CIT v. Mysore Electrical Industries Ltd.

196 ITR 884High Court#23365 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 348,607 Indian tax judgments — from 2022 to 2025.

Sections most often in play

Section 37(1)

Judgments citing CIT v. Mysore Electrical Industries Ltd.

Ganpati Gems & Jewellers, Jaipur vs. Asstt./Dy. CIT, Circle 6, Jaipur

In the result, the appeal filed by the assessee is allowed

ITA 36/JPR/2025[2017-2018]Status: DisposedITAT Jaipur13 May 2025AY 2017-2018

For Appellant: Shri G. M. Mehta, C.AFor Respondent: Ms. Swapnil Parihar, JCIT-DR

Section 10ASection 10A(5)Section 139(1)Section 143(3)Section 37(1)

…ntary Disclosure of Income and Wealth Act, 1976, which was different from the interest u/s.201(1A) on late deposit of service tax and TDS. The assessee relied on the decision of the Karnataka High Court in the case of CIT vs. Mysore Electrical Industries Ltd. 196 ITR 884 (Kar), where interest for failure to pay PF contribution was held deductible, and also on the Supreme Court decision in the case of Lachmandas Mathura Das vs. CIT 254 ITR 799 (SC), where interest on sales tax arrears was held deductible. Accepting the arguments of the assessee, the CIT(A) held that the impugned interest expense was incurred wholl…

Mangalore Chemicals & Fertilizers Ltd., Bangalore vs. Assistant Commissioner of Income Tax, Circle-4(1)(2), Bengaluru

In the result, appeal filed by the assessee is allowed

ITA 1209/BANG/2024[2013-14]Status: DisposedITAT Bangalore15 Oct 2024AY 2013-14

Bench: Shri Laxmi Prasad Sahu & Shri Keshav Dubeyassessment Year: 2013-14

For Appellant: Sri H.V. Gowthama, A.RFor Respondent: Ms. Neera Malhotra, D.R

Section 143(1)Section 143(3)Section 148Section 250Section 37

…ITA No.1209/Bang/2024 Mangalore Chemicals & Fertilizers Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “C’’BENCH: BANGALORE BEFORE SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER Assessment Year: 2013-14 Mangalore chemicals & Fertilizers Ltd. Level 11, UB Tower, UB City ACIT 24, Vittal Mallya Road Vs. Circle-4(1)(2) Bangalore 560 001 Bangalore PAN NO :AABCM3599G APPELLANT RESPONDENT Appellant by : Sri H.V. Gowthama, A.R. Respondent by : Ms. Neera Malhotra, D.R. Date of Hearing : 01.08.2024 Date of Pronouncement : 15.10.2024 O R D E R PER KESHAV DUBEY, JUDICIAL MEMBER:…

Urc Construction Pvt Ltd., Erode vs. DCIT Central Circle 1, Coimbatore

The appeal stands allowed in terms of our above order

ITA 390/CHNY/2022[2017-18]Status: DisposedITAT Chennai22 Jun 2022AY 2017-18

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri G. Baskar (Advocate)-Ld. ARFor Respondent: Shri Guru Bashyam (CIT) – Ld. DR

Section 139(1)Section 143(3)Section 2(24)(x)Section 263Section 36(1)(va)Section 43B

…assessee’s income. 16. The appeal stands allowed in terms of our above order. Regarding allowability of interest on belated remittance, Ld. AR relied on the decision of Hon’ble High Court of Karnataka in the case of CIT V/s Mysore Electrical Industries Ltd. (196 ITR 884) to submit that such interest was compensatory in nature and hence, an allowable deduction u/s 37(1). 5. Considering the aforesaid facts, we modify the directions given by Ld. Pr. CIT in the revisional order. The Ld. AO is directed to verify the dates of remittances. If the dues have been remitted before due date of filing of return of income u/…