CIT v. Motilal Hirabhai Spg. And Wvg. Co. Ltd.

113 ITR 173High Court1978#2323 most cited

What is CIT v. Motilal Hirabhai Spg. And Wvg. Co. Ltd. authority for?

The determination of whether share transactions constitute a business activity or an investment depends on the facts of the case. Factors like volume, frequency, and regularity indicate business activity, irrespective of how such transactions are presented in accounts.

49

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2012 to 2025.

Also referred to as

CIT v. Motilal Hirabhai Spg. And Wvg. Co. Ltd. · 113 ITR 173 · business income from share transactions · investment vs business · volume frequency regularity · Section 2(13) · Section 2(14) · income classification

Sections most often in play

Section 115BBESection 142(1)Section 143(1)Section 143(2)Section 143(3)Section 2(13)Section 2(14)Section 24(a)

Issues it is cited on

businessdocumentinterest

Judgments citing CIT v. Motilal Hirabhai Spg. And Wvg. Co. Ltd.

Mr. Chetan Kantilal Mehta, Mumbai vs. ACIT 25(3), Mumbai

The appeal is dismissed

ITA 637/MUM/2011[2007-08]Status: DisposedITAT Mumbai16 May 2016AY 2007-08

Bench: Shri Joginder Singh & Shri Rajendraassessment Year: 2007-08

Section 143(3)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, सी,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “C”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी राजे"", लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Rajendra, Accountant Member Assessment Year: 2007-08 Mr. Chetan K. Mehta, ACIT-25(3), 2-3, Kothari House, C-11, R. No.308, बनाम/ 1st Floor, Oak Lane, Fort, Pratyaksh Kar Bhavan, Vs. Mumbai-400001 Bandra Kurla Complex, Bandra (East), Mumbai-400051 ("नधा"रती /Assessee) (राज"व /Revenue) PAN. No.AAIPM2802J Assessment Year: 2007-08 ACIT-25(3), Mr. Chetan K. Mehta, C-11, R. No.308, 2-3, Kothari…

DCIT Cir - 6, Kolkata. vs. M/S K.B. Capital Markets Ltd., Kolkata

In the result, the appeal by the Assessee is partly allowed, while the appeal by the revenue is dismissed

ITA 1882/KOL/2012[2008-2009]Status: DisposedITAT Kolkata13 May 2016AY 2008-2009

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 1882/Kol/2012 Assessment Year : 2008-09

For Appellant: Shri D.S.Damle, FCAFor Respondent: Shri Rajat Subhra. Biswas, CIT(DR) &
Section 10Section 111ASection 14ASection 94(7)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : KOLKATA [Before Hon’ble Sri N.V.Vasudevan, JM & Shri Waseem Ahmed, AM] I.T.A No. 1882/Kol/2012 Assessment Year : 2008-09 D.C.I.T., Circle-6, -vs.- M/s. K.B.Capital Markets Ltd. Kolkata Kolkata [PAN : AABCK1174F) (Appellant) (Respondent) I.T.A No. 1726/Kol/2012 Assessment Year : 2008-09 M/s. K.B.Capital Markets(P)Ltd. -vs- D.C.I.T., Circle-6, Kolkata Kolkata [PAN : AABCK1174F) (Appellant) (Respondent) For the Department : Shri Rajat Subhra. Biswas, CIT(DR) & Shri Rajat Kumar Kureel, JCIT, Sr.DR For the Assessee : Shri D.S.Damle, FCA Date of Hearing : 09.…

Kb Capital Markets (P) Ltd., Kolkata vs. D.C.I, .T Cir - 6, Kolkata.

In the result, the appeal by the Assessee is partly allowed, while the appeal by the revenue is dismissed

ITA 1726/KOL/2012[2008-2009]Status: DisposedITAT Kolkata13 May 2016AY 2008-2009

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] I.T.A No. 1882/Kol/2012 Assessment Year : 2008-09

For Appellant: Shri D.S.Damle, FCAFor Respondent: Shri Rajat Subhra. Biswas, CIT(DR) &
Section 10Section 111ASection 14ASection 94(7)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : KOLKATA [Before Hon’ble Sri N.V.Vasudevan, JM & Shri Waseem Ahmed, AM] I.T.A No. 1882/Kol/2012 Assessment Year : 2008-09 D.C.I.T., Circle-6, -vs.- M/s. K.B.Capital Markets Ltd. Kolkata Kolkata [PAN : AABCK1174F) (Appellant) (Respondent) I.T.A No. 1726/Kol/2012 Assessment Year : 2008-09 M/s. K.B.Capital Markets(P)Ltd. -vs- D.C.I.T., Circle-6, Kolkata Kolkata [PAN : AABCK1174F) (Appellant) (Respondent) For the Department : Shri Rajat Subhra. Biswas, CIT(DR) & Shri Rajat Kumar Kureel, JCIT, Sr.DR For the Assessee : Shri D.S.Damle, FCA Date of Hearing : 09.…

DCIT, Circle - 12, Kolkata vs. M/S. Hobb International Pvt. Ltd., Kolkata

In the result the cross objection is partly allowed

ITA 1383/KOL/2010[2004-05]Status: DisposedITAT Kolkata11 May 2016AY 2004-05

Bench: Hon’Ble Shri P.M.Jagtap, Am & Sri N.V.Vasudevan, Jm ] I.T.A No. 1383/Kol/2010 Assessment Year : 2004-05

For Appellant: Shri Manish Tiwari, FCAFor Respondent: Shri Niloy Baran Som JCIT, Sr.DR
Section 143(3)

…ate systematic and organized activity with profit motive, then it would be a case 5 6 ITA No.1383/Kol2010&C.O.92/Kol/2010 M/s. HobbInternational Pvt. Ltd. A.Yr.2004-05 of business profits and not capital gain. CIT Vs. Motilal Hirabhai Spg. And Wvg. Co. Ltd., 113 ITR 173 (Guj); Raja Bahadur Viswshwara Singh Vs. CIT, 41 ITR 685 (SC). (d) Purchase without an intention to resell where they are sold under changed circumstances would be capital gains. CIT Vs. PKN, 60 ITR 65 (SC). Purchase with an intention to resell would render the gain profit on sale business profit depending on the circumstances of the case like na…

ITO, Ward - 12(4), Kolkata vs. M/S. Manimaya Holdings Pvt. Ltd., Kolkata

In the result the appeal of the revenue is partly allowed for statistical purpose

ITA 439/KOL/2009[2005-06]Status: DisposedITAT Kolkata06 Apr 2016AY 2005-06

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] Assessment Year : 2005-06

For Appellant: Shri Sallong yaden, Addl.CIT,Sr.DRFor Respondent: Shri Subash Agarwal, Advocate

…. If the volume, frequency and regularity with which transactions are carried out indicate systematic and organized activity with profit motive, then it would be a case of business profits and not capital gain. CIT Vs. Motilal Hirabhai Spg. And Wvg. Co. Ltd., 113 ITR 173 (Guj); Raja Bahadur Viswshwara Singh Vs. CIT, 41 ITR 685 (SC). ITA No.439/Kol/2009-M/s. Manimaya Holdings Pvt. Ltd. A.Y.2005-06 (d) Purchase without an intention to resell where they are sold under changed circumstances would be capital gains. CIT Vs. PKN, 60 ITR 65 (SC). Purchase with an intention to resell would render the gain profit on sale…

I.T.O WD - 44(4), Kolkata vs. Sri Sailesh Jalan, Kolkata

In the result, appeal by the revenue is dismissed

ITA 1880/KOL/2012[2007-08]Status: DisposedITAT Kolkata02 Mar 2016AY 2007-08

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am] Assessment Year : 2007-08

For Appellant: Sallong Yoden, JCIT, Sr.DRFor Respondent: Shri Mahendra Agarwala, FCA
Section 10(38)Section 142(1)

…. If the volume, frequency and regularity with which transactions are carried out indicate systematic and organized activity with profit motive, then it would be a case of business profits and not capital gain. CIT Vs. Motilal Hirabhai Spg. And Wvg. Co. Ltd., 113 ITR 173 (Guj); Raja Bahadur Viswshwara Singh Vs. CIT, 41 ITR 685 (SC). (d) Purchase without an intention to resell where they are sold under changed circumstances would be capital gains. CIT Vs. PKN, 60 ITR 65 (SC). Purchase with an intention to resell would render the gain profit on sale business profit depending on the circumstances of the case like na…

Bharti Televentures vs. Joint Commissioner of Income Tax

ITA/1656/2010HC Delhi18 Dec 2012

Bench: The L'Ribunal L'Hc Questions Of Law Sought To Be Urged Are - (T) Whelher Lhe Tnbunul ./All Rrtlo Crror Tn Holdrng Lhal Il,35,05,869 - Parcl B.), Tlrc.I.!.!R'.\5'Cs Cts Tnstallalion Expendrlure By The Assessee Was Coptt.Tl Ttt Ttulitra & Has Lo Be Lrealed As Su Ch I N Usse S.Vnte N L Proce E D T T T G.\') Ftr) Ll/Hether Lhe Lribuncrl/Cll Rttr., Arror Til Hol&Ng Lhat Lhe Sofltt,Are Expenses Lo Lhe Exlant Of I,69,35,669,- Rrtcun'Ecl By Lhe As.Se.S.Sec V'Ere Captlal Rn Nalure') (Iii) Whelher Lhe [Ribunal Wus.Ltrsti/Ied Itt Cfusollov,Ittg The Nght Of Ull The Sunt Of Q,33,76,671 - Crore.S Us Becldcbt Has Bustness Lo.Ts?" 2 The Assessee Inter Alia Engagcs Itsclf In Thc Promotion & Establishing Telecom Services & Allied Activities, Including Mobilc & Cellular Services. Pursuant To Its Main Object It Leased To M/S L-]Harti 'L'Clcnct Certain Plant & Machinery Llharti I]'N 1 395/2006 &. 165612T0 Page I Ol'10 Signing Date:07.09.2024 17:11:16 Certify That The Digital & Physical File Have Been Compared & The Digital Data Is As Per The Physical File & No Page Is Missing. Signature Not Verified

…$-12 & 13 * IN THE HIGTI COURT OI.' DELIII A'I' NEW DELIII Dtua of'tlectston; 18'h December, 2012 + ITA 1395/2006 + ITA 1656/2010 M/S BFIARTI TELEVENTURES t.l'l) Appcllant Through N'Ir Kaanan Kapoor, Advocate \,OTSUS ADDL /JT COMMISSIONER OIi INCONII,TAX Respondent Through IVIs Suruclu Agganval. Sr Standing Counsel CORAM: MR. JUSTICE S. RAVINDRA I}IIA'I MR. JUSTICE R.V. EASWAIT S. RAVINDRA BHAT. J: (OPEN COtllt'I') Thc present appeals are dircctcd against a common order of Income Tax Appellate Tribunal dated 10 03.2006 in cross-appeals filed before the l'ribunal l'hc questions of law sought to be urged are -…

Bharti Televentures vs. Joint Commissioner of Income Tax

ITA - 1656 / 2010HC Delhi18 Dec 2012

Bench: The L'Ribunal L'Hc Questions Of Law Sought To Be Urged Are - (T) Whelher Lhe Tnbunul ./All Rrtlo Crror Tn Holdrng Lhal Il,35,05,869 - Parcl B.), Tlrc.I.!.!R'.\5'Cs Cts Tnstallalion Expendrlure By The Assessee Was Coptt.Tl Ttt Ttulitra & Has Lo Be Lrealed As Su Ch I N Usse S.Vnte N L Proce E D T T T G.\') Ftr) Ll/Hether Lhe Lribuncrl/Cll Rttr., Arror Til Hol&Ng Lhat Lhe Sofltt,Are Expenses Lo Lhe Exlant Of I,69,35,669,- Rrtcun'Ecl By Lhe As.Se.S.Sec V'Ere Captlal Rn Nalure') (Iii) Whelher Lhe [Ribunal Wus.Ltrsti/Ied Itt Cfusollov,Ittg The Nght Of Ull The Sunt Of Q,33,76,671 - Crore.S Us Becldcbt Has Bustness Lo.Ts?" 2 The Assessee Inter Alia Engagcs Itsclf In Thc Promotion & Establishing Telecom Services & Allied Activities, Including Mobilc & Cellular Services. Pursuant To Its Main Object It Leased To M/S L-]Harti 'L'Clcnct Certain Plant & Machinery Llharti I]'N 1 395/2006 &. 165612T0 Page I Ol'10 2012:Dhc:7825-Db

…$-12 & 13 * IN THE HIGTI COURT OI.' DELIII A'I' NEW DELIII Dtua of'tlectston; 18'h December, 2012 + ITA 1395/2006 + ITA 1656/2010 M/S BFIARTI TELEVENTURES t.l'l) Appcllant Through N'Ir Kaanan Kapoor, Advocate \,OTSUS ADDL /JT COMMISSIONER OIi INCONII,TAX Respondent Through IVIs Suruclu Agganval. Sr Standing Counsel CORAM: MR. JUSTICE S. RAVINDRA I}IIA'I MR. JUSTICE R.V. EASWAIT S. RAVINDRA BHAT. J: (OPEN COtllt'I') Thc present appeals are dircctcd against a common order of Income Tax Appellate Tribunal dated 10 03.2006 in cross-appeals filed before the l'ribunal l'hc questions of law sought to be urged are -…

M/S Bharti Televentures Ltd vs. Addl./Jt.Commissioner of Income Tax

ITA/1395/2006HC Delhi18 Dec 2012

Bench: The Tribunal. The Questions Of Law Sought To Be Urged Are: - (I) Whether The Tribunal Fell Into Error In Holding That `1,35,05,869/- Paid By The Assessee As Installation Expenditure By The Assessee Was Capital In Nature & Has To Be Treated As Such In Assessment Proceedings?

…ITA 1395/2006 & 1656/210 Page 1 of 10 $~12 & 13 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 18th December, 2012 + ITA 1395/2006 + ITA 1656/2010 M/S BHARTI TELEVENTURES LTD. ..... Appellant Through: Mr. Kaanan Kapoor, Advocate. versus ADDL./JT.COMMISSIONER OF INCOME TAX ..... Respondent Through: Ms. Suruchi Aggarwal, Sr. Standing Counsel. CORAM: MR. JUSTICE S. RAVINDRA BHAT MR. JUSTICE R.V. EASWAR S.…