Mohan Ganeriwala: 260 ITR 417 (P&H) (11) Thirani Chemicals Ltd. v. DCIT

70 ITD 200Income Tax Appellate Tribunal1999#11773 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 341,001 Indian tax judgments — from 2016 to 2023.

Judgments citing Mohan Ganeriwala: 260 ITR 417 (P&H) (11) Thirani Chemicals Ltd. v. DCIT

Kalubhai Dulabhai Golaviya, Surat vs. The Deputy Commissioner of Income Tax, Circle-2, Surat

In the result, ground raised by the assessee is allowed

ITA 619/SRT/2018[2014-15]Status: DisposedITAT Surat30 Mar 2023AY 2014-15

Bench: Shri Pawan Singh, Jm &Dr. A.L.Saini, Am आयकर अपीलसं./It(Ss)A No.15 & Ita No.619/Srt/2018 (िनधा"रणवष" / Assessment Years: (2011-12 &2014-15) (Virtual Court Hearing) Shri Kalubhai Dulabhai Golaviya Deputy Commissioner Of Income-Tax, B/1-2, Jalaram Society, B/H. Central Circle-2, Aaykar Bhavan, Vs. Gurunagar Society, Varachha Majura Gate, Surat-395001 Road, Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ablpp 5116 A (अपीलाथ" /Appellant) (""थ" /Respondent)

For Appellant: Shri Ashwin K Parekh, C.AFor Respondent: Shri Ashok B.Koli, CIT-DR &
Section 132Section 143(2)Section 143(3)Section 153ASection 45(3)Section 54F

…e facts ipso facto prove the intention of the assessee to hold the land as capital assets. 3. This was the sole transaction of plotting in view of the decision of ITAT in M. Ramanamma vs. CIT reported at 255 ITR 467, Vesta Investment & Trading Co. reported at 70 ITD 200 and Vinodkumar vs. Additional CIT reported at 91 TTJ 460.” 6. However, the Assessing Officer rejected the contention of the assessee and held that intention of the assessee was to enter into trade of purchase and sale of land, therefore, the long term capital gain worked out by the assessee in computing his total income and deduction claimed u/s…

M/S. North Eastern Electric Power Corporation Ltd., Shillong vs. Assistant Commissioner of Income Tax, Circle - Shillong, Shillong

In the result, the appeal of the assessee in ITA

ITA 45/GTY/2019[2014-15]Status: DisposedITAT Guwahati12 Dec 2022AY 2014-15

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

Section 143(3)Section 263

…otion Council 244 ITR 734 (Del) (9) CIT v. Neo Poly Pack (P) Ltd. 245 ITR 492 (Del) (10) CIT v. Gilds'- Mohan Ganeriwala: 260 ITR 417 (P&H) (11) Thirani Chemicals Ltd. v. DCIT 153 Taxman 45 (Del) 12. Vesta Investmemnt and Trading Co.(P) Limited –vs.- CIT: 70 ITD 200(Chd.) 35 Assessment Year: 2014-2015 & Assessment Year:2014-2015 M/s. North Eastern Electric Power Corporation Limited 31. Further we observe that the assessee is maintaining mercantile system of accounting as per Section 145 of the Act except for the accounting of delayed payment surcharge on cash basis which means that the assessee is followi…

M/S. North Eastern Electric Power Corporation Ltd., Shillong vs. Assistant Commissioner of Income Tax, Circle - Shillong, Shillong

In the result, the appeal of the assessee in ITA

ITA 418/GTY/2019[2014-15]Status: DisposedITAT Guwahati12 Dec 2022AY 2014-15

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

Section 143(3)Section 263

…otion Council 244 ITR 734 (Del) (9) CIT v. Neo Poly Pack (P) Ltd. 245 ITR 492 (Del) (10) CIT v. Gilds'- Mohan Ganeriwala: 260 ITR 417 (P&H) (11) Thirani Chemicals Ltd. v. DCIT 153 Taxman 45 (Del) 12. Vesta Investmemnt and Trading Co.(P) Limited –vs.- CIT: 70 ITD 200(Chd.) 35 Assessment Year: 2014-2015 & Assessment Year:2014-2015 M/s. North Eastern Electric Power Corporation Limited 31. Further we observe that the assessee is maintaining mercantile system of accounting as per Section 145 of the Act except for the accounting of delayed payment surcharge on cash basis which means that the assessee is followi…

Second Leasing Private Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee is partly allowed

ITA 1565/DEL/2011[2007-08]Status: DisposedITAT Delhi04 Jun 2018AY 2007-08

Bench: Shri H.S. Sidhu & Shri N.K. Billaiyaassessment Year: 2007-08

For Appellant: Sh. Ved Jain, Adv. &For Respondent: Sh. K. Tiwari, Sr. DR
Section 143(2)Section 143(3)Section 14A

…essee but also the later on circular issued by the CBDT no. 6/2016 dated 29.02.2016 clearly supports the case of the assessee in respect of the long term capital gain. Further, the judgment in the case of Vesta Investment and Trading Co. Pvt. Ltd. vs. CIT 70 ITD 200 (Chd.) also support the case of the assessee wherein it has been held that although res judicata is not applicable to income tax proceeding however, for the sake of consistency, the earlier view taken should not be disturbed unless there is a change in facts. In the present case, the assessee all along has been making investment and accounting f…

Superior Financial Consultancy Services P.Ltd, Mumbai vs. Asst CIT Cir 1(3), Mumbai

In the result, both the appeal of assessee and revenue are dismissed

ITA 3113/MUM/2015[2006-07]Status: DisposedITAT Mumbai30 May 2018AY 2006-07

Bench: Shri R.C.Sharma, Am & Shri Pawan Singh, Jm

Section 10(38)Section 111Section 143(3)

…smission of shares thereon. 6.3 Regarding the third issue whether the assessee can be an Investor as well as a speculator in shares simultaneously, the Ld.CIT(A) has relied on the decision of the Tribunal in the case of Vesta Investments & Trading Co.(P) Ltd (70 ITD 200)(Chd) wherein if has been held that in the case of assessee holding both shares as well as investments for which separate accounts are kept and if the Department in the past has accepted the sale of shares held as investments would give rise to capital gains and not business. Since the said decision is squarely applicable in the case of the assess…

Shibir India Limited, Kolkata vs. DCIT, Circle-1, Kolkata

In the result, the appeal of the assessee is allowed

ITA 1688/KOL/2016[2007-08]Status: DisposedITAT Kolkata14 Mar 2018AY 2007-08

Bench: Shri P.M. Jagtap & Shri A.T. Varkey

…mission of shares thereon. 6.3. Regarding the third issue whether the assessee can be an investor as well as a speculator in shares simultaneously, the Ld. CIT{A) has relied on the decision of the Tribunal in the case of Vesta Investments &Trading Co.{P) Ltd (70 ITD 200)(Chd) wherein it has been held that in the case of assessee holding both shares as well as investments for which separate accounts are kept and if the Department in the past has accepted the sale of shares held as investments would give rise to capital gains and not business. Since the said decision is squarely applicable in the case of the assess…

DCIT, Circle - 10, Kolkata vs. M/S. Veda Commercial Pvt. Ltd., Kolkata

Appeal is partly allowed for statistical purposes

ITA 1527/KOL/2010[2007-08]Status: DisposedITAT Kolkata16 Nov 2016AY 2007-08

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

For Appellant: Shri Subash Agarwal, AdvocateFor Respondent: Shri Rabin Chaudhury, JCIT
Section 143(3)Section 14A

…yons & Roses Pvt Ltd in ITA No. 1148 & 1437/Kol/2009 dated 20.1.2016 (Kolkata Tribunal) DCIT vs The Diamond Co. LTd in iTA No. 16258/Kol/2010 for Asst Year 2007-08 dated 29.11.2011 (Kolkata Tribunal) Vesta Investments & Trading Co.(P) Ltd vs CIT reported in 70 ITD 200 (CHD) Ramnarain Sons (Pr) Ltd vs CIT reported in 41 ITR 534 (SC) ACIT vs Kethan Kumar A Shah reported in 242 ITR 83 (Ker) Motilal Oswal vs Addl CIT reported in 8 SOT 771 (Bom) CIT vs N.S.S.Investments P Ltd reported in 277 ITR 149 (Mad) Janak S Rangwalla vs ACIT reported in 11 SOT 627 (Mum) CIT vs Gopal Purohit reported in 228 CTR 582 (Bom)…

DCIT, Circle - 10, Kolkata vs. M/S. Veda Commercial Pvt. Ltd., Kolkata

Appeal is partly allowed for statistical purposes

ITA 1064/KOL/2010[2006-07]Status: DisposedITAT Kolkata16 Nov 2016AY 2006-07

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

For Appellant: Shri Subash Agarwal, AdvocateFor Respondent: Shri Rabin Chaudhury, JCIT
Section 143(3)Section 14A

…yons & Roses Pvt Ltd in ITA No. 1148 & 1437/Kol/2009 dated 20.1.2016 (Kolkata Tribunal) DCIT vs The Diamond Co. LTd in iTA No. 16258/Kol/2010 for Asst Year 2007-08 dated 29.11.2011 (Kolkata Tribunal) Vesta Investments & Trading Co.(P) Ltd vs CIT reported in 70 ITD 200 (CHD) Ramnarain Sons (Pr) Ltd vs CIT reported in 41 ITR 534 (SC) ACIT vs Kethan Kumar A Shah reported in 242 ITR 83 (Ker) Motilal Oswal vs Addl CIT reported in 8 SOT 771 (Bom) CIT vs N.S.S.Investments P Ltd reported in 277 ITR 149 (Mad) Janak S Rangwalla vs ACIT reported in 11 SOT 627 (Mum) CIT vs Gopal Purohit reported in 228 CTR 582 (Bom)…

Hero Motocorp Limited, New Delhi vs. JCIT, New Delhi

In the result appeal of the assessee in ITA No

ITA 1545/DEL/2015[2010-11]Status: DisposedITAT Delhi24 Oct 2016AY 2010-11

Bench: Sh. I. C. Sudhir & Shri Prashant Maharishihero Motocorp Limited, Jcit, 34, Basant Lok, Vasant Range-1, New Delhi Vs. Vihar, New Delhi Pan: Aaach0812J (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community Vs. New Delhi Centre, Basant Lok, Vasant Vihar, New Delhi-110057 (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. NC Sawain, CIT DR
Section 143Section 143(3)Section 144CSection 92C

…46 (Del.) (vii) DIT v. Escorts Cardiac Diseases Hospital: 300 ITR 75 (Del.) (viii) CIT V. A.K.J. Security Printers: 264 ITR 276 (Del) (ix) DIT(E) vs. Apparel Export Promotion Council: 244 ITR 734 (Del.) (x) Vesta Investment and Trading CO. (P) Limited v. CIT: 70 ITD 200 (Chd.) g) The aforesaid issue is covered in favour of the appellant by the decision of Tribunal in the assessment years 2000-01; 2001-02; 2002-03, 2006- 07, 2007-08 and 2008-09 wherein the Tribunal has held that annual payment of royalty/technical guidance fee was allowable revenue expenditure. It would be pertinent to note that he aforesaid order…

Mohan Ganeriwala: 260 ITR 417 (P&H) (11) Thirani Chemicals Ltd. v. DCIT (70 ITD 200) — Cited in 9 Judgments | BharatTax