DCIT v. Core Health Care Ltd.

298 ITR 194Supreme Court of India2008#592 most cited

What is DCIT v. Core Health Care Ltd. authority for?

Interest expenditure incurred for acquiring capital assets, even if capitalized in the books, is deductible if for the purpose of business. Section 36(1)(iii) is a self-contained code regarding such deductions.

165

judgments rely on this decision, according to BharatTax’s citation analysis of 367,842 Indian tax judgments — from 2012 to 2026.

Also referred to as

DCIT v. Core Health Care Ltd. · section 36(1)(iii) · interest expenditure · capital asset · business purpose · capitalized interest · revenue expenditure · deduction · tax law

Also reported as

167 Taxmann 206

Sections most often in play

Section 143(3)Section 147Section 148Section 14ASection 142(2A)Section 2(22)(e)Section 40(a)(ia)Section 40A(2)(b)
Read the full judgment

Issues it is cited on

section 40(3)short deduction of tdsinterest on interestclosely held companyshort deduction of taxaccumulated profitsrelated party transactiondisallowance of interest expendituresection 142(2a)section 194jsection 40a(2)(b)section 14a(2)

Judgments citing DCIT v. Core Health Care Ltd.

Maa Mahamaya Industries Limited, Chhattisgarh vs. Deputy Commissioner of Income Tax, Central Circle-1, Visakhapatnam

In the result, appeal of the assessee is allowed

ITA 144/VIZ/2025[2012-13]Status: DisposedITAT Visakhapatnam13 May 2025AY 2012-13

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

For Appellant: Shri MV Prasad, CAFor Respondent: Dr Satyasai Rath, CIT(DR)
Section 127Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 245C(1)Section 245D

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM “DIVN” BENCH, VISAKHAPATNAM श्री िी. दुर्ाा राि, न्याधयक सदस्य एिं श्री एस बालाकृष्णन, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपीलसं./ I.T(SS)A. No.5, 6, 7, 8 & 9/Viz/2025 (धनिाारण िर्ा/ Assessment Years. 2008-09 to 2012-13) DCIT, Vs. Maa Mahamaya Industries Limited, Central Circle-1, Chattisgarh. Visakhapatnam. PAN: AADCM5858Q (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपीलसं./ I.T.A. Nos. 140, 141, 142, 143 & 144/Viz/…

Maa Mahamaya Industries Limited, Chhattisgarh vs. Deputy Commissioner of Income Tax, Central Circle-1, Visakhapatnam

In the result, appeal of the assessee is allowed

ITA 143/VIZ/2025[2011-12]Status: DisposedITAT Visakhapatnam13 May 2025AY 2011-12

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

For Appellant: Shri MV Prasad, CAFor Respondent: Dr Satyasai Rath, CIT(DR)
Section 127Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 245C(1)Section 245D

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM “DIVN” BENCH, VISAKHAPATNAM श्री िी. दुर्ाा राि, न्याधयक सदस्य एिं श्री एस बालाकृष्णन, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपीलसं./ I.T(SS)A. No.5, 6, 7, 8 & 9/Viz/2025 (धनिाारण िर्ा/ Assessment Years. 2008-09 to 2012-13) DCIT, Vs. Maa Mahamaya Industries Limited, Central Circle-1, Chattisgarh. Visakhapatnam. PAN: AADCM5858Q (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपीलसं./ I.T.A. Nos. 140, 141, 142, 143 & 144/Viz/…

Maa Mahamaya Industries Limited, Chhattisgarh vs. Deputy Commissioner of Income Tax, Central Circle-1, Visakhapatnam

In the result, appeal of the assessee is allowed

ITA 142/VIZ/2025[2010-11]Status: DisposedITAT Visakhapatnam13 May 2025AY 2010-11

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

For Appellant: Shri MV Prasad, CAFor Respondent: Dr Satyasai Rath, CIT(DR)
Section 127Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 245C(1)Section 245D

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM “DIVN” BENCH, VISAKHAPATNAM श्री िी. दुर्ाा राि, न्याधयक सदस्य एिं श्री एस बालाकृष्णन, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपीलसं./ I.T(SS)A. No.5, 6, 7, 8 & 9/Viz/2025 (धनिाारण िर्ा/ Assessment Years. 2008-09 to 2012-13) DCIT, Vs. Maa Mahamaya Industries Limited, Central Circle-1, Chattisgarh. Visakhapatnam. PAN: AADCM5858Q (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपीलसं./ I.T.A. Nos. 140, 141, 142, 143 & 144/Viz/…

Maa Mahamaya Industries Limited, Chhattisgarh vs. Deputy Commissioner of Income Tax, Central Circle-1, Visakhapatnam

In the result, appeal of the assessee is allowed

ITA 141/VIZ/2025[2009-10]Status: DisposedITAT Visakhapatnam13 May 2025AY 2009-10

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

For Appellant: Shri MV Prasad, CAFor Respondent: Dr Satyasai Rath, CIT(DR)
Section 127Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 245C(1)Section 245D

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM “DIVN” BENCH, VISAKHAPATNAM श्री िी. दुर्ाा राि, न्याधयक सदस्य एिं श्री एस बालाकृष्णन, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपीलसं./ I.T(SS)A. No.5, 6, 7, 8 & 9/Viz/2025 (धनिाारण िर्ा/ Assessment Years. 2008-09 to 2012-13) DCIT, Vs. Maa Mahamaya Industries Limited, Central Circle-1, Chattisgarh. Visakhapatnam. PAN: AADCM5858Q (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपीलसं./ I.T.A. Nos. 140, 141, 142, 143 & 144/Viz/…

Maa Mahamaya Industries Limited, Chhattisgarh vs. Deputy Commissioner of Income Tax, Central Circle-1, Visakhapatnam

In the result, appeal of the assessee is allowed

ITA 140/VIZ/2025[2008-09]Status: DisposedITAT Visakhapatnam13 May 2025AY 2008-09

Bench: Shri V. Durga Rao, Hon’Ble & Shri S Balakrishnan, Hon’Ble

For Appellant: Shri MV Prasad, CAFor Respondent: Dr Satyasai Rath, CIT(DR)
Section 127Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 153ASection 245C(1)Section 245D

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM “DIVN” BENCH, VISAKHAPATNAM श्री िी. दुर्ाा राि, न्याधयक सदस्य एिं श्री एस बालाकृष्णन, लेखा सदस्य के समक्ष BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER & SHRI S BALAKRISHNAN, HON’BLE ACCOUNTANT MEMBER आयकर अपीलसं./ I.T(SS)A. No.5, 6, 7, 8 & 9/Viz/2025 (धनिाारण िर्ा/ Assessment Years. 2008-09 to 2012-13) DCIT, Vs. Maa Mahamaya Industries Limited, Central Circle-1, Chattisgarh. Visakhapatnam. PAN: AADCM5858Q (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपीलसं./ I.T.A. Nos. 140, 141, 142, 143 & 144/Viz/…

Cobol Technologies P.Ltd, New Delhi vs. ACIT, Central Circle-18, New Delhi

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

ITA 5505/DEL/2018[2014-15]Status: DisposedITAT Delhi25 Apr 2025AY 2014-15

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…on record by the assessee to substantiate that the borrowed funds were in fact utilized for the business purposes. There is no dispute to the settle position as envisaged by the Hon’ble Apex Court in various decisions including DCIT vs. Core Health Care Ltd., 298 ITR 194 (SC); CIT vs. Walchand & Company P. Ltd., 65 ITR 381; J.K. Woollen Manufacturers vs. CIT, 72 ITR 612; & SA Builders Ltd. vs CIT 288 ITR 1. However, in the first-place onus is on the assessee to show that the interest- bearing funds were advanced for business purposes and for commercial expediency. Thus, in light of uncontroverted findings of the…

Pr. CIT -3 vs. Dlf Ltd.(Fomerly Known As Dlf Universal Ltd

ITA/926/2016HC Delhi06 Mar 2025

Bench: HON'BLE MR. JUSTICE YASHWANT VARMA,HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR

…e Order is downloaded from the DHC Server on 17/03/2025 at 11:14:00 ITA 926/2016 & ITA 928/2016 Page 15 of 20 He further relied on the decision of Hon'ble Supreme Court in the case of DCIT vs. Core Health Care Limited - 298 ITR 194 (SC) wherein Hon'ble Supreme Court has stated that provisions of section 36(1)(iii) has to be read on its own term and it is a code by itself. The Hon'ble Supreme Court further held that it does not make any difference whether the capital is borrowed for revenue purposes or for acquisition of capital assets, requirement of section is that t…

Pr. CIT -3 vs. Dlf Ltd. (Formerly Known As Dlf Universal Ltd.)

ITA/928/2016HC Delhi06 Mar 2025

Bench: HON'BLE MR. JUSTICE YASHWANT VARMA,HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR

…e Order is downloaded from the DHC Server on 17/03/2025 at 11:13:50 ITA 926/2016 & ITA 928/2016 Page 15 of 20 He further relied on the decision of Hon'ble Supreme Court in the case of DCIT vs. Core Health Care Limited - 298 ITR 194 (SC) wherein Hon'ble Supreme Court has stated that provisions of section 36(1)(iii) has to be read on its own term and it is a code by itself. The Hon'ble Supreme Court further held that it does not make any difference whether the capital is borrowed for revenue purposes or for acquisition of capital assets, requirement of section is that t…

M/S Yum Restaurants (India) Pvt. Ltd., Gurgaon vs. ITO, New Delhi

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

ITA 2369/DEL/2016[1999-00]Status: DisposedITAT Delhi11 Feb 2025AY 1999-00

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…on record by the assessee to substantiate that the borrowed funds were in fact utilized for the business purposes. There is no dispute to the settle position as envisaged by the Hon’ble Apex Court in various decisions including DCIT vs. Core Health Care Ltd., 298 ITR 194 (SC); CIT vs. Walchand & Company P. Ltd., 65 ITR 381; J.K. Woollen Manufacturers vs. CIT, 72 ITR 612; & SA Builders Ltd. vs CIT 288 ITR 1. However, in the first-place onus is on the assessee to show that the interest- bearing funds were advanced for business purposes and for commercial expediency. Thus, in light of uncontroverted findings of the…

Mehrunnisan Sherwani, Okhla vs. Income Tax Officer W 28(1), Delhi

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

ITA 4728/DEL/2024[2012-2013]Status: DisposedITAT Delhi06 Jan 2025AY 2012-2013

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…on record by the assessee to substantiate that the borrowed funds were in fact utilized for the business purposes. There is no dispute to the settle position as envisaged by the Hon’ble Apex Court in various decisions including DCIT vs. Core Health Care Ltd., 298 ITR 194 (SC); CIT vs. Walchand & Company P. Ltd., 65 ITR 381; J.K. Woollen Manufacturers vs. CIT, 72 ITR 612; & SA Builders Ltd. vs CIT 288 ITR 1. However, in the first-place onus is on the assessee to show that the interest- bearing funds were advanced for business purposes and for commercial expediency. Thus, in light of uncontroverted findings of the…

Tata Chemicals Limited, Mumbai vs. PCIT-2, Mumbai

In the result, the appeal of the assessee is allowed

ITA 4/MUM/2024[2017-18]Status: DisposedITAT Mumbai30 Dec 2024AY 2017-18

Bench: Shri Amarjit Singh & Shri Anikesh Banerjeeassessment Year: 2017-18 Tata Chemicals Limited Pcit-2, Mumbai

For Appellant: Shri Nitesh JoshiFor Respondent: Shri Pushkaraj Bhangepatil, Sr. DR
Section 143(3)Section 144C(5)Section 26(3)Section 263Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “E”, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER AND SHRI ANIKESH BANERJEE, JUDICIAL MEMBER Assessment Year: 2017-18 Tata Chemicals Limited PCIT-2, Mumbai 24, Homi Mody Street, Bombay Vs. House, Fort, Mumbai-400001. PAN: AAACT 4059 M (Appellant) (Respondent) Present for: Assessee by : Shri Nitesh Joshi Revenue by : Shri Pushkaraj Bhangepatil, Sr. DR Date of Hearing : 25.10.2024 Date of Pronouncement : 30.12.2024 O R D E R PER AMARJIT SINGH, ACCOUNTANT MEMBER: This appeal of the assessee for the assessment year 2017-18 is directed against the order d…

Kiri Industries Limited, Ahmedabad vs. The Dy.CIT, Circle-2(1)(1), Ahmedabad

In the result, appeal of the assessee is partly allowed

ITA 1513/AHD/2024[2018-19]Status: DisposedITAT Ahmedabad19 Dec 2024AY 2018-19

Bench: Dr.Brr Kumarshri Tr Senthil Kumar

For Appellant: Shri Tushar Hemani, Sr. Advocate with Shri Parimalsinh B Parmar, ARFor Respondent: Shri Rignesh Das, Sr. DR
Section 14ASection 234ASection 270ASection 36(1)(iii)Section 36(1)(va)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, AHMEDABAD BEFORE DR.BRR KUMAR, VICE PRESIDENT SHRI TR SENTHIL KUMAR, JUDICIAL MEMBER I.T.A. No.1513/Ahd/2024 (Assessment Year: 2018-19) Kiri Industries Limited, Vs. The Deputy Commissioner of 7th Floor, Income Tax, Hasubhai Chambers, Circle-2(1)(1), Nr. Town Hall, Ahmedabad. Ellisbridge, Ahmedabad-380006. [PAN No.AAACK9025C] (Appellant) .. (Respondent) Appellant by : Shri Tushar Hemani, Sr. Advocate with Shri Parimalsinh B Parmar, AR Respondent by: Shri Rignesh Das, Sr. DR 12.12.2024 Date of Hearing Date of Pronouncement 19.12.2024 O R D E R PER: DR. BRR KUMAR,…

Btech Builders, Thiruvalla vs. ITO, Ward-1 & Tps, Thiruvalla

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

ITA 56/COCH/2024[2015-2016]Status: DisposedITAT Cochin11 Dec 2024AY 2015-2016

Bench: Shri Inturi Rama Rao, Am Assessment Year: 2015-16 Btech Builders Near Ywca, Railway Station Road Thiruvalla 689101 [Pan: Aahfb8003H] .......... Appellant Vs. The Income Tax Officer Ward - 1 & Tps, Thiruvalla .......... Respondent Appellant By: ------- None ------- Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 11.12.2024 Date Of Pronouncement: 11.12.2024

For Appellant: ------- None -------For Respondent: Smt. Leena Lal, Sr. D.R
Section 143(3)Section 154Section 3Section 40

…put to use only on 07.10.2024. In response to the notice u/s. 154 the assessee contended that the interest on loan availed for the office building is eligible in view of the judgements of the Hon'ble Supreme Court in the case of DCIT vs. Core Health Care Ltd. 298 ITR 194 and the Hon'ble Madras High Court in the case of CIT vs. Thambi Modern Spinning Mills 341 ITR 229. However the AO rejected the above contentions and passed order u/s. 154 of the Act vide order dated 30.08.2019 disallowing the above two payments. 3. Being aggrieved, an appeal was filed before the CIT(A), who vide the impugned order merely confirm…

Indus Towers Limited (Formerly Known As Bharti Infratel Ltd and As Successor in Interest of Erstwhile Indus Tower Ltd), Gurugram, Haryana vs. DCIT, Circle 12(1), New Delhi

In the result, the appeal of the revenue is dismissed

ITA 2762/DEL/2023[2010-11]Status: DisposedITAT Delhi10 Dec 2024AY 2010-11

Bench: Shri M. Balaganesh & Shri Vimal Kumarindus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Acit, Vs. Indus Towers Ltd, 4Th Floor, Dlf Cybercity, Central Circle-10, New Delhi Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Indus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Assessee By : Shri Ajay Vohra, Sr. Adv Shri Rohit Jain, Adv Shri Deepesh Jain, Adv Ms. Shaurya Jain, Ca Revenue By: Shri Mukesh Kumar Jain, Cit Dr Date Of Hearing 12/09/2024 Date Of Pronouncement 10/12/2024

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Mukesh Kumar Jain, CIT DR
Section 115JSection 139(5)Section 142Section 143(3)Section 148

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI VIMAL KUMAR, JUDICIAL MEMBER Indus Towers Ltd (formerly Vs. DCIT, known as Bharti Infratel Ltd), Circle-12(1), 4th Floor, DLF Cybercity, New Delhi Building No. 10, Tower A, DLF QE, SO Gurgaon, Haryana (Appellant) (Respondent) PAN: AADCV0274F ACIT, Vs. Indus Towers Ltd, 4th Floor, DLF Cybercity, Central Circle-10, New Delhi Gurgaon, Haryana (Appellant) (Respondent) PAN: AADCV0274F Indus Towers Ltd (formerly Vs. DCIT, known as Bharti Infratel Ltd), Circle-12(1), 4th Floor, DLF Cybercity, New Delhi Building…

ACIT, Circle 10, New Delhi vs. Indus Tower Limited, Gurgaon

In the result, the appeal of the revenue is dismissed

ITA 2212/DEL/2023[2010-11]Status: DisposedITAT Delhi10 Dec 2024AY 2010-11

Bench: Shri M. Balaganesh & Shri Vimal Kumarindus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Acit, Vs. Indus Towers Ltd, 4Th Floor, Dlf Cybercity, Central Circle-10, New Delhi Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Indus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Assessee By : Shri Ajay Vohra, Sr. Adv Shri Rohit Jain, Adv Shri Deepesh Jain, Adv Ms. Shaurya Jain, Ca Revenue By: Shri Mukesh Kumar Jain, Cit Dr Date Of Hearing 12/09/2024 Date Of Pronouncement 10/12/2024

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Mukesh Kumar Jain, CIT DR
Section 115JSection 139(5)Section 142Section 143(3)Section 148

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI VIMAL KUMAR, JUDICIAL MEMBER Indus Towers Ltd (formerly Vs. DCIT, known as Bharti Infratel Ltd), Circle-12(1), 4th Floor, DLF Cybercity, New Delhi Building No. 10, Tower A, DLF QE, SO Gurgaon, Haryana (Appellant) (Respondent) PAN: AADCV0274F ACIT, Vs. Indus Towers Ltd, 4th Floor, DLF Cybercity, Central Circle-10, New Delhi Gurgaon, Haryana (Appellant) (Respondent) PAN: AADCV0274F Indus Towers Ltd (formerly Vs. DCIT, known as Bharti Infratel Ltd), Circle-12(1), 4th Floor, DLF Cybercity, New Delhi Building…

Indus Towers Ltd., Gurgaon vs. DCIT Circle 12(1), New Delhi

In the result, the appeal of the revenue is dismissed

ITA 1962/DEL/2023[2010-11]Status: DisposedITAT Delhi10 Dec 2024AY 2010-11

Bench: Shri M. Balaganesh & Shri Vimal Kumarindus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Acit, Vs. Indus Towers Ltd, 4Th Floor, Dlf Cybercity, Central Circle-10, New Delhi Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Indus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Assessee By : Shri Ajay Vohra, Sr. Adv Shri Rohit Jain, Adv Shri Deepesh Jain, Adv Ms. Shaurya Jain, Ca Revenue By: Shri Mukesh Kumar Jain, Cit Dr Date Of Hearing 12/09/2024 Date Of Pronouncement 10/12/2024

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Mukesh Kumar Jain, CIT DR
Section 115JSection 139(5)Section 142Section 143(3)Section 148

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI VIMAL KUMAR, JUDICIAL MEMBER Indus Towers Ltd (formerly Vs. DCIT, known as Bharti Infratel Ltd), Circle-12(1), 4th Floor, DLF Cybercity, New Delhi Building No. 10, Tower A, DLF QE, SO Gurgaon, Haryana (Appellant) (Respondent) PAN: AADCV0274F ACIT, Vs. Indus Towers Ltd, 4th Floor, DLF Cybercity, Central Circle-10, New Delhi Gurgaon, Haryana (Appellant) (Respondent) PAN: AADCV0274F Indus Towers Ltd (formerly Vs. DCIT, known as Bharti Infratel Ltd), Circle-12(1), 4th Floor, DLF Cybercity, New Delhi Building…

Siddhayu Aaurvedic Research Foundation Pvt. Ltd, Mumbai vs. Addl/Jt/ACIT/ITO/NFAC/// the ACIT Circle 34(3) (2), Delhi

In the result this appeal is dismissed with costs

ITA 745/MUM/2022[2017-18]Status: DisposedITAT Mumbai24 Sept 2024AY 2017-18

Bench: Shri Anikesh Banerjee & Shri Gagan Goyalsiddhayu Aayurvedic Research Foundation Pvt. Ltd., C/704, Pramukh Plaza, Cardinal Gracious Road, Chakala, Andheri East, Mumbai-400 069. Pan No. Aaacs8335F ..... Appellant Vs. Acit Circle 4(3) (2) Aaykar Bhavan, M. K. Road, Mumbai-400 020. ..... Respondent

For Appellant: Shri Satyaprakash Singh, Ld. ARFor Respondent: Shri K. C. Selvamani, Ld. DR
Section 143(2)Section 143(3)Section 144CSection 234BSection 270ASection 271ASection 28Section 37(1)

…ies below found that it was an expansion of the existing business, applying the tests laid down by this Court in the case of Alembic Glass Industries Ltd. (supra), in view of the decision of the Supreme Court in the case of Deputy CIT v. Core Health Care Ltd, 298 ITR 194 (SC), the fact whether the borrowing is capital or revenue expenditure would be of no consequence." 15.1 Question, as raised in the instant case, does not speak of the interest. In light of the observations made earlier, decision relied upon by this Court; this would be clearly covered and needs to be held in favour of the assessee. [2023] 155 ta…

Pragati Power Corporation Ltd, New Delhi vs. ACIT, Circle 20(1), New Delhi

In the result, the appeal filed by the assessee is partly allowed as indicated above

ITA 1617/DEL/2023[2018-19]Status: DisposedITAT Delhi14 Aug 2024AY 2018-19

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

Section 115JSection 145(2)Section 32Section 36Section 36(1)(iii)Section 37Section 43ASection 46ASection 80I

…1) 82 ITR 363 that existence or absence of entries in the books of accounts cannot be decisive or conclusive for a particular deduction if otherwise it is allowable as per existing law. Hon'ble Supreme Court in the case of DCIT vs Core Health Care Ltd. (2008) 298 ITR 194 (SC) have held that the legislature has made no distinction in section 36(1)(ii) between "capital borrowed for a revenue purpose" and "capital bomowed fora capital purpose Once the capital is borrowed for business purposes, interest is alllowable as deduction. Similar view is taken in the following cases: JCIT vs Bell Ceramics Ltd. (2015) 56 Tax…

Guru Nanak Milk Products, Ferozepur vs. Deputy Commissioner of Income Tax Central Circle-1, Jalandhar

In the result, the appeal of the assessee bearing ITA No

ITA 132/ASR/2022[2016-17]Status: DisposedITAT Amritsar09 Nov 2023AY 2016-17

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 132Section 133Section 143(1)Section 143(3)Section 153BSection 153CSection 250(6)

…o use in the relevant year is allowable as deduction under s. 36(1)(iii)—CIT vs. Vardhman Polytex Ltd. (2008) 214 CTR (P&H)(FB) 561 : (2008) 2 DTR (P&H)(FB) 160 set aside; Dy. CIT vs. Core Health Care Ltd. (2008) 215 CTR (SC) 1 : (2008) 3 DTR (SC) 49 : (2008) 298 ITR 194 (SC) followed Sir, it is submitted that in the present case assets acquired were utilized exclusively for the business purpose in the relevant year and this fact has been accepted by the Ld. AO that these were productive assets. Thus claim of interest expense may kindly be allowed to assessee and addition made may kindly be deleted.” I.T.A. No…

Add. CIT Spl Range--3, New Delhi vs. Dlf Ltd, New Delhi

ITA 5919/DEL/2019[2016-17]Status: DisposedITAT Delhi19 Jul 2023AY 2016-17

Bench: Sh. N.K.Billaiya & Sh. Anubhav Sharmaita No.5978/Del/2017, A.Y. 2014-15 Ita No.2238/Del/2019, A.Y. 2015-16 Ita No.5919/Del/2019, A.Y. 2016-17

Section 143(3)Section 14ASection 801A

…ition of the asset till the date on which such asset was put to use shall not be allowed as deduction. The deduction is to be disallowed even if the interest is capitalized in the books of accounts or not. Hon’ble Supreme Court in the case of Core Healthcare [298 ITR 194] has held that provisions of section 36(1 )(iii) is a code in itself. In the present case, the interest paid by the assesse is not for the purpose of acquisition of any capital asset but for its inventory. We do not find any restriction in provisions contained u/s 36(1 )(iii) which provides that the interest can be disallowed if incurred for the…