Manipal Finance Corporation Limited v. ACTT Circle-1 Udupi

49 Taxmann.com 353High Court2014#6116 most cited

What is Manipal Finance Corporation Limited v. ACTT Circle-1 Udupi authority for?

A High Court decision has followed the Supreme Court's final decision in ICDS Ltd vs CIT regarding the allowability of depreciation on finance leases.

19

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2022.

Also referred to as

Manipal Finance Corporation Limited v. ACTT · depreciation on finance leases · ICDS Ltd vs CIT · allowability of depreciation · Income Tax Act 1961 · sale and lease back

Issues it is cited on

depreciation on leased assetssection 80minterest on refundsection 244mistake apparent from recordsection 244aicdssection 260section 260asection 24section 43section 26

Judgments citing Manipal Finance Corporation Limited v. ACTT Circle-1 Udupi

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

In the result, all the appeals filed by the assessee stands allowed for statistical purposes

ITA 246/BANG/2018[2000-01]Status: DisposedITAT Bangalore28 Sept 2022AY 2000-01

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Anil Kumar, CA
Section 244ASection 260ASection 43

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos. 239 to 242, 244 & 246/Bang/2018 Assessment Years : 1995-96 to 2000-2001 M/s. Maha Rashtra The Deputy Apex Corpn. Ltd., Commissioner of Syndicate House, Income Tax, Manipal – 576 104. Circle – 1, PAN: AACCM2741B Udupi. Vs. APPELLANT RESPONDENT Assessee by : Shri Anil Kumar, CA : Shri Venudhar Godesi, JCIT Revenue by DR Date of Hearing : 21-07-2022 Date of Pronouncement : 28-09-2022 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeals arises out of an order dat…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

In the result, all the appeals filed by the assessee stands allowed for statistical purposes

ITA 244/BANG/2018[1999-00]Status: DisposedITAT Bangalore28 Sept 2022AY 1999-00

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Anil Kumar, CA
Section 244ASection 260ASection 43

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos. 239 to 242, 244 & 246/Bang/2018 Assessment Years : 1995-96 to 2000-2001 M/s. Maha Rashtra The Deputy Apex Corpn. Ltd., Commissioner of Syndicate House, Income Tax, Manipal – 576 104. Circle – 1, PAN: AACCM2741B Udupi. Vs. APPELLANT RESPONDENT Assessee by : Shri Anil Kumar, CA : Shri Venudhar Godesi, JCIT Revenue by DR Date of Hearing : 21-07-2022 Date of Pronouncement : 28-09-2022 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeals arises out of an order dat…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

In the result, all the appeals filed by the assessee stands allowed for statistical purposes

ITA 242/BANG/2018[1998-99]Status: DisposedITAT Bangalore28 Sept 2022AY 1998-99

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Anil Kumar, CA
Section 244ASection 260ASection 43

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos. 239 to 242, 244 & 246/Bang/2018 Assessment Years : 1995-96 to 2000-2001 M/s. Maha Rashtra The Deputy Apex Corpn. Ltd., Commissioner of Syndicate House, Income Tax, Manipal – 576 104. Circle – 1, PAN: AACCM2741B Udupi. Vs. APPELLANT RESPONDENT Assessee by : Shri Anil Kumar, CA : Shri Venudhar Godesi, JCIT Revenue by DR Date of Hearing : 21-07-2022 Date of Pronouncement : 28-09-2022 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeals arises out of an order dat…

M/S MAHARASHTRA APEX CORPORATION LTD ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

In the result, all the appeals filed by the assessee stands allowed for statistical purposes

ITA 241/BANG/2018[1997-98]Status: DisposedITAT Bangalore28 Sept 2022AY 1997-98

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Anil Kumar, CA
Section 244ASection 260ASection 43

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos. 239 to 242, 244 & 246/Bang/2018 Assessment Years : 1995-96 to 2000-2001 M/s. Maha Rashtra The Deputy Apex Corpn. Ltd., Commissioner of Syndicate House, Income Tax, Manipal – 576 104. Circle – 1, PAN: AACCM2741B Udupi. Vs. APPELLANT RESPONDENT Assessee by : Shri Anil Kumar, CA : Shri Venudhar Godesi, JCIT Revenue by DR Date of Hearing : 21-07-2022 Date of Pronouncement : 28-09-2022 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeals arises out of an order dat…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

In the result, all the appeals filed by the assessee stands allowed for statistical purposes

ITA 240/BANG/2018[1996-97]Status: DisposedITAT Bangalore28 Sept 2022AY 1996-97

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Anil Kumar, CA
Section 244ASection 260ASection 43

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos. 239 to 242, 244 & 246/Bang/2018 Assessment Years : 1995-96 to 2000-2001 M/s. Maha Rashtra The Deputy Apex Corpn. Ltd., Commissioner of Syndicate House, Income Tax, Manipal – 576 104. Circle – 1, PAN: AACCM2741B Udupi. Vs. APPELLANT RESPONDENT Assessee by : Shri Anil Kumar, CA : Shri Venudhar Godesi, JCIT Revenue by DR Date of Hearing : 21-07-2022 Date of Pronouncement : 28-09-2022 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeals arises out of an order dat…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

In the result, all the appeals filed by the assessee stands allowed for statistical purposes

ITA 239/BANG/2018[1995-96]Status: DisposedITAT Bangalore28 Sept 2022AY 1995-96

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Anil Kumar, CA
Section 244ASection 260ASection 43

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos. 239 to 242, 244 & 246/Bang/2018 Assessment Years : 1995-96 to 2000-2001 M/s. Maha Rashtra The Deputy Apex Corpn. Ltd., Commissioner of Syndicate House, Income Tax, Manipal – 576 104. Circle – 1, PAN: AACCM2741B Udupi. Vs. APPELLANT RESPONDENT Assessee by : Shri Anil Kumar, CA : Shri Venudhar Godesi, JCIT Revenue by DR Date of Hearing : 21-07-2022 Date of Pronouncement : 28-09-2022 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeals arises out of an order dat…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , UDUPI , UDUPI

240 & 241/Bang/2018

ITA 255/BANG/2018[2012-13]Status: DisposedITAT Bangalore20 Sept 2019AY 2012-13

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…ion under the Income Tax Act,1961 in the case of finance leases. This issue has now achieved finality in the case of ICDS Ltd vs CIT 350 ITR 527 (SC) which has been followed by the jurisdictional High Court in Manipal Finance Corporation limited vs CIT [2014] 49 Taxmann.com 353 ( Karnataka). In the case of Sale and Lease back with related parties the decision of the Hon'ble Supreme Court in Pr Commissioner of Income Tax, City-1 vs Bombay Burmah Trading Corporation Ltd [2018] 256 Taxman 393 dismissed the SLP of the Department both on the grounds of delay as well as merits . The list of the 25 contracts where depre…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 254/BANG/2018[2011-12]Status: DisposedITAT Bangalore20 Sept 2019AY 2011-12

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…ion under the Income Tax Act,1961 in the case of finance leases. This issue has now achieved finality in the case of ICDS Ltd vs CIT 350 ITR 527 (SC) which has been followed by the jurisdictional High Court in Manipal Finance Corporation limited vs CIT [2014] 49 Taxmann.com 353 ( Karnataka). In the case of Sale and Lease back with related parties the decision of the Hon'ble Supreme Court in Pr Commissioner of Income Tax, City-1 vs Bombay Burmah Trading Corporation Ltd [2018] 256 Taxman 393 dismissed the SLP of the Department both on the grounds of delay as well as merits . The list of the 25 contracts where depre…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 253/BANG/2018[2008-09]Status: DisposedITAT Bangalore20 Sept 2019AY 2008-09

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…ion under the Income Tax Act,1961 in the case of finance leases. This issue has now achieved finality in the case of ICDS Ltd vs CIT 350 ITR 527 (SC) which has been followed by the jurisdictional High Court in Manipal Finance Corporation limited vs CIT [2014] 49 Taxmann.com 353 ( Karnataka). In the case of Sale and Lease back with related parties the decision of the Hon'ble Supreme Court in Pr Commissioner of Income Tax, City-1 vs Bombay Burmah Trading Corporation Ltd [2018] 256 Taxman 393 dismissed the SLP of the Department both on the grounds of delay as well as merits . The list of the 25 contracts where depre…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 252/BANG/2018[2007-08]Status: DisposedITAT Bangalore20 Sept 2019AY 2007-08

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…ion under the Income Tax Act,1961 in the case of finance leases. This issue has now achieved finality in the case of ICDS Ltd vs CIT 350 ITR 527 (SC) which has been followed by the jurisdictional High Court in Manipal Finance Corporation limited vs CIT [2014] 49 Taxmann.com 353 ( Karnataka). In the case of Sale and Lease back with related parties the decision of the Hon'ble Supreme Court in Pr Commissioner of Income Tax, City-1 vs Bombay Burmah Trading Corporation Ltd [2018] 256 Taxman 393 dismissed the SLP of the Department both on the grounds of delay as well as merits . The list of the 25 contracts where depre…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 251/BANG/2018[2006-07]Status: DisposedITAT Bangalore20 Sept 2019AY 2006-07

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…ion under the Income Tax Act,1961 in the case of finance leases. This issue has now achieved finality in the case of ICDS Ltd vs CIT 350 ITR 527 (SC) which has been followed by the jurisdictional High Court in Manipal Finance Corporation limited vs CIT [2014] 49 Taxmann.com 353 ( Karnataka). In the case of Sale and Lease back with related parties the decision of the Hon'ble Supreme Court in Pr Commissioner of Income Tax, City-1 vs Bombay Burmah Trading Corporation Ltd [2018] 256 Taxman 393 dismissed the SLP of the Department both on the grounds of delay as well as merits . The list of the 25 contracts where depre…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 250/BANG/2018[2005-06]Status: DisposedITAT Bangalore20 Sept 2019AY 2005-06

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…ion under the Income Tax Act,1961 in the case of finance leases. This issue has now achieved finality in the case of ICDS Ltd vs CIT 350 ITR 527 (SC) which has been followed by the jurisdictional High Court in Manipal Finance Corporation limited vs CIT [2014] 49 Taxmann.com 353 ( Karnataka). In the case of Sale and Lease back with related parties the decision of the Hon'ble Supreme Court in Pr Commissioner of Income Tax, City-1 vs Bombay Burmah Trading Corporation Ltd [2018] 256 Taxman 393 dismissed the SLP of the Department both on the grounds of delay as well as merits . The list of the 25 contracts where depre…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 249/BANG/2018[2004-05]Status: DisposedITAT Bangalore20 Sept 2019AY 2004-05

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…ion under the Income Tax Act,1961 in the case of finance leases. This issue has now achieved finality in the case of ICDS Ltd vs CIT 350 ITR 527 (SC) which has been followed by the jurisdictional High Court in Manipal Finance Corporation limited vs CIT [2014] 49 Taxmann.com 353 ( Karnataka). In the case of Sale and Lease back with related parties the decision of the Hon'ble Supreme Court in Pr Commissioner of Income Tax, City-1 vs Bombay Burmah Trading Corporation Ltd [2018] 256 Taxman 393 dismissed the SLP of the Department both on the grounds of delay as well as merits . The list of the 25 contracts where depre…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 248/BANG/2018[2003-04]Status: DisposedITAT Bangalore20 Sept 2019AY 2003-04

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…ion under the Income Tax Act,1961 in the case of finance leases. This issue has now achieved finality in the case of ICDS Ltd vs CIT 350 ITR 527 (SC) which has been followed by the jurisdictional High Court in Manipal Finance Corporation limited vs CIT [2014] 49 Taxmann.com 353 ( Karnataka). In the case of Sale and Lease back with related parties the decision of the Hon'ble Supreme Court in Pr Commissioner of Income Tax, City-1 vs Bombay Burmah Trading Corporation Ltd [2018] 256 Taxman 393 dismissed the SLP of the Department both on the grounds of delay as well as merits . The list of the 25 contracts where depre…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 247/BANG/2018[2001-02]Status: DisposedITAT Bangalore20 Sept 2019AY 2001-02

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…ion under the Income Tax Act,1961 in the case of finance leases. This issue has now achieved finality in the case of ICDS Ltd vs CIT 350 ITR 527 (SC) which has been followed by the jurisdictional High Court in Manipal Finance Corporation limited vs CIT [2014] 49 Taxmann.com 353 ( Karnataka). In the case of Sale and Lease back with related parties the decision of the Hon'ble Supreme Court in Pr Commissioner of Income Tax, City-1 vs Bombay Burmah Trading Corporation Ltd [2018] 256 Taxman 393 dismissed the SLP of the Department both on the grounds of delay as well as merits . The list of the 25 contracts where depre…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 245/BANG/2018[2000-01]Status: DisposedITAT Bangalore20 Sept 2019AY 2000-01

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…ion under the Income Tax Act,1961 in the case of finance leases. This issue has now achieved finality in the case of ICDS Ltd vs CIT 350 ITR 527 (SC) which has been followed by the jurisdictional High Court in Manipal Finance Corporation limited vs CIT [2014] 49 Taxmann.com 353 ( Karnataka). In the case of Sale and Lease back with related parties the decision of the Hon'ble Supreme Court in Pr Commissioner of Income Tax, City-1 vs Bombay Burmah Trading Corporation Ltd [2018] 256 Taxman 393 dismissed the SLP of the Department both on the grounds of delay as well as merits . The list of the 25 contracts where depre…

M/S MAHARASHTRA APEX CORPORATION LIMITED ,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , , UDUPI

240 & 241/Bang/2018

ITA 243/BANG/2018[1999-00]Status: DisposedITAT Bangalore20 Sept 2019AY 1999-00

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Anil Kumar Rao, C. AFor Respondent: Shri Vikas Suryavamshi, Addl. CIT DR
Section 143Section 154

…ion under the Income Tax Act,1961 in the case of finance leases. This issue has now achieved finality in the case of ICDS Ltd vs CIT 350 ITR 527 (SC) which has been followed by the jurisdictional High Court in Manipal Finance Corporation limited vs CIT [2014] 49 Taxmann.com 353 ( Karnataka). In the case of Sale and Lease back with related parties the decision of the Hon'ble Supreme Court in Pr Commissioner of Income Tax, City-1 vs Bombay Burmah Trading Corporation Ltd [2018] 256 Taxman 393 dismissed the SLP of the Department both on the grounds of delay as well as merits . The list of the 25 contracts where depre…

M/S VECTRA INVESTMENTS PRIVATE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(2), BANGALORE

In the result appeal filed by assessee for assessment year

ITA 1429/BANG/2018[2010-11]Status: DisposedITAT Bangalore31 Jul 2019AY 2010-11

Bench: Shri B.R.Baskaran & Smt.Beena Pillai, Judical Member

For Appellant: Shri. Shailesh Kumar, CAFor Respondent: Shri R.N.Siddappaji, Addl.CIT
Section 115JSection 14ASection 37(1)

…ITA Nos.1429-1430(B)/2018 1 IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES : “B”, BANGALORE BEFORE SHRI B.R.BASKARAN, ACCOUNTANT MEMBER AND SMT.BEENA PILLAI, JUDICAL MEMBER ITA Nos.1429 to 1431(Bang)/2018 (Assessment years : 2010-11, 2011-12 & 2012-13) M/s Vectra Investments Pvt.Ltd., No.15, 5th Floor, Vectra House, 1st Main, 6th Cross, Gandhinagar, Bengaluru-560 009 Appellant Vs The Deputy Commissioner of Income Tax, Circle-7(1)(2), Bangalore Respondent Appellant by : Shri. Shailesh Kumar, CA Revenue by : Shri R.N.Siddappaji, Addl.CIT Date of hearing : 10-07-2019 Date of pronouncement : 31-07-2019 O…

COMMISSIONER OF INCOME TAX DELHI vs. M/S MGF INDIA LTD.

ITA/378/2004HC Delhi21 Feb 2018

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 115JSection 260A

…liability cannot be allowed as a deduction. It was submitted that these aspects were not considered in Virtual Soft Systems (supra) and Weizmann (supra). Learned counsel relied on Manipal Finance Corporation Ltd v. Assistant Commissioner of Income Tax 2014 49 Taxmann.com 353 (Karnataka). 7. Mr. Satyen Sethi, learned counsel for the assessee argued that this Court’s judgment in Virtual Software (supra) has been accepted by most High Courts, i.e. Gujarat High Court, Karnataka High Court etc. Reliance was placed on Prakash Leasing Ltd. v. Commissioner of Income Tax (2012) 208 Taxman 464 (Karn); Commissione…

Manipal Finance Corporation Limited v. ACTT Circle-1 Udupi (49 Taxmann.com 353) — Cited in 19 Judgments | BharatTax