CIT v. Dhanalakshmi Corporation

46 ITR 1031High Court#17947 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2017 to 2019.

Judgments citing CIT v. Dhanalakshmi Corporation

DCIT vs. M/S Jupiter Capial Pvt. Ltd

In the result, appeal of the Revenue is partly allowed

ITA 1595/BANG/2013[2010-11]Status: DisposedITAT Bangalore13 Dec 2019AY 2010-11

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadaleassessment Year : 2010-11 Dcit, Circle 11(5), M/S. Jupiter Capital (P) Ltd., Bengaluru-560001. No. 54, Richmond Road, Vs. Bengaluru-560025. Pan : Aabcj 5666 R Appellant Respondent Revenue By : Shri. Pradeep Kumar, Jcit (Dr)(Itat), Bengaluru Assessee By : Smt. Pratibha, Advocate Date Of Hearing : 13.11.2019 Date Of Pronouncement : 13.12.2019

For Appellant: Smt. Pratibha, AdvocateFor Respondent: Shri. Pradeep Kumar, JCIT (DR)(ITAT), Bengaluru
Section 14ASection 36(1)Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI A. K. GARODIA, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Assessment year : 2010-11 DCIT, Circle 11(5), M/s. Jupiter Capital (P) Ltd., Bengaluru-560001. No. 54, Richmond Road, Vs. Bengaluru-560025. PAN : AABCJ 5666 R APPELLANT RESPONDENT Revenue by : Shri. Pradeep Kumar, JCIT (DR)(ITAT), Bengaluru Assessee by : Smt. Pratibha, Advocate Date of hearing : 13.11.2019 Date of Pronouncement : 13.12.2019 O R D E R Per A. K. Garodia, Accountant Member This appeal is filed by the Revenue and the same is directed against the order o…

R.V. Steels Pvt. Ltd, Chennai vs. ACIT, Central Circleii(3), Chennai

In the result appeal of the assessee is dismissed

ITA 2201/CHNY/2017[2007-08]Status: DisposedITAT Chennai13 Aug 2018AY 2007-08

Bench: Shri A.Mohan Alankamony & Shri Duvvuru Rl Reddy

For Appellant: Shri AR.V. Sreenivasan, JCITFor Respondent: 13.06.2018
Section 143(2)Section 143(3)Section 250(6)Section 41(1)

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘A’ BENCH, CHENNAI "ी ए. मोहन अलंकामणी, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER आयकर अपील सं./I.T.A.No.2201/Chny/2017 ("नधा"रण वष" / Assessment Year: 2007-08) M/s. R.V. Steels Pvt. Ltd., Vs The ACIT, 108, Mahatma Gandhi Road, Central Circle III(3), Nungambakkam, Chennai – 34. Chennai – 34. PAN: AAACR2457B (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri Sital Kumar Jain, CA अपीलाथ" क" ओर से/ Appellant by : Shri AR.V. Sreenivasan…

ACIT, Chennai vs. Green House Promoters Private Ltd., Chennai

In the result, the appeals of the Revenue in ITA Nos

ITA 1828/CHNY/2015[2009-10]Status: DisposedITAT Chennai21 Jun 2017AY 2009-10

Bench: Shri Chandra Poojari & Shri Duvvuru R.L. Reddyआयकर अपील सं./Ita Nos. 1785, 1796 & 1828/Mds/2015 "नधा"रण वष" /Assessment Years :2010-11, 2011-12 & 2009-2010. The Assistant Commissioner Of Income M/S. Green House Promoters Tax Vs. Pvt. Ltd, Company Circle Ii(1) No.4,Rama Rao Street, Chennai. T. Nagar, Chennai 600 017. [Pan Aaccg 2333B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. Supriyo Pal, IRS, JCITFor Respondent: Shri. Y. Sridhar, C.A
Section 194CSection 40Section 4U

…bdullabhai Abdulkadar (1961) 41 ITR 545 (SC), in every case the test is, was the debt due as an incident to the business; if it is not of that character it will be a capital loss. The High Court of Madras in the case of CIT v. Dhanalakshmi Corporation [1962] (46 ITR 1031)(Mad.) also held that the advances made in the course of the normal trading activity, are eligible for write off as bad debts. Further, as held by the Supreme Court in the case of CIT v. Mysore Sugar Co. Ltd. [1962] (46 ITR 649)(SC), to find out whether an expenditure is on the capital account or on the business. Since all payments reduce capital…

ACIT, Chennai vs. Green House Promoters Private Ltd., Chennai

In the result, the appeals of the Revenue in ITA Nos

ITA 1796/CHNY/2015[2011-12]Status: DisposedITAT Chennai21 Jun 2017AY 2011-12

Bench: Shri Chandra Poojari & Shri Duvvuru R.L. Reddyआयकर अपील सं./Ita Nos. 1785, 1796 & 1828/Mds/2015 "नधा"रण वष" /Assessment Years :2010-11, 2011-12 & 2009-2010. The Assistant Commissioner Of Income M/S. Green House Promoters Tax Vs. Pvt. Ltd, Company Circle Ii(1) No.4,Rama Rao Street, Chennai. T. Nagar, Chennai 600 017. [Pan Aaccg 2333B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. Supriyo Pal, IRS, JCITFor Respondent: Shri. Y. Sridhar, C.A
Section 194CSection 40Section 4U

…bdullabhai Abdulkadar (1961) 41 ITR 545 (SC), in every case the test is, was the debt due as an incident to the business; if it is not of that character it will be a capital loss. The High Court of Madras in the case of CIT v. Dhanalakshmi Corporation [1962] (46 ITR 1031)(Mad.) also held that the advances made in the course of the normal trading activity, are eligible for write off as bad debts. Further, as held by the Supreme Court in the case of CIT v. Mysore Sugar Co. Ltd. [1962] (46 ITR 649)(SC), to find out whether an expenditure is on the capital account or on the business. Since all payments reduce capital…

ACIT, Chennai vs. Green House Promoters P. Ltd., Chennai

In the result, the appeals of the Revenue in ITA Nos

ITA 1785/CHNY/2015[2010-11]Status: DisposedITAT Chennai21 Jun 2017AY 2010-11

Bench: Shri Chandra Poojari & Shri Duvvuru R.L. Reddyआयकर अपील सं./Ita Nos. 1785, 1796 & 1828/Mds/2015 "नधा"रण वष" /Assessment Years :2010-11, 2011-12 & 2009-2010. The Assistant Commissioner Of Income M/S. Green House Promoters Tax Vs. Pvt. Ltd, Company Circle Ii(1) No.4,Rama Rao Street, Chennai. T. Nagar, Chennai 600 017. [Pan Aaccg 2333B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. Supriyo Pal, IRS, JCITFor Respondent: Shri. Y. Sridhar, C.A
Section 194CSection 40Section 4U

…bdullabhai Abdulkadar (1961) 41 ITR 545 (SC), in every case the test is, was the debt due as an incident to the business; if it is not of that character it will be a capital loss. The High Court of Madras in the case of CIT v. Dhanalakshmi Corporation [1962] (46 ITR 1031)(Mad.) also held that the advances made in the course of the normal trading activity, are eligible for write off as bad debts. Further, as held by the Supreme Court in the case of CIT v. Mysore Sugar Co. Ltd. [1962] (46 ITR 649)(SC), to find out whether an expenditure is on the capital account or on the business. Since all payments reduce capital…

CIT v. Dhanalakshmi Corporation (46 ITR 1031) — Cited in 5 Judgments | BharatTax