Reliance Trading Corporation v. ITO

376 ITR 53High Court2015#20773 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2012 to 2020.

Judgments citing Reliance Trading Corporation v. ITO

THE ASSTT. COMMISSIONER OF INCOME TAX, VAPI CIRCLE,, VAPI vs. M/S. MITSU LIMITED,, DAMAN

In the result, the appeal of the Revenue is dismissed

ITA 3510/AHD/2016[2000-01]Status: DisposedITAT Surat04 May 2020AY 2000-01

Bench: Shri Sandip Gosain & Shri O. P. Meenav. ""यथ"/Respondent आ.अ.सं././././I "नधा"र अपीलाथ" Appellant S .T.A No. ण N वष"/A Y: 1 1671/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2006 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 2 1371/Ah 2002- Assistant V. M/S. Mitsu Limited, D/2006 03 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q Co.No.1 2002- M/S. Mitsu Limited, V. Assistant 3 84/Ahd/ 03 304/2, Iind Phase, Commissioner Of 2006 Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 4 1672/Ah 2003- M/S. Mitsu Limited, V. Assistant D/2006 04 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 5 1764/Ah 2003- Assistant V. M/S. Mitsu Limited, D/2006 04 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q 6 1000/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2016 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 7 3510/Ah 2000- Assistant V. M/S. Mitsu Limited, D/2016 01 Commissioner Of Page 2 Of 83 Mitsu Ltd. V. Acit- Vapi/I.T.A. No.1671-1371,Co-184,1672-1764,1614 &1000/Ahd/2006/A.Y.02-03,03-04,06-07.02-03 Income Tax-Vapi 304/2, Iind Phase, Circle, Vapi Gidc, Vapi 396195 Pan: Aaccm 2764 Q

Section 143

…ave heard the rival submissions and perused the relevant material on record. We find that the issue under consideration is squarely covered by the decision of full bench of Hon`ble Rajasthan High Court in the case of Reliance Trading Corporation v. ITO [2015] 376 ITR 53 (Raj.) wherein it was held as under: “26. Mr. R.B. Mathur, learned counsel appearing for the IT Department, has referred to the cases relating to the deductions on export profits under s.80HHC and has relied on direct and proximate test, in submitting that where the interest has no direct or proximate nexus with the business of export, such intere…

M/S. MITSU PRIVATE LIMITED,,VAPI vs. THE ACIT, VAPI CIRCLE,, VAPI

In the result, the appeal of the Revenue is dismissed

ITA 1000/AHD/2016[2002-03]Status: DisposedITAT Surat04 May 2020AY 2002-03

Bench: Shri Sandip Gosain & Shri O. P. Meenav. ""यथ"/Respondent आ.अ.सं././././I "नधा"र अपीलाथ" Appellant S .T.A No. ण N वष"/A Y: 1 1671/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2006 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 2 1371/Ah 2002- Assistant V. M/S. Mitsu Limited, D/2006 03 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q Co.No.1 2002- M/S. Mitsu Limited, V. Assistant 3 84/Ahd/ 03 304/2, Iind Phase, Commissioner Of 2006 Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 4 1672/Ah 2003- M/S. Mitsu Limited, V. Assistant D/2006 04 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 5 1764/Ah 2003- Assistant V. M/S. Mitsu Limited, D/2006 04 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q 6 1000/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2016 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 7 3510/Ah 2000- Assistant V. M/S. Mitsu Limited, D/2016 01 Commissioner Of Page 2 Of 83 Mitsu Ltd. V. Acit- Vapi/I.T.A. No.1671-1371,Co-184,1672-1764,1614 &1000/Ahd/2006/A.Y.02-03,03-04,06-07.02-03 Income Tax-Vapi 304/2, Iind Phase, Circle, Vapi Gidc, Vapi 396195 Pan: Aaccm 2764 Q

Section 143

…ave heard the rival submissions and perused the relevant material on record. We find that the issue under consideration is squarely covered by the decision of full bench of Hon`ble Rajasthan High Court in the case of Reliance Trading Corporation v. ITO [2015] 376 ITR 53 (Raj.) wherein it was held as under: “26. Mr. R.B. Mathur, learned counsel appearing for the IT Department, has referred to the cases relating to the deductions on export profits under s.80HHC and has relied on direct and proximate test, in submitting that where the interest has no direct or proximate nexus with the business of export, such intere…

The Commissioner of Income Tax 2 vs. Pentakota Venkata Rao

The appeal stands dismissed

ITTA/11/2005HC Telangana15 Jun 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

For Respondent: Mr. Anuroop Singhi
Section 56Section 80H

…enditure?” 3. In view of the settled legal position, both the issues are (2 of 2) [ITA-11/2005] squarely covered by decision of this court in M/s. Reliance Trading Corporation vs. The ITO, Ward No.2(3), Jaipur & Anr. decided on 1.5.2015 reported in (2015) 376 ITR 53 wherein it has been held as under:- “41. While applying the direct and proximate nexus test, we are of the view that where the interest earned does not have direct and proximate nexus, with the income from the business of export, the interest cannot be deducted as income from export under Section 80HHC (3)(a) of the Act, and has to be given…

Commissioner of Income Tax vs. M/s.Kakinada Co-operative Town Bank Limited

Appeals stands disposed of in the

ITTA/571/2011HC Telangana28 Feb 2012

Bench: GODA RAGHURAM,M.S.RAMACHANDRA RAO

Section 80

…. Thus, the Tribunal was correct and justified. 30. We have considered the arguments advanced by counsel for the parties and in our view, the judgment rendered by Larger Bench of this Court in the case of Reliance Trading Corporation Vs. ITO : (2015) 376 ITR 53 (FB-Raj.) and Division Bench of this Court in the case of CIT & ors. Vs. Vimal Chand Surana and ors., DB Income Tax Reference No.4/2003 and other connected cases, decided on 11/09/2015, is squarely applicable on the facts of the instant case and we quote the relevant observations : “The Larger Bench of this court has taken in…

Reliance Trading Corporation v. ITO (376 ITR 53) — Cited in 4 Judgments | BharatTax