Vikrant Tyres Ltd. v. ITO

247 ITR 821Supreme Court of India2001#3747 most cited

What is Vikrant Tyres Ltd. v. ITO authority for?

Courts must give a fair and reasonable construction to revenue statutes, adhering strictly to the statutory language without resorting to equitable interpretation. No tax can be levied without clear statutory intent.

32

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2009 to 2024.

Also referred to as

Vikrant Tyres Ltd. v. ITO · 247 ITR 821 · SC · interpretation of statutes · equitable construction · tax levy · statutory language · revenue acts · fair and reasonable construction

Read the full judgment

Issues it is cited on

section 17section 143personsection 14section 143(3)total incomebusinessdocumentinterest

Judgments citing Vikrant Tyres Ltd. v. ITO

DCIT Cen Cir 10, Mumbai vs. Vijay Nagar Corporation, Mumbai

Accordingly both the appeals filed by the revenue are hereby dismissed

ITA 1177/MUM/2013[1992-93]Status: DisposedITAT Mumbai25 May 2016AY 1992-93

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.1176/Mum/2013 & 1177/Mum/2013 ("नधा"रण वष" / Assessment Year: 1991-92 & 1992-93) Dy. Commissioner Of Income M/S. Vijay Nagar बनाम/ Tax Central Circle 10 Corporation Vs. Room No.802, 8Th Floor, “Citi Mall” Link Road, Old Cgo Annexe Bldg., Andheri (West) M.K.Road, Mumbai - 400053 Mumbai - 400020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaafv5936C

For Appellant: Shri Prakash JotwaniFor Respondent: Shri Vikram Batra
Section 154Section 220(2)Section 245D(1)Section 245D(4)Section 254D(4)

…ance on the law settled in [2012] 209 taxman 456 / 23 Hon’ble High Court of Bombay in case of Commissioner of Income Tax – 1 Vs. Chika Overseas (P.) Ltd. and CBDT Circular no.334, F. No.440/8/81 dated 03.04.1982 and Hon’ble Supreme Court in Vikrant Tyres Ltd. 247 ITR 821 and Carbon Ltd. & Ors Vs. [1997 (6) SCC 479. Before going further we are of the view that it is necessary to advert the finding of the learned CIT(A) on record:- “2.4.1 I have given my careful consideration to the rival submission, perused the material on record and duly considered the factual matrix of the case as also the applicable legal posi…

DCIT Cen Cir 10, Mumbai vs. Vijay Nagar Corporation, Mumbai

Accordingly both the appeals filed by the revenue are hereby dismissed

ITA 1176/MUM/2013[1991-92]Status: DisposedITAT Mumbai25 May 2016AY 1991-92

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.1176/Mum/2013 & 1177/Mum/2013 ("नधा"रण वष" / Assessment Year: 1991-92 & 1992-93) Dy. Commissioner Of Income M/S. Vijay Nagar बनाम/ Tax Central Circle 10 Corporation Vs. Room No.802, 8Th Floor, “Citi Mall” Link Road, Old Cgo Annexe Bldg., Andheri (West) M.K.Road, Mumbai - 400053 Mumbai - 400020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaafv5936C

For Appellant: Shri Prakash JotwaniFor Respondent: Shri Vikram Batra
Section 154Section 220(2)Section 245D(1)Section 245D(4)Section 254D(4)

…ance on the law settled in [2012] 209 taxman 456 / 23 Hon’ble High Court of Bombay in case of Commissioner of Income Tax – 1 Vs. Chika Overseas (P.) Ltd. and CBDT Circular no.334, F. No.440/8/81 dated 03.04.1982 and Hon’ble Supreme Court in Vikrant Tyres Ltd. 247 ITR 821 and Carbon Ltd. & Ors Vs. [1997 (6) SCC 479. Before going further we are of the view that it is necessary to advert the finding of the learned CIT(A) on record:- “2.4.1 I have given my careful consideration to the rival submission, perused the material on record and duly considered the factual matrix of the case as also the applicable legal posi…

DCIT, Bangalore vs. Shri. Sandeep Abrol, Bangalore

In the result: The Revenue’s appeal is dismissed

ITA 1322/BANG/2015[2012-13]Status: DisposedITAT Bangalore13 Apr 2016AY 2012-13

Bench: Shri Abraham P George & Shri George George Ki.T.(I.T) A. No.1322/Bang/2015 (Assessment Year : 2012-13) Dy. Commissioner Of Income Vs. Shri Sandeep Abrol, Tax, (Int. Taxation), Apartment No.31, 14, Circle 1(1), Bengaluru. Cornwall Block, Prestige Kinsington Garden, Bengaluru-560 013 Pan Azhpa 3903E Appellant Respondent.

For Appellant: Shri Sunil Kumar Agarwala, JCIT (D.R)For Respondent: Shri R.E. Balasubramanyam, C.A
Section 54Section 54(1)Section 54E

…gislature wanted to restrict the exemption itself to Rs.50 lakhs it could have simply dispensed with using the words ‘in a financial year.’’ 7.2. Extensively quoting the ruling of the Hon’ble Supreme Court in the case of Vikrant Tyres Ltd v. I ITO reported in 247 ITR 821 (SC) and also in the cases of (i) CIT v. Gwalior Rayon Silk Manufacturing Co. Ltd (196 ITR 149 – SC) and (ii) Bajaj Tempo Ltd v. CIT [196 ITR 188 (SC)], the earlier Bench of this Tribunal was of the view that – “9.8…………………………………………………………………………… Taking into consideration the overall facts and circumstances of the case, the CBDT’s Circular No.3/20…

Stewarts & Lloyds of India Limited, Kolkata vs. Commissioner of Income Tax, Kol - I, Kolkata

In the result the appeal by the Assessee is partly allowed

ITA 372/KOL/2009[2004-05]Status: DisposedITAT Kolkata02 Mar 2016AY 2004-05

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] Assessment Year : 2004-05 Stewarts & Lloyds Of India Ltd. -Versus- C.I.T., Circle-1, Kolkata Kolkata (Pan:Aaecs 0445G) (Appellant ) (Respondent)

For Appellant: Shri Soumen Adak, ACA & Shri Prakash Singh,ACAFor Respondent: Shri Radhey Shyam, CIT.DR
Section 143(3)Section 263

…ated by the definition. The expression "property" is of the widest import and subject to any limitations which the context may require, it signifies every possible interest which a person can acquire, hold and enjoy—Refer Ahmed G.H. Arif & Ors. vs. CWT (1970) 76 ITR 471 (SC). It is, therefore, true that if any one of such interests was alienable by the holder of the same, it could give rise to a capital gain short or long-term depending upon the period for which the interest was held by the person concerned. 13. The question, however, is not whether the leasehold right held by the assessee could independent of th…

Assistant Commissioner of Income Tax, Bangalore vs. Sri Srinivasan Radhesh, Bangalore

In the result, Revenue’s appeal for Assessment Year 2010-11 is dismissed

ITA 1151/BANG/2014[2010-11]Status: DisposedITAT Bangalore24 Jul 2015AY 2010-11
For Appellant: Shri P. Dhivahar, JCIT (D.R)For Respondent: Shri B.M. Manjunath, C.A
Section 143(1)Section 143(3)Section 260ASection 54E

…ed with using the words “in a financial year.” 9.8 The judicial decisions relied upon by the learned counsel for the assessee also support the stand of the assessee. The Hon'ble Apex Court while deciding the case of Vikrant Tyres Ltd Vs. First ITO reported in 247 ITR 821 have already laid down the law on interpreting of statutes by holding thereof that :- “ It is settled principle in law that the courts while construing Revenue Acts have to give a fair and reasonable construction to the language of a statute without leaning to one side or the other, meaning thereby that no tax or levy can be imposed on a subject…

Smt. Neena Krishna Menon, Bangalore vs. CIT, Bangalore

In the result, the appeal by the assessee is allowed

ITA 578/BANG/2014[2009-10]Status: DisposedITAT Bangalore05 Mar 2015AY 2009-10

Bench: Shri N.V. Vasudevan & Shri Jason P. Boazassessment Year : 2009-10

For Appellant: Shri K. Kotresh, C.AFor Respondent: Shri Farahat Hussain Qureshi, CIT-II(DR)
Section 143(3)Section 263Section 54E

…ed with using the words “in a financial year.” 9.8 The judicial decisions relied upon by the learned counsel for the assessee also support the stand of the assessee. The Hon'ble Apex Court while deciding the case of Vikrant Tyres Ltd Vs. First ITO reported in 247 ITR 821 have already laid down the law on interpreting of statutes by holding thereof that :- “ It is settled principle in law that the courts while construing Revenue Acts have to give a fair and reasonable construction to the language of a statute without leaning to one side or the other, meaning thereby that no tax or levy can be imposed on a subject…

Insilco Limited vs. Commissioner of Income Tax-IV New Delhi

ITA/179/2009HC Delhi11 Jul 2011

Bench: It?

Section 154Section 220(2)Section 244ASection 254Section 254(1)

…reason or occasion to charge interest under the aforesaid provision which was not even applicable in the facts of this case. While taking this view, the CIT(A) relied upon the judgments of the Apex Court in the case of Vikrant Tyres Ltd. Vs. First ITO [247 ITR 821] holding as under: ITA No.179 of 2009 Page 6 of 14 “In respect of certain assessment years, assessment orders were served on the assessee and demand notices were issued and the assessee complied with the demands by paying the tax due thereunder within time. The appellate authority allowed the assessee‟s a…

Commissioner of Income Tax vs. Ece Industries Ltd

ITA/417/2007HC Delhi24 Dec 2010

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE SURESH KUMAR KAIT

Section 50Section 50(2)

…ITA Nos.417 of 2007 & 1069 of 2007 Page 1 of 22 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA No.417 of 2007 with ITA No.1069 of 2007 % DECISION DELIVERED ON: DECEMBER 24, 2010 1) ITA No.417 of 2007 Commissioner of Income Tax . . . Appellant through : Ms. Prem Lata Bansal, Advocate. VERSUS ECE Industries Limited . . .Respondent through: Mr. Ajay Vohra, Advocate with Ms. Kavita Jha, Advocate and Mr. Somnath Shukla, Advocate. 2) ITA No.1069 of 2007 Commissioner of Income Tax…

Commissioner of Income Tax vs. ECE Industries Limited

ITA-417/2007HC Delhi24 Dec 2010
Section 50Section 50(2)

…* IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA No.417 of 2007 with ITA No.1069 of 2007 % DECISION DELIVERED ON: DECEMBER 24, 2010 1) ITA No.417 of 2007 Commissioner of Income Tax . . . Appellant through : Ms. Prem Lata Bansal, Advocate. VERSUS ECE Industries Limited . . .Respondent through: Mr. Ajay Vohra, Advocate with Ms. Kavita Jha, Advocate and Mr. Somnath Shukla, Advocate. 2) ITA No.1069 of 2007 Commissioner of Income Tax . . . Appellant through : Ms. Prem Lata Bansal,…

The Commissioner of Incomet Tax vs. Khatri Hotels Pvt Ltd

The appeals are dismissed

ITA - 1323 / 2008HC Delhi15 Apr 2009
Section 143Section 158

…(2) and on failure to follow such a procedure the block assessment order would be without jurisdiction and would have to be set aside. $\bigcap$ (1) $\bigcap$ $\{\prod \}$ 23. Mr. Aggarwal referred to the decision in *Vikrant Tyres v. First ITO*: 247 ITR 821 wherein it was observed thus:- "It is a settled principle in law that the courts while construing revenue acts will have to give a fair and reasonable construction to the language of a statute without leaning to one side or the other, meaning thereby that no tax or levy can be imposed on a subject by an act of Parliament without the words of the…

Commissioner of Income Tax vs. Pawan Gupta

The appeals are dismissed

ITA - 200 / 2008HC Delhi15 Apr 2009
Section 143Section 143(2)Section 158

…y the mandate of the proviso to section 143 (2) and on failure to follow such a procedure the block assessment order would be without jurisdiction and would have to be set aside. 23. Mr. Aggarwal referred to the decision in Vikrant Tyres v. First ITO: 247 ITR 821 wherein it was observed thus:- "It is a settled principle in law that the courts while construing revenue acts will have to give a fair and reasonable construction to the language of a statute without leaning to one side or the other, meaning thereby that no tax or levy can be imposed on a subject by an act of Parliament without the words of…

Commissioner of Income Tax vs. Pawan Gupta

The appeals are dismissed

ITA/200/2008HC Delhi15 Apr 2009
Section 143Section 143(2)Section 158

…y the mandate of the proviso to section 143 (2) and on failure to follow such a procedure the block assessment order would be without jurisdiction and would have to be set aside. 23. Mr. Aggarwal referred to the decision in Vikrant Tyres v. First ITO: 247 ITR 821 wherein it was observed thus:- "It is a settled principle in law that the courts while construing revenue acts will have to give a fair and reasonable construction to the language of a statute without leaning to one side or the other, meaning thereby that no tax or levy can be imposed on a subject by an act of Parliament without the words of…