Pentamedia Graphics Ltd. v. ITO

236 CTR 204High Court2011#6728 most cited
17

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2025.

Sections most often in play

Section 115QASection 133ASection 143(3)Section 1961Section 263Section 36(1)(iii)Section 391Section 394

Issues it is cited on

goodwill arising on amalgamationsection 72asection 62scheme of arrangementsection 39transferor companyresulting companytransferee companysection 72section 42section 43(6)slump sale

Judgments citing Pentamedia Graphics Ltd. v. ITO

ACIT, CHENNAI vs. UPDATER SERVICES LIMITED, CHENNAI

In the result, the grounds of appeal raised by both the assessee and the Revenue, as well as the grounds raised in the cross-objections filed by the assessee, are treated as allowed for statistical...

ITA 1616/CHNY/2025[2017]Status: DisposedITAT Chennai14 Nov 2025

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:1339 /Chny/2025 िनधा#रण वष# / Assessment Year: 2017-18 M/S. Updater Services Limited (Formerly Dcit, Known As Updater Services Private Vs. Central Circle -2(3), Limited), No.2/302-A, Uds Salai, Chennai. Off Old Mahabalipuram Road, Thoraipakkam, Chennai – 600 097. [Pan:Aaacu-6845-J] (अपीलाथ%/Appellant) (&'थ%/Respondent)

For Appellant: Shri. K. Prasanna, C.AFor Respondent: Ms. E. Pavuna Sundari, C.I.T
Section 115QSection 250Section 263Section 391Section 77A

…Further, It is a settled principle that once a scheme of arrangement is approved by the court to be well within the corners of law, it shall be binding on the tax authorities (refer Hon'ble Madras High Court ruling in the case of Pentamedia Graphics Limited (236 CTR 204)) (refer para 21 of the judgement, pg no. 24 of the case laws paperbook). • Basis the above, it is evident that buyback of shares under Section 77A of the Companies Act, 1956 is different from buyback of shares undertaken through a court approved scheme of arrangement under Section 391-394. 2.3.2. Reliance placed by the learned AO on the Delhi NC…

M/S. UPDATER SERVICES LTD.,CHENNAI vs. DCIT, CENTRAL CIRCLE-2(3), CHENNAI

In the result, the grounds of appeal raised by both the assessee and the Revenue, as well as the grounds raised in the cross-objections filed by the assessee, are treated as allowed for statistical...

ITA 1339/CHNY/2025[2017-18]Status: DisposedITAT Chennai14 Nov 2025AY 2017-18

Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:1339 /Chny/2025 िनधा#रण वष# / Assessment Year: 2017-18 M/S. Updater Services Limited (Formerly Dcit, Known As Updater Services Private Vs. Central Circle -2(3), Limited), No.2/302-A, Uds Salai, Chennai. Off Old Mahabalipuram Road, Thoraipakkam, Chennai – 600 097. [Pan:Aaacu-6845-J] (अपीलाथ%/Appellant) (&'थ%/Respondent)

For Appellant: Shri. K. Prasanna, C.AFor Respondent: Ms. E. Pavuna Sundari, C.I.T
Section 115QSection 250Section 263Section 391Section 77A

…Further, It is a settled principle that once a scheme of arrangement is approved by the court to be well within the corners of law, it shall be binding on the tax authorities (refer Hon'ble Madras High Court ruling in the case of Pentamedia Graphics Limited (236 CTR 204)) (refer para 21 of the judgement, pg no. 24 of the case laws paperbook). • Basis the above, it is evident that buyback of shares under Section 77A of the Companies Act, 1956 is different from buyback of shares undertaken through a court approved scheme of arrangement under Section 391-394. 2.3.2. Reliance placed by the learned AO on the Delhi NC…

DCIT CIRCLE 27(1), NEW DELHI vs. UNITED DRILLING TOOLS LTD. , NEW DELHI

In the result, the Appeal filed by the Revenue is dismissed

ITA 5913/DEL/2019[2015-16]Status: DisposedITAT Delhi06 Dec 2024AY 2015-16

Bench: Before Shri Shamim Yahya & Shri Yogesh Kumar U.S.

Section 143(1)Section 143(2)Section 36(1)(va)

…d have considered the effect of amalgamation more so in view of the specific mandate of the Hon'ble High Court. The Ld. A.O has ignored the above facts. Further, as per the decision of Hon’ble Madras High Court in the case of Pentamedia Graphics Ltd. vs. ITO: 236 CTR 204, which is also followed by the Delhi Bench of the Tribunal in the case of Bharti Airtel Limited vs. ACIT: ITA No. 3907/Del/2010, the only course open to the Revenue would be to act as per the scheme sanctioned effective from 01/04/2013 which means that the tax authorities are bound to take note of the state of affairs of the Assessee as on 01/04/…

KIFS INTERNATIONAL LLP,AHMEDABAD vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI PRESENTLY WITH ACIT, CENTRAL CIRCLE-1(4), AHMEDABAD

ITA 684/AHD/2023[2018-19]Status: DisposedITAT Ahmedabad08 Feb 2024AY 2018-19

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. Nos. 682, 683 & 684/Ahd/2023 ("नधा"रण वष" / Assessment Years : 2016-17 To 2018-19) Kifs International Llp Acit बनाम/ B-81, Pariseema Complex, Circle-5(2)(1), Vs. C. G. Road, Ellisbridge, Narayan Chambers Ahmedabad 380006 Building, Ashram Road, Ahmedabad [Presently With Acit, Central Circle 1(4), 3Rd Floor, Aaykar Bhavan, Ashrma Road, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaqfk2892L (Appellant) .. (Respondent) Shri Tushar Hemani, Sr. Advocate & Assessee By : Shri Parimalsinh B. Parmar, A.Rs. Revenue By : Shri Ritesh Parmar, Cit. Dr & Shri Rajdeep Singh, Sr.Dr (On 08.11.2023) & Shri Kamlesh Makwana, Cit.Dr (On 30.01.2024) सुनवाई क" तार"ख / Date Of 08/11/2023 & 30.01.2024 Hearing घोषणा क" तार"ख /Date Of 08/02/2024 Pronouncement O R D E R Per Ms. Madhumita Roy - Jm: The Bunch Of Three Appeals Filed By The Assessee Are Directed Against The Common Order Dated 14.08.2023 Passed By Ld. Commissioner Of Income Tax (Appeals)-11, Ahmedabad (In Short ‘Cit(A)’) Arising Out Of The Orders Dated

For Appellant: Shri Parimalsinh B. Parmar, A.RsFor Respondent: Shri Ritesh Parmar, CIT. DR & Shri
Section 143(3)Section 147Section 32Section 32(1)Section 43(6)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER आयकर अपील सं./I.T.A. Nos. 682, 683 & 684/Ahd/2023 ("नधा"रण वष" / Assessment Years : 2016-17 to 2018-19) KIFS International LLP ACIT बनाम/ B-81, Pariseema Complex, Circle-5(2)(1), Vs. C. G. Road, Ellisbridge, Narayan Chambers Ahmedabad 380006 Building, Ashram Road, Ahmedabad [Presently with ACIT, Central Circle 1(4), 3rd Floor, Aaykar Bhavan, Ashrma Road, Ahmedabad "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAQFK2892L (Appellant) .. (Respondent) Shri Tushar Hemani, Sr. Advocate…

KIFS INTERNATIONAL LLP,AHMEDABAD vs. THE ACIT, CIRCLE-5(2)(1) PRESENTLY WITH ACIT, CENTRAL CIRCLE-1(4), AHMEDABAD

ITA 683/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad08 Feb 2024AY 2017-18

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. Nos. 682, 683 & 684/Ahd/2023 ("नधा"रण वष" / Assessment Years : 2016-17 To 2018-19) Kifs International Llp Acit बनाम/ B-81, Pariseema Complex, Circle-5(2)(1), Vs. C. G. Road, Ellisbridge, Narayan Chambers Ahmedabad 380006 Building, Ashram Road, Ahmedabad [Presently With Acit, Central Circle 1(4), 3Rd Floor, Aaykar Bhavan, Ashrma Road, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaqfk2892L (Appellant) .. (Respondent) Shri Tushar Hemani, Sr. Advocate & Assessee By : Shri Parimalsinh B. Parmar, A.Rs. Revenue By : Shri Ritesh Parmar, Cit. Dr & Shri Rajdeep Singh, Sr.Dr (On 08.11.2023) & Shri Kamlesh Makwana, Cit.Dr (On 30.01.2024) सुनवाई क" तार"ख / Date Of 08/11/2023 & 30.01.2024 Hearing घोषणा क" तार"ख /Date Of 08/02/2024 Pronouncement O R D E R Per Ms. Madhumita Roy - Jm: The Bunch Of Three Appeals Filed By The Assessee Are Directed Against The Common Order Dated 14.08.2023 Passed By Ld. Commissioner Of Income Tax (Appeals)-11, Ahmedabad (In Short ‘Cit(A)’) Arising Out Of The Orders Dated

For Appellant: Shri Parimalsinh B. Parmar, A.RsFor Respondent: Shri Ritesh Parmar, CIT. DR & Shri
Section 143(3)Section 147Section 32Section 32(1)Section 43(6)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER आयकर अपील सं./I.T.A. Nos. 682, 683 & 684/Ahd/2023 ("नधा"रण वष" / Assessment Years : 2016-17 to 2018-19) KIFS International LLP ACIT बनाम/ B-81, Pariseema Complex, Circle-5(2)(1), Vs. C. G. Road, Ellisbridge, Narayan Chambers Ahmedabad 380006 Building, Ashram Road, Ahmedabad [Presently with ACIT, Central Circle 1(4), 3rd Floor, Aaykar Bhavan, Ashrma Road, Ahmedabad "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAQFK2892L (Appellant) .. (Respondent) Shri Tushar Hemani, Sr. Advocate…

KIFS INTERNATIONAL LLP,AHMEDABAD vs. THE ACIT, CIRCLE-5(2)(1) PRESENTLY WITH ACIT, CENTRAL CIRCLE-1(4), AHMEDABAD

ITA 682/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad08 Feb 2024AY 2016-17

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. Nos. 682, 683 & 684/Ahd/2023 ("नधा"रण वष" / Assessment Years : 2016-17 To 2018-19) Kifs International Llp Acit बनाम/ B-81, Pariseema Complex, Circle-5(2)(1), Vs. C. G. Road, Ellisbridge, Narayan Chambers Ahmedabad 380006 Building, Ashram Road, Ahmedabad [Presently With Acit, Central Circle 1(4), 3Rd Floor, Aaykar Bhavan, Ashrma Road, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaqfk2892L (Appellant) .. (Respondent) Shri Tushar Hemani, Sr. Advocate & Assessee By : Shri Parimalsinh B. Parmar, A.Rs. Revenue By : Shri Ritesh Parmar, Cit. Dr & Shri Rajdeep Singh, Sr.Dr (On 08.11.2023) & Shri Kamlesh Makwana, Cit.Dr (On 30.01.2024) सुनवाई क" तार"ख / Date Of 08/11/2023 & 30.01.2024 Hearing घोषणा क" तार"ख /Date Of 08/02/2024 Pronouncement O R D E R Per Ms. Madhumita Roy - Jm: The Bunch Of Three Appeals Filed By The Assessee Are Directed Against The Common Order Dated 14.08.2023 Passed By Ld. Commissioner Of Income Tax (Appeals)-11, Ahmedabad (In Short ‘Cit(A)’) Arising Out Of The Orders Dated

For Appellant: Shri Parimalsinh B. Parmar, A.RsFor Respondent: Shri Ritesh Parmar, CIT. DR & Shri
Section 143(3)Section 147Section 32Section 32(1)Section 43(6)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER आयकर अपील सं./I.T.A. Nos. 682, 683 & 684/Ahd/2023 ("नधा"रण वष" / Assessment Years : 2016-17 to 2018-19) KIFS International LLP ACIT बनाम/ B-81, Pariseema Complex, Circle-5(2)(1), Vs. C. G. Road, Ellisbridge, Narayan Chambers Ahmedabad 380006 Building, Ashram Road, Ahmedabad [Presently with ACIT, Central Circle 1(4), 3rd Floor, Aaykar Bhavan, Ashrma Road, Ahmedabad "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAQFK2892L (Appellant) .. (Respondent) Shri Tushar Hemani, Sr. Advocate…

DCIT, CEN. CIR. 4(4), KOLKATA vs. M/S G.K. & SONS PVT. LTD., KOLKATA

In the result, appeal of the revenue is dismissed

ITA 240/KOL/2022[2011-12]Status: DisposedITAT Kolkata20 Oct 2022AY 2011-12

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2011-12 Deputy Commissioner Of M/S. G. K. & Sons Pvt. Ltd., Income-Tax, Central Circle- Room No. 603, 6Th Floor, 4(4), Kolkata. Vs. Shantiniketan Building, 8, Camac Street, Kolkata- 700017. (Pan:Aaacg8389H) (Appellant) (Respondent) Present For: Appellant By : Shri P. P. Barman, Addl. Cit Respondent By : Shri Ravi Tulsiyan, Fca Date Of Hearing : 12.10.2022 Date Of Pronouncement : 20.10.2022

For Appellant: Shri P. P. Barman, Addl. CITFor Respondent: Shri Ravi Tulsiyan, FCA
Section 143(3)Section 72Section 78Section 79

…h circumstances , we are of the view that the revenue has nothing to say at the time of approval of the scheme by Hon’ble High Court in the present case. 4.5. We find that the Hon’ble Madras High Court in the case of Pentamedia Graphics Ltd vs ITO reported in 236 CTR 204 (Mad) had categorically held that once the scheme had been sanctioned with effect from a particular date by the Court, it is binding on everyone including the statutory authorities. It further held that having regard to the law declared by the Hon’ble Apex Court as to the effect of the scheme sanctioned by the Court, the only course open to the r…

CAROLINA FOOD AND INDUSTRIES PRIVATE LIMITED ,KOLKATA vs. DCIT, CIRCLE - 10(1) , KOLKATA

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

ITA 2625/KOL/2018[2015-16]Status: DisposedITAT Kolkata09 Sept 2022AY 2015-16

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

Section 32

…h circumstances , we are of the view that the revenue has nothing to say at the time of approval of the scheme by Hon’ble High Court in the present case. 4.5. We find that the Hon’ble Madras High Court in the case of Pentamedia Graphics Ltd vs ITO reported in 236 CTR 204 (Mad) had categorically held that once the scheme had been sanctioned with effect from a particular date by the Court, it is binding on everyone including the statutory authorities. It further held that having regard to the law declared by the Hon’ble Apex Court as to the effect of the scheme sanctioned by the Court, the only course open to the r…

ACIT, CIRCLE-21(2), NEW DELHI vs. ROHIT BAL DESIGNS PVT. LTD.,, NEW DELHI

In the result, the Appeal filed by the Revenue is dismissed

ITA 8270/DEL/2018[2014-15]Status: DisposedITAT Delhi12 Aug 2022AY 2014-15

Bench: Dr.B.R.R. Kumar & Shri Yogesh Kumar U.S.I.T.A. No. 8270/Del/2018 (A.Y 2014-15)

For Appellant: Shri Kamal Bansal, C. AFor Respondent: Shri Girish Kumar Kohli
Section 139Section 139(5)Section 139(9)

…d have considered the effect of amalgamation more so in view of the specific mandate of the Hon'ble High Court. The Ld. A.O has ignored the above facts. Further, as per the decision of Hon’ble Madras High Court in the case of Pentamedia Graphics Ltd. vs. ITO: 236 CTR 204, which is also followed by the Delhi Bench of the Tribunal in the case of Bharti Airtel Limited vs. ACIT: ITA No. 3907/Del/2010, the only course open to the Revenue would be to act as per the scheme sanctioned effective from 01/04/2013 which means that the tax authorities are bound to take note of the state of affairs of the assessee as on 01/04/…

CONVERGYS INDIA SERVICES PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE- 4(2), NEW DELHI

In the result, the appeal of the assessee is allowed and the Stay Application of the assessee is dismissed

ITA 782/DEL/2021[2016-17]Status: DisposedITAT Delhi01 Aug 2022AY 2016-17

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 782/Del/2021 : Asstt. Year : 2016-17 & Sa No. 132/Del/2021 : Asstt. Year : 2016-17 Convergys India Services Pvt. Ltd., Vs Dcit, Industrial Plot No. 243, Tower-A, Circle-4(2), 3Rd, 4Th, 5Th 1St & Tower-B, New Delhi 2Nd 5Th Ground & Floors, Sp Infocity, Udyog Vihar, Gurgaon, Haryana-122001 (Appellant) (Respondent) Pan No. Aabcc5056G Assessee By : Sh. K. M. Gupta, Adv. & Ms. Shruti Khimta, Ar Revenue By : Sh. Mahesh Shah, Cit Dr & Sh. Mrinal Kumar Das, Sr. Dr Date Of Hearing: 20.07.2022 Date Of Pronouncement: 01.08.2022

For Appellant: Sh. K. M. Gupta, Adv. &For Respondent: Sh. Mahesh Shah, CIT DR &
Section 115JSection 14(3)Section 144Section 43BSection 56(2)(viia)

…statutorily binding on everyone including statutory authorities. Reliance is being placed on the following judicial precedents:  J.K. Bombay (P) Ltd., Vs. New Kaiser-I Hind Spinning & Weaving Co. AIR 1970 1041 (SC)  Pentamedia Graphics Ltd. Vs. ITO (2010) 236 CTR 204 (Mad HC)  Telesound India Ltd., [Company Petition N0.54 of 1980 dated 05.12.1980, Delhi High Court 8 SA No. 132/Del/2021 Convergys India Services Pvt. Ltd.  Marshall Sons & Co. (India) Ltd. Vs. ITO (1997) 223 ITR 809 (SC) 13. The Hon’ble Supreme Court in the case of T. Veerabhadra Rao, K. Koteswara Rao & Co. 155 ITR 152 held as follows: "If…

M/S. NICHOLAS PIRAMAL INDIA LTD,MUMBAI vs. THE ACIT CUR 7(1),

In the result, the appeal filed by the revenue is dismissed and the appeal filed by the assessee is partly allowed for statistical purposes

ITA 769/MUM/2008[2004-2005]Status: DisposedITAT Mumbai28 Jun 2022AY 2004-2005

Bench: Shri Pavan Kumar Gadale & Shri S Rifaur Rahmanpiramal Enterprises Ltd Vs. Acit, Circle – 7(1) (Formerly Known As Aayakar Bhavan Piramal Healthcare Ltd) Mumbai – 400020. (Before Known As Nicholas Piramal Ind) Piramal Tower, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013. Pan/Gir No. : Aaacn4538P Appellant .. Respondent Dcit, Circle – 7(1) Vs. Piramal Enterprises Ltd Aayakar Bhyavan (Formerly Known As Mumbai – 400 020. Piramal Healthcare Ltd) (Before Known As Nicholas Piramal Ind) Piramal Tower, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013. Pan/Gir No. : Aaacn4538P Assessee By : Mr.Ronak Doshi & Ms.Manshi Padhiyar.Ar Revenue By : Mr.S.N.Kabra.Dr

For Appellant: Mr.Ronak Doshi &For Respondent: Mr.S.N.Kabra.DR
Section 143(3)Section 145Section 32Section 35Section 80

…is aspect, the court, if necessary, can pierce the veil of apparent corporate purpose underlying the scheme and can judiciously x-ray the same.” 7.1. We also find that the Hon‟ble Madras High Court in the case of Penta Media Graphics Ltd. vs. ITO reported in 236 CTR 204 had categorically held that once the merger scheme had been sanctioned with effect from the particular date by the Hon‟ble Court, it is binding on everyone including the statutory authorities. Similar is the view rendered by the Hon‟ble Jurisdictional High Court in the case of Casby CFS (P) Ltd., In Ra reported in 231 Taxman 89 (Bom) dated 19/03/…

THE DCIT CIR 7(1), MUMBAI vs. M/S. PIRAMAL ENTERPRISES LTD., MUMBAI

In the result, appeal of the assessee in ITA

ITA 4345/MUM/2007[2003-2004]Status: DisposedITAT Mumbai05 Oct 2021AY 2003-2004

Bench: Known As Nicholas Piramal Mumbai - 400020 India Ltd.,) Piramal Tower, Ganpatrao Kadam Marg Lower Parel, Mumbai-400013 Pan/Gir No.Aaacn4538P (Appellant) .. (Respondent) Dcit. Circle 7(1), Vs. M/S. Piramal Enterprises Ltd. Aayakar Bhavan (Formerly Known As Piramal Healthcare Mumbai - 400020 Ltd.,) (Before Known As Nicholas Piramal India Ltd.,) Piramal Tower, Ganpatrao Kadam Marg Lower Parel, Mumbai-400013 Pan/Gir No.Aaacn4538P (Appellant) .. (Respondent) M/S. Piramal Enterprises Ltd. Vs. Deputy Commissioner Of Income (Formerly Known As Piramal Tax Healthcare Ltd.,) Range 7(3)(2), (Before Known As Nicholas Piramal Mumbai - 400020 India Ltd.,) Piramal Tower, Ganpatrao Kadam Marg Lower Parel, Mumbai-400013 Pan/Gir No.Aaacn4538P (Appellant) .. (Respondent) M/S. Piramal Enterprises Limited

Section 143(3)

…amal Enterprises Limited necessary, can pierce the veil of apparent corporate purpose underlying the scheme and can judiciously x-ray the same.” 7.1. We also find that the Hon‟ble Madras High Court in the case of Penta Media Graphics Ltd. vs. ITO reported in 236 CTR 204 had categorically held that once the merger scheme had been sanctioned with effect from the particular date by the Hon‟ble Court, it is binding on everyone including the statutory authorities. Similar is the view rendered by the Hon‟ble Jurisdictional High Court in the case of Casby CFS (P) Ltd., In Ra reported in 231 Taxman 89 (Bom) dated 19/03/…

KEVA FRGRANCES PVT LTD.,MUMBAI vs. DY CIT 4 (2)(2), MUMBAI

In the result the appeal of the assessee is allowed and that of the Revenue is dismissed

ITA 334/MUM/2020[2016-17]Status: DisposedITAT Mumbai02 Aug 2021AY 2016-17

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2016-17

For Appellant: Shri Saurabh Bhat, A.RFor Respondent: Shri Sandeep Raj, D.R
Section 115J

…circumstances , we are of the view that the revenue has nothing to say at the time of approval of the scheme by Hon’ble High Court in the present case. 4.5. We find that the Hon’ble Madras High Court in the case of Pentamedia Graphics Ltd vs ITO reported in 236 CTR 204 (Mad) had categorically held that once the scheme had been sanctioned with effect from a particular date by the Court, it is binding on everyone including the statutory authorities. It further held that having regard to the law declared by the Hon’ble Apex Court as to the effect of the scheme sanctioned by the Court, the only course open to the r…

DCIT, CIRCLE - 11(1), KOLKATA , KOLKATA vs. M/S. JCT LTD., , KOLKATA

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

ITA 84/KOL/2019[2011-12]Status: DisposedITAT Kolkata08 Jul 2020AY 2011-12

Bench: Shri J. Sudhakar Reddy & Shri S.S. Godara]

Section 115JSection 142(1)Section 143(2)Section 143(3)Section 250Section 32(2)

…. circumstances , we are of the view that the revenue has nothing to say at the time of approval of the scheme by Hon’ble High Court in the present case. 4.5. We find that the Hon’ble Madras High Court in the case of Pentamedia Graphics Ltd vs ITO reported in 236 CTR 204 (Mad) had categorically held that once the scheme had been sanctioned with effect from a particular date by the Court, it is binding on everyone including the statutory authorities. It further held that having regard to the law declared by the Hon’ble Apex Court as to the effect of the scheme sanctioned by the Court, the only course open to the r…

JCT LTD., ,KOLKATA vs. DCIT, CIRCLE - 11(1), , KOLKATA

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

ITA 2389/KOL/2018[2011-12]Status: DisposedITAT Kolkata08 Jul 2020AY 2011-12

Bench: Shri J. Sudhakar Reddy & Shri S.S. Godara]

Section 115JSection 142(1)Section 143(2)Section 143(3)Section 250Section 32(2)

…. circumstances , we are of the view that the revenue has nothing to say at the time of approval of the scheme by Hon’ble High Court in the present case. 4.5. We find that the Hon’ble Madras High Court in the case of Pentamedia Graphics Ltd vs ITO reported in 236 CTR 204 (Mad) had categorically held that once the scheme had been sanctioned with effect from a particular date by the Court, it is binding on everyone including the statutory authorities. It further held that having regard to the law declared by the Hon’ble Apex Court as to the effect of the scheme sanctioned by the Court, the only course open to the r…

ELECTROCAST SALES INDIA LTD.,KOLKATA vs. DCIT, CC-XXI, KOLKATA, KOLKATA

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

ITA 2145/KOL/2014[2011-2012]Status: DisposedITAT Kolkata09 Mar 2018AY 2011-2012

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 2145/Kol/2014 Assessment Year : 2011-12 Electrocast Sales India Ltd. -Vs- Dcit, Cc-Xxi, Kolkata [Pan: Aaace 5671 N] (Appellant) (Respondent)

For Appellant: Shri Ravi Tulsiyan, FCAFor Respondent: Shri S. Dasgupta, Addl. CIT (DR)
Section 115JSection 143(3)Section 72ASection 79

…rted in 231 Taxman 89 (Bom) c) Hon’ble Supreme Court in the case of J.K.(Bombay) (P) Ltd vs New Kaiser –I-Hind Spg.& Wvg.Co. reported in 1970 AIR 1041 (SC) dated 22.11.1968 d) Hon’ble Madras High Court in the case of Pentamedia Graphics Ltd vs ITO reported in 236 CTR 204 (Mad) e) Co-ordinate Bench of this Tribunal in the case of Vivada Chemicals Pvt Ltd vs DCIT in ITA No. 1764/Kol/2014 dated 18.12.2014 f) Co-ordinate Bench of this Tribunal in the case of ITO vs Purbanchaal Power Co. Ltd in ITA No. 201/Kol/2010 dated 17.7.2014. 5 Electrocast Sales India Ltd. A.Yr.2011-12 4.1. The ld AR argued that the Union of In…

ACIT, MADURAI vs. LAXMI SELVARAAJ TEX PRIVATE LTD., MADURAI

In the result, the appeal of the Revenue stands dismissed

ITA 2271/CHNY/2015[2010-11]Status: DisposedITAT Chennai31 May 2017AY 2010-11

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No. : 2271/Mds/2015 िनधा"रण वष" / Assessment Year :2010-11 The Asstt. Commissioner Of Income M/S. Laxmi Selvaraaj Tex Tax, V. Private Ltd., Corporate Circle I, No.9/7B, Dindigul Road, Madurai. Vilangudi, Madurai – 625 018. Pan: Aabcl5470H (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri A.V. Sreekanth, Jcit ""यथ" क" ओर से/Respondent By : None सुनवाई क" तारीख/Date Of Hearing : 02.05.2017 घोषणा क" तारीख/Date Of Pronouncement : 31.05.2017 आदेश /O R D E R Per N.R.S. Ganesan:

For Appellant: Shri A.V. Sreekanth, JCITFor Respondent: None
Section 139(1)

…A. No. 2271/Mds/2015 forward of business loss, when the return was not filed U/s. 139(1) of the Income Tax Act, 1961 (in short ‘the Act’). The Ld. CIT(Appeals) by following the decision of the Hon’ble Madras High Court in Pentamedia Graphics Ltd. vs. ITO, 236 CTR 204 allowed the claim of the assessee. According to the Ld. DR, the Revenue has filed Special Leave Petition (SLP) before the Apex court against the decision of the Hon’ble Madras High Court in the case of Pentamedia Graphics Ltd supra. Therefore the judgment of Hon’ble Madras High Court ought not have been followed by the Ld.CIT(Appeals). Accordi…