CIT v. Pullangode Rubber Produce Company Limited

189 ITR 580High Court1992#14544 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2017 to 2021.

Also reported as

62 Taxmann 298

Judgments citing CIT v. Pullangode Rubber Produce Company Limited

Tata Coffee Limited, Bangalore vs. DCIT, Bangalore

In the result, the appeal of the assessee is partly allowed, while the appeal by the department is dismissed

ITA 647/BANG/2016[2011-12]Status: DisposedITAT Bangalore29 Nov 2021AY 2011-12

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri K.R. Vasudevan, AdvocateFor Respondent: Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bangalore
Section 143(3)Section 92

…-4-1981. In respect of Eucalyptus and other trees 70% of the sale consideration was considered as the cost of acquisition based on the decision rendered by Hon'ble Kerala High Court in the case of CIT v. Pullangode Rubber Produce Co. Ltd. [1992] 62 Taxman 298/189 ITR 580. Accordingly, the assessee declared a capital loss of Rs. 30.67 lakhs. The A.O. took the view that the activities carried on by the assessee in nurturing/growing and selling of trees is normal business activities of the assessee. Accordingly, the AO took the view that the gain arising on sale of trees should be assessed as normal business income.…

DCIT, Bangalore vs. M/S Tata Coffee Pvt. Ltd., Bangalore

In the result, the appeal of the assessee is partly allowed, while the appeal by the department is dismissed

ITA 560/BANG/2016[2011-12]Status: DisposedITAT Bangalore29 Nov 2021AY 2011-12

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri K.R. Vasudevan, AdvocateFor Respondent: Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bangalore
Section 143(3)Section 92

…-4-1981. In respect of Eucalyptus and other trees 70% of the sale consideration was considered as the cost of acquisition based on the decision rendered by Hon'ble Kerala High Court in the case of CIT v. Pullangode Rubber Produce Co. Ltd. [1992] 62 Taxman 298/189 ITR 580. Accordingly, the assessee declared a capital loss of Rs. 30.67 lakhs. The A.O. took the view that the activities carried on by the assessee in nurturing/growing and selling of trees is normal business activities of the assessee. Accordingly, the AO took the view that the gain arising on sale of trees should be assessed as normal business income.…

Tata Coffee Limited, Bangalore vs. DCIT, Bangalore

In the result, the appeal of the assessee in IT(TP)A No

ITA 729/BANG/2015[2010-11]Status: DisposedITAT Bangalore22 Mar 2021AY 2010-11

Bench: Shri B. R. Baskaran & Smt. Beena Pillai

For Appellant: Shri K.R. Vasudevan, A.RFor Respondent: Shri Muzaffar Hussain, D.R
Section 14A

…air market value as on 1.4.1981. In respect of Eucalyptus and other trees 70% of the sale consideration was considered as the cost of acquisition based on the decision rendered by Hon’ble Kerala High Court in the case of Pullangode Rubber Produce Company Ltd. 189 ITR 580. Accordingly, the assessee declared a capital loss of Rs.30.67 lakhs. The A.O. took the view that the activities carried on by the assessee in nurturing/growing and selling of trees is normal business activities of the assessee. Accordingly, the AO took the view that the gain arising on sale of trees should be assessed as normal business income.…

Tata Coffee Limited, Bangalore vs. DCIT, Bangalore

In the result, the appeal of the assessee in IT(TP)A No

ITA 568/BANG/2015[2010-11]Status: DisposedITAT Bangalore22 Mar 2021AY 2010-11

Bench: Shri B. R. Baskaran & Smt. Beena Pillai

For Appellant: Shri K.R. Vasudevan, A.RFor Respondent: Shri Muzaffar Hussain, D.R
Section 14A

…air market value as on 1.4.1981. In respect of Eucalyptus and other trees 70% of the sale consideration was considered as the cost of acquisition based on the decision rendered by Hon’ble Kerala High Court in the case of Pullangode Rubber Produce Company Ltd. 189 ITR 580. Accordingly, the assessee declared a capital loss of Rs.30.67 lakhs. The A.O. took the view that the activities carried on by the assessee in nurturing/growing and selling of trees is normal business activities of the assessee. Accordingly, the AO took the view that the gain arising on sale of trees should be assessed as normal business income.…

DCIT, Bangalore vs. M/S Tata Coffee Limited, Bangalore

In the result, the appeal of the assessee in IT(TP)A No

ITA 190/BANG/2015[2010-11]Status: DisposedITAT Bangalore22 Mar 2021AY 2010-11

Bench: Shri B. R. Baskaran & Smt. Beena Pillai

For Appellant: Shri K.R. Vasudevan, A.RFor Respondent: Shri Muzaffar Hussain, D.R
Section 14A

…air market value as on 1.4.1981. In respect of Eucalyptus and other trees 70% of the sale consideration was considered as the cost of acquisition based on the decision rendered by Hon’ble Kerala High Court in the case of Pullangode Rubber Produce Company Ltd. 189 ITR 580. Accordingly, the assessee declared a capital loss of Rs.30.67 lakhs. The A.O. took the view that the activities carried on by the assessee in nurturing/growing and selling of trees is normal business activities of the assessee. Accordingly, the AO took the view that the gain arising on sale of trees should be assessed as normal business income.…

Housing and Urban Development Corporation Ltd Through Its Authorized Signatory vs. Additional Commissioner of Income Tax Range 12 New Delhi

The appeal is allowed

ITA/541/2019HC Delhi06 Feb 2020

Bench: HON'BLE MR. JUSTICE VIPIN SANGHI,HON'BLE MR. JUSTICE SANJEEV NARULA

Section 143(3)Section 260ASection 263

…ITA 541/2019 Page 1 of 33 * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on: 6th November, 2019 Pronounced on: 6th February, 2020 + ITA 541/2019 HOUSING AND URBAN DEVELOPMENT CORPORATION LTD THROUGH ITS AUTHORIZED SIGNATORY..... Appellant Through: Mr. Gagan Kumar and Mr. Amit Kaushik, Advocates. versus ADDITIONAL COMMISSIONER OF INCOME TAX RANGE 12 NEW DELHI ..... Respondent Through: Mr. Zoheb Hossain and Mr. Deepak Anand, Advocates. CORAM: HON’BLE MR. JUSTICE VIPIN SANGHI HON’BLE MR. JUSTICE SANJEEV…

M/S Woddegooda Estate, Bangalore vs. Incoem Tax Officer Ward-1, Chikamagalur

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

ITA 1926/BANG/2017[2011-12]Status: DisposedITAT Bangalore24 Nov 2017AY 2011-12

Bench: Shri A.K.Garodia, Accounant Member

For Appellant: Shri A. Shankar, AdvocateFor Respondent: Shri Palani Kumar, Addl. CIT

…in. Respectfully following this judgment, this issue is decided against the assessee. 4. Regarding the second issue, I find that the AO has followed a judgment of Hon’ble Kerala High Court rendered in the case of CIT vs. Pullengode Rubber & Produce Co. Ltd., 189 ITR 580 and held that 30% of total sale value is capital gain. Relevant Para of this judgment is reproduced below for ready reference:- “The only other question is regarding the estimate of the capital gains. The ITO estimated the capital gains at 50 per cent of the sale value. The CIT (A) reduced it to 30 per cent of the sale value. He has given cogent…

CIT v. Pullangode Rubber Produce Company Limited (189 ITR 580) — Cited in 7 Judgments | BharatTax