CIT v. Ramaniyam Homes Pvt. Ltd.

384 ITR 530High Court2016#2425 most cited

What is CIT v. Ramaniyam Homes Pvt. Ltd. authority for?

Benefits received by a company from its business operations, such as waived loans not used for capital assets, are taxable under section 28(iv) of the Income-tax Act, 1961.

48

judgments rely on this decision, according to BharatTax’s citation analysis of 366,459 Indian tax judgments — from 2016 to 2025.

Also referred to as

CIT v. Ramaniyam Homes Pvt. Ltd. · 384 ITR 530 · section 28(iv) · business income · waiver of loan · benefit taxable · section 28

Sections most often in play

Section 143(3)Section 144CSection 28(iv)Section 92CASection 234BSection 271Section 274Section 28

Issues it is cited on

section 28(iv)arm's length pricesection 28section 92casection 92csection 92section 144cinternational transactiontransfercompanytotal incomebusiness

Judgments citing CIT v. Ramaniyam Homes Pvt. Ltd.

ITO 2(1)(1), Mumbai vs. Tata Motors Ltd, Mumbai

In the result, appeal of the revenue is dismissed

ITA 4822/MUM/2011[2002-03]Status: DisposedITAT Mumbai27 Sept 2017AY 2002-03

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm Co No.193/Mum/2012 (Assessment Year :2002-03) Ito 2(1)(1) Vs. M/S. Tata Motors Ltd., R.No.552, Aayakar Bhavan Bombay House, Mumbai 24, Homi Modi Street Fort, Mumbai Pan/Gir No. Aaact2727Q Appellant) .. Respondent)

Section 143(3)Section 147Section 148Section 35DSection 41

…ort of his contention: i) CIT v Chipsoft Technology (P.) Ltd. (80 DTR 250)(Del.)(Alternate citation 26 taxmann.com 109)(not handed over by the DR) ii) Solid Containers Ltd (308 ITR 417)(Bom.) iii) Ramaniyam Homes (Tax Case (Appeal) No.278 of 2014) reported in 384 ITR 530 6 CO 193/Mum/2012 M/s. Tata Motors Ltd., 14. The Id. DR also relied on the Supreme Court decisions in case of CIT v T. V. Sundaram lyengar and Sons Ltd. (222 ITR 344) and CIT v M/s Karamchand Thapar (222 ITR 112) cited by the AO. 15. On the other hand, contention of learned AR was that in the context of 41(1), it requires to be noted that the am…

Indus Florabase Limited, Chennai vs. ITO, Chennai

In the result, appeal of the assessee is allowed

ITA 950/CHNY/2017[2007-08]Status: DisposedITAT Chennai23 Aug 2017AY 2007-08

Bench: Shri A. Mohan Alankamony

For Appellant: Shri Sagadevan, JCITFor Respondent: 05.07.2017
Section 10(1)Section 143(3)Section 250(6)Section 28Section 56

…आयकर अपील"य अ"धकरण, ‘एस.एम.सी’ ‘सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘SMC’ ‘C’ BENCH, CHENNAI "ी ए. मोहन अलंकामणी,लेखा सद"य केसम" Before Shri A. Mohan Alankamony, Accountant Member आयकरअपीलसं./I.T.A.No.950/Mds/2017 ("नधा"रणवष" / Assessment Year: 2007-08) Vs The Income Tax Officer, M/s. Indus Florabase Limited, No.4E, Vandana Towers, Corporate Ward 2(4), No.10, Haddows Road, Chennai – 34. Nungambakkam, Chennai – 600 034 PAN: AAACI0884M (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri T. Banusekar, CA अपीलाथ"क"ओरसे/ Appellant by : Shri Sagadevan, JCIT ""यथ"क"ओरसे/Respondent by : 05.07.2017 सुन…

DCIT, Chennai vs. Sical Logistics Ltd., Chennai

ITA 1697/CHNY/2014[2010-11]Status: DisposedITAT Chennai18 Aug 2017AY 2010-11

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

For Appellant: Shri Milind Madhukar, JCIT &For Respondent: Shri S. Sridhar, Advocate
Section 10Section 14A

…treated as a revenue receipt. His impugned order on this issue is, therefore, to be upheld. 25. Further, it was also submitted by D.R that the judgement of jurisdictional High Court in the case of C.I.T Vs. Ramaniyam Homes P. Ltd., in (2016) 95 CCH 0147/ 384 ITR 530 (Mad.) wherein the jurisdictional High Court deferred from earlier decision of the co-ordinate bench on the issue of taxability of waiver of loan taken for acquiring a capital asset, and also that waiver of principal portion of such loan would fall within the purview of Sec.28(iv) of the Act and hence, taxable as revenue receipt. Earlier judge…

DCIT, Chennai vs. Sical Logistics Ltd., Chennai

ITA 1696/CHNY/2014[2009-10]Status: DisposedITAT Chennai18 Aug 2017AY 2009-10

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

For Appellant: Shri Milind Madhukar, JCIT &For Respondent: Shri S. Sridhar, Advocate
Section 10Section 14A

…treated as a revenue receipt. His impugned order on this issue is, therefore, to be upheld. 25. Further, it was also submitted by D.R that the judgement of jurisdictional High Court in the case of C.I.T Vs. Ramaniyam Homes P. Ltd., in (2016) 95 CCH 0147/ 384 ITR 530 (Mad.) wherein the jurisdictional High Court deferred from earlier decision of the co-ordinate bench on the issue of taxability of waiver of loan taken for acquiring a capital asset, and also that waiver of principal portion of such loan would fall within the purview of Sec.28(iv) of the Act and hence, taxable as revenue receipt. Earlier judge…

DCIT, Chennai vs. Sical Logistics Ltd., Chennai

ITA 1695/CHNY/2014[2008-09]Status: DisposedITAT Chennai18 Aug 2017AY 2008-09

Bench: Shri Chandra Poojari & Shri Duvvuru Rl Reddy

For Appellant: Shri Milind Madhukar, JCIT &For Respondent: Shri S. Sridhar, Advocate
Section 10Section 14A

…treated as a revenue receipt. His impugned order on this issue is, therefore, to be upheld. 25. Further, it was also submitted by D.R that the judgement of jurisdictional High Court in the case of C.I.T Vs. Ramaniyam Homes P. Ltd., in (2016) 95 CCH 0147/ 384 ITR 530 (Mad.) wherein the jurisdictional High Court deferred from earlier decision of the co-ordinate bench on the issue of taxability of waiver of loan taken for acquiring a capital asset, and also that waiver of principal portion of such loan would fall within the purview of Sec.28(iv) of the Act and hence, taxable as revenue receipt. Earlier judge…

DCIT, Circle -7, Kolkata vs. M/S Delite Properites Pvt. Ltd., Kolkata

In the result, appeal of Revenue stands dismissed and that of assessee is 12

ITA 923/KOL/2012[2005-06]Status: DisposedITAT Kolkata21 Sept 2016AY 2005-06

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “A” KOLKATA Before Shri Waseem Ahmed, Accountant Member and Shri S.S.Viswanethra Ravi, Judicial Member ITA No.830 & 923/Kol/2012 Assessment Years:2005-06 Delite Properties Pvt. Ltd. बनाम DCIT, Circle-7, Circular Court, 9th Floor, Kolkata, P-7, / V/s. Chowringhee Square, 5th 8, AJC Bose Road, Kolkata-700 017 Floor, Room No. 15, [PAN No.AABCD 0241 J] Kolkata-69 DCIT, Circle-7, P-7, M/s Delite properties बनाम Chowringhee Square, 5th Pvt. Ltd., Circular / V/s. Court, 9th Floor, 8 AJC Floor, Room No.15, Kolkata-700 069 Bose Road, Kol-17 .. अपीलाथ" /Appellant ""यथ" /…

Delite Propeties Pvt. Ltd., Kolkata vs. DCIT, Circle -7, Kolkata

In the result, appeal of Revenue stands dismissed and that of assessee is 12

ITA 830/KOL/2012[2005-06]Status: DisposedITAT Kolkata21 Sept 2016AY 2005-06

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “A” KOLKATA Before Shri Waseem Ahmed, Accountant Member and Shri S.S.Viswanethra Ravi, Judicial Member ITA No.830 & 923/Kol/2012 Assessment Years:2005-06 Delite Properties Pvt. Ltd. बनाम DCIT, Circle-7, Circular Court, 9th Floor, Kolkata, P-7, / V/s. Chowringhee Square, 5th 8, AJC Bose Road, Kolkata-700 017 Floor, Room No. 15, [PAN No.AABCD 0241 J] Kolkata-69 DCIT, Circle-7, P-7, M/s Delite properties बनाम Chowringhee Square, 5th Pvt. Ltd., Circular / V/s. Court, 9th Floor, 8 AJC Floor, Room No.15, Kolkata-700 069 Bose Road, Kol-17 .. अपीलाथ" /Appellant ""यथ" /…

ITO 8(3)(1), Mumbai vs. Santogen Silk Mills Ltd, Mumbai

In the result, the Revenue’s appeal is allowed for statistical purposes

ITA 1700/MUM/2013[2009-10]Status: DisposedITAT Mumbai22 Jun 2016AY 2009-10

Bench: Shri Sanjay Arora, Am & Shri Pawan Singh, Jm आयकर अपील सं./I.T.A. No. 1700/Mum/2013 ("नधा"रण वष" / Assessment Year: 2009-10) Ito-8(3)-1, Santogen Silk Mills Ltd. बनाम/ Room No. 201, 2Nd Floor, 69-A, Midc Industrial Area, Vs. Aayakar Bhavan, Mumbai-20 Andheri East, Mumbai-93 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaacs 7361 R (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri Vishwas Jadhav ""यथ" क" ओर से/Respondent By : Shri R. C. Jain

For Appellant: Shri Vishwas JadhavFor Respondent: Shri R. C. Jain
Section 143(3)Section 28Section 41(1)

…आयकर अपील"य अ"धकरण “ई” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI SANJAY ARORA, AM AND SHRI PAWAN SINGH, JM आयकर अपील सं./I.T.A. No. 1700/Mum/2013 ("नधा"रण वष" / Assessment Year: 2009-10) ITO-8(3)-1, Santogen Silk Mills Ltd. बनाम/ Room No. 201, 2nd Floor, 69-A, MIDC Industrial Area, Vs. Aayakar Bhavan, Mumbai-20 Andheri East, Mumbai-93 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. AAACS 7361 R (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant by : Shri Vishwas Jadhav ""यथ" क" ओर से/Respondent by : Shri R. C. Jain सुनवाई क" तार"ख / : 30.5.2016 Date of Heari…