Kotak Securities Ltd. v. Addl. CIT 318 ITR (AT) 268, CIT v D B (India) Securities

318 ITR 26High Court#24444 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2017 to 2024.

Judgments citing Kotak Securities Ltd. v. Addl. CIT 318 ITR (AT) 268, CIT v D B (India) Securities

ACIT, Circle 1(1), Chandigarh vs. M/S Sml Isuzu Ltd., Chandigarh

ITA 644/CHANDI/2022[2015-16]Status: DisposedITAT Chandigarh18 Sept 2024AY 2015-16

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

For Appellant: Shri Rohit Jain, Advocate and Ms. Somya Jain, C.AFor Respondent: Shri Vivek Vardhan, JCIT, Sr. DR
Section 143(2)Section 143(3)Section 147Section 148Section 250Section 253Section 3

…debt (interest) is offered to tax in earlier years, deduction of bad debt is available to the assessee qua the total amount (i.e; interest and principal ) of debt written off- - CIT v. T. Veerabhadra Rao: 155 ITR 152 (SC) - CIT v. D B (India) Securities Ltd: 318 ITR 26 (Del) - CIT v. Bonanza Portfolio Ltd: 320 ITR 178 (Del) - CIT v. Shreyas S. Morakhia: 342 ITR 285 (Bom.) - CIT v. Pudumjee Pulp & Paper Mills Ltd.: 235 Taxman 451 (Bom.) - Angel Capital and Debt Market Ltd. v. ACIT: 118 TTJ 351 (Mum ITAT) - Angel Commodities Broking (P.) Ltd. v. DCIT: 164 TTJ 275 (Mum ITAT) - FedEx Express Transportation & Supply…

Rel Utility Engimeers Ltd, Mumbai vs. DCIT 10(1), Mumbai

In the result, the appeal of the assessee is allowed and the appeal of the Revenue is dismissed

ITA 7177/MUM/2013[2009-10]Status: DisposedITAT Mumbai14 Jul 2017AY 2009-10

Bench: Shri Sanjay Garg & Shri Rajesh Kumarassessment Year: 2009-10 M/S. Crest Logistics & Addl. Cit-10(1), Engineers Private Limited, [New Jurisdiction Addl. Cit (Erstwhile Rel Utility 14(3)(1)] Engineers Ltd. Formerly Known Aayakar Bhavan, As Rel Utility Engineers Ltd. M.K. Road, Vs. Formerly Known As Mumbai - 400020 Sonata Investments Ltd.), Devidas Lane, Near Mtnl, Off Svp Road, Borivali (W) – 400 103 Pan: Aaccr 7266A (Appellant) (Respondent) Assessment Year: 2009-10 Dy. Commissioner Of Income M/S. Crest Logistic & Tax-14(1)(2), Engineering Ltd., Room No.470, 4Th Floor, (Formerly Known As Sonata Aayakar Bhavan, Investments Ltd.) Maharshi Karve Road, Vs. 307, Charted House, Mumbai - 400020 297/299, Dr. Cawasji Hormosji Street, New Marine Lines, Mumbai – 400 002 Pan: Aaccr 7266A (Appellant) (Respondent)

For Appellant: Shri Jitendra Sanghvi, A.RFor Respondent: Shri B. Pruseth, D.R

…ant is capital loss. Hence, A.Os treating this loan as capital in nature is correct and disallowance of Rs.69,53,99,282/- is upheld. The appellant had relied on the case laws of Kotak Securities Ltd. v Addl. CIT 318 ITR (AT) 268, CIT v D B (India) Securities 318 ITR 26 (Delhi), Madhur 4 ITA No.7177/M/2013 & ITA No.6931/M/2013 M/s. Crest Logistic & Engineering Pvt. Ltd., (Formerly known as REL Utility Engineers Pvt. Ltd. Formerly known as Sonata Investments Ltd.) Shares & Stock (P.) Ltd. v ACIT 41 SOT 373 (Ahd). On examination of the facts of the above case laws, they are all in the case of only first assignment…

DCIT 10(1), Mumbai vs. Sonata Investments Ltd, Mumbai

In the result, the appeal of the assessee is allowed and the appeal of the Revenue is dismissed

ITA 6931/MUM/2013[2009-10]Status: DisposedITAT Mumbai14 Jul 2017AY 2009-10

Bench: Shri Sanjay Garg & Shri Rajesh Kumarassessment Year: 2009-10 M/S. Crest Logistics & Addl. Cit-10(1), Engineers Private Limited, [New Jurisdiction Addl. Cit (Erstwhile Rel Utility 14(3)(1)] Engineers Ltd. Formerly Known Aayakar Bhavan, As Rel Utility Engineers Ltd. M.K. Road, Vs. Formerly Known As Mumbai - 400020 Sonata Investments Ltd.), Devidas Lane, Near Mtnl, Off Svp Road, Borivali (W) – 400 103 Pan: Aaccr 7266A (Appellant) (Respondent) Assessment Year: 2009-10 Dy. Commissioner Of Income M/S. Crest Logistic & Tax-14(1)(2), Engineering Ltd., Room No.470, 4Th Floor, (Formerly Known As Sonata Aayakar Bhavan, Investments Ltd.) Maharshi Karve Road, Vs. 307, Charted House, Mumbai - 400020 297/299, Dr. Cawasji Hormosji Street, New Marine Lines, Mumbai – 400 002 Pan: Aaccr 7266A (Appellant) (Respondent)

For Appellant: Shri Jitendra Sanghvi, A.RFor Respondent: Shri B. Pruseth, D.R

…ant is capital loss. Hence, A.Os treating this loan as capital in nature is correct and disallowance of Rs.69,53,99,282/- is upheld. The appellant had relied on the case laws of Kotak Securities Ltd. v Addl. CIT 318 ITR (AT) 268, CIT v D B (India) Securities 318 ITR 26 (Delhi), Madhur 4 ITA No.7177/M/2013 & ITA No.6931/M/2013 M/s. Crest Logistic & Engineering Pvt. Ltd., (Formerly known as REL Utility Engineers Pvt. Ltd. Formerly known as Sonata Investments Ltd.) Shares & Stock (P.) Ltd. v ACIT 41 SOT 373 (Ahd). On examination of the facts of the above case laws, they are all in the case of only first assignment…

Kotak Securities Ltd. v. Addl. CIT 318 ITR (AT) 268, CIT v D B (India) Securities (318 ITR 26) — Cited in 3 Judgments | BharatTax