CIT v. Loonkar Tools (P.) Ltd.

213 ITR 721Reported decision1995#23634 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 350,364 Indian tax judgments — from 2013 to 2020.

Judgments citing CIT v. Loonkar Tools (P.) Ltd.

DCIT, Circle-6, Jaipur vs. M/S. Jaipur Zila Dugdh Utpadak Sahakari Sangh Ltd., Jaipur

In the result, both the appeal of the assessee and the Revenue are disposed off with above directions

ITA 1243/JPR/2019[2016-17]Status: DisposedITAT Jaipur28 Feb 2020AY 2016-17
For Appellant: Shri P. C. Parwal (CA)For Respondent: Shri B.K. Gupta (CIT)
Section 12ASection 56Section 80GSection 80PSection 80P(2)(d)

…(P.) Ltd. v. Addl CIT [1979] 118 ITR 243 (SC), which was overruled by the Apex Court in the case of Distributors (Baroda) (P.) Ltd. v. Union of India [1985] 155 ITR 120. Following the decision of this Court in the case of CIT v. Loonkar Tools (P.) Ltd. [1995] 213 ITR 721, DBITR Application No. 1 of 1987, decided at Jodhpur on 21-7-1994, we are of the view that the Tribunal was not justified in holding that the assessee is entitled to deduction under section 80P(2)(d) of the entire interest and not the net receipts. We are also of the opinion that the Tribunal Ms Jaipur Zila Dugdh Utpadak Sahakari Sangh Ltd., vs.…

M/S. Jaipur Zila Dugdh Utpadak Sahakari Sangh Ltd., Jaipur vs. DCIT, Circle-6, Jaipur

In the result, both the appeal of the assessee and the Revenue are disposed off with above directions

ITA 1178/JPR/2019[2016-17]Status: DisposedITAT Jaipur28 Feb 2020AY 2016-17
For Appellant: Shri P. C. Parwal (CA)For Respondent: Shri B.K. Gupta (CIT)
Section 12ASection 56Section 80GSection 80PSection 80P(2)(d)

…(P.) Ltd. v. Addl CIT [1979] 118 ITR 243 (SC), which was overruled by the Apex Court in the case of Distributors (Baroda) (P.) Ltd. v. Union of India [1985] 155 ITR 120. Following the decision of this Court in the case of CIT v. Loonkar Tools (P.) Ltd. [1995] 213 ITR 721, DBITR Application No. 1 of 1987, decided at Jodhpur on 21-7-1994, we are of the view that the Tribunal was not justified in holding that the assessee is entitled to deduction under section 80P(2)(d) of the entire interest and not the net receipts. We are also of the opinion that the Tribunal Ms Jaipur Zila Dugdh Utpadak Sahakari Sangh Ltd., vs.…

Comm.of Incometax Ap I Hyd vs. M/S.Diamond Hatcheries P.Ltd Hyd

ITTA/49/2001HC Telangana30 Jul 2013
CIT v. Loonkar Tools (P.) Ltd. (213 ITR 721) — Cited in 3 Judgments | BharatTax