CIT v. Tingri Tea Co. Ltd.

79 ITR 294High Court1971#11796 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2015 to 2025.

Sections most often in play

Section 14ASection 40(a)(ia)Section 115JB(2)Section 143(3)Section 8D(2)(ii)Section 8D(2)(iii)Section 153ASection 115JB

Issues it is cited on

slump saleaccumulated profitssection 115jb(2)interest free advancesbusiness expediencysection 254(1)disallowance under section 14asection 115jsection 40(a)section 40(a)(ia)disallowance u/s 14asection 254

Judgments citing CIT v. Tingri Tea Co. Ltd.

Deputy Commssioner of Income Tax (Central Circle) -3(3), Mumbai vs. M/S Welspun Enterprises Limited, Mumbai

In the result, the appeal of revenue for AY 2018-19 is dismissed

ITA 1763/MUM/2025[2014-15]Status: DisposedITAT Mumbai30 Sept 2025AY 2014-15

Bench: Shri Pawan Singh& Smt.Renu Jauhri

Section 115JSection 14ASection 254(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER& SMT.RENU JAUHRI, ACCOUNTANT MEMBER ITA No. 1763/MUM/2025 (AY: 2014-15) ITA No. 1676/MUM/2025 (AY: 2017-18) ITA No. 1678/MUM/2025 (AY: 2020-21) (Physical hearing) Deputy Commissioner of Income- M/s Welspun Enterprises Limited 4th Floor, Welspun House, Senapati tax (Central Circle)-3(3), Mumbai Vs Room No.404, Kautilya Bhavan Bapat Marg, Lower Parel, BKC, Mumbai-400 051 Delisle Road S.O. Mumbai-400 013 PAN : AABCM4107C Appellant / Revenue Respondent / Assessee Assessee by Shri Harsh Kapadia & Ajay Nagpal Advocates Rev…

Deputy Commssioner of Income Tax (Central Circle) -3(3), Mumbai vs. M/S. Welspun Enterprises Limited, Mumbai

In the result, the appeal of revenue for AY 2018-19 is dismissed

ITA 1762/MUM/2025[2013-14]Status: DisposedITAT Mumbai30 Sept 2025AY 2013-14

Bench: Shri Pawan Singh& Smt.Renu Jauhri

Section 115JSection 14ASection 254(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER& SMT.RENU JAUHRI, ACCOUNTANT MEMBER ITA No. 1763/MUM/2025 (AY: 2014-15) ITA No. 1676/MUM/2025 (AY: 2017-18) ITA No. 1678/MUM/2025 (AY: 2020-21) (Physical hearing) Deputy Commissioner of Income- M/s Welspun Enterprises Limited 4th Floor, Welspun House, Senapati tax (Central Circle)-3(3), Mumbai Vs Room No.404, Kautilya Bhavan Bapat Marg, Lower Parel, BKC, Mumbai-400 051 Delisle Road S.O. Mumbai-400 013 PAN : AABCM4107C Appellant / Revenue Respondent / Assessee Assessee by Shri Harsh Kapadia & Ajay Nagpal Advocates Rev…

Deputy Commssioner of Income Tax (Central Circle) -3(3), Mumbai vs. M/S. Welspun Enterprises Limited, Mumbai

In the result, the appeal of revenue for AY 2018-19 is dismissed

ITA 1678/MUM/2025[2020-21]Status: DisposedITAT Mumbai30 Sept 2025AY 2020-21

Bench: Shri Pawan Singh& Smt.Renu Jauhri

Section 115JSection 14ASection 254(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER& SMT.RENU JAUHRI, ACCOUNTANT MEMBER ITA No. 1763/MUM/2025 (AY: 2014-15) ITA No. 1676/MUM/2025 (AY: 2017-18) ITA No. 1678/MUM/2025 (AY: 2020-21) (Physical hearing) Deputy Commissioner of Income- M/s Welspun Enterprises Limited 4th Floor, Welspun House, Senapati tax (Central Circle)-3(3), Mumbai Vs Room No.404, Kautilya Bhavan Bapat Marg, Lower Parel, BKC, Mumbai-400 051 Delisle Road S.O. Mumbai-400 013 PAN : AABCM4107C Appellant / Revenue Respondent / Assessee Assessee by Shri Harsh Kapadia & Ajay Nagpal Advocates Rev…

Deputy Commssioner of Income Tax (Central Circle) -3(3), Mumbai vs. M/S. Welspun Enterprises Limited, Mumbai

In the result, the appeal of revenue for AY 2018-19 is dismissed

ITA 1677/MUM/2025[2018-19]Status: DisposedITAT Mumbai30 Sept 2025AY 2018-19

Bench: Shri Pawan Singh& Smt.Renu Jauhri

Section 115JSection 14ASection 254(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER& SMT.RENU JAUHRI, ACCOUNTANT MEMBER ITA No. 1763/MUM/2025 (AY: 2014-15) ITA No. 1676/MUM/2025 (AY: 2017-18) ITA No. 1678/MUM/2025 (AY: 2020-21) (Physical hearing) Deputy Commissioner of Income- M/s Welspun Enterprises Limited 4th Floor, Welspun House, Senapati tax (Central Circle)-3(3), Mumbai Vs Room No.404, Kautilya Bhavan Bapat Marg, Lower Parel, BKC, Mumbai-400 051 Delisle Road S.O. Mumbai-400 013 PAN : AABCM4107C Appellant / Revenue Respondent / Assessee Assessee by Shri Harsh Kapadia & Ajay Nagpal Advocates Rev…

Deputy Commssioner of Income Tax (Central Circle) -3(3), Mumbai vs. M/S. Welspun Enterprises Limited, Mumbai

In the result, the appeal of revenue for AY 2018-19 is dismissed

ITA 1676/MUM/2025[2017-18]Status: DisposedITAT Mumbai30 Sept 2025AY 2017-18

Bench: Shri Pawan Singh& Smt.Renu Jauhri

Section 115JSection 14ASection 254(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER& SMT.RENU JAUHRI, ACCOUNTANT MEMBER ITA No. 1763/MUM/2025 (AY: 2014-15) ITA No. 1676/MUM/2025 (AY: 2017-18) ITA No. 1678/MUM/2025 (AY: 2020-21) (Physical hearing) Deputy Commissioner of Income- M/s Welspun Enterprises Limited 4th Floor, Welspun House, Senapati tax (Central Circle)-3(3), Mumbai Vs Room No.404, Kautilya Bhavan Bapat Marg, Lower Parel, BKC, Mumbai-400 051 Delisle Road S.O. Mumbai-400 013 PAN : AABCM4107C Appellant / Revenue Respondent / Assessee Assessee by Shri Harsh Kapadia & Ajay Nagpal Advocates Rev…

Deputy Commssioner of Income Tax (Central Circle) -3(3), Mumbai vs. M/S. Welspun Enterprises Limited, Mumbai

In the result, the appeal of revenue for AY 2018-19 is dismissed

ITA 1675/MUM/2025[2016-17]Status: DisposedITAT Mumbai30 Sept 2025AY 2016-17

Bench: Shri Pawan Singh& Smt.Renu Jauhri

Section 115JSection 14ASection 254(1)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER& SMT.RENU JAUHRI, ACCOUNTANT MEMBER ITA No. 1763/MUM/2025 (AY: 2014-15) ITA No. 1676/MUM/2025 (AY: 2017-18) ITA No. 1678/MUM/2025 (AY: 2020-21) (Physical hearing) Deputy Commissioner of Income- M/s Welspun Enterprises Limited 4th Floor, Welspun House, Senapati tax (Central Circle)-3(3), Mumbai Vs Room No.404, Kautilya Bhavan Bapat Marg, Lower Parel, BKC, Mumbai-400 051 Delisle Road S.O. Mumbai-400 013 PAN : AABCM4107C Appellant / Revenue Respondent / Assessee Assessee by Shri Harsh Kapadia & Ajay Nagpal Advocates Rev…

Shree Balaji Umber Properties P. Ltd., Mumbai vs. DCIT-13(2)(2), Mumbai

ITA 1497/MUM/2020[2015-16]Status: DisposedITAT Mumbai30 Nov 2021AY 2015-16

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Ravish Sood, Hon'Bleshree Balaji Umber Properties Pvt. Ltd., V. Dcit – 13(2)(2) Unit No. 201, A Wing Mumbai - 400020 Fulcrum Sahar Road Next To Hyaat Regency, Andheri (E) Mumbai -400099 Pan: Aaacu9207C (Appellant) (Respondent) Assessee By : Shri Nishit Gandhi Ms. Akshita Bhandari Department By : Shri B.K. Bagchi

For Appellant: Shri Nishit GandhiFor Respondent: Shri B.K. Bagchi
Section 143(1)Section 143(2)

…t the loan has been utilised for the purpose of business, the deduction u/s 36(1)(iii) in respect of the said loan could not be denied. A useful reference could be made on the Judgements in the case of CIT v/s Changdeo - 143 ITR 469 (Bombay) &CIT v/s Tingri - 79 ITR 294 (Calcutta). Further in the case of CIT v/s Sridev Enterprises — (1991) 192 ITR 165 (Karnataka)it has been held that if interest is allowed as being for the purpose of business in earlier years, a different stand cannot be taken by the Department in the subsequent year in the same loan. Further even in the subsequent years the said claim of interes…

The Dy. CIT, Circle-1(1)(2), Ahmedabad vs. M/S. Corrtech Energy Ltd., Ahmedabad

In the result, the appeal of the revenue is dismissed

ITA 2581/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad25 Mar 2019AY 2014-15
For Appellant: Shri Afaq Saiyad, A.RFor Respondent: Shri Mudit Nagpal, Sr. D.R
Section 143(3)

…side and the issue is restored back to the file of AO for the limited purpose to recalculate disallowance of interest paid on borrowed funds, if any, in accordance with the above observations and as per provisions of IT Act.—CIT vs. Tingri Tea Co. Ltd. (1971) 79 ITR 294 (Cal) relied on." 15.1. The ld. Sr.DR could not controvert the finding of the Hon'ble coordinate Bench and nothing has been brought on record suggesting that the decision of the Hon'ble Tribunal in the case of Torrent Financiers(supra) is not applicable. Therefore, respectfully following the decision of Hon'ble coordinate Bench, we hereby set asid…

Sakthi Auto Components Limited, Chennai vs. DCIT, Coimbatore

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

ITA 1071/CHNY/2013[2008-09]Status: DisposedITAT Chennai04 Feb 2015AY 2008-09

Bench: Shri B.R. Baskaran & Shri S.S. Godaraआयकर अपील सं./Ita No. 1071/Mds/2013 "नधा"रण वष" /Assessment Year : 2008-09 M/S Sakthi Auto Components The Deputy Commissioner Of Limited, V. Income Tax, No.180, Race Course, Company Circle – I(1), Coimbatore – 641 018. Coimbatore – 641 018. Pan : Aaecs 6536 J (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri R. Vijayaraghavan, AdvocateFor Respondent: Shri N. Rengaraj, CIT
Section 143(3)Section 36(1)(iii)

…any made, for disbursing the dividend income is not allowable as expenditure. He submitted that in the following cases, it has been held that the interest paid on amount borrowed for payment of dividend is allowable as deduction:- (a) Tingri tea Company Ltd. 79 ITR 294 (Cal.) (b) CIT v. Calcutta Electric Supply Corporation 166 ITR 797 (Cal.) (c) Shree Changdeo Sugar Mills 143 ITR 469 (Bom.) (d) Kesar Sugar Works 140 CTR 431 (Bom.) (e) Kirloskar Electric Co. Ltd. 228 ITR 674 (Kar.) (f) CIT v. Phalton Sugar Works Ltd. 162 ITR 622 (Bom.) (g) CIT v. Belapur Co. Ltd. 161 ITR 516 (Bom.) 4 I.T.A. No. 1071/Mds/13 Acco…

CIT v. Tingri Tea Co. Ltd. (79 ITR 294) — Cited in 9 Judgments | BharatTax