CIT v. Gujarat Narmada Valley Fertilizers Co. Ltd.

361 ITR 192High Court2014#3635 most cited

What is CIT v. Gujarat Narmada Valley Fertilizers Co. Ltd. authority for?

Disallowance of interest expenditure is unwarranted when the assessee has demonstrated sufficient interest-free funds available to cover advances given to third parties, and the Assessing Officer cannot prove otherwise.

33

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Gujarat Narmada Valley Fertilizers Co. Ltd. · section 36 · disallowance of interest · interest-free funds · borrowed funds · advances to third parties · nexus between funds and advances

Also reported as

221 Taxmann 47935 Taxmann.com 638

Sections most often in play

Section 22Section 23Section 40(a)(ia)Section 143(3)Section 234BSection 43CBSection 68Section 115BEE

Issues it is cited on

section 23(5)annual letting valueproject completion methodhouse property incomesection 43cpercentage completion methodjoint development agreementfresh tangible materialannual valueretracted statementdisallowance of interest expenditureicds

Judgments citing CIT v. Gujarat Narmada Valley Fertilizers Co. Ltd.

Surinder Kumar Prop., Rewari vs. ITO, Rewari

In the result, the ITA No

ITA 1612/DEL/2015[2009-10]Status: DisposedITAT Delhi05 Jul 2018AY 2009-10

Bench: Shri H.S. Sidhu & Shri N.K. Billaiya

For Appellant: NoneFor Respondent: Sh. K. Tewari, Sr. DR
Section 271(1)(c)Section 40A(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G”, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER I.T.A. Nos. 1611 & 1612/DEL/2015 AYRS. 2007-08 & 2009-10 SURINDER KUMAR, ITO, WARD-2, PROP. MOSAIC HOUSE VS. AAYAKAR BHAWAN, (INDIA) MODEL TOWN, C/O SH. ML GULATI, REWARI AVOCATE, GANJ BAZAR, REWARI-HARYANA (PAN: AIHPK9865G) (APPELLANT) (RESPONDENT) Assessee by : None Department by : Sh. K. Tewari, Sr. DR. ORDER PER H.S. SIDHU : JM The Assessee has filed these Appeals against the separate impugned Orders dated 23.1.2014 & 29.1.2015 respectively pertaining to AYrs…

Surinder Kumar Prop., Rewari vs. ITO, Rewari

In the result, the ITA No

ITA 1611/DEL/2015[2007-08]Status: DisposedITAT Delhi05 Jul 2018AY 2007-08

Bench: Shri H.S. Sidhu & Shri N.K. Billaiya

For Appellant: NoneFor Respondent: Sh. K. Tewari, Sr. DR
Section 271(1)(c)Section 40A(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G”, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER I.T.A. Nos. 1611 & 1612/DEL/2015 AYRS. 2007-08 & 2009-10 SURINDER KUMAR, ITO, WARD-2, PROP. MOSAIC HOUSE VS. AAYAKAR BHAWAN, (INDIA) MODEL TOWN, C/O SH. ML GULATI, REWARI AVOCATE, GANJ BAZAR, REWARI-HARYANA (PAN: AIHPK9865G) (APPELLANT) (RESPONDENT) Assessee by : None Department by : Sh. K. Tewari, Sr. DR. ORDER PER H.S. SIDHU : JM The Assessee has filed these Appeals against the separate impugned Orders dated 23.1.2014 & 29.1.2015 respectively pertaining to AYrs…

M/S. Matrix Comsec Pvt. Ltd., Baroda vs. The ACIT, Range-4, Baroda

In the result, ITA No.2907/Ahd/2013 is allowed

ITA 2907/AHD/2013[2010-11]Status: DisposedITAT Ahmedabad19 Apr 2018AY 2010-11

Bench: Him, But When It Was Pointed Out To The Learned Cit(A), He Disposed Of The Same, By A Subsequent Order Dated 3Rd October, 2013, Which Is Separately In Appeal Before Us. He Submits That, In View Of This Subsequent Development, Ground No.3 Is Not Required To Be Adjudicated In This Appeal. Learned Departmental Representative Does Not Oppose The Submissions So Made By The Learned Counsel. We, Therefore, Dismiss Ground No.3 As Infructuous.

Section 143(3)Section 35

…hibition charges. The character of payment, so far as the assessee is concerned, is simply of reimbursement of expenses. On materially similar facts, Hon’ble jurisdictional High Court, in the case of CIT Vs. Gujarat Narmada Valley Fertilizers Co. Ltd, [(2014) 361 ITR 192 (Guj)], has decided the issue in favour of the assessee, and observed, inter alia, as follows:- “2. It appears that the assessee claimed deduction under Section 40(a)(ia) of Rs. 6,93,372/- towards reimbursement of CHA charges paid to C & F agent and Rs. 76,00,509/- towards reimbursement of expenses towards consignment agents. The aforesaid expen…

M/S. Matrix Comsec Pvt. Ltd., Baroda vs. The ACIT, Range-4, Baroda

In the result, ITA No.2907/Ahd/2013 is allowed

ITA 2446/AHD/2013[2010-11]Status: DisposedITAT Ahmedabad19 Apr 2018AY 2010-11

Bench: Him, But When It Was Pointed Out To The Learned Cit(A), He Disposed Of The Same, By A Subsequent Order Dated 3Rd October, 2013, Which Is Separately In Appeal Before Us. He Submits That, In View Of This Subsequent Development, Ground No.3 Is Not Required To Be Adjudicated In This Appeal. Learned Departmental Representative Does Not Oppose The Submissions So Made By The Learned Counsel. We, Therefore, Dismiss Ground No.3 As Infructuous.

Section 143(3)Section 35

…hibition charges. The character of payment, so far as the assessee is concerned, is simply of reimbursement of expenses. On materially similar facts, Hon’ble jurisdictional High Court, in the case of CIT Vs. Gujarat Narmada Valley Fertilizers Co. Ltd, [(2014) 361 ITR 192 (Guj)], has decided the issue in favour of the assessee, and observed, inter alia, as follows:- “2. It appears that the assessee claimed deduction under Section 40(a)(ia) of Rs. 6,93,372/- towards reimbursement of CHA charges paid to C & F agent and Rs. 76,00,509/- towards reimbursement of expenses towards consignment agents. The aforesaid expen…

Major Brands (India) Pvt. Ltd., Mumbai vs. Addl.CIT -5(2), Mumbai

In the result, the appeal filed by the assessee (Ground No

ITA 2153/MUM/2016[2011-12]Status: DisposedITAT Mumbai27 Feb 2018AY 2011-12

Bench: Shri C. N. Prasad, Jm &Dr. A.L.Saini, Am आयकरअपीऱसं./Ita No.2153/M/2016 (निर्धारणवषा / Assessment Year: 2011-12) Major Brands (India) Pvt. Vs. Acit-5(2), Mumbai Ltd. 401,Skyline Icon, Andheri Kurla Aayakarbhavan,M.K. Road,Andheri(East), Mumbai- Road,Mumbai-400020. 400059. स्थायीऱेखासं./ जीआइआरसं./ Pan/Gir No. : Aaccm 4949 B (Appellant) .. (Respondent) Appellant By :Shri Paras S.Savla, Ar Respondent By :Shri V. Vidhyadhar, Dr सुनवाईकीतारीख/ Date Of Hearing : 21/02/2018 घोषणाकीतारीख/Date Of Pronouncement : 27/02/2018 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am:

For Appellant: Shri Paras S.Savla, ARFor Respondent: Shri V. Vidhyadhar, DR
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “G”, BENCH MUMBAI BEFORE SHRI C. N. PRASAD, JM &DR. A.L.SAINI, AM आयकरअपीऱसं./ITA No.2153/M/2016 (निर्धारणवषा / Assessment Year: 2011-12) Major Brands (India) Pvt. Vs. ACIT-5(2), Mumbai Ltd. 401,Skyline Icon, Andheri Kurla AayakarBhavan,M.K. Road,Andheri(East), Mumbai- Road,Mumbai-400020. 400059. स्थायीऱेखासं./ जीआइआरसं./ PAN/GIR No. : AACCM 4949 B (Appellant) .. (Respondent) Appellant by :Shri Paras S.Savla, AR Respondent by :Shri V. Vidhyadhar, DR सुनवाईकीतारीख/ Date of Hearing : 21/02/2018 घोषणाकीतारीख/Date of Pronouncement : 27/02/2018 आदेश / O R D E R Per Dr. Arjun Lal S…

Saryu Properties and Hotels P.Ltd, Mumbai vs. DCIT CC 4(2), Mumbai

ITA 5675/MUM/2016[2012-13]Status: DisposedITAT Mumbai12 Jan 2018AY 2012-13

Bench: Shri Shamim Yahya, Am & Shri Sandeep Gosain, Jm आयकरअपीलसं./I.T.A. No. 5675 & 5676/Mum/2016 (निर्धारणवर्ा / Assessment Year: 2012-13&2013-14)

For Appellant: Sh. Sunil Kumar Ramani /VinayFor Respondent: Sh. M. V. Rajguru
Section 14Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “L” BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA, AM & SHRI SANDEEP GOSAIN, JM आयकरअपीलसं./I.T.A. No. 5675 & 5676/Mum/2016 (निर्धारणवर्ा / Assessment Year: 2012-13&2013-14) M/s Saryu Properties & Hotels Pvt. DCIT Central Circle-4(2), 19th floor, Air India Bldg, Ltd. बिधम/ Plot No. 25, B-wing, 1st floor, Girnar, Nariman Point, Mumbai-20 Vs. Pali Mala Road, Pali Hill, Bandra(W), Mumbai-400 050. स्थायीलेखासं./जीआइआरसं./ PAN/GIR No. AAACS6983M (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant by : Sh. Sunil Kumar Ramani /Vinay Sinha प्रत्यथीकीओरसे/Respondentby : S…

Shri Yogendra Khandelwal, Jaipur vs. ACIT, Jaipur

In the result, ground no. 4

ITA 906/JPR/2012[2009-10]Status: DisposedITAT Jaipur11 Jan 2018AY 2009-10
For Appellant: Shri Rajeev SoganiFor Respondent: Shri R. A. Verma (Addl. CIT)
Section 40ASection 40A(2)(b)Section 80E

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh fot; ikWy jko] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA. No. 906/JP/2012 fu/kZkj.k o"kZ@Assessment Years : 2009-10 Shri Yogendra Khandelwal cuke Asstt. Commissioner of Vs. Prop. M/s Steel Syndicate of Income Tax, Circle-3, 1st India, Floor, Somani Jaipur Building, S.C. Link Road, Loha Mandi, Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ADCPK0822B vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA. No. 88…

Saryu Properties and Hotels P.Ltd, Mumbai vs. DCIT CC 4(2), Mumbai

In the result this appeal by the assessee stands dismissed

ITA 5674/MUM/2016[2011-12]Status: DisposedITAT Mumbai04 Jan 2018AY 2011-12

Bench: Shri Shamim Yahya, Am & Shri Sandeep Gosain, Jm आयकर अपील सं./I.T.A. No.5674/Mum/2016 ("नधा"रण वष" / Assessment Year: 2011-12) M/S. Saryu Properties & Hotels Pvt. Dcit-Cc 4(2), 19Th Floor, Air India Building, Ltd. बनाम/ Plot No. 25, Girnar, ‘B’Wing, Nariman Point, Mumbai-400 021 Vs. 1St Floor, Pali Mala Road, Pali Hill, Bandra (W), Mumbai-400 050 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaacs 6983 M (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri Sunil K. Ramaro & Shri Vinay Sinha ""यथ" क" ओर से/Respondent By : Shri M. V. Rajguru सुनवाई क" तार"ख / : 02.11.2017 Date Of Hearing घोषणा क" तार"ख / : 04.01.2018 Date Of Pronouncement आदेश / O R D E R Per Shamim Yahya, A. M.: This Appeal By The Assessee Is Directed Against Order Of The Ld. Commissioner Of Income Tax (Appeals)-52, Mumbai Dated 30.06.2016 & Pertains To Assessment Year 2011-12. 2. The Grounds Of Appeal Read As Under: 1. The Learned Cit (A) Erred In Not Admitting The Additional Grounds Relating To Disallowance U/S I4-A Holding That The Said Disallowance Was In The Original

For Appellant: Shri Sunil K. Ramaro &For Respondent: Shri M. V. Rajguru
Section 14Section 143(3)Section 14A

…आयकर अपील"य अ"धकरण “एल” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “L” BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA, AM AND SHRI SANDEEP GOSAIN, JM आयकर अपील सं./I.T.A. No.5674/Mum/2016 ("नधा"रण वष" / Assessment Year: 2011-12) M/s. Saryu Properties and Hotels Pvt. DCIT-CC 4(2), 19th Floor, Air India Building, Ltd. बनाम/ Plot No. 25, Girnar, ‘B’Wing, Nariman Point, Mumbai-400 021 Vs. 1st Floor, Pali Mala Road, Pali Hill, Bandra (W), Mumbai-400 050 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. AAACS 6983 M (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant by : Shri Sunil K. Ramaro & Shri Vinay…

Shri Alpesh Dahyabhai Patel, Ahmedabad vs. The Dy.CIT, Circle-6, Ahmedabad

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

ITA 1776/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad16 Nov 2017AY 2011-12

Bench: Shri Mahavir Prasad & Shri Amarjit Singh)

For Respondent: Shri V. K. Singh, Sr. D.R

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘डी’ अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “ D ” BENCH, AHMEDABAD loZJh egkohj izlkn] U;kf;d lnL; ,oa vejthr flag] ys[kk lnL; ds le{kA loZJh egkohj izlkn] U;kf;d lnL; ,oa vejthr flag] ys[kk lnL; ds le{kA loZJh egkohj izlkn] U;kf;d lnL; ,oa vejthr flag] ys[kk loZJh egkohj izlkn] U;kf;d lnL; ,oa vejthr flag] ys[kk lnL; ds le{kA lnL; ds le{kA (BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER) आयकर अपील सं./I.T.A. No.1776/Ahd/2015 ("नधा"रण वष" / Assessment Year : 2011-12) Shri Alpesh Dahyabhai Patel DCIT, बनाम/ B-404, Suryadeep Tower,…

Kgk Diamonds (I) Ltd., Mumbai vs. DCIT, Jaipur

In the result, the disallowance under section 14A is hereby deleted

ITA 868/JPR/2016[2010-11]Status: DisposedITAT Jaipur31 Oct 2017AY 2010-11
For Appellant: Shri S.R. Sharma (C.A.)&For Respondent: Shri Varinder Mehta (CIT)
Section 143(3)Section 14ASection 153A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh dqy Hkkjr] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI KUL BHARAT, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 868/JP/16 fu/kZkj.k o"kZ@Assessment Year : 2010-11 cuke M/s KGK Diamonds (I) Pvt. Ltd., The Dy. Commissioner of DE-4011-16, Tower D, 4th Floor, Vs. Income-tax, Central Bharat Diamond bourse, Bandra Kurla Circle-2, Jaipur. Complex, Bandra (East), Mumbai- 400051, Maharashtra. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AADCK7579A vihykFkhZ@Appellant izR;FkhZ@Responden…

Hero Motocorp Limited, New Delhi vs. JCIT, New Delhi

In the result appeal of the assessee in ITA No

ITA 1545/DEL/2015[2010-11]Status: DisposedITAT Delhi24 Oct 2016AY 2010-11

Bench: Sh. I. C. Sudhir & Shri Prashant Maharishihero Motocorp Limited, Jcit, 34, Basant Lok, Vasant Range-1, New Delhi Vs. Vihar, New Delhi Pan: Aaach0812J (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community Vs. New Delhi Centre, Basant Lok, Vasant Vihar, New Delhi-110057 (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. NC Sawain, CIT DR
Section 143Section 143(3)Section 144CSection 92C

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ―I-2‖: NEW DELHI BEFORE SH. I. C. SUDHIR, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER Hero MotoCorp Limited, JCIT, 34, Basant Lok, Vasant Range-1, New Delhi Vs. Vihar, New Delhi PAN: AAACH0812J (Appellant) (Respondent) DCIT, M/s. Hero Moto Corp. Circle-11(1), Ltd., 34, Community Vs. New Delhi Centre, Basant Lok, Vasant Vihar, New Delhi-110057 (Appellant) (Respondent) DCIT, M/s. Hero Moto Corp. Circle-11(1), Ltd., 34, Community Page 2 of 484 New Delhi Vs. Centre, Basant Lok, Vasant Vihar, New Delhi-110057 (Appellant) (Respondent) M/s. Hero Moto Corp. D…

M/S. Future Distributors, Kolkata vs. Pr.CIT, Kolkata - 9, Kolkata

In the result, the appeal of the assessee is allowed

ITA 277/KOL/2016[2010-2011]Status: DisposedITAT Kolkata29 Jul 2016AY 2010-2011

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

Section 131Section 133ASection 143(3)Section 145(3)Section 263Section 40

…I.T.A. No. 277/KOL./2016 Assessment year: 2010-2011 Page 1 of 38 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘A’ BENCH, KOLKATA Before Shri P.M. Jagtap, Accountant Member and Shri S.S. Viswanethra Ravi, Judicial Member I.T.A. No. 277/KOL/ 2016 Assessment Year: 2010-2011 M/s. Future Distributors,......................................................Appellant P-46, Hide Road Extension, Brace Bridge, Taratala, Kolkata-700 088 [PAN: AACFF 0828 R] -Vs.- Principal Commissioner of Income Tax-9,............................Respondent Kolkata, Aayakar Bhawan Dakshin, Gariahat Road, Kolkata Appearances by: Shri Sachc…

Renu M. Tilwani, Mumbai vs. ACIT 19(3), Mumbai

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

ITA 1969/MUM/2011[2006-07]Status: DisposedITAT Mumbai28 Oct 2015AY 2006-07

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm आमकय अऩीर सं./Ita No.1969/Mum/2011 (नििाारण वषा / Assessment Year :2006-2007) Mrs. Renu M. Tilwani, 21, Veena Vs. Acit 19(3), Mumbai- Beena, Gr. Floor, Opp Bandra 400013 Railway Station, Bandra (W), Mumbai-400050 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. : Aadpt 6152 H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. ननधाारयती की ओर से /Assessee By : Shri M.Subramanian याजस्व की ओर से /Revenue By : Shri Shrikant Namdeo सुनवाई की तायीख / Date Of Hearing : 20/10/2015 घोषणा की तायीख/Date Of Pronouncement 28/10/2015 आदेश / O R D E R Per R.C.Sharma (A.M): This Is An Appeal Filed By The Assessee Against The Order Of Cit(A), Mumbai, Dated 22-12-2010, For The Assessment Year 2006-2007. 2. Rival Contentions Have Been Heard & Record Perused. Facts In Brief Are That Assessee Is Engaged In The Business Of Export & Import. The Return Of The Assessment Year 2006-07 Was Filed On 31-10-2006, Declaring Income At Rs.38,11,051/-. The Case Was Selected For Scrutiny. The Ao Had Accordingly Completed The Assessment By Making Following Additions :- I) Clearing Charges : Rs.10,41,693/- Ii) Freight Charges : Rs. 6,76,606/- Iii) Salary Payments : Rs. 3,00,000/- Iv) Interest Expenses: Rs. 5,77,389/-

For Appellant: Shri M.SubramanianFor Respondent: Shri Shrikant Namdeo
Section 40

…by the agent of the assessee and the assessee has just reimbursed the same, therefore, not required to deduct tax. For this purpose, reliance was placed on the decision of Hon’ble Gujarat High Court in the case of Gujarat Narmada Valley Fertilizers Co. Ltd., 361 ITR 192 (Guj.), wherein it was held that expenses incurred by the agent on behalf of the assessee for transportation and other charges, which had been spelt out in the bill itself 3 including the commission to the agent, the obligation to deduct tax at sources from the payment of transport charges and other charges was complied by the agent, held that a…