Commissioner of Income Tax v. Sahara India Corpn Ltd.

296 ITR 285High Court2000#10477 most cited

What is Commissioner of Income Tax v. Sahara India Corpn Ltd. authority for?

Interest expenditure disallowance under Section 36(1)(iii) cannot be made on advances given from surplus funds if no borrowed funds were used for such advances, and no disallowance was made in prior assessment years with identical facts.

10

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2013 to 2015.

Also referred to as

Commissioner of Income Tax v. Sahara India Corpn Ltd. · 296 ITR 285 · Section 36(1)(iii) · interest free advances · disallowance of interest expenditure · surplus funds · borrowed funds · commercial expediency

Issues it is cited on

interest free advancesdisallowance of interest expenditurebusiness connectionsection 36(1)(iii)commercial expediencysection 36(1)section 37(1)section 36section 37scrutiny assessmentprevious yeartransfer

Judgments citing Commissioner of Income Tax v. Sahara India Corpn Ltd.

Commissioner of Income Tax (C) - III vs. M/S Dd Industries Ltd

ITA - 518 / 2013HC Delhi13 Mar 2015
Section 36

…os.512/2013, 516/2013, 517/2013, 518/2013, 519/2013 & 526/2013 Page 8 findings that the claim was admissible u/s 36(1)(iii) of the Act and the reliance placed on the judgment of this Court in Commissioner of Income Tax vs. Sahara India Corpn Ltd. (2000) 296 ITR 285 (Delhi). Most crucially, it noted that the amount of `23,28,50,000/- was advanced in the F.Y, 2005-06 and F.Y. 2006-07 from out of surplus funds for purchase of show room and no borrowed funds were used for these advances and that no disallowance of interest expenditure was made during those years in orders made under Section 143(3) and no…

Commissioner of Income Tax (C) -III vs. M/S Dd Industries Ltd

ITA - 516 / 2013HC Delhi13 Mar 2015
Section 36

…os.512/2013, 516/2013, 517/2013, 518/2013, 519/2013 & 526/2013 Page 8 findings that the claim was admissible u/s 36(1)(iii) of the Act and the reliance placed on the judgment of this Court in Commissioner of Income Tax vs. Sahara India Corpn Ltd. (2000) 296 ITR 285 (Delhi). Most crucially, it noted that the amount of `23,28,50,000/- was advanced in the F.Y, 2005-06 and F.Y. 2006-07 from out of surplus funds for purchase of show room and no borrowed funds were used for these advances and that no disallowance of interest expenditure was made during those years in orders made under Section 143(3) and no…

Commissioner of Income Tax (C) - III vs. M/S Dd Industries Ltd

ITA - 512 / 2013HC Delhi13 Mar 2015
Section 36

…os.512/2013, 516/2013, 517/2013, 518/2013, 519/2013 & 526/2013 Page 8 findings that the claim was admissible u/s 36(1)(iii) of the Act and the reliance placed on the judgment of this Court in Commissioner of Income Tax vs. Sahara India Corpn Ltd. (2000) 296 ITR 285 (Delhi). Most crucially, it noted that the amount of `23,28,50,000/- was advanced in the F.Y, 2005-06 and F.Y. 2006-07 from out of surplus funds for purchase of show room and no borrowed funds were used for these advances and that no disallowance of interest expenditure was made during those years in orders made under Section 143(3) and no…

Commissioner of Income Tax (C) -III vs. M/s Dd Industries Ltd

ITA/518/2013HC Delhi13 Mar 2015
Section 36

…os.512/2013, 516/2013, 517/2013, 518/2013, 519/2013 & 526/2013 Page 8 findings that the claim was admissible u/s 36(1)(iii) of the Act and the reliance placed on the judgment of this Court in Commissioner of Income Tax vs. Sahara India Corpn Ltd. (2000) 296 ITR 285 (Delhi). Most crucially, it noted that the amount of `23,28,50,000/- was advanced in the F.Y, 2005-06 and F.Y. 2006-07 from out of surplus funds for purchase of show room and no borrowed funds were used for these advances and that no disallowance of interest expenditure was made during those years in orders made under Section 143(3) and no…

Commissioner of Income Tax (C) -III vs. M/s Dd Industries Ltd

ITA/516/2013HC Delhi13 Mar 2015
Section 36

…os.512/2013, 516/2013, 517/2013, 518/2013, 519/2013 & 526/2013 Page 8 findings that the claim was admissible u/s 36(1)(iii) of the Act and the reliance placed on the judgment of this Court in Commissioner of Income Tax vs. Sahara India Corpn Ltd. (2000) 296 ITR 285 (Delhi). Most crucially, it noted that the amount of `23,28,50,000/- was advanced in the F.Y, 2005-06 and F.Y. 2006-07 from out of surplus funds for purchase of show room and no borrowed funds were used for these advances and that no disallowance of interest expenditure was made during those years in orders made under Section 143(3) and no…

Commissioner of Income Tax (C) -III vs. M/s Dd Industries Ltd

ITA/519/2013HC Delhi13 Mar 2015
Section 36

…os.512/2013, 516/2013, 517/2013, 518/2013, 519/2013 & 526/2013 Page 8 findings that the claim was admissible u/s 36(1)(iii) of the Act and the reliance placed on the judgment of this Court in Commissioner of Income Tax vs. Sahara India Corpn Ltd. (2000) 296 ITR 285 (Delhi). Most crucially, it noted that the amount of `23,28,50,000/- was advanced in the F.Y, 2005-06 and F.Y. 2006-07 from out of surplus funds for purchase of show room and no borrowed funds were used for these advances and that no disallowance of interest expenditure was made during those years in orders made under Section 143(3) and no…

Commissioner of Income Tax (C) -III vs. M/s Dd Industries Ltd

ITA/526/2013HC Delhi13 Mar 2015
Section 36

…os.512/2013, 516/2013, 517/2013, 518/2013, 519/2013 & 526/2013 Page 8 findings that the claim was admissible u/s 36(1)(iii) of the Act and the reliance placed on the judgment of this Court in Commissioner of Income Tax vs. Sahara India Corpn Ltd. (2000) 296 ITR 285 (Delhi). Most crucially, it noted that the amount of `23,28,50,000/- was advanced in the F.Y, 2005-06 and F.Y. 2006-07 from out of surplus funds for purchase of show room and no borrowed funds were used for these advances and that no disallowance of interest expenditure was made during those years in orders made under Section 143(3) and no…

Commissioner of Income Tax (C) -III vs. M/s Dd Industries Ltd

ITA/517/2013HC Delhi13 Mar 2015
Section 36

…os.512/2013, 516/2013, 517/2013, 518/2013, 519/2013 & 526/2013 Page 8 findings that the claim was admissible u/s 36(1)(iii) of the Act and the reliance placed on the judgment of this Court in Commissioner of Income Tax vs. Sahara India Corpn Ltd. (2000) 296 ITR 285 (Delhi). Most crucially, it noted that the amount of `23,28,50,000/- was advanced in the F.Y, 2005-06 and F.Y. 2006-07 from out of surplus funds for purchase of show room and no borrowed funds were used for these advances and that no disallowance of interest expenditure was made during those years in orders made under Section 143(3) and no…

Commissioner of Income Tax (C) -III vs. M/s Dd Industries Ltd

ITA/512/2013HC Delhi13 Mar 2015
Section 36

…os.512/2013, 516/2013, 517/2013, 518/2013, 519/2013 & 526/2013 Page 8 findings that the claim was admissible u/s 36(1)(iii) of the Act and the reliance placed on the judgment of this Court in Commissioner of Income Tax vs. Sahara India Corpn Ltd. (2000) 296 ITR 285 (Delhi). Most crucially, it noted that the amount of `23,28,50,000/- was advanced in the F.Y, 2005-06 and F.Y. 2006-07 from out of surplus funds for purchase of show room and no borrowed funds were used for these advances and that no disallowance of interest expenditure was made during those years in orders made under Section 143(3) and no…

The Commissioner of Income Tax - Central vs. M/s. Himagiri Biotech Pvt. Ltd

ITTA/526/2013HC Telangana30 Oct 2013
Commissioner of Income Tax v. Sahara India Corpn Ltd. (296 ITR 285) — Cited in 10 Judgments | BharatTax