How many judgments cite CIT v. Reliance Utilities & Power Ltd.?

2,118 judgments on BharatTax cite CIT v. Reliance Utilities & Power Ltd. (313 ITR 340), spanning 2013 to 2026.

Which sections of the Income Tax Act does CIT v. Reliance Utilities & Power Ltd. come up under?

It is most often cited in judgments turning on Section 14A, Section 36(1)(iii), Section 143(3), Section 115JB, Section 8D, Section 10(34).

CIT v. Reliance Utilities & Power Ltd.

313 ITR 340High Court2009#10 most cited

What is CIT v. Reliance Utilities & Power Ltd. authority for?

Where an assessee claims that investments were made out of own funds, interest disallowance under Section 14A read with Rule 8D may not apply if the assessee demonstrates the availability of sufficient interest-free funds to cover such investments.

2,118

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2013 to 2026.

Also referred to as

CIT v. Reliance Utilities and Power Ltd. · Section 14A · Rule 8D · interest free advances · disallowance of interest expenditure · own funds · interest-free funds

Also reported as

178 Taxmann 13513 DTR 237178 Taxmann.com 135284 CTR 414

Sections most often in play

Section 14A Section 36(1)(iii)Section 143(3)Section 115JB Section 8D Section 10(34)Section 143(2)Section 37(1)

Issues it is cited on

interest free advances disallowance of interest expenditure section 36(1)(iii)disallowance under section 14a commercial expediency disallowance u/s 14a section 14a book profits section 115j section 36(1)section 36 section 115jb

Judgments citing CIT v. Reliance Utilities & Power Ltd.

The Dy.Commissioner of Income Tax Circle-1(1)(1), Ahmedabad vs. M/S. Ananya Finance for Inclusive Growth Pvt. Ltd., Ahmedabad

ITA 1186/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad28 Aug 2024AY 2012-13

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar

For Appellant: Shri Tushar Hemani, Sr. AdvocateFor Respondent: Shri H. Phani Raju, CIT-DR & Shri

Section 143(3)Section 14ASection 250

…Court) 2. CIT vs. Torrent Power Ltd. - 363 ITR 474 (Gujarat High Court) 3. CIT vs. Suzlon Energy Ltd. - 354 ITR 630 (Gujarat High Court) 4. CIT vs. Gujarat Power Corporation Ltd. - 352 ITR 583 (Gujarat High Court) 5. CIT vs. Reliance Utilities & Power Ltd. - 313 ITR 340 (Bombay High Court) 6. Munjal Sales Corporation vs. CIT - 298 ITR 298 (Supreme Court) 16. The judicial precedents cited by the assessee establish a critical principle regarding the application of Section 14A of the Act. The collective essence of these judicial precedents is that when an assessee demonstrates the availability of sufficient intere…

Eh Building Consultancy Private Limited, Chennai vs. Commissioner of Income-Tax (Appeals), Chennai

In the result, appeal filed by the assessee is partly allowed for

ITA 224/CHNY/2024[2013-2014]Status: DisposedITAT Chennai21 Aug 2024AY 2013-2014

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.224/Chny/2024 िनधा"रण वष"/Assessment Year: 2013-14 V. M/S.Eh Building Consultancy- The Acit, Pvt. Ltd., Corporate Circle-2(1), 1C, 1St Floor, 88/4, Chennai. Gowri Chitra Garden Complex, Arcot Road, Chennai-600 026. [Pan: Aabce 8062 E] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Harsha Vardan, AdvFor Respondent: Shri P. Sajit Kumar, JCIT

…essee has mixed funds (interest free as well as interest bearing) then the presumption is that the loan given are from the interest-free funds as held by the Hon’ble Bombay High Court in the case of CIT v. Reliance Utilities & Power Ltd., reported in (2009) 313 ITR 340 (Bom.). M/s.EH Building Consultancy Pvt. Ltd. :: 5 :: 7. In the light of the aforesaid submission of the Ld.AR and since, the aforesaid facts have not been verified by the AO, we set aside the impugned order of the Ld.CIT(A) and restore this issue back to the file of the JAO for limited purpose of verification of the aforesaid facts discussed (…

Monica Gold Pipes Private Limited, Khasra No vs. Income Tax Officer, Ward 16(2), C R Building

In the result, appeals of the assessee are allowed

ITA 3792/DEL/2023[2014-15]Status: DisposedITAT Delhi21 Aug 2024AY 2014-15

Bench: Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A Nos.3791 & 3792/Del/2023 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

Section 11Section 119Section 119(2)(b)Section 260A

…company or its related company on account of share application money, interest could not be disallowed – Held, yes [Para 9] [In favour of assessee].” 18. Similar view has been taken by the Hon’ble Bombay High Court in the case of CIT Vs. Reliance Utilities (313 ITR 340), wherein the Hon’ble High Court held that where the assessee has his own funds as well as borrowed funds the presumption can be made that the advances for non business purposes have been made out of the own funds and that the borrowed funds have not been used for this purpose, accordingly, the disallowance of interest on the borrowed funds is…

Monica Gold Pipes Private Limited, Khasra No vs. Income Tax Officer, Ward 16(2), C R Building

In the result, appeals of the assessee are allowed

ITA 3791/DEL/2023[2013-14]Status: DisposedITAT Delhi21 Aug 2024AY 2013-14

Bench: Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A Nos.3791 & 3792/Del/2023 िनधा"रणवष"/Assessment Years: 2013-14 & 2014-15

Section 11Section 119Section 119(2)(b)Section 260A

Pragati Power Corporation Ltd, New Delhi vs. ACIT, Circle 20(1), New Delhi

In the result, the appeal filed by the assessee is partly allowed as indicated above

ITA 1617/DEL/2023[2018-19]Status: DisposedITAT Delhi14 Aug 2024AY 2018-19

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

Section 115JSection 145(2)Section 32Section 36Section 36(1)(iii)Section 37Section 43ASection 46ASection 80I

…ient to meet its investment. It is to be presumed that the investments were made from the interest free funds available with the assessee. Pragati Power Corporation vs. ACIT vi) Bombay High Court in the case of CIT vs Reliance Utilities and Power Ltd. (2009) 313 ITR 340 have held that if there is interest free funds availableto an assessee, sufficient to meet its investments and at the same time assessee had raised a loan, it can be presumed that the investments were made from the interest free funds available. vii) Various Benches of ITAT have taken a similar view, some of the cases are Tata Sky Ltd. vs ACIT (2…

ACIT, New Delhi vs. Shri Bhawan Mohan Garg, New Delhi

In the result, the appeal of the revenue is dismissed

ITA 2624/DEL/2017[2011-12]Status: DisposedITAT Delhi13 Aug 2024AY 2011-12

Bench: Sh. S. Rifaur Rahman & Sh. Sudhir Kumarassessment Year: 2011-12 Acit Vs Bhawan Mohan Garg Circle – 32 (1) C-16, Green Park New Delhi Extension, New Delhi Pan No.Aahpg2084K (Appellant) (Respondent)

Section 143(2)Section 143(3)Section 145Section 195Section 40Section 40t

…he appellant has sufficient interest free funds to make investments or to make advances for non-business purpose. The appellant has also relied upon various judgments which are as under: (a) CIT Vs. Reliance Utilities & Power Ltd ITA No. 1398/MumHC/20 (2009) 313 ITR 340 [DoD: 09/01/09] Where an assessee has his own funds as well as borrowed funds, a presumption can be made that the advances for non-business purposes have been made out of the own funds and that the borrowed funds have not been used for this purpose Accordingly, the disallowance of the interest on the borrowed funds is justified. (b) CIT Vs. UTI…

ACIT, Sambalpur vs. Smt. Indrani Patnaik, Rourkela

In the result, appeal of the revenue is dismissed

ITA 219/CTK/2023[2019-20]Status: DisposedITAT Cuttack06 Aug 2024AY 2019-20

Bench: Shri George Mathan & Shri Manish Agarwalआयकर अऩीऱ सं/Ita No.219/Ctk/2023 (ननधाारण वषा / Assessment Year : 2019-2020) Acit, Sambalpur Vs Smt. Indrani Patnaik, A-6, Comercial Estate, Civil Township, Rourkela Pan No. :Accpp 6164 E (अऩीऱाथी /Appellant) .. (प्रत्यथी / Respondent) राजस्व की ओर से /Revenue By : Shri Sanjay Kumar, Cit-Dr ननधााररती की ओर से /Assessee By : Shri S.C.Bhadra, Ca सुनवाई की तारीख / Date Of Hearing : 06/08/2024 घोषणा की तारीख/Date Of Pronouncement : 06/08/2024 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Revenue Against The Order Of The Ld. Cit(A)-2, Bhubaneswar, Dated 29.03.2023, Passed In I.T.Appeal No.Bhubaneswar-2/10625/2018-19 For The Assessment Year 2019-2020, On The Following Grounds Of Appeal :- 1. The Cit(A) Erred In Deleting The Addition Made Towards Peripheral Development Charges Of Rs. 49,49,231/- As Such Expenditure Is Not Allowable As Per The Provisions Of Section 37 Of The Act. 2. The Cit(A) Erred In Deleting The Addition Of Rs. 10,69,56,849/- U/S 14A As The Assessee Has Exempt Income During The Year. 3. The Cit(A) Was Not Correct In Deleting The Addition U/S 14A Holding That Satisfaction Is Not Recorded By The Ao, When The Assessee Has Not Suomoto Disallowed Any Expenditure Related To Earning Exempt Income As Decided By The Hon'Ble Supreme Court In The Case Of Maxopp Investment Ltd Dtd 12.02.2018. 4. The Cit(A) Was Not Correct In Deleting The Addition U/S 14A, When The Ao Has Given A Finding In The Assessment Order That The Assessee Has Shown Investment That Yielded Tax Free

For Appellant: Shri S.C.Bhadra, CAFor Respondent: Shri Sanjay Kumar, CIT-DR

Section 132Section 135Section 143(3)Section 14ASection 153ASection 37Section 37(1)

…sessee's own surplus funds - Whether in view of aforesaid, impugned order passed by High Court was to be set aside - Held, yes [In favour of assessee] 11 15. Further the Hon’ble Supreme Court in the case of Reliance Utilities & Power Ltd., reported in [2009] 313 ITR 340 (Bombay), has held the expression as under :- Section 36(1)(iii) of the Income-tax Act, 1961 - Interest on borrowed capital - Assessee-company was engaged in business of generation of power - It had made investments in its sister concern from January, 2000 to March, 2000 - Assessing Officer was of view that sum of Rs. 213 crores was invested out…

Signet Industries Ltd., Maharashtra vs. NFAC, Delhi

Appeal is partly allowed

ITA 525/IND/2023[2013-2014]Status: DisposedITAT Indore30 Jul 2024AY 2013-2014

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year:2013-14 Signet Industries Limited, Nfac, Delhi / Gala No. 02 & 03, Acit, Central-1, Indore Buiding No. A-2, Ground Floor, Print World Industrial बनाम/ Complex, Vs. Village Vehele Bhindwadi, Shastri Nagar, Thane (Maharastra) (Assessee/Appellant) (Revenue/Respondent) Pan: Aabcs3489F Assessee By Shri Ajay Tulsiyan, C.A. & Ruchira Singhal, Ca Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 02.07.2024 Date Of Pronouncement 30.07.2024

Section 143(2)Section 143(3)Section 14ASection 36(1)(va)

…stries Limited, Thane ITA No. 525/Ind/2023 – AY 2013-14 much higher than the investment of Rs. 7,69,40,880/- made by assessee in shares/mutual funds. He relied upon HDFC Bank Ltd. (2014) 366 ITR 505 (Bom) and CIT Vs. Reliance Utilities and Power Ltd. (2009) 313 ITR 340 (Bom) to contend that it is an acceptable judicial view that if the assessee has both types of funds, namely interest-bearing and interest-free, then the presumption would arise that the investment had been made out of interest-free funds available, if the interest-free funds are sufficient to meet the investment. Therefore also, Ld. AR conten…

Sundaram Fasteners Limited, Chennai vs. DCIT Corporate Circle 6(2), Chennai

In the result, appeal filed by the assessee is partly allowed for

ITA 3236/CHNY/2017[2013-14]Status: DisposedITAT Chennai26 Jul 2024AY 2013-14

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.3236/Chny/2017 िनधा"रण वष"/Assessment Year: 2013-14 V. M/S.Sundram Fasteners Ltd., The Dcit, 98-A, 7Th Floor, Corporate Circle-6(2), Dr.Radhakrishnan Salai, Chennai. Mylapore, Chennai-600 004. [Pan: Aaacs 8779 D] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Vikaram VijayaraghavanFor Respondent: Shri A. Sasikumar, CIT

…umed that the investments were made from interest free funds available with the assessee. The ratio of decision of Hon’ble Madras High Court in CIT V/s Hotel Savera (239 ITR 795) as well the decision of Hon’ble Bombay High Court in CIT V/s Reliance Utilities (313 ITR 340) was applicable to the case of the assessee. The availability of cash surplus as tabulated by the assessee in its reply to Ld. CIT(A) was as under: - M/s.Sundram Fasteners Ltd. :: 27 :: (Rs. In Lacs) Particulars FY 2007-08 FY 2006-07 FY 2005-06 Net Worth 42211 37476 32387 Profit before tax 10446 11194 9615 Less : Tax 3499 4008 3422 Profit After…

ITO, New Delhi vs. M/S Ansal Housing & Construction Ltd., New Delhi

In the result, the cross-objection filed by the assessee is dismissed

ITA 2731/DEL/2010[2007-08]Status: DisposedITAT Delhi26 Jul 2024AY 2007-08

Bench: Shri G.S.Pannu & Shri Kul Bharat[Assessment Year : 2007-08] Dcit, Vs Ansal Housing & Construction Ltd., Central Circle-20, Ugf-15, Indraprastha Building, 21, New Delhi. Barakhamba Road, New Delhi. Pan-Aaaca0377R Appellant Respondent

Section 143(3)Section 14ASection 80Section 80I

…d. v. CIT: 402 ITR 640 (SC) affirming decision of the Delhi High Court in Maxopp Investment Ltd. vs. CIT: 347 ITR 272 (Del.) - CIT vs. Hero Cycles: 323 ITR 518 (P&H) - CIT v. Metalman Auto P. Ltd.: 336 ITR 434 (P&H) - CIT v. Reliance Utilities and Power Ltd.: 313 ITR 340 (Bom.) - CIT v. Torrent Power Ltd.: 363 ITR 474 (Guj). As regards old investment, it is respectfully submitted that such investment has been accepted to be made out of interest free funds inasmuch as no disallowance under section 14A of the Act was made in respect thereof in preceding assessment years. It is pertinent to note that the opening inv…

ACIT, Circle-1(1)(1), Ahmedabad, Vejalpur vs. Axis Bank Limited, Ellisbridge

In the result, the appeal of the Department is dismissed

ITA 49/AHD/2024[2011-12]Status: DisposedITAT Ahmedabad24 Jul 2024AY 2011-12

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Tushar Hemani, Sr. Advocate & ShriFor Respondent: Dr. Darsi Suman Ratnam, CIT DR

Section 143(3)Section 14ASection 254

…t this, we find that the tax free investment at Rs. 651 crores. Thus, it can be safely concluded that the assessee was having sufficient own funds to make the tax free investment, the Hon'ble High Court of Bombay in the case of Reliance Utilities and wer Ltd. 313 ITR 340 has held that if there are mixed funds then the power presumption would be that the investments have been made out of interest free funds. This ratio of the Hon'ble High Court of Bombay was subsequently followed in the case of HDFC Ltd. 266 ITR 505. As mentioned elsewhere, the assessee was having sufficient own funds to meet out the tax free inve…

ACIT, Circle-1(1)(1), Ahmedabad, Vejalpur vs. Axis Bank Ltd, Elisbridge

In the result, the appeal of the Department is dismissed

ITA 48/AHD/2024[2010-11]Status: DisposedITAT Ahmedabad24 Jul 2024AY 2010-11

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Tushar Hemani, Sr. Advocate & ShriFor Respondent: Dr. Darsi Suman Ratnam, CIT DR

Section 143(3)Section 14ASection 254

Axis Bank Limited, Ahmedabad vs. The ACIT., Circle-1(1)(1), Ahmedabad

In the result, the appeal of the Department is dismissed

ITA 143/AHD/2024[2011-12]Status: DisposedITAT Ahmedabad24 Jul 2024AY 2011-12

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Tushar Hemani, Sr. Advocate & ShriFor Respondent: Dr. Darsi Suman Ratnam, CIT DR

Section 143(3)Section 14ASection 254

Axis Bank Limited, Ahmedabad vs. The ACIT., Circle-1(1)(1), Ahmedabad

In the result, the appeal of the Department is dismissed

ITA 142/AHD/2024[2010-11]Status: DisposedITAT Ahmedabad24 Jul 2024AY 2010-11

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Tushar Hemani, Sr. Advocate & ShriFor Respondent: Dr. Darsi Suman Ratnam, CIT DR

Section 143(3)Section 14ASection 254

DCIT-CC-7(3), Aaykar Bhavan, Maharishi Karve Road, Mumbai, Maharashtra vs. Arihant Premises Private Limited, Mumbai

In the result, ground Nos

ITA 1602/MUM/2024[2013-14]Status: DisposedITAT Mumbai24 Jul 2024AY 2013-14

Bench: Shri Prashant Maharshi & Shri Anikesh Banerjeedcit-Cc-7(3), Vs Arihant Premises Private Limited Room No-655, Aayakar Bhavan, 412, Floor-4, Vardhaman Chamber Maharishi Karve Road, Cawasji Patel Road, Horniman Mumbai-400 020 Circle, Fort, Mumbai-400 001 Pan : Aaaca7260K Appellant Respondent

For Appellant: Shri Neeraj ShethFor Respondent: Shri Manoj Kumar Sinha (SRDR)

Section 139(1)Section 143(3)Section 14ASection 250Section 36Section 36(1)(iii)

…re capital, reserves and surplus to the tune of Rs.5.83 Cr, which proved that the investments of Rs.7.8 lakhs had been made out of its own funds. Relying upon the decisions of Hon'ble Bombay High Court in the cases of Reliance Power and Utilities Ltd. v. CIT (313 ITR 340) and HDFC Bank Ltd. v. CIT (366 ITR 505), the appellant contended before the AO that no disallowance u/s. 14A read with Rule 8D was called for in its case. However, the AO held that the contention of the appellant that the investments had been made out of own funds is not acceptable for the reasons that (i) the appellant had borrowed huge funds f…

Banwari Lall Pasari, Kolkata vs. ACIT, Cir. 34, Kolkata

In the result, appeal of the assessee is partly allowed for statistical purposes

ITA 679/KOL/2024[2015-16]Status: DisposedITAT Kolkata23 Jul 2024AY 2015-16

Bench: Dr. Manish Boradi.T.A. No.679/Kol/2024 Assessment Year: 2015-16

Section 143(3)Section 14ASection 250Section 80G

…wari Lall Pasri AY : 2015-16 is more than the investment made in the equity shares and units. It has been consistently held by the Hon’ble court including that by the Hon’ble Bombay High Court in the case of CIT vs. Reliance Utilities and Power Ltd. - (2009) 313 ITR 340 (Bom.) that “if there were funds available both interest free and overdraft/loans taken, then a presumption would arise that investment would be out of the interest free funds generated or available with the company, if the interest free funds were sufficient to meet the investment and, therefore, no part of the interest on borrowings could be di…

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

…co 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 Reliance Utilities and Power Ltd. had invested certain amounts in Reliance Gas Ltd. and Reliance Strategic Investments Ltd. It was the case of the Assessee that they themselves were in the business of generation of power and they had earned r…

Sandeep Gangula, Karimnagar vs. DCIT., Circle-1, Karimnagar

In the result, appeal filed by the assessee is allowed

ITA 621/HYD/2024[2016-17]Status: DisposedITAT Hyderabad18 Jul 2024AY 2016-17

Bench: Shri Manjunatha, G.आ.अपी.सं /Ita No.621/Hyd/2024 (िनधा"रण वष"/Assessment Year: 2016-17) Shri Sandeep Gangula Vs. Dy. C. I. T. Karimnagar Circle 1 Pan:Amdpg0238R Karimnagar (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri Guna Sekhar Reddy, Ca राज" व "ारा/Revenue By:: Shri G. V.P. Pavan Kumar,Dr सुनवाई की तारीख/Date Of Hearing: 18/07/2024 घोषणा की तारीख/Pronouncement: 18/07/2024 आदेश/Order

For Appellant: Shri Guna Sekhar Reddy, CAFor Respondent: : Shri G. V.P. Pavan Kumar,DR

Section 36(1)(iii)

…sing Officer is erred in disallowance of proportionate interest expenditure u/s 36(1)(iii) of the I.T. Act, 1961. This view is verified by the decision of the Hon'ble Bombay High Court in the case of CIT vs. Reliance Utilities and Power Ltd reported in (2009) 313 ITR 340 (Bom). Therefore, I am of the considered opinion that the learned CIT (A) is erred in upholding the additions made by the Assessing Officer towards disallowance of interest u/s 36(1)(iii) of the Act. Thus, I set aside the order of the learned CIT (A) and direct the Assessing Officer to delete the addition made towards the disallowance of interest…

Rane Engine Valve Ltd, Chennai vs. DCIT Corporate Circle-5(1), Chennai

In the result, the appeals filed by the assessee for assessment year 2012-13 in ITA No

ITA 885/CHNY/2020[2015-16]Status: DisposedITAT Chennai03 Jul 2024AY 2015-16

Bench: Shri Mahavir Singhand Shri Amitabh Shukla

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri G. Suresh, JCIT

Section 143(3)

…e than the interest free advances, the AO will not make any disallowance. The ld. Senior DR also agreed for this. This issue is squarely covered by the decision of Hon’ble Bombay High Court in the case of CIT vs. Reliance Utilities and Power Ltd., reported in 313 ITR 340 and the Hon’ble Bombay High Court in the case of CIT vs. HDFC Bank Ltd., reported in [2014] 366 ITR 505. Hence, we remit this issue back to the file of the AO for verification purpose and he will verify whether the interest free funds are available with the assessee, which is more than the interest free advances given to Rane Foundation. In term…

Rane Engine Valve Limited, Chennai vs. DCIT Corporate Circle 5(1), Chennai

In the result, the appeals filed by the assessee for assessment year 2012-13 in ITA No

ITA 2815/CHNY/2018[2014-15]Status: DisposedITAT Chennai03 Jul 2024AY 2014-15

Bench: Shri Mahavir Singhand Shri Amitabh Shukla

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri G. Suresh, JCIT

Section 143(3)