Goodricke Group Limited v. CIT

338 ITR 116High Court#11517 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2023.

Issues it is cited on

section 2(19aa)section 43(b)section 3(b)section 34(1)(iv)resulting companysection 36(va)actual payment basissection 43(6)section 43b(b)scheme of arrangementsection 34(1)section 32(1)(ii)

Judgments citing Goodricke Group Limited v. CIT

Harmuny Entertainment Pvt. Ltd., Kolkata vs. D.C.I.T., Circle - 9(1), Kolkata

In the result, appeal of the assessee is partly allowed

ITA 161/KOL/2023[2012-2013]Status: DisposedITAT Kolkata07 Jul 2023AY 2012-2013

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 161/Kol/2023 Assessment Year: 2012-13 Harmuny Entertainment Pvt. Ltd. Dcit, Circle-9(1), Kolkata 32A/28, Suren Sarkar Road Vs Kolkata - 700010 [Pan : Aacch5841H] अपीलाथ"/ (Assessee ) "" यथ"/ (Respondent) Assessee By : Shri Manish Tiwary, A/R Revenue By : Shri G. Hukugha Sema, Cit सुनवाई क" तारीख/Date Of Hearing : 13/04/2023 घोषणा क" तारीख /Date Of Pronouncement: 07/07/2023 आदेश/O R D E R Per Dr. Manish Borad: This Is An Appeal Preferred By The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi (Hereinafter Referred To As The “Ld. Cit(A)”], Passed U/S 250 Of The Income-Tax Act, 1961 (Hereinafter The ‘Act’), Dated 31/01/2023 For The Assessment Year 2012-13. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1.) That On The Facts & In The Circumstances Of The Case, Order U/S 250 Of The Act Dated 31.01.2023 Passed By Ld. Cit (A), Nfac Is Arbitrary, Unjustified & Bad In Law. 2.) That On The Facts & In The Circumstances Of The Case, Ld. Cit(A), Nfac Erred In Confirming The Addition Made By Ao Amounting To Rs. 6,85,53,691/- Towards Provision For Bad & Doubtful Debts Under Provisions Of Income Tax Act, 1961 Without Considering The Fact That The Same Was Actually Written Off From The Accounts Of The Appellant In Previous Year. 3.) That On The Facts & In The Circumstances Of The Case, Ld. Cit(A), Nfac Erred In Confirming The Addition Of Rs. 3,12,27,393/- U/S 41(1) Read With Section 28(Iv) Of The Income Tax Act, 1961 On The Presumption That Liability

For Appellant: Shri Manish Tiwary, A/RFor Respondent: Shri G. Hukugha Sema, CIT
Section 143(1)Section 148Section 234BSection 234DSection 250Section 28Section 32Section 41(1)

…ch cases addition on account of cessation of liability u/s 41(1) of the Act, is uncalled for. In support of this contention reliance was placed on the following judgements  CIT vs. Sugauli Sugar Works (P.) Ltd. 236 ITR 518 (SC)  Goodricke Group Ltd. vs. CIT 338 ITR 116 (Cal)  CIT vs. Chougule & Co. (P.) Ltd. 189 FTR 473 (Bom)  Ambica Mills Ltd. vs. CIT 54 ITR 167 (Guj.)  CIT vs. Silver Cotton Mills Co. Ltd. 254 ITR 728 (Guj.) 6. As regards the disallowance of ₹ 313,010/- incurred by the assessee towards Pandel decoration, it was submitted that event management expenses to the tune of Rs.1,04,70,223/- was cl…

Chhattisgarh State Power Transmission Company Ltd, Raipur vs. Assistant Commissioner of Income Tax-4(1), Raipur

In the result, the appeal of the assessee in ITA No

ITA 81/RPR/2020[2011-12]Status: DisposedITAT Raipur04 Jul 2023AY 2011-12

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.81/Rpr/2020 "नधा"रण वष" / Assessment Year : 2011-12 Chhattisgarh State Power Transmission Company Ltd. Executive Director (Fin.), Csptcl, Second Floor, Sldc Building, Cseb Office Campus, Danginiya Raipur-492 013 (C.G.) Pan : Aadcc5773E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-4(1), Raipur (C.G.) ……""यथ" / Respondent

For Appellant: Shri R.B Doshi, CAFor Respondent: Shri V.K Singh, CIT-DR
Section 143(2)Section 143(3)

…thing on record to prove that the opposite parties have given up their claims and therefore, the same cannot be treated as a ceased liability. The CIT(A) relied on the decision of the Hon'ble Calcutta High Court in the case of Goodricke Group Limited Vs. CIT, 338 ITR 116 to decide the issue in favour of the assessee. 33. In our considered view, merely because the cheque issued by the assessee was not enchased by the creditor cannot be treated as a cessation of liability. The non-presentation of cheque could be due to any reason and cannot ipso facto lead to an inference that creditor has agreed to waive his right…

Chhattisgarh State Power Transmission Company Limited, Raipur vs. Assistant Commissioner of Income Tax, Circle-4(1), Raipur

In the result, the appeal of the assessee in ITA No

ITA 143/RPR/2019[2012-13]Status: DisposedITAT Raipur04 Jul 2023AY 2012-13

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.81/Rpr/2020 "नधा"रण वष" / Assessment Year : 2011-12 Chhattisgarh State Power Transmission Company Ltd. Executive Director (Fin.), Csptcl, Second Floor, Sldc Building, Cseb Office Campus, Danginiya Raipur-492 013 (C.G.) Pan : Aadcc5773E .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-4(1), Raipur (C.G.) ……""यथ" / Respondent

For Appellant: Shri R.B Doshi, CAFor Respondent: Shri V.K Singh, CIT-DR
Section 143(2)Section 143(3)

…thing on record to prove that the opposite parties have given up their claims and therefore, the same cannot be treated as a ceased liability. The CIT(A) relied on the decision of the Hon'ble Calcutta High Court in the case of Goodricke Group Limited Vs. CIT, 338 ITR 116 to decide the issue in favour of the assessee. 33. In our considered view, merely because the cheque issued by the assessee was not enchased by the creditor cannot be treated as a cessation of liability. The non-presentation of cheque could be due to any reason and cannot ipso facto lead to an inference that creditor has agreed to waive his right…

Chhattisgarh State Power Generation Co. Ltd., Raipur vs. Dy. Commissioner of Income Tax-1(1), Raipur

In the result, the appeal of the assessee in ITA No

ITA 24/RPR/2022[2018-19]Status: DisposedITAT Raipur15 Jun 2023AY 2018-19

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.16/Rpr/2017 "नधा"रण वष" / Assessment Year : 2009-10 Chhattisgarh State Power Generation Company Ltd. O/O. Executive Director-Finance Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(2), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita No.24/Rpr/2022 "नधा"रण वष" / Assessment Year : 2018-19 Chhattisgarh State Power Generation Company Ltd. Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S.

For Appellant: Shri R.B Doshi, CAFor Respondent: Shri V.K Singh, CIT-DR
Section 143(2)Section 143(3)Section 32

…thing on record to prove that the opposite parties have given up their claims and therefore, the same cannot be treated as a ceased liability. The CIT(A) relied on the decision of the Hon'ble Calcutta High Court in the case of Goodricke Group Limited Vs. CIT, 338 ITR 116 to decide the issue in favour of the assessee. 33. In our considered view, merely because the cheque issued by the assessee was not enchased by the creditor cannot be treated as a cessation of liability. The non-presentation of cheque could be due to any reason and cannot ipso facto lead to an inference that creditor has agreed to waive his right…

The Chhattisgarh State Power Generation Company Limited, Raipur, Raipur (Cg) vs. The Asstt. Commissioner of Income Tax 1(2), Raipur, Raipur (Cg)

In the result, the appeal of the assessee in ITA No

ITA 16/BIL/2017[2009-10]Status: DisposedITAT Raipur15 Jun 2023AY 2009-10

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.16/Rpr/2017 "नधा"रण वष" / Assessment Year : 2009-10 Chhattisgarh State Power Generation Company Ltd. O/O. Executive Director-Finance Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle-1(2), Raipur (C.G.) ……""यथ" / Respondent आयकर अपील सं. / Ita No.24/Rpr/2022 "नधा"रण वष" / Assessment Year : 2018-19 Chhattisgarh State Power Generation Company Ltd. Ground Floor, Vidyut Seva Bhawan, Daganiya, Raipur-492 001 (C.G.) Pan : Aadcc5772F .......अपीलाथ" / Appellant बनाम / V/S.

For Appellant: Shri R.B Doshi, CAFor Respondent: Shri V.K Singh, CIT-DR
Section 143(2)Section 143(3)Section 32

…thing on record to prove that the opposite parties have given up their claims and therefore, the same cannot be treated as a ceased liability. The CIT(A) relied on the decision of the Hon'ble Calcutta High Court in the case of Goodricke Group Limited Vs. CIT, 338 ITR 116 to decide the issue in favour of the assessee. 33. In our considered view, merely because the cheque issued by the assessee was not enchased by the creditor cannot be treated as a cessation of liability. The non-presentation of cheque could be due to any reason and cannot ipso facto lead to an inference that creditor has agreed to waive his right…

ACIT, Circle - 11(2), Kolkata vs. M/S. Mackintosh Burn Ltd., Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 2139/KOL/2018[2014-15]Status: DisposedITAT Kolkata03 Mar 2021AY 2014-15

Bench: Sri J. Sudhakar Reddy & Sri S. S. Godarai.T.A. No.2139/Kol/2018 Assessment Year: 2014-15 Acit, Circle-11(2), Kolkata........................……….........………………………………..………Appellant M/S. Mackintosh Burn Ltd….………………………………………………...........…………………...Respondent D-1/1, Gillander House, 8, N.S. Road, B.B.D. Bag, Kolkata-700001. [Pan : Aaccm2160J] & I.T.A. No.1940/Kol/2018 Assessment Year: 2014-15 M/S. Mackintosh Burn Ltd….………………………………………………...........…………………...Cross-Objector D-1/1, Gillander House, 8, N.S. Road, B.B.D. Bag, Kolkata-700001. [Pan : Aaccm2160J] Acit, Circle-11(2), Kolkata .…….….……………………………………………….…………………...Respondent Appearances By: Shri Imokaba Jamir, Cit(Dr), Appeared On Behalf Of The Appellant. Shri Somnath Ghosh, Advocate, Appeared On Behalf Of The Respondent.

Section 250

…AR has also stated that if at all the addition was to be made it cannot be made in the current year but should be made in the year in which these liabilities have arisen. The AR has quoted the judgment of DLF Ltd. ITA 2677/Delhi/2011 and Goodricke Group Ltd. 338 ITR 116(Cal.). I have perused the assessment order. The assessee is a public sector company, audited by C&AG. The assessee has been following regular system of crediting stale cheques back to the accounts as and when it thinks that the liability has ceased to exist. Therefore, in view of the consistent accounting system followed by the assessee and also…

Mackintosh Burn Ltd., Kolkata vs. ACIT, Circle - 11(2), Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 1940/KOL/2018[2014-15]Status: DisposedITAT Kolkata03 Mar 2021AY 2014-15

Bench: Sri J. Sudhakar Reddy & Sri S. S. Godarai.T.A. No.2139/Kol/2018 Assessment Year: 2014-15 Acit, Circle-11(2), Kolkata........................……….........………………………………..………Appellant M/S. Mackintosh Burn Ltd….………………………………………………...........…………………...Respondent D-1/1, Gillander House, 8, N.S. Road, B.B.D. Bag, Kolkata-700001. [Pan : Aaccm2160J] & I.T.A. No.1940/Kol/2018 Assessment Year: 2014-15 M/S. Mackintosh Burn Ltd….………………………………………………...........…………………...Cross-Objector D-1/1, Gillander House, 8, N.S. Road, B.B.D. Bag, Kolkata-700001. [Pan : Aaccm2160J] Acit, Circle-11(2), Kolkata .…….….……………………………………………….…………………...Respondent Appearances By: Shri Imokaba Jamir, Cit(Dr), Appeared On Behalf Of The Appellant. Shri Somnath Ghosh, Advocate, Appeared On Behalf Of The Respondent.

Section 250

…AR has also stated that if at all the addition was to be made it cannot be made in the current year but should be made in the year in which these liabilities have arisen. The AR has quoted the judgment of DLF Ltd. ITA 2677/Delhi/2011 and Goodricke Group Ltd. 338 ITR 116(Cal.). I have perused the assessment order. The assessee is a public sector company, audited by C&AG. The assessee has been following regular system of crediting stale cheques back to the accounts as and when it thinks that the liability has ceased to exist. Therefore, in view of the consistent accounting system followed by the assessee and also…

M/S A.S. Syndicate Warehousing (P) Ltd., Kolkata vs. I.T.O, WD -11(3), Kolkata

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

ITA 2095/KOL/2013[2007-08]Status: DisposedITAT Kolkata09 Dec 2016AY 2007-08

Bench: Shri N.V. Vasudevan & Shri M. Balaganesh

Section 133(6)Section 143(3)Section 41(1)

…ently relied on the order of ld. CIT(Appeals). The ld. A.R. for the assessee has placed reliance on the following decisions in support of this argument:- (i) CIT –vs.- Sugauli Sugar Works (P) Limited [236 ITR 518 (SC)]; (ii) Goodricke Group Limited –vs.- CIT [338 ITR 116 (Cal.)]; (iii) CIT –vs.- Chougule & Co. (P) Limited [189 ITR 473 (Bom.)]; (iv) Steel and General Mills Co. Limited –vs.-CIT[96 ITR 438 (Del]; (v) CIT –vs.- Ancherry Pauoo Kakku [1986] 160 ITR 88 (Ker.); (vi) Ambica Mills Limited –vs.- CIT [54 ITR 167 (Guj.)]; (vii) CIT –vs.- Silver Cotton Mills Co. Limited [254 ITR 728 (Guj.). The ld. A.R. also…

DCIT, New Delhi vs. M/S. Janta Co- Operative Bank Ltd., New Delhi

Appeal of the Revenue is dismissed

ITA 2074/DEL/2012[2008-09]Status: DisposedITAT Delhi06 Dec 2016AY 2008-09

Bench: Shri R. S. Syal & Smt Suchitra Kamble

Section 41(1)

…(1986) 158 ITR 102(SC).” (ii) On the facts and in circumstances of the case, Ld.CIT (A) has erred in deleting the addition of Rs.91, 45,294/- following the judgment of CIT vs. Tosha International Ltd. 331 ITR 440 (Delhi) 2011 and Goodricke Group Ltd. Vs. CIT 338 ITR 116(Cal) 2011 whereas both the judgments are not applicable to the facts brought out in the present case by A.O that the impugned liability had become time barred.” 3. The assessee is a Co-operative Bank and is engaged in banking business. The assessee claimed the interest income amount of Rs.42,12,605/- as interest income from the MPA (Non-performi…

Goodricke Group Limited v. CIT (338 ITR 116) — Cited in 9 Judgments | BharatTax