Madras Co-Operative Central Land Mortgage Bank Limited v. CIT

67 ITR 89Supreme Court of India1968#25448 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2011 to 2023.

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Judgments citing Madras Co-Operative Central Land Mortgage Bank Limited v. CIT

Assistant Commissioner of Income Tax, Central Circle -2, Surat vs. M/S Aalidhar Textool Engineers Pvt. Ltd., Surat

In the result, the grounds of appeal raised by Revenue are partly allowed

ITA 226/SRT/2023[2017-18]Status: DisposedITAT Surat20 Nov 2023AY 2017-18

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 133(6)Section 14ASection 254(1)Section 80G

…Rule 8D was not applicable, the Assessing Officer was required to adopt reasonable method in consistent with the facts and circumstances and material on record. We find that Hon’ble Apex Court in Madras Co-Operative Central Land Mortgage Bank Limited vs. CIT, 67 ITR 89 (SC) also held that where the income of cooperative society from its trading activity was exempt from tax, the income of assessee from government securities was apportioned between income earned from investment for trading and non-trading purposes. Thus, we find that in absence of a statutory rule or a departmental instruction, the Hon’ble Apex Cou…

Asst. Commissioner of Income Tax, CC-2, Surat vs. Aalidhaara Textool Engineers Pvt. Ltd, Surat

In the result, the grounds of appeal raised by Revenue are partly allowed

ITA 288/SRT/2022[2018-19]Status: DisposedITAT Surat20 Nov 2023AY 2018-19

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 133(6)Section 14ASection 254(1)Section 80G

…Rule 8D was not applicable, the Assessing Officer was required to adopt reasonable method in consistent with the facts and circumstances and material on record. We find that Hon’ble Apex Court in Madras Co-Operative Central Land Mortgage Bank Limited vs. CIT, 67 ITR 89 (SC) also held that where the income of cooperative society from its trading activity was exempt from tax, the income of assessee from government securities was apportioned between income earned from investment for trading and non-trading purposes. Thus, we find that in absence of a statutory rule or a departmental instruction, the Hon’ble Apex Cou…

Commissioner of Income Tax Delhi IV vs. Ehpt India P.Ltd

ITA - 1172 / 2008HC Delhi14 Dec 2011
Section 10ASection 143(3)Section 260A

…istent with commercial accounting principles, should not be disturbed. In support of these submissions, the assessee relied on the judgment of the Madras High Court in Madras Co-operative Central Land Mortgage Bank Ltd. v. Commissioner of Income Tax (1968)67 ITR 89 and the judgment of the Supreme Court in Hukumchand Mills Ltd. V CIT (1976)103 ITR 548. 5. The CIT(A) dismissed the contentions of the assessee with the following observations: “In the cases relied upon by the appellant counsel of Madras Coop Central and Mortgage Ltd., and Hukum Chand Ltd. (supra), the apportionment has been done on 2011:D…

Madras Co-Operative Central Land Mortgage Bank Limited v. CIT (67 ITR 89) — Cited in 3 Judgments | BharatTax