CIT v. T.T.D Co-operative Stores Ltd.

232 ITR 109High Court1998#13792 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2018 to 2021.

Judgments citing CIT v. T.T.D Co-operative Stores Ltd.

M/S Karnataka State Co-Operative Apex Bank Ltd vs. Deputy Commissioner of Income Tax

In the result, the impugned order dated

ITA/275/2015HC Karnataka01 Mar 2021

Bench: ALOK ARADHE,ASHOK S.KINAGI

Section 143(1)Section 143(3)Section 260Section 260ASection 27

…K PRODUCERS UNION LTD. VS. 7 CIT', (1993) 203 ITR 601 (GUJARAT), 'KRISHNA SAHAKARI SAKHAR KARKHAN LTD. VS. CIT', (1998) 229 ITR 577 (BOMBAY), 'MYSORE KIRLOSKAR LTD. VS. CIT[', (1987) 166 ITR 836 (KARNATAKA), 'T.T.D. CO-OPERTIVE STORES LTD, (1998) 232 ITR 109 (AP), 'CIT VS. PANDAVAPURA SHAKARA SAKKARE KARKHANE LTD', (1988) 14 ITR 457 (KARNATAKA), 'SASSOON J. DAVID AND CO.P.LTD VS. CIT', (1979) 118 ITR 261, 'CIT VS. INFOSYS TECHNOLOGIES LTD', (2012) 349 ITR 582, 'KARJAN CO-OPERATIVE COTTON SALES GINNING ANDPRESSING SOCIETY VS. CIT (1993) 199 ITR 17 (GUJARAT), 'CIT VS MALAYALAM PLANTATIONS…

M/S. the Jampeta Co- Op Urban Bank Ltd, Rajahmundry vs. The Joit CIT, Rajahmundry

In the result, appeals filed by the assessee in ITA No

ITA 160/VIZ/2017[2011-2012]Status: DisposedITAT Visakhapatnam28 May 2018AY 2011-2012

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble & The Jampeta Co-Operative Vs. Acit, Circle-1, Urban Bank Ltd., Jampeta, Rajahmundry. Rajahmundry. Pan No. Aaaat 4048 E (Appellant) (Respondent)

For Appellant: Shri G.V.N. Hari, AdvocateFor Respondent: Shri S. Ravi Shankar Narayan, Sr.DR
Section 143(1)Section 143(3)Section 16Section 45

…ayment of share of profit to the financiers in lieu of interest is not uncommon and hence, if such a payment was made on the ground of commercial expediency, the same is allowable as deduction. (j) In the case of CIT Vs. T.T.D Co-operative Stores Ltd., (1998)(232 ITR 109)(A.P), the rebate to be given to its members was ascertained only at the end of the year at the time of making up of accounts. The revenue treated the said payment as appropriation of profit. However, the Hon'ble Andhra Pradesh High Court has held that the rebate so given is not part of profit at all but it goes to reduce the price of the goods s…

The Aryapuram Co-Operative Urban Bank Ltd., Rajahmundry vs. The ACIT, Circle - 1, Rajahmundry

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

ITA 177/VIZ/2013[2009-10]Status: DisposedITAT Visakhapatnam28 May 2018AY 2009-10

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri Deba Kumar Sonawal – CIT DR
Section 143(3)Section 144Section 148Section 43Section 43B

…ers in lieu of interest is not uncommon and hence, if such a payment was made on the ground of commercial expediency, the same is allowable as deduction. (The Aryapuram Co-op. Urban Bank Ltd.) (j) In the case of CIT Vs. T.T.D Co-operative Stores Ltd., (1998)(232 ITR 109)(A.P), the rebate to be given to its members was ascertained only at the end of the year at the time of making up of accounts. The revenue treated the said payment as appropriation of profit. However, the Hon'ble Andhra Pradesh High Court has held that the rebate so given is not part of profit at all but it goes to reduce the price of the goods s…

The Jampeta Co-Operative Urban Bank Ltd., Rajahmundry vs. The ACIT, Circle - 1, Rajahmundry

In the result, appeals filed by the assessee in ITA No

ITA 510/VIZ/2014[2010-11]Status: DisposedITAT Visakhapatnam28 May 2018AY 2010-11

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble & The Jampeta Co-Operative Vs. Acit, Circle-1, Urban Bank Ltd., Jampeta, Rajahmundry. Rajahmundry. Pan No. Aaaat 4048 E (Appellant) (Respondent)

For Appellant: Shri G.V.N. Hari, AdvocateFor Respondent: Shri S. Ravi Shankar Narayan, Sr.DR
Section 143(1)Section 143(3)Section 16Section 45

…ayment of share of profit to the financiers in lieu of interest is not uncommon and hence, if such a payment was made on the ground of commercial expediency, the same is allowable as deduction. (j) In the case of CIT Vs. T.T.D Co-operative Stores Ltd., (1998)(232 ITR 109)(A.P), the rebate to be given to its members was ascertained only at the end of the year at the time of making up of accounts. The revenue treated the said payment as appropriation of profit. However, the Hon'ble Andhra Pradesh High Court has held that the rebate so given is not part of profit at all but it goes to reduce the price of the goods s…

The ACIT, Circle - 1, Rajahmundry vs. M/Sthe Aryapuram Co-Oprative Urban Bank Ltd., Rajahmundry

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

ITA 195/VIZ/2013[2009-10]Status: DisposedITAT Visakhapatnam28 May 2018AY 2009-10

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri Deba Kumar Sonawal – CIT DR
Section 143(3)Section 144Section 148Section 43Section 43B

…ers in lieu of interest is not uncommon and hence, if such a payment was made on the ground of commercial expediency, the same is allowable as deduction. (The Aryapuram Co-op. Urban Bank Ltd.) (j) In the case of CIT Vs. T.T.D Co-operative Stores Ltd., (1998)(232 ITR 109)(A.P), the rebate to be given to its members was ascertained only at the end of the year at the time of making up of accounts. The revenue treated the said payment as appropriation of profit. However, the Hon'ble Andhra Pradesh High Court has held that the rebate so given is not part of profit at all but it goes to reduce the price of the goods s…

The Aryapuram Co-Operative Urban Bank Ltd., Rajahmundry vs. The ACIT, Rajahmundry

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

ITA 173/VIZ/2015[2011-12]Status: DisposedITAT Visakhapatnam28 May 2018AY 2011-12

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri Deba Kumar Sonawal – CIT DR
Section 143(3)Section 144Section 148Section 43Section 43B

…ers in lieu of interest is not uncommon and hence, if such a payment was made on the ground of commercial expediency, the same is allowable as deduction. (The Aryapuram Co-op. Urban Bank Ltd.) (j) In the case of CIT Vs. T.T.D Co-operative Stores Ltd., (1998)(232 ITR 109)(A.P), the rebate to be given to its members was ascertained only at the end of the year at the time of making up of accounts. The revenue treated the said payment as appropriation of profit. However, the Hon'ble Andhra Pradesh High Court has held that the rebate so given is not part of profit at all but it goes to reduce the price of the goods s…

Aryapuram Co=Op. Urbank Ltd., Rajahmundry vs. The ACIT, Rajahmundry

In the result, all the appeals filed by the assessee are partly allowed for statistical purposes; and the appeal filed by the Revenue is dismissed

ITA 517/VIZ/2014[2010-11]Status: DisposedITAT Visakhapatnam28 May 2018AY 2010-11

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri G.V.N. Hari – AdvocateFor Respondent: Shri Deba Kumar Sonawal – CIT DR
Section 143(3)Section 144Section 148Section 43Section 43B

…ers in lieu of interest is not uncommon and hence, if such a payment was made on the ground of commercial expediency, the same is allowable as deduction. (The Aryapuram Co-op. Urban Bank Ltd.) (j) In the case of CIT Vs. T.T.D Co-operative Stores Ltd., (1998)(232 ITR 109)(A.P), the rebate to be given to its members was ascertained only at the end of the year at the time of making up of accounts. The revenue treated the said payment as appropriation of profit. However, the Hon'ble Andhra Pradesh High Court has held that the rebate so given is not part of profit at all but it goes to reduce the price of the goods s…

CIT v. T.T.D Co-operative Stores Ltd. (232 ITR 109) — Cited in 7 Judgments | BharatTax