Lakshminarayana Films v. Commissioner of Income Tax (244 ITR 344)

DCIT CENTRAL CIRCLE 2(4), CHENNAI vs. R.S.SURIYA, CHENNAI

In the result, the appeal filed by the Revenue is allowed for statistical purposes

ITA 993/CHNY/2019[2013-14]Status: DisposedITAT Chennai24 Jan 2022AY 2013-14

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.993/Chny/2019 िनधा"रण वष"/Assessment Years: 2013-14 The Deputy Commissioner Of Shri R.S. Suriya, Income Tax, Central Circle 2(4) Vs. Prop: 36, Arcot Street, T. Nagar, Investigation Building, Chennai600 017. Chennai 600 034. [Pan:Alrps0353G] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri Ar V. Sreenivasan, Addl. Cit ""थ" की ओर से/Respondent By : Ms. Jharna B. Harilal, C.A. सुनवाई की तारीख/ Date Of Hearing : 03.01.2022 घोषणा की तारीख /Date Of Pronouncement : 24.01.2022 आदेश /O R D E R Per V. Durga Rao: The Appeal Filed By The Revenue Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)-18, Chennai Dated 27.11.2018 Relevant To The Assessment Year 2013-14. 2. The Appeal Filed By The Revenue Is Delayed By 44 Days In Filing The Appeal, For Which, The Revenue Has Filed A Petition For Condonation Of The Delay, To Which; The Ld. Counsel For The Assessee Has Not Raised Any Serious Objection. Consequently, Since The Revenue Was 2

For Appellant: Shri AR V. Sreenivasan, Addl. CITFor Respondent: Ms. Jharna B. Harilal, C.A

Section 143(3)

…the Tribunal in assessee’s own case in I.T.A. Nos. 1944 to 1946/Mds/2014 dated 30.06.2015 for the assessment years 2004-05 to 2006-07 and also the decision of the Hon’ble Madras 3 I.T.A. No.993/Chny/19 High Court in the case of Lakshminarayana Films v. CIT 244 ITR 344, decided the issue in favour of the assessee. For the sake of convenience, the order of the ld. CIT(A) is extracted as under: “6.4.2 Similarly, the Hon’ble ITAT in the order in ITA Nos. 1944 to 1946/Mds/2014 dated 30th June, 2015 for the A.Ys. 2004-05 to 2006-07 in the appellant’s own case in paras 7, 8, & 9 observed as under: “....We also find t…

DCIT CIRCLE 15(3)(2), MUMBAI vs. M/S SHIVAAMI CLOUND SERVICES PVT LTD., MUMBAI

In the result, the appeal filed by the revenue is hereby dismissed

ITA 2599/MUM/2019[2014-15]Status: DisposedITAT Mumbai30 Jun 2021AY 2014-15

For Appellant: Shri Himanshu GandhiFor Respondent: Shri T. S. Khalsa (DR)

Section 143(2)

…me in the sense that the services are yet to be provided, the money received would be the income at the hands of the assessee. In support of her argument, she referred to the judgment of the Madras High Court in the case of Lakshminarayana Films v. CIT [2000) 244 ITR 344 and particularly impressed upon the following discussion : "7. We have considered the rival submissions made by the assessee as well as the Revenue. The fact remains that the assessee had leased out the dubbing rights of its above said picture for Tamil and Malayalam to Jay Films and Gine Link Service by agreements dated May 25, 1974, and August…

ARUN S. PATIL,,PUNE vs. INCOME-TAX OFFICER,,

In the result, the appeal of the Revenue is dismissed

ITA 1224/PUN/2015[2010-11]Status: DisposedITAT Pune29 Apr 2019AY 2010-11

For Appellant: Shri Nikhil PathakFor Respondent: Shri S. B. Prasad, CIT

Section 143(3)Section 2(47)(iv)Section 269U

…plete the sale deed. Where the right to receive depended on performance of a conditional obligation as per agreement, the advance cannot have the character of income till such obligation is discharged. It was so decided in Lakshmi Narayana Films Vs CIT (2000) 244 ITR 344 (Mad). Advances as such do not normally have the character of income. A commercial transaction gets completed on an assessee discharging his obligation under his contract by handing over possession of the goods to his customers and only at that stage of conclusion of the transaction the advance ceases to be so. The contention raised by the appell…

INCOME-TAX OFFICER vs. SHRI ARUN S. PATIL,, PUNE

In the result, the appeal of the Revenue is dismissed

ITA 1204/PUN/2015[2010-11]Status: DisposedITAT Pune29 Apr 2019AY 2010-11

For Appellant: Shri Nikhil PathakFor Respondent: Shri S. B. Prasad, CIT

Section 143(3)Section 2(47)(iv)Section 269U

…plete the sale deed. Where the right to receive depended on performance of a conditional obligation as per agreement, the advance cannot have the character of income till such obligation is discharged. It was so decided in Lakshmi Narayana Films Vs CIT (2000) 244 ITR 344 (Mad). Advances as such do not normally have the character of income. A commercial transaction gets completed on an assessee discharging his obligation under his contract by handing over possession of the goods to his customers and only at that stage of conclusion of the transaction the advance ceases to be so. The contention raised by the appell…

Deputy Commissioner of Income Tax vs. CURLS & CURVES INDIA LTD.

ITA-1093/2008HC Delhi29 Oct 2010

…are yet to be provided, the money received would be the income at the hands of the assessee. In support of her argument, she referred to the judgment of the Madras High Court in the case of Lakshminarayana Films Vs. Commissioner of Income Tax [244 ITR 344 (AP)] and particularly impressed upon the following discussion: “7. We have considered the rival submissions made by the assessee as well as the Revenue. The fact remains that the assessee had leased out the dubbing rights of its abovesaid picture for Tamil and Malayalam to Jay Films and Cine Link Service by agreements dated May 25, 1974,…

DEPUTY COMMISSIONER OF INCOME TAX vs. CURLS & CURVES INDIA LTD.

ITA - 1093 / 2008HC Delhi29 Oct 2010

…are yet to be provided, the money received would be the income at the hands of the assessee. In support of her argument, she referred to the judgment of the Madras High Court in the case of Lakshminarayana Films Vs. Commissioner of Income Tax [244 ITR 344 (AP)] and particularly impressed upon the following discussion: “7. We have considered the rival submissions made by the assessee as well as the Revenue. The fact remains that the assessee had leased out the dubbing rights of its abovesaid picture for Tamil and Malayalam to Jay Films and Cine Link Service by agreements dated May 25, 1974,…

Lakshminarayana Films v. Commissioner of Income Tax