM आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ष / Assessment Year: 2012-13) DCIT, Central Circle-7(2) Room No. 637, 6th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020. बनाम / M/s. Patanjali Foods Ltd Vs. (Formerly known as Ruchi Soya Industries Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross objection No.51/…

DCIT, CC-7(2), Mumbai vs. M/S. Patanjali Foods Ltd., ( Formerly Known As Ruchi Soya Industries Ltd, Mumbai

In the result, the appeal and cross objections of the assessee are partly allowed and the appeals of the revenue are dismissed

ITA 1172/MUM/2023[2010-11]Status: DisposedITAT Mumbai05 Apr 2024AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13)

For Appellant: Shri S. S. Nagar & Shri BFor Respondent: Dr. Mahesh Akhade (DR)
Section 132Section 143(2)Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S RIFAUR RAHMAN, AM आयकर अपील सं/ I.T. A. No. 1172/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T. A. No. 1175/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) & आयकर अपील सं/ I.T. A. No. 1176/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2012-13) DCIT, Central Circle-7(2) बिधम/ M/s. Patanjali Foods Ltd Room No. 637, 6th Floor, (Formerly known as Vs. Aayakar Bhavan, M. K. Ruchi Soya Industries Road, Mumbai-400020. Ltd) 616, Tulsiani Chambers, Nariman Point, Mumbai- 400021. Cross objection No.51/…

Assistant Commissioner of Income-Tax, Circle - 1, Kolhapur vs. Grasim Industries Ltd., (As A Successor to Soktas India Pvt.Ltd, Kolhapur

In the result, Cross Objection appeal of the assessee is dismissed

ITA 206/PUN/2019[2015-16]Status: DisposedITAT Pune27 Jun 2023AY 2015-16

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.206/Pun/2019 िनधा"रण वष" / Assessment Year :2015-16 The Asst. Commissioner Of Soktas India Private Income Tax, Cicle-1, V Limited, Plot No.T-8, Kolhapur. S Kagal Five Star, M.I.D.C, Kolhapur – 416003. Pan: Aakcs 5899 J Appellant / Revenue Respondent / Assessee

Section 115JSection 143(3)

…आयकर अपीलीय अिधकरण ”बी” "ायपीठ पुणेम"। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “B” :: PUNE BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR. DIPAK P. RIPOTE, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No.206/PUN/2019 िनधा"रण वष" / Assessment Year :2015-16 The Asst. Commissioner of Soktas India Private Income Tax, Cicle-1, V Limited, Plot NO.T-8, Kolhapur. s Kagal Five Star, M.I.D.C, Kolhapur – 416003. PAN: AAKCS 5899 J Appellant / Revenue Respondent / Assessee Cross Objection No.23/PUN/2021 (arising out of ITA No.23/PUN/2021) िनधा"रण वष" / Assessment Year :2015-16 Grasim Industries Limited The Assistant (As…

DCIT Central Circle-31, New Delhi vs. Maral Overseas Ltd, West Nirmar

In the result, the appeal of the Assessee in ITA No

ITA 1922/DEL/2020[2015-16]Status: DisposedITAT Delhi17 May 2023AY 2015-16
Section 132Section 14A

…1 ITA Nos. 1921 & 1922/Del/2020 DCIT Vs. Maral Overseas Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’: NEW DELHI BEFORE, SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER DCIT Maral Overseas Ltd. Central Circle-31, Maral Sarovar, NH-3, Room No. 343, E-2, ARA Vs. Nimrani, Khal Bujurg, centre, Jhandewalan West Nirmar, Niwari, Extension, New Delhi Madhya Pradesh PAN-AACCM0230B (Appellant) (Respondent) DCIT Maral Overseas Ltd. Central Circle-31, Maral Sarovar, NH-3, Room No. 343, E-2, ARA Vs. Nimrani, Khal Bujurg, centre, Jhandewalan West Nirmar, Niwari, Extension,…

DCIT Central Circle-31, New Delhi vs. Maral Overseas Ltd, West Nirmar

In the result, the appeal of the Assessee in ITA No

ITA 1921/DEL/2020[2014-15]Status: DisposedITAT Delhi17 May 2023AY 2014-15
Section 132Section 14A

…1 ITA Nos. 1921 & 1922/Del/2020 DCIT Vs. Maral Overseas Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’: NEW DELHI BEFORE, SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER DCIT Maral Overseas Ltd. Central Circle-31, Maral Sarovar, NH-3, Room No. 343, E-2, ARA Vs. Nimrani, Khal Bujurg, centre, Jhandewalan West Nirmar, Niwari, Extension, New Delhi Madhya Pradesh PAN-AACCM0230B (Appellant) (Respondent) DCIT Maral Overseas Ltd. Central Circle-31, Maral Sarovar, NH-3, Room No. 343, E-2, ARA Vs. Nimrani, Khal Bujurg, centre, Jhandewalan West Nirmar, Niwari, Extension,…

DCIT Circle 1, Tirupur vs. M/S Eastern Exports Global Clothing (P) Limited, Tirupur

The appeal of the revenue stand dismissed

ITA 548/CHNY/2018[2014-15]Status: DisposedITAT Chennai10 Feb 2023AY 2014-15

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri T. Banusekar, (CA)- Ld. ARFor Respondent: Shri S. Senthil Kumaran, (CIT)-Ld. DR
Section 143(3)Section 28Section 32(1)

…आयकर अपीलीय अिधकरण ‘बी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI माननीय +ी महावीर िसंह, उपा12 एवं माननीय +ी मनोज कुमार अ7वाल ,लेखा सद: के सम2। BEFORE HON’BLE SHRI MAHAVIR SINGH, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकर अपील सं./ ITA No.548/Chny/2018 (िनधाCरण वषC / Assessment Year: 2014-15) & आयकर अपील सं./ ITA No.2229/Chny/2018 (िनधाCरण वषC / Assessment Year: 2015-16) DCIT M/s. Eastman Exports Global Clothing (P) Ltd. बनाम/ 10, 12, 2nd Street, Kumar Nagar south, Circle-1 Vs. Tirupur Tirupur-641 603. "थायी लेखा सं./जीआइ आर सं./PAN/GIR No. AACCC-0952-E (अपीलाथ"/…

DCIT Circle 1, Tirupur vs. Eastman Exports Global Clothing (P) Limited, Tirupur

The appeal of the revenue stand dismissed

ITA 2229/CHNY/2018[2015-16]Status: DisposedITAT Chennai10 Feb 2023AY 2015-16

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri T. Banusekar, (CA)- Ld. ARFor Respondent: Shri S. Senthil Kumaran, (CIT)-Ld. DR
Section 143(3)Section 28Section 32(1)

…आयकर अपीलीय अिधकरण ‘बी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI माननीय +ी महावीर िसंह, उपा12 एवं माननीय +ी मनोज कुमार अ7वाल ,लेखा सद: के सम2। BEFORE HON’BLE SHRI MAHAVIR SINGH, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकर अपील सं./ ITA No.548/Chny/2018 (िनधाCरण वषC / Assessment Year: 2014-15) & आयकर अपील सं./ ITA No.2229/Chny/2018 (िनधाCरण वषC / Assessment Year: 2015-16) DCIT M/s. Eastman Exports Global Clothing (P) Ltd. बनाम/ 10, 12, 2nd Street, Kumar Nagar south, Circle-1 Vs. Tirupur Tirupur-641 603. "थायी लेखा सं./जीआइ आर सं./PAN/GIR No. AACCC-0952-E (अपीलाथ"/…

DCIT - CC-3(2), Mumbai vs. Aarti Drugs Limited, Mumbai

In the result, the appeal by the Revenue is partly allowed

ITA 2503/MUM/2021[2012-13]Status: DisposedITAT Mumbai20 Jan 2023AY 2012-13

Bench: Shri S. Rifaur Rahman & Shri Sandeep Singh Karhail

For Appellant: Shri S.S. Nagar a/wFor Respondent: Shri R.S. Srivastav
Section 139Section 14ASection 250Section 32(1)Section 801ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.2503/Mum./2021 (Assessment Year :2012–13) Dy. Commissioner of Income Tax ……………. Appellant Central Circle–3(2), Mumbai v/s Aarti Drugs Ltd. Mahendra Industrial Estate …………….Respondent Ground Floor, Plot no.109–D Road no.29, Sion (E), Mumbai 400 022 PAN – AAACA4410D Assesseeby : Shri S.S. Nagar a/w Shri Vipul Jain Revenue by : Shri R.S. Srivastav Date of Hearing – 15/11/2022 Date of Order – 20/01/2023 O R D E R PER SANDEEP SINGH KARHAIL, J.M. The presen…

Jain Irrigation Systems Ltd, Jalgaon vs. Deputy Commissioner of Income-Tax, Circle - 2, Jalgaon

Appeal is partly allowed in above terms

ITA 227/PUN/2018[2013-14]Status: DisposedITAT Pune22 Dec 2022AY 2013-14

Bench: Shri S.S.Godara & Dr.Dipak P.Ripoteआयकरअपीलसं. / Ita No.227/Pun/2018 िनधा"रणवष" / Assessment Year : 2013-14 Jain Irrigation Systems Ltd., The Deputy Commissioner Of Jain Plastic Park, N.H No.6, Vs Income Tax, Circle-2, Jalgaon – 425001. . Jalgaon. Pan: Aaacj 7163 Q Appellant/ Assessee Respondent /Revenue Assessee By Shri Percy Pardiwala; Shri Prashant Maheshwari & Ms.Monicamulchandani – Ar’S Revenue By Shri B Koteswara Rao – Dr Date Of Hearing 23/09/2022 Date Of Pronouncement 22/12/2022 आदेश/ Order Per S.S.Godara, Jm: This Assessee’Sappeal For Assessment Year 2013-14Is Directed Against Thedeputy Commissioner Of Income Tax, Cricle-2, Jalgaon’S Assessment Order Dated 29.10.2017, Framed In Furtherance To The Dispute Resolution Panel-3, Mumbai (Drp)’S Direction Dated 25.09.2017 Passed In Objection No.78, In Proceedings U/S 143(3) R,.W.S 144C(5) Of The Income Tax Act, 1961 [In Short “The Act”].

Section 143(3)Section 92D

…आयकर अपीलीय अिधकरण “सी” "ायपीठ पुणेम"। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “C” :: PUNE BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR.DIPAK P.RIPOTE, ACCOUNTANT MEMBER आयकरअपीलसं. / ITA No.227/PUN/2018 िनधा"रणवष" / Assessment Year : 2013-14 Jain Irrigation Systems Ltd., The Deputy Commissioner of Jain Plastic Park, N.H No.6, Vs Income Tax, Circle-2, Jalgaon – 425001. . Jalgaon. PAN: AAACJ 7163 Q Appellant/ Assessee Respondent /Revenue Assessee by Shri Percy Pardiwala; Shri Prashant Maheshwari and Ms.MonicaMulchandani – AR’s Revenue by Shri B Koteswara Rao – DR Date of hearing 23/09/2022 Date of pron…