Surendra Engineering Corporation v. ACIT

86 ITD 121Income Tax Appellate Tribunal2003#5565 most cited

What is Surendra Engineering Corporation v. ACIT authority for?

Decisions of the Tribunal, including Special Benches, that have followed earlier decisions in the assessee's own case or the case of Hero Exports v. CIT, are binding on coordinate benches, especially when the revenue cannot controvert the findings. This principle of consistency is applied to allow additional grounds of appeal.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2018 to 2025.

Also referred to as

Surendra Engineering Corporation v. ACIT · 86 ITD 121 · ITAT · principle of consistency · coordinate bench · binding precedent · assessee's own case · Hero Exports v. CIT · additional ground of appeal · Revenue cannot controvert

Sections most often in play

Section 35DSection 40(a)(i)Section 80HHCSection 28(iiid)Section 35(2AB)Section 35Section 45Section 54EC

Issues it is cited on

section 35dsection 80hinterest on refundsection 10(33)section 115jasection 80hhcsection 80hhsection 145abusiness connectioninterest on securitiessection 244asection 40(a)(i)

Judgments citing Surendra Engineering Corporation v. ACIT

Bajaj Holdings & Investments Ltd ( Formerly Known As Bajaj Auto Ltd), Mumbai vs. Addl CIT RG 3(1), Mumbai

The appeals are partly allowed

ITA 6838/MUM/2008[2004-2005]Status: DisposedITAT Mumbai17 Feb 2025AY 2004-2005

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Ms. Vasanti PatelFor Respondent: Shri Ankush Kapoor
Section 143(3)

…he Tribunal after examining the issue placed reliance on the decision of Hon'ble Supreme Court of India in the case of Hero Exports vs. CIT 295 ITR 454 and the decision of Special Bench of the Tribunal in the case of Surendra Engineering Corporation vs. ACIT, 86 ITD 121 and decided the issue in favour of assessee. For the sake of brevity the findings of ITA No. 6838/Mum/2008, ITA No.6674/Mum/2008 ITA No.1223/Mum/2010, ITA No. 535/Mum/2010 ITA No.5299/Mum/2010, ITA No.4632/Mum/2010 Assessment Years 2004-05, 2005-06 & 2006-07 the Co-ordinate Bench are not reproduced hereunder. The Revenue could not controvert the…

Bajaj Holdngs & Investment Ltd ( Erstwhile Bajaj Auto Ltd), Mumbai vs. Addl CIT RG 3(1), Mumbai

In the result, the appeal of the assessee is partly allowed and appeal of the revenue is dismissed

ITA 3043/MUM/2010[2002-013]Status: DisposedITAT Mumbai24 Jun 2024AY 2002-013

Bench: Shri Vikas Awasthy & Shri Amarjit Singhbajaj Holdings & Vs. Additional Commissioner Investment Ltd. Of Income-Tax, Range 3(1) Erstwile Bajaj Auto Ltd.) Aayakar Bhavan, Bajaj Bhavan, 226, M.K. Road, Nariman Point, Mumbai – 400 020 Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Dcit-3(4) Vs. M/S Bajaj Holding & Room No. 481-2, 4Th Floor, Investment Limited Aaykar Bhavan, (Erstwhile Bajaj Auto Ltd) Mumbai – 400020 226, Bajaj Bhavan, 2Nd Floor, Jamnalal Bajaj Marg, Nariman Point Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Appellant By : Percy Pardiwala & Vasanti Patel Respondent By : Ankush Kapoor

For Appellant: Percy Pardiwala &For Respondent: Ankush Kapoor
Section 143(3)Section 2(47)

…“(a) ITAT-AY 1999-00 (ITA No. 2125/Mum/05) (b) ITAT-AY 2000-01 (ITA No. 3055/Mum/05) (c) ITAT AY 1997-98 (ITA No. 5030/Mum/2001) (d) ITAT AY 1996-97 (ITA No. 1781/Mum/2000) (e) ITAT AY 1995-96 (ITA No. 3493/Mum/1999) (f) Surendra Engg. Corprn. vs. ACIT [2003] 86 ITD 121 (Mum) (SB) (g) Hon'ble Supreme Court in the case of Hero Exports vs. CIT [2007] 295 ITR 454 (SC)” The extract of the decision of ITAT for AY 2000-01vide ITA No. 3055/Mum/2005 is reproduced as under: “108. During the course of appellate proceeding before us at the outset the ld. Counsel submitted that identical issue and similar fact has been adjud…

Addl CIT RG 3(1), Mumbai vs. Bajaj Auto Ltd, Mumbai

In the result, the appeal of the assessee is partly allowed and appeal of the revenue is dismissed

ITA 2899/MUM/2010[2002-03]Status: DisposedITAT Mumbai24 Jun 2024AY 2002-03

Bench: Shri Vikas Awasthy & Shri Amarjit Singhbajaj Holdings & Vs. Additional Commissioner Investment Ltd. Of Income-Tax, Range 3(1) Erstwile Bajaj Auto Ltd.) Aayakar Bhavan, Bajaj Bhavan, 226, M.K. Road, Nariman Point, Mumbai – 400 020 Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Dcit-3(4) Vs. M/S Bajaj Holding & Room No. 481-2, 4Th Floor, Investment Limited Aaykar Bhavan, (Erstwhile Bajaj Auto Ltd) Mumbai – 400020 226, Bajaj Bhavan, 2Nd Floor, Jamnalal Bajaj Marg, Nariman Point Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb3370K Appellant .. Respondent Appellant By : Percy Pardiwala & Vasanti Patel Respondent By : Ankush Kapoor

For Appellant: Percy Pardiwala &For Respondent: Ankush Kapoor
Section 143(3)Section 2(47)

…“(a) ITAT-AY 1999-00 (ITA No. 2125/Mum/05) (b) ITAT-AY 2000-01 (ITA No. 3055/Mum/05) (c) ITAT AY 1997-98 (ITA No. 5030/Mum/2001) (d) ITAT AY 1996-97 (ITA No. 1781/Mum/2000) (e) ITAT AY 1995-96 (ITA No. 3493/Mum/1999) (f) Surendra Engg. Corprn. vs. ACIT [2003] 86 ITD 121 (Mum) (SB) (g) Hon'ble Supreme Court in the case of Hero Exports vs. CIT [2007] 295 ITR 454 (SC)” The extract of the decision of ITAT for AY 2000-01vide ITA No. 3055/Mum/2005 is reproduced as under: “108. During the course of appellate proceeding before us at the outset the ld. Counsel submitted that identical issue and similar fact has been adjud…

DCIT Cir - 3(1), Mumbai vs. M/S. Bajaj Auto Ltd., Mumbai

In the result, the appeals filed by the assesse are partly allowed and the appeals filed by the revenue are dismissed

ITA 573/MUM/2007[2000-2001]Status: DisposedITAT Mumbai28 Nov 2023AY 2000-2001

Bench: Aby T Varkey & Shri Amarjit Singh

For Appellant: Ms. Vasanti Patel & Shri CharuFor Respondent: Shri. Krishna Bandi
Section 143(2)Section 143(3)

…he Tribunal after examining the issue placed reliance on the decision of Hon'ble Supreme Court of India in the case of Hero Exports vs. CIT 295 ITR 454 and the decision of Special Bench of the Tribunal in the case of Surendra Engineering Corporation vs. ACIT, 86 ITD 121 and decided the issue in favour of assessee. For the sake of brevity the findings of the Co-ordinate Bench are not reproduced hereunder. The Revenue could not controvert the findings of Co- ordinate Bench on the issue. Following the decision of Tribunal in assessee's own case for the immediately P a g e | 13 ITA No. 2125 & 1399/Mum/2005 & ITA No.…

M/S. Bajaj Auto Ltd., Mumbai vs. The Dy CIT Cir 3(1), Mumbai

In the result, the appeals filed by the assesse are partly allowed and the appeals filed by the revenue are dismissed

ITA 3055/MUM/2005[2000-2001]Status: DisposedITAT Mumbai28 Nov 2023AY 2000-2001

Bench: Aby T Varkey & Shri Amarjit Singh

For Appellant: Ms. Vasanti Patel & Shri CharuFor Respondent: Shri. Krishna Bandi
Section 143(2)Section 143(3)

…he Tribunal after examining the issue placed reliance on the decision of Hon'ble Supreme Court of India in the case of Hero Exports vs. CIT 295 ITR 454 and the decision of Special Bench of the Tribunal in the case of Surendra Engineering Corporation vs. ACIT, 86 ITD 121 and decided the issue in favour of assessee. For the sake of brevity the findings of the Co-ordinate Bench are not reproduced hereunder. The Revenue could not controvert the findings of Co- ordinate Bench on the issue. Following the decision of Tribunal in assessee's own case for the immediately P a g e | 13 ITA No. 2125 & 1399/Mum/2005 & ITA No.…

The DCIT 3(1), Mumbai vs. M/S. Bajajaj Auto Ltd., Mumbai

In the result, the appeals filed by the assesse are partly allowed and the appeals filed by the revenue are dismissed

ITA 2655/MUM/2005[2000-2001]Status: DisposedITAT Mumbai28 Nov 2023AY 2000-2001

Bench: Aby T Varkey & Shri Amarjit Singh

For Appellant: Ms. Vasanti Patel & Shri CharuFor Respondent: Shri. Krishna Bandi
Section 143(2)Section 143(3)

…he Tribunal after examining the issue placed reliance on the decision of Hon'ble Supreme Court of India in the case of Hero Exports vs. CIT 295 ITR 454 and the decision of Special Bench of the Tribunal in the case of Surendra Engineering Corporation vs. ACIT, 86 ITD 121 and decided the issue in favour of assessee. For the sake of brevity the findings of the Co-ordinate Bench are not reproduced hereunder. The Revenue could not controvert the findings of Co- ordinate Bench on the issue. Following the decision of Tribunal in assessee's own case for the immediately P a g e | 13 ITA No. 2125 & 1399/Mum/2005 & ITA No.…

M/S. Bajaj Auto Ltd., Mumbai vs. The Dy CIT RG 3(1), Mumbai

In the result, the appeals filed by the assesse are partly allowed and the appeals filed by the revenue are dismissed

ITA 2125/MUM/2005[1999-2000]Status: DisposedITAT Mumbai28 Nov 2023AY 1999-2000

Bench: Aby T Varkey & Shri Amarjit Singh

For Appellant: Ms. Vasanti Patel & Shri CharuFor Respondent: Shri. Krishna Bandi
Section 143(2)Section 143(3)

…he Tribunal after examining the issue placed reliance on the decision of Hon'ble Supreme Court of India in the case of Hero Exports vs. CIT 295 ITR 454 and the decision of Special Bench of the Tribunal in the case of Surendra Engineering Corporation vs. ACIT, 86 ITD 121 and decided the issue in favour of assessee. For the sake of brevity the findings of the Co-ordinate Bench are not reproduced hereunder. The Revenue could not controvert the findings of Co- ordinate Bench on the issue. Following the decision of Tribunal in assessee's own case for the immediately P a g e | 13 ITA No. 2125 & 1399/Mum/2005 & ITA No.…

The Dy CIT RG 3(1), Mumbai vs. M/S. Bajaj Auto Ltd, Mumbai

In the result, the appeals filed by the assesse are partly allowed and the appeals filed by the revenue are dismissed

ITA 1933/MUM/2005[1999-2000]Status: DisposedITAT Mumbai28 Nov 2023AY 1999-2000

Bench: Aby T Varkey & Shri Amarjit Singh

For Appellant: Ms. Vasanti Patel & Shri CharuFor Respondent: Shri. Krishna Bandi
Section 143(2)Section 143(3)

…he Tribunal after examining the issue placed reliance on the decision of Hon'ble Supreme Court of India in the case of Hero Exports vs. CIT 295 ITR 454 and the decision of Special Bench of the Tribunal in the case of Surendra Engineering Corporation vs. ACIT, 86 ITD 121 and decided the issue in favour of assessee. For the sake of brevity the findings of the Co-ordinate Bench are not reproduced hereunder. The Revenue could not controvert the findings of Co- ordinate Bench on the issue. Following the decision of Tribunal in assessee's own case for the immediately P a g e | 13 ITA No. 2125 & 1399/Mum/2005 & ITA No.…

ACIT (Ltu-1), Mumbai vs. Bajaj Holdings & Investment Ltd, Mumbai

In the result, cross objection filed by the assessee is partly allowed

ITA 5030/MUM/2001[1997-98]Status: DisposedITAT Mumbai13 Apr 2023AY 1997-98

Bench: Shri Kuldip Singh, Hon’Ble & Shri S. Rifaur Rahman, Hon'Bleacit (Ltu-1) V. Bajaj Holdings Investment Ltd 29Th, Floor, Centre-1 226, Bajaj Bhavan, 2Nd Floor World Trade Centre Jamnalal Bajaj Marg, Nariman Point Mumbai- 400021 Cuffe Parade, Mumbai- 400075 Pan: Aaacb3370K (Appellant) (Respondent) C.O.No. 96/Mum/2002 [Arising Out Of Ita No.5030/Mum/2001 (A.Y: 1997-98)] Bhajaj Auto Limited V. Acit (Ltu-1) Bhajaj Bhavan 29Th, Floor, Centre-1 Nariman Point World Trade Centre Mumbai - 400020 Cuffe Parade, Mumbai- 400075 Pan: Aaacb3370K (Appellant) (Respondent) Assessee Represented By : Shri Percy Pardiwala& Ms. Vasanti Patel Department Represented By : Shri Rahul Kumar & Shri Vranda U Matkarri

Section 2(24)Section 35DSection 37(2)Section 80H

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI KULDIP SINGH, HON’BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ACIT (LTU-1) v. Bajaj Holdings Investment Ltd 29th, Floor, Centre-1 226, Bajaj Bhavan, 2nd Floor World Trade Centre Jamnalal Bajaj Marg, Nariman Point Mumbai- 400021 Cuffe Parade, Mumbai- 400075 PAN: AAACB3370K (Appellant) (Respondent) C.O.No. 96/MUM/2002 [ARISING OUT OF ITA NO.5030/MUM/2001 (A.Y: 1997-98)] Bhajaj Auto Limited v. ACIT (LTU-1) Bhajaj Bhavan 29th, Floor, Centre-1 Nariman Point World Trade Centre Mumbai - 400020 Cuffe Parade, Mumbai- 400…

JCIT, (OSD), Cir-4(1), Kolkata vs. M/S Beeyu Overseas Ltd., Kolkata

In the result, both the appeals of the revenue are dismissed

ITA 629/KOL/2016[2003-2004]Status: DisposedITAT Kolkata03 Apr 2019AY 2003-2004

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara] I.T.A. No. 628/Kol/2016 Assessment Year: 2002-03 I.T.A. No. 629/Kol/2016 Assessment Year: 2003-04 Jcit (Osd), Circle-4(1), Kolkata…………...................................................….…………..…......Appellant M/S. Beeyu Overseas Ltd....……………………………………....………………..……………………Respondent 64A, Ballygunge Circular Road Kolkata – 700 019 [Pan : Aabcb 3327 K] Appearances By: Shri Miraj D. Shah, A/R, Appeared On Behalf Of The Assessee. Shri C.J. Singh, Jcit Sr. D/R, Appearing On Behalf Of The Revenue.

Section 250Section 35DSection 72ASection 80H

…any infirmity in the order of the ld. CIT(A). The ld. CIT(A) in the earlier Assessment Years has applied the propositions of law laid down by the Special Bench of the Tribunal in the case of Surendra Engg. Corpn. v. Assistant Commissioner of Income-tax [2003] 86 ITD 121 (MUM.) (SB). 5. Coming to the issue of netting off of interest, during the year interest income was assessed under the head income from business. Applying the decision of the Hon’ble Apex Court in the case of ACG Associated Capsules (P.) Ltd. vs. Commissioner of Income-tax, Central-IV, Mumbai reported in [2012] 18 taxmann.com 137 (SC), we find tha…

JCIT, (OSD), Cir-4(1), Kolkata vs. M/S Beeyu Overseas Ltd., Kolkata

In the result, both the appeals of the revenue are dismissed

ITA 628/KOL/2016[2002-2003]Status: DisposedITAT Kolkata03 Apr 2019AY 2002-2003

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godara] I.T.A. No. 628/Kol/2016 Assessment Year: 2002-03 I.T.A. No. 629/Kol/2016 Assessment Year: 2003-04 Jcit (Osd), Circle-4(1), Kolkata…………...................................................….…………..…......Appellant M/S. Beeyu Overseas Ltd....……………………………………....………………..……………………Respondent 64A, Ballygunge Circular Road Kolkata – 700 019 [Pan : Aabcb 3327 K] Appearances By: Shri Miraj D. Shah, A/R, Appeared On Behalf Of The Assessee. Shri C.J. Singh, Jcit Sr. D/R, Appearing On Behalf Of The Revenue.

Section 250Section 35DSection 72ASection 80H

…any infirmity in the order of the ld. CIT(A). The ld. CIT(A) in the earlier Assessment Years has applied the propositions of law laid down by the Special Bench of the Tribunal in the case of Surendra Engg. Corpn. v. Assistant Commissioner of Income-tax [2003] 86 ITD 121 (MUM.) (SB). 5. Coming to the issue of netting off of interest, during the year interest income was assessed under the head income from business. Applying the decision of the Hon’ble Apex Court in the case of ACG Associated Capsules (P.) Ltd. vs. Commissioner of Income-tax, Central-IV, Mumbai reported in [2012] 18 taxmann.com 137 (SC), we find tha…

Vardhman Holdings Ltd., Ludhiana vs. ACIT

The appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 88/CHANDI/2009[2003-04]Status: DisposedITAT Chandigarh26 Nov 2018AY 2003-04
For Appellant: Shri Subhash Aggarwal, AdvFor Respondent: Shri Jagdish Goyal, CIT DR
Section 10BSection 143(3)Section 250(6)Section 80HSection 80I

…5.2018, wherein the order of the CIT(A) had been upheld, setting aside the issue for reworking the indirect cost of trading goods in accordance with the decision of the Special Bench of the I.T.A.T. in the case of Surendra Engineering Corporation Vs. ACIT, 86 ITD 121 (SB) (Mum). 56. Ld.DR ,on the other hand, relied on the order of the lower authorities. 57. We find that this issue already stands decided by the ITAT in the case of the VMT Spinning Co. Ltd. , for A.Y 2003- 04,in ITA no.682/chd/07 dt.13.07.2012, wherein each item of expenditure headwise was taken into consideration for allocation to traded go…

ACIT, Ludhiana vs. M/S Vardhman Holdings Ltd., Ludhiana

The appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 118/CHANDI/2009[2003-04]Status: DisposedITAT Chandigarh26 Nov 2018AY 2003-04
For Appellant: Shri Subhash Aggarwal, AdvFor Respondent: Shri Jagdish Goyal, CIT DR
Section 10BSection 143(3)Section 250(6)Section 80HSection 80I

…5.2018, wherein the order of the CIT(A) had been upheld, setting aside the issue for reworking the indirect cost of trading goods in accordance with the decision of the Special Bench of the I.T.A.T. in the case of Surendra Engineering Corporation Vs. ACIT, 86 ITD 121 (SB) (Mum). 56. Ld.DR ,on the other hand, relied on the order of the lower authorities. 57. We find that this issue already stands decided by the ITAT in the case of the VMT Spinning Co. Ltd. , for A.Y 2003- 04,in ITA no.682/chd/07 dt.13.07.2012, wherein each item of expenditure headwise was taken into consideration for allocation to traded go…

ACIT, Ludhiana vs. M/S Vardhman Textiles Ltd., Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 575/CHANDI/2009[2005-06]Status: DisposedITAT Chandigarh04 May 2018AY 2005-06

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…t was submitted that the Hon'ble ITAT has held in this case that the indirect cost and direct cost of trading goods has to be worked out keeping in view the decision of the Hon'ble Special Bench of ITAT in the case of Surendra Engineering Corporation vs. ACIT 86 ITD 121 (Mum.) (SB). And directed the A.O. to consider the direct cost and indirect cost as worked out by die assessee and allow deduction u/s 80HHC accordingly. 8.7 Since the matter travelled up to Tribunal in the earlier years in the assessee’s own case for the A.Y. 2001-02 in ITA No. 249/CHD/2008 and 280/CHD/2008 dt. 28/12/2012, wherein it was directe…

M/S Vardhman Textiles Ltd., Ludhiana vs. Addl. CIT, Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 528/CHANDI/2009[2005-06]Status: DisposedITAT Chandigarh04 May 2018AY 2005-06

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…t was submitted that the Hon'ble ITAT has held in this case that the indirect cost and direct cost of trading goods has to be worked out keeping in view the decision of the Hon'ble Special Bench of ITAT in the case of Surendra Engineering Corporation vs. ACIT 86 ITD 121 (Mum.) (SB). And directed the A.O. to consider the direct cost and indirect cost as worked out by die assessee and allow deduction u/s 80HHC accordingly. 8.7 Since the matter travelled up to Tribunal in the earlier years in the assessee’s own case for the A.Y. 2001-02 in ITA No. 249/CHD/2008 and 280/CHD/2008 dt. 28/12/2012, wherein it was directe…

ACIT, Ludhiana vs. M/S Vardhman Textiles Ltd., Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 981/CHANDI/2008[2004-05]Status: DisposedITAT Chandigarh04 May 2018AY 2004-05

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…t was submitted that the Hon'ble ITAT has held in this case that the indirect cost and direct cost of trading goods has to be worked out keeping in view the decision of the Hon'ble Special Bench of ITAT in the case of Surendra Engineering Corporation vs. ACIT 86 ITD 121 (Mum.) (SB). And directed the A.O. to consider the direct cost and indirect cost as worked out by die assessee and allow deduction u/s 80HHC accordingly. 8.7 Since the matter travelled up to Tribunal in the earlier years in the assessee’s own case for the A.Y. 2001-02 in ITA No. 249/CHD/2008 and 280/CHD/2008 dt. 28/12/2012, wherein it was directe…

Vardhman Textiles Ltd., Ludhiana vs. JCIT, Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 938/CHANDI/2008[2004-05]Status: DisposedITAT Chandigarh04 May 2018AY 2004-05

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…t was submitted that the Hon'ble ITAT has held in this case that the indirect cost and direct cost of trading goods has to be worked out keeping in view the decision of the Hon'ble Special Bench of ITAT in the case of Surendra Engineering Corporation vs. ACIT 86 ITD 121 (Mum.) (SB). And directed the A.O. to consider the direct cost and indirect cost as worked out by die assessee and allow deduction u/s 80HHC accordingly. 8.7 Since the matter travelled up to Tribunal in the earlier years in the assessee’s own case for the A.Y. 2001-02 in ITA No. 249/CHD/2008 and 280/CHD/2008 dt. 28/12/2012, wherein it was directe…

ACIT, Ludhiana vs. M/S Vardhman Textiles Ltd., Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 530/CHANDI/2008[2003-04]Status: DisposedITAT Chandigarh04 May 2018AY 2003-04

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…t was submitted that the Hon'ble ITAT has held in this case that the indirect cost and direct cost of trading goods has to be worked out keeping in view the decision of the Hon'ble Special Bench of ITAT in the case of Surendra Engineering Corporation vs. ACIT 86 ITD 121 (Mum.) (SB). And directed the A.O. to consider the direct cost and indirect cost as worked out by die assessee and allow deduction u/s 80HHC accordingly. 8.7 Since the matter travelled up to Tribunal in the earlier years in the assessee’s own case for the A.Y. 2001-02 in ITA No. 249/CHD/2008 and 280/CHD/2008 dt. 28/12/2012, wherein it was directe…

Vardhman Textile Ltd., Ludhiana vs. ACIT, Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 475/CHANDI/2008[2003-04]Status: DisposedITAT Chandigarh04 May 2018AY 2003-04

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…t was submitted that the Hon'ble ITAT has held in this case that the indirect cost and direct cost of trading goods has to be worked out keeping in view the decision of the Hon'ble Special Bench of ITAT in the case of Surendra Engineering Corporation vs. ACIT 86 ITD 121 (Mum.) (SB). And directed the A.O. to consider the direct cost and indirect cost as worked out by die assessee and allow deduction u/s 80HHC accordingly. 8.7 Since the matter travelled up to Tribunal in the earlier years in the assessee’s own case for the A.Y. 2001-02 in ITA No. 249/CHD/2008 and 280/CHD/2008 dt. 28/12/2012, wherein it was directe…

ACIT, Ludhiana vs. Vardhman Textiles Ltd., Ludhiana

In the result appeals of the Assessee and the Revenue are partly allowed

ITA 691/CHANDI/2007[2002-03]Status: DisposedITAT Chandigarh04 May 2018AY 2002-03

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

For Appellant: Shri. Subhash AggarwalFor Respondent: Sh. Ashish Abrol
Section 10BSection 14ASection 80H

…t was submitted that the Hon'ble ITAT has held in this case that the indirect cost and direct cost of trading goods has to be worked out keeping in view the decision of the Hon'ble Special Bench of ITAT in the case of Surendra Engineering Corporation vs. ACIT 86 ITD 121 (Mum.) (SB). And directed the A.O. to consider the direct cost and indirect cost as worked out by die assessee and allow deduction u/s 80HHC accordingly. 8.7 Since the matter travelled up to Tribunal in the earlier years in the assessee’s own case for the A.Y. 2001-02 in ITA No. 249/CHD/2008 and 280/CHD/2008 dt. 28/12/2012, wherein it was directe…