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Documents citing M/S. Ok Play India Ltd., Haryana vs Jcit, Gurgaon on 13 January, 2020

Dcit, New Delhi vs M/S. Paramount Communication Pvt. ... on 15 June, 2021

41. Referring to the decision of the Co-ordinate Bench of the Tribunal in the Case of OK Play India Ltd. vs JCIT in ITA No.3402/Del/2016, order dated 13.01.2020, he submitted that the Co-ordinate Bench of the Tribunal following the decision of the Hon'ble Delhi High Court in the case of Logitrinics (P) Ltd. (supra) and various other decisions has held that discount received on FCCBs is not taxable in the hands of the assessee. Similar view has been taken by the Delhi Bench of the Tribunal in the case of ACIT vs M/s KEI Industries Ltd. in ITA No.1433/Del/2014. He accordingly submitted that this being a covered matter in favour of the assessee, the order of the learned CIT(A) on this issue should be set-aside and the grounds of the assessee should be allowed.
Income Tax Appellate Tribunal - Delhi Cites 45 - Cited by 4 - Full Document

Allcargo Gati Limited(Formally Known ... vs Ito, Ward-2(2), Hyd, Hyderabad on 10 December, 2024

15. Further, ld.DR has relied upon the decision of Tribunal in the case of M/s. Ok Play India Limited, Haryana Vs. JCIT, Gurgaon in ITA No.3402/Del/2016 dt.13.01.2020 wherein the Delhi Tribunal while entering of section 28(iv) of the Act upon relying upon the decision of Hon'ble Supreme Court in the case of CIT Vs. Mahindra and Mahindra Ltd., reported in (2018) 93 taxmann.com 32 (SC), has decided the issue against the assessee.
Income Tax Appellate Tribunal - Hyderabad Cites 29 - Cited by 0 - Full Document

Allcargo Gati Limited(Formally Known ... vs Acit,Circle-2(2) Hyderabad, ... on 10 December, 2024

15. Further, ld.DR has relied upon the decision of Tribunal in the case of M/s. Ok Play India Limited, Haryana Vs. JCIT, Gurgaon in ITA No.3402/Del/2016 dt.13.01.2020 wherein the Delhi Tribunal while entering of section 28(iv) of the Act upon relying upon the decision of Hon'ble Supreme Court in the case of CIT Vs. Mahindra and Mahindra Ltd., reported in (2018) 93 taxmann.com 32 (SC), has decided the issue against the assessee.
Income Tax Appellate Tribunal - Hyderabad Cites 29 - Cited by 0 - Full Document

Pr. Commissioner Of Income Tax -7 vs Paramount Communication Ltd on 29 January, 2025

6. As was noted by the Tribunal, and which fact is not disputed before us, the FCCB proceeds were utilized for setting up a new manufacturing facility. The Tribunal has noted that the utilization of those proceeds for capital purposes had not been doubted either by the AO or the Commissioner of Income Tax (Appeals)4. The Tribunal has in this regard also rested its ultimate conclusions on the judgments handed down by the Mumbai Bench of the Tribunal in DCIT v. Pidilite Industries Ltd.5 and the view taken by a Bench of the Delhi Tribunal in M/s Ok Play India Ltd. v. JCIT6 as well as in ACIT v. M/s KEI Industries Limited7.
Delhi High Court - Orders Cites 8 - Cited by 0 - Y Varma - Full Document
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