CIT v. Tingri Tea Co. Ltd. (

84 ITD 563Income Tax Appellate Tribunal2003#9367 most cited
12

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 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

accumulated profitsslump salesection 115jb(2)interest free advancesbusiness expediencysection 254(1)disallowance under section 14adisallowance u/s 14asection 115jsection 40(a)section 40(a)(ia)section 254

Judgments citing CIT v. Tingri Tea Co. Ltd. (

DEPUTY COMMSSIONER OF INCOME TAX (CENTRAL CIRCLE) -3(3), MUMBAI, 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

…terest-free funds, including shareholders’ funds amounting to Rs.485.15 Crore compared to debts of Rs.35.00 crore, thus the ld CIT(A) also relied on the decisions in in CIT v. Tingri Tea Co. Ltd. (79 ITR 294) and Meenakshi Synthetics (P) Ltd. v. Asst. CIT (84 ITD 563). 17. It was also held that assessee emphasized that the issue of interest disallowance on alleged interest-free advances to associated concerns had already been examined in earlier assessment years by the Tribunal. In the assessment years 2009-2010 and 2012-2013, the Tribunal had conclusively held that when an assessee possesses sufficient int…

DEPUTY COMMSSIONER OF INCOME TAX (CENTRAL CIRCLE) -3(3), MUMBAI, 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

…terest-free funds, including shareholders’ funds amounting to Rs.485.15 Crore compared to debts of Rs.35.00 crore, thus the ld CIT(A) also relied on the decisions in in CIT v. Tingri Tea Co. Ltd. (79 ITR 294) and Meenakshi Synthetics (P) Ltd. v. Asst. CIT (84 ITD 563). 17. It was also held that assessee emphasized that the issue of interest disallowance on alleged interest-free advances to associated concerns had already been examined in earlier assessment years by the Tribunal. In the assessment years 2009-2010 and 2012-2013, the Tribunal had conclusively held that when an assessee possesses sufficient int…

DEPUTY COMMSSIONER OF INCOME TAX (CENTRAL CIRCLE) -3(3), MUMBAI, 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

…terest-free funds, including shareholders’ funds amounting to Rs.485.15 Crore compared to debts of Rs.35.00 crore, thus the ld CIT(A) also relied on the decisions in in CIT v. Tingri Tea Co. Ltd. (79 ITR 294) and Meenakshi Synthetics (P) Ltd. v. Asst. CIT (84 ITD 563). 17. It was also held that assessee emphasized that the issue of interest disallowance on alleged interest-free advances to associated concerns had already been examined in earlier assessment years by the Tribunal. In the assessment years 2009-2010 and 2012-2013, the Tribunal had conclusively held that when an assessee possesses sufficient int…

DEPUTY COMMSSIONER OF INCOME TAX (CENTRAL CIRCLE) -3(3), MUMBAI, 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

…terest-free funds, including shareholders’ funds amounting to Rs.485.15 Crore compared to debts of Rs.35.00 crore, thus the ld CIT(A) also relied on the decisions in in CIT v. Tingri Tea Co. Ltd. (79 ITR 294) and Meenakshi Synthetics (P) Ltd. v. Asst. CIT (84 ITD 563). 17. It was also held that assessee emphasized that the issue of interest disallowance on alleged interest-free advances to associated concerns had already been examined in earlier assessment years by the Tribunal. In the assessment years 2009-2010 and 2012-2013, the Tribunal had conclusively held that when an assessee possesses sufficient int…

DEPUTY COMMSSIONER OF INCOME TAX (CENTRAL CIRCLE) -3(3), MUMBAI, 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

…terest-free funds, including shareholders’ funds amounting to Rs.485.15 Crore compared to debts of Rs.35.00 crore, thus the ld CIT(A) also relied on the decisions in in CIT v. Tingri Tea Co. Ltd. (79 ITR 294) and Meenakshi Synthetics (P) Ltd. v. Asst. CIT (84 ITD 563). 17. It was also held that assessee emphasized that the issue of interest disallowance on alleged interest-free advances to associated concerns had already been examined in earlier assessment years by the Tribunal. In the assessment years 2009-2010 and 2012-2013, the Tribunal had conclusively held that when an assessee possesses sufficient int…

DEPUTY COMMSSIONER OF INCOME TAX (CENTRAL CIRCLE) -3(3), MUMBAI, 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

…terest-free funds, including shareholders’ funds amounting to Rs.485.15 Crore compared to debts of Rs.35.00 crore, thus the ld CIT(A) also relied on the decisions in in CIT v. Tingri Tea Co. Ltd. (79 ITR 294) and Meenakshi Synthetics (P) Ltd. v. Asst. CIT (84 ITD 563). 17. It was also held that assessee emphasized that the issue of interest disallowance on alleged interest-free advances to associated concerns had already been examined in earlier assessment years by the Tribunal. In the assessment years 2009-2010 and 2012-2013, the Tribunal had conclusively held that when an assessee possesses sufficient int…

RAVINDRA MADANLAL KHANDELWAL,AKOLA vs. DCIT/ACIT CIRCLE , AKOLA

In the result, appeal filed by the assessee is allowed for statistical purposes

ITA 375/NAG/2024[2018-19]Status: DisposedITAT Nagpur18 Nov 2024AY 2018-19

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mahavir AtalFor Respondent: Shri Sandipkumar Salunke
Section 142(1)Section 143Section 144BSection 68

…e on loans taken by it in the absence of any nexus between borrowed capital and interest-free advances or in the absence of any finding that borrowed funds or part thereof was diverted towards interest-free advances-Meenakshi Synthetics (P) Ltd. v. CIT [2003] 84 ITD 563 (Lucknow). Where nothing has been brought on record by the revenue to prove that interest-bearing funds available with the assessee is not utilised for the purpose of business but is given as interest-free loans or advances, 32 Ravindra Madanlal Khandelwal ITA no.375/Nag./2024 disallowance of interest on borrowed capital is unjustified-ITO v. Na…

ITO, NEW DELHI vs. M/S ANSAL HOUSING & CONSTRUCTION LTD., NEW DELHI

In the result, the cross-objection filed by the assessee is dismissed

ITA 2731/DEL/2010[2007-08]Status: DisposedITAT Delhi26 Jul 2024AY 2007-08

Bench: Shri G.S.Pannu & Shri Kul Bharat[Assessment Year : 2007-08] Dcit, Vs Ansal Housing & Construction Ltd., Central Circle-20, Ugf-15, Indraprastha Building, 21, New Delhi. Barakhamba Road, New Delhi. Pan-Aaaca0377R Appellant Respondent

Section 143(3)Section 14ASection 80Section 80I

…• CIT v. Sridev Enterprises: 192 ITR 165 (Kar.) • CIT vs. Givo Ltd.: ITA No. 94112010 (Del.) • CIT v. Gujarat Narmada Valley Fertilizers Co. Ltd.: 221 Taxman 479 (Guj.) • Punjab Woolcombers Ltd. v. ACIT: (2004) 1 SOT 114 (Chand) • Meenakshi Synthetics vs CIT: 84 ITD 563 (Lucknow) • GR Agencies vs ITO; 79 TTJ 496 (Lucknow) In view of the above, it is respectfully submitted that there was no warrant to allocate any interest expenditure incurred by the Head Office to the eligible units since no part of interest-bearing funds were utilized for making investment or for undertaking regular operations in the eligible un…

M/S. VERACIOUS BUILDERS & DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 7(1)(2), BANGALORE

In the result, both the appeals filed by the assessee are dismissed

ITA 952/BANG/2019[2015-16]Status: DisposedITAT Bangalore09 Aug 2019AY 2015-16

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

For Appellant: NoneFor Respondent: Shri M. Rajasekhar, Addl. CIT (DR)
Section 36(1)(iii)

…Trading Co., (1982) 13 TTJ (Pat) 204, 206 -wherein the learned authority has upheld the fact that interest was allowed as deduction since Tribunal found that the loans were not diverted for non- business purposes. c. Meenakshi Synthetics (P) Ltd V. CIT (2003) 84 ITD 563 (Lucknow) wherein the learned authority has upheld the fact that Non-charging of interest on loans given by an assessee cannot itself be a sufficient ground for disallowing interest paid by an assessee on loans taken by it in the absence of any nexus between borrowed capital and interest free advances or in the absence of any finding that borrowed…

M/S. VERACIOUS BUILDERS & DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 7(1)(2) , BANGALORE

In the result, both the appeals filed by the assessee are dismissed

ITA 951/BANG/2019[2014-15]Status: DisposedITAT Bangalore09 Aug 2019AY 2014-15

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

For Appellant: NoneFor Respondent: Shri M. Rajasekhar, Addl. CIT (DR)
Section 36(1)(iii)

…Trading Co., (1982) 13 TTJ (Pat) 204, 206 -wherein the learned authority has upheld the fact that interest was allowed as deduction since Tribunal found that the loans were not diverted for non- business purposes. c. Meenakshi Synthetics (P) Ltd V. CIT (2003) 84 ITD 563 (Lucknow) wherein the learned authority has upheld the fact that Non-charging of interest on loans given by an assessee cannot itself be a sufficient ground for disallowing interest paid by an assessee on loans taken by it in the absence of any nexus between borrowed capital and interest free advances or in the absence of any finding that borrowed…

P. K. RAJGARHIA,KOLKATA vs. ITO, WD-35(1), KOLKATA, KOLKATA

In the result, the appeal filed by the assessee (in Ground No

ITA 549/KOL/2014[2007-2008]Status: DisposedITAT Kolkata18 Oct 2017AY 2007-2008

Bench: Shri S. S. Viswanethra Ravi, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.548 & 549/Kol/2014 (िनधा"रणवष" / Assessment Year: 2006-07 P. K. Rajgarhia Vs. I.T.O, Ward – 35(1), Kolkata 2,Brabourne Road, 5Th Floor, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Adgpr 2565 N (Assessee) .. (Respondent) Assesseeby : Shri A. K. Tibrewal,Fca Respondent By :Shri Dulal Ch. Mondal, Jcit सुनवाईकीतारीख/ Date Of Hearing : 25/08/2017 घोषणाकीतारीख/Date Of Pronouncement : 18/10/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Two Appeals Filed By The Assessee, Pertaining To Assessment Year 2006-07 & 2007-08, Are Directed Against The Order Passed By The Ld Commissioner Of Income Tax (Appeals)-Xx, Kolkata, Which In Turn Arise Out Of Assessment Orders Passed By The Assessing Officer U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As The ‘Act’). 2.Since These Two Appeals Relate To Same Assessee, Different Assessment Years, Identical Issues Are Involved, Therefore, These Have Been Clubbed & Heard Together & A Consolidated Order Is Being Passed For The Sake Of Convenience & Brevity. 3.First, We Take Assessee’S Appeal In Ita No.548/Kol/2014, Assessment Year 2006- 07, Wherein The Assessee Has Raised The Following Grounds Of Appeal:

For Appellant: Shri A. K. Tibrewal,FCAFor Respondent: Shri Dulal Ch. Mondal, JCIT
Section 143Section 143(3)

…r disallowing interest paid by an assessee on loans taken by it in the absence of any finding that borrowed funds or part thereof was diverted towards interest free advance. The assessee also relied on the judgment of Meenakshi Synthetics P Ltd Vs. CIT (2003) 84 ITD 563 (Lucknow), wherein similar facts were discussed. The assessee further submitted before the CIT(A) that where nothing had been brought on record by the revenue to prove that interest, bearing funds available with the assessee,was not utilized for the purpose of business but was given as interest free loans or advances, therefore the disallowance of…

P. K. RAJGARHIA,KOLKATA vs. ITO, WD-35(1), KOLKATA, KOLKATA

In the result, the appeal filed by the assessee (in Ground No

ITA 548/KOL/2014[2006-2007]Status: DisposedITAT Kolkata18 Oct 2017AY 2006-2007

Bench: Shri S. S. Viswanethra Ravi, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.548 & 549/Kol/2014 (िनधा"रणवष" / Assessment Year: 2006-07 P. K. Rajgarhia Vs. I.T.O, Ward – 35(1), Kolkata 2,Brabourne Road, 5Th Floor, Kolkata – 700 001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. : Adgpr 2565 N (Assessee) .. (Respondent) Assesseeby : Shri A. K. Tibrewal,Fca Respondent By :Shri Dulal Ch. Mondal, Jcit सुनवाईकीतारीख/ Date Of Hearing : 25/08/2017 घोषणाकीतारीख/Date Of Pronouncement : 18/10/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Two Appeals Filed By The Assessee, Pertaining To Assessment Year 2006-07 & 2007-08, Are Directed Against The Order Passed By The Ld Commissioner Of Income Tax (Appeals)-Xx, Kolkata, Which In Turn Arise Out Of Assessment Orders Passed By The Assessing Officer U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As The ‘Act’). 2.Since These Two Appeals Relate To Same Assessee, Different Assessment Years, Identical Issues Are Involved, Therefore, These Have Been Clubbed & Heard Together & A Consolidated Order Is Being Passed For The Sake Of Convenience & Brevity. 3.First, We Take Assessee’S Appeal In Ita No.548/Kol/2014, Assessment Year 2006- 07, Wherein The Assessee Has Raised The Following Grounds Of Appeal:

For Appellant: Shri A. K. Tibrewal,FCAFor Respondent: Shri Dulal Ch. Mondal, JCIT
Section 143Section 143(3)

…r disallowing interest paid by an assessee on loans taken by it in the absence of any finding that borrowed funds or part thereof was diverted towards interest free advance. The assessee also relied on the judgment of Meenakshi Synthetics P Ltd Vs. CIT (2003) 84 ITD 563 (Lucknow), wherein similar facts were discussed. The assessee further submitted before the CIT(A) that where nothing had been brought on record by the revenue to prove that interest, bearing funds available with the assessee,was not utilized for the purpose of business but was given as interest free loans or advances, therefore the disallowance of…