Hirsh Bracelet India (P.) Ltd. v. ACIT

178 ITD 601Income Tax Appellate Tribunal2019#23189 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2020 to 2024.

Judgments citing Hirsh Bracelet India (P.) Ltd. v. ACIT

ACIT., Circle-2(1), Hyderabad vs. Teckbond Laboratories Private Ltd, Ameerpet

ITA 632/HYD/2024[2017-18]Status: DisposedITAT Hyderabad21 Oct 2024AY 2017-18

Bench: Shri K. Narasimha Chary & Shri Madhusudan Sawdia

For Appellant: NoneFor Respondent: : Shri Madan Mohan Meena

Section 143(3)

…keep the company alive it sold its assets as it had to incur expenditure. It objected to the observation of the AO to disallow the expenditure since there was no business activity. The assessee cited the case of Hirsh Bracelet India (P.) Ltd. v. ACIT (2019) 178 ITD 601 (Bang.) (Trib.). The case law cited has been perused. Relevant extract of the judgment is reproduced here as under: "18. We have considered the rival submissions. It is an undisputed fact that though business of assessee came to a halt in the year 2010, yet the assessee was liquidating its assets. The assessee had only a leasehold rights on the…

M/S. Fnf India Private Limited, Bengaluru vs. Assistant Commissioner of Income Tax, Circle- 3(1)(1), Bangalore

In the result, the appeal by the assessee is partly allowed for statistical purposes

ITA 1565/BANG/2019[2016-17]Status: DisposedITAT Bangalore05 Jan 2021AY 2016-17

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2016-17

For Appellant: Shri K R Vasudevan, AdvocateFor Respondent: Ms. Neera Malhotra, CIT(DR)(ITAT), Bengaluru

Section 135Section 135(5)Section 143(3)Section 80G

…also by the judgment of Hon’ble Delhi High Court in the case of PCIT v. Western India Shipyard Ltd. [2017] 88 taxmann.com 448 (Delhi) and ACIT v. Eastern Silk Industries Ltd. [ 2019] 109 taxmann.com 204 (Kolkata Trib.) as well as Hirsh Bracelet India (P) Ltd. 178 ITD 601 (Bang. Trib.). Being so, in our opinion, the assessee in principle is entitled to claim deduction of gratuity paid before the appellate authorities. Accordingly, we remit this issue to the file of AO to quantify the amount of deduction towards gratuity and decide accordingly. Page 10 of 10 15. In the result, the appeal by the assessee is partly…

M/S. Safina Hotels Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle- 6(1)(1), Bangalore

In the result, the appeal of the assessee is allowed

ITA 2512/BANG/2019[2016-17]Status: DisposedITAT Bangalore09 Nov 2020AY 2016-17

Bench: Shri N.V. Vasudevan & Shri Chandra Poojarim/S. Safina Hotels Pvt. Ltd., 84/85, Safina Plaza, Infantry Road, Bangalore-560 001 ….Appellant Pan Aaccs 5146G Vs. Dy. Commissioner Of Income Tax, Circle 6(1)(1), Bangalore. ……Respondent. Assessee By: Shri Tata Krishna, Advocate. Revenue By: Shri Kannan Narayanan, Jcit(D.R)

For Appellant: Shri Tata Krishna, AdvocateFor Respondent: Shri Kannan Narayanan, JCIT(D.R)

Section 143(2)Section 143(3)Section 32Section 37

…following judgements : 14 i) CIT Vs. Malayalam Plantations Ltd. (1964) 53 ITR 140 (SC) ii) CIT Vs. Delhi Safe Deposit Co. Ltd. (1982) 133 ITR 756 (SC) iii) CIT Vs. Lawrence D’Souza (2011) 203 Taxman 200 (Kar) iv) Hirsh Bracelet India (P) Ltd. Vs. ACIT (2019) 178 ITD 601 (Bang – Trib) v) Sai Fragrance & Flavours (P) Ltd. Vs. ACIT (2018) 169 ITD 235 (Mum-Trib). 5.1 Further it was submitted that even the assessee has discontinued hotel business it is necessary to use the Car by the Director of the assessee company and there will be wear and tear which is in the nature of depreciation for which the assessee is entit…