Kamla Cotton Company v. CIT

226 ITR 605High Court#11310 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2017.

Judgments citing Kamla Cotton Company v. CIT

ACIT, New Delhi vs. Sh. Ashok Mittal, New Delhi

In the result, the appeals filed by the assessee are partly allowed, the

ITA 3743/DEL/2013[2001-02]Status: DisposedITAT Delhi30 Oct 2017AY 2001-02

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri R. C. Dande, Sr.DR
Section 143(3)

…s been upheld by the ld. CIT(A) should be deleted. He also relied on the decisions of the Hon’ble Allahabad High Court in the case of Shitla Prasad Shyam Lal vs. CIT reported in 96 CTR 150 and decision in the case of Kamla Cotton Company vs. CIT reported in 226 ITR 605. 18. Ld. DR on the other hand heavily relied on the order of the CIT(A). He submitted that despite opportunities granted by the Assessing Officer as well as the CIT(A) the assessee has not given the requisite details to substantiate that the amount written off become irrecoverable bad debt. Therefore, the ld. CIT(A) was fully justified in sustain…

Sh. Ashok Mittal, New Delhi vs. Addl. CIT, New Delhi

In the result, the appeals filed by the assessee are partly allowed, the

ITA 3307/DEL/2013[2001-02]Status: DisposedITAT Delhi30 Oct 2017AY 2001-02

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri R. C. Dande, Sr.DR
Section 143(3)

…s been upheld by the ld. CIT(A) should be deleted. He also relied on the decisions of the Hon’ble Allahabad High Court in the case of Shitla Prasad Shyam Lal vs. CIT reported in 96 CTR 150 and decision in the case of Kamla Cotton Company vs. CIT reported in 226 ITR 605. 18. Ld. DR on the other hand heavily relied on the order of the CIT(A). He submitted that despite opportunities granted by the Assessing Officer as well as the CIT(A) the assessee has not given the requisite details to substantiate that the amount written off become irrecoverable bad debt. Therefore, the ld. CIT(A) was fully justified in sustain…

ACIT, New Delhi vs. M/S. Ashok Mittal, New Delhi

In the result, the appeals filed by the assessee are partly allowed, the

ITA 2997/DEL/2009[2001-02]Status: DisposedITAT Delhi30 Oct 2017AY 2001-02

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri R. C. Dande, Sr.DR
Section 143(3)

…s been upheld by the ld. CIT(A) should be deleted. He also relied on the decisions of the Hon’ble Allahabad High Court in the case of Shitla Prasad Shyam Lal vs. CIT reported in 96 CTR 150 and decision in the case of Kamla Cotton Company vs. CIT reported in 226 ITR 605. 18. Ld. DR on the other hand heavily relied on the order of the CIT(A). He submitted that despite opportunities granted by the Assessing Officer as well as the CIT(A) the assessee has not given the requisite details to substantiate that the amount written off become irrecoverable bad debt. Therefore, the ld. CIT(A) was fully justified in sustain…

Ashok Mittal vs. ITO, Ward-24(3)

In the result, the appeals filed by the assessee are partly allowed, the

ITA 3764/DEL/2004[2001-2002]Status: DisposedITAT Delhi30 Oct 2017AY 2001-2002

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2001-02 Shri Ashok Mittal, Ito, Ward- 24(3), 42, Sainik Farms, Vs. New Delhi. New Delhi. Pan : Aaspm6882C (Appellant) (Respondent) Assessment Year : 2001-02 Acit, Circle- 24(1), Shri Ashok Mittal, New Delhi. Vs. 42, Sainik Farms, New Delhi. Pan : Aaspm6882C (Appellant) (Respondent)

For Appellant: Shri Gautam Jain, AdvFor Respondent: Shri R. C. Dande, Sr.DR
Section 143(3)

…s been upheld by the ld. CIT(A) should be deleted. He also relied on the decisions of the Hon’ble Allahabad High Court in the case of Shitla Prasad Shyam Lal vs. CIT reported in 96 CTR 150 and decision in the case of Kamla Cotton Company vs. CIT reported in 226 ITR 605. 18. Ld. DR on the other hand heavily relied on the order of the CIT(A). He submitted that despite opportunities granted by the Assessing Officer as well as the CIT(A) the assessee has not given the requisite details to substantiate that the amount written off become irrecoverable bad debt. Therefore, the ld. CIT(A) was fully justified in sustain…

ACIT, New Delhi vs. M/S. Timex Group India Ltd., New Delhi

ITA 259/DEL/2013[2006-07]Status: DisposedITAT Delhi21 Jun 2016AY 2006-07

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm Ita No. 2769/Del/2012 : Asstt. Year : 2004-05 Asstt. Commissioner Of Income Tax Vs M/S Timex Watches Ltd., Circle-16(1), 117, Ground Floor, World Trade New Delhi Centre, Babar Road, New Delhi-110001 (Appellant) (Respondent) Co No. 323/Del/2012 : Asstt. Year : 2004-05 M/S Timex Watches Ltd., Vs Asstt. Commissioner Of Income 117, Ground Floor, World Trade Tax, Circle-16(1), Centre, Babar Road, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaact0773C

For Appellant: Sh. K.M. Gupta, Adv. & Sh. Gautam Jain, CAFor Respondent: Sh. Hemant Gupta, Sr. DR

…aced on the following case laws: " Ramachandar Shivnarayan Vs CIT 111 ITR 268 (SC) " Badridas Daga Vs CIT 34 ITR 10 (SC) " Commonwealth Trust (India) Ltd. Vs CIT 242 ITR 593 (Ker) " Shitla Prasad Shyam Lal Vs CIT 96 CTR 150 (All) " Kamla Cotton Company Vs CIT 226 ITR 605 (All) " A. W. Figgis and Co. Pvt. Ltd. Vs CIT 254 ITR 63 (Cal) ITA Nos. 258 & 259/Del/2013 Timex Watches Ltd. 18. The ld. CIT(A) after considering the submissions of the assessee observed that the amount was fraudulently withdrawn from the accounts of the assessee who made out efforts to money back by filing the suit against the bank and that th…

ACIT, New Delhi vs. M/S. Timex Group India Ltd., New Delhi

ITA 258/DEL/2013[2005-06]Status: DisposedITAT Delhi21 Jun 2016AY 2005-06

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm Ita No. 2769/Del/2012 : Asstt. Year : 2004-05 Asstt. Commissioner Of Income Tax Vs M/S Timex Watches Ltd., Circle-16(1), 117, Ground Floor, World Trade New Delhi Centre, Babar Road, New Delhi-110001 (Appellant) (Respondent) Co No. 323/Del/2012 : Asstt. Year : 2004-05 M/S Timex Watches Ltd., Vs Asstt. Commissioner Of Income 117, Ground Floor, World Trade Tax, Circle-16(1), Centre, Babar Road, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaact0773C

For Appellant: Sh. K.M. Gupta, Adv. & Sh. Gautam Jain, CAFor Respondent: Sh. Hemant Gupta, Sr. DR

…aced on the following case laws: " Ramachandar Shivnarayan Vs CIT 111 ITR 268 (SC) " Badridas Daga Vs CIT 34 ITR 10 (SC) " Commonwealth Trust (India) Ltd. Vs CIT 242 ITR 593 (Ker) " Shitla Prasad Shyam Lal Vs CIT 96 CTR 150 (All) " Kamla Cotton Company Vs CIT 226 ITR 605 (All) " A. W. Figgis and Co. Pvt. Ltd. Vs CIT 254 ITR 63 (Cal) ITA Nos. 258 & 259/Del/2013 Timex Watches Ltd. 18. The ld. CIT(A) after considering the submissions of the assessee observed that the amount was fraudulently withdrawn from the accounts of the assessee who made out efforts to money back by filing the suit against the bank and that th…

ACIT, New Delhi vs. M/S. Timex Watches Ltd., New Delhi

ITA 2769/DEL/2012[2004-05]Status: DisposedITAT Delhi21 Jun 2016AY 2004-05

Bench: Sh. N. K. Saini, Am & Ms. Suchitra Kamble, Jm Ita No. 2769/Del/2012 : Asstt. Year : 2004-05 Asstt. Commissioner Of Income Tax Vs M/S Timex Watches Ltd., Circle-16(1), 117, Ground Floor, World Trade New Delhi Centre, Babar Road, New Delhi-110001 (Appellant) (Respondent) Co No. 323/Del/2012 : Asstt. Year : 2004-05 M/S Timex Watches Ltd., Vs Asstt. Commissioner Of Income 117, Ground Floor, World Trade Tax, Circle-16(1), Centre, Babar Road, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaact0773C

For Appellant: Sh. K.M. Gupta, Adv. & Sh. Gautam Jain, CAFor Respondent: Sh. Hemant Gupta, Sr. DR

…aced on the following case laws: " Ramachandar Shivnarayan Vs CIT 111 ITR 268 (SC) " Badridas Daga Vs CIT 34 ITR 10 (SC) " Commonwealth Trust (India) Ltd. Vs CIT 242 ITR 593 (Ker) " Shitla Prasad Shyam Lal Vs CIT 96 CTR 150 (All) " Kamla Cotton Company Vs CIT 226 ITR 605 (All) " A. W. Figgis and Co. Pvt. Ltd. Vs CIT 254 ITR 63 (Cal) ITA Nos. 258 & 259/Del/2013 Timex Watches Ltd. 18. The ld. CIT(A) after considering the submissions of the assessee observed that the amount was fraudulently withdrawn from the accounts of the assessee who made out efforts to money back by filing the suit against the bank and that th…

M/S. Sivanandha Mills Ltd., Coimbatore vs. DCIT, Coimbatore

In the result, ITA No.2106/Mds/13 is partly allowed for statistical purposes

ITA 2106/CHNY/2013[2010-11]Status: DisposedITAT Chennai17 Jun 2016AY 2010-11

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri R. Vijayaraghavan, AdvocateFor Respondent: Dr. Milind Madhukar Bhusari, CIT
Section 143Section 143(1)

…submitted that the claim of bad debts needs to be allowed in view of the following judgments: (i) CIT vs. Ahmedabad Electricity Company Limited (262 ITR 97(Guj.) (ii) Jethahirji and Jethabhaj Ramdas vs. CIT (120 ITR 792)(Bom). (iii) Kamala Cotton vs. CIT (226 ITR 605)(Guj.) (iv) TRF Limited vs. CIT (2010) 323 ITR 397(SC) & (2010) 190 Taxman 321(SC). (v) Southern Technologies Limited vs. Joint CIT (20120) 320 ITR 577 (SC). 10. Regarding disallowance of claim of set off business expenditure/loss against long term capital gain, it is submitted that this claim was disallowed on the ground that there was no…

Sivanandha Mills Limited, Coimbatore vs. ACIT, Coimbatore

In the result, ITA No.2106/Mds/13 is partly allowed for statistical purposes

ITA 1216/CHNY/2013[2009-10]Status: DisposedITAT Chennai17 Jun 2016AY 2009-10

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri R. Vijayaraghavan, AdvocateFor Respondent: Dr. Milind Madhukar Bhusari, CIT
Section 143Section 143(1)

…submitted that the claim of bad debts needs to be allowed in view of the following judgments: (i) CIT vs. Ahmedabad Electricity Company Limited (262 ITR 97(Guj.) (ii) Jethahirji and Jethabhaj Ramdas vs. CIT (120 ITR 792)(Bom). (iii) Kamala Cotton vs. CIT (226 ITR 605)(Guj.) (iv) TRF Limited vs. CIT (2010) 323 ITR 397(SC) & (2010) 190 Taxman 321(SC). (v) Southern Technologies Limited vs. Joint CIT (20120) 320 ITR 577 (SC). 10. Regarding disallowance of claim of set off business expenditure/loss against long term capital gain, it is submitted that this claim was disallowed on the ground that there was no…

Kamla Cotton Company v. CIT (226 ITR 605) — Cited in 9 Judgments | BharatTax