Bangalore and Zaheer Mauritius v. DIT

270 CTR 244High Court#24136 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2019 to 2022.

Judgments citing Bangalore and Zaheer Mauritius v. DIT

M/S. Te Connectivity Services India Private Limited, Bangalore vs. Assistant Commissioner of Income Tax, Circle-7(1)(1), Bangalore

In the result, the appeal by the assessee is partly allowed

ITA 191/BANG/2022[2017-18]Status: DisposedITAT Bangalore16 Sept 2022AY 2017-18

Bench: Shri N. V. Vasudevan & Ms. Padmavathy Sit(Tp)A No.191/Bang/2022 Assessment Year : 2017-18 M/S. Te Connectivity Services India Private Vs. National Faceless Assessment Centre, Limited, Delhi. 59/2, 1St Floor, Gurudas Heritage, Block-B, 100 Feet Ring Road, Banashankari 2Nd Stage, Bengaluru – 560 070. Pan: Aafct 3474 R Appellant Respondent Assessee By : Shri. Sriram Seshadri, Ca Revenue By : Dr. Manjunath Karkihalli, Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 14.09.2022 Date Of Pronouncement : 16.09.2022 O R D E R Per N. V. Vasudevan:

For Appellant: Shri. Sriram Seshadri, CAFor Respondent: Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru
Section 143(3)Section 144BSection 92Section 92C

…stitute debt instruments and the interest payable thereon is a deductible expenditure till the same is converted into equity. The assessee relied on the decisions rendered in M/s CAE Flight Training India Pvt Ltd by ITAT Bangalore and Zaheer Mauritius Vs DIT, 270 CTR 244, Delhi High Court. 18. However, the AO allowed a deduction of Rs 1,56,29,445/- only and the balance amount of Rs 4,53,11,205 was denied the deduction. The DRP upheld the order of the AO on the reasoning that under Section 36(1)(iii) of the Act, deduction is allowed only for amounts borrowed for business purposes and since CCD’s are in the nature…

Mdlr Estates Pvt. Ltd., New Delhi vs. DCIT, Central Circle-14, New Delhi

In the result, both the appeals filed by the respective assessees are partly allowed for statistical purpose

ITA 8215/DEL/2018[2008-09]Status: DisposedITAT Delhi11 Jun 2019AY 2008-09

Bench: Sh. R. K. Panda & Sh. Kuldip Singhassessment Year: 2008-09

Section 142Section 144Section 153ASection 264

…ing decisions he submitted that transactions entered into by two sister concerns cannot be a valid ground for addition :- 1. ITA No. 596/Kol/2011 M/s Pluto Finance (P) Ltd 2. ITA No. 1840/Mum/2005 Shri Jayesh P. Choksi v. ACIT 3. Zaheer Mauritius v. DIT (IT) 270 CTR 244 (Del) 4. ITA No. 729/Del/2011 M/s Consolidated Finvest & Holding Ltd. v. Asstt. CIT 23. The Ld. DR on the other hand strongly relied on the order of the CIT(A) and submitted that there was non compliance by the assessee before the Assessing Officer during the original assessment proceedings for which order was passed u/s. 144 / 153 A on 21.12.200…

Mdlr Builders P.Ltd, New Delhi vs. DCIT, Central Circle-14, New Delhi

In the result, both the appeals filed by the respective assessees are partly allowed for statistical purpose

ITA 8214/DEL/2018[2008-09]Status: DisposedITAT Delhi11 Jun 2019AY 2008-09

Bench: Sh. R. K. Panda & Sh. Kuldip Singhassessment Year: 2008-09

Section 142Section 144Section 153ASection 264

…ing decisions he submitted that transactions entered into by two sister concerns cannot be a valid ground for addition :- 1. ITA No. 596/Kol/2011 M/s Pluto Finance (P) Ltd 2. ITA No. 1840/Mum/2005 Shri Jayesh P. Choksi v. ACIT 3. Zaheer Mauritius v. DIT (IT) 270 CTR 244 (Del) 4. ITA No. 729/Del/2011 M/s Consolidated Finvest & Holding Ltd. v. Asstt. CIT 23. The Ld. DR on the other hand strongly relied on the order of the CIT(A) and submitted that there was non compliance by the assessee before the Assessing Officer during the original assessment proceedings for which order was passed u/s. 144 / 153 A on 21.12.200…