Jai Kishan Narang v. CIT

50 ITR 700High Court#25159 most cited
3

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

Judgments citing Jai Kishan Narang v. CIT

Doubledot Finance Ltd, Mumbai vs. DCIT RG 4(1), Mumbai

In the result, the appeal is partly allowed

ITA 552/MUM/2011[2006-07]Status: DisposedITAT Mumbai29 Mar 2017AY 2006-07

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2006-07 M/S. Doubledot Finance Ltd. Vs. Dcit Rg 4(1) R. No. 642, 1St Floor, Kanta Terrace Room No. 640 533, Kalbadevi Road, M.K. Road, Aayakar Bhavan Mumbai – 400002 Mumbai - 400020 Pan No. Aabcd5429J (Appellant) (Respondent) Assessment Year: 2006-07 Dcit Rg 4(1) Vs. M/S. Doubledot Finance Ltd. R. No. Room No. 640 R. No. 642, 1St Floor, Kanta Terrace M.K. Road, Aayakar Bhavan 533, Kalbadevi Road, Mumbai – 400020 Mumbai - 400002 Pan No. Aaacd5429J Assessment Year: 2007-08 M/S. Doubledot Finance Ltd. Vs. Dcit Rg 4(1) R. No. 642, 1St Floor, Kanta Terrace Room No. 640 533, Kalbadevi Road, M.K. Road, Aayakar Bhavan Mumbai – 400002 Mumbai - 400020 Pan No. Aabcd5429J

For Appellant: Shri Dharmesh Shah, ARFor Respondent: Shri Purushottam Kumar, DR
Section 143(3)Section 14ASection 176

…vious year 2005-06, the AO disallowed the same in computation of income for the A.Y. 2006- 07. On the same reasoning he disallowed the claim also in the A.Y. 2007-08. The AO relied on the judgement of the Hon'ble Bombay High Court in Jai Kishan Narang vs. CIT 50 ITR 700 (Bom) stating that loss of a dead, separate and distinct business cannot be set off against income of another continuing business. The AO also relied on the decision in the case of I.S. & C. Machado vs. CIT 75 ITR 38 (Mad.) wherein it has been held that as the lease rent and cess do not relate to the current years business of the assessee, they ar…

Doubledot Finance Ltd, Mumbai vs. DCIT RG 4(1), Mumbai

In the result, the appeal is partly allowed

ITA 156/MUM/2011[2007-08]Status: DisposedITAT Mumbai29 Mar 2017AY 2007-08

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2006-07 M/S. Doubledot Finance Ltd. Vs. Dcit Rg 4(1) R. No. 642, 1St Floor, Kanta Terrace Room No. 640 533, Kalbadevi Road, M.K. Road, Aayakar Bhavan Mumbai – 400002 Mumbai - 400020 Pan No. Aabcd5429J (Appellant) (Respondent) Assessment Year: 2006-07 Dcit Rg 4(1) Vs. M/S. Doubledot Finance Ltd. R. No. Room No. 640 R. No. 642, 1St Floor, Kanta Terrace M.K. Road, Aayakar Bhavan 533, Kalbadevi Road, Mumbai – 400020 Mumbai - 400002 Pan No. Aaacd5429J Assessment Year: 2007-08 M/S. Doubledot Finance Ltd. Vs. Dcit Rg 4(1) R. No. 642, 1St Floor, Kanta Terrace Room No. 640 533, Kalbadevi Road, M.K. Road, Aayakar Bhavan Mumbai – 400002 Mumbai - 400020 Pan No. Aabcd5429J

For Appellant: Shri Dharmesh Shah, ARFor Respondent: Shri Purushottam Kumar, DR
Section 143(3)Section 14ASection 176

…vious year 2005-06, the AO disallowed the same in computation of income for the A.Y. 2006- 07. On the same reasoning he disallowed the claim also in the A.Y. 2007-08. The AO relied on the judgement of the Hon'ble Bombay High Court in Jai Kishan Narang vs. CIT 50 ITR 700 (Bom) stating that loss of a dead, separate and distinct business cannot be set off against income of another continuing business. The AO also relied on the decision in the case of I.S. & C. Machado vs. CIT 75 ITR 38 (Mad.) wherein it has been held that as the lease rent and cess do not relate to the current years business of the assessee, they ar…

DCIT RG 4(1), Mumbai vs. Double Dot Finance Ltd, Mumbai

In the result, the appeal is partly allowed

ITA 1079/MUM/2011[2006-07]Status: DisposedITAT Mumbai29 Mar 2017AY 2006-07

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2006-07 M/S. Doubledot Finance Ltd. Vs. Dcit Rg 4(1) R. No. 642, 1St Floor, Kanta Terrace Room No. 640 533, Kalbadevi Road, M.K. Road, Aayakar Bhavan Mumbai – 400002 Mumbai - 400020 Pan No. Aabcd5429J (Appellant) (Respondent) Assessment Year: 2006-07 Dcit Rg 4(1) Vs. M/S. Doubledot Finance Ltd. R. No. Room No. 640 R. No. 642, 1St Floor, Kanta Terrace M.K. Road, Aayakar Bhavan 533, Kalbadevi Road, Mumbai – 400020 Mumbai - 400002 Pan No. Aaacd5429J Assessment Year: 2007-08 M/S. Doubledot Finance Ltd. Vs. Dcit Rg 4(1) R. No. 642, 1St Floor, Kanta Terrace Room No. 640 533, Kalbadevi Road, M.K. Road, Aayakar Bhavan Mumbai – 400002 Mumbai - 400020 Pan No. Aabcd5429J

For Appellant: Shri Dharmesh Shah, ARFor Respondent: Shri Purushottam Kumar, DR
Section 143(3)Section 14ASection 176

…vious year 2005-06, the AO disallowed the same in computation of income for the A.Y. 2006- 07. On the same reasoning he disallowed the claim also in the A.Y. 2007-08. The AO relied on the judgement of the Hon'ble Bombay High Court in Jai Kishan Narang vs. CIT 50 ITR 700 (Bom) stating that loss of a dead, separate and distinct business cannot be set off against income of another continuing business. The AO also relied on the decision in the case of I.S. & C. Machado vs. CIT 75 ITR 38 (Mad.) wherein it has been held that as the lease rent and cess do not relate to the current years business of the assessee, they ar…

Jai Kishan Narang v. CIT (50 ITR 700) — Cited in 3 Judgments | BharatTax