537 (Mum) (ii)Monarch Foods Pvt. Ltd. vs. ACIT (1996) 54 TTJ (Ahd) 405 (iii)ACIT v. Kerala Transport Co.

123 TTJ 246Income Tax Appellate Tribunal2009#12121 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2024.

Issues it is cited on

disallowance of interest expenditurebusiness expediencysection 41(1)section 41section 44asection 40a(3)section 36(1)(iii)commercial expediencysundry creditorsdisallowance under section 14asection 40asection 36(1)(va)

Judgments citing 537 (Mum) (ii)Monarch Foods Pvt. Ltd. vs. ACIT (1996) 54 TTJ (Ahd) 405 (iii)ACIT v. Kerala Transport Co.

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-2(1)(1), VADODARA, VADODARA vs. ORIENTAL ENTERPRISES PRIVATE LIMITED, PCC NOTIFIED AREA

ITA 807/AHD/2023[2018-19]Status: DisposedITAT Ahmedabad27 Aug 2024AY 2018-19

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

For Appellant: Shri Vartik Chokshi, ARFor Respondent: Shri Ashok Natha Bhalekar, Sr.DR
Section 143(3)Section 36(1)(va)Section 37

…t incurred for business purposes. The Ld.CIT(A) emphasized that disallowing 10% of the creditors' balances based on estimation and without specific evidence was not justified. The assessee placed reliance on the decision(s) in case of Om Prakash Joshi vs. ITO 123 TTJ 246 (Jodhpur Bench) and Sonic Biochem Extractions (P.) Ltd. 35 taxmann.com 463 (Mumbai - Trib.). 7.2. The Ld. DR placed reliance on the order of AO and pointed out that the assessee could not provide PANs and addresses of such trade payables and, therefore, the AO could not verify the genuineness of the same. The Ld.AR, on the other hand, relied on…

ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE 2(1)(1), VADODARA, VADODARA vs. ORIENTAL ENTERPRISES PRIVATE LIMITED,, PCC NOTIFIED AREA

ITA 732/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad27 Aug 2024AY 2016-17

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

For Appellant: Shri Vartik Chokshi, ARFor Respondent: Shri Ashok Natha Bhalekar, Sr.DR
Section 143(3)Section 36(1)(va)Section 37

…t incurred for business purposes. The Ld.CIT(A) emphasized that disallowing 10% of the creditors' balances based on estimation and without specific evidence was not justified. The assessee placed reliance on the decision(s) in case of Om Prakash Joshi vs. ITO 123 TTJ 246 (Jodhpur Bench) and Sonic Biochem Extractions (P.) Ltd. 35 taxmann.com 463 (Mumbai - Trib.). 7.2. The Ld. DR placed reliance on the order of AO and pointed out that the assessee could not provide PANs and addresses of such trade payables and, therefore, the AO could not verify the genuineness of the same. The Ld.AR, on the other hand, relied on…

ORIENTAL ENTERPRISE PRIVATE LIMITED,VADODARA vs. THE ACIT, CIRCLE-2(1)(2), VADODARA

ITA 661/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad27 Aug 2024AY 2016-17

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

For Appellant: Shri Vartik Chokshi, ARFor Respondent: Shri Ashok Natha Bhalekar, Sr.DR
Section 143(3)Section 36(1)(va)Section 37

…t incurred for business purposes. The Ld.CIT(A) emphasized that disallowing 10% of the creditors' balances based on estimation and without specific evidence was not justified. The assessee placed reliance on the decision(s) in case of Om Prakash Joshi vs. ITO 123 TTJ 246 (Jodhpur Bench) and Sonic Biochem Extractions (P.) Ltd. 35 taxmann.com 463 (Mumbai - Trib.). 7.2. The Ld. DR placed reliance on the order of AO and pointed out that the assessee could not provide PANs and addresses of such trade payables and, therefore, the AO could not verify the genuineness of the same. The Ld.AR, on the other hand, relied on…

M/S. BRIGHT ENTERPRISES PVT. LTD.,JALANDHAR vs. ASSTT. COMMISSIONER OF INCOME-TAX, JALANDHAR

In the result, the appeal of the assessee in ITA No

ITA 126/ASR/2015[2012-13]Status: DisposedITAT Amritsar17 Jan 2019AY 2012-13

Bench: Sh. N. K. Saini, Hon’Ble & Sh. Ravish Soodita No.354/Asr./2014 : Asstt. Year : 2010-11 Ita No.126/Asr./2015 : Asstt. Year : 2012-13 M/S Bright Enterprises Pvt. Ltd., Vs Deputy Commissioner Of Income Mbd House, Railway Road, Tax, Central Circle-Ii, Jalandhar Jalandhar (Appellant) (Respondent) Pan No. Aaacb9469K Assessee By : Sh. Sudhir Sehgal, Adv. Revenue By : Sh. Pawan K. Kumar, Cit Dr Date Of Hearing : 08.01.2019 Date Of Pronouncement : 17.01.2019 Order Per N. K. Saini: These Two Appeals By The Assessee Are Directed Against The Orders Dated 08.05.2014 & 15.01.2015 Of The Ld. Cit(A)-5, Ludhiana For The Assessment Years 2010-11 & 2012-13 Respectively. 2. Since, The Issues Involved Are Common & The Appeals Were Heard Together, So These Are Being Disposed Off By This Consolidated Order For The Sake Of Convenience & Brevity.

For Appellant: Sh. Sudhir Sehgal, AdvFor Respondent: Sh. Pawan K. Kumar, CIT DR
Section 40A(2)(b)Section 4G

…CIT (2011) 136 TTJ 505 (Del.-ITAT) " Good Year India Ltd. Vs ITO (2000) 73 ITD 189 (Del. ITAT) " ITO Vs Ethno Financial Research (P.) Ltd. (2010) 36 SOT 207 (Del. ITAT) " ACIT Vs Amtek Auto Ltd. (2006) 112 TTJ 455 ( Del. ITAT) " Om Prakash Joshi Vs ITO (2009) 123 TTJ 246 (Jodhpur ITAT) ITA No. 354/Asr./2014 13 Bright Enterprises Pvt. Ltd. " Lavrids KnudsenMaskinfabrik (India) Ltd. Vs ACIT (2006) 102 TTJ 882 (Pune ITAT) " Surface Furnishing Equipment Vs DCIT (2003) 81 TTJ 448 (Jodhpur ITAT) 10. The ld. CIT(A) after considering the submissions of the assessee upheld the disallowance made by the AO by observing i…

M/S BRIGHT ENTERPRISES PVT. LTD,,JALANDHAR vs. THE DY. COMMISSIONER OF INCOME-TAX, JALANDHAR

In the result, the appeal of the assessee in ITA No

ITA 354/ASR/2014[2010-11]Status: DisposedITAT Amritsar17 Jan 2019AY 2010-11

Bench: Sh. N. K. Saini, Hon’Ble & Sh. Ravish Soodita No.354/Asr./2014 : Asstt. Year : 2010-11 Ita No.126/Asr./2015 : Asstt. Year : 2012-13 M/S Bright Enterprises Pvt. Ltd., Vs Deputy Commissioner Of Income Mbd House, Railway Road, Tax, Central Circle-Ii, Jalandhar Jalandhar (Appellant) (Respondent) Pan No. Aaacb9469K Assessee By : Sh. Sudhir Sehgal, Adv. Revenue By : Sh. Pawan K. Kumar, Cit Dr Date Of Hearing : 08.01.2019 Date Of Pronouncement : 17.01.2019 Order Per N. K. Saini: These Two Appeals By The Assessee Are Directed Against The Orders Dated 08.05.2014 & 15.01.2015 Of The Ld. Cit(A)-5, Ludhiana For The Assessment Years 2010-11 & 2012-13 Respectively. 2. Since, The Issues Involved Are Common & The Appeals Were Heard Together, So These Are Being Disposed Off By This Consolidated Order For The Sake Of Convenience & Brevity.

For Appellant: Sh. Sudhir Sehgal, AdvFor Respondent: Sh. Pawan K. Kumar, CIT DR
Section 40A(2)(b)Section 4G

…CIT (2011) 136 TTJ 505 (Del.-ITAT) " Good Year India Ltd. Vs ITO (2000) 73 ITD 189 (Del. ITAT) " ITO Vs Ethno Financial Research (P.) Ltd. (2010) 36 SOT 207 (Del. ITAT) " ACIT Vs Amtek Auto Ltd. (2006) 112 TTJ 455 ( Del. ITAT) " Om Prakash Joshi Vs ITO (2009) 123 TTJ 246 (Jodhpur ITAT) ITA No. 354/Asr./2014 13 Bright Enterprises Pvt. Ltd. " Lavrids KnudsenMaskinfabrik (India) Ltd. Vs ACIT (2006) 102 TTJ 882 (Pune ITAT) " Surface Furnishing Equipment Vs DCIT (2003) 81 TTJ 448 (Jodhpur ITAT) 10. The ld. CIT(A) after considering the submissions of the assessee upheld the disallowance made by the AO by observing i…

HI-TECH ESTATES & PROMOTERS (P),BHUBANESWAR vs. ACIT, BHUBANESWAR

In the result, appeals filed by the assessee i

ITA 249/CTK/2012[2007-08]Status: DisposedITAT Cuttack21 Sept 2017AY 2007-08

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अपील सं./Ita No.235&236/Ctk/2012 (धनधाारण वषा / Assessment Year :2007-2008 & 2008-2009) Acit, Circle-2(2), Bhubaneswar Vs. Hi-Tech Estates & Promoters (P) Ltd. A/170, Sahid Nagar, Bhubaneswar स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No. : Aaach 9591 G (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अपील सं./Ita No.249&250/Ctk/2012 (धनधाारण वषा / Assessment Year :2007-2008 & 2008-2009) Hi-Tech Estates & Vs. Acit, Circle-2(2), Promoters (P) Ltd. A/170, Bhubaneswar Sahid Nagar, Bhubaneswar स्थायी लेखा सं./ Pan No. : Aaach 9591 G (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) राजस्व की ओर से /Revenue By : Shri A.K.Mohapatra, Citdr निर्ााररती की ओर से /Assessee By : Shri B.D.Ojha, Ar सुनवाई की तारीख / Date Of Hearing : 19/09/2017 घोषणा की तारीख/Date Of Pronouncement 21/09/2017 आदेश / O R D E R Per Shri N.S.Saini, Am: These Are Cross Appeals Filed By The Revenue & Assessee Against The Separate Orders Of The Cit(A)-Ii, Bhubaneswar All Dated 01.02.2012 For The Assessment Years 2007-08 & 2008-09. 2. Since The Issue & Facts Involved In These Appeals Are Interconnected, Therefore, They Are Being Heard & Disposed Off Together As Under. 3. In Assessee’S Appeal Grounds No.2 In The Assessment Year 2007- 08 & Ground No.2 In The Assessment Year 2008-09 Are Directed Against

For Appellant: Shri B.D.Ojha, ARFor Respondent: Shri A.K.Mohapatra, CITDR
Section 132

…de. Such findings are given in; (i)Ayushakti Ayurved Pvt. Ltd. vs. ACIT (2010) 4 ITR (Trib.) 537 (Mum) (ii)Monarch Foods Pvt. Ltd. vs. ACIT (1996) 54 TTJ (Ahd) 405 (iii)ACIT vs. Kerala Transport Co. (1994) 51 ITD (Coch) 405 (iv)Om Prakash Joshi vs. ITO (2009) 123 TTJ 246. (v)Lavrids Knudsen Maskinfabrik (India) Ltd. vs. Addl.CIT 102 TTJ 882. (vi)ITA No.0224/2008-09 in the case of Raj Kishore Rout vs. ITO, Ward- 2(2), Cuttack. (vii)Rajat Tradecom India Pvt. Ltd. vs. DCIT, 3 ITR (Trib) 321 (Indore ITAT) (viii)Mumbai Bench of ITAT in Pearl Farben Chem Pvt. Ltd. ITA No.ll22/Mum/2010 order dt.12/11/2010. (ix)M/s. Epco…

ACIT, BHUBANESWAR vs. HI-TECH ESTATES & PROMOTERS (P) LTD, BHUBANESWAR

In the result, appeals filed by the assessee i

ITA 236/CTK/2012[2008-09]Status: DisposedITAT Cuttack21 Sept 2017AY 2008-09

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अपील सं./Ita No.235&236/Ctk/2012 (धनधाारण वषा / Assessment Year :2007-2008 & 2008-2009) Acit, Circle-2(2), Bhubaneswar Vs. Hi-Tech Estates & Promoters (P) Ltd. A/170, Sahid Nagar, Bhubaneswar स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No. : Aaach 9591 G (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अपील सं./Ita No.249&250/Ctk/2012 (धनधाारण वषा / Assessment Year :2007-2008 & 2008-2009) Hi-Tech Estates & Vs. Acit, Circle-2(2), Promoters (P) Ltd. A/170, Bhubaneswar Sahid Nagar, Bhubaneswar स्थायी लेखा सं./ Pan No. : Aaach 9591 G (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) राजस्व की ओर से /Revenue By : Shri A.K.Mohapatra, Citdr निर्ााररती की ओर से /Assessee By : Shri B.D.Ojha, Ar सुनवाई की तारीख / Date Of Hearing : 19/09/2017 घोषणा की तारीख/Date Of Pronouncement 21/09/2017 आदेश / O R D E R Per Shri N.S.Saini, Am: These Are Cross Appeals Filed By The Revenue & Assessee Against The Separate Orders Of The Cit(A)-Ii, Bhubaneswar All Dated 01.02.2012 For The Assessment Years 2007-08 & 2008-09. 2. Since The Issue & Facts Involved In These Appeals Are Interconnected, Therefore, They Are Being Heard & Disposed Off Together As Under. 3. In Assessee’S Appeal Grounds No.2 In The Assessment Year 2007- 08 & Ground No.2 In The Assessment Year 2008-09 Are Directed Against

For Appellant: Shri B.D.Ojha, ARFor Respondent: Shri A.K.Mohapatra, CITDR
Section 132

…de. Such findings are given in; (i)Ayushakti Ayurved Pvt. Ltd. vs. ACIT (2010) 4 ITR (Trib.) 537 (Mum) (ii)Monarch Foods Pvt. Ltd. vs. ACIT (1996) 54 TTJ (Ahd) 405 (iii)ACIT vs. Kerala Transport Co. (1994) 51 ITD (Coch) 405 (iv)Om Prakash Joshi vs. ITO (2009) 123 TTJ 246. (v)Lavrids Knudsen Maskinfabrik (India) Ltd. vs. Addl.CIT 102 TTJ 882. (vi)ITA No.0224/2008-09 in the case of Raj Kishore Rout vs. ITO, Ward- 2(2), Cuttack. (vii)Rajat Tradecom India Pvt. Ltd. vs. DCIT, 3 ITR (Trib) 321 (Indore ITAT) (viii)Mumbai Bench of ITAT in Pearl Farben Chem Pvt. Ltd. ITA No.ll22/Mum/2010 order dt.12/11/2010. (ix)M/s. Epco…

ACIT, BHUBANESWAR vs. RAJDHANI SYSTEMS & ESTATES (P) LTD, BHUBANESWAR

In the result, appeals filed by the assessee and revenue are allowed for statistical purposes

ITA 232/CTK/2012[2007-08]Status: DisposedITAT Cuttack21 Sept 2017AY 2007-08

Bench: Shri N.S.Saini, Am & Shri Pavan Kumar Gadale, Jm आयकर अपीऱ सं./Ita No.232&233/Ctk/2012 (नििाारण वषा / Assessment Year :2007-2008 & 2008-2009) Acit, Circle-2(2), Bhubaneswar Vs. Rajdhani Systems &Estates (P) Ltd., A/170, Sahid Nagar, Bhubaneswar स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No. : Aabcr 8271 L (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. & आयकर अपीऱ सं./Ita No.253&254/Ctk/2012 (नििाारण वषा / Assessment Year :2007-2008 & 2008-2009) Rajdhani Systems &Estates Vs. Acit, Circle-2(2), (P) Ltd., A/170, Sahid Bhubaneswar Nagar, Bhubaneswar स्थायी लेखा सं./ Pan No. : Aabcr 8271 L (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. राजस्व की ओर से /Revenue By : Shri A.K.Mohapatra, Citdr निर्ााररती की ओर से /Assessee By : Shri B.D.Ojha, Ar सुनवाई की तारीख / Date Of Hearing : 19/09/2017 घोषणा की तारीख/Date Of Pronouncement 21/09/2017 आदेश / O R D E R Per Shri N.S.Saini, Am: These Are Cross Appeals Filed By The Revenue & Assessee Against The Separate Orders Of The Cit(A)-Ii, Bhubaneswar All Dated 01.02.2012 For The Assessment Years 2007-08 & 2008-09. 2. Since The Issue & Facts Involved In These Appeals Are Interconnected, Therefore, They Are Being Heard & Disposed Off Together As Under.

For Appellant: Shri B.D.Ojha, ARFor Respondent: Shri A.K.Mohapatra, CITDR
Section 132

…de. Such findings are given in; (i)Ayushakti Ayurved Pvt. Ltd. vs. ACIT (2010) 4 ITR (Trib.) 537 (Mum) (ii)Monarch Foods Pvt. Ltd. vs. ACIT (1996) 54 TTJ (Ahd) 405 (iii)ACIT vs. Kerala Transport Co. (1994) 51 ITD (Coch) 405 (iv)Om Prakash Joshi vs. ITO (2009) 123 TTJ 246. (v)Lavrids Knudsen Maskinfabrik (India) Ltd. vs. Addl.CIT 102 TTJ 882. (vi)ITA No.0224/2008-09 in the case of Raj Kishore Rout vs. ITO, Ward- 2(2), Cuttack. (vii)Rajat Tradecom India Pvt. Ltd. vs. DCIT, 3 ITR (Trib) 321 (Indore ITAT) (viii)Mumbai Bench of ITAT in Pearl Farben Chem Pvt. Ltd. ITA No.ll22/Mum/2010 order dt.12/11/2010. (ix)M/s. Epco…

537 (Mum) (ii)Monarch Foods Pvt. Ltd. vs. ACIT (1996) 54 TTJ (Ahd) 405 (iii)ACIT v. Kerala Transport Co. (123 TTJ 246) — Cited in 8 Judgments | BharatTax