How many judgments cite CIT v. Gujarat Power Corporation Ltd.?

80 judgments on BharatTax cite CIT v. Gujarat Power Corporation Ltd. (352 ITR 583), spanning 2015 to 2026.

CIT v. Gujarat Power Corporation Ltd.

Q: Which sections of the Income Tax Act does CIT v. Gujarat Power Corporation Ltd. come up under?

It is most often cited in judgments turning on Section 143(3), Section 1961 - Sections 14A, Section 1962 - Rule 8D, Section 22, Section 23, Section 23(1)(c).

352 ITR 583High Court2013#1429 most cited

What is CIT v. Gujarat Power Corporation Ltd. authority for?

Disallowance under Section 14A for interest expenditure is not justified if an assessee uses its own interest-free funds for investments generating exempt income, and borrowed funds are entirely utilized for business purposes, without evidence of diversion to earn tax-free income.

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 Power Corporation Ltd. · Section 14A · disallowance for exempt income · interest expenditure · borrowed funds not diverted · own funds for investment · Rule 8D · 352 ITR 583 · Gujarat High Court · tax-free dividend income · business funds

Sections most often in play

Section 143(3)Section 1961 - Sections 14A Section 1962 - Rule 8D Section 22 Section 23 Section 23(1)(c)Section 23(5)Section 80-IA(5)

Read the full judgment

Issues it is cited on

business transfer agreement opening wdv closely held company colourable device written down value rule of consistency intangible assets disallowance under section 14a disallowance u/s 14a appeal before cit(a)section 14a section 36

Judgments citing CIT v. Gujarat Power Corporation Ltd.

Shri Rajnibhai Shivlal Modi, Himatnagar vs. The Income Tax Officer, S.K.Ward-3, Himatnagar

In the result, the appeal of the assessee is allowed

ITA 866/AHD/2016[2009-10]Status: DisposedITAT Ahmedabad03 Jun 2021AY 2009-10

For Appellant: Shri Tushar Hemani, A.RFor Respondent: Shri L.P. Jain, Sr. D.R

Section 143(3)Section 147Section 148Section 234ASection 271(1)(c)

…were already considered by the Assessing Officer while finalizing original assessment u/s. 143(3) of the act. The ld. counsel has also placed reliance on the decision of CIT vs. Nirma Chemical Works Pvt. Ltd. 309 ITR 67 (Guj) & Gujarat Power Corporation Ltd. 350 ITR 266 (Guj). The ld. counsel has also submitted that assessee has also not made any payment to the sub-contractor in respect of such R.A. Bills amounting of Rs. 57,57,910/- and unpaid sub-contract bill of the same to the amount of Rs. 54,66,560/-. The revised return of income was filed voluntarily showing additional net I.T.A No. 866/Ahd/2016 A.Y. 200…

The DCIT, Circle-1, Ahmedabad vs. Aia Engineering Ltd., Ahmedabad

In the result, ITA Appeals 1766/Ahd/12, 2342/Ahd/15, 2343/Ahd/2015,

ITA 1766/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad04 Jan 2021AY 2008-09

For Appellant: Shri T.P. Hemani, Sr. A.R. &For Respondent: Shri Vinod Tanwani, Sr. D.R

Section 143(2)Section 143(3)

…ring Ltd. vs. DCIT fund for making investment. The ld. counsel has also placed reliance on the following decisions:- > CIT vs. Torrent Power Ltd. - 363 ITR 474 (Guj.) > CIT vs. Suzlon Energy Ltd. - 354 ITR 630 (Guj) > CIT vs. Gujarat Power Corporation Ltd. - 352 ITR 583 (Guj) > CIT vs. Hitachi Home & Life Solutions (I). Ltd. - (2014) 41 taxmann.com 540 (Guj) > CIT vs. Reliance Utilities & Power Ltd. - 313 ITR 340 (Bom) > Munjal Sales Corporation vs. CIT - 298 ITR 298 (SC) The ld. counsel also submitted that assessee was having substantial interest free funds than the investment. On the other hand, the ld. Depart…

Aia Engineering Ltd., Ahmedabad vs. The Dy.CIT., Circle-1, Ahmedabad

In the result, ITA Appeals 1766/Ahd/12, 2342/Ahd/15, 2343/Ahd/2015,

ITA 1757/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad04 Jan 2021AY 2008-09

For Appellant: Shri T.P. Hemani, Sr. A.R. &For Respondent: Shri Vinod Tanwani, Sr. D.R

Section 143(2)Section 143(3)

The Dy. CIT, Circle-1(2), Ahmedabad vs. M/S. Artex Apparels, Ahmedabad

Accordingly, the said ground of appeal is also allowed

ITA 1450/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad05 Mar 2020AY 2012-13

Bench: Shri Rajpal Yadav & Shri T. S. Kapoorआयकर अपील सं./I.T.A. No. 1450/Ahd/2017 With Cross Objection No.24/Ahd/2019 ("नधा"रण वष" / Assessment Years : 2012-13)

For Appellant: Shri Parimal S. Parmar, A.RFor Respondent: Shri T. Shankar, Sr.D.R

Section 10ASection 234ASection 271(1)(c)Section 36(1)(va)Section 40A(2)(b)

…ssee. Reliance in this respect was placed on the following: > CIT vs. Reliance Industries Ltd. - 410 ITR 466 (SC); > CIT vs. Torrent Power Ltd. - 363 ITR 474 (Guj.); > CIT vs. Suzlon Energy Ltd. - 354 ITR 630 (Guj); > CIT vs. Gujarat Power Corporation Ltd. - 352 ITR 583 (Guj); > CIT vs. Reliance Utilities & Power Ltd. - 313 ITR 340 (Bom); ITA No. 1450/Ahd/17 with CO No.24/Ahd/19 [M/s. Artex Apparels] A.Y. 2012-13 - 7 - > Munjal Sales Corporation vs. CIT - 298 ITR 298 (SC); > CIT vs. Hitachi Home & Life Solutions (I). Ltd. - (2014) 41 taxmann.com 540 (Guj); 17. As regards disallowance of bad debts, it was submi…

The ACIT, (OSD)Circle-8, Ahmedabad vs. Torrent Power Ltd., Ahmedabad

In the result, the appeal of the Revenue and the Cross-objection of the assessee, both are dismissed

ITA 1668/AHD/2012[2006-07]Status: DisposedITAT Ahmedabad05 Mar 2020AY 2006-07

Bench: Shri Sandeep Gosain & Shri Amarjit Singh

For Appellant: Shri Vartik ChowkshiFor Respondent: Shri Samir Tekriwal, CIT-DR

Section 115JSection 14Section 143(3)Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘बी’, अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “ B ” BENCH, AHMEDABAD BEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER And SHRI AMARJIT SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. No.1668/Ahd/2012 ("नधा"रण वष" / Assessment Year : 2006-07) And CO No.178/Ahd/2012 – AY 2006-07 (in ITA No.1668/Ahd/2012 – AY 2006-07) The ACIT(OSD) M/s.Torrent Power Limited बनाम/ Circle-8, Torrent House Vs. Ahmedabad Nr.Dinesh Hall Off Ashram Road, Ahmedabad "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AACCT 0294 J (अपीलाथ" /Appellant) .. (""यथ"/Respondent & Cross Objector) Revenue by : Shri Sa…

Shri Ayush Muralilal Agarwal, Surat vs. The Income Tax Officer, Ward-1(3)(1), Surat

In the result, the appeal of the assessee is allowed

ITA 2622/AHD/2016[2009-10]Status: DisposedITAT Surat10 Dec 2019AY 2009-10

Bench: Shri Amarjit Singh & Shri O.P.Meenaआ.अ.सं./I.T.A No.2622/Ahd/2016 "नधा"रणवष"/Assessment Year: 2009-10 Shri Ayush Murarilal Agarwal, Vs. The Income Tax Officer, Brijvilla Bunglow, Brijwasi Estate, Ward-1(3)(1) Surat B/H Gokul Row House, Parley Point Surat 395 007 [Pan: Acypa 9649 K] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Shri Prakash Jhunjhunwala - Ca राज"वक"ओरसे /Revenue By Shri B. P. K. Panda, Sr. D.R.

Section 143Section 147Section 148Section 151Section 194CSection 40Section 44A

…l available with the Assessing Officer to form a belief that there was escapement of income chargeable to tax, hence, impugned re-opening notice was unjustified. Similarly Hon’ble Gujarat High Court in the case of Gujarat Power Corporation Ltd. v. ACIT [2013] 350 ITR 266 (Gujarat) held that reopening of assessment on same claims on the basis of material , amounts to change of opinion. 9. On the other hand, the ld. Sr. D.R. submitted that turnover was enhanced by the CIT (A) during appellate proceedings hence, the assessee was liable for audit under section 44AB of the Act. Since the books of accounts were auditab…

The Shipping Corporation of India Ltd., Mumbai vs. Addl.C.I.T. Ltu, Mumbai

In the result the appeal filed by the Revenue is dismissed

ITA 2551/MUM/2012[2006-07]Status: DisposedITAT Mumbai29 Nov 2019AY 2006-07

Bench: Shri Mahavir Singh & Shri Waseem Ahmedआयकर अपील सं./Ita Nos.2551&2129/Mum/2012 नििाारण वर्ा/Asstt. Year:2006-07 The Shipping Corporation Of Additional Commissioner India Ltd. Vs. Of Income Tax Ltu Shipping House, 10Th Floor, 245, 29Th Floor, World Trade Madam Cama Road, Nariman Centre, Colaba, Mumbai- Point, Mumbai-400021 400006 Pan: Aaa Ct1 524 F Assistant Commissioner Of The Shipping Corporation Income Tax Ltu Of India Ltd. Centre-I, 28Th Floor, World Trade Shipping House, 10Th Centre, Cuffe Parade, Mumbai- Floor, 245, Madam Cama 400005 Road, Nariman Point, Mumbai-400021 Pan: Aaa Ct1 524 F

For Respondent: Shri R. Manjunatha Swamy

Section 11Section 143(1)Section 143(2)Section 143(3)Section 147Section 234D

…of opinion of the issue which forms the basis of the reasons recorded for issuing the impugned notices.” 23. We also draw support and guidance from the judgment of Hon’ble Gujarat High Court in the case of Gujarat Power Corporation Ltd versus ACIT reported in 26 Taxmann.com 51 wherein it was held as under: “37. Coming to the second question, as recorded, contention of the petitioner is that as in the present case, once the Assessing Officer examines a certain claim of the assessee in the original assessment proceedings, raises queries, receives replies, but thereafter makes no additions or disallowances, without…

Addl CIT Ltu, Mumbai vs. The Shipping Corporation of India Ltd, Mumbai

In the result the appeal filed by the Revenue is dismissed

ITA 2129/MUM/2012[2006-07]Status: DisposedITAT Mumbai29 Nov 2019AY 2006-07

For Respondent: Shri R. Manjunatha Swamy

Section 11Section 143(1)Section 143(2)Section 143(3)Section 147Section 234D

The ITO, Ward-1 (1) (3), Rajkot-Gujarat vs. M/S Swapnalok Developers, Rajkot-Gujarat

In the result, the appeal of the Revenue is dismissed

ITA 438/RJT/2015[2007-08]Status: DisposedITAT Rajkot22 Oct 2019AY 2007-08

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri Ranjit Singh, CIR-DRFor Respondent: Shri D.M. Rindani, AR

Section 143(3)Section 147Section 153ASection 40Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT [ Conducted through E-Court at Ahmedabad ] BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER I.T.A. No.438/Rjt/2015 (Assessment Year: 2007-08) The ITO Vs. M/s.Swapnalok Developers Ward-1(1)(3) C/o.Bhupendra T. Pachani Rajkot “Aakashdeep”, Kalavad Road 11-A, Sainagar Co-op. Society Rajkot [PAN No. ABAFS 8095 A (Appellant) .. (Respondent) Appellant by : Shri Ranjit Singh, CIR-DR Respondent by : Shri D.M. Rindani, AR Date of Hearing 04/09/2019 Date of Pronouncement 22/10 /2019 O R D E R PER WASEEM AHMED, ACCOUNTANT…

The ITO, Ward-2(1)(2), Ahmedabad vs. Kachchh Steels Pvt. Ltd., Ahmedabad

In the result, the appeal of the Revenue is dismissed

ITA 1458/AHD/2016[2005-06]Status: DisposedITAT Ahmedabad01 Oct 2019AY 2005-06

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedita Nos.1458-1459/Ahd/2016 "नधा"रण वष"/Asstt. Year:2005-2006 I.T.O, Kachchh Steels Pvt. Ltd., Ward-2(1)(5) Vs Ground Floorhouse, Ahmedabad. Opp. C.N. Vidhyalaya, Ambawadi, Ahmedabad.

For Appellant: Shri Vartik R. Chowshi &

Section 14Section 142(1)Section 143(3)Section 147Section 148

…n itself is invalid and against the laws settled by the Hon’ble Supreme Court in the case cited above. 7.3 We also draw support and guidance from the judgement of Hon’ble Gujarat High Court in the case of Gujarat Power Corporation Ltd versus ACIT reported in 26 Taxmann.com 51 wherein it was held as under: “37. Coming to the second question, as recorded, contention of the petitioner is that as in the present case, once the Assessing Officer examines a certain claim of the assessee in the original assessment proceedings, raises queries, receives replies, but thereafter makes no additions or disallowances, without…

Aquagel Chemicals(Bhavnagar)P. Ltd., Bhavnagar vs. DCIT, Circle-1, Bhavanagar

In the result, appeal of the assessee in ITA No

ITA 424/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad01 Oct 2019AY 2014-15

Bench: Shri Kul Bharat & Shri Waseem Ahmedaquagel Chemicals Vs. Dcit, (Bhavnagar) Pvt. Ltd., Circle – 1, 251, Navagam, Kardej, Bhavnagar. Dist. Bhavnagar – 364 060. [Pan No. Aakca 9462 B] (Appellant) (Respondent) ..

For Appellant: Shri Parimal B. Parmar, A.RFor Respondent: Shri Satish Solanki, Sr. D.R

Section 143(3)Section 14ASection 234A

…sion. Learned Counsel placed reliance in the following cases: " CIT vs. Reliance Industries Ltd. - 410 ITR 466 (SC); " CIT vs. Torrent Power Ltd. - 363 ITR 474 (Guj); " CIT vs. Suzlon Energy Ltd. - 354 ITR 630 (Guj); " CIT vs. Gujarat Power Corporation Ltd. - 352 ITR 583 (Guj); " CIT vs. Hitachi Home & Life Solutions (I). Ltd. - (2014) 41 taxmann.com 540 (Guj); " CIT vs. Reliance Utilities & Power Ltd. - 313 ITR 340 (Bom); " Munjal Sales Corporation vs. CIT - 298 ITR 298 (SC); In rejoinder, Learned Counsel for the assessee placed reliance working made in the chart. The assessee has stated in chart as under: Part…

The Indian Film Combine P.Ltd, Mumbai vs. Principal Commissioner of Income Tax 16, Mumbai

In the result, the appeal of the assessee is hereby ordered to be allowed

ITA 1985/MUM/2019[2014-15]Status: DisposedITAT Mumbai13 Sept 2019AY 2014-15

Bench: Shri M. Balaganesh, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.1985/Mum/2019 (ननधधारण वर्ा / Assessment Years: 2014-15) बनधम/ The Indian Film Combine Principal Commissioner Of Income-Tax-16 Pvt. Ltd. Vs. Room No.442, Aayakar 1St Floor, Maker Tower „F‟ Bhawan, M.K. Road, Cuffe-Parade, Mumbai- Mumbai. 400005. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. :Aaaci3611E (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee By: Shri Prakash Jothwani (Ar) Revenue By: Shri Awungshi Gimson (Dr) सुनवाई की तारीख / Date Of Hearing: 06/08/2019 घोषणा की तारीख /Date Of Pronouncement: 13/09/2019 आदेश / O R D E R Per Amarjit Singh, Jm: The Assessee Has Filed The Present Appeal Against The Order Dated 31.01.2019 Passed By The Principal Commissioner Of Income Tax, Mumbai [Hereinafter Referred To As The “Pcit”] Relevant To The A.Y.2014-15 In Which The Principal Commissioner Of Income Tax Has Invoked The Provisions U/S 263 Of The I.T. Act, 1961. 2. The Assessee Has Raised The Following Grounds: - “I. The Principal Commissioner Of Income Tax -16 ("Hereinafter Referred To As The Pcit"), Ignoring The Relevant Facts On Record, Has Erred In Passing Order Under Section 263 Of The Income Tax Act, 1961 By Holding That The Assessment Order Passed By The Ito 16(1)(5) ("Hereinafter Referred To As The Learned Ao") U/S 143(3) Of The Act Dated 26.12.2016 Is Erroneous So As To Be Prejudicial To The Interest Of The Revenue & Directing The Ao To Decide All The Issues Afresh. The Appellant Submits That The Order U/S.263 Of The Act For Modifying The Order U/S.143(3) Of The Act Is Bad In Law, Illegal, Ultra-Virus, In Excess Of And/Or In Want Of Jurisdiction & Otherwise Void. 2. The Pcit Failed To Appreciate That The A.O. While Passing Order U/S 143(3) Has Considered The Facts Of The Case & Had Taken The Legally Correct View. The Pcit Erroneously Observed That There Is At Least Some

For Appellant: Shri Prakash Jothwani (AR)For Respondent: Shri Awungshi Gimson (DR)

Section 143(1)Section 143(2)Section 143(3)Section 263

…er, in this regard, the Ld. Representative of the assessee has relied upon the decision of the Indian Oil Panipat Power Const. Ltd. (315 ITR 255)(Del), Bokaro Steel Ltd. (236 ITR 315) (SC), Karnal Co-op. Sugar Ltd. (243 ITR 2)(SC) & Gujarat Power Corpn. Ltd. (354 ITR 201)(Guj). The legal proposition is not in dispute. But this fact came into notice that the issue has been examined by AO while passing the order u/s 143(3) of the Act. The reply was given vide letter dated 16.08.2016, 30.11.2016 & 09.12.2016 lies at page no. 52 to 59 of the paper book. The specific reply to the query is hereby reproduced as under: -…

M/S. Khyati Realities Ltd., Ahmedabad vs. ACIT, Circle-2(1)(2), Ahmedabad

In the result, the appeal of the assessee is partly allowed

ITA 552/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad14 Jun 2019AY 2013-14

For Appellant: Shri Tushar Hemani, A.RFor Respondent: Shri M. Anand Kumar, Sr. D.R

Section 115JSection 143(2)Section 143(3)Section 14A

…The judicial pronouncements referred by the ld. counsel are placed below. CIT vs. Reliance Industries Ltd. -410 ITR 466 (SC) CIT vs. Torrent Power Ltd. - 363 ITR 474 (Guj) CIT vs. Suzlan Energy Ltd. – 354 ITR 630 (Guj) CIT vs. Gujarat Power Corporation Ltd. – 352 ITR 583 (Guj) CIT vs. Hitachi Home & Life Solutions (I). Ltd. – (2014) 41 taxmann.com 540 (Guj) CIT vs. Reliance Utilities & Power Ltd. -313 ITR 340 (Bom) Munjal Sales Corporation vs. CIT- 298 ITR 298 (SC) The ld. counsel has also placed reliance on the decision of Wadhwa Residence Pvt. Ltd. vs. ACIT (2018) 95 taxman.com 294 (Mum-Trib) wherein it is held…

M/S. Bajaj Foods Ltd., Ahmedabad vs. The Income Tax Officer, Ward-1(2), Ahmedabad

In the result, the ground of appeal no

ITA 2276/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad21 Feb 2019AY 2010-11

For Appellant: Shri Tushar Hemani, A.RFor Respondent: Shri Lalit P. Jain, Sr. D.R

Section 143(2)Section 143(3)Section 36

…s called for u/s 36(l)(iii) on the fresh advances during the year under consideration as well. Reliance is placed on: > CIT vs. Torrent Power Ltd. - 363 ITR 474 (Guj); > CIT vs. Suzkm Energy Ltd. - 354 ITR 630 (Guj); > CIT vs. Gujarat Power Corporation Ltd. - 352 ITR 583 (Guj); > CIT vs. Hitachi Home & Life Solutions (I). Ltd. - (2014) 41 taxmann.com 540 (Guj); > CIT vs. Reliance Utilities & Power I ,<d. - 313 ITR 340 (Bom); > Munjal Sales Corporation vs. CIT - 298 ITR 298 (SC); In light of the above, impugned disallowance deserves to be deleted.” On the other hand ld. departmental representative has placed reli…

M/S. Madhu Silica Pvt. Ltd., Bhavnagar vs. The ACIT., Circle-1, Bhavnagar

In the result, the appeal of the assessee is partly allowed

ITA 450/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad18 Feb 2019AY 2012-13

For Appellant: Shri Tushar Hemani, A.RFor Respondent: Shri Mudit Nagpal, Sr. D.R

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

…nts (A/B * 100) In this connection, the ld. counsel has also placed reliance on following judicial pronouncements:- > CIT vs. Torrent Power Ltd. - 363 ITR 474 (Guj.) > CIT vs. Suzlon Energy Ltd. - 354 ITR 630 (Guj) > CIT vs. Gujarat Power Corporation Ltd. - 352 ITR 583 (Guj) > CIT vs. Hitachi Home & Life Solutions (I). Ltd. - (2014) 41 taxmann.com 540 (Guj) > CIT vs. Reliance Utilities & Power Ltd. - 313 ITR 340 (Bom) > Munjal Sales Corporation vs. < IT - 298 ITR 298 (SC). We observe that it has been demonstrated from the above material on record that the assessee was having sufficient interest free fund in th…

M/S Rajasthan Urban Drinking Water Sewerage and Infrastructure Corporation Limited, Jaipur vs. Assistnat Commissioner of Income Tax, Circle-6, Jaipur

In the result, both the appeals filed by the assessee are allowed

ITA 714/JPR/2018[2014-15]Status: DisposedITAT Jaipur05 Feb 2019AY 2014-15

For Appellant: Shri S.K. Gogra (C.A.)For Respondent: Shri Varinder Mehta (CIT)

Section 2(24)

…ention, he has relied upon the decision of Hon’ble Karnatka High Court in case of CIT & Anr. Vs. Karnatka Urban Infrastructure Development & Finance Corporation 315 ITR 301, decision of Hon’ble Gujarat High Court in case of Gujarat Power Corporation vs. ITO 354 ITR 201 and decision of Coordinate Bench of this Tribunal in case of Rajasthan Avas Vikas & Infrastructure Ltd. vs. DCIT dated 18.03.2016 in ITA No. 247 & 248/JP/2014. 4. On the other hand, ld. DR has relied on the orders of the authorities below and submitted that once the assessee is taking M/s Rajasthan Urban Drinking Water Sewerage and Infrastructu…

M/S Rajasthan Urban Drinking Water Sewerage and Infrastructure Corporation Limited, Jaipur vs. Assistnat Commissioner of Income Tax, Circle-6, Jaipur

In the result, both the appeals filed by the assessee are allowed

ITA 713/JPR/2018[2013-14]Status: DisposedITAT Jaipur05 Feb 2019AY 2013-14

For Appellant: Shri S.K. Gogra (C.A.)For Respondent: Shri Varinder Mehta (CIT)

Section 2(24)

Sharma Cars Pvt. Ltd., Ahmedabad vs. The Dy. CIT, Circle-8, Now Circle-4(1)(1), Ahmedabad

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

ITA 1655/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad01 Feb 2019AY 2011-12

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./ Ita No. 1655/Ahd/2015 "नधा"रण वष"/Assessment Year: 2011-12 Sharma Cars P.Ltd. Dcit, Cir.8 “Kayakalp”, N.H. No.8 Vs Ahmedabad. Naroda, Ahmedabad 382330. Pan: Aadcs 0305 E अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri T.P. Hemani & Shri P.B. Parmar, Ar Revenue By : Shri Vinod Tanwani, Sr.Dr

For Appellant: Shri T.P. Hemani, and Shri P.B. Parmar, ARFor Respondent: Shri Vinod Tanwani, Sr.DR

Section 143(2)Section 40A(2)Section 40A(2)(b)

…are of such interest free advance. In support of this, the assessee has made reference to the following decisions: i) CIT Vs. Torrent Power Ltd., 363 ITR 474 (Guj) ii) CIT Vs. Suzlon Energy Ltd., 354 ITR 630 (Guj) iii) CIT Vs. Gujarat Power Corporation Ltd., 352 ITR 583 (Guj) iv) CIT Vs. Hitachi Home & Life Solutions (I) Ltd., 41 taxmann.com 540 (Guj) v) CIT Vs. Reliance utilities & Power Ltd., 313 ITR 340 (Bom) vi) Munjal Sales Corporation Vs. CIT, 298 ITR 298 (SC) 14. Since the assessee has more interest free funds with it than the one advanced by it, therefore, following the decision of Hon’ble Gujarat High…

Yamir Packaging Pvt. Ltd., Ahmedabad vs. The Dy.CIT, Circle - 8, Ahmedabad

In the result, the appeals of the assessee is partly allowed for statistical purpose

ITA 534/AHD/2014[2010-11]Status: DisposedITAT Ahmedabad17 Jan 2019AY 2010-11

Bench: Shri Rajpal Yadav & Shri Amarjit Singhआयकर अपील सं./ Ita No.534/Ahd/2014 "नधा"रण वष"/Asstt. Year: 2010-2011 Yamir Packaging P.Ltd. Vs. Dcit, Cir.8 11, Yes House Ahmedabad. Shivalik Plaza Opp: Ama, Iim Road Polytechnic, Ahmedabad 380 015. Pan Aaacy 0728 N.

For Appellant: Shri Tushar Hemani, ARFor Respondent: Shri Kamlesh Makwana, Sr.DR

Section 143(2)Section 250Section 36(1)(iii)

…nses required to be made for capitalization. In support of his contentions, he relied upon the following decisions: > CIT vs. Torrent Power Ltd. - 363 ITR 474 (Guj); > CIT vs. Suzlon Energy Ltd. - 354 ITR 630 (Guj); > CIT vs. Gujarat Power Corporation Ltd. - 352 ITR 583 (Guj); > CIT vs. Hitachi Home & Life Solutions (I). Ltd. - (2014) taxntann.com 540 (Guj); > CIT vs. Reliance Utilities & Power Ltd. - 313 ITR 340 (Bom); 5 > Munjal Sales Corporation vs. CIT - 298 ITR 298 (SC); On the other hand, the ld.DR relied upon order of the AO. 7. We have duly considered rival contentions and gone through the record caref…

Vishesh Infrastructure P.Ltd, New Delhi vs. ACIT, Circle-26(2), New Delhi

In the result, the Appeal filed by the Assessee stand allowed

ITA 4464/DEL/2018[2009-10]Status: DisposedITAT Delhi04 Dec 2018AY 2009-10

Bench: Shri H.S. Sidhu

For Appellant: Shri Tarun Batra, CAFor Respondent: Sh. SL Anuragi, Sr. DR

Section 143(2)Section 143(3)Section 147Section 148

…e law settled by the various Courts. To support his contention, he relied upon the following case laws:- i) Rallis India Ltd. vs. ACIT (2010) 323 ITR 54. ii) CIT vs. Cheil Communications India (P) Ltd. (2013) 354 ITR 549. iii) Gujarat Power vs. ACIT (2013) 350 ITR 266 iv) Lanxess ABS Ltd. vs. DCIT (Special Civil Application No. 17530 of 2011 dated 11.4.2012). v) Ralson India Ltd. Vs. DCIT (2014) 43 taxmann.com 293 vi) CIT vs. Mirza International Ltd. (2015) 54 taxman.com 217 vii) CIT vs. Orient Craft 354 ITR 536 6. On the other hand, Ld. DR relied upon the order of the Ld. CIT(A) and stated that the Ld. CIT(…