CIT v. Walchand & Co.

65 ITR 381Supreme Court of India1967#246 most cited

What is CIT v. Walchand & Co. authority for?

The necessity and reasonableness of business expenditure, including the utilization of borrowed funds, must be judged from the perspective of a businessman based on commercial expediency, and cannot be dictated by revenue authorities. The onus is on the assessee to demonstrate the business purpose and commercial expediency.

314

judgments rely on this decision, according to BharatTax’s citation analysis of 367,837 Indian tax judgments — from 2008 to 2026.

Also referred to as

CIT v. Walchand & Co. · 65 ITR 381 · Section 40A(2) · Section 40A(3) · business expediency · commercial expediency · reasonableness of expenditure · necessity of expenditure · businessman's point of view · onus on assessee · disallowance of expenditure · revenue dictating expenses

Sections most often in play

Section 143(3)Section 14ASection 148Section 147Section 40A(2)(b)Section 40A(3)Section 142(1)Section 142(2A)

Issues it is cited on

section 40(3)short deduction of tdsinterest on interestsection 40a(2)(b)closely held companyshort deduction of taxbusiness expediencysection 40a(2)accumulated profitsrelated party transactioncommercial expediencysection 194j

Judgments citing CIT v. Walchand & Co.

Hero Motocorp Ltd., New Delhi vs. Addl.CIT, Range-11, New Delhi

In the result ground No

ITA 6990/DEL/2017[2013-14]Status: DisposedITAT Delhi20 Jun 2018AY 2013-14

Bench: Shri R. K. Panda & Ms Suchitra Kamblei.T.A. No. 6990/Del/2017 (A.Y 2013-14)

Section 143(3)Section 144C

…pply to the facts of the case. We now proceed to answer whether the action of the Assessing Officer in disallowing the expenditure on the ground of commercial expediency is justified. 13.23. The Hon’ble Supreme Court in the case of CIT vs Walchand & Co [1967] 65 ITR 381 in the context of deductibility of expenditure under Section 37(1) of the Income-tax Act, 1961 [Corresponding to section 10(2)(xv) of the Indian Income-tax Act, 1922] held as under: “In applying the test of commercial expediency for determining whether the expenditure was wholly and exclusively laid out for the purpose of the business, reasonablen…

M/S Jamna Auto Industries Ltd., Yamunanagar vs. ITO, Yamunanagar

In the result, the appeal of the Revenue is dismissed and the appeal of the assessee is partly allowed

ITA 856/CHANDI/2017[2009-10]Status: DisposedITAT Chandigarh19 Jun 2018AY 2009-10

Bench: Ms. Diva Singh & Ms. Annapurna Guptaassessment Year: 2009-10 The Dcit, Vs. Jamna Auto Industries Ltd., Yamuna Nagar Circle, Jai Spring Road, Yamuna Nagar. Industrial Area, Yamuna Nagar. Pan No. : Aaacj3929N & Assessment Year: 2009-10 Jamna Auto Industries Ltd., Vs The Ito, Jai Spring Road, Ward – 4, Industrial Area, Yamuna Nagar, Yamuna Nagar. Pan No. : Aaacj3929N (Appellant) (Respondent)

For Appellant: Shri Sandeep Sapra &For Respondent: Shri Ashish Gupta, CIT-DR

…llowing judgments: • 345 ITR 241, CIT Vs. EKL Appliances Ltd. (Delhi High Court), copy attached as Annexure-I which relied on the following judgments (kindly refer to pages 20-25 of such judgment): • 20 ITR 1, Eastern Investment Ltd. Vs. CIT (Supreme Court) • 65 ITR 381, CIT Vs. Walchand & Co. etc. (Supreme Court) • 115 ITR 519, CIT Vs. Rajendra Prasad Moody (Supreme Court) 12. The Ld. DR argued that while the turnover is increased by 67% the rebates and discounts have increased by 330% hence the disallowance which is in excess to the turnover needs to be disallowed. 13. We have gone through the record placed bef…

DCIT, Yamunanagar vs. M/S Jamna Auto Industries Ltd., Yamunanagar

In the result, the appeal of the Revenue is dismissed and the appeal of the assessee is partly allowed

ITA 836/CHANDI/2017[2009-10]Status: DisposedITAT Chandigarh19 Jun 2018AY 2009-10

Bench: Ms. Diva Singh & Ms. Annapurna Guptaassessment Year: 2009-10 The Dcit, Vs. Jamna Auto Industries Ltd., Yamuna Nagar Circle, Jai Spring Road, Yamuna Nagar. Industrial Area, Yamuna Nagar. Pan No. : Aaacj3929N & Assessment Year: 2009-10 Jamna Auto Industries Ltd., Vs The Ito, Jai Spring Road, Ward – 4, Industrial Area, Yamuna Nagar, Yamuna Nagar. Pan No. : Aaacj3929N (Appellant) (Respondent)

For Appellant: Shri Sandeep Sapra &For Respondent: Shri Ashish Gupta, CIT-DR

…llowing judgments: • 345 ITR 241, CIT Vs. EKL Appliances Ltd. (Delhi High Court), copy attached as Annexure-I which relied on the following judgments (kindly refer to pages 20-25 of such judgment): • 20 ITR 1, Eastern Investment Ltd. Vs. CIT (Supreme Court) • 65 ITR 381, CIT Vs. Walchand & Co. etc. (Supreme Court) • 115 ITR 519, CIT Vs. Rajendra Prasad Moody (Supreme Court) 12. The Ld. DR argued that while the turnover is increased by 67% the rebates and discounts have increased by 330% hence the disallowance which is in excess to the turnover needs to be disallowed. 13. We have gone through the record placed bef…

Hero Motocorp Ltd., New Delhi vs. DCIT, New Delhi

In the result appeal No. 2424/Del/ 2015 filed by the revenue in assessment year 2010-11 is partly allowed

ITA 1616/DEL/2017[2012-13]Status: DisposedITAT Delhi13 Jun 2018AY 2012-13

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 143(3)Section 144CSection 92C

…pply to the facts of the case. We now proceed to answer whether the action of the Assessing Officer in disallowing the expenditure on the ground of commercial expediency is justified. 13.23. The Hon’ble Supreme Court in the case of CIT vs Walchand & Co [1967] 65 ITR 381 in the context of deductibility of expenditure under Section 37(1) of the Income-tax Act, 1961 [Corresponding to section 10(2)(xv) of the Indian Income-tax Act, 1922] held as under: “In applying the test of commercial expediency for determining whether the expenditure was wholly and exclusively laid out for the purpose of the business, reasonablen…

Sunil Vishram Chawda, Hyderabad vs. Income Tax Officer, Ward-14(5), Hyderabad

In the result, appeal of the assessee is allowed

ITA 1566/HYD/2017[2014-15]Status: DisposedITAT Hyderabad08 Jun 2018AY 2014-15

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2014-15 Sunil Vishram Chawda, Vs. Income Tax Officer, Ward – Hyderabad. 14(5), Hyderabad.

For Appellant: Shri K.A. SaiprasadFor Respondent: Shri M.H. Naik
Section 131

…e also been duly explained. It is a settled law that revenue authorities cannot sit into the shoe of the businessman. In this regard, we place reliance upon the decision of the Hon'ble Apex Court in the case of CIT, Bombay Vs. Walchand and Co. Private Ltd. in 65 ITR 381, wherein it was held that "in applying the test of commercial expediency for determining whether an expenditure was wholly and exclusively for business, the expenditure has to be adjudged from the point of view of the businessman and not of revenue". Accordingly, we hold that assessee has duly established that sufficient services were rendered for…

Sh. Surinder Singh S/O Sh. Chanan Singh, Batala vs. The Income Tax Officer, Batala

In the result, the assessee’s appeal is allowed for statistical purposes

ITA 430/ASR/2016[2012-13]Status: DisposedITAT Amritsar31 May 2018AY 2012-13

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. No. 430/(Asr)/2016 Assessment Year: 2012-13

For Appellant: Sh. Ashwani Kalia (C.A.)For Respondent: Sh. Bhawani Shankar (D.R.)
Section 143(1)Section 143(3)

…le of natural justice. Why, the tribunal can also formulate the issue/s arising in appeal, and which also explains our delineation of the said issue in the instant case, i.e., in the manner it has been. As explained in CIT v. Walchand and Co. (P.) Ltd. [1967] 65 ITR 381 (SC), the tribunal is to deal with and determine all the questions which arise out of the subject matter of appeal, in light of the evidence and consistently with the justice of the case. In Kapurchand Shrimal v. CIT [1981] 131 ITR 451 (SC), the Apex Court explaining the scope of the duty of the tribunal, held it as enjoined to issue appropriate d…

Sunil Vishram Chawda, Hyd, Hyderabad vs. DCIT, Circle-14(1), Hyd, Hyderabad

In the result, all the appeals under consideration are allowed

ITA 1433/HYD/2015[2012-13]Status: DisposedITAT Hyderabad25 May 2018AY 2012-13

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri K.A. SaiprasadFor Respondent: Shri B. Suresh Babu
Section 194H

…e also been duly explained. It is a settled law that revenue authorities cannot sit into the shoe of the businessman. In this regard, we place reliance upon the decision of the Hon'ble Apex Court in the case of CIT, Bombay Vs. Walchand and Co. Private Ltd. in 65 ITR 381, wherein it was held that "in applying the test of commercial expediency for determining whether an expenditure was wholly and exclusively for business, the expenditure has to be adjudged from the point of view of the businessman and not of revenue". Accordingly, we hold that assessee has duly established that sufficient services were rendered for…

Sunil Vishram Chawda, Hyd, Hyderabad vs. CIT (OSD), Range-10, Hyd, Hyderabad

In the result, all the appeals under consideration are allowed

ITA 1432/HYD/2015[2011-12]Status: DisposedITAT Hyderabad25 May 2018AY 2011-12

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri K.A. SaiprasadFor Respondent: Shri B. Suresh Babu
Section 194H

…e also been duly explained. It is a settled law that revenue authorities cannot sit into the shoe of the businessman. In this regard, we place reliance upon the decision of the Hon'ble Apex Court in the case of CIT, Bombay Vs. Walchand and Co. Private Ltd. in 65 ITR 381, wherein it was held that "in applying the test of commercial expediency for determining whether an expenditure was wholly and exclusively for business, the expenditure has to be adjudged from the point of view of the businessman and not of revenue". Accordingly, we hold that assessee has duly established that sufficient services were rendered for…

Sunil Vishram Chawda, Hyd, Hyderabad vs. ACIT, Circle-10(1), Hyd, Hyderabad

In the result, all the appeals under consideration are allowed

ITA 1431/HYD/2015[2010-11]Status: DisposedITAT Hyderabad25 May 2018AY 2010-11

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri K.A. SaiprasadFor Respondent: Shri B. Suresh Babu
Section 194H

…e also been duly explained. It is a settled law that revenue authorities cannot sit into the shoe of the businessman. In this regard, we place reliance upon the decision of the Hon'ble Apex Court in the case of CIT, Bombay Vs. Walchand and Co. Private Ltd. in 65 ITR 381, wherein it was held that "in applying the test of commercial expediency for determining whether an expenditure was wholly and exclusively for business, the expenditure has to be adjudged from the point of view of the businessman and not of revenue". Accordingly, we hold that assessee has duly established that sufficient services were rendered for…

Sunil Vishram Chawda, Hyd, Hyderabad vs. ACIT, Circle-10(1), Hyd, Hyderabad

In the result, all the appeals under consideration are allowed

ITA 1430/HYD/2015[2009-10]Status: DisposedITAT Hyderabad25 May 2018AY 2009-10

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahman

For Appellant: Shri K.A. SaiprasadFor Respondent: Shri B. Suresh Babu
Section 194H

…e also been duly explained. It is a settled law that revenue authorities cannot sit into the shoe of the businessman. In this regard, we place reliance upon the decision of the Hon'ble Apex Court in the case of CIT, Bombay Vs. Walchand and Co. Private Ltd. in 65 ITR 381, wherein it was held that "in applying the test of commercial expediency for determining whether an expenditure was wholly and exclusively for business, the expenditure has to be adjudged from the point of view of the businessman and not of revenue". Accordingly, we hold that assessee has duly established that sufficient services were rendered for…

M/S. Aramex India P. Ltd., Mumbai vs. DCIT RG. 9(1)(2), Mumbai

In the result, the appeal of the assessee is allowed in terms indicated hereinabove

ITA 6749/MUM/2017[2013-14]Status: DisposedITAT Mumbai18 May 2018AY 2013-14

Bench: Shri R.C.Sharma, Am & Shri Pawan Singh, Jm M/S. Aramex India Pvt. Ltd., Vs. Dcit Rg. 9(1)(2) 821, Solitaire Corporate Park, Mumbai Andheri-Ghatkopar Link Road, Chakala- Andheri (E),Mumbai – 400 093 Pan/Gir No.Aacca6756A Appellant) .. Respondent)

Section 143(3)

…1) 50. As per our considered opinion, the Tax Department cannot step in the shoes of the taxpayer to decide the taxpayer should continue its business. In support of the above, reliance can be placed on the following decisions:-  CIT vs WatehandandCo. [1967] 65 ITR 381 (SC)  CIT vs Dafcrma Cement Pvt Ltd [2002] 254 ITR 377 (Delhi)  CIT vs EKL Appfcances Ltd [2012] 345 ITR 241(Delhi) 51. In view of the above, the segmental accounts maintained by the assessee should be accepted. Consequently, benchmarking analysis undertaken by the assessee should not be rejected by the AO / TPO. 52. Even if the segmental accou…

Hinduja Group India Ltd, Mumbai vs. ACIT RG 6(3), Mumbai

In the result, appeals for A

ITA 4458/MUM/2014[2009-10]Status: DisposedITAT Mumbai17 May 2018AY 2009-10

Bench: Shri R.C.Sharma & Shri Amarjit Singh

Section 115Section 143(3)Section 40

…submitted. i) "It is settled proposition that an expenditure has to be adjudged from the point of view of businessman and not of the revenue. In this context, we draw your attention to the Apex court decision rendered in the case of Walchand & Co. Pvt. Ltd. - 65 ITR 381. In CIT v. Indian Bank Ltd. - 56 ITR 77. the apex court held that there is no need to examine, whether the expenditure or allowance, which is permissible must be capable of producing taxable income. M/s. Hinduja Group India Ltd., ii) The House of Lords in British Insulated & Helsby Cables Ltd. - (1925) -tax cases 155, has held that in order to cl…

At&S India Private Limited vs. D.C.I.T., Circle-11(1), Kolkata

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

ITA 77/KOL/2017[2012-13]Status: DisposedITAT Kolkata11 May 2018AY 2012-13

Bench: Shri A. T. Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.77/Kol/2017 ("नधा"रणवष" / Assessment Year: 2012-13) At & S India (P) Ltd. Vs. D.C.I.T, Circle-11(1), Kolkata

For Appellant: Smt. Rituparna Sinha, ARFor Respondent: Shri G. Mallikarjuna, CIT(DR)
Section 143(3)Section 144CSection 37Section 92C

…liances reported in (2012) 24 taxmann.com 199 (Delhi).In this connection, the Hon’ble High Court referred to the decision of the AT & S India (P) Ltd. Assessment Year: 2012-13 Hon’ble Supreme Court in the matter of CIT v Walchand& Co. etc. reported in (1967) 65 ITR 381.  Decision of the Hon’ble Delhi Tribunal in the matter of McCann Erickson India (P) Ltd. v Addl. CIT reported in (2012) 24 taxmann.com 21.  Decision of the Hon’ble Mumbai Tribunal in the matter of DIT vs Diebold Software Services (P) :Ltd. reported in (2014) 48 taxmann.com 26/151 ITD 463. 26. The ld Counsel, Rituparna Sinha, submitted before us…

M/S.Filtrex Technologies Private Ltd., Bangalore vs. Asst. Commissioner of Income Tax, Bangalore

In the result, appeal by the Assessee is treated as allowed for statistical purpose

ITA 469/BANG/2017[2012-13]Status: DisposedITAT Bangalore11 Apr 2018AY 2012-13

Bench: Shri N.V Vasudevan & Shri Jason P Boazit(Tp)A Nos.469/Bang/2017 (Asst. Year – 2012-13) M/S Filtrex Technologies Pvt. Ltd., #36/4, Raghavendra Nagar, Near Ring Road, 4Th Cross, Hrbr Layout, Bangalore. Pan – Aaacf4091P. …..Appellant Vs. The Asst. Commissioner Of Income-Tax, Circle-(3)(1), Bengaluru. …. Respondent Appellant By : Shri Padmchand Khincha, C.A Respondent By : Shri C.H Sundar Rao, Cit(Dr) Date Of Hearing : 08-03-2018 Date Of Pronouncement : 11-04-2018 O R D E R

For Appellant: Shri Padmchand Khincha, C.AFor Respondent: Shri C.H Sundar Rao, CIT(DR)
Section 143(3)Section 92

…rudence. It is well settled that the revenue cannot dictate to the assessee as to how he should conduct his business and it is not for them to tell the assessee as to what expenditure the assessee can incur (Eastern Investment Ltd 20 ITR 1 (SC), Walchand & Co 65 ITR 381 (SC) followed). Even Rule 10B(1)(a) does not authorise disallowance of expenditure on the ground that it was not necessary or prudent for the assessee to have incurred the same. 22. The Hon’ble Delhi High Court in the case of Cushman & Wakefield India Private Limited ITA No.475/2012 dated 23.5.2014 367ITR 730 (Del), observed that whether a third…

ITO 25(3)(1), Mumbai vs. Mita Samir Shah, Mumbai

In the result, this appeal by the assessee stands allowed

ITA 7382/MUM/2012[2009-10]Status: DisposedITAT Mumbai23 Feb 2018AY 2009-10
For Appellant: Shri T. A. KhanFor Respondent: Dr. K. Shivaram
Section 194CSection 37(1)Section 40

…ory in itself. Once having agreed that some work was done by M/s. Vanguard Jewels Ltd., he cannot disallow the entire amount. In this regard, we may gainfully refer to the Hon’ble Apex Court decision in the case of CIT vs. Walchand and Co. Pvt. Ltd. [1967] 65 ITR 381 (SC). In this case, it was expounded that in applying the case of the commercial expediency for determining whether the expenses was wholly and exclusively laid out for the business, reasonableness of the expenses has to be adjudged from the point of view of businessman and not of Revenue. 18. Furthermore, we note that the facts of the case and t…

ACIT, Circle-4(1), Visakhapatnam vs. Sri Varalakshmi Jute Twine Mills Pvt. Ltd, Rajam

In the result, appeals filed by the Revenue in ITA

ITA 458/VIZ/2017[2013-2014]Status: DisposedITAT Visakhapatnam09 Feb 2018AY 2013-2014

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bledcit, Circle-4(1), Vs. M/S. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (Po), Srikakulam District. Pan No. Aadcs 1167 L Sri Varalakshmi Jute Twine Vs. Ito, Ward-3, Mills Pvt. Ltd., Bobbili Road, Srikakulam. Rajam (Po), Srikakulam Dist. Pan No. Aadcs 1167 L Acit, Circle-4(1), Vs. M/S. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (Po), Srikakulam District. Pan No. Aadcs 1167 L Sri Varalakshmi Jute Twine Vs. Dcit, Circle-4(1), Mills Pvt. Ltd., Bobbili Road, Visakhapatnam. Rajam (Po), Srikakulam Dist. Pan No. Aadcs 1167 L (Appellants) (Respondents)

For Appellant: Shri Yogesh A. Thar &For Respondent: Shri T. Satyanandam – Sr.DR
Section 143(1)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON’BLE ACCOUNTANT MEMBER DCIT, Circle-4(1), vs. M/s. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (PO), Srikakulam District. PAN No. AADCS 1167 L Sri Varalakshmi Jute Twine vs. ITO, Ward-3, Mills Pvt. Ltd., Bobbili Road, Srikakulam. Rajam (PO), Srikakulam Dist. PAN No. AADCS 1167 L ACIT, Circle-4(1), vs. M/s. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (PO), Srikakulam District. PAN No. AADCS 1167…

Sri Varalakshmi Jute Twine Mills Private Limited, Rajam vs. DCIT, Circle-4(1), Visakhapatnam

In the result, appeals filed by the Revenue in ITA

ITA 404/VIZ/2017[2013-2014]Status: DisposedITAT Visakhapatnam09 Feb 2018AY 2013-2014

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bledcit, Circle-4(1), Vs. M/S. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (Po), Srikakulam District. Pan No. Aadcs 1167 L Sri Varalakshmi Jute Twine Vs. Ito, Ward-3, Mills Pvt. Ltd., Bobbili Road, Srikakulam. Rajam (Po), Srikakulam Dist. Pan No. Aadcs 1167 L Acit, Circle-4(1), Vs. M/S. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (Po), Srikakulam District. Pan No. Aadcs 1167 L Sri Varalakshmi Jute Twine Vs. Dcit, Circle-4(1), Mills Pvt. Ltd., Bobbili Road, Visakhapatnam. Rajam (Po), Srikakulam Dist. Pan No. Aadcs 1167 L (Appellants) (Respondents)

For Appellant: Shri Yogesh A. Thar &For Respondent: Shri T. Satyanandam – Sr.DR
Section 143(1)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON’BLE ACCOUNTANT MEMBER DCIT, Circle-4(1), vs. M/s. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (PO), Srikakulam District. PAN No. AADCS 1167 L Sri Varalakshmi Jute Twine vs. ITO, Ward-3, Mills Pvt. Ltd., Bobbili Road, Srikakulam. Rajam (PO), Srikakulam Dist. PAN No. AADCS 1167 L ACIT, Circle-4(1), vs. M/s. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (PO), Srikakulam District. PAN No. AADCS 1167…

Sri Varalakshmi Jute Twine Mills Pvt. Ltd., Rajam vs. The ITO, Srikakulam

In the result, appeals filed by the Revenue in ITA

ITA 349/VIZ/2016[2012-2013]Status: DisposedITAT Visakhapatnam09 Feb 2018AY 2012-2013

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bledcit, Circle-4(1), Vs. M/S. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (Po), Srikakulam District. Pan No. Aadcs 1167 L Sri Varalakshmi Jute Twine Vs. Ito, Ward-3, Mills Pvt. Ltd., Bobbili Road, Srikakulam. Rajam (Po), Srikakulam Dist. Pan No. Aadcs 1167 L Acit, Circle-4(1), Vs. M/S. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (Po), Srikakulam District. Pan No. Aadcs 1167 L Sri Varalakshmi Jute Twine Vs. Dcit, Circle-4(1), Mills Pvt. Ltd., Bobbili Road, Visakhapatnam. Rajam (Po), Srikakulam Dist. Pan No. Aadcs 1167 L (Appellants) (Respondents)

For Appellant: Shri Yogesh A. Thar &For Respondent: Shri T. Satyanandam – Sr.DR
Section 143(1)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON’BLE ACCOUNTANT MEMBER DCIT, Circle-4(1), vs. M/s. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (PO), Srikakulam District. PAN No. AADCS 1167 L Sri Varalakshmi Jute Twine vs. ITO, Ward-3, Mills Pvt. Ltd., Bobbili Road, Srikakulam. Rajam (PO), Srikakulam Dist. PAN No. AADCS 1167 L ACIT, Circle-4(1), vs. M/s. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (PO), Srikakulam District. PAN No. AADCS 1167…

The DCIT, Visakhapatnam vs. Sri Varalakshmi Jute Mills Pvt Ltd, Srikakulam

In the result, appeals filed by the Revenue in ITA

ITA 340/VIZ/2016[2012-2013]Status: DisposedITAT Visakhapatnam09 Feb 2018AY 2012-2013

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bledcit, Circle-4(1), Vs. M/S. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (Po), Srikakulam District. Pan No. Aadcs 1167 L Sri Varalakshmi Jute Twine Vs. Ito, Ward-3, Mills Pvt. Ltd., Bobbili Road, Srikakulam. Rajam (Po), Srikakulam Dist. Pan No. Aadcs 1167 L Acit, Circle-4(1), Vs. M/S. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (Po), Srikakulam District. Pan No. Aadcs 1167 L Sri Varalakshmi Jute Twine Vs. Dcit, Circle-4(1), Mills Pvt. Ltd., Bobbili Road, Visakhapatnam. Rajam (Po), Srikakulam Dist. Pan No. Aadcs 1167 L (Appellants) (Respondents)

For Appellant: Shri Yogesh A. Thar &For Respondent: Shri T. Satyanandam – Sr.DR
Section 143(1)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON’BLE ACCOUNTANT MEMBER DCIT, Circle-4(1), vs. M/s. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (PO), Srikakulam District. PAN No. AADCS 1167 L Sri Varalakshmi Jute Twine vs. ITO, Ward-3, Mills Pvt. Ltd., Bobbili Road, Srikakulam. Rajam (PO), Srikakulam Dist. PAN No. AADCS 1167 L ACIT, Circle-4(1), vs. M/s. Sri Varalakshmi Jute Visakhapatnam. Twine Mills Pvt. Ltd., Bobbili Road, Rajam (PO), Srikakulam District. PAN No. AADCS 1167…

M/S. Volvo India Pvt. Ltd., Bangalore vs. DCIT, Bangalore

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

ITA 1353/BANG/2010[2006-07]Status: DisposedITAT Bangalore11 Dec 2017AY 2006-07

Bench: Shri Inturi Rama Rao & Shri Lalit Kumarm/S.Volvo India Private Limited, Yalachahally Village, Tavarakere Post, Hoskote, Bangalore – 562 122. Pan: Aaacv 6747N … Appellant Vs. The Deputy Commissioner Of Income Tax, Ltu, … Respondent

For Appellant: Shri Neeraj Jain, CAFor Respondent: Ms. Neera Malhotra, CIT(DR)
Section 10ASection 143(3)Section 234CSection 234DSection 92C

…spective of the fact that such expenditure actually benefits the appellant. In support of these contentions, he placed reliance on a catena of following decisions :- - CIT vs. Malayalam Plantations Limited: 53 ITR 140 (SC) - CIT v. Walchand & Co. etc. (1967) 65 ITR 381 - J K Woollen Manufacturers v. CIT: 72 ITR 612(SC) - CIT v. Birla Cotton Spg. And Wvg. Mills Ltd.: 82 ITR 166 (SC) - Madhav Prasad Jatia v. CIT U.P.: 118 ITR 200 (SC) - S.A. Builders Ltd. vs. CIT : 288 ITR 1 (SC) - CIT V. Bharti Televentures Ltd: 331 ITR 502 (Del) Page 15 - CIT vs. Padmani Packaging (P) Ltd.: 155 Taxmann 268 (Del) - CIT v. Rockman…