62 79 Marolia & Sons Vs. CIT(All) 129 of the Income-tax Rule, 1962 475 Tirupati Trading Co. v. CIT(Cal.)

225 ITR 560High Court1997#11306 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2023.

Judgments citing 62 79 Marolia & Sons Vs. CIT(All) 129 of the Income-tax Rule, 1962 475 Tirupati Trading Co. v. CIT(Cal.)

M/S. Rmz Hotels Private Limited, Bangalore vs. National E-Assessment Centre, Delhi

In the result, the appeal of the assessee is allowed

ITA 954/BANG/2022[2018-19]Status: DisposedITAT Bangalore22 Feb 2023AY 2018-19

Bench: Shri Chandra Poojariassessment Year: 2018-19

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri Ganesh R. Ghale, Standing Counsel for Department
Section 234Section 255Section 255(3)Section 36

…ITA No.954/Bang/2022 M/s. RMZ Hotels Private Limited, Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” “C’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER Assessment Year: 2018-19 M/s. RMZ Hotels Private Limited The Millenia Level 1 & 14, No.1 & 2 Murphy Road NFAC Vs. Ulsoor Delhi Bangalore 560 008. PAN NO : AADCR3654H APPELLANT RESPONDENT Appellant by : Shri V. Srinivasan, A.R. Respondent by : Shri Ganesh R. Ghale, Standing Counsel for Department. Date of Hearing : 08.02.2023 Date of Pronouncement : 22.02.2023 O R D E R This appeal by assessee is directed against order of CIT(A) dat…

Acme Avenue Infrastructure Pvt. Ltd., Mumbai vs. ITO 9 (1)(1), Mumbai

In the result, the appeal is allowed for statistical purposes

ITA 4284/MUM/2019[2016-17]Status: DisposedITAT Mumbai18 Mar 2021AY 2016-17

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2016-17

For Appellant: NoneFor Respondent: Ms. Smita Verma, DR
Section 143(3)Section 36Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “SMC” MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2016-17 Acme Avenue Infrastructure ITO-9(1)(1), Private Limited, Vs. Aayakar Bhavan, Building 10, 5th floor, Solitaire Mumbai-400020 Corporate Park, Guru Har Govindji Marg, Chakala, Andheri-400059. PAN No. AAJCA 8284 C Appellant Respondent Assessee by : None Revenue by : Ms. Smita Verma, DR Date of Hearing : 16/02/2021 Date of pronouncement : 18/03/2021 ORDER PER N.K. PRADHAN, A.M. This is an appeal filed by the assessee. The relevant assessment…

ACIT 16(1), Mumbai vs. Tips Industries Ltd, Mumbai

In the result, the appeal filed by revenue in ITA no

ITA 6291/MUM/2017[2012-13]Status: DisposedITAT Mumbai03 May 2019AY 2012-13

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…ion Co. Pvt Ltd. vs. ClT(Gau) 199ITR 702 CIT vs. India Silk House (Mad.) 152 of the Income-tax Rule, 1962 79 Marolia & Sons Vs. CIT(All) 129 of the Income-tax Rule, 1962 475 Tirupati Trading Co. Vs. CIT(Cal.) 242 ITR 13 CIT Vs. Sujanni Textiles (P) Ltd.(Mad-) 225 ITR 560 CIT Vs. P. Ganu Rao and Sons (Mad.) 185 ITR 324" Thus, in the light of above, factual references and judicial proposals, the disallowance of interest expenditure of Rs. 1,08,00,000/- made u/s.36(1)(iii) is sustained.” 7.2. Similarly, the assessee also contended before learned CIT(A) that an amount of Rs. 20,00,000/- paid on account of advance tow…

Tips Industries Ltd, Mumbai vs. ACIT 16(1), Mumbai

In the result, the appeal filed by revenue in ITA no

ITA 6196/MUM/2017[2013-14]Status: DisposedITAT Mumbai03 May 2019AY 2013-14

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…ion Co. Pvt Ltd. vs. ClT(Gau) 199ITR 702 CIT vs. India Silk House (Mad.) 152 of the Income-tax Rule, 1962 79 Marolia & Sons Vs. CIT(All) 129 of the Income-tax Rule, 1962 475 Tirupati Trading Co. Vs. CIT(Cal.) 242 ITR 13 CIT Vs. Sujanni Textiles (P) Ltd.(Mad-) 225 ITR 560 CIT Vs. P. Ganu Rao and Sons (Mad.) 185 ITR 324" Thus, in the light of above, factual references and judicial proposals, the disallowance of interest expenditure of Rs. 1,08,00,000/- made u/s.36(1)(iii) is sustained.” 7.2. Similarly, the assessee also contended before learned CIT(A) that an amount of Rs. 20,00,000/- paid on account of advance tow…

Tips Industries Ltd, Mumbai vs. ACIT 16(1), Mumbai

In the result, the appeal filed by revenue in ITA no

ITA 6195/MUM/2017[2012-13]Status: DisposedITAT Mumbai03 May 2019AY 2012-13

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…ion Co. Pvt Ltd. vs. ClT(Gau) 199ITR 702 CIT vs. India Silk House (Mad.) 152 of the Income-tax Rule, 1962 79 Marolia & Sons Vs. CIT(All) 129 of the Income-tax Rule, 1962 475 Tirupati Trading Co. Vs. CIT(Cal.) 242 ITR 13 CIT Vs. Sujanni Textiles (P) Ltd.(Mad-) 225 ITR 560 CIT Vs. P. Ganu Rao and Sons (Mad.) 185 ITR 324" Thus, in the light of above, factual references and judicial proposals, the disallowance of interest expenditure of Rs. 1,08,00,000/- made u/s.36(1)(iii) is sustained.” 7.2. Similarly, the assessee also contended before learned CIT(A) that an amount of Rs. 20,00,000/- paid on account of advance tow…

Tips Industries Ltd, Mumbai vs. ACIT 11(1), Mumbai

In the result, the appeal filed by revenue in ITA no

ITA 6194/MUM/2017[2011-12]Status: DisposedITAT Mumbai03 May 2019AY 2011-12

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…ion Co. Pvt Ltd. vs. ClT(Gau) 199ITR 702 CIT vs. India Silk House (Mad.) 152 of the Income-tax Rule, 1962 79 Marolia & Sons Vs. CIT(All) 129 of the Income-tax Rule, 1962 475 Tirupati Trading Co. Vs. CIT(Cal.) 242 ITR 13 CIT Vs. Sujanni Textiles (P) Ltd.(Mad-) 225 ITR 560 CIT Vs. P. Ganu Rao and Sons (Mad.) 185 ITR 324" Thus, in the light of above, factual references and judicial proposals, the disallowance of interest expenditure of Rs. 1,08,00,000/- made u/s.36(1)(iii) is sustained.” 7.2. Similarly, the assessee also contended before learned CIT(A) that an amount of Rs. 20,00,000/- paid on account of advance tow…

Kuloday Technopack P. Ltd, Mumbai vs. ITO 8(2)(2), Mumbai

In the result, appeal of the assessee in ITA No

ITA 3300/MUM/2013[2009-10]Status: DisposedITAT Mumbai29 Sept 2017AY 2009-10

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No. 3300/Mum/2013 (नििाारण वर्ा / Assessment Year : 2009-10 ) आयकर अपीऱ सं./I.T.A. No. 2423/Mum/2014 (नििाारण वर्ा / Assessment Year : 2010-11)

For Appellant: Shri. M. SubramanianFor Respondent: Shri Rajesh Kumar Yadav,DR
Section 143(3)Section 154Section 172Section 172(1)Section 194CSection 195Section 40

…(Bom), Phaltan Sugar Works Ltd. vs. CIT (1994) 122 CTR (Bom) 344: (1995) 215 ITR 582 (Bom), Elmer Havell Electrics & Ors. vs. CIT & Anr. (2005) 197 CTR (Del) 316 : (2005) 277 ITR 549 (Del) and C1T vs. Sujanni Textiles (P) Ltd. (1998) 147 CTR (Mad) 417: (1997) 225 ITR 560 (Mad) relied on; Veecumsees vs. CIT (1996) 133 CTR (SC) 500 : (1996) 9 SCC 25 distinguished; CIT vs. Orissa Cement Ltd. (2001) 252 ITR 878 (Del), CIT vs. Tin Box Co. (2003) 182 CTR (Del) 171 : (2003) 260 ITR 637 (Del), CIT vs. Radico Khaitan Ltd. (2005) 194 CTR (All) 451 : (2005) 274 ITR 354 (All), CIT vs. Prem Heavy Engineering Works (P) Ltd. (2…

Streamline Shipping Co. P. Ltd, Mumbai vs. DCIT 3(3), Mumbai

In the result, the appeal is partly allowed

ITA 855/MUM/2012[2007-08]Status: DisposedITAT Mumbai28 Apr 2017AY 2007-08

Bench: Shri Joginder Singh () & Shri N.K. Pradhan () Assessment Year: 2007-08

For Appellant: Shri M. Subramanian, ARFor Respondent: Shri Vishwas Mundhe, DR
Section 10(34)Section 143(3)Section 14ASection 271

…y refer to the decision in Highways Construction Co. Pvt. Ltd. vs. CIT (Gau) 199 ITR 702, CIT vs. India Silk House (Mad) 152 ITR 79, Marolia & Sons vs. CIT (All) 129 ITR 475, Tirupati Trading Co vs. CIT (CL) 242 ITR 13, CIT vs. Sujanni Textiles (P) Ltd. (Mad) 225 ITR 560, CIT vs. H.R. Sugar Factory (P) Ltd. (All) 187 ITR 363, CIT vs. P. Ganu Rao and Sons (Mad) 185 ITR 324. The contention of the assessee that the total rate of interest including exchange fluctuations comes to 13% is to be verified. In view of the above the order of the learned CIT(A) on the above issue is set aside and the same is restored to the…

P.Sundararajan, Avanashi vs. DCIT, Tiruppur

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

ITA 1666/CHNY/2013[2006-07]Status: DisposedITAT Chennai25 Jun 2015AY 2006-07

Bench: Shri Chandra Poojari & Shri V. Durga Raoआयकर अपील सं./ I.T.A. No.1666/Mds/2013 ("नधा"रण वष" / Assessment Year : 2006-2007)

For Appellant: Shri. G. Baskar, AdvocateFor Respondent: Shri. N. Madhavan, IRS, JCIT
Section 143(3)Section 147Section 148Section 36

…erest and had advanced funds by diversion or otherwise to its sister concern free of interest. Taking this and other findings by the Tribunal into consideration, the appeal was dismissed. 14.11 In Commissioner of Income Tax v. Sujanni Textiles (P) Ltd. , 225 ITR 560, the Madras High Court disallowed the interest on I.T.A.No.1666/Mds/2013. :- 26 -: the borrowed capital to the extent the same was advanced to the Directors without interest. 14.12 In Indian Metals & Ferro Alloys Ltd. v. Commissioner of Income Tax (1992) 193 ITR 344, Orissa High Court held as under (page 348): ‘’The determinative question i…