How many judgments cite East India Pharmaceutical Works Ltd. v. CIT?

146 judgments on BharatTax cite East India Pharmaceutical Works Ltd. v. CIT (224 ITR 627), spanning 2015 to 2026.

Which sections of the Income Tax Act does East India Pharmaceutical Works Ltd. v. CIT come up under?

It is most often cited in judgments turning on Section 143(1), Section 143(3), Section 1961, Section 36(1)(iii), Section 144C(1), Section 144C(5).

East India Pharmaceutical Works Ltd. v. CIT

224 ITR 627Supreme Court of India1997#698 most cited

What is East India Pharmaceutical Works Ltd. v. CIT authority for?

Where an assessee has mixed funds (both interest-bearing and interest-free funds) and makes an interest-free advance or investment, it is presumed that the interest-free funds were utilized first if they are sufficient to cover such advances or investments. This prevents disallowance of interest on borrowed funds under Section 36(1)(iii).

146

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2026.

Also referred to as

East India Pharmaceutical Works Ltd v CIT · 224 ITR 627 · Section 36(1)(iii) · interest disallowance · mixed fund theory · interest free advances · borrowed funds · commercial expediency · presumption of utilization · interest on borrowed capital

Also reported as

91 Taxmann 185

Sections most often in play

Section 143(1)Section 143(3)Section 1961 Section 36(1)(iii)Section 144C(1)Section 144C(5)Section 194J Section 195

Issues it is cited on

interest free advances section 36(1)(iii)advance tax commercial expediency section 32 section 36(1)section 36 section 40(a)capital expenditure section 37(1)section 40 section 37

Judgments citing East India Pharmaceutical Works Ltd. v. CIT

INCOME TAX OFFICER, KOLKATA vs. MILESTONE FINSTOCK PVT. LTD., KOLKATA

In the result, the appeal filed by the revenue is dismissed

ITA 1180/KOL/2023[2012-13]Status: DisposedITAT Kolkata24 Feb 2026AY 2012-13

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyassessment Year: 2012-13 Ito, Ward-12(1), Kolkata…..…………..………….……….……….……Appellant Vs. Milestone Finstock Pvt. Ltd..……...…………………….....……...…..…..Respondent 62A, Hazra Road, Kol-700019. [Pan: Aaccm0280B] Appearances By: Shri Mohit Mrinal, Cit-Dr, Appeared On Behalf Of The Appellant. Shri N S Saini, Ar & Priyanka Salarpuria, Ar, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : January 07, 2026 Date Of Pronouncing The Order : February 24, 2026 Order Per Pradip Kumar Choubey: This Appeal Filed By The Revenue Is Directed Against The Order Dated 24.09.2020 Of The Cit(Appeals)-4, Kolkata (Hereinafter Referred To As The “Cit(A)”) Passed U/S 250 Of The Income-Tax Act, 1961 (Hereinafter Referred To As “The Act”) For The Assessment Year 2012–13. 2. The Appeal Has Been Filed By The Revenue With A Delay Of 1075 Days & The Revenue Has Filed An Affidavit For Condonation Of The Delay. The Contents Of The Said Affidavit Are As Under: Milestone Finstock Pvt. Ltd

Section 143(2)Section 143(3)Section 250Section 73

…n the decision of the Bombay High Court in the case of Reliance Utilities & Powers Ltd reported in 313 ITR 340 whereas, in the similar facts of the case, the Court relied on the Supreme Court decision in the case of East India Pharmaceutical Works reported in 224 ITR 627 where the Court had held if interest-free fund available with the assessee was sufficient to meet its investments and at the same time the assessee had raised a loan it can be presumed that the investments where from interest-free funds available allowed the appeal of the assessee. The Ld. CIT (A) further observed that the decision of the Hon'ble…

RITURAJ STEEL PRIVATE LIMITED,BILASPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 2(1), BILASPUR

In the result, the appeal of assessee is allowed for statistical purposes

ITA 697/RPR/2025[2017-18]Status: DisposedITAT Raipur09 Feb 2026AY 2017-18

Bench: Shri Partha Sarathi Chaudhury, Jm & Shri Avdhesh Kumar Mishra, Am आयकर अपील सं. / Ita No: 697/Rpr/2025 (िनधा"रण वष" Assessment Year: 2017-18) Rituraj Steel Private Limited, M/S Vs Assistant Commissioner Of Income Rituraj Steel Private Limited, Hotel Tax, Circle 2(1), Bilaspur, East Park Agrasen Chowk, Shri Ram Plaza Vapar Vihar, Bilaspur, Chhattisgarh, 495001 Bilaspur, Chhattisgarh, 495001 Pan: Aaccr7589J (अपीलाथ"/Appellant) : (""थ" / Respondent) िनधा"रती की ओर से / Assessee By : None (Petition Filed) राज" की ओर से / Revenue By : Dr. Priyanka Patel, Sr. Dr सुनवाई की तारीख / Date Of Hearing : 05/02/2026 घोषणा की तारीख / Date Of : 09/02/2026 Pronouncement आदेश / O R D E R Per Avdhesh Kumar Mishra, Am: This Appeal For Assessment Year (‘Ay’) 2017-18 Filed By The Assessee Is Directed Against The Order Dated 29.10.2025 Of The Additional Commissioner Of Income Tax (Appeals), Mysore [‘Addl. Cit(A)’] Passed Under Section 250 Of The Income Tax Act, 1961 (‘Act’).

For Appellant: None (Petition filed)For Respondent: Dr. Priyanka Patel, Sr. DR

Section 250Section 36(1)(iii)

…Addl. CIT(A). Before parting out, we would like to mention that the issue of surplus fund available with the assessee given to its related parties have been decided by the Hon’ble Supreme Court in number of cases; such as, East India Pharmaceutical Works Ltd. 224 ITR 627 (SC), Munjal Sales Corporation 298 ITR 298 (SC), South Indian Bank Ltd. 438 ITR 1 (SC). The Hon’ble Supreme Court in the case of South Indian Bank Ltd. (supra) 3 Rituraj Steel Pvt Ltd. vs. ACIT(A), Bilaspur has approved the mixed fund theory in as much as it has been also held that no disallowance of the interest could be made when non-interes…

DCIT, NEW DELHI vs. M/S. VODAFONE ESSAR DIGILINK LTD., NEW DELHI

ITA 1158/DEL/2015[2010-11]Status: DisposedITAT Mumbai14 Oct 2025AY 2010-11

Bench: SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI OMKARESHWAR CHIDARA (Accountant Member)

For Appellant: Shri Ketan Ved & Shri Ninad PatadeFor Respondent: Shri Pankaj Kumar

Section 143(1)Section 143(3)Section 144C(1)Section 144C(5)Section 92C

…INCOME TAX APPELLATE TRIBUNAL "J" BENCH, MUMBAI SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER SHRI OMKARESHWAR CHIDARA, ACCOUNTANT MEMBER Vodafone Digilink Limited (Formerly Known As Vodafone Essar Digilink Limited) C-48, Okhla Industrial Area, Phase – II, New Delhi – 110020. Maharashtra. [PAN: AAACA3202D] …………. Appellant Vs Deputy Commissioner of Income Tax Circle 26(2), New Delhi …………. Respondent Deputy Commissioner of Income Tax Circle 26(2), New Delhi …………. Appellant Vs Vodafone Digilink Limited (Formerly Known As Vodafone Essar Digilink Limited) C-48, Okhla Industrial Area, Phase – II, New Delhi – 110020. Maharasht…

VODAFONE DIGILINK LIMITED,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME-TAX, NEW DELHI

ITA 1073/DEL/2015[2010-11]Status: DisposedITAT Mumbai14 Oct 2025AY 2010-11

Section 143(1)Section 144C(1)Section 144C(5)Section 92C

…{ "clean_text": "INCOME TAX APPELLATE TRIBUNAL\n\"J\" BENCH, MUMBAI\nSHRI RAHUL CHAUDHARY, JUDICIAL MEMBER\nSHRI OMKARESHWAR CHIDARA, ACCOUNTANT MEMBER\n\nITA No. 1073/Del/2015\n(Assessment Year: 2010-2011)\n\nVodafone Digilink Limited\n(Formerly Known As Vodafone Essar Digilink Limited)\nC-48, Okhla Industrial Area, Phase – II,\nNew Delhi – 110020, Maharashtra.\n[PAN: AAACA3202D] ...................... Appellant\n\nVs\n\nDeputy Commissioner of Income Tax\nCircle 26(2), New Delhi ..................... Respondent\n\nITA No. 1158/Del/2015\n(Assessment Year: 2010-2011)\n\nDeputy Commissioner of Income Tax\nCircle…

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

ITA 901/DEL/2017[2012-13]Status: DisposedITAT Delhi08 Oct 2025AY 2012-13

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department

Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

…06-07. 7. Further he submitted that in case of surplus funds, presumption to be drawn in favour of the assessee with respect to utilization of interest free and borrowed funds and relied on the following cases :-  East India Pharmaceutical Works Ltd. v. CIT: 224 ITR 627 (SC)  CIT v. UTI Bank Ltd: 215 Taxman 8 (Mag.) - Revenue’s SLP dismissed in Civil Appeal No. 468/2014  Indian Explosives Ltd. V. CIT: 147 ITR 392 (Cal.)  Woolcombers of India Ltd. v. CIT: 134 ITR 219 (Cal.) - approved by Supreme Court in the case of East India Pharmaceutical Works Ltd. v. CIT: 224 ITR 627  Alkali & Chemical Corp. of India v.…

DCIT, NEW DELHI vs. M/S. MARUTI SUZUKI INDIA LTD., NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

ITA 1024/DEL/2016[2011-12]Status: DisposedITAT Delhi08 Oct 2025AY 2011-12

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department

Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

ACIT, CIRCLE-33(1), NEW DELHI vs. LUCKY EXPORTS, NEW DELHI

Accordingly ground nos. 1 and 2 are dismissed

ITA 7113/DEL/2017[2012-13]Status: DisposedITAT Delhi27 Aug 2025AY 2012-13

Bench: Shri S. Rifaur Rahman & Shri Sudhir Pareek

For Appellant: Sh. P. Roy Chaudhuri, AdvFor Respondent: Ms. Suman Malik, CIT(DR)

Section 143(1)

…and at the same time the assessee had raised a loan, it can be presumed that the investments were from the interest free funds available. Thereafter, the judgment of the Hon'ble Supreme Court in the case of East India Pharmaceutical Works Ltd. Vn. CIT (1997) 224 ITR 627 (SC)) and also the judgment of the Hon'ble Calcutta High Court in Woolcombers of India Ltd. Vs. CIT ((1981) 134 ITR 219 (Cal)) were considered. It was finally concluded that: "The principle, therefore, would be that if there are funds available both interest free and overdraft and/or loans taken, then a presumption would arise that the investment…

ACIT, CIRCLE-33(1), NEW DELHI vs. LUCKY EXPORTS, NEW DELHI

Accordingly ground nos. 1 and 2 are dismissed

ITA 5502/DEL/2017[2011-12]Status: DisposedITAT Delhi27 Aug 2025AY 2011-12

Bench: Shri S. Rifaur Rahman & Shri Sudhir Pareek

For Appellant: Sh. P. Roy Chaudhuri, AdvFor Respondent: Ms. Suman Malik, CIT(DR)

Section 143(1)

DCIT CIRCLE- 1, LTU, NEW DELHI vs. MAWANA SUGAR LTD., NEW DELHI

Appeal is partly allowed as above and the appeal of the Revenue is dismissed as above

ITA 5984/DEL/2019[2016-17]Status: DisposedITAT Delhi30 Apr 2025AY 2016-17

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishra

Section 115JSection 14ASection 36(1)(iii)

…Ltd. 161 ITR 820 (Cal) (iii) Hotel Savera 239 ITR 795 799-800 (Mad) (iv) Radico Khaitan Ltd. 274 ITR 354 (All) (v) Britannia Industries Ltd. 280 ITR 525 (Cal) (vi) Reliance Utilities and Power Ltd. 313 ITR 340 (Bom) (vii) East India Pharmaceutical Works Ltd. 224 ITR 627 (SC) (viii) Munjal Sales Corporation 298 ITR 298 (SC) (ix) South Indian Bank Ltd. 438 ITR 1 (SC) 5.3 The Ld. AR contended that the Hon'ble Supreme Court in the cases of East India Pharmaceutical Works Ltd. (supra), Munjal Sales Corporation (supra) and South Indian Bank Ltd. (supra) had also approved the mixed fund theory, inasmuch as, in South I…

BAJAJ HINDUSTHAN SUGAR LIMITED,MUMBAI vs. DEPUTY DIRECTOR OF INCOME TAX, CPC

In the result, the appeal of the assessee is dismissed

ITA 814/MUM/2025[2023-24]Status: DisposedITAT Mumbai23 Apr 2025AY 2023-24

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Kirit Kamdar,ARFor Respondent: Shri Leyaqat Ali Aafiqui (Sr. AR)

Section 143(1)Section 143(1)(a)Section 143(3)Section 37Section 37(1)Section 7Q

…as not a permissible deduction u/s. 37, any interest payable for default in payment of such income tax could not be allowed as a deduction. In arriving at the conclusion, the court followed its own decision in the cases of East India Pharmaceutical Works Ltd, 224 ITR 627 and Smt. Padmavati Jaikrishna, 166 ITR 176, where decision dealt with the issue of deductibility of interest paid on moneys borrowed for payment of income tax. 5.1 The ld.CIT(A) observed that in this case, the interest paid on delayed Provident Fund payments had to take its nature from the P a g e | 5 A.Y. 2023-24 Bajaj Hindustan Sugar Limited…

SARBINDER SINGH BINDRA,NEW DELHI vs. ACIT CIRCLE-47(1), NEW DELHI

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

ITA 7591/DEL/2019[2016-17]Status: DisposedITAT Delhi19 Feb 2025AY 2016-17

Bench: Shri Vikas Awasthy & Shri Manish Agarwalsarbinder Singh Bindra Asst. Cit, 362, 2Nd Floor, Circle-47(1), Naya Katra, Chandni Vs. Delhi. Chowk, Delhi-110006. Pan-Aaepb2783P (Appellant) (Respondent)

Section 154

…e the investments were out of mixed funds and interest free funds were sufficient to meet the investments, a presumption would arise that investments were out of interest free funds. Hon’ble Supreme Court in East India Pharmaceutical Works Ltd. vs. CIT (1997) 224 ITR 627, Munjal Sales Corporation v. CIT (2008) 298 ITR 298 and South India Bank Ltd. vs. CIT (2021) 438 ITR 1 has also approved the mixed fund theory, inasmuch, in South India Ltd. (supra), it has been held by the Apex Court that no disallowance of interest cannot be made where non-interest bearing funds are more than the investment made in tax free sec…

VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

ITA 8/NAG/2019[2015-2016]Status: DisposedITAT Nagpur28 Nov 2024AY 2015-2016

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri C. NareshFor Respondent: Shri Sandipkumar Salunke

Section 22Section 36(1)Section 36(1)(viia)Section 36(1)(viii)Section 80P

…ucted at source is concerned, the same is not allowable since such interest partakes the nature of tax. The assessee’s ground is dismissed by relying upon the ratio laid down by the Hon’ble Supreme Court in East India Pharmaceutical Works Ltd. v/s CIT, [1997] 224 ITR 627 (SC), wherein disallowance of interest for payment of income tax was confirmed. The reliance on the decision of the Co–ordinate Bench, Kolkata, in Narayani Ispat (P) Ltd. (ITA no.2127/Kol./2014, is misplaced and unfounded. Vidarbha Konkan Gramin Bank A.Y. 2014–15 & 2015–16 13. In the result, appeal filed by the assessee for A.Y. 2015–16 is partl…

VIDHARBHA KONKAN GRAMIN BANK ,NAGPUR vs. INCOME TAX OFFICER WARD 1(5) , NAGPUR

In the result, appeal filed by the assessee for A

ITA 7/NAG/2019[2014-15]Status: DisposedITAT Nagpur28 Nov 2024AY 2014-15

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri C. NareshFor Respondent: Shri Sandipkumar Salunke

Section 22Section 36(1)Section 36(1)(viia)Section 36(1)(viii)Section 80P

DCIT, CIRCLE, PATIALA vs. M/S PUNJAB STATE POWER CORPORATION LTD., PATIALA

In the result, ground no. 1 & 3 of the Revenue’s appeal is allowed and ground no

ITA 737/CHANDI/2022[2017-18]Status: DisposedITAT Chandigarh27 Aug 2024AY 2017-18

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

For Appellant: Shri Rajiv Saldi, CAFor Respondent: Smt. Kusum Bansal, CIT, DR

Section 143(2)

…rofits and gains of business or profession'. Before we advert to this question it is necessary to consider the nature of income-tax. For that purpose the judgment of the Hon'ble Supreme court in the case of East India Pharmaceutical Works Ltd. Vs. CIT [(1997) 224 ITR 627 (SC)] is relevant, in which the question was about the deductibility or otherwise of interest on money borrowed for payment of income-tax. In that case the assessee had an overdraft account with a bank. It claimed that a sum of Rs.28,488 was allowable expenditure u/s.37(1) of the Act as representing the interest which it had to pay on the overdra…

ITO, NEW DELHI vs. M/S ANSAL HOUSING & CONSTRUCTION LTD., NEW DELHI

In the result, the cross-objection filed by the assessee is dismissed

ITA 2731/DEL/2010[2007-08]Status: DisposedITAT Delhi26 Jul 2024AY 2007-08

Bench: Shri G.S.Pannu & Shri Kul Bharat[Assessment Year : 2007-08] Dcit, Vs Ansal Housing & Construction Ltd., Central Circle-20, Ugf-15, Indraprastha Building, 21, New Delhi. Barakhamba Road, New Delhi. Pan-Aaaca0377R Appellant Respondent

Section 143(3)Section 14ASection 80Section 80I

…mpt income had been made out of interest-free funds available with the assessee: - South Indian Bank Ltd. & Others v. CIT: Civil Appeal No. 9606 of 2011(SC) - CIT vs. Reliance Industries Limited: 410 ITR 466 (SC) - East India Pharmaceutical Works Ltd. v. CIT: 224 ITR 627 (SC) - Indian Explosives Ltd. V. CIT: 147 ITR 392 (Cal.) - Woolcombers of India Ltd. v. CIT: 134 ITR 219 (Cal.) - approved by Supreme Court in the case of East India - Pharmaceutical Works Ltd. v. CIT: 224 ITR 627 - CIT v. Reliance Utilities and Power Ltd.: 313 ITR 340 (Bom.) - CIT v. M/s Ashok Commercial Enterprises: ITA No. 2985 of 2009 (Bom) -…

ACIT, CIRCLE-2(1), VISAKHAPATNAM vs. VIZAG SEAPORT PVT. LTD., VISAKHAPATNAM

In the result, appeal of the Revenue is dismissed

ITA 383/VIZ/2017[2012-2013]Status: DisposedITAT Visakhapatnam12 Apr 2024AY 2012-2013

Bench: Shri Duvvuru Rl Reddy, Hon‟Ble & Shri S Balakrishnan, Hon‟Ble(Through Hybrid Hearing) आयकरअपीलसं./ I.T.A. No. 383/Viz/2017 (धनधाारणिर्ा/ Assessment Year : 2012-13) The Assistant Commissioner Of Vs. M/S. Vizag Seaport Pvt Ltd., Income Tax, Administrative Block, Circle-5(1), S4 Gallery, Port Area, Visakhapatnam. Visakhapatnam – 530035. (अपीलाथी/ Appellant) (प्रत्यथी/ Respondent) [Pan :Aabcv2484K] अपीलाथी की ओर से/ Assessee By : Sri Fenil A Bhatt, Ar प्रत्याथी की ओर से/ Revenue By : Dr. Satyasai Rath, Cit-Dr सुनिाई की तारीख/ Date Of Hearing : 15/02/2024 घोर्णा की तारीख/Date Of : /04/2024 Pronouncement O R D E R Pers. Balakrishnan:

For Appellant: Sri Fenil A Bhatt, ARFor Respondent: Dr. Satyasai Rath, CIT-DR

Section 115JSection 143(1)Section 143(2)Section 143(3)Section 194CSection 194JSection 36(1)(iii)Section 40

…sufficient to meet its investments and at the same time the assessee had raised a loan it can be presumed that the investments were from the interest-free funds available. In our opinion, the Supreme Court in East India Pharmaceutical Works Ltd. v. CIT (1997) 224 ITR 627 had the occasion to consider the decision of the Calcutta High Court in Woolcombers of India Ltd. (1982) 134 ITR 219 where a similar issue had arisen. Before the Supreme Court it was argued that it should have been presumed that in essence and true character the taxes were paid out of the profits of the relevant year and not out of the overdraft…

DY CIT CC 6(4), MUMBAI vs. ARSHIYA LTD., MUMBAI

ITA 971/MUM/2020[2013-14]Status: DisposedITAT Mumbai08 Apr 2024AY 2013-14

Bench: Shri Aby T Varkey & Shri Amarjit Singh

For Appellant: Ajay ChandraFor Respondent: Piyush Chhajed

Section 10(34)Section 143(2)Section 143(3)Section 14A

…Page 1 ITA No.3952/Mum/2015 & 971/Mum/2020, ITA No.7900/Mum/2019 ACIT, CC 6(4) Vs. M/s Arshiya Limited IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI ABY T VARKEY, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA No. 3952/Mum/2015 (A.Y. 2011-12) Vs. M/s Arshiya Ltd. ACIT, CC-6(4) R. No. 32(1), Ground Floor, Aayakar Bhavan, M.K. Road, Mumbai -400 020 308, Level 3, Ceejay House, F Block Shiv Sagar Estate, Dr. A.B. Road, Worli, Mumbai – 400018 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No:AAACI2679A Appellant Respondent ITA No. 971/Mum/2020 (A.Y. 2013-14) DCIT, CC-6(4) R. No. 1925, 19th Floor,…

M/S ARSHIYA LTD. ,MUMBAI vs. DCIT CC 6 (4) , MUMBAI

In the result, the appeal of the revenue vide ITA No

ITA 7900/MUM/2019[2013-14]Status: DisposedITAT Mumbai08 Apr 2024AY 2013-14

Bench: Shri Aby T Varkey & Shri Amarjit Singhacit, Cc-6(4) Vs. M/S Arshiya Ltd. R. No. 32(1), 308, Level 3, Ceejay Ground Floor, Aayakar House, F Block Shiv Bhavan, M.K. Road, Sagar Estate, Dr. A.B. Mumbai -400 020 Road, Worli, Mumbai – 400018 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaaci2679A Appellant .. Respondent Dcit, Cc-6(4) Vs. M/S Arshiya Ltd. R. No. 1925, 19Th Floor, 308, Level 3, Ceejay Air India Building, House, F Block Shiv Nariman Point, Sagar Estate, Dr. A.B. Mumbai -400 021 Road, Worli, Mumbai – 400021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaaci2679A Appellant .. Respondent M/S Arshiya Ltd. Vs. Dcit, Cc-6(4) 308, Level 3, Ceejay R. No. 1925, 19Th Floor, House, F Block Shiv Sagar Air India Building, Estate, Dr. A.B. Road, Nariman Point, Worli, Mumbai – 400018 Mumbai -400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaaci2679A Appellant .. Respondent

For Appellant: Ajay ChandraFor Respondent: Piyush Chhajed

Section 10(34)Section 143(2)Section 143(3)Section 14A

…P a g e | 1 ITA No.3952/Mum/2015 & 971/Mum/2020, ACIT, CC 6(4) Vs. M/s Arshiya Limited IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI ABY T VARKEY, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ACIT, CC-6(4) Vs. M/s Arshiya Ltd. R. No. 32(1), 308, Level 3, Ceejay Ground Floor, Aayakar House, F Block Shiv Bhavan, M.K. Road, Sagar Estate, Dr. A.B. Mumbai -400 020 Road, Worli, Mumbai – 400018 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No:AAACI2679A Appellant .. Respondent DCIT, CC-6(4) Vs. M/s Arshiya Ltd. R. No. 1925, 19th Floor, 308, Level 3, Ceejay Air India Building, House, F Block Shiv…

M/S MITTAL TRADERS,SANGRUR vs. THE ACIT, CENTRAL CIRCLE, PATIALA

In the result, appeal of the Assessee is partly allowed

ITA 687/CHANDI/2022[2018-19]Status: DisposedITAT Chandigarh23 Feb 2024AY 2018-19

Bench: The Appeal Is Finally Heard Or Disposed Off.

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Shri Dharam Vir, JCIT, SR. DR

Section 143(2)

…l principle and the commercial expediency must be left out of consideration in determining this issue. The said decision of the Hon’ble Calcutta High Court has since been affirmed by Hon’ble Supreme Court in East India Pharmaceutical Works Ltd. Vs. CIT [1997] 224 ITR 627. 12. The aforesaid legal proposition so laid down by the Hon’ble Calcutta High Court as affirmed by the Hon’ble Supreme Court applies with equal force in the context of section 36(1)(iii) of the Act which again talks about “the amount of interest paid in respect of capital borrowed for the purpose of the business” and the concept of commercial ex…

RAJESH AGRAWAL,RAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, RAIPUR-1(1), RAIPUR

In the result, the appeal of the assessee is allowed in terms of our aforesaid observations

ITA 249/RPR/2022[2010-11]Status: DisposedITAT Raipur19 Oct 2023AY 2010-11

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.249/Rpr/2022 "नधा"रण वष" / Assessment Year : 2010-11 Rajesh Agrawal C/O. M/S. Chhattisgarh Steel Traders, 15/343, Main Road, Jawahar Nagar, Raipur (C.G.)-492 001. Pan : Acppa2905F .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Raipur-1(1), Raipur (C.G.) ……""यथ" / Respondent

For Appellant: Shri Ravi Agrawal, CAFor Respondent: Shri Satya Prakash Sharma, Sr. DR

Section 143(2)Section 143(3)Section 36(1)(iii)

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