CIT v. Chandne W.Pvt.L

212 ITR 63High Court1995#19876 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2018 to 2022.

Judgments citing CIT v. Chandne W.Pvt.L

Grameen Impact Investment India Pvt Ltd, Mumbai vs. National -E Assessment Centre, Delhi

In the result, all the three appeals of the assessee are allowed

ITA 2375/MUM/2022[2018-19]Status: DisposedITAT Mumbai29 Dec 2022AY 2018-19

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2018-19 Grameen Impact Investments India National-E-Assessment Pvt. Ltd., Centre, 306, 3Rd Floor, A Wing, Devroop Vs. New Delhi-110 001. Building, 36, Turner Road, Bandra West, Mumbai-400050. Pan No. Aaacr 9005 R Appellant Respondent Assessee By : Mr. K. Shivaram & Mr. Shashi Bekal, Ars : Revenue By Mr. Satyapal Kumar, Dr Date Of Hearing : 19/12/2022 Assessment Year: 2015-16 & Assessment Year: 2016-17 Grameen Impact Investments India Dy. Cit-13(3)(1), Pvt. Ltd., Room No. 229, Aayakar 306, 3Rd Floor, A Wing, Devroop Vs. Bhavan, M.K. Road, Building, 36, Turner Road, Bandra Mumbai-400050. West, Mumbai-400050. Pan No. Aaacr 9005 R Appellant Respondent

For Appellant: Mr. K. Shivaram & Mr. Shashi
Section 56

…ned by the assessee, the following observation is mentioned by the assessee, the following observation is stated as under: stated as under:- 7A. regarding case 7A. regarding case law CIT v. Chandrie & Co. P. Ltd [1995] law CIT v. Chandrie & Co. P. Ltd [1995] 212 ITR 63 (Mad.) 212 ITR 63 (Mad.) (HC): The above-mentioned case law is not applicable in this mentioned case law is not applicable in this mentioned case law is not applicable in this case as it is not related to the issue as per Para 1 and case as it is not related to the issue as per Para 1 and case as it is not related to the issue as per Para 1 and P…

The ACIT, Circle-1(3), Ahmedabad vs. The Kalupur Commercial Co.-Op. Bank Ltd, Ahmedabad

In the result, appeal of the assessee is allowed, whereas appeal Revenue is dismissed

ITA 1934/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad25 May 2018AY 2011-12

Bench: Shri Pramod Kumar & Shri Rajpal Yadavआयकर अपील सं./ Ita No.1234/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2011-12 The Kalupur Commercial Co-Op Vs. Dcit, Cir.7 Bank Ltd. Ambawadi Ahmedabad 380015. Kalupur Bank Bhavan Nr. Income Tax Cir. Ashram Road Ahmedabad 380 009. Pan : Aaaat 9360 R

For Appellant: Shri S.N. Soparkar, ARFor Respondent: Shri Saurabh Singh, Sr.DR
Section 143(2)

…e or voluntarily, cannot be said to be unconnected with the business, or as not being commercially expedient, so long as quantum of payment is reasonable, having regard to all the circumstances relevant to that business enterprise. CIT V. Chandne W.Pvt.L td. 212 ITR 63 (Madras) Atlas Cycle Indus. Ltd. V. CIT 129ITR 60 (P A H)" 5. The ld.AO was not satisfied with the explanation of the assessee, and he made disallowance of Rs.1,24,39,012/-. Appeal to the ld.CIT(A) did not bring any relief to the assessee. 6. Identical expenditure has been incurred in the assessment year 2008-09, which was deleted by the ITAT vi…

The Kalupur Commercial Co.Op. Bank Ltd., Ahmedabad vs. The Dy. Commissioner of Income Tax, Circle-7, Ahmedabad

In the result, appeal of the assessee is allowed, whereas appeal Revenue is dismissed

ITA 1234/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad25 May 2018AY 2011-12

Bench: Shri Pramod Kumar & Shri Rajpal Yadavआयकर अपील सं./ Ita No.1234/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2011-12 The Kalupur Commercial Co-Op Vs. Dcit, Cir.7 Bank Ltd. Ambawadi Ahmedabad 380015. Kalupur Bank Bhavan Nr. Income Tax Cir. Ashram Road Ahmedabad 380 009. Pan : Aaaat 9360 R

For Appellant: Shri S.N. Soparkar, ARFor Respondent: Shri Saurabh Singh, Sr.DR
Section 143(2)

…e or voluntarily, cannot be said to be unconnected with the business, or as not being commercially expedient, so long as quantum of payment is reasonable, having regard to all the circumstances relevant to that business enterprise. CIT V. Chandne W.Pvt.L td. 212 ITR 63 (Madras) Atlas Cycle Indus. Ltd. V. CIT 129ITR 60 (P A H)" 5. The ld.AO was not satisfied with the explanation of the assessee, and he made disallowance of Rs.1,24,39,012/-. Appeal to the ld.CIT(A) did not bring any relief to the assessee. 6. Identical expenditure has been incurred in the assessment year 2008-09, which was deleted by the ITAT vi…

Oil Field Instrumentation (India) Pvt. Ltd., Mumbai vs. Addl. CIT RG. 1(2) & CIT (OSD), Mumbai

ITA 2233/MUM/2016[2011-12]Status: DisposedITAT Mumbai28 Feb 2018AY 2011-12

Bench: Shrir. C. Sharma, Am & Shri Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 2233/Mum/2016 (निर्धारणवर्ा / Assessment Year:2011-12)

For Appellant: Sh. M. C. OmiFor Respondent: Dr. K. Shivaram & Shri
Section 143(3)Section 14ASection 32(1)Section 32(1)(iia)Section 40A(2)

…ee”. As per the assessee, this amount was expended wholly and exclusively for the purpose of Assessee's business and with FDN's efforts, the Assessee was able to successfully enter the oil and gas sector. In the case of CIT Vrs. Chandri & Co. Pvt. Ltd. (1995) 212 ITR 63, it is held that the expression ‘wholly and exclusively’ used in section 37(1) does not mean ‘necessarily’. So long as there is a reasonable nexus between the expenditure and the business, the expenditure will be regarded as having been incurred for the purpose of the business. In the case of case J. K. Wollen Manufacturers Vrs. CIT (1972) 72 ITR…

CIT v. Chandne W.Pvt.L (212 ITR 63) — Cited in 4 Judgments | BharatTax