VMT Spinning Co. Ltd. v. CIT & Annr

360 ITR 682High Court2014#997 most cited

What is VMT Spinning Co. Ltd. v. CIT & Annr authority for?

The Tribunal should not be prevented from considering questions of law arising in assessment proceedings, particularly when those questions are purely legal and jurisdictional.

108

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2014 to 2025.

Also referred to as

VMT Spinning Co. Ltd. v. CIT · assessment proceedings · questions of law · Tribunal jurisdiction · National Thermal Power Co. Ltd. v. CIT

Sections most often in play

Section 143(3)Section 142(1)Section 153ASection 132Section 143(2)Section 234BSection 132(4)Section 133A

Issues it is cited on

section 5(8)section 32(1)(i)closely held companycost plus methodaccumulated profitssection 43arelated party transactioninitial assessment yearsection 80hdeduction under section 80iaenhanced compensationsection 80a(5)

Judgments citing VMT Spinning Co. Ltd. v. CIT & Annr

Eastern Coalfields Ltd., Burdwan vs. ACIT, Circle-2, Asansol

In the result, both the appeal of the assessee as well as the revenue is partly allowed for statistical purposes

ITA 2119/KOL/2014[2007-2008]Status: DisposedITAT Kolkata18 Oct 2017AY 2007-2008

Bench: "ी ऐ. ट". वक", "यायीक सद"य एवं/And "ी एम. बालगनेश, लेखा सद"य) [Before Shri A. T. Varkey, Jm & Shri M. Balaganesh, Am]

…and benefits granted to appellants. 15. The appellant gave exhaustive submission on the matter W.r.t decision in Goetze (India) Ltd. vs. C.I.T. (SC) 284 ITR 323. It was stated that the decision in Commissioner of Income Tax vs Sam Global Securities Ltd. (201) 360 ITR 682(Del) stands in their favour and the Hon. High Court of Delhi has considered the decision reported in Goetze (India) Ltd. vs. C.I.T. (SC) 284 ITR 323. However, in the case of Sam Global Securities Ltd., the claim for additional deduction was made by them before Assessing Officer but if1 this case, the claim was not made before Assessing Officer. H…

Elemention Health & Sports Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, both the appeals of the assessee are dismissed

ITA 5668/DEL/2011[2007-08]Status: DisposedITAT Delhi26 May 2017AY 2007-08

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

Section 10ASection 139(1)Section 139(5)Section 32(1)Section 37(1)

…expenditure being revenue in nature without considering the fact that such legal ground can be raised at any stage as held by Hon’ble Supreme Court in the case of CIT vs. NTPC, 229 ITR 383 and also relied on the judgment of CIT vs. SAM Global Securities Ltd., 360 ITR 682. 8. On the other hand, the ld. DR relied on the orders of the lower authorities and he vehemently objected that the assessee itself has shown these expenditures as capital expenditure in its books of account and return was also accordingly filed. However, subsequent change in the stand of the assessee has rightly been discarded by the first appel…

The Kangra Co-Operative Bank Ltd., New Delhi vs. JCIT, New Delhi

In the result, the appeal filed in ITA No

ITA 840/DEL/2013[2009-10]Status: DisposedITAT Delhi16 Oct 2015AY 2009-10
For Appellant: Sh. S.L. Gupta, CAFor Respondent: Sh. P. Dum Kanunjna, Sr.DR
Section 143(3)Section 250(6)Section 36(1)(viia)Section 43B

…laims need not be those which became available on account of change of circumstances of law but which were even available when the return was filed. 36. The Delhi High Court once again in recent judgment in the case of CIT v. Sam Global Securities Ltd. [2014] 360 ITR 682/[2013] 38 taxmann.com 129 observed that the Courts have taken a pragmatic view and not a technical one as to what is required to be determined in taxable income. In that sense assessment proceedings are not adversarial in nature. With these observations Court confirmed the view of the Tribunal reversing the decision of the assessing officer rejec…

The Kangra Co-Operative Bank Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal filed in ITA No

ITA 1432/DEL/2012[2008-09]Status: DisposedITAT Delhi16 Oct 2015AY 2008-09
For Appellant: Sh. S.L. Gupta, CAFor Respondent: Sh. P. Dum Kanunjna, Sr.DR
Section 143(3)Section 250(6)Section 36(1)(viia)Section 43B

…laims need not be those which became available on account of change of circumstances of law but which were even available when the return was filed. 36. The Delhi High Court once again in recent judgment in the case of CIT v. Sam Global Securities Ltd. [2014] 360 ITR 682/[2013] 38 taxmann.com 129 observed that the Courts have taken a pragmatic view and not a technical one as to what is required to be determined in taxable income. In that sense assessment proceedings are not adversarial in nature. With these observations Court confirmed the view of the Tribunal reversing the decision of the assessing officer rejec…

Pr. Commissioner Ofincome Tax vs. E-Funds International India Pvt. Ltd

The appeals are dismissed

ITA/607/2015HC Delhi06 Oct 2015
Section 10ASection 115Section 143(1)Section 143(2)Section 260ASection 80Section 80H

…evised return and that the former was not permissible in law. 16. Mr. Piyush Kaushik, learned counsel for the Assessee, on the other hand, referred to the recent decisions of this Court in Commissioner of Income Tax v. Sam Global Securities Ltd. (2014) 360 ITR 682 (Del); M/s. Influence v. Commissioner of Income Tax 2014-TIOL-1741-HC-DEL-IT and Commissioner of Income Tax v. Jai Parabolic Springs Ltd. (2008) 306 ITR 42 and the decision of Bombay High Court in Commissioner of Income Tax v. Pruthvi Brokers & Shareholders (P) Ltd. (2012) 349 ITR 336 (Bom). 2015:DHC:8387-DB ITA Nos. 607 & 608 of 2015…

Pr. Commissioner Ofincome Tax vs. E-Funds International India Pvt. Ltd

The appeals are dismissed

ITA/608/2015HC Delhi06 Oct 2015
Section 10ASection 115Section 143(1)Section 143(2)Section 260ASection 80Section 80H

…evised return and that the former was not permissible in law. 16. Mr. Piyush Kaushik, learned counsel for the Assessee, on the other hand, referred to the recent decisions of this Court in Commissioner of Income Tax v. Sam Global Securities Ltd. (2014) 360 ITR 682 (Del); M/s. Influence v. Commissioner of Income Tax 2014-TIOL-1741-HC-DEL-IT and Commissioner of Income Tax v. Jai Parabolic Springs Ltd. (2008) 306 ITR 42 and the decision of Bombay High Court in Commissioner of Income Tax v. Pruthvi Brokers & Shareholders (P) Ltd. (2012) 349 ITR 336 (Bom). 2015:DHC:8387-DB ITA Nos. 607 & 608 of 2015…

M/S Influence vs. Commr. of Income Tax

The appeal is disposed of without any order as to costs

ITA - 261 / 2002HC Delhi18 Sept 2014
Section 139(5)Section 143(2)Section 44ASection 80Section 80H

…decision of the Supreme Court in Goetze (India) Ltd. Vs. Commissioner of Income Tax [2006] 284 ITR 323 (SC). 7. A similar controversy had arisen before the Delhi High Court in the case of Commissioner of Income Tax Vs. Sam Global Securities Ltd. [2014] 360 ITR 682 (Delhi), wherein judgment in the case of CIT Vs. Jai Parabolic Springs Ltd. [2008] 306 ITR 42 (Delhi) was quoted. In Jai Parabolic Springs Ltd. (supra), decision in Goetze (India) Ltd. (supra) was distinguished in the following words:- “In Goetze (India) Ltd. Vs. CIT [2006] 284 ITR 323 (SC) wherein deduction claimed by way of a letter be…

M/S Influence vs. Commissioner of Income Tax

The appeal is disposed of without any order as to costs

ITA/261/2002HC Delhi18 Sept 2014
Section 139(5)Section 143(2)Section 44ASection 80Section 80H

…decision of the Supreme Court in Goetze (India) Ltd. Vs. Commissioner of Income Tax [2006] 284 ITR 323 (SC). 7. A similar controversy had arisen before the Delhi High Court in the case of Commissioner of Income Tax Vs. Sam Global Securities Ltd. [2014] 360 ITR 682 (Delhi), wherein judgment in the case of CIT Vs. Jai Parabolic Springs Ltd. [2008] 306 ITR 42 (Delhi) was quoted. In Jai Parabolic Springs Ltd. (supra), decision in Goetze (India) Ltd. (supra) was distinguished in the following words:- “In Goetze (India) Ltd. Vs. CIT [2006] 284 ITR 323 (SC) wherein deduction claimed by way of a letter be…