CTT v. Chunilal Prabhudas and Co.

76 ITR 566High Court1970#4233 most cited

What is CTT v. Chunilal Prabhudas and Co. authority for?

Goodwill is the reputation of a business that attracts customers, is viewed as intangible but materially valued, and can be described metaphorically as a seed growing into an oak, a magnet's attracting force, or the differential return of profit.

28

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2011 to 2023.

Also referred to as

CTT v. Chunilal Prabhudas and Co. · goodwill · business reputation · intangible asset · differential return of profit · attracting force · business tradition

Issues it is cited on

profit split methodbright line testamp expendituresection 80hhc(3)section 92fprotective assessmentsection 80hsection 145asection 92bsection 80hhcspecified domestic transactionsection 80ic

Judgments citing CTT v. Chunilal Prabhudas and Co.

PERFETTI VAN MELLE INDIA PVT. LTD.,GURGAON vs. ACIT, CIRCLE-3(1), GURGAON

In the result, the appeals filed by the assessee stand partly allowed

ITA 454/DEL/2022[2017-18]Status: DisposedITAT Delhi30 May 2023AY 2017-18
For Appellant: Shri Deepak Chopra, AdvocateFor Respondent: Shri Rajesh Kumar, CIT DR
Section 92B

…s the reputation which the proprietor of the brand has gathered over a passage or period of time in the form of widespread popularity and universal approval and acceptance in the eyes of the customer. To use words from CTT v. Chunilal Prabhudas and Co. [1970] 76 ITR 566 (Cal) ; AIR 1971 Cal 70, it would mean : "It has been horticulturally and botanically viewed as 'a seed sprouting' or an 'acorn growing into the mighty oak of goodwill'. It has been geographically described by locality. It has been historically explained as growing and crystallising traditions in the business. It has been described in terms of a…

PERFETTI VAN MELLE INDIA PVT. LTD.,GURGAON vs. ACIT, CIRCLE-3(1), GURGAON

In the result, the appeals filed by the assessee stand partly allowed

ITA 890/DEL/2021[2012-13]Status: DisposedITAT Delhi30 May 2023AY 2012-13
For Appellant: Shri Deepak Chopra, AdvocateFor Respondent: Shri Rajesh Kumar, CIT DR
Section 92B

…s the reputation which the proprietor of the brand has gathered over a passage or period of time in the form of widespread popularity and universal approval and acceptance in the eyes of the customer. To use words from CTT v. Chunilal Prabhudas and Co. [1970] 76 ITR 566 (Cal) ; AIR 1971 Cal 70, it would mean : "It has been horticulturally and botanically viewed as 'a seed sprouting' or an 'acorn growing into the mighty oak of goodwill'. It has been geographically described by locality. It has been historically explained as growing and crystallising traditions in the business. It has been described in terms of a…

PERFETTI VAN MELLE INDIA PVT. LTD.,GURGAON vs. ACIT, CIRCLE-3(1), GURGAON

In the result, the appeals filed by the assessee stand partly allowed

ITA 889/DEL/2021[2011-12]Status: DisposedITAT Delhi30 May 2023AY 2011-12
For Appellant: Shri Deepak Chopra, AdvocateFor Respondent: Shri Rajesh Kumar, CIT DR
Section 92B

…s the reputation which the proprietor of the brand has gathered over a passage or period of time in the form of widespread popularity and universal approval and acceptance in the eyes of the customer. To use words from CTT v. Chunilal Prabhudas and Co. [1970] 76 ITR 566 (Cal) ; AIR 1971 Cal 70, it would mean : "It has been horticulturally and botanically viewed as 'a seed sprouting' or an 'acorn growing into the mighty oak of goodwill'. It has been geographically described by locality. It has been historically explained as growing and crystallising traditions in the business. It has been described in terms of a…

PERFETTI VAN MELLE INDIA PVT. LTD.,GURGAON vs. ACIT, CIRCLE-3(1), GURGAON

In the result, the appeal of the assessee is partly allowed

ITA 888/DEL/2021[2009-10]Status: DisposedITAT Delhi01 Feb 2023AY 2009-10

Bench: Shri Anil Chaturvedi & Shri Yogesh Kumar U.S.

For Appellant: ShriFor Respondent: Shri Rajesh Kumar
Section 143(3)Section 144CSection 254Section 92C

…s the reputation which the proprietor of the brand has gathered over a passage or period of time in the form of widespread popularity and universal approval and acceptance in the eyes of the customer. To use words from CTT v. Chunilal Prabhudas and Co. [1970] 76 ITR 566 (Cal) ; AIR 1971 Cal 70, it would mean : "It has been horticulturally and botanically viewed as 'a seed sprouting' or an 'acorn growing into the mighty oak of goodwill'. It has been geographically described by locality. It has been historically explained as growing and crystallising traditions in the business. It has been described in terms of a m…

PEPSICO INDIA HOLDINGS PVT. LTD.,GURGAON vs. ACIT, CENTRAL CIRCLE-7, NEW DELHI

In the result, the appeal of the assessee is allowed and the Stay

ITA 749/DEL/2022[2018-19]Status: DisposedITAT Delhi23 Nov 2022AY 2018-19

Bench: Shri Shamim Yahya & Ms. Astha Chandra[Assessment Year: 2018-19]

Section 144BSection 144B(2)Section 92BSection 92CSection 92F

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH, ‘I’: NEW DELHI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND Ms. ASTHA CHANDRA, JUDICIAL MEMBER [Assessment Year: 2018-19] M/s PepsiCo India Holdings National Faceless Assessment Pvt. Ltd. Centre, Level 3-6, Pioneer Square, Vs ACIT, Central Circle-7, Sector-62, Near Golf Course New Delhi Extension Road, Gurugram-122101 PAN-AAACP1272G Assessee Revenue SA No.113/Del/2022 (Arising out of ITA No.749/DEL/2022) [Assessment Year: 2018-19] M/s PepsiCo India Holdings National Faceless Assessment Pvt. Ltd. Centre, Level 3-6, Pioneer Square, Vs ACIT, Central Circle-7,…

PEPSICO INDIA HOLDINGS PVT. LTD.,GURGAON vs. ACIT, CC-07, NEW DELHI

In the result, the appeal of the assessee is allowed

ITA 304/DEL/2022[2017-18]Status: DisposedITAT Delhi31 Oct 2022AY 2017-18

Bench: Shri G. S. Pannua N D Shri Challa Nagendra Prasad

For Appellant: Ms. Priya TandonFor Respondent: [CIT] - D.R
Section 143(3)Section 144C(13)Section 144C(5)Section 92BSection 92CSection 92F

…the reputation which the proprietor of 7 the brand has gathered over a passage or period of time in the form of widespread popularity and universal approval and acceptance in the eyes of the customer. To use words from CTT v. Chunilal Prabhudas and Co. [1970] 76 ITR 566 (Cal); AIR 1971 Cal 70, it would mean : "It has been horticulturally and botanically viewed as 'a seed sprouting' or an 'acorn growing into the mighty oak of goodwill'. 25 I.T.A. No. 304/Del/2022 It has been geographically described by locality. It has been historically explained as growing and crystallizing traditions in the business. It has be…

PERFETTI VAN MELLE INDIA PVT. LTD.,GURGAON vs. ACIT, CIRCLE-3(1), GURGAON

In the result, the additional ground raised by the assessee is allowed

ITA 463/DEL/2021[2016-17]Status: DisposedITAT Delhi22 Sept 2021AY 2016-17

Bench: The Income Tax Appellate Tribunal, Delhi Bench “I-2”, New Delhi

For Appellant: Mr. Deepak Chopra, AdvFor Respondent: Ms. Meera Shrivastava, CIT (DR)
Section 142(1)Section 143(2)Section 143(3)Section 271(1)(c)Section 80Section 80ISection 92C

…s the reputation which the proprietor of the brand has gathered over a passage or period of time in the form of widespread popularity and universal approval and acceptance in the eyes of the customer. To use words from CTT v. Chunilal Prabhudas and Co. [1970] 76 ITR 566 (Cal) ; AIR 1971 Cal 70, it would mean : "It has been horticulturally and botanically viewed as 'a seed sprouting' or an 'acorn growing into the mighty oak of goodwill'. It has been geographically described by locality. It has been historically explained as growing and crystallising traditions in the business. It has been described in terms of a m…

M/S. PREMIER BOOK CO.,NEW DELHI vs. ACIT, NEW DELHI

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

ITA 5149/DEL/2014[2010-11]Status: DisposedITAT Delhi11 Aug 2021AY 2010-11

Bench: Shri N.K. Billaiya & Ms. Madhumita Roy[A.Y 2010-11]

For Appellant: Shri B.K. Anand, CAFor Respondent: Shri Bharat B. Garg, Sr. DR
Section 32Section 32(1)(ii)

…odwill from the start. It is generated as the business is carried on and may be augmented with the passage of time. Lawson in his Introduction to the Law of Property describes it as property of a highly peculiar kind. In CIT v. Chunilal Prabhudas & Co. [1970] 76 ITR 566 the Calcutta High Court reviewed the different approaches to the concept (pp.577, 578): "It has been horticulturally and botanically viewed as „a seed sprouting‟ or an „acorn growing into the mighty oak of goodwill‟. It has been geographically described by locality. It has been historically described by locality. It has been historically explaine…

PEPSICO INDIA HOLDONGS PVT LTD ,GURGAON vs. ACIT CENTRAL CIRCLE-07, NEW DELHI

The appeal of the assessee is allowed and the Stay Application of the assessee is dismissed

ITA 113/DEL/2021[2016-17]Status: DisposedITAT Delhi04 May 2021AY 2016-17

Bench: Sh. Amit Shukladr. B. R. R. Kumarita No. 113/Del/2021 : Asstt. Year: 2016-17 Pepsico India Holdings Pvt. Ltd., Vs Acit, Level 3-6, Pioneer Square, Central Circle-07, Sector-62, Golf Course, Extension New Delhi Road, Gurgaon, Haryana-122101 (Appellantt (Respondent) Pan No. Aaacp1272G

For Appellant: Sh. Deepak Chopra, AdvFor Respondent: Ms. Meera Srivastava, CIT DR
Section 143(3)Section 92BSection 92CSection 92F

…athered over a passage or period of time in the form of widespread popularity and universal approval and acceptance in the eyes of the customer. To use words from CTT v. Chunilal Prabhudas and Co. 13 SA No. 22/Del/2021 Pepsico India Holdings Pvt. Ltd. [1970] 76 ITR 566 (Cal); AIR 1971 Cal 70, it would mean : "It has been horticulturally and botanically viewed as 'a seed sprouting' or an 'acorn growing into the mighty oak of goodwill'. It has been geographically described by locality. It has been historically explained as growing and crystallizing traditions in the business. It has been described in terms of a m…

JX NIPPON TWO LUBRICANTS INDIA PVT. LTD,GURGAON vs. DCIT CIRCLE-2(1), GURGAON

In the result, the appeal of the assessee is allowed

ITA 4985/DEL/2019[2015-16]Status: DisposedITAT Delhi02 Mar 2021AY 2015-16

Bench: Sh. Amit Shukladr. B. R. R. Kumar(Through Video Conferencing) Ita No. 4985/Del/2019 :Asstt. Year : 2015-16 & Sa No. 985/Del/2019 :Asstt. Year : 2015-16 Jx Nippon Two Lubricants India Pvt. Vs Dcit, Ltd., Unit No. 1003, 10Th Floor, Vatika Circle-2(1), City Point, Mg Road, Gurgaon, Gurgaon-122001 Haryana-122001 (Appellant) (Respondent) Pan No. Aadcj3601L Assessee By :Sh. Nageswarrao, Adv. Revenue By:Sh. Vedprakash Mishra, Sr.Dr Date Of Hearing:13.01.2021 Date Of Pronouncement: 02.03.2021

For Appellant: Sh. NageswarRao, AdvFor Respondent: Sh. VedPrakash Mishra, Sr.DR
Section 234ASection 271(1)(c)Section 32Section 32(1)(ii)

…d or and may be augmented with the passage of time. Lawson in his Introduction to the Law of 25 SA No. 985/Del/2019 JX Nippon Two Lubricants India Pvt. Ltd. Property describes it as property of a highly peculiar kind. In CIT v. Chunilal Prabhudas & Co. [1970] 76 ITR 566 the Calcutta High Court reviewed the different approaches to the concept (pp.577, 578) To quote the Hon’ble court: “Though immaterial, it is materially valued. Physically and psychologically, it is a “habit” and sociologically it is a “custom”. Biologically, it has been described by Lord Macnaghten in Trego v. Hunt [1896] AC 7 [HL] as the “sap a…

PEPSICO INDIA HOLDINGS PVT. LTD.,GURGAON vs. DCIT, CENTRAL CIRCLE- 7, NEW DELHI

In the result, appeal of the assessee is allowed

ITA 9003/DEL/2019[2015-16]Status: DisposedITAT Delhi10 Jan 2020AY 2015-16

Bench: Shri R.K. Panda & Shri K.Narasimha Charyassessment Year: 2015-16

For Appellant: Sh. Deepak Chopra, AdvocateFor Respondent: Sh. Sunil Kumar, CIT/DR
Section 143(3)Section 144CSection 92C

…eflects thereputation which the proprietor of the brand has gathered overa passage or period of time in the form of widespread popularityand universal approval and acceptance in the eyes of thecustomer. To use words from CTT v. ChunilalPrabhudas andCo. [1970] 76 ITR 566 (Cal) ; AIR 1971 Cal 70, it would mean : "It has been horticulturally and botanically viewed as 'a seedsprouting' or an 'acorn growing into the mighty oak of goodwill'.It has been geographically described by locality. It has beenhistorically explained as growing and crystallising traditions inthe business. It has been described in terms of a magne…

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

ITA 6/VIZ/2014[2009-10]Status: DisposedITAT Visakhapatnam30 Oct 2019AY 2009-10

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

For Appellant: Shri T.M. Shiv Kumar – AdvFor Respondent: Shri T.S.N. Murthy – CIT DR
Section 263Section 32

…odwill from the start. It is generated as the business is carried on and may be augmented with the passage of time. Lawson in his introduction to the law of Property describes it as property of a highly peculiar kind. In CITVs. Chunnial Prabhudas & Co. (1970) 76 ITR 566the Calcutta High Court reviewed the different approaches to the concept. It has been horticultural and botanically viewed as a seed sprouting' or an corn growing into the mighty oak of goodwill. It has been geographically described by locality. It has been historically explained as growing and crystallizing traditions in the business. It has been…

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

ITA 5/VIZ/2014[2008-09]Status: DisposedITAT Visakhapatnam30 Oct 2019AY 2008-09

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

For Appellant: Shri T.M. Shiv Kumar – AdvFor Respondent: Shri T.S.N. Murthy – CIT DR
Section 263Section 32

…odwill from the start. It is generated as the business is carried on and may be augmented with the passage of time. Lawson in his introduction to the law of Property describes it as property of a highly peculiar kind. In CITVs. Chunnial Prabhudas & Co. (1970) 76 ITR 566the Calcutta High Court reviewed the different approaches to the concept. It has been horticultural and botanically viewed as a seed sprouting' or an corn growing into the mighty oak of goodwill. It has been geographically described by locality. It has been historically explained as growing and crystallizing traditions in the business. It has been…

THE ACIT, CIRCLE - 1,, RAJAHMUNDRY vs. THE ANDHRA PRADESH PAPER MILLS LTD.,, HYDERABAD

In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed

ITA 4/VIZ/2014[2007-08]Status: DisposedITAT Visakhapatnam30 Oct 2019AY 2007-08

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

For Appellant: Shri T.M. Shiv Kumar – AdvFor Respondent: Shri T.S.N. Murthy – CIT DR
Section 263Section 32

…odwill from the start. It is generated as the business is carried on and may be augmented with the passage of time. Lawson in his introduction to the law of Property describes it as property of a highly peculiar kind. In CITVs. Chunnial Prabhudas & Co. (1970) 76 ITR 566the Calcutta High Court reviewed the different approaches to the concept. It has been horticultural and botanically viewed as a seed sprouting' or an corn growing into the mighty oak of goodwill. It has been geographically described by locality. It has been historically explained as growing and crystallizing traditions in the business. It has been…

M/S YAKULT DANONE INDIA PVT. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

In the result appeal filed by assessee stands allowed

ITA 996/DEL/2016[2011-12]Status: DisposedITAT Delhi29 Mar 2019AY 2011-12

Bench: Shri R.K.Panda & Smt. Beena A Pillaia.Y. 2011-12 Yakult Danone India P Ltd. D.C.I.T. Circle 27(1) 16, 1St Floor Vs. New Delhi Community Centre Okhla Industrial Area, Phase I New Delhi

Section 143Section 144CSection 92BSection 92CSection 92F

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: Bench I-2 NEW DELHI BEFORE SHRI R.K.PANDA, ACCOUNTANT MEMBER AND SMT. BEENA A PILLAI, JUDICIAL MEMBER A.Y. 2011-12 Yakult Danone India P Ltd. D.C.I.T. Circle 27(1) 16, 1st Floor vs. New Delhi Community Centre Okhla Industrial Area, Phase I New Delhi PAN: AAACY2585R (Appellant) (Respondent) Assessee by Sh. Himanshu Sinha, Adv. & Ms.Vrinda, Adv. Revenue by Sh. HK Choudhary, CIT, D.R. Date of Hearing 20/02/2019 Date of 29/03/2019 Pronouncement ORDER PER BEENA A PILLAI, JUDICIAL MEMBER Present appeal has been filed by assessee against final assessment ord…

PEPSICO INDIA HOLDINGS PVT. LTD.,GURGAON vs. DCIT, CENTRAL CIRCLE- 7, NEW DELHI

In the result, appeal of Assessee is partly allowed

ITA 7933/DEL/2018[2014-15]Status: DisposedITAT Delhi15 Jan 2019AY 2014-15

Bench: Shri Bhavnesh Saini, J.M. & Shri L.P. Sahu, A.M.

For Appellant: Shri Yojit PareekFor Respondent: Shri H.K. Choudhary, CIT-DR
Section 144C(5)Section 92BSection 92CSection 92F

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “I-2” : DELHI BEFORE SHRI BHAVNESH SAINI, J.M. AND SHRI L.P. SAHU, A.M. ITA.No.7933/Del./2018 & Stay Application No.965/Del./2018 Assessment Year 2014-2015 Pepsico India Holdings Pvt. The DCIT, Ltd., Level-3-6, Pioneer Central Circle-7, Square, Sector-62, Golf New Delhi. Course Extension Road, vs. Gurugram PIN - 122 101.PAN AAACP1272G (Appellant) (Respondent) Shri Deepak Chopra Ms. Rashi Khanna, And For Assessee : Shri Yojit Pareek, Advocates. For Revenue : Shri H.K. Choudhary, CIT-DR Date of Hearing : 09.01.2019 Date of Pronouncement : 15.01.2019 ORDER PER BHA…

PEPSICO INDIA HOLDINGS PVT. LTD.,GURGAON vs. ACIT, CENTRAL CIRCLE- 7, NEW DELHI

In the result, all the appeals of the assessee are treated as partly allowed

ITA 6582/DEL/2017[2013-14]Status: DisposedITAT Delhi03 Dec 2018AY 2013-14

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Respondent: Mr. H.K. Chaudhary, CIT-DR
Section 115JSection 145ASection 271(1)(c)

…s the reputation which the proprietor of the brand has gathered over a passage or period of time in the form of widespread popularity and universal approval and acceptance in the eyes of the customer. To use words from CTT v. Chunilal Prabhudas and Co. [1970] 76 ITR 566 (Cal) ; AIR 1971 Cal 70, it would mean : "It has been horticulturally and botanically viewed as 'a seed sprouting' or an 'acorn growing into the mighty oak of goodwill'. It has been geographically described by locality. It has been historically explained as growing and crystallising traditions in the business. It has been described in terms of a m…

M/S PEPSICO INDIA HOLDINGS PVT. LTD.,,GURGAON vs. ACIT,, NEW DELHI

In the result, all the appeals of the assessee are treated as partly allowed

ITA 4518/DEL/2016[2011-12]Status: DisposedITAT Delhi03 Dec 2018AY 2011-12

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Respondent: Mr. H.K. Chaudhary, CIT-DR
Section 115JSection 145ASection 271(1)(c)

…s the reputation which the proprietor of the brand has gathered over a passage or period of time in the form of widespread popularity and universal approval and acceptance in the eyes of the customer. To use words from CTT v. Chunilal Prabhudas and Co. [1970] 76 ITR 566 (Cal) ; AIR 1971 Cal 70, it would mean : "It has been horticulturally and botanically viewed as 'a seed sprouting' or an 'acorn growing into the mighty oak of goodwill'. It has been geographically described by locality. It has been historically explained as growing and crystallising traditions in the business. It has been described in terms of a m…

M/S PEPSICO INDIA HOLDINGS PVT. LTD.,,GURGAON vs. ACIT,, NEW DELHI

In the result, all the appeals of the assessee are treated as partly allowed

ITA 4517/DEL/2016[2010-11]Status: DisposedITAT Delhi03 Dec 2018AY 2010-11

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Respondent: Mr. H.K. Chaudhary, CIT-DR
Section 115JSection 145ASection 271(1)(c)

…s the reputation which the proprietor of the brand has gathered over a passage or period of time in the form of widespread popularity and universal approval and acceptance in the eyes of the customer. To use words from CTT v. Chunilal Prabhudas and Co. [1970] 76 ITR 566 (Cal) ; AIR 1971 Cal 70, it would mean : "It has been horticulturally and botanically viewed as 'a seed sprouting' or an 'acorn growing into the mighty oak of goodwill'. It has been geographically described by locality. It has been historically explained as growing and crystallising traditions in the business. It has been described in terms of a m…

M/S PEPSICO INDIA HOLDINGS PVT. LTD.,,GURGAON vs. ACIT,, NEW DELHI

In the result, all the appeals of the assessee are treated as partly allowed

ITA 4516/DEL/2016[2010-11]Status: DisposedITAT Delhi03 Dec 2018AY 2010-11

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Respondent: Mr. H.K. Chaudhary, CIT-DR
Section 115JSection 145ASection 271(1)(c)

…s the reputation which the proprietor of the brand has gathered over a passage or period of time in the form of widespread popularity and universal approval and acceptance in the eyes of the customer. To use words from CTT v. Chunilal Prabhudas and Co. [1970] 76 ITR 566 (Cal) ; AIR 1971 Cal 70, it would mean : "It has been horticulturally and botanically viewed as 'a seed sprouting' or an 'acorn growing into the mighty oak of goodwill'. It has been geographically described by locality. It has been historically explained as growing and crystallising traditions in the business. It has been described in terms of a m…

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CTT v. Chunilal Prabhudas and Co. (76 ITR 566) — Cited in 28 Judgments | BharatTax