CIT v. Electrochem Orissa Ltd.

211 ITR 552High Court1995#13743 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 341,001 Indian tax judgments — from 2018 to 2023.

Judgments citing CIT v. Electrochem Orissa Ltd.

M/S. Rmz Hotels Private Limited, Bangalore vs. National E-Assessment Centre, Delhi

In the result, the appeal of the assessee is allowed

ITA 954/BANG/2022[2018-19]Status: DisposedITAT Bangalore22 Feb 2023AY 2018-19

Bench: Shri Chandra Poojariassessment Year: 2018-19

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri Ganesh R. Ghale, Standing Counsel for Department
Section 234Section 255Section 255(3)Section 36

…542 (Mad) : TC 41 R. 544 and Kedar Narain Sinoh vs. CIT (1938) 6 ITR 157 (All) : TC 32R.258 approved; CIT vs. NaQdriuna Steels Ltd. (1988) 71 CTR (AP) 118 : (1988) 171 ITR 663 (AP) : TC 41R.551, CIT vs. Electrochem Orissa Ltd. (1995) 123 CTR (On) 162 : (1995) 211 ITR 552 (Ori) and CIT vs. Maharashtra Electrosmelt ,v Ltg\. (1995) 124 CTR (Bom) 117 : (1995) 214 ITR 489 (Bom) : TC 41R.557 / disapproved; CIT vs. Shaw Wallace & Co. (1932) 59 IA 206~(PC) and Pondicherry -Railway Company Ltd. vs. CIT AIR 1931 PC 165 relied on. (Paras 10 & 12)” M/s. RMZ Hotels Private Limited, Bangalore Page 46 of 79 (iii) Decision of…

Income Tax Officer, Ward-2(1), Hyderabad vs. Ksk Wind Power Sankonahatti Athni Private Limied, Hyderabad

In the result, all the four appeals of the Revenue are allowed

ITA 34/HYD/2019[2014-15]Status: DisposedITAT Hyderabad25 Jan 2022AY 2014-15

Bench: Shri A. Mohan Alankamony & Shri S.S. Godaraassessment Year: 2014-15 Income Tax Officer, Vs. Ksk Wind Energy Ward-2(1), Halagali Benchi Private Hyderabad. Limited, Hyderabad. Pan: Aaeck 1965 F (Appellant) (Respondent) Assessee By: Sri S. Rama Rao Revenue By: Sri Sunil Gowtham, Sr. Ar Assessment Year: 2014-15 Income Tax Officer, Vs. Ksk Wind Power Ward-2(1), Sankonahatti Athni Hyderabad. Private Limited, Hyderabad. Pan: Aaeck 1900 C (Appellant) (Respondent) Assessee By: Sri S. Rama Rao Revenue By: Sri Sunil Gowtham, Sr. Ar Assessment Year: 2014-15 Income Tax Officer, Vs. Ksk Wind Power Ward-2(1), Aminabhavi Chikodi Hyderabad. Private Limited, Hyderabad. Pan: Aaeck 1888 R (Appellant) (Respondent)

For Appellant: Sri S. Rama RaoFor Respondent: Sri Sunil Gowtham, Sr. AR
Section 143(3)Section 56

…ex Court found that it is not the case of the assessee that the interest payable by it on term loan is allowable as deduction u/s. 57 of the Act. The Apex Court after referring to the judgment of the Orissa High Court in CIT vs. Electrochem Orissa Ltd. (1995) 211 ITR 552 and the judgment of the Madras High Court in Seshasayee Paper and Boards Ltd. (supra) disapproved the reading of the judgment of the Madras High Court in Seshasayee Paper and Boards Ltd. (supra) by the Orissa High Court. In fact, the Apex Court has observed as follows: "Our attention was drawn to two other decisions where the view of the Andhra P…

Income Tax Officer, Ward-2(1), Hyderabad vs. Ksk Wind Energy Halagali Benchi Private Limied, Hyderabad

In the result, all the four appeals of the Revenue are allowed

ITA 33/HYD/2019[2014-15]Status: DisposedITAT Hyderabad25 Jan 2022AY 2014-15

Bench: Shri A. Mohan Alankamony & Shri S.S. Godaraassessment Year: 2014-15 Income Tax Officer, Vs. Ksk Wind Energy Ward-2(1), Halagali Benchi Private Hyderabad. Limited, Hyderabad. Pan: Aaeck 1965 F (Appellant) (Respondent) Assessee By: Sri S. Rama Rao Revenue By: Sri Sunil Gowtham, Sr. Ar Assessment Year: 2014-15 Income Tax Officer, Vs. Ksk Wind Power Ward-2(1), Sankonahatti Athni Hyderabad. Private Limited, Hyderabad. Pan: Aaeck 1900 C (Appellant) (Respondent) Assessee By: Sri S. Rama Rao Revenue By: Sri Sunil Gowtham, Sr. Ar Assessment Year: 2014-15 Income Tax Officer, Vs. Ksk Wind Power Ward-2(1), Aminabhavi Chikodi Hyderabad. Private Limited, Hyderabad. Pan: Aaeck 1888 R (Appellant) (Respondent)

For Appellant: Sri S. Rama RaoFor Respondent: Sri Sunil Gowtham, Sr. AR
Section 143(3)Section 56

…ex Court found that it is not the case of the assessee that the interest payable by it on term loan is allowable as deduction u/s. 57 of the Act. The Apex Court after referring to the judgment of the Orissa High Court in CIT vs. Electrochem Orissa Ltd. (1995) 211 ITR 552 and the judgment of the Madras High Court in Seshasayee Paper and Boards Ltd. (supra) disapproved the reading of the judgment of the Madras High Court in Seshasayee Paper and Boards Ltd. (supra) by the Orissa High Court. In fact, the Apex Court has observed as follows: "Our attention was drawn to two other decisions where the view of the Andhra P…

Dy. Commissioner of Income Tax, Circle-16(1), Hyderabad vs. L & T Metro Rail (Hyderabad) Limited, Hyderabad

In the result, appeal of the Revenue is allowed

ITA 1412/HYD/2019[2016-17]Status: DisposedITAT Hyderabad21 Jan 2022AY 2016-17

Bench: Shri A. Mohan Alankamony & Shri S.S. Godaraassessment Year: 2016-17 Dcit, Vs. L & T Metro Rail Circle-16(1), (Hyderabad) Limited, Hyderabad. Hyderabad. Pan: Aabcl 8521 D (Appellant) (Respondent) Assessee By: Shri Ashik Shah Revenue By: Sri B. Sunil Kumar, Dr Date Of Hearing: 25/10/2021 Date Of Pronouncement: 21/01/2022 Order Per A. Mohan Alankamony, Am.:

For Appellant: Shri Ashik ShahFor Respondent: Sri B. Sunil Kumar, DR
Section 143(3)Section 56

…ex Court found that it is not the case of the assessee that the interest payable by it on term loan is allowable as deduction u/s. 57 of the Act. The Apex Court after referring to the judgment of the Orissa High Court in CIT vs. Electrochem Orissa Ltd. (1995) 211 ITR 552 and the judgment of the Madras High Court in Seshasayee Paper and Boards Ltd. (supra) disapproved the reading of the judgment of the Madras High Court in Seshasayee Paper and Boards Ltd. (supra) by the Orissa High Court. In fact, the Apex Court has observed as follows: "Our attention was drawn to two other decisions where the view of the Andhra P…

M/S. Ganpati Global Private Ltd., Jaipur vs. ITO, Ward1(4), Jaipur

In the result, the appeal of the assessee is dismissed

ITA 302/JPR/2020[2013-14]Status: DisposedITAT Jaipur30 Jun 2021AY 2013-14
For Appellant: Shri Anoop Bhatia (CA)For Respondent: Smt. Monisha Choudhary (JCIT) a

…pex Court found that it is not the case of the assessee that the interest payable by it on term loan is allowable as deduction u/s. 57 of the Act. The Apex Court after referring to the judgment of the Orissa High Court in CIT v. Electrochem Orissa Ltd. [1995] 211 ITR 552/78 Taxman 209 and the judgment of the Madras High Court in Seshasayee Paper & Boards Ltd. (supra) disapproved the reading of the judgment of the Madras High Court in Seshasayee Paper & Boards Ltd. (supra) by the Orissa High Court. In fact, the Apex Court has observed as follows: 'Our attention was drawn to two other decisions where the view of th…

Meja Urja Nigam (P) Ltd., Allahabad vs. Income Tax Office Ward-2 (2), Allahabad

In the result, both the appeals of the assessee for ay: 2015-16 and 2016-17

ITA 54/ALLD/2020[2015-16]Status: DisposedITAT Allahabad03 Mar 2021AY 2015-16

Bench: Shri.Vijay Pal Rao & Shri Ramit Kochar

For Appellant: Ms.Namita S. Pandey, CIT DRFor Respondent: Shri Parv Agrawal, CA
Section 143(3)

…f so, the amount will have to be taxed - Pondicherry Railway Co. Ltd. v. CIT AIR 1931 PC 165. 23. Our attention was drawn to two other decisions where the view of the Andhra Pradesh High Court was followed. In the case of CIT v. Electrochem Orissa Ltd. [1995] 211 ITR 552, the Orissa High Court preferred the view expressed by the Andhra Pradesh High Court to the view expressed by the Madras High Court in Seshasayee Paper & Boards Ltd's case (supra) on the ground that the Madras High Court case was based on a finding of fact that there was no direct connection between the interest paid and the interest received. In…

India Metal One Steel Plate Processing Private Ltd., Chennai vs. DCIT, Chennai

In the result, the assessee’s appeal is dismissed

ITA 3497/CHNY/2016[2012-13]Status: DisposedITAT Chennai27 Nov 2018AY 2012-13

Bench: Shri George Mathan & Shri S. Jayaramanआयकर अपील सं/.I.T.A. No. 3497/Chny/2016 "नधा"रण वष"/Assessment Year : 2012-13 M/S. India Metal One Steel Plate The Deputy Commissioner Of Income Processing Pvt. Ltd., Vs. Tax, Prestige Palladium Bayan, Corporate Circle – 2(2), 6Th Floor, Door No. 129 To 140 121, Mahatma Gandhi Road, Greams Road, Chennai – 600 006. Nungambakkam, Chennai – 600 034. [Pan: Aacci 5959F] (अपीलाथ"/Appellant) (%&यथ'/Respondent)

For Appellant: Shri. R. Vijayaraghavan, Advocate

…Madras High Court came to the correct decision in the case of CIT v. Seshasayee Paper and Boards Ltd. [1985] 156 ITR 542. The contrary views expressed in the cases of CIT v. Nagarjuna Steels Ltd. [1988] 171 ITR 663 (AP); CIT v. Electrochem Orissa Ltd. [1995] 211 ITR 552 (Orissa) and CIT v. Maharashtra Electrosmelt Ltd. [1995] 214 ITR 489 (Bom) are erroneous.” Thus, the Apex court very clearly confirmed that the interest earned by an assessee on the investment of share capital in call deposits before the commencement of its production could be assessed separately under the head “Other sources”. Further, the r…

CIT v. Electrochem Orissa Ltd. (211 ITR 552) — Cited in 7 Judgments | BharatTax