Alembic Chemical Works Co. Ltd. v. Commissioner of Income Tax, Gujarat

3 SCC 329Reported decision1989#24318 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 348,487 Indian tax judgments — from 2017 to 2021.

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Judgments citing Alembic Chemical Works Co. Ltd. v. Commissioner of Income Tax, Gujarat

The Principal Commissioner of Income Tax vs. M/S. Apollo Tyres Ltd

Appeal is allowed in part as indicated

ITA/44/2017HC Kerala22 Sept 2021

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE VIJU ABRAHAM

For Appellant: M/S. APOLLO TYRES LTDFor Respondent: THE PRINCIPAL COMMISSIONER OF INCOME TAX
Section 143(3)Section 144CSection 144C(5)Section 35Section 43ASection 92C

…s,therefore, made no distinction in section 36(1)(iii) between "capital borrowed for a revenue purpose" and "capital borrowed for a capital purpose". An assessee is entitled to claim interest paid on borrowed capital provided that the capital is used 7 (1989 3 SCC 329 ITA No.44/2017 -13- for business purpose irrespective of what may be the result of using the capital which the assessee has borrowed." Actual cost of an asset has no relevancy in relation to Section 36(1)(iii). The proviso inserted in section 36(1)(iii) by the Finance Act, 2003, with effect from April 1,2004, will operate prospectively.…

M/S Abhipra Capital Ltd vs. Deputy Commissioner of Income

The appeal is disposed of, affirming the decision of the Tribunal on the

ITA/676/2005HC Delhi15 Feb 2018

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE CHANDER SHEKHAR

Section 260ASection 37

…ge. It was, therefore, expenditure to bring business into existence. It was observed that the aim and object of the expenditure determines character of the expenditure. 17. Alembic Chemical Works Co. Ltd. Vs. Commissioner of Income Tax, Gujarat (1989) 3 SCC 329, elucidates and affirms that a “once and for all payment”, when it brings into existence an asset or advantage of enduring benefit, in the absence of special circumstances leading to an opposite conclusion, is capital expenditure and not attributable to revenue. This is the primary and basic test. The appellant-assessee has not been able to…

Principal Commissioner of Income Tax vs. M/s. The Andhra Petro Chemicals Limited

ITTA/515/2017HC Telangana21 Aug 2017
Alembic Chemical Works Co. Ltd. v. Commissioner of Income Tax, Gujarat (3 SCC 329) — Cited in 3 Judgments | BharatTax