CIT v. Indian Toners & Developers Ltd.

326 ITR 435High Court2010#15629 most cited
6

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2020 to 2022.

Issues it is cited on

software technology parksection 43ainterest free advancesdisallowance of interest expenditureput to usemercantile system of accountingsection 36(1)(iii)commercial expediencydisallowance under section 14adisallowance u/s 14arevenue expenditurecapital expenditure

Judgments citing CIT v. Indian Toners & Developers Ltd.

Tanglin Developments Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle-1(3), Bangalore

In the result, assessee’s appeals are allowed

ITA 146/BANG/2021[2017-18]Status: DisposedITAT Bangalore31 Jan 2022AY 2017-18

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri C Ramesh, C.AFor Respondent: Shri Jairam Raipura, CIT(DR OSD)
Section 43A

…ble. 2. The expenditure is not claimed in Profit & loss account and hence not allowable. Exchange fluctuation loss allowable on reinstatement 20. He also relied on the following judgments for the above issue: i) CIT V. Indian Toners & Developers Ltd (2010) 326 ITR 435 (Delhi) ii) Woodward Governor India (F) Ltd (2009) 312 ITR 254 (SC) iii) Oil & Natural Gas Corprn. Ltd V. CIT, Dehradun (2010) 189 Taxman 292 (SC) ITA No.143 - 146/Bang/2021 Page 8 of 31 iv) M/s.Coffeeday Global Ltd for the A.Ys.2013-14 & 2014-15 in ITA Nos.3040 & 3041/Bang/2018. v) Pr.Commissioner of Income Tax V. Albasta Wholesale Services Lt…

Tanglin Developments Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle-1(3), Bangalore

In the result, assessee’s appeals are allowed

ITA 145/BANG/2021[2015-16]Status: DisposedITAT Bangalore31 Jan 2022AY 2015-16

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri C Ramesh, C.AFor Respondent: Shri Jairam Raipura, CIT(DR OSD)
Section 43A

…ble. 2. The expenditure is not claimed in Profit & loss account and hence not allowable. Exchange fluctuation loss allowable on reinstatement 20. He also relied on the following judgments for the above issue: i) CIT V. Indian Toners & Developers Ltd (2010) 326 ITR 435 (Delhi) ii) Woodward Governor India (F) Ltd (2009) 312 ITR 254 (SC) iii) Oil & Natural Gas Corprn. Ltd V. CIT, Dehradun (2010) 189 Taxman 292 (SC) ITA No.143 - 146/Bang/2021 Page 8 of 31 iv) M/s.Coffeeday Global Ltd for the A.Ys.2013-14 & 2014-15 in ITA Nos.3040 & 3041/Bang/2018. v) Pr.Commissioner of Income Tax V. Albasta Wholesale Services Lt…

Tanglin Developments Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle-1(3), Bangalore

In the result, assessee’s appeals are allowed

ITA 144/BANG/2021[2014-15]Status: DisposedITAT Bangalore31 Jan 2022AY 2014-15

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri C Ramesh, C.AFor Respondent: Shri Jairam Raipura, CIT(DR OSD)
Section 43A

…ble. 2. The expenditure is not claimed in Profit & loss account and hence not allowable. Exchange fluctuation loss allowable on reinstatement 20. He also relied on the following judgments for the above issue: i) CIT V. Indian Toners & Developers Ltd (2010) 326 ITR 435 (Delhi) ii) Woodward Governor India (F) Ltd (2009) 312 ITR 254 (SC) iii) Oil & Natural Gas Corprn. Ltd V. CIT, Dehradun (2010) 189 Taxman 292 (SC) ITA No.143 - 146/Bang/2021 Page 8 of 31 iv) M/s.Coffeeday Global Ltd for the A.Ys.2013-14 & 2014-15 in ITA Nos.3040 & 3041/Bang/2018. v) Pr.Commissioner of Income Tax V. Albasta Wholesale Services Lt…

Tanglin Developments Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle-1(3), Bangalore

In the result, assessee’s appeals are allowed

ITA 143/BANG/2021[2013-14]Status: DisposedITAT Bangalore31 Jan 2022AY 2013-14

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri C Ramesh, C.AFor Respondent: Shri Jairam Raipura, CIT(DR OSD)
Section 43A

…ble. 2. The expenditure is not claimed in Profit & loss account and hence not allowable. Exchange fluctuation loss allowable on reinstatement 20. He also relied on the following judgments for the above issue: i) CIT V. Indian Toners & Developers Ltd (2010) 326 ITR 435 (Delhi) ii) Woodward Governor India (F) Ltd (2009) 312 ITR 254 (SC) iii) Oil & Natural Gas Corprn. Ltd V. CIT, Dehradun (2010) 189 Taxman 292 (SC) ITA No.143 - 146/Bang/2021 Page 8 of 31 iv) M/s.Coffeeday Global Ltd for the A.Ys.2013-14 & 2014-15 in ITA Nos.3040 & 3041/Bang/2018. v) Pr.Commissioner of Income Tax V. Albasta Wholesale Services Lt…

Soma Tech Pvt. Ltd., Surat vs. Pr. CIT-2, Surat

In the result, appeal of the assessee is dismissed

ITA 344/SRT/2018[2013-14]Status: DisposedITAT Surat07 Jun 2021AY 2013-14

Bench: Shri Pawan Singh, Hon'Ble & Dr. Shri Arjun Lal Saini, Hon'Ble(Virtual Hearing) आ.अ.सं./I.T.A No.344/Srt/2018 "नधा"रण वष"/Assessment Year: 2013-14 Soma Tech Pvt. Ltd., Vs. The Principal 301, Soham House, Commissioner Of Income Opp. St. Xavier’S School, Tax-2, Surat. Ghod Dod Road, Surat. [Pan: Aakcs 5265 N] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओर से /Assessee By Shri Hiren Vepari – Ca राज"वक"ओर से /Revenue By Shri Ritesh Mishra – Cit-Dr

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

…ve sourced from its own funds. To support his contention, the learned AR of the assessee relied upon the following decisions:  ITA No.686 & 687/PN/2011 (Pune ITAT), Rohit Exhaust Systems Pvt. Ltd.  312-ITR-254 (SC), Woodward Governor India P. Ltd.,  [2010] 326 ITR 435 (Delhi), Indian Toners & Developers Ltd.,  189 Taxman 292 (SC), Oil & Natural Gas Corpn. Ltd.,  184-TTJ-741 (Mumbai), Yash Raj Films (P) Ltd.,  105-TTJ-591 (Delhi ‘D’), Silicon Graphics Systems (I) Ltd,  161-Taxman-166 (Jp. Trib.), Indian Shaving Products Ltd.,  200-Taxman-177(Kar.) (Mag.),Wipro Finance Ltd., 9 Soma Tech Pvt. Ltd., Vs. Pr.C…

M/S Tanglin Developement Ltd, Bangalore vs. The Deputy Commissioner of Income Tax Central Circle-1(3), Bangalore

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

ITA 1527/BANG/2018[2013-14]Status: DisposedITAT Bangalore29 Jun 2020AY 2013-14

Bench: Shri N.V.Vasudevan & Shri B.R.Baskaranita No.1527(Bang)/2018 (Assessment Year : 2013-14) M/S Tanglin Developments Ltd., No.23/2, Coffee Day Square, Vittal Mallya Road, Bangalore-560 001 Panno.Aabct0356N Appellant Vs The Deputy Commissioner Of Income Tax, Circle-1(3), Cr Buildings, Queen’S Road, Bangalore Respondent Appellant By :Shri C. Ramesh, Ca Revenue By : Shri Muzaffar Hussain, Cit

For Appellant: Shri C. Ramesh, CAFor Respondent: Shri Muzaffar Hussain, CIT
Section 115JSection 143(3)Section 14ASection 263

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES : “B”, BANGALORE BEFORE SHRI N.V.VASUDEVAN,VICE PRESIDENT AND SHRI B.R.BASKARAN, ACCOUNTANT MEMBER ITA No.1527(Bang)/2018 (Assessment Year : 2013-14) M/s Tanglin Developments Ltd., No.23/2, Coffee day Square, Vittal Mallya Road, Bangalore-560 001 PANNo.AABCT0356N Appellant Vs The Deputy Commissioner of Income Tax, Circle-1(3), CR Buildings, Queen’s Road, Bangalore Respondent Appellant by :Shri C. Ramesh, CA Revenue by : Shri Muzaffar Hussain, CIT Date of hearing : 24-06-2020 Date of pronouncement : 29-06-2020 O R D E R PER B.R.BASKARAN, AM The assesse…