ITO v. Kanchan Tara Exports

138 TTJ 592Income Tax Appellate Tribunal#8191 most cited

What is ITO v. Kanchan Tara Exports authority for?

An Assessing Officer must consider factors like quality, size, employee cost, administrative cost, interest cost, working capital cost, debt recovery cost, and quality factors when determining sale price. Failure to give due weightage to these can invalidate additions made on account of lower sale price.

13

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

Also referred to as

ITO v. Kanchan Tara Exports · 138 TTJ 592 · sale price addition · quality of kernels · size of kernels · employee cost · administrative cost · interest cost · working capital cost · debt recovery cost

Judgments citing ITO v. Kanchan Tara Exports

M/S. Vijayalaxmicashew Co., Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 49/COCH/2016[2011-12]Status: DisposedITAT Cochin03 Feb 2020AY 2011-12

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…stified in making addition on account of lower sale price. This view of ours is fortified by the order of Tribunal in the case of Vijay C. Kamdar305 ITR (AT) 163 (Mum.). As held by the Jaipur Bench of the Tribunal in the case of ITO vs. Kanchan Tara Exports 138 TTJ 592, had the Assessing Officer given due rebate on account of quality and size of kernels, there could not have been any addition made by the Assessing Officer. Even while arriving at the sale price, the Assessing Officer has to give due weightage of the employees cost, administrative cost, interest cost, working capital cost, debt recovery cost, qu…

M/S. Vijayalaxmicashew Co., Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 48/COCH/2016[2010-11]Status: DisposedITAT Cochin03 Feb 2020AY 2010-11

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…stified in making addition on account of lower sale price. This view of ours is fortified by the order of Tribunal in the case of Vijay C. Kamdar305 ITR (AT) 163 (Mum.). As held by the Jaipur Bench of the Tribunal in the case of ITO vs. Kanchan Tara Exports 138 TTJ 592, had the Assessing Officer given due rebate on account of quality and size of kernels, there could not have been any addition made by the Assessing Officer. Even while arriving at the sale price, the Assessing Officer has to give due weightage of the employees cost, administrative cost, interest cost, working capital cost, debt recovery cost, qu…

M/S. Vijayalaxmicashew Co., Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 47/COCH/2016[2008-09]Status: DisposedITAT Cochin03 Feb 2020AY 2008-09

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…stified in making addition on account of lower sale price. This view of ours is fortified by the order of Tribunal in the case of Vijay C. Kamdar305 ITR (AT) 163 (Mum.). As held by the Jaipur Bench of the Tribunal in the case of ITO vs. Kanchan Tara Exports 138 TTJ 592, had the Assessing Officer given due rebate on account of quality and size of kernels, there could not have been any addition made by the Assessing Officer. Even while arriving at the sale price, the Assessing Officer has to give due weightage of the employees cost, administrative cost, interest cost, working capital cost, debt recovery cost, qu…

Sri.K.Ravindranathan Nair, Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 46/COCH/2016[2008-09]Status: DisposedITAT Cochin03 Feb 2020AY 2008-09

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…stified in making addition on account of lower sale price. This view of ours is fortified by the order of Tribunal in the case of Vijay C. Kamdar305 ITR (AT) 163 (Mum.). As held by the Jaipur Bench of the Tribunal in the case of ITO vs. Kanchan Tara Exports 138 TTJ 592, had the Assessing Officer given due rebate on account of quality and size of kernels, there could not have been any addition made by the Assessing Officer. Even while arriving at the sale price, the Assessing Officer has to give due weightage of the employees cost, administrative cost, interest cost, working capital cost, debt recovery cost, qu…

Smt. T.C. Usha, Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 45/COCH/2016[2010-11]Status: DisposedITAT Cochin03 Feb 2020AY 2010-11

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…stified in making addition on account of lower sale price. This view of ours is fortified by the order of Tribunal in the case of Vijay C. Kamdar305 ITR (AT) 163 (Mum.). As held by the Jaipur Bench of the Tribunal in the case of ITO vs. Kanchan Tara Exports 138 TTJ 592, had the Assessing Officer given due rebate on account of quality and size of kernels, there could not have been any addition made by the Assessing Officer. Even while arriving at the sale price, the Assessing Officer has to give due weightage of the employees cost, administrative cost, interest cost, working capital cost, debt recovery cost, qu…

Smt. T.C. Usha, Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 44/COCH/2016[2009-10]Status: DisposedITAT Cochin03 Feb 2020AY 2009-10

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…stified in making addition on account of lower sale price. This view of ours is fortified by the order of Tribunal in the case of Vijay C. Kamdar305 ITR (AT) 163 (Mum.). As held by the Jaipur Bench of the Tribunal in the case of ITO vs. Kanchan Tara Exports 138 TTJ 592, had the Assessing Officer given due rebate on account of quality and size of kernels, there could not have been any addition made by the Assessing Officer. Even while arriving at the sale price, the Assessing Officer has to give due weightage of the employees cost, administrative cost, interest cost, working capital cost, debt recovery cost, qu…

Sri.R.Prakash, Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 43/COCH/2016[2011-12]Status: DisposedITAT Cochin03 Feb 2020AY 2011-12

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…stified in making addition on account of lower sale price. This view of ours is fortified by the order of Tribunal in the case of Vijay C. Kamdar305 ITR (AT) 163 (Mum.). As held by the Jaipur Bench of the Tribunal in the case of ITO vs. Kanchan Tara Exports 138 TTJ 592, had the Assessing Officer given due rebate on account of quality and size of kernels, there could not have been any addition made by the Assessing Officer. Even while arriving at the sale price, the Assessing Officer has to give due weightage of the employees cost, administrative cost, interest cost, working capital cost, debt recovery cost, qu…

Sri.R.Prakash, Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 42/COCH/2016[2010-11]Status: DisposedITAT Cochin03 Feb 2020AY 2010-11

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…stified in making addition on account of lower sale price. This view of ours is fortified by the order of Tribunal in the case of Vijay C. Kamdar305 ITR (AT) 163 (Mum.). As held by the Jaipur Bench of the Tribunal in the case of ITO vs. Kanchan Tara Exports 138 TTJ 592, had the Assessing Officer given due rebate on account of quality and size of kernels, there could not have been any addition made by the Assessing Officer. Even while arriving at the sale price, the Assessing Officer has to give due weightage of the employees cost, administrative cost, interest cost, working capital cost, debt recovery cost, qu…

Sri.R.Prakash, Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 41/COCH/2016[2009-10]Status: DisposedITAT Cochin03 Feb 2020AY 2009-10

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…stified in making addition on account of lower sale price. This view of ours is fortified by the order of Tribunal in the case of Vijay C. Kamdar305 ITR (AT) 163 (Mum.). As held by the Jaipur Bench of the Tribunal in the case of ITO vs. Kanchan Tara Exports 138 TTJ 592, had the Assessing Officer given due rebate on account of quality and size of kernels, there could not have been any addition made by the Assessing Officer. Even while arriving at the sale price, the Assessing Officer has to give due weightage of the employees cost, administrative cost, interest cost, working capital cost, debt recovery cost, qu…

Sri.R.Prakash, Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 40/COCH/2016[2010-11]Status: DisposedITAT Cochin03 Feb 2020AY 2010-11

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…stified in making addition on account of lower sale price. This view of ours is fortified by the order of Tribunal in the case of Vijay C. Kamdar305 ITR (AT) 163 (Mum.). As held by the Jaipur Bench of the Tribunal in the case of ITO vs. Kanchan Tara Exports 138 TTJ 592, had the Assessing Officer given due rebate on account of quality and size of kernels, there could not have been any addition made by the Assessing Officer. Even while arriving at the sale price, the Assessing Officer has to give due weightage of the employees cost, administrative cost, interest cost, working capital cost, debt recovery cost, qu…

Sri.R. Pratap, Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 39/COCH/2016[2010-11]Status: DisposedITAT Cochin03 Feb 2020AY 2010-11

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…stified in making addition on account of lower sale price. This view of ours is fortified by the order of Tribunal in the case of Vijay C. Kamdar305 ITR (AT) 163 (Mum.). As held by the Jaipur Bench of the Tribunal in the case of ITO vs. Kanchan Tara Exports 138 TTJ 592, had the Assessing Officer given due rebate on account of quality and size of kernels, there could not have been any addition made by the Assessing Officer. Even while arriving at the sale price, the Assessing Officer has to give due weightage of the employees cost, administrative cost, interest cost, working capital cost, debt recovery cost, qu…

Sri.R. Pratap, Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 38/COCH/2016[2010-11]Status: DisposedITAT Cochin03 Feb 2020AY 2010-11

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…stified in making addition on account of lower sale price. This view of ours is fortified by the order of Tribunal in the case of Vijay C. Kamdar305 ITR (AT) 163 (Mum.). As held by the Jaipur Bench of the Tribunal in the case of ITO vs. Kanchan Tara Exports 138 TTJ 592, had the Assessing Officer given due rebate on account of quality and size of kernels, there could not have been any addition made by the Assessing Officer. Even while arriving at the sale price, the Assessing Officer has to give due weightage of the employees cost, administrative cost, interest cost, working capital cost, debt recovery cost, qu…

Sri.R. Pratap, Kollam vs. The ACIT, Kollam

In the result, the appeals of the assessees in ITA Nos

ITA 37/COCH/2016[2009-10]Status: DisposedITAT Cochin03 Feb 2020AY 2009-10

Bench: S/Shri Chandra Poojari, Am&George George K., Jm

…stified in making addition on account of lower sale price. This view of ours is fortified by the order of Tribunal in the case of Vijay C. Kamdar305 ITR (AT) 163 (Mum.). As held by the Jaipur Bench of the Tribunal in the case of ITO vs. Kanchan Tara Exports 138 TTJ 592, had the Assessing Officer given due rebate on account of quality and size of kernels, there could not have been any addition made by the Assessing Officer. Even while arriving at the sale price, the Assessing Officer has to give due weightage of the employees cost, administrative cost, interest cost, working capital cost, debt recovery cost, qu…