CIT v. Infotex Pvt. Lt

150 ITR 195High Court1984#13500 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2024.

Judgments citing CIT v. Infotex Pvt. Lt

KIZHAKKANIKODE THANKAPPAN MANOJKUMAR,PALAKKAD vs. DCIT(INTERNATIONAL TAXATION), KOCHI

In the result, the appeal filed by the assessee for assessment year 2013-2014 is partly allowed for statistical purposes and the appeal for assessment year 2014-2015 is allowed

ITA 228/COCH/2024[2014-2015]Status: DisposedITAT Cochin21 Oct 2024AY 2014-2015

Bench: Shri Waseem Ahmed & Shri Soundararajan K

For Appellant: Sri.Shivadas Chettoor, CAFor Respondent: Smt.Girly Albert, Sr.DR
Section 143(3)Section 37(1)

…ontended that the building in dispute was ready to use, and therefore, the interest thereon cannot be denied. The learned AR in support of his contention relied on the judgment of the Hon’ble Karnataka High Court in the case of CIT v. Insotex (P.) Ltd. (1984) 150 ITR 195 (Kar), wherein it was held as under: “For giving the benefit of section 36(1)(iii) to the assessee, what is necessary to examine is whether the assessee has used the borrowed capital for the purpose of business. If that is found true, then one need not examine further as to whether the asset purchased from the borrowed capital has been in fact u…

KIZHAKKANIKODE THANKAPPAN MANOJKUMAR,PALAKKAD vs. DCIT(INTERNATIONAL TAXATION), KOCHI

In the result, the appeal filed by the assessee for assessment year 2013-2014 is partly allowed for statistical purposes and the appeal for assessment year 2014-2015 is allowed

ITA 227/COCH/2024[2013-2014]Status: DisposedITAT Cochin21 Oct 2024AY 2013-2014

Bench: Shri Waseem Ahmed & Shri Soundararajan K

For Appellant: Sri.Shivadas Chettoor, CAFor Respondent: Smt.Girly Albert, Sr.DR
Section 143(3)Section 37(1)

…ontended that the building in dispute was ready to use, and therefore, the interest thereon cannot be denied. The learned AR in support of his contention relied on the judgment of the Hon’ble Karnataka High Court in the case of CIT v. Insotex (P.) Ltd. (1984) 150 ITR 195 (Kar), wherein it was held as under: “For giving the benefit of section 36(1)(iii) to the assessee, what is necessary to examine is whether the assessee has used the borrowed capital for the purpose of business. If that is found true, then one need not examine further as to whether the asset purchased from the borrowed capital has been in fact u…

M/S KHODAY INDIA LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, the appeals of the assessee are partly allowed and the appeals of revenue are dismissed

ITA 1056/BANG/2016[2012-13]Status: DisposedITAT Bangalore24 Oct 2017AY 2012-13

Bench: Shri Vijay Pal Rao & Shri Jason P Boaz

For Appellant: Shri S. Sukumar,AdvocateFor Respondent: Shri M.K. Biju, JCIT (DR) (ITAT)-3, Bengaluru
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH ‘ C ’ BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI JASON P BOAZ, ACCOUNTANT MEMBER Sl.No. ITA No. & Appellant Respondent Asst. Year 1. 1056/Bang/2016 M/s. Khoday India Dy. Commissioner of 2012-13 Limited, Income Tax, Brewery House, Circle 4(1)(1), Bangalore. 7th Mile, Kanakapura Road, Bangalore-560 062 2. 1256/Bang/2017 Income Tax Officer, M/s. Khoday India 2009-10 Ward 4(1)(2), Bangalore. Limited, Bangalore. 3. 791/Bang/2017 M/s. Khoday India Asst. Commissioner of 2009-10 Limited, Bangalore. Income Tax, Circle 4(1)(1), Bangalore. 4. 1165/Bang/2016 M/s…

M/S. ICI INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE - 10, KOLKATA, KOLKATA

In the result, Revenue’s appeal is partly allowed

ITA 852/KOL/2007[2003-04]Status: DisposedITAT Kolkata10 Jun 2016AY 2003-04

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 143(3)

…ut the amount of interest paid in respect of capital borrowed for the purpose of business or profession. There is no material finding on record to indicate that the appellant has diverted it borrowed fund for non-business purpose. In CIT vs. Infotex Pvt. Lt., 150 ITR 195 (Kar.) / Calico Dyeing and Printing Works vs. 341 ITR 26 it was held that for giving the benefit of section 36(1)(iii) to the assessee, what is necessary to examine is whether the assessee has used the borrowed capital for the purpose of business, if that is found to be true, then, one need not examine further as to whether the asset purchased wi…

DCIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. ICI INDIA LTD., KOLKATA

In the result, Revenue’s appeal is partly allowed

ITA 1019/KOL/2007[2003-04]Status: DisposedITAT Kolkata10 Jun 2016AY 2003-04

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 143(3)

…ut the amount of interest paid in respect of capital borrowed for the purpose of business or profession. There is no material finding on record to indicate that the appellant has diverted it borrowed fund for non-business purpose. In CIT vs. Infotex Pvt. Lt., 150 ITR 195 (Kar.) / Calico Dyeing and Printing Works vs. 341 ITR 26 it was held that for giving the benefit of section 36(1)(iii) to the assessee, what is necessary to examine is whether the assessee has used the borrowed capital for the purpose of business, if that is found to be true, then, one need not examine further as to whether the asset purchased wi…

M/S. ICI INDIA LIMITED,KOLKATA vs. DCIT, CIRCLE - 10, KOLKATA, KOLKATA

In the result, Revenue’s appeal is partly allowed

ITA 488/KOL/2006[2002-03]Status: DisposedITAT Kolkata10 Jun 2016AY 2002-03

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 143(3)

…ut the amount of interest paid in respect of capital borrowed for the purpose of business or profession. There is no material finding on record to indicate that the appellant has diverted it borrowed fund for non-business purpose. In CIT vs. Infotex Pvt. Lt., 150 ITR 195 (Kar.) / Calico Dyeing and Printing Works vs. 341 ITR 26 it was held that for giving the benefit of section 36(1)(iii) to the assessee, what is necessary to examine is whether the assessee has used the borrowed capital for the purpose of business, if that is found to be true, then, one need not examine further as to whether the asset purchased wi…

ACIT, CIRCLE - 10, KOLKATA, KOLKATA vs. M/S. ICI INDIA LTD., KOLKATA

In the result, Revenue’s appeal is partly allowed

ITA 2613/KOL/2005[2002-03]Status: DisposedITAT Kolkata10 Jun 2016AY 2002-03

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 143(3)

…ut the amount of interest paid in respect of capital borrowed for the purpose of business or profession. There is no material finding on record to indicate that the appellant has diverted it borrowed fund for non-business purpose. In CIT vs. Infotex Pvt. Lt., 150 ITR 195 (Kar.) / Calico Dyeing and Printing Works vs. 341 ITR 26 it was held that for giving the benefit of section 36(1)(iii) to the assessee, what is necessary to examine is whether the assessee has used the borrowed capital for the purpose of business, if that is found to be true, then, one need not examine further as to whether the asset purchased wi…

CIT v. Infotex Pvt. Lt (150 ITR 195) — Cited in 7 Judgments | BharatTax