Vijaya Hospitality and Resorts Ltd. v. CIT

419 ITR 322High Court2019#4583 most cited

What is Vijaya Hospitality and Resorts Ltd. v. CIT authority for?

There is no bar under the Income Tax Act to setting off losses against deemed income under sections 68 to 69.

26

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2020 to 2026.

Also referred to as

Vijaya Hospitality and Resorts Ltd. v. CIT · Section 68 · Section 69 · Deemed income · Set off of losses · Income Tax Act

Also reported as

117 Taxmann.com 745

Sections most often in play

Section 143(3)Section 115BBESection 133ASection 250Section 68Section 69Section 133(6)Section 142(1)

Issues it is cited on

section 69dsection 32(2)section 72unabsorbed depreciationsection 69bsection 115bbsection 115black of enquirysection 115bbemalabar industrialsection 69csection 115

Judgments citing Vijaya Hospitality and Resorts Ltd. v. CIT

Pooja Marketing, Mumbai vs. Pr. CIT- 31, Mumbai

In the result, the appeal of the assessee is allowed

ITA 2596/MUM/2019[2014-15]Status: DisposedITAT Mumbai24 May 2021AY 2014-15

Bench: Us, The Core Issues To Be Decided Are As Under:-

Section 115BSection 263Section 58(4)

…owable against such income, before computing the tax liability u/s. 115BBE of the Act. In the following cases, such view has been taken: PCIT v. Aacharan Enterprises (P.) Ltd. [2020] 273 Taxman 85 (Raj.) a. b. Vijaya Hospitality and Resorts Ltd. v. CIT [2019] 419 ITR 322 (Ker.) c. Satish Kumar Goyal v. JCIT [2016] 70 taxmann.com 382 (Agra - Trib.) (xiii) With effect from 1.4.2017 relevant to Asst Year 2017-18, the setoff of losses was barred u/s. 115BBE of the Act. In Circular No. 3/2017 dated 20.1.2017 - Explanatory Notes to the Provisions of the Finance Act, 2016, the CBDT has noted that prior to the Finance A…

Ace Infracity Developers P.Ltd, Ghaziabad vs. DCIT, Central Circle, Noida

The appeal of the assessee is allowed

ITA 1087/DEL/2018[2015-16]Status: DisposedITAT Delhi05 Mar 2021AY 2015-16

Bench: Ms Suchitra Kamble & Dr. B. R. R. Kumar

Section 115BSection 132Section 2Section 69

…u/s 69 can be allowed. However, sub- section 2 of 115BBE as applicable in AY 2015-16. The Ld. AR also relied upon the CBDT Circular NO. 11/2019 dated 19.06.2019. The Ld. AR relied upon the following case laws:- i) Vijaya Hospitality and Resorts Ltd., v. CIT [419 ITR 322 (Kar. HC)] 3 ii) M/s Sangeet Resorts Vs DCIT; 2020-TIOL-468-1TAT-CHD iii) M/s Star Ply Board Ltd Vs PCIT; 2020-TIOL-611-ITAT-CHD iv) M/s. Innovative Construction Pvt. Ltd. Vs ACIT ITA No. 1084/Mum/2019 (A.Y 2013-14) dated 11/1/2020. Therefore, it is clearly established that set off of brought forward losses/depreciation against the income assess…

Innovative Construction P. Ltd, Mumbai vs. ACIT 12 (2)(2), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 1084/MUM/2019[2013-14]Status: DisposedITAT Mumbai11 Dec 2020AY 2013-14

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Blem/S. Innovative Construction Pvt. Ltd., V. Acit – 12(2)(2) 1St Floor, Samir Complex Room No. 145, 1St Floor St. Andrews Road, Bandra (W) Aayakar Bhavan, M.K. Road Mumbai – 400050 Mumbai – 400 020 Pan: Aaaci1573M (Appellant) (Respondent) Assessee By : Shri Yogesh A. Thar Department By : Ms. Shreekala Pardeshi

For Appellant: Shri Yogesh A. TharFor Respondent: Ms. Shreekala Pardeshi
Section 115BSection 69A

…loss and the Assessing Officer failed to make such an adjustment in the assessment order. Reliance was placed on the following decisions: - (i) PCIT v. Aacharan Enterprises (P.) Ltd. (273 Taxman 85)(Raj HC)(2020) (ii) Vijaya Hospitality & Resorts Ltd. v. CIT (419 ITR 322)(Ker HC)(2019) (iii) ACIT v. Sanjay Bairathi Gems Ltd. (166 ITD 445)(TJaipur)(2017) (iv) Famina Knit Fabs v. ACIT (176 ITD 246)(TChd)(2019) 5. On the other hand, Ld. DR submitted that the issue may be decided in view of Para No. 4 of the CBDT Circular No. 11 of 2019 dated 19.06.2019. 4 M/s. Innovative Construction Pvt. Ltd., 6. We have heard the…

M/S. Guru Kripa Career Institute Pvt. Ltd., Sikar vs. Pr.CIT-3, Jaipur

In the result, appeal of the assessee is allowed

ITA 283/JPR/2020[2015-16]Status: DisposedITAT Jaipur01 Sept 2020AY 2015-16
For Appellant: Shri S.R. Sharma &For Respondent: Shri B.K. Gupta (CIT-DR)
Section 115BSection 133ASection 143(3)Section 263Section 40A(3)Section 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “B”, JAIPUR Jh jes'k lh 'kekZ] ys[kk lnL; ,oa Jh lanhi x®lkÃa] U;kf;d lnL; ds le{k BEFORE: SHRI RAMESH C SHARMA, AM & SHRI SANDEEP GOSAIN, JM vk;dj vihy la-@ITA No. 283/JP/2020 fu/kZkj.k o"kZ@Assessment Year :2015-16 M/s Guru Kripa Career Institute cuke Pr.CIT-3, Vs. Pvt. Ltd., Jaipur. Samratpura Piprali Road, Jyoti Nagar, Sikar. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAECG 6662 M vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri S.R. Sharma & Shri Rajnikant Bhatra (CA) jktLo dh vks…

Sri.C.V.Joby, Palakkad vs. The ITO, Palakkad

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

ITA 689/COCH/2019[2014-15]Status: DisposedITAT Cochin10 Mar 2020AY 2014-15

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.Padmanathan K.V., CAFor Respondent: Sri. Santhom Bose, CIT-DR
Section 143(3)Section 263Section 68

…eal before the Tribunal. The learned Counsel for the assessee submitted that the issue in question is squarely covered in favour of the assessee by the judgment of the Hon’ble Kerala High Court in the case of Vijaya Hospitality and Resorts Ltd. v. CIT [(2019) 419 ITR 322 (Ker.)]. The learned AR of the assessee has not pressed the ground relating to the issue that the revision order passed u/s 263 of the I.T.Act, is barred by limitation. The learned Departmental Representative strongly supported the order passed u/s 263 of the I.T.Act. 6. We have heard the rival submissions and perused the material on record. The…

Smt.Meena Jobby, Palakkad vs. The ITO, Palakkad

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

ITA 589/COCH/2019[2015-16]Status: DisposedITAT Cochin10 Mar 2020AY 2015-16

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.Padmanathan K.V., CAFor Respondent: Sri. Santhom Bose, CIT-DR
Section 143(3)Section 263Section 68

…eal before the Tribunal. The learned Counsel for the assessee submitted that the issue in question is squarely covered in favour of the assessee by the judgment of the Hon’ble Kerala High Court in the case of Vijaya Hospitality and Resorts Ltd. v. CIT [(2019) 419 ITR 322 (Ker.)]. The learned Departmental Representative strongly supported the order passed u/s 263 of the I.T.Act. 6. We have heard the rival submissions and perused the material on record. The Hon’ble Kerala High Court in the case of Vijaya Hospitality and Resorts Ltd. (supra) had categorically held that the amendment which prohibits / restricts the…