CIT v. Nagpur Golden Transport Co.

233 ITR 389High Court1998#10198 most cited
11

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2008 to 2019.

Issues it is cited on

section 254(2)section 254(1)miscellaneous applicationsection 254assistant commissionersection 25

Judgments citing CIT v. Nagpur Golden Transport Co.

SURENDRA ENGINERING CORPORATION,MUMBAI vs. JCIT 17(3), MUMBAI

In the result, appeal stands allowed

ITA 2386/MUM/2017[2012-13]Status: DisposedITAT Mumbai05 Dec 2019AY 2012-13

Bench: Shri Pramod Kumar & Shri Saktijit Dey

For Appellant: Shri Sanjay R. ParikhFor Respondent: Shri V. Vinod Kumar
Section 143(3)Section 2(23)Section 269SSection 271D

…1 ITR 408 (Del.); ii) CIT v/s V. Sivakumar, [2013] 354 ITR 9 (Mad.); iii) CIT v/s Lokhpat Film Exchange (Cinema), [2008] 304 ITR 172 (Raj.); iv) CIT v/s Ajitnath Hi–Tech Builders Pvt. Ltd., [2019] 412 ITR 316 (Bom.); and v) Soundarya Textiles v/s ACIT, [2014] 362 ITR 488 (Ker.). 4. Relying upon the observations of the Assessing Officer and learned Commissioner (Appeals) the learned Departmental Representative submitted, the assessee was unable to demonstrate the business exigencies for availing the cash loan. Therefore, the assessee having violated the provisions of section 269SS of the Act, imposition of penalt…

SMT ANITA HATI,KOLKATA vs. JCIT, RG-1, KOLKATA, HOOGHLY

In the result, the appeal of the assessee is allowed

ITA 921/KOL/2015[2009-2010]Status: DisposedITAT Kolkata20 Sept 2017AY 2009-2010
Section 269SSection 269TSection 271E

….W. Figgies & Co (1953) 241 ITR 405 has held that partners of firm are distinct as a civil entities, while firm as such is a separate & distinct until for the purpose of assessment. Further in the following judgments. CIT vs Nagpur Golden Transport Co. (1998) 233 ITR 389 (Delhi) and Soundanya Textile vs Asst CIT (2004) 362 ITR 488 it has been held that firm & its partners are separate legal entities for the purpose of this Act.” Aggrieved by the order of the Ld. CIT (A), the assessee has preferred this appeal before the Tribunal. 4 I.T.A. No. 921/Kol/2015 Assessment Year: 2009 -10 Smt. Anita Hati 5. The lear…

SMT PARINITA HATI CHOWDHURY,KOLKATA vs. JCIT, RG-1, HOOGHLY, HOOGHLY

In the result, the appeal of the assessee is treated as allowed

ITA 920/KOL/2015[2009-2010]Status: DisposedITAT Kolkata20 Sept 2017AY 2009-2010

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A. No. 920/Kol/2015 Assessment Year: 2009-10 Smt. Parinita Hati Chowdhury.............................……………………………………………Appellant C/O. V.N. Purohit & Co. Chartered Accountants, Diamond Chambers Unit Iii, 4Th Floor, Suit No. 4G 4, Chowringhee Lane Kolkata - 700016 [Pan : Adlpr2179P] J.C.I.T., Range-1………………………………………………................................................Respondent Aayakar Bhawan, Khadinamore G.T. Road, P.O. Chinsurah Hooghly - 712101 Appearances By: Shri V.N. Purohit, Fca Appearing On Behalf Of The Assessee. Shri Kalyan Nath, Addl. Cit Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : September 11, 2017 Date Of Pronouncing The Order : September 20, 2017 Order Per P.M. Jagtap, Am This Appeal Filed By The Assessee Is Directed Against The Order Of Ld. Cit (Appeals) – 6, Kolkata Dated 10.03.2015 Whereby He Confirmed The Penalty Of Rs. 53,000/- Imposed By The Ao Under Section 271E Of The Income Tax Act, 1961. 2. The Assessee In The Present Case Is An Individual Who Is Partner In The Partnership Firm Of M/S. S. Hati. As Noticed By The Ao During The Course Of Assessment Proceedings Of The Said Firm For A.Y. 2009-10, Loan Of Rs. 53,000/- Taken By The Assessee From The Said Firm Was Repaid In Cash. Since There Was A Violation Of Section 269T Of The Act

Section 269SSection 269TSection 271E

….W. Figgies & Co (1953) 241 ITR 405 has held that partners of firm are distinct as a civil entities, while firm as such is a separate & distinct until for the purpose of assessment. Further in the following judgments. CIT vs Nagpur Golden Transport Co. (1998) 233 ITR 389 (Delhi) and Soundanya Textile vs Asst CIT (2004) 362 ITR 488 it has been held that firm & its partners are separate legal entities for the purpose of this Act.” Aggrieved by the order of the Ld. CIT (A), the assessee has preferred this appeal before the Tribunal. 4 I.T.A. No. 920/Kol/2015 Assessment Year: 2009 -10 Smt. Parinita Hati Chowdhur…

PREMESHWAR CREATIONS P. LTD,MUMBAI vs. DCIT 8(2), MUMBAI

The appeal of the assessee is disposed of in terms indicated hereinabove

ITA 6852/MUM/2014[2011-12]Status: DisposedITAT Mumbai21 Dec 2016AY 2011-12

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2011-12 M/S Permeshwar Creations Dcit-8(2), Pvt. Ltd. Room No.209, बनाम/ Plot No.52, 7Th Floor, Aayakar Bhavan, Vs. Midc Marol, M.K. Road, Andheri(E), Churchgate, Mumbai-400093 Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aadcp3517F

Section 32

…the original owner. The assessee was held to be the owner of the asset concern. In another decision following the decision from Delhi High Court in Addl. CIT vs General Industries Corporation (1985) 155 ITR 430 (Del.) in CIT vs Nagpur Golden Transport Company 233 ITR 389, 390 (Del.), it was held that the assessee was entitled to get depreciation on trucks purchased by it on higher purchase basis. 7 M/s Permeshwar Creations Pvt. Ltd. 2.4. In the present appeal, there is no dispute to the fact that the motor car was used by the Directors for business purposes of the assessee company, the capital assets/motor cars…

COMMISSIONER OF INCOME TAX NEW DELHI vs. M/S MUTHOOT FINANCIERS,NEW DELHI.

ITA - 336 / 2002HC Delhi03 Feb 2015
Section 148Section 260Section 269Section 271

…urpose of the Act and the amount advanced is a loan and further the amount being over Rs. 20000/- could not have been given in cash. He relied upon the judgment of this Court in the case of Commissioner of Income Tax Vs. Nagpur Golden Transport Co., [1998] 233 ITR 389 (Delhi) and Soundarya Textiles Vs. Assistant Commissioner of Income Tax, [2014] 362 ITR 488 (Ker) in support of his contentions. 8. On the other hand, Mr.Rajat Navei, Advocate appearing for the respondent-assessees in these appeals would contend that the amount advanced being from a partner to the firm cannot be regarded as a loan but, i…

C.I.T vs. V.L.S.FINANCE LTD

The appeals are dismissed

ITA/1149/2008HC Delhi16 Oct 2008

Bench: HON'BLE MR. JUSTICE BADAR DURREZ AHMED,HON'BLE MR. JUSTICE RAJIV SHAKDHER

For Appellant: Mr R.D. JollyFor Respondent: Mr O.S. Bajpai
Section 254Section 254(1)Section 254(2)

…ITA Nos.1149/08, 1221/08 & 1148/08 Page No.1 of 5 THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 16.10.2008 + ITA 1149/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent WITH + ITA 1221/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent AND + ITA 1148/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED…

C.I.T vs. V.L.S.FINANCE LTD

The appeals are dismissed

ITA/1221/2008HC Delhi16 Oct 2008

Bench: HON'BLE MR. JUSTICE BADAR DURREZ AHMED,HON'BLE MR. JUSTICE RAJIV SHAKDHER

For Appellant: Mr R.D. JollyFor Respondent: Mr O.S. Bajpai
Section 254Section 254(1)Section 254(2)

…ITA Nos.1149/08, 1221/08 & 1148/08 Page No.1 of 5 THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 16.10.2008 + ITA 1149/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent WITH + ITA 1221/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent AND + ITA 1148/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED…

C.I.T vs. V.L.S.FINANCE LTD

The appeals are dismissed

ITA/1148/2008HC Delhi16 Oct 2008

Bench: HON'BLE MR. JUSTICE BADAR DURREZ AHMED,HON'BLE MR. JUSTICE RAJIV SHAKDHER

For Appellant: Mr R.D. JollyFor Respondent: Mr O.S. Bajpai
Section 254Section 254(1)Section 254(2)

…ITA Nos.1149/08, 1221/08 & 1148/08 Page No.1 of 5 THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 16.10.2008 + ITA 1149/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent WITH + ITA 1221/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent AND + ITA 1148/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED…

C.I.T vs. V.L.S.FINANCE LTD

The appeals are dismissed

ITA - 1148 / 2008HC Delhi16 Oct 2008

Bench: This Court Being Ita Nos. 115/2006, 125/2006 & 129/2006 Which Had Been Admitted For Hearing. However, The Present Appeals Arise Out Of The Said Order Dated 15 02 2008 H B Th ‟ Tifi Ti Li Ti D 2008:Dhc:2851-Db

Section 254Section 254(1)Section 254(2)

…THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 16.10.2008 + ITA 1149/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent WITH + ITA 1221/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent AND + ITA 1148/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent Advocates who appeared in t…

C.I.T vs. V.L.S.FINANCE LTD

The appeals are dismissed

ITA - 1221 / 2008HC Delhi16 Oct 2008

Bench: This Court Being Ita Nos. 115/2006, 125/2006 & 129/2006 Which Had Been Admitted For Hearing. However, The Present Appeals Arise Out Of The Said Order Dated 15 02 2008 H B Th ‟ Tifi Ti Li Ti D 2008:Dhc:2849-Db

Section 254Section 254(1)Section 254(2)

…THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 16.10.2008 + ITA 1149/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent WITH + ITA 1221/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent AND + ITA 1148/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent Advocates who appeared in t…

C.I.T vs. V.L.S.FINANCE LTD

The appeals are dismissed

ITA - 1149 / 2008HC Delhi16 Oct 2008

Bench: This Court Being Ita Nos. 115/2006, 125/2006 & 129/2006 Which Had Been Admitted For Hearing. However, The Present Appeals Arise Out Of The Said Order Dated 15 02 2008 H B Th ‟ Tifi Ti Li Ti D 2008:Dhc:2848-Db

Section 254Section 254(1)Section 254(2)

…THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 16.10.2008 + ITA 1149/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent WITH + ITA 1221/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent AND + ITA 1148/2008 THE COMMISSIONER OF INCOME TAX DELHI (CENTRAL)-II ... Appellant - versus – V.L.S. FINANCE LIMITED ... Respondent Advocates who appeared in t…