CIT, Udaipur v. Hotel Hilltop

313 ITR 116High Court2009#4843 most cited
24

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2023.

Judgments citing CIT, Udaipur v. Hotel Hilltop

M/S Jupiter Entertainment Ventures (P) Ltd vs. ACIT

In the result, the appeal of the revenue is dismissed

ITA 792/BANG/2013[2009-10]Status: DisposedITAT Bangalore03 Nov 2016AY 2009-10

Bench: Shri A.K. Garodia & Smt. Asha Vijayaraghavanassessment Year : 2009-10

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Ms. Neera Malhotra, CIT(DR)

…not a shareholder of the lender company and under these facts, it was held by the Hon’ble Karnataka High Court that the matter is covered in favour of assessee by the decision of Hon’ble Rajasthan High Court in the case of CIT v. Hotel Hill Top as reported in 313 ITR 116 (Raj) and the matter was decided by the Hon’ble Karnataka High Court also in favour of assessee. It is submitted that in the present case also, the lender companies are Jupiter Capital Pvt. Ltd. and Hindustan Infrastructure Projects and Engg. Pvt. Ltd. and on page 27 of assessment order, the AO himself has noted the shareholding pattern of these…

D.C.I.T., Cen. Circle-VIII, Kolkata vs. M/S East End Silks (P) Ltd., Kolkata

In the result the appeal by the Revenue is dismissed

ITA 38/KOL/2014[2010-2011]Status: DisposedITAT Kolkata10 Aug 2016AY 2010-2011

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am] I.T.A No. 38/Kol/2014 Assessment Year : 2010-11

For Appellant: Shri Rajat Kumar Kureel, JCIT. Sr.DRFor Respondent: Shri Anil Kochar, AR
Section 2(22)Section 2(22)(e)Section 263

…In its order, the Hon’ble ITAT ‘A ‘Bench, Kolkata has held as under :- “3. Before us the learned counsel for the assessee submitted that on identical set of facts the decision of the Hon’ble Rajasthan High Court in the case of CIT vs Hotel Hilltop reported in 313 ITR 116 (Raj) is directly in favour of the assessee is not a shareholder of Pataka Industries (P)Ltd and accordingly, proceedings u/s 2(22)(e) could not be initiated against the assessee and the amount of loan could not be treated as deemed dividend in the hands of the assessee. However, the learned DR relied on the order u/s 263 of the learned Commissio…

Principle Commissioner vs. Sri. Rajeev

The appeal stands dismissed

ITA/305/2015HC Karnataka23 Feb 2016

Bench: S.SUJATHA,JAYANT PATEL

Section 2(22)(e)Section 22Section 23Section 260

…factual premise that the assessee in the present case was not a shareholder in the lender Company. Further, the Tribunal has also relied upon the decision of Rajasthan High Court in case of Commissioner of Income Tax Vs. Hotel Hilltop reported at (2009) 313 ITR 116 (Raj). 14. Under these circumstances, we find that when the question is already covered by the decision of Rajasthan High Court read with the factual aspects that the assessee was not the shareholder of the lender Company, we do not find that any substantial question 28 of law would arise for consideration as sought to be ca…

ITO, New Delhi vs. M/S Ava Merchandising Solutions Pvt. Ltd., New Delhi

In the result, the Revenue’s Appeal as well as Assessee’s Cross

ITA 5528/DEL/2013[2010-11]Status: DisposedITAT Delhi10 Feb 2016AY 2010-11

Bench: Shri H.S. Sidhu & Shri L.P. Sahuassessment Year: 2010-11

For Appellant: Sh. K.K. Jaiswal, DRFor Respondent: Sh. P.C. Yadav, Adv. &
Section 143(3)Section 2(22)(e)

…ers of the lender company and not in the hands of a beneficial shareholder. Reference may be made to the judgment of Hon'ble ITAT Mumai Bench 'E' (Special Bench) in ACIT v. M/s Bhaumik Color (P) Ltd. Ltd. (2009) 118 ITO 1 as well as the order of Hotel Hilltop 313 ITR 116 Raj. The Jurisdictional High Court in the case of CIT V Ankitech Pvt. Ltd. and Ors. 314 ITR 14 has held that a concern which is given loan or advance by a company cannot be treated as shareholder / member of the latter simply because a shareholder of the lender company holding voting power of toper cent or more therein has substantial interest in…