Case Laws Analysis
REFERRED DCIT v. Alok Industries Ltd. 2020 TaxPub(DT) 2904 (Mum-Trib)
REFERRED Pr. CIT v. Ankit Metal & Power Ltd. 2019 TaxPub(DT) 5189 (Cal-HC)
REFERRED National Small Industries Corp. Ltd. v. Dy. CIT 2019 TaxPub(DT) 1977 (Del-Trib)
REFERRED Vijay Industries v. CIT 2019 TaxPub(DT) 1923 (SC)
REFERRED CIT v. Reliance Industries Ltd. 2019 TaxPub(DT) 1418 (Bom-HC)
REFERRED CIT v. Bengal Finance & Investments (P) Ltd. 2018 TaxPub(DT) 0145 (Bom-HC)
REFERRED CIT v. Glenmark Pharmaceuticals Ltd. 2017 TaxPub(DT) 4865 (Bom-HC)
REFERRED Plastiblends India Ltd. v. Addl. CIT 2017 TaxPub(DT) 4436 (SC)
REFERRED Bharti Airtel Ltd. v. Addl. CIT 2017 TaxPub(DT) 2102 (Del-Trib)
REFERRED Asstt. CIT v. Vireet Investment (P) Ltd. 2017 TaxPub(DT) 1760 (Del-Trib)
REFERRED CIT v. Metal & Chromium Plater (P) Ltd. 2016 TaxPub(DT) 5156 (Mad-HC)
REFERRED CIT & Anr. v. Yokogawa India Ltd. 2016 TaxPub(DT) 5139 (SC)
REFERRED Asstt. CIT v. Jindal Power Ltd. 2016 TaxPub(DT) 3082 (Rai-Trib)
REFERRED CIT v. ITC Ltd. 2015 TaxPub(DT) 5596 (Cal-HC)
REFERRED CIT v. Everest Kento Cylinders Ltd. 2015 TaxPub(DT) 2547 (Bom-HC)
REFERRED Niko Resources Ltd. v. UOI 2015 TaxPub(DT) 1457 (Guj-HC)
REFERRED CIT v. Cotton Naturals (I) Pvt. Ltd. 2015 TaxPub(DT) 1361 (Del-HC)
REFERRED CIT v. Vatika Township (P.) Ltd. 2014 TaxPub(DT) 3934 (SC)
REFERRED Director of IT v. Besix Kier Dabhol SA 2013 TaxPub(DT) 1472 (Bom-HC)
REFERRED CIT v. Black & Veatch Consulting (P.) Ltd. 2012 TaxPub(DT) 2503 (Bom-HC)
REFERRED CIT v. Adbhut Trading Co. (P) Ltd. 2011 TaxPub(DT) 1987 (Bom-HC)
REFERRED Rain Commodities Ltd. v. Dy. CIT 2010 TaxPub(DT) 2079 (Hyd-Trib)
REFERRED Hindustan Unilever Ltd. v. Dy. CIT 2010 TaxPub(DT) 1767 (Bom-HC)
REFERRED Plastiblends India Ltd. v. Addl. CIT 2009 TaxPub(DT) 2088 (Bom-HC)
REFERRED CIT v. Reliance Utilities & Power Ltd. 2009 TaxPub(DT) 1275 (Bom-HC)
REFERRED Asstt. CIT v. Niko Resources Ltd. 2009 TaxPub(DT) 0366 (Ahd-Trib)
REFERRED Asstt. CIT v. Saurashtra Kutch Stock Exchange Ltd. 2008 TaxPub(DT) 2300 (SC)
REFERRED CIT v. Akshay Textiles Trading & Agencies (P) Ltd. 2008 TaxPub(DT) 1145 (Bom-HC)
REFERRED Goetze (India) Ltd. v. CIT 2006 TaxPub(DT) 1528 (SC)
REFERRED Deputy CIT v. Reliance Industries Ltd. 2004 TaxPub(DT) 1014 (Mum-Trib)
REFERRED CIT v. Ramnath Goenka 2003 TaxPub(DT) 0408 (Mad-HC)
REFERRED Ramanand Sagar v. Deputy CIT 2002 TaxPub(DT) 1187 (Bom-HC)
REFERRED CIT v. Veekaylal Investment Co. (P) Ltd. 2001 TaxPub(DT) 1104 (Bom-HC)
REFERRED CIT v. Mahendra Mills 2000 TaxPub(DT) 1304 (SC)
REFERRED Motilal Pesticides (I) (P) Ltd. v. CIT 2000 TaxPub(DT) 1241 (SC)
REFERRED National Thermal Power Co. Ltd. v. CIT 1998 TaxPub(DT) 0342 (SC)
REFERRED CIT v. Kotagiri Industrial Co-Operative Tea Factory Ltd. 1997 TaxPub(DT) 1133 (SC)
REFERRED H.H. Sir Rama Varma v. CIT 1994 TaxPub(DT) 0800 (SC)
REFERRED Radhasoami Satsang v. CIT 1992 TaxPub(DT) 0858 (SC)
REFERRED Additional CIT v. Solar Chemicals Pvt. Ltd. 1991 TaxPub(DT) 0926 (All-HC)
REFERRED Brooke Bond & Company Ltd. v. CIT 1986 TaxPub(DT) 1784 (SC)
REFERRED CIT v. Kirloskar Oil Engines Ltd. 1986 TaxPub(DT) 0320 (Bom-HC)
REFERRED Distributors (Baroda) P. Ltd. v. Union of India & Ors. 1985 TaxPub(DT) 1293 (SC)
REFERRED Kapurchand Shrimal v. CIT 1981 TaxPub(DT) 0971 (SC)
REFERRED Cloth Traders (P) Ltd. v. CIT 1979 TaxPub(DT) 1028 (SC)
REFERRED Cambay Electric Supply Industrial Co.Ltd. v. CIT 1978 TaxPub(DT) 0947 (SC)
REFERRED P.K. Badiani v. CIT 1976 TaxPub(DT) 0836 (SC)
REFERRED CIT v. R. Dalmia 1974 TaxPub(DT) 0211 (Del-HC)
REFERRED Western States Trading Co. (P) Ltd. v. CIT 1971 TaxPub(DT) 0308 (SC)
REFERRED CIT v. Bhavnagar Trust Corporation (P) Ltd. 1968 TaxPub(DT) 0188 (Guj-HC)
REFERRED CIT v. Shrikishan Chandmal 1966 TaxPub(DT) 0125 (MP-HC)
REFERRED CIT v. Cocanada Radhaswami Bank Ltd. 1965 TaxPub(DT) 0304 (SC)
REFERRED Indra Singh & Sons Ltd. v. CIT 1958 TaxPub(DT) 0057 (Cal-HC)
REFERRED Ezra Proprietary Estates Ltd. v. CIT 1950 TaxPub(DT) 0003 (Cal-HC)
REFERRED Kilburn Properties Ltd. v. CIT 1949 TaxPub(DT) 0017 (Cal-HC)
 
The Tax Publishers2020 TaxPub(DT) 5001 (Mum-Trib)

INCOME TAX ACT, 1961

Section 4

Sales-tax incentive/subsidy was a capital receipt not chargeable to tax following decision in assessee's own case in earlier years as precedent.

Income - Capital or revenue receipt - Sales-tax incentive/Subsidy -

Assessee was engaged in the business of oil and gas exploration, refining of crude oil, manufacturing of and trading in petro-chemicals, polyester, fiber intermediates, textiles, generation and distribution of power, operation of jetties and related infrastructure, retail marketing of petroleum products and investments. On this issue addition was made by the AO bringing to tax sales tax incentive receipt, which was claimed by the assessee as capital receipt not liable to tax. CIT(A) had allowed the appeal on this issue by referring to several case laws from ITAT in assessee's own case from assessment years 2007-08 to 2012-13. Held: The ITAT in assessee's own case in a number of orders for preceding years had decided the issue in favour of the assessee and the same order had not been reversed by Jurisdictional High Court. Accordingly, following the doctrine of stare decisis the order of CIT(A) was upheld.

Followed:(2004) 88 ITD 273 (Mum) : 2004 TaxPub(DT) 1014 (Mum-Trib).

REFERRED :

FAVOUR : In favour of assessee.

A.Y. : 2013-14


INCOME TAX ACT, 1961

Section 32(1)

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