R.B. Bansilal Abhirchand Spng & Wvng Mills v. CIT

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

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

Bench: Shri Saktijit Dey & Shri N.K. Billaiya

…in use. Besides placing reliance on the decisions reported in Setia Plastic Industries: 316 ITR 133(Del.), R.B. 379 ITA No.-6021/Del/2012 36 Bansilal Abhirchand Spng & Wvng Mills v. CIT: 75 ITR 260 (Bom.), Surat District Co-operative Milk Producers Union Ltd: 99 TTJ 390 (Ahd.), Geetanjali Woollens Pvt.Ltd.v. ACIT: (1991) 121 CTR (Trib) (Ahd.), and ITO vs. Himalaya Drug Company : 17 TTJ 9 (Del.) Ld. AR submitted that the issue is squarely covered in favour of appellant by ITAT orders for assessment years 1999- 2000 to 2002-03, AY 2005-06, 2006-07 and 2007-08. 5.1. Per contra, it is the argument of the Ld. DR that…

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

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

Bench: Shri N.K. Saini & Shri K.N. Charry

…t is in use. Besides placing reliance on the decisions reported in Setia Plastic Industries: 316 ITR 133(Del.), R.B. ITA No.-6021/Del/2012 Bansilal Abhirchand Spng & Wvng Mills v. CIT: 75 ITR 260 (Bom.), Surat District Co-operative Milk Producers Union Ltd: 99 TTJ 390 (Ahd.), Geetanjali Woollens Pvt.Ltd.v. ACIT: (1991) 121 CTR (Trib) (Ahd.), and ITO vs. Himalaya Drug Company : 17 TTJ 9 (Del.) Ld. AR submitted that the issue is squarely covered in favour of appellant by ITAT orders for assessment years 1999-2000 to 2002-03, AY 2005-06, 2006-07 and 2007-08. 5.1. Per contra, it is the argument of the Ld. DR that t…

ACIT, Noida vs. M/S. Prisma Electronics, Noida

In the result, appeal of the Revenue is dismissed

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘F’ NEW DELHI BEFORE SH. H.S. SIDHU, JUDICIAL MEMBER AND SH. O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2008-09 Vs. M/s. Prisma Electronics, B-14, ACIT, Circle-1, G-Block Shopping Complex, Sector-20, Phase-II, Noida. Noida PAN : AAFFP7026A (Appellant) (Respondent) Appellant by Sh. Ankur Garg, CIT(DR) Respondent by Sh. Rohit Jain, Adv. & Ms. Shaily Gupta Date of hearing 22.08.2016 Date of pronouncement 19.10.2016 ORDER PER O.P. KANT, A.M.: This appeal by the Revenue is directed against the order dated 12/01/2012 passed by the learned Commissioner of Income-tax…

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal is allowed

Bench: Shri I.C. Sudhir & Shri L.P. Sahu Assessment Year: 2007-08 Assessment Year: 2007-08 Maruti Suzuki India Ltd., Vs. Additional Cit, Plot No.1, Nelson Mandela Road, Range-6, Vasant Road, New Delhi. New Delhi. (Pan: Aaacm0829Q) (Appellant) (Respondent) Assessee By: S/Shri Ajay Vohra, Sr. Adv. Neeraj Jain, Rohit Jain, Adv. Romit Katyal & Ms. Tejasvi Jain, Cas Department By:Shri Amrendra Kumar, Cit(Dr)

…onceived and untenable. Reliance, in this regard, is placed on the following decisions: Setia Plastic Industries: 206 CTR 484 (Del.)   R.B. Bansilal Abhirchand Spng & Wvng Mills v. CIT: 75 ITR 260 (Bom.) Surat District Co-operative Milk Producers Union Ltd: 99 TTJ 390 (Ahd.)  Geetanjali Woollens Pvt.Ltd.v. ACIT: (1991) 121 CTR (Trib) (Ahd.)   ITO vs. Himalaya Drug Company : 17 TTJ 9 (Del.) In the assessment order, the assessing officer has accepted the system of accounting being followed by the assessee. However, the assessing officer held that the error in the accounting entry cannot be accepted even if the…