Taylor Instrument Co. (India) Ltd. v. CIT

198 ITR 1High Court1992#9723 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2026.

Sections most often in play

Section 80IA Section 142(1)Section 143(3)Section 144B Section 1963)Section 37(1)Section 40(a)(ia)Section 40(a)(ii)

Issues it is cited on

section 11 section 144 section 15 section 13 transfer opportunity of being heard india prescribed total income company section 14 person

Judgments citing Taylor Instrument Co. (India) Ltd. v. CIT

RAO KHEM CHAND VIDYA VIHAR SHIKSHA SAMITI,REWARI vs. ITO-TDS,ROHTAK, ROHTAK

In the result, the appeal of the Assessee in ITA No

ITA 3856/DEL/2024[2016-17]Status: DisposedITAT Delhi06 Feb 2026AY 2016-17

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

For Appellant: Shri M.R. Sahu, CAFor Respondent: Ms. Harpreet Kaur Hansra, Sr. DR

Section 12ASection 191Section 200(3)Section 200A(1)Section 201Section 234ESection 40a

…TR '637 (All.HC)". "CIT Vs. Cellulose Products of India Ltd [1985] 151 ITR 499 (Guj.HC)- (FB)", "P.V.Doshi Vs.CIT [1978] 113 ITR 22 (Guj.HC)","CIT Vs. Mahalaxmi Sugar Mills Co. Ltd [1993] 200 ITR 275 (Del.HC)', "Taylor Instrument Co. (India) Ltd Vs.CIT [1992] 198 ITR 1 (Del.HC)". 'Kiran Singh & Others Vs. Chaman Pawan & Ors. (1955) 1 SCR 117 (SC).' 4. Briefly stated, the facts of the case, the assessee is a Charitable Trust Registered u/s 12AA of the Income-tax Act, 1961 [the Act, for short] and claiming relief u/s 11 of the Act relating to its application of income. The Assessing Officer, made an assessment u/s…

TUFEL,GURGAON vs. ITO,WARD 4(4),GURGAON, GURGAON

In the result, the appeal of the assessee in ITA No

ITA 3293/DEL/2024[2017-18]Status: DisposedITAT Delhi04 Feb 2026AY 2017-18

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

For Appellant: Shri M.R. Sahu, CAFor Respondent: Ms. Harpreet Kaur Hansra, Sr. DR

Section 115BSection 127(2)Section 142(1)Section 143(2)Section 144Section 44ASection 69A

…TR '637 (AII.HC)". "CIT Vs. Cellulose Products of India Ltd [1985] 151 ITR 499 (Guj.HC)- (FB)", "P.V.Doshi Vs.CIT [1978] 113 ITR 22 (Guj.HC)","CIT Vs. Mahalaxmi Sugar Mills Co. Ltd [1993] 200 ITR 275 (Del.HC)', "Taylor Instrument Co. (India) Ltd Vs.CIT [1992] 198 ITR 1 (Del.HC)". 4. Briefly stated, the facts of the case are that the assessee is an individual residing in a rural village and engaged in operating his own three Trucks for transportation business. The AO received an information that the assessee had credits in Bank account of Rs 65,69,191/- including cash deposit in HDFC and ICICI Bank of Rs. 12,40,00…

SURESH CHAND,GURGAON vs. ITO,WARD 4(1),GURGAON, GURGAON

Appeal is allowed

ITA 4110/DEL/2024[2013-14]Status: DisposedITAT Delhi30 Jul 2025AY 2013-14

Bench: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahmanita No. 4110/Del/2024 : Asstt. Year : 2013-14 Suresh Chand, Vs Income Tax Officer, C/O Ca M R Sahu, House No. 651, Ward-4(1), 1St Floor, Sector-10A, Near G. D. Gurgaon, Goenka Public School, Gurgaon, Haryana-122016 Haryana-122001 (Appellant) (Respondent) Pan No. Aoopk7257H Assessee By : Sh. M. R. Sahu, Ca Revenue By : Sh. Mahesh Kumar Cit-Dr Date Of Hearing: 07.07.2025 Date Of Pronouncement: 30.07.2025 Order Per Satbeer Singh Godara: This Revenue’S Appeal For Assessment Year 2013-14, Arises Against The Cit(A)/Nfac, Delhi’S Din & Order No. Itba/Nfac/S/250/2024-25/1066753639(1) Dated 16.07.2024, In Proceedings U/S 147 Of The Income Tax Act, 1961 (In Short “The Act”).

For Appellant: Sh. M. R. Sahu, CAFor Respondent: Sh. Mahesh Kumar CIT-DR

Section 142(1)Section 147Section 148Section 151A

…in the cases of "National Thermal Power Corporation vs. CIT (1998) 229 ITR 383 (SC)", "VMT Spinning Co. Ltd Vs. CIT (2016) 389 ITR 326 (P&H)", CIT Vs. Mahalaxmi Sugar Mills Co. Ltd [1993] 200 ITR 275 (Del. HC)," Taylor Instrument Co. (India) Ltd Vs.CIT [1992] 198 ITR 1 (Del. HC).” 3 Suresh Chand 4. The Revenue vehemently objects to the assessee's aforesaid application for admission of additional grounds that the same deserve to be rejected since filed at this belated stage. We find no merit in the Revenue's instant technical objections in light of NTPC Limited Vs. CIT 229 ITR 383 (SC) & All Cargo Global Logistic…

GRASIM INDUSTRIES LTD ( CORPORATE FINANCE DIVISION),MUMBAI vs. ADDL CIT RG 6(3), MUMBAI

ITA 3762/MUM/2009[2006-07]Status: DisposedITAT Mumbai25 Feb 2025AY 2006-07

Bench: the CIT(A). The CIT(A) partly allowed the appeal preferred by the Assessee vide order, dated 18/05/2009. 4. Not being satisfied with the relief granted by the Id. CIT(A), the Assessee has preferred appeal before this Tribunal. The Revenue has also filed cross-appeal challenging the relief granted by the Id. CIT(A).

For Appellant: Shri J. D. Mistry Sr. AdvocateFor Respondent: Shri Kishor Dhule

Section 143(2)Section 143(3)Section 24Section 43B

…e same analogy has also to be applied in determining the indexed cost of acquisition. 22. The object of giving relief to an assessee by allowing indexation is with a view to offset the effect of inflation. As per the CBDT Circular No. 636 dated 31/8/1992 [see 198 ITR 1 (St)] a fair method of allowing relief by way of indexation is to link it to the period of holding the asset. The said circular further provides that the cost of acquisition and the cost of improvement have to be inflated to arrive at the indexed cost of acquisition and the indexed cost of improvement and then deduct the same from the sale consider…

MANKIND PHARMA LIMITED,DELHI vs. DCIT, CIRCLE-1(1)(1), MEERUT

In the result, the additional Ground No

ITA 2313/DEL/2022[2018-19]Status: DisposedITAT Delhi01 May 2024AY 2018-19

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

For Appellant: Shri Gaurav Jain, AdvFor Respondent: Shri Rajesh Kumar, CIT (DR)

Section 143(3)Section 144BSection 144C(13)Section 153(3)Section 270ASection 35Section 80GSection 80I

…dgment rendered by the Hon’ble Supreme Court in the case of National Thermal Power Co. Ltd. v. CIT (1998) 229 ITR 383 (SC) and by the judgment of the Hon’ble Delhi High Court in the 4 I.T.A. No.2313/Del/2022 case of Taylor Instrument Co. (India) Ltd. vs. CIT 198 ITR 1 (Del.) The prayer for admission of additional ground noted above which are not in memorandum of appeal are being admitted for adjudication in terms of Rule 11 of the Income Tax (Appellate Tribunal) Rules, 1963 owing to the fact that objections raised in additional ground are legal in nature for which relevant facts are stated to be emanating from t…

SHRI VIJAY KUMAR,JAIPUR vs. INCOME TAX OFFICER, WARD-4-1, JAIPUR

In the result, the ground of appeal is allowed

ITA 584/JPR/2019[2010-11]Status: DisposedITAT Jaipur28 Apr 2020AY 2010-11

For Appellant: Shri Tanuj Agarwal (Adv.)For Respondent: Miss Chanchal Meena (JCIT)

Section 147Section 148

…ame analogy has also to be applied in determining the indexed cost of acquisition. 22. The object of giving relief to an assessee by allowing indexation is within a view to offset the effect of inflation. As per the CBDT Circular No. 636 dated 31/8/1992 [see 198 ITR 1 (St) a fair method of allowing relief by way of indexation is to link it to the period of holding the asset. The said circular further provides that the cost of acquisition and the cost of improvement have to be inflated to arrive at the indexed cost of acquisition and the indexed cost of improvement and then deduct the same from the sale considera…

THE ACIT,(OSD)CIRCLE-8,, AHMEDABAD vs. TORRENT POWER LTD.,, AHMEDABAD

In the result, the appeal of the Revenue and the Cross-objection of the assessee, both are dismissed

ITA 1668/AHD/2012[2006-07]Status: DisposedITAT Ahmedabad05 Mar 2020AY 2006-07

Bench: Shri Sandeep Gosain & Shri Amarjit Singh

For Appellant: Shri Vartik ChowkshiFor Respondent: Shri Samir Tekriwal, CIT-DR

Section 115JSection 14Section 143(3)Section 14A

…asset from the date it was held by the determining the indexed cost of acquisition. 22) The object of giving relief to an assessee by allowing indexation is with a view to offset the effect of inflation. As per the CBDT Circular No. 636 dated 31/8/1992 [see 198 ITR 1 (St)] a fair method of allowing relief by way of indexation is to link it to the period of holding the asset. The said circular further provides that the cost of acquisition and the cost of improvement have to be inflated to arrive at .the indexed cost of acquisition and the indexed cost of improvement and then deduct the same from the sale conside…

KANCHANA BAI CHORDIA ,CHENNAI vs. ITO CW 5(1), CHENNAI

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

ITA 2681/CHNY/2018[2010-11]Status: DisposedITAT Chennai14 Aug 2019AY 2010-11

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao

For Respondent: Mr.R.Clement Ramesh

Section 143(3)Section 148Section 49Section 49(1)

…SHAH reported in [2012] 204 Taxman 691 (Bom) wherein it has been held as follows:- “22. The object of giving relief to an assessee by allowing indexation is with a view to offset the effect of inflation. As per the CBDT Circular No. 636 dated 31/8/1992 [see 198 ITR 1(St)] a fair method of allowing ITA Nos.2680 & 2681/Chny/2018 :- 4 -: relief by way of indexation is to link it to the period of holding the asset. The said circular further provides that the cost of acquisition and the cost of improvement have to be inflated to arrive at the indexed cost of acquisition and the indexed cost of improvement and then…

KANCHAN BAI,CHENNAI vs. ITO NCW 5(1), CHENNAI

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

ITA 2680/CHNY/2018[2010-11]Status: DisposedITAT Chennai14 Aug 2019AY 2010-11

Bench: Shri N.R.S. Ganesan & Shri Inturi Rama Rao

For Respondent: Mr.R.Clement Ramesh

Section 143(3)Section 148Section 49Section 49(1)

ENAM ASSET MANAGEMENT COMPANY P.LTD,MUMBAI vs. CIT 8, MUMBAI

In the result, appeal of the assessee is allowed in part

ITA 3010/MUM/2015[2011-12]Status: DisposedITAT Mumbai27 Aug 2018AY 2011-12

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm M/S. Enam Asset Management Vs. Deputy Commissioner Of Company Pvt. Ltd., Income Tax – 3(1) 810, Raheja Chambers, Aayakar Bhavan Free Press Journal Road Mumbai Nariman Point Mumbai – 400 021 Pan/Gir No.Aaace3554C Appellant) .. Respondent)

Section 10Section 10(15)(iv)Section 143(3)Section 14A

…the additional ground should be accepted and decided on merit. Reliance was also placed on the 3 M/s. Enam Asset Management Co. Pvt. Ltd., decision of Supreme Court in case of Jute Corporation of India Ltd., 187 ITR 688 and Taylor Instrument Co. (India) Ltd., 198 ITR 1. 4. Learned AR also placed reliance on the decision of Hon’ble Bombay High Court in the case of CIT v. Pruthvi Brokers & Shareholders Pvt. Ltd. [2012] 23 taxmann.com 23. 5. We have carefully gone through the decision of Hon’ble Bombay High Court in case of Pruthvi Brokers & Shareholders Pvt. Ltd., wherein it was held that even though deduction was…

ITO (IT) 3(2)(1), MUMBAI vs. NITA NARENDRA MULANI, MUMBAI

In the result the appeal of the Revenue is dismissed

ITA 243/MUM/2016[2011-12]Status: DisposedITAT Mumbai25 Jul 2018AY 2011-12

Bench: Shri Pawan Singh & Shri N.K. Pradhanito (It)-3(2)(1), Smt. Nita Narendra Mulani R. No. 104, Scindia House, C/O Hajeetsingh Bubber, Ballard Pier, Vs. Cci Project Pvt. Ltd. 6, Mumbai-38. Shoorji Vallabhdas Marg, Laxmi Building, Ballard Estate, Mumbai-400001. Pan: Atqpm0689Q Appellant Respondent Appellant By : Shri N.S. Jangpangi (Cit-Dr) Respondent By : Shri Hitesh Trivedi (Ar) Date Of Hearing : 16.07.2018 Date Of Pronouncement : 25.07.2018 Order Under Section 254(1)Of Income Tax Act Per Pawan Singh;

For Appellant: Shri N.S. Jangpangi (CIT-DR)For Respondent: Shri Hitesh Trivedi (AR)

Section 143(3)Section 2Section 254(1)Section 45Section 47Section 48

…same analogy has also to be applied in determining the indexed cost of acquisition. 22. The object of giving relief to an assessee by allowing indexation is with a view to offset the effect of inflation. As per the CBDT Circular No. 636 dated 31/8/1992 [see 198 ITR 1 (St)] a fair method of allowing relief by way of indexation is to link it to the period of holding the asset. The said circular further provides that the cost of acquisition and the cost of improvement have to be inflated to arrive at the indexed cost of acquisition and the indexed cost of improvement and then deduct the same from the sale consider…