Sree Bhagawathy Textiles Ltd. v. CIT

199 Taxmann 14High Court2011#7308 most cited

What is Sree Bhagawathy Textiles Ltd. v. CIT authority for?

Prior period expenses not debited to the profit and loss account cannot be reduced from the MAT computation. This is because such expenses are not covered by the explanations to Section 115JB and were not accounted for in the profit and loss statement.

15

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2019 to 2025.

Also referred to as

Sree Bhagawathy Textiles Ltd. v. CIT · 199 Taxmann 14 · Section 115JB · MAT computation · prior period expenses · profit and loss appropriation account · profit and loss account

Judgments citing Sree Bhagawathy Textiles Ltd. v. CIT

Sara International Private Limited, New Delhi vs. ACIT Circle 22(1), New Delhi

ITA 533/DEL/2024[2016-17]Status: DisposedITAT Delhi06 Aug 2025AY 2016-17

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahman

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Shri Manish Gupta, Sr. DR
Section 115JSection 143(1)Section 143(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’: NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER and SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA No.533/DEL/2024 (Assessment Year: 2016-17) Sara International Private Limited, A-31, Sara House, Hauz Khas, New Delhi – 110 016. (PAN : AAACS1878B) (APPELLANT) VS. ACIT, Circle 22 (1), New Delhi. (RESPONDENT) ASSESSEE BY : Shri Salil Kapoor, Advocate Ms. Ananya Kapoor, Advocate Shri Sumit Lalchandani, Advocate Ms. Somya Singh, Advocate REVENUE BY : Shri Manish Gupta, Sr. DR Date of Hearing : 16.07.2025 Date of Order : 06.08.2025 ORDER PER S.RIFAUR RAHMA…

The ACIT, Circle-1(1)(1), Vadodara vs. Gujarat Energy Transmission Corpn. Ltd., Vadodara

In the result, both appeals filed by the assessee are allowed for statistical purposes and both the appeals filed by the Revenue are hereby dismissed

ITA 853/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2014-15
For Appellant: Shri Manish J. Shah, Advocate &For Respondent: Shri A.P. Singh, CIT/DR
Section 143(3)Section 271

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “C” BENCH Before: Ms. Annapurna Gupta, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member ITA Nos. 753 & 754/Ahd/2018 Assessment Years 2013-14 & 2014-15 Gujarat Energy The DCIT, Transmission Circle-1(1), Baroda Corporation Ltd. Vs (Respondent) Sardar Patel Vidyut Bhavan, Race Course Circle, Baroda-390007 PAN No:AABCG4029R (Appellant) ITA Nos. 852 & 853/Ahd/2018 Assessment Years 2013-14 & 2014-15 The DCIT, Gujarat Energy Circle-1(1), Baroda Transmission Vs Corporation Ltd. (Appellant) Sardar Patel Vidyut Bhavan, Race Course Circle, Baroda- 390007…

Gujarat Energy Transmission Corpn. Ltd., Vadodara vs. The DCIT, Circle-1(1), Vadodara

In the result, both appeals filed by the assessee are allowed for statistical purposes and both the appeals filed by the Revenue are hereby dismissed

ITA 754/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2014-15
For Appellant: Shri Manish J. Shah, Advocate &For Respondent: Shri A.P. Singh, CIT/DR
Section 143(3)Section 271

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “C” BENCH Before: Ms. Annapurna Gupta, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member ITA Nos. 753 & 754/Ahd/2018 Assessment Years 2013-14 & 2014-15 Gujarat Energy The DCIT, Transmission Circle-1(1), Baroda Corporation Ltd. Vs (Respondent) Sardar Patel Vidyut Bhavan, Race Course Circle, Baroda-390007 PAN No:AABCG4029R (Appellant) ITA Nos. 852 & 853/Ahd/2018 Assessment Years 2013-14 & 2014-15 The DCIT, Gujarat Energy Circle-1(1), Baroda Transmission Vs Corporation Ltd. (Appellant) Sardar Patel Vidyut Bhavan, Race Course Circle, Baroda- 390007…

Gujarat Energy Transmission Corpn. Ltd., Vadodara vs. The DCIT, Circle-1(1), Vadodara

In the result, both appeals filed by the assessee are allowed for statistical purposes and both the appeals filed by the Revenue are hereby dismissed

ITA 753/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2013-14
For Appellant: Shri Manish J. Shah, Advocate &For Respondent: Shri A.P. Singh, CIT/DR
Section 143(3)Section 271

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “C” BENCH Before: Ms. Annapurna Gupta, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member ITA Nos. 753 & 754/Ahd/2018 Assessment Years 2013-14 & 2014-15 Gujarat Energy The DCIT, Transmission Circle-1(1), Baroda Corporation Ltd. Vs (Respondent) Sardar Patel Vidyut Bhavan, Race Course Circle, Baroda-390007 PAN No:AABCG4029R (Appellant) ITA Nos. 852 & 853/Ahd/2018 Assessment Years 2013-14 & 2014-15 The DCIT, Gujarat Energy Circle-1(1), Baroda Transmission Vs Corporation Ltd. (Appellant) Sardar Patel Vidyut Bhavan, Race Course Circle, Baroda- 390007…

The ACIT, Circle-1(1)(1), Vadodara vs. Gujarat Energy Transmission Corpn. Ltd., Vadodara

In the result, both appeals filed by the assessee are allowed for statistical purposes and both the appeals filed by the Revenue are hereby dismissed

ITA 852/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2013-14
For Appellant: Shri Manish J. Shah, Advocate &For Respondent: Shri A.P. Singh, CIT/DR
Section 143(3)Section 271

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “C” BENCH Before: Ms. Annapurna Gupta, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member ITA Nos. 753 & 754/Ahd/2018 Assessment Years 2013-14 & 2014-15 Gujarat Energy The DCIT, Transmission Circle-1(1), Baroda Corporation Ltd. Vs (Respondent) Sardar Patel Vidyut Bhavan, Race Course Circle, Baroda-390007 PAN No:AABCG4029R (Appellant) ITA Nos. 852 & 853/Ahd/2018 Assessment Years 2013-14 & 2014-15 The DCIT, Gujarat Energy Circle-1(1), Baroda Transmission Vs Corporation Ltd. (Appellant) Sardar Patel Vidyut Bhavan, Race Course Circle, Baroda- 390007…

ACIT, Circle- 19(1), New Delhi vs. Oriental Bank of Commerce, Gurgaon

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1812/DEL/2018[2015-16]Status: DisposedITAT Delhi04 Mar 2022AY 2015-16

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…) to (j) of the above explanation to section 115JB. Hence the same cannot be added in the MAT computation. The addition made by the AO is without any basis and hence deserves to be deleted. 85. Further the case of Sree Bhagawathy Textiles Ltd. Vs. CIT (2011) 199 Taxmann 14 (Ker.) relied upon by the AO is on different facts and cannot be applied to the facts of the assessee’s case. In the above case, prior period expenses were not debited to the profit & loss account but shown as debit in the Profit & Loss appropriation account. Therefore the court has held that since it is not debited in the profit & loss accoun…

Oriental Bank of Commerce, Gurgaon vs. ACIT, Circle- 19(1), New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1199/DEL/2018[2015-16]Status: DisposedITAT Delhi04 Mar 2022AY 2015-16

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…) to (j) of the above explanation to section 115JB. Hence the same cannot be added in the MAT computation. The addition made by the AO is without any basis and hence deserves to be deleted. 85. Further the case of Sree Bhagawathy Textiles Ltd. Vs. CIT (2011) 199 Taxmann 14 (Ker.) relied upon by the AO is on different facts and cannot be applied to the facts of the assessee’s case. In the above case, prior period expenses were not debited to the profit & loss account but shown as debit in the Profit & Loss appropriation account. Therefore the court has held that since it is not debited in the profit & loss accoun…

ACIT, New Delhi vs. M/S. Oriental Bank of Commerce, Gurgaon

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 2174/DEL/2017[2014-15]Status: DisposedITAT Delhi04 Mar 2022AY 2014-15

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…) to (j) of the above explanation to section 115JB. Hence the same cannot be added in the MAT computation. The addition made by the AO is without any basis and hence deserves to be deleted. 85. Further the case of Sree Bhagawathy Textiles Ltd. Vs. CIT (2011) 199 Taxmann 14 (Ker.) relied upon by the AO is on different facts and cannot be applied to the facts of the assessee’s case. In the above case, prior period expenses were not debited to the profit & loss account but shown as debit in the Profit & Loss appropriation account. Therefore the court has held that since it is not debited in the profit & loss accoun…

ACIT, New Delhi vs. M/S. Oriental Bank of Commerce, Gurgaon

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 2173/DEL/2017[2013-14]Status: DisposedITAT Delhi04 Mar 2022AY 2013-14

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…) to (j) of the above explanation to section 115JB. Hence the same cannot be added in the MAT computation. The addition made by the AO is without any basis and hence deserves to be deleted. 85. Further the case of Sree Bhagawathy Textiles Ltd. Vs. CIT (2011) 199 Taxmann 14 (Ker.) relied upon by the AO is on different facts and cannot be applied to the facts of the assessee’s case. In the above case, prior period expenses were not debited to the profit & loss account but shown as debit in the Profit & Loss appropriation account. Therefore the court has held that since it is not debited in the profit & loss accoun…

Oriental Bank of Commerce, Gurgaon vs. DCIT, New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1583/DEL/2017[2014-15]Status: DisposedITAT Delhi04 Mar 2022AY 2014-15

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…) to (j) of the above explanation to section 115JB. Hence the same cannot be added in the MAT computation. The addition made by the AO is without any basis and hence deserves to be deleted. 85. Further the case of Sree Bhagawathy Textiles Ltd. Vs. CIT (2011) 199 Taxmann 14 (Ker.) relied upon by the AO is on different facts and cannot be applied to the facts of the assessee’s case. In the above case, prior period expenses were not debited to the profit & loss account but shown as debit in the Profit & Loss appropriation account. Therefore the court has held that since it is not debited in the profit & loss accoun…

Oriental Bank of Commerce, Gurgaon vs. DCIT, New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1582/DEL/2017[2013-14]Status: DisposedITAT Delhi04 Mar 2022AY 2013-14

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…) to (j) of the above explanation to section 115JB. Hence the same cannot be added in the MAT computation. The addition made by the AO is without any basis and hence deserves to be deleted. 85. Further the case of Sree Bhagawathy Textiles Ltd. Vs. CIT (2011) 199 Taxmann 14 (Ker.) relied upon by the AO is on different facts and cannot be applied to the facts of the assessee’s case. In the above case, prior period expenses were not debited to the profit & loss account but shown as debit in the Profit & Loss appropriation account. Therefore the court has held that since it is not debited in the profit & loss accoun…

Oriental Bank of Commerce, Gurgaon vs. Addl. CIT, New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1581/DEL/2017[2012-13]Status: DisposedITAT Delhi04 Mar 2022AY 2012-13

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…) to (j) of the above explanation to section 115JB. Hence the same cannot be added in the MAT computation. The addition made by the AO is without any basis and hence deserves to be deleted. 85. Further the case of Sree Bhagawathy Textiles Ltd. Vs. CIT (2011) 199 Taxmann 14 (Ker.) relied upon by the AO is on different facts and cannot be applied to the facts of the assessee’s case. In the above case, prior period expenses were not debited to the profit & loss account but shown as debit in the Profit & Loss appropriation account. Therefore the court has held that since it is not debited in the profit & loss accoun…

The DCIT, Circle-1(1)(1), Vadodara vs. M/S. Gujarat Alkalies & Chemicals Ltd., Vadodara

In the result the appeal filed by the Revenue is dismissed

ITA 1589/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad16 Oct 2019AY 2012-13

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri Sulabh Padshah, A.RFor Respondent: Shri O. P. Sharma, CIT-D.R
Section 115JSection 143(3)Section 80Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER I.T.A. No.1455/Ahd/2016 (Assessment Year : 2012-13) Gujarat Alkalies And Chemicals Vs. The DCIT, Ltd., Near IPCL Complex, P.O. Circle – 1(1)(1), Petrochemicals, at Ranoli Dist. Baroda – 390 007. Baroda – 391 346. And I.T.A. No.1589/Ahd/2016 (Assessment Year : 2012-13) The DCIT, Vs. Gujarat Alkalies And Circle – 1(1)(1), Chemicals Ltd., Vadodara – 390 007. Near IPCL Complex, P.O. Petrochemicals, at Ranoli Dist. Baroda – 391 346. [PAN No. AAACG 8896 M] (Appellant) .. (Respo…

Gujarat Alkalies and Chemicals Ltd., Baroda vs. The Dy. Commissioner of Income Tax, Circle-1(1)(1), Baroda

In the result the appeal filed by the Revenue is dismissed

ITA 1455/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad16 Oct 2019AY 2012-13

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri Sulabh Padshah, A.RFor Respondent: Shri O. P. Sharma, CIT-D.R
Section 115JSection 143(3)Section 80Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER I.T.A. No.1455/Ahd/2016 (Assessment Year : 2012-13) Gujarat Alkalies And Chemicals Vs. The DCIT, Ltd., Near IPCL Complex, P.O. Circle – 1(1)(1), Petrochemicals, at Ranoli Dist. Baroda – 390 007. Baroda – 391 346. And I.T.A. No.1589/Ahd/2016 (Assessment Year : 2012-13) The DCIT, Vs. Gujarat Alkalies And Circle – 1(1)(1), Chemicals Ltd., Vadodara – 390 007. Near IPCL Complex, P.O. Petrochemicals, at Ranoli Dist. Baroda – 391 346. [PAN No. AAACG 8896 M] (Appellant) .. (Respo…

Gujarat Alkalies and Chemicals Ltd., Baroda vs. The Dy.CIT, Circle-1(1), Baroda

In the result appeal of the Revenue is dismissed

ITA 688/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad25 Feb 2019AY 2011-12

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No.688/Ahd/2015 "नधा"रण वष"/Asstt. Year: 2011-2012 Gujarat Alkalies & Chemicals Ltd., D.C.I.T., Near Ipcl Complex, Circle-1(1), Vs. Baroda-390007. P.O Petrochemicals, At Ranoli, Dist. Baroda-391346. Pan: Aaacg8896M आयकर अपील सं./Ita No.937/Ahd/2015 "नधा"रण वष"/Asstt. Year: 2011-2012 D.C.I.T, Gujarat Alkalies & Chemicals Ltd., Circle-1(1), Near Ipcl Complex, Vs. Baroda-390007. P.O Petrochemicals, At Ranoli, Dist. Baroda-391346. Pan: Aaacg8896M

Section 115JSection 143(3)Section 14ASection 234BSection 80I

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’D’ ’BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And MS MADHUMITA ROY, JUDICIAL MEMBER आयकर अपील सं./ITA No.688/AHD/2015 "नधा"रण वष"/Asstt. Year: 2011-2012 Gujarat Alkalies and Chemicals Ltd., D.C.I.T., Near IPCL Complex, Circle-1(1), Vs. Baroda-390007. P.O Petrochemicals, at Ranoli, Dist. Baroda-391346. PAN: AAACG8896M आयकर अपील सं./ITA No.937/AHD/2015 "नधा"रण वष"/Asstt. Year: 2011-2012 D.C.I.T, Gujarat Alkalies and Chemicals Ltd., Circle-1(1), Near IPCL Complex, Vs. Baroda-390007. P.O Petrochemicals, at Ranoli, Dist. Ba…

Sree Bhagawathy Textiles Ltd. v. CIT (199 Taxmann 14) — Cited in 15 Judgments | BharatTax