CIT v. Radico Khaitan Ltd.

274 ITR 354High Court2005#2062 most cited

What is CIT v. Radico Khaitan Ltd. authority for?

Where an assessee has mixed funds (borrowed and interest-free) and makes interest-free advances, it is presumed that such advances are made from interest-free funds if sufficient interest-free funds are available. This principle guides the disallowance of interest on borrowed capital under Section 36(1)(iii) if funds are diverted for non-business purposes without business expediency.

56

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2025.

Also referred to as

CIT v. Radico Khaitan Ltd. · 274 ITR 354 · Section 36(1)(iii) · interest disallowance · mixed fund theory · interest-free advances · borrowed capital · business expediency · presumptive allocation · non-business purpose · Section 56

Sections most often in play

Section 143(3)Section 147Section 148Section 250Section 32(1)(ii)Section 38(2)Section 56Section 92CA

Issues it is cited on

section 80ia(8)interest free advancesbusiness expediencysection 194hsection 80icsection 194jsection 40a(2)(b)section 36(1)(iii)section 2(22)section 2(22)(e)section 40a(2)on-money

Judgments citing CIT v. Radico Khaitan Ltd.

DCIT CIRCLE- 1, LTU, NEW DELHI vs. MAWANA SUGAR LTD., NEW DELHI

Appeal is partly allowed as above and the appeal of the Revenue is dismissed as above

ITA 5984/DEL/2019[2016-17]Status: DisposedITAT Delhi30 Apr 2025AY 2016-17

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishra

Section 115JSection 14ASection 36(1)(iii)

…ade. He placed reliance on following cases: (i) Woolcombers of India Ltd. 134 ITR 219 227 (Cal) M/s. Mawana Sugar Ltd. (ii) Alkali and Chemical Corporation of India Ltd. 161 ITR 820 (Cal) (iii) Hotel Savera 239 ITR 795 799-800 (Mad) (iv) Radico Khaitan Ltd. 274 ITR 354 (All) (v) Britannia Industries Ltd. 280 ITR 525 (Cal) (vi) Reliance Utilities and Power Ltd. 313 ITR 340 (Bom) (vii) East India Pharmaceutical Works Ltd. 224 ITR 627 (SC) (viii) Munjal Sales Corporation 298 ITR 298 (SC) (ix) South Indian Bank Ltd. 438 ITR 1 (SC) 5.3 The Ld. AR contended that the Hon'ble Supreme Court in the cases of East India P…

SARBINDER SINGH BINDRA,NEW DELHI vs. ACIT CIRCLE-47(1), NEW DELHI

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

ITA 7591/DEL/2019[2016-17]Status: DisposedITAT Delhi19 Feb 2025AY 2016-17

Bench: Shri Vikas Awasthy & Shri Manish Agarwalsarbinder Singh Bindra Asst. Cit, 362, 2Nd Floor, Circle-47(1), Naya Katra, Chandni Vs. Delhi. Chowk, Delhi-110006. Pan-Aaepb2783P (Appellant) (Respondent)

Section 154

…are as under: (i) Woolcombers of India Ltd. v. CIT (1982) 134 ITR 219 @ 227 (Cal). (ii) Alkali and Chemical Corporation of India Ltd. v. CIT 161 ITR 820 (Cal). (iii) CIT v. Hotel Savera (1999) 239 ITR 795 @799-800 (Mad) (iv) CIT v. Radico Khaitan Ltd. (2005) 274 ITR 354 @ 365-366 (All) (v) CIT v. Britannia Industries Ltd. (2006) 280 ITR 525 @ 532-534 (Cal) In CIT v. Reliance Utilities and Power Ltd. (2009) 313 ITR 340, Hon’ble Bombay High Court has held that where the investments were out of mixed funds and interest free funds were sufficient to meet the investments, a presumption would arise that investments w…

DY. CIT SPECIAL RANGE-1, LUCKNOW, LUCKNOW vs. M/S INDO GULF FERTILIZERS & CHEMICALSCOEPORATION LTD, SULTANPUR

In the result, the appeal of the Revenue is accordingly dismissed

ITA 1539/LKW/1996[1990-91]Status: DisposedITAT Lucknow27 Nov 2024AY 1990-91

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 143(3)Section 256(1)Section 32ASection 35D

…(Kar. HC) 10. Kalinga Tubes Ltd. vs. CIT [1974] 96 ITR 20 (Orissa HC) 11. CIT vs. Birla Jute & Industries Ltd. [2003] 260 ITR 55 (Cal. HC) 12. CIT vs. Electronics Research Industries (P) Ltd. [1991] 192 ITR 20 (Kar. HC) 13. CIT vs. Radico Khaitan Ltd. [2005] 274 ITR 354 (All. HC) 14. Brooke Bond India Ltd. vs. CIT [2018] 95 taxmann.com 189 (Cal I.T.A. No.1539/Lkw/1996 Assessment Year:1990-91 19 HC) 15. CIT vs. Professional Information Systems & Management [2005] 274 ITR 242 (Guj. HC) 16. CIT vs. Fort Gloster Industries Ltd. [1996] 219 ITR 223 (Cal. HC) 17. CIT vs. Steel Tubes of India Ltd. (No. 1) [1997] 228 I…

RAM RATAN JANGIR,AMER vs. INCOME TAX OFFICER, WARD -7(2), JAIPUR

In the result ground no. 1 raised by the

ITA 550/JPR/2024[2013-14]Status: DisposedITAT Jaipur22 Jul 2024AY 2013-14

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

For Appellant: Sh. Anoop Bhatiya, CAFor Respondent: Smt. Monisha Choudhary (Addl. CIT)
Section 143(3)Section 147Section 148

…CIT v/s M/s. Vijay Solvex Ltd. (2015) 274 CRT (Raj.) 384 while relying on the judgments rendered in (a) S.A. Builders Ltd. V/s CIT (2007) 288 ITR 0001 (SC); (b) Munjal Sales Corporation v/s CIT (2008) 298 ITR 298 (SC) ; (c) CIT V/s Radico Khaitan Ltd. (2005) 274 ITR 354; (d) CIT v/s Dalmia Cement (Pvt.) Ltd. (2002) 254 ITR • Godrej & Boyce Manufacturing Co. Ltd. v/s DCIT & Anr. (2017) 151 DTR 0089 (SC) /[2017] 81 taxmann.com 111 (SC) (DPB 44-46) CIT Vs Reliance Utilities & Power Ltd. (2009) 313 ITR 340 (Mum)/ [2009] 178 Taxman 135 (Bombay)(DPB 34-35), "The facts of that case were that the Assessee viz. M/s Relia…

ASST. COMMISSIONER OF INCOME TAX, CIRCLE 6(1)(1),MUMBAI, MUMBAI vs. ESSAR POWER GUJARAT LTD., MUMBAI

In the result, the appeal of the revenue is dismissed

ITA 137/MUM/2024[2014-15]Status: DisposedITAT Mumbai29 May 2024AY 2014-15

Bench: Shri Amit Shukla & Shri Ratnesh Nandan Sahayassessment Year: 2014-15 Mr. Arun Bende M/S. Essar Power Asst. Commissioner Of Gujarat Ltd. 11Th Floor, Essar House, Income Tax, Circle-6(1)(1), Mumbai. 11 K.K. Marg, Vs. Room No.504, 5Th Floor, Mahalaxmi, Aayakar Bhavan, Mumbai- 400034. M.K.Road, Pan:Aabce7510K Mumbai- 400020. (Appellant) (Respondent) Present For: Assessee By : Shri Vijay Mehta, A.R. Revenue By : Shri P. D. Chougule (Addl. Cit), D.R. Date Of Hearing : 21 . 05 . 2024 Date Of Pronouncement : 29 . 05 . 2024 O R D E R Per: Ratnesh Nandan Sahay: 1. This Appeal Has Been Filed By The Revenue Against The Order Of The Ld. Cit Appeal Passed U/S 250 Of The Income Tax Act (“Act” In Short) Vide Order No. Itba/Nfac/S/250/2023-24/1058193153(1) Dated 23.11.2023 For Assessment Year 2014-15. 2. Following Grounds Of Appeal Have Been Raised:

For Appellant: Shri Vijay Mehta, A.RFor Respondent: Shri P. D. Chougule (Addl. CIT), D.R
Section 250Section 801ASection 92C

…as „Income from Other Sources.‟ Reliance in this regard was also placed by the AO on the following judgments: i. Godavari Sugar Mills Ltd. v. CIT 191 ITR 359 (Born) ii. Shree Krishna Pollyester Ltd. v. Dy. CIT 274 ITR 21 (Bam) iii. CIT Vs. Radko Khaitan Ltd. 274 ITR 354 (All) iv. CIT Vs. Rajasthan Land Development Corporation 211 ITR 597 (Raj.) v. CIT Vs. Ravi Ratna Exports Pvt. Ltd., 246 ITR 443 (Born)” 7. Aggrieved by the order of the Assessing office, the assessee filed appeal before the Ld. CIT Appeal who allowed the claim of the assessee that this is a „business income‟ as has been held by it in assessee‟s…

ACIT CENTRAL-2 BHOPAL, BHOPAL vs. M/S M AHUJA PROJECT ( INDIA) P LTD, RAIPUR

In the result, the appeals of the assessee are allowed and appeals of revenue are dismissed

ITA 69/IND/2022[2015-16]Status: DisposedITAT Indore20 Dec 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 36(1)(iii)

…015] 59 taxmann.com 294 (Raj.) while relying on the judgment rendered in (a) S.A. Builders Ltd. v. CIT (Appeals) [2007] 288 ITR 1/158 Taxman 74 (SC); (b), Munjal Sales Corpn. v. CIT [2008] 298 ITR 298/168 Taxman 43 (SC); (c), CIT V. Radico Khaitan Ltd. [2005] 274 ITR 354/142 Taxman 681 (All); (d), CIT v. Dalmia Cement (P.) Ltd. [2002] 254 ITR 377/121 Taxman 706 (Delhi); (e), CIT V. Britannia Industries Ltd. [2006] 280 ITR 525/ [2005] 148 Taxman 654 (Cal.) and (f) CIT v. Motor Sales Ltd. [2008] 304 ITR 123 (All.), held as under:- "16. In view of the authoritative pronouncement of the Apex Court and other judgment…

THE ACIT, (CENTRAL)-II, BHOPAL vs. M/S. M. AHUJA PROJECT (INDIA) PVT. LTD., RAIPUR

In the result, the appeals of the assessee are allowed and appeals of revenue are dismissed

ITA 68/IND/2022[20214-15]Status: DisposedITAT Indore20 Dec 2023

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 36(1)(iii)

…015] 59 taxmann.com 294 (Raj.) while relying on the judgment rendered in (a) S.A. Builders Ltd. v. CIT (Appeals) [2007] 288 ITR 1/158 Taxman 74 (SC); (b), Munjal Sales Corpn. v. CIT [2008] 298 ITR 298/168 Taxman 43 (SC); (c), CIT V. Radico Khaitan Ltd. [2005] 274 ITR 354/142 Taxman 681 (All); (d), CIT v. Dalmia Cement (P.) Ltd. [2002] 254 ITR 377/121 Taxman 706 (Delhi); (e), CIT V. Britannia Industries Ltd. [2006] 280 ITR 525/ [2005] 148 Taxman 654 (Cal.) and (f) CIT v. Motor Sales Ltd. [2008] 304 ITR 123 (All.), held as under:- "16. In view of the authoritative pronouncement of the Apex Court and other judgment…

M/S. M. AHUJA PROJECT (INDIA) PVT. LTD.,RAIPUR vs. THE ACIT, (CENTRAL)-II, BHOPAL

In the result, the appeals of the assessee are allowed and appeals of revenue are dismissed

ITA 49/IND/2022[2015-16]Status: DisposedITAT Indore20 Dec 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 36(1)(iii)

…015] 59 taxmann.com 294 (Raj.) while relying on the judgment rendered in (a) S.A. Builders Ltd. v. CIT (Appeals) [2007] 288 ITR 1/158 Taxman 74 (SC); (b), Munjal Sales Corpn. v. CIT [2008] 298 ITR 298/168 Taxman 43 (SC); (c), CIT V. Radico Khaitan Ltd. [2005] 274 ITR 354/142 Taxman 681 (All); (d), CIT v. Dalmia Cement (P.) Ltd. [2002] 254 ITR 377/121 Taxman 706 (Delhi); (e), CIT V. Britannia Industries Ltd. [2006] 280 ITR 525/ [2005] 148 Taxman 654 (Cal.) and (f) CIT v. Motor Sales Ltd. [2008] 304 ITR 123 (All.), held as under:- "16. In view of the authoritative pronouncement of the Apex Court and other judgment…

M/S. M. AHUJA PROJECT (INDIA) PVT. LTD.,RAIPUR vs. THE ACIT, (CENTRAL)-II, BHOPAL

In the result, the appeals of the assessee are allowed and appeals of revenue are dismissed

ITA 48/IND/2022[2014-15]Status: DisposedITAT Indore20 Dec 2023AY 2014-15

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 36(1)(iii)

…015] 59 taxmann.com 294 (Raj.) while relying on the judgment rendered in (a) S.A. Builders Ltd. v. CIT (Appeals) [2007] 288 ITR 1/158 Taxman 74 (SC); (b), Munjal Sales Corpn. v. CIT [2008] 298 ITR 298/168 Taxman 43 (SC); (c), CIT V. Radico Khaitan Ltd. [2005] 274 ITR 354/142 Taxman 681 (All); (d), CIT v. Dalmia Cement (P.) Ltd. [2002] 254 ITR 377/121 Taxman 706 (Delhi); (e), CIT V. Britannia Industries Ltd. [2006] 280 ITR 525/ [2005] 148 Taxman 654 (Cal.) and (f) CIT v. Motor Sales Ltd. [2008] 304 ITR 123 (All.), held as under:- "16. In view of the authoritative pronouncement of the Apex Court and other judgment…

DCIT,C-11(1), NEW DELHI vs. HERO MOTOCORP LTD.,, NEW DELHI

Appeal of the Revenue is dismissed

ITA 1982/DEL/2019[2014-15]Status: DisposedITAT Delhi03 Feb 2023AY 2014-15

Bench: Shri Narendra Kumar Billaiya & Shri Kul Bharat

Section 14ASection 2(22)(e)Section 40Section 40a

…Sugar Mills Co. Ltd.: ITA No. 205 of 2018 (Del HC) - PCIT v. Reebok India Company: [2018] 259 Taxman 100 (Delhi) - Indian Explosives Ltd. V. CIT: 147 ITR 392 (Cal.) - Alkali & Chemicals Corp of India Ltd. v CIT: 161 ITR 820 (Cal) - CIT v Radico Khaitan Ltd : 274 ITR 354 (All) - CIT v Dhampur Sugar Mills Ltd : 274 ITR 370 (All) 33 - CIT v. United Collieries Ltd. : 49 Taxman 227 (Cal) - CIT v. Enamour Investment Ltd.: 72 Taxman 370 (Cal) - CIT v. Caroline Investment Ltd.: 87 Taxman 238 (Cal) - CIT v. Kanoria Investment (P) Ltd.: 232 ITR 7 (Cal) - CIT vs. Hotel Savera: 239 ITR 795 (Mad) - Smt. Chanchal Katyal v. C…

GUARDIAN NUTRITION & HEALTH SUPPLEMENTS PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE- 10(2), NEW DELHI

Appeal of the assessee is dismissed

ITA 6738/DEL/2017[2012-13]Status: DisposedITAT Delhi21 Nov 2022AY 2012-13

Bench: Shri Narendra Kumar Billaiya & Shri Kul Bharat[Assessment Year: 2012-13

Section 143(3)Section 36(1)(iii)Section 40

…und to the tune of Rs. 95.80 lakhs available with it and, therefore, only for the remaining sum of Rs. 1.46 lakhs, it had confirmed the disallowance of the interest. [Paras 10 and 11] (iv) Allahabad High Court in the case of CIT v. Radico Khaitan Ltd. [2005] 274 ITR 354/142 Taxman 681 The assessee company had sufficient fund other than the borrowed money for giving the amount in question as loan to its sister concern, which finding had not been specifically challenged in the present appeal. The conditions of s. 36(l)(iii) of the Act had been complied with and, therefore, the assessee company was entitled to full…

GEETANJALI HOTELS & PROMOTERS PVT LTD,JAIPUR vs. ACIT, JAIPUR

In the result, the appeals of the assessee in ITA No

ITA 299/JPR/2017[2013-14]Status: DisposedITAT Jaipur26 Sept 2022AY 2013-14
For Appellant: Shri Mahendra Gargieya ( Adv.) &For Respondent: Ms. Runi Pal (Addl.CIT)a
Section 143(3)Section 14ASection 251(2)Section 36(1)(iii)

…CIT v/s M/s. Vijay Solvex Ltd. (2015) 274 CRT (Raj.) 384 while relying on the judgments rendered in (a) S.A. Builders Ltd. V/s CIT (2007) 288 ITR 0001 (SC); (b) Munjal Sales Corporation v/s CIT (2008) 298 ITR 298 (SC) ; (c) CIT V/s Radico Khaitan Ltd. (2005) 274 ITR 354; (d) CIT v/s Dalmia Cement (Pvt.) Ltd. (2002) 254 ITR Geetanjali Hotels & Promoters Pvt. Ltd. 377; (e) CIT v/s Britannia Industries Ltd. (2006) 280 ITR 525; and (f) CIT v/s Motors Sales Ltd. (2008) 304 ITR 123 (Allahabad), held as under:- x---------------x----------------x----------------x-------------------x---------x 14. Therefore, the finding…

GEETANJALI HOTELS & PROMOTERS PVT LTD,JAIPUR vs. ACIT, JAIPUR

In the result, the appeals of the assessee in ITA No

ITA 298/JPR/2017[2012-13]Status: DisposedITAT Jaipur26 Sept 2022AY 2012-13
For Appellant: Shri Mahendra Gargieya ( Adv.) &For Respondent: Ms. Runi Pal (Addl.CIT)a
Section 143(3)Section 14ASection 251(2)Section 36(1)(iii)

…CIT v/s M/s. Vijay Solvex Ltd. (2015) 274 CRT (Raj.) 384 while relying on the judgments rendered in (a) S.A. Builders Ltd. V/s CIT (2007) 288 ITR 0001 (SC); (b) Munjal Sales Corporation v/s CIT (2008) 298 ITR 298 (SC) ; (c) CIT V/s Radico Khaitan Ltd. (2005) 274 ITR 354; (d) CIT v/s Dalmia Cement (Pvt.) Ltd. (2002) 254 ITR Geetanjali Hotels & Promoters Pvt. Ltd. 377; (e) CIT v/s Britannia Industries Ltd. (2006) 280 ITR 525; and (f) CIT v/s Motors Sales Ltd. (2008) 304 ITR 123 (Allahabad), held as under:- x---------------x----------------x----------------x-------------------x---------x 14. Therefore, the finding…

ALLEN CAREER INSTITUTE,KOTA vs. JCIT, JAIPUR

In the result, the Grounds No

ITA 54/JPR/2017[2012-12]Status: DisposedITAT Jaipur04 Aug 2022AY 2012-12
For Appellant: Shri Mahendra Gargieya, Advocate &For Respondent: Shri A.S. Nehra, Addl. CIT
Section 143(3)Section 234ASection 244ASection 36Section 36(1)(iii)Section 37(1)

…CIT v/s M/s. Vijay Solvex Ltd. (2015) 274 CRT (Raj.) 384 while relying on the judgments rendered in (a) S.A. Builders Ltd. V/s CIT (2007) 288 ITR 0001 (SC); (b) Munjal Sales Corporation v/s CIT (2008) 298 ITR 298 (SC) ; (c) CIT V/s Radico Khaitan Ltd. (2005) 274 ITR 354; (d) CIT v/s Dalmia Cement (Pvt.) Ltd. (2002) 254 ITR 377; (e) CIT v/s Britannia Industries Ltd. (2006) 280 ITR 525; and (f) CIT v/s Motors Sales Ltd. (2008) 304 ITR 123 (Allahabad), held as under:- x---------------x----------------x----------------x-------------------x---------x 14. Therefore, the finding reached by the Tribunal is essentially a…

ALLEN CAREER INSTITUTE,JAIPUR vs. JCIT, KOTA

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

ITA 620/JPR/2016[2011-12]Status: DisposedITAT Jaipur04 Aug 2022AY 2011-12
For Appellant: Shri Mahendra Gargieya, Advocate &For Respondent: Shri A.S. Nehra, Addl. CIT
Section 143(3)Section 36Section 36(1)(iii)Section 37(1)

…384 while relying on the judgments rendered in (a) S.A. 13 ALLEEN CAREER INSTITUTE VS JCIT, RANGE-2, KOTA Builders Ltd. V/s CIT (2007) 288 ITR 0001 (SC); (b) Munjal Sales Corporation v/s CIT (2008) 298 ITR 298 (SC) ; (c) CIT V/s Radico Khaitan Ltd. (2005) 274 ITR 354; (d) CIT v/s Dalmia Cement (Pvt.) Ltd. (2002) 254 ITR 377; (e) CIT v/s Britannia Industries Ltd. (2006) 280 ITR 525; and (f) CIT v/s Motors Sales Ltd. (2008) 304 ITR 123 (Allahabad), held as under:- x---------------x----------------x----------------x-------------------x---------x 14. Therefore, the finding reached by the Tribunal is essentially a…

ALLEN CAREER INSTITUTE,JAIPUR vs. JCIT, KOTA

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

ITA 246/JPR/2015[2010-11]Status: DisposedITAT Jaipur04 Aug 2022AY 2010-11
For Appellant: Shri Mahendra Gargieya, Advocate &For Respondent: Shri A.S. Nehra, Addl. CIT
Section 143(3)Section 234ASection 244ASection 36(1)(iii)

…CIT v/s M/s. Vijay Solvex Ltd. (2015) 274 CRT (Raj.) 384 while relying on the judgments rendered in (a) S.A. Builders Ltd. V/s CIT (2007) 288 ITR 0001 (SC); (b) Munjal Sales Corporation v/s CIT (2008) 298 ITR 298 (SC) ; (c) CIT V/s Radico Khaitan Ltd. (2005) 274 ITR 354; (d) CIT v/s Dalmia Cement (Pvt.) Ltd. (2002) 254 ITR 377; (e) CIT v/s Britannia Industries Ltd. (2006) 280 ITR 525; and (f) CIT v/s Motors Sales Ltd. (2008) 304 ITR 123 (Allahabad), held as under:- x---------------x----------------x----------------x-------------------x---------x 14. Therefore, the finding reached by the Tribunal is essentially a…

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

ITA 1600/AHD/2013[2009-10]Status: DisposedITAT Ahmedabad24 Feb 2022AY 2009-10

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri S.N. Soparkar, Sr. Advocate with Shri Parin Shah, A.RFor Respondent: Shri Vijaykumar Jaiswal, CIT, D.R
Section 143(3)Section 14A

…s placed on the following case laws. (i) Raj Vikas Quaries and Ind. P.Ltd. v/s. ACI.T (1992) 42 TTJ 262 (ii) United Agencies V/s. ITO (1990) 37 TTJ 374 (Ahd.) (iii) CIT v/s.Dhampur Sugar Mills Ltd (2006) 1,48 Taxman 321 (All.) (iv) CIT v/s.Radico Khaitan Ltd. 274 ITR 354 (All.) ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 21 It will also be pertinent to note here that the Ld A.O. in this regard had placed reliance on the case of CIT vs Abhishek Industries Ltd., reported at 286 ITR 1 (P & H). In this regard it is observed that the observations made in the case of Abhishek Industries Ltd., stands reversed by th…

NIRMA CHEMICAL WORKS PVT.LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-5,, AHMEDABAD

In the result appeal of the revenue is dismissed

ITA 1190/AHD/2013[2009-10]Status: DisposedITAT Ahmedabad24 Feb 2022AY 2009-10

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri S.N. Soparkar, Sr. Advocate with Shri Parin Shah, A.RFor Respondent: Shri Vijaykumar Jaiswal, CIT, D.R
Section 143(3)Section 14A

…s placed on the following case laws. (i) Raj Vikas Quaries and Ind. P.Ltd. v/s. ACI.T (1992) 42 TTJ 262 (ii) United Agencies V/s. ITO (1990) 37 TTJ 374 (Ahd.) (iii) CIT v/s.Dhampur Sugar Mills Ltd (2006) 1,48 Taxman 321 (All.) (iv) CIT v/s.Radico Khaitan Ltd. 274 ITR 354 (All.) ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 21 It will also be pertinent to note here that the Ld A.O. in this regard had placed reliance on the case of CIT vs Abhishek Industries Ltd., reported at 286 ITR 1 (P & H). In this regard it is observed that the observations made in the case of Abhishek Industries Ltd., stands reversed by th…

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

ITA 1209/AHD/2012[2007-08]Status: DisposedITAT Ahmedabad24 Feb 2022AY 2007-08

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri S.N. Soparkar, Sr. Advocate with Shri Parin Shah, A.RFor Respondent: Shri Vijaykumar Jaiswal, CIT, D.R
Section 143(3)Section 14A

…s placed on the following case laws. (i) Raj Vikas Quaries and Ind. P.Ltd. v/s. ACI.T (1992) 42 TTJ 262 (ii) United Agencies V/s. ITO (1990) 37 TTJ 374 (Ahd.) (iii) CIT v/s.Dhampur Sugar Mills Ltd (2006) 1,48 Taxman 321 (All.) (iv) CIT v/s.Radico Khaitan Ltd. 274 ITR 354 (All.) ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 21 It will also be pertinent to note here that the Ld A.O. in this regard had placed reliance on the case of CIT vs Abhishek Industries Ltd., reported at 286 ITR 1 (P & H). In this regard it is observed that the observations made in the case of Abhishek Industries Ltd., stands reversed by th…

THE ACIT, CIRCLE-5,, AHMEDABAD vs. NIRMA CHEMICALS WORKS PVT.LTD., AHMEDABAD

In the result appeal of the revenue is dismissed

ITA 1208/AHD/2012[2006-07]Status: DisposedITAT Ahmedabad24 Feb 2022AY 2006-07

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: Shri S.N. Soparkar, Sr. Advocate with Shri Parin Shah, A.RFor Respondent: Shri Vijaykumar Jaiswal, CIT, D.R
Section 143(3)Section 14A

…s placed on the following case laws. (i) Raj Vikas Quaries and Ind. P.Ltd. v/s. ACI.T (1992) 42 TTJ 262 (ii) United Agencies V/s. ITO (1990) 37 TTJ 374 (Ahd.) (iii) CIT v/s.Dhampur Sugar Mills Ltd (2006) 1,48 Taxman 321 (All.) (iv) CIT v/s.Radico Khaitan Ltd. 274 ITR 354 (All.) ITA Nos.1054/Ahd/2012 and 6 others A.Y. 2006-07 21 It will also be pertinent to note here that the Ld A.O. in this regard had placed reliance on the case of CIT vs Abhishek Industries Ltd., reported at 286 ITR 1 (P & H). In this regard it is observed that the observations made in the case of Abhishek Industries Ltd., stands reversed by th…

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