Tamilnadu Cements Corporation Ltd. v. Joint Commissioner of Income Tax (349 ITR 58)

VGP GOLDEN BEACH RESORTS LTD.,CHENNAI vs. ACIT, CHENNAI

In the result, the appeals filed by the assessees are allowed for statistical purposes

ITA 133/CHNY/2019[1999-2000]Status: DisposedITAT Chennai20 Jun 2023AY 1999-2000

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri AR.V. Sreenivasan, Addl.CIT

…अपीलीय अिधकरण, ‘बी’ "यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ीमहावीर "सह, उपा"य" एवं "ी मनोज कुमार अ"वाल, लेखा सद"य के सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 132/CHNY/2019 िनधा"रण वष" /Assessment Year: 1998-99 VGP Housing (P) Ltd., The ACIT, No.6, VGP Square, v. Corporate Circle 3(2), Dharmaraja Koil Street, Chennai – 34. Saidapet, Chennai – 600 015. PAN: AAACV 2568B (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./ITA No.: 133/CHNY/2019 िनधा"रण वष" /Assessment Year: 1999-2000 V.G.P. Golden Beach Re…

M/S. VGP HOUSING (P) LTD.,,CHENNAI vs. ACIT,, CHENNAI

In the result, the appeals filed by the assessees are allowed for statistical purposes

ITA 132/CHNY/2019[1998-99]Status: DisposedITAT Chennai20 Jun 2023AY 1998-99

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri AR.V. Sreenivasan, Addl.CIT

Section 115Section 115JSection 143(3)

…अपीलीय अिधकरण, ‘बी’ "यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ीमहावीर "सह, उपा"य" एवं "ी मनोज कुमार अ"वाल, लेखा सद"य के सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.: 132/CHNY/2019 िनधा"रण वष" /Assessment Year: 1998-99 VGP Housing (P) Ltd., The ACIT, No.6, VGP Square, v. Corporate Circle 3(2), Dharmaraja Koil Street, Chennai – 34. Saidapet, Chennai – 600 015. PAN: AAACV 2568B (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./ITA No.: 133/CHNY/2019 िनधा"रण वष" /Assessment Year: 1999-2000 V.G.P. Golden Beach Re…

M/S. TIKAULA SUGAR MILLS LTD.,MUZAFFARNAGAR vs. ACIT, MUZAFFARNAGAR

In the result, the appeal filed by the assessee is partly allowed

ITA 4980/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Jun 2021AY 2012-13

For Appellant: Shri Akhilesh Kumar, AdvocateFor Respondent: Shri Prakash Dubey, Sr. DR

Section 115JSection 80I

…ll.) 7 3. CIT V ACC Ltd. (2020) 113 taxmann.com 168(SC) 12. Relying on the following decisions, he submitted that prior period expenses/liabilities are to be adjusted in computing the net profit u/s 115JB: 1. Tamil Nadu Cements Corporation Ltd v JCIT [2012] 349 ITR 58 (Mad) 2. CIT v Khaitan Chemicals & Fertilizers Ltd. [2008] 307 ITR 150 (Del) 3. Southern Power Distribution Company of AP Ltd v DC1T [2018] 170 ITD 1 (Hyd ITAT) 169 (Del-ITAT) 4. DCIT v Railtel Corpn of India Ltd [2019] 103 taxmann.com 438(Del-A) 45-70 13. He accordingly submitted that the order of the CIT(A) be set aside and the return filed by…

M/S GOLDEN GATE PROPERTIES LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

In the result, the impugned order passed by the tribunal

ITA/258/2016HC Karnataka04 Mar 2021

Bench: ALOK ARADHE,ASHOK S.KINAGI

Section 115JSection 143(1)Section 260Section 260ASection 5Section 80I

…mpact on the current net profit or loss could be perceived. The Hon'ble High Court of Madras has concurred with the decision of the Hon'ble High Court of Delhi while deciding the case of Tamil Nadu Cements Corporation Ltd. Vs. JCIT (Spl. Range) (2012) 349 ITR 58 (Madras). Following the decision of the 12 Hon'ble High Courts of Delhi and Madras, the appellant is eligible to adjust the prior period expenses while computing the book profit under Section 115JB of the Act irrespective of whether such prior period expenses are shown separately or not. In view of the legal position discussed above, thi…

MUKUND LIMITED,MUMBAI vs. ITO 3(2)(2), MUMBAI

In the result, ground No 3 of the appeal filed by the assessee for assessment year 2004-2005 is allowed

ITA 679/MUM/2011[2004-05]Status: DisposedITAT Mumbai15 Jan 2020AY 2004-05

Bench: Shri M. Balaganesh (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2004-05 Mukand Limited, The Income Tax Officer 3(2)(2), Bajaj Bhavan, 3Rd Floor, Aayakar Bhavan, M.K. Road, 226 Nariman Point, New Marine Lines, Mumbai - 400021 Vs. Mumbai - 400020 Pan: Aaacm5008R (Appellant) (Respondent) Assessee By : Shri Gajendra Jain (Ar) Revenue By : Ms. Nilu Jaggi (Dr) Date Of Hearing: 13/12/2019 Date Of Pronouncement: 15/01/2020 O R D E R Per Ram Lal Negi, Jm

For Appellant: Shri Gajendra Jain (AR)For Respondent: Ms. Nilu Jaggi (DR)

Section 115J

…n: 1. CIT vs. M/s Bajaj Hindustan Ltd. ITA No. 198 of 2009 dated 15.04.2009 (Bom) 2. Gulf Oil Corporation Ltd. vs. ACIT 2008 111 ITD 124 (Hyd); 3. CIT vs. Khetan Chemicals Fertilizers Ltd. 2019 221 CTR 501 (Del) 4. TamilNadu Cements Corporation Ltd. JCIT 2012 349 ITR 58 (Mad) 5. DCIT vs. Farmson Pharmaceuticals Gujarat Ltd.. 3. The coordinate Bench after hearing both the sides allowed the MA and recalled the order dated 05.12.2018 for the limited purpose of re-adjudicating ground No. 3 after considering two judgments i.e. CIT vs. M/s Bajaj Hindustan Ltd. ITA No. 198 of 2009 dated 15.04.2009 (Bom) Gulf Oil Corpor…

DCIT, CIRCLE-2(1), TIRUPATHI vs. M/S. SOUTHERN POWER DISTRIBUTION COMPANY OF ANDHRA PRADESH LIMITED,, TIRUPATHI

In the result, appeal filed by the assessee is allowed &

ITA 1533/HYD/2013[2007-08]Status: DisposedITAT Hyderabad27 Apr 2018AY 2007-08

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahmanm/S. Southern Power Vs Dy. Commissioner Of Income Distribution Company Of Tax, Circle 2(1) Andhra Pradesh Ltd Tirupati Tirupati 517 503 Pan: Aahcs 4056 Q Dy. Commissioner Of Vs M/S. Southern Power Distribution Income Tax, Company Of Andhra Pradesh Ltd Circle 2(1) Tirupati 517 503 Tirupati Pan: Aahcs 4056 Q

For Appellant: Shri A.V. RaghuramFor Respondent: Smt. U. Mini Chandran, DR

Section 115JSection 143(3)

…s contention, he placed reliance upon the decision of the Hon'ble Delhi High Court in the case of CIT vs. Khetan Chemicals & Fertilizers Ltd reported in 307 ITR 150 and also of the Hon'ble Madras High Court in the case of T.N. Cements Ltd vs. DCIT reported in 349 ITR 58. 6. The learned DR, on the other hand, supported the orders of the authorities below and has also drawn our attention to the comments of the Comptroller and Auditor General of India for the year ended 31.03.2009 and the assessee’s reply thereto and to the comments on the expenditure at page 32 of the paper book wherein the comment of the Comptroll…

M/S. SOUTHERN POWER DISTRIBUTION COMPANY OF ANDHRA PRADESH LTD.,,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX,, HYDERABAD

In the result, appeal filed by the assessee is allowed &

ITA 1460/HYD/2013[2009-10]Status: DisposedITAT Hyderabad27 Apr 2018AY 2009-10

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahmanm/S. Southern Power Vs Dy. Commissioner Of Income Distribution Company Of Tax, Circle 2(1) Andhra Pradesh Ltd Tirupati Tirupati 517 503 Pan: Aahcs 4056 Q Dy. Commissioner Of Vs M/S. Southern Power Distribution Income Tax, Company Of Andhra Pradesh Ltd Circle 2(1) Tirupati 517 503 Tirupati Pan: Aahcs 4056 Q

For Appellant: Shri A.V. RaghuramFor Respondent: Smt. U. Mini Chandran, DR

Section 115JSection 143(3)

…s contention, he placed reliance upon the decision of the Hon'ble Delhi High Court in the case of CIT vs. Khetan Chemicals & Fertilizers Ltd reported in 307 ITR 150 and also of the Hon'ble Madras High Court in the case of T.N. Cements Ltd vs. DCIT reported in 349 ITR 58. 6. The learned DR, on the other hand, supported the orders of the authorities below and has also drawn our attention to the comments of the Comptroller and Auditor General of India for the year ended 31.03.2009 and the assessee’s reply thereto and to the comments on the expenditure at page 32 of the paper book wherein the comment of the Comptroll…

DCIT vs. M/S GOLDEN GATE PROPERTIES LTD.,,

In the result, the appeal of the revenue allowed for statistical purposes

ITA 1708/BANG/2013[2010-11]Status: DisposedITAT Bangalore29 Dec 2015AY 2010-11

Bench: Shri Abraham P George & Shri Vijay Pal Raodeputy Commissioner Of Income-Tax, Circle 11(3), Bangalore. … Appellant Vs. M/S. Golden Gate Properties Ltd. No.820, Golden House, 80 Feet Road, 8Th Block, Koramangala, Bangalore-560095. … Respondent Pan: Aaacg 5284 H

For Appellant: Shri Sanjay Kumar, CIT(DR)For Respondent: Shri V.Narendra Sharma, Advocate

Section 1Section 115JSection 143(3)Section 211Section 211(2)Section 211(6)Section 80

…ances of the case. 2) The CIT(A) erred in holding that the assessee is eligible to adjust the prior period expenses while computing the book profit u/s 115JB by relying oil decision in the case of Tamil Nadu Cement Corporation Ltd. vs JCIT(Special Range)(2012)349 ITR 58(Madras) and CIT vs Khaitan Chemicals and fertilizers Ltd [2008] 307 ITR 150(Delhi) without appreciating the fact that not only the prior period expenses is not an item which is specified in Cl ause (i) to (viii) of Explanation 1 to Section I15JB(I) but also that the amount of prior period expenses of Rs.14,37,10,403 had not been debited to the P&L…

Tamilnadu Cements Corporation Ltd. v. Joint Commissioner of Income Tax

Judgments citing Tamilnadu Cements Corporation Ltd. v. Joint Commissioner of Income Tax