CIT v. Accelerated Freeze Drying Co.

324 ITR 316High Court#15684 most cited
6

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2019.

Judgments citing CIT v. Accelerated Freeze Drying Co.

PHILIP ANIL CHERIAN,PATHANAMTHITTA vs. ACIT, THIRUVALLA

In the result, the appeals of the assessee are partly allowed for statistical

ITA 77/COCH/2018[2008-09]Status: DisposedITAT Cochin05 Feb 2019AY 2008-09

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

Section 36(1)(iii)

…1 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE S/SHRI CHANDRA POOJARI, AM & GEORGE GEORGE K., JM I.T.A. No.77/Coch/2018 Assessment Year : 2008-09 Shri Philip Anil Cherian, Vs. The Assistant Commissioner of M/s. Bigfield Drug Links, Income-tax, Circle-1, Thiruvalla. Pathanamthitta. [AABPC 1071D] (Assessee-Appellant) (Revenue-Respondent) I.T.A. No. 412/Coch/2018 Assessment Year : 2011-12 Shri Philip Anil Cherian, Vs. The Deputy Commissioner of M/s. Bigfield Drug Links, Income-tax, Circle-1, Thiruvalla. Pathanamthitta, [AABPC 1071D] (Assessee-Appellant) (Revenue-Respondent) Ass…

SRI.PHILIP ANIL CHERIAN,PATHANAMTHITTA vs. THE DCIT,CIR-1,, THIRUVALLA

In the result, the appeals of the assessee are partly allowed for statistical

ITA 412/COCH/2018[2011-12]Status: DisposedITAT Cochin05 Feb 2019AY 2011-12

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

Section 36(1)(iii)

…1 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE S/SHRI CHANDRA POOJARI, AM & GEORGE GEORGE K., JM I.T.A. No.77/Coch/2018 Assessment Year : 2008-09 Shri Philip Anil Cherian, Vs. The Assistant Commissioner of M/s. Bigfield Drug Links, Income-tax, Circle-1, Thiruvalla. Pathanamthitta. [AABPC 1071D] (Assessee-Appellant) (Revenue-Respondent) I.T.A. No. 412/Coch/2018 Assessment Year : 2011-12 Shri Philip Anil Cherian, Vs. The Deputy Commissioner of M/s. Bigfield Drug Links, Income-tax, Circle-1, Thiruvalla. Pathanamthitta, [AABPC 1071D] (Assessee-Appellant) (Revenue-Respondent) Ass…

HORIZON INFRASTRUCTURE LTD,MUMBAI vs. ACIT CC 38, MUMBAI

In the result, appeal of the assessee is partly allowed

ITA 356/MUM/2015[2010-11]Status: DisposedITAT Mumbai15 Nov 2017AY 2010-11

Bench: Shri G.S. Pannu & Shri Amarjit Singh: A.Y : 2010-11

For Appellant: Shri J.P. BairagraFor Respondent: Shri M.C. Omi Ningshen &
Section 143(3)Section 14ASection 36

…ave observed that the expenditure of interest has a nexus with the purpose for which the funds were deployed. Secondly, the CIT(A) has relied upon the judgment of the Hon'ble Kerala High Court in the case of CIT Vs. Accelerated Freeze Drying Company Limited., 324 ITR 316 (Kerala). In this case also, it was the failure to demonstrate the commercial expediency which justified the disallowance of interest expenditure. Again, the ratio of the judgment is not applicable in the instant case. Thirdly, CIT(A) has relied upon the judgment of the Hon'ble Delhi High Court in the case of Punjab Stainless Steel Industries Vs.…

JUPITER CAPIAL P. LTD. vs. CIT, BANGALORE

In the result, ITA No. 60/Bang/2012 and 253/Bang/2014 of the assessee are partly allowed for statistical purposes and ITA

ITA 253/BANG/2014[2009-10]Status: DisposedITAT Bangalore28 Feb 2017AY 2009-10

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Raoassessee’S Appeal

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Shri. M. K. Biju, JCIT
Section 14ASection 14A(2)Section 37Section 8D(2)(iii)

…shed the evidence of commercial expediency for advancing such huge amount to its sister concern. While dealing with the issue, the CIT(A) has also placed reliance on the judgment of the Hon’ble High Court in the case of CIT Vs. Accelerated Freeze Drying Co. 324 ITR 316 (Ker). 8. Aggrieved, the assessee is before us with the submission that the assessee has given the interest free advances to its subsidiary, therefore no disallowance can be made. The learned DR placed reliance upon the order of the CIT(A). ITA Nos.60/Bang/2012, 253/Bang/2014, 282/Bang/2012 Page 9 of 23 9. Having carefully examined the orders…

M/S JUPITER CAPITAL (P) LIMITED,BANGALORE vs. ACIT, BANGALORE

In the result, ITA No. 60/Bang/2012 and 253/Bang/2014 of the assessee are partly allowed for statistical purposes and ITA

ITA 60/BANG/2012[2008-09]Status: DisposedITAT Bangalore28 Feb 2017AY 2008-09

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Raoassessee’S Appeal

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Shri. M. K. Biju, JCIT
Section 14ASection 14A(2)Section 37Section 8D(2)(iii)

…shed the evidence of commercial expediency for advancing such huge amount to its sister concern. While dealing with the issue, the CIT(A) has also placed reliance on the judgment of the Hon’ble High Court in the case of CIT Vs. Accelerated Freeze Drying Co. 324 ITR 316 (Ker). 8. Aggrieved, the assessee is before us with the submission that the assessee has given the interest free advances to its subsidiary, therefore no disallowance can be made. The learned DR placed reliance upon the order of the CIT(A). ITA Nos.60/Bang/2012, 253/Bang/2014, 282/Bang/2012 Page 9 of 23 9. Having carefully examined the orders…

ACIT, BANGALORE vs. M/S JUPITER CAPITAL (P) LTD.,, BANGALORE

In the result, ITA No. 60/Bang/2012 and 253/Bang/2014 of the assessee are partly allowed for statistical purposes and ITA

ITA 282/BANG/2012[2008-09]Status: DisposedITAT Bangalore28 Feb 2017AY 2008-09

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Raoassessee’S Appeal

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Shri. M. K. Biju, JCIT
Section 14ASection 14A(2)Section 37Section 8D(2)(iii)

…shed the evidence of commercial expediency for advancing such huge amount to its sister concern. While dealing with the issue, the CIT(A) has also placed reliance on the judgment of the Hon’ble High Court in the case of CIT Vs. Accelerated Freeze Drying Co. 324 ITR 316 (Ker). 8. Aggrieved, the assessee is before us with the submission that the assessee has given the interest free advances to its subsidiary, therefore no disallowance can be made. The learned DR placed reliance upon the order of the CIT(A). ITA Nos.60/Bang/2012, 253/Bang/2014, 282/Bang/2012 Page 9 of 23 9. Having carefully examined the orders…

CIT v. Accelerated Freeze Drying Co. (324 ITR 316) — Cited in 6 Judgments | BharatTax