What is CIT v. Max India Ltd. (P&H) High Court authority for?

No interest disallowance can be made if interest-free funds available are sufficient for interest-free loans and advances.

How many judgments cite CIT v. Max India Ltd. (P&H) High Court?

40 judgments on BharatTax cite CIT v. Max India Ltd. (P&H) High Court (398 ITR 209), spanning 2018 to 2026.

Which sections of the Income Tax Act does CIT v. Max India Ltd. (P&H) High Court come up under?

It is most often cited in judgments turning on Section 14A, Section 36(1)(iii), Section 143(3), Section 250, Section 10(38), Section 143(2).

CIT v. Max India Ltd. (P&H) High Court (398 ITR 209)

NIPUN MALHOTRA,MANDI vs. ITO, WARD, MANDI

In the result, appeal of the assessee is allowed

ITA 81/CHANDI/2022[2013-14]Status: DisposedITAT Chandigarh20 Feb 2026AY 2013-14

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwalआयकर अपील सं./ Ita No. 81/Chd/2022 "नधा"रण वष" / Assessment Year: 2013-14 Nipun Malhotra, The Ito, 135/A, Jawahar Nagar, Vs Ward, Mandi, Himachal Pradesh. Mandi (Hp). "थायी लेखा सं./Pan No: Ablpm6589N अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Ajay Jain, Ca Revenue By : Dr. Ranjit Kaur, Addl. Cit Sr.Dr Date Of Hearing : 12.02.2026 Date Of Pronouncement : 20.02.2026 Physical Hearing O R D E R

For Appellant: Shri Ajay Jain, CAFor Respondent: Dr. Ranjit Kaur, Addl. CIT Sr.DR

Section 143(3)Section 263

…tressing this proposition, we take note of the following judgements : a) ACIT Vs Janak Global Resources Pvt. Ltd. 175 ITD 365 (Chd) b) Bright Enterprises (P) Ltd Vs CIT 381 ITR 107 (P&H.) c) CIT Vs Kapson Associates 381 ITR 204 (P&H.) d) CIT Vs Max India Ltd. 398 ITR 209 (Pb.) A.Y.2013-14 5 e) CIT Vs Max India Ltd (2016) 388 ITR 81 (P&H) f) Gordrej & Boyce Manufacturing Co. Ltd Vs DCIT (2017) 394 ITR 449 (SC) g) CIT Vs Reliance Ind Ltd. 410 ITR 466 (SC) h) CIT v/s Reliance Utilities & Power Ltd 313 ITR 340-344 (Bom) i) CIT V/s Shapoorji Pallongi & Co 423 ITR 220 (Bom) j) Decision of ITAT Chandigarh in ITA No. 18…

M/S KNITWELL INDIA PVT. LTD.,CHANDIGARH vs. DCIT, C-1(1), CHANDIGARH

In the result, appeal of the assessee is partly allowed

ITA 1609/CHANDI/2018[2014-15]Status: DisposedITAT Chandigarh27 Jan 2026AY 2014-15

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwalआयकर अपील सं./ Ita No. 1609/Chd/2018 "नधा"रण वष" / Assessment Year. : 2014-15 M/S Knitwell India Pvt. Ltd., The Dcit, Plot No. 278, Industrial Area, Vs Circle 1(1), Phase-Ii, Chandigarh. Chandigarh. "थायी लेखा सं./Pan No: Aacck4673L अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Ms. Shruti Khandelwal, Advocate Revenue By : Shri Vivek Vardhan, Addl. Cit Sr.Dr Date Of Hearing : 24.11.2025 Date Of Pronouncement : 27.01.2026 O R D E R Physical Hearing Per Raj Pal Yadav, Vp

For Appellant: Ms. Shruti Khandelwal, AdvocateFor Respondent: Shri Vivek Vardhan, Addl. CIT Sr.DR

Section 143(2)Section 14ASection 36(1)(iii)

…40. Apart from the above, we are fortified with following decisions : a) ACIT Vs Janak Global Resources Pvt. Ltd. 175 ITD 365 (Chd) b) Bright Enterprises (P) Ltd Vs CIT 381 ITR 107 (P&H.) c) CIT Vs Kapson Associates 381 ITR 204 (P&H.) d) CIT Vs Max India Ltd. 398 ITR 209 (Pb.) e) CIT Vs Max India Ltd (2016) 388 ITR 81 (P&H) f) Gordrej & Boyce Manufacturing Co. Ltd Vs DCIT (2017) 394 ITR 449 (SC) g) CIT Vs Reliance Ind Ltd. 410 ITR 466 (SC) h) CIT V/s Shapoorji Pallongi & Co 423 ITR 220 (Bom) i) Decision of ITAT Chandigarh in ITA No. 184/Chd/2015 These decisions are on the same line, therefore, no disallowance de…

DCIT, C-V, LUDHIANA vs. M/S HERO CYCLES LTD., LUDHIANA

In the result, appeal of the Department is dismissed and the appeal of the assessee is allowed

ITA 588/CHANDI/2018[2012-13]Status: DisposedITAT Chandigarh08 Sept 2025AY 2012-13

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 588/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 The DCIT C-V, Ludhiana बनाम M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P अपीलार्थी/Appellant प्रत्यर्थी / Respondent आयकर अपील सं. / ITA No. 473/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana बनाम The ACIT C-V, Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P

For Appellant: Shri Ashwani Kumar, Shri Ashish Aggarwal &For Respondent: Shri Manav Bansal, CIT, DR

Section 10(38)Section 143(1)Section 14ASection 36(1)(iii)

…was made for loan given to M/s Hero Exports Pvt. Ltd. in the immediately preceding year when the loan was made, no disallowance can be made in this year in view of the judgement of the Hon'ble Punjab & Haryana High Court in the case of CIT vs. Max India Ltd. 398 ITR 209 (P&H). We also hold that the suo-moto disallowance of Rs. 228636462/- made by the appellant mistakenly in the return also deserves to be deleted in view of the detailed discussions made above. Accordingly, ground no.2 and 3 of the assessee are allowed. 53. In the result, appeal of the Department is dismissed and the appeal of the assessee is all…

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(3), MUMBAI, MUMBAI vs. PRATEEK APPARELS PRIVATE LIMITED, KARNATAKA

In the result, appeals of the Revenue in ITA No

ITA 3099/MUM/2025[2018-19]Status: DisposedITAT Mumbai04 Aug 2025AY 2018-19

For Appellant: \nShri Shankarlal Jain & Shri Satish KumarFor Respondent: \nShri R A Dhyani, (CIT DR)

Section 132Section 143(3)Section 153ASection 36(1)(iii)

…case of Punjab Stainless Steel Ltd 324 ITR 396 (Delhi)\nand of High Court of Madras in case of K. Somasundaram &\nBrothers 238 ITR 939 (Madras). However, High Court of Punjab,\nitself, has recently considered a similar issue in case of CIT vs. Max\nIndia Ltd 398 ITR 209 (P&H). The Tribunal in that case held\ninterest free funds available were sufficient for interest free loans and\nadvances and no interest disallowance was upheld. The High Court on\nappeal held that no question of law arises and upheld the decision of\nITAT. Similarly, in case of Holy Faith International Pvt. Ltd 407\nITR 425 (P&H), the assessee…

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -3(3), MUMBAI vs. PRATEEK APPARELS PRIVATE LIMITED, KARNATAKA

In the result, appeals of the Revenue in ITA No

ITA 2936/MUM/2025[2014-15]Status: DisposedITAT Mumbai04 Aug 2025AY 2014-15

For Appellant: \nShri Shankarlal Jain & Shri Satish KumarFor Respondent: \nShri R A Dhyani, (CIT DR)

Section 132Section 143(3)Section 153ASection 36(1)(iii)

…case of Punjab Stainless Steel Ltd 324 ITR 396 (Delhi)\nand of High Court of Madras in case of K. Somasundaram &\nBrothers 238 ITR 939 (Madras). However, High Court of Punjab,\nitself, has recently considered a similar issue in case of CIT vs. Max\nIndia Ltd 398 ITR 209 (P&H). The Tribunal in that case held\ninterest free funds available were sufficient for interest free loans and\nadvances and no interest disallowance was upheld. The High Court on\nappeal held that no question of law arises and upheld the decision of\nITAT. Similarly, in case of Holy Faith International Pvt. Ltd 407\nITR 425 (P&H), the assessee…

DCIT, C-1(1), CHANDIGARH vs. M/S RANA POLYCOT LTD., CHANDIGARH

In the result, all the appeals are dismissed

ITA 1050/CHANDI/2018[2009-10]Status: DisposedITAT Chandigarh23 Jul 2025AY 2009-10

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwalआयकर अपील सं./ Ita No. 1050/Chd/2018 &

For Appellant: Shri Parikshit Aggarwal, CA and Ms. Shruti Khandelwal, AdvocateFor Respondent: Shri Sarabjeet Singh, CIT, DR

Section 36(1)(iii)

…lowance ought to have been made. He relied upon following judgements: a) ACIT Vs Janak Global Resources Pvt. Ltd. 175 ITD 365 (Chd) b) Bright Enterprises (P) Ltd Vs CIT 381 ITR 107 (P&H.) c) CIT Vs Kapson Associates 381 ITR 204 (P&H.) d) CIT Vs Max India Ltd. 398 ITR 209 (Pb.) e) CIT Vs Max India Ltd (2016) 388 ITR 81 (P&H) f) Gordrej & Boyce Manufacturing Co. Ltd Vs DCIT (2017) 394 ITR 449 (SC) g) CIT Vs Reliance Ind Ltd. 410 ITR 466 (SC) h) CIT v/s Reliance Utilities & Power Ltd 313 ITR 340-344 (Bom) i) CIT V/s Shapoorji Pallongi & Co 423 ITR 220 (Bom) j) Decision of ITAT Chandigarh in ITA No. 184/Chd/2015 3.1…

DCIT, C-1(1), CHANDIGARH vs. M/S RANA POLYCOT LTD., CHANDIGARH

In the result, all the appeals are dismissed

ITA 1015/CHANDI/2018[2012-13]Status: DisposedITAT Chandigarh23 Jul 2025AY 2012-13

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwalआयकर अपील सं./ Ita No. 1050/Chd/2018 &

For Appellant: Shri Parikshit Aggarwal, CA and Ms. Shruti Khandelwal, AdvocateFor Respondent: Shri Sarabjeet Singh, CIT, DR

Section 36(1)(iii)

…lowance ought to have been made. He relied upon following judgements: a) ACIT Vs Janak Global Resources Pvt. Ltd. 175 ITD 365 (Chd) b) Bright Enterprises (P) Ltd Vs CIT 381 ITR 107 (P&H.) c) CIT Vs Kapson Associates 381 ITR 204 (P&H.) d) CIT Vs Max India Ltd. 398 ITR 209 (Pb.) e) CIT Vs Max India Ltd (2016) 388 ITR 81 (P&H) f) Gordrej & Boyce Manufacturing Co. Ltd Vs DCIT (2017) 394 ITR 449 (SC) g) CIT Vs Reliance Ind Ltd. 410 ITR 466 (SC) h) CIT v/s Reliance Utilities & Power Ltd 313 ITR 340-344 (Bom) i) CIT V/s Shapoorji Pallongi & Co 423 ITR 220 (Bom) j) Decision of ITAT Chandigarh in ITA No. 184/Chd/2015 3.1…

DCIT, C-1(1), CHANDIGARH vs. M/S RANA POLYCOT LTD., CHANDIGARH

In the result, all the appeals are dismissed

ITA 1014/CHANDI/2018[2011-12]Status: DisposedITAT Chandigarh23 Jul 2025AY 2011-12

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwalआयकर अपील सं./ Ita No. 1050/Chd/2018 &

For Appellant: Shri Parikshit Aggarwal, CA and Ms. Shruti Khandelwal, AdvocateFor Respondent: Shri Sarabjeet Singh, CIT, DR

Section 36(1)(iii)

…lowance ought to have been made. He relied upon following judgements: a) ACIT Vs Janak Global Resources Pvt. Ltd. 175 ITD 365 (Chd) b) Bright Enterprises (P) Ltd Vs CIT 381 ITR 107 (P&H.) c) CIT Vs Kapson Associates 381 ITR 204 (P&H.) d) CIT Vs Max India Ltd. 398 ITR 209 (Pb.) e) CIT Vs Max India Ltd (2016) 388 ITR 81 (P&H) f) Gordrej & Boyce Manufacturing Co. Ltd Vs DCIT (2017) 394 ITR 449 (SC) g) CIT Vs Reliance Ind Ltd. 410 ITR 466 (SC) h) CIT v/s Reliance Utilities & Power Ltd 313 ITR 340-344 (Bom) i) CIT V/s Shapoorji Pallongi & Co 423 ITR 220 (Bom) j) Decision of ITAT Chandigarh in ITA No. 184/Chd/2015 3.1…

DCIT, C-1(1), CHANDIGARH vs. M/S RANA POLYCOT LTD., CHANDIGARH

In the result, all the appeals are dismissed

ITA 1013/CHANDI/2018[2010-11]Status: DisposedITAT Chandigarh23 Jul 2025AY 2010-11

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwalआयकर अपील सं./ Ita No. 1050/Chd/2018 &

For Appellant: Shri Parikshit Aggarwal, CA and Ms. Shruti Khandelwal, AdvocateFor Respondent: Shri Sarabjeet Singh, CIT, DR

Section 36(1)(iii)

…lowance ought to have been made. He relied upon following judgements: a) ACIT Vs Janak Global Resources Pvt. Ltd. 175 ITD 365 (Chd) b) Bright Enterprises (P) Ltd Vs CIT 381 ITR 107 (P&H.) c) CIT Vs Kapson Associates 381 ITR 204 (P&H.) d) CIT Vs Max India Ltd. 398 ITR 209 (Pb.) e) CIT Vs Max India Ltd (2016) 388 ITR 81 (P&H) f) Gordrej & Boyce Manufacturing Co. Ltd Vs DCIT (2017) 394 ITR 449 (SC) g) CIT Vs Reliance Ind Ltd. 410 ITR 466 (SC) h) CIT v/s Reliance Utilities & Power Ltd 313 ITR 340-344 (Bom) i) CIT V/s Shapoorji Pallongi & Co 423 ITR 220 (Bom) j) Decision of ITAT Chandigarh in ITA No. 184/Chd/2015 3.1…

M/S ORBIT RESORTS (P) LTD.,CHANDIGARH vs. DCIT, C-1(1), CHANDIGARH

In the result, both appeals are allowed

ITA 342/CHANDI/2019[2012-13]Status: DisposedITAT Chandigarh08 Apr 2025AY 2012-13

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwal

For Appellant: Shri Ashwani Kumar, CA, Shri Aditya Kumar,CA &For Respondent: Dr. Ranjit Kaur, Addl. CIT Sr.DR

…buttressing our above view, we rely upon the following judgements : a) ACIT Vs Janak Global Resources Pvt. Ltd. 175 ITD 365 (Chd) b) Bright Enterprises (P) Ltd Vs CIT 381 ITR 107 (P&H.) c) CIT Vs Kapson Associates 381 ITR 204 (P&H.) d) CIT Vs Max India Ltd. 398 ITR 209 (Pb.) e) CIT Vs Max India Ltd (2016) 388 ITR 81 (P&H) ITA No.341 & 342/CHD/2019 A.Y.2007-08 & 2012-13 4 f) Gordrej & Boyce Manufacturing Co. Ltd Vs DCIT (2017) 394 ITR 449 (SC) g) CIT Vs Reliance Ind Ltd. 410 ITR 466 (SC) h) CIT v/s Reliance Utilities & Power Ltd 313 ITR 340-344 (Bom) i) CIT V/s Shapoorji Palongi & Co 423 ITR 220 (Bom) j) Dec…

M/S ORBIT RESORTS (P) LTD.,CHANDIGARH vs. ADDL. CIT, R-1, CHANDIGARH

In the result, both appeals are allowed

ITA 341/CHANDI/2019[2007-08]Status: DisposedITAT Chandigarh08 Apr 2025AY 2007-08

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwal

For Appellant: Shri Ashwani Kumar, CA, Shri Aditya Kumar,CA &For Respondent: Dr. Ranjit Kaur, Addl. CIT Sr.DR

…buttressing our above view, we rely upon the following judgements : a) ACIT Vs Janak Global Resources Pvt. Ltd. 175 ITD 365 (Chd) b) Bright Enterprises (P) Ltd Vs CIT 381 ITR 107 (P&H.) c) CIT Vs Kapson Associates 381 ITR 204 (P&H.) d) CIT Vs Max India Ltd. 398 ITR 209 (Pb.) e) CIT Vs Max India Ltd (2016) 388 ITR 81 (P&H) ITA No.341 & 342/CHD/2019 A.Y.2007-08 & 2012-13 4 f) Gordrej & Boyce Manufacturing Co. Ltd Vs DCIT (2017) 394 ITR 449 (SC) g) CIT Vs Reliance Ind Ltd. 410 ITR 466 (SC) h) CIT v/s Reliance Utilities & Power Ltd 313 ITR 340-344 (Bom) i) CIT V/s Shapoorji Palongi & Co 423 ITR 220 (Bom) j) Dec…

ITO,CW-1(1), CHENNAI vs. INSPIRISYS SOLUTIONS LTD, KILPAUK

The appeals of the Revenue stand dismissed

ITA 9/CHNY/2022[2012-13]Status: DisposedITAT Chennai26 Jul 2024AY 2012-13

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos.9,10 & 11/Chny/2022 (िनधा"रणवष" / Assessment Years: 2012-13, 2014-15 & 2015-2016) & C.O.Nos.5, 6 &7/Chny/2023 (In Ita Nos.9,10 & 11/Chny/2022) The Income Tax Officer, Vs. M/S. Inspirisys Solutions Limited, Corporate Ward 1(1) First Floor, New Door Nos. 57,59,63 & 64, Chennai 600 034. Dowlath Towers, Taylors Road, Kilpauk, Chennai 600 010. [Pan: Aaaca 5622M] (अपीलाथ"/Appellant) (Respondent/ Cross Objector) Department By : Shri. Nilay Baran Som, Irs, Cit. Shri. Arv Srinivasan, Irs, Addl. Cit Assessee By : Shri. N.V. Balaji, Advocate सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 26.07.2024

For Appellant: Shri. N.V. Balaji, AdvocateFor Respondent: Shri. Nilay Baran Som, IRS, CIT

Section 14ASection 253

…have further come down. Reliance was placed on the judgement of the Hon'ble Supreme Court in the case of CIT v. Reliance Industries Ltd. 410 ITR 466. Further, reliance is placed on the judgement of the High Court of Punjab and Haryana in CIT v. Max India Ltd. 398 ITR 209 b) The interest free advances were given out of commercial expediency The assessee had given the advances to M/s. Accel IT Resources Limited and M/s. Inspirisys Solutions DMCC (formerly M/s. Accel 28 ITA Nos.9-11/Chny/2022 & CO Nos. 5-7/Chny/2023 FZE Dubai). Assessee has filed Memorandum of Association of M/s. Accel IT Resources Limited as ad…

ITO,CW-1(1), CHENNAI vs. INSPIRISYS SOLUTIONS LTD, CHENNAI

The appeals of the Revenue stand dismissed

ITA 11/CHNY/2022[2015-16]Status: DisposedITAT Chennai26 Jul 2024AY 2015-16

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos.9,10 & 11/Chny/2022 (िनधा"रणवष" / Assessment Years: 2012-13, 2014-15 & 2015-2016) & C.O.Nos.5, 6 &7/Chny/2023 (In Ita Nos.9,10 & 11/Chny/2022) The Income Tax Officer, Vs. M/S. Inspirisys Solutions Limited, Corporate Ward 1(1) First Floor, New Door Nos. 57,59,63 & 64, Chennai 600 034. Dowlath Towers, Taylors Road, Kilpauk, Chennai 600 010. [Pan: Aaaca 5622M] (अपीलाथ"/Appellant) (Respondent/ Cross Objector) Department By : Shri. Nilay Baran Som, Irs, Cit. Shri. Arv Srinivasan, Irs, Addl. Cit Assessee By : Shri. N.V. Balaji, Advocate सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 26.07.2024

For Appellant: Shri. N.V. Balaji, AdvocateFor Respondent: Shri. Nilay Baran Som, IRS, CIT

Section 14ASection 253

…have further come down. Reliance was placed on the judgement of the Hon'ble Supreme Court in the case of CIT v. Reliance Industries Ltd. 410 ITR 466. Further, reliance is placed on the judgement of the High Court of Punjab and Haryana in CIT v. Max India Ltd. 398 ITR 209 b) The interest free advances were given out of commercial expediency The assessee had given the advances to M/s. Accel IT Resources Limited and M/s. Inspirisys Solutions DMCC (formerly M/s. Accel 28 ITA Nos.9-11/Chny/2022 & CO Nos. 5-7/Chny/2023 FZE Dubai). Assessee has filed Memorandum of Association of M/s. Accel IT Resources Limited as ad…

ITO, CW-1(1), CHENNAI vs. INSPIRISYS SOLUTIONS LIMITED, CHENNAI

The appeals of the Revenue stand dismissed

ITA 10/CHNY/2022[2014-15]Status: DisposedITAT Chennai26 Jul 2024AY 2014-15

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos.9,10 & 11/Chny/2022 (िनधा"रणवष" / Assessment Years: 2012-13, 2014-15 & 2015-2016) & C.O.Nos.5, 6 &7/Chny/2023 (In Ita Nos.9,10 & 11/Chny/2022) The Income Tax Officer, Vs. M/S. Inspirisys Solutions Limited, Corporate Ward 1(1) First Floor, New Door Nos. 57,59,63 & 64, Chennai 600 034. Dowlath Towers, Taylors Road, Kilpauk, Chennai 600 010. [Pan: Aaaca 5622M] (अपीलाथ"/Appellant) (Respondent/ Cross Objector) Department By : Shri. Nilay Baran Som, Irs, Cit. Shri. Arv Srinivasan, Irs, Addl. Cit Assessee By : Shri. N.V. Balaji, Advocate सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 26.07.2024

For Appellant: Shri. N.V. Balaji, AdvocateFor Respondent: Shri. Nilay Baran Som, IRS, CIT

Section 14ASection 253

…have further come down. Reliance was placed on the judgement of the Hon'ble Supreme Court in the case of CIT v. Reliance Industries Ltd. 410 ITR 466. Further, reliance is placed on the judgement of the High Court of Punjab and Haryana in CIT v. Max India Ltd. 398 ITR 209 b) The interest free advances were given out of commercial expediency The assessee had given the advances to M/s. Accel IT Resources Limited and M/s. Inspirisys Solutions DMCC (formerly M/s. Accel 28 ITA Nos.9-11/Chny/2022 & CO Nos. 5-7/Chny/2023 FZE Dubai). Assessee has filed Memorandum of Association of M/s. Accel IT Resources Limited as ad…

ACIT, CIRCLE- 27(1), NEW DELHI vs. UNITECH LTD., NEW DELHI

In the result, appeal is partly allowed

ITA 8914/DEL/2019[2012-13]Status: DisposedITAT Delhi15 Feb 2023AY 2012-13

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

For Appellant: NoneFor Respondent: Ms. Sapna Bhatia, CIT-DR

Section 14ASection 271(1)(c)Section 40A(3)

…d circumstances are very similar to those involved for the years under consideration, while respectfully following the same, we hold that in view of the decision of the Hon’ble Jurisdictional High Court in the case of CIT vs. Max India Ltd (P & H High Court), 398 ITR 209 the presumption in favour of the assessee that the advances were only out of this surplus funds and such a presumption does not stand reverted, and consequently the issue is held in favour of the assessee. Ground No. 2 in assessee’s appeals for the assessment years 2007-08, 2012-13, and ground No. 1 in the appeal for the assessment year 2013-14 a…

M/S OSWAL WOOLLEN MILLS LTD.,LUDHIANA vs. ACIT, C-7, LUDHIANA

The appeals stand allowed for

ITA 1162/CHANDI/2019[2013-14]Status: DisposedITAT Chandigarh22 Aug 2022AY 2013-14

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastava

For Appellant: Sh. Navdeep Sharma, AdvocateFor Respondent: Dr. Ranjit Kaur, Sr. DR

Section 143(3)Section 36(1)(iii)

…ents :- a. Bright Enterprises (P) Ltd Vs. CIT 381 ITR 107(PB) b. DCIT Vs. Rice Auto Industries.ita No. 800/Chandi/2018 A.Y. 2013-14 c. CIT Vs. Kapsons Associates (2016) 381 ITR 204 (Pb) d. CIT Vs. Max India (2016) 388 ITR 81 (Pb) e. CIT Vs. Max India LTD. 398 ITR 209 (Pb) f. CIT Vs. Reliance Ind. Ltd 410 ITR 466 (SC) 4.2 With respect to ground No.3 in assessment year 2012-13, it was submitted that this ground challenges the disallowance of interest of Rs. 41,96,383/- pertaining to Cash Credit account for purchase of fixed assets. Similarly, in A.Y. 2013-12, ground No. 2 challenges 5 1161 & 1162-c-2019- M/…

M/S OSWAL WOOLLEN MILLS LTD.,LUDHIANA vs. ACIT, C-7, LUDHIANA

The appeals stand allowed for

ITA 1161/CHANDI/2019[2012-13]Status: DisposedITAT Chandigarh22 Aug 2022AY 2012-13

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastava

For Appellant: Sh. Navdeep Sharma, AdvocateFor Respondent: Dr. Ranjit Kaur, Sr. DR

Section 143(3)Section 36(1)(iii)

…ents :- a. Bright Enterprises (P) Ltd Vs. CIT 381 ITR 107(PB) b. DCIT Vs. Rice Auto Industries.ita No. 800/Chandi/2018 A.Y. 2013-14 c. CIT Vs. Kapsons Associates (2016) 381 ITR 204 (Pb) d. CIT Vs. Max India (2016) 388 ITR 81 (Pb) e. CIT Vs. Max India LTD. 398 ITR 209 (Pb) f. CIT Vs. Reliance Ind. Ltd 410 ITR 466 (SC) 4.2 With respect to ground No.3 in assessment year 2012-13, it was submitted that this ground challenges the disallowance of interest of Rs. 41,96,383/- pertaining to Cash Credit account for purchase of fixed assets. Similarly, in A.Y. 2013-12, ground No. 2 challenges 5 1161 & 1162-c-2019- M/…

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

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA No.143 to 146/Bang/2021 Assessment year : 2013-14, 2014-15, 2015-16 & 2017-18 M/s Tanglin Developments Ltd., Vs. The Dy. Commissioner of Income- No.23/2, Coffeeday Square, tax, Vittal Mallya Road, Central Circle-1(3), Bengaluru. Bengaluru-560 001. PAN –AABCT 0356 N ASSESSEE RESPONDENT Assesseeby : Shri C Ramesh, C.A Revenue by : Shri Jairam Raipura, CIT(DR OSD) Date of hearing : 30.12.2021 Date of Pronouncement : 31.01.2022 O R D E R Per Bench These4 appe…

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

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA No.143 to 146/Bang/2021 Assessment year : 2013-14, 2014-15, 2015-16 & 2017-18 M/s Tanglin Developments Ltd., Vs. The Dy. Commissioner of Income- No.23/2, Coffeeday Square, tax, Vittal Mallya Road, Central Circle-1(3), Bengaluru. Bengaluru-560 001. PAN –AABCT 0356 N ASSESSEE RESPONDENT Assesseeby : Shri C Ramesh, C.A Revenue by : Shri Jairam Raipura, CIT(DR OSD) Date of hearing : 30.12.2021 Date of Pronouncement : 31.01.2022 O R D E R Per Bench These4 appe…

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

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA No.143 to 146/Bang/2021 Assessment year : 2013-14, 2014-15, 2015-16 & 2017-18 M/s Tanglin Developments Ltd., Vs. The Dy. Commissioner of Income- No.23/2, Coffeeday Square, tax, Vittal Mallya Road, Central Circle-1(3), Bengaluru. Bengaluru-560 001. PAN –AABCT 0356 N ASSESSEE RESPONDENT Assesseeby : Shri C Ramesh, C.A Revenue by : Shri Jairam Raipura, CIT(DR OSD) Date of hearing : 30.12.2021 Date of Pronouncement : 31.01.2022 O R D E R Per Bench These4 appe…

CIT v. Max India Ltd. (P&H) High Court

What is CIT v. Max India Ltd. (P&H) High Court authority for?

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Issues it is cited on

Judgments citing CIT v. Max India Ltd. (P&H) High Court

NIPUN MALHOTRA,MANDI vs. ITO, WARD, MANDI

M/S KNITWELL INDIA PVT. LTD.,CHANDIGARH vs. DCIT, C-1(1), CHANDIGARH

DCIT, C-V, LUDHIANA vs. M/S HERO CYCLES LTD., LUDHIANA

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(3), MUMBAI, MUMBAI vs. PRATEEK APPARELS PRIVATE LIMITED, KARNATAKA

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -3(3), MUMBAI vs. PRATEEK APPARELS PRIVATE LIMITED, KARNATAKA

DCIT, C-1(1), CHANDIGARH vs. M/S RANA POLYCOT LTD., CHANDIGARH

DCIT, C-1(1), CHANDIGARH vs. M/S RANA POLYCOT LTD., CHANDIGARH

DCIT, C-1(1), CHANDIGARH vs. M/S RANA POLYCOT LTD., CHANDIGARH

DCIT, C-1(1), CHANDIGARH vs. M/S RANA POLYCOT LTD., CHANDIGARH

M/S ORBIT RESORTS (P) LTD.,CHANDIGARH vs. DCIT, C-1(1), CHANDIGARH

M/S ORBIT RESORTS (P) LTD.,CHANDIGARH vs. ADDL. CIT, R-1, CHANDIGARH

ITO,CW-1(1), CHENNAI vs. INSPIRISYS SOLUTIONS LTD, KILPAUK

ITO,CW-1(1), CHENNAI vs. INSPIRISYS SOLUTIONS LTD, CHENNAI

ITO, CW-1(1), CHENNAI vs. INSPIRISYS SOLUTIONS LIMITED, CHENNAI

ACIT, CIRCLE- 27(1), NEW DELHI vs. UNITECH LTD., NEW DELHI

M/S OSWAL WOOLLEN MILLS LTD.,LUDHIANA vs. ACIT, C-7, LUDHIANA

M/S OSWAL WOOLLEN MILLS LTD.,LUDHIANA vs. ACIT, C-7, LUDHIANA

TANGLIN DEVELOPMENTS LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

TANGLIN DEVELOPMENTS LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE

TANGLIN DEVELOPMENTS LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(3), BANGALORE