Southern Petro Chemical Industries v. DCIT

3 SOT 157Income Tax Appellate Tribunal2005#3523 most cited

What is Southern Petro Chemical Industries v. DCIT authority for?

Assessing authorities can estimate expenditure under Section 14A read with Rule 8D when the assessee claims no expenditure was incurred for earning dividend income.

34

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2026.

Also referred to as

Southern Petro Chemical Industries v. DCIT · section 14A · Rule 8D · dividend income · expenditure estimation · assessing officer powers · ITAT Chennai

Sections most often in play

Section 115JBSection 14ASection 92CA(3)Section 37(1)Section 250Section 80GSection 143(3)Section 37

Issues it is cited on

section 2(7)section 120(4)(b)section 120(1)section 2(7a)section 14a(3)section 163section 115jasection 14a(1)section 120section 43astrategic investmentsection 156

Judgments citing Southern Petro Chemical Industries v. DCIT

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

ITA 1697/KOL/2019[2014-15]Status: DisposedITAT Kolkata20 Jan 2026AY 2014-15

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 115JSection 250

…s the expenditure required to be incurred by the assessee company for carrying out the investments and earning dividends income also finds force from the decision rendered by ITAT, Chennai Bench in the case of Southern Petro Chemical Industries vs DCIT (2005) 3 SOT 157 dated 20th October, 2004 relevant part of which is reproduced as under 5.5. Since the assessee had claimed that no expenditure was incurred, the assessing authorities were correct to estimate the incurring of such expenditure_u/s_14A read with Rule 8D. It is pertinent to refer to the observations made by ITAT Chennai Bench in the case of Lakshmi Ri…

M/S COAL INDIA LTD.,KOLKATA vs. DCIT, CIR-5(1), , KOLKATA

ITA 1407/KOL/2019[2014-15]Status: DisposedITAT Kolkata20 Jan 2026AY 2014-15

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 1Section 115JSection 250

…s the expenditure required to be incurred by the assessee company for carrying out the investments and earning dividends income also finds force from the decision rendered by ITAT, Chennai Bench in the case of Southern Petro Chemical Industries vs DCIT (2005) 3 SOT 157 dated 20th October, 2004 relevant part of which is reproduced as under 5.5. Since the assessee had claimed that no expenditure was incurred, the assessing authorities were correct to estimate the incurring of such expenditure_u/s_14A read with Rule 8D. It is pertinent to refer to the observations made by ITAT Chennai Bench in the case of Lakshmi Ri…

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

ITA 623/KOL/2018[2012-13]Status: DisposedITAT Kolkata20 Jan 2026AY 2012-13
Section 115JSection 250

…s the expenditure required to be incurred by the assessee company for carrying out the investments and earning dividends income also finds force from the decision rendered by ITAT, Chennai Bench in the case of Southern Petro Chemical Industries vs DCIT (2005) 3 SOT 157 dated 20th October, 2004 relevant part of which is reproduced as under 5.5. Since the assessee had claimed that no expenditure was incurred, the assessing authorities were correct to estimate the incurring of such expenditure_u/s_14A read with Rule 8D. It is pertinent to refer to the observations made by ITAT Chennai Bench in the case of Lakshmi Ri…

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

ITA 622/KOL/2018[2011-12]Status: DisposedITAT Kolkata20 Jan 2026AY 2011-12

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 115JSection 250

…s the expenditure required to be incurred by the assessee company for carrying out the investments and earning dividends income also finds force from the decision rendered by ITAT, Chennai Bench in the case of Southern Petro Chemical Industries vs DCIT (2005) 3 SOT 157 dated 20th October, 2004 relevant part of which is reproduced as under 5.5. Since the assessee had claimed that no expenditure was incurred, the assessing authorities were correct to estimate the incurring of such expenditure_u/s_14A read with Rule 8D. It is pertinent to refer to the observations made by ITAT Chennai Bench in the case of Lakshmi Ri…

COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

ITA 467/KOL/2018[2012-13]Status: DisposedITAT Kolkata20 Jan 2026AY 2012-13

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 115JSection 250

…s the expenditure required to be incurred by the assessee company for carrying out the investments and earning dividends income also finds force from the decision rendered by ITAT, Chennai Bench in the case of Southern Petro Chemical Industries vs DCIT (2005) 3 SOT 157 dated 20th October, 2004 relevant part of which is reproduced as under 5.5. Since the assessee had claimed that no expenditure was incurred, the assessing authorities were correct to estimate the incurring of such expenditure_u/s_14A read with Rule 8D. It is pertinent to refer to the observations made by ITAT Chennai Bench in the case of Lakshmi Ri…

ASSOCIATED TECHNO PLASTIC P. LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee is dismissed

ITA 1890/DEL/2014[2008-09]Status: DisposedITAT Delhi22 May 2024AY 2008-09

Bench: Shri Kul Bharat & Shri Brajesh Kumar Singh[Assessment Year : 2008-09] Associated Techno Plastic P.Ltd., Vs Dcit, Elegence Level-2, Mathura Road, Circle-2(1), Jasola, New Delhi-110025. New Delhi. Pan-Aaaca2525K Appellant Respondent Appellant By None Respondent By Shri Kanv Bali, Sr. Dr Date Of Hearing 08.05.2024 Date Of Pronouncement 22.05.2024

Section 143(1)Section 144Section 14ASection 234BSection 40Section 68

…ion 14A of the Act as also the decision of the Hon'ble Supreme Court in the case of CIT Vs. United General Trust Ltd. (supra) and many other following decisions of the Coordinate Benches of the Hon'ble ITAT viz. (a) Southern Petro Chemicals Industries (2005), 93 TTJ 161 (b) Harish Krishnakanta Bhatt (2004), 91 ITD 311 (c) S.G. Investments and Industries Ltd. (2004), 89 ITD 44 (d) Everplus Securities & Finances Ltd. (2006), 285 ITR (AT) 112, It is held that all expenses connected with the exempt income have to be necessarily disallowed regardless of whether they are direct or indirect, fixed or variable, and manag…

NUCLEAR POWER CORPORATION OF INDIA LTD,MUMBAI vs. ADDL CIT RG 3(2), MUMBAI

ITA 3553/MUM/2011[2006-07]Status: DisposedITAT Mumbai29 Nov 2023AY 2006-07

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…relationship between the expenditure and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has been held that investment decisions a been held that investment decisions are very strategic decisions in re very strategic decisions in which top management is involved and, therefore, proportionate whic…

NUCLEAR POWER CORPORATION OF INDIA LTD,MUMBAI vs. ADDL CIT RG 3(2), MUMBAI

ITA 2452/MUM/2011[2005-06]Status: DisposedITAT Mumbai29 Nov 2023AY 2005-06

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…relationship between the expenditure and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has been held that investment decisions a been held that investment decisions are very strategic decisions in re very strategic decisions in which top management is involved and, therefore, proportionate whic…

NUCLEAR POWER CORPORATION OF INDIA LTD,,MUMBAI vs. ADDL. C.I.T,RANGE 3(2), MUMBAI

ITA 3867/MUM/2008[2001-2002]Status: DisposedITAT Mumbai29 Nov 2023AY 2001-2002

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…relationship between the expenditure and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has been held that investment decisions a been held that investment decisions are very strategic decisions in re very strategic decisions in which top management is involved and, therefore, proportionate whic…

NUCLEAR POWER CORPORATION OF INDIA LTD,,MUMBAI vs. ADDL. C.I.T,RANGE 3(2), MUMBAI

ITA 4745/MUM/2007[2004-2005]Status: DisposedITAT Mumbai29 Nov 2023AY 2004-2005

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…relationship between the expenditure and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has been held that investment decisions a been held that investment decisions are very strategic decisions in re very strategic decisions in which top management is involved and, therefore, proportionate whic…

NUCLEAR POWER CORPORATION OF INDIA LTD,,MUMBAI vs. ADDL. C.I.T,RANGE 3(2), MUMBAI

ITA 4744/MUM/2007[2003-2004]Status: DisposedITAT Mumbai29 Nov 2023AY 2003-2004

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…relationship between the expenditure and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has been held that investment decisions a been held that investment decisions are very strategic decisions in re very strategic decisions in which top management is involved and, therefore, proportionate whic…

NUCLEAR POWER CORPORATION OF INDIA LTD,,MUMBAI vs. ADDL. C.I.T,RANGE 3(2), MUMBAI

ITA 4743/MUM/2007[2002-2003]Status: DisposedITAT Mumbai29 Nov 2023AY 2002-2003

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…relationship between the expenditure and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has been held that investment decisions a been held that investment decisions are very strategic decisions in re very strategic decisions in which top management is involved and, therefore, proportionate whic…

THE DY CIT 3(2), MUMBAI vs. M/S. NUCLEAR POWER CORPORATION OF INDIA LTD, MUMBAI

ITA 4603/MUM/2007[2004-2005]Status: DisposedITAT Mumbai29 Nov 2023AY 2004-2005

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…relationship between the expenditure and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has been held that investment decisions a been held that investment decisions are very strategic decisions in re very strategic decisions in which top management is involved and, therefore, proportionate whic…

NUCLEAR POWER CORPORATION OF INDIA LTD.,MUMBAI vs. ACIT RANGE 3(2), MUMBAI

ITA 4413/MUM/2004[2000-01]Status: DisposedITAT Mumbai29 Nov 2023AY 2000-01

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…relationship between the expenditure and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has been held that investment decisions a been held that investment decisions are very strategic decisions in re very strategic decisions in which top management is involved and, therefore, proportionate whic…

NUCLEAR POWER CORPORATION OF INDIA LTD.,MUMBAI vs. ADDL.COMMR.OF INCOME TAX, SPL. RG.32, MUMBAI

ITA 202/MUM/2004[98-99]Status: DisposedITAT Mumbai29 Nov 2023

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…relationship between the expenditure and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has been held that investment decisions a been held that investment decisions are very strategic decisions in re very strategic decisions in which top management is involved and, therefore, proportionate whic…

NUCLEAR POWER CORPORATION OF INDIA LTD.,MUMBAI vs. ACIT(OSD) RANGE 3(2), MUMBAI

ITA 114/MUM/2004[1999-2000]Status: DisposedITAT Mumbai29 Nov 2023AY 1999-2000

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2002-03 & Assessment Year: 2003-04 & Assessment Year: 2004-05 & Assessment Year: 2005-06 Nuclear Power Corporation Of Acit, Range-3(2), India Ltd., Aayakar Bhavan, M.K. Road, Vikram Sarabhai Bhavan, Vs. Mumbai-400021. Central Avenue, Anushakti Nagar, Mumbai-400094. Pan No. Aaacn 3154 F Appellant Respondent

…relationship between the expenditure and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro and the exempt income. Further, in the case of Southern Petro Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has Chemical Industries Vs. DCIT (2005) 3 SOT 157 (Chennai), it has been held that investment decisions a been held that investment decisions are very strategic decisions in re very strategic decisions in which top management is involved and, therefore, proportionate whic…

JAKHAU SALT COMPANY P LTD.,CHENNAI vs. DCIT, CORPORATE CIRCLE-1(1), CHENNAI

In the result, appeal filed by the assessee is allowed

ITA 367/CHNY/2022[2017-18]Status: DisposedITAT Chennai24 Feb 2023AY 2017-18

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha.G, Hon’Bleआयकरअपीलसं./Ita No.367/Chny/2022 िनधा"रणवष"/Assessment Year: 2017-18 V. M/S. Jakhau Salt Co. P. Ltd., The Dy. Commissioner – No.2, North Crescent Road, Of Income Tax, T. Nagar, Chennai-600 017. Corporate Circle-1(1), Chennai. [Pan:Aaacw 0867 G] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Mr.S.Sridhar, Adv. ""यथ" क" ओर से /Respondent By : Mr.S. Senthil Kumaran, Cit : सुनवाईक"तारीख/Date Of Hearing 09.01.2023 : घोषणाक"तारीख /Date Of Pronouncement 24.02.2023

For Appellant: Mr.S.Sridhar, AdvFor Respondent: Mr.S. Senthil Kumaran, CIT
Section 143(3)Section 263

…elevant submissions, had completed assessment and accepted write off of loss on account of investment in subsidiary. 12. Further, the Chennai tribunal, in Appellant's own case for AY 2000-01, in its order dated 20.10.2004 in ITA No.2252/Mds/2003 (reported in 93 TTJ 161) has held in Para 18 of their order: 18. Now, coming to the second contention of the assessee, we find considerable force in the argument of the learned counsel for the assessee and the decision of the Hon'ble Madras High Court in the case of Indian Commerce & Industries Co. (P) Ltd. vs. CIT (supra) squarely covers this issue. In that case, as no…

M/S SOUTHERN TPETROCHEMICAL INDUSTRIES CORPRATION LIMITED,CHENNAI vs. ITO, CORPORATE WARD-3(1), CHENNAI

In the result, appeal filed by the assessee is allowed

ITA 232/CHNY/2022[2017-18]Status: DisposedITAT Chennai23 Sept 2022AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकरअपीलसं./Ita No.232/Chny/2022 िनधा"रणवष"/Assessment Year: 2017-18 M/S.Southern Petrochemical V. The Income Tax Officer, Industries Corporation Ltd., Corporate Ward-3(1), 88, Spic House, Mount Road, Chennai. Guindy, Chennai-600 032. [Pan:Aaacs 4668 K] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.R.Vijayaraghavan, Adv. &
Section 115JSection 143Section 263

…vant submissions, had completed assessment and accepted write off of loss on account of investment in subsidiary. 12. Further, the Chennai tribunal, in Appellant's own case for AY 2000- 01, in its order dated 20.10.2004 in ITA No.2252/Mds/2003 (reported in 93 TTJ 161) has held in Para 18 of their order: 18. Now, coming to the second contention of the assessee, we find considerable force in the argument of the learned counsel for the assessee and the decision of the Hon'ble Madras High Court in the case of Indian Commerce & Industries Co. (P) Ltd. vs. CIT (supra) squarely covers this issue. In that case, as no…

DCIT 5(2)(1), MUMBAI vs. JSW POWER TRADING CO. LTD, MUMBAI

In the result, the appeal filed by the revenue is hereby ordered to be dismissed

ITA 518/MUM/2019[2013-14]Status: DisposedITAT Mumbai06 Jul 2020AY 2013-14

Bench: Shri Pramod Kumar, Vp & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.518/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2013-14) Dcit 5(2)(1) बिधम/ Jsw Power Trading Co. Ltd. R. No.525, Aayakar 5A, Jindal Mansion, Vs. Bhawan, M.K. Rd, Mumbai- Dr. G. Deshmukh Marg, Peddar Road, Mumbai- 400020. 400026 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabcj5740L (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Padma Ram Mirdha (Dr) Assessee By: Shri Gaurav Kabra (Ar) सुनवाई की तारीख / Date Of Hearing: 06/02/2020 घोषणा की तारीख /Date Of Pronouncement: 06/07/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 03.10.2018 Passed By The Commissioner Of Income Tax (Appeals) -10, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2013- 14. 2. The Revenue Has Raised The Following Grounds: -

For Appellant: Shri Gaurav Kabra (AR)For Respondent: Shri Padma Ram Mirdha (DR)
Section 115JSection 143(2)Section 14ASection 2

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI PRAMOD KUMAR, VP AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. No.518/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2013-14) DCIT 5(2)(1) बिधम/ JSW Power Trading Co. Ltd. R. No.525, Aayakar 5A, Jindal Mansion, Vs. Bhawan, M.K. Rd, Mumbai- Dr. G. Deshmukh Marg, Peddar Road, Mumbai- 400020. 400026 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AABCJ5740L (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue by: Shri Padma Ram Mirdha (DR) Assessee by: Shri Gaurav Kabra (AR) सुनवाई की तारीख / Date of Hearing: 06/02/2020 घोषणा की तारीख /Date of Pronounce…

THE ACIT,(OSD)CIRCLE-8,, AHMEDABAD vs. TORRENT POWER LTD.,, AHMEDABAD

In the result, the appeal of the Revenue and the Cross-objection of the assessee, both are dismissed

ITA 1668/AHD/2012[2006-07]Status: DisposedITAT Ahmedabad05 Mar 2020AY 2006-07

Bench: Shri Sandeep Gosain & Shri Amarjit Singh

For Appellant: Shri Vartik ChowkshiFor Respondent: Shri Samir Tekriwal, CIT-DR
Section 115JSection 14Section 143(3)Section 14A

…s. 2,56,00,942/- is made and added back to the total income of the assessee. Reliance, in this regard is placed upon the following decisions: 1. ITO Vs. Daga Capital Management Pvt.Ltd, 117 ITD 169 (Mum)(SB) . 2. Southern Petrol Chemical Industries Ws. DCIT, 93 TTJ 161. 3. Godrej & Boyce Mfg.Co.Ltd. V/s. DCIT (ITA No. 626 of 2010)(Mumbai High Court)". 8. On the other hand, Ld.AR appearing on behalf of assessee reiterated the same arguments as were raised by him before the Ld.CIT(A) and the same are contained in paragraph No.3.2 of the order of the Ld.CIT(A) which is reproduced hereunder: “3.2. During the cours…

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Southern Petro Chemical Industries v. DCIT (3 SOT 157) — Cited in 34 Judgments | BharatTax