Shree Balaji Alloys v. CIT

333 ITR 335Reported decision2011#345 most cited
249

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2013 to 2025.

Also referred to as

Shree Balaji Alloys v. CIT · 333 ITR 335 · subsidy classification · capital vs revenue subsidy · industrial policy objectives · terms and conditions of scheme · section 2(24)(xviii) · section 80IB(4) · section 115JB · section 43(1) · initial assessment year · book profits

Also reported as

198 Taxmann 1229 Taxmann.com 255

Sections most often in play

Section 153ASection 115JBSection 14ASection 139(5)Section 147Section 148Section 139(1)Section 143(3)

Issues it is cited on

section 11bsection 80ib(4)section 2(24)(xviii)initial assessment yearminimum alternate taxsection 115jasection 80hhcsection 42section 32(1)(iia)section 43(1)section 80hhbook profits

Judgments citing Shree Balaji Alloys v. CIT

Man Industries India Ltd, Mumbai vs. ACIT (Ltu), Mumbai

In the result, all the three appeals of the assessee are allowed

ITA 6697/MUM/2014[2010-11]Status: DisposedITAT Mumbai08 Jul 2016AY 2010-11

Bench: Shri R.C. Sharma, Am & Shri Ram Lal Negi, Jm आमकय अऩीर सं./I.T.A. No.6696,6697&6698/Mum/2014 (निर्धारण वषा / Assessment Year: 2009-10 To 2011-12) M/S. Man Industries India Ltd Asstt. Commissioner Of Income 101, Man House, S.V. Road, Off. Tax-(Ltu), बिधम/ 29Th Floor, Centre No 1, World Pawan Hans, Vile Parle (West), Mumbai-400 056. Trade Centre, Vs. Cuffe Parade, Mumbai-400 005. स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aaacm 2675G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : अऩीराथी की ओय से / Appellant By : Shri Jehangir D. Mistri प्रत्मथी की ओय से/Respondent By : Shri N.P.Singh Citdr

For Appellant: Shri Jehangir D. MistriFor Respondent: Shri N.P.Singh CITDR
Section 115JSection 143(3)

…l unit will charge VAT and retain the same as an Incentive. 4.1 Following judgments of various High Courts saying that Incentives declared by the Government for development are of capital nature were referred before the AO : - . 1. Shree Balajl Alloys Vs. CIT 333 ITR 335 - High Court of Jammu Kashmir held that Refund of Excise under subsidy scheme Is a capital nature and not taxable, 2. Vinod Kumar Jain vs. ITO, Jammu, ITAT, Amritsar Bench (Special Bench) (IT Appeal Nos. 65& 68 (Asr.) of 2010) 140 ITD 1, held that excise duty refund is to be treated as capital receipt. 3. CIT vs. Rasoli ltd. [2011J 245 CTR. 667 (…

Man Industries India Ltd, Mumbai vs. ACIT (Ltu), Mumbai

In the result, all the three appeals of the assessee are allowed

ITA 6696/MUM/2014[2009-10]Status: DisposedITAT Mumbai08 Jul 2016AY 2009-10

Bench: Shri R.C. Sharma, Am & Shri Ram Lal Negi, Jm आमकय अऩीर सं./I.T.A. No.6696,6697&6698/Mum/2014 (निर्धारण वषा / Assessment Year: 2009-10 To 2011-12) M/S. Man Industries India Ltd Asstt. Commissioner Of Income 101, Man House, S.V. Road, Off. Tax-(Ltu), बिधम/ 29Th Floor, Centre No 1, World Pawan Hans, Vile Parle (West), Mumbai-400 056. Trade Centre, Vs. Cuffe Parade, Mumbai-400 005. स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aaacm 2675G (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : अऩीराथी की ओय से / Appellant By : Shri Jehangir D. Mistri प्रत्मथी की ओय से/Respondent By : Shri N.P.Singh Citdr

For Appellant: Shri Jehangir D. MistriFor Respondent: Shri N.P.Singh CITDR
Section 115JSection 143(3)

…l unit will charge VAT and retain the same as an Incentive. 4.1 Following judgments of various High Courts saying that Incentives declared by the Government for development are of capital nature were referred before the AO : - . 1. Shree Balajl Alloys Vs. CIT 333 ITR 335 - High Court of Jammu Kashmir held that Refund of Excise under subsidy scheme Is a capital nature and not taxable, 2. Vinod Kumar Jain vs. ITO, Jammu, ITAT, Amritsar Bench (Special Bench) (IT Appeal Nos. 65& 68 (Asr.) of 2010) 140 ITD 1, held that excise duty refund is to be treated as capital receipt. 3. CIT vs. Rasoli ltd. [2011J 245 CTR. 667 (…

DCIT 4(2), Mumbai vs. Harinagar Sugar Mills Ltd, Mumbai

In the result, the appeal filed by the Revenue in ITA N0

ITA 5675/MUM/2014[2011-12]Status: DisposedITAT Mumbai22 Jun 2016AY 2011-12

Bench: Shri Sanjay Garg & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 5675/Mum/2014 ("नधा"रण वष" / Assessment Year : 2011-12) Dy. Commissioner Of Income M/S Harinagar Sugar Mills बनाम/ Tax - 4(2), Ltd., V. Room No. 642, 6 Th Floor, World Trade Centre, Aayakar Bhavan, Centre No. 1, M.K. Road, 10 Th Floor, Mumbai 400 020. Cuffe Parade, Colaba, Mumbai- 400 005. "थायी लेखा सं./Pan : Aaach2831H .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

For Appellant: Shri Jayesh Desai
Section 143(3)

…Court in the case of CIT Vs Rasoi Ltd. 335 ITR 438 (CAL), the decision of the High Court of Gujarat in the case of CIT Vs. Tripti Menthol Industries 35 taxmann.com 515 (Gujarat) and the decision of the J&K High Court in the case of Shree Balaji Alloys Vs. CIT 333 ITR 335 (J&K). 3.3 We have heard both the sides and perused the material on record. It is not disputed that the subsidy scheme formulated by the Government of Bihar is for the purpose of attracting capital investment and to encourage setting up the industry/expand the existing unit. It is pertinent to mention that the character ITA 5675/Mum/2014 9 of…

Commissioner of Income Tax vs. Sri P.Sarveswara Rao

ITTA/434/2005HC Telangana14 Mar 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Svg Fashions Ltd ( Formelry Known As Deepak Suitings Ltd), Mumbai vs. DCIT 4(3), Mumbai

In the result, the appeal filed by the assessee stands allowed

ITA 4154/MUM/2012[2009-10]Status: DisposedITAT Mumbai23 Dec 2015AY 2009-10

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita No.5644/Mum/2011

For Appellant: Shri Hariom TulsyanFor Respondent: Shri Ranjeesh K. Arvind
Section 143(3)

…ities, modernization and improving the marketing capabilities to tide over the crises for promotion of industry in the state is to be treated as capital in nature. That similarly, the issue is covered in the case of Shree Balaji Alloys & Ors. –vs.- CIT (2011) 333 ITR 335 (J&K) wherein it has been held that excise duty refund and interest subsidy received for the purpose of eradication of unemployment in the state by acceleration of industrial development and removing backwardness of the area that lagged behind in industrial development is to be treated as capital receipt. 8. Ld. A.R. also submitted that similar v…

Svg Fashions Ltd (Formelry Knwon As Deepak Suitings Ltd), Mumbai vs. DCIT 4(3), Mumbai

In the result, the appeal filed by the assessee stands allowed

ITA 296/MUM/2012[2008-09]Status: DisposedITAT Mumbai23 Dec 2015AY 2008-09

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita No.5644/Mum/2011

For Appellant: Shri Hariom TulsyanFor Respondent: Shri Ranjeesh K. Arvind
Section 143(3)

…ities, modernization and improving the marketing capabilities to tide over the crises for promotion of industry in the state is to be treated as capital in nature. That similarly, the issue is covered in the case of Shree Balaji Alloys & Ors. –vs.- CIT (2011) 333 ITR 335 (J&K) wherein it has been held that excise duty refund and interest subsidy received for the purpose of eradication of unemployment in the state by acceleration of industrial development and removing backwardness of the area that lagged behind in industrial development is to be treated as capital receipt. 8. Ld. A.R. also submitted that similar v…

Svg Fashions Ltd (Formerly Known As Deepak Suitings Ltd), Mumbai vs. DCIT 4(3), Mumbai

In the result, the appeal filed by the assessee stands allowed

ITA 5644/MUM/2011[2005-06]Status: DisposedITAT Mumbai23 Dec 2015AY 2005-06

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita No.5644/Mum/2011

For Appellant: Shri Hariom TulsyanFor Respondent: Shri Ranjeesh K. Arvind
Section 143(3)

…ities, modernization and improving the marketing capabilities to tide over the crises for promotion of industry in the state is to be treated as capital in nature. That similarly, the issue is covered in the case of Shree Balaji Alloys & Ors. –vs.- CIT (2011) 333 ITR 335 (J&K) wherein it has been held that excise duty refund and interest subsidy received for the purpose of eradication of unemployment in the state by acceleration of industrial development and removing backwardness of the area that lagged behind in industrial development is to be treated as capital receipt. 8. Ld. A.R. also submitted that similar v…

CIT vs. Aar Bee Industries

ITA - 149 / 2012HC Delhi02 Jul 2013
For Appellant: Mr N. P. SahniFor Respondent: Mr C.S. Aggarwal, Sr Advocate with Mr Prakash
Section 143(2)Section 260Section 80

…-tax (Appeals), Jammu. That appeal, was decided in favour of the respondent / assessee by the said Commissioner of Income-tax (Appeals), Jammu on 23.02.2011 by following the decision of the Jammu & Kashmir High Court in the case of Shree Balaji Alloys v. CIT: 333 ITR 335 (J&K). In effect, the Commissioner of Income-tax (Appeals) allowed the respondent’s claim for deduction under Section 80-IB(4) of the said Act. 6. Thereafter, the revenue filed an appeal before the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar being ITA No.179/Asr/2011. It may be pointed out that as per the relevant Standing Order under…

CIT vs. Aar Bee Industries

ITA - 148 / 2012HC Delhi02 Jul 2013
For Appellant: Mr N. P. SahniFor Respondent: Mr C.S. Aggarwal, Sr Advocate with Mr Prakash
Section 143(2)Section 260Section 80

…-tax (Appeals), Jammu. That appeal, was decided in favour of the respondent / assessee by the said Commissioner of Income-tax (Appeals), Jammu on 23.02.2011 by following the decision of the Jammu & Kashmir High Court in the case of Shree Balaji Alloys v. CIT: 333 ITR 335 (J&K). In effect, the Commissioner of Income-tax (Appeals) allowed the respondent’s claim for deduction under Section 80-IB(4) of the said Act. 6. Thereafter, the revenue filed an appeal before the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar being ITA No.179/Asr/2011. It may be pointed out that as per the relevant Standing Order under…