Vijaya Bank v. CIT

323 ITR 166Supreme Court of India2010#188 most cited

What is Vijaya Bank v. CIT authority for?

A provision for bad and doubtful debts debited to the profit and loss account and reduced from advances on the balance sheet constitutes a write-off for deduction purposes. This is true even if individual debtor accounts are not closed.

392

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2011 to 2026.

Also referred to as

Vijaya Bank v. CIT · section 36(1)(vii) · write off bad debts · provision for doubtful debts · deduction for bad debts · profit and loss account · balance sheet · advances · loans

Also reported as

190 Taxmann 257231 CTR 209

Sections most often in play

Section 36(1)(vii)Section 143(3)Section 14ASection 115JBSection 37(1)Section 36(1)(viia)Section 32(1)(iia)Section 10(34)
Read the full judgment

Issues it is cited on

section 36(2)(v)section 41(4)section 36(1)(viia)section 36(1)(vii)section 36(2)section 36(1)(viii)section 115jb(2)additional depreciationsection 10(34)book profitssection 41section 115j

Judgments citing Vijaya Bank v. CIT

ACIT 11(1), Mumbai vs. Maya Entertainment Ltd, Mumbai

In the result, appeal of the assessee bearing ITA No

ITA 1157/MUM/2013[2009-10]Status: DisposedITAT Mumbai28 Feb 2017AY 2009-10

Bench: Shri Mahavir Singh, Jm & Shri Rajesh Kumar, Am श्री महाविर स िंग, न्याययक दस्य एििं श्री राजेश कुमार, ऱेखा दस्य के मक्ष Asstt. Commissioner Of M/S Maya Entertainment Ltd Income-Tax-11(1), 23 Shah Indl Estate, फनधभ/ Room No.467, 4Th Floor, Off Veera Desai Rd, Vs. Andheri (W) Aayakar Bhavan, M K Marg, Mumbai-400053 Mumbai-400020 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) Asstt. Commissioner Of Income- M/S Maya Entertainment Ltd, फनधभ/ Mumbai-400053 Tax-11(1), Vs. Mumbai-400020 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) M/S Maya Entertainment Ltd, Asstt. Commissioner Of फनधभ/ Mumbai-400053 Income-Tax-11(1), Vs. Mumbai-400020 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) Asstt. Commissioner Of Income- M/S Maya Entertainment Ltd, फनधभ/ Mumbai-400053 Tax-11(1), Vs. Mumbai-400020 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent)

For Appellant: Shri S C TiwariFor Respondent: Shri Suman Kumar
Section 133(6)

…der the normal provisions of the Act, should have allowed deduction of provision for bad and doubtful debts, as provided in section 36(l)(vii) of the Act, in the light of the decision of Honourable Supreme Court in the case of Vijaya Bank V/so CIT reported in 323 ITR 166 which is relied upon by the appellant in this appeal. The said deduction for provision for doubtful debts remained to be claimed by the appellant in the return of income on account of bonafide ignorance of law. 20. The ld. AR submitted before us that the additional ground raised qua deduction in respect of Rs.85,98,557/- vide application dated 7…

Pr. Commissioner of Income Tax- 4 vs. Holtech Consulting Pvt. Ltd

ITA/163/2017HC Delhi20 Feb 2017

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE NAJMI WAZIRI

Section 14ASection 260ASection 36(1)

…$~43 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 163/2017 PR. COMMISSIONER OF INCOME TAX- 4 ..... Appellant Through: Mr. Zoheb Hossain, Advocate. Versus HOLTECH CONSULTING PVT. LTD. ..... Respondent Through: Ms. Monika Ghai, Advocate. CORAM: HON'BLE MR. JUSTICE S. RAVINDRA BHAT HON'BLE MR. JUSTICE NAJMI WAZIRI O R D E R % 20.02.2017 1. The Revenue in its appeal under Section 260A of the Income Tax Act, 1961 (hereinafter to be referred as ‘the Act’) urges four questions of law. 2. It is not in dispute that two questions i.e. the depreciation claim to the extent of 60% on purchase of computer peripherals and th…

M/S. Swaro vs. Ki India Private Limited, New Delhi

In the result, the appeal of the assessee is partly allowed and that of

ITA 5621/DEL/2014[2004-05]Status: DisposedITAT Delhi10 Feb 2017AY 2004-05

Bench: Shri R.S. Syal & Shri Kuldip Singhassessment Year : 2004-05

For Appellant: Shri Manoj PardasaniFor Respondent: Shri Amrendra Kumar, CIT, DR

…ssessee can claim deduction only at the time and to the extent of the amount, which is actually written off in the books of account of the debtor. 10.6. The ld. AR relied on the judgment of the Hon’ble Supreme Court in the case of Vijaya Bank vs. CIT (2010) 323 ITR 166 to bolster for the claim of deduction. This decision, in our considered opinion, is not relevant now. The Hon’ble Supreme Court was dealing with A.Ys. 1993-94 & 1994-95 and it specifically noticed that : `we may reiterate that it is not in dispute that s. 36(1)(vii) of 1961 Act applies both to banking and non-banking businesses’. The statutory…

DCIT, New Delhi vs. M/S. Swaroski India Pvt. Ltd., New Delhi

In the result, the appeal of the assessee is partly allowed and that of

ITA 5496/DEL/2014[2004-05]Status: DisposedITAT Delhi10 Feb 2017AY 2004-05

Bench: Shri R.S. Syal & Shri Kuldip Singhassessment Year : 2004-05

For Appellant: Shri Manoj PardasaniFor Respondent: Shri Amrendra Kumar, CIT, DR

…ssessee can claim deduction only at the time and to the extent of the amount, which is actually written off in the books of account of the debtor. 10.6. The ld. AR relied on the judgment of the Hon’ble Supreme Court in the case of Vijaya Bank vs. CIT (2010) 323 ITR 166 to bolster for the claim of deduction. This decision, in our considered opinion, is not relevant now. The Hon’ble Supreme Court was dealing with A.Ys. 1993-94 & 1994-95 and it specifically noticed that : `we may reiterate that it is not in dispute that s. 36(1)(vii) of 1961 Act applies both to banking and non-banking businesses’. The statutory…

M/S Cummins Technologies India Private Limited, Dewas vs. The ACIT Circle 1(1), Ujjain

In the result, ITA No. 258/Ind/2015 is allowed and ITA

ITA 232/IND/2016[2010-11]Status: DisposedITAT Indore19 Jan 2017AY 2010-11

Bench: Shri D.T. Garasia & Shri O.P. Meenaआ.अ.सं./I.T.A. Nos.258/Ind/2015 : A.Y.2007-08 आ.अ.सं./I.T.A. Nos.232/Ind/2016 : A.Y.2010-11 M/S Cummins Technologies India Pvt.Ltd Dewas Pan – Aabct – 2018B :: अपीलाथ" /Appellant Vs Acit 1(1) :: ""यथ" /Respondent Ujjain Shri Girish Agrawal "नधा"रती क" ओर से/Assessee By Shri K.G. Goyal राज"व क" ओर से/Revenue By 10.1.2017 सुनवाई क" तार"ख Date Of Hearing 19.1.2017 उ"घोषणा क" तार"ख Date Of Pronouncement

Section 143

…ITA Nos. 258 & 232/Ind/2016 Cummins Technoligies आयकर अपील"य अ"धकरण, इ"दौर "यायपीठ, इ"दौर IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE "ी डी.ट".गरा"सया, "या"यक सद"य तथा "ी ओ.पी.मीना, लेखा सद"य के सम" BEFORE SHRI D.T. GARASIA, JUDICIAL MEMBER AND SHRI O.P. MEENA, ACCOUNTANT MEMBER आ.अ.सं./I.T.A. Nos.258/Ind/2015 : A.Y.2007-08 आ.अ.सं./I.T.A. Nos.232/Ind/2016 : A.Y.2010-11 M/s Cummins Technologies India Pvt.Ltd Dewas PAN – AABCT – 2018B :: अपीलाथ" /Appellant Vs ACIT 1(1) :: ""यथ" /Respondent Ujjain Shri Girish Agrawal "नधा"रती क" ओर से/Assessee by Shri K.G. Goyal राज"व क" ओर से/Revenue by 10.1.2017 स…

Merisant India Pvt. Ltd., Mumbai vs. ITO - 9 (2) (3), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 2951/MUM/2016[2011-12]Status: DisposedITAT Mumbai13 Jan 2017AY 2011-12

Bench: Shri G.S. Pannu: (A.Y : 2011-12) M/S. Merisant India Pvt. Ltd., Vs. Ito-9(2)(3), Mumbai C/O. Hasmukh Shah & Co., (Respondent) 409-410, Dalamal Chambers, New Marine Line, Mumbai 400 020 (Appellant) Pan : Aaccm3132E

For Appellant: Sanjay R. ParikhFor Respondent: Beena Santosh
Section 143(3)Section 36(1)(vii)Section 40

…sheet and, therefore, such action is to be understood as actual write-off of bad debts. In support of said proposition, reliance was placed on the judgments of Hon'ble Supreme Court in the case of TRF Limited Vs. CIT, 323 ITR 397 (SC) and Vijaya Bank vs. CIT, 323 ITR 166 (SC). 5. On the other hand, the ld. DR reiterated the stand of the lower authorities that the claim was based on a mere Provision for doubtful debts and was not an actual write-off of bad debts, which was a requirement of Sec. 36(1)(vii) of the Act. 6. I have carefully considered the rival submissions. Ostensibly, Sec. 36(1)(vii) of the Act dea…

DCIT Cir 3(1), Mumbai vs. Icici Bank Ltd, Mumbai

In the result, Revenue’s appeal and assessee’s appeal are partly allowed for statistical purposes

ITA 5276/MUM/2013[2005-06]Status: DisposedITAT Mumbai03 Jan 2017AY 2005-06

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

For Appellant: Ms. Aarti VissanjiFor Respondent: Shri B. Pruseth
Section 10Section 14A

…provisions and the assessee is no more required to establish that the debt has actually become irrecoverable. The Hon'ble Supreme Court in TRF Ltd. v/s CIT, [2010] 230 ITR 14 (SC), has expressed this view. Further, in case of Vijaya Bank Ltd. v/s CIT, [2010] 323 ITR 166 (SC), the Hon'ble Apex Court held that mere debit to the Profit & Loss account is not sufficient to claim write–off as the assessee has to simultaneously reduce the amount from loans and advances or debtors on assets side of the Balance Sheet to claim right–off. The Hon'ble Supreme Court observed, closing down individual account of each debtor in…

City Union Bank Limited, Kumbakonam vs. JCIT, Kumbakonam

In the result, the appeals filed for the assessment year 2007-08 filed by

ITA 2035/CHNY/2014[2008-09]Status: DisposedITAT Chennai28 Dec 2016AY 2008-09

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri V. Vivekanandan, CIT
Section 143(1)Section 143(2)Section 143(3)Section 148Section 194JSection 195JSection 40A

…bt and being written off as irrecoverable in the accounts of the assessee for the previous year. 91. A number of cases decided by the Hon'ble High Courts and also by the Apex Court are cited / referred to in the above judgement. Cases of Vijaya Bank Vs. CIT (323 ITR 166) 2010-TIOL-31-SC-IT and Southern Technologies Vs JCIT (320 ITR 577) 2010-TIOL-01-SC-IT are referred to therein. Accounting standard AS29 and also the effect of Board's Circular's have also been discussed at length in the order along with the subject of interpretation and construction of the relevant sections. Thus, the judgement is a comprehensiv…

City Union Bank Limited, Kumbakonam vs. JCIT, Kumbakonam

In the result, the appeals filed for the assessment year 2007-08 filed by

ITA 2034/CHNY/2014[2007-08]Status: DisposedITAT Chennai28 Dec 2016AY 2007-08

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri V. Vivekanandan, CIT
Section 143(1)Section 143(2)Section 143(3)Section 148Section 194JSection 195JSection 40A

…bt and being written off as irrecoverable in the accounts of the assessee for the previous year. 91. A number of cases decided by the Hon'ble High Courts and also by the Apex Court are cited / referred to in the above judgement. Cases of Vijaya Bank Vs. CIT (323 ITR 166) 2010-TIOL-31-SC-IT and Southern Technologies Vs JCIT (320 ITR 577) 2010-TIOL-01-SC-IT are referred to therein. Accounting standard AS29 and also the effect of Board's Circular's have also been discussed at length in the order along with the subject of interpretation and construction of the relevant sections. Thus, the judgement is a comprehensiv…

ACIT, Kumbakonam vs. City Union Bank Limited, Kumbakonam

In the result, the appeals filed for the assessment year 2007-08 filed by

ITA 1804/CHNY/2014[2010-11]Status: DisposedITAT Chennai28 Dec 2016AY 2010-11

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri V. Vivekanandan, CIT
Section 143(1)Section 143(2)Section 143(3)Section 148Section 194JSection 195JSection 40A

…bt and being written off as irrecoverable in the accounts of the assessee for the previous year. 91. A number of cases decided by the Hon'ble High Courts and also by the Apex Court are cited / referred to in the above judgement. Cases of Vijaya Bank Vs. CIT (323 ITR 166) 2010-TIOL-31-SC-IT and Southern Technologies Vs JCIT (320 ITR 577) 2010-TIOL-01-SC-IT are referred to therein. Accounting standard AS29 and also the effect of Board's Circular's have also been discussed at length in the order along with the subject of interpretation and construction of the relevant sections. Thus, the judgement is a comprehensiv…

ACIT, Kumbakonam vs. City Union Bank Limited, Kumbakonam

In the result, the appeals filed for the assessment year 2007-08 filed by

ITA 1803/CHNY/2014[2009-10]Status: DisposedITAT Chennai28 Dec 2016AY 2009-10

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri V. Vivekanandan, CIT
Section 143(1)Section 143(2)Section 143(3)Section 148Section 194JSection 195JSection 40A

…bt and being written off as irrecoverable in the accounts of the assessee for the previous year. 91. A number of cases decided by the Hon'ble High Courts and also by the Apex Court are cited / referred to in the above judgement. Cases of Vijaya Bank Vs. CIT (323 ITR 166) 2010-TIOL-31-SC-IT and Southern Technologies Vs JCIT (320 ITR 577) 2010-TIOL-01-SC-IT are referred to therein. Accounting standard AS29 and also the effect of Board's Circular's have also been discussed at length in the order along with the subject of interpretation and construction of the relevant sections. Thus, the judgement is a comprehensiv…

ACIT, Kumbakonam vs. City Union Bank Limited, Kumbakonam

In the result, the appeals filed for the assessment year 2007-08 filed by

ITA 1802/CHNY/2014[2008-09]Status: DisposedITAT Chennai28 Dec 2016AY 2008-09

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri V. Vivekanandan, CIT
Section 143(1)Section 143(2)Section 143(3)Section 148Section 194JSection 195JSection 40A

…bt and being written off as irrecoverable in the accounts of the assessee for the previous year. 91. A number of cases decided by the Hon'ble High Courts and also by the Apex Court are cited / referred to in the above judgement. Cases of Vijaya Bank Vs. CIT (323 ITR 166) 2010-TIOL-31-SC-IT and Southern Technologies Vs JCIT (320 ITR 577) 2010-TIOL-01-SC-IT are referred to therein. Accounting standard AS29 and also the effect of Board's Circular's have also been discussed at length in the order along with the subject of interpretation and construction of the relevant sections. Thus, the judgement is a comprehensiv…

ACIT, Kumbakonam vs. City Union Bank Limited, Kumbakonam

In the result, the appeals filed for the assessment year 2007-08 filed by

ITA 1801/CHNY/2014[2008-09]Status: DisposedITAT Chennai28 Dec 2016AY 2008-09

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri V. Vivekanandan, CIT
Section 143(1)Section 143(2)Section 143(3)Section 148Section 194JSection 195JSection 40A

…bt and being written off as irrecoverable in the accounts of the assessee for the previous year. 91. A number of cases decided by the Hon'ble High Courts and also by the Apex Court are cited / referred to in the above judgement. Cases of Vijaya Bank Vs. CIT (323 ITR 166) 2010-TIOL-31-SC-IT and Southern Technologies Vs JCIT (320 ITR 577) 2010-TIOL-01-SC-IT are referred to therein. Accounting standard AS29 and also the effect of Board's Circular's have also been discussed at length in the order along with the subject of interpretation and construction of the relevant sections. Thus, the judgement is a comprehensiv…

ACIT, Kumbakonam vs. City Union Bank Limited, Kumbakonam

In the result, the appeals filed for the assessment year 2007-08 filed by

ITA 1671/CHNY/2014[2007-08]Status: DisposedITAT Chennai28 Dec 2016AY 2007-08

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri V. Vivekanandan, CIT
Section 143(1)Section 143(2)Section 143(3)Section 148Section 194JSection 195JSection 40A

…bt and being written off as irrecoverable in the accounts of the assessee for the previous year. 91. A number of cases decided by the Hon'ble High Courts and also by the Apex Court are cited / referred to in the above judgement. Cases of Vijaya Bank Vs. CIT (323 ITR 166) 2010-TIOL-31-SC-IT and Southern Technologies Vs JCIT (320 ITR 577) 2010-TIOL-01-SC-IT are referred to therein. Accounting standard AS29 and also the effect of Board's Circular's have also been discussed at length in the order along with the subject of interpretation and construction of the relevant sections. Thus, the judgement is a comprehensiv…

DCIT, New Delhi vs. M/S. Swarovski India Pvt. Ltd., New Delhi

In the result the appeal filed by the revenue stands disposed off accordingly

ITA 100/DEL/2011[2003-04]Status: DisposedITAT Delhi26 Aug 2016AY 2003-04

Bench: Shri N. K. Saini & Smt. Beena A. Pillai

For Appellant: Shri Manoj Pandwani, CAFor Respondent: Shri N C Swain, CIT DR
Section 143Section 36Section 92C

…. Aggrieved by the order of the Ld. A.O., the assessee preferred an appeal before the Ld. CIT (A). The Ld. CIT (A) deleted the disallowance by relying upon the decision of Hon’ble Supreme Court in the case of Vijay bank versus CIT and Anr., reported in (2010) 323 ITR 166. 4. Aggrieved by the order of the Ld. CIT (A) the revenue is in appeal before us now. 5. Ld. D.R. submitted that the assessee has not squared up the individual creditors account though the amount has been provided for in the balance sheet for the 4 I.T.A.No.100/Del/2011 year under consideration. The Ld. DR submitted that as the individual accou…

Asst CIT 14(1)(2), Mumbai vs. Godrej Sara Lee Ltd, Mumbai

ITA 118/MUM/2015[2005-06]Status: DisposedITAT Mumbai22 Aug 2016AY 2005-06
For Appellant: Shri Falee H. Bilimoria-ARFor Respondent: Shri K.V. Vispute-DR
Section 115Section 115JSection 143Section 154Section 254(1)

…आयकर अपीलीय अिधकरण, मुंबई “ “ “ “ जी जी जी” खंडपीठ जी Income-tax Appellate Tribunal -“G”Bench Mumbai सव"ी सव"ी सव"ी राजे"" सव"ी राजे"" राजे"",लेखा राजे"" लेखा लेखा सद"य लेखा सद"य सद"य एवं सद"य एवं एवं, राम लाल नेगी एवं राम लाल नेगी राम लाल नेगी, "याियक राम लाल नेगी "याियक "याियक सद"य "याियक सद"य सद"य सद"य Before S/Shri Rajendra,Accountant Member and Ram Lal Negi,Judicial Member आयकर आयकर अपील अपील संसंसंसं./ITA/118/Mum/2015,िनधा"रण िनधा"रण वष" वष" /Assessment Years: 2005-06 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" ACIT- 14(1)(2) M/s. Godrej Sara Lee Ltd. (Now Room No.460, 4th Floor, amalgamated into Godrej…

M/S. Holtec Consulting Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result the appeal filed by the assessee stands allowed for statistical purposes

ITA 276/DEL/2014[2007-08]Status: DisposedITAT Delhi18 Aug 2016AY 2007-08

Bench: Shri S. V. Mehrotra & Smt. Beena A. Pillai

For Appellant: Shri Akhilesh Gupta, CAFor Respondent: Shri A. K. Saroha, CIT DR
Section 14Section 143Section 143(1)Section 14ASection 36

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘C’, NEW DELHI BEFORE SHRI S. V. MEHROTRA, ACCOUNTANT MEMBER AND SMT. BEENA A. PILLAI, JUDICIAL MEMBER I.T.A. Nos.276 & 1057/Del/2014 (Assessment Year 2007-08 & 2010-11 respectively) Holtech Consulting Pvt. Ltd., Vs. DCIT, C- Block, 01-0103, Imperial Tower, Circle 12(1), Community Centre, Naraina Vihar, New Delhi New Delhi-110 028 GIR / PAN :AAACH0031H I.T.A.No. 2280/Del/2014 (Assessment Year 2010-11) DCIT, Circle 12(1), Vs. Hotech Consulting Pvt. Ltd., New Delhi C-Block 01-0103, Imperial Tower Community Centre, Naraina Vihar, New Delhi C.O.No.16/Del/2015 (As…

ACIT 2(3), Mumbai vs. Dena Bank, Mumbai

In the result appeal ITA No

ITA 6644/MUM/2013[2006-07]Status: DisposedITAT Mumbai29 Jul 2016AY 2006-07

Bench: Sh. Br Baskaran & Sh Pawan Singh

Section 115Section 115JSection 143(3)Section 154Section 263

…115JB of the Act. Ld AR for assessee argued that first part of ground is covered in favor of assessee by the decision of Mumbai Tribunal in assessee’s own case for AY 2005-06 in ITA No. 4296/M/2010, judgment of Apex Court in Vijaya Bank Vs CIT & others (2010) 323 ITR 166(SC) and the decision of Karnataka High Court. Ld Sr DR for revenue not disputed the ration cited and relied by Ld AR for assessee. Thus keeping in view of the aforesaid decision of Tribunal and Hon’ble Superior Courts this part of ground of appeal is allowed. 13. Second relief claimed in this ground is with regard to adding of disallowance u/s 1…

Dena Bank, Mumbai vs. Asst (OSD) 2(3), Mumbai

In the result appeal ITA No

ITA 3696/MUM/2013[2009-10]Status: DisposedITAT Mumbai29 Jul 2016AY 2009-10

Bench: Sh. Br Baskaran & Sh Pawan Singh

Section 115Section 115JSection 143(3)Section 154Section 263

…115JB of the Act. Ld AR for assessee argued that first part of ground is covered in favor of assessee by the decision of Mumbai Tribunal in assessee’s own case for AY 2005-06 in ITA No. 4296/M/2010, judgment of Apex Court in Vijaya Bank Vs CIT & others (2010) 323 ITR 166(SC) and the decision of Karnataka High Court. Ld Sr DR for revenue not disputed the ration cited and relied by Ld AR for assessee. Thus keeping in view of the aforesaid decision of Tribunal and Hon’ble Superior Courts this part of ground of appeal is allowed. 13. Second relief claimed in this ground is with regard to adding of disallowance u/s 1…

Larsen & Toubro Ltd, Mumbai vs. Addl CIT RG 3, Mumbai

Appeal of the AO is dismissed

ITA 4442/MUM/2010[1998-99]Status: DisposedITAT Mumbai27 Jul 2016AY 1998-99

Bench: S/Shri Joginder Singh & Rajendraआयकर आयकर अपील अपील संसंसंसं./Ita No./4442/Mum/2010 ,िनधा"रण िनधा"रण वष" वष" /Assessment Years: 1998-99 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" M/S. Larsen & Toubro Ltd. Dcit - Range 2(2) Room No. 577, 5Th Floor L&T House, N.M. Marg Vs. Ballard Estate, Mumbai-400001 Aayakar Bhavan, M.K. Road Pan: Aaacl0140P Mumbai-400020 आयकर आयकर आयकर अपील आयकर अपील अपील संसंसंसं./Ita No./4599/Mum/2013 ,िनधा"रण अपील िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" /Assessment Years: 1998-99 वष" Dcit - Range 2(2) M/S. Larsen & Toubro Ltd. Vs. Mumbai-400020 Ballard Estate, Mumbai-400001 (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By: Shri Mukund Chate Assessee By: Shri J.D. Mistry सुनवाई क" तारीख / Date Of Hearing: 24.06.2016 घोषणा क" तारीख / Date Of Pronouncement: 27.07.2016 आयकर आयकर अिधिनयम आयकर आयकर अिधिनयम अिधिनयम,1961 क" अिधिनयम क" क" धारा क" धारा धारा 254(1)केकेकेके अ"तग"त धारा अ"तग"त अ"तग"त आदेश अ"तग"त आदेश आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सद"य सद"य राजे"" राजे"" केकेकेके अनुसार अनुसार Per Rajendra A.M.- लेखा लेखा लेखा सद"य सद"य राजे"" राजे"" अनुसार अनुसार Challenging The Order Dt.26.03.20130Of The Cit(A)-5,Mumbai The Assessing Officer(Ao) & The Assessee Have Filed Cross-Appeals For The Year Under Consideration.Assessee-Company, Engaged In The Business Of Construction, Manufacturing Of Heavy Machinery & Cement, Etc., Filed It Return Of Income On,27.11.1998,Declaring Income Of Rs.37.20 Crores.The Ao Complet -Ed The Assessment,On 28.02.2001, Under Section 143(3) Of The Act, Determining The Income Of The Assessee At Rs.2,09,15,37,490/-.

For Appellant: Shri J.D. MistryFor Respondent: Shri Mukund Chate
Section 143(3)Section 254(1)Section 40A(9)

…in its favour,in part. 11.Next ground of appeal is about addition of Rs.12.94 crores, in computing book profit under section 115JA of the Act.The AR and DR stated that this issue stands decided in light of the decisions delivered in the cases of Vijaya Bank (231 CTR 209),TRF Limited (323 ITR 397).The second item with regard to computation under section 115JA is about disallowance made under section 14A of the Act.Respectfully,following the judgment of Vijaya Bank (supra) and TRF Ltd.(supra)we allow the appeal filed by the assessee.Second item being of consequential nature,stands allowed for statistical purposes.…