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Acit 6(3), Mumbai vs Grasim Industries Ltd, Mumbai on 25 February, 2025 cites

Joint Commissioner Of Income Tax Range ... vs Chambal Fertilizers And Chemicals Ltd. on 11 March, 2019

14.12. We further note in the immediately preceding assessment year also identical additional ground raised by the Assessee challenging the disallowance of cess under Section 40(a)(ii) of the Act was dismissed by the Co-ordinate Bench of the Tribunal by following the judgment of the Hon'ble Supreme Court in the case of Joint Commissioner of Income-tax vs. Chambal Fertilisers & Chemicals Ltd. : [2023] 291 Taxman 438 (SC)[14/12/2022]. We have perused the aforesaid decision of the Tribunal in the case of the Assessee for the Assessment Year 2005-2006 [ITA No. 3517/MUM/2006, common order dated 04/07/2023], the relevant extract of which reads as under:
Supreme Court - Daily Orders Cites 1 - Cited by 3 - Full Document

M/S Prakash Reflective Devices Pvt.Ltd vs Indore Smart City Development Ltd on 29 March, 2019

Ltd. v. Smart 20 TC 643. In that case it was found that Lincolnshire Sugar Co. Ltd carried on the business of manufacturing sugar from home grown beet. The company was paid various sums under British Sugar Industry (Assistance) Act, 1931, out of monies provided by the Parliament. The question was whether these monies were to be taken into account as trade receipts or not. The object of the grant was that in the year 1981, in view of heavy fall in prices of sugar, sugar industries were in difficulty. The Government decided to give financial assistance to certain industries in respect of sugar manufactured by them from home-grown beet during the relevant period. Lord Macmillan held that "What to my mind is decisive is that these payments were made to the company in order that the money might be used in their business."
Supreme Court - Daily Orders Cites 0 - Cited by 0 - Full Document
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