CIT v. Emirates Commercial

265 ITR 55Reported decision#20211 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 341,001 Indian tax judgments — from 2024 to 2024.

Sections most often in play

Section 10(10C)Section 10(15)(iv)Section 10(34)Section 14ASection 35DDASection 36(1)(iv)Section 37Section 44C

Issues it is cited on

section 10(10c)section 35ddasection 35ddapproved gratuity fundsection 44csection 10(15)section 35dretrospective amendmentsection 36(1)(iv)right to receivesection 192section 10(34)

Judgments citing CIT v. Emirates Commercial

DCIT 2(2)(2), Mumbai vs. The Hongkong and Shanghai Banking Corp Ltd, Mumbai

In the result, assessee’s appeals are allowed wherein

ITA 4786/MUM/2016[2005-06]Status: DisposedITAT Mumbai30 Apr 2024AY 2005-06

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

Section 10(15)(iv)Section 10(34)Section 143(3)Section 14A

…oid of legally sustainable reasons. As far as the question of the expenses incurred abroad being hit by the provisions of section 44C is concerned the law is not settled by the hon'ble Bombay High court in the case of CIT Vs Emirates Commercial bank limited ( 265 ITR 55) wherein Their lordship have held that 'the expenditure which is covered by Section 44C is of a common nature, which is incurred for various branches or which is incurred for the purpose of head office and the branch'. Their Lordship held that the expenditure incurred exclusively for the purposes of the branch cannot be covered under section 44C.…

The Hong Kong & Shanghai Banking Corporation Ltd., Mumbai vs. Jt. Director of Income Tax (International Taxation) - Range -3, Mumbai

In the result, assessee’s appeals are allowed wherein

ITA 4765/MUM/2016[2005-06]Status: DisposedITAT Mumbai30 Apr 2024AY 2005-06

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

Section 10(15)(iv)Section 10(34)Section 143(3)Section 14A

…oid of legally sustainable reasons. As far as the question of the expenses incurred abroad being hit by the provisions of section 44C is concerned the law is not settled by the hon'ble Bombay High court in the case of CIT Vs Emirates Commercial bank limited ( 265 ITR 55) wherein Their lordship have held that 'the expenditure which is covered by Section 44C is of a common nature, which is incurred for various branches or which is incurred for the purpose of head office and the branch'. Their Lordship held that the expenditure incurred exclusively for the purposes of the branch cannot be covered under section 44C.…

DDIT (It) 3(1), Mumbai vs. Hongkong & Sanghai Banking Corporation Ltd, Mumbai

In the result, assessee’s appeals are allowed wherein

ITA 7824/MUM/2010[2004-05]Status: DisposedITAT Mumbai30 Apr 2024AY 2004-05

Bench: IN THE INCOME TAX APPELLATE TRIBUNAL, ‘H’ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA (Judicial Member), SHRI GAGAN GOYAL, ACCOUNTANT MEMBER ITA No.7336/Mum/2010 (Assessment Year :2004-05) & ITA No.4765/Mum/2016 (Assessment Year :2005-06) The Hongkong & Shanghai Banking Corporation Ltd. Srnior Vice President Tax, India Area Management 5th Floor, Hongkong Bank Building, 52/60, MG Road Fort, Mumbai – 400 001 (Appellant) Vs. The Joint Director of Income Tax (International Taxation)-3, Mumbai 1st Flo

Section 10(15)(iv)Section 10(34)Section 143(3)Section 14A

…oid of legally sustainable reasons. As far as the question of the expenses incurred abroad being hit by the provisions of section 44C is concerned the law is not settled by the hon'ble Bombay High court in the case of CIT Vs Emirates Commercial bank limited ( 265 ITR 55) wherein Their lordship have held that 'the expenditure which is covered by Section 44C is of a common nature, which is incurred for various branches or which is incurred for the purpose of head office and the branch'. Their Lordship held that the expenditure incurred exclusively for the purposes of the branch cannot be covered under section 44C.…

The Hongkong & Shanghai Banking Corporation Ltd, Mumbai vs. DDIT (It) 3(1), Mumbai

In the result, assessee’s appeals are allowed wherein

ITA 7336/MUM/2010[2004-05]Status: DisposedITAT Mumbai30 Apr 2024AY 2004-05

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GAGAN GOYAL, ACCOUNTANT MEMBER & The Hongkong & Shanghai Banking Corporation Ltd. Srnior (Vice President)

Section 10(15)(iv)Section 10(34)Section 143(3)Section 14A

…oid of legally sustainable reasons. As far as the question of the expenses incurred abroad being hit by the provisions of section 44C is concerned the law is not settled by the hon'ble Bombay High court in the case of CIT Vs Emirates Commercial bank limited ( 265 ITR 55) wherein Their lordship have held that 'the expenditure which is covered by Section 44C is of a common nature, which is incurred for various branches or which is incurred for the purpose of head office and the branch'. Their Lordship held that the expenditure incurred exclusively for the purposes of the branch cannot be covered under section 44C.…

CIT v. Emirates Commercial (265 ITR 55) — Cited in 4 Judgments | BharatTax