CIT v. Birla Bros P. Ltd. (SC)

77 ITR 751Reported decision#14420 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 366,369 Indian tax judgments — from 2011 to 2022.

Issues it is cited on

section 153a proceedingsexplanation to section 37section 158bdgoing concernprohibited by lawbusiness expediencysection 246section 246asection 30section 200commercial expediencyprincipal commissioner of income-tax

Judgments citing CIT v. Birla Bros P. Ltd. (SC)

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 328/BANG/2022[2013-14]Status: DisposedITAT Bangalore07 Oct 2022AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…tween selling and assessee existed – Assessee under no legal obligation to finance selling agent of its managed company – Guarantee not in the interest nor in the course of business – Loss arising out of same is not deductible. CIT Vs. Birla Bros P. Ltd. (SC) 77 ITR 751. • Assessee received sum from its client for investment in securities – Assessee advanced it to brokers who misappropriated it – Assessee refunded money to its client – Not operational loss of assessee. ABN Amro Bank N.V. Vs. ADIT (ITAT, Kol-TM) 97 ITD 1. • Agreement by assessee company with its directors providing for payment to each of them @ 1.…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 327/BANG/2022[2012-13]Status: DisposedITAT Bangalore07 Oct 2022AY 2012-13

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…tween selling and assessee existed – Assessee under no legal obligation to finance selling agent of its managed company – Guarantee not in the interest nor in the course of business – Loss arising out of same is not deductible. CIT Vs. Birla Bros P. Ltd. (SC) 77 ITR 751. • Assessee received sum from its client for investment in securities – Assessee advanced it to brokers who misappropriated it – Assessee refunded money to its client – Not operational loss of assessee. ABN Amro Bank N.V. Vs. ADIT (ITAT, Kol-TM) 97 ITD 1. • Agreement by assessee company with its directors providing for payment to each of them @ 1.…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 326/BANG/2022[2011-12]Status: DisposedITAT Bangalore07 Oct 2022AY 2011-12

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…tween selling and assessee existed – Assessee under no legal obligation to finance selling agent of its managed company – Guarantee not in the interest nor in the course of business – Loss arising out of same is not deductible. CIT Vs. Birla Bros P. Ltd. (SC) 77 ITR 751. • Assessee received sum from its client for investment in securities – Assessee advanced it to brokers who misappropriated it – Assessee refunded money to its client – Not operational loss of assessee. ABN Amro Bank N.V. Vs. ADIT (ITAT, Kol-TM) 97 ITD 1. • Agreement by assessee company with its directors providing for payment to each of them @ 1.…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 325/BANG/2022[2010-11]Status: DisposedITAT Bangalore07 Oct 2022AY 2010-11

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…tween selling and assessee existed – Assessee under no legal obligation to finance selling agent of its managed company – Guarantee not in the interest nor in the course of business – Loss arising out of same is not deductible. CIT Vs. Birla Bros P. Ltd. (SC) 77 ITR 751. • Assessee received sum from its client for investment in securities – Assessee advanced it to brokers who misappropriated it – Assessee refunded money to its client – Not operational loss of assessee. ABN Amro Bank N.V. Vs. ADIT (ITAT, Kol-TM) 97 ITD 1. • Agreement by assessee company with its directors providing for payment to each of them @ 1.…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 324/BANG/2022[2009-10]Status: DisposedITAT Bangalore07 Oct 2022AY 2009-10

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…tween selling and assessee existed – Assessee under no legal obligation to finance selling agent of its managed company – Guarantee not in the interest nor in the course of business – Loss arising out of same is not deductible. CIT Vs. Birla Bros P. Ltd. (SC) 77 ITR 751. • Assessee received sum from its client for investment in securities – Assessee advanced it to brokers who misappropriated it – Assessee refunded money to its client – Not operational loss of assessee. ABN Amro Bank N.V. Vs. ADIT (ITAT, Kol-TM) 97 ITD 1. • Agreement by assessee company with its directors providing for payment to each of them @ 1.…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 323/BANG/2022[2008-09]Status: DisposedITAT Bangalore07 Oct 2022AY 2008-09

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…tween selling and assessee existed – Assessee under no legal obligation to finance selling agent of its managed company – Guarantee not in the interest nor in the course of business – Loss arising out of same is not deductible. CIT Vs. Birla Bros P. Ltd. (SC) 77 ITR 751. • Assessee received sum from its client for investment in securities – Assessee advanced it to brokers who misappropriated it – Assessee refunded money to its client – Not operational loss of assessee. ABN Amro Bank N.V. Vs. ADIT (ITAT, Kol-TM) 97 ITD 1. • Agreement by assessee company with its directors providing for payment to each of them @ 1.…

Commissioner of Income Tax Delhi VI vs. Tulip Star Hotels Ltd

ITA - 444 / 2008HC Delhi11 May 2011
Section 35DSection 36

…assessee to furnish such a guarantee and in these circumstances, conditions stipulated in Section 36(1)(vii) read with Section 36(2) of the Act were not satisfied as held in the case of *Commissioner of Income-tax* (Central), Calcuita Vs. Birla Bros. P. Lid. [77 ITR 751]. Following discussion from the said judgment was specifically referred to: "......Now a bad debt means a debt which would have gone into the balance sheet as a trading debt in the business or trade. It must arise in the course of and as a result of the assessee's business. The deduction claimed should not be too remote from the business carried…

CIT v. Birla Bros P. Ltd. (SC) (77 ITR 751) — Cited in 7 Judgments | BharatTax