Income-tax Rule, 1962 475 Tirupati Trading Co. Vs. CIT(Cal.) 242 ITR 13 CIT v. Sujanni Textiles (P) Ltd.(Mad-)

185 ITR 324High Court1990#11244 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2023.

Judgments citing Income-tax Rule, 1962 475 Tirupati Trading Co. Vs. CIT(Cal.) 242 ITR 13 CIT v. Sujanni Textiles (P) Ltd.(Mad-)

M/S. RMZ HOTELS PRIVATE LIMITED,BANGALORE vs. NATIONAL E-ASSESSMENT CENTRE, DELHI

In the result, the appeal of the assessee is allowed

ITA 954/BANG/2022[2018-19]Status: DisposedITAT Bangalore22 Feb 2023AY 2018-19

Bench: Shri Chandra Poojariassessment Year: 2018-19

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri Ganesh R. Ghale, Standing Counsel for Department
Section 234Section 255Section 255(3)Section 36

…ITA No.954/Bang/2022 M/s. RMZ Hotels Private Limited, Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” “C’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER Assessment Year: 2018-19 M/s. RMZ Hotels Private Limited The Millenia Level 1 & 14, No.1 & 2 Murphy Road NFAC Vs. Ulsoor Delhi Bangalore 560 008. PAN NO : AADCR3654H APPELLANT RESPONDENT Appellant by : Shri V. Srinivasan, A.R. Respondent by : Shri Ganesh R. Ghale, Standing Counsel for Department. Date of Hearing : 08.02.2023 Date of Pronouncement : 22.02.2023 O R D E R This appeal by assessee is directed against order of CIT(A) dat…

ACIT 16(1), MUMBAI vs. TIPS INDUSTRIES LTD, MUMBAI

In the result, the appeal filed by revenue in ITA no

ITA 6291/MUM/2017[2012-13]Status: DisposedITAT Mumbai03 May 2019AY 2012-13

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…India Silk House (Mad.) 152 of the Income-tax Rule, 1962 79 Marolia & Sons Vs. CIT(All) 129 of the Income-tax Rule, 1962 475 Tirupati Trading Co. Vs. CIT(Cal.) 242 ITR 13 CIT Vs. Sujanni Textiles (P) Ltd.(Mad-) 225 ITR 560 CIT Vs. P. Ganu Rao and Sons (Mad.) 185 ITR 324" Thus, in the light of above, factual references and judicial proposals, the disallowance of interest expenditure of Rs. 1,08,00,000/- made u/s.36(1)(iii) is sustained.” 7.2. Similarly, the assessee also contended before learned CIT(A) that an amount of Rs. 20,00,000/- paid on account of advance towards audio rights is revenue in nature, by submi…

TIPS INDUSTRIES LTD,MUMBAI vs. ACIT 16(1), MUMBAI

In the result, the appeal filed by revenue in ITA no

ITA 6196/MUM/2017[2013-14]Status: DisposedITAT Mumbai03 May 2019AY 2013-14

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…India Silk House (Mad.) 152 of the Income-tax Rule, 1962 79 Marolia & Sons Vs. CIT(All) 129 of the Income-tax Rule, 1962 475 Tirupati Trading Co. Vs. CIT(Cal.) 242 ITR 13 CIT Vs. Sujanni Textiles (P) Ltd.(Mad-) 225 ITR 560 CIT Vs. P. Ganu Rao and Sons (Mad.) 185 ITR 324" Thus, in the light of above, factual references and judicial proposals, the disallowance of interest expenditure of Rs. 1,08,00,000/- made u/s.36(1)(iii) is sustained.” 7.2. Similarly, the assessee also contended before learned CIT(A) that an amount of Rs. 20,00,000/- paid on account of advance towards audio rights is revenue in nature, by submi…

TIPS INDUSTRIES LTD,MUMBAI vs. ACIT 16(1), MUMBAI

In the result, the appeal filed by revenue in ITA no

ITA 6195/MUM/2017[2012-13]Status: DisposedITAT Mumbai03 May 2019AY 2012-13

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…India Silk House (Mad.) 152 of the Income-tax Rule, 1962 79 Marolia & Sons Vs. CIT(All) 129 of the Income-tax Rule, 1962 475 Tirupati Trading Co. Vs. CIT(Cal.) 242 ITR 13 CIT Vs. Sujanni Textiles (P) Ltd.(Mad-) 225 ITR 560 CIT Vs. P. Ganu Rao and Sons (Mad.) 185 ITR 324" Thus, in the light of above, factual references and judicial proposals, the disallowance of interest expenditure of Rs. 1,08,00,000/- made u/s.36(1)(iii) is sustained.” 7.2. Similarly, the assessee also contended before learned CIT(A) that an amount of Rs. 20,00,000/- paid on account of advance towards audio rights is revenue in nature, by submi…

TIPS INDUSTRIES LTD,MUMBAI vs. ACIT 11(1), MUMBAI

In the result, the appeal filed by revenue in ITA no

ITA 6194/MUM/2017[2011-12]Status: DisposedITAT Mumbai03 May 2019AY 2011-12

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…India Silk House (Mad.) 152 of the Income-tax Rule, 1962 79 Marolia & Sons Vs. CIT(All) 129 of the Income-tax Rule, 1962 475 Tirupati Trading Co. Vs. CIT(Cal.) 242 ITR 13 CIT Vs. Sujanni Textiles (P) Ltd.(Mad-) 225 ITR 560 CIT Vs. P. Ganu Rao and Sons (Mad.) 185 ITR 324" Thus, in the light of above, factual references and judicial proposals, the disallowance of interest expenditure of Rs. 1,08,00,000/- made u/s.36(1)(iii) is sustained.” 7.2. Similarly, the assessee also contended before learned CIT(A) that an amount of Rs. 20,00,000/- paid on account of advance towards audio rights is revenue in nature, by submi…

TIL HEALTHCARE PVT LTD.,CHENNAI vs. ACIT CORPORE WARD 3(1), CHENNAI

In the result, the appeal of the assessee is allowed

ITA 2416/CHNY/2017[2012-13]Status: DisposedITAT Chennai17 Apr 2018AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri A.Mohan Alankamonyआयकर अपील सं./I.T.A.No.2416/Chny/2017 ("नधा"रण वष" / Assessment Year: 2012-13) Vs The Acit, M/S. Til Healthcare Pvt. Ltd., Corporate Ward – 3(1), Jhaver Centre, Raja Annamalai Building, Chennai. No.72, Marshalls Road, Egmore, Chennai – 600 008. Pan: Aabct0985H (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri T. Banusekar, Ca अपीलाथ" क" ओर से/ Appellant By : Shri Ar.V. Sreenivasan, Jcit ""यथ" क" ओर से/Respondent By : 08.02.2018 सुनवाई क" तार"ख/Date Of Hearing : 17.04.2018 घोषणा क" तार"ख /Date Of Pronouncement

For Appellant: Shri AR.V. Sreenivasan, JCITFor Respondent: 08.02.2018
Section 10Section 143(2)Section 143(3)Section 14ASection 250(6)Section 36(1)(iii)

…238 ITR 939, the decision of the Hon’ble High Court of Kerala in the case CIT vs. Popular Vehicles and Services Ltd., reported in 325 ITR 523 and the decision of the Hon’ble Jurisdictional Madras High Court in the case CIT vs. P. Ganu Rao & Sons reported in 185 ITR 324 confirmed the order of the Ld.AO by holding that the appellant had diverted interest bearing borrowed loans to three parties without charging interest which amounts to diversion of business fund for non-business purposes. 5.1 Before us the Ld.AR submitted the balance sheet of the assessee for the relevant assessment year, wherein the share- ho…

KULODAY TECHNOPACK P. LTD,MUMBAI vs. ITO 8(2)(2), MUMBAI

In the result, appeal of the assessee in ITA No

ITA 3300/MUM/2013[2009-10]Status: DisposedITAT Mumbai29 Sept 2017AY 2009-10

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No. 3300/Mum/2013 (नििाारण वर्ा / Assessment Year : 2009-10 ) आयकर अपीऱ सं./I.T.A. No. 2423/Mum/2014 (नििाारण वर्ा / Assessment Year : 2010-11)

For Appellant: Shri. M. SubramanianFor Respondent: Shri Rajesh Kumar Yadav,DR
Section 143(3)Section 154Section 172Section 172(1)Section 194CSection 195Section 40

…ns or other persons without interest. K. Somasundaram & Bros.vs. CIT (1999) 153 CTR (Mad) 153: (1999) 238 ITR 939 (Mad), CIT vs. M.S. Venkateswaran (1997) 141 CTR (Mad) 510 : (1996) 222 ITR 163 (Mad), CIT vs. P. Ganu Rao & Sons (1989) 77 CTR (Mad) 28 : (1990) 185 ITR 324 (Mad), CIT vs V.I. Baby & Co. (2002) 174 CTR (Ker) 164 : (2002) 254 ITR 248 (Ker), CIT vs, Motor General Finance Ltd. (2002) 173 CTR (Del) 123 : (2002) 254 ITR 449 (Del), CIT vs. H.R. Sugar Factory (P) Ltd. (1990) 87 CTR (All) 132 : (1991) 187 ITR 363 (All), Indian Metals and Ferro Alloys Ltd. vs. CIT (1992) 193 ITR 344 (Ori), CIT vs. H.R. Sugar…

STREAMLINE SHIPPING CO. P. LTD,MUMBAI vs. DCIT 3(3), MUMBAI

In the result, the appeal is partly allowed

ITA 855/MUM/2012[2007-08]Status: DisposedITAT Mumbai28 Apr 2017AY 2007-08

Bench: Shri Joginder Singh () & Shri N.K. Pradhan () Assessment Year: 2007-08

For Appellant: Shri M. Subramanian, ARFor Respondent: Shri Vishwas Mundhe, DR
Section 10(34)Section 143(3)Section 14ASection 271

…Silk House (Mad) 152 ITR 79, Marolia & Sons vs. CIT (All) 129 ITR 475, Tirupati Trading Co vs. CIT (CL) 242 ITR 13, CIT vs. Sujanni Textiles (P) Ltd. (Mad) 225 ITR 560, CIT vs. H.R. Sugar Factory (P) Ltd. (All) 187 ITR 363, CIT vs. P. Ganu Rao and Sons (Mad) 185 ITR 324. The contention of the assessee that the total rate of interest including exchange fluctuations comes to 13% is to be verified. In view of the above the order of the learned CIT(A) on the above issue is set aside and the same is restored to the file of the A.O. to make a fresh assessment after verification of the rate of interest calculated by th…

P.SUNDARARAJAN,AVANASHI vs. DCIT, TIRUPPUR

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

ITA 1666/CHNY/2013[2006-07]Status: DisposedITAT Chennai25 Jun 2015AY 2006-07

Bench: Shri Chandra Poojari & Shri V. Durga Raoआयकर अपील सं./ I.T.A. No.1666/Mds/2013 ("नधा"रण वष" / Assessment Year : 2006-2007)

For Appellant: Shri. G. Baskar, AdvocateFor Respondent: Shri. N. Madhavan, IRS, JCIT
Section 143(3)Section 147Section 148Section 36

…he assessee is entitled to deduction under Section 36(1)(iii) with regard to the interest paid on borrowed capital, which was utilised by the assessee's father for non-business purposes. 14.2 In the case of Commissioner of Income-tax v. P. Ganu Rao and Sons, 185 ITR 324 (Mad), interest on borrowed capital to the extent the same was utilised for non- business purposes was disallowed under Section 36(1)(viii) of the Act. I.T.A.No.1666/Mds/2013. :- 22 -: 14.3 In the case of Commissioner of Income-Tax v. V.I. Baby and Co., 254 ITR 248, the Kerala High Court, while reversing the order of the Tribunal, held as un…

Income-tax Rule, 1962 475 Tirupati Trading Co. Vs. CIT(Cal.) 242 ITR 13 CIT v. Sujanni Textiles (P) Ltd.(Mad-) (185 ITR 324) — Cited in 9 Judgments | BharatTax