Trading Co. P. Ltd. v. CIT (SC)

60 ITR 303Reported decision#21147 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 341,001 Indian tax judgments — from 2021 to 2024.

Issues it is cited on

section 80e section 75 section 32(2)convertible foreign exchange section 80ab section 32a section 80m section 80h domestic company section 80c section 80hhc deduction under section 80ia

Judgments citing Trading Co. P. Ltd. v. CIT (SC)

Tata Elxsi Limited, Bangalore vs. Deputy Commisioner Incomer Tax, Circle-7(1)(1), Bangalore

Accordingly, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 1152/BANG/2023[2018-19]Status: DisposedITAT Bangalore28 Feb 2024AY 2018-19

Bench: Shri Narender Kumar Choudhry & Shri Laxmi Prasad Sahuassessment Year : 2018-19 M/S. Tata Elxsi Ltd., The Deputy 126, Itpb Road, Commissioner Hoody, Of Income Tax, Whitefield, Circle – 7(1)(1), Bangalore – 560 048. Bangalore. Vs. Pan: Aaact7872Q Appellant Respondent

For Appellant: Shri Padam Chand Khincha, CAFor Respondent: Shri Subramanian .S, JCIT DR

Section 10ASection 10A(9)Section 250

…kata HC) 33 ITR 341 7. CIT v. Cocanada Radhaswami Bank Ltd. (SC) 57 ITR 306 CIT vs. Bhavnagar Trust Corporation (P.) Ltd. (Gujarat HC) 69 ITR 278 8. Western states Trading Co. P. Ltd. v. CIT (SC) 80 ITR 21 9. 10. CIT v. Shrikishan Chandmal (Madhya Pradesh HC) 60 ITR 303 11. CIT v. R. Dalmia (Delhi HC) 96 ITR 463 12. Brooke Bond and Co. Ltd. v. CIT (SC) 162 ITR 373 13. Addl.CIT v. Solar Chemical Pvt. Ltd. (Allahabad HC) 190 ITR 216 14. CIT v. Ramnath Goenka (Madras HC) 259 ITR 26 15. K. Raheja IT Park v. DCIT (ITAT Hyderabad) ITANo. 1774/Hyd/14, 727/Hyd/15 & 728/Hyd/15 Page 20 of 39 16. P.K. Badianiv. CIT(SC) 105…

M/S. Tata Elxsi Limited, Bangalore vs. Deputy Commissioner Income Tax, Circle-7(1)(1), Bangalore

ITA 975/BANG/2023[2020-2021]Status: DisposedITAT Bangalore08 Jan 2024AY 2020-2021

Bench: Shri George George K. & Shri Chandra Poojari

Section 10ASection 30Section 80ASection 80HSection 80I

…kata HC) 33 ITR 341 7. CIT v. Cocanada Radhaswami Bank Ltd. (SC) 57 ITR 306 8. CIT vs. Bhavnagar Trust Corporation (P.) Ltd. (Gujarat HC) 69 ITR 278 9. Western states Trading Co. P. Ltd. v. CIT (SC) 80 ITR 21 10. CIT v. Shrikishan Chandmal (Madhya Pradesh HC) 60 ITR 303 11. CIT v. R. Dalmia (Delhi HC) 96 ITR 463 12. Brooke Bond and Co. Ltd. v. CIT (SC) 162 ITR 373 13. Addl.CIT v. Solar Chemical Pvt. Ltd. (Allahabad HC) 190 ITR 216 14. CIT v. Ramnath Goenka (Madras HC) 259 ITR 26 15. K. Raheja IT Park v. DCIT (ITAT Hyderabad) ITANo. 1774/Hyd/14, 727/Hyd/15 & 728/Hyd/15 16. P.K. Badianiv. CIT(SC) 105 ITR 642 115. W…

M/S. Tata Elxsi Limited., Bangalore vs. Deputy Commissioner Income Tax, Circle-7(1)(1), Bangalore

In the result, all the appeals of the assessee are partly allowed for statistical purposes

ITA 927/BANG/2023[2016-17]Status: DisposedITAT Bangalore08 Jan 2024AY 2016-17

Bench: Shri George George K. & Shri Chandra Poojari

For Appellant: Shri Padam Chand Kincha, A.RFor Respondent: Shri D.K. Mishra, D.R

Section 10ASection 30Section 80ASection 80H

…a HC) 33 ITR 341 6. CIT v. Cocanada Radhaswami Bank Ltd. (SC) 57 ITR 306 7. CIT vs. Bhavnagar Trust Corporation (P.) Ltd. (Gujarat HC) 69 ITR 278 8. Western states Trading Co. P. Ltd. v. CIT (SC) 80 ITR 21 9. 10. CIT v. Shrikishan Chandmal (Madhya Pradesh HC) 60 ITR 303 11. CIT v. R. Dalmia (Delhi HC) 96 ITR 463 12. Brooke Bond and Co. Ltd. v. CIT (SC) 162 ITR 373 13. Addl.CIT v. Solar Chemical Pvt. Ltd. (Allahabad HC) 190 ITR 216 14. CIT v. Ramnath Goenka (Madras HC) 259 ITR 26 15. K. Raheja IT Park v. DCIT (ITAT Hyderabad) ITANo. 1774/Hyd/14, 727/Hyd/15 & 728/Hyd/15 16. P.K. Badianiv. CIT(SC) 105 ITR 642 Page…

The Deputy Commissioner of Income Tax, Circle-1(1), Guntur vs. Andhra Trade Development Corporation Private Limited, Guntur

In the result, appeal filed by the Revenue and the cross objection filed by the assessee are dismissed

ITA 434/VIZ/2019[2015-16]Status: DisposedITAT Visakhapatnam05 May 2021AY 2015-16

Bench: Shri N.K. Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon'Ble

For Appellant: Shri G.V.N. Hari, AdvocateFor Respondent: Shri K.S. Rajendra Kumar, CIT DR

Section 143(1)Section 250(6)Section 50

…of depreciable asset. The Hon'ble ITAT, Visakhapatnam relying on the decision of Hon'ble Supreme Court in thecase of Western States Trading Co. (P) Ltd. (80 ITR 21) and also the decision of Hon'ble Madhya Pradesh High Court in the case of Sri Kishan Chandmal (60 ITR 303) held that unabsorbed depreciation and business loss can be set off against short term capital gains computed u/s. 50 ofthe Act. In the present case, the appellant in the return clearly mentioned that capital gains arose on account of sale of depreciable asset. The relevant part of the order of Hon'ble ITAT, Visakhapatnam is reproduced as under: "…