Addl. CIT v. B.M.S. (P.) Ltd.

119 ITR 321High Court1979#11035 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2022.

Judgments citing Addl. CIT v. B.M.S. (P.) Ltd.

M/S. CHAMBAL FERTILIZERS AND CHEMICALS LIMITED,KOTA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA

In the result, appeal of the revenue is dismissed

ITA 744/JPR/2018[2014-15]Status: DisposedITAT Jaipur13 May 2022AY 2014-15
For Appellant: Shri Percy PardiwallaFor Respondent: Shri Sanjay Dhariwal (CIT)
Section 40A(2)(b)

…e case the loss suffered by the assessee was a revenue loss and not a capital loss. It was held by the Orissa High Court in CIT v. Industry & Commerce Enterprises (P.)Ltd. [1979] 118 ITR 606 and by the Madras High Court in Addl. CIT v. B.M.S. (P.) Ltd. [1979] 119 ITR 321 and again in CIT v. Dhandayuthapani Foundry (P.) Ltd. [1980] 123 ITR 709, that where the Government bonds or securities were purchased by the assessee with a view to increasing his business with the Government or with the object of retaining the goodwill of the authorities for the purpose of his business, the loss incurred on the sale of such bon…

CHAMBAL FERTILISERS AND CHEMICALS LIMITED,KOTA vs. ACIT, KOTA

In the result, appeal of the revenue is dismissed

ITA 291/JPR/2017[2013-14]Status: DisposedITAT Jaipur13 May 2022AY 2013-14
For Appellant: Shri Percy PardiwallaFor Respondent: Shri Sanjay Dhariwal (CIT)
Section 40A(2)(b)

…e case the loss suffered by the assessee was a revenue loss and not a capital loss. It was held by the Orissa High Court in CIT v. Industry & Commerce Enterprises (P.)Ltd. [1979] 118 ITR 606 and by the Madras High Court in Addl. CIT v. B.M.S. (P.) Ltd. [1979] 119 ITR 321 and again in CIT v. Dhandayuthapani Foundry (P.) Ltd. [1980] 123 ITR 709, that where the Government bonds or securities were purchased by the assessee with a view to increasing his business with the Government or with the object of retaining the goodwill of the authorities for the purpose of his business, the loss incurred on the sale of such bon…

CHAMBAL FERTILISERS AND CHEMICALS LIMITED,KOTA vs. DCIT, KOTA

In the result, appeal of the revenue is dismissed

ITA 201/JPR/2017[2012-13]Status: DisposedITAT Jaipur13 May 2022AY 2012-13
For Appellant: Shri Percy PardiwallaFor Respondent: Shri Sanjay Dhariwal (CIT)
Section 40A(2)(b)

…e case the loss suffered by the assessee was a revenue loss and not a capital loss. It was held by the Orissa High Court in CIT v. Industry & Commerce Enterprises (P.)Ltd. [1979] 118 ITR 606 and by the Madras High Court in Addl. CIT v. B.M.S. (P.) Ltd. [1979] 119 ITR 321 and again in CIT v. Dhandayuthapani Foundry (P.) Ltd. [1980] 123 ITR 709, that where the Government bonds or securities were purchased by the assessee with a view to increasing his business with the Government or with the object of retaining the goodwill of the authorities for the purpose of his business, the loss incurred on the sale of such bon…

THE DCIT, CIRCLE-4,, AHMEDABAD vs. GHCL LIMITED, AHMEDABAD

ITA 976/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad05 Mar 2021AY 2009-10
For Appellant: Shri S. N. Soparkar, Sr. A.R. &For Respondent: Shri Mohd. Usman, CIR-D.R. &
Section 143(2)Section 144C(2)(b)Section 144C(5)Section 14ASection 37(1)Section 92C

…ue loss and not a capital loss.—CIT vs. Patnaik & Co. P. Ltd. [1979) 117 ITR 388 (Ori) : TC14R.517 reversed; CIT vs. Industry and Commerce Enterprises P. Ltd. (1979) 118 ITR 606 (Ori) : TC14R.519, Addl. CIT vs. B.M.S. (P) Ltd. (1979) 11 CTR (Mad) 146 : (1979) 119 ITR 321 (Mad) : TC14R.520 and CIT vs. Dandayuthaponi Foundry P. Ltd. (1980) 17 CTR (Mad) 338 : (1980) i23 ITR 709 (Mad) : TC14R.520#1 approved. Conclusion: Loss on sa e of securities, purchased with a view to obtain preferential treatment from the Government, is a business loss." (iv) DCIT v. Guiaral Small Industries Corporation 120041 84 TTJ 22 (Ahd) "B…

GHCL LIMITED,AHMEDABAD vs. THE DY.CIT., CIRCLE-4,, AHMEDABAD

ITA 1042/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad05 Mar 2021AY 2009-10
For Appellant: Shri S. N. Soparkar, Sr. A.R. &For Respondent: Shri Mohd. Usman, CIR-D.R. &
Section 143(2)Section 144C(2)(b)Section 144C(5)Section 14ASection 37(1)Section 92C

…ue loss and not a capital loss.—CIT vs. Patnaik & Co. P. Ltd. [1979) 117 ITR 388 (Ori) : TC14R.517 reversed; CIT vs. Industry and Commerce Enterprises P. Ltd. (1979) 118 ITR 606 (Ori) : TC14R.519, Addl. CIT vs. B.M.S. (P) Ltd. (1979) 11 CTR (Mad) 146 : (1979) 119 ITR 321 (Mad) : TC14R.520 and CIT vs. Dandayuthaponi Foundry P. Ltd. (1980) 17 CTR (Mad) 338 : (1980) i23 ITR 709 (Mad) : TC14R.520#1 approved. Conclusion: Loss on sa e of securities, purchased with a view to obtain preferential treatment from the Government, is a business loss." (iv) DCIT v. Guiaral Small Industries Corporation 120041 84 TTJ 22 (Ahd) "B…

M/S ACE DESIGNERS LIMITED vs. THE ADDITIONAL COMMISSIONER OF

In the result, the order of the Tribunal dated

ITA/184/2013HC Karnataka09 Sept 2020

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 143(2)Section 260Section 260ASection 28

…foresaid submissions, reliance has been placed in ‘CIT VS. M/S COLGATE PALMOLIVE (INDIA) LTD’, 370 ITR 718 (BOM.), ‘PATNAIK AND CO LTD. VS. CIT’, 161 ITR 365 (SC), ‘CIT VS. INVESTA INDUSTRIAL CORPN. LTD’, (1979) 119 ITR 380, ‘ADDL. CIT VS. BMS (P) LTD’, 119 ITR 321 (MAD.), ‘CIT VS. DHANDAYUTHAPATI FOUNDRY (PRIVATE) LIMITED’, 123 ITR 709 (MAD.), ‘INDIAN COMMERCIAL AND INDSUTRIES CO. (P) LTD. VS. CIT’, 213 ITR 533 (MAD.), ‘CIT VS. INDUSTRY AND COMMERCE ENTERPRISES (P) 8 LTD’, 118 ITR 606 (ORISSA), ‘RAJASHTHAN FINANCIAL CORPORATION VS. CIT’, 65 ITR 112 (RAJ), ‘BRIGHT ENTERPRISES PVT. LTD.…

HINDUSTAN PETROLEUM CORPORATION LTD,MUMBAI vs. ADDL CIT RG 1(1), MUMBAI

In the result we affirm the order of ld CIT(A) id affirmed and

ITA 5378/MUM/2010[2006-07]Status: DisposedITAT Mumbai09 Oct 2019AY 2006-07

Bench: Shri Shamim Yahya () & Shri Pawan Singh () Hindustan Petroleum The Addl.Cit, Range-1(1), Corporation Ltd., Mumbai 17, Jamashedji Tata Road, V/S Mumbai-400 020 Pan: Aaach1118B Appellant Respondent

Section 14ASection 37Section 37(1)

…r to and rely upon the following decisions in support of their contentions:-  Patnaik & Co.Ltd vs CIT(Orissa) 161 ITR 365 (SC)  CIT vs Gannon Dunkerley & Co. Ltd 119 ITR 595 (Bom) > CIT vs. Industry and Commerce Enterprise 118 ITR 606 (Orissa) > CIT vs. BMS 119 ITR 321 (MAD) > CIT vs. Dhandayuthanpani 123 ITR 709 (MAD) 7. Deduction for feasibility study expenses - Rs. 45,03,5807- Appellants submit that on the facts and in the circumstances of the case and a true and proper interpretation of the provisions of Section 37(1) of income Tax Act, 1961, the CIT(A) erred in disallowing the Additional claim lodged durin…

JCIT, RANG-2, KOTA vs. CHAMBAL FERTILISERS AND CHEMICALS LIMITED, KOTA

In the result, respective grounds of appeal are allowed for statistical purposes

ITA 575/JPR/2015[2011-12]Status: DisposedITAT Jaipur17 Oct 2018AY 2011-12
For Appellant: Shri Percy Pardiwala (Adv.)For Respondent: Shri Varinder Mehta (CIT)
Section 14A

…e case the loss suffered by the assessee was a revenue loss and not a capital loss. It was held by the Orissa High Court in CIT v. Industry & Commerce Enterprises (P.)Ltd. [1979] 118 ITR 606 and by the Madras High Court in Addl. CIT v. B.M.S. (P.) Ltd. [1979] 119 ITR 321 and again in CIT v. Dhandayuthapani Foundry (P.) Ltd. [1980] 123 ITR 709, that where the Government bonds or securities were purchased by the assessee with a view to increasing his business with the Government or with the object of retaining the goodwill of the authorities for the purpose of his business, the loss incurred on the sale of such bon…

CHAMBAL FERTILISERS AND CHEMICALS LIMITED,KOTA vs. JCIT, KOTA

In the result, respective grounds of appeal are allowed for statistical purposes

ITA 461/JPR/2015[2011-12]Status: DisposedITAT Jaipur17 Oct 2018AY 2011-12
For Appellant: Shri Percy Pardiwala (Adv.)For Respondent: Shri Varinder Mehta (CIT)
Section 14A

…e case the loss suffered by the assessee was a revenue loss and not a capital loss. It was held by the Orissa High Court in CIT v. Industry & Commerce Enterprises (P.)Ltd. [1979] 118 ITR 606 and by the Madras High Court in Addl. CIT v. B.M.S. (P.) Ltd. [1979] 119 ITR 321 and again in CIT v. Dhandayuthapani Foundry (P.) Ltd. [1980] 123 ITR 709, that where the Government bonds or securities were purchased by the assessee with a view to increasing his business with the Government or with the object of retaining the goodwill of the authorities for the purpose of his business, the loss incurred on the sale of such bon…

Addl. CIT v. B.M.S. (P.) Ltd. (119 ITR 321) — Cited in 9 Judgments | BharatTax