Slocum Investment (P) Ltd. v. DCIT

104 ITD 427Income Tax Appellate Tribunal2007#5130 most cited

What is Slocum Investment (P) Ltd. v. DCIT authority for?

The nature of gain arising from the transfer of shares or securities depends on the assessee's intention at the time of acquisition.

23

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Also referred to as

Slocum Investment (P) Ltd. v. DCIT · 104 ITD 427 · 100 TTJ 1132 · intention of assessee · acquisition of shares · transfer of securities · capital asset · capital gains · nature of gain

Also reported as

100 TTJ 1132

Sections most often in play

Section 112(1)Section 115JAASection 133(6)Section 133ASection 139(1)Section 143(2)Section 143(3)Section 147

Issues it is cited on

transactional net margin methodkelvinatordate of transfermost appropriate methodsection 36(1)(iii)disallowance under section 14asection 92casection 92carm's length pricetransfer pricing adjustmentsection 92associated enterprise

Judgments citing Slocum Investment (P) Ltd. v. DCIT

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

ITA 901/DEL/2017[2012-13]Status: DisposedITAT Delhi08 Oct 2025AY 2012-13

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department
Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

…6 ITR 239 (Mad.)  CIT v. Trish Investments Ltd..: 305 ITR 434 (Mad).  CIT v. N.S.S. Investment Pvt. Ltd.: 277 ITR 149 (Mad)  Arjun Kapur vs. DCIT: 70 ITD 161 (Del.)  Slocum Investment (P) Ltd. v. DCIT: 106 ITD 1 (Del.)  Gomti Credits (P) Limited v. DCIT: 100 TTJ 1132 (Del).  Ashish Chaudhary v. ITO : ITA No. 5227/Del./2014 (Del. ITAT) In the light of the aforesaid legal position, it is clear that the nature of gain arising on transfer of shares/ securities depends upon the intention of the assessee at the time of acquisition of the share/ securities. In the present case, the appellant is, undisputedly, enga…

DCIT, NEW DELHI vs. M/S. MARUTI SUZUKI INDIA LTD., NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

ITA 1024/DEL/2016[2011-12]Status: DisposedITAT Delhi08 Oct 2025AY 2011-12

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department
Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

…6 ITR 239 (Mad.)  CIT v. Trish Investments Ltd..: 305 ITR 434 (Mad).  CIT v. N.S.S. Investment Pvt. Ltd.: 277 ITR 149 (Mad)  Arjun Kapur vs. DCIT: 70 ITD 161 (Del.)  Slocum Investment (P) Ltd. v. DCIT: 106 ITD 1 (Del.)  Gomti Credits (P) Limited v. DCIT: 100 TTJ 1132 (Del).  Ashish Chaudhary v. ITO : ITA No. 5227/Del./2014 (Del. ITAT) In the light of the aforesaid legal position, it is clear that the nature of gain arising on transfer of shares/ securities depends upon the intention of the assessee at the time of acquisition of the share/ securities. In the present case, the appellant is, undisputedly, enga…

HERO MOTOCORP LTD (AS SUCCESSOR OF HERO INVESTMENT P.LTD),NEW DELHI vs. DCIT, CIRCLE 11(1), NEW DELHI

The appeal is allowed

ITA 1053/DEL/2023[2011-12]Status: DisposedITAT Delhi24 Jul 2024AY 2011-12

Bench: Shri G.S. Pannu & Shri Anubhav Sharmaassessment Year: 2011-12

Section 143(3)

…sing from sale thereof was held as resulting in income taxable under the head 'capital gains': Accra Investments (P) Ltd. v. ITO: 359 ITR 116 (Bom.) CIT v. Nadatur Holdings and Investment (P) Ltd.: 210 Taxman 597 (Kar.) Gomti Credits (P) Limited vs. DCIT: 100 TTJ 1132 (Del.) Pace Industries Ltd.: ITA 1106 / Del / 2004 (Del Trib.) Everplus Securities and Finance Ltd. vs DCIT: 101 ITD 151 (Del.) Slocum Investment (P) Ltd. vs. DCIT: 106 ITD 1 (Del.) 36. Specific reliance, in this regard, was placed on the decision of the Hon’ble Gujarat High Court in the case of Elscope P. Ltd vs. CIT: 313 ITR 293 (Guj), wher…

ACIT CIRCLE 5(1)(1), MUMBAI vs. M/S ESSAR SHIPPING LIMITED, MUMBAI

In the result, appeal filed by the learned AO is dismissed

ITA 2951/MUM/2022[2015-2016]Status: DisposedITAT Mumbai09 Jan 2024AY 2015-2016

Bench: Shri Prashant Maharishi, Am & Shri Narender Kumar Choudhry, Jm M/S Essar Shipping Limited Acit, Circle 5(1)(1) Essar House, 11, R.No.568, Aaykar Bhavan, Vs. Kk Marg, Mahalaxmi, M.K. Road, Mumbai-400 020 Mumbai-400 034 (Appellant) (Respondent) Pan No. Aacce3707D

For Appellant: Shri Rishav Patawari, ARFor Respondent: Shri Manoj Sinha, CIT DR
Section 115VSection 143Section 144CSection 28Section 43Section 92Section 92CSection 92F

…f assessee by the Assessing Officer in the scrutiny assessment order passed u/s 143(3) of the Act. In order to support this proposition, reliance was placed on the following decisions; a) CIT v Sridev Enterprises [192 ITR 165 (Kar)] b) Escorts Ltd. v. ACIT [104 ITD 427 (Del)] c) Maiwa Cotton Spg. Mills v. ACIT [89 lTD 65 (TM)(Chd)] d) ITO v. J.M.P. Enterprises [101 lTD 324 (SMC)(Asr)] e) Virendra R. Gandhi v. ACIT (Tax Appeal No. 20 of 2004 with Tax Appeal No. 124 of 2005) dated 27.11.2014( (Gujarat High Court) 38. Since we have already directed the A.O. to allow deduction of interest expenditure U/s 36(1)(iii)…

MICROSEC RESOURCES PRIVATE LIMITED,KOLKATA vs. DCIT,C.C-2(3),KOL, KOLKATA

In the result, appeal of the assessee is allowed

ITA 424/KOL/2023[2014-15]Status: DisposedITAT Kolkata21 Jun 2023AY 2014-15

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2014-15

For Appellant: Shri Giridhar Dhelia, FCAFor Respondent: Shri Sanjiv Kumar Paul, Addl. CIT
Section 143(3)Section 40A(2)

…es are used by the company for the purposes of its business, This would, therefore, be expenditure." 6 Microsec Resources Pvt. Ltd., AY: 2014-15 Further, the above issue has also been considered by the ITAT, Delhi Bench in the case of Escorts Ltd. -vs- ACIT [104 ITD 427], In the said case, the assessee raised funds by way of issuance of secured premium notes (hereinafter to be referred to in short SPNs) which are redeemable at a premium partly at the end of 4th, 5th, 6th and 7th year. It was held that, the liability to pay the premium amount over and above the face value of SPNs on redemption is a liability incu…

JETAIR PVT. LTD.,NEW DELHI vs. ADDL. CIT, SPECIAL RANGE-5, NEW DELHI

ITA 3487/DEL/2018[2014-15]Status: DisposedITAT Delhi21 Feb 2023AY 2014-15

Bench: Sh. G.S.Pannu, Hon’Ble & Sh. Anubhav Sharmaita No.3487 /Del/2018 (Assessment Year : 2014-15) Jetair Pvt. Ltd. Vs. Acit 13, Community Centre, Special Range-5 Yusuf Sarai, New Delhi New Delhi- 110016 Pan : Aaacj0121C (Appellant) (Respondent)

Section 142(1)Section 143(2)Section 143(3)Section 250(6)

…ntend that if no interest disallowance is made for loans given in earlier years, the same cannot be made in subsequent years. “1) CIT v Sridev Enterprises [192 ITR 165 (Kar)] 2) CIT v. Industrial Cables (India) Ltd [209 CTR 167 (P&H)] 3) Escorts Ltd. v. ACIT [104 ITD 427 (Del)] 4) Malwa Cotton Spg. Mills v. ACIT [89 ITD 65 (TM)(Chd)] 5) ITO v. J.M.P. Enterprises [101 ITD 324 (SMC)(Asr)] 6) Sushee Hi Tech Construction Pvt. Ltd. v. DCIT (33 taxman.com 236) (Hyd) 7) Virendra R. Gandhi v. ACIT (Tax Appeal No. 20 of 2004 with Tax Appeal No. 124 of 2005) dated 27.11.2014 (Gujarat High Court)” 10. Ld. Sr. DR took the B…

GUARDIAN NUTRITION & HEALTH SUPPLEMENTS PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE- 10(2), NEW DELHI

Appeal of the assessee is dismissed

ITA 6738/DEL/2017[2012-13]Status: DisposedITAT Delhi21 Nov 2022AY 2012-13

Bench: Shri Narendra Kumar Billaiya & Shri Kul Bharat[Assessment Year: 2012-13

Section 143(3)Section 36(1)(iii)Section 40

…n as argued by the AR of appellant, the basis of disallowance may be restricted to the loans for the instant year only, if the interest on earlier loans have already been allowed in previous years. In CIT vs Sri Dev: 192 ITR 165(Kar) (Also Escorts Ltd. [2007] 104 ITD 427 (DELHI) ; Punjab Wool Combers Ltd. [2004] 1 SOT 114 (CHD.), G.R. Agencies 1 SOT 635(Luck))), it was held that if interest is allowed as being for business purpose, a different stand could not be taken by the Department in 9 subsequent year on the same loan. In that case, there was certain opening balance of advances made to partners during earlie…

PRAKASH S PATIL,PANVEL vs. ASST CIT PANVEL CIRCLE, PANVEL

In the result, assessee’s appeal allowed for statistical purpose

ITA 7285/MUM/2019[2011-12]Status: DisposedITAT Mumbai06 Sept 2021AY 2011-12
Section 32Section 37(1)

…THE INCOME TAX APPELLATE TRIBUNAL “C” Bench, Mumbai Shri Shamim Yahya (AM) & Shri Ravish Sood (JM) I.T.A. No.7285/Mum/2019 (Assessment Year 2011-12) Prakash S Patil Vs. ACIT C/o Life Line Hospital Panvel Circle Sai Arcade, Opp S.T Stand Aaykar Bhawan, Panvel-410 206 Khanda Colony New Panvel-410 206 PAN : ABUPP8615P (Appellant) (Respondent) None Assessee by Department by Ms. Shreekala Pardeshi Date of Hearing 31.08.2021 Date of Pronouncement 06 .09.2021 O R D E R Per Shamim Yahya (AM) :- This appeal by the Assessee is directed against the order of learned CIT(A)-2 dated 01.10.2019 and pertains to Assessme…

ESSAR SHIPPING LIMITED ,MUMBAI vs. ACIT-5(1)(2), MUMBAI

In the result, ground No.10 is allowed for statistical purposes

ITA 7371/MUM/2017[2013-14]Status: DisposedITAT Mumbai06 Mar 2020AY 2013-14

Bench: Shri R.C.Sharma, Am & Shri Vikas Awasthy, Jm Essar Shipping Ltd., Vs. A.C.I.T.-5(1)(2), 11, K.K. Marg, Mahalaxmi, Mumbai. Mumbai-400034. Pan/Gir No.Aacce 3707 D (Appellant) .. (Respondent)

Section 115VSection 143(3)Section 144C(13)Section 144C(5)

…assessee by the Assessing Officer in the scrutiny assessment order passed u/s 143(3) of the Act. In order to support this proposition, reliance was placed on the following decisions; a) CIT v Sridev Enterprises [192 ITR 165 (Kar)] b) Escorts Ltd. v. ACIT [104 ITD 427 (Del)] c) Maiwa Cotton Spg. Mills v. ACIT [89 lTD 65 (TM)(Chd)] d) ITO v. J.M.P. Enterprises [101 lTD 324 (SMC)(Asr)] e) Virendra R. Gandhi v. ACIT (Tax Appeal No. 20 of 2004 with Tax Appeal No. 124 of 2005) dated 27.11.2014( (Gujarat High Court) 38. Since we have already directed the A.O. to allow deduction of interest expenditure U/s 36(1)(…

IMPERIAL CONSULTANTS & SECURITIES LTD. (FORMERLY KNOWN AS OMPERIAL CONSULTANTS & SECURITIES PVT. LTD.),MUMBAI vs. DCIT -6 (3)(1), MUMBAI

In the result, appeal of the Revenue is dismissed

ITA 3529/MUM/2018[2012-13]Status: DisposedITAT Mumbai17 Dec 2019AY 2012-13

Bench: Shri A.D. Jain & Shri Rajesh Kumarm/S. Imperial Consultants & Dcit, Circle - 6(3)(1) Securities Ltd. Room No. 506, 5Th Floor (Formerly Imperial Consultants & Aayakar Bhavan, M.K. Road Securities P. Ltd) Vs. Mumbai 400020 Manickam Complex, Gr. Floor 1/3, General Paters Roadchennai 600002 Pan – Aaacg4413G Appellant Respondent Dcit, Circle - 6(3)(1) M/S. Imperial Consultants & Room No. 506, 5Th Floor Securities Ltd. Vs. Aayakar Bhavan, M.K. Road Essar House, 11, Kk Marg Mumbai 400020 Mahalaxmi, Mumbai 400034 Pan – Aaacg4413G Appellant Respondent

For Appellant: Shri Vijay MehtaFor Respondent: Shri Awungshi Gimson
Section 143(3)Section 144Section 36(1)(iii)Section 56Section 57

…n of the Hon'ble Gujarat High Court in the case of Virendra R. Gandhi vs. ACIT Tax Appeal No. 20 of 2004& Anr. Dated 27.11.2014. The ld AR also relied on the following decisions: (i) CIT vs. Sridev Enterprises [192 ITR 165 (Karn)] (ii) Escorts Ltd. vs. ACIT [104 ITD 427 (Del)] (iii) Malwa Cotton Spg. Mills vs. ACIT [89 ITD 65 (TM) (Chd)] (iv) ITO vs. J.M.P. Enterprises [101 ITD 324 (SMC) (Asr)] (v) Virendra R. Gandhi vs. ACIT [T.A No. 20 of 2004 with T.A. No. 124 of 2005 dated 27.11.2014 (Guj) (vi) ITO vs. Abhinand Investment Ltd. [ITA No. 982/Kol/2016 dated 07.02.2018] (vii) Gulita Securities Ltd. vs. DCIT [ITA…

LAHMEYER HOLDING GMBH,GERMANY vs. DDIT, NEW DELHI

Appeal is dismissed

ITA 5799/DEL/2010[2002-03]Status: DisposedITAT Delhi09 Oct 2019AY 2002-03

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2001-02] M/S Lahmeyer International Acit, Gmbh, Circle-2(1), C/O- Lahmeyer International International Taxation, (India) Private Limited, Drum Shaped Building, Intec House, 37, Institutional New Delhi Area, Sector-44, Gurgaon- 122002 Pan-Aaacl6802E Assessee Revenue [Assessment Year: 2002-03] Lahmeyear Holding Gmbh Dcit, (Earlier Known As Lahmeyer Circle-3(2), International Gmbh), International Taxation, Friedberger Strasse 173 6118 New Delhi Bad Vilbel, Deutschland Germany Pan-Aaacl6802E Assessee Revenue [Assessment Year: 2003-04] M/S Lahmeyer International Acit, Gmbh, Circle-2(1), C/O- Lahmeyer International International Taxation, (India) Private Limited, Drum Shaped Building, Intec House, 37, Institutional New Delhi Area, Sector-44, Gurgaon-

Section 115ASection 144CSection 147Section 234ASection 234BSection 234CSection 271(1)(c)Section 44D

…her projects, therefore, Revenue cannot be allowed to take up this plea. The Ld. AR relied upon the following decision: • ACIT vs. DHL Operations BV 13 SOT 581 @ 595-596 (MUM) (SB). • Slocum Investment (P) Ltd. vs. DCIT 106 ITD 1 (Del) • Escorts ltd vs. ACIT 104 ITD 427 (Del) - para 67-68 @ 486- 489 • Dy. CIT v. Capital Gars Pvt. Ltd. (2007) 295 ITR (AT) 224 @ 236-237 (Del) • Assam Company (India) Ltd. v. CIT (2002) 256 ITR 423 (Gau) • Wilon Industries v. CIT (2003) 259 ITR 318 (Mad) • Meghji girdhar (HUF) v. CIT (2012) 344 ITR 364 (MP) 5.6 The Ld. AR without prejudice to the earlier submissions submitted that…

M/S LAHMEYER INTERNATIONAL GMBH,GURGAON vs. ADIT, NEW DELHI

Appeal is dismissed

ITA 2125/DEL/2009[2005-06]Status: DisposedITAT Delhi09 Oct 2019AY 2005-06

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2001-02] M/S Lahmeyer International Acit, Gmbh, Circle-2(1), C/O- Lahmeyer International International Taxation, (India) Private Limited, Drum Shaped Building, Intec House, 37, Institutional New Delhi Area, Sector-44, Gurgaon- 122002 Pan-Aaacl6802E Assessee Revenue [Assessment Year: 2002-03] Lahmeyear Holding Gmbh Dcit, (Earlier Known As Lahmeyer Circle-3(2), International Gmbh), International Taxation, Friedberger Strasse 173 6118 New Delhi Bad Vilbel, Deutschland Germany Pan-Aaacl6802E Assessee Revenue [Assessment Year: 2003-04] M/S Lahmeyer International Acit, Gmbh, Circle-2(1), C/O- Lahmeyer International International Taxation, (India) Private Limited, Drum Shaped Building, Intec House, 37, Institutional New Delhi Area, Sector-44, Gurgaon-

Section 115ASection 144CSection 147Section 234ASection 234BSection 234CSection 271(1)(c)Section 44D

…her projects, therefore, Revenue cannot be allowed to take up this plea. The Ld. AR relied upon the following decision: • ACIT vs. DHL Operations BV 13 SOT 581 @ 595-596 (MUM) (SB). • Slocum Investment (P) Ltd. vs. DCIT 106 ITD 1 (Del) • Escorts ltd vs. ACIT 104 ITD 427 (Del) - para 67-68 @ 486- 489 • Dy. CIT v. Capital Gars Pvt. Ltd. (2007) 295 ITR (AT) 224 @ 236-237 (Del) • Assam Company (India) Ltd. v. CIT (2002) 256 ITR 423 (Gau) • Wilon Industries v. CIT (2003) 259 ITR 318 (Mad) • Meghji girdhar (HUF) v. CIT (2012) 344 ITR 364 (MP) 5.6 The Ld. AR without prejudice to the earlier submissions submitted that…

M/S LAHMEYER INTERNATIONAL GMBH,GURGAON vs. DDIT, NEW DELHI

Appeal is dismissed

ITA 2124/DEL/2009[2004-05]Status: DisposedITAT Delhi09 Oct 2019AY 2004-05

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2001-02] M/S Lahmeyer International Acit, Gmbh, Circle-2(1), C/O- Lahmeyer International International Taxation, (India) Private Limited, Drum Shaped Building, Intec House, 37, Institutional New Delhi Area, Sector-44, Gurgaon- 122002 Pan-Aaacl6802E Assessee Revenue [Assessment Year: 2002-03] Lahmeyear Holding Gmbh Dcit, (Earlier Known As Lahmeyer Circle-3(2), International Gmbh), International Taxation, Friedberger Strasse 173 6118 New Delhi Bad Vilbel, Deutschland Germany Pan-Aaacl6802E Assessee Revenue [Assessment Year: 2003-04] M/S Lahmeyer International Acit, Gmbh, Circle-2(1), C/O- Lahmeyer International International Taxation, (India) Private Limited, Drum Shaped Building, Intec House, 37, Institutional New Delhi Area, Sector-44, Gurgaon-

Section 115ASection 144CSection 147Section 234ASection 234BSection 234CSection 271(1)(c)Section 44D

…her projects, therefore, Revenue cannot be allowed to take up this plea. The Ld. AR relied upon the following decision: • ACIT vs. DHL Operations BV 13 SOT 581 @ 595-596 (MUM) (SB). • Slocum Investment (P) Ltd. vs. DCIT 106 ITD 1 (Del) • Escorts ltd vs. ACIT 104 ITD 427 (Del) - para 67-68 @ 486- 489 • Dy. CIT v. Capital Gars Pvt. Ltd. (2007) 295 ITR (AT) 224 @ 236-237 (Del) • Assam Company (India) Ltd. v. CIT (2002) 256 ITR 423 (Gau) • Wilon Industries v. CIT (2003) 259 ITR 318 (Mad) • Meghji girdhar (HUF) v. CIT (2012) 344 ITR 364 (MP) 5.6 The Ld. AR without prejudice to the earlier submissions submitted that…

LEHMEYER INTERNATIONAL GMBH vs. DCIT CIRCLE 1 (2),

Appeal is dismissed

ITA 1881/DEL/2007[2003-2004]Status: DisposedITAT Delhi09 Oct 2019AY 2003-2004

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2001-02] M/S Lahmeyer International Acit, Gmbh, Circle-2(1), C/O- Lahmeyer International International Taxation, (India) Private Limited, Drum Shaped Building, Intec House, 37, Institutional New Delhi Area, Sector-44, Gurgaon- 122002 Pan-Aaacl6802E Assessee Revenue [Assessment Year: 2002-03] Lahmeyear Holding Gmbh Dcit, (Earlier Known As Lahmeyer Circle-3(2), International Gmbh), International Taxation, Friedberger Strasse 173 6118 New Delhi Bad Vilbel, Deutschland Germany Pan-Aaacl6802E Assessee Revenue [Assessment Year: 2003-04] M/S Lahmeyer International Acit, Gmbh, Circle-2(1), C/O- Lahmeyer International International Taxation, (India) Private Limited, Drum Shaped Building, Intec House, 37, Institutional New Delhi Area, Sector-44, Gurgaon-

Section 115ASection 144CSection 147Section 234ASection 234BSection 234CSection 271(1)(c)Section 44D

…her projects, therefore, Revenue cannot be allowed to take up this plea. The Ld. AR relied upon the following decision: • ACIT vs. DHL Operations BV 13 SOT 581 @ 595-596 (MUM) (SB). • Slocum Investment (P) Ltd. vs. DCIT 106 ITD 1 (Del) • Escorts ltd vs. ACIT 104 ITD 427 (Del) - para 67-68 @ 486- 489 • Dy. CIT v. Capital Gars Pvt. Ltd. (2007) 295 ITR (AT) 224 @ 236-237 (Del) • Assam Company (India) Ltd. v. CIT (2002) 256 ITR 423 (Gau) • Wilon Industries v. CIT (2003) 259 ITR 318 (Mad) • Meghji girdhar (HUF) v. CIT (2012) 344 ITR 364 (MP) 5.6 The Ld. AR without prejudice to the earlier submissions submitted that…

LAHMEYER INTERNATIONAL GMBH vs. ADIT, CIRCLE-2(!),,

Appeal is dismissed

ITA 4960/DEL/2004[2001-2002]Status: DisposedITAT Delhi09 Oct 2019AY 2001-2002

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2001-02] M/S Lahmeyer International Acit, Gmbh, Circle-2(1), C/O- Lahmeyer International International Taxation, (India) Private Limited, Drum Shaped Building, Intec House, 37, Institutional New Delhi Area, Sector-44, Gurgaon- 122002 Pan-Aaacl6802E Assessee Revenue [Assessment Year: 2002-03] Lahmeyear Holding Gmbh Dcit, (Earlier Known As Lahmeyer Circle-3(2), International Gmbh), International Taxation, Friedberger Strasse 173 6118 New Delhi Bad Vilbel, Deutschland Germany Pan-Aaacl6802E Assessee Revenue [Assessment Year: 2003-04] M/S Lahmeyer International Acit, Gmbh, Circle-2(1), C/O- Lahmeyer International International Taxation, (India) Private Limited, Drum Shaped Building, Intec House, 37, Institutional New Delhi Area, Sector-44, Gurgaon-

Section 115ASection 144CSection 147Section 234ASection 234BSection 234CSection 271(1)(c)Section 44D

…her projects, therefore, Revenue cannot be allowed to take up this plea. The Ld. AR relied upon the following decision: • ACIT vs. DHL Operations BV 13 SOT 581 @ 595-596 (MUM) (SB). • Slocum Investment (P) Ltd. vs. DCIT 106 ITD 1 (Del) • Escorts ltd vs. ACIT 104 ITD 427 (Del) - para 67-68 @ 486- 489 • Dy. CIT v. Capital Gars Pvt. Ltd. (2007) 295 ITR (AT) 224 @ 236-237 (Del) • Assam Company (India) Ltd. v. CIT (2002) 256 ITR 423 (Gau) • Wilon Industries v. CIT (2003) 259 ITR 318 (Mad) • Meghji girdhar (HUF) v. CIT (2012) 344 ITR 364 (MP) 5.6 The Ld. AR without prejudice to the earlier submissions submitted that…

INTERNATIONAL TOBACCO CO. LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX 2(2)(1), MUMBAI

In the result, appeal of the assessee is partly allowed for statistical purpose

ITA 4902/MUM/2017[2012-13]Status: DisposedITAT Mumbai30 Jan 2019AY 2012-13

Bench: Shri C.N. Prasad, Hon'Ble & Shri G. Manjunatha, Hon'Blem/S. International Tobacco Co. Ltd., V. A.C.I.T, Circle – 2(2)(1) C/O Godfrey Phillips India Ltd., R.No. 545, 5Th Floor, V.K.K. Menon Marg (Sahar Road), Aayakar Bhavan, M.K. Road, Chakala, Andheri (East) Mumbai-400 020 Mumbai – 400 099 Pan: Aaaci 3492 H (Appellant) (Respondent) Assessee By : Shri Manish V. Shah & Shri Ms. Vidhi Doshi Department By : Shri Abi Rama Kartikeyan

For Appellant: Shri Manish V. Shah &For Respondent: Shri Abi Rama Kartikeyan

…portion, wiring, plumbing, false ceiling, roofing, electrical wiring etc. Ld Counsel relied on the decision of the Tribunal in the case of Amway India Enterprise vs. DOT (27 SOT 344) as well as Delhi Bench of the Tribunal in the case of Escorts Ltd. Vs. AOT (104 ITD 427) (Del). As per the Ld Counsel, the Delhi Bench of the ITAT decision in the case of DOT vs. P.U.R. Ployurethene Products Pvt Ltd. (64 TD 507) (Del) supports the claim of the 6 M/s. International Tobacco Co. Ltd., assessee. Further, Ld Counsel mentioned that in the assessee's own case, comparable issues came up for the assessment year 2004-2005 and…

M/S TECHNO BLAST (P) LTD.,NEW DELHI vs. DCIT, NOIDA

In the result the appeal by the assessee is allowed in part

ITA 1203/DEL/2011[2005-06]Status: DisposedITAT Delhi15 Oct 2018AY 2005-06

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

Section 142(1)Section 142(2)

…ng Officer cannot judge the decision of the assessee and decide otherwise. The Ld. AR relied upon the decision of the Hon’ble Punjab & Haryana High Court in case of CIT Vs. Bharat Medical Store (2009) 308 ITR 373 (P &H) as well as Escorts Ltd. Vs. ACIT (2007) 104 ITD 427 (Delhi) and Bulk Explosive Ltd. vs. DCIT in ITA No. 1216/Del/2011 order dated 28th June, 2013 (Delhi). The Ld. AR further submitted that the issue is covered by the decision of the Tribunal in case of Bulk Explosives which is a sister concern of the assessee. 6. The Ld. DR relied upon the assessment order and the order of the CIT(A). 7. We have…

BAYER CROPSCIENCE LTD,MUMBAI vs. ADDL CIT RG 10(3), MUMBAI

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

ITA 7619/MUM/2013[2008-09]Status: DisposedITAT Mumbai07 Jun 2018AY 2008-09

Bench: Shri Saktijit Dey & Shri Rajesh Kumarassessment Year: 2008-09

For Appellant: Shri Paras S. Savla, A.R. &For Respondent: Ms. Pooja Swarup, D.R
Section 143(2)Section 14ASection 40Section 40A(2)

…ations of BOPP films and to develop new varieties of BOPP films already manufactured by it, not being related to setting up of a new unit or expansion of the existing unit, is allowable as revenue expenditure. 2.36.3 Even in the case of Escorts Ltd. vs ACIT (104 ITD 427), the Delhi Tribunal has held that if new projects undertaken by the assessee were in the existing line of assessee's business, then the expenditure incurred on expansion and diversification of the existing business is allowable as a deduction u/s 37(1) of the Act. This view has been re-iterated by the Punjab & Haryana High Court in the case of C…

BAYER CROP SCIENCE LTD,MUMBAI vs. ADDL CIT 10(3), MUMBAI

In the result, appeal filed by the assessee is treated as partly allowed

ITA 7818/MUM/2011[2007-08]Status: DisposedITAT Mumbai16 Feb 2018AY 2007-08

Bench: Shri B.R. Baskaran (Am) & Shri Pawan Singh (Jm)

Section 143(3)Section 144C(13)Section 14A

…the Act. Before learned DRP, assessee relied on following case laws in order to contend that the product trial expenses are revenue in nature.  ACIT Vs. Medicamen Biotech (1SOT 347) (Del)  DCIT Vs. Max India Ltd. (105 TTJ 1002)(Asr)  Escorts Ltd. Vs. ACIT (104 ITD 427)(Del)  CIT Vs. Kerala State Industrial Development Corporation Ltd. (182 ITR 62) The assessee also contended that it has incurred expenses towards making payment to approved scientific research associations for conducting test of the product manufactured by the assessee. Accordingly, the assessee claimed that the payments so made to the approve…

HERO MOTOCORP LIMITED,NEW DELHI vs. JCIT, NEW DELHI

In the result appeal of the assessee in ITA No

ITA 1545/DEL/2015[2010-11]Status: DisposedITAT Delhi24 Oct 2016AY 2010-11

Bench: Sh. I. C. Sudhir & Shri Prashant Maharishihero Motocorp Limited, Jcit, 34, Basant Lok, Vasant Range-1, New Delhi Vs. Vihar, New Delhi Pan: Aaach0812J (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community Vs. New Delhi Centre, Basant Lok, Vasant Vihar, New Delhi-110057 (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. NC Sawain, CIT DR
Section 143Section 143(3)Section 144CSection 92C

…d 914/Del/2016 (AY 2011-12) Page 200 of 484 xi. CIT v Naishadh V. Vachharajani ITA No. 1042 of 2011 (Bom.) affirming the decision of Mumbai Tribunal in xii. Slocum Investment (P) Ltd. vs. DCIT: 106 ITD 1 (Del. Trib.) xiii. Gomti Credits (P) Limited vs. DCIT: 100 TTJ 1132 (Del). l) Reliance is also placed on the following decisions, wherein it has been consistently held that frequency or volume of transactions does not simpliciter characterize the income from sale of shares as business income: i. Holck Larsen v. CIT: 85 ITR 285 (SC) ii. J. M. Share & Stock Brokers Limited V. JCIT: ITA No. 2801/ Mum/ 00 iii. ACIT…

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Slocum Investment (P) Ltd. v. DCIT (104 ITD 427) — Cited in 23 Judgments | BharatTax