TR 579 (SC), CIT v. Pandian Chemicals Ltd 262 ITR 278 19 M/s. Lupin Limited (SC), CIT v. Ritesh Industries Ltd.

281 ITR 425High Court#24197 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 357,294 Indian tax judgments — from 2016 to 2020.

Judgments citing TR 579 (SC), CIT v. Pandian Chemicals Ltd 262 ITR 278 19 M/s. Lupin Limited (SC), CIT v. Ritesh Industries Ltd.

ACIT, Chennai vs. M/S Teledata Informatics Ltd., Chennai

In the result, the appeal filed by the Revenue is partly allowed for statistical purposes

ITA 2427/CHNY/2007[2003-04]Status: DisposedITAT Chennai26 Feb 2020AY 2003-04

Bench: Shri Inturi Rama Rao & Shri Duvvuru R.L.Reddy

For Appellant: Mr.R.Vijayaraghavan, AdvFor Respondent: Mrs.Vijaya Prabha, JCIT

Section 10BSection 143(3)

…account of the exchange rate fluctuation, as regards, to the re-calculation of profit eligible for deduction u/s.10B of the Act, the Ld.CIT(A) following the decision of the Hon’ble Madras High Court in the case of CIT vs. Sundaram Clayton Ltd., reported in 281 ITR 425 and also in the case of IT vs. MM Forgings Ltd., reported in 257 ITR 60 and also the Hon’ble Kerala High Court in the case of CIT vs. Abad Fisheries Ltd., reported in 258 ITR 641 held that the export turnover in respect of the sale proceeds were not received within the stipulated period, should be reduced from both export turnover as well as t…

Hydro Pneumatic Accessories India P.Ltd, Mumbai vs. ITO 10(3)1, Mumbai

In the result, the appeal is allowed

ITA 7735/MUM/2012[2008-09]Status: DisposedITAT Mumbai26 Oct 2018AY 2008-09

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2008-09 Hydro Pneumatic Ito-10(3)(1), Mumbai. Accessories India Pvt. Ltd. Vs. 17, Raja Industrial Estate, P.K. Road, Nahur Village, Mulund (W), Mumbai- 400080. Pan No. Aaach1351A Respondent Appellant Assessee By : Mr. Dharan V. Gandhi, Ar Revenue By : Mr. Abiram Kartikeyan, Dr Date Of Hearing : 31/07/2018 Date Of Pronouncement: 26/10/2018

For Appellant: Mr. Dharan V. Gandhi, ARFor Respondent: Mr. Abiram Kartikeyan, DR

Section 143(3)

…over for the purpose of section 10B of the Act. In this regard, reliance is placed by him on the decision in ITO v. Hydro Pneumatic 11 Fashion Sports (I) (P) Ltd. 78 ITD 41 (Mum), CIT v. Lakshmi Machine Works 290 ITR 667 (SC) and CIT v. Sundaram Clayton Ltd. 281 ITR 425 (Mad). Finally, the Ld. counsel submits that the amount of freight expenses reduced from export turnover has to be reduced from total turnover as well. The Ld. counsel, in support of his contentions relies on the decision in CIT v. Gem Plus Jewellery India Ltd. (2011) 330 ITR 175 (Bom) and CIT v. Tata Elxsi Ltd. (2012) 349 ITR 98 (Karn.). 10. On…

Lupin Ltd, Mumbai vs. Asst CIT Ltu, Mumbai

The appeal of the assessee is allowed

ITA 825/MUM/2012[2003-04]Status: DisposedITAT Mumbai13 Jul 2016AY 2003-04

Bench: Shri R.C. Sharma & Shri Sandeep Gosain: (A.Y : 2003-04) M/S. Lupin Limited Vs. Acit Ltu, 159, C.S.T Road, Kalina, Mumbai. Santa Cruz (East), Mumbai 400 098. Pan : Aaacl1069K (Appellant) (Respondent)

For Appellant: Shri Rajan Vora &For Respondent: Shri Manoj Kumar

Section 115JSection 127Section 139Section 143(3)Section 147Section 148Section 154Section 35Section 80Section 80I

…laws of Cambay Electric Supply Industrial Co Ltd v. CIT 113 ITR 84 (SC), CIT v. Sterling Foods 237 ITR 579 (SC), CIT v. Pandian Chemicals Ltd 262 ITR 278 19 M/s. Lupin Limited (SC), CIT v. Ritesh Industries Ltd 274 ITR 324 (Del), CIT v. Sundaram Clayton Ltd 281 ITR 425 (Mad), Liberty India v. CIT 293 ITR 520 (P&H) and Mentha & Allied Products Pvt Ltd 302 1TR 144 (All) that the income that is 'derived‟ from an industrial undertaking is only deductible u/s 80IB is clearly applicable in this case. Further reliance is placed on the ratio of decision of the apex court in the case of M/s. Pandian Chemicals ltd vs. C…