Narasu’s Spinning Mills v. ACIT

157 ITD 512Income Tax Appellate Tribunal2016#22806 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2018.

Judgments citing Narasu’s Spinning Mills v. ACIT

M/S Maatha Financiers, Palakol vs. The ITO, Palakol

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

ITA 146/VIZ/2015[207-08]Status: DisposedITAT Visakhapatnam07 Dec 2018

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Blem/S. Maatha Financiers, Vs. Ito, Ward-1, 13-5-42, Canal Road, Palakol. Palakol, W.G. District. Pan No. Aalfm 2319 K (Appellant) (Respondent)

For Appellant: Shri D.L. Narasimha Rao, AdvFor Respondent: Smt. Suman Malik, Sr.DR
Section 148Section 194ASection 40

…e has not deducted TDS and subsequently payees filed Form 15-H i.e. before due date for depositing the amount in the government account. For that, he relied on the decision of the ITAT, Chennai ‘A’ Bench in the case of Narasu’s Spinning Mills Vs. ACIT [(2016) 157 ITD 512 (Chennai)]. 5. On the other hand, ld. Departmental Representative supported the orders passed by the authorities below. 6. We have heard both the sides, perused the material available on record and orders of the authorities below. 7. In this case, the assessee has made certain interest payments to the parties, amounting to Rs. 15,60,164/-. The ca…

M/S Sundaram Infotech Solutions Limited (Merged With Sundaram Finance Limited), Chennai vs. ACIT Corporate Circle 6 (2), Chennai

In the result, the assessee’s appeal is allowed

ITA 1227/CHNY/2018[2007-08]Status: DisposedITAT Chennai25 Sept 2018AY 2007-08

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकरअपीलसं/.I.T.A. No. 1227/Chny/2018 "नधा"रणवष"/Assessment Year : 2007-08

For Appellant: Shri. Saroj Kumar Parida, AdvocateFor Respondent: Shri G.D. Jayanthi Angayarkanni, JCIT
Section 36(1)(v)Section 40A(7)

…he Supreme Court has held that merely because the payments were made directly to the LIC the company could not be denied the benefit under section 36(1)(v), and ought to have followed the decision of the Chennai ITAT in Narasu’s Spinning Mills vs. ACIT (2016) 157 ITD 512 wherein the ITAT held “ Where assessee paid amount towards Employees Group Gratuity Fund to LIC and application made by assessee was still pending before Commissioner for :- 3 -: approval and assessee had no control over fund created by LIC for benefit of its employees, disallowance u/s. 36(1)(v) was not be made.” and the assessee also relied…

DCIT (TDS), Gurgaon vs. The Sonipat Central Co-Op Bank Ltd., Sonepat

In the result, the appeal filed by the Revenue stands dismissed

ITA 706/DEL/2015[2011-12 (F.Y. 2010-11)]Status: DisposedITAT Delhi02 Aug 2016

Bench: Shri H.S. Sidhua.Y. : 2011-12

For Appellant: Sh. Gautam Jain, CAFor Respondent: Sh. A Srinivasa Rao, Sr. DR
Section 1Section 133ASection 194ASection 197ASection 201(1)Section 206A

…requested that by following the same, the Appeal of the Revenue may be dismissed. - 145 ITD 370 (Mum) Karwat Steel Traders vs. ITO - 46 SOT 71 (Mum) Vipin P. Mehta vs. ITO - 66 SOT (Del) Vijaya Bank vs. ITO - 152 ITD 497 (Bang.) Capital Pharma vs. ITO - 157 ITD 512 (Chennai) Narasu’s Spinning Mills vs. ACIT - CIT vs. State Bank of Patiala reported in 277 ITR 315 (P&HC). 7. I have heard both the parties and perused the records available with us, especially the order of the Ld. First Appellate Authority. After perusing the impugned order of the Ld. CIT(A), I find that Ld. CIT(A) has 5 elaborately discus…