Shivshahi Punarvasan Prakalp Ltd. v. ITO

135 ITD 51Income Tax Appellate Tribunal2012#7185 most cited
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Judgments citing Shivshahi Punarvasan Prakalp Ltd. v. ITO

L AND T MHPS TURBINE GENERATIORS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 2(2), MUMBAI

In the result, the appeal filed by the assessee is treated as allowed for statistical purposes

ITA 4766/MUM/2017[2010-11]Status: DisposedITAT Mumbai04 Jan 2023AY 2010-11

Bench: Shri B.R. Baskaran (Am) & Shri Rahul Chaudhary (Jm)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘A’ BENCH, MUMBAI. Before Shri B.R. Baskaran (AM) & Shri Rahul Chaudhary (JM) I.T.A. No. 4766/Mum/2017 (A.Y. 2010-11) Vs. DCIT, Circle-2(2)(1) L&T MHPS Generators Pvt. Ltd. L&T House, 2nd Floor, N.M. Marg Room No. 545 Ballard Estate, Mumbai-400 001. Aayakar Bhavan M.K. Road PAN : AABCL2729F Mumbai-400 020. (Appellant) (Respondent) Assessee by Shri Nitesh Joshi Department by Shri Mehul Jain Date of Hearing 21.11.2022 Date of Pronouncement 04.01.2023 O R D E R Per B.R.Baskaran (AM) :- The assessee has filed this appeal challenging the order dated 07.04.2017 passed…

GUJARAT CHEMICAL PORT TERMINAL CO. LTD.,,LAKHIGAM vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA

In the result, assessee’s appeal for AY 2013-14 is partly allowed and for AY

ITA 394/SRT/2018[2013-14]Status: DisposedITAT Ahmedabad05 Aug 2022AY 2013-14

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2013-14 Gujarat Chemical Port Deputy Commissioner Of Terminal Co. Ltd., Vs Income-Tax, Po: Lakhigam, Via Dahej, Tal. Vagra, Circle 1(1)(1), Dist: Bharuch-392130 Vadodara Pan : Aaacg 6861 A Assessment Year : 2013-14 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Gujarat Chemical Port Dy. Commissioner Of Income-Tax, Terminal Co. Ltd., Vs Circle 1(1)(1), Po: Lakhigam, Via Dahej, Tal. Vagra, Vadodara Dist: Bharuch-392130 Pan : Aaacg 6861 A अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Ms. Amrin Pathan, Ca Revenue By : Shri Jamesh Kurian, Cit-Dr & Ms. Pooja Parekh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 26/07/2022 घोषणा क" तार"ख /Date Of Pronouncement: 05/08/2022

For Appellant: Ms. Amrin Pathan, CAFor Respondent: Shri Jamesh Kurian, CIT-DR &
Section 115JSection 143(2)

…puting book profit under Section 115JB of the Act as the same does not fall within the purview of Section 115JB of the Act. To the similar effect is the decision of Mumbai Bench of this Tribunal in the case of Shivshahi Punarvasan Prakalp Ltd. Vs. ITO, (2012) 135 ITD 51 (Mumbai), wherein it was held that there is no provision for any adjustment on account of prior period expenses in Explanation-1 to Section 115JB(2) of the Act and, therefore, any addition on account of disallowance of prior period expenses while computing book profit is not permitted. Respectfully following these judicial pronouncements, we uphol…

M/S. GUJARAT CHEMICALS PORT TERMINAL COMPANY LIMITED,,BARODA vs. THE DCIT, CIRCLE-1(1)(1),, BARODA

In the result, assessee’s appeal for AY 2013-14 is partly allowed and for AY

ITA 2373/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad05 Aug 2022AY 2014-15

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2013-14 Gujarat Chemical Port Deputy Commissioner Of Terminal Co. Ltd., Vs Income-Tax, Po: Lakhigam, Via Dahej, Tal. Vagra, Circle 1(1)(1), Dist: Bharuch-392130 Vadodara Pan : Aaacg 6861 A Assessment Year : 2013-14 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Gujarat Chemical Port Dy. Commissioner Of Income-Tax, Terminal Co. Ltd., Vs Circle 1(1)(1), Po: Lakhigam, Via Dahej, Tal. Vagra, Vadodara Dist: Bharuch-392130 Pan : Aaacg 6861 A अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Ms. Amrin Pathan, Ca Revenue By : Shri Jamesh Kurian, Cit-Dr & Ms. Pooja Parekh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 26/07/2022 घोषणा क" तार"ख /Date Of Pronouncement: 05/08/2022

For Appellant: Ms. Amrin Pathan, CAFor Respondent: Shri Jamesh Kurian, CIT-DR &
Section 115JSection 143(2)

…puting book profit under Section 115JB of the Act as the same does not fall within the purview of Section 115JB of the Act. To the similar effect is the decision of Mumbai Bench of this Tribunal in the case of Shivshahi Punarvasan Prakalp Ltd. Vs. ITO, (2012) 135 ITD 51 (Mumbai), wherein it was held that there is no provision for any adjustment on account of prior period expenses in Explanation-1 to Section 115JB(2) of the Act and, therefore, any addition on account of disallowance of prior period expenses while computing book profit is not permitted. Respectfully following these judicial pronouncements, we uphol…

THE ACIT, CIRCLE-1(1)(1),, BARODA vs. M/S. GUJARAT CHEMICAL PORT TERMINAL CO. LTD.,, BHARUCH

In the result, assessee’s appeal for AY 2013-14 is partly allowed and for AY

ITA 2234/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad05 Aug 2022AY 2014-15

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2013-14 Gujarat Chemical Port Deputy Commissioner Of Terminal Co. Ltd., Vs Income-Tax, Po: Lakhigam, Via Dahej, Tal. Vagra, Circle 1(1)(1), Dist: Bharuch-392130 Vadodara Pan : Aaacg 6861 A Assessment Year : 2013-14 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Gujarat Chemical Port Dy. Commissioner Of Income-Tax, Terminal Co. Ltd., Vs Circle 1(1)(1), Po: Lakhigam, Via Dahej, Tal. Vagra, Vadodara Dist: Bharuch-392130 Pan : Aaacg 6861 A अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Ms. Amrin Pathan, Ca Revenue By : Shri Jamesh Kurian, Cit-Dr & Ms. Pooja Parekh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 26/07/2022 घोषणा क" तार"ख /Date Of Pronouncement: 05/08/2022

For Appellant: Ms. Amrin Pathan, CAFor Respondent: Shri Jamesh Kurian, CIT-DR &
Section 115JSection 143(2)

…puting book profit under Section 115JB of the Act as the same does not fall within the purview of Section 115JB of the Act. To the similar effect is the decision of Mumbai Bench of this Tribunal in the case of Shivshahi Punarvasan Prakalp Ltd. Vs. ITO, (2012) 135 ITD 51 (Mumbai), wherein it was held that there is no provision for any adjustment on account of prior period expenses in Explanation-1 to Section 115JB(2) of the Act and, therefore, any addition on account of disallowance of prior period expenses while computing book profit is not permitted. Respectfully following these judicial pronouncements, we uphol…

THE ACIT, CIRCLE-1(1)(1),, BARODA vs. GUJARAT CHEMICAL PORT TERMINAL COMPANY LTD.,, BHARUCH

In the result, assessee’s appeal for AY 2013-14 is partly allowed and for AY

ITA 1428/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad05 Aug 2022AY 2013-14

Bench: Shri P.M. Jagtap, Vice- & Shri Siddhartha Nautiyalassessment Year : 2013-14 Gujarat Chemical Port Deputy Commissioner Of Terminal Co. Ltd., Vs Income-Tax, Po: Lakhigam, Via Dahej, Tal. Vagra, Circle 1(1)(1), Dist: Bharuch-392130 Vadodara Pan : Aaacg 6861 A Assessment Year : 2013-14 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Asst. Commissioner Of Income-Tax, Gujarat Chemical Port Circle 1(1)(1), Vs Terminal Co. Ltd., Vadodara Po: Lakhigam, Via Dahej, Tal. Vagra, Dist: Bharuch-392130 Pan : Aaacg 6861 A Assessment Year : 2014-15 Gujarat Chemical Port Dy. Commissioner Of Income-Tax, Terminal Co. Ltd., Vs Circle 1(1)(1), Po: Lakhigam, Via Dahej, Tal. Vagra, Vadodara Dist: Bharuch-392130 Pan : Aaacg 6861 A अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Ms. Amrin Pathan, Ca Revenue By : Shri Jamesh Kurian, Cit-Dr & Ms. Pooja Parekh, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 26/07/2022 घोषणा क" तार"ख /Date Of Pronouncement: 05/08/2022

For Appellant: Ms. Amrin Pathan, CAFor Respondent: Shri Jamesh Kurian, CIT-DR &
Section 115JSection 143(2)

…puting book profit under Section 115JB of the Act as the same does not fall within the purview of Section 115JB of the Act. To the similar effect is the decision of Mumbai Bench of this Tribunal in the case of Shivshahi Punarvasan Prakalp Ltd. Vs. ITO, (2012) 135 ITD 51 (Mumbai), wherein it was held that there is no provision for any adjustment on account of prior period expenses in Explanation-1 to Section 115JB(2) of the Act and, therefore, any addition on account of disallowance of prior period expenses while computing book profit is not permitted. Respectfully following these judicial pronouncements, we uphol…

GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD.,,GANDHINAGAR vs. THE DY.CIT.,GANDHINAGAR CIRCLE,, GANDHINAGAR

In the result the appeal of the assessee is partly allowed

ITA 2390/AHD/2014[2011-12]Status: DisposedITAT Ahmedabad01 Feb 2019AY 2011-12

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.2390/Ahd/2014 "नधा"रण वष"/Asstt. Year: 2011-2012 D.C.I.T, Gujarat Industrial Investment Corporation Ltd., Gandhinagar Circle, Vs. 6Th Floor, Block No.11, Gandhinagar Udyog Bhavan, Sector 11, Gandhinagar-382011. Pan: Aaacg5304Q आयकर अपील सं./Ita No.2319/Ahd/2014 "नधा"रण वष"/Asstt. Year: 2011-2012

Section 115J

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’B’’ BENCH, AHMEDABAD BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER And SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.2390/AHD/2014 "नधा"रण वष"/Asstt. Year: 2011-2012 D.C.I.T, Gujarat Industrial Investment Corporation Ltd., Gandhinagar Circle, Vs. 6th Floor, Block No.11, Gandhinagar Udyog Bhavan, Sector 11, Gandhinagar-382011. PAN: AAACG5304Q आयकर अपील सं./ITA No.2319/AHD/2014 "नधा"रण वष"/Asstt. Year: 2011-2012 D.C.I.T, Gujarat Industrial Investment Gandhinagar Circle, Corporation Ltd., Vs. Gandhinagar 6th Floor, Block No.11, U…

THE ACIT,GNR CIRCLE,, GANDHINAGAR vs. M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD., GANDHINAGAR

Appeal of the Revenue is dismissed

ITA 419/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad18 Sept 2018AY 2008-09

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Surendra Kumar, CIT-DRFor Respondent: Shri Sanjay R. Shah, A.R
Section 115Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B ’’BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER And SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. ITA No(s) Asst. Appeal(s) by No Year(s) Appellant vs. Respondent Appellant Respondent 1. Income Tax Appeal 2007-08 DCIT, Gandhinagar M/s. Gujarat Industrial No.1115/Ahd/2011 Circle, Block – 14, Investment Corp. Ltd., 4th Floor, Udhyog Block – 14, 6th Floor, Bhavan, Sector-11, Udhyog Bhavan, Gandhinagar – 382 Sector-11, 011. Gandhinagar – 382 011 PAN:AAACG 5304 Q 2. Income Tax Appeal 2007-08 M/s. Gujarat DCIT, No.1170/Ahd/2011 I…

THE ACIT,GNR CIRCLE,, GANDHINAGAR vs. M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD., GANDHINAGAR

Appeal of the Revenue is dismissed

ITA 2556/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad18 Sept 2018AY 2009-10

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Surendra Kumar, CIT-DRFor Respondent: Shri Sanjay R. Shah, A.R
Section 115Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B ’’BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER And SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. ITA No(s) Asst. Appeal(s) by No Year(s) Appellant vs. Respondent Appellant Respondent 1. Income Tax Appeal 2007-08 DCIT, Gandhinagar M/s. Gujarat Industrial No.1115/Ahd/2011 Circle, Block – 14, Investment Corp. Ltd., 4th Floor, Udhyog Block – 14, 6th Floor, Bhavan, Sector-11, Udhyog Bhavan, Gandhinagar – 382 Sector-11, 011. Gandhinagar – 382 011 PAN:AAACG 5304 Q 2. Income Tax Appeal 2007-08 M/s. Gujarat DCIT, No.1170/Ahd/2011 I…

M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD.,GANDHINAGAR vs. THE JT.CIT.,GNR RANGE,, GANDHINAGAR

Appeal of the Revenue is dismissed

ITA 2473/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad18 Sept 2018AY 2009-10

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Surendra Kumar, CIT-DRFor Respondent: Shri Sanjay R. Shah, A.R
Section 115Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B ’’BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER And SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. ITA No(s) Asst. Appeal(s) by No Year(s) Appellant vs. Respondent Appellant Respondent 1. Income Tax Appeal 2007-08 DCIT, Gandhinagar M/s. Gujarat Industrial No.1115/Ahd/2011 Circle, Block – 14, Investment Corp. Ltd., 4th Floor, Udhyog Block – 14, 6th Floor, Bhavan, Sector-11, Udhyog Bhavan, Gandhinagar – 382 Sector-11, 011. Gandhinagar – 382 011 PAN:AAACG 5304 Q 2. Income Tax Appeal 2007-08 M/s. Gujarat DCIT, No.1170/Ahd/2011 I…

M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD.,GANDHINAGAR vs. THE ADDL.CIT.,GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the Revenue is dismissed

ITA 208/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad18 Sept 2018AY 2008-09

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Surendra Kumar, CIT-DRFor Respondent: Shri Sanjay R. Shah, A.R
Section 115Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B ’’BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER And SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. ITA No(s) Asst. Appeal(s) by No Year(s) Appellant vs. Respondent Appellant Respondent 1. Income Tax Appeal 2007-08 DCIT, Gandhinagar M/s. Gujarat Industrial No.1115/Ahd/2011 Circle, Block – 14, Investment Corp. Ltd., 4th Floor, Udhyog Block – 14, 6th Floor, Bhavan, Sector-11, Udhyog Bhavan, Gandhinagar – 382 Sector-11, 011. Gandhinagar – 382 011 PAN:AAACG 5304 Q 2. Income Tax Appeal 2007-08 M/s. Gujarat DCIT, No.1170/Ahd/2011 I…

M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION,GANDHINAGAR vs. THE DY.CIT.,GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the Revenue is dismissed

ITA 1170/AHD/2011[2007-08]Status: DisposedITAT Ahmedabad18 Sept 2018AY 2007-08

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Surendra Kumar, CIT-DRFor Respondent: Shri Sanjay R. Shah, A.R
Section 115Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B ’’BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER And SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. ITA No(s) Asst. Appeal(s) by No Year(s) Appellant vs. Respondent Appellant Respondent 1. Income Tax Appeal 2007-08 DCIT, Gandhinagar M/s. Gujarat Industrial No.1115/Ahd/2011 Circle, Block – 14, Investment Corp. Ltd., 4th Floor, Udhyog Block – 14, 6th Floor, Bhavan, Sector-11, Udhyog Bhavan, Gandhinagar – 382 Sector-11, 011. Gandhinagar – 382 011 PAN:AAACG 5304 Q 2. Income Tax Appeal 2007-08 M/s. Gujarat DCIT, No.1170/Ahd/2011 I…

THE DCITGANDHINAGAR CIRCLE,, GANDHINAGAR vs. M/S. GUJARAT INDUSTRIAL INVESTMENT CORPORATION, GANDHINAGAR

Appeal of the Revenue is dismissed

ITA 1115/AHD/2011[2007-08]Status: DisposedITAT Ahmedabad18 Sept 2018AY 2007-08

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri Surendra Kumar, CIT-DRFor Respondent: Shri Sanjay R. Shah, A.R
Section 115Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B ’’BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER And SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sr. ITA No(s) Asst. Appeal(s) by No Year(s) Appellant vs. Respondent Appellant Respondent 1. Income Tax Appeal 2007-08 DCIT, Gandhinagar M/s. Gujarat Industrial No.1115/Ahd/2011 Circle, Block – 14, Investment Corp. Ltd., 4th Floor, Udhyog Block – 14, 6th Floor, Bhavan, Sector-11, Udhyog Bhavan, Gandhinagar – 382 Sector-11, 011. Gandhinagar – 382 011 PAN:AAACG 5304 Q 2. Income Tax Appeal 2007-08 M/s. Gujarat DCIT, No.1170/Ahd/2011 I…

THE COMMISSIONER OF INCOME TAX vs. M/S SANSERA ENGG PVT LTD

The appeal is dismissed

ITA/453/2015HC Karnataka09 Jun 2016

Bench: JAYANT PATEL,B.SREENIVASE GOWDA

Section 115JSection 154Section 260Section 40

…nditure in the book profit. With the assistance of the learned representatives, we 6 have considered this issue. The learned CIT (A) has relied upon the order of the ITAT Mumbai in the case of Shivshashi Punarvasan Prakalpa Ltd vs. ITI 135 ITD 51 which is based on the judgment of the Hon’ble Supreme Court in the case of Apollo Tyres Ltd, 254 ITR 273. For the purpose of section 115JB, the book profit is the profit disclosed as per P&L a/c prepared in accordance with the provisions of Part-II and Part-III of Schedule VI of the Company’s Act, 1956, laid before the company in its AGM.…

ACIT, CHENNAI vs. V.S.L.INDIA PRIVATE LIMITED, CHENNAI

In the result, the appeal of the Department in ITA

ITA 1703/CHNY/2013[2008-09]Status: DisposedITAT Chennai01 Feb 2016AY 2008-09

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri. V. Vivekanandan, CIT. DRFor Respondent: Shri. R. Vijayaraghavan, Advocate
Section 143(1)Section 143(2)Section 143(3)Section 195Section 40

…e has substantiated his arguments and relied on the decision of Co-Ordinate Bench of the Tribunal in the case of EDAC Engineering Ltd. vs. DCIT (Chennai) 141 ITD 231 and Shivshahi ITA Nos.1701 to 1703/2013. :- 15 -: Punarvsan Prakalp Ltd. Vs. ITO (Mumbai) 135 ITD 51 and vehemently argued that only actual expenditure has to be allowed but not the provisions under Accounting standard 7. 8.5 Contra, the ld. Authorised Representative has substantiated his arguments with the submission on disallowance by giving details of working of the project of the company alongwith work status and also foreseeable losses and…

ACIT, CHENNAI vs. V.S.L.INDIA PRIVATE LIMITED, CHENNAI

In the result, the appeal of the Department in ITA

ITA 1702/CHNY/2013[2007-08]Status: DisposedITAT Chennai01 Feb 2016AY 2007-08

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri. V. Vivekanandan, CIT. DRFor Respondent: Shri. R. Vijayaraghavan, Advocate
Section 143(1)Section 143(2)Section 143(3)Section 195Section 40

…e has substantiated his arguments and relied on the decision of Co-Ordinate Bench of the Tribunal in the case of EDAC Engineering Ltd. vs. DCIT (Chennai) 141 ITD 231 and Shivshahi ITA Nos.1701 to 1703/2013. :- 15 -: Punarvsan Prakalp Ltd. Vs. ITO (Mumbai) 135 ITD 51 and vehemently argued that only actual expenditure has to be allowed but not the provisions under Accounting standard 7. 8.5 Contra, the ld. Authorised Representative has substantiated his arguments with the submission on disallowance by giving details of working of the project of the company alongwith work status and also foreseeable losses and…

ACIT, CHENNAI vs. V.S.L.INDIA PRIVATE LIMITED, CHENNAI

In the result, the appeal of the Department in ITA

ITA 1701/CHNY/2013[2006-07]Status: DisposedITAT Chennai01 Feb 2016AY 2006-07

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri. V. Vivekanandan, CIT. DRFor Respondent: Shri. R. Vijayaraghavan, Advocate
Section 143(1)Section 143(2)Section 143(3)Section 195Section 40

…e has substantiated his arguments and relied on the decision of Co-Ordinate Bench of the Tribunal in the case of EDAC Engineering Ltd. vs. DCIT (Chennai) 141 ITD 231 and Shivshahi ITA Nos.1701 to 1703/2013. :- 15 -: Punarvsan Prakalp Ltd. Vs. ITO (Mumbai) 135 ITD 51 and vehemently argued that only actual expenditure has to be allowed but not the provisions under Accounting standard 7. 8.5 Contra, the ld. Authorised Representative has substantiated his arguments with the submission on disallowance by giving details of working of the project of the company alongwith work status and also foreseeable losses and…

Shivshahi Punarvasan Prakalp Ltd. v. ITO (135 ITD 51) — Cited in 16 Judgments | BharatTax