CIT v. Shree Balaji Glass Manufacturing Pvt. Ltd.

386 ITR 128High Court2016#24779 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2020.

Judgments citing CIT v. Shree Balaji Glass Manufacturing Pvt. Ltd.

DCIT, Circle - 10(2), Kolkata vs. M/S. Svarna Infrastructure & Builders Pvt. Ltd., Kolkata

In the result, the appeal of the Revenue is partly allowed for statistical purposes and the cross objection of the assessee is also partly allowed for statistical purposes to the extent indicated a...

ITA 1265/KOL/2018[2012-13]Status: DisposedITAT Kolkata10 Jun 2020AY 2012-13

Bench: Shri A.T.Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1265/Kol/2018 ("नधा"रणवष" / Assessment Year: 2012-13)

For Appellant: Smt. Ranu Biswas, Addl. CITFor Respondent: Shri R. P. Agarwal, Sr. Advocate & Shri Nirav Sheth, FCA
Section 143(3)Section 2(22)Section 2(22)(e)

…hat securities / share premium appearing under the head Reserves & Surplus cannot be construed as accumulated profits of the company as held by the Hon’ble Calcutta High Court in the matter of CIT, Kol-III vs. Shree Balaji Glass Manufacturing Pvt. Ltd. [2016] 386 ITR 128 (Calcutta) that where money was lent out of reserve and surplus representing share premium and not from accumulated profits, there M/s Svarna Infrastructure & Builders Pvt. Ltd. ITA No.1265/Kol/2018 &C. O. No. 86/Kol/2018 Assessment Year:2012-13 cannot be deemed dividend in hands of recipient. Hence, provisions of section 2(22)(e) is not applicab…

DCIT, Cir-10(1), Kolkata vs. M/S Bhoruka Investment Ltd., Kolkata

In the result the appeal by the assessee is allowed and the appeal by the revenue is dismissed

ITA 329/KOL/2016[2012-2013]Status: DisposedITAT Kolkata29 Nov 2017AY 2012-2013

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am]

For Appellant: Shri N.K.Poddar, Sr.AdvocateFor Respondent: Shri Soumyajit Dasgupta, Addl. CIT, Sr.DR
Section 10(38)Section 14A

…ard. On the question as to what can be regarded as substantial part of business of the assessee, the ld. Counsel for the assessee placed reliance on the decision of the Honble Calcutta High Court in the case of CIT vs Shree Balaji Glass Manufacturing Pvt. Ltd 386 ITR 128(Cal). The said decision supports ITA No.129 & 329/Kol/2016 M/s Bhoruka Investment Ltd. A.Y.2012-13 12 the plea of the assessee with regard to determination of the question with regard to what is substantial part of business of an assessee, viz., looking at the composition of the deployment of funds towards loans and advances to the total funds…

M/S Bhoruka Investment Ltd., Kolkata vs. DCIT, Cir-10(1), Kolkata

In the result the appeal by the assessee is allowed and the appeal by the revenue is dismissed

ITA 129/KOL/2016[2012-2013]Status: DisposedITAT Kolkata29 Nov 2017AY 2012-2013

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am]

For Appellant: Shri N.K.Poddar, Sr.AdvocateFor Respondent: Shri Soumyajit Dasgupta, Addl. CIT, Sr.DR
Section 10(38)Section 14A

…ard. On the question as to what can be regarded as substantial part of business of the assessee, the ld. Counsel for the assessee placed reliance on the decision of the Honble Calcutta High Court in the case of CIT vs Shree Balaji Glass Manufacturing Pvt. Ltd 386 ITR 128(Cal). The said decision supports ITA No.129 & 329/Kol/2016 M/s Bhoruka Investment Ltd. A.Y.2012-13 12 the plea of the assessee with regard to determination of the question with regard to what is substantial part of business of an assessee, viz., looking at the composition of the deployment of funds towards loans and advances to the total funds…

CIT v. Shree Balaji Glass Manufacturing Pvt. Ltd. (386 ITR 128) — Cited in 3 Judgments | BharatTax