Rain Commodities Ltd. v. DCIT

ACIT, Cir-11(2), Kolkata vs. M/S Srei Infrastructure Finance Ltd., Kolkata

In the result, the appeal filed by the assessee and Revenue are allowed to the extent indicated above

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Srei Infrastructure Finance Ltd. Vs. Addl. Cit, Range-9, New Delhi D-2, 6Th Floor, Southern Park, Saket Place, New Delhi-110017. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Assessee) .. (Revenue/Department) Addl. Cit, Range-9, New Delhi Vs. Srei Infrastructure Finance Ltd. D-2, 6Th Floor, Southern Park, Saket Place, New Delhi-110017. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Respondent) .. (Appellant) Srei Infrastructure Finance Ltd. Vs. Dcit, Circle-11(2), Kolkata 86C, Vishwakarma, Topsia Road(South), Kolkata-700046. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Appellant) .. (Respondent) Acit, Circle-11(2), Kolkata Vs. Srei Infrastructure Finance Ltd. 86C, Vishwakarma, Topsia Road(South), Kolkata-700046. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Respondent) .. (Appellant)

…[ Hon`ble High Court Question No. (vii)]. 19. When this issue was called out for hearing, the ld. Counsel for the assessee invited our attention to the order dated 02.07.2010, passed by the Special Bench of ITAT, Hyderabad in the case of Rain Commodities Ltd 41 DTR 449 (Hyb- SB), whereby the issue has been discussed and adjudicated in favour of the Revenue. The ld. DR also submitted that the present issue is squarely covered in favour of Revenue by the above said order of the Tribunal, a copy of which is also placed before the Bench. 20. We see no reason to take any other view of the matter then the view so tak…

Srei Infrastructure Finance Limited, Kolkata vs. DCIT, Circle-11(2), Kolkata

In the result, the appeal filed by the assessee and Revenue are allowed to the extent indicated above

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Srei Infrastructure Finance Ltd. Vs. Addl. Cit, Range-9, New Delhi D-2, 6Th Floor, Southern Park, Saket Place, New Delhi-110017. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Assessee) .. (Revenue/Department) Addl. Cit, Range-9, New Delhi Vs. Srei Infrastructure Finance Ltd. D-2, 6Th Floor, Southern Park, Saket Place, New Delhi-110017. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Respondent) .. (Appellant) Srei Infrastructure Finance Ltd. Vs. Dcit, Circle-11(2), Kolkata 86C, Vishwakarma, Topsia Road(South), Kolkata-700046. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Appellant) .. (Respondent) Acit, Circle-11(2), Kolkata Vs. Srei Infrastructure Finance Ltd. 86C, Vishwakarma, Topsia Road(South), Kolkata-700046. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs1425L (Respondent) .. (Appellant)

…[ Hon`ble High Court Question No. (vii)]. 19. When this issue was called out for hearing, the ld. Counsel for the assessee invited our attention to the order dated 02.07.2010, passed by the Special Bench of ITAT, Hyderabad in the case of Rain Commodities Ltd 41 DTR 449 (Hyb- SB), whereby the issue has been discussed and adjudicated in favour of the Revenue. The ld. DR also submitted that the present issue is squarely covered in favour of Revenue by the above said order of the Tribunal, a copy of which is also placed before the Bench. 20. We see no reason to take any other view of the matter then the view so tak…

Tata Metaliks Limited, Kolkata vs. DCIT, Circle - 3(1), Kolkata

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

…nding effect as an authority. Hence, I respectfully disagree with the said judgement cited by the appellant, .However, the issue is found to be clarified by the decision of the Hyderabad Special Bench of the Tribunal in the case of Rain commodities Ltd (2010) 41 DTR 449, which is applicable to the issue. It is found that the Special Bench of the Tribunal in the aforementioned decision has held as under(short notes): "It is settled law that Assessing Officer has the power to alter the net profit. In the following two cases, the Assessing Officer can rewrite the P&L a/c i.e. to say that Assessing Officer should rec…

DCIT, Circle - 3(1), Kolkata vs. M/S. Tata Metaliks Limited, Kolkata

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

…nding effect as an authority. Hence, I respectfully disagree with the said judgement cited by the appellant, .However, the issue is found to be clarified by the decision of the Hyderabad Special Bench of the Tribunal in the case of Rain commodities Ltd (2010) 41 DTR 449, which is applicable to the issue. It is found that the Special Bench of the Tribunal in the aforementioned decision has held as under(short notes): "It is settled law that Assessing Officer has the power to alter the net profit. In the following two cases, the Assessing Officer can rewrite the P&L a/c i.e. to say that Assessing Officer should rec…

Srei Infrastructure Finance Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, this ground of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godarai.T.A. No. 1302/Del/2012 (Assessment Year: 2008-09) Acit, Circle-9(1), New Delhi....………………...…….........………………………............….Revenue/Department

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, KOLKATA Before Sri J. Sudhakar Reddy, Accountant Member & Sri S.S. Godara, Judicial Member I.T.A. No. 1302/Del/2012 (Assessment Year: 2008-09) ACIT, Circle-9(1), New Delhi....………………...…….........………………………............….Revenue/Department SREI Infrastructure Finance Ltd.…………………..................................…....….…………........…...Assessee [PAN : AAACS 1425 L] & I.T.A. No. 1318/Del/2012 (Assessment Year: 2008-09) SREI Infrastructure Finance Ltd....………………...………………………..............…..……...........…. Assessee [PAN : AAACS 1425 L] ACIT, Range-9, New Delhi.……………………

ACIT, New Delhi vs. M/S. Srei Infrastructure Finance Ltd., New Delhi

In the result, this ground of the revenue is dismissed

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godarai.T.A. No. 1302/Del/2012 (Assessment Year: 2008-09) Acit, Circle-9(1), New Delhi....………………...…….........………………………............….Revenue/Department

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, KOLKATA Before Sri J. Sudhakar Reddy, Accountant Member & Sri S.S. Godara, Judicial Member I.T.A. No. 1302/Del/2012 (Assessment Year: 2008-09) ACIT, Circle-9(1), New Delhi....………………...…….........………………………............….Revenue/Department SREI Infrastructure Finance Ltd.…………………..................................…....….…………........…...Assessee [PAN : AAACS 1425 L] & I.T.A. No. 1318/Del/2012 (Assessment Year: 2008-09) SREI Infrastructure Finance Ltd....………………...………………………..............…..……...........…. Assessee [PAN : AAACS 1425 L] ACIT, Range-9, New Delhi.……………………