CIT v. Interseas Food Exporters

188 Taxmann 343High Court#19636 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 348,628 Indian tax judgments — from 2021 to 2021.

Issues it is cited on

trade creditorsincome tax settlement commissioninterest free advancessection 142(2a)section 14a(2)business connectionsection 41(1)section 41rejection of books of accountblock periodsection 40a(3)commercial expediency

Judgments citing CIT v. Interseas Food Exporters

ACIT, Central Circle- 19, New Delhi vs. Amq Agro India Pvt. Ltd., New Delhi

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

ITA 4409/DEL/2018[2014-15]Status: DisposedITAT Delhi22 Jan 2021AY 2014-15

Bench: Sh. H. S. Sidhudr. B. R. R. Kumar(Through Video Conferencing) Ita No. 2805/Del/2018 : Asstt. Year : 2013-14 Ita No. 2806/Del/2018 : Asstt. Year : 2014-15 M/S Amq Agro India Pvt. Ltd. Vs Asstt. Commissioner Of Income C-134, Ground Floor, Defence Tax, Central Circle-19, Colony, New Delhi-110024 New Delhi (Appellant) (Respondent) Pan No. Aaeca0929M

For Appellant: Sh. Sh. Hiren Mehta, CA &For Respondent: Ms. Pramita M. Biswas, CIT DR
Section 153A

…knowledging the receipt of cash payment, the A.O. is not correct in holding that no substantiating documents exist in respect of cash purchases. 27. The ld. AR relied on the decision of Hon’ble Kerala High Court in the case of CIT v. Interseas Food Exporters 188 Taxmann 343 (Kerala). In this case, cash purchases of fish and fish products were disallowed by applying the provisions of section 40A (3) and further a part disallowance was made in respect of purchase against cash payments. Part disallowance of cash purchase was sustained by CIT (A) and reversed by Tribunal on the ground that assessee cannot be expecte…

DCIT, Central Circle- 19, New Delhi vs. Amq Agro India Pvt. Ltd., New Delhi

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

ITA 4408/DEL/2018[2013-14]Status: DisposedITAT Delhi22 Jan 2021AY 2013-14

Bench: Sh. H. S. Sidhudr. B. R. R. Kumar(Through Video Conferencing) Ita No. 2805/Del/2018 : Asstt. Year : 2013-14 Ita No. 2806/Del/2018 : Asstt. Year : 2014-15 M/S Amq Agro India Pvt. Ltd. Vs Asstt. Commissioner Of Income C-134, Ground Floor, Defence Tax, Central Circle-19, Colony, New Delhi-110024 New Delhi (Appellant) (Respondent) Pan No. Aaeca0929M

For Appellant: Sh. Sh. Hiren Mehta, CA &For Respondent: Ms. Pramita M. Biswas, CIT DR
Section 153A

…knowledging the receipt of cash payment, the A.O. is not correct in holding that no substantiating documents exist in respect of cash purchases. 27. The ld. AR relied on the decision of Hon’ble Kerala High Court in the case of CIT v. Interseas Food Exporters 188 Taxmann 343 (Kerala). In this case, cash purchases of fish and fish products were disallowed by applying the provisions of section 40A (3) and further a part disallowance was made in respect of purchase against cash payments. Part disallowance of cash purchase was sustained by CIT (A) and reversed by Tribunal on the ground that assessee cannot be expecte…

Amq Agro India Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 19, New Delhi

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

ITA 2806/DEL/2018[2014-15]Status: DisposedITAT Delhi22 Jan 2021AY 2014-15

Bench: Sh. H. S. Sidhudr. B. R. R. Kumar(Through Video Conferencing) Ita No. 2805/Del/2018 : Asstt. Year : 2013-14 Ita No. 2806/Del/2018 : Asstt. Year : 2014-15 M/S Amq Agro India Pvt. Ltd. Vs Asstt. Commissioner Of Income C-134, Ground Floor, Defence Tax, Central Circle-19, Colony, New Delhi-110024 New Delhi (Appellant) (Respondent) Pan No. Aaeca0929M

For Appellant: Sh. Sh. Hiren Mehta, CA &For Respondent: Ms. Pramita M. Biswas, CIT DR
Section 153A

…knowledging the receipt of cash payment, the A.O. is not correct in holding that no substantiating documents exist in respect of cash purchases. 27. The ld. AR relied on the decision of Hon’ble Kerala High Court in the case of CIT v. Interseas Food Exporters 188 Taxmann 343 (Kerala). In this case, cash purchases of fish and fish products were disallowed by applying the provisions of section 40A (3) and further a part disallowance was made in respect of purchase against cash payments. Part disallowance of cash purchase was sustained by CIT (A) and reversed by Tribunal on the ground that assessee cannot be expecte…

Amq Agro India Pvt. Ltd., New Delhi vs. ACIT, Central Circle- 19, New Delhi

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

ITA 2805/DEL/2018[2013-14]Status: DisposedITAT Delhi22 Jan 2021AY 2013-14

Bench: Sh. H. S. Sidhudr. B. R. R. Kumar(Through Video Conferencing) Ita No. 2805/Del/2018 : Asstt. Year : 2013-14 Ita No. 2806/Del/2018 : Asstt. Year : 2014-15 M/S Amq Agro India Pvt. Ltd. Vs Asstt. Commissioner Of Income C-134, Ground Floor, Defence Tax, Central Circle-19, Colony, New Delhi-110024 New Delhi (Appellant) (Respondent) Pan No. Aaeca0929M

For Appellant: Sh. Sh. Hiren Mehta, CA &For Respondent: Ms. Pramita M. Biswas, CIT DR
Section 153A

…knowledging the receipt of cash payment, the A.O. is not correct in holding that no substantiating documents exist in respect of cash purchases. 27. The ld. AR relied on the decision of Hon’ble Kerala High Court in the case of CIT v. Interseas Food Exporters 188 Taxmann 343 (Kerala). In this case, cash purchases of fish and fish products were disallowed by applying the provisions of section 40A (3) and further a part disallowance was made in respect of purchase against cash payments. Part disallowance of cash purchase was sustained by CIT (A) and reversed by Tribunal on the ground that assessee cannot be expecte…

CIT v. Interseas Food Exporters (188 Taxmann 343) — Cited in 4 Judgments | BharatTax