298 ITR 298/168 Taxman 43 (SC); 6. Principal Commissioner of Income-tax v. Basti Sugar Mills Co. Ltd.

98 Taxmann.com 401High Court2018#14581 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2020 to 2024.

Sections most often in play

Section 143(3)Section 36(1)(iii)

Judgments citing 298 ITR 298/168 Taxman 43 (SC); 6. Principal Commissioner of Income-tax v. Basti Sugar Mills Co. Ltd.

ADDL.CIT, SPECIAL RANGE-3, NEW DELHI vs. ESCORTS LTD., FARIDABAD

In the result, Revenue’s appeal is dismissed

ITA 6191/DEL/2018[2004-05]Status: DisposedITAT Delhi31 May 2024AY 2004-05

Bench: Shri Saktijit Dey, Vice- & Shri Naveen Chandraassessment Year: 2004-05

Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI SAKTIJIT DEY, VICE-PRESIDENT AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER Assessment Year: 2004-05 Escorts Kubota Limited Vs. Dy. CIT, (formerly known as Escorts Circle -7(1), Ltd.), New Delhi Corporate Centre, 15/5, Mathura Road, Faridabad, Haryana PAN :AAACE0074B (Appellant) (Respondent) With Assessment Year: 2004-05 Dy. CIT, Vs. Escorts Kubota Limited Circle -7(1), (formerly known as Escorts New Delhi Ltd.), Corporate Centre, 15/5, Mathura Road, Faridabad, Haryana PAN :AAACE0074B (Appellant) (Respondent) Assessee by Sh. R.M. Mehta,…

ESCORTS LTD.,FARIDABAD vs. ADDL.CIT, SPECIAL RANGE-3, NEW DELHI

In the result, Revenue’s appeal is dismissed

ITA 5552/DEL/2018[2004-05]Status: DisposedITAT Delhi31 May 2024AY 2004-05

Bench: Shri Saktijit Dey, Vice- & Shri Naveen Chandraassessment Year: 2004-05

Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI SAKTIJIT DEY, VICE-PRESIDENT AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER Assessment Year: 2004-05 Escorts Kubota Limited Vs. Dy. CIT, (formerly known as Escorts Circle -7(1), Ltd.), New Delhi Corporate Centre, 15/5, Mathura Road, Faridabad, Haryana PAN :AAACE0074B (Appellant) (Respondent) With Assessment Year: 2004-05 Dy. CIT, Vs. Escorts Kubota Limited Circle -7(1), (formerly known as Escorts New Delhi Ltd.), Corporate Centre, 15/5, Mathura Road, Faridabad, Haryana PAN :AAACE0074B (Appellant) (Respondent) Assessee by Sh. R.M. Mehta,…

JAI SALASAR BALAJI INDUSTRIES(P)LTD,KOLKATA vs. ACIT, KOLKATA

In the result, the appeal filed by the assessee is allowed as per the terms indicated above

ITA 440/KOL/2023[2018-19]Status: DisposedITAT Kolkata25 Aug 2023AY 2018-19

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 440/Kol/2023 Assessment Year: 2018-19 Jai Salasar Balaji Industries (P) Ltd. Acit, Central Circle – 4(1), Kolkata 5, Bentinck Street Vs Kolkata - 700001 [Pan : Aaacj6970D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri A.K. Tulsiyan, Fca Revenue By : Shri Subhendu Datta, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 20/06/2023 घोषणा क" तारीख /Date Of Pronouncement: 25/08/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The Learned Principal Commissioner Of Income Tax (Central), Kolkata -2, (Hereinafter The “Ld. Pr. Cit”) Dt. 28/03/2023, Passed U/S 263 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2018-19. 2. Brief Facts Of The Case Are That The Assessee Is A Private Limited Company Engaged In The Business Of Manufacturing & Trading Of Steel. E-Return Filed On 27/10/2018 Declaring Total Income At Nil For The Assessment Year 2018-19. Case Selected For Through Cass Followed By Issuance Of Notice U/S 143(2) & 142(1) Of The Act. Details Were Called For In Respect Of The Reason Of Scrutiny Selection. The Assessee Complied By Filing All The Relevant Details & The Same Were Duly Examined By The Assessing Officer & He Came To The Conclusion That The Assessee Was Entitled To The Claim Of Carry Forward Of Loss To 2

For Appellant: Shri A.K. Tulsiyan, FCAFor Respondent: Shri Subhendu Datta, CIT, D/R
Section 143(2)Section 143(3)Section 263

…| आयकर अपीलीय अिधकरण "यायपीठ, कोलकाता | IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA BEFORE DR. MANISH BORAD, HON’BLE ACCOUNTANT MEMBER & SHRI SONJOY SARMA, HON’BLE JUDICIAL MEMBER I.T.A. No. 440/Kol/2023 Assessment Year: 2018-19 Jai Salasar Balaji Industries (P) Ltd. ACIT, Central Circle – 4(1), Kolkata 5, Bentinck Street Vs Kolkata - 700001 [PAN : AAACJ6970D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri A.K. Tulsiyan, FCA Revenue by : Shri Subhendu Datta, CIT, D/R सुनवाई क" तारीख/Date of Hearing : 20/06/2023 घोषणा क" तारीख /Date of Pronouncement: 25/08/2023 आदेश/O R D E R PER DR. M…

ACIT, CIRCLE-29(1), NEW DELHI vs. MANEESH BAWA, NEW DELHI

Appeal are dismissed

ITA 577/DEL/2020[2016-17]Status: DisposedITAT Delhi17 Oct 2022AY 2016-17

Bench: Shri Narendra Kumar Billaiya & Shri Kul Bharat[Assessment Year: 2016-17]

Section 143(3)Section 24

…1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “E”: NEW DELHI BEFORE SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER AND SHRI KUL BHARAT, JUDICIAL MEMBER [Assessment Year: 2016-17] ACIT, Circle-29(1), Vs Sh. Maneesh Bawa, New Delhi. S-322A, Panchsheel Park, Malviya Nagar, New Delhi-110017 PAN: AAEPB2768C APPELLANT RESPONDENT Assessee represented by Shri Salil Aggarwal, Sr. Adv. & Sh. Shailesh Gupta, CA & Sh. Madhur Aggarwal, Adv. Department represented by Shri Jeetender Chand, Sr. DR Date of hearing 17.10.2022 Date of pronouncement 17.10.2022 O R D E R PER KUL BHARAT, JM: This appeal, by the Revenue, is…

M/S. ANABOND LTD.,,CHENNAI vs. DCIT, CORPORATE CIRCLE - 1 (1),, CHENNAI

The appeal stands partly allowed

ITA 621/CHNY/2020[2012-13]Status: DisposedITAT Chennai11 Jan 2022AY 2012-13

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri B. Ramakrishna (CA) – Ld. ARFor Respondent: Shri ARV Sreenivasan (Addl. CIT) –Ld. DR
Section 143(3)Section 36(1)(iii)

…no interest disallowance could be made in such a case as per the decision of Hon’ble Supreme Court in the case of Hero Cycles Pvt. Ltd. V/s CIT (63 Taxmann.com 308). The favorable decision of Hon’ble Delhi High Court in Pr. CIT V/s Basti Sugar Mills Co. Ltd. (98 Taxmann.com 401) would also be applicable to the fact of the case. This case has already considered the decision of Hon’ble Supreme Court in the case of S.A. Builders Ltd. V/s CIT (288 ITR 1) which held that once it was established that there was nexus between the expenditure and purposes of business, which need not be the business of the assessee, deduct…

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE vs. M/S COFFEEDAY GLOBAL LIMITED , BANGALORE

In the result, the appeals of the Revenue are partly allowed

ITA 3041/BANG/2018[2014-15]Status: DisposedITAT Bangalore24 Feb 2020AY 2014-15

Bench: S/Shri Chandra Poojari, Am & Smt. Beena Pillai, Jm Ita Nos. 3040 & 3041/Bang/2018 Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Coffee Day Global Limited, Income-Tax, Central Circle-1(3), No.23/2, Coffeeday Square, 3Rd Floor, C.R. Building, Vittal Mallya Road, Queen’S Road, Bengaluru-560 001. Bengaluru-560 001. [Pan: Aabca 5291P]

Section 14ASection 32(1)(iia)Section 43A

…t cannot be presumed that, borrowed funds have been diverted for such purpose and interest disallowed. i) Commissioner of Income Tax V. Reliance Industries Ltd (2019) 102 Taxmann.com 52 (SC) ii) Pr. Commissioner of Income Tax V. Basti Sugar Mills Co. (2018) 98 Taxmann.com 401 (Delhi) iii) CIT V. Smt.Satish Bala Malhotra (2017) 79 Taxmann.com 50 (P&H) 8.7 Thus, the Ld. AR submitted that the work in progress under consideration was Rs.35,85,50,924/- as on 31.03.2013 which is far less than the funds available above. In the light of the ratios laid down in the decisions above, it was submitted 29 I.T.A. Nos.3040…

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1(3), BANGALORE vs. M/S COFFEEDAY GLOBAL LIMITED , BANGALORE

In the result, the appeals of the Revenue are partly allowed

ITA 3040/BANG/2018[2013-14]Status: DisposedITAT Bangalore24 Feb 2020AY 2013-14

Bench: S/Shri Chandra Poojari, Am & Smt. Beena Pillai, Jm Ita Nos. 3040 & 3041/Bang/2018 Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Coffee Day Global Limited, Income-Tax, Central Circle-1(3), No.23/2, Coffeeday Square, 3Rd Floor, C.R. Building, Vittal Mallya Road, Queen’S Road, Bengaluru-560 001. Bengaluru-560 001. [Pan: Aabca 5291P]

Section 14ASection 32(1)(iia)Section 43A

…t cannot be presumed that, borrowed funds have been diverted for such purpose and interest disallowed. i) Commissioner of Income Tax V. Reliance Industries Ltd (2019) 102 Taxmann.com 52 (SC) ii) Pr. Commissioner of Income Tax V. Basti Sugar Mills Co. (2018) 98 Taxmann.com 401 (Delhi) iii) CIT V. Smt.Satish Bala Malhotra (2017) 79 Taxmann.com 50 (P&H) 8.7 Thus, the Ld. AR submitted that the work in progress under consideration was Rs.35,85,50,924/- as on 31.03.2013 which is far less than the funds available above. In the light of the ratios laid down in the decisions above, it was submitted 29 I.T.A. Nos.3040…

298 ITR 298/168 Taxman 43 (SC); 6. Principal Commissioner of Income-tax v. Basti Sugar Mills Co. Ltd. (98 Taxmann.com 401) — Cited in 7 Judgments | BharatTax