CIT v. Nitin S. Garg

208 Taxmann 16High Court2012#2485 most cited

What is CIT v. Nitin S. Garg authority for?

A trading liability acknowledged and continued to be shown in the balance sheet cannot be treated as cessation of liability under Section 41(1) merely because it remained outstanding for several years, unless the assessee has written it off in its books. The Assessing Officer must prove that the assessee obtained a benefit.

47

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. Nitin S. Garg · Section 41(1) · cessation of trading liability · sundry creditors · outstanding liabilities · acknowledgement of liability · balance sheet · written off · Assessing Officer onus

Also reported as

22 Taxmann.com 59

Sections most often in play

Section 133(6)Section 143(3)Section 41(1)Section 142(1)Section 68Section 133ASection 1961Section 69C
Read the full judgment

Issues it is cited on

section 24(1)remission or cessation of liabilitytrade creditorssection 41(1)section 41percentage completion methodsundry creditorssection 40a(2)(b)section 40a(2)section 36(1)(vii)commercial expediencydisallowance of interest expenditure

Judgments citing CIT v. Nitin S. Garg

The DCIT, Circle-1(1)(1), Ahmedabad vs. Aagam Infrabuild Pvt. Ltd., Ahmedabad

In the result, Revenue’s appeal stands dismissed

ITA 1762/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad25 May 2018AY 2012-13

Bench: Shri N.K. Billaiya & Ms. Madhumita Royआयकर अपील सं./I.T.A. No.1762/Ahd/2016 ("नधा"रण वष" / Assessment Year : 2012-13)

For Appellant: Shri V.K. Singh, Sr.DRFor Respondent: -None-

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘डी’, अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “ D ” BENCH, AHMEDABAD सम" "ी एन.के."ब"लैया, लेखा सद"य एवं सु"ी मधु"मता रॉय, "या"यक सद"य । BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER & Ms. MADHUMITA ROY, JUDICIAL MEMBER आयकर अपील सं./I.T.A. No.1762/Ahd/2016 ("नधा"रण वष" / Assessment Year : 2012-13) The DCIT Aagam Infrabuild Pvt.Ltd. बनाम/ Circle-1(1)(1) 9,Amul Society Vs. Ahmedabad Nr.Shardamandir Road Sukhipura, Paldi Ahmedabad "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAICA 8530 G .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से / Appellant by : Shri V.K…

DCIT, Cir-10(2), Kolkata vs. M/S Sonodyne Television Co. Ltd., Kolkata

In the result, Revenue’s appeal stands dismissed

ITA 330/KOL/2016[2011-2012]Status: DisposedITAT Kolkata31 Jan 2018AY 2011-2012

Bench: Hon’Ble Shri Waseem Ahmed, Am & Hon’Ble Shri S.S.Viswanethra Ravi, Jm] I.T.A No. 330/Kol/2016 Assessment Year :2011-12 Dcit, Circle-10(2), Kolkata -Vs- M/S Sonodyne Television Co. Ltd. [Pan: Aaecs 7096 R] (Appellant) (Respondent)

For Appellant: Shri Arindam Bhattacharjee, Addl.CITFor Respondent: Shri Anup Sinha
Section 143(3)Section 41(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH : KOLKATA [Before Hon’ble Shri Waseem Ahmed, AM & Hon’ble Shri S.S.Viswanethra Ravi, JM] I.T.A No. 330/Kol/2016 Assessment Year :2011-12 DCIT, Circle-10(2), Kolkata -vs- M/s Sonodyne Television Co. Ltd. [PAN: AAECS 7096 R] (Appellant) (Respondent) For the Appellant : Shri Arindam Bhattacharjee, Addl.CIT For the Respondent : Shri Anup Sinha Date of Hearing : 01.01.2018 Date of Pronouncement : 31.01.2018 ORDER Per Waseem Ahmed, AM This appeal by the Revenue arises out of the order of the Learned Commissioner of Income Tax(Appeals)-4, Kolkata [in short the…

Banarasi Holding Pvt. Ltd., Kolkata vs. ITO, Ward-13(1), Kolkata

In the result, assessee’s appeal in ITA No

ITA 1521/KOL/2016[2010-11]Status: DisposedITAT Kolkata13 Jan 2017AY 2010-11

Bench: Shri S.S.Viswanethra Ravi & Shri Dr.A.L.Saini

Section 143(1)Section 144Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “D” KOLKATA Before Shri S.S.Viswanethra Ravi, Judicial Member and Shri Dr.A.L.Saini, Accountant Member ITA No.1520-1521/Kol/2016 Assessment Years :2004-05 & 2010-11 Banarasi Holding Pvt. V/s. ITO, Ward-13(1), Ltd., P-3, New CIT Aaykar Bhawan, Road, Kolkata-700 073 Poorva, 110, Shanti [PAN No.AABCB 4048 Pally, Kolkata-107 H] .. अपीलाथ" /Appellant ""यथ"/Respondent आवेदक/ क" ओर से /By Assessee Shri Manish Tiwari, FCA Md. Ghayas Uddin, JCIT-DR राज"व क" ओर से/By Respondent सुनवाई क" तार"ख/Date of Hearing 04-01-2017 घोषणा क" तार"ख/Date 13-01-2017 of Pronouncement…

Banarasi Holding Pvt. Ltd., Kolkata vs. ITO, Ward-13(1), Kolkata

In the result, assessee’s appeal in ITA No

ITA 1520/KOL/2016[2004-05]Status: DisposedITAT Kolkata13 Jan 2017AY 2004-05

Bench: Shri S.S.Viswanethra Ravi & Shri Dr.A.L.Saini

Section 143(1)Section 144Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “D” KOLKATA Before Shri S.S.Viswanethra Ravi, Judicial Member and Shri Dr.A.L.Saini, Accountant Member ITA No.1520-1521/Kol/2016 Assessment Years :2004-05 & 2010-11 Banarasi Holding Pvt. V/s. ITO, Ward-13(1), Ltd., P-3, New CIT Aaykar Bhawan, Road, Kolkata-700 073 Poorva, 110, Shanti [PAN No.AABCB 4048 Pally, Kolkata-107 H] .. अपीलाथ" /Appellant ""यथ"/Respondent आवेदक/ क" ओर से /By Assessee Shri Manish Tiwari, FCA Md. Ghayas Uddin, JCIT-DR राज"व क" ओर से/By Respondent सुनवाई क" तार"ख/Date of Hearing 04-01-2017 घोषणा क" तार"ख/Date 13-01-2017 of Pronouncement…

Smt. Sucharita Kar, Kolkata vs. ITO, Ward-55(1), Kolkata

In the result, the appeal of assessee is partly allowed

ITA 2239/KOL/2014[2010-2011]Status: DisposedITAT Kolkata14 Dec 2016AY 2010-2011

Bench: Shri M.Balaganesh & Shri S.S.Viswanethra Ravi

Section 143(2)Section 37(1)Section 40Section 41Section 41(1)Section 56(2)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL,‘D’ BENCH KOLKATA Before Shri M.Balaganesh, Accountant Member and Shri S.S.Viswanethra Ravi, Judicial Member I.T.A. No. 2239/KOL/2014 A.Y: 2010-11 Smt. Sucharita Kar Vs. I.T.O., Ward 55(1), Kolkata PAN: AFNPK5288G (Appellant) (Respondent) Appearances by: Shri V.N Dutta, Advocate, AR for the assessee Shri P.B. Pramanick, JCIT, Sr.DR for the revenue Date of hearing : 03-11-2016 Date of pronouncement : 14-12-2016 O R D E R Shri S.S. Viswanethra Ravi, JM :- This appeal by the assessee is directed against the order dated 30-09-2014 passed by the Commissioner of Inco…

ITO 2(3)(3), Mumbai vs. Sterlite Paper Ltd ( Sterlite Infra Ltd), Mumbai

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

ITA 4056/MUM/2012[2008-09]Status: DisposedITAT Mumbai22 Jun 2016AY 2008-09

Bench: Shri B.R.Baskaran, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.3865/Mum/2012 ("नधा"रण वष" / Assessment Year: 2008-09) M/S. Sterlite Infra Ltd. Income Tax Officer 2(3)(3) बनाम/ (Earlier Known As Sterlite Aayakar Bhawan, M.K.Road, Vs. Paper Ltd.) Mumbai - 400020 No.1, Sai Flats No.55, Pillayar Koil Street, Kangam Tharamani, Chennai - 600113 आयकर अपील सं/ I.T.A. No.4056/M/12 ("नधा"रण वष" / Assessment Year: 2008-09) Acit 2(3) बनाम/ M/S. Sterlite Infra Ltd. R.No.552, 5Th Floor, (Earlier Known As Sterlite Vs. Aayakar Bhavan, M. K.Road, Paper Ltd.) Mumbai - 400020 Khautau Bldg, 2Nd Floor, Sbs Road, Bank St., Fort, Mumbai - 400023 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aafcs1424A

For Appellant: Shri Vimal PunmiyaFor Respondent: Shri Chandrajit Singh
Section 142(1)Section 143(1)Section 41(1)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ ‘ई’ मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI "ी बी. आर. बा"करन, लेखा सद"य, एवं "ी अमरजीत "संह, "या"यक सद"य, के सम" BEFORE SHRI B.R.BASKARAN, AM AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. No.3865/MUM/2012 ("नधा"रण वष" / Assessment Year: 2008-09) M/s. Sterlite Infra Ltd. Income Tax Officer 2(3)(3) बनाम/ (Earlier known as Sterlite Aayakar Bhawan, M.K.Road, Vs. Paper Ltd.) Mumbai - 400020 No.1, Sai Flats No.55, Pillayar Koil Street, Kangam Tharamani, Chennai - 600113 आयकर अपील सं/ I.T.A. No.4056/M/12 ("नधा"रण वष" / Assessment Year: 2008-09) ACIT 2(3) बनाम/ M/…

Sterlite Infra Ltd (Earlier Known As Sterlite Paper Ltd), Chennai vs. ITO 2(3)(3), Mumbai

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

ITA 3865/MUM/2012[2008-09]Status: DisposedITAT Mumbai22 Jun 2016AY 2008-09

Bench: Shri B.R.Baskaran, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.3865/Mum/2012 ("नधा"रण वष" / Assessment Year: 2008-09) M/S. Sterlite Infra Ltd. Income Tax Officer 2(3)(3) बनाम/ (Earlier Known As Sterlite Aayakar Bhawan, M.K.Road, Vs. Paper Ltd.) Mumbai - 400020 No.1, Sai Flats No.55, Pillayar Koil Street, Kangam Tharamani, Chennai - 600113 आयकर अपील सं/ I.T.A. No.4056/M/12 ("नधा"रण वष" / Assessment Year: 2008-09) Acit 2(3) बनाम/ M/S. Sterlite Infra Ltd. R.No.552, 5Th Floor, (Earlier Known As Sterlite Vs. Aayakar Bhavan, M. K.Road, Paper Ltd.) Mumbai - 400020 Khautau Bldg, 2Nd Floor, Sbs Road, Bank St., Fort, Mumbai - 400023 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aafcs1424A

For Appellant: Shri Vimal PunmiyaFor Respondent: Shri Chandrajit Singh
Section 142(1)Section 143(1)Section 41(1)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ ‘ई’ मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI "ी बी. आर. बा"करन, लेखा सद"य, एवं "ी अमरजीत "संह, "या"यक सद"य, के सम" BEFORE SHRI B.R.BASKARAN, AM AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. No.3865/MUM/2012 ("नधा"रण वष" / Assessment Year: 2008-09) M/s. Sterlite Infra Ltd. Income Tax Officer 2(3)(3) बनाम/ (Earlier known as Sterlite Aayakar Bhawan, M.K.Road, Vs. Paper Ltd.) Mumbai - 400020 No.1, Sai Flats No.55, Pillayar Koil Street, Kangam Tharamani, Chennai - 600113 आयकर अपील सं/ I.T.A. No.4056/M/12 ("नधा"रण वष" / Assessment Year: 2008-09) ACIT 2(3) बनाम/ M/…