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Kirby Building Systems India ... vs Dcit, Haridwar on 11 September, 2018 cites

Dcit, Circle, Haridwar vs Kirby Building Systems India ... on 27 August, 2018

35. The ld Departmental Representative also relied on the orders of the lower authorities and submitted that as the issue is already decided in the case Page | 9 DCIT Vs. Kirby Building Systems India (Uttaranchal) Pvt. Ltd ITA Nos. 207 and 208/Del/2015 and 315 and 316/Del/2015 CO Nos. 250 and 251 /Del/2015 Assessment Year 2010-11 and 2011-12 of the assessee for AY 2008-09 which has not been challenged before the coordinate bench, same is required to be confirmed.
Income Tax Appellate Tribunal - Delhi Cites 1 - Cited by 1 - Full Document

M/S Liberty India vs Commr.Of Income Tax,Karnal on 31 August, 2009

"1. The ld CIT(A) has erred in law and on facts in holding that customer advances written back amount to sale and can be said to be derived from the eligible business u/s 80IC ignoring the ration establishes by the Hon'ble Supreme Court in the case of Liberty India Vs. CIT 183 Taxmann 349 (2009) as per which the "income derived from industrial undertaking" has been held to be eligible for the said deduction and not the income attributable to industrial undertaking."
Supreme Court of India Cites 21 - Cited by 862 - S H Kapadia - Full Document

Commissioner Of Income Tax Iii Surat vs M/S Priyanka Gems on 2 December, 2014

9. We have carefully considered the rival contentions. The issue is now squarely covered in favour of the assessee by the decision of CIT Vs. Priyanka Gems 367 ITR 575 and CIT Vs. Metrochem Industries Ltd. Both these decisions have considered the decision of the Hon'ble Supreme Court in Liberty India Vs. CIT 317 ITR 218. In view of this we do not find any infirmity in the order of the ld CIT(A) in holding that foreign exchange gain is income derived from industrial undertaking and is eligible for deduction u/s 80IC of the Act. Ground No 1 is dismissed.
Supreme Court - Daily Orders Cites 0 - Cited by 14 - Full Document

Commissioner Of Income Tax Ii vs Metrochem Industries Ltd on 17 April, 2017

9. We have carefully considered the rival contentions. The issue is now squarely covered in favour of the assessee by the decision of CIT Vs. Priyanka Gems 367 ITR 575 and CIT Vs. Metrochem Industries Ltd. Both these decisions have considered the decision of the Hon'ble Supreme Court in Liberty India Vs. CIT 317 ITR 218. In view of this we do not find any infirmity in the order of the ld CIT(A) in holding that foreign exchange gain is income derived from industrial undertaking and is eligible for deduction u/s 80IC of the Act. Ground No 1 is dismissed.
Supreme Court - Daily Orders Cites 0 - Cited by 29 - Full Document

The Pr.Commissioner Of Income Tax-6, vs M/S Novell Software Development ... on 4 July, 2018

8. The ld Authorised Representative relied on para No. 10 of the order of the ld CIT(A). He further stated that in CIT Vs. Nobel Software Development India Pvt. Ltd 260 CTR 272, Hon'ble Karnataka High Court after considering the decision of the Hon'ble Supreme Court held that assessee is eligible for deduction on such income. It was further stated that identical issue has been considered in assessee's own case for Assessment Year 2008-09 and it has been held that such foreign exchange gain is eligible for deduction u/s 80IC of the Act.
Karnataka High Court Cites 2 - Cited by 1 - Full Document
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