Kotek Forex Brokerage Ltd. v. ACIT

33 SOT 237Income Tax Appellate Tribunal2009#15635 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2018 to 2025.

Judgments citing Kotek Forex Brokerage Ltd. v. ACIT

Viacom 18, Media Pvt Ltd, Mumbai vs. PCIT-8, Mumbai

ITA 2591/MUM/2025[2019-20]Status: DisposedITAT Mumbai27 Nov 2025AY 2019-20

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

For Appellant: Mr. Madhur Agarwal/Ms. MokshaFor Respondent: Mr. Vivek Perampurna, CIT-DR

Section 143(3)Section 144BSection 263Section 32

…Coca Cola Beverages Pvt. Ltd [(2009) 34 SOT 171 (Delhi Tribunal)) • Skyline Caterers (P.) Ltd. vs. ITO ((2008) 20 SOT 266 (Mumbai Tribunal)] • Bosch Ltd. vs. CIT (2009-TIOL-736-ITAT-Bang (Bangalore Tribunal)) • Kotak Forex Brokerage Ltd. vs. ACIT ((2009) (33 SOT 237) (Mumbai Tribunal)] • A.P. Paper Mills Ltd. vs. ACIT ((2010) 128 TTJ 596 (Hyderabad Tribunal)]2 • Mylan Laboratories Limited vs. Dy. CIT 16(2) [ITA No. 2335/Hyd./2018] (Hyderabad Tribunal) 5.4 Thereafter, again the Assessing Officer issued further query on the issue of depreciation of the goodwill in his show cause notice dated 17/09/2022 (PB-3…

Dy. Commissioner of Income Tax, Circle-16(2), Hyderabad vs. Eenadu Television Private Limited, Hyderabad

In the result, the appeal of Revenue is partly allowed for statistical purposes

ITA 2244/HYD/2018[2015-16]Status: DisposedITAT Hyderabad22 Jul 2022AY 2015-16

Bench: Shri Rama Kanta Panda & Shri Laliet Kumar

For Appellant: Shri V. Siva KumarFor Respondent: Shri Rajendra Kumar, CIT

Section 115JSection 143(3)Section 251(1)

…her business of commercial rights of similar nature", In this regard, reliance is placed on following decisions for the proposition that non-compete fee is eligible for depreciation. Kotak Forex Brokerage Ltd. vs. Assistant Commissioner of Income Tax • [2009] 33 SOT 237 (Mum - ITAT) • Hindustan Coca Cola Beverages (P) Ltd. vs. DCIT [2009] 34 SOT 171 (Del - ITAT) • Skyline Caterers (P) Ltd. vs. ITO [2008] 116 ITD 348 (Mum - ITAT) • The A.P Paper Mills Ltd. vs. ACIT [2010] 33 DTR 148 (Hyd - ITAT) • CLC Global Limited [ITA No. 2288/De1/08](Del). • Hindustan Coca Cola Beverages Pvt. Ltd [ITA No. 1391/2010, 1394/2010…

Vodafone Idea Ltd., Mumbai vs. Pr CIT -5, Mumbai

ITA 780/MUM/2021[2015-16]Status: DisposedITAT Mumbai28 Jan 2022AY 2015-16

Bench: Shri Kuldip Singh & Shri Amarjit Singhassessment Year: 2015-16

For Appellant: Shri J.D. Mistry, A.RFor Respondent: Shri Dharamveer Singh, D.R

Section 143(3)Section 263Section 32Section 32(1)Section 35A

…a “business or commercial right” with which the Assessee carries on its business of providing telecom services. The Assessee’s stand is based on the following decisions: > Skyline Caterers (P.) Lid. (2008) (118 TTJ 344); > Kotak Forex Brokerage Lid. (2009) (33 SOT 237); etc. During the F.Y. 2014-15, the Assessee has capitalized Rs.52,059.69 million under the block of “Intangible Assets”, towards the Spectrum Cost in respect of 2G and 3G Spectrum, based on “put to use” test. Interest on Deferred payment liability taken to acquire this spectrum has been capitalised as actual cost till the date on which the spect…

The ACIT, Circle-2(1)(2), Ahmedabad vs. Mundra International Container Terminal Pvt. Ltd., Kutch

In the result, the appeal of the revenue is dismissed

ITA 2171/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2013-14

For Appellant: Shri S.N. Soparkar, A.RFor Respondent: Shri Alok Singh, CIT-D.R

Section 143(2)Section 14ASection 32

…ssets. This view is supported with the various judgements relied upon by the appellant including the followings:- - Reliance Ports and Terminal Ltd. in IT Appeal No.1743, 1744 and 1745 (Mum) of 2007 dtd. 26.11.2007 - Kotek Forex Brokerage Ltd. Vs. ACIT (2009) 33 SOT 237 (Mum) - DCIT 11 (OSD) Mumbai Vs. Weizmann Forex Ltd. (2012) 21 taxmann.com 99 (Mum) - Birla Global Assets Finance Co. Ltd. in ITA No.6835 of 2010 (Hon'ble Bombay High Court) - ONGC Videsh Business Ltd. Vs. DCIT 127 TTJ 497 (Delhi) - S. Amika Vs. DCIT 15 Taxmann.com 28 (Kerala) - Piem Hotels Ltd. Vs. DCIT 128 ITD 272 (Mum) 2.5. Further submitted th…

The ACIT, Circle-2(1)(2), Ahmedabad vs. M/S. Mundra International Container Terminal Pvt. Ltd., Kutch

In the result, the appeal of the revenue is dismissed

ITA 1117/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2012-13

For Appellant: Shri S.N. Soparkar, A.RFor Respondent: Shri Alok Singh, CIT-D.R

Section 143(2)Section 14ASection 32

Bayer Cropscience Ltd, Mumbai vs. Addl CIT RG 10(3), Mumbai

In the result, the appeal filed by the assessee is partly allowed for the statistical purposes and the appeal filed by the Revenue is dismissed

ITA 7619/MUM/2013[2008-09]Status: DisposedITAT Mumbai07 Jun 2018AY 2008-09

Bench: Shri Saktijit Dey & Shri Rajesh Kumarassessment Year: 2008-09

For Appellant: Shri Paras S. Savla, A.R. &For Respondent: Ms. Pooja Swarup, D.R

Section 143(2)Section 14ASection 40Section 40A(2)

…wing case laws where the meaning of “business and commercial right” has been elaborated: • Techno Shares & Stocks Ltd. & Ors. vs. CIT [327 ITR 323] (SC) • Skyline Caterers (P) Ltd. vs. ITO [118 TTJ 344] (Mumbai Tribunal) • Kotak Forex Brokerage Ltd. vs. ACIT [33 SOT 237] (Mumbai Tribunal) • ACIT vs. American Express Services India Ltd. [ITA 74/2003 ITA 75/2003 ITA 653/2005] (Mumbai Tribunal) • ITO vs Medicorp Technologies India Ltd. [122 TTJ 394] (Chennai Tribunal) 29 M/s. Bayer CropScience Ltd. • ACIT vs Real Image Tech. (P) Ltd. [120 TTJ 983] (Chennai Tribunal) • Ashoka Info (P) Ltd. vs. ACIT [123 TTJ 77] (Pun…