DCIT v. Interlinked Petroleum Ltd.

83 TTJ 274Income Tax Appellate Tribunal#21590 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2024.

Judgments citing DCIT v. Interlinked Petroleum Ltd.

LATE SH. BIRDI CHAND THROUGH LEGAL HEIR MUKESH SHARMA ,JAIPUR vs. ITO, WARD-7(2), JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

ITA 502/JPR/2023[2012-13]Status: DisposedITAT Jaipur09 Apr 2024AY 2012-13

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri P.C. Parwal (C.A.)For Respondent: Shri Anup Singh (Addl.CIT)

Section 139(1)Section 142(1)Section 143(3)Section 148Section 292BSection 54F

…ation, not revised return can not claim any such additional deductions or exemption. 2 Ultratech Cement vs. Addl.CIT 81 taxmann.com 74 (Bombay) (2017) 3 CIT vs. G.S. Rice Mills 136 ITR 761 (1982) (Allahabad High Court) 4. Intex Link Petroleum Ltd. vs. DCIT 83 TTJ 274 (Allah ITAT) (2004). 13. Further, the investment in the house property was made in F.Y. 2013-14 which was beyond time limit of three years as per section 54F in F.Y. 2013-14. No evidence could be furnished before the AO regarding time of construction of residential house property. 14. Regarding investment in shop at Rs.22,81,000/-, out of sale p…

DCIT, NEW DELHI vs. M/S. MAGNUM INTERNATIONAL TRADING COMPANY PVT. LTD., NEW DELHI

In the result, the appeal of the revenue is dismissed

ITA 2511/DEL/2017[2012-13]Status: DisposedITAT Delhi03 Mar 2023AY 2012-13

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

For Appellant: Sh. Anil Bhalla, CAFor Respondent: Sh. Ajay Kumar Arora, Sr. DR

Section 143(3)Section 14ASection 37Section 37(1)

…ing judgments, “1) Western India Vegetable Products Ltd 26 ITR 151 (Bom.) 2) CIT vs Whirlpool of India Ltd. 185 Taxman 387, 3) CIT vs Club Resorts (P) Ltd. 287 ITR 552 (Mad.) 4) Jcdecaux Advertising India Pvt Ltd. 166 TTJ 121 (Del) 5) Interlink Petroleum Ltd. 83 TTJ 274 (Ahd.) 4 Magnum International Trading Company Pvt. Ltd 6) Eitve Funds International India 162 Taxman 1 (Del)” the ld CIT(A) held that revenue expenses are allowable after the date of set up in terms of Section 3 of the Act. 5. Heard the arguments of both the parties and perused the material available on record. On perusal of the entire facts we…

RHC IT SOLUTIONS PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, appeal of the assessee is allowed

ITA 2755/DEL/2017[2012-13]Status: DisposedITAT Delhi31 Dec 2019AY 2012-13

Bench: Shri G.S. Pannu & Shri K. Narasimha Chary

For Appellant: NoneFor Respondent: Sh. Surender Pal, Sr. Dr

Section 143(3)

…ipment and tools, the assessee would not have been in a position to undertake the development of the software. 12. In the impugned order Ld. CIT(A) noticed the decision of the Ahmedabad Bench of this Tribunal in the case of DCIT vs. Interlinked Petroleum Ltd 83 TTJ 274 (ITAT-Ahmed) wherein it was clearly held that there is a clear distinction between a person commencing business and a person setting up of the business; that there may be an interval between setting up of business and the commencement of business; and that the assessee can be said to have setup its business from the date when one of the essential…

ACIT, NEW DELHI vs. M/S. BUSSAN AUTO FINANCE INDIA PVT. LTD., NEW DELHI

In the result the appeal of the Revenue is dismissed

ITA 2842/DEL/2012[2008-09]Status: DisposedITAT Delhi10 Mar 2016AY 2008-09

Bench: Shri J. Sudhakar Reddy & Shri A.T. Varkeyay: 2008-09

For Appellant: Sh. SK Jain, D.RFor Respondent: Sh. C.J.S.Nanda, C.A

Section 139(5)

…question, as to when a business may be said to have been set up is dependent on the facts of each case and largely on the nature of business proposed to be undertaken. 5.3. The Ahmedabad Bench of the Tribunal in the case of DCIT vs. Interlink Petroleum Ltd., 83 TTJ 274 (ITAT-Ahmd.) culled out the propositions laid down by the Hon’ble Supreme Court as well as various High Courts on this issue. It held as follows. “The principles of law emerging from the various judgements cited by the Ld.Representatives of both sides can be briefly summarised as under: (a) There is a clear distinction between a person commencing…