Punjab & Haryana in Porrits & Spencer (Asia) Ltd. v. CIT

329 ITR 222High Court2010#12633 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 348,254 Indian tax judgments — from 2018 to 2021.

Judgments citing Punjab & Haryana in Porrits & Spencer (Asia) Ltd. v. CIT

Surya Kant Gupta, Gurgaon vs. ITO Ward - 4(2), Gurgaon

Appeal of the assessee is allowed

ITA 7828/DEL/2019[2015-16]Status: DisposedITAT Delhi18 Aug 2021AY 2015-16

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

Section 55(2)(aa)

…oldings B V Vs. UOI (2012) 341 ITR 1 (Supreme Court) (ii) CIT Vs. Walfort Shares and Stock Broker Pvt. Ltd. (201) 326 ITR 1 (Supreme Court) (iii)UOI Vs. Azadi Bachao Andolan (2003) 263 ITR 706 (Supreme Court) (iv) Porrits & Spencerr (Asia) Ltd. Vs. CIT (2010) 329 ITR 222 (P &H High Court) (v) Banyan & Berry Vs. CIT(1996) 222 ITR 831 (Gujrat High Court ) (vi) CIT Vs. Special Prints Ltd. (2013) 356 ITR 404 (Gujrat High Court) 5 Bhourka Engineering Industry Ltd. Vs. DCIT (2013) 356 ITR 25 (Karnataka High Court). 6. The Ld. AR submitted that Lower Authorities have erred in the activity of dealing in shares of HCL T…

Khorakiwala Holdings and Investments Pvt. Ltd., Mumbai vs. Asst CIT 14(2(1), Mumbai

Appeal is dismissed

ITA 2177/MUM/2019[2013-14]Status: DisposedITAT Mumbai29 Jan 2020AY 2013-14

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2013-14

For Appellant: Dr. K. Shivaram, A.R. &For Respondent: Shri B. Srinivas, D.R &
Section 14ASection 2(22)(e)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “H”, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER Assessment Year: 2013-14 M/s. Khorakiwala The Assistant Holdings and Investments Commissioner of Income Pvt. Ltd., Tax-14(2)(1), Wockhardt Towers, Vs. Aayakar Bhavan, Bandra Kurla Complex, M.K. Road, Bandra (East), Mumbai - 400020 Mumbai PAN: AAACK1955D (Appellant) (Respondent) Assessment Year: 2013-14 The DCIT -14(2)(1), M/s. Khorakiwala Room No.432, 4th Floor, Holdings and Investments Aayakar Bhavan, Pvt. Ltd., M.K. Road, Vs. Wockhardt Towers, Marine Lines, Bandr…

ACIT (Cir.) - 6(1)(2), Mumbai vs. Bhandar Power Ltd., Mumbai

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

ITA 6061/MUM/2016[2010-11]Status: DisposedITAT Mumbai31 May 2019AY 2010-11

Bench: Shri Mahavir Singh & Shri Rajesh Kumar

For Appellant: Shri Anuj Kisnadwala, A.RFor Respondent: Shri Chaudhary Arunkumar Singh, D.R
Section 143(1)Section 143(2)Section 80I

…it has not resorted to abusive tax planning. In this respect, the appellant has placed reliance on the decision of the Punjab & Haryana High Court in the case of CIT vs. Punjab State Electricity Board, 320 ITR 469 and Porrits and Spencer (Asia) Ltd. vs. CIT, 329 ITR 222 as well as the Hon'ble Supreme Court decision in the case of Vodafone International Holdings B.V. vs. Union of India, 341 ITR 1. The Hon'ble Apex Court has comprehensively dealt with the issue of tax planning visa-vis colourable and abusive tax planning. As a matter of fact, in the present case, various PPAs have been executed by the appellant-co…

Assistant Commissioner of Income-Tax vs. Sunil Haripant Pophale, Nashik

In the result, the appeal of assessee in ITA No

ITA 448/PUN/2014[2010-11]Status: DisposedITAT Pune22 Apr 2019AY 2010-11

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita No.322/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 Mr. Sunil Haripant Pophale, C/O Vadivarhe Specialty Chemicals Ltd., Gat No.204, Nashik Mumbai Highway, Vadivarhe, अऩीऱाथी/Appellant Nashik – 422403 …. Pan: Aahpp4573G Vs. The Jt. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Range – 2, Nashik आयकर अपीऱ सं. / Ita No.448/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle – 2, Nashik …. Vs. Mr. Sunil Haripant Pophale, C/O Vadivarhe Specialty Chemicals Ltd., Gat No.204, Nashik Mumbai Highway, Vadivarhe, …. प्रत्यथी / Respondent Nashik – 422403 Pan: Aahpp4573G आयकर अपीऱ सं. / Ita No.301/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 Smt. Sunita Ajay Ramnathkar, 22, Parijat, 95 Marine Drive, अऩीऱाथी/Appellant Mumbai – 400002 …. Pan: Aafpr1193J Vs. The Asst. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Circle – 2, Nashik

For Appellant: Shri Sunil PathakFor Respondent: Shri S.B. Prasad, CIT
Section 143(3)

…ory provisions and is achieved within four corners of law but the same is entered into as part of tax planning, then no fault can be found with such a transaction. 27. The Hon’ble High Court of Punjab & Haryana in Porrits & Spencer (Asia) Ltd. Vs. CIT (2010) 329 ITR 222 (P&H) has laid down similar proposition and ITA Nos.301 & 447/PUN/2014 also the Hon’ble High Court of Calcutta in Eveready Industries India Ltd. Vs. CIT & Anr. (2011) 334 ITR 413 (Cal). 28. Applying the said principles to the facts of present case, we thus, find no merit in the stand of Assessing Officer that the transaction of booking loss by s…

Assistant Commissioner of Income-Tax vs. Smt. Sunita Ajay Ramnathkar, Mumbai

In the result, the appeal of assessee in ITA No

ITA 447/PUN/2014[2010-11]Status: DisposedITAT Pune22 Apr 2019AY 2010-11

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita No.322/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 Mr. Sunil Haripant Pophale, C/O Vadivarhe Specialty Chemicals Ltd., Gat No.204, Nashik Mumbai Highway, Vadivarhe, अऩीऱाथी/Appellant Nashik – 422403 …. Pan: Aahpp4573G Vs. The Jt. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Range – 2, Nashik आयकर अपीऱ सं. / Ita No.448/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle – 2, Nashik …. Vs. Mr. Sunil Haripant Pophale, C/O Vadivarhe Specialty Chemicals Ltd., Gat No.204, Nashik Mumbai Highway, Vadivarhe, …. प्रत्यथी / Respondent Nashik – 422403 Pan: Aahpp4573G आयकर अपीऱ सं. / Ita No.301/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 Smt. Sunita Ajay Ramnathkar, 22, Parijat, 95 Marine Drive, अऩीऱाथी/Appellant Mumbai – 400002 …. Pan: Aafpr1193J Vs. The Asst. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Circle – 2, Nashik

For Appellant: Shri Sunil PathakFor Respondent: Shri S.B. Prasad, CIT
Section 143(3)

…ory provisions and is achieved within four corners of law but the same is entered into as part of tax planning, then no fault can be found with such a transaction. 27. The Hon’ble High Court of Punjab & Haryana in Porrits & Spencer (Asia) Ltd. Vs. CIT (2010) 329 ITR 222 (P&H) has laid down similar proposition and ITA Nos.301 & 447/PUN/2014 also the Hon’ble High Court of Calcutta in Eveready Industries India Ltd. Vs. CIT & Anr. (2011) 334 ITR 413 (Cal). 28. Applying the said principles to the facts of present case, we thus, find no merit in the stand of Assessing Officer that the transaction of booking loss by s…

Sunil Haripant Pophale, Nashik vs. Joint Commissioner of Inocme-Tax

In the result, the appeal of assessee in ITA No

ITA 322/PUN/2014[2010-11]Status: DisposedITAT Pune22 Apr 2019AY 2010-11

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita No.322/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 Mr. Sunil Haripant Pophale, C/O Vadivarhe Specialty Chemicals Ltd., Gat No.204, Nashik Mumbai Highway, Vadivarhe, अऩीऱाथी/Appellant Nashik – 422403 …. Pan: Aahpp4573G Vs. The Jt. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Range – 2, Nashik आयकर अपीऱ सं. / Ita No.448/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle – 2, Nashik …. Vs. Mr. Sunil Haripant Pophale, C/O Vadivarhe Specialty Chemicals Ltd., Gat No.204, Nashik Mumbai Highway, Vadivarhe, …. प्रत्यथी / Respondent Nashik – 422403 Pan: Aahpp4573G आयकर अपीऱ सं. / Ita No.301/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 Smt. Sunita Ajay Ramnathkar, 22, Parijat, 95 Marine Drive, अऩीऱाथी/Appellant Mumbai – 400002 …. Pan: Aafpr1193J Vs. The Asst. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Circle – 2, Nashik

For Appellant: Shri Sunil PathakFor Respondent: Shri S.B. Prasad, CIT
Section 143(3)

…ory provisions and is achieved within four corners of law but the same is entered into as part of tax planning, then no fault can be found with such a transaction. 27. The Hon’ble High Court of Punjab & Haryana in Porrits & Spencer (Asia) Ltd. Vs. CIT (2010) 329 ITR 222 (P&H) has laid down similar proposition and ITA Nos.301 & 447/PUN/2014 also the Hon’ble High Court of Calcutta in Eveready Industries India Ltd. Vs. CIT & Anr. (2011) 334 ITR 413 (Cal). 28. Applying the said principles to the facts of present case, we thus, find no merit in the stand of Assessing Officer that the transaction of booking loss by s…

Smt. Sunita Ajay Ramnathkar, Mumbai vs. Assistant Commissioner of Income-Tax

In the result, the appeal of assessee in ITA No

ITA 301/PUN/2014[2010-11]Status: DisposedITAT Pune22 Apr 2019AY 2010-11

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita No.322/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 Mr. Sunil Haripant Pophale, C/O Vadivarhe Specialty Chemicals Ltd., Gat No.204, Nashik Mumbai Highway, Vadivarhe, अऩीऱाथी/Appellant Nashik – 422403 …. Pan: Aahpp4573G Vs. The Jt. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Range – 2, Nashik आयकर अपीऱ सं. / Ita No.448/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle – 2, Nashik …. Vs. Mr. Sunil Haripant Pophale, C/O Vadivarhe Specialty Chemicals Ltd., Gat No.204, Nashik Mumbai Highway, Vadivarhe, …. प्रत्यथी / Respondent Nashik – 422403 Pan: Aahpp4573G आयकर अपीऱ सं. / Ita No.301/Pun/2014 यििाारण वषा / Assessment Year : 2010-11 Smt. Sunita Ajay Ramnathkar, 22, Parijat, 95 Marine Drive, अऩीऱाथी/Appellant Mumbai – 400002 …. Pan: Aafpr1193J Vs. The Asst. Commissioner Of Income Tax, …. प्रत्यथी / Respondent Circle – 2, Nashik

For Appellant: Shri Sunil PathakFor Respondent: Shri S.B. Prasad, CIT
Section 143(3)

…ory provisions and is achieved within four corners of law but the same is entered into as part of tax planning, then no fault can be found with such a transaction. 27. The Hon’ble High Court of Punjab & Haryana in Porrits & Spencer (Asia) Ltd. Vs. CIT (2010) 329 ITR 222 (P&H) has laid down similar proposition and ITA Nos.301 & 447/PUN/2014 also the Hon’ble High Court of Calcutta in Eveready Industries India Ltd. Vs. CIT & Anr. (2011) 334 ITR 413 (Cal). 28. Applying the said principles to the facts of present case, we thus, find no merit in the stand of Assessing Officer that the transaction of booking loss by s…

Madhu Sarda, Mumbai vs. ITO 19(2)(4), Mumbai

In the result, the grounds of appeal raised by the

ITA 7410/MUM/2012[2006-07]Status: DisposedITAT Mumbai09 Mar 2018AY 2006-07

Bench: Shri B. R. Baskaran & Shri Pawan Singhin The Matter Of Mrs. Madhu Sarda , 38,Vikas Center, S.V. Road, Santacruz (West) Mumbai-400054 Pan: Aajps 5135R Appellant/ Assessee Versus Income Tax Officer, -19(4) Mumbai Respondent/ Revenue

For Respondent: Sh. V. Vidhyadhar (Sr.DR)
Section 143(3)Section 253Section 254(1)

…ited, 231 Taxman 421(Bombay) (vii) CIT vs. Shriram Investments [2017] 77 taxmann.com 113(Madras) (viii) CIT vs. Special Prints Ltd 356 ITR 404(Gujarat) (ix) ACIT vs. Biraj Investment Pvt. Ltd. 210 Taxman 418(Gujarat) (x) Porrits & Spencer (Asia) Ltd. vs. CIT, 329 ITR 222(P&H) (xi) Rupee Finance & Management Pvt. Ltd vs. ACIT 120 ITD 539(Mum) (xii) Nariman Point Building Services & Trading Pvt. Ltd vs. CIT 54 SOT 7 (Mumbai) (xiii) Tainwala Chemicals & Plastics India Ltd. vs. ACIT 47 SOT 169(Mum) (xiv) Mishapar Investments Ltd. vs. ITO, 8 SOT 532(Mum) (xv) DCIT vs. Jindal Equipment Leasing and Consultancy Services…