Micro Inks Ltd. v. ACIT

144 ITD 610Income Tax Appellate Tribunal2013#4454 most cited

What is Micro Inks Ltd. v. ACIT authority for?

Loans advanced to a wholly-owned subsidiary without repayment conditions, for commercial purposes, are not considered quasi-capital in nature if there's no material to establish otherwise.

26

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2016 to 2022.

Also referred to as

Micro Inks Ltd. v. ACIT · ITAT Ahmedabad · loan to subsidiary · commercial purpose · repayment condition · quasi-capital nature

Judgments citing Micro Inks Ltd. v. ACIT

Sophos Technologies Private Limited, (Formerly Known As Cyberoam Technologies Private Limited), Ahmedabad vs. The Dy. CIT, Circle-4(1)(1), Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 1565/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad16 Nov 2018AY 2012-13
Section 143(3)Section 92C

…inate bench has, inter alia, observed as under:- “5. We find that this issue is covered, in favour of the assessee, by a decision of the coordinate bench in assessee's own case for the assessment year 2002-03 [reported as Micro Inks Ltd. v. Asstt. CIT [2013] 144 ITD 610/36 taxmann.com 50 (Ahd.), While deleting similar addition, the coordinate bench had observed as follows: "20. The only other ALP adjustment in appeal before us is with respect to, what the authorities below have treated as, excess credit period allowed to Micro USA. This adjustment must be deleted for the short reason that it was part of the arra…

Gemstone Glass Pvt. Ltd., Kadi vs. The Dy. CIT, Circle-3(1)(1), Ahmedabad

In the result, appeal is allowed in the terms indicated above

ITA 414/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad23 Oct 2018AY 2012-13

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. It(Tp)A No.3533/Ahd/2015 - Ay 2010-11 2. It(Tp)A No.3631/Ahd/2015 - Ay 2011-12 3. It (Tp)A No.414/Ahd/2017 - Ay 2012-13

For Appellant: Shri Suhail DuttFor Respondent: Ms. Vasundhara Upmanyu, CIT-DR
Section 143(3)Section 144CSection 154

…eved by which the assessee is in appeal before us. 5. We find that this issue is covered, in favour of the assessee, by a decision of the coordinate bench in assessee's own case for the assessment year 2002-03 [reported as Micro Inks Ltd. v. Asstt. CIT [2013] 144 ITD 610/36 taxmann.com 50 (Ahd.), While deleting similar addition, the co-ordinate bench had observed as follows: "20. The only other ALP adjustment in appeal before us is with respect to, what the authorities below have treated as, excess credit period allowed to Micro USA. This adjustment must be deleted for the short reason that it was part of the ar…

Gemstone Glass Pvt. Ltd., (Successor in Pino Bisaza Glass Pvt. Ltd.), Kadi vs. The Dy.CIT, Circle-3(1)(1), Ahmedabad

In the result, appeal is allowed in the terms indicated above

ITA 3631/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad23 Oct 2018AY 2011-12

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. It(Tp)A No.3533/Ahd/2015 - Ay 2010-11 2. It(Tp)A No.3631/Ahd/2015 - Ay 2011-12 3. It (Tp)A No.414/Ahd/2017 - Ay 2012-13

For Appellant: Shri Suhail DuttFor Respondent: Ms. Vasundhara Upmanyu, CIT-DR
Section 143(3)Section 144CSection 154

…eved by which the assessee is in appeal before us. 5. We find that this issue is covered, in favour of the assessee, by a decision of the coordinate bench in assessee's own case for the assessment year 2002-03 [reported as Micro Inks Ltd. v. Asstt. CIT [2013] 144 ITD 610/36 taxmann.com 50 (Ahd.), While deleting similar addition, the co-ordinate bench had observed as follows: "20. The only other ALP adjustment in appeal before us is with respect to, what the authorities below have treated as, excess credit period allowed to Micro USA. This adjustment must be deleted for the short reason that it was part of the ar…

Gemstone Glass Pvt. Ltd., (Successor in Pino Bisaza Glass Pvt. Ltd.), Kadi vs. The Dy.CIT, Circle-3(1)(1), Ahmedabad

In the result, appeal is allowed in the terms indicated above

ITA 3533/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad23 Oct 2018AY 2010-11

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy1. It(Tp)A No.3533/Ahd/2015 - Ay 2010-11 2. It(Tp)A No.3631/Ahd/2015 - Ay 2011-12 3. It (Tp)A No.414/Ahd/2017 - Ay 2012-13

For Appellant: Shri Suhail DuttFor Respondent: Ms. Vasundhara Upmanyu, CIT-DR
Section 143(3)Section 144CSection 154

…eved by which the assessee is in appeal before us. 5. We find that this issue is covered, in favour of the assessee, by a decision of the coordinate bench in assessee's own case for the assessment year 2002-03 [reported as Micro Inks Ltd. v. Asstt. CIT [2013] 144 ITD 610/36 taxmann.com 50 (Ahd.), While deleting similar addition, the co-ordinate bench had observed as follows: "20. The only other ALP adjustment in appeal before us is with respect to, what the authorities below have treated as, excess credit period allowed to Micro USA. This adjustment must be deleted for the short reason that it was part of the ar…

Bisazza India Limited, Mehsana vs. The Income Tax Officer, Ward-1(1)(3), Ahmedabad

In the result, appeal is allowed in the terms indicated above

ITA 3543/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad16 May 2018AY 2012-13
Section 143(3)Section 92C

…ved by which the assessee is in appeal before us. We find that this issue is covered, in favour of the assessee, by a decision 5. of the coordinate bench in assessee's own case for the assessment year 2002- 03 [reported as Micro Inks Ltd. v. Asstt. CIT [2013] 144 ITD 610/36 taxmann.com 50 (Ahd.), While deleting similar addition, the co-ordinate bench had observed as follows: "20. The only other ALP adjustment in appeal before us is with respect to, what the authorities below have treated as, excess credit period allowed to Micro USA. This adjustment must be deleted for the short reason that it was part of the arr…

Taurian Iron & Steel Co. P.Ltd, Mumbai vs. Addl CIT RG 4(3), Mumbai

In the result, appeal of the assessee is partly allowed, in terms indicated hereinabove

ITA 5920/MUM/2012[2008-09]Status: DisposedITAT Mumbai16 Sept 2016AY 2008-09
For Appellant: Shri K.B.DesaiFor Respondent: Shri N.K.Chand
Section 143(3)Section 250(6)

…(ii). Aditya Birla Vs. DCIT (69 SOT 18)(Mum) (iii) Allcargo Global Logistics Ltd.Vs. ACIT (150 ITD 651 )(Mum) (iv) Parle Biscuits (P) Ltd. Vs. DCIT (46 taxmann.coml 1)(Mum) (v). Vijay Electricals Ltd. Addl. CIT (60 SOT 77)(Hyd) (vi). Micro Inks Ltd. Vs. ACIT (144 ITD 610)(Ahd) (vii).Prithvi Information Solutions Ltd. Vs. ACIT (49 Taxmann.com 176)(Hyd). (viii).Hill Country Properties Ltd. Vs. Addl. CIT (48 Taxmann.com.94)(Hyd). (ix). ITO Vs. Sterling Oil Resources (P) Ltd. (67 Taxmann.com 2)(Mum). 26. The Ld. A.R to further support his aforesaid contention that the lower authorities had seriously erred in re-chara…