274 ITR 448 (3) CIT v. Motor Credit Co. P. Ltd.

273 ITR 495High Court2005#17476 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2018 to 2024.

Judgments citing 274 ITR 448 (3) CIT v. Motor Credit Co. P. Ltd.

Simoco Systems and Infrastructure Solutions Limited, Kolkata vs. ITO Ward 2 (1), Kolkata

In the result, the appeal filed by the assessee is allowed

ITA 123/KOL/2024[2018-19]Status: DisposedITAT Kolkata29 Nov 2024AY 2018-19

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Year: 2018-19

For Appellant: Indranil Banerjee, ARFor Respondent: Ankur Goyal, JCIT, Sr. DR
Section 115JSection 133(6)Section 143(3)Section 144BSection 250

…o de part from the rule of consistency which is also accepted in all the previous yea Rs.7. The question of law is, therefore, answered in favour of the assessee and against the Revenue". 4. COMMISSIONER OF INCOME TAX vs. GIRIRAJ UDYOG (P) LTD. - Allahabad HC 273 ITR 495: Income-Accrual of income-Assessability-Notional interest on advances Interest not charged or accrued Assessee engaged in maintaining cold storage unit rented out to mostly agriculturists for storing potatoes etc. Assessee advancing moneys on promotes to the stores-No interest was actually debited on the moneys advanced during the year In the abs…

Gujarat State Land Development Corporation Ltd., Gandhinagar vs. The Dy.CIT, Gandhinagar Circle, Gandhinagar

Appeal is allowed

ITA 2632/AHD/2015[2012-13]Status: DisposedITAT Ahmedabad23 Feb 2022AY 2012-13
For Appellant: Ms. Arti N. Shah, A.RFor Respondent: Shri Mohd Usman, CIT/DR
Section 250(6)

…certain, the income could not be said as accrued: (1) CIT vs. Eicher Ltd. [2010] 320 ITR 410 (Delhi) (2) CIT vs. Abbas Wazir (P.) Ltd. [2005] 274 ITR 448 (3) CIT vs. Motor Credit Co. P. Ltd. [1981] 127 ITR 572 (Mad.) (4) CIT vs. Giriraj Udyog (P.) Ltd. [2005] 273 ITR 495 (All.) (5) CIT vs. Woodward Governor India P. Ltd. [2009] 312 ITR 254 (SC) (6) Order of the High Court of Gujarat in case of Gujarat Insecticides Ltd. vs. Asst.CIT (7) CIT vs. Ganga Charity Trust Fund [1986] 162 ITR 612 (Guj.) (8) ACIT vs. Coromandal Investment P. Ltd. [2009] 316 ITR 104 (Guj.) 14. In view of the above, Ld. Counsel for the asses…

Gujarat State Land Development Corporation Ltd., Gandhinagar vs. The Dy.CIT, Gandhinagar Circle, Gandhinagar

Appeal is allowed

ITA 2630/AHD/2015[2008-09]Status: DisposedITAT Ahmedabad23 Feb 2022AY 2008-09
For Appellant: Ms. Arti N. Shah, A.RFor Respondent: Shri Mohd Usman, CIT/DR
Section 250(6)

…certain, the income could not be said as accrued: (1) CIT vs. Eicher Ltd. [2010] 320 ITR 410 (Delhi) (2) CIT vs. Abbas Wazir (P.) Ltd. [2005] 274 ITR 448 (3) CIT vs. Motor Credit Co. P. Ltd. [1981] 127 ITR 572 (Mad.) (4) CIT vs. Giriraj Udyog (P.) Ltd. [2005] 273 ITR 495 (All.) (5) CIT vs. Woodward Governor India P. Ltd. [2009] 312 ITR 254 (SC) (6) Order of the High Court of Gujarat in case of Gujarat Insecticides Ltd. vs. Asst.CIT (7) CIT vs. Ganga Charity Trust Fund [1986] 162 ITR 612 (Guj.) (8) ACIT vs. Coromandal Investment P. Ltd. [2009] 316 ITR 104 (Guj.) 14. In view of the above, Ld. Counsel for the asses…

Gujarat State Land Development Corporation Ltd., Gandhinagar vs. The Dy.CIT, Gandhinagar Circle, Gandhinagar

Appeal is allowed

ITA 2538/AHD/2014[2011-12]Status: DisposedITAT Ahmedabad23 Feb 2022AY 2011-12
For Appellant: Ms. Arti N. Shah, A.RFor Respondent: Shri Mohd Usman, CIT/DR
Section 250(6)

…certain, the income could not be said as accrued: (1) CIT vs. Eicher Ltd. [2010] 320 ITR 410 (Delhi) (2) CIT vs. Abbas Wazir (P.) Ltd. [2005] 274 ITR 448 (3) CIT vs. Motor Credit Co. P. Ltd. [1981] 127 ITR 572 (Mad.) (4) CIT vs. Giriraj Udyog (P.) Ltd. [2005] 273 ITR 495 (All.) (5) CIT vs. Woodward Governor India P. Ltd. [2009] 312 ITR 254 (SC) (6) Order of the High Court of Gujarat in case of Gujarat Insecticides Ltd. vs. Asst.CIT (7) CIT vs. Ganga Charity Trust Fund [1986] 162 ITR 612 (Guj.) (8) ACIT vs. Coromandal Investment P. Ltd. [2009] 316 ITR 104 (Guj.) 14. In view of the above, Ld. Counsel for the asses…

M/S. Asiatic Oxygen Limited, Kolkata vs. DCIT, Circle - 4, Kolkata

In the result, the appeal of the assessee is allowed

ITA 1381/KOL/2017[2008-09]Status: DisposedITAT Kolkata07 Sept 2018AY 2008-09

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1381/Kol/2017 Assessment Year : 2008-09 M/S Asiatic Oxygen Ltd. -Vs- Dcit, Circle-4, Kolkata. [Pan: Aacca 6748 G] (Appellant) (Respondent)

For Appellant: Shri S.M Surana, AdvocateFor Respondent: Shri Robin Chowdhury, Addl. CIT DR
Section 143(3)Section 147Section 148

…proceedings. The assessee placed reliance on the decision of the Hon’ble Jurisdictional High Court in the case of CIT vs. Balarampur Commercial Enterprises reported in 262 ITR 439 (Cal) and Hon’ble Allahabad High Court in the case of Giriraj Udyog reported in 273 ITR 495 (All) stating that no real income had in fact accrued/arose to the said company in respect of interest on amount advanced to Six Sigma Gasses Pvt. Ltd. It was specifically pointed out by the assessee while filing the objections to the reasons recorded in the reassessment 3 4 M/s Asiatic Oxygen Ltd. A.Yr. 2008-09 proceedings that since this issue…

274 ITR 448 (3) CIT v. Motor Credit Co. P. Ltd. (273 ITR 495) — Cited in 5 Judgments | BharatTax