Suhner Exletroncis (P) Ltd. v. DICT

34 ITD 50Income Tax Appellate Tribunal1990#11524 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2021.

Judgments citing Suhner Exletroncis (P) Ltd. v. DICT

ACIT Corporate Circle 2, Coimbatore vs. Late Shri Naren Rajan, Rep.by L/H Smt. Padmini V.R, Coimbatore

In the result, the appeal filed by the assessee for assessment year 2012-13 is partly allowed and appeal filed by the Revenue for assessment year 2012-13 is dismissed

ITA 1161/CHNY/2018[2012-13]Status: DisposedITAT Chennai09 Aug 2021AY 2012-13

Bench: Shri Mahavir Singh & Shri G. Manjunatha

For Appellant: Shri K.R. Vasudevan, Advocate &For Respondent: Shri G. Srinivasa Rao, CIT
Section 2(22)(e)

…rties the same is allowable as held by the Hon’ble Supreme Court reported in Calcutta co. Ltd. v. CIT (1959) 37 ITR I (SC) and Bharat Earth-Movers v. CIT (2000) 245 ITR 428 (SC) as well as the decision of the Special Bench reported in 35 ITR 18 [(sic)--(1990) 34 ITD 50 (Hyd)(SB) (supra)]and (1992) 43 ITD 527 (Mad) (supra) and as conceded by the Department before the jurisdictional High court in (2003) 130 Taxman 400 (Mad) (supra). iv. The Hon'ble ITAT, Vishakapatnam in the case of ACIT vs. KCP Limited in I.T.A.Nos.449/Viz/2016 and 244/Viz/2018 Assessment Year: 2011-12 and 2012-l3) has held that the liquidated dam…

Padmini Rajan, L/R of Late (Shri) Naren Rajan, Coimbatore vs. DCIT Corporate Circle 2, Coimbatore

In the result, the appeal filed by the assessee for assessment year 2012-13 is partly allowed and appeal filed by the Revenue for assessment year 2012-13 is dismissed

ITA 1002/CHNY/2018[2012-13]Status: DisposedITAT Chennai09 Aug 2021AY 2012-13

Bench: Shri Mahavir Singh & Shri G. Manjunatha

For Appellant: Shri K.R. Vasudevan, Advocate &For Respondent: Shri G. Srinivasa Rao, CIT
Section 2(22)(e)

…rties the same is allowable as held by the Hon’ble Supreme Court reported in Calcutta co. Ltd. v. CIT (1959) 37 ITR I (SC) and Bharat Earth-Movers v. CIT (2000) 245 ITR 428 (SC) as well as the decision of the Special Bench reported in 35 ITR 18 [(sic)--(1990) 34 ITD 50 (Hyd)(SB) (supra)]and (1992) 43 ITD 527 (Mad) (supra) and as conceded by the Department before the jurisdictional High court in (2003) 130 Taxman 400 (Mad) (supra). iv. The Hon'ble ITAT, Vishakapatnam in the case of ACIT vs. KCP Limited in I.T.A.Nos.449/Viz/2016 and 244/Viz/2018 Assessment Year: 2011-12 and 2012-l3) has held that the liquidated dam…

Naren Rajan, Coimbatore vs. ACIT, Coimbatore

In the result, the appeal filed by the assessee for assessment year 2012-13 is partly allowed and appeal filed by the Revenue for assessment year 2012-13 is dismissed

ITA 743/CHNY/2015[2011-12]Status: DisposedITAT Chennai09 Aug 2021AY 2011-12

Bench: Shri Mahavir Singh & Shri G. Manjunatha

For Appellant: Shri K.R. Vasudevan, Advocate &For Respondent: Shri G. Srinivasa Rao, CIT
Section 2(22)(e)

…rties the same is allowable as held by the Hon’ble Supreme Court reported in Calcutta co. Ltd. v. CIT (1959) 37 ITR I (SC) and Bharat Earth-Movers v. CIT (2000) 245 ITR 428 (SC) as well as the decision of the Special Bench reported in 35 ITR 18 [(sic)--(1990) 34 ITD 50 (Hyd)(SB) (supra)]and (1992) 43 ITD 527 (Mad) (supra) and as conceded by the Department before the jurisdictional High court in (2003) 130 Taxman 400 (Mad) (supra). iv. The Hon'ble ITAT, Vishakapatnam in the case of ACIT vs. KCP Limited in I.T.A.Nos.449/Viz/2016 and 244/Viz/2018 Assessment Year: 2011-12 and 2012-l3) has held that the liquidated dam…

De La Rue Cash Processing Solution Pvt. Ltd., Gurgaon vs. ACIT, Gurgaon

ITA 2671/DEL/2013[2008-09]Status: DisposedITAT Delhi03 Jul 2018AY 2008-09

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

Section 145A

…medabad Cotton Mfg. Co. Ltd., [1994] 205 ITR 163 (S.C). • FL Simdth Mineral (P) Ltd. [20130] 36 taxmann. Com 72 (Madras Hon'ble High Court) • Huber + Suhner Exletroncis (P) Ltd. Vs. DICT, [2013] 34 taxmann.com 149 (Delhi Tribunal) • K.C.P. Ltd Vs. ITO, [1990] 34 ITD 50 (Hyderbad Tribunal Special Bench) 13. The Ld. DR relied upon the orders of the TPO/AO and the CIT(A). 14. We have heard both the parties and perused all the relevant records. Ground No. 2 and 2.1 is regarding disallowance of Rs. 1,34,98,850/- being the liquidated damages provided on account of delay and supply of machines. It is pertinent to note…

De La Rue Cash Systems India P, Ltd(Presently Known As - De La Rue Cash Processing Solutins P.Ltd, Gurgaon vs. ITO 1(1)(2), Mumbai

ITA 5017/MUM/2012[2007-08]Status: DisposedITAT Delhi03 Jul 2018AY 2007-08

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

Section 145A

…medabad Cotton Mfg. Co. Ltd., [1994] 205 ITR 163 (S.C). • FL Simdth Mineral (P) Ltd. [20130] 36 taxmann. Com 72 (Madras Hon'ble High Court) • Huber + Suhner Exletroncis (P) Ltd. Vs. DICT, [2013] 34 taxmann.com 149 (Delhi Tribunal) • K.C.P. Ltd Vs. ITO, [1990] 34 ITD 50 (Hyderbad Tribunal Special Bench) 13. The Ld. DR relied upon the orders of the TPO/AO and the CIT(A). 14. We have heard both the parties and perused all the relevant records. Ground No. 2 and 2.1 is regarding disallowance of Rs. 1,34,98,850/- being the liquidated damages provided on account of delay and supply of machines. It is pertinent to note…

M/S. Sports Infratech Pvt. Ltd., New Delhi vs. DCIT, New Delhi

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

ITA 2045/DEL/2015[2011-12]Status: DisposedITAT Delhi13 Jun 2018AY 2011-12

Bench: Sh. N. K. Saini, Am & Sh. K. N. Chary, Jm Ita No. 2045/Del/2015 : Asstt. Year : 2011-12 M/S Sports Infratech Pvt. Ltd., Vs Dy. Commissioner Of Income Tax, 204, Okhla Industrial Estate, Central Circle-5, Phase-Iii, New Delhi-110020 New Delhi (Appellant) (Respondent) Pan No. Aabcj7255J Assessee By : Sh. Sanjay Jain, Ca & Sh. Rakesh Joshi, Ca Revenue By : Sh. S. S. Rana, Cit Dr Date Of Hearing : 05.04.2018 Date Of Pronouncement : 13.06.2018 Order Per N. K. Saini, Am: This Is An Appeal By The Assessee Against The Order Dated 30.01.2015 Of Ld. Cit(A)-24, New Delhi.

For Appellant: Sh. Sanjay Jain, CA &For Respondent: Sh. S. S. Rana, CIT DR
Section 133(6)Section 133ASection 142(1)Section 143(1)Section 143(2)Section 37

…rincipal recovered liquidated damages from the contractor. Therefore, it was an allowable deduction as per the normal practice of industry. The reliance was placed on the decision of the ITAT Special Bench, Hyderabad in the case of KCP Ltd. Vs ITO reported at 34 ITD 50. 27 Sports Infratech Pvt. Ltd. 24. The ld. CIT(A) after considering the submissions of the assessee observed that the assessee had not given any factual details of the liquidated damages claimed by it. Therefore, he confirmed the addition made by the AO. 25. Now the assessee is in appeal. The ld. Counsel for the assessee reiterated the submission…

Crompton Greaves Ltd, Mumbai vs. CIT -6, Mumbai

In the result, the appeals filed by the assessee company in ITA no

ITA 2836/MUM/2014[2007-08]Status: DisposedITAT Mumbai01 Feb 2016AY 2007-08

Bench: Shri Shailendra Kumar Yadav & Shri Ramit Kochar"ी शैल" कुमार यादव, "या"यक सद"य एवं "ी "ी रिमत कोचर, लेखाकार सद"य के सम" । आयकर अपील सं./I.T.A. No. 1994/Mum/2013 ("नधा"रण वष" / Assessment Year : 2007-08) आयकर अपील सं./I.T.A. No. 2836/Mum/2014 ("नधा"रण वष" / Assessment Year : 2007-08) M/S Crompton Greaves बनाम/ Cit – 6,Mumbai, Ltd.,6Th Floor, C.G. House, 5Th Floor, V. Dr. A.B. Road, Worli, Aayakar Bhavan, Mumbai – 400 030. M.K. Road, Mumbai – 400 020. "थायी लेखा सं./Pan : Aaacc3840K .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Assessee By Shri Pradeep N. Kapasi Revenue By : Shri C.W. Angolkar सुनवाई क" तार"ख /Date Of Hearing : 29-10-2015 घोषणा क" तार"ख /Date Of Pronouncement : 01-02-2016

For Respondent: Shri C.W. Angolkar
Section 143(3)Section 263

….2013 with respect to set aside of the assessment orders dated 28.12.2010 passed u/s 143(3) of the Act by the AO with respect to the provisions for warranty, sales tax and excise duty. The ld. Counsel submitted that Tribunal in the case of K.C.P. Ltd. v. ITO, 34 ITD 50(Hyd.SB) held that since there was a breach of contract by reason of delay in performance, the damages arose at the point of breach and at that point of time liability accrued, provision for liquidated damages was to be allowed as deduction. The ld. Counsel of the assessee company contended that the assessee company has been earlier allowed in prece…

Addl CIT RG 8(1), Mumbai vs. Atos Origin India P.Ltd, Mumbai

The appeal of the AO is dismissed

ITA 2134/MUM/2012[2007-08]Status: DisposedITAT Mumbai13 Jan 2016AY 2007-08
For Appellant: Sh. Kanchan KaushalFor Respondent: Sh. Aliasger Rampurwala
Section 10ASection 10BSection 144C(3)Section 254(1)Section 37(1)

…ed in the year under consideration,that the liability had to be allowed in the same year, that in the subsequent years necessary entries were passed without affecting the P&L account.He relied upon the cases of Bharat Earth Movers(245 ITR 425) and K.C.P. Ltd.(34 ITD 50) and F.F.E. Minerals India 2 1778/12 &2134/12-ATOS Ltd.(84 TTJ 907).The Departmental Representative (DR) argued that liquidated damages were not crystallized during the year,that liability had not accrued, that there was only possibility of incurring of expenditure, that debit/credit notes from the assessee - HPCL was not made available, that it…

Atos India P.Ltd, Mumbai vs. Addl CIT RG 8(1), Mumbai

The appeal of the AO is dismissed

ITA 1778/MUM/2012[2007-08]Status: DisposedITAT Mumbai13 Jan 2016AY 2007-08
For Appellant: Sh. Kanchan KaushalFor Respondent: Sh. Aliasger Rampurwala
Section 10ASection 10BSection 144C(3)Section 254(1)Section 37(1)

…ed in the year under consideration,that the liability had to be allowed in the same year, that in the subsequent years necessary entries were passed without affecting the P&L account.He relied upon the cases of Bharat Earth Movers(245 ITR 425) and K.C.P. Ltd.(34 ITD 50) and F.F.E. Minerals India 2 1778/12 &2134/12-ATOS Ltd.(84 TTJ 907).The Departmental Representative (DR) argued that liquidated damages were not crystallized during the year,that liability had not accrued, that there was only possibility of incurring of expenditure, that debit/credit notes from the assessee - HPCL was not made available, that it…

Suhner Exletroncis (P) Ltd. v. DICT (34 ITD 50) — Cited in 9 Judgments | BharatTax