Sugar Factory & Oils Mills (P) Ltd. v. CIT

Jt. CIT (Ods) - CC -1(4), Mumbai vs. Ultratech Cement Ltd., Mumbai

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

…ness while leaving the fixed capital untouched, the expenditure would be on the revenue account. 66. The Ld.AR of the assessee had argued that the same principle was laid down in a decision in the case of L.H Sugar Factory and Oil Mills (P) Ltd v. CIT [1980] 125 ITR 293/4 Taxman 5 (SC) wherein the assessee had made a contribution for meeting the cost of construction of roads in the area around its sugar factory under a sugarcane development scheme. The Supreme Court held as follows: "Now it is clear on the facts of the present case that by spending the amount of Rs 50,000, the assessee did not acquire any asset…

Ultra Tech Cement Limited, Mumbai vs. ACIT- CC 1(4), Mumbai

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

…ness while leaving the fixed capital untouched, the expenditure would be on the revenue account. 66. The Ld.AR of the assessee had argued that the same principle was laid down in a decision in the case of L.H Sugar Factory and Oil Mills (P) Ltd v. CIT [1980] 125 ITR 293/4 Taxman 5 (SC) wherein the assessee had made a contribution for meeting the cost of construction of roads in the area around its sugar factory under a sugarcane development scheme. The Supreme Court held as follows: "Now it is clear on the facts of the present case that by spending the amount of Rs 50,000, the assessee did not acquire any asset…

DCIT Cir 1(4), Mumbai vs. M/S. Ultratech Cement Ltd, Mumbai

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

…ness while leaving the fixed capital untouched, the expenditure would be on the revenue account. 66. The Ld.AR of the assessee had argued that the same principle was laid down in a decision in the case of L.H Sugar Factory and Oil Mills (P) Ltd v. CIT [1980] 125 ITR 293/4 Taxman 5 (SC) wherein the assessee had made a contribution for meeting the cost of construction of roads in the area around its sugar factory under a sugarcane development scheme. The Supreme Court held as follows: "Now it is clear on the facts of the present case that by spending the amount of Rs 50,000, the assessee did not acquire any asset…

M/S. Ultratech Cement Ltd, Mumbai vs. DCIT Cent Cir-1(4), Mumbai

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Sandeep Singh Karhail, Hon’Bledeputy Commissioner Of Income Tax V. M/S. Ultratech Cement Ltd., Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan, Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) Jt. Commissioner Of Income Tax (Osd) V. M/S. Ultratech Cement Ltd. Central Circle- 1(4) Ahura Centre, B- Wing Room No. 902, 9Th Floor 2Nd Floor, Mahakali Caves Road Pratishtha Bhavan Andheri (E), Mumbai- 400093 Old C.G.O. Bldg, (Annexe) M.K. Road, Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent) & M/S. Ultratech Cement Limited V. Dcit, Central Circle- 1(4) [Acit, Cc] Room. No 902, 9Th Floor Ahura Centre, B-Wing, 2Nd Floor Pratishtha Bhavan Mahakali Caves Road Old C.G.O. Bldg, (Annexe) Andheri (E), Mumbai- 400093 Maharishi Karve Road Mumbai- 400020 Pan: Aaacl6442L (Appellant) (Respondent)

…ness while leaving the fixed capital untouched, the expenditure would be on the revenue account. 66. The Ld.AR of the assessee had argued that the same principle was laid down in a decision in the case of L.H Sugar Factory and Oil Mills (P) Ltd v. CIT [1980] 125 ITR 293/4 Taxman 5 (SC) wherein the assessee had made a contribution for meeting the cost of construction of roads in the area around its sugar factory under a sugarcane development scheme. The Supreme Court held as follows: "Now it is clear on the facts of the present case that by spending the amount of Rs 50,000, the assessee did not acquire any asset…

ACIT Cir. 12(3)(2), Mumbai vs. Manohar Capital Markets Ltd., Mumbai

In the result, appeal of the Revenue is allowed for statistical purpose

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary ()

…of the assessee to justify commission expenses, the Assessing officer disallowed the said expenses of commission claimed by the assessee relying on the decision of the Hon’ble Supreme Court in the case of L.H. Sugar Factory & Oil Mills (P.) Ltd v. CIT [1980] 125 ITR 293 (SC). The Assessing Officer also made addition for increase in share capital and share application money received during the year under consideration, in absence of documentary evidence in support of creditworthiness and genuineness of the transaction filed by the assessee except bank statement of few subscribers of the shares. The Assessing Offi…

ACIT Cir -4(2) (1), Thane vs. M/S. Mukti Gold Pvt. Ltd, Mumbai

Appeal is partly allowed for statistical purpose and the assessee’s C

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI B.M. BIYANI, ACCOUNTANT MEMBER I.T.A. No. 1804/Mum/2022 (A.Y. 2017-18) ACIT, Cir-4(2)(2), Mumbai M/s Mukti Gold Pvt. Ltd. Room No. 642, A-103,104,105, 6th Floor, Glitz mall, Aaykar Bhavan, Vs. Kalbadevi Road, M.K. Road, Mumbai-400020 99, Vithalwadi, Mumbai-400002 PAN AAHCM9068J (Appellant) (Respondent) C.O. No. 116/Mum/2022 (A.Y. 2017-18) M/s Mukti Gold Pvt. Ltd. Vs. ACIT, Cir-4(2)(2), Mumbai A-103,104,105, Room No. 642, Glitz mall, 6th Floor, Kalbadevi Road, Aaykar Bhavan, 99, Vithalwadi, M.K. Road, Mumbai-400002 Mu…

M/S. Standard Chartered Bank, Mumbai vs. The ACIT (It)1(3), Mumbai

In the result, appeal filed by the assessee is allowed and appeal filed by the Revenue is dismissed

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blestandard Chartered Bank V. Acit – Range-1(3) Taxation Department, 23-25 Scindia House, Ballard Estate M.G. Road, 3Rd Floor N.M. Marg, Mumbai - 400038 Fort, Mumbai - 400001 Pan: Aabcs4681D (Appellant) (Respondent) Adit (It)– 2(3) V. Standard Chartered Bank Room No. 120, 1St Floor Taxation Department, 23-25 Scindia House, Ballard Estate M.G. Road, 3Rd Floor N.M. Marg, Mumbai - 400038 Fort, Mumbai - 400001 Pan: Aabcs4681D (Appellant) (Respondent) Shri P.J. Pardiwala & Assessee Represented By : Shri Fenil Bhatt Shri Soumendu Kumar Dash Department Represented By :

…was incurred for the purpose of facilitating the running of the assessee's motor vehicles and other means employed for transportation of sugarcane to its factories. In the case of L.H. Sugar Factory and Oils Mills (P) Ltd. v. Commissioner of Income-tax, U.P. (125 ITR 293), the assesee was carrying on the business of manufacture and sale of sugar. It has its factory in U.P. The assessee paid a contribution towards meeting the cost of construction of roads in the area around its factory under a 14 ITA NO. 803 & 850/MUM/2009 (A.Y. 1999-2000) Standard Chartered Bank sugarcane development scheme. The question was whet…

The ACIT RG 1(1), Mumbai vs. M/S. Associated Cement Co., Mumbai

Appeal of the Revenue is partly allowed while the appeal of the Assessee is dismissed

…d. (1988) 172 ITR 257 (SC). The facts are not distinguishable at this stage also. Since the matter of controversy has duly been covered and decided in favour of the assessee in the assessee‟s own case and L.H. Sugar Factory and oil Mills (P) Ltd. V CIT (1980) 125 ITR 293 (SC), therefore, in the said circumstances, we are of the view that the CIT(A) has decided the matter of controversy judiciously and correctly which is not liable to be interfere with at this appellate stage. Accordingly, this issue is being decided in favour of the assessee against the revenue.” 11.6. In the present case as a result of the expe…

M/S. Acc Ltd ( Formely Known As the Associated Cememtn Companies Ltd), Mumbai vs. The Addl CIT RG 1(1), Mumbai

Appeal of the Revenue is partly allowed while the appeal of the Assessee is dismissed

…d. (1988) 172 ITR 257 (SC). The facts are not distinguishable at this stage also. Since the matter of controversy has duly been covered and decided in favour of the assessee in the assessee‟s own case and L.H. Sugar Factory and oil Mills (P) Ltd. V CIT (1980) 125 ITR 293 (SC), therefore, in the said circumstances, we are of the view that the CIT(A) has decided the matter of controversy judiciously and correctly which is not liable to be interfere with at this appellate stage. Accordingly, this issue is being decided in favour of the assessee against the revenue.” 11.6. In the present case as a result of the expe…