ACIT v. Samrat Rice Mills (P.) Ltd.

23 Taxmann.com 350High Court2012#9555 most cited

What is ACIT v. Samrat Rice Mills (P.) Ltd. authority for?

A decision of the Delhi Tribunal in ACIT vs. Samrat Rice Mills (P) Ltd. (2012) 23 taxmann.com 350 (Delhi) is not relevant when an addition has been deleted due to the availability of surplus interest-free funds with the assessee, irrespective of whether the funds were used for business or non-business purposes.

11

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2017 to 2025.

Also referred to as

ACIT v. Samrat Rice Mills · 23 taxmann.com 350 · interest free funds · business expediency · deletion of disallowance · surplus funds · non-business purpose · Delhi Tribunal · taxability of interest · Section 36(1)(iii)

Sections most often in play

Section 36(1)(iii)Section 143(3)Section 153A(1)(b)Section 195Section 1961Section 35DSection 37(1)Section 40(a)(ia)

Issues it is cited on

section 5(2)(b)section 5(2)section 35dinterest free advancesmaximum marginal ratesection 40a(2)(b)section 40a(2)business expediencywritten down valuesection 36(1)(iii)sundry creditorsrejection of books of account

Judgments citing ACIT v. Samrat Rice Mills (P.) Ltd.

The Assistant Commr. of Income Tax, Gandhidham Circle, Gandhidham-Kutch vs. M/S Kutch Salt & Allied Industries Ltd., Gandhidham-Kutch

In the result, cross objections filed by the assessee are allowed for statistical purposes

ITA 366/RJT/2017[2013-14]Status: DisposedITAT Rajkot17 Mar 2025AY 2013-14

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

For Appellant: Shri K. C. Thacker, Ld. A.RFor Respondent: Shri Sanjay Punglia,Ld.CIT (DR)
Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER IT (SS)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 to 2012-13) (Hybrid Hearing) Asstt. Commissioner of Income Tax, Vs. M/s. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACT1769L (Appellant) (Respondent) ITA No. 366 /Rjt/2017 Assessment Year: (2013-14) (Hybrid Hearing) Asstt. Commissioner of Income Tax, Vs. M/s. Kutch Salt &…

The Assistant Commr. of Income Tax, Gandhidham Circle, Gandhinagar vs. M/S Kutch Salt & Allied Industries Ltd., Gandhidham

In the result, cross objections filed by the assessee are allowed for statistical purposes

ITA 236/RJT/2016[2012-13]Status: DisposedITAT Rajkot17 Mar 2025AY 2012-13

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

For Appellant: Shri K. C. Thacker, Ld. A.RFor Respondent: Shri Sanjay Punglia,Ld.CIT (DR)
Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER IT (SS)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 to 2012-13) (Hybrid Hearing) Asstt. Commissioner of Income Tax, Vs. M/s. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACT1769L (Appellant) (Respondent) ITA No. 366 /Rjt/2017 Assessment Year: (2013-14) (Hybrid Hearing) Asstt. Commissioner of Income Tax, Vs. M/s. Kutch Salt &…

The Assistant Commr. of Income Tax, Gandhidham Circle, Gandhinagar vs. M/S Kutch Salt & Allied Industries Ltd., Gandhidham

In the result, cross objections filed by the assessee are allowed for statistical purposes

ITA 235/RJT/2016[2011-12]Status: DisposedITAT Rajkot17 Mar 2025AY 2011-12

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

For Appellant: Shri K. C. Thacker, Ld. A.RFor Respondent: Shri Sanjay Punglia,Ld.CIT (DR)
Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER IT (SS)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 to 2012-13) (Hybrid Hearing) Asstt. Commissioner of Income Tax, Vs. M/s. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACT1769L (Appellant) (Respondent) ITA No. 366 /Rjt/2017 Assessment Year: (2013-14) (Hybrid Hearing) Asstt. Commissioner of Income Tax, Vs. M/s. Kutch Salt &…

The Assistant Commr. of Income Tax, Gandhidham Circle, Gandhinagar vs. M/S Kutch Salt & Allied Industries Ltd., Gandhidham

In the result, cross objections filed by the assessee are allowed for statistical purposes

ITA 234/RJT/2016[2010-11]Status: DisposedITAT Rajkot17 Mar 2025AY 2010-11

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

For Appellant: Shri K. C. Thacker, Ld. A.RFor Respondent: Shri Sanjay Punglia,Ld.CIT (DR)
Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER IT (SS)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 to 2012-13) (Hybrid Hearing) Asstt. Commissioner of Income Tax, Vs. M/s. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACT1769L (Appellant) (Respondent) ITA No. 366 /Rjt/2017 Assessment Year: (2013-14) (Hybrid Hearing) Asstt. Commissioner of Income Tax, Vs. M/s. Kutch Salt &…

The Assistant Commr. of Income Tax, Gandhidham Circle, Gandhinagar vs. M/S Kutch Salt & Allied Industries Ltd., Gandhidham

In the result, cross objections filed by the assessee are allowed for statistical purposes

ITA 233/RJT/2016[2009-10]Status: DisposedITAT Rajkot17 Mar 2025AY 2009-10

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhait (Ss)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 To 2012-13) (Hybrid Hearing) Asstt. Commissioner Of Income Tax, Vs. M/S. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaact1769L (Appellant) (Respondent)

For Appellant: Shri K. C. Thacker, Ld. A.RFor Respondent: Shri Sanjay Punglia,Ld.CIT (DR)
Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER IT (SS)A No.233& 234 & 235 & 236 /Rjt/2016 Assessment Year: (2009-10 to 2012-13) (Hybrid Hearing) Asstt. Commissioner of Income Tax, Vs. M/s. Kutch Salt & Allied Gandhidham Circle, Industries Ltd., Gandhidham - Kutch Maitri Bhavan, Plot No.-18, Sector-8, Gandhidham - Kutch "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACT1769L (Appellant) (Respondent) ITA No. 366 /Rjt/2017 Assessment Year: (2013-14) (Hybrid Hearing) Asstt. Commissioner of Income Tax, Vs. M/s. Kutch Salt &…

Kandla Export Corporation, Gandhidham vs. The Dy. Commr. of Income Tax, Cen. Cir.-2(3), Ahmedabad

In the result, the summaries and concise ground No

ITA 155/RJT/2016[2012-13]Status: DisposedITAT Rajkot28 Feb 2025AY 2012-13

Bench: Dr. Arjun Lal Saini, Am.& Dinesh Mohan Sinha, Jm आयकरअपीलसं./It(Ss)A No.135/Ahd/2016 ("नधा"रणवष" / Assessment Year: (2011-12) (Hybrid Hearing) The Deputy Commissioner Of Vs. Kandla Exports Corporation Income – Tax, Central Circle – 2(3), Plot No. 18, Maitri Bhavan, 3Rd Floor, A – 305, Aayakar Bhavan, Sector – 8, Gandhidham, Ahmedabad – 370201 Kutch- 370201 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacfk1906F (Assessee) (Respondent) आयकरअपीलसं./It(Ss)A No.136/Ahd/2016 ("नधा"रणवष" / Assessment Year: (2012-13) (Hybrid Hearing) The Deputy Commissioner Of Kandla Exports Corporation Vs Income – Tax, Central Circle – Plot No. 18, Maitri Bhavan, . 2(3), 3Rd Floor, A – 305, Aayakar Sector – 8, Gandhidham, Bhavan, Ahmedabad - 370201 Kutch- 370201 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aacfk1906F (Assessee) (Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, AM.& DINESH MOHAN SINHA, JM आयकरअपीलसं./IT(SS)A No.135/Ahd/2016 ("नधा"रणवष" / Assessment Year: (2011-12) (Hybrid Hearing) The Deputy Commissioner of Vs. Kandla Exports Corporation Income – tax, Central Circle – 2(3), Plot No. 18, Maitri Bhavan, 3rd Floor, A – 305, Aayakar Bhavan, Sector – 8, Gandhidham, Ahmedabad – 370201 Kutch- 370201 "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AACFK1906F (Assessee) (Respondent) आयकरअपीलसं./IT(SS)A No.136/Ahd/2016 ("नधा"रणवष" / Assessment Year: (2012-13) (Hybrid Hearing) The Deputy Commissioner of Ka…

ACIT 2(2)(1), Mumbai vs. Mediacom Communications Private Limited, Mumbai

In the result, the appeal of the revenue is dismissed

ITA 68/MUM/2024[AY 2016-17]Status: DisposedITAT Mumbai21 Jun 2024

Bench: Shri Amarjit Singh & Shri Rahul Chaudhary, Acit 2(2)(1) Vs. Mediacom Room No. 545, 5 Th Floor Communications Private Aayakar Bhavan, Limited, 349 Business M.K. Road, Point, Western Express Maharashtra - 400020 Highway Andheri Eeast Maharashtra – 400059 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aafcm6252N Appellant .. Respondent

For Appellant: Nikhil TiwariFor Respondent: Smiti Samant
Section 133(6)Section 143(3)Section 250Section 41(1)

…P a g e | 1 ACIT, 2(2)(1) Vs. Mediacom Communication Pvt. Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER & SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER, ACIT 2(2)(1) Vs. Mediacom Room No. 545, 5 th Floor Communications Private Aayakar Bhavan, Limited, 349 Business M.K. Road, Point, Western Express Maharashtra - 400020 Highway Andheri Eeast Maharashtra – 400059 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAFCM6252N Appellant .. Respondent Appellant by : Nikhil Tiwari Respondent by : Smiti Samant Date of Hearing 21.05.2024 Date of Pronouncement 21.06.2024 आदेश /…

ACIT, New Delhi vs. M/S. Escorts Heart Institute & Research Centre Ltd., New Delhi

In the result, the appeal of the Revenue for A

ITA 5661/DEL/2015[2011-12]Status: DisposedITAT Delhi12 Jul 2018AY 2011-12

Bench: : Shri Amit Shukla & Shri L.P. Sahu

Section 36(1)(iii)

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘E, New Delhi Before : Shri Amit Shukla, Judicial Member And Shri L.P. Sahu, Accountant Member ITA Nos. 5660 & 5661/Del/2015 Assessment Years: 2010-11 & 2011-12 ACIT, Circle 8(2), vs. Escorts Heart Institute & Research New Delhi. Centre Ltd., Okhla Road, New Delhi. PAN – AAACE8731F (Appellant) (Respondent) Revenue by Shri R.M. Mehta, C.A. Assessee by Shri Sujit Kumar, Sr. DR Date of Hearing 03.07.2018 Date of Pronouncement 12.07.2018 ORDER Per L.P. Sahu, A.M.: These two appeal at the instance of Revenue are directed against the orders dated 31.07.2015 of…

ACIT, New Delhi vs. M/S. Escorts Heart Institute & Research Centre Ltd., New Delhi

In the result, the appeal of the Revenue for A

ITA 5660/DEL/2015[2010-11]Status: DisposedITAT Delhi12 Jul 2018AY 2010-11

Bench: : Shri Amit Shukla & Shri L.P. Sahu

Section 36(1)(iii)

…In the Income-Tax Appellate Tribunal, Delhi Bench ‘E, New Delhi Before : Shri Amit Shukla, Judicial Member And Shri L.P. Sahu, Accountant Member ITA Nos. 5660 & 5661/Del/2015 Assessment Years: 2010-11 & 2011-12 ACIT, Circle 8(2), vs. Escorts Heart Institute & Research New Delhi. Centre Ltd., Okhla Road, New Delhi. PAN – AAACE8731F (Appellant) (Respondent) Revenue by Shri R.M. Mehta, C.A. Assessee by Shri Sujit Kumar, Sr. DR Date of Hearing 03.07.2018 Date of Pronouncement 12.07.2018 ORDER Per L.P. Sahu, A.M.: These two appeal at the instance of Revenue are directed against the orders dated 31.07.2015 of…

Dy.C.I.T.1(1), Raipur (Cg) vs. M/S Navbharat Press, Raipur (Cg)

In the result, appeal filed by Revenue is dismissed

ITA 160/BIL/2014[2010-11]Status: DisposedITAT Raipur15 Jan 2018AY 2010-11

Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member Dcit-1(1), Raipur-1 Vs Navbharat Press, Press Complex, G.E.Road, Raipur(C.G.)-492001 Pan No. : Aadfn 0350 R (Appellant) Tsednepser .. Revenue By : Shri Ajit Kumar Laskar, Dr Assessee By : None(Written Submission) Date Of Hearing : 12/01/2018 Date Of Pronouncement 15/01/2018 आदेश / O R D E R Per Shri N.S.Saini, Am: This Is An Appeal Filed By The Revenue Against The Order Of The Cit(A), Raipur, Dated 12.06.2014 For The Assessment Year 2010-2011. 2. The Revenue Has Raised The Following Grounds :- “1. Whether In Law & On Facts & Circumstances Of The Case, The Cit(A) Has Erred In Deleting The Disallowance Of Interest U/S.36(1)(Iii) Of The Income Tax Act, 1961 Of Rs.41,54,811/- As Interest Bearing Funds Were Used For Non-Business Purposes.” 3. Brief Facts Of The Case Are That The Assessee Is A Partnership Firm Derives Income From Printing & Publishing Of Hindi Daily Newspaper “Nav Bharat” & English Daily “Central Chronicle” From Raipur. The Assessee Filed Its Return Of Income Declaring Total Income Of Rs.1,85,77,530/-. Thereafter The Ao Framed The Assessment U/S.143(3) Of The Act Determining The Total Income Of The Assessee At Rs.2,27,32,341/-.

For Appellant: None(Written Submission)For Respondent: Shri Ajit Kumar Laskar, DR
Section 143(3)Section 36(1)(iii)Section 44A

…IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR BEFORE : SHRI N.S.SAINI, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICAL MEMBER DCIT-1(1), Raipur-1 vs Navbharat Press, Press Complex, G.E.Road, Raipur(C.G.)-492001 PAN No. : AADFN 0350 R (Appellant) tsednepseR .. Revenue by : Shri Ajit Kumar Laskar, DR Assessee by : None(Written Submission) Date of Hearing : 12/01/2018 Date of Pronouncement 15/01/2018 आदेश / O R D E R Per Shri N.S.Saini, AM: This is an appeal filed by the Revenue against the order of the CIT(A), Raipur, dated 12.06.2014 for the assessment year 2010-2011. 2. The Revenue has ra…

DCIT, New Delhi vs. M/S. Escort Heart Institute & Research Centre Ltd., New Delhi

In the result, the appeal of the Revenue stands dismissed

ITA 6674/DEL/2013[2008-09]Status: DisposedITAT Delhi18 Apr 2017AY 2008-09

Bench: Shri R.S. Syal & Ms Suchitra Kambleassessment Year : 2008-09 Dcit, Vs. Escort Heart Institute & Research Circle-11(1), Centre Ltd., New Delhi. Okhla Road, New Delhi. Pan: Aaace8731F Assessee By : Shri R.M. Mehta, Advocate Deptt. By : Shri U.C. Dubey, Sr. Dr

For Appellant: Shri R.M. Mehta, Advocate
Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : D : NEW DELHI BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Assessment Year : 2008-09 DCIT, Vs. Escort Heart Institute & Research Circle-11(1), Centre Ltd., New Delhi. Okhla Road, New Delhi. PAN: AAACE8731F Assessee By : Shri R.M. Mehta, Advocate Deptt. By : Shri U.C. Dubey, Sr. DR Date of Hearing : 17.04.2017 Date of Pronouncement : 18.04.2017 ORDER PER R.S. SYAL, VP: This appeal by the Revenue arises out of the order passed by the CIT(A) on 03.09.2013 in relation to the assessment year 2008-09. 2. The first ground is agains…

ACIT v. Samrat Rice Mills (P.) Ltd. (23 Taxmann.com 350) — Cited in 11 Judgments | BharatTax