CIT v. Brindavan Beverages Pvt. Ltd.

393 ITR 261High Court2017#17824 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2018 to 2023.

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Judgments citing CIT v. Brindavan Beverages Pvt. Ltd.

The Pr Commissioner of Income Tax vs. M/S Bangalore Housing Development and Investments

Appeals stand dismissed;

ITA/324/2019HC Karnataka29 May 2023

Bench: P.S.DINESH KUMAR,T.G. SHIVASHANKARE GOWDA

Section 260Section 260ASection 37(1)

…s court in Brindavan Beverages Pvt.Ltd, Revenue’s appeal does not merit any consideration. 8. We have carefully considered rival contentions and perused records. 4 [2009] 313 ITR 340 (Bom) 5 [2017] 393 ITR 261 (Kar) - 8 - ITA No. 324/2019 C/W ITA No. 326/2019 9. Undisputed facts of the case are, assessee had lent Rs.30.87 Crores to its sister concern. Shri Kamath is right in his submission that the ITAT is the last fact finding authority and it has recorded in Para 18 of the impugned order that as per the balance sheet for year endin…

M/S. Wave Mechanics Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle-7(1)(2), Bangalore

In the result, the appeal filed by the assessee is allowed

ITA 2032/BANG/2019[2015-16]Status: DisposedITAT Bangalore28 Jun 2021AY 2015-16

Bench: Shri George George K. & Shri B.R. Baskaranassessment Year : 2015-16

For Appellant: Shri Sharath Rao, A.RFor Respondent: Shri Kannan Narayanan, D.R

…own funds available with the assessee is in excess of value of investment and loan given interest free. 4. The Ld. A.R. invited our attention to the decision rendered by Hon’ble Karnataka High Court in the case of CIT Vs. Brindavan Beverages Pvt. Ltd. (2017) 393 ITR 261, wherein the Hon’ble jurisdictional High Court held that Tribunal was justified in deleting the interest disallowance when the assessee had sufficient own funds covering loans and advances made to its directors and sister concerns. The Ld. A.R. submitted that an identical issue was examined by the Hon’ble Bombay High Court in the case of CIT Vs.…

Deputy Commissioner of Income Tax Circle-1(2)(1), Bangalore vs. M/S Bangalore Housing Development and Investments, Bangalore

In the result, the appeal filed by the assessee is allowed

ITA 557/BANG/2018[2014-15]Status: DisposedITAT Bangalore07 Nov 2018AY 2014-15

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

For Appellant: Shri R. Ramakrishna, CAFor Respondent: Dr. P.V. Pradeep Kumar, Addl. CIT (DR)
Section 37(1)

…f Hon’ble Bombay High Court rendered in the case of CIT Vs. Reliance Utilities and Power Ltd. as reported in 313 ITR 340 (Bom.) and also on a judgment of Hon’ble Karnataka High Court rendered in the case of CIT vs. Brindavan Beverages Pvt. Ltd. as reported in 393 ITR 261. 8. Regarding the issue raised by the revenue in its appeal in both years, he submitted that in Assessment Years 2007-08 and 2008-09 similar issue was decided by CIT(A) in favour of the assessee and for those two years, revenue has although filed appeal before the Tribunal in ITA Nos.646 & 811/Bang/2012 dated 20.03.2013 but this issue was not rai…

Deputy Commissioner of Income Tax Circle-1(2)(1), Bangalore vs. M/S Bangalore Housing Development and Investment, Bangalore

In the result, the appeal filed by the assessee is allowed

ITA 556/BANG/2018[2013-14]Status: DisposedITAT Bangalore07 Nov 2018AY 2013-14

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

For Appellant: Shri R. Ramakrishna, CAFor Respondent: Dr. P.V. Pradeep Kumar, Addl. CIT (DR)
Section 37(1)

…f Hon’ble Bombay High Court rendered in the case of CIT Vs. Reliance Utilities and Power Ltd. as reported in 313 ITR 340 (Bom.) and also on a judgment of Hon’ble Karnataka High Court rendered in the case of CIT vs. Brindavan Beverages Pvt. Ltd. as reported in 393 ITR 261. 8. Regarding the issue raised by the revenue in its appeal in both years, he submitted that in Assessment Years 2007-08 and 2008-09 similar issue was decided by CIT(A) in favour of the assessee and for those two years, revenue has although filed appeal before the Tribunal in ITA Nos.646 & 811/Bang/2012 dated 20.03.2013 but this issue was not rai…

M/S Bangalore Housing Deveopment & Investments, Bangalore vs. Assistant Commissioner of Income Tax Circle-1(2)(1), Bangalore

In the result, the appeal filed by the assessee is allowed

ITA 425/BANG/2018[2014-15]Status: DisposedITAT Bangalore07 Nov 2018AY 2014-15

Bench: Shri Sunil Kumar Yadav & Shri Arun Kumar Garodia

For Appellant: Shri R. Ramakrishna, CAFor Respondent: Dr. P.V. Pradeep Kumar, Addl. CIT (DR)
Section 37(1)

…f Hon’ble Bombay High Court rendered in the case of CIT Vs. Reliance Utilities and Power Ltd. as reported in 313 ITR 340 (Bom.) and also on a judgment of Hon’ble Karnataka High Court rendered in the case of CIT vs. Brindavan Beverages Pvt. Ltd. as reported in 393 ITR 261. 8. Regarding the issue raised by the revenue in its appeal in both years, he submitted that in Assessment Years 2007-08 and 2008-09 similar issue was decided by CIT(A) in favour of the assessee and for those two years, revenue has although filed appeal before the Tribunal in ITA Nos.646 & 811/Bang/2012 dated 20.03.2013 but this issue was not rai…