JCIT Vs Mahindra Sona Lod. (ITA T, Mum) 96 ITD 303, Giizdar Kajora Coal Mines Ltd. v. CIT (Supreme Court)

85 ITR 599Supreme Court of India1972#12985 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2015 to 2023.

Judgments citing JCIT Vs Mahindra Sona Lod. (ITA T, Mum) 96 ITD 303, Giizdar Kajora Coal Mines Ltd. v. CIT (Supreme Court)

Dy. Commissioner of Income Tax, Circle-1(1), Hyderabad vs. Alpha Avenues Private Limited, Hyderabad

In the result, both the appeals filed by the Revenue are allowed for statistical purposes

ITA 1107/HYD/2017[2011-12]Status: DisposedITAT Hyderabad12 Jun 2023AY 2011-12

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

For Appellant: Shri K.A. Sai Prasad, CAFor Respondent: Shri Jeevan Lal Lavidiya, CIT(DR)
Section 143(2)Section 56

…n artificials price is fixed for assets in a transaction with ulterior motive, the apparent has to be rejected in favour of the real. Reliance in this regard is placed on the decision of Hon'ble Supreme Court in the case of Guzdar Kajora Coal Mines Ltd [1972] 85 ITR 599 (SC). In the said decision, the Hon'ble Supreme Court held that "if circumstances exist showing that a fictious price has been put on the asset or there is fraud or collusion between the vendor and the vendee and there has been Page 10 of 22 ITA Nos 1106 and 1107 of 2017 Alpha Villas Pvt Ltd inflation or deflation of value for ulterior purposes…

Dy. Commissioner of Income Tax, Circle-1(1), Hyderabad vs. Alpha Villas Private Limited, Hyderabad

In the result, both the appeals filed by the Revenue are allowed for statistical purposes

ITA 1106/HYD/2017[2011-12]Status: DisposedITAT Hyderabad12 Jun 2023AY 2011-12

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

For Appellant: Shri K.A. Sai Prasad, CAFor Respondent: Shri Jeevan Lal Lavidiya, CIT(DR)
Section 143(2)Section 56

…n artificials price is fixed for assets in a transaction with ulterior motive, the apparent has to be rejected in favour of the real. Reliance in this regard is placed on the decision of Hon'ble Supreme Court in the case of Guzdar Kajora Coal Mines Ltd [1972] 85 ITR 599 (SC). In the said decision, the Hon'ble Supreme Court held that "if circumstances exist showing that a fictious price has been put on the asset or there is fraud or collusion between the vendor and the vendee and there has been Page 10 of 22 ITA Nos 1106 and 1107 of 2017 Alpha Villas Pvt Ltd inflation or deflation of value for ulterior purposes…

Letiwind Shriram Manufacturing Limited, Chennai vs. DCIT, Chennai

In the result, appeal filed by the assessee for assessment

ITA 110/CHNY/2018[2014-15]Status: DisposedITAT Chennai09 Feb 2022AY 2014-15

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकरअपीलसं./I.T.A.Nos.109 & 110/Chny/2018 ("नधा"रणवष" / Assessment Years: 2013-14 & 2014-15) M/S. Leitwind Shriram Manufacturing Ltd. V Deputy Commissioner Of Income Sreedhar, Suresh & Rajagopalan, C.As., S Tax, 3-B, Green Heaven, New No.26 Corporate Circle-4(1) Third Main Road, Gandhi Nagar, Chennai-34. Adyar,Chennai-600 020. Pan: Aabcl 2825N (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. Muralikumar, CITFor Respondent: 13.12.2021
Section 36(1)(iii)

…s have held that all expenditure directly and indirectly related to acquisition of any assets shall he capitalised along with the cost of the said assets. In this regard, some of the decisions are brought to focus as under:- 1.Guzdar Kajoria Coal Mines Ltd. (85 ITR 599) (1972 SC) Original cost of the asset to the assessee is a question of fact which has to be determined on the basis of evidence or material placed before or available with Assessing Officer. If circumstances exist showing that fictitious price has been put on the asset or there is a fraud or collusion between the vendor and the assessee and there…

Letiwind Shriram Manufacturing Limited, Chennai vs. DCIT, Chennai

In the result, appeal filed by the assessee for assessment

ITA 109/CHNY/2018[2013-14]Status: DisposedITAT Chennai09 Feb 2022AY 2013-14

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकरअपीलसं./I.T.A.Nos.109 & 110/Chny/2018 ("नधा"रणवष" / Assessment Years: 2013-14 & 2014-15) M/S. Leitwind Shriram Manufacturing Ltd. V Deputy Commissioner Of Income Sreedhar, Suresh & Rajagopalan, C.As., S Tax, 3-B, Green Heaven, New No.26 Corporate Circle-4(1) Third Main Road, Gandhi Nagar, Chennai-34. Adyar,Chennai-600 020. Pan: Aabcl 2825N (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. Muralikumar, CITFor Respondent: 13.12.2021
Section 36(1)(iii)

…s have held that all expenditure directly and indirectly related to acquisition of any assets shall he capitalised along with the cost of the said assets. In this regard, some of the decisions are brought to focus as under:- 1.Guzdar Kajoria Coal Mines Ltd. (85 ITR 599) (1972 SC) Original cost of the asset to the assessee is a question of fact which has to be determined on the basis of evidence or material placed before or available with Assessing Officer. If circumstances exist showing that fictitious price has been put on the asset or there is a fraud or collusion between the vendor and the assessee and there…

DCIT10(3)(2), Mumbai vs. Parle Products Ltd, Mumbai

In the result, assessee’s appeal is partly allowed for statistical purposes

ITA 1699/MUM/2018[1997-98]Status: DisposedITAT Mumbai09 Aug 2019AY 1997-98

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwal

For Appellant: Shri Nitesh JoshiFor Respondent: ShriAwungeshi Gimson a/w

…refore, the decision of the Hon'ble Supreme Court in B.C. Shrinivasa Setty (128 ITR 294), would not apply. In support of his contention, learned Departmental Representative relied upon the following decisions:– i) GuzdarKajora Coal Mines Ltd. v/s cit, [2972] 85 ITR 599 (SC); ii) S.C. Cambatta& Co. Pvt. Ltd. v/s Commissioner of Excess Profits Tax, [1961] 41 ITR 500 (SC); and iii) Desu Venkata Subba Rao v/s WTO, [1983] 6 ITD 341 (Hyd.). 27. The learned Authorised Representative strongly relying upon the observations of learned Commissioner (Appeals) submitted, under identical agreements the assessee company along…

The ACIT, Mehsana Circle, Mehsana vs. M/S. Neptune Industries Ltd., Mehsana

In the result, the appeal filed by the Revenue is dismissed

ITA 2701/AHD/2011[2008-09]Status: DisposedITAT Ahmedabad30 Jul 2019AY 2008-09

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No.2701/Ahd/2011 "नधा"रण वष"/Asstt. Year: 2008-2009 A.C.I.T., M/S.Neptune Industries Ltd. Mehsana Circle, Vs. Gidc Estate, Phase-Ii, Mehsana. Dediyasan, Mehsana. Pan : Aabcn4995M

For Appellant: Shri S.N. Divatia, A.R
Section 47Section 49A(2)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ A’’ BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And Ms. MADHUMITA ROY, JUDICIAL MEMBER आयकर अपील सं./ITA No.2701/AHD/2011 "नधा"रण वष"/Asstt. Year: 2008-2009 A.C.I.T., M/s.Neptune Industries Ltd. Mehsana Circle, Vs. GIDC Estate, Phase-II, Mehsana. Dediyasan, Mehsana. PAN : AABCN4995M (Applicant) (Respondent) : Revenue by Shri S.K. Dev, Sr.D.R Assessee by : Shri S.N. Divatia, A.R सुनवाई क" तार"ख/Date of Hearing : 17/07/2019 घोषणा क" तार"ख /Date of Pronouncement: 30/07/2019 आदेश/O R D E R PER WASEEM AHMED, ACCOUNTANT MEM…

Mtandt Rentals Limited, Thiruvallur vs. ITO Corporate Ward 4(3), Chennai

In the result, the appeal of the assessee is allowed

ITA 2410/CHNY/2017[2014-15]Status: DisposedITAT Chennai30 May 2018AY 2014-15

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George] आयकर अपील सं./I.T.A. No.2410/Chny/2017 "नधा"रण वष" /Assessment Year : 2014-2015. M/S. Mtandt Rentals Ltd, Vs. The Income Tax Officer, No.62/2B, New No.99, Old No.144, Corporate Ward 4(3) Padur Village, Chennai. Poonamallee Taluk. Tiruvallur - 602 105. [Pan Aagcm 2269J (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. M. Karunakaran, AdvocateFor Respondent: Dr. S. Pandiyan, Addl. CIT
Section 143(1)

…he vendor and assessee and there has been inflation/ deflation of value for ulterior purposes, it is open to ITO to reject and ascertain the actual cost. JCIT Vs Mahindra Sona Lod. (ITA T, Mum) 96 ITD 303, Giizdar Kajora Coal Mines Ltd. Vs CIT (Supreme Court) 85 ITR 599 Depreciation - Actual cost - Conditional subsidy received from Rajasthari Government under the subsidized Housing Scheme for Industrial Workers shall be reduced from the cost u/s 4391) and depreciation to be worked out on the reduced amount Associated Stone Industries Kota Ltd. Vs CIT (Raj) 215 ITR 226 Dissolution of firm- Amount paid by continui…

The Commissioner of Income Tax vs. M/S Associated Electronic and Elctrical

The appeal stands dismissed

ITA/358/2009HC Karnataka18 Dec 2015

Bench: S.SUJATHA,VINEET SARAN

Section 260Section 48Section 55Section 55(2)(a)

…® IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 18TH DAY OF DECEMBER, 2015 PRESENT THE HON’BLE MR JUSTICE VINEET SARAN AND THE HON’BLE MRS JUSTICE S SUJATHA Income tax Appeal No.358/2009 BETWEEN: 1. THE COMMISSIONER OF INCOME-TAX C R BUILDING,QUEENS ROAD BANGALORE. 2. THE DEPUTY COMMISSIONER OF INCOME-TAX COMPANY CIRCLE-4(1) (INV) C R BUILDING, QUEENS ROAD BANGALORE ...APPELLANTS ( BY SRI K V ARAVIND, ADV.) AND M/S ASSOCIATED ELECTRONICS & ELECTRICAL INDUSTRIES (BANGALORE) PVT.LTD BRIGADE ROAD BANGALORE-560 001. …RESPONDENT ( B…

JCIT Vs Mahindra Sona Lod. (ITA T, Mum) 96 ITD 303, Giizdar Kajora Coal Mines Ltd. v. CIT (Supreme Court) (85 ITR 599) — Cited in 8 Judgments | BharatTax