CIT v. Shriram Investments

422 ITR 528High Court2020#12786 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 348,356 Indian tax judgments — from 2021 to 2022.

Issues it is cited on

section 153a proceedingsexplanation to section 37section 158bdgoing concernprohibited by lawbusiness expediencysection 246commercial expediencysection 246asection 30section 200principal commissioner of income-tax

Judgments citing CIT v. Shriram Investments

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 328/BANG/2022[2013-14]Status: DisposedITAT Bangalore07 Oct 2022AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…ssessee is following cash system of accounting and hence any interest paid has to be allowed as a deduction. 10.11 Ld. A.R. further placed reliance on the decision of the Hon’ble Madras High Court in the case of CIT Vs. Shriram Investments reported in [2020] 422 ITR 528 [Mad]. He submitted that an expenditure may not be incurred under any legal obligation but it is allowable as business expenditure if it is incurred on ground of commercial expediency. He placed reliance on the decision of Addidas India Marketing [P] Limited Vs. AO, 10 Taxmann.com 18. 10.12 The Ld. A.R. for the assessee also stated that the Asses…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 327/BANG/2022[2012-13]Status: DisposedITAT Bangalore07 Oct 2022AY 2012-13

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…ssessee is following cash system of accounting and hence any interest paid has to be allowed as a deduction. 10.11 Ld. A.R. further placed reliance on the decision of the Hon’ble Madras High Court in the case of CIT Vs. Shriram Investments reported in [2020] 422 ITR 528 [Mad]. He submitted that an expenditure may not be incurred under any legal obligation but it is allowable as business expenditure if it is incurred on ground of commercial expediency. He placed reliance on the decision of Addidas India Marketing [P] Limited Vs. AO, 10 Taxmann.com 18. 10.12 The Ld. A.R. for the assessee also stated that the Asses…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 326/BANG/2022[2011-12]Status: DisposedITAT Bangalore07 Oct 2022AY 2011-12

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…ssessee is following cash system of accounting and hence any interest paid has to be allowed as a deduction. 10.11 Ld. A.R. further placed reliance on the decision of the Hon’ble Madras High Court in the case of CIT Vs. Shriram Investments reported in [2020] 422 ITR 528 [Mad]. He submitted that an expenditure may not be incurred under any legal obligation but it is allowable as business expenditure if it is incurred on ground of commercial expediency. He placed reliance on the decision of Addidas India Marketing [P] Limited Vs. AO, 10 Taxmann.com 18. 10.12 The Ld. A.R. for the assessee also stated that the Asses…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 325/BANG/2022[2010-11]Status: DisposedITAT Bangalore07 Oct 2022AY 2010-11

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…ssessee is following cash system of accounting and hence any interest paid has to be allowed as a deduction. 10.11 Ld. A.R. further placed reliance on the decision of the Hon’ble Madras High Court in the case of CIT Vs. Shriram Investments reported in [2020] 422 ITR 528 [Mad]. He submitted that an expenditure may not be incurred under any legal obligation but it is allowable as business expenditure if it is incurred on ground of commercial expediency. He placed reliance on the decision of Addidas India Marketing [P] Limited Vs. AO, 10 Taxmann.com 18. 10.12 The Ld. A.R. for the assessee also stated that the Asses…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 324/BANG/2022[2009-10]Status: DisposedITAT Bangalore07 Oct 2022AY 2009-10

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…ssessee is following cash system of accounting and hence any interest paid has to be allowed as a deduction. 10.11 Ld. A.R. further placed reliance on the decision of the Hon’ble Madras High Court in the case of CIT Vs. Shriram Investments reported in [2020] 422 ITR 528 [Mad]. He submitted that an expenditure may not be incurred under any legal obligation but it is allowable as business expenditure if it is incurred on ground of commercial expediency. He placed reliance on the decision of Addidas India Marketing [P] Limited Vs. AO, 10 Taxmann.com 18. 10.12 The Ld. A.R. for the assessee also stated that the Asses…

Wilfred D'Souza, Mangaluru vs. Assistant Commissioner of Income Tax, Central Circle-2, Mangaluru

In the result, ITA Nos.323 & 324/Bang/2022 are allowed and the appeals filed by the assessee in ITA Nos

ITA 323/BANG/2022[2008-09]Status: DisposedITAT Bangalore07 Oct 2022AY 2008-09

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Smt. S. Praveena, D.R
Section 132Section 143Section 153ASection 246A

…ssessee is following cash system of accounting and hence any interest paid has to be allowed as a deduction. 10.11 Ld. A.R. further placed reliance on the decision of the Hon’ble Madras High Court in the case of CIT Vs. Shriram Investments reported in [2020] 422 ITR 528 [Mad]. He submitted that an expenditure may not be incurred under any legal obligation but it is allowable as business expenditure if it is incurred on ground of commercial expediency. He placed reliance on the decision of Addidas India Marketing [P] Limited Vs. AO, 10 Taxmann.com 18. 10.12 The Ld. A.R. for the assessee also stated that the Asses…

Smt. Padma Kalani, Indore vs. ITO-1(3), Indore

In the result both the appeals of the assessee are allowed

ITA 87/IND/2020[2013-14]Status: DisposedITAT Indore30 Apr 2021AY 2013-14

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Roy

Section 143(2)Section 143(3)

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE HON’BLE MANISH BORAD, ACCOUNTANT MEMBER AND HON’BLE MADHUMITA ROY, JUDICIAL MEMBER ITA Nos.87 /Ind/2020 & 956/Ind/2019 Assessment Years 2013-14 & 2014-15 Smt. Padma Kalani, : Appellant Treasure Island, 6th floor, Indore PAN : AFXOK1177L V/s Income Tax Officer-3(1) Indore : Respondent Revenue by Shri Harshit Bari, Sr.DR Assessee by Shri Manjit Sanchdeva, Adv Date of Hearing 12.04.2021 Date of Pronouncement 30.04.2021 O R D E R PER MANISH BORAD, A.M The above captioned appeals filed at the instance of t…

Smt. Padma Kalani, Indore vs. ITO 3(1), Indore

In the result both the appeals of the assessee are allowed

ITA 956/IND/2019[2019]Status: DisposedITAT Indore30 Apr 2021

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Roy

Section 143(2)Section 143(3)

…आयकर अपील"य अ"धकरण, इंदौर "यायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE HON’BLE MANISH BORAD, ACCOUNTANT MEMBER AND HON’BLE MADHUMITA ROY, JUDICIAL MEMBER ITA Nos.87 /Ind/2020 & 956/Ind/2019 Assessment Years 2013-14 & 2014-15 Smt. Padma Kalani, : Appellant Treasure Island, 6th floor, Indore PAN : AFXOK1177L V/s Income Tax Officer-3(1) Indore : Respondent Revenue by Shri Harshit Bari, Sr.DR Assessee by Shri Manjit Sanchdeva, Adv Date of Hearing 12.04.2021 Date of Pronouncement 30.04.2021 O R D E R PER MANISH BORAD, A.M The above captioned appeals filed at the instance of t…