CIT v. E-Funds International India

162 Taxmann 1High Court2007#4805 most cited

What is CIT v. E-Funds International India authority for?

An assessee is considered to have commenced business in a relevant previous year if it has taken all necessary steps to obtain business, including marketing efforts, even if no revenue has been earned yet. The Assessing Officer cannot disallow a claim of loss on the grounds that business had not commenced if these steps have been taken.

24

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2012 to 2023.

Also referred to as

CIT v E-Funds International India · section 37 · business commencement · revenue expenditure · previous year · marketing efforts · disallowance of loss · Delhi High Court

Issues it is cited on

revenue expendituresection 37section 37(1)previous yearopportunity of being heardcompanyindiabusinessperson

Judgments citing CIT v. E-Funds International India

Reliance Gems & Jewels Ltd, Mumbai vs. DCIT 3(3), Mumbai

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

ITA 3855/MUM/2013[2008-09]Status: DisposedITAT Mumbai28 Oct 2015AY 2008-09

Bench: Shri N.K. Billaiya & Shri Amarjit Singhआयकर अपील सं/ I.T.A. No.3855/Mum/2013 ("नधा"रण वष" / Assessment Year:2008-09 Reliance Gems & Jewels The Dcit 3(3), बनाम/ Ltd., 9Th Floor, Aayakar Bhavan, Vs. Maker Chamber Iv, Mumbai-400 020 222, Nariman Point, Mumbai-400 021 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacr 7404C .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant By: Shri F.V. Irani ""यथ" क" ओर से/Respondent By: Shri Vivek Anand Ojha

For Appellant: Shri F.V. IraniFor Respondent: Shri Vivek Anand
Section 28Section 3Section 37Section 37(1)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ , मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER आयकर अपील सं/ I.T.A. No.3855/Mum/2013 ("नधा"रण वष" / Assessment Year:2008-09 Reliance Gems & Jewels The DCIT 3(3), बनाम/ Ltd., 9th Floor, Aayakar Bhavan, Vs. Maker Chamber IV, Mumbai-400 020 222, Nariman Point, Mumbai-400 021 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACR 7404C .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से/ Appellant by: Shri F.V. Irani ""यथ" क" ओर से/Respondent by: Shri Vivek Anand Ojha सुनवाई क…

Carefour Wc&C India Private Limited vs. Deputy Commissioner of Income Tax

ITA/42/2014HC Delhi22 Sept 2014
Section 260ASection 28Section 43D

…ITA No. 42/2014 Page 1 of 23 * IN THE HIGH COURT OF DELHI AT NEW DELHI Judgment Reserved on August 11, 2014 Judgment Delivered on September 22, 2014 + ITA No. 42/2014 CAREFOUR WC&C INDIA PRIVATE LIMITED ..... Petitioner Through: Mr. Ajay Vohra, Ms.Kavita Jha, Mr.Vaibhav Kulkarni, Advocates versus DEPUTY COMMISSIONER OF INCOME TAX ..... Respondent Through: Mr.Rohit Madan, Sr.Standing Counsel CORAM: HON'BLE MR. JUSTICE SANJIV KHANNA HO…

Omniglobe Information Tech India Pvt Ltd

ITA/257/2012HC Delhi11 Aug 2014
Section 10B

…ITA 257/2012 Page 1 of 18 $~55 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 11th August, 2014 + INCOME TAX APPEAL 257/2012 OMNIGLOBE INFORMATION TECH INDIA PVT LTD ..... Appellant Through Mr. Ajay Vohra and Ms. Kavita Jha, Advocates. versus CIT ..... Respondent Through Mr. Sanjeev Sabharwal, Sr. Standing Counsel. CORAM: HON'BLE MR. JUSTICE SANJIV KHANNA HON'BLE MR. JUSTICE V. KAMESWAR RAO SANJIV KHANNA, J. (ORAL) This appeal by the assessee pertains t…

The Commissioner of Income Tax- I vs. M/s. Avon Organics Limited

ITTA/257/2012HC Telangana17 Jul 2012

Bench: GODA RAGHURAM,M.S.RAMACHANDRA RAO