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

DCIT-3(4), Mumbai vs. M/S. Ambuja Cements Ltd., Mumbai City

In the result, appeals of the revenue and CO’s of assessee stands dismissed

ITA 2032/MUM/2023[2010-11]Status: DisposedITAT Mumbai11 Dec 2023AY 2010-11

Bench: Shri Aby T. Varkey, Jm & Shri Prashant Maharishi, Am आयकर अपील सं/ I.T.A. No.2031/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2008-09) Dcit-3(4) बिधम/ M/S. Ambuja Cements Ltd 29Th Floor, Center-1, World 3Rd Floor, Elegant Vs. Trade Center, Cuffe Parade, Business Park, Midc Mumbai-400005. Cross, Road B Andheri East, Mumbai-400059. Cross Objection No. 90/Mum/2023 Arising Out Of I.T.A. No.2031/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2008-09) M/S. Ambuja Cements Ltd बिधम/ Dcit-3(4) 3Rd Floor, Elegant Business 29Th Floor, Center-1, Vs. Park, Midc Cross, Road B World Trade Center, Andheri East, Mumbai- Cuffe Parade, Mumbai- 400059. 400005. आयकर अपील सं/ I.T.A. No.2032/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-3(4) बिधम/ M/S. Ambuja Cements Ltd 29Th Floor, Center-1, World 3Rd Floor, Elegant Vs. Trade Center, Cuffe Parade, Business Park, Midc Mumbai-400005. Cross, Road B Andheri . East, Mumbai-400059. Cross Objection No. 91/Mum/2023 Arising Out Of I.T.A. No.2032/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) M/S. Ambuja Cements Ltd बिधम/ Dcit-3(4) 3Rd Floor, Elegant Business 29Th Floor, Center-1, Vs. Park, Midc Cross, Road B World Trade Center, Andheri East, Mumbai- Cuffe Parade, Mumbai- 400059. 400005. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacg0569P (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: None Revenue By: Shri Ajay Chandra (Dr) C.O. 90 & 91/Mum/2023 A.Ys. 2008-09 & 2010-11 Ambuja Cements Ltd सुनवाई की तारीख / Date Of Hearing: 11/10/2023 घोषणा की तारीख /Date Of Pronouncement: 11/12/2023 आदेश / O R D E R Per Bench: These Are Appeals Preferred By The Revenue & Respective Cross Objections (‘Co’) Filed By The Assessee Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)/Nfac, Delhi [In Short ‘Ld. Cit(A)’] Dated 31-03-2023 For Ay 2008-09 & Ay 2010-11 Respectively.

For Appellant: NoneFor Respondent: Shri Ajay Chandra (DR)
Section 115Section 115JSection 143(3)Section 80I

…e eligible for the benefit u/s.80IA. 31. With regard to sales tax exemption benefit being treated as capital receipt, she relied on the decision of Jammu and Kashmir High Court in the case of Shree Balaji Alloys v. CIT [2011] 198 Taxman 122/9 taxmann.com 255/333 ITR 335, Bombay High Court in case of CIT v. Chaphalkar Brothers [2013] 33 taxmann.com 431/215 Taxman 145 (Mag.)/351 ITR 309. 32. With regard to disallowance made u/s.14, she relied on the findings recorded by lower authorities. 33. We have considered rival contentions, carefully gone through the orders of the authorities below and materials placed befo…

DCIT-3(4), Mumbai vs. M/S. Ambuja Cements Ltd., Mumbai

In the result, appeals of the revenue and CO’s of assessee stands dismissed

ITA 2031/MUM/2023[2008-09]Status: DisposedITAT Mumbai11 Dec 2023AY 2008-09

Bench: Shri Aby T. Varkey, Jm & Shri Prashant Maharishi, Am आयकर अपील सं/ I.T.A. No.2031/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2008-09) Dcit-3(4) बिधम/ M/S. Ambuja Cements Ltd 29Th Floor, Center-1, World 3Rd Floor, Elegant Vs. Trade Center, Cuffe Parade, Business Park, Midc Mumbai-400005. Cross, Road B Andheri East, Mumbai-400059. Cross Objection No. 90/Mum/2023 Arising Out Of I.T.A. No.2031/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2008-09) M/S. Ambuja Cements Ltd बिधम/ Dcit-3(4) 3Rd Floor, Elegant Business 29Th Floor, Center-1, Vs. Park, Midc Cross, Road B World Trade Center, Andheri East, Mumbai- Cuffe Parade, Mumbai- 400059. 400005. आयकर अपील सं/ I.T.A. No.2032/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-3(4) बिधम/ M/S. Ambuja Cements Ltd 29Th Floor, Center-1, World 3Rd Floor, Elegant Vs. Trade Center, Cuffe Parade, Business Park, Midc Mumbai-400005. Cross, Road B Andheri . East, Mumbai-400059. Cross Objection No. 91/Mum/2023 Arising Out Of I.T.A. No.2032/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2010-11) M/S. Ambuja Cements Ltd बिधम/ Dcit-3(4) 3Rd Floor, Elegant Business 29Th Floor, Center-1, Vs. Park, Midc Cross, Road B World Trade Center, Andheri East, Mumbai- Cuffe Parade, Mumbai- 400059. 400005. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacg0569P (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: None Revenue By: Shri Ajay Chandra (Dr) C.O. 90 & 91/Mum/2023 A.Ys. 2008-09 & 2010-11 Ambuja Cements Ltd सुनवाई की तारीख / Date Of Hearing: 11/10/2023 घोषणा की तारीख /Date Of Pronouncement: 11/12/2023 आदेश / O R D E R Per Bench: These Are Appeals Preferred By The Revenue & Respective Cross Objections (‘Co’) Filed By The Assessee Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)/Nfac, Delhi [In Short ‘Ld. Cit(A)’] Dated 31-03-2023 For Ay 2008-09 & Ay 2010-11 Respectively.

For Appellant: NoneFor Respondent: Shri Ajay Chandra (DR)
Section 115Section 115JSection 143(3)Section 80I

…e eligible for the benefit u/s.80IA. 31. With regard to sales tax exemption benefit being treated as capital receipt, she relied on the decision of Jammu and Kashmir High Court in the case of Shree Balaji Alloys v. CIT [2011] 198 Taxman 122/9 taxmann.com 255/333 ITR 335, Bombay High Court in case of CIT v. Chaphalkar Brothers [2013] 33 taxmann.com 431/215 Taxman 145 (Mag.)/351 ITR 309. 32. With regard to disallowance made u/s.14, she relied on the findings recorded by lower authorities. 33. We have considered rival contentions, carefully gone through the orders of the authorities below and materials placed befo…

Assistant Commissioner of Income Tax, Circle-(1), Raipur vs. Shri Bajrang Power and Ispat Ltd., Raipur

The appeal of the revenue is dismissed in terms of our aforesaid observations

ITA 201/RPR/2022[2012-13]Status: PendingITAT Raipur16 Oct 2023AY 2012-13

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 201/Rpr/2022 "नधा"रण वष" / Assessment Years : 2012-13 The Assistant Commissioner Of Income Tax, Circle-1(1), Raipur. .......अपीलाथ" / Appellant बनाम / V/S. Shri Bajrang Power & Ispat Limited, 00, Vill. Borjhara, Urla Guma Road, Raipur-493221. Pan : Aaccb2944D ……""यथ" / Respondent

For Appellant: Shri Amit M. Jain, AdvFor Respondent: Dr. Simran Bhullar, CIT-DR
Section 115JSection 143(2)Section 143(3)Section 14ASection 80I

…owing case laws: - CIT vs. Ponni Sugars & Chemicals Ltd. & Ors.(2008) 306 ITR 392(SC) - CIT vs. Rasoi Ltd. & Ors. (2011) 335 ITR 438 (Calcutta) - CIT Vs. Ponni Sugars & Chemicals Ltd. & Ors. (2oo8) 306 ITR 392(SC) -Shree Balaji Alls & Ors. vs. CH & Ors.(2011) 333 ITR 335 (J & K) - CIT & ANR vs. Udupi Builders (P) Ltd. (2009) 319 ITR 44o (Karnataka) - Sasisri Extraction Ltd. vs. ACIT 119 TTJ (Visakha) 976 -DCIT vs. Reliance Industries ltd. (2004) 82 TET (Mumbai) (SB) 765” However, the A.O. did not find favor with the aforesaid claim of the assessee company. The A.O observed that the subsidy given by the State Gov…

Assistant Commissioner of Income Tax, Nagpur vs. M/S. Bilt Graphic Paper Products Limited, Gurgaon

ITA 120/NAG/2018[2012-2013]Status: DisposedITAT Nagpur14 Sept 2023AY 2012-2013

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Appellant: Shri Kishore DewaniFor Respondent: Shri Maurya Pratap
Section 115JSection 143(1)Section 143(2)Section 143(3)

…ree with the detailed reasons as observed in the appellate order. for assessment year 2008-09 for deletion of similar addition made at the hands of assessee. The Hon’ble High Court of Jammu & Kashmir in the case of Shree Balaji Alloys & Ors vs CIT reported at 331 ITR 335 has held that Excise Duty refund and interest subsidy received in pursuance to New Industrial Policy of Government with the objects of acceleration of Industrial Development and generation of employment is capital receipt at the hands of assessee. Civil appeal filed by revenue in C.A. No.10061 of 2011 before Apex Court has been dismissed vide jud…

Assistant Commissioner of Income Tax, Nagpur vs. M/S. Bilt Graphic Paper Products Limited, Gurgaon

ITA 214/NAG/2017[2013-14]Status: DisposedITAT Nagpur14 Sept 2023AY 2013-14

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Appellant: Shri Kishore DewaniFor Respondent: Shri Maurya Pratap
Section 115JSection 143(1)Section 143(2)Section 143(3)

…ree with the detailed reasons as observed in the appellate order. for assessment year 2008-09 for deletion of similar addition made at the hands of assessee. The Hon’ble High Court of Jammu & Kashmir in the case of Shree Balaji Alloys & Ors vs CIT reported at 331 ITR 335 has held that Excise Duty refund and interest subsidy received in pursuance to New Industrial Policy of Government with the objects of acceleration of Industrial Development and generation of employment is capital receipt at the hands of assessee. Civil appeal filed by revenue in C.A. No.10061 of 2011 before Apex Court has been dismissed vide jud…

I.T.O. Ward -5(1), Nagpur vs. M/S Bilt Graphic Paper Product Ltd

ITA 564/NAG/2016[2009-10]Status: DisposedITAT Nagpur14 Sept 2023AY 2009-10

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Appellant: Shri Kishore DewaniFor Respondent: Shri Maurya Pratap
Section 115JSection 143(1)Section 143(2)Section 143(3)

…ree with the detailed reasons as observed in the appellate order. for assessment year 2008-09 for deletion of similar addition made at the hands of assessee. The Hon’ble High Court of Jammu & Kashmir in the case of Shree Balaji Alloys & Ors vs CIT reported at 331 ITR 335 has held that Excise Duty refund and interest subsidy received in pursuance to New Industrial Policy of Government with the objects of acceleration of Industrial Development and generation of employment is capital receipt at the hands of assessee. Civil appeal filed by revenue in C.A. No.10061 of 2011 before Apex Court has been dismissed vide jud…

M/S Bilt Grapic Paper Product Ltd vs. I.T.O. Ward -5(1), Nagpur

ITA 563/NAG/2016[2010-11]Status: DisposedITAT Nagpur14 Sept 2023AY 2010-11

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Appellant: Shri Kishore DewaniFor Respondent: Shri Maurya Pratap
Section 115JSection 143(1)Section 143(2)Section 143(3)

…ree with the detailed reasons as observed in the appellate order. for assessment year 2008-09 for deletion of similar addition made at the hands of assessee. The Hon’ble High Court of Jammu & Kashmir in the case of Shree Balaji Alloys & Ors vs CIT reported at 331 ITR 335 has held that Excise Duty refund and interest subsidy received in pursuance to New Industrial Policy of Government with the objects of acceleration of Industrial Development and generation of employment is capital receipt at the hands of assessee. Civil appeal filed by revenue in C.A. No.10061 of 2011 before Apex Court has been dismissed vide jud…

M/S Bilt Grapic Paper Product Ltd vs. I.T.O. Ward -5(1), Nagpur

ITA 562/NAG/2016[2009-10]Status: DisposedITAT Nagpur14 Sept 2023AY 2009-10

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Appellant: Shri Kishore DewaniFor Respondent: Shri Maurya Pratap
Section 115JSection 143(1)Section 143(2)Section 143(3)

…ree with the detailed reasons as observed in the appellate order. for assessment year 2008-09 for deletion of similar addition made at the hands of assessee. The Hon’ble High Court of Jammu & Kashmir in the case of Shree Balaji Alloys & Ors vs CIT reported at 331 ITR 335 has held that Excise Duty refund and interest subsidy received in pursuance to New Industrial Policy of Government with the objects of acceleration of Industrial Development and generation of employment is capital receipt at the hands of assessee. Civil appeal filed by revenue in C.A. No.10061 of 2011 before Apex Court has been dismissed vide jud…

I.T.O. Ward -5(1), Nagpur vs. M/S Bilt Graphic Paper Product Ltd

ITA 561/NAG/2016[2010-11]Status: DisposedITAT Nagpur14 Sept 2023AY 2010-11

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Appellant: Shri Kishore DewaniFor Respondent: Shri Maurya Pratap
Section 115JSection 143(1)Section 143(2)Section 143(3)

…ree with the detailed reasons as observed in the appellate order. for assessment year 2008-09 for deletion of similar addition made at the hands of assessee. The Hon’ble High Court of Jammu & Kashmir in the case of Shree Balaji Alloys & Ors vs CIT reported at 331 ITR 335 has held that Excise Duty refund and interest subsidy received in pursuance to New Industrial Policy of Government with the objects of acceleration of Industrial Development and generation of employment is capital receipt at the hands of assessee. Civil appeal filed by revenue in C.A. No.10061 of 2011 before Apex Court has been dismissed vide jud…

Acc Limited, Mumbai vs. DCIT (Ltu), Mumbai

In the result, appeal filed by department is dismissed

ITA 800/MUM/2022[2013-14]Status: DisposedITAT Mumbai30 Jun 2023AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms Kavitha Rajagopal, Hon'Blem/S. Acc Limited V. Dcit (Ltu) 121, Cement House, M.K. Road 29Th Floor, Center-1 Churchgate, Mumbai-400020 World Trade Centre, Cuffe Parade Mumbai - 400005 Pan: Aaact1507C (Appellant) (Respondent) Asst. Cit – 3(4) V. M/S. Acc Limited 29Th Floor, Center-1 Cement House,121, M.K. Road World Trade Centre, Cuffe Parade Churchgate, Mumbai-400020 Mumbai-400005 Pan: Aaact1507C (Appellant) (Respondent)

Section 14A

…manner is irrelevant, as has been held in both Ponni Sugar and Sahney Steel. 23. Mr. Ganesh, learned Senior Counsel, also sought to rely upon a judgment of the Jammu and Kashmir High Court in Shree Balaji Alloys v. CIT [2011] 9 taxmann.com 255/198 Taxman 122/ 333 ITR 335. While considering the scheme of refund of excise duty and interest subsidy in that case, it was held that the scheme was capital in nature, despite the fact that the incentives were not available unless and until Page No. | 14 ITA NO.4669& 4556/MUM/2012 (A.Y: 2007-08) M/s. ACC Limited commercial production has started, and that the incentives i…

Asst. Commissioner of Income Tax-3(4), Mumbai-400005 vs. M/S. Acc Limited, Mumbai-400020

In the result, appeal filed by department is dismissed

ITA 1171/MUM/2022[2013-14]Status: DisposedITAT Mumbai30 Jun 2023AY 2013-14

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms Kavitha Rajagopal, Hon'Blem/S. Acc Limited V. Dcit (Ltu) 121, Cement House, M.K. Road 29Th Floor, Center-1 Churchgate, Mumbai-400020 World Trade Centre, Cuffe Parade Mumbai - 400005 Pan: Aaact1507C (Appellant) (Respondent) Asst. Cit – 3(4) V. M/S. Acc Limited 29Th Floor, Center-1 Cement House,121, M.K. Road World Trade Centre, Cuffe Parade Churchgate, Mumbai-400020 Mumbai-400005 Pan: Aaact1507C (Appellant) (Respondent)

Section 14A

…manner is irrelevant, as has been held in both Ponni Sugar and Sahney Steel. 23. Mr. Ganesh, learned Senior Counsel, also sought to rely upon a judgment of the Jammu and Kashmir High Court in Shree Balaji Alloys v. CIT [2011] 9 taxmann.com 255/198 Taxman 122/ 333 ITR 335. While considering the scheme of refund of excise duty and interest subsidy in that case, it was held that the scheme was capital in nature, despite the fact that the incentives were not available unless and until Page No. | 14 ITA NO.4669& 4556/MUM/2012 (A.Y: 2007-08) M/s. ACC Limited commercial production has started, and that the incentives i…

Puri Oil Mills Ltd, New Delhi vs. ACIT, Circle-20(1), New Delhi

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

ITA 7726/DEL/2019[2013-14]Status: DisposedITAT Delhi30 Jun 2023AY 2013-14

Bench: Dr. B. R. R. Kumar & Sh. Yogesh Kumar U.S.

Section 143(3)Section 2(24)Section 44A

…d be on capital account." The assessee also relies upon the following judicial precedents in its favor 1) Dy. CT v. Reliance Industries Ltd. (Mum)-SB 88 ITD 273 2) CIT v Reliance Industries Ltd. (Bom)-339 ITR 632 3. Balaji Alloys & Ors. Vs. CIT(A) (J & K) 333 ITR 335 15. The documents produced by the assessee and the contentions raised by the assessee had been adjudicated by the A.O. during the original assessment wherein the A.O. has specifically examined the issue of capital subsidy received/accrued of Rs.4.80 Crore and the Ld. A.O. has not made the addition on the said count, accordingly passed the ass…

Puri Oil Mills Ltd., New Delhi vs. ACIT, Circle- 20(1), New Delhi

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

ITA 6971/DEL/2018[2012-13]Status: DisposedITAT Delhi30 Jun 2023AY 2012-13

Bench: Dr. B. R. R. Kumar & Sh. Yogesh Kumar U.S.

Section 143(3)Section 2(24)Section 44A

…d be on capital account." The assessee also relies upon the following judicial precedents in its favor 1) Dy. CT v. Reliance Industries Ltd. (Mum)-SB 88 ITD 273 2) CIT v Reliance Industries Ltd. (Bom)-339 ITR 632 3. Balaji Alloys & Ors. Vs. CIT(A) (J & K) 333 ITR 335 15. The documents produced by the assessee and the contentions raised by the assessee had been adjudicated by the A.O. during the original assessment wherein the A.O. has specifically examined the issue of capital subsidy received/accrued of Rs.4.80 Crore and the Ld. A.O. has not made the addition on the said count, accordingly passed the ass…

DCIT Central Circle-31, New Delhi vs. Maral Overseas Ltd, West Nirmar

In the result, the appeal of the Assessee in ITA No

ITA 1922/DEL/2020[2015-16]Status: DisposedITAT Delhi17 May 2023AY 2015-16
Section 132Section 14A

…as held to be capital receipt on the basis of principle laid down in the case of Sahney Steel 8s Press Works Ltd. v. CIT(SC) and CIT v. Ponni Sugars 85 Chemicals Ltd(SC). The landmark decision of Jammu and Kashmir High Court in the case of Shree Balaji Alloys 333 ITR 335 has also been upheld by Apex Court as reported in [2016] 287 CTR 459 (SC). 8.5. In view of unequivocal principle laid down by Supreme Court and find recorded as above, I have no hesitation in holding that claim of exemptor respect of subsidies received under TUFs withstands the Purpose test : demands acceptance. Accordingly, I hereby direct the…

DCIT Central Circle-31, New Delhi vs. Maral Overseas Ltd, West Nirmar

In the result, the appeal of the Assessee in ITA No

ITA 1921/DEL/2020[2014-15]Status: DisposedITAT Delhi17 May 2023AY 2014-15
Section 132Section 14A

…as held to be capital receipt on the basis of principle laid down in the case of Sahney Steel 8s Press Works Ltd. v. CIT(SC) and CIT v. Ponni Sugars 85 Chemicals Ltd(SC). The landmark decision of Jammu and Kashmir High Court in the case of Shree Balaji Alloys 333 ITR 335 has also been upheld by Apex Court as reported in [2016] 287 CTR 459 (SC). 8.5. In view of unequivocal principle laid down by Supreme Court and find recorded as above, I have no hesitation in holding that claim of exemptor respect of subsidies received under TUFs withstands the Purpose test : demands acceptance. Accordingly, I hereby direct the…

ITO, Ward- 34(1), New Delhi vs. Modern Papers, Delhi

ITA 4426/DEL/2018[2013-14]Status: DisposedITAT Delhi15 May 2023AY 2013-14

Bench: Sh. Anil Chaturvedi & Sh.Anubhav Sharmaita No. 4426/Del/2018, A.Y. 2013-14 Ito, Vs. M/S. Modern Papers Ward-34(1), A-88, Ashok Vihar, New Delhi Phase-1, New Delhi Pan : Aaqfm2930H

Section 143(3)Section 40A(2)(b)

…13-14 a Co-ordinate bench decision in M/s. Crystal Crop Protection Pvt. Ltd. vs. DCIT dated 19.12.2019 in ITA no. 1539/Del/2016 was relied which in turn had further relied the judgment of Hon’ble Jammu and Kashmir High Court in CIT vs. Shree Balaji Alloys CIT 333 ITR 335 which has been further sustained with Hon’ble Apex Court. The cumulative effect of same is that excise duty subsidy and interest subsidies given in pursuant of new industrial policy were held to be capital receipts. No distinction, as attempted by Ld. AO, can be drawn on the basis that as earlier income was subject to benefit of weighed deduction…

DCIT(Ltu) - 1, Mumbai vs. Acc Ltd., Mumbai

In the result, appeal filed by assessee is partly allowed and appeal filed by the revenue is dismissed

ITA 3178/MUM/2019[2011-12]Status: DisposedITAT Mumbai28 Feb 2023AY 2011-12

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

Section 14Section 143(3)Section 14A

…be eligible for the benefit u/s.80IA. 31. With regard to sales tax exemption benefit being treated as capital receipt, she relied on the decision of Jammu and Kashmir High Court in the case of Shree Balaji Alloys v. CIT [2011] 198 Taxman 122/9 taxmann.com 255/333 ITR 335, Bombay High Court in case of CIT v. Chaphalkar Brothers [2013] 33 taxmann.com 431/215 Taxman 145 (Mag.)/351 ITR 309. 32. With regard to disallowance made u/s.14, she relied on the findings recorded by lower authorities. 33. We have considered rival contentions, carefully gone through the orders of the authorities below and materials placed befor…

DCIT(Ltu) - 1, Mumbai vs. Acc Ltd., Mumbai

In the result, appeal filed by assessee is partly allowed

ITA 3177/MUM/2019[2010-11]Status: DisposedITAT Mumbai28 Feb 2023AY 2010-11

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

Section 143(3)Section 147Section 148Section 151

…be eligible for the benefit u/s.80IA. 31. With regard to sales tax exemption benefit being treated as capital receipt, she relied on the decision of Jammu and Kashmir High Court in the case of Shree Balaji Alloys v. CIT [2011] 198 Taxman 122/9 taxmann.com 255/333 ITR 335, Bombay High Court in case of CIT v. Chaphalkar Brothers [2013] 33 taxmann.com 431/215 Taxman 145 (Mag.)/351 ITR 309. 32. With regard to disallowance made u/s.14, she relied on the findings recorded by lower authorities. 33. We have considered rival contentions, carefully gone through the orders of the authorities below and materials placed befor…

DCIT(Ltu) - 1, Mumbai vs. Acc Ltd., Mumbai

In the result, appeal filed by assessee is partly allowed

ITA 3176/MUM/2019[2009-10]Status: DisposedITAT Mumbai28 Feb 2023AY 2009-10

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

Section 143(3)Section 147Section 148Section 151Section 55A

…tax exemption benefit being treated as capital receipt, she relied on the decision of Jammu and Kashmir High Court in 33 ITA NO.3135& 3136/MUM/2019 (A.Y: 2009-10) M/s. ACC Limited the case of Shree Balaji Alloys v. CIT [2011] 198 Taxman 122/9 taxmann.com 255/333 ITR 335, Bombay High Court in case of CIT v. Chaphalkar Brothers [2013] 33 taxmann.com 431/215 Taxman 145 (Mag.)/351 ITR 309. 32. With regard to disallowance made u/s.14, she relied on the findings recorded by lower authorities. 33. We have considered rival contentions, carefully gone through the orders of the authorities below and materials placed befor…

Acc Ltd., Mumbai vs. Addl CIT(Ltu), Mumbai

In the result, appeal filed by assessee is partly allowed and appeal filed by the revenue is dismissed

ITA 3139/MUM/2019[2011-12]Status: DisposedITAT Mumbai28 Feb 2023AY 2011-12

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Ble

Section 14Section 143(3)Section 14A

…be eligible for the benefit u/s.80IA. 31. With regard to sales tax exemption benefit being treated as capital receipt, she relied on the decision of Jammu and Kashmir High Court in the case of Shree Balaji Alloys v. CIT [2011] 198 Taxman 122/9 taxmann.com 255/333 ITR 335, Bombay High Court in case of CIT v. Chaphalkar Brothers [2013] 33 taxmann.com 431/215 Taxman 145 (Mag.)/351 ITR 309. 32. With regard to disallowance made u/s.14, she relied on the findings recorded by lower authorities. 33. We have considered rival contentions, carefully gone through the orders of the authorities below and materials placed befor…