going concern — 477 case laws

Dow Chemicals International Private Limited, Mumbai vs. Deputy Commissioner of Income Ta-14(1)(2), Mumbai

ITA 1200/MUM/2023[2018-2019]Status: DisposedITAT Mumbai25 Nov 2024AY 2018-2019

Bench: Shri Narendra Kumar Billaiyashri Sandeep Singh Karhail

For Appellant: Shri Rajan VoraFor Respondent: Ms. Rajeshwari Menon, Sr. AR /

Section 142(1)Section 143(2)Section 143(3)Section 250Section 32

various assets and liabilities transferred from the amalgamating company to the assessee company: "5.2 - The entire business of the Transferor Company as going concerns and all the properties whether movable or immovable, real or personal, corporeal or incorporeal, present or contingent including but without being limited to all assets, authorized

Steel City Beverages Limited, New Delhi vs. ITO, Ward-24(1), New Delhi

In the result the appeal of the assessee ispartly allowed for statistical purpose

ITA 3133/DEL/2023[2018-19]Status: DisposedITAT Delhi25 Nov 2024AY 2018-19

Bench: Sh.M. Balaganesh & Sh. Sudhir Kumarassessment Year: 2018-19 Steel City Beverages Vs Ito Limited, C/O Advocate Ward- 24 (1) Kanika Jain D-80, Lgf New Delhi Panchsheel New Delhi - 1110017 Pan No.Aaccs3967M (Appellant) (Respondent)

Section 142Section 143Section 143(2)Section 143(3)Section 36Section 40Section 40ASection 47A(7)

incurred much ahead of time as the services of the employees with the assessee were terminated. Tribunal also found that the assessee was a going concern and only one of its department was closed. The assessee had not wound up all of it affairs. Only a part of its business

M/S Punjab Tourism Developmenet Corporation Limited, Chandigarh vs. DCIT, Circle-1(1), Chandigarh

Appeal of the assessee is allowed

ITA 142/CHANDI/2020[2016-17]Status: DisposedITAT Chandigarh18 Nov 2024AY 2016-17

Bench: Ao)

For Appellant: Sh.Tejmohan Singh, Adv. and Sh. Vineet Khurana, C. AFor Respondent: Sh.Vivek Vardhan, JCIT, Sr. D. R

Section 142(1)Section 143(2)Section 253

142/CHD/2020 A.Ys. 2012-13 and 2014-15 to 2016-17 11 and few petrol pumps in earlier years, the Assessee Corporation is a going concern as some little business, legal cases, staff payment, Management of remaining assets etc. had to be performed. The ld. AR in respect of amount ... Rs.71,22,923/0]. We respectfully do not subscribe to the said views of Revenue as the assessee is in the position of “going concern” and is required to remain floated. In order to remain floated; the Administrative Expenses are must otherwise Assessee Company would not get any value in event

M/S Punjab Tourism Developmenet Corporation Limited, Chandigarh vs. DCIT, Circle-1(1), Chandigarh

Appeal of the assessee is allowed

ITA 141/CHANDI/2020[2015-16]Status: DisposedITAT Chandigarh18 Nov 2024AY 2015-16

Bench: Ao)

For Appellant: Sh.Tejmohan Singh, Adv. and Sh. Vineet Khurana, C. AFor Respondent: Sh.Vivek Vardhan, JCIT, Sr. D. R

Section 142(1)Section 143(2)Section 253

142/CHD/2020 A.Ys. 2012-13 and 2014-15 to 2016-17 11 and few petrol pumps in earlier years, the Assessee Corporation is a going concern as some little business, legal cases, staff payment, Management of remaining assets etc. had to be performed. The ld. AR in respect of amount ... Rs.71,22,923/0]. We respectfully do not subscribe to the said views of Revenue as the assessee is in the position of “going concern” and is required to remain floated. In order to remain floated; the Administrative Expenses are must otherwise Assessee Company would not get any value in event

M/S Punjab Tourism Developmenet Corporation Limited, Chandigarh vs. DCIT, Circle-1(1), Chandigarh

Appeal of the assessee is allowed

ITA 140/CHANDI/2020[2014-15]Status: DisposedITAT Chandigarh18 Nov 2024AY 2014-15

Bench: Ao)

For Appellant: Sh.Tejmohan Singh, Adv. and Sh. Vineet Khurana, C. AFor Respondent: Sh.Vivek Vardhan, JCIT, Sr. D. R

Section 142(1)Section 143(2)Section 253

142/CHD/2020 A.Ys. 2012-13 and 2014-15 to 2016-17 11 and few petrol pumps in earlier years, the Assessee Corporation is a going concern as some little business, legal cases, staff payment, Management of remaining assets etc. had to be performed. The ld. AR in respect of amount ... Rs.71,22,923/0]. We respectfully do not subscribe to the said views of Revenue as the assessee is in the position of “going concern” and is required to remain floated. In order to remain floated; the Administrative Expenses are must otherwise Assessee Company would not get any value in event

M/S Punjab Tourism Developmenet Corporation Limited, Chandigarh vs. DCIT, Circle-1(1), Chandigarh

Appeal of the assessee is allowed

ITA 139/CHANDI/2020[2012-13]Status: DisposedITAT Chandigarh18 Nov 2024AY 2012-13

Bench: Ao)

For Appellant: Sh.Tejmohan Singh, Adv. and Sh. Vineet Khurana, C. AFor Respondent: Sh.Vivek Vardhan, JCIT, Sr. D. R

Section 142(1)Section 143(2)Section 253

142/CHD/2020 A.Ys. 2012-13 and 2014-15 to 2016-17 11 and few petrol pumps in earlier years, the Assessee Corporation is a going concern as some little business, legal cases, staff payment, Management of remaining assets etc. had to be performed. The ld. AR in respect of amount ... Rs.71,22,923/0]. We respectfully do not subscribe to the said views of Revenue as the assessee is in the position of “going concern” and is required to remain floated. In order to remain floated; the Administrative Expenses are must otherwise Assessee Company would not get any value in event

The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad vs. Suzlon Energy Ltd., Ahmedabad

In the result the Ground Nos

ITA 303/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2017-18

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 143(3)Section 14A

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri T.R. SENTHIL KUMAR, Judicial Member And Shri Makarand Vasant

The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad vs. Suzlon Energy Ltd., Ahmedabad

In the result the Ground Nos

ITA 302/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2016-17

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 143(3)Section 14A

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri T.R. SENTHIL KUMAR, Judicial Member And Shri Makarand Vasant

Suzlon Energy Ltd., Ahmedabad vs. The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad

In the result the Ground Nos

ITA 199/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2017-18

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 143(3)Section 14A

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri T.R. SENTHIL KUMAR, Judicial Member And Shri Makarand Vasant

Suzlon Energy Ltd., Ahmedabad vs. The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad

In the result the Ground Nos

ITA 198/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2016-17

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 143(3)Section 14A

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri T.R. SENTHIL KUMAR, Judicial Member And Shri Makarand Vasant

ITO, Lower Parel vs. Sohit Shravankumar Sadh, Lower Parel

In the result, the appeal filed by the Revenue is dismissed

ITA 3180/MUM/2024[2018]Status: DisposedITAT Mumbai12 Nov 2024

Bench: Ms. Kavitha Rajagopal, Jm & Shri Girish Agrawal, Am Income Tax Officer Sohit Shravankumar Sadh Room No. 213, 3Rd Floor, A-2, Unit No. 79, Shah & Amp, Piramal Chambers, Lalbaug, Vs. Nahar Industrial Estate, Mumbai – 400 012 S J Road, Mumbai-400 013

For Appellant: Shri Prakash JhunjhunwalaFor Respondent: Shri Rajesh Meshram

Section 143(2)Section 143(3)Section 250Section 56(2)(x)

unit (EOU)) with all its assets and liabilities which includes Industrial Gala nos. 85 to 86 from M/s. SK International Export Co. as a going concern for a slum sale consideration of Rs.30 lacs vide agreement for slum sale dated 29.04.2016 w.e.f. 01.04.2016. The assessee’s contention is that ... case of Premier Automobiles vs. ITO [2003] 264 ITR 193 which has held that the sale of the entire undertaking as a ‘going concern’ will be a ‘slum sale’ and not acquisition of individual assets. The assessee has also relied on the decision of jurisdictional co-ordinate bench