CIT v. Suzlon Energy Ltd. (

138 TTJ 244Income Tax Appellate Tribunal#12143 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2019.

Judgments citing CIT v. Suzlon Energy Ltd. (

Crompton Greaves Ltd, Mumbai vs. DCIT Cir 6(2), Mumbai

In the result, the assessee’s appeal in ITA No

ITA 5390/MUM/2017[2009-10]Status: DisposedITAT Mumbai27 Sept 2019AY 2009-10

Bench: Shri A. D. Jain, Vp & Shri Rajesh Kumar, Am Asst. Cit-6(2)(1) M/S. Crompton Greaves Ltd. R. No.504/563-C, 5Th Floor, 6Th Floor, Cg House, Vs. Aayakar Bhavan, M. K. Road, Dr. Annie Besant Road, Worli, Mumbai-400 020 Mumbai-400 030 Pan/Gir No. Aaacc 2089 A (Revenue) : (Assessee) & M/S. Crompton Greaves Ltd. Asst. Cit-6(2)(1) 6Th Floor, Cg House, R. No.504/563-C, 5Th Floor, Vs. Dr. Annie Besant Road, Worli, Aayakar Bhavan, M. K. Road, Mumbai-400 030 Mumbai-400 020 Pan/Gir No. Aaacc 2089 A (Assessee) : (Revenue) : Shri A. M. Mittal Revenue By Assessee By : Shri Pradip Kapasi Date Of Hearing : 23.09.2019 Date Of Pronouncement : 27.09.2019

For Appellant: Shri Pradip Kapasi
Section 14(1)Section 14ASection 35

…estments were made wholly out of borrowed funds; that as such, the disallowance requires deletion. Reference has been made to these decisions:  K. Raheja Corporation P. Limited  Minda Investment Ltd. 138 TTJ 240 (Delhi) (2011)  Maharashtra Seamless Ltd. 138 TTJ 244 (Delhi) (2011)  SIL Investment Ltd. 54 SOT 54 (Delhi) (2012) 31. The ld. Counsel of the assessee has contended that last but not the least, without prejudice, the disallowance ought to be, if at all, sustained to the expenditure actually incurred, which is an amount of Rs.7,91,181/- paid as salary to the treasury Manager. For this, reliance h…

ACIT 6(2)(1), Mumbai vs. Crompton Greaves Limited, Mumbai

In the result, the assessee’s appeal in ITA No

ITA 5295/MUM/2017[2009-10]Status: DisposedITAT Mumbai27 Sept 2019AY 2009-10

Bench: Shri A. D. Jain, Vp & Shri Rajesh Kumar, Am Asst. Cit-6(2)(1) M/S. Crompton Greaves Ltd. R. No.504/563-C, 5Th Floor, 6Th Floor, Cg House, Vs. Aayakar Bhavan, M. K. Road, Dr. Annie Besant Road, Worli, Mumbai-400 020 Mumbai-400 030 Pan/Gir No. Aaacc 2089 A (Revenue) : (Assessee) & M/S. Crompton Greaves Ltd. Asst. Cit-6(2)(1) 6Th Floor, Cg House, R. No.504/563-C, 5Th Floor, Vs. Dr. Annie Besant Road, Worli, Aayakar Bhavan, M. K. Road, Mumbai-400 030 Mumbai-400 020 Pan/Gir No. Aaacc 2089 A (Assessee) : (Revenue) : Shri A. M. Mittal Revenue By Assessee By : Shri Pradip Kapasi Date Of Hearing : 23.09.2019 Date Of Pronouncement : 27.09.2019

For Appellant: Shri Pradip Kapasi
Section 14(1)Section 14ASection 35

…estments were made wholly out of borrowed funds; that as such, the disallowance requires deletion. Reference has been made to these decisions:  K. Raheja Corporation P. Limited  Minda Investment Ltd. 138 TTJ 240 (Delhi) (2011)  Maharashtra Seamless Ltd. 138 TTJ 244 (Delhi) (2011)  SIL Investment Ltd. 54 SOT 54 (Delhi) (2012) 31. The ld. Counsel of the assessee has contended that last but not the least, without prejudice, the disallowance ought to be, if at all, sustained to the expenditure actually incurred, which is an amount of Rs.7,91,181/- paid as salary to the treasury Manager. For this, reliance h…

Saurashtra Fuels P.Ltd, Mumbai vs. DCIT Cir 3(3), Mumbai

In the result, assessee appeal in ITA No 7274/Mum/2012 for assessment year 2009-10 is partly allowed

ITA 7273/MUM/2012[2007-08]Status: DisposedITAT Mumbai06 Jun 2016AY 2007-08

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Respondent: Shri Ritesh Mishra(D.R.)
Section 143(2)Section 143(3)Section 14ASection 80M

…t can be disallowed as the entire investment in shares and mutual funds have been made out of own funds and not out of borrowed funds. The assessee company relied upon following judgments in support of its contentions: a) DCIT v. Maharashtra Seamless Limited 138 TTJ 244(Del) b) Yatish Trading Company Private Limited v. ACIT 129 ITD 237(Mum.) c) G.D.Metsteel Private Limited v. ACIT 47 SOT 62(Mum.) d) CIT v. Winsome Textiles Industries Limited 319 ITR 204(P&H HC) e) CIT v. Hero Cycles 323 ITR 518(P&H) f) Voltas Limited v. JCIT 125 TTJ 601(Mum.) g) K.J.Arora v. DCIT 180 Taxman 131(Del.) h) Dishman Pharmaceuticals &…

DCIT vs. M/S United Spirits Ltd

In the result, the assessee’s appeals for assessment years 2007-08, 2008-09 and 2009-10 are treated as allowed for statistical purposes

ITA 653/BANG/2013[2009-10]Status: DisposedITAT Bangalore31 Mar 2015AY 2009-10

Bench: Smt. P. Madhavi Devi & Shri Abraham P George & Ita Nos.424 & 605(Bang)/2013 (Assessment Years: 2008-09 & 2009-10)

For Appellant: Shri K.R.Pradeep, CAFor Respondent: Shri C.H.Sundar Rao, CIT(DR)
Section 14A

…tended by the learned Authorised Representative that even in such cases, no proportionate disallowance, as made by the authorities below, could be sustained as held in the cases of CIT V Suzlon Energy Ltd. (354 ITR 630) (Guj); DCIT V Maharashtra Seamless Ltd. 138 TTJ 244 (ITAT, Delhi) and Voltas Ltd. V ACIT 125 TTJ 601 (ITAT, Mumbai). 8.3.3 The learned Authorised Representative further submitted that the Assessing Officer had made a factual error at page 10 of the order of assessment by holding that the assessee's net own funds were negative even though the net worth was over Rs.896 Crores. Even out of the total…

DCIT vs. M/S United Spirits Ltd

In the result, the assessee’s appeals for assessment years 2007-08, 2008-09 and 2009-10 are treated as allowed for statistical purposes

ITA 652/BANG/2013[2008-09]Status: DisposedITAT Bangalore31 Mar 2015AY 2008-09

Bench: Smt. P. Madhavi Devi & Shri Abraham P George & Ita Nos.424 & 605(Bang)/2013 (Assessment Years: 2008-09 & 2009-10)

For Appellant: Shri K.R.Pradeep, CAFor Respondent: Shri C.H.Sundar Rao, CIT(DR)
Section 14A

…tended by the learned Authorised Representative that even in such cases, no proportionate disallowance, as made by the authorities below, could be sustained as held in the cases of CIT V Suzlon Energy Ltd. (354 ITR 630) (Guj); DCIT V Maharashtra Seamless Ltd. 138 TTJ 244 (ITAT, Delhi) and Voltas Ltd. V ACIT 125 TTJ 601 (ITAT, Mumbai). 8.3.3 The learned Authorised Representative further submitted that the Assessing Officer had made a factual error at page 10 of the order of assessment by holding that the assessee's net own funds were negative even though the net worth was over Rs.896 Crores. Even out of the total…

United Spirits Ltd vs. ACIT

In the result, the assessee’s appeals for assessment years 2007-08, 2008-09 and 2009-10 are treated as allowed for statistical purposes

ITA 605/BANG/2013[2009-10]Status: DisposedITAT Bangalore31 Mar 2015AY 2009-10

Bench: Smt. P. Madhavi Devi & Shri Abraham P George & Ita Nos.424 & 605(Bang)/2013 (Assessment Years: 2008-09 & 2009-10)

For Appellant: Shri K.R.Pradeep, CAFor Respondent: Shri C.H.Sundar Rao, CIT(DR)
Section 14A

…tended by the learned Authorised Representative that even in such cases, no proportionate disallowance, as made by the authorities below, could be sustained as held in the cases of CIT V Suzlon Energy Ltd. (354 ITR 630) (Guj); DCIT V Maharashtra Seamless Ltd. 138 TTJ 244 (ITAT, Delhi) and Voltas Ltd. V ACIT 125 TTJ 601 (ITAT, Mumbai). 8.3.3 The learned Authorised Representative further submitted that the Assessing Officer had made a factual error at page 10 of the order of assessment by holding that the assessee's net own funds were negative even though the net worth was over Rs.896 Crores. Even out of the total…

United Spirtis Limited vs. ACIT

In the result, the assessee’s appeals for assessment years 2007-08, 2008-09 and 2009-10 are treated as allowed for statistical purposes

ITA 424/BANG/2013[2008-09]Status: DisposedITAT Bangalore31 Mar 2015AY 2008-09

Bench: Smt. P. Madhavi Devi & Shri Abraham P George & Ita Nos.424 & 605(Bang)/2013 (Assessment Years: 2008-09 & 2009-10)

For Appellant: Shri K.R.Pradeep, CAFor Respondent: Shri C.H.Sundar Rao, CIT(DR)
Section 14A

…tended by the learned Authorised Representative that even in such cases, no proportionate disallowance, as made by the authorities below, could be sustained as held in the cases of CIT V Suzlon Energy Ltd. (354 ITR 630) (Guj); DCIT V Maharashtra Seamless Ltd. 138 TTJ 244 (ITAT, Delhi) and Voltas Ltd. V ACIT 125 TTJ 601 (ITAT, Mumbai). 8.3.3 The learned Authorised Representative further submitted that the Assessing Officer had made a factual error at page 10 of the order of assessment by holding that the assessee's net own funds were negative even though the net worth was over Rs.896 Crores. Even out of the total…

M/S. United Spirits Ltd., Bangalore vs. ACIT, Bangalore

In the result, the assessee’s appeals for assessment years 2007-08, 2008-09 and 2009-10 are treated as allowed for statistical purposes

ITA 1277/BANG/2010[2007-08]Status: DisposedITAT Bangalore31 Mar 2015AY 2007-08

Bench: Smt. P. Madhavi Devi & Shri Abraham P George & Ita Nos.424 & 605(Bang)/2013 (Assessment Years: 2008-09 & 2009-10)

For Appellant: Shri K.R.Pradeep, CAFor Respondent: Shri C.H.Sundar Rao, CIT(DR)
Section 14A

…tended by the learned Authorised Representative that even in such cases, no proportionate disallowance, as made by the authorities below, could be sustained as held in the cases of CIT V Suzlon Energy Ltd. (354 ITR 630) (Guj); DCIT V Maharashtra Seamless Ltd. 138 TTJ 244 (ITAT, Delhi) and Voltas Ltd. V ACIT 125 TTJ 601 (ITAT, Mumbai). 8.3.3 The learned Authorised Representative further submitted that the Assessing Officer had made a factual error at page 10 of the order of assessment by holding that the assessee's net own funds were negative even though the net worth was over Rs.896 Crores. Even out of the total…

CIT v. Suzlon Energy Ltd. ( (138 TTJ 244) — Cited in 8 Judgments | BharatTax