Synco Industries Ltd. v. Assessing Officer, Income Tax, Mumbai and Another

215 CTR 385Supreme Court of India2008#19888 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2017 to 2022.

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Judgments citing Synco Industries Ltd. v. Assessing Officer, Income Tax, Mumbai and Another

M/S. Karnataka Power Corporation Limited, Bangalore vs. Assistant Commissioner of Income Tax, Circle- 11(5), Bangalore

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

ITA 26/BANG/2020[2010-11]Status: DisposedITAT Bangalore02 Mar 2022AY 2010-11

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year: 2010-11

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Shri Sumer Singh Meena, D.R

Section 115JSection 80I

…he same. 3. Aggrieved by the said order, assessee preferred an appeal to the Tribunal. The Tribunal relying on the judgment of the Apex Court in the case of Synco Industries Ltd. Vs. Assessing Officer, Income Tax, Mumbai and Another, (2008) 1 CLT 804 : (2008) 215 CTR 385 : (2008) 299 ITR 444 : (2008) 4 JT 1 : (2008) 4 SCALE 263 : (2008) 4 SCC 22 : (2008) 168 TAXMAN 224 has held the profits of the eligible units have to be computed without the loss from the rearing division being adjusted against the same and he held that the assessee was right in quantifying deductions in respect of Section 80-IB without adjustin…

Deputy Commissioner of Income Tax, Circle- 4(1)(1), Bangalore vs. M/S. Karnataka Power Corporation Limited, Bangalore

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

ITA 10/BANG/2020[2010-11]Status: DisposedITAT Bangalore02 Mar 2022AY 2010-11

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year: 2010-11

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Shri Sumer Singh Meena, D.R

Section 115JSection 80I

Assistant Commissioner of Income Tax, Central Circle-1(4), Bengaluru vs. Sri. Nakoda Construction Ltd, Bengaluru

In the result, the appeal filed by the revenue is allowed

ITA 2647/BANG/2017[2014-15]Status: DisposedITAT Bangalore11 Apr 2018AY 2014-15

Bench: Shri N.V. Vasudevan & Shri Arun Kumar Garodiaassessment Year :2014-15

For Appellant: Shri C.H. Sundar Rao, CIT (DR-I)For Respondent: Shri Saurabh T. Jain, CA

Section 36(2)Section 80I

…gainst the profit or loss of other non-eligible businesses of assessee? Page 2 of 5 3. Whether on the facts and in the circumstances of the case, the Ld. CIT(A) erred in relying on the Hon'ble Supreme Court's decision in the case of Synco Industries Limited (215 CTR 385(2008), wherein the facts of the case are distinct from the present case? 4. Any other grounds that may arise at the time of hearing.” 3. Brief facts are that it is noted by the AO in para 6 of the assessment order that assessee has debited an amount of Rs. 50,02,917/- being ‘Write Offs’ under ‘Operating and Other Expenses’ as on 31st March, 2014…

West Bengal Industrial Infrastructure Development Corporation, Kolkata vs. DCIT, Cir-10, Kolkata

In the result, the appeal filed by the assessee is dismissed

ITA 1467/KOL/2014[2010-2011]Status: DisposedITAT Kolkata05 Apr 2017AY 2010-2011

Bench: Shri N.V.Vasudevan, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita No.1467/Kol/2014 ("नधा"रण वष" /Assessment Year:2010-2011) West Bengal Industrial Vs. Dcit, Circle-10, Kolkata, Infrastructure Development Aayakar Bhawan, P-7, Corporation, Chowringhee Square, 5, Council House Street (3Rd Kolkata-700069 Floor), Kolkata-700001 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.: Aaacw 3073 C .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Assessee By : Shri Sanjay Bhattacharya, Fca Revenue By : None सुनवाई क" तार"ख / Date Of Hearing : 02/03/2017 घोषणा क" तार"ख/Date Of Pronouncement 05/04/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am The Captioned Appeal Filed By The Assessee, Pertaining To The Assessment Year 2010-2011, Is Directed Against The Order Passed By Ld. Commissioner Of Income Tax (Appeals)-Xii, Kolkata, In Appeal No.140/Xii/Cir-10/13-14, Dated 14.02.2014, Which In Turn Arises Out Of An Order Passed By The Assessing Officer (Ao) Under Section 143(3) Of The Income Tax Act 1961, (Hereinafter Referred To As The ‘Act’), Dated 21.03.2013. 2. Brief Facts Of The Case Qua The Assessee Are That Assessee Filed Its Return Of Income For The Assessment Year 2010-2011 On 13.10.2010 Disclosing Total Income Of Rs.6,59,11,015/-. Subsequently The Assessee Filed Revised Return Of Income For Assessment Year 2010-2011 On 31.3.2012 Disclosing Total Income Of Rs.6,49,27,168/-. Assessee’S Case Was Processed U/S.143(1) On 24.05.2011 Accepting The Return Of Income. West Bengal Industrial Infrastructure Dev.Corp Later On Assessee’S Case Was Selected For Scrutiny U/S.143(3) Of The Act

For Appellant: Shri Sanjay Bhattacharya, FCAFor Respondent: None

Section 143(1)Section 143(3)Section 80Section 80HSection 80l

…er was justified in holding that those incomes do not form part of the undertaking. Coming to the grossing up of total income for deduction under sec.80IA in respect of eligible and non-eligible units in Synco Industries ltd. Vs. AO (2008) 299 ITR 444; (2008) 215 CTR 385 (SC), where the Gross total income after set-off of brought forward losses was nil, and the assessee claimed deduction u/s.80I for unit in profit without set-off of losses from eligible unit, the AO held that deduction u/s.80I is allowed only after set-off of losses of eligible unit, and deduction under sec.80I cannot exceed gross total income, t…