CIT v. Sarva Equity (P) Ltd.

111 DTR 207Reported decision2014#22007 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2018 to 2022.

Judgments citing CIT v. Sarva Equity (P) Ltd.

DCIT 15(2)(2), Mumbai vs. M/S Madhu India Deco Ltd, Mumbai

In the result, the appeal of the revenue is stand dismissed

ITA 1385/MUM/2020[2014-15]Status: DisposedITAT Mumbai05 Aug 2022AY 2014-15

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singhdcit-15(2)(2) Vs. M/S Madhu India Deco Room No. 357, 3Rd Floor, Limited, 20/21, Aayakar Bhavan, M.K. Navnandavan Indl Estate, Road, Marine Lines, L.B.S Marg, Mulund Mumbai – 400 020 (West), Mumbai – 400 080 स्थायी लेखा सं./ जीआइआर सं./ Pan/Gir No: Aadcp1825G Respondent .. Appellant

For Appellant: Shri Malav ShethFor Respondent: Smt. Mahita Nair

Section 143(2)Section 143(3)Section 2(22)Section 2(22)(e)

…in the case of CIT Universal Medicare Pvt. Ltd., 324 ITR 263 (Bom), CIT Vs. Ankitech Pvt Ltd. & others 340 ITR 14 (Del), National Travel Services (2012) 249 CTR (del) 540 and the Hon'ble Karnataka High Court in the case of CIT Vs. Sarva Equity (P) Ltd, (2014) 111 DTR 207 (Karn) and the Hon'ble Supreme Court in the case of CIT VS Madhur Housing and Development Co. 401 ITR 152(SC). Since the appellant in the present case is not a shareholder in the lender company, we are of the view that the above decision is squarely applicable to the facts of the appellant's case. Accordingly, the addition made by the AO is hereb…

Microfinish Valves Private Limited, Hubli vs. Asst.C.I.T., Hubli

In the result, the assessee’s appeal for Assessment Year 2011-12 is partly allowed

ITA 1449/BANG/2015[2011-12]Status: DisposedITAT Bangalore12 Apr 2019AY 2011-12

Bench: Shri N. V. Vasudevan & Shri Jason P Boazit(It)A No.1449/Bang/2015 Assessment Year : 2011-12

For Appellant: Shri. Ravishankar, AdvocateFor Respondent: Dr. Shankar Prasad, Addl. CIT

Section 143(1)Section 143(3)Section 2(22)(e)Section 40Section 43B

…case of CIT Vs. Universal Medicare Pvt. Ltd., 324 ITR 263 (Born), CIT Vs. Ankitech Pvt.Ltd. & others 340 ITR 14 (Del.), National Travel Services (2012) 249 CTR (del) 540 and the Hon'ble Karnataka High Court in the case of CIT Vs. Sarva Equity (P) Ltd., (2014) 111 DTR 207 (Kam.) and the Hon'ble Supreme Court in the case of CIT Vs. Madhur Housing and Development Co. 401 ITR 152(SC). Since the Assessee in the present case is not a shareholder in the lender company, we are of the view that the above decision is squarely applicable to the facts of the Assessee's case. 15. In view of the aforesaid decision, we are of…

Microfinish Valves Pvt Ltd, Hubli vs. The Assistant Commissioner of Income Tax, Circle-2(1), Hubli

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

ITA 1706/BANG/2017[2012-13]Status: DisposedITAT Bangalore16 Nov 2018AY 2012-13

Bench: Shri N.V. Vasudevan & Shri Inturi Rama Raoassessment Year : 2012-13

For Appellant: Shri S.V. Ravishankar, AdvocateFor Respondent: Dr. P.V. Pradeep Kumar, Addl.CIT(DR)(ITAT), Bengaluru

Section 2(22)(e)

…case of CIT Vs. Universal Medicare Pvt. Ltd., 324 ITR 263 (Bom), CIT Vs. Ankitech Pvt.Ltd. & others 340 ITR 14 (Del.), National Travel Services (2012) 249 CTR (del) 540 and the Hon’ble Karnataka High Court in the case of CIT Vs. Sarva Equity (P) Ltd., (2014) 111 DTR 207 (Karn.) and the Hon’ble Supreme Court in the case of CIT Vs. Madhur Housing and Development Co. 401 ITR 152(SC). Since the Assessee in the present case is not a shareholder in the lender company, we are of the view that the above decision is squarely applicable to the facts of the Assessee’s case. 15. In view of the aforesaid decision, we are of…