(1997) 225 ITR 792 (SC) and Brooke Bond India Ltd. v. CIT

140 ITR 272High Court1983#19093 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2022.

Judgments citing (1997) 225 ITR 792 (SC) and Brooke Bond India Ltd. v. CIT

Hinduja Leyland Finance Limited, Tamil Nadu vs. ACIT, Chennai

In the result, appeal filed by the assessee is allowed

ITA 116/CHNY/2022[2017-18]Status: DisposedITAT Chennai14 Oct 2022AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.116/Chny/2022 िनधा"रण वष" /Assessment Year: 2017-18 M/S.Hinduja Leyland Finance Ltd., V. The Dy. Commissioner- No.1, Sardar Patel Road, Guindy, Of Income Tax, Chennai. Cpc, Bangalore. [Pan: Aacch 1807 P] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: Mr.K.N.Dhandapani, Addl.CIT

Section 143(1)(a)Section 37Section 37(1)

…आयकर अपीलीय अिधकरण, ‘बी’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH: CHENNAI "ी वी. दुगा" राव, माननीय "ाियक सद" एवं "ी जी. मंजूनाथा, माननीय लेखा सद" के सम" BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER AND SHRI G. MANJUNATHA, HON’BLE ACCOUNTANT MEMBER आयकर अपील सं./ITA No.116/Chny/2022 िनधा"रण वष" /Assessment Year: 2017-18 M/s.Hinduja Leyland Finance Ltd., v. The Dy. Commissioner- No.1, Sardar Patel Road, Guindy, of Income Tax, Chennai. CPC, Bangalore. [PAN: AACCH 1807 P] (अपीलाथ"/Appellant) (""यथ"/Respondent) : अपीलाथ" क" ओर से/ Appellant by Mr.R.Sathyanarayanan, CA ""यथ" क" ओर से /Resp…

Grasim Industries Ltd vs. Addl. CIT Range 6(3)

In the result, appeal filed by the assesse and revenue are partly allowed

ITA 4753/MUM/2004[2002-03]Status: DisposedITAT Mumbai14 Dec 2021AY 2002-03

Bench: Shri Saktijit Dey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blegrasim Industries Limited V. Addl. Cit, Range 6(3) Corporate Finance Division 5Th Floor, Room No. 505 Aditya Birla Centre “A” Wing Aayakar Bhavan 2Nd Floor, S.K. Ahire Marg, Worli Mumbai Mumbai-400025 Pan: Aaacg4464B Appellant Respondent Dy. Cit, Range 6(3), V. Grasim Industries Limited, 5Th Floor, Room No. 505, Corporate Finance Division, Aayakar Bhavan, Aditya Birla Centre, “A” Wing, Mumbai-20. 2Nd Floor, S.K. Ahire Marg Worli, Mumbai-400025 Pan: Aaacg4464B Appellant Respondent Assessee By : Shri J.D. Mistry Revenue By : Shri Sandeep Raj & Shri Vijay Kumar Menon

For Appellant: Shri J.D. MistryFor Respondent: Shri Sandeep Raj &

Section 143(3)Section 36(1)(vii)Section 43BSection 80Section 80H

…geous commercial relationship resulting from a large work force with low 28 ITA No. 4753 & 5584/MUM/2004 (A.Y. 2002-03) Grasim Industries Limited, productivity without appreciating that the Calcutta High Court has, in the case of Brook Bond India Ltd. (1983)(140 ITR 272), held that ‘where the object of incurring an expenditure is to effect the capital restructure as a result of which certain incidental advantage flows, the expenditure will be of capital nature and it is not the acquisition of arise of a permanent character alone, the creation of which is a condition for the carrying on the business that could be…

Asst CIT CIT 1, Thane vs. Bayer Sheets India P.Ltd, Mumbai

In the result, appeal of the Revenue is partly allowed

ITA 2170/MUM/2017[2011-12]Status: DisposedITAT Mumbai27 Apr 2021AY 2011-12

Bench: Us At The Time Of Hearing. The Same Is Reckoned As A Statement Made From The Bar. Accordingly, The Ground No. 2 Raised By The Revenue Is Allowed.

Section 143(3)Section 56(1)Section 56(2)(viib)Section 78

…ited) company is to be treated as a capital expenditure as has been held by the Hon'ble Supreme Court in the case of Punjab State Industrial Development Corpn. Ltd. v. CIT [1997] 225 ITR 792/93 Taxman 5 and in the case of Brooke Bond India Ltd. v. CIT [1983] 140 ITR 272/[1982] 10 Taxman 18 (Cal.). Thus the expenditure and the receipts directly relating to the share capital of a company are of capital in nature and therefore cannot be taxed u/s. 56(1) of the Act. The assessee succeeds and Revenue fails on this account. ……………. 12. We have considered the grievance of the Revenue from all possible angles and by appl…

M/S Dayco Securites (P) Ltd., Kolkata vs. D.C.I.T.Cir - 6, Kol., Kolkata

In the result, the appeal of the assessee is partly allowed

ITA 1798/KOL/2012[2006-07]Status: DisposedITAT Kolkata15 Apr 2016AY 2006-07

Bench: Shri P. M. Jagtap, A.M. & Shri S.S.Viswanethra Ravi, J.M.)

For Appellant: Shri D.C.Modok, FCAFor Respondent: Shri Uday Kumar Sardar, Addl.CIT, Sr.DR

Section 143(3)Section 37

…f carrying on of the business or to ensure the source of carrying on of the business.—Punjab State Industrial Development Corpn. Ltd. vs. CIT (1997) 140 CTR (SC) 594 : (1997) 225 ITR 792 (SC) and Brooke Bond India Ltd. vs. CIT (1982) 28 CTR (Cal) 345 : (1983) 140 ITR 272 (Cal) relied on; Atherton vs. British Insulate & Helsby Cables Ltd. 10 Tax Cases 155, Halstorm’s Property Ltd. vs. Federal Commissioner of Taxation 72 CLR 634 and Lord Clyde Robert Addie & Sons’ Colleries Ltd. vs. IRC 8 Tax Cases 671 applied; CIT vs. New India Sugar Mills (1992) 107 CTR (Cal) 280 distinguished. M/s.Dayco Securities (P) Ltd. Ass…