Global Capital Ltd. v. Deputy Commissioner of Income-tax, Circle 12(1), New Delhi

117 ITD 251Income Tax Appellate Tribunal2009#18854 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2022.

Judgments citing Global Capital Ltd. v. Deputy Commissioner of Income-tax, Circle 12(1), New Delhi

M/S. MACROTECH DEVELOPERS LTD (SUCCESSOR TO AJITNATH HI-TECH BUILDERS PVT. LTD),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 7(3), MUMBAI

In the result, both the appeals filed by the assessee are allowed

ITA 5022/MUM/2019[2014-15]Status: DisposedITAT Mumbai23 May 2022AY 2014-15

Bench: Shri M Balaganesh () & Shri Pavan Kumar Gadale ()

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

…of any decision, (Decision enclosed herein as Annexure 3) 1.8 Further reliance is also placed on the decision of Income Tax Appellate Tribunal, New Delhi in the case of Global Capital Ltd. V. Deputy Commissioner of Income-tax, Circle 12(1), New Delhi [2009] 117 ITD 251 (Delhi) and decision of High Court of Madhya Pradesh in case of D & H Sacheron Electrodes (P.) Ltd. V. Commissioner of Income-tax (1984) 17 Taxman 379 (MP) wherein disallowance u/s 36(l)(iii) were deleted. 1.9 Further reliance ts also placed on the decision of the Honourable Supreme Court in the case of S.A, Builders Ltd. Vs. Commissioner of Inco…

M/S. MACROTECH DEVELOPERS LTD (SUCCESSOR TO AJITNATH HI-TECH BUILDERS PVT. LTD),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 7(3), MUMBAI

In the result, both the appeals filed by the assessee are allowed

ITA 5021/MUM/2019[2013-14]Status: DisposedITAT Mumbai23 May 2022AY 2013-14

Bench: Shri M Balaganesh () & Shri Pavan Kumar Gadale ()

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

M/S. SHANTIKRIPA INDUSTRIES LIMITED,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

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

ITA 482/JPR/2018[2012-13]Status: DisposedITAT Jaipur26 Feb 2019AY 2012-13

Bench: Or At The Time Of Hearing.”

For Appellant: Shri S.L. Poddar (Adv.)For Respondent: Shri Anoop Singh (ACIT)

…nessman to conduct his business in his own way and the revenue authorities cannot sit in the arm chair of an assessee as held in S.A. Builder 288 ITR 1(SC). e) Further, the case of the assessee is squarely covered by the judgment of Global Capital reported in 117 ITD 251(Del) wherein the coordinate Bench observed as under:- “On a careful consideration of the matter, we are of the view that the assessee is entitled to succeed and the disallowance of the interest is to be deleted. There is no dispute that the assessee is engaged in the business of purchase and sale of shares and securities, inter alia. In fact, du…

ITO, NEW DELHI vs. M/S. PANCHKULA FINVEST (P) LTD., NEW DELHI

The appeal of the revenue is dismissed without any cost as prayed for by the Ld AR of the assessee

ITA 2709/DEL/2017[2012-13]Status: DisposedITAT Delhi17 Oct 2017AY 2012-13

Bench: Shri B.P. Jain

For Appellant: Shri P.C. Yadav, AdvFor Respondent: Shri T. Vasanthan Sr. DR

Section 143(3)

…essman to conduct his business in his own way and the revenue authorities cannot sit in the arm chair of an assessee as held in S.A. Builder 288 ITR 1(SC). e) Further, the case of the assessee is squarely covered by the judgment of Global Capital reported in 117 ITD 251(Del) wherein the coordinate Bench observed as under:- “On a careful consideration of the matter, we are of the view that the assessee is entitled to succeed and the disallowance of the interest is to be deleted. There is no dispute that the assessee is engaged in the business of purchase and sale of shares and securities, inter alia. In fact, du…