Greaves Ltd. v. CIT

251 ITR 190High Court#23986 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2018.

Judgments citing Greaves Ltd. v. CIT

ACIT 8(1), Mumbai vs. Afcons Infrastructure Ltd, Mumbai

The appeals of the AO stands dismissed

ITA 8127/MUM/2011[2008-09]Status: DisposedITAT Mumbai02 May 2018AY 2008-09
For Appellant: Shri J.D. Mistry and Shri Nitesh JoshiFor Respondent: Shri Samuel Darse-CIT-DR
Section 14Section 14ASection 254(1)

…on the same section, that AO had allowed the bad debts, that the AO had rightly held that advances written of could not be allowed u/s. 36 of the Act. He referred to the cases of Basumal Jagat Narayan(38 ITR 447),United Breweries Ltd(321 ITR 446),Greaves Ltd.(251 ITR 190),Wheel and Rim India Ltd (275 ITR 648) and held that losses incidental to business were allowable as deduction despite their being no specific provision for the same, that if there was a direct and proximate nexus between the business operation and the loss,the loss had to be allowed,that the case of the assessee fell under the head business loss…

Afcons Infrastructure Ltd, Mumbai vs. Asst CIT RG 8(1), Mumbai

The appeals of the AO stands dismissed

ITA 7098/MUM/2011[2008-09]Status: DisposedITAT Mumbai02 May 2018AY 2008-09
For Appellant: Shri J.D. Mistry and Shri Nitesh JoshiFor Respondent: Shri Samuel Darse-CIT-DR
Section 14Section 14ASection 254(1)

…on the same section, that AO had allowed the bad debts, that the AO had rightly held that advances written of could not be allowed u/s. 36 of the Act. He referred to the cases of Basumal Jagat Narayan(38 ITR 447),United Breweries Ltd(321 ITR 446),Greaves Ltd.(251 ITR 190),Wheel and Rim India Ltd (275 ITR 648) and held that losses incidental to business were allowable as deduction despite their being no specific provision for the same, that if there was a direct and proximate nexus between the business operation and the loss,the loss had to be allowed,that the case of the assessee fell under the head business loss…

Chaitanya Builders & Leasing (P) Ltd., Chennai vs. ACIT, Chennai

In the result, the appeal of the assessee is dismissed

ITA 1829/CHNY/2015[2006-07]Status: DisposedITAT Chennai03 May 2017AY 2006-07

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.1829/Mds/2015 "नधा*रण वष* /Assessment Year: 2006-07

For Respondent: Mr.A.V.Sreekanth, JCIT
Section 36(1)(vii)Section 36(2)(i)

…claimed a sum of Rs.1,37,760/- representing advances made to parties and claimed it on the ground that they represented business debt while the same were in fact diverted for personal benefit of the Managing Director of the management. In Greaves Ltd v. CIT, 251 ITR 190 (Bom), while considering write offs in respect of bad debts, the Hon’ble court found that the same did not constitute debts but were of loss on sale of assessee’s rights. There was no basis to show as to how the loans and advances constituted trading loss. In this case, the assessee :- 3 -: was a trader in goods and there was nothing to indicate…

Greaves Ltd. v. CIT (251 ITR 190) — Cited in 3 Judgments | BharatTax