Universal Precision Screws v. ACIT

38 ITR (Trib) 233Income Tax Appellate Tribunal2015#14115 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 348,615 Indian tax judgments — from 2016 to 2017.

Judgments citing Universal Precision Screws v. ACIT

Siemens Technology and Services P.Ltd, Mumbai vs. CIT 7, Mumbai

In the result assessee’s appeals for the Assessment Years 2003-04 and 2005-06 are partly allowed for statistical purposes

ITA 4165/MUM/2013[2004-05]Status: DisposedITAT Mumbai30 Jun 2017AY 2004-05

Bench: Shri G.S. Pannu & Shri C.N. Prasadsiemens Information Systems V. Assistant Commissioner Of Income- Limited Tax, 130, Pandurang Budhkar Marg, 7(2), Aaykar Bhavan, M.K.Raod Worli, Mumbai 400 020 Mumbai 400 018 Pan : Aaacs 9788 E (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent)

For Appellant: Mrs. Vasanti PatelFor Respondent: Shri E.Sankaran
Section 10ASection 250

…h the business of the undertaking therefore eligible for deduction u/s 10A of the Act. He placed reliance on the following decisions:- (i) Watson Pharma (P.) Ltd. v. DCIT; [2015] 54 taxmann.com 88 (Mumbai–Trib.) (ii) Universal Precision Screws v. ACIT; [2015)38 ITR (Trib) 233 (Delhi) (iii) Krupa Trading Company v. Additional CIT; [2017] 77 taxmann.com 177 (Mumbai–Trib.) 7 ITA Nos.2563/Mum/2007 & ITA.No.2702/MUM/2007& ITA.No.6299/MUM/2011 & ITA.No.4165/Mum/2013 Siemens Technology and Services Pvt. Ltd. 10. The Ld.DR however submits that in assessee’s own case for the Assessment Year 2002–03 this issue has been…

Siemens Information Systems Ltd, Mumbai vs. Addl CIT 7(2), Mumbai

In the result assessee’s appeals for the Assessment Years 2003-04 and 2005-06 are partly allowed for statistical purposes

ITA 6299/MUM/2011[2005-06]Status: DisposedITAT Mumbai30 Jun 2017AY 2005-06

Bench: Shri G.S. Pannu & Shri C.N. Prasadsiemens Information Systems V. Assistant Commissioner Of Income- Limited Tax, 130, Pandurang Budhkar Marg, 7(2), Aaykar Bhavan, M.K.Raod Worli, Mumbai 400 020 Mumbai 400 018 Pan : Aaacs 9788 E (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent)

For Appellant: Mrs. Vasanti PatelFor Respondent: Shri E.Sankaran
Section 10ASection 250

…h the business of the undertaking therefore eligible for deduction u/s 10A of the Act. He placed reliance on the following decisions:- (i) Watson Pharma (P.) Ltd. v. DCIT; [2015] 54 taxmann.com 88 (Mumbai–Trib.) (ii) Universal Precision Screws v. ACIT; [2015)38 ITR (Trib) 233 (Delhi) (iii) Krupa Trading Company v. Additional CIT; [2017] 77 taxmann.com 177 (Mumbai–Trib.) 7 ITA Nos.2563/Mum/2007 & ITA.No.2702/MUM/2007& ITA.No.6299/MUM/2011 & ITA.No.4165/Mum/2013 Siemens Technology and Services Pvt. Ltd. 10. The Ld.DR however submits that in assessee’s own case for the Assessment Year 2002–03 this issue has been…

DCIT, Bangalore vs. M/S International Stones India Pvt. Ltd., Bangalore

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 608/BANG/2014[2009-10]Status: DisposedITAT Bangalore20 Jan 2016AY 2009-10

Bench: Smt. Asha Vijayaraghavan & Shri Inturi Rama Rao

For Appellant: Shri C. Ramesh, CAFor Respondent: Dr. P.K. Srihari, Addl. CIT(DR)
Section 10BSection 143(1)Section 143(3)

…pies of ledger account for the interest earned during the period and sanction of credit facilities vide letter dated 28.02.2011 of State Bank of India relied on the decision of the Delhi Bench of the Tribunal in the case of Universal Precision Screws v. ACIT, 38 ITR (Trib) 233 (ITAT[Del]), wherein it was held as under:- “7. After considering the rival submissions and perusing the relevant material on record, we find that the Assessing Officer held interest income as ineligible for deduction under section 10B(1) as it was not "derived from" the eligible business. The view point of the Assessing Officer would hav…

M/S International Stone India Pvt. Ltd., Bangalore vs. DCIT, Bangalore

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 539/BANG/2014[2009-10]Status: DisposedITAT Bangalore20 Jan 2016AY 2009-10

Bench: Smt. Asha Vijayaraghavan & Shri Inturi Rama Rao

For Appellant: Shri C. Ramesh, CAFor Respondent: Dr. P.K. Srihari, Addl. CIT(DR)
Section 10BSection 143(1)Section 143(3)

…pies of ledger account for the interest earned during the period and sanction of credit facilities vide letter dated 28.02.2011 of State Bank of India relied on the decision of the Delhi Bench of the Tribunal in the case of Universal Precision Screws v. ACIT, 38 ITR (Trib) 233 (ITAT[Del]), wherein it was held as under:- “7. After considering the rival submissions and perusing the relevant material on record, we find that the Assessing Officer held interest income as ineligible for deduction under section 10B(1) as it was not "derived from" the eligible business. The view point of the Assessing Officer would hav…

M/S International Stones I P Ltd, Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 1475/BANG/2014[2011-12]Status: DisposedITAT Bangalore20 Jan 2016AY 2011-12

Bench: Smt. Asha Vijayaraghavan & Shri Inturi Rama Rao

For Appellant: Shri C. Ramesh, CAFor Respondent: Dr. P.K. Srihari, Addl. CIT(DR)
Section 10BSection 143(1)Section 143(3)

…pies of ledger account for the interest earned during the period and sanction of credit facilities vide letter dated 28.02.2011 of State Bank of India relied on the decision of the Delhi Bench of the Tribunal in the case of Universal Precision Screws v. ACIT, 38 ITR (Trib) 233 (ITAT[Del]), wherein it was held as under:- “7. After considering the rival submissions and perusing the relevant material on record, we find that the Assessing Officer held interest income as ineligible for deduction under section 10B(1) as it was not "derived from" the eligible business. The view point of the Assessing Officer would hav…

M/S |Nternational Stones I P Ltd, Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 1474/BANG/2014[2010-11]Status: DisposedITAT Bangalore20 Jan 2016AY 2010-11

Bench: Smt. Asha Vijayaraghavan & Shri Inturi Rama Rao

For Appellant: Shri C. Ramesh, CAFor Respondent: Dr. P.K. Srihari, Addl. CIT(DR)
Section 10BSection 143(1)Section 143(3)

…pies of ledger account for the interest earned during the period and sanction of credit facilities vide letter dated 28.02.2011 of State Bank of India relied on the decision of the Delhi Bench of the Tribunal in the case of Universal Precision Screws v. ACIT, 38 ITR (Trib) 233 (ITAT[Del]), wherein it was held as under:- “7. After considering the rival submissions and perusing the relevant material on record, we find that the Assessing Officer held interest income as ineligible for deduction under section 10B(1) as it was not "derived from" the eligible business. The view point of the Assessing Officer would hav…

Deputy Commissioner of Income Tax, Bangalore vs. M/S International Stones India P Ltd, Bangalore

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 1332/BANG/2014[2009-10]Status: DisposedITAT Bangalore20 Jan 2016AY 2009-10

Bench: Smt. Asha Vijayaraghavan & Shri Inturi Rama Rao

For Appellant: Shri C. Ramesh, CAFor Respondent: Dr. P.K. Srihari, Addl. CIT(DR)
Section 10BSection 143(1)Section 143(3)

…pies of ledger account for the interest earned during the period and sanction of credit facilities vide letter dated 28.02.2011 of State Bank of India relied on the decision of the Delhi Bench of the Tribunal in the case of Universal Precision Screws v. ACIT, 38 ITR (Trib) 233 (ITAT[Del]), wherein it was held as under:- “7. After considering the rival submissions and perusing the relevant material on record, we find that the Assessing Officer held interest income as ineligible for deduction under section 10B(1) as it was not "derived from" the eligible business. The view point of the Assessing Officer would hav…

Universal Precision Screws v. ACIT (38 ITR (Trib) 233) — Cited in 7 Judgments | BharatTax