CIT v. Aries Advertising (P) Ltd.

255 ITR 510High Court2002#5235 most cited

What is CIT v. Aries Advertising (P) Ltd. authority for?

Amounts credited to the profit and loss account, particularly those arising from trading operations, are taxable as business income. This applies even if the amounts were initially treated differently, such as being considered loans.

22

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2011 to 2024.

Also referred to as

CIT v. Aries Advertising (P) Ltd · 255 ITR 510 · profit and loss account · trading operations · business income · taxable income · waiver of loan · section 28(iv)

Issues it is cited on

section 80lasection 2(19aa)section 80lwaiver of loansection 28(iv)section 80jshort deduction of taxsection 41(1)section 41deduction u/s 80iasection 9(1)(vii)section 17

Judgments citing CIT v. Aries Advertising (P) Ltd.

Rollatainers Ltd vs. Commissioner of Income Tax

ITA/127/2011HC Delhi30 Aug 2011

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

Section 139

…ITA 127 OF 2011 Page 1 of 14 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 127 OF 2011 % Judgment reserved on: 29.7.2011 Judgment Delivered On: 30.8.2011 ROLLATAINERS LTD. . . . APPELLANT Through: Mr. Ajay Vohra, Advocate with Ms. Kavita Jha and Mr. Somnath Shukla, Advocates. VERSUS COMMISSIONER OF INCOME TAX . ..RESPONDENT Through: Mr. Abhishek Maratha, Sr. Standing Counsel. CORAM :- HON‟BLE MR. JUSTICE A.K. SIKRI HON‟BLE MR. JUSTICE M.L. MEHTA 1. Whether Report…

Rollatainers Ltd vs. Commissioner of Income Tax

ITA-127/2011HC Delhi30 Aug 2011
Section 139

…ITA 127 OF 2011 Page 1 of 14 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 127 OF 2011 % Judgment reserved on: 29.7.2011 Judgment Delivered On: 30.8.2011 ROLLATAINERS LTD. . . . APPELLANT Through: Mr. Ajay Vohra, Advocate with Ms. Kavita Jha and Mr. Somnath Shukla, Advocates. VERSUS COMMISSIONER OF INCOME TAX . ..RESPONDENT Through: Mr. Abhishek Maratha, Sr. Standing Counsel. CORAM :- HON‟BLE MR. JUSTICE A.K. SIKRI HON‟BLE MR. JUSTICE M.L. MEHTA 1. Whether Report…