Saurashtra Cement and Chemical Industries Ltd. v. CIT

213 ITR 523High Court1995#248 most cited

What is Saurashtra Cement and Chemical Industries Ltd. v. CIT authority for?

Expenditure is deductible in the year it is determined and crystallised as a liability, even if it relates to a transaction of an earlier year, provided accounts are maintained on a mercantile basis.

311

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2010 to 2026.

Also referred to as

Saurashtra Cement and Chemical Industries Ltd. · CIT · 213 ITR 523 · deductible expenditure · mercantile basis · liability crystallised · earlier year transaction

Also reported as

11 CTR 139

Sections most often in play

Section 143(3)Section 37(1)Section 14ASection 40(a)(ia)Section 35DSection 44ABSection 10(2A)Section 143(3A)

Issues it is cited on

recognised provident fundsection 43b(f)section 50bapproved gratuity fundsection 40a(9)section 211initial assessment yearsection 35dwholly and exclusively for businesssection 80jsection 115jasection 80hhc

Judgments citing Saurashtra Cement and Chemical Industries Ltd. v. CIT

Dlf Ltd., New Delhi vs. Addl. CIT, New Delhi

ITA 2126/DEL/2013[2008-09]Status: DisposedITAT Delhi27 May 2019AY 2008-09

Bench: Shri Amit Shukla & Shri L.P. Sahu

For Appellant: Shri R.S. Singhvi & Shri SatyajeetFor Respondent: Shri Puneet Rai, Adv. Special counsel
Section 10Section 142ASection 143(3)Section 14ASection 40Section 43B

…the facts of the instant case, in which it was held that earlier years expenses could be allowed in the year in which the liability is accepted and paid. Hon’ble Gujarat High Court in the case of Saurashtra Cement and Chemicals Industries Ltd. vs. CIT (1995) 213 ITR 523 (Guj.), has held as follows: “. . . Merely because an expense relates to a transaction of an earlier year it does not become a liability payable in the earlier year unless it can be said that the liability was determined and crystallized in the year in question on the basis of maintaining accounts on the mercantile basis. In each case where the a…

West Bengal Electronics Industry Development Corporation Limited, Kolkata vs. DCIT, Corporate Circle - 2(2), Kolkata

Appeal is partly allowed in above terms

ITA 1202/KOL/2018[2012-13]Status: DisposedITAT Kolkata30 Apr 2019AY 2012-13

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godaraassessment Year: 2012-13

…nt order the AO ha added the difference of the prior period expenditure & income to the computation of total income. Reliance was placed on the ratio of decisions of the Hon'ble Gujarat High Court in Saurashtra Cement & Chemical Industries Ltd. vs. CIT (1995) 213 ITR 523 (Guj); Toy Engg. India Ltd. vs. JCIT (2006) 5 SOT 616 (TMun), ITO vs. Intrafax Engg Co [38 TTJ 551 (Del), etc. On careful consideration, it is observed that the AO held that the assessee was unable to establish whether the amount has been crystallized during the financial year or not. The onus of proving the genuineness of its claim lies squarely…

A.C.I.T Cir - 2(2), Kolkata vs. M/S West Bengal State Electricity Distribution Co Ltd, Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 1952/KOL/2017[2004-05]Status: DisposedITAT Kolkata30 Apr 2019AY 2004-05

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1952/Kol/2017 (िनधा"रणवष" / Assessment Year: 2004-05) Acit, Circle-2(2), Kolkata Vs. M/S West Bengal State Electricity Board (Now Renamed West Bengal State Electricity Distribution Co. Ltd. )

For Appellant: Shri RadheyShyam, CIT DRFor Respondent: Shri N.K. Poddar, Sr. Advocate
Section 143(3)Section 4

…ribhuvandas Shah v. CIT [1966] 59 ITR 733 (SC). Therefore, in our opinion, no question of law arises out of the order of the Tribunal ... " 11.0n similar lines, In the case of Saurashtra Cement & Chemical Industries Ltd. V. Commissioner of Income Tax, [1995] 213 ITR 523(Gujarat), the Division Bench of Gujarat High Court has expressed thus:- "Merely because an expense relates to a transaction of an earlier year it does not become a liability payable in the earlier year unless it can be said that the liability was determined and crystallized in the year in question on the basis of maintaining accounts on the merca…

Gujarat Urja Vikas Nigam Ltd., Baroda vs. The Dy.CIT, Circle-1(1), Baroda

In the result, appeal I.T

ITA 3437/AHD/2015[2008-09]Status: DisposedITAT Ahmedabad26 Apr 2019AY 2008-09
For Appellant: Shri J.P. Shah, A.RFor Respondent: Shri/Ms. Rita Dokania, Sr. D.R
Section 115JSection 143(3)Section 147Section 148Section 40

…nt and the AO's observations. The issue of allowability of any Prior Period Expense debited in the Profit & Loss Account is required to be adjudicated as per ratio laid down by the Hon'ble High Court of Gujarat in the case of Saurashtra Cement & Chemicals Ltd 213 ITR 532 (Guj). In this decision the High Court, with regard to allowability of Prior Period Expenses, has observed as under:- I.T.A Nos 3358, 1988, 3359, 3360, 3437, 2014, 3438 & 3439/Ahd/2015 Page No 12 "Having considered the material on record, we do not find any justification for the disallowance of the claim of the assesses on such an abstract prop…

The Dy.Commissioner of Income Tax, Circle-1(1)(1)(1), Vadodara vs. Gujarat Urja Vikas Nigam Ltd., Baroda

In the result, appeal I.T

ITA 3358/AHD/2015[2008-09]Status: DisposedITAT Ahmedabad26 Apr 2019AY 2008-09
For Appellant: Shri J.P. Shah, A.RFor Respondent: Shri/Ms. Rita Dokania, Sr. D.R
Section 115JSection 143(3)Section 147Section 148Section 40

…nt and the AO's observations. The issue of allowability of any Prior Period Expense debited in the Profit & Loss Account is required to be adjudicated as per ratio laid down by the Hon'ble High Court of Gujarat in the case of Saurashtra Cement & Chemicals Ltd 213 ITR 532 (Guj). In this decision the High Court, with regard to allowability of Prior Period Expenses, has observed as under:- I.T.A Nos 3358, 1988, 3359, 3360, 3437, 2014, 3438 & 3439/Ahd/2015 Page No 12 "Having considered the material on record, we do not find any justification for the disallowance of the claim of the assesses on such an abstract prop…

The Peerless General Finance & Investment Co. Ltd., Kolkata vs. DCIT, Circle - 3(1), Kolkata

In the result, appeal of the assessee in ITA No

ITA 938/KOL/2018[2010-11]Status: DisposedITAT Kolkata24 Apr 2019AY 2010-11

Bench: Shri A.T. Varkey, J.M. & Dr.A.L.Saini, A.M.)

For Appellant: Shri S.K. Tulsiyan, Advocate, ld.ARFor Respondent: Shri A.K. Singh, CIT, ld. DR
Section 143(3)Section 14ASection 37(1)Section 40A(2)(b)Section 48

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH ‘B’, KOLKATA (Before Shri A.T. Varkey, J.M. & Dr.A.L.Saini, A.M.) ITA No. 937/Kol/2018 : Asstt. Year : 2010­11 ITA No. 938/Kol/2018 : Asstt. Year : 2010­11 The Peerless General Finance & Vs D.C.I.T, Cir­3(1), Kolkata Investment Co. Ltd. PAN: AABCT 3043L ( Assessee/Assessee ) (Respondent/Department) ITA No. 1439/Kol/2018 : Asstt. Year : 2010­11 D.C.I.T, Cir­3(1), Kolkata Vs The Peerless General Finance & Investment Co. Ltd. PAN: AABCT 3043L ( Assessee/Department ) (Respondent) Assessee/Assessee by : Shri S.K. Tulsiyan, Advocate, ld.AR Respondent/Departm…

The Peerless General Finance & Investment Co. Ltd., Kolkata vs. DCIT, Circle - 3(1), Kolkata

In the result, appeal of the assessee in ITA No

ITA 937/KOL/2018[2010-11]Status: DisposedITAT Kolkata24 Apr 2019AY 2010-11

Bench: Shri A.T. Varkey, J.M. & Dr.A.L.Saini, A.M.)

For Appellant: Shri S.K. Tulsiyan, Advocate, ld.ARFor Respondent: Shri A.K. Singh, CIT, ld. DR
Section 143(3)Section 14ASection 37(1)Section 40A(2)(b)Section 48

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH ‘B’, KOLKATA (Before Shri A.T. Varkey, J.M. & Dr.A.L.Saini, A.M.) ITA No. 937/Kol/2018 : Asstt. Year : 2010­11 ITA No. 938/Kol/2018 : Asstt. Year : 2010­11 The Peerless General Finance & Vs D.C.I.T, Cir­3(1), Kolkata Investment Co. Ltd. PAN: AABCT 3043L ( Assessee/Assessee ) (Respondent/Department) ITA No. 1439/Kol/2018 : Asstt. Year : 2010­11 D.C.I.T, Cir­3(1), Kolkata Vs The Peerless General Finance & Investment Co. Ltd. PAN: AABCT 3043L ( Assessee/Department ) (Respondent) Assessee/Assessee by : Shri S.K. Tulsiyan, Advocate, ld.AR Respondent/Departm…

ACIT, Moradabad vs. M/S. Jubilant Organosyes Ltd., Uttar Pradesh

The appeal is dismissed

ITA 4975/DEL/2012[2008-09]Status: DisposedITAT Delhi12 Mar 2019AY 2008-09

Bench: Smt Beena A. Pillai & Shri Prashant Maharishi

For Appellant: Shri R.M. Gupta, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 115JSection 43(1)

…bility was determined and crystallized in year in question on basis of maintaining accounts on mercantile basis.  Hindustan Gum & Chemicals Ltd. vs. ITO [2008] 23 SOT 143 (Kolkata), (Refer Para 7.3)  Saurashtra Cement and Chemical Industries Ltd. CIT[(1995) 213 ITR 523 (Guj)], Para 10  CIT v. Shriram Piston & Rings Ltd.[(2008) 220 CTR 404 (Del.)], Para 7, 9, 17  Toyo Engg India Ltd vs. JCIT [(2006) 100 TTJ 373(Mum.)] (Refer Para 15, 17)  Essar Steel Ltd. v. DCIT: [(2005) 97 ITD 125 (Ahmd.) (TM)], Refer para 45)  Goetze (India) Ltd. v. DCIT: [(2008) 115 ITD 119 (Del.], Para 22,  CIT vs. Jagatjit Industries…

ACIT, Moradabad vs. M/S Jubliant Organosys Ltd., Uttar Pradesh

The appeal is dismissed

ITA 2596/DEL/2011[2007-08]Status: DisposedITAT Delhi12 Mar 2019AY 2007-08

Bench: Smt Beena A. Pillai & Shri Prashant Maharishi

For Appellant: Shri R.M. Gupta, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 115JSection 43(1)

…bility was determined and crystallized in year in question on basis of maintaining accounts on mercantile basis.  Hindustan Gum & Chemicals Ltd. vs. ITO [2008] 23 SOT 143 (Kolkata), (Refer Para 7.3)  Saurashtra Cement and Chemical Industries Ltd. CIT[(1995) 213 ITR 523 (Guj)], Para 10  CIT v. Shriram Piston & Rings Ltd.[(2008) 220 CTR 404 (Del.)], Para 7, 9, 17  Toyo Engg India Ltd vs. JCIT [(2006) 100 TTJ 373(Mum.)] (Refer Para 15, 17)  Essar Steel Ltd. v. DCIT: [(2005) 97 ITD 125 (Ahmd.) (TM)], Refer para 45)  Goetze (India) Ltd. v. DCIT: [(2008) 115 ITD 119 (Del.], Para 22,  CIT vs. Jagatjit Industries…

Jubilant Organosys Ltd., Noida vs. Addl. CIT, Moradabad

The appeal is dismissed

ITA 2497/DEL/2011[2007-08]Status: DisposedITAT Delhi12 Mar 2019AY 2007-08

Bench: Smt Beena A. Pillai & Shri Prashant Maharishi

For Appellant: Shri R.M. Gupta, AdvFor Respondent: Shri J. K. Mishra, CIT DR
Section 115JSection 43(1)

…bility was determined and crystallized in year in question on basis of maintaining accounts on mercantile basis.  Hindustan Gum & Chemicals Ltd. vs. ITO [2008] 23 SOT 143 (Kolkata), (Refer Para 7.3)  Saurashtra Cement and Chemical Industries Ltd. CIT[(1995) 213 ITR 523 (Guj)], Para 10  CIT v. Shriram Piston & Rings Ltd.[(2008) 220 CTR 404 (Del.)], Para 7, 9, 17  Toyo Engg India Ltd vs. JCIT [(2006) 100 TTJ 373(Mum.)] (Refer Para 15, 17)  Essar Steel Ltd. v. DCIT: [(2005) 97 ITD 125 (Ahmd.) (TM)], Refer para 45)  Goetze (India) Ltd. v. DCIT: [(2008) 115 ITD 119 (Del.], Para 22,  CIT vs. Jagatjit Industries…

DCIT (International Taxation), Gurgaon vs. M/S. Msv International Inc., Gurgaon

In the result appeal of the revenue is dismissed

ITA 2187/DEL/2016[2005-06]Status: DisposedITAT Delhi12 Feb 2019AY 2005-06

Bench: Smt Diva Singh & Shri R.K. Panda

Section 143(3)Section 147Section 44D

…pted by the courts in many judicial precedents and some of the landmark decisions in the cases are of Radhasoami Satsang v. CIT: (1992) 193 ITR 321 (SC), CIT v. Lagan Kala Upwan: (2003) 259 ITR 489 (Del), Saurashtra Cement & Chemical Industries v. CIT: (1980) 123 ITR 669 (Guj), Commissioner of Income Tax v. Paul Brothers: (1995) 216 ITR 548 (Bom) and Commissioner of Income Tax v. Modi Industries Limited: [2010] 327 ITR 570. Therefore on this ground too assessee deserves relief. 22. In view of above, we are of the view that according to the provision of section 44D rws 9 (1) (vii) of the act assessee‟s receipt fro…

Hindustan Shipyard Ltd, Visakhapatnam vs. DCIT, Circle-3(1), Visakhapatnam

In the result, appeal of the assessee is partly allowed for statistical purpose

ITA 451/VIZ/2017[2010-2011]Status: DisposedITAT Visakhapatnam30 Jan 2019AY 2010-2011

Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.451/Viz/2017 (ननधधारण वर्ा/ Assessment Year: 2010-11) M/S Hindustan Shipyard Ltd., Vs. Dy.Commissioner Of Gandhigram Income Tax Visakhapatnam Circle-3(1) Visakhapatnam [Pan : Aaach4275P] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से/ Respondent By : Shri D.K.Sonowal, Cit Dr सुनवधई की तधरीख / Date Of Hearing : 18.01.2019 01.02.2019 घोर्णध की तधरीख/Date Of Pronouncement : आदेश /O R D E R

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri D.K.Sonowal, CIT DR

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM श्री िी. दुगाा राि,न्याधयक सदस्य एिं श्री धड.एस. सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER& SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.No.451/Viz/2017 (ननधधारण वर्ा/ Assessment Year: 2010-11) M/s Hindustan Shipyard Ltd., Vs. Dy.Commissioner of Gandhigram Income Tax Visakhapatnam Circle-3(1) Visakhapatnam [PAN : AAACH4275P] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant by : Shri G.V.N.Hari, AR प्रत्यधथी की ओर से/ Re…

Audience Measurement and Analytics Pvt. Ltd., Ahmedabad vs. The Dy.CIT., Circle-1, Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 1163/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad21 Jan 2019AY 2010-11

Bench: Justice P.P. Bhatt & Shri Waseem Ahmedआयकर अपील सं./Ita No.1163/Ahd/2015 ("नधा"रण वष"/Assessment Year: 2010-11) Audience Measurement & The Dcit बनाम/ Analytics Pvt. Ltd. Circle-1 Vs. 601, Shahpath-Ii, Opp. Ahmedabad Rajpath Club Sg Highway, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaeca 3984 G (अपीलाथ"/Appellant) .. (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant By : Shri Krupesh Patel, Ar ""यथ" क" ओर से/Respondent By: Shri Vinod Tanwani, Sr.Dr

For Appellant: Shri Krupesh Patel, ARFor Respondent: Shri Vinod Tanwani, Sr.DR
Section 194C

…credited, then the corresponding expenses are also be allowed against such income. In this regard, we find support and guidance from the judgment of Hon’ble Gujarat High Court in the case of Saurashtra Cement & Chemical Industries Limited Vs. CIT reported in 213 ITR 523 wherein it was held as under: “Merely because an expense relates to a transaction of an earlier year it does not become a liability payable in the earlier year unless it can be said that the liability was determined and crystallized in the year in question on the basis of maintaining accounts on the mercantile basis. In each case where the accoun…

DCIT, New Delhi vs. M/S. Metso Minerals (India) Pvt. Ltd., New Delhi

In the result, the appeal is dismissed

ITA 6681/DEL/2014[2010-11]Status: DisposedITAT Delhi18 Jan 2019AY 2010-11

Bench: : Shri Amit Shukla & Shri L.P. Sahu

Section 143(2)Section 14ASection 36(1)(iii)

…cannot be treated as prior period item. Assessee is relying on the following judgements: CIT vs Modipon Ltd. (2011) 334 ITR 102 (Del) CIT vs Shri Ram Pistons & Rings Ltd. (2008) 174 Taxmann 147 (Del) Saurasthra Cement & Chemical Industries Ltd. vs CIT (1995) 213 ITR 523 (Guj) 17 CIT(A) has deleted this addition holding that the amount had been crystallized during the year, even services had been rendered during the year and therefore, the amount cannot be treated as prior period item so as to disallow the same. Last but not the least, it is to be pointed out that neither in the preceding years nor in the subse…

Ambalal Sarabhai Enterprises Ltd., Baroda vs. The Dy. Commissioner of Income Tax-1(1)(1), Baroda

In the result, the appeal filed by the Revenue is dismissed

ITA 933/AHD/2016[1999-00]Status: DisposedITAT Ahmedabad17 Jan 2019AY 1999-00

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad)

For Appellant: Shri Bandish Soparkar, A.RFor Respondent: Shri S.K. Dev, Sr. DR
Section 143(3)Section 146Section 2(24)(x)Section 40A(9)Section 43B

…is issue at page no. 22, 25 in Para 21 and ld. CIT(A) has discussed this issue at page no. 13 , 14 in Para 4.16. Ld. CIT(A) granted relief to the assessee citing a judgment of Gujarat High Court in the matter of Saurashtra Cement & Chemical Industries vs. CIT 213 ITR 532 with regard to allowability of prior period expenses. 38. Now Revenue is before us. ITA Nos. 933 & 1313/Ahd/2016 13 . A.Y. 1999-2000 39. Ld. A.R. cited a judgment of Hon’ble Gujarat High Court in the Tax Appeal No. 223 of 2007 wherein in similar circumstances, Hon’ble Gujarat High Court dismiss the appeal of the Revenue with following observat…

M/S. Schutz Dishman Biotech Pvt.Ltd., Ahmedabad vs. The Dy.CIT, Circle-8, Ahmedabad

In the result, the Revenue’s appeal is dismissed

ITA 1947/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad01 Jan 2019AY 2010-11

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. आयकर अपील सं./Ita No.1909/Ahd/2015 2. आयकर अपील सं./Ita No.1947/Ahd/2015 ("नधा"रण वष"/Assessment Year : 2010-11) 1.The Dcit 1. Schutz Disman बनाम/ Circe-8, Ahmedabad Biotech Ltd. Vs. Ahmedabad 2. Schutz Dishman Biotech 2. The Dcit Ltd. Circle-8 Bhadraraj Chambers Ahmedabad Nr.Swastik Cross Road Navrangpura, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccs 0988C .. (अपीलाथ"/Appellants) (""यथ" / Respondents) Assessee By : Shri Tushar Hemani & Shri Parimal Parmar, Ar Revenue By : Shri Vinod Jalwani, Sr.Dr

For Appellant: Shri Tushar Hemani &For Respondent: Shri Vinod Jalwani, Sr.DR
Section 115JSection 36(1)(va)Section 41

…IN THE INCOME TAX APPELLATE TRIBUNAL “ D ” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And MS. MADHUMITA ROY, JUDICIAL MEMBER 1. आयकर अपील सं./ITA No.1909/Ahd/2015 2. आयकर अपील सं./ITA No.1947/Ahd/2015 ("नधा"रण वष"/Assessment Year : 2010-11) 1.The DCIT 1. Schutz Disman बनाम/ Circe-8, Ahmedabad Biotech Ltd. Vs. Ahmedabad 2. Schutz Dishman Biotech 2. The DCIT Ltd. Circle-8 Bhadraraj Chambers Ahmedabad Nr.Swastik Cross Road Navrangpura, Ahmedabad "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AACCS 0988C .. (अपीलाथ"/Appellants) (""यथ" / Respondents) Assessee by : Shri Tushar Hemani & Shri Parim…

The DCIT, Circle-8, Ahmedabad vs. Schutz Dishman Biotech Ltd., Ahmedabad

In the result, the Revenue’s appeal is dismissed

ITA 1909/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad01 Jan 2019AY 2010-11

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. आयकर अपील सं./Ita No.1909/Ahd/2015 2. आयकर अपील सं./Ita No.1947/Ahd/2015 ("नधा"रण वष"/Assessment Year : 2010-11) 1.The Dcit 1. Schutz Disman बनाम/ Circe-8, Ahmedabad Biotech Ltd. Vs. Ahmedabad 2. Schutz Dishman Biotech 2. The Dcit Ltd. Circle-8 Bhadraraj Chambers Ahmedabad Nr.Swastik Cross Road Navrangpura, Ahmedabad "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccs 0988C .. (अपीलाथ"/Appellants) (""यथ" / Respondents) Assessee By : Shri Tushar Hemani & Shri Parimal Parmar, Ar Revenue By : Shri Vinod Jalwani, Sr.Dr

For Appellant: Shri Tushar Hemani &For Respondent: Shri Vinod Jalwani, Sr.DR
Section 115JSection 36(1)(va)Section 41

…IN THE INCOME TAX APPELLATE TRIBUNAL “ D ” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And MS. MADHUMITA ROY, JUDICIAL MEMBER 1. आयकर अपील सं./ITA No.1909/Ahd/2015 2. आयकर अपील सं./ITA No.1947/Ahd/2015 ("नधा"रण वष"/Assessment Year : 2010-11) 1.The DCIT 1. Schutz Disman बनाम/ Circe-8, Ahmedabad Biotech Ltd. Vs. Ahmedabad 2. Schutz Dishman Biotech 2. The DCIT Ltd. Circle-8 Bhadraraj Chambers Ahmedabad Nr.Swastik Cross Road Navrangpura, Ahmedabad "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AACCS 0988C .. (अपीलाथ"/Appellants) (""यथ" / Respondents) Assessee by : Shri Tushar Hemani & Shri Parim…

M/S. Rajasthan Renewable Energy Corporation Limited, Jaipur vs. Deputy Commissioner of Income Tax, Circle-6, Jaipur

In the result, the ground of appeal is allowed for statistical purposes

ITA 817/JPR/2018[2013-14]Status: DisposedITAT Jaipur10 Dec 2018AY 2013-14
For Appellant: Shri P.C. Parwal (C.A.)For Respondent: Shri Varinder Mehta (CIT)
Section 251Section 36(1)Section 43BSection 80I

…reliance was placed DCIT vs. M/s Rajasthan Renewable Energy Corporation Ltd. on CIT Vs. Excel Industries Ltd. 358 ITR 295 (SC), Pr. CIT Vs. Rajasthan State Seeds Corporation Ltd. (2016) 386 ITR 267 (Raj.), Saurashtra Cement & Chemical Industries Ltd. Vs CIT 213 ITR 523 (Guj.), Rajasthan State Industrial Development & Inv. Corpn. Ltd. Vs. ACIT (66 & 354/JP/08, dated 30-09-2008 for AY 2004-05 and 138 & 235/JP/09 for AY 05-06 dated 08-01-2010). 26. We have heard the rival contentions and perused the material available on record. The incurrence of expenditure for the purposes of business is not been disputed by th…

Deputy Commissioner of Income Tax, Circle-6, Jaipur vs. M/S. Rajasthan Renewable Energy Corporation Limited, Jaipur

In the result, the ground of appeal is allowed for statistical purposes

ITA 772/JPR/2018[2013-14]Status: DisposedITAT Jaipur10 Dec 2018AY 2013-14
For Appellant: Shri P.C. Parwal (C.A.)For Respondent: Shri Varinder Mehta (CIT)
Section 251Section 36(1)Section 43BSection 80I

…reliance was placed DCIT vs. M/s Rajasthan Renewable Energy Corporation Ltd. on CIT Vs. Excel Industries Ltd. 358 ITR 295 (SC), Pr. CIT Vs. Rajasthan State Seeds Corporation Ltd. (2016) 386 ITR 267 (Raj.), Saurashtra Cement & Chemical Industries Ltd. Vs CIT 213 ITR 523 (Guj.), Rajasthan State Industrial Development & Inv. Corpn. Ltd. Vs. ACIT (66 & 354/JP/08, dated 30-09-2008 for AY 2004-05 and 138 & 235/JP/09 for AY 05-06 dated 08-01-2010). 26. We have heard the rival contentions and perused the material available on record. The incurrence of expenditure for the purposes of business is not been disputed by th…

The Deputy Commissioner of Income Tax, Circle-2(1), Vijayawada vs. The Krishna District Co-Operative Central Bank Ltd, Machilipatnam

In the result, the appeals of the revenue for the A

ITA 101/VIZ/2018[2014-15]Status: DisposedITAT Visakhapatnam28 Nov 2018AY 2014-15

Bench: Shri V. Durga Rao & Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.301 & 302 /Viz/2017 (धििाारण िर्ा/ Assessment Years: 2011-2012 & 2012-13) आयकर अपील सं./I.T.A.No.100 & 101 /Viz/2018 (धििाारण िर्ा/ Assessment Years: 2013-2014 & 2014-15) Deputy Commissioner Of Vs. M/S The Krishna District Co- Income Tax Operative Central Bank Ltd., Circle-2(1), Vijayawada Ysr Sahakar Bhavan Jagannadhapuram Machilipatnam [Pan : Aabtt0343E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Co Nos.70 & 71/Viz/2017 (Arising Out Of I.T.A.No.301 & 302 /Viz/2017 (धििाारण िर्ा/ Assessment Years: 2011-2012 & 2012-13) Co Nos.60 & 61/Viz/2018 (Arising Out Of I.T.A.No.100 & 101 /Viz/2018 (धििाारण िर्ा/ Assessment Years: 2013-2014 & 2014-15) M/S The Krishna District Co-Operative Deputy Commissioner Of Central Bank Ltd., Income Tax Ysr Sahakar Bhavan Circle-2(1), Vijayawada Jagannadhapuram Machilipatnam [Pan : Aabtt0343E] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) राजस्व की ओर से/ Revenue By : Sri D. K. Sonowal,Cit Dr निर्ााररती की ओर से/ Assessee By : Sri K.Siva Ram Kumar, Ar सुिवाई की तारीख / Date Of Hearing : 19.11.2018 घोषणा की तारीख/Date Of Pronouncement : 28.11.2018

For Appellant: Sri K.Siva Ram Kumar, ARFor Respondent: Sri D. K. Sonowal,CIT DR
Section 31(1)

…er any modification in Govt. instructions on waiver, claim of expenditure by us on mere resolution would have been unfair and would have been without actual incurrence of the expenditure.) 7. We rely on "Saurashtra Cement & Chemicals Industries Ltd. vs. CIT"( 213 ITR 523 Guj HC),wherein it was held that even for an assessee following mercantile system of accounting, an expenditure shall be allowed under Sec.37(1) on the actual incurrence of the expenditure on its crystallization . This decision was cited by us before the learned CIT(Appeals) too. Though the subject expenditure does not fall u/s 36(2) or 36(1)(vi…