Western India Oil Distributing Co. Ltd. v. CIT

206 ITR 359High Court1994#6306 most cited
19

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2026.

Sections most often in play

Section 14ASection 244ASection 36(1)(vii)Section 36(1)(viia)Section 40(a)(ia)Section 43BSection 80-IA

Issues it is cited on

depreciation on leased assetssection 36(2)(v)section 41(4)section 80hsection 36(2)section 36(1)(viia)section 80hhcright to receivesection 80hhsection 36(1)(vii)section 41mercantile system of accounting

Judgments citing Western India Oil Distributing Co. Ltd. v. CIT

ASST CIT 2(2)(1), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

ITA 3882/MUM/2017[2010-11]Status: DisposedITAT Mumbai21 Apr 2026AY 2010-11

Bench: Smt. Beena Pillai () & Shri Jagadish ()

Section 14ASection 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43B

…l income and hence has to be taxed as such under the mercantile system followed by the appellant. Reliance in this regard is placed on State Bank of Travancore vs. CIT 158 ITR 102, 155 (SC) which was followed in Western India Oil Distributing Co. Ltd. Vs. CIT 206 ITR 359 (Bom). It was held in this decision that the concept of real income should not be so read as to defeat the provisions of the Act. Extension of the concept of real income to a field so as to negate accrual after the amount had become receivable is contrary to the postulates of the Act, the Supreme Court held (p. 146 of 158 ITR). Moreover, as held…

STATE BANK OF INDIA,MUMBAI vs. ASST CIT CIR 2(2), MUMBAI

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

ITA 3680/MUM/2017[2010-11]Status: DisposedITAT Mumbai21 Apr 2026AY 2010-11

Bench: Smt. Beena Pillai () & Shri Jagadish ()

Section 14ASection 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43B

…l income and hence has to be taxed as such under the mercantile system followed by the appellant. Reliance in this regard is placed on State Bank of Travancore vs. CIT 158 ITR 102, 155 (SC) which was followed in Western India Oil Distributing Co. Ltd. Vs. CIT 206 ITR 359 (Bom). It was held in this decision that the concept of real income should not be so read as to defeat the provisions of the Act. Extension of the concept of real income to a field so as to negate accrual after the amount had become receivable is contrary to the postulates of the Act, the Supreme Court held (p. 146 of 158 ITR). Moreover, as held…

MEENAKSHI ENERGY AND INFRASTRUCTURE HOLDINGS PRIVATE LIMITED,HYDERABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-5(1), HYDERABAD

In the result, appeal filed by the assessee is allowed

ITA 291/HYD/2024[2018-19]Status: DisposedITAT Hyderabad27 Jun 2024AY 2018-19

Bench: Shri Laliet Kumar & Shri Manjunatha, G.आ.अपी.सं /Ita No.291/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2018-19) Meenakshi Energy & Vs. Dy. C. I. T. Infrastructure Holdings (P) Circle 5 (1) Ltd, Hyderabad Hyderabad Pan:Aafcm6917L (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee By: Advocate Shri A.V. Raghuram रधजस् व द्वधरध/Revenue By:: Shri K.Meghanath Chowhan,(Cit)Dr सुिवधई की तधरीख/Date Of Hearing: 21/05/2024 घोर्णध की तधरीख/Pronouncement: 27/06/2024 आदेश/Order

For Appellant: Advocate Shri A.V. RaghuramFor Respondent: : Shri K.Meghanath Chowhan,(CIT)DR
Section 72(1)

…case of CIT vs. Western India Oil Distribution Co Ltd on 23rd April, 1997, [2001]249ITR517(SC) where the Hon'ble Supreme Court upheld the decision of the Hon'ble Bombay High Court in the case of Western India Oil Distribution Co Ltd vs. CIT reported in (1980) 126 ITR 497 where it has been clearly held that after relying upon the judgment in the case of Manmohan Das is realized, it would appear that if it in an earlier year it has been held that the correct head of income applicable to the assessee’s case is under section 12 i.e. “income from other sources” and by that reason the benefit of carrying forward of una…

ASST CIT CIR 2(2)(1), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

In the result, the appeal by the Revenue is partly allowed for statistical purposes

ITA 4564/MUM/2016[2009-10]Status: DisposedITAT Mumbai06 Jun 2023AY 2009-10

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

For Appellant: S/Shri P.J. Pardiwala a/w Ninad PatadeFor Respondent: Ms. Surabhi Sharma
Section 142(1)Section 143(2)Section 143(3)Section 14ASection 250Section 36(1)Section 36(1)(vii)Section 36(1)(viia)

…al income and hence has to betaxed as such under the mercantile system followed by the appellant. Reliance in this regard is placed on State Bank of Travancore vs. CIT 158 ITR 102, 155 (SC) which was followed in Western India Oil Distributing Co. Ltd. Vs. CIT 206 ITR 359 (Bom). It was held in this decision that the concept of real income should not be so read as to defeat the provisions of the Act. Extension of the concept of real income to a field so as to negate accrual after the amount had become receivable is contrary to the postulates of the Act, the Supreme State Bank of India ITA no.3645/Mum./2016 ITA no.4…

STATE BANK OF INDIA,MUMBAI vs. ADDL CIT RG 2(2), MUMBAI

In the result, the appeal by the Revenue is partly allowed for statistical purposes

ITA 3645/MUM/2016[2009-10]Status: DisposedITAT Mumbai06 Jun 2023AY 2009-10

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

For Appellant: S/Shri P.J. Pardiwala a/w Ninad PatadeFor Respondent: Ms. Surabhi Sharma
Section 142(1)Section 143(2)Section 143(3)Section 14ASection 250Section 36(1)Section 36(1)(vii)Section 36(1)(viia)

…al income and hence has to betaxed as such under the mercantile system followed by the appellant. Reliance in this regard is placed on State Bank of Travancore vs. CIT 158 ITR 102, 155 (SC) which was followed in Western India Oil Distributing Co. Ltd. Vs. CIT 206 ITR 359 (Bom). It was held in this decision that the concept of real income should not be so read as to defeat the provisions of the Act. Extension of the concept of real income to a field so as to negate accrual after the amount had become receivable is contrary to the postulates of the Act, the Supreme State Bank of India ITA no.3645/Mum./2016 ITA no.4…

DCIT 2(2), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

ITA 4951/MUM/2013[2005-06]Status: DisposedITAT Mumbai22 Mar 2022AY 2005-06

Bench: Shri M. Balaganesh & Shri Kuldip Singhassessment Year: 2005-06 M/S. State Bank Of India, Dcit, Financial Reporting & Circle -2(2), Taxation Dept., Mumbai 3Rd Floor, Vs. Corporate Centre, Madam Cama Road, Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent) Assessment Year: 2005-06 Office Of The Dcit-2(2), M/S. State Bank Of India, R.No.545, Central Office, Aayakar Bhavan, Accounts & Compliance M.K. Road, Dept., Vs. 14Th Floor, Mumbai- 400 020 Madam Cama Rd., Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent)

For Appellant: Shri Ketan Ved, A.RFor Respondent: Shri Anand Mohan, D.R
Section 14Section 14ASection 36Section 41(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “G”, MUMBAI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI KULDIP SINGH, JUDICIAL MEMBER Assessment Year: 2005-06 M/s. State Bank of India, DCIT, Financial Reporting & Circle -2(2), Taxation Dept., Mumbai 3rd Floor, Vs. Corporate Centre, Madam Cama Road, Nariman Point, Mumbai – 400 021 PAN: AAACS8577K (Appellant) (Respondent) Assessment Year: 2005-06 Office of the DCIT-2(2), M/s. State Bank of India, R.No.545, Central Office, Aayakar Bhavan, Accounts & Compliance M.K. Road, Dept., Vs. 14th Floor, Mumbai- 400 020 Madam Cama Rd., Nariman Point, Mumbai – 400…

STATE BANK OF INDIA,MUMBAI vs. DCIT CIR 2(2), MUMBAI

ITA 3685/MUM/2013[2005-06]Status: DisposedITAT Mumbai22 Mar 2022AY 2005-06

Bench: Shri M. Balaganesh & Shri Kuldip Singhassessment Year: 2005-06 M/S. State Bank Of India, Dcit, Financial Reporting & Circle -2(2), Taxation Dept., Mumbai 3Rd Floor, Vs. Corporate Centre, Madam Cama Road, Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent) Assessment Year: 2005-06 Office Of The Dcit-2(2), M/S. State Bank Of India, R.No.545, Central Office, Aayakar Bhavan, Accounts & Compliance M.K. Road, Dept., Vs. 14Th Floor, Mumbai- 400 020 Madam Cama Rd., Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent)

For Appellant: Shri Ketan Ved, A.RFor Respondent: Shri Anand Mohan, D.R
Section 14Section 14ASection 36Section 41(4)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “G”, MUMBAI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI KULDIP SINGH, JUDICIAL MEMBER Assessment Year: 2005-06 M/s. State Bank of India, DCIT, Financial Reporting & Circle -2(2), Taxation Dept., Mumbai 3rd Floor, Vs. Corporate Centre, Madam Cama Road, Nariman Point, Mumbai – 400 021 PAN: AAACS8577K (Appellant) (Respondent) Assessment Year: 2005-06 Office of the DCIT-2(2), M/s. State Bank of India, R.No.545, Central Office, Aayakar Bhavan, Accounts & Compliance M.K. Road, Dept., Vs. 14th Floor, Mumbai- 400 020 Madam Cama Rd., Nariman Point, Mumbai – 400…

GRASIM INDUSTRIES LTD. vs. ADDL. CIT RANGE 6(3),

In the result, appeal filed by the assesse and revenue are partly allowed

ITA 4753/MUM/2004[2002-03]Status: DisposedITAT Mumbai14 Dec 2021AY 2002-03

Bench: Shri Saktijit Dey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blegrasim Industries Limited V. Addl. Cit, Range 6(3) Corporate Finance Division 5Th Floor, Room No. 505 Aditya Birla Centre “A” Wing Aayakar Bhavan 2Nd Floor, S.K. Ahire Marg, Worli Mumbai Mumbai-400025 Pan: Aaacg4464B Appellant Respondent Dy. Cit, Range 6(3), V. Grasim Industries Limited, 5Th Floor, Room No. 505, Corporate Finance Division, Aayakar Bhavan, Aditya Birla Centre, “A” Wing, Mumbai-20. 2Nd Floor, S.K. Ahire Marg Worli, Mumbai-400025 Pan: Aaacg4464B Appellant Respondent Assessee By : Shri J.D. Mistry Revenue By : Shri Sandeep Raj & Shri Vijay Kumar Menon

For Appellant: Shri J.D. MistryFor Respondent: Shri Sandeep Raj &
Section 143(3)Section 36(1)(vii)Section 43BSection 80Section 80H

…ction as has been 54 ITA No. 4753 & 5584/MUM/2004 (A.Y. 2002-03) Grasim Industries Limited, held by the Supreme Court in the case of K. Ravindranathan Nair (247 ITR 178) and the jurisdictional High Court in the case of Western India Oil Distribution Co. Ltd. (77 ITR 140). The Ld.CIT(A) has discussed this issue in detail in para 11 on page 6 to 11 of the order. Revenue preferred appeal against this order of the Ld.CIT(A). 87. Before us, the Ld. AR of the assessee brought to our notice various decisions which are in favour of the assesse viz., Ambala Cantt Electric Supply Corp. Ltd [133 ITR 343 (P&H), K. Ravindra…

STATE BANK OF INDIA,MUMBAI vs. ASST CIT CIR 2(2), MUMBAI

In the result, appeal of the Revenue in ITA No

ITA 3779/MUM/2012[2003-04]Status: DisposedITAT Mumbai30 Sept 2021AY 2003-04
Section 143(3)

…h under the mercantile system followed by the appellant. Reliance in this regard is placed on State Bank of Travancore vs. CIT 158 ITR 102, 155 (SC) which was Travancore vs. CIT 158 ITR 102, 155 (SC) followed in Western India Oil Distributing Co. Ltd. Vs. CIT 206 ITR 359 (Bom). ITR 359 (Bom). It was held in this decision that the concept of real income should not be so read as to defeat the provisions of the Act. Extension of the concept of real income to a field so as to negate accrual after the amount had become receivable is contrary to the postulates of the Act, the Supreme Court held (p. 146 of 158 ITR). Mor…

ACIT, CIRCLE- 2(2), NEW DELHI vs. ANANT RAJ LTD., NEW DELHI

In the result assessee’s appeal is partly allowed and Revenue’s appeal is dismissed

ITA 5677/DEL/2017[2013-14]Status: DisposedITAT Delhi11 May 2020AY 2013-14

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

For Appellant: Shri V.K. Bindal, CAFor Respondent: Shri Sanjay Goel, CIT-DR
Section 143(3)Section 36(1)(vii)Section 36(2)Section 4Section 50C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & DR. B.R.R. KUMAR, ACCOUNTANT MEMBER I.T.A. No. 5169/DEL/2017 Assessment Year: 2013-14 M/s Anant Raj Limited, v. ACIT, E-2, ARA Centre, Range-2, Jhandewalan Extension, Circle-2(2), New Delhi-110055 New Delhi TAN/PAN: AABCA3927B (Appellant) (Respondent) I.T.A. No. 5677/DEL/2017 Assessment Year: 2013-14 ACIT, v. M/s Anant Raj Limited, Range-2, E-2, ARA Centre, Circle-2(2), Jhandewalan Extension, New Delhi New Delhi-110055 TAN/PAN: AABCA3927B (Appellant) (Respondent) Appellant by: Shri V.K. Bindal, CA, Ms. Swee…

ANANT RAJ LTD,NEW DELHI vs. ADDL.CIT, RANGE-2,CIRCLE-2(2), NEW DELHI

In the result assessee’s appeal is partly allowed and Revenue’s appeal is dismissed

ITA 5169/DEL/2017[2013-14]Status: DisposedITAT Delhi11 May 2020AY 2013-14

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

For Appellant: Shri V.K. Bindal, CAFor Respondent: Shri Sanjay Goel, CIT-DR
Section 143(3)Section 36(1)(vii)Section 36(2)Section 4Section 50C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & DR. B.R.R. KUMAR, ACCOUNTANT MEMBER I.T.A. No. 5169/DEL/2017 Assessment Year: 2013-14 M/s Anant Raj Limited, v. ACIT, E-2, ARA Centre, Range-2, Jhandewalan Extension, Circle-2(2), New Delhi-110055 New Delhi TAN/PAN: AABCA3927B (Appellant) (Respondent) I.T.A. No. 5677/DEL/2017 Assessment Year: 2013-14 ACIT, v. M/s Anant Raj Limited, Range-2, E-2, ARA Centre, Circle-2(2), Jhandewalan Extension, New Delhi New Delhi-110055 TAN/PAN: AABCA3927B (Appellant) (Respondent) Appellant by: Shri V.K. Bindal, CA, Ms. Swee…

STATE BANK OF INDIA,MUMBAI vs. ADDL CIT RG 2(2), MUMBAI

In the result, the appeal filed by the assessee is partly allowed and appeal filed by the revenue is dismissed

ITA 6482/MUM/2010[2000-01]Status: DisposedITAT Mumbai06 Mar 2020AY 2000-01

Bench: Shri Rajesh Kumar, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.6482 /Mum/2010 (निर्धारण वर्ा / Assessment Year: 2000-01) State Bank Of India बिधम/ Acit Range-2(2) Mumbai. Financial Reporting, Vs. Compliance & Taxation Dept. Mumbai-400021. Ita. No. 6822/Mum/2010 (निर्धारण वर्ा / Assessment Year: 2000-01) Acit Range-2(2) बिधम/ State Bank Of India Mumbai. Financial Reporting, Vs. Compliance & Taxation Dept. Mumbai-400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs8577K (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Girish Dave/Urvi Mehta Revenue By: Shri Awungshi Gimson (Dr) सुनवाई की तारीख / Date Of Hearing: 12/12/2019 घोषणा की तारीख /Date Of Pronouncement: 06/03/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue As Well As Assessee Have Filed The Above Mentioned Appeals Against The Order Dated 21.07.2010 Passed By The Commissioner Of Income Tax (Appeals)-5, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2000-01. Ita. No.6482/M/2010 6822/M/2010 A.Y. 2000-01 2. The Assessee Has Filed The Present Appeal Against The Order Dated 21.07.2010 Passed By The Commissioner Of Income Tax (Appeals)-05, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2000- 01. 3. The Assessee Has Raised The Following Grounds: -

For Appellant: Shri Girish Dave/Urvi MehtaFor Respondent: Shri Awungshi Gimson (DR)
Section 14ASection 43D

…l income and hence has to be taxed as such under the mercantile system followed by the appellant. Reliance in this regard is placed on State Bank of Travancore vs. CIT 158 ITR 102, 155 (SC) which was followed in Western India Oil Distributing Co. Ltd. Vs. CIT 206 ITR 359 (Bom). It was held in this decision that the concept of real income should not be so read as to defeat the provisions of the Act. Extension of the concept of real income to a field so as to negate accrual after the amount had become receivable is contrary to the postulates of the Act, the Supreme Court held (p. 146 of 158 ITR). Moreover, as held…

STATE BANK OF INDIA,MUMBAI vs. ACIT CIR 2(2),

In the result, appeal of the revenue is dismissed

ITA 4736/MUM/2010[1999-2000]Status: DisposedITAT Mumbai31 Jan 2018AY 1999-2000

Bench: Shri G.S. Pannu & Shri Pawan Singhstate Bank Of India Acit Circle (2)(2), Financial Reporting, Compliance & Mumbai. Taxation Department, 19Th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. Pan: Aaacs8577K (Appellant) (Respondent) Acit Circle (2)(2), State Bank Of India Mumbai. Financial Reporting, Compliance & Taxation Department, 19Th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. Pan: Aaacs8577K (Appellant) (Respondent)

For Respondent: Shri R.P. Meena (CIT-DR)
Section 14ASection 195Section 253Section 254(1)Section 36(1)(viia)Section 40Section 43D

…ercantile system followed by the appellant. Reliance in this regard is placed on State Bank of tate Bank of Travancore vs. CIT 158 ITR 102, 155 (SC) which was Travancore vs. CIT 158 ITR 102, 155 (SC) followed in Western India Oil Distributing Co. Ltd. Vs. CIT 206 ITR 359 (Bom). ITR 359 (Bom). It was held in this decision that the concept of real income should not be so read as to defeat the provisions of the Act. Extension of the concept of real income to a field so as to negate accrual after the amount had become receivable is contrary to the postulates of the Act, the Supreme Court held (p. 146 of 158 ITR). Mor…

ACIT CIR 2(2), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

In the result, appeal of the revenue is dismissed

ITA 4598/MUM/2010[1999-00]Status: DisposedITAT Mumbai31 Jan 2018AY 1999-00

Bench: Shri G.S. Pannu & Shri Pawan Singhstate Bank Of India Acit Circle (2)(2), Financial Reporting, Compliance & Mumbai. Taxation Department, 19Th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. Pan: Aaacs8577K (Appellant) (Respondent) Acit Circle (2)(2), State Bank Of India Mumbai. Financial Reporting, Compliance & Taxation Department, 19Th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. Pan: Aaacs8577K (Appellant) (Respondent)

For Respondent: Shri R.P. Meena (CIT-DR)
Section 14ASection 195Section 253Section 254(1)Section 36(1)(viia)Section 40Section 43D

…ercantile system followed by the appellant. Reliance in this regard is placed on State Bank of tate Bank of Travancore vs. CIT 158 ITR 102, 155 (SC) which was Travancore vs. CIT 158 ITR 102, 155 (SC) followed in Western India Oil Distributing Co. Ltd. Vs. CIT 206 ITR 359 (Bom). ITR 359 (Bom). It was held in this decision that the concept of real income should not be so read as to defeat the provisions of the Act. Extension of the concept of real income to a field so as to negate accrual after the amount had become receivable is contrary to the postulates of the Act, the Supreme Court held (p. 146 of 158 ITR). Mor…

D.C.I.T., CIRCLE-10, KOLKATA, KOLKATA vs. M/S EUREKA FORBES LTD., KOLKATA

In the result, the appeal filed by the Revenue on this issue is dismissed

ITA 2625/KOL/2013[2009-2010]Status: DisposedITAT Kolkata21 Dec 2016AY 2009-2010

Bench: Shri S.S.Viswanethra Ravi, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita Nos.2126&2625/Kol/2013 ("नधा"रण वष" /Assessment Year:2008-2009 & 2009-2010) Deputy Commissioner Of Vs. M/S Eureka Forbes Ltd., Income Tax, Circle-10, 7, Chakraberia Road (S), P-7, Chowringhee Square, Kolkata-700025 3Rd Floor, Kolkata-700069 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaace 5767 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By : Shri Niraj Kumar, Cit Dr Assessee By : Dr. Samir Chakraborty, Sr. Advocate & Shri Abhijit Biswas, Advocate सुनवाई क" तार"ख / Date Of Hearing : 06/12/2016 घोषणा क" तार"ख/Date Of Pronouncement 21/12/2016 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am:

For Appellant: Dr. Samir Chakraborty, Sr. AdvocateFor Respondent: Shri Niraj Kumar, CIT DR
Section 143(1)Section 143(3)Section 68

…aling in water purifier (Aqua-guard) and vacuum cleaner. Thus, there is a clear cut relationship between activity of assessee company and that of the subsidiary company. The A.R. has submitted a case law of Western India Oil Distributing Company Ltd. Vs. CIT (77 ITR 140) in which the Hon'ble Bombay High Court held that expense incurred for the purpose of termination of disadvantageous trade relationship are incurred wholly and exclusively for the purpose of company's trade. I have considered the finding of the A.O. on this issue and the written submission and case laws filed by the A. R. I find that the assessee…

D.C.I.T CIR - 10,KOLKATA, KOLKATA vs. M/S EUREKA FORBES LTD, KOLKATA

In the result, the appeal filed by the Revenue on this issue is dismissed

ITA 2126/KOL/2013[2008-09]Status: DisposedITAT Kolkata21 Dec 2016AY 2008-09

Bench: Shri S.S.Viswanethra Ravi, Jm & Dr. A.L.Saini, Am आयकर अपील सं./Ita Nos.2126&2625/Kol/2013 ("नधा"रण वष" /Assessment Year:2008-2009 & 2009-2010) Deputy Commissioner Of Vs. M/S Eureka Forbes Ltd., Income Tax, Circle-10, 7, Chakraberia Road (S), P-7, Chowringhee Square, Kolkata-700025 3Rd Floor, Kolkata-700069 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaace 5767 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By : Shri Niraj Kumar, Cit Dr Assessee By : Dr. Samir Chakraborty, Sr. Advocate & Shri Abhijit Biswas, Advocate सुनवाई क" तार"ख / Date Of Hearing : 06/12/2016 घोषणा क" तार"ख/Date Of Pronouncement 21/12/2016 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am:

For Appellant: Dr. Samir Chakraborty, Sr. AdvocateFor Respondent: Shri Niraj Kumar, CIT DR
Section 143(1)Section 143(3)Section 68

…aling in water purifier (Aqua-guard) and vacuum cleaner. Thus, there is a clear cut relationship between activity of assessee company and that of the subsidiary company. The A.R. has submitted a case law of Western India Oil Distributing Company Ltd. Vs. CIT (77 ITR 140) in which the Hon'ble Bombay High Court held that expense incurred for the purpose of termination of disadvantageous trade relationship are incurred wholly and exclusively for the purpose of company's trade. I have considered the finding of the A.O. on this issue and the written submission and case laws filed by the A. R. I find that the assessee…

KP SANGHVI INFRASTRUCTURE P.LTD( FORMELRY KNWON AS SOMNATH PROJECT ORGANIZERS P.LTD,MUMBAI vs. ITO WD 5(2)2, MUMBAI

In the result, the appeal filed by the assessee in ITA No

ITA 6157/MUM/2012[2006-07]Status: DisposedITAT Mumbai15 Dec 2016AY 2006-07

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.6157/Mum/2012 ("नधा"रण वष" / Assessment Year : 2006-07) K.P. Sanghvi Infrastructures Income Tax Officer – Ward बनाम/ Private Limited, – 5(2)(2), V. (Formerly Known As Somnath 5 Th Floor, Project Organizers Private Aayakar Bhavan, Limited) M.K. Road, 1301, Prasad Chambers, Mumbai 400 020. Opera House, Mumbai – 400 004. "थायी लेखा सं./Pan : Aafcs5184H (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

For Respondent: Shri Vikash Kumar Agarwal
Section 143(3)

…. CIT(A) relied on the following cases:- 1. Decision of Hon'ble Supreme court in the case of State Bank of Travancore v. CIT (1986) 158 ITR 102 (SC) 2. Decision of Hon'ble Bombay High Court in the case of Western India Oil Distributing Co. Ltd. v. CIT (1994) 206 ITR 359 (Bom). ITA 6157/Mum/2012 9 3. Decision in the case of Calcutta Co. Ltd v. CIT (1959) 37 ITR 1 (SC). Thus, the ld. CIT(A) confirmed the addition made by the A.O vide appellate orders dated 19.07.2012 . 6. Aggrieved by the appellate order dated 19.07.2012 of the ld. CIT(A), the assessee is in appeal before the Tribunal. 7. The ld. Counsel for…

DEVESH N SHAH,MUMBAI vs. ITO 7(2)(4), MUMBAI

In the result, the appeal filed by the assessee in ITA N0

ITA 778/MUM/2014[2009-10]Status: DisposedITAT Mumbai29 Jul 2016AY 2009-10

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.778/Mum/2014 ("नधा"रण वष" / Assessment Year : 2009-10) Devesh N. Shah, Income Tax Officer, बनाम/ Rashmi Zaveri & Co., 7(2)(4), V. Chartered Accountants, Mumbai. Arham, Ground Floor, Plot 266, Sion (E), Mumbai – 400022. "थायी लेखा सं./Pan : Abvps5960P (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

For Respondent: Shri Sunil Kumar Agarwal
Section 143(3)Section 14ASection 43Section 43(5)(d)

…be set off in the impugned assessment year 2009-10 , it is open to be decided in the impugned assessment year which ratio of law is supported by the decision of Hon’ble Bombay High Court in the case of Western India Oil Distributing Co. Limited v. CIT (1980) 126 ITR 497(Bom.) which was affirmed by Hon’ble Supreme Court in CIT v. Western India Oil Distributing Company Limited reported in (2001) 249 ITR 517(SC). This proposition of law was also followed in one of cases cited by learned counsel of the assessee , decided by the Mumbai Tribunal in Gajendra Kumar T. Agarwal v. ITO reported in (2011) 11 ITR (Trib.) 640…

M/S. STATE BANK OF INDIA,MUMBAI vs. JT. CIT. SPL. RG. - 27, MUMBAI

ITA 3823/MUM/2005[1997-1998]Status: DisposedITAT Mumbai29 Apr 2016AY 1997-1998

Bench: S/Sh.Rajendra & Amit Shuklaआयकर अपील सं./I.T.A. No.3823-24/Mum/2005 िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" /Ay.S.1997-98, 1998-99 वष" State Bank Of India Addl. Cit- Range-2(2) Accounts & Compliance Deptt. Mumbai. Corporate Centre,Madam Cama Road Vs. Mumbai-400 021. Pan:Aaacs 8577 K (अपीलाथ" /Appellant) (""थ" / Respondent) Revenue By: Shri Rajeshwar Yadav Assessee By:Shri Girish Dave सुनवाई की तारीख / Date Of Hearing :02.03.2016 घोषणा की तारीख / Date Of Pronouncement: 29.04.2016 आयकर अिधिनयम,1961 की धारा 254(1)के अ"ग"त आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) खंडपीठ के अनुसार Per Bench: Challenging The Orders Dated 24.3.2005 & 28.3.2005 The Asssessee Has Filed The Appeals For Above Mentioned Two Ay.S Raising Various Grounds Of Appeal. It Has Also Filed Additional Grounds Of Appeal For The Ay 1997-98.Assessee,A Public Sector Bank Is Engaged In The Business Of Banking.The Details Of Filing Of Returns, Returned Income Etc., For Both The Years Can Be Summarised As Under : A.Y. Roi Filed Returned Assessment Assessed Dt. Of Orders On Income(Rs.) Dt. Income(Rs.) Of Cit(A) 1997-98 28.11.1997 2086,56,04,580/- 27.03.2000 2433,18,77,427/- 24.3.2005 1998-99 30.11.1998 2816,41,01,920/- 14.02.2001 3558,87,03,620/- 28.3.2005

For Appellant: Shri Girish DaveFor Respondent: Shri Rajeshwar Yadav
Section 254(1)

…ollowed by the appellant. Reliance in this regard is placed on State Bank of tate Bank of 3823-24/M/05-SBI Travancore vs. CIT 158 ITR 102, 155 (SC) which was Travancore vs. CIT 158 ITR 102, 155 (SC) followed in Western India Oil Distributing Co. Ltd. Vs. CIT 206 ITR 359 (Bom). ITR 359 (Bom). It was held in this decision that the concept of real income should not be so read as to defeat the provisions of the Act. Extension of the concept of real income to a field so as to negate accrual after the amount had become receivable is contrary to the postulates of the Act, the Supreme Court held (p. 146 of 158 ITR). Mor…