CIT v. Premchand Jute Mills Ltd.

164 ITR 288High Court1987#15081 most cited
6

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2020.

Judgments citing CIT v. Premchand Jute Mills 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)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Chandra Poojari, AM & Shri George George K, JM ITA No.84/Coch/2020 : Asst.Year 2014-2015 The Asst.Commissioner of M/s.PTL Enterprises Ltd. Income-tax, Circle 2(1) Vs. 3rd Floor, Areekal Mansion Kochi. Panampilly Nagar Ernakulam – 682 036. PAN : AABCP3839N. (Appellant) (Respondent) Appellant by : Sri.Mritunjaya Sharma, CIT-DR Respondent by : S/Sri.Joseph Marcose, Sr.Advocate & Abraham Joseph Marcose Date of Pronouncement : 06.07.2020 Date of Hearing : 06.07.2020 O R D E R Per George George K, JM This appeal at the instance of the Reven…

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)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Chandra Poojari, AM & Shri George George K, JM ITA No.160/Coch/2017 : Asst.Year 2011-2012 ITA No.161/Coch/2017 : Asst.Year 2012-2013 ITA No.162/Coch/2017 : Asst.Year 2013-2014 The Asst.Commissioner of M/s.PTL Enterprises Ltd. Income-tax, Circle 2(1) Vs. 6th Floor, Cherupushpam Kochi. Building, Shanmugham Road, Kochi – 682 031. PAN : AABCP3839N. (Appellant) (Respondent) Appellant by : Sri.Alok Mitra Respondent by : Sri.Abraham Joseph Markose Date of Pronouncement : 06.05.2019 Date of Hearing : 01.05.2018 O R D E R Per George George K, JM…

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)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Chandra Poojari, AM & Shri George George K, JM ITA No.160/Coch/2017 : Asst.Year 2011-2012 ITA No.161/Coch/2017 : Asst.Year 2012-2013 ITA No.162/Coch/2017 : Asst.Year 2013-2014 The Asst.Commissioner of M/s.PTL Enterprises Ltd. Income-tax, Circle 2(1) Vs. 6th Floor, Cherupushpam Kochi. Building, Shanmugham Road, Kochi – 682 031. PAN : AABCP3839N. (Appellant) (Respondent) Appellant by : Sri.Alok Mitra Respondent by : Sri.Abraham Joseph Markose Date of Pronouncement : 06.05.2019 Date of Hearing : 01.05.2018 O R D E R Per George George K, JM…

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)

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Chandra Poojari, AM & Shri George George K, JM ITA No.160/Coch/2017 : Asst.Year 2011-2012 ITA No.161/Coch/2017 : Asst.Year 2012-2013 ITA No.162/Coch/2017 : Asst.Year 2013-2014 The Asst.Commissioner of M/s.PTL Enterprises Ltd. Income-tax, Circle 2(1) Vs. 6th Floor, Cherupushpam Kochi. Building, Shanmugham Road, Kochi – 682 031. PAN : AABCP3839N. (Appellant) (Respondent) Appellant by : Sri.Alok Mitra Respondent by : Sri.Abraham Joseph Markose Date of Pronouncement : 06.05.2019 Date of Hearing : 01.05.2018 O R D E R Per George George K, JM…

MS. SAI ASTHA EXPORTS PVT. LTD.,,NEW DELHI vs. ITO, NEW DELHI

In the result, both the appeals filed by the assessee stand allowed

ITA 4033/DEL/2016[2014-15]Status: DisposedITAT Delhi25 Oct 2016AY 2014-15

Bench: Shri H.S. Sidhu

For Appellant: Sh. Ramesh Goyal, CAFor Respondent: Sh. F.R. Meena, Sr. DR
Section 142(1)Section 143(2)Section 144Section 71

…means that in the following year the assessee need not carryon any business or profession for availing of benefits of sub-section (2) of section 32. The jurisdictional High Court in the case of CIT v. Premchand Jute Mills Ltd. [1986] 56 CTR (Cal.) 225/[1987] 164 ITR 288 (Cal.) has observed that the assessee was held entitled to set off the unabsorbed depreciation pertaining to the assets of the business carried out in earlier years against income from letting out such assets even though such income was assessable as income from other sources. We have further observed that the Hon'ble Supreme Court in the case of…

MS. SAI ASTHA EXPORTS PVT. LTD.,,NEW DELHI vs. ITO, NEW DELHI

In the result, both the appeals filed by the assessee stand allowed

ITA 4032/DEL/2016[2012-13]Status: DisposedITAT Delhi25 Oct 2016AY 2012-13

Bench: Shri H.S. Sidhu

For Appellant: Sh. Ramesh Goyal, CAFor Respondent: Sh. F.R. Meena, Sr. DR
Section 142(1)Section 143(2)Section 144Section 71

…means that in the following year the assessee need not carryon any business or profession for availing of benefits of sub-section (2) of section 32. The jurisdictional High Court in the case of CIT v. Premchand Jute Mills Ltd. [1986] 56 CTR (Cal.) 225/[1987] 164 ITR 288 (Cal.) has observed that the assessee was held entitled to set off the unabsorbed depreciation pertaining to the assets of the business carried out in earlier years against income from letting out such assets even though such income was assessable as income from other sources. We have further observed that the Hon'ble Supreme Court in the case of…

CIT v. Premchand Jute Mills Ltd. (164 ITR 288) — Cited in 6 Judgments | BharatTax