R N Gupta Co Ltd. v. CIT

351 ITR 369Reported decision#11555 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2018 to 2020.

Judgments citing R N Gupta Co Ltd. v. CIT

M/S. Nicholas Piramal India Ltd., Mumbai vs. ACIT Cir. - 7(1), Mumbai

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

ITA 3927/MUM/2006[2002-2003]Status: DisposedITAT Mumbai20 Feb 2020AY 2002-2003

Bench: Shri Mahavir Singh, Jm & Shri M.Balaganesh, Am M/S. Piramal Enterprises Ltd. Vs. Addl. Commissioner Of Income Tax (Formerly Known As Piramal Circle 7(1), Aayakar Bhavan Healthcare Ltd.,) Mumbai - 400020 (Before Known As Nicholas Piramal India Ltd.,) Piramal Tower, Ganpatrao Kadam Marg Lower Parel, Mumbai-400013 Pan/Gir No.Aaacn4538P (Appellant) .. (Respondent) Addl. Commissioner Of Vs. M/S. Piramal Enterprises Ltd. Income Tax (Formerly Known As Piramal Healthcare Circle 7(1), Aayakar Ltd.,) Bhavan (Before Known As Nicholas Piramal India Mumbai - 400020 Ltd.,) Piramal Tower, Ganpatrao Kadam Marg Lower Parel, Mumbai-400013 Pan/Gir No.Aaacn4538P (Appellant) .. (Respondent) Assessee By Shri Ronak Joshi Revenue By Shri Kumar Padmapani Bora Date Of Hearing 29/11/2019 Date Of Pronouncement 20/02 /2020 आदेश / O R D E R Per M. Balaganesh (A.M): These Cross Appeals In Ita Nos.3927/Mum/2006 & 4066/Mum/2006 For A.Y.2002-03 Arises Out Of The Order By The Ld. Commissioner Of Income Tax (Appeals)-Xix, Mumbai In Appeal No.Cit(A)Xix/It-104/05-06 Dated 31/03/2006 (Ld. Cit(A) In Short) Against The Order Of Assessment Passed U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As Act) Dated 31/03/2005 By The Ld. Addl. Commissioner Of Income Tax, Range 7(1), Mumbai (Hereinafter Referred To As Ld. Ao). M/S. Piramal Enterprises Ltd.

Section 143(3)

…putation of deduction u/s 80HHC of the Act :- a) Hon‟ble Bombay High Court in the case of CIT vs Pfizer Ltd reported in 330 ITR 62 (Bom) in respect of insurance claim. b) Hon‟ble Punjab and Haryana High Court in the case of R N Gupta Co Ltd vs CIT reported in 351 ITR 369 in respect of sale of scrap. c) Decision of Pune Tribunal in the case of ACIT vs GKN Sinter Metal P Ltd reported in 153 ITD 311 in respect of cash discount. 9.1. Respectfully following the aforesaid decisions, we decide the Ground No. VI raised by the assessee in favour of the assessee. 10. Ground Nos. VII, VIII and IX of assessee appeal and gr…

ACIT, Ludhiana vs. M/S Vardhman Textiles Ltd., Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 575/CHANDI/2009[2005-06]Status: DisposedITAT Chandigarh04 May 2018AY 2005-06

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…of Kangaro Industries in ITA 23/CHD/2007 for the A.Y. 2004-05 wherein it was held that the case of manufacturing, sale of scrap is not to be reduced from the total turnover and profits of the business. 15.3 Before us, Ld. AR relied on the case of R.N. Gupta 351 ITR 369 wherein it was held as under: “(i) Whether in facts and circumstances of the case, the action of the ld. authorities below in ignoring the fact that scrap is incidental to manufacturing of finished good and no expense is incurred for the same and therefore the entire scrap sale forms part of business profit and thus includible for the computatio…

M/S Vardhman Textiles Ltd., Ludhiana vs. Addl. CIT, Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 528/CHANDI/2009[2005-06]Status: DisposedITAT Chandigarh04 May 2018AY 2005-06

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…of Kangaro Industries in ITA 23/CHD/2007 for the A.Y. 2004-05 wherein it was held that the case of manufacturing, sale of scrap is not to be reduced from the total turnover and profits of the business. 15.3 Before us, Ld. AR relied on the case of R.N. Gupta 351 ITR 369 wherein it was held as under: “(i) Whether in facts and circumstances of the case, the action of the ld. authorities below in ignoring the fact that scrap is incidental to manufacturing of finished good and no expense is incurred for the same and therefore the entire scrap sale forms part of business profit and thus includible for the computatio…

ACIT, Ludhiana vs. M/S Vardhman Textiles Ltd., Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 981/CHANDI/2008[2004-05]Status: DisposedITAT Chandigarh04 May 2018AY 2004-05

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…of Kangaro Industries in ITA 23/CHD/2007 for the A.Y. 2004-05 wherein it was held that the case of manufacturing, sale of scrap is not to be reduced from the total turnover and profits of the business. 15.3 Before us, Ld. AR relied on the case of R.N. Gupta 351 ITR 369 wherein it was held as under: “(i) Whether in facts and circumstances of the case, the action of the ld. authorities below in ignoring the fact that scrap is incidental to manufacturing of finished good and no expense is incurred for the same and therefore the entire scrap sale forms part of business profit and thus includible for the computatio…

Vardhman Textiles Ltd., Ludhiana vs. JCIT, Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 938/CHANDI/2008[2004-05]Status: DisposedITAT Chandigarh04 May 2018AY 2004-05

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…of Kangaro Industries in ITA 23/CHD/2007 for the A.Y. 2004-05 wherein it was held that the case of manufacturing, sale of scrap is not to be reduced from the total turnover and profits of the business. 15.3 Before us, Ld. AR relied on the case of R.N. Gupta 351 ITR 369 wherein it was held as under: “(i) Whether in facts and circumstances of the case, the action of the ld. authorities below in ignoring the fact that scrap is incidental to manufacturing of finished good and no expense is incurred for the same and therefore the entire scrap sale forms part of business profit and thus includible for the computatio…

ACIT, Ludhiana vs. M/S Vardhman Textiles Ltd., Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 530/CHANDI/2008[2003-04]Status: DisposedITAT Chandigarh04 May 2018AY 2003-04

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…of Kangaro Industries in ITA 23/CHD/2007 for the A.Y. 2004-05 wherein it was held that the case of manufacturing, sale of scrap is not to be reduced from the total turnover and profits of the business. 15.3 Before us, Ld. AR relied on the case of R.N. Gupta 351 ITR 369 wherein it was held as under: “(i) Whether in facts and circumstances of the case, the action of the ld. authorities below in ignoring the fact that scrap is incidental to manufacturing of finished good and no expense is incurred for the same and therefore the entire scrap sale forms part of business profit and thus includible for the computatio…

Vardhman Textile Ltd., Ludhiana vs. ACIT, Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 475/CHANDI/2008[2003-04]Status: DisposedITAT Chandigarh04 May 2018AY 2003-04

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…of Kangaro Industries in ITA 23/CHD/2007 for the A.Y. 2004-05 wherein it was held that the case of manufacturing, sale of scrap is not to be reduced from the total turnover and profits of the business. 15.3 Before us, Ld. AR relied on the case of R.N. Gupta 351 ITR 369 wherein it was held as under: “(i) Whether in facts and circumstances of the case, the action of the ld. authorities below in ignoring the fact that scrap is incidental to manufacturing of finished good and no expense is incurred for the same and therefore the entire scrap sale forms part of business profit and thus includible for the computatio…

ACIT, Ludhiana vs. Vardhman Textiles Ltd., Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 691/CHANDI/2007[2002-03]Status: DisposedITAT Chandigarh04 May 2018AY 2002-03

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…of Kangaro Industries in ITA 23/CHD/2007 for the A.Y. 2004-05 wherein it was held that the case of manufacturing, sale of scrap is not to be reduced from the total turnover and profits of the business. 15.3 Before us, Ld. AR relied on the case of R.N. Gupta 351 ITR 369 wherein it was held as under: “(i) Whether in facts and circumstances of the case, the action of the ld. authorities below in ignoring the fact that scrap is incidental to manufacturing of finished good and no expense is incurred for the same and therefore the entire scrap sale forms part of business profit and thus includible for the computatio…

M/S Vardhman Textiles Ltd., Ludhiana vs. ACIT, Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 681/CHANDI/2007[2002-03]Status: DisposedITAT Chandigarh04 May 2018AY 2002-03

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…of Kangaro Industries in ITA 23/CHD/2007 for the A.Y. 2004-05 wherein it was held that the case of manufacturing, sale of scrap is not to be reduced from the total turnover and profits of the business. 15.3 Before us, Ld. AR relied on the case of R.N. Gupta 351 ITR 369 wherein it was held as under: “(i) Whether in facts and circumstances of the case, the action of the ld. authorities below in ignoring the fact that scrap is incidental to manufacturing of finished good and no expense is incurred for the same and therefore the entire scrap sale forms part of business profit and thus includible for the computatio…

R N Gupta Co Ltd. v. CIT (351 ITR 369) — Cited in 9 Judgments | BharatTax