Blue Bay Fisheries (P.) Ltd. v. CIT

166 ITR 1High Court1987#22983 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2021.

Judgments citing Blue Bay Fisheries (P.) Ltd. v. CIT

Hollister Medical India Pvt. Ltd., New Delhi vs. DCIT, Circle- 11(1), New Delhi

The appeal of the assessee is partly allowed for statistical purpose

ITA 4133/DEL/2017[2013-14]Status: DisposedITAT Delhi23 Mar 2021AY 2013-14

Bench: Shri N. K. Billaiya & Ms Suchitra Kamble

Section 143(3)Section 234B

…Assessing Officer on 9/3/2016. The claim of ESOP expenditure has been determined as allowable expenditure by various decisions of the Hon’ble Supreme Court in following cases:- (a) Kedarnath Jute Mill Company Ltd. 82 ITR 363. (b) (b) Sutlej Cotton Mills Ltd. 166 ITR 1 (c) United Commercial Bank 240 ITR 355 (d) Taparia Tools Ltd. 372 ITR 605 These expenses were incurred in the course of business of assessee and were let out as well as expanded wholly and exclusively for the business purpose only. Though in the original order of assessment, the Assessing Officer has not taken cognizance of this aspect and the ass…

Income Tax Officer (It)-4(1)(1), Mumbai vs. Mr. Prabhakar Raghavendra Rao, Mumbai

In the result, appeal of the revenue is dismissed

ITA 3985/MUM/2018[2014-15]Status: DisposedITAT Mumbai06 Nov 2019AY 2014-15

Bench: Shri M.Balaganesh, Am & Shri Amarjit Singh, Jm Income Tax Officer (Intl. Vs. Mr. Prabhakar Raghavendra Tax) – 4(1)(1), Rao 1729, Air India Building Flat No.602, Palm Paradise Nariman Point Palm Beach Road Mumbai – 400 021 Sector-17, Sanpada, Navi Mumbai – 400 705 Pan/Gir No. Aafpr3259K (Appellant) .. (Respondent)

Section 119(2)(b)Section 143Section 143(3)Section 43B

…ase of CIT v. Narayan Dairy Products [1996] 219 ITR 478/85 Taxman 375 (SC) (SC) wherein the similar word transfer was interpreted. Further, he also referred to the decision of Hon'ble Kerala High Court in the case of Blue Bay Fisheries (P.) Ltd. v. CIT [1987] 166 ITR 1/31 Taxman 393 (Ker), wherein the same issue of transfer is discussed. According to DIT(IT), transfer of shares of Moran Tea Co. (I) Ltd., transferring the controlling interest in the business of the said company and accordingly, the resultant receipt is capital gains taxable u/s. 55(2)(a) of the Act. 7. In view of the above facts, we are of the vie…

M/S Trans Global Plc( Early Known As Moran Holdings Plc), Kolkata vs. D, I, T (It) 3(1), Kolkata

In the result, appeal of assessee is allowed

ITA 943/KOL/2013[2008-09]Status: DisposedITAT Kolkata15 Mar 2016AY 2008-09

Bench: Shri Mahavir Singh, Jm & Shri M. Balaganesh, Am]

For Appellant: Sri R. N. Bajoria, Advocate & Sri A. K. Gupta, FCAFor Respondent: N o n e
Section 143(3)Section 263Section 28Section 55(2)(a)

…e Supreme Court in the case of CIT Vs. Narayan Dairy Products (1996) 219 ITR 478 (SC) wherein the similar word transfer was interpreted. Further, he also referred to the decision of Hon’ble Kerala High Court in the case of Blue Bay Fisheries Pvt. Ltd. Vs. CIT 166 ITR 1 (Ker), wherein the same issue of transfer is discussed. According to DIT(IT), transfer of shares of Moran Tea Co. (I) Ltd., transferring the controlling interest in the business of the said company and accordingly, the resultant receipt is capital gains taxable u/s. 55(2)(a) of the Act. 7. In view of the above facts, we are of the view that a peru…

Blue Bay Fisheries (P.) Ltd. v. CIT (166 ITR 1) — Cited in 3 Judgments | BharatTax