Pr. CIT-1, Kolkata v. Shyam Steel Industries Ltd.

303 CTR 628High Court2018#11464 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2007 to 2023.

Issues it is cited on

prescribed person company section 143(3)india business

Judgments citing Pr. CIT-1, Kolkata v. Shyam Steel Industries Ltd.

Commissioner of Income Tax, Kolkata-II, Kolkata vs. M/S. Birla Corporation Ltd

ITA/158/2010HC Calcutta18 Dec 2023

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

Section 4A

…1 A.F.R. OD – 24 & 25 IN THE HIGH COURT AT CALCUTTA Special Jurisdiction [Income Tax] ORIGINAL SIDE ITA/158/2010 COMMISSIONER OF INCOME TAX, KOLKATA – II, KOLKATA -Versus- M/S. BIRLA CORPORATION LTD. ITA/233/2007 COMMISSIONER OF INCOME TAX, KOLKATA – I, KOLKATA -Versus- M/S. BIRLA CORPORATION LTD. BEFORE : THE HON’BLE JUSTICE SURYA PRAKASH KESARWANI And THE HON’BLE JUSTICE RAJARSHI BHARADWAJ Date : 18th December, 2023 Appearance : Sri Tilak Mitra, Adv. ..for…

The Supreme Industrial Ltd, Mumbai vs. Asst CIT Ltu Circle, Mumbai

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

ITA 7598/MUM/2019[2015-16]Status: DisposedITAT Mumbai03 Oct 2023AY 2015-16

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No. 7598/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2015-16) The Supreme Industries Ltd. Acit Ltu, Circle, बिधम/ 612, Raheja Chambers, Free Mumbai Vs. Press Journal Marg, Room No. X, 29Th Floor, Nariman Point, Mumbai- World Trade Centre-1, 400021. Cuffee Parade, Mumbai- 400005. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaact1344F (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Nitesh Joshi & Shri Harsh Shah Revenue By: Shri Manoj Kumar (Cit- Dr) सुनवाई की तारीख / Date Of Hearing: 07/07/2023 घोषणा की तारीख /Date Of Pronouncement: 03/10/2023 आदेश / O R D E R

For Appellant: Shri Nitesh Joshi & Shri Harsh ShahFor Respondent: Shri Manoj Kumar (CIT- DR)

Section 143(3)Section 17(1)Section 197Section 40ASection 40A(2)Section 40A(2)(b)Section 92BSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI S. RIFAUR RAHMAN, AM आयकर अपील सं/ I.T.A. No. 7598/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2015-16) The Supreme Industries Ltd. ACIT LTU, Circle, बिधम/ 612, Raheja Chambers, Free Mumbai Vs. Press Journal Marg, Room No. X, 29th Floor, Nariman Point, Mumbai- World Trade Centre-1, 400021. Cuffee Parade, Mumbai- 400005. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : AAACT1344F (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee by: Shri Nitesh Joshi & Shri Harsh Shah Revenue by: Shri Manoj Kumar (CIT- DR) सुनवाई की त…

Joint CIT (OSD) Cent Cir. 1(4), Mumbai vs. Grasim Industries Ltd., Mumbai

In the result, all the appeals of the Revenue are dismissed

ITA 2155/MUM/2016[1996-97]Status: DisposedITAT Mumbai29 Apr 2022AY 1996-97

Section 143(3)

…bsidy. Few such capital asset decisions are as under: then it‟s a capital subsidy, if it is for  PCIT v. Ankit Metal & Power Ltd. (Cal. HC) (416 ITR 591) supplementing (PB7 Pg. no. 1367-1374) profits then it‟s  PCIT v. Shyam Steel Industries Ltd. (Cal. HC) (303 CTR 628) a revenue (PB7 Pg. no. 1375-1377) subsidy The Jurisdictional HC in CIT v. Kirloskar Oil Engines Ltd. (364 ITR  If it is to 88) (Pg 245-247/PB 1) after referring to both the decisions of Sahney enable running Steel (supra) and Ponni Sugars (supra) has held that ―If the object of of business, the subsidy scheme is to enable the assessee to run th…

Jsw Steel Limited, Mumbai vs. Addlcit, Bangalore

858/M/2011

ITA 858/BANG/2011[2007-08]Status: DisposedITAT Mumbai16 Mar 2022AY 2007-08

Bench: Shri Om Prakash Kant () & Shri Amarjit Singh () Assessment Year: 2007-08 Jsw Steel Limited, The Addl. Cit, Range 11, Jindal Mansion, 5A, Vs. Bangalore. Dr. G. Deshmukh Marg, Mumbai-400026. Pan No. Aaacj 4323 N Appellant Respondent Assessment Year: 2007-08 Dc. Cc.46, M/S Jsw Steel Ltd., R.No. 659, 6Th Floor, Aayakar Vs. Jindal Mansion, 5-A, Dr. G Bhavan, M.K. Road, Deshmukh Marg, Mumbai-20. Mumbai-400026. Pan No. Aaacj 4323 N Appellant Respondent Assessment Year: 2007-08 M/S Jsw Steel Ltd., Dcit, Central Circle 46, Jsw Centre, Bandra Kurla Vs. 6Th Flr., Aayakar Bhavan, M.K. Complex, Road, Mumbai-400051. Mumbai-400020. Pan No. Aaacj 4323 N Appellant Respondent

For Appellant: Mr. Danesh Bafna &For Respondent: Mr. Achal Sharma, CIT-DR

Section 14ASection 37(1)

…tating earthquake. The computation of subsidy may be on the basis of sales tax or excise duty. But, nevertheless, the purpose test would ensure that, the subsidy was capital in nature. The Hon'ble Kolkata High Court in the case of Shyam Steel Industries Ltd. (303 CTR 628) had expressed similar view and held that purpose test is most relevant to decide the nature of subsidy. The sum and substance of the ratio laid down by Hon'ble Supreme Court and various High Courts are that if the assistance/subsidy was given to enable to set up a new unit or to expand the existing unit in the backward area, the receipt of the s…

Prism Cement Ltd, Mumbai vs. DCIT CC 6(1), Mumbai

ITA 804/MUM/2018[2012-13]Status: DisposedITAT Mumbai04 Jan 2021AY 2012-13

Bench: Shri C. N. Prasad, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 804 & 805/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2012-13 & 2011-12)

For Appellant: Shri Vijay Mehta, ARFor Respondent: Shri V. Sreekar, DR

Section 115JSection 143(1)Section 143(2)Section 14A

…ated 30.11.2015 ii) CIT v. Ponni Sugars & Chemicals Ltd [306 ITR 392 (SQ] iii) Shree Balaji Alloys v. CIT [333 ITR 335 (J&K)] upheld by Hon'ble Supreme Court (287 CTR 459) iv) CIT v. Chaphalkar Brothers [400 ITR 279 (SQ] v) PCIT v. Shyam Steel Industries [303 CTR 628 (Cal)] 40. On the other hand, Ld. DR submitted that Ld. CIT(A) has considered the facts and issue raised by the assessee before him and Ld. CIT(A) rejected the contentions of the assessee by giving reasoning and relying on relevant case law. He supported the findings of Ld. CIT(A) that all the subsidy are having revenue character and he relied i…

DCIT, Ltu-2, Kolkata vs. M/S Century Plyboards (I), Ltd, Kolkata

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

ITA 2149/KOL/2019[2014-15]Status: DisposedITAT Kolkata04 Nov 2020AY 2014-15

Bench: Shri P.M. Jagtap(Kz) &Shri A. T. Varkey, Jm] Assessment Year: 2014-15

Section 10(34)Section 115JSection 14A

…1 ITA No. 2149/Kol/2019 & C.O. No. 22/Kol/2020 M/s Century Plyboards (I) Ltd. A.Y. 2014-15 आयकर अपील"य अधीकरण, "यायपीठ –“C” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA (सम")"ी पी. एम.जगताप,उपा"य" एवं "ी ए.ट". वक!,"या"यक सद$य) [Before Shri P.M. Jagtap, Vice President (KZ) &Shri A. T. Varkey, JM] Assessment Year: 2014-15 DCIT, Circle-2, LTU, Kolkata Vs. M/s Century Plyboards (I) Ltd. (PAN: AABCC 1682 J) Appellant Respondent & C.O. No. 22/Kol/2020 In ITA No.2149/Kol/2019 Assessment Year: 2014-15 M/s Century Plyboards (I) Ltd. Vs. DCIT, Circle-2, LTU, Kolkata (PAN: AABCC 1682 J) Cross Objec…

M/S Steel Strips Wheels Limited, Chandigarh vs. DCIT, CC-II, Chandigarh

In the result, appeal of the Department is dismissed and that of the assessee is allowed

ITA 1287/CHANDI/2018[2013-14]Status: DisposedITAT Chandigarh27 Feb 2020AY 2013-14

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Dr. G.S. Phani Kishore, CIT(DR)

…eipt and thus not taxable in the hands of the assessee. Reliance was placed on the following case laws: • CIT-1, Kohlapur Vs. Chaphalkar Brothers Pune reported at [2018] 400 ITR 279 (SC) • Pr. CIT-1, Kolkata Vs. Shyam Steel Industries Ltd. reported at [2018] 303 CTR 628 (Calcutta) • CIT- Kol-IIk Vs. Keventer Agro Ltd. reported at [2018] 256 Taxman 437 (Calcutta) • LG Electronics India (P.) Ltd. Vs. ACIT reported at [2017] 187 TTJ 470 (Del Trib.) • Pr. CIT Vs. M/s Nitin Spinners Ltd. in ITA No. 31/2019 dt. 19/09/2019 (Jodh Trib) • CIT Vs. Ponni Sugars and Chemicals reported at [2008] 306 ITR 392 (SC) 21. In his…

DCIT, CC-II, Chandigarh vs. M/S Steel Strips Wheels Limited, Chandigarh

In the result, appeal of the Department is dismissed and that of the assessee is allowed

ITA 1233/CHANDI/2018[2013-14]Status: DisposedITAT Chandigarh27 Feb 2020AY 2013-14

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Dr. G.S. Phani Kishore, CIT(DR)

Commissioner of of Income Tax, Kolkata - I vs. M/S. Birla Corporation Ltd

ITA/233/2007HC Calcutta22 Jun 2007

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani

Section 4A