Kwality Biscuits Ltd. v. CIT

243 ITR 519High Court2000#13823 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2013 to 2024.

Sections most often in play

Section 115JB Section 234C Section 115J Section 115JA Section 143(1)Section 143(3)Section 143/144 Section 154

Issues it is cited on

section 115ja section 234c interest u/s 234b advance tax section 115j section 115jb section 234b section 20 section 234 section 23 section 115 section 11

Judgments citing Kwality Biscuits Ltd. v. CIT

Idfc Financial Holding Company Limited, Chennai vs. DCIT, Corporate Circle-2(2), Hennai

In the result, appeal filed by the assessee is partly allowed

ITA 241/CHNY/2024[2019-20]Status: DisposedITAT Chennai04 Dec 2024AY 2019-20

Bench: Shri Aby T. Varkey & Shri Manoj Kumar Aggarwal

For Appellant: Mr.Ketan K. Ved, CAFor Respondent: Ms.R. Anita, Addl.CIT

Section 115JSection 143(1)Section 234C

…आयकर अपीलीय अिधकरण, ’सी’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH: CHENNAI "ी एबी टी. वक", "ाियक सद" एवं एवं एवं एवं "ी मनोज कुमार अ"वाल, लेखा सद" के सम" BEFORE SHRI ABY T. VARKEY, JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.241/Chny/2024 िनधा"रण वष"/Assessment Year: 2019-20 v. M/s. IDFC Financial Holdings- The DCIT, Co. Ltd., Corporate Circle-2(2), 4th Floor, Capitale Tower, Chennai. 555, Anna Salai, Thiru Vi Ka Kudiyiruppu, Teynampet, Chennai-600 018. [PAN: AADCI 6586 K] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant by : Mr…

M/S. Prakash Industries Ltd, New Delhi vs. ACIT, Hisar

In the result, the appeal of the assessee in ITA No

ITA 1389/DEL/2014[2007-08]Status: DisposedITAT Delhi04 Mar 2024AY 2007-08

Bench: Shri N.K. Billaiya & Ms Astha Chandra

For Appellant: Shri Ajay Wadhwa, AdvFor Respondent: Shri Vivek Vardhan, Sr. DR

Section 115JSection 143(3)Section 154Section 205(1)(b)Section 234B

…e assessee was liable to pay interest u/s 234B & 234C of the Act when it filed the impugned return of income and when the impugned assessment was made. 8. The answer lies in the order of the Hon'ble High Court of Karnataka in the case of Kwality Biscuits Ltd 243 ITR 519 wherein it was held as under: “ In view of the judgment of the apex court in the case of Surana Steels Pvt. Ltd. v. Dy. CIT [1993] 201 ITR (AT) 1 (Hyd) we are of the view that, for the purpose of Section 115J of the Act read with Section 205(1)(b) of the Companies Act, the expression "loss" under the Companies Act is to be reckoned after allowan…

Hamilton Industries Pvt. Ltd., Mumbai vs. ITO -WD 7(1)(1), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 218/MUM/2022[2018-19]Status: DisposedITAT Mumbai10 Aug 2022AY 2018-19

Bench: Shri Aby T Varkey & Shri Gagan Goyalm/S Hamilton Industries Pvt. Ltd. Unit No. 8 & 9, Ground Floor, Kakad, Chamber, 132, Dr. Annie Besant Road, Worli, Mumbai-400018. Pan: Aaach0375E ...... Appellant Vs. Ito, Ward 7(1)(1), Aayakar Bhavan, Mumbai-400020. ..... Respondent Appellant By : Sh. Piyush Chhajed, C.A Respondent By : Sh. Prasoon Kabra Date Of Hearing : 18/05/2022 Date Of Pronouncement : 10/08/2022 Order Per Gagan Goyal, A.M:

For Appellant: Sh. Piyush Chhajed, C.AFor Respondent: Sh. Prasoon Kabra

Section 139(1)Section 143(1)Section 143(1)(a)Section 154Section 208Section 234CSection 250Section 44A

…s 115JB. An identical issue had been considered by the hon’ble Mumbai High Court in the case of JCIT Vs Summit Industries Ltd (Supra.) and decided in the favour of the revenue. Similarly, hon’ble Karnataka High Court in the case of Kwality Biscuits Ltd Vs CIT 243 ITR 519 and hon’ble ITAT Jaipur bench in the case of M/s GIE Jewels (ITA No. 794/JP/2017), decided in the favour of charging interest u/s 234C of the Act. 6 ITA No. 218 Mum 2022-M/s Hamilton Industries Pvt. Ltd. 8. We have analysed circular no.13, cases decided in favour of revenue (supra.) and relied upon by the Ld. CIT (A). This circular and the cas…

M/S Gie Jewels, Jaipur vs. Income Tax Officer, Ward-2-1, Jaipur

In the result, the appeals of the assessee are dismissed

ITA 794/JPR/2017[2013-14]Status: DisposedITAT Jaipur08 Dec 2017AY 2013-14

For Appellant: Shri S.L. Poddar (Adv.)For Respondent: Smt. Neena Jeph (J.CIT)

Section 115JSection 143(3)Section 154Section 208Section 234Section 234B

…and against the assessee.” Hence, it is clear that the Hon’ble Supreme Court in case of JCIT vs. Rolta India Ltd. (supra) has decided this issue on merit after considering the decision of Hon’ble Karnataka High Court in case of Kwality Biscuits Ltd. vs. CIT 243 ITR 519 and held that the interest u/s 234B and 234C shall be payable on failure to pay advance tax in respect of the tax payable u/s 115JA and 115JB. Following the decisions of Hon’ble Supreme Court in case of JCIT vs. Rolta India Ltd. (supra), Hon’ble Bombay High Court as well as Hon’ble Punjab and Haryana High Court cited above we do not find any e…

ACIT 3(2), Mumbai vs. Mangalore Refinery & Petrochemicals Ltd, Mumbai

In the result, the Cross objection filed by the assessee is allowed, as above

ITA 6835/MUM/2008[2004-2005]Status: DisposedITAT Mumbai23 Nov 2016AY 2004-2005

Bench: Shri G.S. Pannu & Shri Amit Shukla: (A.Y : 2004-05)

For Appellant: Shri S.E. Dastor & Shri Niraj ShethFor Respondent: Shri G.M. Doss

Section 115JSection 143(3)Section 40A(9)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA, JUDICIAL MEMBER : (A.Y : 2004-05) ACIT-3(2), Vs. M/s. Mangalore Refinery & Mumbai (Appellant) Petrochemicals Ltd. Arcadia, 195 NCPA Marg, Nariman Point, Mumbai 400 021 (Respondent) PAN : AAACM5132A CO NO. 105/MUM/2009 : (A.Y : 2004-05) (Arising out of ITA No.6835/Mum/2008) M/s. Mangalore Refinery & Vs. ACIT-3(2), Petrochemicals Ltd. Mumbai (Appellant in Appeal) Arcadia, 195 NCPA Marg, Nariman Point, Mumbai 400 021 (Cross Objector) PAN : AAACM5132A Assessee by : Shri S.E. Dastor & Shri…

The Asstt. Commissioner of Income Tax vs. M/S. A.R. Enterprises

C.A. No.-002688-002688 - 2006Supreme Court14 Jan 2013

Section 132Section 158BSection 260A

…rrectly pointed out that for the purpose of payment of advance tax, all assessees including companies, are required to make an estimate of 5 [2003] 264 ITR 744 (Raj) 6 191 (2012) DLT 249 7 [2011] 333 ITR 464 (Bom) 8 [2009] 312 ITR 161 (Ker) 9 [2000) 243 ITR 519 (Kar) 10 [2006] 284 ITR 434 (SC) 11 [2005] 279 ITR 123 (P&H) 29 Page 30 JUDGMENT their current income. Even before the introduction of the provisions of Section 115J of the Act, companies had been estimating their total income after providing deductions admissible under the Act. In fact, all assessees who maintain books of acc…

The Asstt. Commissioner of Income Tax vs. M/S. A.R. Enterprises

C.A. No.-002688-002688 - 2006Supreme Court14 Jan 2013

Section 132Section 158BSection 260A