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

ACIT, Hisar vs. M/S Jindal Steel & Power Ltd., Hisar

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

ITA 220/DEL/2009[2003-04]Status: DisposedITAT Delhi01 Dec 2021AY 2003-04

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Date of Hearing
Section 115JSection 143(3)Section 234BSection 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH “D”: NEW DELHI ] BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND DR. B.R.R. KUMAR, ACCOUNTANT MEMBER (Through Video Conferencing) ITA. No. 167/Del/2009 ITA. No. 413/Del/2010 AND ITA. Nos. 2280 & 4185/Del/2011. (Assessment Years: 2003-04, 2006-07, 2007-08 & 2008-09) M/s. Jindal Steel & Power Addl. CIT, Limited, Jindal Centre, Vs. Hisar Range, 12–BhikajiCama Place, Hisar, Haryana. New Delhi – 110 066. PAN: AAACJ7097D A N D ITA. No. 220/Del/2009 ITA. No. 341/Del/2010 AND ITA. Nos. 2230 & 4067/Del/2011. (Assessment Years: 2003-04, 2006-07, 2007-08 & 2008-09) ACIT, M/…

Jindal Steel & Power Limited vs. Addl. CIT

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

ITA 167/DEL/2009[2003-04]Status: DisposedITAT Delhi01 Dec 2021AY 2003-04

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Date of Hearing
Section 115JSection 143(3)Section 234BSection 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH “D”: NEW DELHI ] BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND DR. B.R.R. KUMAR, ACCOUNTANT MEMBER (Through Video Conferencing) ITA. No. 167/Del/2009 ITA. No. 413/Del/2010 AND ITA. Nos. 2280 & 4185/Del/2011. (Assessment Years: 2003-04, 2006-07, 2007-08 & 2008-09) M/s. Jindal Steel & Power Addl. CIT, Limited, Jindal Centre, Vs. Hisar Range, 12–BhikajiCama Place, Hisar, Haryana. New Delhi – 110 066. PAN: AAACJ7097D A N D ITA. No. 220/Del/2009 ITA. No. 341/Del/2010 AND ITA. Nos. 2230 & 4067/Del/2011. (Assessment Years: 2003-04, 2006-07, 2007-08 & 2008-09) ACIT, M/…

DCIT, New Delhi vs. M/S. Uflex Ltd., New Delhi

In the result, the appeal of the assessee is allowed and the appeal of the Revenue is dismissed

ITA 1855/DEL/2015[2010-11]Status: DisposedITAT Delhi30 Nov 2021AY 2010-11

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

For Appellant: Shri M. P. RastogiFor Respondent: Shri S. Najmi [CIT] – D. R
Section 115JSection 14ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH “D”: NEW DELHI ] BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND DR. B.R.R. KUMAR, ACCOUNTANT MEMBER (Through Video Conferencing) ITA. No. 1329/Del/2015 (Assessment Year: 2010-11) Uflex Limited, ACIT, 305, 3rd Floor,Bhanot Vs. Central Circle :27, Corner, New Delhi. Pamposh Enclave, Gr. Kailash–I, New Delhi – 110 048. PAN: AAACF0109J AND ITA. No. 1855/Del/2015 (Assessment Year: 2010-11) DCIT, Uflex Limited, Central Circle : 18, Vs. 305, 3rd Floor, Bhanot New Delhi. Corner, Pamposh Enclave, Gr.Kailash–I New Delhi – 110 048. PAN: AAACF0109J (Appellants) (Respondents)…

Uflex Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee is allowed and the appeal of the Revenue is dismissed

ITA 1329/DEL/2015[2010-11]Status: DisposedITAT Delhi30 Nov 2021AY 2010-11

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

For Appellant: Shri M. P. RastogiFor Respondent: Shri S. Najmi [CIT] – D. R
Section 115JSection 14ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH “D”: NEW DELHI ] BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND DR. B.R.R. KUMAR, ACCOUNTANT MEMBER (Through Video Conferencing) ITA. No. 1329/Del/2015 (Assessment Year: 2010-11) Uflex Limited, ACIT, 305, 3rd Floor,Bhanot Vs. Central Circle :27, Corner, New Delhi. Pamposh Enclave, Gr. Kailash–I, New Delhi – 110 048. PAN: AAACF0109J AND ITA. No. 1855/Del/2015 (Assessment Year: 2010-11) DCIT, Uflex Limited, Central Circle : 18, Vs. 305, 3rd Floor, Bhanot New Delhi. Corner, Pamposh Enclave, Gr.Kailash–I New Delhi – 110 048. PAN: AAACF0109J (Appellants) (Respondents)…

DCIT, CC-3(3), Kolkata vs. M/S Ankit Metal & Power Ltd., Kolkata

In the result, the appeal of Revenue is dismissed

ITA 1493/KOL/2019[2013-14]Status: DisposedITAT Kolkata28 Oct 2021AY 2013-14

Bench: Shri P. M. Jagtap(Kz) & Shri A. T. Varkey]

Section 115JSection 92C(2)

…anner 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…

B R Agrotech Ltd, New Delhi vs. ACIT Circle-4(1), New Delhi

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

ITA 6247/DEL/2019[2014-15]Status: DisposedITAT Delhi02 Sept 2021AY 2014-15

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 6244/Del/2019 : Asstt. Year : 2011-12 Ita No. 6245/Del/2019 : Asstt. Year : 2012-13 Ita No. 6246/Del/2019 : Asstt. Year : 2013-14 Ita No. 6247/Del/2019 : Asstt. Year : 2014-15 M/S B R Agrotech Ltd., Vs Acit, 1505, Vikram Tower, Rajendra Circle-4(1), Place, New Delhi-110008 New Delhi (Appellant) (Respondent) Pan No. Aabcb3432F Assessee By : Sh. S. S. Nagar, Adv. Revenue By : Ms. Alka Gautam, Sr. Dr Date Of Hearing: 28.06.2021 Date Of Pronouncement: 02.09.2021

For Appellant: Sh. S. S. Nagar, AdvFor Respondent: Ms. Alka Gautam, Sr. DR
Section 115JSection 154

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI Before Sh. Amit Shukla, Judicial Member Dr. B. R. R. Kumar, Accountant Member (Through Video Conferencing) ITA No. 6244/Del/2019 : Asstt. Year : 2011-12 ITA No. 6245/Del/2019 : Asstt. Year : 2012-13 ITA No. 6246/Del/2019 : Asstt. Year : 2013-14 ITA No. 6247/Del/2019 : Asstt. Year : 2014-15 M/s B R Agrotech Ltd., Vs ACIT, 1505, Vikram Tower, Rajendra Circle-4(1), Place, New Delhi-110008 New Delhi (APPELLANT) (RESPONDENT) PAN No. AABCB3432F Assessee by : Sh. S. S. Nagar, Adv. Revenue by : Ms. Alka Gautam, Sr. DR Date of Hearing: 28.06.2021 Date of…

B R Agrotech Ltd, New Delhi vs. ACIT Circle-4(1), New Delhi

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

ITA 6246/DEL/2019[2013-14]Status: DisposedITAT Delhi02 Sept 2021AY 2013-14

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 6244/Del/2019 : Asstt. Year : 2011-12 Ita No. 6245/Del/2019 : Asstt. Year : 2012-13 Ita No. 6246/Del/2019 : Asstt. Year : 2013-14 Ita No. 6247/Del/2019 : Asstt. Year : 2014-15 M/S B R Agrotech Ltd., Vs Acit, 1505, Vikram Tower, Rajendra Circle-4(1), Place, New Delhi-110008 New Delhi (Appellant) (Respondent) Pan No. Aabcb3432F Assessee By : Sh. S. S. Nagar, Adv. Revenue By : Ms. Alka Gautam, Sr. Dr Date Of Hearing: 28.06.2021 Date Of Pronouncement: 02.09.2021

For Appellant: Sh. S. S. Nagar, AdvFor Respondent: Ms. Alka Gautam, Sr. DR
Section 115JSection 154

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI Before Sh. Amit Shukla, Judicial Member Dr. B. R. R. Kumar, Accountant Member (Through Video Conferencing) ITA No. 6244/Del/2019 : Asstt. Year : 2011-12 ITA No. 6245/Del/2019 : Asstt. Year : 2012-13 ITA No. 6246/Del/2019 : Asstt. Year : 2013-14 ITA No. 6247/Del/2019 : Asstt. Year : 2014-15 M/s B R Agrotech Ltd., Vs ACIT, 1505, Vikram Tower, Rajendra Circle-4(1), Place, New Delhi-110008 New Delhi (APPELLANT) (RESPONDENT) PAN No. AABCB3432F Assessee by : Sh. S. S. Nagar, Adv. Revenue by : Ms. Alka Gautam, Sr. DR Date of Hearing: 28.06.2021 Date of…

B R Agrotech Ltd, New Delhi vs. ACIT Circle-4(1), New Delhi

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

ITA 6245/DEL/2019[2012-13]Status: DisposedITAT Delhi02 Sept 2021AY 2012-13

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 6244/Del/2019 : Asstt. Year : 2011-12 Ita No. 6245/Del/2019 : Asstt. Year : 2012-13 Ita No. 6246/Del/2019 : Asstt. Year : 2013-14 Ita No. 6247/Del/2019 : Asstt. Year : 2014-15 M/S B R Agrotech Ltd., Vs Acit, 1505, Vikram Tower, Rajendra Circle-4(1), Place, New Delhi-110008 New Delhi (Appellant) (Respondent) Pan No. Aabcb3432F Assessee By : Sh. S. S. Nagar, Adv. Revenue By : Ms. Alka Gautam, Sr. Dr Date Of Hearing: 28.06.2021 Date Of Pronouncement: 02.09.2021

For Appellant: Sh. S. S. Nagar, AdvFor Respondent: Ms. Alka Gautam, Sr. DR
Section 115JSection 154

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI Before Sh. Amit Shukla, Judicial Member Dr. B. R. R. Kumar, Accountant Member (Through Video Conferencing) ITA No. 6244/Del/2019 : Asstt. Year : 2011-12 ITA No. 6245/Del/2019 : Asstt. Year : 2012-13 ITA No. 6246/Del/2019 : Asstt. Year : 2013-14 ITA No. 6247/Del/2019 : Asstt. Year : 2014-15 M/s B R Agrotech Ltd., Vs ACIT, 1505, Vikram Tower, Rajendra Circle-4(1), Place, New Delhi-110008 New Delhi (APPELLANT) (RESPONDENT) PAN No. AABCB3432F Assessee by : Sh. S. S. Nagar, Adv. Revenue by : Ms. Alka Gautam, Sr. DR Date of Hearing: 28.06.2021 Date of…

B R Agrotech Ltd, New Delhi vs. ACIT Circle-4(1), New Delhi

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

ITA 6244/DEL/2019[2011-12]Status: DisposedITAT Delhi02 Sept 2021AY 2011-12

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 6244/Del/2019 : Asstt. Year : 2011-12 Ita No. 6245/Del/2019 : Asstt. Year : 2012-13 Ita No. 6246/Del/2019 : Asstt. Year : 2013-14 Ita No. 6247/Del/2019 : Asstt. Year : 2014-15 M/S B R Agrotech Ltd., Vs Acit, 1505, Vikram Tower, Rajendra Circle-4(1), Place, New Delhi-110008 New Delhi (Appellant) (Respondent) Pan No. Aabcb3432F Assessee By : Sh. S. S. Nagar, Adv. Revenue By : Ms. Alka Gautam, Sr. Dr Date Of Hearing: 28.06.2021 Date Of Pronouncement: 02.09.2021

For Appellant: Sh. S. S. Nagar, AdvFor Respondent: Ms. Alka Gautam, Sr. DR
Section 115JSection 154

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI Before Sh. Amit Shukla, Judicial Member Dr. B. R. R. Kumar, Accountant Member (Through Video Conferencing) ITA No. 6244/Del/2019 : Asstt. Year : 2011-12 ITA No. 6245/Del/2019 : Asstt. Year : 2012-13 ITA No. 6246/Del/2019 : Asstt. Year : 2013-14 ITA No. 6247/Del/2019 : Asstt. Year : 2014-15 M/s B R Agrotech Ltd., Vs ACIT, 1505, Vikram Tower, Rajendra Circle-4(1), Place, New Delhi-110008 New Delhi (APPELLANT) (RESPONDENT) PAN No. AABCB3432F Assessee by : Sh. S. S. Nagar, Adv. Revenue by : Ms. Alka Gautam, Sr. DR Date of Hearing: 28.06.2021 Date of…

Modern Papers, Delhi vs. ITO, Ward- 34(3), New Delhi

In the result, the appeal is allowed

ITA 3931/DEL/2018[2013-14]Status: DisposedITAT Delhi17 Jun 2021AY 2013-14

Bench: Shri Prashant Maharishi & Shri K. Narasimha Charyassessment Year: 2013-14

For Appellant: Sh. S.S. Nagar, C.AFor Respondent: Sh. Sohail Malik, Sr. DR
Section 139(5)

…h Ltd. wherein the appeal of the assessee 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 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…

M/S. Dabur India Ltd., New Delhi vs. Addl.CIT, New Delhi

In the result, the appeals filed by the Revenue are partly allowed and the appeals filed by the assessee are partly allowed for statistical purposes

ITA 6525/DEL/2014[2008-09]Status: DisposedITAT Delhi18 Feb 2021AY 2008-09

Bench: Shri R.K. Panda & Ms Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Anupam Kant Garg, CIT-DR
Section 115JSection 143(1)Section 143(2)Section 143(3)Section 80GSection 80ISection 92CSection 92E

…) Crystal Crop Protection Pvt Ltd. vs. DCIT : ITA No. 1539 of 20l6 (Del ITAT); iv) Tripti Manthol Inds vs. ITO: ITA No, 58 of 2011 (Asr ITAT). 149. He submitted that the appeal against the decision of J&K High Court in the case of Shree Balaji Alloys vs. CIT, 333 ITR 355 has been dismissed by the Hon’ble Supreme Court in the order dated 19th April, 2016 in Civil Appeal No.10061 of 2011. 150. Referring to the decision of the Hon’ble Supreme Court in the case of NTPC vs. CIT, 229 ITR 383, he submitted that the Tribunal has wide powers to admit an additional ground which is necessary to determine the tax liability o…

DCIT, New Delhi vs. M/S. Dabur India Ltd., New Delhi

In the result, the appeals filed by the Revenue are partly allowed and the appeals filed by the assessee are partly allowed for statistical purposes

ITA 6256/DEL/2014[2008-09]Status: DisposedITAT Delhi18 Feb 2021AY 2008-09

Bench: Shri R.K. Panda & Ms Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Anupam Kant Garg, CIT-DR
Section 115JSection 143(1)Section 143(2)Section 143(3)Section 80GSection 80ISection 92CSection 92E

…) Crystal Crop Protection Pvt Ltd. vs. DCIT : ITA No. 1539 of 20l6 (Del ITAT); iv) Tripti Manthol Inds vs. ITO: ITA No, 58 of 2011 (Asr ITAT). 149. He submitted that the appeal against the decision of J&K High Court in the case of Shree Balaji Alloys vs. CIT, 333 ITR 355 has been dismissed by the Hon’ble Supreme Court in the order dated 19th April, 2016 in Civil Appeal No.10061 of 2011. 150. Referring to the decision of the Hon’ble Supreme Court in the case of NTPC vs. CIT, 229 ITR 383, he submitted that the Tribunal has wide powers to admit an additional ground which is necessary to determine the tax liability o…

M/S. Dabur India Ltd., New Delhi vs. Addl.CIT, New Delhi

In the result, the appeals filed by the Revenue are partly allowed and the appeals filed by the assessee are partly allowed for statistical purposes

ITA 3241/DEL/2014[2007-08]Status: DisposedITAT Delhi18 Feb 2021AY 2007-08

Bench: Shri R.K. Panda & Ms Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Anupam Kant Garg, CIT-DR
Section 115JSection 143(1)Section 143(2)Section 143(3)Section 80GSection 80ISection 92CSection 92E

…) Crystal Crop Protection Pvt Ltd. vs. DCIT : ITA No. 1539 of 20l6 (Del ITAT); iv) Tripti Manthol Inds vs. ITO: ITA No, 58 of 2011 (Asr ITAT). 149. He submitted that the appeal against the decision of J&K High Court in the case of Shree Balaji Alloys vs. CIT, 333 ITR 355 has been dismissed by the Hon’ble Supreme Court in the order dated 19th April, 2016 in Civil Appeal No.10061 of 2011. 150. Referring to the decision of the Hon’ble Supreme Court in the case of NTPC vs. CIT, 229 ITR 383, he submitted that the Tribunal has wide powers to admit an additional ground which is necessary to determine the tax liability o…

DCIT, New Delhi vs. M/S. Dabur India Ltd., New Delhi

In the result, the appeals filed by the Revenue are partly allowed and the appeals filed by the assessee are partly allowed for statistical purposes

ITA 3114/DEL/2014[2007-08]Status: DisposedITAT Delhi18 Feb 2021AY 2007-08

Bench: Shri R.K. Panda & Ms Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Anupam Kant Garg, CIT-DR
Section 115JSection 143(1)Section 143(2)Section 143(3)Section 80GSection 80ISection 92CSection 92E

…) Crystal Crop Protection Pvt Ltd. vs. DCIT : ITA No. 1539 of 20l6 (Del ITAT); iv) Tripti Manthol Inds vs. ITO: ITA No, 58 of 2011 (Asr ITAT). 149. He submitted that the appeal against the decision of J&K High Court in the case of Shree Balaji Alloys vs. CIT, 333 ITR 355 has been dismissed by the Hon’ble Supreme Court in the order dated 19th April, 2016 in Civil Appeal No.10061 of 2011. 150. Referring to the decision of the Hon’ble Supreme Court in the case of NTPC vs. CIT, 229 ITR 383, he submitted that the Tribunal has wide powers to admit an additional ground which is necessary to determine the tax liability o…

M/S. Crystal Corp Protection (P) Ltd., Delhi vs. DCIT, New Delhi

In the result, appeal of the assessee in ITA No

ITA 6265/DEL/2015[2012-13]Status: DisposedITAT Delhi28 Jan 2021AY 2012-13

Bench: Shri N.K. Billaiya & Shri Amit Shukla[A.Y 2012-13]

For Appellant: Shri Sandip S. Nagar, CAFor Respondent: Shri Rajesh Kumar, Sr. DR
Section 14ASection 40

…terest and excise duty subsidy has been granted with the objective of development of industries and generation of employment and considering die purpose test and spirit, Hon'ble High Court of Jammu & Kashmir in the case of Shree Balaji Alloys - vs. CIT (2011) 333 ITR 335 (J & K) held that Excise Duty subsidy, Interest Subsidy and Insurance Subsidy received with the object of creating avenues for perpetual employment, to eradicate the social problem of unemployment in the state by accelerated industrial development is capital receipt. Further, your goodself would appreciate that Civil Appeal No. 10061 of 2011 dat…

Prism Cement Ltd, Mumbai vs. DCIT CC 6(1), Mumbai

ITA 804/MUM/2018[2012-13]Status: DisposedITAT Mumbai04 Jan 2021AY 2012-13

Bench: Shri C. N. Prasad, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 804 & 805/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2012-13 & 2011-12)

For Appellant: Shri Vijay Mehta, ARFor Respondent: Shri V. Sreekar, DR
Section 115JSection 143(1)Section 143(2)Section 14A

…e similar case law which are as under:- 39 I.T.A. No. 804 & 805/Mum/2018 871 & 872/Mum/2018 i) Parle Agro Pvt. Ltd. v. ACIT (ITA No. 6209/Mum/2013) dated 30.11.2015 ii) CIT v. Ponni Sugars & Chemicals Ltd [306 ITR 392 (SQ] iii) Shree Balaji Alloys v. CIT [333 ITR 335 (J&K)] upheld by Hon'ble Supreme Court (287 CTR 459) iv) CIT v. Chaphalkar Brothers [400 ITR 279 (SQ] v) PCIT v. Shyam Steel Industries [303 CTR 628 (Cal)] 40. On the other hand, Ld. DR submitted that Ld. CIT(A) has considered the facts and issue raised by the assessee before him and Ld. CIT(A) rejected the contentions of the assessee by givin…

DCIT, Ltu-2, Kolkata vs. M/S Century Plyboards (I), Ltd, Kolkata

In the result, the appeal of the revenue is dismissed and cross objections of assessee are allowed

ITA 2149/KOL/2019[2014-15]Status: DisposedITAT Kolkata04 Nov 2020AY 2014-15

Bench: Shri P.M. Jagtap(Kz) &Shri A. T. Varkey, Jm] Assessment Year: 2014-15

Section 10(34)Section 115JSection 14A

…anner 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 27 ITA No. 2149/Kol/2019 & C.O. No.…

Srf Ltd., New Delhi vs. DCIT (Ltu), New Delhi

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

ITA 5784/DEL/2016[2012-13]Status: DisposedITAT Delhi24 Feb 2020AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Pradeep Dinodia, AdvFor Respondent: Shri H.K. Chaudhary, CIT-D.R
Section 10ASection 115JSection 14ASection 92BSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “I-2” NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER I.T.A. No.5784/DEL/2016 Assessment Year: 2012-13 SRF Limited, vs. Dy. CIT, Circle-1, LTU, C-8, Commercial Complex New Delhi. Safdarganj Development Area, New Delhi. TAN/PAN: AABTA6009L (Appellant) (Respondent) Appellant by: Shri Pradeep Dinodia, Adv. Respondent by: Shri H.K. Chaudhary, CIT-D.R. Date of hearing: 02 12 2019 Date of pronouncement: 24 02 2020 O R D E R PER AMIT SHUKLA, JM The aforesaid appeal has been preferred by the assessee for the assessme…

M/S Crystal Crop Protection Pvt. Ltd., Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is allowed

ITA 1539/DEL/2016[2011-12]Status: DisposedITAT Delhi19 Dec 2019AY 2011-12

Bench: Sh. Bhavnesh Sainidr. B. R. R. Kumarita No. 1539/Del./2016 : Asstt. Year : 2011-12 M/S Crystal Crop Protection (P) Ltd. Vs Dcit, Gi-17, G.T. Karnal Road, Azadpur, Circle-6(2) Delhi-110033 New Delhi (Appellant) (Respondent) Pan No. Aabcj3574E Assessee By : Sh. S. S. Nagar, Ca Revenue By : Ms. Ashima Neb, Sr. Dr Date Of Hearing: 02.12.2019 Date Of Pronouncement: 19.12.2019

For Appellant: Sh. S. S. Nagar, CAFor Respondent: Ms. Ashima Neb, Sr. DR
Section 14ASection 2Section 254

…as been granted with the objective of development of industries and generation o employment and considering the purpose test and spirit, Hon’ble High 5 Crystal Crop Protection (P) Ltd. Court of Jammu & Kashmir in the case of Shree Balaji Alloys Vs CIT (2011) 333 ITR 335 (J&K) held that Excise Duty subsidy, Interest Subsidy and insurance subsidy received with the object of creating avenues for perpetual employment, to eradicate the social problem of unemployment in the state by accelerated industrial development is capital receipt. It was also submitted that the Civil Appeal No. 10061 of 2011 dated 19.04.2016 fil…

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

In the result, appeals are partly allowed for statistical purposes

ITA 977/MUM/2019[2013-14]Status: DisposedITAT Mumbai28 Nov 2019AY 2013-14

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwal

For Appellant: Shri Yogesh Thar a/wFor Respondent: Shri Anadi Varma
Section 143(3)Section 144C(1)Section 144C(3)Section 263

…case on merit also as the issue is squarely covered in favour of the assessee by various decisions of the Hon'ble Supreme Court as well as different High Courts. In this context, he relied upon the following decisions:– i) Shree Balaji Alloys v/s CIT, [2011] 333 ITR 335 (J&K); ii) CIT v/s Ponni Sugars & Chemicals Ltd, [2008] 306 ITR 392 (SC); and iii) CIT v/s Chaphalkar Brothers, [2018] 400 ITR 279 (SC). 20 ACC Limited 21. Drawing our attention to the industrial policy resolution and exemption/subsidy scheme of the Government of Himachal Pradesh and Uttarakhand and similar scheme issued by the Jammu & Kashmir…