JCIT v. India Equipment Leasing Ltd.

111 ITD 37Income Tax Appellate Tribunal2008#11009 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2024.

Sections most often in play

Section 1961Section 36(1)(viia)(d) of the Income-tax ActSection 143(3) of the Income-tax ActSection 144B of the Income-tax ActSection 36(1)(viia)(d)Section 37(1) of the Income-tax Act

Issues it is cited on

section 36(i)section 63section 36(1)(viia)right to receivemercantile system of accountingmiscellaneous applicationappeal before cit(a)revenue expendituresection 28section 36(1)section 37(1)section 36

Judgments citing JCIT v. India Equipment Leasing Ltd.

JCIT(OSD) CORPORATE CIRCLE-1(1) , CHENNAI vs. M/S CHOLAMANDALAM INVESTMENT AND FIANCE COMPPANY LIMITED, CHENNAI

In the result, the appeals filed by the assessee in ITA

ITA 515/CHNY/2023[2018-19]Status: DisposedITAT Chennai14 Aug 2024AY 2018-19

Bench: Shri Mahavir Singhand Shri S.R. Raghunatha

For Appellant: Shri Ajit Jain, CA (Through Virtual)For Respondent: Shri Nilay Baran Som, CIT
Section 143(3)

…e of the effective supervision, ITA Nos.384, 514 & 515/CHNY/2023 management and control of monetary and credit system of country and not for taking interest income accrued as per section 5 of the Act: i) JCIT Spl Range 2 vs India Equipment Leasing Ltd (2008) 111 ITD 37 ii) ITO versus Trade Link Securities Ltd (2014) 46 Taxmann.com 190 (Kolkata) The ld.CIT(DR) further submitted that when it comes to expenditure, the assessee claims whole of the finance charges on the footing of 'having incurred the expenditure’ in respect of its claim for deduction on account of prepaid finance charges, which the department deni…

JCIT(OSD) CORPORATE CIRCLE-1(1) , CHENNAI vs. M/S CHOLAMANDALAM INVESTMENT AND FIANCE COMPPANY LIMITED, CHENNAI

In the result, the appeals filed by the assessee in ITA

ITA 514/CHNY/2023[2017-18]Status: DisposedITAT Chennai14 Aug 2024AY 2017-18

Bench: Shri Mahavir Singhand Shri S.R. Raghunatha

For Appellant: Shri Ajit Jain, CA (Through Virtual)For Respondent: Shri Nilay Baran Som, CIT
Section 143(3)

…e of the effective supervision, ITA Nos.384, 514 & 515/CHNY/2023 management and control of monetary and credit system of country and not for taking interest income accrued as per section 5 of the Act: i) JCIT Spl Range 2 vs India Equipment Leasing Ltd (2008) 111 ITD 37 ii) ITO versus Trade Link Securities Ltd (2014) 46 Taxmann.com 190 (Kolkata) The ld.CIT(DR) further submitted that when it comes to expenditure, the assessee claims whole of the finance charges on the footing of 'having incurred the expenditure’ in respect of its claim for deduction on account of prepaid finance charges, which the department deni…

CHOLAMANDALAM INVESTMENT &FINANCE COMPANY LIMITED,PARRYS, CHENNAI vs. ACIT- CORPORATE CIRCLE -1(2), CHENNAI

In the result, the appeals filed by the assessee in ITA

ITA 384/CHNY/2023[AY 2017-2018]Status: DisposedITAT Chennai14 Aug 2024

Bench: Shri Mahavir Singhand Shri S.R. Raghunatha

For Appellant: Shri Ajit Jain, CA (Through Virtual)For Respondent: Shri Nilay Baran Som, CIT
Section 143(3)

…e of the effective supervision, ITA Nos.384, 514 & 515/CHNY/2023 management and control of monetary and credit system of country and not for taking interest income accrued as per section 5 of the Act: i) JCIT Spl Range 2 vs India Equipment Leasing Ltd (2008) 111 ITD 37 ii) ITO versus Trade Link Securities Ltd (2014) 46 Taxmann.com 190 (Kolkata) The ld.CIT(DR) further submitted that when it comes to expenditure, the assessee claims whole of the finance charges on the footing of 'having incurred the expenditure’ in respect of its claim for deduction on account of prepaid finance charges, which the department deni…

M/S CHOLAMANDALAM INVESTMENT & FINANCE COMPANY LIMITED,CHENNAI vs. DCIT-1(2), CHENNAI

In the result, the appeals filed by the assessee in ITA

ITA 847/CHNY/2020[2012-13]Status: DisposedITAT Chennai14 Aug 2024AY 2012-13

Bench: Shri Mahavir Singhand Shri S.R. Raghunatha

For Appellant: Shri Ajit Jain, CA (Through Virtual)For Respondent: Shri Nilay Baran Som, CIT
Section 143(3)

…e of the effective supervision, ITA Nos.384, 514 & 515/CHNY/2023 management and control of monetary and credit system of country and not for taking interest income accrued as per section 5 of the Act: i) JCIT Spl Range 2 vs India Equipment Leasing Ltd (2008) 111 ITD 37 ii) ITO versus Trade Link Securities Ltd (2014) 46 Taxmann.com 190 (Kolkata) The ld.CIT(DR) further submitted that when it comes to expenditure, the assessee claims whole of the finance charges on the footing of 'having incurred the expenditure’ in respect of its claim for deduction on account of prepaid finance charges, which the department deni…

DCIT CORPORATE CIRCLE 2(1), CHENNAI vs. FULLERTON INDIA CREDIT COMPANY LTD., CHENNAI

In the result, the appeals filed by the assessee are allowed and the appeals filed by the Revenue are dismissed

ITA 1473/CHNY/2018[2012-13]Status: DisposedITAT Chennai05 Dec 2018AY 2012-13

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy

For Appellant: Shri G.S.P. Babu, AdvocateFor Respondent: Mrs. Ruby George, CIT
Section 145

…आयकर अपीलीय अिधकरण, ‘बी’ "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी अ"ाहम पी. जॉज", लेखा सद" एवं "ी धु"ु" आर.एल रे"ी, "ाियक सद" के सम" Before Shri Abraham P. George, Accountant Member & Shri Duvvuru RL Reddy, Judicial Member I.T.A. Nos. 1083, 1084 & 1085/Chny/2018 Assessment Years: 2010-11, 11-12 & 12-13 M/s. Fullerton India Credit Co. Ltd., The Deputy Commissioner of Megh Towers, 1-3rd Floor, Old No. 307, Vs. Income Tax, New No. 165, Poonamallee High Road, Corporate Circle 2(1), Maduravoyal, Chennai 600 095. Chennai. [PAN:AAACD1707C] (अपीलाथ" /Appellant) (""थ"/Respondent) I.T.A. Nos…

DCIT CORPORATE CIRCLE 2(1), CHENNAI vs. FULLERTON INDIA CREDIT COMPANY LTD., CHENNAI

In the result, the appeals filed by the assessee are allowed and the appeals filed by the Revenue are dismissed

ITA 1472/CHNY/2018[2011-12]Status: DisposedITAT Chennai05 Dec 2018AY 2011-12

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy

For Appellant: Shri G.S.P. Babu, AdvocateFor Respondent: Mrs. Ruby George, CIT
Section 145

…आयकर अपीलीय अिधकरण, ‘बी’ "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी अ"ाहम पी. जॉज", लेखा सद" एवं "ी धु"ु" आर.एल रे"ी, "ाियक सद" के सम" Before Shri Abraham P. George, Accountant Member & Shri Duvvuru RL Reddy, Judicial Member I.T.A. Nos. 1083, 1084 & 1085/Chny/2018 Assessment Years: 2010-11, 11-12 & 12-13 M/s. Fullerton India Credit Co. Ltd., The Deputy Commissioner of Megh Towers, 1-3rd Floor, Old No. 307, Vs. Income Tax, New No. 165, Poonamallee High Road, Corporate Circle 2(1), Maduravoyal, Chennai 600 095. Chennai. [PAN:AAACD1707C] (अपीलाथ" /Appellant) (""थ"/Respondent) I.T.A. Nos…

M/S FULLERTON INDIA CREDIT COMPANY LIMITED,CHENNAI vs. DCIT CORPORATE CIRCLE 2 (1), CHENNAI

In the result, the appeals filed by the assessee are allowed and the appeals filed by the Revenue are dismissed

ITA 1085/CHNY/2018[2012-13]Status: DisposedITAT Chennai05 Dec 2018AY 2012-13

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy

For Appellant: Shri G.S.P. Babu, AdvocateFor Respondent: Mrs. Ruby George, CIT
Section 145

…आयकर अपीलीय अिधकरण, ‘बी’ "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी अ"ाहम पी. जॉज", लेखा सद" एवं "ी धु"ु" आर.एल रे"ी, "ाियक सद" के सम" Before Shri Abraham P. George, Accountant Member & Shri Duvvuru RL Reddy, Judicial Member I.T.A. Nos. 1083, 1084 & 1085/Chny/2018 Assessment Years: 2010-11, 11-12 & 12-13 M/s. Fullerton India Credit Co. Ltd., The Deputy Commissioner of Megh Towers, 1-3rd Floor, Old No. 307, Vs. Income Tax, New No. 165, Poonamallee High Road, Corporate Circle 2(1), Maduravoyal, Chennai 600 095. Chennai. [PAN:AAACD1707C] (अपीलाथ" /Appellant) (""थ"/Respondent) I.T.A. Nos…

M/S FULLERTON INDIA CREDIT COMPANY LIMITED,CHENNAI vs. DCIT CORPORATE CIRCLE 2 (1), CHENNAI

In the result, the appeals filed by the assessee are allowed and the appeals filed by the Revenue are dismissed

ITA 1084/CHNY/2018[2011-12]Status: DisposedITAT Chennai05 Dec 2018AY 2011-12

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy

For Appellant: Shri G.S.P. Babu, AdvocateFor Respondent: Mrs. Ruby George, CIT
Section 145

…आयकर अपीलीय अिधकरण, ‘बी’ "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी अ"ाहम पी. जॉज", लेखा सद" एवं "ी धु"ु" आर.एल रे"ी, "ाियक सद" के सम" Before Shri Abraham P. George, Accountant Member & Shri Duvvuru RL Reddy, Judicial Member I.T.A. Nos. 1083, 1084 & 1085/Chny/2018 Assessment Years: 2010-11, 11-12 & 12-13 M/s. Fullerton India Credit Co. Ltd., The Deputy Commissioner of Megh Towers, 1-3rd Floor, Old No. 307, Vs. Income Tax, New No. 165, Poonamallee High Road, Corporate Circle 2(1), Maduravoyal, Chennai 600 095. Chennai. [PAN:AAACD1707C] (अपीलाथ" /Appellant) (""थ"/Respondent) I.T.A. Nos…

M/S FULLERTON INDIA CREDIT COMPANY LIMITED,CHENNAI vs. DCIT CORPORATE CIRCLE 2 (1), CHENNAI

In the result, the appeals filed by the assessee are allowed and the appeals filed by the Revenue are dismissed

ITA 1083/CHNY/2018[2010-11]Status: DisposedITAT Chennai05 Dec 2018AY 2010-11

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy

For Appellant: Shri G.S.P. Babu, AdvocateFor Respondent: Mrs. Ruby George, CIT
Section 145

…आयकर अपीलीय अिधकरण, ‘बी’ "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI "ी अ"ाहम पी. जॉज", लेखा सद" एवं "ी धु"ु" आर.एल रे"ी, "ाियक सद" के सम" Before Shri Abraham P. George, Accountant Member & Shri Duvvuru RL Reddy, Judicial Member I.T.A. Nos. 1083, 1084 & 1085/Chny/2018 Assessment Years: 2010-11, 11-12 & 12-13 M/s. Fullerton India Credit Co. Ltd., The Deputy Commissioner of Megh Towers, 1-3rd Floor, Old No. 307, Vs. Income Tax, New No. 165, Poonamallee High Road, Corporate Circle 2(1), Maduravoyal, Chennai 600 095. Chennai. [PAN:AAACD1707C] (अपीलाथ" /Appellant) (""थ"/Respondent) I.T.A. Nos…

JCIT v. India Equipment Leasing Ltd. (111 ITD 37) — Cited in 9 Judgments | BharatTax