Howrah Trading Co. Ltd. v. CIT

36 ITR 215Supreme Court of India1959#24649 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 348,627 Indian tax judgments — from 2016 to 2021.

Judgments citing Howrah Trading Co. Ltd. v. CIT

Dabur Invest Corp, New Delhi vs. JCIT, Range-46, New Delhi

In the result, appeal of the assessee is partly allowed

ITA 8058/DEL/2018[2015-16]Status: DisposedITAT Delhi11 Feb 2021AY 2015-16

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi(Partially Through Video Conferencing) Dabur Invest Corp, The Joint Commissioner Of Vs. 4Th Floor, Punjabi Bhawan, 10, Income Tax , Rouse Avenue, New Delhi Range-46, Pan: Aaadfd2529G New Delhi (Appellant) (Respondent)

For Appellant: Shri M. P. Rastogi, AdvFor Respondent: Shri G. C. Srivastava, Adv

Section 143Section 4

…ly the right of appropriation of the option money so received also accrued on the date of divestment. Under the law, in the case of transfer, the liability to tax accrued on the date of transfer of title in the assets. 57 ITR 185 (SC) Appavoo Pillai vs. CIT 36 ITR 215 (SC) Howrah Trading Co. Ltd. vs. CIT 151 ITR 122 (Mad) CIT vs. M. Ramaswami 203 ITR 663-665 (Ker) Rajagiri Rubber Produce Co. Ltd. vs. CIT Therefore, looking to the overall terms and conditions of the joint venture agreement, the purpose of payment of option money by CUIH to Dabur as well as the date of appropriation of the option money at the t…

Rajendra L.Agarwal, Pune vs. Income-Tax Officer, (International Taxation -I), Pune

ITA 2330/PUN/2017[2012-13]Status: DisposedITAT Pune31 Aug 2018AY 2012-13

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं आयकर अपील सं. / Ita No. 2330/Pun/2017 आयकर अपील सं आयकर अपील सं िनधा"रण वष" / Assessment Year : 2012-13 िनधा"रण वष" िनधा"रण वष" िनधा"रण वष"

For Appellant: Shri Sunil PathakFor Respondent: Shri Rajeev Kumar &

Section 54F

…egal expenses incurred in connection with the asset and title search verification etc. constitutes allowable expenditure as part of the cost of acquisition. It was so decided relying on the Apex Court judgment in the case of Howrah Trading Co. Ltd. Vs. CIT, 36 ITR 215 (SC). Further, the Ld. Counsel for the assessee submitted the decision of Hon'ble Calcutta High Court is very much relevant in the instant case for the following legal propositions: “Expenditure incurred for getting shares registered in the name of the assessee and for conducting suits filed for amending the rules of the company has to be consid…

Shiv Transport & Travels, Kolkata vs. ITO, WD-56(1), Kolkata

In the result, the appeal of the Assessee is allowed

ITA 889/KOL/2015[2007-2008]Status: DisposedITAT Kolkata03 Feb 2016AY 2007-2008

Bench: Hon’Ble Sri N.V.Vasudevan, Jm ] I.T.A No. 889/Kol/2015 Assessment Year : 2007-08

For Appellant: Shri Anil Kochar, AdvocateFor Respondent: Md.Gayas Uddin Ansari, JCIT, Sr.DR

Section 2(22)Section 2(22)(e)Section 2(32)Section 77A

…Associates (P) Ltd. The Hon’ble Court also held that it was settled principle of law that the deeming provision has to be construed strictly. The Hon’ble Allahabad High Court also referred to the decision in the case of Howrah Trading Co. Ltd. vs. CIT (1959) 36 ITR 215 (SC) and CIT vs. C.P. Sarathy Mudaliar (1972) 83 ITR 170 (SC). In the later decision, s. 2(6A)(e) of the Act, 1922 was under consideration, which was synonymous to s. 2(22)(e) of the IT Act, 1961. In the said case, members of HUF acquired shares in a company with the fund of the family. Loans were granted to HUF and the question was whether the lo…