Sipca India Pvt. Ltd. v. DCIT

186 TTJ 289Income Tax Appellate Tribunal#11214 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2022 to 2025.

Sections most often in play

Section 10BSection 115JBSection 143(3)Section 14ASection 234BSection 234CSection 234DSection 43B

Issues it is cited on

perquisite valuesection 108convertible foreign exchangeactual payment basisinterest u/s 234cinterest under section 234csection 80hhcsection 80hhsection 234dsection 10bsection 234csection 80ib

Judgments citing Sipca India Pvt. Ltd. v. DCIT

Jindal Saw Ltd., New Delhi vs. ACIT, Circle-13(2), New Delhi

In the result, assessee’s appeal in ITA No

ITA 504/DEL/2022[2014-15]Status: DisposedITAT Delhi04 Jun 2025AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal[Assessment Year : 2011-12] Jindal Saw Ltd. Vs Dcit, 28, Najafgarh Road, Circle-13(2) New Delhi-110015. (Earlier Addl.Cit Range-4), Pan-Aabcs7280C C.R.Building, I.P.Estate, New Delhi-110002. Appellant Respondent [Assessment Year : 2011-12] Dcit, Vs Jindal Saw Ltd. Circle-13(2), (Formerly Known As M/S. Saw Pipes Room No.316A, Ltd.), 28, Najafgarh Road, C.R.Building, New Delhi-110015. New Delhi Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2014-15] Jindal Saw Ltd., Vs Acit, 28, Najafgarh Road, Shivaji Marg, Circle-13(2), New Delhi-110015. New Delhi. Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2015-16] Jindal Saw Ltd. Vs Acit, 28, Najafgarh Road, Circle-13(2) P.O.Ramesh Nagar, C.R.Building, I.P.Estate, New Delhi-110015. New Delhi-110002. Pan-Aabcs7280C Appellant Respondent

Section 143(3)Section 234BSection 43B

…s and Industries Ltd: ITA 337/Del/2015 (AY 2011-12) * DCIT v. Sutlej Textiles and Industries Ltd.: 44 CCH 287 (Kol.ITAT) * DCIT vs. BSL Ltd.: 183 ITD 675 (Kol Trib.) * DCIT vs. JK Cement Ltd.: ITA 499/Lkw/2010 (Lucknow Trib.) * Sipca India (P.) Ltd. vs. DCIT: 186 TTJ 289 (Kol Trib.) * DCIT vs. Gloster Jute Mills Ltd. 33 ITR (Trib) 322 (Kol. ITAT) * Suvidha Spiners Pvt. Ltd. vs. DCIT: ITA Nos. 65 & 66/Jodh/2018 (Jodhpur Tribunal) * Crystal Crop Protection Pvt. Ltd. vs. DCIT: ITA No. 1539 of 2016 (Del. ITAT) 15. In light of the aforesaid, applying the ‘purpose test’ laid down by the Hon’ble Supreme Court in various…

DCIT Circle-13(2), New Delhi vs. Jindal Saw Ltd., New Delhi

In the result, assessee’s appeal in ITA No

ITA 4760/DEL/2019[2015-16]Status: DisposedITAT Delhi04 Jun 2025AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal[Assessment Year : 2011-12] Jindal Saw Ltd. Vs Dcit, 28, Najafgarh Road, Circle-13(2) New Delhi-110015. (Earlier Addl.Cit Range-4), Pan-Aabcs7280C C.R.Building, I.P.Estate, New Delhi-110002. Appellant Respondent [Assessment Year : 2011-12] Dcit, Vs Jindal Saw Ltd. Circle-13(2), (Formerly Known As M/S. Saw Pipes Room No.316A, Ltd.), 28, Najafgarh Road, C.R.Building, New Delhi-110015. New Delhi Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2014-15] Jindal Saw Ltd., Vs Acit, 28, Najafgarh Road, Shivaji Marg, Circle-13(2), New Delhi-110015. New Delhi. Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2015-16] Jindal Saw Ltd. Vs Acit, 28, Najafgarh Road, Circle-13(2) P.O.Ramesh Nagar, C.R.Building, I.P.Estate, New Delhi-110015. New Delhi-110002. Pan-Aabcs7280C Appellant Respondent

Section 143(3)Section 234BSection 43B

…s and Industries Ltd: ITA 337/Del/2015 (AY 2011-12) * DCIT v. Sutlej Textiles and Industries Ltd.: 44 CCH 287 (Kol.ITAT) * DCIT vs. BSL Ltd.: 183 ITD 675 (Kol Trib.) * DCIT vs. JK Cement Ltd.: ITA 499/Lkw/2010 (Lucknow Trib.) * Sipca India (P.) Ltd. vs. DCIT: 186 TTJ 289 (Kol Trib.) * DCIT vs. Gloster Jute Mills Ltd. 33 ITR (Trib) 322 (Kol. ITAT) * Suvidha Spiners Pvt. Ltd. vs. DCIT: ITA Nos. 65 & 66/Jodh/2018 (Jodhpur Tribunal) * Crystal Crop Protection Pvt. Ltd. vs. DCIT: ITA No. 1539 of 2016 (Del. ITAT) 15. In light of the aforesaid, applying the ‘purpose test’ laid down by the Hon’ble Supreme Court in various…

Jindal Saw Ltd., New Delhi vs. ACIT Circle-13(2), New Delhi

In the result, assessee’s appeal in ITA No

ITA 4693/DEL/2019[2015-16]Status: DisposedITAT Delhi04 Jun 2025AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal[Assessment Year : 2011-12] Jindal Saw Ltd. Vs Dcit, 28, Najafgarh Road, Circle-13(2) New Delhi-110015. (Earlier Addl.Cit Range-4), Pan-Aabcs7280C C.R.Building, I.P.Estate, New Delhi-110002. Appellant Respondent [Assessment Year : 2011-12] Dcit, Vs Jindal Saw Ltd. Circle-13(2), (Formerly Known As M/S. Saw Pipes Room No.316A, Ltd.), 28, Najafgarh Road, C.R.Building, New Delhi-110015. New Delhi Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2014-15] Jindal Saw Ltd., Vs Acit, 28, Najafgarh Road, Shivaji Marg, Circle-13(2), New Delhi-110015. New Delhi. Pan-Aabcs7280C Appellant Respondent [Assessment Year : 2015-16] Jindal Saw Ltd. Vs Acit, 28, Najafgarh Road, Circle-13(2) P.O.Ramesh Nagar, C.R.Building, I.P.Estate, New Delhi-110015. New Delhi-110002. Pan-Aabcs7280C Appellant Respondent

Section 143(3)Section 234BSection 43B

…s and Industries Ltd: ITA 337/Del/2015 (AY 2011-12) * DCIT v. Sutlej Textiles and Industries Ltd.: 44 CCH 287 (Kol.ITAT) * DCIT vs. BSL Ltd.: 183 ITD 675 (Kol Trib.) * DCIT vs. JK Cement Ltd.: ITA 499/Lkw/2010 (Lucknow Trib.) * Sipca India (P.) Ltd. vs. DCIT: 186 TTJ 289 (Kol Trib.) * DCIT vs. Gloster Jute Mills Ltd. 33 ITR (Trib) 322 (Kol. ITAT) * Suvidha Spiners Pvt. Ltd. vs. DCIT: ITA Nos. 65 & 66/Jodh/2018 (Jodhpur Tribunal) * Crystal Crop Protection Pvt. Ltd. vs. DCIT: ITA No. 1539 of 2016 (Del. ITAT) 15. In light of the aforesaid, applying the ‘purpose test’ laid down by the Hon’ble Supreme Court in various…

Torrent Pharmaceuticals Ltd., Ahmedabad vs. ACIT, Circle-4(1)(2), Ahmedabad

In the result appeal of the Revenue is hereby partly allowed

ITA 1172/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad26 Feb 2024AY 2015-16

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri Vartik Choksi, With Shri DhrunalBhatt, ARsFor Respondent: Shri Ritesh Parmar, CIT-DR
Section 143(3)Section 14ASection 35Section 43BSection 80

…***** 12. The Hon’ble Kolkata ITAT in case of DCIT -vs.- M/S Century Plyboards (I) Ltd. (ITA No. 2149/Kol/2019 And C.O. No. 22/Kol/2020 In ITA No.2149/Kol/2019) relied upon finding of its coordinate bench in the case of Sicpa India (P) Ltd. - vs.- DCIT T20171 186 TTJ 289 (Kol.) (Refer Page 123-150 of the Case Law Paper book) wherein it has been held that subsidies cannot be regarded as income even for the purpose of book profits u/s.115JB of the Act though credited in the profit and loss account and have to be excluded for arriving at the book profits u/s. 115JB of the Act. 13. Coordinate Bench Delhi in case of…

Greenlam Industries Limited, Tinsukia vs. Assistant Commissioner of Income Tax, Circle-Tinsukia, Tinsukia

In the result, appeal filed by the assessee is allowed as per the terms indicated above

ITA 402/GTY/2019[2015-16]Status: DisposedITAT Guwahati19 Dec 2022AY 2015-16

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

Section 115JSection 143(2)Section 143(3)Section 244ASection 25Section 250Section 251(1)(a)Section 31(3)(a)

…-15.” 12. The Hon’ble Kolkata ITAT in case of DCIT -vs.- M/S Century Plyboards (I) Ltd. (ITA No. 2149/Kol/2019 And C.O. No. 22/Kol/2020 In ITA No.2149/Kol/2019) relied upon finding of its coordinate bench in the case of Sicpa India (P) Ltd. - vs.- DCIT T20171 186 TTJ 289 (Kol.) (Refer Page 123-150 of the Case Law Paper book) wherein it has been held that subsidies cannot be regarded as income even for the purpose of book profits u/s.115JB of the Act though credited in the profit and loss account and have to be excluded for arriving at the book profits u/s. 115JB of the Act. 13. Coordinate Bench Delhi in case of U…

Narayan Industires, New Delhi vs. ACIT, Circle- 60(1), New Delhi

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

ITA 6153/DEL/2017[2014-15]Status: DisposedITAT Delhi30 Jun 2022AY 2014-15

Bench: Sh. Aakash Deep Jaindr. B. R. R. Kumar

For Appellant: Sh. Rohit Jain, Adv. &For Respondent: Sh. N. K. Bansal, Sr. DR
Section 253

…and Industries Ltd: ITA 337/Del/2015 (AY 2011-12)  DCIT v. Sutlej Textiles and Industries Ltd.: 44 CCH 287 (Kol. ITAT)  DCIT vs. BSL Ltd.: 183 ITD 675 (Kol Trib.)  DCIT vs. JK Cement Ltd.: ITA 499/Lkw/2010 (Lucknow Trib.)  Sipca India (P.) Ltd. vs. DCIT: 186 TTJ 289 (Kol Trib.)  DCIT vs. Gloster Jute Mills Ltd. 33 ITR (Trib) 322 (Kol. ITAT)  Suvidha Spiners Pvt. Ltd. vs. DCIT: ITA Nos. 65 & 66/Jodh/2018 (Jodhpur Tribunal)  Crystal Crop Protection Pvt. Ltd. vs. DCIT: ITA No. 1539 of 2016 (Del. ITAT) 15. In light of the aforesaid, applying the ‘purpose test’ laid down by the Hon’ble Supreme Court in variou…

ACIT, Circle - Tinsukia, Tinsukia vs. M/S. Greenply Industries Ltd., Tinsukia

In the result, the appeal of the assessee for A

ITA 359/GTY/2019[2014-15]Status: DisposedITAT Guwahati21 Jun 2022AY 2014-15

Bench: Shri A.T. Varkey & Shri Manish Borad

Section 115JSection 143(2)Section 80ISection 92C

…15.” 12. The Hon’ble Kolkata ITAT in case of DCIT -vs.- M/S Century Plyboards (I) Ltd. (ITA No. 2149/Kol/2019 And C.O. No. 22/Kol/2020 In ITA No.2149/Kol/2019) relied upon finding of its coordinate bench in the case of Sicpa India (P) Ltd. - vs.- DCIT T20171 186 TTJ 289 (Kol.) (Refer Page 123-150 of the Case Law Paper book) wherein it has been held that subsidies cannot be regarded as income even for the purpose of book profits u/s.115JB of the Act though credited in the profit and loss account and have to be excluded for arriving at the book profits u/s. 115JB of the Act. 13. Coordinate Bench Delhi in case of…

Greenply Industries Limited, Tinsukia vs. Assistant Commissioner of Income Tax, Circle-Tinsukia, Tinsukia

In the result, the appeal of the assessee for A

ITA 232/GTY/2019[2014-15]Status: DisposedITAT Guwahati21 Jun 2022AY 2014-15

Bench: Shri A.T. Varkey & Shri Manish Borad

Section 115JSection 143(2)Section 80ISection 92C

…15.” 12. The Hon’ble Kolkata ITAT in case of DCIT -vs.- M/S Century Plyboards (I) Ltd. (ITA No. 2149/Kol/2019 And C.O. No. 22/Kol/2020 In ITA No.2149/Kol/2019) relied upon finding of its coordinate bench in the case of Sicpa India (P) Ltd. - vs.- DCIT T20171 186 TTJ 289 (Kol.) (Refer Page 123-150 of the Case Law Paper book) wherein it has been held that subsidies cannot be regarded as income even for the purpose of book profits u/s.115JB of the Act though credited in the profit and loss account and have to be excluded for arriving at the book profits u/s. 115JB of the Act. 13. Coordinate Bench Delhi in case of…

Jsw Steel Limited, Mumbai vs. Addlcit, Bangalore

858/M/2011

ITA 858/BANG/2011[2007-08]Status: DisposedITAT Mumbai16 Mar 2022AY 2007-08

Bench: Shri Om Prakash Kant () & Shri Amarjit Singh () Assessment Year: 2007-08 Jsw Steel Limited, The Addl. Cit, Range 11, Jindal Mansion, 5A, Vs. Bangalore. Dr. G. Deshmukh Marg, Mumbai-400026. Pan No. Aaacj 4323 N Appellant Respondent Assessment Year: 2007-08 Dc. Cc.46, M/S Jsw Steel Ltd., R.No. 659, 6Th Floor, Aayakar Vs. Jindal Mansion, 5-A, Dr. G Bhavan, M.K. Road, Deshmukh Marg, Mumbai-20. Mumbai-400026. Pan No. Aaacj 4323 N Appellant Respondent Assessment Year: 2007-08 M/S Jsw Steel Ltd., Dcit, Central Circle 46, Jsw Centre, Bandra Kurla Vs. 6Th Flr., Aayakar Bhavan, M.K. Complex, Road, Mumbai-400051. Mumbai-400020. Pan No. Aaacj 4323 N Appellant Respondent

For Appellant: Mr. Danesh Bafna &For Respondent: Mr. Achal Sharma, CIT-DR
Section 14ASection 37(1)

…t Ltd, had considered an identical issue and held that incentives granted to the assesee is capital receipt and hence, cannot be part of book profit computed u/s 115JB of the Act. Similarly, the ITAT Kolkata Bench, in the case of Sipca India Pvt. Ltd. Vs DCIT 186 TTJ 289 had considered an identical issue and held that when, subsidy in question is not in the nature of income, it cannot be regarded as income even for the purpose of book profit u/s 115JB of the Act, though credited in the profit and loss account and have to be excluded for arriving at the book profit u/s 115JB of the Act. 49. Insofar as, case laws…

Sipca India Pvt. Ltd. v. DCIT (186 TTJ 289) — Cited in 9 Judgments | BharatTax