Assistant Commissioner of Income Vs. Concord Commercials (P) Ltd.

Decided On : Jan-28-2005

Court : Income Tax Appellate Tribunal ITAT Mumbai

LAW: Section 255(3, the IT Act, Section 73, the IT Act, Explanation to Section 73, Explanation to Section 73, Section 73, Section 80B(5, the Explanation to Section 73, Section 70, Section 71, the IT Act, Section 73, Section 73, the IT Act, Section 73, Section 73, Section 43(5, the Explanation to Section 73, Explanation to Section 73, Explanation to Section 73, the IT Act, Section 109, the Finance Act, the Finance Act, Section 24(2, the IT Act, Explanation to Section 73, the Explanation to Section 73, the IT Act, Explanation to Section 73, Explanation to Section 73, Section 109, Section 73, the IT Act, the Explanation of Section 73, Section 80B(5, Chapter VI-A, Chapter VI, Section 73, Section 73, Section 70, the Explanation to Section 73, the Explanation to Section 73, the Explanation to Section 73, Section 6, Indian IT Act, Section 8, Explanation to Section 73, the IT Act, Section 73, the Explanation to Section 73, Explanation to Section 73, the Explanation to Section 73, Section 80B, Section 80B, Chapter VI-B, Section 73, the Explanation to Section 73, the Explanation to Section 73, the IT Act, the IT Act, the Explanation to Section 73, the IT Act, the IT Act, Section 104, Section 109, Section 109, Section 104, the Finance Act, Section 73, Section 14, the IT Act, Section 8, Section 8, Section 6 of the 1922 Act, Section 6 of 1922 Act, Section 6, Section 6, Section 56, the IT Act, Section 6, Section 24(2, Section 24(2, Section 6, Section 6, Section 24, Section 6, Section 24, Section 6, Section 12, Section 6 of the 1922 Act, Section 14 of the 1961 Act, Section 6, Section 8, Section 18 of 1961 Act, Section 10 of the 1922 Act, Section 28(1, the IT Act, Section 32AB, Section 73, Explanation to Section 73, Section 80B(5, Section 73, Section 73, Section 73, Section 80B(5).51, Section 73, Section 73

CARDINAL: 1, 208, 2, 1, 2, 97,358, 9,21,556, 3, 97,358, 4, 97,358, 5, 6, 8), 9, more than one, one, 192, 204, 10, 11, 37(2A, 45, 49, 43, 12, 70 and 71, 13, 6, 2002)Manasi, 7, 70, 228, 75, 24, 86, 15, 1, two, 2, 204, 3, 4, 5, 9, 10,18,914, 6, 105, one, less than fifty-one, 8), 10,18,914, 80, 2, 2, 10, 97,358, one, one, 13, 4,26,051 + 13,24,800, 15, 7, 10, 133, 205, 3346, 12, 13, 1, 2, one, 3, 4, 5, 6, 32, 57, 8), 9, 3,87,603, 10, 97,358, two, 11, 12, 13, 14, two, two, 15, 16, 3, 5, 7, 9, 10, 12, 435, 13, 14, 18, 19, 21, 22, 24, 660, 25, 26, 27, 17, 20, 18, 20, 21, 22, 23, 24, 17, 2 to Section 28, two, 19, two, two, two, two, two, three, yrs.1951-52, four, 812, 813, ten, 50, one, less than fifty-one, fifty-one, 28, two, one, two, two, 97,358, 10,18,914, 97,358, 33, 61, 55, one, 310, 57, 36, two, one, 1, 2, 2, 1, 1A, 40, 155, 3,87,603, 10,18,914, 97,358, two, 204, 237, 1, two, 2, two, 3, 4

DATE: 1961, 1994, 1023, 1989-90, 10,18,914 (+, the previous year, 1991, 24th July, 1976, 1977, 21, 32, 70 and, 71, 44C, 1961, 1993, 1992, 1961, 5220, 5th July, July, 1430, 1431, March, 1993, May, 2001, 2001, 2000, 1986, 1986, 24th July, 1976, assessment year, 2,83,29,053, a year, year, 1961, a particular previous year, Section 2(6)(c, 1969, Section 2(6)(c, 1969, 1971, 21, earlier years, the current year, 1922, 1961, a particular assessment year, 1982, 1994, 70, 71, 1957, 1965, 1922, 1961, an year, year, 1733, 27th April, 30th March, 1993, 8th June, 1993, 2157, 28th June, 1993, Sept., 1993, Oct., 1993, Aug., 1994, 3359, 3360, Sept., 1998, Feb., 1999, 28th Dec., 1998, 8927, Sept., 1998, 17th Sept., 1998, 2331, 3rd Aug., 1998, 27th April, 1996, Dec., 1997, 28th Nov., 2000, 8902, May, 2001, 13th July, 1998, 5th July, 2002, 6947, 21st Nov., 2002, 2000, 27th May, 2003, 24th March, 2003, 6972, Sept., 2001, Oct., 2001, 12 years, 1992, 2004, 30th May, 2001, 1996, 1999, 1961, 1961, 1961, 1961, 1968-69, 1969-70, 1971-72, 1972-73, 27 years, four assessment years, all other assessment years, Section 2(6)(c, 1969, years, a given assessment year, a particular assessment year, past 27 years, four assessment years, years, 1922, 1966, 1965, 1965, 1961, year, the same year, one year, the subsequent year or years, the previous year, 1985, 24th July, 1976, 1999

ORG: Hon'ble Calcutta High Court, Eastern Aviation &amp, Industries Ltd., CIT, Court, Shri K.C. Naredi, CIT, Bench, Department, Court, CIT, ITO, Bench, Special Bench, Bench, Bench, CIT, AO, AO, AO, Explanation, AO, CIT, Arvind Investments Ltd., CBDT Circular, AO, AO, Sections, Explanation, Reliance, Sons, TTJ, CM, ITD 308, AO, Sections, Tribunal, Explanation, AO, ITA No, Hon'ble Calcutta High Court, Eastern Aviation &amp, Industries Ltd., CIT, Tribunal, Explanation to Section 73, CIT, Pams Investments &amp, Trading Co., P) Ltd., Asstt, CIT, Trading Enterprises Ltd., Asstt, CIT, Tribunal, ITO, Srichakra Textiles, P) Ltd., Prudential Construction Co. Ltd., Asstt, CIT, TTJ, ITD 338, India Ltd., ITO, TTJ, ITD 549, Tribunal, Shri K.G. Naredi, CIT, Shri Naredi, Merfin (India) Ltd. v. Dy, CIT, CBDT Circular, Reliance, Sections 104, CIT, CBDT, Western States Trading Co., CIT, SC, UTI, Tribunal, UTI, UTI, the High Court, UTI, UTI, Corpn., CIT, Srichakra Textiles, P) Ltd., AO, Tribunal, CIT, Amritalal &amp, Co. Ltd., Tribunal, 1961.Western States Trading Co., CIT, Tribunal, Hon'ble apex Court, Western States Trading Co., P) Ltd., Tribunal, Srichakra Textiles, P) Ltd., Tribunal, CIT, CIT, CIT, New India Investment Corpn., ITR 618, CIT, Chaturvedi &, CIT, Shri J.D. Mistry, Explanation, Sri Ranga Vilas Ginning &amp, CIT, CIT, Seshaiah &amp, Co., Navnitlal Ambalal, CIT, CIT, New India Investment Corpn., Merfin (India) Ltd. v. Dy, CIT, CIT, Shri J.D. Mistry, the Supreme Court, United Commercial Bank Ltd., CIT, SC, CIT, Cocanada Radhaswami Bank Ltd., SC, United Commercial Bank Ltd., CIT, the Supreme Court, Court, the Supreme Court, CIT, Cocanada Radhaswami Bank Ltd., the Supreme Court, Western States Trading Co., CIT, Apollo Tyres Ltd., CIT, Eastern Aviation &amp, Industries Ltd., CIT, the Calcutta High Court, Aryasthan Corporation Ltd., CIT, Calcutta High Court, the Bombay High Court, CIT, Amritlal &amp, Co. Ltd., Andhra Pradesh High Court, CIT, Courts, Tribunal, ITO, Srichakra Textiles, P) Ltd., Tribunal, the Supreme Court, Western States Trading Co., CIT, the Bombay High Court, CIT, Amritlal &amp, Co. Ltd., Tribunal, Srichakra Textiles, P) Ltd., Tribunal, Reliance Transport &amp, Travels Ltd., CIT, Asstt, CIT, Adamson Commercials Ltd., CIT, Asstt, CIT, Sanket Commercials Ltd., CIT, CScotline Trading Ltd., Asstt, CIT, Asstt, CIT, Asstt, CIT, Vision Trading Co., P) Ltd., ITA Nos, BManor Trading Ltd., Asstt, CIT, Santoor Commercials Ltd., Asstt, CIT, Asstt, CIT, Crator Trading Enterprises Ltd., Asstt, CIT, P) Ltd., Asstt, CIT, CIT, Bloom Trading Co., P) Ltd., BVision Trading Co., Asstt, CIT, Asstt, CIT, Hero Textiles &amp, Trading Ltd., ITO, Akhil Fabrics Ltd., Asstt, CIT, CIT v. Pams Investment &amp, Trading Co. Ltd., CIT, Radiant Texfabs Ltd., Asstt, CIT, Kunjvan Texfabs Ltd., CIT, CIT v. Ascent Trade Corpn., ITA No, ITO, Vosdon Trading Co. Ltd., Asstt, CIT, Sinora Trading Ltd., Tribunal, Tribunal, Tribunal, Srichakra Textiles, P) Ltd.'s, the Tribunal in Srichakra Textiles, P) Ltd.'s, Tribunal, the Bombay High Court, CIT, Amritlal &amp, Co. Ltd., Tribunal, Srichakra Textiles, P) Ltd., CIT, Bloom Trading Co., P) Ltd., Utkarsh Textiles Trading Ltd., Asstt, CIT, Srichakra Textiles, P) Ltd., States Trading Co., CIT, Tribunal, Srichakra Textiles, P) Ltd., CIT, Pams Investments &amp, Trading Co., P) Ltd., CIT, Radiant Texfabs Ltd., Andhra Pradesh High Court, CIT, Tribunal, Sitcon Commercials, Asstt, CITContony Trading Enterprises Ltd., Asstt, CIT, Adamson Commercials Ltd., CIT, Sanket Commercials Ltd., CIT, Rajniketan Traders Ltd., Asstt, CIT, the Calcutta High Court, Eastern Aviation &amp, Industries Ltd., CIT, Tribunal, Santoor Commercials Ltd., Asstt, CIT, Utkarsh Textiles Trading Ltd., Asstt, CIT, Calcutta High Court, CIT, Arvind Investments Ltd., Tribunal, ITO, Akhil Fabrics Ltd., Sinora Trading Ltd., Asstt, CIT, Tribunal, Srichakra Textiles, P) Ltd., Tribunal, Kunjvan Texfabs Ltd., CIT, CIT v. Ascent Trade Corpn. Ltd., Tribunal, AO, CIT, Explanation, Explanation, Explanation, Explanation to Section 73, Explanation, the Bombay High Court, CIT, Amritlal &amp, Co. Ltd., Andhra Pradesh High Court, CIT, Amritlal &amp, Co. Ltd.'s, Court, Section 104, Section 104, Court, Court, Court, Court, Court, Court, CIT, Amritlal &amp, Co., Nava Bharat Enterprises, CIT, Court, Court, CBDT, Department, Department, Department, Explanation, Court, CIT, Amritlal &amp, Co., Amritlal &amp, Co., the Supreme Court, Nalinikant Ambalal Mody v., CIT, SC, The Supreme Court, United Commercial Bank Ltd., CIT, Court, Court, the Supreme Court, CIT, Chugandas &amp, Co., SC, CIT, Cocanada Radhaswami Bank Ltd., the Supreme Court, Court, Court, Court, CIT, Cocanada Radhaswami Bank Ltd., SC, the High Court, the Supreme Court, United Commercial bank Ltd., CIT, CIT, Cocanada Radhaswami Bank Ltd., the Supreme Court, Western States Trading Co., Western States Trading Co., CIT, the Supreme Court, Court, Court, CIT, the Supreme Court, Court, CIT, Cocanada Radhaswami Bank Ltd., CIT, Cocanada Radhaswami Bank Ltd., the Supreme Court, CIT, Cocanada Radhaswami Bank Ltd., the Supreme Court, United Commercial Bank Ltd., CIT, United Commercial Bank Ltd., CIT, CIT, Cocanada Radhaswami Bank Ltd., the Supreme Court, Western State Trading Co., CIT, the Supreme Court, Court, Court, Apollo Tyres Ltd., CIT, the Supreme Court, Unit Trust of India, The Supreme Court, Tribunal, Court, The Supreme Court, Western States Trading Co., P) Ltd., Apollo Tyres Ltd., United Commercial Bank Ltd.'s, Cocanada Radhaswami Bank Ltd. 's, Court, Court, Western States Trading Co., CIT, Apollo Tyres Ltd., CIT, CIT, Mother India Refrigeration Industries, SC, the Supreme Court, Explanation, the Calcutta High Court, Eastern Aviation &amp, Industries Ltd., CIT, CIT 48, Eastern Aviation &amp, Industries Ltd., CIT, CIT, the Calcutta High Court, CBDT Circular, The Supreme Court, CIT, Ors, SC, Explanation, Explanation, the Calcutta High Court, Eastern Aviation &amp, Industries Ltd., CIT

PERSON: Shri Beni M. Chattergi, Shri M.G. Zade, M. Gulab Singh &amp, Benches of, ITA Nos, Sri Ranga Vilas Ginning &, Oil Mills, Oil Mills, Benches, Bench BSinora Trading Ltd., Bench C, Bench C, Bench C, Bench SMC, Bench C, Bench C, Bench DMansi Trading, Bench BDy, Bench C, Bench B, Bench BUtkarsh Textiles Trading Ltd., Bench A, Bench C, Bench F, Bench H, Bench B., Narayan Row, Cocanada Radhaswami Bank, Aryasthan Corpn., Venkateswara Hatcheries, Bench

GPE: Mumbai, assessee, assessee, Pithisaria, assessee, assessee, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, Mumbai, asst, assessee, pp, assessee, Aryasthan Corpn, assessee, assessee

ORDINAL: first, first, second, 31st, first, 14th, 26th, 22nd, 11th, 14th, 26th, 15th, first, second, first, first, second, first, second, first, second, second, second, first, second

NORP: Hon'ble

PERCENT: less than

MONEY: 51 per cent, 25 per cent, 50 per cent, 35 per cent, 25 per cent, 50 per cent, 50 per cent

WORK_OF_ART: Fifth Edition, Chargeable

TIME: 72 of the Act

LOC: year.15, Expln

PRODUCT: 711, Bench