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48 results for “disallowance”+ Section 116clear

Sorted by relevance

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Key Topics

Section 80P55Section 14A37Addition to Income28Section 143(3)25Disallowance24Deduction23Section 271(1)(c)16Section 5416Section 54F16Section 80P(2)(d)

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIR.-3, SURAT vs. SH. HARESHBHAI MOHANBHAI SAKARIYA, SURAT

In the result, Revenue’s appeal is dismissed

ITA 48/SRT/2021[2017-18]Status: DisposedITAT Surat25 May 2022AY 2017-18

Bench: Shri Pawan Singh & Dr. Arjun Lal Sainiit(Ss)A No.01/Srt/2021 (Ay 2010-11) It(Ss)A No.09/Srt/2020 (Ay 2014-15) (Hearing In Physical Court) Deputy Commissioner Of Shri Dineshchandra D Income-Tax, Central Circle- Koradia, 3Room No.507, 5Th Floor, 9/10, Dayanand Society, Aayakar Bhawan, Majura B/H.Navyug College, Gate, Surat-395001 Rander Road, Surat Pan No: Acupk 3696 A Assistant Commissioner Of Vs Income-Tax, Central Circle-3, Room No.507, 5Th Floor, Aayakar Bhawan, Majura Gate, Surat-395001 Appellant / Revenue Respondent /Assessee

Section 132Section 132(1)Section 143(3)Section 14ASection 153ASection 153CSection 158BSection 254(1)

disallowance of interest paid on various unsecured loan of Rs. 20,02,042/-. 3. Aggrieved by the addition made in assessment order and validity of order passed under section 153A, the assessee filed appeal before Ld. CIT(A). Before ld CIT(A) besides challenging AYs 10-11, 14-15, 15-16 & 17-18 Dineshchandra D Koradia, Nagjibhai M Sakariya

Showing 1–20 of 48 · Page 1 of 3

15
Section 80I14
Natural Justice10

M/S. S.D. MINERALS PVT.LTD.,SURAT vs. THE JT.CIT.,(OSD)CIRCLE-4,, SURAT

In the result, the appeal of the assessee stands allowed

ITA 554/SRT/2019[2009-10]Status: DisposedITAT Surat03 Feb 2020AY 2009-10

Bench: Shri Sandeep Gosain & Shri O.P.Meena, Accoutant Member आ.अ.सं/.I.T.A No.554/Srt/2019 िनधा"रण वष"/Assessment Year:2009-10 M/S. S.D. Minerals Pvt. Ltd., Joint Commissioner Of 3009, World Trade Centre, Income-Tax Circle –4 Ring Road Surat 395002 (Osd)Surat Pan: Aakcs 3533 K अपीलाथ" Appellant ""यथ"/Respondent

Section 133(6)Section 143(3)Section 40ASection 40A(3)

disallowed under section 40A(3) of the Act, in view In view of erstwhile Rule 6DD(j) read with judgement of Hon`ble Supreme Court in the case of Attar Singh Gurmukh Singh v. ITO [1991] 59 Taxman 11 (SC). Therefore, the appeal of the assessee is squarely covered by the above case law of Hon’ble Gujarat High Court

NAVAGAM VIBHAG SEVA SAHKARI MANDLI LTD,NA vs. ARIVS.ITO, WARD 3 , NAVSARI

In the result, all the appeals filed by the assessee are hereby dismissed

ITA 87/SRT/2025[2015-16]Status: DisposedITAT Surat15 Jul 2025AY 2015-16

Bench: Shri Siddhartha Nautiyal & Shri Bijayananda Pruseth

For Appellant: Shri Sujesh C. Suratwala, CAFor Respondent: Shri Ajay Uke, Sr. DR
Section 143(1)Section 154Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)Section 8O

disallowed under section u/s 80P which is voidab initio hence rejection of deduction is bad in law. ITA Nos.86to89/Srt/2025 & 91/Srt/2025 Navgam Vibhag Seva Sahkari Mandli Ltd. vs. ITO & Mogar Partapore Vibhag Seva Sahkari Mandli Ltd. vs. DCIT Asst. Year –2012-13, 2015-16, 2016-17, 2018-19 - 5– 4. The learned (AO) CPC-Bengaluru erred in making addition

NAVAGAM VIBHAG SEVA SAHKARI MANDLI LTD,NA vs. ARIVS.ITO, WARD-3, NAVSARI

In the result, all the appeals filed by the assessee are hereby dismissed

ITA 89/SRT/2025[2018-19]Status: DisposedITAT Surat15 Jul 2025AY 2018-19

Bench: Shri Siddhartha Nautiyal & Shri Bijayananda Pruseth

For Appellant: Shri Sujesh C. Suratwala, CAFor Respondent: Shri Ajay Uke, Sr. DR
Section 143(1)Section 154Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)Section 8O

disallowed under section u/s 80P which is voidab initio hence rejection of deduction is bad in law. ITA Nos.86to89/Srt/2025 & 91/Srt/2025 Navgam Vibhag Seva Sahkari Mandli Ltd. vs. ITO & Mogar Partapore Vibhag Seva Sahkari Mandli Ltd. vs. DCIT Asst. Year –2012-13, 2015-16, 2016-17, 2018-19 - 5– 4. The learned (AO) CPC-Bengaluru erred in making addition

MOGAR PARTAPORE VIBHAG SEVA SAHKARI MANDLI LTD,NA vs. ARIVS.DCIT, NAVSARI CIRCLE , NAVSARI

In the result, all the appeals filed by the assessee are hereby dismissed

ITA 91/SRT/2025[2015-16]Status: DisposedITAT Surat15 Jul 2025AY 2015-16

Bench: Shri Siddhartha Nautiyal & Shri Bijayananda Pruseth

For Appellant: Shri Sujesh C. Suratwala, CAFor Respondent: Shri Ajay Uke, Sr. DR
Section 143(1)Section 154Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)Section 8O

disallowed under section u/s 80P which is voidab initio hence rejection of deduction is bad in law. ITA Nos.86to89/Srt/2025 & 91/Srt/2025 Navgam Vibhag Seva Sahkari Mandli Ltd. vs. ITO & Mogar Partapore Vibhag Seva Sahkari Mandli Ltd. vs. DCIT Asst. Year –2012-13, 2015-16, 2016-17, 2018-19 - 5– 4. The learned (AO) CPC-Bengaluru erred in making addition

NAVAGAM VIBHAG SEVA SAHKARI MANDLI LTD.,NA vs. ARIVS.ITO, WARD 3 , NAVSARI

In the result, all the appeals filed by the assessee are hereby dismissed

ITA 86/SRT/2025[2012-13]Status: DisposedITAT Surat15 Jul 2025AY 2012-13

Bench: Shri Siddhartha Nautiyal & Shri Bijayananda Pruseth

For Appellant: Shri Sujesh C. Suratwala, CAFor Respondent: Shri Ajay Uke, Sr. DR
Section 143(1)Section 154Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)Section 8O

disallowed under section u/s 80P which is voidab initio hence rejection of deduction is bad in law. ITA Nos.86to89/Srt/2025 & 91/Srt/2025 Navgam Vibhag Seva Sahkari Mandli Ltd. vs. ITO & Mogar Partapore Vibhag Seva Sahkari Mandli Ltd. vs. DCIT Asst. Year –2012-13, 2015-16, 2016-17, 2018-19 - 5– 4. The learned (AO) CPC-Bengaluru erred in making addition

NAVAGAM VIBHAG SEVA SAHAKARI MANDLI LTD,NA vs. ARIVS.INCOME TAX OFFICER, WARD 3 , NAVSARI

In the result, all the appeals filed by the assessee are hereby dismissed

ITA 88/SRT/2025[2016-17]Status: DisposedITAT Surat15 Jul 2025AY 2016-17

Bench: Shri Siddhartha Nautiyal & Shri Bijayananda Pruseth

For Appellant: Shri Sujesh C. Suratwala, CAFor Respondent: Shri Ajay Uke, Sr. DR
Section 143(1)Section 154Section 80PSection 80P(2)(a)Section 80P(2)(d)Section 80P(4)Section 8O

disallowed under section u/s 80P which is voidab initio hence rejection of deduction is bad in law. ITA Nos.86to89/Srt/2025 & 91/Srt/2025 Navgam Vibhag Seva Sahkari Mandli Ltd. vs. ITO & Mogar Partapore Vibhag Seva Sahkari Mandli Ltd. vs. DCIT Asst. Year –2012-13, 2015-16, 2016-17, 2018-19 - 5– 4. The learned (AO) CPC-Bengaluru erred in making addition

M/S SUMILON INDUSTRIES PVT. LTD.,SURAT vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX - 1, SURAT

In the result, appeal of the assessee is allowed

ITA 87/SRT/2022[2017-18]Status: DisposedITAT Surat10 Feb 2023AY 2017-18

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.87/Srt/2022 ("नधा"रणवष" / Assessment Year: (2017-18) (Physical Court Hearing) M/S Sumilon Industries Pvt. Principal Commissioner Of Ltd. 6-121-A, Vairagini Wadi, Income-Tax-1, Aaykar Bhavan, Vs. Delhi Gate, Surat-395003 Majura Gate, Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcs3567 L (Appellant) (Respondent) िनधा"रती की ओर से /Assessee By : Shri Mukund Bakshi, C.A राज"व क" ओर से /Respondent By: Shri Ashok B. Koli, Cit-D.R

For Appellant: Shri Mukund Bakshi, C.AFor Respondent: Shri Ashok B. Koli, CIT-D.R
Section 14Section 143(3)Section 14ASection 263

disallowance under section 14A read with rule 8D cannot be made as held by the Hon'ble Gujarat High Court in the case of CIT v. Corrtech Energy Pvt. Ltd. [2015]-372 ITR 97 (Guj.): [2014] 45 taxmann.com 116

PRAGATI GLASS PVT. LTD.,,BHARUCH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1 , BHARUCH

In the result, ground No. 4 is allowed

ITA 504/SRT/2018[2013-14]Status: DisposedITAT Surat02 Jul 2021AY 2013-14

Bench: Shri Pawan Singh () & Dr. Arjun Lal Saini () Assessment Year: 2013-14 Pragati Glass Private Limited, Asst. Commissioner Of Income Tax, Kharach, Kosamba (R.S), District Vs. Cir. 1, Bharuch-394120 Station Road, Bharuch-392001. Pan No. Aabcp 7377 H Appellant Respondent

For Appellant: Mr. Surandra Modiani, ARFor Respondent: Ms. Anupama Singla, Sr. DR
Section 115JSection 143(3)Section 14ASection 36(1)(va)

section 14A. The Ld. AR of the assessee submits that during the relevant period for assessment year under consideration the assessee has not earned any exempt income. The Assessing Officer made disallowance by taking view and the assessee has made investment of Rs.1.69 crores and incurred expenses interest expenses of Rs.2.93 crores. The Ld. AR submits that reserve and surplus

SACH ELECTRO MECH PVT. LTD.,,SURAT vs. THE INCOME TAX OFFICER, WARD-2(1)(2),, SURAT

In the result ground No. 4 of the appeal is allowed

ITA 262/AHD/2017[2013-14]Status: DisposedITAT Surat09 Oct 2020AY 2013-14

Bench: Shri Pawan Singh, Hon'Ble & Dr Arjun Lal Saini, Hon'Ble(Virtual Court - Virtual Hearing) आ.अ.सं./I.T.A No.262/Ahd/2017 "नधा"रण वष"/Assessment Year: 2013-14 Sach Electro Mech Pvt. Ltd., V The Income Tax Officer, C/2, Maheshwari Apartment, S Ward-2(1)(2), Surat. Timaliyawad, Nanpura, . Surat – 395 001. [Pan: Aaics 8963 M] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Shri Manish J.Shah – Ar राज"वक"ओरसे /Revenue By Mrs. Anupam Singla – Sr.Dr

Section 143(3)Section 14ASection 2(24)(x)Section 36(1)(v)Section 36(1)(va)Section 37Section 40Section 43B

disallowance under Section 14A of the Act 6 Sach Electro Mech Pvt. Ltd., Vs. ITO, Ward-2(1)(2), Surat ITA No.262/AHD/2017 for A.Y. 2013-14 when no dividend income had been earned by the Assessee in the relevant AY? The Court referred to the decision of this Court in Maxopp Investment Ltd's. case (supra) and to the decision

SHRI DIPESH L. SHAH,,SURAT vs. PR. CIT-2, SURAT, SURAT

In the result, the appeal of the assessee is allowed

ITA 218/SRT/2019[2014-15]Status: DisposedITAT Surat10 Dec 2019AY 2014-15

Bench: Shri Amarjit Singh & Shri O.P.Meenaआ.अ.सं./I.T.A No.218/Srt/2019 "नधा"रणवष"/Assessment Year: 2014-15 Shri Dipesh L Shah, Vs. Principal Commissioner Of 1, Vishal House, Next To Gautam Income-Tax- 2, Surat Market, Kamela Darwaja, Ring Road Surat [Pan: Afsps 3839J] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Shri Rasesh Shah, Ca राज"वक"ओरसे /Revenue By Shri Prasenjit Singh, Cit(D.R.)

Section 143Section 143(3)Section 14ASection 263Section 57Section 8D

disallowance under section 14A read with Rule 8D cannot be made as held by the Hon’ble Gujarat High Court in the case of CIT v. Corrtech Energy Pvt. Ltd. [2015] 372 ITR 97 (Guj): [2014] 45 taxmann.com 116

SMT. KAVITA DIPESH SHAH,SURAT vs. THE PR. CIT-2, SURAT, SURAT

In the result, the appeal of the assessee is allowed

ITA 219/SRT/2019[2014-15]Status: DisposedITAT Surat10 Dec 2019AY 2014-15

Bench: Shri Amarjit Singh & Shri O.P.Meenaआ.अ.सं./I.T.A No.219/Srt/2019 "नधा"रणवष"/Assessment Year: 2014-15 Shri Kavita Dipesh Shah, Vs. Principal Commissioner Of 1, Vishal House, Next To Gautam Income-Tax- 2, Surat Market, Kamela Darwaja, Ring Road, Surat. [Pan: Anhps 4998 R] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Shri Rasesh Shah, Ca राज"वक"ओरसे /Revenue By Shri O.P. Singh, Cit(D.R.)

Section 143Section 143(3)Section 14ASection 263Section 57Section 8D

disallowance under section 14A read with Rule 8D cannot be made as held by the Hon’ble Gujarat High Court in the case of CIT v. Corrtech Energy Pvt. Ltd. [2015] 372 ITR 97 (Guj): [2014] 45 taxmann.com 116

HI CHOICE PROCESSORS PVT.LTD.,,SURAT vs. THE DY. CIT, CIRCLE-1,, SURAT

In the result, the appeal of the assessee is partly allowed

ITA 2922/AHD/2015[2011-12]Status: DisposedITAT Surat05 Jun 2018AY 2011-12

Bench: Shri C.M.Garg & Shri O.P.Meenaआ.अ.सं./I.T.A No.2922/Ahd/2015/Srt िनधा"रण वष"/A.Y.:2011-12 M/S. Hi Choice Processors Pvt. Vs. Deputy Commissioner Of Ltd. , 264 Gidc, Sachin Surat Income-Tax, Central Pan: Aaach 7062E Circle1, Surat अपीलाथ" Appellant ""यथ"/Respondent

Section 143Section 14A

section 14A read with Rule 8D. Thus, where disallowance of expenditure incurred is more than exempt income, it gives distorted results and cannot be seem to be logical. The learned counsel for the assessee placed reliance CIT v. Corrtech Energy Pvt. Ltd. [2015] 372 ITR 97 (Guj): [2014] 45 taxmann.com 116

SHANTAI EXIM LTD.,,AHMEDABAD vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, SURAT

In the result, ITA.No.436/SRT/2018 of the Department is dismissed

ITA 273/SRT/2018[2012-13]Status: DisposedITAT Surat27 Aug 2019AY 2012-13

Bench: Shri Bhavnesh Saini & Shri O.P. Meena

For Appellant: Shri Ketan Shah And Shri Aman Shah, AdvocatesFor Respondent: Shri Sriniwas T. Bidani, CIT-D.R
Section 133A

disallowance. He has relied upon Judgment of Hon’ble Supreme Court in the case of CIT, (Central-1) vs. Chettinad Logistics Pvt. Ltd., [2018] 95 taxmann.com 250 (SC) in which the Hon’ble Supreme Court held that “Section 14A cannot be invoked where no exempt income was earned by the assessee in the relevant assessment year.” Similar view is also

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(2),, SURAT vs. SHANTAI EXIM LTD.,, AHMEDABAD

In the result, ITA.No.436/SRT/2018 of the Department is dismissed

ITA 436/SRT/2018[2012-13]Status: DisposedITAT Surat27 Aug 2019AY 2012-13

Bench: Shri Bhavnesh Saini & Shri O.P. Meena

For Appellant: Shri Ketan Shah And Shri Aman Shah, AdvocatesFor Respondent: Shri Sriniwas T. Bidani, CIT-D.R
Section 133A

disallowance. He has relied upon Judgment of Hon’ble Supreme Court in the case of CIT, (Central-1) vs. Chettinad Logistics Pvt. Ltd., [2018] 95 taxmann.com 250 (SC) in which the Hon’ble Supreme Court held that “Section 14A cannot be invoked where no exempt income was earned by the assessee in the relevant assessment year.” Similar view is also

RUGHNATHPURA SAURASHTRA NAGRIK DHIRAN SAHAKARI MANDLI LTD,SURAT vs. DCIT, CIRCLE-3(1), SURAT

In the result, both the grounds of appeal raised by assessee are dismissed

ITA 551/SRT/2019[2012-13]Status: DisposedITAT Surat23 Nov 2022AY 2012-13

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 143(3)Section 254(1)Section 271(1)(c)Section 274Section 80P(2)

disallowed the interest by taking a view that as per provisions of Section 80P(2), the interest income earned from cooperative society is not eligible for deduction under Section 80P(2) of the Act and initiated penalty under Section 271(1)(c) of the Act. The Assessing officer also made other addition of Rs. 5,24,223/- by taking

RUGHNATHPURA SAURASHTRA NAGRIK DHIRAN SAHAKARI MANDLI LTD,SURAT vs. DCIT, CIRCLE-3(1), SURAT

In the result, both the grounds of appeal raised by assessee are dismissed

ITA 552/SRT/2019[2014-15]Status: DisposedITAT Surat23 Nov 2022AY 2014-15

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 143(3)Section 254(1)Section 271(1)(c)Section 274Section 80P(2)

disallowed the interest by taking a view that as per provisions of Section 80P(2), the interest income earned from cooperative society is not eligible for deduction under Section 80P(2) of the Act and initiated penalty under Section 271(1)(c) of the Act. The Assessing officer also made other addition of Rs. 5,24,223/- by taking

RUGHNATHPURA SAURASHTRA NAGRIK DHIRAN SAHAKARI MANDLI LTD,SURAT vs. DCIT, CIRCLE-3(1), SURAT

In the result, both the grounds of appeal raised by assessee are dismissed

ITA 550/SRT/2019[2008-09]Status: DisposedITAT Surat23 Nov 2022AY 2008-09

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 143(3)Section 254(1)Section 271(1)(c)Section 274Section 80P(2)

disallowed the interest by taking a view that as per provisions of Section 80P(2), the interest income earned from cooperative society is not eligible for deduction under Section 80P(2) of the Act and initiated penalty under Section 271(1)(c) of the Act. The Assessing officer also made other addition of Rs. 5,24,223/- by taking

M/S. BAYER VAPI PRIVATE LTD. (FORMERLY KNOWN AS BILAG INDUSTRIES P. LTD.),VAPI vs. THE ASSTT. COMMISSIONER OF INCOME TAX, VAPI CIRCLE,, VAPI

In the result, the appeal of the assessee is partly allowed for A

ITA 1769/AHD/2016[2011-12]Status: DisposedITAT Surat24 Oct 2019AY 2011-12

Bench: Shri Amarjit Singh & Shri O.P. Meena, Accoutant Member आ.अ.सं/.I.T.A No’S.2886/Ahd/2010, 794/Ahd/2014 & 1769/Ahd/2016 िनधा"रण वष"/Assessment Years:2006-07, 2009-10 & 2011-12 बनाम M/S. Bilag Industries Pvt. Ltd. , Addl. Cit Range- ( Now Known As M/S. Bayer Vapi Vs. Vapi, Range Vapi Private Limited) 306/3,Phase-Ii Shivam Commercial Complex Gidc-1, Vapi Gujarat National Highway No 8 Vapi Pan: Aabcb 2100 L अपीलाथ" Appellant ""यथ"/Respondent Shri A. Gopalakrishnan Aiyer - Ca िनधा"रती क" ओर से /Assessee By Shri O. P. Singh Cit (D.R.) राज"व क" ओर से /Revenue By 26.09.2019 सुनवाई क" तारीख/ Date Of Hearing: 24.10.2019 उ"ोषणा क" तारीख/Pronouncement On आदेश /O R D E R Per O. P. Meena, Am: 1. The Above Captioned Three Appeals For The Assessment Year 2006-07, 2009-10 & 2011-12 By The Assessee Are Directed Against The Assessment Order Passed U/S. 143(3) R.W.S. 144C Dated 28.07.2010 & Dated 15.01.2014 Respectively Under The Income-Tax Act,1961 ['The Act' For Short] On The Direction Of Drp By The Addl. Cit Range-Vapi Range Vapi (Herein After Referred As The Ao) & The Appeal For The Assessment Year 2011-12 By The Assessee Is Directed Against The Order Of Ld. Cit (A) Dated 29.04.2016. Since The Common Issues Are Involved In These Appeals Therefore, These Were Heard Together & Consolidated Order Is Being Passed As Under: It(Tp)A No.2886/Ahd/2010/A.Y. 2006-07/ By The Assessee: 2. Ground Nos.1 Is General In Nature & Do Not Require Adjudication.

For Appellant: 2. Ground Nos.1 is general in nature and do not require adjudication
Section 143(3)

116. The assessee company was asked to explain the basis for ascribing to each of the assets acquired by it since the value of assets in the books of Mitsu Industries was only Rs. 7,19,85,974. It was explained that the Mitsu industries are not a related party under section

M/S. MITSU PRIVATE LIMITED,,VAPI vs. THE ACIT, VAPI CIRCLE,, VAPI

In the result, the appeal of the Revenue is dismissed

ITA 1000/AHD/2016[2002-03]Status: DisposedITAT Surat04 May 2020AY 2002-03

Bench: Shri Sandip Gosain & Shri O. P. Meenav. ""यथ"/Respondent आ.अ.सं././././I "नधा"र अपीलाथ" Appellant S .T.A No. ण N वष"/A Y: 1 1671/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2006 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 2 1371/Ah 2002- Assistant V. M/S. Mitsu Limited, D/2006 03 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q Co.No.1 2002- M/S. Mitsu Limited, V. Assistant 3 84/Ahd/ 03 304/2, Iind Phase, Commissioner Of 2006 Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 4 1672/Ah 2003- M/S. Mitsu Limited, V. Assistant D/2006 04 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 5 1764/Ah 2003- Assistant V. M/S. Mitsu Limited, D/2006 04 Commissioner Of 304/2, Iind Phase, Income Tax-Vapi Gidc, Vapi 396195 Circle, Vapi Pan: Aaccm 2764 Q 6 1000/Ah 2002- M/S. Mitsu Limited, V. Assistant D/2016 03 304/2, Iind Phase, Commissioner Of Gidc, Vapi 396195 Income Tax-Vapi Pan: Aaccm 2764 Q Circle, Vapi 7 3510/Ah 2000- Assistant V. M/S. Mitsu Limited, D/2016 01 Commissioner Of Page 2 Of 83 Mitsu Ltd. V. Acit- Vapi/I.T.A. No.1671-1371,Co-184,1672-1764,1614 &1000/Ahd/2006/A.Y.02-03,03-04,06-07.02-03 Income Tax-Vapi 304/2, Iind Phase, Circle, Vapi Gidc, Vapi 396195 Pan: Aaccm 2764 Q

Section 143

section 80HHC, though same have no direct or immediate nexus with export activity of the assessee a) Restricted exclusion interest income of Rs.44,15,400 as against Rs. 1,88,07,480 b) Exchange rate difference of Rs.1,55,25,673 c) Sale of scrap of Rs. 44,621. The CIT (A) has rightly granted relief on the issue