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 367,154 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

Birla Corporation Limited, Kolkata vs. DCIT, Cir-6(1), Kolkata

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 494/KOL/2020[2011-12]Status: DisposedITAT Kolkata31 Oct 2022AY 2011-12

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

…er dated August 25, 2017 (Page 137 at pages 139-140 of the Paper Book – paragraphs 6 at 6.2). In the order dated August 25, 2017, the Hon’ble Tribunal also considered the judgment of the Hon’ble Jammu & Kashmir High Court in Shree Balaji Alloys v. CIT, (2011) 333 ITR 335 (J & K) and the judgment of the Hon’ble Supreme Court on appeal therefrom reported as CIT v. Shree Balaji Alloys, (2017) 80 taxmann.com 239 (SC) as also the judgment of the Hon’ble Supreme Court in CIT v. Meghalaya Steels Limited, (2016) 383 ITR 217 (SC).The order dated August 25, 2017 for the assessment years 2008-09 and 2009-10 was followed by…

DCIT, Circle - 6(1), Kolkata vs. M/S. Birla Corporation Ltd., Kolkata

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 2112/KOL/2018[2012-13]Status: DisposedITAT Kolkata31 Oct 2022AY 2012-13

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

…er dated August 25, 2017 (Page 137 at pages 139-140 of the Paper Book – paragraphs 6 at 6.2). In the order dated August 25, 2017, the Hon’ble Tribunal also considered the judgment of the Hon’ble Jammu & Kashmir High Court in Shree Balaji Alloys v. CIT, (2011) 333 ITR 335 (J & K) and the judgment of the Hon’ble Supreme Court on appeal therefrom reported as CIT v. Shree Balaji Alloys, (2017) 80 taxmann.com 239 (SC) as also the judgment of the Hon’ble Supreme Court in CIT v. Meghalaya Steels Limited, (2016) 383 ITR 217 (SC).The order dated August 25, 2017 for the assessment years 2008-09 and 2009-10 was followed by…

DCIT, Circle - 6(1), Kolkata vs. M/S. Birla Corporation Ltd., Kolkata

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 2111/KOL/2018[2011-12]Status: DisposedITAT Kolkata31 Oct 2022AY 2011-12

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

…er dated August 25, 2017 (Page 137 at pages 139-140 of the Paper Book – paragraphs 6 at 6.2). In the order dated August 25, 2017, the Hon’ble Tribunal also considered the judgment of the Hon’ble Jammu & Kashmir High Court in Shree Balaji Alloys v. CIT, (2011) 333 ITR 335 (J & K) and the judgment of the Hon’ble Supreme Court on appeal therefrom reported as CIT v. Shree Balaji Alloys, (2017) 80 taxmann.com 239 (SC) as also the judgment of the Hon’ble Supreme Court in CIT v. Meghalaya Steels Limited, (2016) 383 ITR 217 (SC).The order dated August 25, 2017 for the assessment years 2008-09 and 2009-10 was followed by…

Addl CIT 3(1), Mumbai vs. Ambuja Cements Ltd ( Formerly Gujarat Ambuja Cements Ltd), Mumbai

In the result, the appeal of the revenue is dismissed

ITA 5927/MUM/2012[2005-06]Status: DisposedITAT Mumbai31 Oct 2022AY 2005-06
Section 143(3)

…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 commercial production has started, and that the incentives in the form of excise duty or interest subsidy were not given to the assess…

Ambuja Cements Ltd ( Formelry Known As Gujarat Ambuja Cements Ltd), Mumbai vs. Addl CIT RG 3(1), Mumbai

In the result, the appeal of the revenue is dismissed

ITA 5883/MUM/2012[2005-06]Status: DisposedITAT Mumbai31 Oct 2022AY 2005-06
Section 143(3)

…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 commercial production has started, and that the incentives in the form of excise duty or interest subsidy were not given to the assess…

ACIT Cent. Cir 3(3), Mumbai vs. M/S. Aym Syntex Ltd, Mumbai

ITA 2550/MUM/2021[2014-15]Status: DisposedITAT Mumbai29 Sept 2022AY 2014-15

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2013-14 M/s AYM Syntex Ltd. (formerly DCIT-Central Circel-3(3), known as M/s Welspun Syntex Ltd.), Air India Building Nariman 9th floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. PAN No. AAACW 0489 L Appellant Respondent Assessment Year: 2014-15 M/s AYM Syntex Ltd. (formerly DCIT-Central Circel-3(3), known as M/s Welspun Syntex Ltd.), Air India Building Nariman 9th floor, B Wing, Trade World, Vs.…

ACIT- CC -3, Mumbai vs. Aym Syntex Ltd., Mumbai

ITA 2549/MUM/2021[2015-16]Status: DisposedITAT Mumbai29 Sept 2022AY 2015-16

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2013-14 M/s AYM Syntex Ltd. (formerly DCIT-Central Circel-3(3), known as M/s Welspun Syntex Ltd.), Air India Building Nariman 9th floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. PAN No. AAACW 0489 L Appellant Respondent Assessment Year: 2014-15 M/s AYM Syntex Ltd. (formerly DCIT-Central Circel-3(3), known as M/s Welspun Syntex Ltd.), Air India Building Nariman 9th floor, B Wing, Trade World, Vs.…

Aym Syntex Ltd. (Formerly Known As M/S. Welspun Syntex Ltd.), Mumbai vs. DCIT- CC- 3(4), Mumbai

ITA 2342/MUM/2021[2015-16]Status: DisposedITAT Mumbai29 Sept 2022AY 2015-16

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2013-14 M/s AYM Syntex Ltd. (formerly DCIT-Central Circel-3(3), known as M/s Welspun Syntex Ltd.), Air India Building Nariman 9th floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. PAN No. AAACW 0489 L Appellant Respondent Assessment Year: 2014-15 M/s AYM Syntex Ltd. (formerly DCIT-Central Circel-3(3), known as M/s Welspun Syntex Ltd.), Air India Building Nariman 9th floor, B Wing, Trade World, Vs.…

M/S. Aym Syntex Ltd (Formerly Known As M/S. Welspun Syntex Ltd, Mumbai vs. DCIT -Cent Cir-3(4), Mumbai

ITA 2341/MUM/2021[2014-15]Status: DisposedITAT Mumbai29 Sept 2022AY 2014-15

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2013-14 M/s AYM Syntex Ltd. (formerly DCIT-Central Circel-3(3), known as M/s Welspun Syntex Ltd.), Air India Building Nariman 9th floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. PAN No. AAACW 0489 L Appellant Respondent Assessment Year: 2014-15 M/s AYM Syntex Ltd. (formerly DCIT-Central Circel-3(3), known as M/s Welspun Syntex Ltd.), Air India Building Nariman 9th floor, B Wing, Trade World, Vs.…

Aym Syntex Ltd.(Formerly Known As M/S. Welspun Syntex Ltd.), Mumbai vs. DCIT- CC- 3(3), Mumbai

ITA 2340/MUM/2021[2013-14]Status: DisposedITAT Mumbai29 Sept 2022AY 2013-14

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A” MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) Assessment Year: 2013-14 M/s AYM Syntex Ltd. (formerly DCIT-Central Circel-3(3), known as M/s Welspun Syntex Ltd.), Air India Building Nariman 9th floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. PAN No. AAACW 0489 L Appellant Respondent Assessment Year: 2014-15 M/s AYM Syntex Ltd. (formerly DCIT-Central Circel-3(3), known as M/s Welspun Syntex Ltd.), Air India Building Nariman 9th floor, B Wing, Trade World, Vs.…

ACIT, Central Circle-3, New Delhi vs. Insecticides (India) Ltd, New Delhi

In the result, the appeal filed by the Revenue Department stands dismissed and that of the Assessee stands allowed

ITA 4873/DEL/2017[2013-14]Status: DisposedITAT Delhi12 Sept 2022AY 2013-14

Bench: Dr. B.R.R. Kumar & Shri N.K. Choudhryassessment Year: 2013-14

For Appellant: Sh.Ved Jain, Ld. AdvocateFor Respondent: Ms.Sapna Bhatia, Ld. CIT/DR
Section 143(2)Section 250Section 80I

…nue receipts’ and deleted the addition on that account under the normal provisions of the Act by holding as under : “4. The issue in this appeal is covered in favour of the appellant on merits by the order of Hon'ble High Court of Jammu & Kashmir reported in 333 ITR 335. The SLP filed against the said case has been dismissed by the Hon'ble Apex Court. For reference the head note of the order of reported in 333 ITR 0335 in the case of Shree Balaji Alloys &Ors. is reproduced nere in under:- "Tribunal has relied upon five factors to hold the incentives in question as production incentives but without dealing with t…

M/S. Insecticides (India) Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal filed by the Revenue Department stands dismissed and that of the Assessee stands allowed

ITA 3297/DEL/2017[2013-14]Status: DisposedITAT Delhi12 Sept 2022AY 2013-14

Bench: Dr. B.R.R. Kumar & Shri N.K. Choudhryassessment Year: 2013-14

For Appellant: Sh.Ved Jain, Ld. AdvocateFor Respondent: Ms.Sapna Bhatia, Ld. CIT/DR
Section 143(2)Section 250Section 80I

…nue receipts’ and deleted the addition on that account under the normal provisions of the Act by holding as under : “4. The issue in this appeal is covered in favour of the appellant on merits by the order of Hon'ble High Court of Jammu & Kashmir reported in 333 ITR 335. The SLP filed against the said case has been dismissed by the Hon'ble Apex Court. For reference the head note of the order of reported in 333 ITR 0335 in the case of Shree Balaji Alloys &Ors. is reproduced nere in under:- "Tribunal has relied upon five factors to hold the incentives in question as production incentives but without dealing with t…

Sun Pharmaceutical Industries, Mumbai vs. JCIT 20(3), Mumbai

In the result appeal of the Revenue is hereby dismissed

ITA 3507/MUM/2016[2011-12]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2011-12

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

For Appellant: Shri S.N. Soparkar, Sr. AdvocateFor Respondent: Shri Mohd Usman, CIT-DR
Section 80I

…e has also been decided in favour of the assessee by the Amritsar Tribunal in assessee’s own case for the assessment year 2005-06 in ITA No.184(Asr)/2009, by following the ratio laid down by the Hon’ble High Court of J&K in case of Shree Balaji Alloys vs. CIT 333 ITR 335 (J&K). The said decision was followed by the Amritsar Tribunal in the assessee’s own case in the subsequent assessment years. We, therefore, respectfully following the decision of the ITAT Amritsar, dismiss this ground of the appeal of the Revenue.” Group Appeals – Sun Pharma Laboratories Ltd (Erstwhile M/s. Sun Pharma Sikkim) AY : 2011-12, 2012…

Aurangabad Electricals Ltd, Pune vs. Deputy Commissioner of Income-Tax, Circle - 8, Pune

In the result, the appeal of assessee is partly allowed for statistical purposes and the appeal of Revenue is dismissed

ITA 225/PUN/2019[2015-16]Status: DisposedITAT Pune20 Jul 2022AY 2015-16

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.199/Pun/2019 निर्धारण वषा / Assessment Year : 2015-16 The Dy. Commissioner Of Income Tax, Circle-8, Pune .......अऩीऱाथी / Appellant बिधम / V/S. M/S. Aurangabad Electricals Limited, B-7, Midc Chakan, Tal Khed, Pune – 410501 Pan: Aacca2867L ……प्रत्यथी / Respondent

For Appellant: Shri Sharad ShahFor Respondent: Shri Arvind Desai
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 commercial production has started, and that the incentives in the form of excise duty or interest subsidy were not given to the assess…

Deputy Commissioner of Income-Tax, Circle - 8, Pune vs. M/S. Aurangabad Electricals Limited, Pune

In the result, the appeal of assessee is partly allowed for statistical purposes and the appeal of Revenue is dismissed

ITA 199/PUN/2019[2015-16]Status: DisposedITAT Pune20 Jul 2022AY 2015-16

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Raviआयकर अपीऱ सं. / Ita No.199/Pun/2019 निर्धारण वषा / Assessment Year : 2015-16 The Dy. Commissioner Of Income Tax, Circle-8, Pune .......अऩीऱाथी / Appellant बिधम / V/S. M/S. Aurangabad Electricals Limited, B-7, Midc Chakan, Tal Khed, Pune – 410501 Pan: Aacca2867L ……प्रत्यथी / Respondent

For Appellant: Shri Sharad ShahFor Respondent: Shri Arvind Desai
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 commercial production has started, and that the incentives in the form of excise duty or interest subsidy were not given to the assess…

Regan Powertech Pvt Ltd, Chennai vs. DCIT, CC-5(1), Chennai

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

ITA 570/CHNY/2021[2014-15]Status: DisposedITAT Chennai15 Jul 2022AY 2014-15

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.476/Chny/2020 िनधा"रण वष"/Assessment Year: 2014-15 The Joint Commissioner Of Vs. M/S. Regen Powertech Pvt. Ltd., Income Tax, Sivanandam, No. 1, Pulla Avenue, Corporate Circle 5(1), Shenoy Nagar, Chennai 600 030. Chennai 600 034. [Pan:Aadcr5531M] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.570/Chny/2021 िनधा"रण वष"/Assessment Year: 2014-15 M/S. Regen Powertech Pvt. Ltd., Vs. The Deputy Commissioner Of Sivanandam, No. 1, Pulla Avenue, Income Tax, Corporate Circle 5(1), Shenoy Nagar, Chennai 600 030. Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) Department By : Shri R. Venkateswara Reddy, Cit Assessee By : Shri B. Ramakrishnan, Fca सुनवाई की तारीख/ Date Of Hearing : 09.05.2022 घोषणा की तारीख /Date Of Pronouncement : 15.07.2022 आदेश /O R D E R Per V. Durga Rao: Both The Cross Appeals Filed By The Revenue & The Assessee Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 3, Chennai, Dated 16.12.2019 For The Assessment Year 2014-

For Appellant: Shri B. Ramakrishnan, FCAFor Respondent: Shri R. Venkateswara Reddy, CIT
Section 37(1)Section 41(1)Section 43B

…आयकर अपीलीय अिधकरण, ’बी’ "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी वी दुगा" राव "ाियक सद" एवं "ी जी. मंजुनाथा, लेखा सद" के सम" Before Shri V. Durga Rao, Judicial Member & Shri G. Manjunatha, Accountant Member आयकर अपील सं./I.T.A. No.476/Chny/2020 िनधा"रण वष"/Assessment Year: 2014-15 The Joint Commissioner of Vs. M/s. Regen Powertech Pvt. Ltd., Income Tax, Sivanandam, No. 1, Pulla Avenue, Corporate Circle 5(1), Shenoy Nagar, Chennai 600 030. Chennai 600 034. [PAN:AADCR5531M] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.570/Chny/2021 िनधा"रण वष"/Assessment Year: 2014-1…

JCIT(OSD) Corporate Circle 5 (1), Chennai vs. Regen Powertech Private Limited, Chennai

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

ITA 476/CHNY/2020[2014-15]Status: DisposedITAT Chennai15 Jul 2022AY 2014-15

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.476/Chny/2020 िनधा"रण वष"/Assessment Year: 2014-15 The Joint Commissioner Of Vs. M/S. Regen Powertech Pvt. Ltd., Income Tax, Sivanandam, No. 1, Pulla Avenue, Corporate Circle 5(1), Shenoy Nagar, Chennai 600 030. Chennai 600 034. [Pan:Aadcr5531M] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.570/Chny/2021 िनधा"रण वष"/Assessment Year: 2014-15 M/S. Regen Powertech Pvt. Ltd., Vs. The Deputy Commissioner Of Sivanandam, No. 1, Pulla Avenue, Income Tax, Corporate Circle 5(1), Shenoy Nagar, Chennai 600 030. Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) Department By : Shri R. Venkateswara Reddy, Cit Assessee By : Shri B. Ramakrishnan, Fca सुनवाई की तारीख/ Date Of Hearing : 09.05.2022 घोषणा की तारीख /Date Of Pronouncement : 15.07.2022 आदेश /O R D E R Per V. Durga Rao: Both The Cross Appeals Filed By The Revenue & The Assessee Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 3, Chennai, Dated 16.12.2019 For The Assessment Year 2014-

For Appellant: Shri B. Ramakrishnan, FCAFor Respondent: Shri R. Venkateswara Reddy, CIT
Section 37(1)Section 41(1)Section 43B

…आयकर अपीलीय अिधकरण, ’बी’ "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी वी दुगा" राव "ाियक सद" एवं "ी जी. मंजुनाथा, लेखा सद" के सम" Before Shri V. Durga Rao, Judicial Member & Shri G. Manjunatha, Accountant Member आयकर अपील सं./I.T.A. No.476/Chny/2020 िनधा"रण वष"/Assessment Year: 2014-15 The Joint Commissioner of Vs. M/s. Regen Powertech Pvt. Ltd., Income Tax, Sivanandam, No. 1, Pulla Avenue, Corporate Circle 5(1), Shenoy Nagar, Chennai 600 030. Chennai 600 034. [PAN:AADCR5531M] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No.570/Chny/2021 िनधा"रण वष"/Assessment Year: 2014-1…

DCIT, New Delhi vs. M/S Insecticides (India) Ltd., Delhi

In the result, the appeal of the Revenue stands allowed for statistical purposes

ITA 1296/DEL/2016[2012-13]Status: DisposedITAT Delhi13 Jul 2022AY 2012-13
For Appellant: Shri Devesh Parekh, CAFor Respondent: Shri Abhishek Kumar, Sr. DR
Section 143(3)Section 80ISection 8O

…ied upon the decision of Hon'ble Supreme Court in the case of CIT vs. Ponni Sugar & Chemicals Ltd(2008) 306 ITR 393(SC). The assessee has also relied upon the judgement of Hon'ble High Court of J & K delivered in the case of Shree Balaji Alloys vs. CIT (2011) 333 ITR 335(J&K). 4.2 It is further noticed that the assessee has excluded indirect and head office expenses from the units against which deduction u/s 80IB has been claimed and thereby enhanced the claim u/s 80IB on this account. 5 ITA No.1296/Del./2016 4.3 On perusing the assessment records of the company, it is observed that the assessee company has com…

Crystal Corp Protection Ltd., Delhi vs. ACIT, Circle- 5(2), New Delhi

The Appeal of the assessee is allowed

ITA 3930/DEL/2018[2013-14]Status: DisposedITAT Delhi08 Jul 2022AY 2013-14

Bench: Shri B. R. R. Kumar & Sh. Yogesh Kumar Us

…see is allowed. The same is squarely applicable to the facts of the instant case. Further, the matter stands squarely covered by the order of the Hon'ble Jammu & Kashmir High Court in the case of Shri Balaji Alloys 11 M/s Crystal Corp Protection Ltd. Vs CIT 333 ITR 335. The snippets of the order of the Hon'ble High Court and the decision of the Hon'ble Apex Court on the issue is as under: "The assessee, pursuant to the New Industrial Policy announced for the State of J&K, received excise refund and interest subsidy, etc which it claimed to be a capital receipt. In the alternative, it was claimed that the same…

DCIT Circle- 2(1)(1), Mumbai vs. M/S Bombay Dyeing & Manufacturing Co. Ltd, Mumbai

ITA 928/MUM/2020[2009-10]Status: DisposedITAT Mumbai05 Jul 2022AY 2009-10

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year : 2009-10 & Assessment Year: 2010-11

For Appellant: Shri Yogesh Thar, A.RFor Respondent: Dr. Yogesh Kamar, D.R
Section 145Section 14ASection 92CSection 92F

…that the point of time at which the subsidy is paid is not relevant, the source is irrelevant and the form of subsidy is irrelevant. Attention is also invited to a recent decision of the Hon'ble Jammu & Kashmir High Court in Shri Balaji Alloys vs. CIT (2011) 333 ITR 335 (J&K), wherein, considering Ponni Sugar (supra) and Sahney Steel (supra) it is held that the excise duty refund, interest subsidy and insurance subsidy received under a State Scheme are of 'capital' in nature. In arriving at its decision, the High Court noted that the foregoing incentives were given to achieve dual objectives, viz. acceleration o…