How many judgments cite Velayudhaswamy Spinning Mills (P) Ltd. v. ACIT?

207 judgments on BharatTax cite Velayudhaswamy Spinning Mills (P) Ltd. v. ACIT (340 ITR 477), spanning 2015 to 2026.

Which sections of the Income Tax Act does Velayudhaswamy Spinning Mills (P) Ltd. v. ACIT come up under?

It is most often cited in judgments turning on Section 143(3), Section 35D, Section 40(a)(i), Section 80-IA, Section 80HHC, Section 35(2AB).

Velayudhaswamy Spinning Mills (P) Ltd. v. ACIT

340 ITR 477High Court2012#436 most cited

What is Velayudhaswamy Spinning Mills (P) Ltd. v. ACIT authority for?

If unabsorbed depreciation or losses from years prior to the initial assessment year for Section 80-IA claim have already been set off against other income, they cannot be notionally carried forward again to reduce the profits of the eligible unit for computing deduction under Section 80-IA. The notional carry forward provision under Section 80-IA(5) applies only to unabsorbed depreciation or losses that have not yet been absorbed.

207

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2026.

Also referred to as

Velayudhaswamy Spinning Mills · Section 80-IA · unabsorbed depreciation · unabsorbed losses · notional carry forward · already set off · eligible business deduction · Section 80-IA(5) · initial assessment year · 340 ITR 477

Also reported as

231 CTR 36838 DTR 57

Sections most often in play

Section 143(3)Section 35D Section 40(a)(i)Section 80-IA Section 80HHC Section 35(2AB)Section 147 Section 148

Issues it is cited on

section 80ia(5)initial assessment year eligible business section 80ia(4)deduction u/s 80ia unabsorbed depreciation section 80ia section 80i gross total income disallowance under section 14a capital expenditure section 80

Judgments citing Velayudhaswamy Spinning Mills (P) Ltd. v. ACIT

CLOVER DEVELOPERS PVT LTD,MUMBAI vs. DY CIT 6(1)(1), MUMBAI

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

ITA 7922/MUM/2025[2012-13]Status: DisposedITAT Mumbai16 Feb 2026AY 2012-13

Bench: Shri Vikram Singh Yadav & Shri Sandeep Singh Karhailassessment Year : 2012-13 Clover Developers Pvt. Ltd., Dcit-6(1)(1), Flat No. 12, Mumbai. 1St Floor, Plot No. 541/C, Vs. Ashok Building, Edenwalla Road, Matunga, Mumbai-400019. Pan : Aaacg1925B (Appellant) (Respondent) For Assessee : Shri K. Gopal A/W. Shri Akhilesh Deshmukh For Revenue : Shri Virabhadra Mahajan, Sr.Dr Date Of Hearing : 11-02-2026 Date Of Pronouncement : 16-02-2026 O R D E R Per Vikram Singh Yadav, A.M :

For Appellant: Shri K. Gopal a/wFor Respondent: Shri Virabhadra Mahajan, Sr.DR

Section 143(3)Section 271(1)(c)Section 80Section 801ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “C” BENCH : MUMBAI BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER Assessment Year : 2012-13 Clover Developers Pvt. Ltd., DCIT-6(1)(1), Flat No. 12, Mumbai. 1st Floor, Plot No. 541/C, vs. Ashok Building, Edenwalla Road, Matunga, Mumbai-400019. PAN : AAACG1925B (Appellant) (Respondent) For Assessee : Shri K. Gopal a/w. Shri Akhilesh Deshmukh For Revenue : Shri Virabhadra Mahajan, Sr.DR Date of Hearing : 11-02-2026 Date of Pronouncement : 16-02-2026 O R D E R PER VIKRAM SINGH YADAV, A.M : This is an appeal filed by the a…

THE INDIA CEMENTS LTD.,CHENNAI vs. DCIT, CORPORATE CIRCLE-1(1), CHENNAI

The appeal of the assessee is allowed

ITA 2663/CHNY/2025[2021-22]Status: DisposedITAT Chennai13 Jan 2026AY 2021-22

Bench: Shri George George Kand Ms. Padmavathy.Sआयकर अपील सं./Ita No.2663/Chny/2025 धििाजरण वर्ज /Assessment Year: 2021-22

For Respondent: Mr. Shiva Srinivas, CIT

Section 139(1)Section 143Section 250Section 43BSection 80Section 80I

…आयकर अपीलीय अधिकरण, ‘बी’ न्यायपीठ, चेन्नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH: CHENNAI श्री जॉजज जॉजज के, उपाध्यक्ष, एवं सुश्री पदमावती यस, लेखा सदस्य के समक्ष BEFORE SHRI GEORGE GEORGE K, VICE PRESIDENTAND MS. PADMAVATHY.S, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.2663/Chny/2025 धििाजरण वर्ज /Assessment Year: 2021-22 The India Cements Ltd., The Dy. Commissioner of Income No.827, Anna Salai, Vs. Tax, Anna Road H.O., Corporate Circle-1(1), Chennai – 600 002. Chennai. PAN: AAACT 1728P (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Mr. Vikram Vijayaraghavan, Advocate अपीलार्थी की ओर से/ Appellant by : प्र…

THE INDIA CEMENTS LIMITED,CHENNAI vs. DCIT CORPORATE CIRCLE 2(1) CHENNAI, CHENNAI

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

ITA 2174/CHNY/2024[2017-18]Status: DisposedITAT Chennai02 Jan 2026AY 2017-18

Section 10(39)Section 115JSection 14A

…ITA No.2174/Chny/2024 (AY 2017-18) M/s. The India Cements Ltd. :: 2 :: 2. Ground No. 1 of the appeal is general in nature which doesn't require any adjudication and is therefore dismissed. 3. Ground No.2 raised by the assessee relates to the disallowance of ₹1,07,44,451/- made by the AO u/s 14A of the Income Tax Act 1961 (herein after the Act) in terms of Rule 8D of the Income Tax Rules 1962 (herein after the Rules). Briefly stated, the AO had observed from the balance-sheet that the assessee held substantial investments which were capable of yielding tax-free income and therefore, according to him, the expenditu…

JOINT COMMISSIONER OF INCOME-TAX (OSD), CORPORATE CIRCLE-1, COIMBATORE, COIMBATORE vs. M/S PREMIER MILLS PRIVATE LIMITED, COIMBATORE

In the result, the appeal of Revenue vide ITA No

ITA 514/CHNY/2025[2018]Status: DisposedITAT Chennai21 Nov 2025

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.499/Chny/2025, Assessment Years: 2017-18 आयकर अपील सं./Ita No.514/Chny/2025, Assessment Years: 2018-19

For Appellant: Mr.Vikram Vijayaraghavan, AdvocateFor Respondent: Mr.ARV Sreenivasan, CIT

Section 80I

…आयकर अपीलीय अधिकरण, ’डी’ न्यायपीठ, चेन्नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH: CHENNAI श्री एबी टी. वर्की, न्यायिर्क सदस्य एवं श्री अयिताभ शुक्ला, लेखा सदस्य के समक्ष BEFORE SHRI ABY T VARKEY, JUDICIAL MEMBER AND SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.499/Chny/2025, Assessment Years: 2017-18 आयकर अपील सं./ITA No.514/Chny/2025, Assessment Years: 2018-19 Joint Commissioner of Income M/s.Premier Mills Pvt. Ltd, Tax(OSD), RR Landmark, 1E-1, Nava India Road, Corporate Circle-1, Coimbatore, Coimbatore. Tamil Nadu-641 028. [PAN: AABCP5924C] (प्रत्यर्थी/Respondent) (अपीलार्थी/Appellant)…

JOINT COMMISSIONER OF INCOME-TAX (OSD), CORPORATE CIRCLE-1, COIMBATORE, COIMBATORE vs. M/S PREMIER MILLS PRIVATE LIMITED, COIMBATORE

In the result, the appeal of Revenue vide ITA No

ITA 499/CHNY/2025[2017]Status: DisposedITAT Chennai21 Nov 2025

For Appellant: Mr.Vikram Vijayaraghavan, AdvocateFor Respondent: Mr.ARV Sreenivasan, CIT

Section 80I

DCIT-CC-8(4), MUMBAI, MUMBAI vs. SAVITA OIL TECHNOLOGIES LIMITED, MUMBAI

In the result, appeal of the Revenue is dismissed

ITA 4292/MUM/2025[2018-19]Status: DisposedITAT Mumbai10 Nov 2025AY 2018-19

Bench: Shri Saktijit Dey, Hon'Ble & Shri Girish Agrawalassessment Year: 2018-19 Dcit-Cc-8(4), Savita Oil Technologies Limited Mumbai 66-67 Nariman Bhavan, Vs. Nariman Point, Mumbai 400021, Pan: Aaacs7934A (Appellant) (Respondent) Present For: Assessee : Shri Yogesh Thar & Shri Chaitanya Joshi, Cas Revenue : Shri Rajesh Kumar Yadav, Cit Dr Date Of Hearing : 13.08.2025 Date Of Pronouncement : 10.11.2025 O R D E R Per Girish Agrawal: This Appeal Filed By The Revenue Is Against The Order Of Cit (A) 50, Mumbai, Vide Order No. Itba/Apl/S/250/2025-26/1075632908(1), Dated 15.04.2025 Passed Against The Assessment Order By Acit,Cc- 8(4), Mumbai, U/S.143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As The “Act”), Dated 24.08.2021 For Ay 2018-19. 2. Grounds Taken By The Revenue Are Reproduced As Under: “1. Whether On The Facts & In The Circumstances Of The Case, The Hon'Ble Cit(A) Was Justified In Law In Allowing Deduction Under Section 80-Ia(4) Of The Income- Tax Act, 1961, Without Adjusting The Losses Incurred By The Eligible Undertaking Prior To The Initial Assessment Year, Contrary To The Provisions Of Section 80-Ia(S)? 2. Whether The Hon'Ble Cit(A) Was Correct In Law In Relying Upon Cbdt Circular No. 1/2016 & The Decision Of The Hon'Ble Madras High Court In The Case Of Vcllayudhaswamy Spinning Mills Pvt. Ltd. (340 Itr 477) When There Exist Contrary Binding Judicial Precedents Mandating That Losses Of Earlier Years, Even

For Appellant: Shri Yogesh Thar and Shri Chaitanya Joshi, CAsFor Respondent: Shri Rajesh Kumar Yadav, CIT DR

Section 143(3)Section 37Section 80Section 80GSection 80I

…sessment year, contrary to the provisions of section 80-IA(S)? 2. Whether the Hon'ble CIT(A) was correct in law in relying upon CBDT Circular No. 1/2016 and the decision of the Hon'ble Madras High Court in the case of Vcllayudhaswamy Spinning Mills Pvt. Ltd. (340 ITR 477) when there exist contrary binding judicial precedents mandating that losses of earlier years, even 2 Savita Oil Technologies Ltd. AY 2018-19 if already set off against other income, must be notionally considered while computing eligible profits for deduction under section 80-IA 3. Whether the Hon'ble CIT(A) erred in law in ignoring the decisio…

BHAVANI INDUSTRIES INDIA LLP,RAJKOT vs. ACIT, CIRCLE-2, RAJKOT, RAJKOT

In the result, summarised and concise ground No

ITA 256/RJT/2024[2013-14]Status: DisposedITAT Rajkot27 Aug 2025AY 2013-14

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./ Ita No. 247 To 250 & 260/Rjt/2024 "नधा"रण वष"/ Assessment Years: 2012-13, 2013-14, 2017-18 2018-19 & 2010-11 Bhawani Industries India Llp Assistant Commissioner Of बनाम/ Income-Tax, Cicle-2(1), Rajkot, C/1-B, 236/3 Gidc, Aji Industrial Room No.311, 3Rd Floor, Aaykar Estate, Rajkot-36 003 Vs. Bhawan, Race Course Ring Road, Rajkot-360 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacfb 8046 R (अपीलाथ"/Assessee) (""यथ"/Respondent) आयकर अपील सं/.Ita No.254 To 256/Rjt/2024 "नधा"रण वष"/ Assessment Years: 2010-11, 2012-13 & 2013-14 Bhawani Industries India Llp Assistant Commissioner Of Income- C/1-B, 236/3 Gidc, Aji बनाम/ Tax, Cicle-2(1), Rajkot, Room No.311, Industrial Estate, Rajkot-36 3Rd Floor, Aaykar Bhawan, Race Vs. 003 Course Ring Road, Rajkot-360 001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacfb 8046 R (अपीलाथ"/Assessee) (""यथ"/Respondent) "नधा"रती क" ओर से/Assessee By : Shri Mehul Ranpura, Ld.Ar राज"व क" ओर से/Revenue By : Shri Sanjay Punglia, Ld. Cit-Dr & Shri Abhimanyu Singh Yadav, Sr-Dr

For Appellant: Shri Mehul Ranpura, ld.ARFor Respondent: Shri Sanjay Punglia, Ld. CIT-DR &

Section 143(3)Section 250Section 80Section 80I

…computing deduction u/s 801A. Hence, above named assessee have not claimed deduction u/s 80 IA for various wind mill units during the year under consideration.As held in judgment of Madras High Court in the case of Velayudhswami Spg. Mills v Asst. CIT (2012) 340 ITR 477,It was held that losses already set off pertaining to period earlier to initial assessment year cannot again brought back notionally while computing deduction u/s. 801A. Assessee has claimed deduction u/s. 801A, relying on judgment of Madras High Court in the case of Velayudhswami Spg. Mills v Asst. CIT (2012) 340 ITR477 and opinion on the basis…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(1), RAJKOT, RAJKOT vs. BHAWANI INDUSTRIES INDIA LLP, RAJKOT

In the result, summarised and concise ground No

ITA 249/RJT/2024[2017-18]Status: DisposedITAT Rajkot27 Aug 2025AY 2017-18

For Appellant: Shri Mehul Ranpura, ld.ARFor Respondent: Shri Sanjay Punglia, Ld. CIT-DR &

Section 143(3)Section 250Section 80Section 80I

ADDL CIT LTU, MUMBAI vs. BAJAJ HOLDING & INVESTMENT LTD ( FOREMERLY KNOWN AS BAJAJ AUTO LTD), MUMBAI

In the result, appeal filed by the revenue is dismissed and appeal filed by the assessee stands partly allowed as indicated hereinabove

ITA 5510/MUM/2012[2007-08]Status: DisposedITAT Mumbai26 Aug 2025AY 2007-08

Bench: Smt. Beena Pillai () & Shri Renu Jauhri ()

Section 14ASection 80

…eliance on the decision of Hon’ble Bombay High Court in case of PCIT V. M/s. Aker Power Gas Pvt. Ltd. in ITA No. 1276/2017 vide order dated 20.01.2020 and decision of Hon’ble Madras High Court in case of Velayudhaswamy Spinning Mills (P) Ltd (Mad) reported in 340 ITR 477. 14.2. The Ld. Sr. Counsel submitted that, the assessee already set off the unabsorbed depreciation in the earlier years against profits from other business, and therefore it is not available to be set off now against the profits of the eligible unit for the purposes of computing deduction u/s. 80IA of the Act. He placed reliance on the note plac…

ASSISTANT COMMISSIONER OF INCOME TAX, MADURAI vs. RAMCO INDUSTRIES LIMITED , CHENNAI

In the result, appeal filed by the Revenue is dismissed

ITA 3045/CHNY/2024[2010-11]Status: DisposedITAT Chennai23 Apr 2025AY 2010-11

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

For Respondent: Mr.S. Muralidhar, FCA

Section 142(1)Section 143(3)Section 263Section 80Section 801A(7)Section 80I

…आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH: CHENNAI "ी एबी टी. वक", "ाियक सद" एवं एवं एवं एवं "ी अिमताभ शु"ा, लेखा सद" के सम" BEFORE SHRI ABY T. VARKEY, JUDICIAL MEMBER AND SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.3045/Chny/2024 िनधा"रण वष"/Assessment Year: 2010-11 v. The ACIT, M/s. Ramco Industries Ltd., Corporate Circle, 98A, Auras Corporate Centre, Madurai. Dr. Radhakrishnan Road, Mylapore HO, Mylapore, Chennai-600 004. [PAN: AAACR 5284 J] (अपीलाथ"/Appellant) (""यथ"/Respondent) : अपीलाथ" क" ओर से/ Appellant by Mr.Shivanand K. Kalakeri, CIT ""यथ"…

THE ACIT, CIRCLE-1(1)(1), VADODARA vs. GUJARAT FLUOROCHEMICALS LTD., VADODARA

In the result, the appeal filed by the Revenue is hereby dismissed

ITA 169/AHD/2023[2010-11]Status: DisposedITAT Ahmedabad07 Mar 2025AY 2010-11

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 143(3)Section 147Section 80Section 801ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Smt. Annapurna Gupta, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member Assessment Year. 2010-11 ACIT, Gujarat Fluorochemicals Circle-1(1)(1), Ltd. Vadodara Vs 2nd Floor, ABS Tower, Old Padra Road, Race Course, Vadodara (Appellant) 390007, Gujarat PAN: AAACG6725H (Respondent) Revenue Represented: Shri Prathvi Raj Meena,CIT-DR Assessee Represented: Shri S.N. Soparkar, Sr. Adv. & Shri Parin Shah, ARs. Date of hearing : 07-01-2025 Date of pronouncement : 07-03-2025 आदेश/ORDER PER : T.R. SENTHIL KUMAR, JUDICIAL MEMBER:- This app…

BAJAJ HOLDINGS & INVESTMENT LTD ( FORMERLY BAJAJ AUTO LTD),MUMBAI vs. ACIT LTU, MUMBAI

ITA 5299/MUM/2010[2006-07]Status: DisposedITAT Mumbai17 Feb 2025AY 2006-07

Section 143(3)

…d during the course of \nhearing on this issue. \n \n12. 5. During the course of hearing heavy reliance was placed on behalf \nof the Assessee on the decision of Hon’ble Madras High Court in \nthe case of M/s Velayudhaswamy Spinning Mills (P) Ltd. vs ACIT \n(340 ITR 477) (Madras High Court) which was confirmed by the \nHon'ble Supreme Court ((2016) 244 Taxman 58 (SC). On perusal \nof the aforesaid judgment of the Hon’ble Madras High Court we \nfind that, inter alia, following substantial questions of law was \nraised for consideration: \n \n“(c) Whether, on the facts and in the circumstances of the case, \nthe T…

BAJAJ HOLDINGS & INVESTMENTS LTD ( FORMERLY KNOWN AS BAJAJ AUTO LTD),MUMBAI vs. ADDL CIT RG 3(1), MUMBAI

The appeals are partly allowed

ITA 6838/MUM/2008[2004-2005]Status: DisposedITAT Mumbai17 Feb 2025AY 2004-2005

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Ms. Vasanti PatelFor Respondent: Shri Ankush Kapoor

Section 143(3)

…recedents cited during the course of hearing on this issue. 12.5. During the course of hearing heavy reliance was placed on behalf of the Assessee on the decision of Hon’ble Madras High Court in the case of M/s Velayudhaswamy Spinning Mills (P) Ltd. vs ACIT (340 ITR 477) (Madras High Court) which was confirmed by the Hon'ble Supreme Court ((2016) 244 Taxman 58 (SC). On perusal of the aforesaid judgment of the Hon’ble Madras High Court we find that, inter alia, following substantial questions of law was raised for consideration: “(c) Whether, on the facts and in the circumstances of the case, the Tribunal is rig…

TITAN COMPANY LIMITED,HOSUR vs. ASSISTANT COMMISSIONER OF INCOME TAX - LTU 2 (IC), CHENNAI

In the result the appeal raised by the assessee is partly allowed

ITA 1742/CHNY/2024[2011- 12]Status: DisposedITAT Chennai04 Dec 2024

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1742/Chny/2024 निर्धारण वर्ा /Assessment Years: 2011-12 Titan Company Limited, Assistant Commissioner Of No.3, Sipcot Industrial Complex, Income Tax, Hosur, Krishnagiri, Ltu-2, Tamil Nadu-635126 Chennai [Pan: Aaact5131A] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) : Shri Abhay Kumar, C.A अपीलार्थी की ओर से/ Assessee By : Ms.Komali Krishna, Cit प्रत्यर्थी की ओर से /Revenue By सुनवाई की तारीख/Date Of Hearing : 10.09.2024 घोषणा की तारीख /Date Of Pronouncement : 04.12.2024

For Appellant: Ms.Komali Krishna, CIT

Section 147Section 250Section 80Section 80C(2)(a)Section 80I

…ppellant in its submissions filed before the AO, as reproduced in the impugned reassessment order, had also placed reliance upon the judgment given by the Hon'ble Jurisdictional Madras High Court in the case of Velayudhaswamy Spinning Mills (P) Ltd. vs. ACIT (340 ITR 477) dated 11.03.2010. Subsequently, SLP against the above judgment of the Hon'ble Madras High Court was also dismissed by the Hon'ble Supreme Court on 05.09.2016 (76 taxmann.com 176). The said judgment is found followed by Hon'ble Madras High Court in its many subsequent decisions as well on this issue. 1.4.1 It is however, noted that in this judgme…

M/S GIRIRAJ ENTERPRISES,PUNE vs. DCIT, CENTRAL CIRCLE 1(1), PUNE, PUNE

In the result, the appeal filed by the assessee is allowed and the appeals filed by the Revenue are dismissed

ITA 427/PUN/2024[2015-16]Status: DisposedITAT Pune17 Oct 2024AY 2015-16

Bench: Shri R. K. Panda & Ms Astha Chandraassessment Year : 2015-16

For Appellant: Shri Nikhil S PathakFor Respondent: Shri Amol Khairnar, CIT-DR

Section 10(35)Section 132Section 133ASection 143(1)Section 143(2)Section 153A

…cision of Coordinate Bench of the Tribunal in the case of Poonawala Estate Stud & Agro Farm Pvt. Ltd. reported in 136 TTJ (Pune) 236 and also following the judgment of Hon'ble Madras High Court in the case of Velayudhaswamy Spinning Mills Pvt. Ltd reported in 340 ITR 477. As such, Ld. DR could not bring any contrary decision on the issue under consideration. Thus, the initial assessment year constitutes the assessment year in which the deduction u/s.80IA of the Act is first claimed by the assessee after exercising his option as per the provisions of Section 80IA(2) of the Act. Therefore, we are of the opinion tha…

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 4(1)(1), AHMEDABAD, AHMEDABAD vs. SHILP GRAVURES LIMITED, AHMEDABAD

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

ITA 798/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad23 Aug 2024AY 2017-18

Bench: Income Tax Appellate Tribunal, Ahmedabad Division Bench, Ahmedabad Has Arisen

For Appellant: Shri S N Divatia, AdvocateFor Respondent: Shri Santosh Kumar, Sr.DR

Section 142(1)Section 143Section 143(1)Section 143(2)Section 143(3)Section 250Section 8Section 80I

…for assessment year 2010-11 to 2013-14, wherein the deductions u/s 80IA was allowed by ITAT to the assessee. The Ld.CIT(A), considered the decision of Hon’ble Madras High Court in the case of Velayudhaswamy Spinning Mills Pvt. Ltd. V. ACIT reported in (2012) 340 ITR 477(Mad. HC), and granted relief to the assessee , and also after considering that claim of deduction u/s 80IA was allowed by the ITAT in the preceding years , as detailed hereunder:- “5.5 Perusal of the submission of the assessee revealed that similar issue has been decided by the Hon’ble Ahmedabad Tribunal in favour of the assesee and the details…

ITO, NEW DELHI vs. M/S ANSAL HOUSING & CONSTRUCTION LTD., NEW DELHI

In the result, the cross-objection filed by the assessee is dismissed

ITA 2731/DEL/2010[2007-08]Status: DisposedITAT Delhi26 Jul 2024AY 2007-08

Bench: Shri G.S.Pannu & Shri Kul Bharat[Assessment Year : 2007-08] Dcit, Vs Ansal Housing & Construction Ltd., Central Circle-20, Ugf-15, Indraprastha Building, 21, New Delhi. Barakhamba Road, New Delhi. Pan-Aaaca0377R Appellant Respondent

Section 143(3)Section 14ASection 80Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “A” BENCH: NEW DELHI BEFORE SHRI G.S.PANNU, VICE PRESIDENT & SHRI KUL BHARAT, JUDICIAL MEMBER [Assessment Year : 2007-08] DCIT, vs Ansal Housing & Construction Ltd., Central Circle-20, UGF-15, Indraprastha Building, 21, New Delhi. Barakhamba Road, New Delhi. PAN-AAACA0377R APPELLANT RESPONDENT C.O.No.222/Del/2010 [In ITA No.2731/Del/2010] [Assessment Year : 2007-08] Ansal Housing & Construction Ltd., vs DCIT, UGF-15, Indraprastha Building, 21, Central Circle-20, Barakhamba Road, New Delhi. New Delhi. PAN-AAACA0377R APPELLANT RESPONDENT Appellant by Ms. Kirti Sankratyaya…

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, NAGPUR vs. SMT. ANJU AJAY SARAF, NAGPUR

In the result, Revenue’s appeal for the A

ITA 32/NAG/2020[2014-15]Status: DisposedITAT Nagpur28 May 2024AY 2014-15

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Sudesh BanthiaFor Respondent: Shri Kailash C. Kanojiya

Section 139Section 139(5)Section 143(2)Section 143(3)Section 148Section 5Section 80I

…no need for notionally carrying forward and setting off of the same depreciation and loss in computing the quantum of deduction available u/s 80IA". 4.6 The Hon'ble High Court of Madras in the case of Velayudhaswamy Spg. Mills (P.) Ltd. vs. Asstt. CIT [2012] 340 ITR 477/21 taxmann.com 95 (Mad.) has held that the losses in the year earlier to initial assessment year which were already absorbed against the profit of other businesses cannot be notionally brought forward and set off against the profits of eligible business as no such mandate was provided in Section 80IA(5). The Hon'ble Court has deciding the issue h…

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, NAGPUR vs. SMT. ANJU AJAY SARAF, NAGPUR

In the result, Revenue’s appeal for the A

ITA 30/NAG/2018[2012-13]Status: DisposedITAT Nagpur28 May 2024AY 2012-13

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Sudesh BanthiaFor Respondent: Shri Kailash C. Kanojiya

Section 139Section 139(5)Section 143(2)Section 143(3)Section 148Section 5Section 80I

INCOME TAX OFFICER, CORPORATE WARD-6(1), CHENNAI vs. SJLT TEXTILES PVT. LTD., CHENNAI

In the result, all the three appeals filed by the Revenue are dismissed

ITA 688/CHNY/2023[2018-19]Status: DisposedITAT Chennai17 May 2024AY 2018-19

Bench: Shri S.S. Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./I.T.A. Nos.686, 687 & 688/Chny/2023 िनधा"रण वष"/Assessment Years: 2015-16, 2017-18 & 2018-19 The Income Tax Officer, Vs. Sjlt Textiles, 2E, 2Nd Floor, Prince Arcade Corporate Ward 6(1), Chennai 600 034. Cathedral Road, Chennai 600 086. [Pan: Aaics2028M] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri Ar. V. Sreenivasan, Addl. Cit ""थ" की ओर से/Respondent By : Ms. Sandhyaarthi, C.A. सुनवाई की तारीख/ Date Of Hearing : 06.05.2024 घोषणा की तारीख /Date Of Pronouncement : 17.05.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: All The Above Three Appeals Are Filed By The Revenue Against Separate Orders Dated 30.03.2023 & 31.03.2023 Passed By The Ld. Cit(A), Nfac, Delhi For The Assessment Years 2015-16 & 2017-18 & 2018-19 Respectively.

For Appellant: Shri AR. V. Sreenivasan, Addl. CITFor Respondent: Ms. Sandhyaarthi, C.A

Section 80I

…आयकर अपीलीय अिधकरण, ’ए’ "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एसएस िव"ने" रिव, "ाियक सद" एवं "ी अिमताभ शु"ा, लेखा सद" के सम" Before Shri S.S. Viswanethra Ravi, Judicial Member & Shri Amitabh Shukla, Accountant Member आयकर अपील सं./I.T.A. Nos.686, 687 & 688/Chny/2023 िनधा"रण वष"/Assessment Years: 2015-16, 2017-18 & 2018-19 The Income Tax Officer, Vs. SJLT Textiles, 2E, 2nd Floor, Prince Arcade Corporate Ward 6(1), Chennai 600 034. Cathedral Road, Chennai 600 086. [PAN: AAICS2028M] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant by : Shri AR. V. Sreenivasan, Addl…

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