East West Hotels Ltd. v. ACIT

Kadavanthara Builders Pvt Ltd, Chennai vs. ITO, Ward -4(2), Chennai

The appeal of the assessee is partly allowed for statistical purposes

…3) 144 lTD 112 (Bang -- Trib.) 8. Western India Vegetable Products Ltd. v. CIT [1954] 26 ITR 151 (Bombay) ITA Nos.2484 & 2485/CHNY/2019 Page 17 of 26 Expenditure should be allowed as deduction under section 57(iii) - East West Hotels Ltd. v. Asst.CIT [2006] 9 SOT 48 (Bang - Trib.) Brought forward business loss should be eligible to he set-off against interest income 1. CIT v. Cocanada Radhaswami Bank Ltd. [1965] 57 ITR 206 (SC) 2. Lavish Apartment P Ltd v ACIT [2018] 405 1TR 165 (Del) 3. CIT v S&S Power Switchgear Limited [2019] 415 ITR 376 (Mad) 4. CIT v Ramnath Goenka [2003] 259 ITR 26 (Mad) 17. The ld.DR rel…

Kadavanthara Builders Pvt Ltd, Chennai vs. ITO, Ward -4(2), Chennai

The appeal of the assessee is partly allowed for statistical purposes

…3) 144 lTD 112 (Bang -- Trib.) 8. Western India Vegetable Products Ltd. v. CIT [1954] 26 ITR 151 (Bombay) ITA Nos.2484 & 2485/CHNY/2019 Page 17 of 26 Expenditure should be allowed as deduction under section 57(iii) - East West Hotels Ltd. v. Asst.CIT [2006] 9 SOT 48 (Bang - Trib.) Brought forward business loss should be eligible to he set-off against interest income 1. CIT v. Cocanada Radhaswami Bank Ltd. [1965] 57 ITR 206 (SC) 2. Lavish Apartment P Ltd v ACIT [2018] 405 1TR 165 (Del) 3. CIT v S&S Power Switchgear Limited [2019] 415 ITR 376 (Mad) 4. CIT v Ramnath Goenka [2003] 259 ITR 26 (Mad) 17. The ld.DR rel…

ACIT, Bangalore vs. M/S. Abb Limited, Bangalore

In the result, the revenue’s appeal is dismissed

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2001-02

…penditure.” 60. The AO has disallowed an amount of Rs.9,05,227/-. This includes both entrance fees and subscription. This disallowance was deleted by the CIT(A) for AY 99-00 and 2000-01. Besides the ITAT, Bangalore Bench in East West Hotels Ltd. vs. ACIT 2006 9 SOT 48 has also held that entrance fees paid to club has to be allowed as business expenditure. Following the decision of the ITAT the disallowance was deleted by the CIT(Appeals). 61. This issue came up for consideration before this Tribunal for AY 1999-2000 wherein the Tribunal decided the issue against the department by para 68 of the order which is as…

M/S. Abb Limited(Formerly Asea Brown Boveri Limited), Bangalore vs. ACIT, Bangalore

In the result, the revenue’s appeal is dismissed

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2001-02

…penditure.” 60. The AO has disallowed an amount of Rs.9,05,227/-. This includes both entrance fees and subscription. This disallowance was deleted by the CIT(A) for AY 99-00 and 2000-01. Besides the ITAT, Bangalore Bench in East West Hotels Ltd. vs. ACIT 2006 9 SOT 48 has also held that entrance fees paid to club has to be allowed as business expenditure. Following the decision of the ITAT the disallowance was deleted by the CIT(Appeals). 61. This issue came up for consideration before this Tribunal for AY 1999-2000 wherein the Tribunal decided the issue against the department by para 68 of the order which is as…

Mr.M.J Aravind, Bangalore vs. Joint Commissioner of Income-Tax, Bangalore

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

Bench: Shri N.V. Vasudevan & Shri Arun Kumar Garodiaassessment Year :2012-13

…eliance on CIT vs. Indian Bank 56 ITR 77 SC). d) We invite your attention to the decision of the Income Tax Appellate Tribunal. Bangalore bench in the case of East West Hotels Limited vs. Assistant Commissioner of Income-tax. Circle- 11(2), Bangalore ([2006] 9 SOT 48 (BANG.). In this case, the assesse ‘‘as not carrying on any business but had let out its hotel premises to Taj Hotels Limited and earned lease rental income which was taxed.by the Assessing Officer under the head 'Income from other sources'. It also claimed deduction of certain expenses such as managing director's perquisites, travelling expenses, s…