G. Padmanabha Chattiyar & Sons. v. CIT

INCOME TAX OFFICER, WARD-1, BALLARI vs. H R GAVIAPPA AND CO, BALLARI

…d therefore has to be disallowed in the hands of assessee. He submitted that Ld.AO in support of disallowing the claim of expenditure relied on following decisions: • CIT vs.KCP Ltd. reported in 245 ITR 421(SC) • G.Padnabha Chettiyar & Sons vs.CIT reported in 182 ITR 1(Mad) • ReformFlour Mills Pvt.Ltd Vs.CIT reported in 132 ITR 184,196(Cal) • CIT vs.A.Krishnaswamy Mudaliar & Ors reported in 53 ITR 122(SC) We note that these decisions are on the accrual of income, which has been considered by us in forgoing paras. We have already held that entire income accrued to assessee while deciding grounds 2.1 &2.2. In the i…

M/S. THE SANDUR MANGANESE & IRON ORES LTD,SANDUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, BELLARY

In the result, both the appeals filed by the assessee stands partly allowed

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos. 1964 & 1965/Bang/2018 Assessment Years : 2012-13 & 2015-16 M/s. The Sandur Manganese & Iron The Assistant Ores Ltd., Commissioner of Sandur House, Income Tax, Laxmipur, Circle – 1, Tq: Sandur. Vs. Bellary. PAN: AAACT7495D APPELLANT RESPONDENT : Shri S. Parthasarathi, Assessee by Advocate : Shri V.S. Chakrapani, CIT- Revenue by DR Date of Hearing : 01-06-2022 Date of Pronouncement : 29-06-2022 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeals are filed by…

M/S. THE SANDUR MANGANESE & IRON ORES LTD,SANDUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1,, BELLARY

In the result, both the appeals filed by the assessee stands partly allowed

Bench: Shri. Chandra Poojari & Smt. Beena Pillai

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos. 1964 & 1965/Bang/2018 Assessment Years : 2012-13 & 2015-16 M/s. The Sandur Manganese & Iron The Assistant Ores Ltd., Commissioner of Sandur House, Income Tax, Laxmipur, Circle – 1, Tq: Sandur. Vs. Bellary. PAN: AAACT7495D APPELLANT RESPONDENT : Shri S. Parthasarathi, Assessee by Advocate : Shri V.S. Chakrapani, CIT- Revenue by DR Date of Hearing : 01-06-2022 Date of Pronouncement : 29-06-2022 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeals are filed by…

M/S KARIGANUR MINERAL MINING INDUSTRY,HOSPET vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE - 1, BELLARY

In the result, the appeal filed by the assessee for AY 2012-13 is partly allowed and the appeal filed for AY 2013-14 is allowed

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaran

…iation of profits and hence it cannot be said to have been incurred for the purpose of business or earning the profits. (d) The AO placed his reliance on the following case laws:- (i) CIT vs. KCP Limited (245 ITR 421)(SC) (ii) G. Padmanabha Chettiar & Sons (182 ITR 1,5)(Mad) iii) Reform Flour Mills P Ltd vs. CIT (132 ITR 184, 196) (Cal.) (iv) CIT vs. A. Krishnaswamy Mudaliar & Others (53 ITR 122)(SC) Accordingly, the AO added the above said amounts in the total income of the assessee of respective years. The Ld CIT(A) also confirmed the same. 4.2 Before us, the Ld A.R placed his reliance on the decision render…

M/S KARIGANUR MINERAL MINING INDUSTRY ,HOSPET vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY

In the result, the appeal filed by the assessee for AY 2012-13 is partly allowed and the appeal filed for AY 2013-14 is allowed

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaran

…iation of profits and hence it cannot be said to have been incurred for the purpose of business or earning the profits. (d) The AO placed his reliance on the following case laws:- (i) CIT vs. KCP Limited (245 ITR 421)(SC) (ii) G. Padmanabha Chettiar & Sons (182 ITR 1,5)(Mad) iii) Reform Flour Mills P Ltd vs. CIT (132 ITR 184, 196) (Cal.) (iv) CIT vs. A. Krishnaswamy Mudaliar & Others (53 ITR 122)(SC) Accordingly, the AO added the above said amounts in the total income of the assessee of respective years. The Ld CIT(A) also confirmed the same. 4.2 Before us, the Ld A.R placed his reliance on the decision render…

B RUDRA GOUDA ,BELLARY vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY

In the result, the appeal filed by assessee stands partly allowed and the appeal by revenue stands dismissed

…d therefore has to be disallowed in the hands of assessee. He submitted that Ld.AO in support of disallowing the claim of expenditure relied on following decisions:  CIT vs.KCP Ltd. reported in 245 ITR 421(SC)  G.Padnabha Chettiyar & Sons vs.CIT reported in 182 ITR 1(Mad)  ReformFlour Mills Pvt.Ltd Vs.CIT reported in 132 ITR 184,196(Cal)  CIT vs.A.Krishnaswamy udaliar & Ors reported in 53 ITR 122(SC) We note that these decisions are on the accrual of income, which has been considered by us in forgoing paras. We have already held that entire income accrued to assesee while deciding grounds 2.1 &2.2. In the iss…

THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY vs. SRI B RUDRA GOWDA , BELLARY

In the result, the appeal filed by assessee stands partly allowed and the appeal by revenue stands dismissed

…d therefore has to be disallowed in the hands of assessee. He submitted that Ld.AO in support of disallowing the claim of expenditure relied on following decisions:  CIT vs.KCP Ltd. reported in 245 ITR 421(SC)  G.Padnabha Chettiyar & Sons vs.CIT reported in 182 ITR 1(Mad)  ReformFlour Mills Pvt.Ltd Vs.CIT reported in 132 ITR 184,196(Cal)  CIT vs.A.Krishnaswamy udaliar & Ors reported in 53 ITR 122(SC) We note that these decisions are on the accrual of income, which has been considered by us in forgoing paras. We have already held that entire income accrued to assesee while deciding grounds 2.1 &2.2. In the iss…

M/S ZEENATH TRANSPORT COMPANY ,BELLARY vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1, BELLARY

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…therefore has to be disallowed in the hands of assessee. He submitted that Ld.AO in support of disallowing the claim of expenditure relied on following decisions: • CIT vs.KCP Ltd. reported in 245 ITR 421(SC) • G.Padnabha Chettiyar & Sons vs.CIT reported in 182 ITR 1(Mad) • ReformFlour Mills Pvt.Ltd Vs.CIT reported in 132 ITR 184,196(Cal) • CIT vs.A.Krishnaswamy Mudaliar & Ors reported in 53 ITR 122(SC) We note that these decisions are on the accrual of income, which has been considered by us in forgoing paras. We have already held Page 14 of 41 ITA Nos.1780 - 1782/Bang/2018 that entire income accrued to as…

M/S GOGGA GURUSANTHAIAH AND BROTHERS ,HOSPET vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY

In the result, the appeals filed by the assessee are partly allowed as indicated above

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…ed to Sugar Equalization Fund of the Government." 4.2.j. Further, Reliance may be placed on the following decisions wherein, it is held that the transaction cannot be split in to Mercantile and Cash method of accounting - G. Padmanabha Chattiyar & Sons Vs CIT 182 ITR 1,5 (Mad.), - Reform Flour Mills Pvt. Ltd., Vs CIT 132 ITR 184, 196 (Cal), - CIT Vs A Krishnaswamy Mudaliar & Others 53 ITR 122 (SC). 4.2.k. In view of above facts brought on record, the amount of Rs.16,29,36,712/- (Rs.13,10,94,826+Rs.3,18,41,886) claimed as expenditure under SPY Charges and debited to P & L A/c is disallowed and added back to the re…

M/S GOGGA GURUSANTHAIAH AND BROTHERS ,HOSPET vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY

In the result, the appeals filed by the assessee are partly allowed as indicated above

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…ed to Sugar Equalization Fund of the Government." 4.2.j. Further, Reliance may be placed on the following decisions wherein, it is held that the transaction cannot be split in to Mercantile and Cash method of accounting - G. Padmanabha Chattiyar & Sons Vs CIT 182 ITR 1,5 (Mad.), - Reform Flour Mills Pvt. Ltd., Vs CIT 132 ITR 184, 196 (Cal), - CIT Vs A Krishnaswamy Mudaliar & Others 53 ITR 122 (SC). 4.2.k. In view of above facts brought on record, the amount of Rs.16,29,36,712/- (Rs.13,10,94,826+Rs.3,18,41,886) claimed as expenditure under SPY Charges and debited to P & L A/c is disallowed and added back to the re…

M/S GOGGA GURUSANTHAIAH AND BROTHERS ,HOSPET vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY

In the result, the appeals filed by the assessee are partly allowed as indicated above

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

…ed to Sugar Equalization Fund of the Government." 4.2.j. Further, Reliance may be placed on the following decisions wherein, it is held that the transaction cannot be split in to Mercantile and Cash method of accounting - G. Padmanabha Chattiyar & Sons Vs CIT 182 ITR 1,5 (Mad.), - Reform Flour Mills Pvt. Ltd., Vs CIT 132 ITR 184, 196 (Cal), - CIT Vs A Krishnaswamy Mudaliar & Others 53 ITR 122 (SC). 4.2.k. In view of above facts brought on record, the amount of Rs.16,29,36,712/- (Rs.13,10,94,826+Rs.3,18,41,886) claimed as expenditure under SPY Charges and debited to P & L A/c is disallowed and added back to the re…

SRI. B. RUDRAGOUDA,BELLARY vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1, BELLARY

In the result, the appeal is allowed

Bench: Shri Chandra Poojari & Shri George George K.

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA Nos.314 & 315/Bang/2020 Assessment years : 2015-16 & 2016-17 Shri B. Rudragouda, Vs. The Assistant Commissioner No.2198, BKG House, of Income Tax, KHB Colony, Circle 1, Sandur, Bellary – 583 101. Bellary. PAN: AFUPG 1386A APPELLANT RESPONDENT Appellant by : Shri Chythanya K.K., Advocate Respondent by : Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru. Date of hearing : 12.03.2021 Date of Pronouncement : 15.04.2021 O R D E R Per Chandra Poojari, Accountant Me…

SRI. B. RUDRAGOUDA,BELLARY vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1, BELLARY

In the result, the appeal is allowed

Bench: Shri Chandra Poojari & Shri George George K.

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER ITA Nos.314 & 315/Bang/2020 Assessment years : 2015-16 & 2016-17 Shri B. Rudragouda, Vs. The Assistant Commissioner No.2198, BKG House, of Income Tax, KHB Colony, Circle 1, Sandur, Bellary – 583 101. Bellary. PAN: AFUPG 1386A APPELLANT RESPONDENT Appellant by : Shri Chythanya K.K., Advocate Respondent by : Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru. Date of hearing : 12.03.2021 Date of Pronouncement : 15.04.2021 O R D E R Per Chandra Poojari, Accountant Me…

M/S MUNEER ENTERPRISES ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY

In the result appeal filed by assessee stands allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year : 2013-14

…arned AC relied on the decision of the Supreme Court in the case of CIT vs. K.C.P. Limited (SC) 421. The learned AG also placed relied on the following : (i). C. Padmanabha Chattiyar & Sons vs. C1T182 HR 1, 5 (Mad.) (ii). Reform Flour Mills Pvt. Ltd., vs. CIT 132 ITR 184, 196 (Cal) (iii). CIT vs. A Krishnaswamy Mudaliar & Others 53 ITR 122 (SC). Observations of the learned CIT(A). 2.1.11. The learned CIT(A) has dismissed the appeal holding that the amount retained was penalty in nature and as such, cannot be allowed as expenditure u/s 37(1).” 4. Aggrieved by the order of Ld. AO, assessee preferred appeal before t…

ASHWATHNARAYANA SINGH AND CO ,BELLRY vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1, BELLARY

In the result appeal is filed by assessee for year under consideration stands allowed

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2013-14

…d therefore has to be disallowed in the hands of assessee. He submitted that Ld.AO in support of disallowing the claim of expenditure relied on following decisions: • CIT vs.KCP Ltd. reported in 245 ITR 421(SC) • G.Padnabha Chettiyar & Sons vs.CIT reported in 182 ITR 1(Mad) • ReformFlour Mills Pvt.Ltd Vs.CIT reported in 132 ITR 184,196(Cal) • CIT vs.A.Krishnaswamy udaliar & Ors reported in 53 ITR 122(SC) We note that these decisions are on the accrual of income, which has been considered by us in forgoing paras. We have already held that entire income accrued to assesee while deciding grounds 2.1 &2.2. In the iss…

M/S. VEERABHADRAPPA SANGAPPA & COMPANY,SANDUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1, BELLARY

In the result appeal filed by assessee stands partly allowed

Bench: Shri. B. R. Baskaran & Smt. Beena Pillaiassessment Year : 2013–14

…ed to Sugar Equalization Fund of the Government." 4.2.j. Further, Reliance may be placed on the following decisions wherein, it is held that the transaction cannot be split in to Mercantile and Cash method of accounting - G. Padmanabha Chattiyar & Sons Vs CIT 182 ITR 1,5 (Mad.), - Reform Flour Mills Pvt. Ltd., Vs CIT 132 ITR 184, 196 (Cal), - CIT Vs A Krishnaswamy Mudaliar & Others 53 ITR 122 (SC). 4.2.k. In view of above facts brought on record, the amount of Rs.16,29,36,712/-(Rs.13,10,94,826+Rs.3,18,41,886) claimed as expenditure under SPY Charges and debited to P & L A/c is disallowed and added back to the ret…

SRI V.N.K.MEMON ,BELLARY DISTRICT vs. PRINCIPAL COMMISSIONER OF INCOME TAX , GULBARGA

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

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumarassessment Year : 2012-13 Shri V.N.K. Memon, The Assistant Khb Colony, Commissioner Of Sandur, Vs. Income Tax, Bellary District. Circle – 1, Pan: Agxpm5124G Bellary. Appellant Respondent

…ing, a part of receipt cannot be taken on piecemeal / receipt basis. The reliance is placed on the following decisions wherein it is held that the transaction cannot be split in to mercantile and cash method of accounting: G PadmanabhaChattivar& Sons vs. CIT 182 ITR 1, 5 (Mad.), Reform Flour Mills Pvt. Ltd. vs CIT 132 ITR 184,196 (Cal) CIT v/s A Krishnaswamy Mudaliar& Others 53 ITR 122 (SC). Further, reliance is placed on the following decisions of the Hon'ble Apex Court wherein it was held that the amount receivable has to be credited irrespective of the receipt thereof and the expenditure therefore has to be…