CIT v. G.K.K. Capital Markets Pvt. Ltd.

78 Taxmann.com 341High Court2017#18274 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2017 to 2018.

Judgments citing CIT v. G.K.K. Capital Markets Pvt. Ltd.

ACIT - 19(3), Mumbai vs. Safe Enterprises, Mumbai

In the result, the appeal filed by the Revenue and the assessee are partly allowed

ITA 2700/MUM/2016[2012-13]Status: DisposedITAT Mumbai26 Feb 2018AY 2012-13

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2012-13 Asst. Commissioner Of M/S Safe Enterprises Income Tax-19(3), Vs. 19, B, Manek, 11, L.D. Room No. 206, 2Nd Floor, Ruparel Marg, Napean Matru Mandir, Tardeo, Sea Road, Mumbai-400007 Mumbai-400006 Pan No. Abhfs4029H Appellant Respondent Assessment Year: 2012-13 Safe Enterprise Asst. Commissioner Of C/O. Kalyaniwalla& Mistry, Vs. Income Tax-19(3), Army & Navy Building, 3Rd Room No. 206, 2Nd Floor, 148, M.G. Road, Fort, Floor, Matru Mandir, Mumbai-400001 Tardeo, Mumbai-400007 Pan No. Abhfs4029H Appellant Respondent

For Appellant: Mr. M.M. Golvala, ARFor Respondent: Mr. Ram Tiwari, DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I” MUMBAI BEFORE SHRI MAHAVIR SINGH (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2012-13 Asst. Commissioner of M/s Safe Enterprises Income Tax-19(3), Vs. 19, B, Manek, 11, L.D. Room No. 206, 2nd floor, Ruparel Marg, Napean Matru Mandir, Tardeo, Sea Road, Mumbai-400007 Mumbai-400006 PAN No. ABHFS4029H Appellant Respondent Assessment Year: 2012-13 Safe Enterprise Asst. Commissioner of C/o. Kalyaniwalla& Mistry, Vs. Income Tax-19(3), Army & Navy Building, 3rd Room No. 206, 2nd floor, 148, M.G. Road, Fort, floor, Matru Mandir, Mumbai…

DCIT Cir 2(2)(1), Mumbai vs. Infina Finance P.Ltd, Mumbai

Appeal stands dismissed

ITA 3329/MUM/2016[2012-13]Status: DisposedITAT Mumbai17 Jan 2018AY 2012-13

Bench: Shri C.N. Prasad, Jm & Shri Manoj Kumar Aggarwal, Am

For Appellant: NoneFor Respondent: Saurabh Deshpande, Ld. DR
Section 143(3)Section 14A

…370] (ii) CCI Ltd. Vs. JCIT [Hon’ble Karnataka High Court 2012 20 Taxmann.com 196] (iii) PCIT Vs. State Bank of Patiala [Hon’ble Punjab & Haryana High Court 2017 78 Taxmann.com 3] (iv) CIT Vs. G.K.K. Capital Markets (P.) Ltd. [Hon’ble Calcutta High Court 2017 78 Taxmann.com 341] Respectfully following the ratio of above decisions, we conclude that investments held as stock- in-trade do no attract disallowance u/s 14A. 5 Infina Finance Private Limited Assessment Year 2012-13 7. Further, Ld. CIT(A) has noted that the assessee has made strategic investment in certain business entities. The stated fact has not been…

Rajendra Kumar Bachhawat, Kolkata vs. ACIT, Cir-33, Kolkata

In the result, both the appeals of assessee are partly allowed

ITA 58/KOL/2016[2011-2012]Status: DisposedITAT Kolkata29 Nov 2017AY 2011-2012

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 10(34)Section 14A

…Rajendra Kr. Bachhawat, AYs 2010-11&2011-12 आयकर अपील"य अधीकरण, "यायपीठ – “D” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH: KOLKATA (सम")Before "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/and "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, AM & Shri A. T. Varkey, JM] I.T.A. Nos. 57 & 58/Kol/2016 Assessment Years: 2010-11 & 2011-12 Rajendra Kumar Bachhawat Vs. Assistant Commissioner of Income- (PAN: AEEPB8725R) tax, Circle-33, Kolkata. Appellant Respondent Date of Hearing 26.09.2017 Date of Pronouncement 29.11.2017 For the Appellant S/Shri Anil Kochar & S.L.Kochar, Advocates For the Respondent S…

Rajendra Kumar Bachhawat, Kolkata vs. ACIT, Cir-33, Kolkata

In the result, both the appeals of assessee are partly allowed

ITA 57/KOL/2016[2010-2011]Status: DisposedITAT Kolkata29 Nov 2017AY 2010-2011

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 10(34)Section 14A

…Rajendra Kr. Bachhawat, AYs 2010-11&2011-12 आयकर अपील"य अधीकरण, "यायपीठ – “D” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH: KOLKATA (सम")Before "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/and "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, AM & Shri A. T. Varkey, JM] I.T.A. Nos. 57 & 58/Kol/2016 Assessment Years: 2010-11 & 2011-12 Rajendra Kumar Bachhawat Vs. Assistant Commissioner of Income- (PAN: AEEPB8725R) tax, Circle-33, Kolkata. Appellant Respondent Date of Hearing 26.09.2017 Date of Pronouncement 29.11.2017 For the Appellant S/Shri Anil Kochar & S.L.Kochar, Advocates For the Respondent S…

Asstt CIT 19(3), Mumbai vs. Safe Enterprises, Mumbai

Appeal stands dismissed whereas cross objections filed by assessee stands partly allowed

ITA 4492/MUM/2015[2011-12]Status: DisposedITAT Mumbai04 Oct 2017AY 2011-12

Bench: Shri Mahavir Singh, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. No. 4492/Mum/2015 (िनधा"रण वष" / Assessment Year: 2011-12) Assistant Commissioner Of Safe Enterprises बनाम/ Income Tax 19(3) 198, Manek Matru Mandir 11, L.D.Ruparel Marg Vs. Tardeo Road,Mumbai – 400 007 Mumbai-400 006 (अपीलाथ" /Appellant) (""थ" / Respondent) : & Cross Objection No.21/Mum/2017 (िनधा"रण वष" / Assessment Year: 2011-12) Safe Enterprises Assistant Commissioner Of बनाम/ 198, Manek Income Tax 19(3) 11,L.D.Ruparel Marg Matru Mandir,Tardeo Road Vs. Mumbai-400 006 Mumbai – 400 007 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Abhfs-4029-H (अपीलाथ" /Appellant) (""थ" / Respondent) :

For Appellant: M.M.Golvale & HormuzolFor Respondent: V. Justin, Ld.DR
Section 143(3)Section 14A

…370] (ii) CCI Ltd. Vs. JCIT [Hon’ble Karnataka High Court 2012 20 Taxmann.com 196] (iii) PCIT Vs. State Bank of Patiala [Hon’ble Punjab & Haryana High Court 2017 78 Taxmann.com 3] (iv) CIT Vs. G.K.K. Capital Markets (P.) Ltd. [Hon’ble Calcutta High Court 2017 78 Taxmann.com 341] Respectfully following the above, we conclude that shares held as stock- in-trade do no attract disallowance u/s 14A. 8. Now coming to quantum of disallowance u/s 14A against investments made by the assessee, we are of the considered opinion that no disallowance is warranted for u/r 8D(2)(i) since majority of the Assessment Year 2011-12…

CIT v. G.K.K. Capital Markets Pvt. Ltd. (78 Taxmann.com 341) — Cited in 5 Judgments | BharatTax