CIT v. Mysore Wine Products Ltd.

370 ITR 102High Court#20755 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2019 to 2020.

Judgments citing CIT v. Mysore Wine Products Ltd.

THE ACIT, COCHIN vs. M/S.PTL ENTERPRISES LTD, COCHIN

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

ITA 84/COCH/2020[2014-15]Status: DisposedITAT Cochin06 Jul 2020AY 2014-15

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.Mritunjaya Sharma, CIT-DRFor Respondent: S/Sri.Joseph Marcose, Sr.Advocate &
Section 56(2)(ii)

…the Company from letting out the machinery was only rental income. There was never any act indicating that the company never 16 M/s.PTL Enterprises Limited. intended to carry on the business in the future. Also in the case of CIT v. Mysore Wine Products Ltd. 370 ITR 102 (Kar), it was concluded as under: “In such circumstances, the income derived by way of lease rent from the letting out of its assets was assessable to tax under the head “Profit and gains of business”. Whether a particular income is income from business or from investment must be decided according to the general commonsense view of those who dea…

THE ACIT, COCHIN vs. M/S.PTL ENTERPRISES LTD, COCHIN

In the result, the appeals filed by the Revenue are dismissed

ITA 162/COCH/2017[2013-14]Status: DisposedITAT Cochin06 May 2019AY 2013-14

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.Alok MitraFor Respondent: Sri.Abraham Joseph Markose
Section 56(2)(ii)

…ied on and the income derived by the Company from letting out the machinery was only rental income. There was never any act indicating that the company never intended to carry on the business in the future. Also in the case of CIT v. Mysore Wine Products Ltd. 370 ITR 102 (Kar), it was concluded as under: “In such circumstances, the income derived by way of lease rent from the letting out of its assets was assessable to tax under the head “Profit and gains of business”. Whether a particular income is income from business or from investment must be decided according to the general commonsense view of those who dea…

THE ACIT, COCHIN vs. M/S.PTL ENTERPRISES LTD, COCHIN

In the result, the appeals filed by the Revenue are dismissed

ITA 161/COCH/2017[2012-13]Status: DisposedITAT Cochin06 May 2019AY 2012-13

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.Alok MitraFor Respondent: Sri.Abraham Joseph Markose
Section 56(2)(ii)

…ied on and the income derived by the Company from letting out the machinery was only rental income. There was never any act indicating that the company never intended to carry on the business in the future. Also in the case of CIT v. Mysore Wine Products Ltd. 370 ITR 102 (Kar), it was concluded as under: “In such circumstances, the income derived by way of lease rent from the letting out of its assets was assessable to tax under the head “Profit and gains of business”. Whether a particular income is income from business or from investment must be decided according to the general commonsense view of those who dea…

THE ACIT, COCHIN vs. M/S.PTL ENTERPRISES LTD, COCHIN

In the result, the appeals filed by the Revenue are dismissed

ITA 160/COCH/2017[2011-12]Status: DisposedITAT Cochin06 May 2019AY 2011-12

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.Alok MitraFor Respondent: Sri.Abraham Joseph Markose
Section 56(2)(ii)

…ied on and the income derived by the Company from letting out the machinery was only rental income. There was never any act indicating that the company never intended to carry on the business in the future. Also in the case of CIT v. Mysore Wine Products Ltd. 370 ITR 102 (Kar), it was concluded as under: “In such circumstances, the income derived by way of lease rent from the letting out of its assets was assessable to tax under the head “Profit and gains of business”. Whether a particular income is income from business or from investment must be decided according to the general commonsense view of those who dea…

CIT v. Mysore Wine Products Ltd. (370 ITR 102) — Cited in 4 Judgments | BharatTax