Promotion and Trading Ltd V/s CIT, 423 ITR510 (DEL) 5. PCIT v. Zee Media Corporation Ltd. (423 ITR 542)

Q: What is Promotion and Trading Ltd V/s CIT, 423 ITR510 (DEL) 5. PCIT v. Zee Media Corporation Ltd. authority for?

The Supreme Court may reconsider the issue of eligibility for deduction under Section 80-IA where the assessee has incurred losses in earlier years and claims the deduction in the year it became profitable. The court also deliberated on the allowability of certain expenses claimed by the assessee.

Q: How many judgments cite Promotion and Trading Ltd V/s CIT, 423 ITR510 (DEL) 5. PCIT v. Zee Media Corporation Ltd.?

20 judgments on BharatTax cite Promotion and Trading Ltd V/s CIT, 423 ITR510 (DEL) 5. PCIT v. Zee Media Corporation Ltd. (423 ITR 542), spanning 2021 to 2025.

Q: Which sections of the Income Tax Act does Promotion and Trading Ltd V/s CIT, 423 ITR510 (DEL) 5. PCIT v. Zee Media Corporation Ltd. come up under?

It is most often cited in judgments turning on Section 115JAA, Section 143(3), Section 144C, Section 144C(10), Section 234B, Section 234D.

Joshi Technologies International Inc India Projects, Ahmedabad vs. The ACIT (Int. Taxa-1), Ahmedabad

In the result, all the three appeals filed by the assessee are partly allowed

ITA 81/AHD/2022[2018-19]Status: DisposedITAT Ahmedabad12 Dec 2025AY 2018-19

Bench: Dr. Brr Kumar & Ms. Suchitra Kambleita Nos. 80, 81 & 244/Ahd/2022 (Assessment Years 2017-18, 2018-19 & 2019-20)

For Appellant: Shri Vishal Kalra, A.RFor Respondent: Shri Sher Singh, CIT-D.R

Section 143(3)Section 32Section 80I

…R 295 (SC)] iii) DIT vs. Escorts Cardiac Diseases Hospital Society (2008) 300 ITR 75 (Del) iv) PCIT vs. Shah Virchand Govanji Jewellers (P.) Ltd. (2024) 169 taxmann.com 80/TA No. 72, 73 & 74 of 2019 (Gujarat) v) Prasad Multi Services (P.) Ltd. vs. DCIT (2020) 423 ITR 542 (Gujarat) The assessee claimed following deductions for the administrative expenses incurred: i) The HO incurred various expenses on behalf of the assessee company, out of which, expenses qualifying within definition of ‘HO expenses’ as per explanation (iv) to Section 44C of the Act were allocated to the assessee (i.e. debited to P&L account as…

Joshi Technologies International Inc India Projects, Ahmedabad vs. The ACIT (Int. Taxa-1), Ahmedabad

In the result, all the three appeals filed by the assessee are partly allowed

ITA 80/AHD/2022[2017-18]Status: DisposedITAT Ahmedabad12 Dec 2025AY 2017-18

Bench: Dr. Brr Kumar & Ms. Suchitra Kambleita Nos. 80, 81 & 244/Ahd/2022 (Assessment Years 2017-18, 2018-19 & 2019-20)

For Appellant: Shri Vishal Kalra, A.RFor Respondent: Shri Sher Singh, CIT-D.R

Section 143(3)Section 32Section 80I

…R 295 (SC)] iii) DIT vs. Escorts Cardiac Diseases Hospital Society (2008) 300 ITR 75 (Del) iv) PCIT vs. Shah Virchand Govanji Jewellers (P.) Ltd. (2024) 169 taxmann.com 80/TA No. 72, 73 & 74 of 2019 (Gujarat) v) Prasad Multi Services (P.) Ltd. vs. DCIT (2020) 423 ITR 542 (Gujarat) The assessee claimed following deductions for the administrative expenses incurred: i) The HO incurred various expenses on behalf of the assessee company, out of which, expenses qualifying within definition of ‘HO expenses’ as per explanation (iv) to Section 44C of the Act were allocated to the assessee (i.e. debited to P&L account as…

Joshi Technologies International Inc India Projects, Ahmedabad vs. Assistant Commissioner of Income Tax, Circle(Int.Taxn.)-1, Ahmedabad

In the result, all the three appeals filed by the assessee are partly allowed

ITA 244/AHD/2022[2019-20]Status: DisposedITAT Ahmedabad12 Dec 2025AY 2019-20

Bench: Dr. Brr Kumar & Ms. Suchitra Kambleita Nos. 80, 81 & 244/Ahd/2022 (Assessment Years 2017-18, 2018-19 & 2019-20)

For Appellant: Shri Vishal Kalra, A.RFor Respondent: Shri Sher Singh, CIT-D.R

Section 143(3)Section 32Section 80I

…R 295 (SC)] iii) DIT vs. Escorts Cardiac Diseases Hospital Society (2008) 300 ITR 75 (Del) iv) PCIT vs. Shah Virchand Govanji Jewellers (P.) Ltd. (2024) 169 taxmann.com 80/TA No. 72, 73 & 74 of 2019 (Gujarat) v) Prasad Multi Services (P.) Ltd. vs. DCIT (2020) 423 ITR 542 (Gujarat) The assessee claimed following deductions for the administrative expenses incurred: i) The HO incurred various expenses on behalf of the assessee company, out of which, expenses qualifying within definition of ‘HO expenses’ as per explanation (iv) to Section 44C of the Act were allocated to the assessee (i.e. debited to P&L account as…

Raja Construction, Mumbai vs. DCIT 27(3), Navi Mumbai

In the result, appeal filed by the assessee is allowed

ITA 3081/MUM/2025[2015-16]Status: DisposedITAT Mumbai30 Jun 2025AY 2015-16

Section 143(3)Section 32

…and also perused the relevant finding given in the impugned order. Before us it had been stated that this issue now stands covered by the series of decisions of the Hon'ble Gujarat High Court in the case of Prasad Multi Services (P) Ltd., vs. DCIT reported in 423 ITR 542 and in the case of Gujco Carriers vs. Commissioner of Income Tax reported in 256 ITR 50 were also relied upon the decision of the ITAT Mumbai Bench in the case of Samarth Lifters Pvt. Ltd., in ITA No. No.1781/Mum/2015. The main case of the ld. AO and ld. CIT (A) is that cranes “do not fall within the ambit of commercial vehicle, motor lorries, mo…

ACIT, Central Circle-1(1), Hyderabad vs. Ncc Limited, Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 80/HYD/2017[2011-12]Status: DisposedITAT Hyderabad31 Jan 2024AY 2011-12

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)

Section 143(1)

…tency is required to be followed. The LD.AR had relied upon the following decisions: 1. CIT vs. Excel Industries (358 ITR 295) 2. Radhaswamy Sansangh vs. CIT 193 ITR 321 3. PCIT vs. Gujarat Narmada Valley 422 ITR 164 4. Prasad Multi Services Pvt Ltd vs. DCIT 423 ITR 542 5. CIT vs. Escorts Ltd 338 ITR 485 35. In rebuttal, the learned DR submitted that the Tribunal in the case of NCC Mytas for the A.Y 2006-07 after elaborate examination of the facts had decided the issue against the assessee and our attention was drawn to Paras 9 to 17 of the said decision which is to the following effect: “9.1 The assessee's fi…

ACIT, Central Circle-1(1), Hyderabad vs. Ncc Limited, Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 79/HYD/2017[2010-11]Status: DisposedITAT Hyderabad31 Jan 2024AY 2010-11

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)

Section 143(1)

…tency is required to be followed. The LD.AR had relied upon the following decisions: 1. CIT vs. Excel Industries (358 ITR 295) 2. Radhaswamy Sansangh vs. CIT 193 ITR 321 3. PCIT vs. Gujarat Narmada Valley 422 ITR 164 4. Prasad Multi Services Pvt Ltd vs. DCIT 423 ITR 542 5. CIT vs. Escorts Ltd 338 ITR 485 35. In rebuttal, the learned DR submitted that the Tribunal in the case of NCC Mytas for the A.Y 2006-07 after elaborate examination of the facts had decided the issue against the assessee and our attention was drawn to Paras 9 to 17 of the said decision which is to the following effect: “9.1 The assessee's fi…

ACIT, Central Circle-1(1), Hyderabad vs. Ncc Limited, Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 78/HYD/2017[2009-10]Status: DisposedITAT Hyderabad31 Jan 2024AY 2009-10

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)

Section 143(1)

…tency is required to be followed. The LD.AR had relied upon the following decisions: 1. CIT vs. Excel Industries (358 ITR 295) 2. Radhaswamy Sansangh vs. CIT 193 ITR 321 3. PCIT vs. Gujarat Narmada Valley 422 ITR 164 4. Prasad Multi Services Pvt Ltd vs. DCIT 423 ITR 542 5. CIT vs. Escorts Ltd 338 ITR 485 35. In rebuttal, the learned DR submitted that the Tribunal in the case of NCC Mytas for the A.Y 2006-07 after elaborate examination of the facts had decided the issue against the assessee and our attention was drawn to Paras 9 to 17 of the said decision which is to the following effect: “9.1 The assessee's fi…

ACIT, Central Circle-1(1), Hyderabad vs. Ncc Limited, Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 77/HYD/2017[2008-09]Status: DisposedITAT Hyderabad31 Jan 2024AY 2008-09

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)

Section 143(1)

…tency is required to be followed. The LD.AR had relied upon the following decisions: 1. CIT vs. Excel Industries (358 ITR 295) 2. Radhaswamy Sansangh vs. CIT 193 ITR 321 3. PCIT vs. Gujarat Narmada Valley 422 ITR 164 4. Prasad Multi Services Pvt Ltd vs. DCIT 423 ITR 542 5. CIT vs. Escorts Ltd 338 ITR 485 35. In rebuttal, the learned DR submitted that the Tribunal in the case of NCC Mytas for the A.Y 2006-07 after elaborate examination of the facts had decided the issue against the assessee and our attention was drawn to Paras 9 to 17 of the said decision which is to the following effect: “9.1 The assessee's fi…

Ncc Limited, Hyderabad vs. DCIT, Central Circle-1(1), Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 75/HYD/2017[2010-11]Status: DisposedITAT Hyderabad31 Jan 2024AY 2010-11

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)

Section 143(1)

…tency is required to be followed. The LD.AR had relied upon the following decisions: 1. CIT vs. Excel Industries (358 ITR 295) 2. Radhaswamy Sansangh vs. CIT 193 ITR 321 3. PCIT vs. Gujarat Narmada Valley 422 ITR 164 4. Prasad Multi Services Pvt Ltd vs. DCIT 423 ITR 542 5. CIT vs. Escorts Ltd 338 ITR 485 35. In rebuttal, the learned DR submitted that the Tribunal in the case of NCC Mytas for the A.Y 2006-07 after elaborate examination of the facts had decided the issue against the assessee and our attention was drawn to Paras 9 to 17 of the said decision which is to the following effect: “9.1 The assessee's fi…

Ncc Limited, Hyderabad vs. DCIT, Central Circle-1(1), Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 74/HYD/2017[2009-10]Status: DisposedITAT Hyderabad31 Jan 2024AY 2009-10

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)

Section 143(1)

…tency is required to be followed. The LD.AR had relied upon the following decisions: 1. CIT vs. Excel Industries (358 ITR 295) 2. Radhaswamy Sansangh vs. CIT 193 ITR 321 3. PCIT vs. Gujarat Narmada Valley 422 ITR 164 4. Prasad Multi Services Pvt Ltd vs. DCIT 423 ITR 542 5. CIT vs. Escorts Ltd 338 ITR 485 35. In rebuttal, the learned DR submitted that the Tribunal in the case of NCC Mytas for the A.Y 2006-07 after elaborate examination of the facts had decided the issue against the assessee and our attention was drawn to Paras 9 to 17 of the said decision which is to the following effect: “9.1 The assessee's fi…

Ncc Limited, Hyderabad vs. DCIT, Central Circle-1(1), Hyderabad

Accordingly, we delete the same. Thus, this ground is partly allowed

ITA 73/HYD/2017[2008-09]Status: DisposedITAT Hyderabad31 Jan 2024AY 2008-09

Bench: Shri R.K. Panda, Vice- & Shri Laliet Kumar

For Appellant: Shri Vijay Mehta, CA &For Respondent: Shri K. Madhusudan, CIT(DR)

Section 143(1)

…tency is required to be followed. The LD.AR had relied upon the following decisions: 1. CIT vs. Excel Industries (358 ITR 295) 2. Radhaswamy Sansangh vs. CIT 193 ITR 321 3. PCIT vs. Gujarat Narmada Valley 422 ITR 164 4. Prasad Multi Services Pvt Ltd vs. DCIT 423 ITR 542 5. CIT vs. Escorts Ltd 338 ITR 485 35. In rebuttal, the learned DR submitted that the Tribunal in the case of NCC Mytas for the A.Y 2006-07 after elaborate examination of the facts had decided the issue against the assessee and our attention was drawn to Paras 9 to 17 of the said decision which is to the following effect: “9.1 The assessee's fi…

ACIT, Circle-2(1)(1), Income Tax Department vs. S D Material Handlers Private Limited, Surat

In the result, the appeal of the Revenue is dismissed

ITA 499/SRT/2023[2013-14]Status: DisposedITAT Surat21 Dec 2023AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.499/Srt/2023 (िनधा"रणवष" / Assessment Year: (2013-14) (Hybrid Hearing) Assistant Commissioner Of M/S S D Material Handlers Pvt. Ltd. Income-Tax, Circle-2(1)(1), Surat Vs. 405-408, Shivalik Western, L.P. Room No.612, 6Th Floor, Aayakar Savani Road, Adajan Adajan Bhavan, Near Majura Gate, Bo, Surat-395009 Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaccd 3481B (अपीलाथ" /Assessee) (""थ"/Respondent)

For Appellant: Shri Sapnesh R Sheth, CAFor Respondent: Shri Vinod Kumar, Sr-DR

Section 142(1)Section 143(1)Section 143(3)Section 263Section 36(1)(va)

…see is entitled to claim higher depreciation, and the issue was considered by various judicial forums across India. The Hon’ble jurisdictional High Court of Gujarat in the case of Prasad Multi Services (P.) Ltd. vs. DCIT [2020] 122 taxmann.com 73 (Guj)/[2020] 423 ITR 542 (Guj)[16-07-2019], held as follows: “24. It is not in dispute that similar issued had cropped up in the Assessment Year 2007- 08, and after due consideration of all the relevant aspects of the matter, the Assessing Officer had granted depreciation at the rate of 30%. The very same cranes are involved in the present Tax Appeal which were the subje…