CIT v. Hukumchand Mills Ltd.

DCIT Circle- 2(1)(1), Mumbai vs. M/S Bombay Dyeing & Manufacturing Co. Ltd, Mumbai

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year : 2009-10 & Assessment Year: 2010-11

…d expenditure incurred in compliance of law or the direction of the statutory authorities, the same is allowable. This view is supported by the case law relied on by the assessee of Hon’ble Bombay High court in the case of CIT vs. Hukumchand Mills Ltd. (1993) 202 ITR 474 (Bom.). Further, another aspect argued by the learned Counsel is that interest and principal amount itself is doubtful of recovery, the question of taxing hypothetical interest does not arise. This view is also supported by the decision of Hon’ble Supreme Court in the case of UCO Bank Vs. CIT (1999) 237 ITR 889 (SC). In view of the above discussi…

ACIT, Circle - 2(1)(1), Mumbai vs. The Bombay Dyeing & Mfg. Co. Ltd., Mumbai

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year : 2009-10 & Assessment Year: 2010-11

…d expenditure incurred in compliance of law or the direction of the statutory authorities, the same is allowable. This view is supported by the case law relied on by the assessee of Hon’ble Bombay High court in the case of CIT vs. Hukumchand Mills Ltd. (1993) 202 ITR 474 (Bom.). Further, another aspect argued by the learned Counsel is that interest and principal amount itself is doubtful of recovery, the question of taxing hypothetical interest does not arise. This view is also supported by the decision of Hon’ble Supreme Court in the case of UCO Bank Vs. CIT (1999) 237 ITR 889 (SC). In view of the above discussi…

ACIT, Circle - 2(1)(1), Mumbai vs. The Bombay Dyeing & Mfg. Co. Ltd., Mumbai

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year : 2009-10 & Assessment Year: 2010-11

…d expenditure incurred in compliance of law or the direction of the statutory authorities, the same is allowable. This view is supported by the case law relied on by the assessee of Hon’ble Bombay High court in the case of CIT vs. Hukumchand Mills Ltd. (1993) 202 ITR 474 (Bom.). Further, another aspect argued by the learned Counsel is that interest and principal amount itself is doubtful of recovery, the question of taxing hypothetical interest does not arise. This view is also supported by the decision of Hon’ble Supreme Court in the case of UCO Bank Vs. CIT (1999) 237 ITR 889 (SC). In view of the above discussi…

ACIT 2(1), Mumbai vs. Bombay Dyeing & Manufacturing Co, . Ltd, Mumbai

In the result, ground of appeal raised by Revenue is dismissed

Bench: Shri R.C. Sharma & Shri Pawan Singhacit -2(1) M/S Bombay Dyeing & Mfg. Co. Aayakar Bhavan, M.K. Road, Ltd. Neville House, J N Heredia Room No. 575, 5Th Floor, M.K. Vs. Marg, Ballard Estate, Road, Mumbai-20. Mumbai-400001 Pan:Aaact2328K (Appellant) (Respondent) M/S Bombay Dyeing & Mfg. Co. Acit -2(1) Ltd. Neville House, J N Heredia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-20. Vs. Mumbai-400001 Pan:Aaact2328K (Appellant) (Respondent) Acit -2(1) M/S Bombay Dyeing & Mfg. Co. Room No. 561, 5Th Floor, Ltd. Neville House, J N Heredia Vs. Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-20. Mumbai-400001 Pan:Aaact2328K (Appellant) (Respondent) M/S Bombay Dyeing & Mfg. Co. Acit -2(1) Ltd. Neville House, J N Heredia Aayakar Bhavan, M.K. Road, Mumbai-20. Marg, Ballard Estate, Vs. Mumbai-400001 Pan:Aaact2328K (Appellant) (Respondent)

…nce of law or the direction of the statutory authorities, the same is allowable. This view is supported by the case law relied on by the assessee of Hon'ble Bombay High Ms Bombay Dyeing & Mfg. Co. Ltd. court in the case of CIT v. Hukumchand Mills Ltd. [1993] 202 ITR 474 . Further, another aspect argued by the learned Counsel is that interest and principal amount itself is doubtful of recovery, the question of taxing hypothetical interest does not arise. This view is also supported by the decision of Hon'ble Supreme Court in the case of UCO Bank v. CIT [1999] 237 ITR 889/104 Taxman 547. In view of the above discu…

Addl CIT 2(1), Mumbai vs. Bombay Dyeing & Mfg Co. Ltd, Mumbai

In the result, ground of appeal raised by Revenue is dismissed

Bench: Shri R.C. Sharma & Shri Pawan Singhacit -2(1) M/S Bombay Dyeing & Mfg. Co. Aayakar Bhavan, M.K. Road, Ltd. Neville House, J N Heredia Room No. 575, 5Th Floor, M.K. Vs. Marg, Ballard Estate, Road, Mumbai-20. Mumbai-400001 Pan:Aaact2328K (Appellant) (Respondent) M/S Bombay Dyeing & Mfg. Co. Acit -2(1) Ltd. Neville House, J N Heredia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-20. Vs. Mumbai-400001 Pan:Aaact2328K (Appellant) (Respondent) Acit -2(1) M/S Bombay Dyeing & Mfg. Co. Room No. 561, 5Th Floor, Ltd. Neville House, J N Heredia Vs. Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-20. Mumbai-400001 Pan:Aaact2328K (Appellant) (Respondent) M/S Bombay Dyeing & Mfg. Co. Acit -2(1) Ltd. Neville House, J N Heredia Aayakar Bhavan, M.K. Road, Mumbai-20. Marg, Ballard Estate, Vs. Mumbai-400001 Pan:Aaact2328K (Appellant) (Respondent)

…nce of law or the direction of the statutory authorities, the same is allowable. This view is supported by the case law relied on by the assessee of Hon'ble Bombay High Ms Bombay Dyeing & Mfg. Co. Ltd. court in the case of CIT v. Hukumchand Mills Ltd. [1993] 202 ITR 474 . Further, another aspect argued by the learned Counsel is that interest and principal amount itself is doubtful of recovery, the question of taxing hypothetical interest does not arise. This view is also supported by the decision of Hon'ble Supreme Court in the case of UCO Bank v. CIT [1999] 237 ITR 889/104 Taxman 547. In view of the above discu…

The Bombay Dyeing & Mfg. Co. Ltd, Mumbai vs. DCIT RG 2(1)(1), Mumbai

Bench: Sri Mahavir Singh, Jm & Sri N K Pradhan, Am The Bombay Dyeing & Mfg. Co. Dy. Commissioner Of Limited Income Tax, Range- Neville House, J.N. Heradia Marg, 2(1)(1), Mumbai Vs. Ballard Estate, Mumbai-400 001 Room No.561, Aayakar Pan No.Aaact2328K Bhavan, Mumbai-400 020

…d expenditure incurred in compliance of law or the direction of the statutory authorities, the same is allowable. This view is supported by the case law relied on by the assessee of Hon’ble Bombay High court in the case of CIT vs. Hukumchand Mills Ltd. (1993) 202 ITR 474 (Bom.). Further, another aspect argued by the learned Counsel is that interest 10 The Bombay Dyeing & Mfg. Co. Limited (A.Y:2012-13) and principal amount itself is doubtful of recovery, the question of taxing hypothetical interest does not arise. This view is also supported by the decision of Hon’ble Supreme Court in the case of UCO Bank Vs. CIT…