Madras Gymkhana Club v. DCIT

328 ITR 348High Court2010#17669 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 348,356 Indian tax judgments — from 2019 to 2020.

Judgments citing Madras Gymkhana Club v. DCIT

ACIT, Chennai vs. Sri. K.Srikanth, Chennai

In the result, all the four appeals adjudicated by us in this order are partly allowed

ITA 1324/CHNY/2012[2001-02]Status: DisposedITAT Chennai19 May 2020AY 2001-02

Bench: Shri George Mathan & Shri Ramit Kochar

For Appellant: Mr. S.Sridhar, AdvFor Respondent: Dr. M.Srinivasa Rao, CIT
Section 143(3)Section 147Section 263

…neering Works Pvt. Ltd. 198 ITR 297(SC), the Hon'ble Supreme Court has held that re-assessment proceedings are for the benefit of revenue and are aimed at gathering the escaped income. The Hon'ble Madras High Court in the case of Madras Gymkhana Club v. DCIT, 328 ITR 348 (Mad) has held the reopening to be valid under similar circumstances. In view of the above factual position and authoritative precedents, I am of the considered opinion that the reopening has been validly initiated. The ground is accordingly dismissed.” On merits of the issue in appeal, the Ld.CIT(A) accepted contentions of the assessee that Rs.…

Sri K.Srikanth, Chennai vs. ACIT, Chennai

In the result, all the four appeals adjudicated by us in this order are partly allowed

ITA 1016/CHNY/2012[2001-02]Status: DisposedITAT Chennai19 May 2020AY 2001-02

Bench: Shri George Mathan & Shri Ramit Kochar

For Appellant: Mr. S.Sridhar, AdvFor Respondent: Dr. M.Srinivasa Rao, CIT
Section 143(3)Section 147Section 263

…neering Works Pvt. Ltd. 198 ITR 297(SC), the Hon'ble Supreme Court has held that re-assessment proceedings are for the benefit of revenue and are aimed at gathering the escaped income. The Hon'ble Madras High Court in the case of Madras Gymkhana Club v. DCIT, 328 ITR 348 (Mad) has held the reopening to be valid under similar circumstances. In view of the above factual position and authoritative precedents, I am of the considered opinion that the reopening has been validly initiated. The ground is accordingly dismissed.” On merits of the issue in appeal, the Ld.CIT(A) accepted contentions of the assessee that Rs.…

Sri K.Srikanth, Chennai vs. ACIT, Chennai

In the result, all the four appeals adjudicated by us in this order are partly allowed

ITA 1015/CHNY/2012[2001-02]Status: DisposedITAT Chennai19 May 2020AY 2001-02

Bench: Shri George Mathan & Shri Ramit Kochar

For Appellant: Mr. S.Sridhar, AdvFor Respondent: Dr. M.Srinivasa Rao, CIT
Section 143(3)Section 147Section 263

…neering Works Pvt. Ltd. 198 ITR 297(SC), the Hon'ble Supreme Court has held that re-assessment proceedings are for the benefit of revenue and are aimed at gathering the escaped income. The Hon'ble Madras High Court in the case of Madras Gymkhana Club v. DCIT, 328 ITR 348 (Mad) has held the reopening to be valid under similar circumstances. In view of the above factual position and authoritative precedents, I am of the considered opinion that the reopening has been validly initiated. The ground is accordingly dismissed.” On merits of the issue in appeal, the Ld.CIT(A) accepted contentions of the assessee that Rs.…

Shri K.Srikanth, Chennai vs. ACIT, Chennai

In the result, all the four appeals adjudicated by us in this order are partly allowed

ITA 307/CHNY/2010[2001-02]Status: DisposedITAT Chennai19 May 2020AY 2001-02

Bench: Shri George Mathan & Shri Ramit Kochar

For Appellant: Mr. S.Sridhar, AdvFor Respondent: Dr. M.Srinivasa Rao, CIT
Section 143(3)Section 147Section 263

…neering Works Pvt. Ltd. 198 ITR 297(SC), the Hon'ble Supreme Court has held that re-assessment proceedings are for the benefit of revenue and are aimed at gathering the escaped income. The Hon'ble Madras High Court in the case of Madras Gymkhana Club v. DCIT, 328 ITR 348 (Mad) has held the reopening to be valid under similar circumstances. In view of the above factual position and authoritative precedents, I am of the considered opinion that the reopening has been validly initiated. The ground is accordingly dismissed.” On merits of the issue in appeal, the Ld.CIT(A) accepted contentions of the assessee that Rs.…

M/S. Sobha Magnolia Condominium Owners Association, Bengaluru vs. Income Tax Officer, Ward 4(3)(1), Bengaluru

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

ITA 1934/BANG/2018[2013-14]Status: DisposedITAT Bangalore16 May 2019AY 2013-14

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumarassessment Year :2013-14 M/S. Sobha Magnolia Condominium Owners Association, The Income Tax Officer, No. 16, Bannerghatta Road, Vs. Ward – 4 (3) (1), 1St Main, Gurrappanapalya, Bangalore. Bangalore – 560 076. Pan: Aagas0682P Appellant Respondent Appellant By : Shri C. Prashanth, Ca Respondent By : Shri R.N. Siddappaji, Addl. Cit (Dr) Date Of Hearing : 02.05.2019 Date Of Pronouncement : 16.05.2019

For Appellant: Shri C. Prashanth, CAFor Respondent: Shri R.N. Siddappaji, Addl. CIT (DR)
Section 143Section 250

…ars in Tax Case Nos. 928, 1067 to 1069 of 2009, wherein this court dismissed the appeal by holding as follows: “The very question came up for consideration before this court in a batch of cases rendered in Madras Gymkhana Club v. Deputy CIT reported in [2010] 328 ITR 348 (Mad.) ; [2009] 28 DTR Judgments page 9. (T.C. Nos. 397 to 404 of 2008 dated July 30, 2009). The Division Bench, after a detailed analysis of the question involved took the view that investment of surplus funds by such clubs with some of the member banks and institutions in the form of fixed deposits and securities not with a definite idea of usi…

Madras Gymkhana Club v. DCIT (328 ITR 348) — Cited in 5 Judgments | BharatTax