DCIT v. Madan Lai Ltd.

51 SOT 188Income Tax Appellate Tribunal2012#21020 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 348,627 Indian tax judgments — from 2021 to 2022.

Judgments citing DCIT v. Madan Lai Ltd.

Wealthy Sky Development Private Limited, Jaipur vs. Pr.CIT-1, Jaipur

In the result, the appeal of the assessee is allowed

ITA 15/JPR/2021[2016-17]Status: DisposedITAT Jaipur27 Jun 2022AY 2016-17
For Appellant: Shri Bhupendra Shah, CAFor Respondent: Shri Sanjay Dhariwal, CIT
Section 143(3)Section 263Section 43(5)(d)Section 73Section 73(4)

…m 9 (Calcutta) - Upkar Retail (P.) Ltd. 171 ITD 626 (Ahmedabad) - Magic Share Traders Ltd. 174 ITD 230 (Ahmedabad) - Sadhana Stocks & Securities (P.) Ltd. 168 ITD 499 (Kol) - Sucon India Ltd. 184 TTJ 713 (Del) - Vibha Goel 16 ITR(T) 418 (Chand) - Madanlal Ltd 51 SOT 188 (Kol) - Hiren Jaswantrai Shah 141 TTJ 851 (Ahd) - D & H Sechron Electrodes Pvt.Ltd. vs JCIT Range-1, Indore ITA No.62/Ind/2015 - Sri Vasavi Gold & Bullion (P.) Ltd.[ 92 taxmann.com 290 (Madras)] - Smt. Seema Jain 6 ITR(T) 488 (Del) - G.K. Anand Bros. Buildwell (P.) Ltd. 34 SOT 439 (Delhi) - Ivory Consultants (P.) Ltd. 96 taxmann.com 539 - Lohia Se…

DCIT, Faridabad vs. M/S Sucon India Ltd, Faridabad

ITA 4418/DEL/2016[2009-10]Status: DisposedITAT Delhi27 May 2021AY 2009-10

Bench: Shri R.K. Panda & Shri Kuldip Singhassessment Year : 2009-10

For Appellant: Sh. H.K.Choudhary, CIT-DRFor Respondent: Dr. Rakesh Gupta, Adv. &
Section 14ASection 2Section 271Section 271(1)(c)Section 73

…of the law are often enmeshed in hyper legal arguments and require very fine legal understanding. A normal assessee can-not be faulted if it does not possess those skills or takes a legal view which is favorable to him. In the case of DCIT vs. Madan Lai Ltd. (51 SOT 188)(Kolkata), relied by the assessee, it was held that derivatives are different from shares. Reliance was also placed on another decision in the case of Asian Financial Services Ltd. Vs. Cit - 3 (Kolkata) in this regard. Though different view is taken by Hon'ble Delhi High Court on the matter, it goes on to show the complexity of the issue involved.…

Sri. B. Rudragouda, Bellary vs. The Deputy Commissioner of Income Tax, Circle- 1, Bellary

In the result, the appeal is allowed

ITA 315/BANG/2020[2016-17]Status: DisposedITAT Bangalore15 Apr 2021AY 2016-17

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri Chythanya K.K., AdvocateFor Respondent: Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru
Section 37Section 37(1)

…an Financial Services Ltd. vs. CIT, [2016] 240 Taxman 192 (Cal) [Para 11]; DCIT vs. Paterson Securities (P.) Ltd. [2010] 127 ITD 386 (Chennai) [Para 3,4]; R.B.K. Securities (P.) Ltd. vs. ITO [2008] 118 TTJ 465 (Mum) [Para 4 & 5]; DCIT vs. Madanlal Ltd. [2012] 51 SOT 188/21 taxmann.com 444 (Ko1.)(URO) [Para 4, 5] CIT vs. SSKI Investors Services (P.) Ltd. [2008] 113 TTJ 511 (Mumbai) [Para 3]; Rikeen P. Dalal vs. DCIT, [2014] 62 SOT 49 (Mum)(URO.) [Para 2 & 6]; 64. Therefore, it was submitted that trading in F & 0 derivative is taxable under section 28(i). The same is not a speculative transaction under section 43(5…

Sri. B. Rudragouda, Bellary vs. The Assistant Commissioner of Income Tax, Circle- 1, Bellary

In the result, the appeal is allowed

ITA 314/BANG/2020[2015-16]Status: DisposedITAT Bangalore15 Apr 2021AY 2015-16

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri Chythanya K.K., AdvocateFor Respondent: Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru
Section 37Section 37(1)

…an Financial Services Ltd. vs. CIT, [2016] 240 Taxman 192 (Cal) [Para 11]; DCIT vs. Paterson Securities (P.) Ltd. [2010] 127 ITD 386 (Chennai) [Para 3,4]; R.B.K. Securities (P.) Ltd. vs. ITO [2008] 118 TTJ 465 (Mum) [Para 4 & 5]; DCIT vs. Madanlal Ltd. [2012] 51 SOT 188/21 taxmann.com 444 (Ko1.)(URO) [Para 4, 5] CIT vs. SSKI Investors Services (P.) Ltd. [2008] 113 TTJ 511 (Mumbai) [Para 3]; Rikeen P. Dalal vs. DCIT, [2014] 62 SOT 49 (Mum)(URO.) [Para 2 & 6]; 64. Therefore, it was submitted that trading in F & 0 derivative is taxable under section 28(i). The same is not a speculative transaction under section 43(5…

DCIT v. Madan Lai Ltd. (51 SOT 188) — Cited in 4 Judgments | BharatTax