CIT v. Gautam Motors

51 DTR 98High Court#10068 most cited
11

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2023.

Issues it is cited on

section 33acsection 115vsection 9(l)(vii)ready for usesection 36(l)(iii)section 9(l)section 10(2)interest on interestinterest free advancessection 33section 90(2)section 9(1)(vii)

Judgments citing CIT v. Gautam Motors

JAGSON INTERNATIONAL LTD. ,DELHI vs. DCIT CIRCLE-13(1), DELHI

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 902/DEL/2022[2017-18]Status: DisposedITAT Delhi04 Aug 2023AY 2017-18

Bench: Shri Saktijit Dey & Shri M. Balaganeshassessment Year: 2017-18 Jagson International Ltd., Vs Dcit, H-35, 1St Floor, Circle-13(1), Jangpura Extension, Delhi. New Delhi – 110 014. Pan: Aaacj2147A Assessment Year: 2017-18 Dcit, Vs. Jagson International Ltd., H-35, 1St Floor, Circle-13(1), Delhi Jangpura Extension, New Delhi – 110 014. Pan: Aaacj2147A (Appellant) (Respondent) Assessee By : Shri Rajiv Saxena, Ms Sumangla Saxena & Shri Shyam Sunder, Advocates Revenue By : Mohd. Gayasuddin Ansari, Cit, Dr Date Of Hearing : 08.05.2023 Date Of Pronouncement : 04.08.2023

For Appellant: Shri Rajiv SaxenaFor Respondent: Mohd. Gayasuddin Ansari, CIT, DR
Section 115JSection 115VSection 143(3)Section 407

…ncerns or related parties, then no disallowance can be made u/s 36(1)(iii) of the Income Tax Act in respect of interest on loans and borrowed funds utilized for the purpose of business: - CIT vs. Gautam Motors 45 DTR 89 (Del) - CIT vs. Bharti Televenture Ltd. 51 DTR 98 (Del.) - CIT vs. Dalmia Cement (Bharti) Ltd. 29 DTR 138 (Del) - CIT vs. Reliance Utilities & Power Ltd 313 ITR 340 (Bom) - Satish Katta vs. Asstt. CIT 13 DTR 237 (JP 'A'). - Madhu Industries Ltd. vs. ITO 43 DTR 23 (Ahd D) 23. In the case of Hero Cycles Pvt. Ltd. ( Civil Appeal No. 514 / 2008 dated 5.11.2015) the Supreme Court has held that, so long…

JCIT CIRCLE-13(1), NEW DELHI vs. JAGSON INTERNATIONAL LTD., NEW DELHI

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 1303/DEL/2022[2017-18]Status: DisposedITAT Delhi04 Aug 2023AY 2017-18

Bench: Shri Saktijit Dey & Shri M. Balaganeshassessment Year: 2017-18 Jagson International Ltd., Vs Dcit, H-35, 1St Floor, Circle-13(1), Jangpura Extension, Delhi. New Delhi – 110 014. Pan: Aaacj2147A Assessment Year: 2017-18 Dcit, Vs. Jagson International Ltd., H-35, 1St Floor, Circle-13(1), Delhi Jangpura Extension, New Delhi – 110 014. Pan: Aaacj2147A (Appellant) (Respondent) Assessee By : Shri Rajiv Saxena, Ms Sumangla Saxena & Shri Shyam Sunder, Advocates Revenue By : Mohd. Gayasuddin Ansari, Cit, Dr Date Of Hearing : 08.05.2023 Date Of Pronouncement : 04.08.2023

For Appellant: Shri Rajiv SaxenaFor Respondent: Mohd. Gayasuddin Ansari, CIT, DR
Section 115JSection 115VSection 143(3)Section 407

…ncerns or related parties, then no disallowance can be made u/s 36(1)(iii) of the Income Tax Act in respect of interest on loans and borrowed funds utilized for the purpose of business: - CIT vs. Gautam Motors 45 DTR 89 (Del) - CIT vs. Bharti Televenture Ltd. 51 DTR 98 (Del.) - CIT vs. Dalmia Cement (Bharti) Ltd. 29 DTR 138 (Del) - CIT vs. Reliance Utilities & Power Ltd 313 ITR 340 (Bom) - Satish Katta vs. Asstt. CIT 13 DTR 237 (JP 'A'). - Madhu Industries Ltd. vs. ITO 43 DTR 23 (Ahd D) 23. In the case of Hero Cycles Pvt. Ltd. ( Civil Appeal No. 514 / 2008 dated 5.11.2015) the Supreme Court has held that, so long…

DCIT, CIRCLE- 13(1), NEW DELHI vs. JAGSON INTERNATIONAL LTD., NEW DELHI

ITA 5375/DEL/2019[2016-17]Status: DisposedITAT Delhi25 Nov 2022AY 2016-17

Bench: Sh. C. N. Prasaddr. B. R. R. Kumar

For Appellant: Sh. Rajiv Saxena, Adv. &For Respondent: Sh. Rajesh Kumar, CIT DR
Section 115JSection 115VSection 143(3)Section 14ASection 36Section 40

…n be made u/s 36(1)(iii) of the Income Tax Act 25 CO No. 83/Del/2022 Jagson International Ltd. in respect of interest on loans and borrowed funds utilized for the purpose of business:  CIT vs. Gautam Motors 45 DTR 89 (Del)  CIT vs. Bharti Televenture Ltd. 51 DTR 98 (Del.)  CIT vs. Dalmia Cement (Bharti) Ltd. 29 DTR 138 (Del)  CIT vs. Reliance Utilities & Power Ltd. 313 ITR 340 (Bom)  Satish Katta vs. Asstt. CIT 13 DTR 237 (JP 'A')  Madhu Industries Ltd. vs. ITO 43 DTR 23 (Ahd D) 23. In the case of Hero Cycles Pvt. Ltd. ( Civil Appeal No. 514 / 2008 dated 5.11.2015) the Supreme Court has held that, so lon…

DCIT, CIRCLE- 13(1), NEW DELHI vs. JAGSON INTERNATIONAL LTD., NEW DELHI

ITA 6872/DEL/2018[2015-16]Status: DisposedITAT Delhi25 Nov 2022AY 2015-16

Bench: Sh. C. N. Prasaddr. B. R. R. Kumar

For Appellant: Sh. Rajiv Saxena, Adv. &For Respondent: Sh. Rajesh Kumar, CIT DR
Section 115JSection 115VSection 143(3)Section 14ASection 36Section 40

…n be made u/s 36(1)(iii) of the Income Tax Act 25 CO No. 83/Del/2022 Jagson International Ltd. in respect of interest on loans and borrowed funds utilized for the purpose of business:  CIT vs. Gautam Motors 45 DTR 89 (Del)  CIT vs. Bharti Televenture Ltd. 51 DTR 98 (Del.)  CIT vs. Dalmia Cement (Bharti) Ltd. 29 DTR 138 (Del)  CIT vs. Reliance Utilities & Power Ltd. 313 ITR 340 (Bom)  Satish Katta vs. Asstt. CIT 13 DTR 237 (JP 'A')  Madhu Industries Ltd. vs. ITO 43 DTR 23 (Ahd D) 23. In the case of Hero Cycles Pvt. Ltd. ( Civil Appeal No. 514 / 2008 dated 5.11.2015) the Supreme Court has held that, so lon…

DCIT, NEW DELHI vs. M/S. JAGSON INTERNATIONAL LTD., NEW DELHI

In the result, ITA.No.276/Del

ITA 276/DEL/2017[2014-15]Status: DisposedITAT Delhi31 Jan 2022AY 2014-15

Bench: Shri R.K. Panda & Shri Narendra Kumar Choudhary

For Appellant: Shri Rahul PrabhakarFor Respondent: Shri P.C. Maurya, CIT
Section 115JSection 14A

…rns or related parties, then no disallowance can be made u/s 36(l)(iii) of the Income Tax Act in respect of interest on loans and borrowed funds utilized for the purpose of business: 1. CIT vs. Gautam Motors 45 DTR 89 (Del) 2. CIT vs. Bharti Televenture Ltd. 51 DTR 98 (Del.) 3. CIT vs. Dalmia Cement (Bharti) Ltd. 29 DTR 138 (Del) 4. CIT vs. Reliance Utilities & Power Ltd. 313 ITR 340 (Bom) 5. Satish Katta vs. Asstt. CIT 13 DTR 237 (Jp 'A') 6. Madhu Industries Ltd. vs. ITO 43 DTR 23 (Ahd D') 13 ITA.Nos.1001 & 1002/Del./2016 And ITA.No.276/Del./2017 M/s. Jagson International Ltd., New Delhi. 3.2.4. In a recent de…

DCIT, NEW DELHI vs. M/S. JAGSON INTERNATIONAL LTD., NEW DELHI

In the result, ITA.No.276/Del

ITA 1002/DEL/2016[2013-14]Status: DisposedITAT Delhi31 Jan 2022AY 2013-14

Bench: Shri R.K. Panda & Shri Narendra Kumar Choudhary

For Appellant: Shri Rahul PrabhakarFor Respondent: Shri P.C. Maurya, CIT
Section 115JSection 14A

…rns or related parties, then no disallowance can be made u/s 36(l)(iii) of the Income Tax Act in respect of interest on loans and borrowed funds utilized for the purpose of business: 1. CIT vs. Gautam Motors 45 DTR 89 (Del) 2. CIT vs. Bharti Televenture Ltd. 51 DTR 98 (Del.) 3. CIT vs. Dalmia Cement (Bharti) Ltd. 29 DTR 138 (Del) 4. CIT vs. Reliance Utilities & Power Ltd. 313 ITR 340 (Bom) 5. Satish Katta vs. Asstt. CIT 13 DTR 237 (Jp 'A') 6. Madhu Industries Ltd. vs. ITO 43 DTR 23 (Ahd D') 13 ITA.Nos.1001 & 1002/Del./2016 And ITA.No.276/Del./2017 M/s. Jagson International Ltd., New Delhi. 3.2.4. In a recent de…

DCIT, NEW DELHI vs. M/S. JAGSON INTERNATIONAL LTD., NEW DELHI

In the result, ITA.No.276/Del

ITA 1001/DEL/2016[2012-13]Status: DisposedITAT Delhi31 Jan 2022AY 2012-13

Bench: Shri R.K. Panda & Shri Narendra Kumar Choudhary

For Appellant: Shri Rahul PrabhakarFor Respondent: Shri P.C. Maurya, CIT
Section 115JSection 14A

…rns or related parties, then no disallowance can be made u/s 36(l)(iii) of the Income Tax Act in respect of interest on loans and borrowed funds utilized for the purpose of business: 1. CIT vs. Gautam Motors 45 DTR 89 (Del) 2. CIT vs. Bharti Televenture Ltd. 51 DTR 98 (Del.) 3. CIT vs. Dalmia Cement (Bharti) Ltd. 29 DTR 138 (Del) 4. CIT vs. Reliance Utilities & Power Ltd. 313 ITR 340 (Bom) 5. Satish Katta vs. Asstt. CIT 13 DTR 237 (Jp 'A') 6. Madhu Industries Ltd. vs. ITO 43 DTR 23 (Ahd D') 13 ITA.Nos.1001 & 1002/Del./2016 And ITA.No.276/Del./2017 M/s. Jagson International Ltd., New Delhi. 3.2.4. In a recent de…

M/S. DHARAMPAL SATYAPAL LTD.,DELHI vs. ACIT, NEW DELHI

ITA 1380/DEL/2017[2012-13]Status: DisposedITAT Delhi07 Oct 2020AY 2012-13

Bench: Shri Amit Shukla & Sh. Prashant Maharishi(Through Video Conferencing) Assessment Year: 2012-13 M/S. Dharampal Satyapal Ltd. Acit, 1711, S. P. Mukherjee Marg, Vs Central Circle – 29, Delhi-110006 New Delhi Pan No. Aaacd0132H (Appellant) (Respondent) Appellant By Sh. R. S. Singhavi, Ca Sh. Satyajeet Goel, Ca Respondent By Sh. Sanjay I. Bara, Cit Dr Date Of Hearing: 28/08/2020 Date Of Pronouncement: 07/10/2020 Order

Section 115JSection 143Section 144CSection 14ASection 14A(2)Section 36Section 43(5)(d)Section 80I

…n totality and it is not open to consider entries in bank account in a distorted and isolated manner. He further relied up on several judicial precedents as under : i. CIT v. Reliance Industries Ltd. [2019] 410 ITR 466 (SC) ii. CIT Vs. Bharti Televenture Ltd. 51 DTR 98 (Del.) iii. CIT Vs. Tin Box Co. 260 ITR 637 (Del.) iv. CIT v. Reliance Utilities & Power Ltd. [2009] 313 ITR 340 (Bom) 23. He submitted that in light of factual and legal position clarified above, there is no case of any disallowance of interest u/s 36(1)(iii) of Income Tax The Act, 1961. 24. Learned departmental representative vehemently supported…

DCIT, NEW DELHI vs. M/S DHARAMPAL SATYAPAL LTD.,, DELHI

ITA 3883/DEL/2016[2011-12]Status: DisposedITAT Delhi18 Apr 2019AY 2011-12

Bench: Shri H. S. Sidhu & Shri Prashant Maharishi

For Appellant: Shri R. S. Singhvi, CAFor Respondent: Shri Sanjay I Bara, CIT DR
Section 142Section 147Section 153Section 153ASection 201(1)Section 36Section 40Section 40A(3)

…n totality and it is not open to consider entries in bank account in a distorted and isolated manner. He further relied up on several judicial precedents as under : i. CIT v. Reliance Industries Ltd. [2019] 410 ITR 466 (SC) ii. CIT Vs. Bharti Televenture Ltd. 51 DTR 98 (Del.) iii. CIT Vs. Tin Box Co. 260 ITR 637 (Del.) Dharampal Satyapal Ltd Vs, DCIT ITA No. 3738, 3739/Del/2016 (A) & ITA No. 3882 & 3883/Del/2016(R) Assessment Year: 2010-11 & 2011-12 iv. CIT v. Reliance Utilities & Power Ltd. [2009] 313 ITR 340 (Bom) 23. He submitted that in light of factual and legal position clarified above, there is no case of…

ALLEN CAREER INSTITUTE,JAIPUR vs. JCIT, KOTA

In the result, the ground no

ITA 10/JPR/2013[2009-10]Status: DisposedITAT Jaipur27 Sept 2017AY 2009-10
For Appellant: Shri Mahendra Gargieya (Adv) &For Respondent: Shri R.A. Verma (Addl.CIT)
Section 143(3)Section 14ASection 234ASection 244A

…iod of greater than one year. 14. The assessee further relied on the decision of Bombay High Court in the case of CIT vs. Reliance Utilities and Power Ltd. 313 ITR 340 and the decision of Hon’ble Delhi High Court in the case of CIT V. Bharti Televenture Ltd. 51 DTR 98. The assessee has relied upon the decision of Coordinate Bench in case of ACIT vs. Sh. Ram Kishan Verma Prop. M/s Resonance, Kota stating that the facts of the said case are exactly identical to the facts of the assessee. 15. The ld. CIT(A) however did not accept the assessee’s contentions and confirmed the disallowance of interest with the follow…

MUKUL ROHATGI,NEW DELHI vs. JCIT, NEW DELHI

The appeal is allowed

ITA 998/DEL/2012[2008-09]Status: DisposedITAT Delhi14 Oct 2015AY 2008-09

Bench: Shri I.C. Sudhir & Shri Laxmi Prashad Sahu Assessment Year: 2008-09 Mukul Rohatgi, Vs. Jcit, 59- Sunder Nagar, Range-37, New Delhi. New Delhi. (Pan: Aacpr4789B) (Appellant) (Respondent) Appellant By: Shri P.C. Yadav, Adv. Respondent By: Shri P.Damkanunjna, Sr. Dr Date Of Hearing : 19 .08.2015 Date Of Pronouncement: 14:10.2015 Order Per I.C. Sudhir:The Assessee Has Questioned First Appellate Order Mainly On The Following Grounds (Revised) : 1. That The Order Of The Learned Cit(Appeals) Is Bad In Law & On Facts: 2. That The Learned Cit(Appeals) Has Erred In Confirming The Assessment Of The Income Of The Assessee At Rs.18.63,90,250 As Against The Returned Income Of Rs.18,54,95,430/-/ 3. That Under The Facts & Circumstances Of The Case & In Law, The Learned Cit(Appeals) Has Erred In Confirming The Disallowance Of Rs.1,18,675 Out Of The Interest Expenses Incurred On Borrowed Funds Pertaining To Higher Purchase Of Car.

For Appellant: Shri P.C. Yadav, AdvFor Respondent: Shri P.Damkanunjna, Sr. DR
Section 14A

…there was opening balance of the capital of the assessee at Rs.21,27,41,082 and during the year the assessee had advanced only Rs.8,89,40,627. The Learned AR cited following decisions in support of his above contention: i) CIT vs. Bharti Televenture Ltd. – 51 DTR 98 (Delhi); ii) Amway India Enterprise Vs. ITO – 331 ITR 502. 11. The Learned Senior DR on the other hand tried to justify the orders of the authorities below on the issue. He contended that assessee had not explained what was the necessity to take the loan for purchasing of the car when the assessee was having sufficient funds available. Thus, takin…