CIT v. Mysore Sugar Co. Ltd.

46 ITR 649Supreme Court of India1962#875 most cited

What is CIT v. Mysore Sugar Co. Ltd. authority for?

When advances extended in the normal course of business operations become irrecoverable and are written off, these amounts are allowable as a business loss or revenue expenditure.

120

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2011 to 2025.

Also referred to as

Mysore Sugar Co. Ltd. · 46 ITR 649 · Section 37(1) · Section 36(1)(vii) · business loss · advances written off · irrecoverable advances · revenue expenditure · allowable deduction · business expenditure

Sections most often in play

Section 37(1)Section 32Section 147Section 148Section 36(1)(vii)Section 36(2)Section 115JBSection 143(3)
Read the full judgment

Issues it is cited on

section 90aconstruction peunexplained jewellerysection 24(b)under-reporting of incomeproject completion methodsection 80cforeign tax creditroyalty incomewithholding taxdisallowance of interest expendituresection 139(4)

Judgments citing CIT v. Mysore Sugar Co. Ltd.

ACIT 8(1), Mumbai vs. Afcons Infrastructure Ltd, Mumbai

The appeals of the AO stands dismissed

ITA 8127/MUM/2011[2008-09]Status: DisposedITAT Mumbai02 May 2018AY 2008-09
For Appellant: Shri J.D. Mistry and Shri Nitesh JoshiFor Respondent: Shri Samuel Darse-CIT-DR
Section 14Section 14ASection 254(1)

…grievance is that ld. CIT(Appeals) deleted disallowance of advance write-off made by the assessee. Such advances given to farmers were for supply of raw materials. As per the Revenue, decision of Hon'ble Apex Court in the case of CIT v. Mysore Sugar Co. Ltd. (46 ITR 649) relied on by ld. CIT(Appeals) was not applicable on facts. 13. Short facts apropos are that assessee in its Profit and Loss account for the impugned assessment years debited under the head “irrecoverable advances from farmers” ` 39,44,289/- and ` 33,38,074/- respectively. As per the assessee, these amounts were given to farmers for supply of raw…

Afcons Infrastructure Ltd, Mumbai vs. Asst CIT RG 8(1), Mumbai

The appeals of the AO stands dismissed

ITA 7098/MUM/2011[2008-09]Status: DisposedITAT Mumbai02 May 2018AY 2008-09
For Appellant: Shri J.D. Mistry and Shri Nitesh JoshiFor Respondent: Shri Samuel Darse-CIT-DR
Section 14Section 14ASection 254(1)

…grievance is that ld. CIT(Appeals) deleted disallowance of advance write-off made by the assessee. Such advances given to farmers were for supply of raw materials. As per the Revenue, decision of Hon'ble Apex Court in the case of CIT v. Mysore Sugar Co. Ltd. (46 ITR 649) relied on by ld. CIT(Appeals) was not applicable on facts. 13. Short facts apropos are that assessee in its Profit and Loss account for the impugned assessment years debited under the head “irrecoverable advances from farmers” ` 39,44,289/- and ` 33,38,074/- respectively. As per the assessee, these amounts were given to farmers for supply of raw…

J. Thomas & Co. Pvt. Ltd., Kolkata vs. DCIT, Circle-4, Kolkata

In the result, the appeal of the assessee in I

ITA 2071/KOL/2014[2010-2011]Status: DisposedITAT Kolkata01 Nov 2017AY 2010-2011

Bench: Hon’Ble Shri Aby.T.Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A Nos. 2066 /Kol/2014 Assessment Year : 2010-11 Dcit, Circle-4, Kolkata -Vs- M/S J.Thomas & Co. Pvt. Ltd.. [Pan: Aabcj 2851 Q] (Appellant) (Respondent) I.T.A Nos. 2071/Kol/2014 Assessment Year : 2010-11 M/S J.Thomas & Co. Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata [Pan: Aabcj 2851 Q] (Appellant) (Respondent)

For Appellant: Shri David Z. Chowngthu, Addl. CIT(DR)For Respondent: Shri Anup Sinha, ACA
Section 143(3)Section 36(1)(vii)

…re small sundry balances receivable from various tea companies and these were written off as irrecoverable by passing necessary resolutions The assessee relied on the judgment of the Hon'ble Supreme Court in the case of CIT -vs.- Mysore Sugar Company Limited [46 ITR 649(SC)] and by the Hon'ble Madras High Court in the case of Devi Films Private Limited -vs.- CIT [75 ITR 301 (Mad.). Reliance was placed on the judgment of the Hon'ble Supreme Court in the case of CIT -vs.- Abdullabhai Abdulkadar reported in 41 ITR 545. Reliance was also placed on the decision of the Kolkata Bench of this Tribunal in case of DCIT -vs…

DCIT, Circle-4, Kolkata vs. M/S. J. Thomas & Co. Pvt. Ltd., Kolkata

In the result, the appeal of the assessee in I

ITA 2066/KOL/2014[2010-2011]Status: DisposedITAT Kolkata01 Nov 2017AY 2010-2011

Bench: Hon’Ble Shri Aby.T.Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A Nos. 2066 /Kol/2014 Assessment Year : 2010-11 Dcit, Circle-4, Kolkata -Vs- M/S J.Thomas & Co. Pvt. Ltd.. [Pan: Aabcj 2851 Q] (Appellant) (Respondent) I.T.A Nos. 2071/Kol/2014 Assessment Year : 2010-11 M/S J.Thomas & Co. Pvt. Ltd. -Vs- Dcit, Circle-4, Kolkata [Pan: Aabcj 2851 Q] (Appellant) (Respondent)

For Appellant: Shri David Z. Chowngthu, Addl. CIT(DR)For Respondent: Shri Anup Sinha, ACA
Section 143(3)Section 36(1)(vii)

…re small sundry balances receivable from various tea companies and these were written off as irrecoverable by passing necessary resolutions The assessee relied on the judgment of the Hon'ble Supreme Court in the case of CIT -vs.- Mysore Sugar Company Limited [46 ITR 649(SC)] and by the Hon'ble Madras High Court in the case of Devi Films Private Limited -vs.- CIT [75 ITR 301 (Mad.). Reliance was placed on the judgment of the Hon'ble Supreme Court in the case of CIT -vs.- Abdullabhai Abdulkadar reported in 41 ITR 545. Reliance was also placed on the decision of the Kolkata Bench of this Tribunal in case of DCIT -vs…

ACIT, New Delhi vs. Sh. Ashok Mittal, New Delhi

In the result, the appeals filed by the assessee are partly allowed, the

ITA 3743/DEL/2013[2001-02]Status: DisposedITAT Delhi30 Oct 2017AY 2001-02

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri R. C. Dande, Sr.DR
Section 143(3)

…ny and as such is eligible for deduction u/s 37(1) of the I.T. Act. Referring to the said decision, he submitted that the Hon’ble Delhi High Court, relying on the decision of the Hon'ble Supreme Court in the case of CIT vs. Mysore Sugar Co. Ltd. reported in 46 ITR 649 has accepted the plea of the assessee. He submitted that following the aforesaid decisions it has been held that loss of advances in the course of business are eligible for deduction u/s 37 of the I.T. Act. Referring to the decision of the Hon’ble Calcutta High Court in the case of A.W. Figgis and Co. Pvt. Ltd. vs. CIT reported in 254 ITR 63, he…

Sh. Ashok Mittal, New Delhi vs. Addl. CIT, New Delhi

In the result, the appeals filed by the assessee are partly allowed, the

ITA 3307/DEL/2013[2001-02]Status: DisposedITAT Delhi30 Oct 2017AY 2001-02

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri R. C. Dande, Sr.DR
Section 143(3)

…ny and as such is eligible for deduction u/s 37(1) of the I.T. Act. Referring to the said decision, he submitted that the Hon’ble Delhi High Court, relying on the decision of the Hon'ble Supreme Court in the case of CIT vs. Mysore Sugar Co. Ltd. reported in 46 ITR 649 has accepted the plea of the assessee. He submitted that following the aforesaid decisions it has been held that loss of advances in the course of business are eligible for deduction u/s 37 of the I.T. Act. Referring to the decision of the Hon’ble Calcutta High Court in the case of A.W. Figgis and Co. Pvt. Ltd. vs. CIT reported in 254 ITR 63, he…

ACIT, New Delhi vs. M/S. Ashok Mittal, New Delhi

In the result, the appeals filed by the assessee are partly allowed, the

ITA 2997/DEL/2009[2001-02]Status: DisposedITAT Delhi30 Oct 2017AY 2001-02

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri R. C. Dande, Sr.DR
Section 143(3)

…ny and as such is eligible for deduction u/s 37(1) of the I.T. Act. Referring to the said decision, he submitted that the Hon’ble Delhi High Court, relying on the decision of the Hon'ble Supreme Court in the case of CIT vs. Mysore Sugar Co. Ltd. reported in 46 ITR 649 has accepted the plea of the assessee. He submitted that following the aforesaid decisions it has been held that loss of advances in the course of business are eligible for deduction u/s 37 of the I.T. Act. Referring to the decision of the Hon’ble Calcutta High Court in the case of A.W. Figgis and Co. Pvt. Ltd. vs. CIT reported in 254 ITR 63, he…

Ashok Mittal vs. ITO, Ward-24(3)

In the result, the appeals filed by the assessee are partly allowed, the

ITA 3764/DEL/2004[2001-2002]Status: DisposedITAT Delhi30 Oct 2017AY 2001-2002

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri R. C. Dande, Sr.DR
Section 143(3)

…ny and as such is eligible for deduction u/s 37(1) of the I.T. Act. Referring to the said decision, he submitted that the Hon’ble Delhi High Court, relying on the decision of the Hon'ble Supreme Court in the case of CIT vs. Mysore Sugar Co. Ltd. reported in 46 ITR 649 has accepted the plea of the assessee. He submitted that following the aforesaid decisions it has been held that loss of advances in the course of business are eligible for deduction u/s 37 of the I.T. Act. Referring to the decision of the Hon’ble Calcutta High Court in the case of A.W. Figgis and Co. Pvt. Ltd. vs. CIT reported in 254 ITR 63, he…

ACIT, Chennai vs. Green House Promoters Private Ltd., Chennai

In the result, the appeals of the Revenue in ITA Nos

ITA 1828/CHNY/2015[2009-10]Status: DisposedITAT Chennai21 Jun 2017AY 2009-10

Bench: Shri Chandra Poojari & Shri Duvvuru R.L. Reddyआयकर अपील सं./Ita Nos. 1785, 1796 & 1828/Mds/2015 "नधा"रण वष" /Assessment Years :2010-11, 2011-12 & 2009-2010. The Assistant Commissioner Of Income M/S. Green House Promoters Tax Vs. Pvt. Ltd, Company Circle Ii(1) No.4,Rama Rao Street, Chennai. T. Nagar, Chennai 600 017. [Pan Aaccg 2333B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. Supriyo Pal, IRS, JCITFor Respondent: Shri. Y. Sridhar, C.A
Section 194CSection 40Section 4U

…analakshmi Corporation [1962] (46 ITR 1031)(Mad.) also held that the advances made in the course of the normal trading activity, are eligible for write off as bad debts. Further, as held by the Supreme Court in the case of CIT v. Mysore Sugar Co. Ltd. [1962] (46 ITR 649)(SC), to find out whether an expenditure is on the capital account or on the business. Since all payments reduce capital in the ultimate analysis, one is opt to consider a loss as amounting to a loss of capital. But this is not true of all losses, because losses in the running of the business cannot be said to be of capital. The questions to consi…

ACIT, Chennai vs. Green House Promoters Private Ltd., Chennai

In the result, the appeals of the Revenue in ITA Nos

ITA 1796/CHNY/2015[2011-12]Status: DisposedITAT Chennai21 Jun 2017AY 2011-12

Bench: Shri Chandra Poojari & Shri Duvvuru R.L. Reddyआयकर अपील सं./Ita Nos. 1785, 1796 & 1828/Mds/2015 "नधा"रण वष" /Assessment Years :2010-11, 2011-12 & 2009-2010. The Assistant Commissioner Of Income M/S. Green House Promoters Tax Vs. Pvt. Ltd, Company Circle Ii(1) No.4,Rama Rao Street, Chennai. T. Nagar, Chennai 600 017. [Pan Aaccg 2333B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. Supriyo Pal, IRS, JCITFor Respondent: Shri. Y. Sridhar, C.A
Section 194CSection 40Section 4U

…analakshmi Corporation [1962] (46 ITR 1031)(Mad.) also held that the advances made in the course of the normal trading activity, are eligible for write off as bad debts. Further, as held by the Supreme Court in the case of CIT v. Mysore Sugar Co. Ltd. [1962] (46 ITR 649)(SC), to find out whether an expenditure is on the capital account or on the business. Since all payments reduce capital in the ultimate analysis, one is opt to consider a loss as amounting to a loss of capital. But this is not true of all losses, because losses in the running of the business cannot be said to be of capital. The questions to consi…

ACIT, Chennai vs. Green House Promoters P. Ltd., Chennai

In the result, the appeals of the Revenue in ITA Nos

ITA 1785/CHNY/2015[2010-11]Status: DisposedITAT Chennai21 Jun 2017AY 2010-11

Bench: Shri Chandra Poojari & Shri Duvvuru R.L. Reddyआयकर अपील सं./Ita Nos. 1785, 1796 & 1828/Mds/2015 "नधा"रण वष" /Assessment Years :2010-11, 2011-12 & 2009-2010. The Assistant Commissioner Of Income M/S. Green House Promoters Tax Vs. Pvt. Ltd, Company Circle Ii(1) No.4,Rama Rao Street, Chennai. T. Nagar, Chennai 600 017. [Pan Aaccg 2333B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. Supriyo Pal, IRS, JCITFor Respondent: Shri. Y. Sridhar, C.A
Section 194CSection 40Section 4U

…analakshmi Corporation [1962] (46 ITR 1031)(Mad.) also held that the advances made in the course of the normal trading activity, are eligible for write off as bad debts. Further, as held by the Supreme Court in the case of CIT v. Mysore Sugar Co. Ltd. [1962] (46 ITR 649)(SC), to find out whether an expenditure is on the capital account or on the business. Since all payments reduce capital in the ultimate analysis, one is opt to consider a loss as amounting to a loss of capital. But this is not true of all losses, because losses in the running of the business cannot be said to be of capital. The questions to consi…

Rohda Specialtiy Chemicals India Ltd, Mumbai vs. Addl CIT Cir 6(1), Mumbai

Appeal stands dismissed for want of substantial question of law

ITA 830/MUM/2014[2009-10]Status: DisposedITAT Mumbai24 Apr 2017AY 2009-10

Bench: Shri Shamim Yahya & Shri C.N. Prasadita No. 830/Mum/2014 : (A.Y : 2009-10) M/S Rhodia Specialty Chemicals Vs. Addl. Cit – Circle 6(1) India Ltd. (Formerly Known As Room No.511, Aayakar Bhawan M/S Albright & Wilson Chemicals Mk Road India Ltd.), Phoenix House, A Wing New Marine Lines 4Th Floor, 462 Senapati Bapat Marg Mumbai – 400 020 Lower Parel (West) Mumbai – 400 013 Pan : Aaaca3841L Ita No. 622/Mum/2014 : (A.Y : 2009-10) Dcit -7(2) Vs. M/S Rhodia Specialty Chemicals Room No.624, Mk Road India Ltd. (Formerly Known As Mumbai – 400 020 M/S Albright & Wilson Chemicals India Ltd.), Phoenix House, A Wing 4Th Floor, 462 Senapati Bapat Marg Lower Parel (West) Mumbai – 400 013 (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent)

For Appellant: Shri Manish V ShahFor Respondent: Shri Rajguru M
Section 143(3)

…rs, the question of applicability of Section 41 (1) of the Act does not arise. 18. Ld Counsel in support of his above contentions placed reliance on the following cases 1. CIT Vs. Woodward Governor India (P) Ltd. [312 ITR 254] 2. CIT Vs. Mysore Sugar Co-Ltd [46 ITR 649] 3. Sterling Agro Products Processing Pvt. Ltd. Vs. ACIT [48 SOT 80] 19. The Ld. DR on the other hand vehemently supported the orders of the authorities below. 20. We have heard the rival submissions, perused the orders of the authorities below. The Assessing Officer disallowed this amount as the Assessee in the assessment proceedings did not gi…

DCIT 7(2), Mumbai vs. Albright & Wilson Chemicals India Ltd, Mumbai

Appeal stands dismissed for want of substantial question of law

ITA 622/MUM/2014[2009-10]Status: DisposedITAT Mumbai24 Apr 2017AY 2009-10

Bench: Shri Shamim Yahya & Shri C.N. Prasadita No. 830/Mum/2014 : (A.Y : 2009-10) M/S Rhodia Specialty Chemicals Vs. Addl. Cit – Circle 6(1) India Ltd. (Formerly Known As Room No.511, Aayakar Bhawan M/S Albright & Wilson Chemicals Mk Road India Ltd.), Phoenix House, A Wing New Marine Lines 4Th Floor, 462 Senapati Bapat Marg Mumbai – 400 020 Lower Parel (West) Mumbai – 400 013 Pan : Aaaca3841L Ita No. 622/Mum/2014 : (A.Y : 2009-10) Dcit -7(2) Vs. M/S Rhodia Specialty Chemicals Room No.624, Mk Road India Ltd. (Formerly Known As Mumbai – 400 020 M/S Albright & Wilson Chemicals India Ltd.), Phoenix House, A Wing 4Th Floor, 462 Senapati Bapat Marg Lower Parel (West) Mumbai – 400 013 (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent)

For Appellant: Shri Manish V ShahFor Respondent: Shri Rajguru M
Section 143(3)

…rs, the question of applicability of Section 41 (1) of the Act does not arise. 18. Ld Counsel in support of his above contentions placed reliance on the following cases 1. CIT Vs. Woodward Governor India (P) Ltd. [312 ITR 254] 2. CIT Vs. Mysore Sugar Co-Ltd [46 ITR 649] 3. Sterling Agro Products Processing Pvt. Ltd. Vs. ACIT [48 SOT 80] 19. The Ld. DR on the other hand vehemently supported the orders of the authorities below. 20. We have heard the rival submissions, perused the orders of the authorities below. The Assessing Officer disallowed this amount as the Assessee in the assessment proceedings did not gi…

ACIT 8(3), Mumbai vs. Sushrut Surgicals P. Ltd, Mumbai

ITA 6859/MUM/2012[2009-10]Status: DisposedITAT Mumbai24 Mar 2017AY 2009-10
For Appellant: Shri Ruturaj GurjarFor Respondent: Shri Vishwas Munde-CIT-DR
Section 143Section 28Section 36(1)(vii)

…आयकर आयकर अपीलीय आयकर आयकर अपीलीय अपीलीय अिधकरण अपीलीय अिधकरण अिधकरण, मुंबई अिधकरण मुंबई मुंबई “ई” खंडपीठ मुंबई खंडपीठ खंडपीठ मेमेमेमे खंडपीठ Income-tax Appellate Tribunal -“E”Bench Mumbai सव"ी राजे"",लेखा सद"य एवं अमरजीत "सह, "याियक सद"य Before S/Sh.Rajendra,Accountant Member and Amarjit Singh,Judicial Member आयकर अपील सं./I.T.A./6859/Mum/2012,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2009-10 िनधा"रण िनधा"रण वष" वष" ACIT-8(3) M/s. Sushrut Surgicals P.Ltd. Room No.217, Aayakar Bhavan C/o., GPS & Associates (C.A.) M.K. Marg Vs. A-1, Sindhi Niwas, Sitladevi Temple Road Mumbai-400 020. Mumbai-400 016. PAN:AAACS 0…

DCIT, Cir-4, Kolkata vs. M/S J. Thomas & Co. Pvt. Ltd., Kolkata

In the result, the appeal filed by the Revenue is dismissed

ITA 275/KOL/2014[2009-2010]Status: DisposedITAT Kolkata28 Feb 2017AY 2009-2010

Bench: Shri J. Sudhakar Reddy & Shri S.S.Viswanethra Ravi

Section 143(3)

…re small sundry balances receivable from various tea companies and these were written off as irrecoverable by passing necessary resolutions The assessee relied on the judgment of the Hon’ble Supreme Court in the case of CIT –vs.- Mysore Sugar Company Limited [46 ITR 649(SC)] and by the Hon’ble Madras High Court in the case of Devi Films Private Limited –vs.- CIT [75 ITR 301 (Mad.). Reliance was placed on the judgment of the Hon’ble Supreme Court in the case of CIT –vs.- Abdullabhai Abdulkadar reported in 41 ITR 545. Reliance was also placed on the decision of the Kolkata Bench of this Tribunal in case of DCIT –vs…

DCIT, Circle - 11, Kolkata vs. M/S. I M C Ltd, Kolkata

Appeal is dismissed

ITA 371/KOL/2012[2007-08]Status: DisposedITAT Kolkata18 Jan 2017AY 2007-08

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 10(34)Section 115JSection 143(3)Section 14ASection 234B

…1. The appellant has strongly relied upon the decision of the Hon'ble I.T.A.T. for the assessment year 1991-92 in the appellant's own case wherein the Ld. ITAT relying upon the judgement of the Hon'ble Supreme Court in the case of CIT v. Mysore Sugar Co. Ltd.(46 ITR 649 ) held that the write off of trade advances were allowable deduction u/s.28 of the Income Tax Act 1961 since such expenses were incurred in the normal course of business. The details of amount written off have been examined and it is observed that all the advances (now) written off by the appellant company were incidental to the business of the ap…

M/S. Imc Ltd., Kolkata vs. DCIT, Circle - 11, Kolkata

Appeal is dismissed

ITA 813/KOL/2009[2005-06]Status: DisposedITAT Kolkata18 Jan 2017AY 2005-06

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 10(34)Section 115JSection 143(3)Section 14ASection 234B

…1. The appellant has strongly relied upon the decision of the Hon'ble I.T.A.T. for the assessment year 1991-92 in the appellant's own case wherein the Ld. ITAT relying upon the judgement of the Hon'ble Supreme Court in the case of CIT v. Mysore Sugar Co. Ltd.(46 ITR 649 ) held that the write off of trade advances were allowable deduction u/s.28 of the Income Tax Act 1961 since such expenses were incurred in the normal course of business. The details of amount written off have been examined and it is observed that all the advances (now) written off by the appellant company were incidental to the business of the ap…

DCIT, Circle - 11, Kolkata vs. M/S. Imc Ltd., Kolkata

Appeal is dismissed

ITA 781/KOL/2009[2005-06]Status: DisposedITAT Kolkata18 Jan 2017AY 2005-06

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 10(34)Section 115JSection 143(3)Section 14ASection 234B

…1. The appellant has strongly relied upon the decision of the Hon'ble I.T.A.T. for the assessment year 1991-92 in the appellant's own case wherein the Ld. ITAT relying upon the judgement of the Hon'ble Supreme Court in the case of CIT v. Mysore Sugar Co. Ltd.(46 ITR 649 ) held that the write off of trade advances were allowable deduction u/s.28 of the Income Tax Act 1961 since such expenses were incurred in the normal course of business. The details of amount written off have been examined and it is observed that all the advances (now) written off by the appellant company were incidental to the business of the ap…

Binod Kumar Goenka, Kolkata vs. ACIT, Cir-45, Kolkata

In the result, the appeal of the assessee is partly allowed

ITA 1651/KOL/2016[2010-11]Status: DisposedITAT Kolkata02 Dec 2016AY 2010-11

Bench: Shri M. Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm]

For Appellant: Shri A. K. Tibrewal, FCA, Ld. ARFor Respondent: Shri Sallong Yaden, Addl. CIT
Section 133(6)Section 143(3)

…nce placed by the ld. AR on the Coordinate Bench decision in the case of Shree Gouri Shankar Jute Mills Ltd., supra is very well founded which in turn placed reliance on the decision of Hon’ble Supreme Court in CIT Vs. Mysore Sugar Co. Ltd. reported in (1962) 46 ITR 649 (SC) and the decision of 5 Kumar Goenka AY 2010-11 Hon’ble Bombay High Court in the case of Harshad J. Choksi Vs. CIT reported in (2012) 25 Taxmann.com 567 (Bom). 10. Respectfully following the aforesaid decisions and in the facts and circumstances of the case, we hold that the write off of unrealized advance of Rs.2,99,975/- which were given in…

DCIT, Circle -7, Kolkata vs. M/S Delite Properites Pvt. Ltd., Kolkata

In the result, appeal of Revenue stands dismissed and that of assessee is 12

ITA 923/KOL/2012[2005-06]Status: DisposedITAT Kolkata21 Sept 2016AY 2005-06

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “A” KOLKATA Before Shri Waseem Ahmed, Accountant Member and Shri S.S.Viswanethra Ravi, Judicial Member ITA No.830 & 923/Kol/2012 Assessment Years:2005-06 Delite Properties Pvt. Ltd. बनाम DCIT, Circle-7, Circular Court, 9th Floor, Kolkata, P-7, / V/s. Chowringhee Square, 5th 8, AJC Bose Road, Kolkata-700 017 Floor, Room No. 15, [PAN No.AABCD 0241 J] Kolkata-69 DCIT, Circle-7, P-7, M/s Delite properties बनाम Chowringhee Square, 5th Pvt. Ltd., Circular / V/s. Court, 9th Floor, 8 AJC Floor, Room No.15, Kolkata-700 069 Bose Road, Kol-17 .. अपीलाथ" /Appellant ""यथ" /…