220-223 36 CIT Vs. Varanasi Nagar Vikas 275 ITR 140 (All) 224-226 38 Soma Trg Joint Venture v. CIT

71 ITR 713High Court1961#16074 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 348,607 Indian tax judgments — from 2017 to 2025.

Sections most often in play

Section 148 Section 45 Section 48(1)

Judgments citing 220-223 36 CIT Vs. Varanasi Nagar Vikas 275 ITR 140 (All) 224-226 38 Soma Trg Joint Venture v. CIT

ITO, Ward-1(1), Hyderabad vs. Arka Properties Private Limited, Hyderabad

In the result, appeal of the Revenue is dismissed

ITA 58/HYD/2024[2015-16]Status: DisposedITAT Hyderabad17 Apr 2025AY 2015-16

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha, G.आ.अपी.सं /Ita No.58/Hyd/2024 (िनधा"रण वष"/Assessment Year: 2015-16) Income Tax Officer Vs. Arka Properties (P) Ltd Ward 1 (1) Hyderabad Hyderabad Pan:Aafca7411H (Appellant) (Respondent) राज" व "ारा/Revenue By:: Smt. M. Narmada, Cit(Dr) िनधा""रती "ारा/Assessee By: Advocate H Srinivasulu, सुनवाई की तारीख/Date Of Hearing: 27/03/2025 घोषणा की तारीख/Pronouncement: 17/04/2025 आदेश/Order Per Vijay Pal Raothis Appeal By The Revenue Is Directed Against The Order Dated, 23/11/2023 Of The Learned Cit (A)-Nfac Delhi, For The A.Y. 2015-16. 2. There Is A Delay Of 1 Day By The Revenue In Filing The Appeal Before The Tribunal & The Revenue Has Filed An Affidavit Explaining The Cause Of Delay. We Have Heard The Learned Dr As Well As The Learned Ar On The Condonation Of Delay. The Learned Ar Has Not Objected For Condonation Of Delay Of One Day In Filing

For Appellant: Advocate H SrinivasuluFor Respondent: : Smt. M. Narmada, CIT(DR)

Section 148Section 45

…le of diversion by the overriding title is applicable in the case of the assessee and the learned CIT (A) has rightly allowed the claim of the assessee. In support of his contention, he has relied upon the following decisions: 1) Bombay City-1 VS C.N. Patuck (71 ITR 713) (Bom.) 2) CIT vs. Thressiamma Abraham (227 ITR 802) (Ker.) 3) Addl.CIT vs. Glad Investments (P) Ltd (105 TTJ 218 (ITAT Delhi) Page 7 of 24 ITA No 58 of 2024 ARKA Properties P Ltd 4) Crawford Bayley & Co. (106 ITR 884) (Bom.) 5) Sital Das Tirathdas (41 ITR 367 (S.C) 6) National Cooperative Development Corporate (119 Taxmann.com 137 (S.C) 7) Rin…

Loramitra Rath, Kairapari Kotsahi, Tangi vs. DCIT (Circle-1(1), Cuttack

The appeal is allowed

ITA 314/CTK/2023[2015-16]Status: HeardITAT Cuttack05 Sept 2024AY 2015-16

Bench: Before Shri George Mathan, Judicial & Manish Agarwal Manish Agarwalassessment Year : 2015-16 Loramitra Loramitra Rath, Rath, Kairapari Kairapari Vs. Dcit, Circle Dcit, Circle-1(1), Kotsahi, Tangi, Cuttack Kotsahi, Tangi, Cuttack Cuttack Pan/Gir No. No.Aebpr 6065 H (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Purnendhu Bhusan Mohanty, Ca Purnendhu Bhusan Mohanty, Ca Revenue By : Shri S.C.Mohanty, Sr S.C.Mohanty, Sr Dr

For Appellant: Shri Purnendhu Bhusan Mohanty, CAFor Respondent: Shri S.C.Mohanty, Sr

Section 48

…deceased and the firm paid 25 percent of profits to the widow of the deceased partner and claimed the same as expenditure. The claim of the assessee was negative by the revenue. The court made a reference to the precedent in the case of CIT v. Patuck (1969) 71 ITR 713 (Born) wherein it was held that whenever a charge is created, the income which has been made the subject of the charge ceases to be the income of the assessee and the charge creates an overriding title in favour of the charge-holder to recover the income before it reaches the hands of the assessee. The court held that it is obvious from the deed o…

Income Tax Officer-23(1)(2), Mumbai vs. Indian Corporate Loan Securities Trust 2008 Series 14, Mumbai

In the result, Revenue's appeal for A

ITA 4789/MUM/2017[2010-11]Status: DisposedITAT Mumbai29 Jan 2020AY 2010-11

Bench: Shri M.Balaganesh, Am & Shri Ravish Sood, Jm The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust 2008 Matru Mandir Series 14 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block 3Rd Floor, Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat16786P (Appellant) .. (Respondent) The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust Series Iii Matru Mandir 2009 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat17440L (Appellant) .. (Respondent) The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust Series Matru Mandir 2008 Series 36 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat16925L (Appellant) .. (Respondent) आदेश / O R D E R Per Bench: These Appeals In Ita No.4789/Mum/2017, 4791/Mum/2017 & 4794/Mum/2017 For A.Y.2010-11 Arise Out Of The Order By The Ld. Commissioner Of Income Tax (Appeals)-32, Mumbai In Appeal No.Cit(A)- 32/It-604/23(1)(2)/2015-16, Cit(A)-32/It-48/19(3)(2)/2012-13 & Cit(A)-32/It-483/Ito-19(3)(4)/12-13 Respectively Dated 24/04/2017 (Ld. Cit(A) In Short) Against The Order Of Assessment Passed U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As Act) Dated 26/02/2016, 31/10/2012 Respectively By The Ld. Income Tax Officer – 23(1)(2) & 19(3)(2) Respectively, Mumbai (Hereinafter Referred To As Ld. Ao).

Section 10Section 143(3)Section 148Section 161Section 161(1)Section 61

…place by voluntary act of parties. In support of the propositions/arguments put forth assessee relied on the following judicial pronouncements wherein it was held that overriding title can be created by voluntary act of parties:— (i) CIT v. C. N. Patuck[1961] 71 ITR 713 (Bom.) (ii) Rajkot District Gopalak Co-op. Milk Producers' Union Ltd. v. CIT [1993] 204 ITR 590/[1994] 77 Taxman 346 (Guj.) (iii) CIT v. Tollygunge Club Ltd. [1977] 107 ITR 776 (SC) (iv) CIT v. A. Tosh & Sons (P.) Ltd. [1987] 166 ITR 867/30 Taxman 516 (Cal.) (v) CIT v. Raja Ram Jaiswal[1992] 195 ITR 834/[1991] 57 Taxman 225 (All.) 8.3 Per contra,…

The Pr. Commissioner of Income Tax (4) vs. M/S Chamundi Winery and Distillery

ITA/172/2017HC Karnataka25 Sept 2018

Bench: S.SUJATHA,VINEET KOTHARI

Section 260

…B Bharucha & Sons 130 ITR 863 (Bom) 216-219 35 Jit and Pal X-Rays Pvt Ltd Vs. CIT 267 ITR 370 (All) 220-223 36 CIT Vs. Varanasi Nagar Vikas 275 ITR 140 (All) 224-226 38 Soma Trg Joint Venture Vs CIT 398 ITR 425 (J & K) 234-239 40 CIT Vs. Patuck 71 ITR 713 (Bom) 246-256 Date of Judgment 25-09-2018 I.T.A.No.155/2016 and connected matters The Pr. Commissioner of Income Tax & Ors. Vs. M/s. Chamundi Winery and Distillery 98/137 Sl.No CASE LAWS ON BUSINESS EXPENDITURE UNDER SECTION 37 OF THE ACT. Page No 7 CIT…

Pr. Commissioner of Income Tax vs. M/S Chamundi Winery and Distillery

ITA/467/2015HC Karnataka25 Sept 2018

Bench: S.SUJATHA,VINEET KOTHARI

Section 260

ITO 19(3)(2), Mumbai vs. Indian Corporate Loan Securitization Trust 2008 Series 14I, Mumbai

In the result, Revenue’s appeal for A

ITA 4343/MUM/2013[2009-10]Status: DisposedITAT Mumbai17 Feb 2017AY 2009-10

Bench: Shri Jason P. Boaz & Shri Sandeep Goasinindian Corporate Loan Securitisation Income Tax Officer-9(3)(2) Trust- 2008 Series 14 Mumbai C/O. Il & Fs Trust Co. Ltd. Vs. 10Th Floor, “G” Block, Bkc Bandra (E), Mumbai 400051 Pan – Aaati6786P Appellant Respondent Income Tax Officer-(23)1)(2) Indian Corporate Loan [Erstwhile Ito-19(3)(2)] Securitisation Trust- 2008 Series 14 Room No. 108, Matru Mandir Vs. C/O. Il & Fs Trust Co. Ltd. Tardeo Road, Grant Road 10Th Floor, “G” Block, Bkc Mumbai 400007 Bandra (E), Mumbai 400051 Pan – Aaati6786P Appellant Respondent

For Appellant: Shri S.E. Dastur &For Respondent: Shri P.C. Chhotaray

…ke place by voluntary act of parties. In support of the propositions/arguments put forth assessee relied on the following judicial pronouncements wherein it was held that overriding title can be created by voluntary act of parties: - (i) CIT vs. C. N. Patuck (71 ITR 713) (Bom.) (ii) Rajkot District Gopalak Co-operative Milk Producers Union Ltd. vs. CIT (204 ITR 590) at 594 (Guj.) (iii) CIT vs. Tollygunge Club Ltd. (107 ITR 776) (SC) (iv) CIT vs. A. Tosh & Sons (P.) Ltd. (Cal.) (166 ITR 867) (v) CIT vs. Raja Ram Jaiswal (All.) (195 ITR 834) 8.3 Per contra, the learned senior standing counsel for Revenue, relying o…