NBI Industrial Finance Co. Ltd. v. Dy. Commissioner of Income Tax

1 SOT 132Income Tax Appellate Tribunal2004#21773 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 358,232 Indian tax judgments — from 2010 to 2018.

Judgments citing NBI Industrial Finance Co. Ltd. v. Dy. Commissioner of Income Tax

Arman Financial Services Ltd., Ahmedabad vs. The ACIT., Circle-1, Ahmedabad

In the result, the appeal for the assessment year 2001-02 is also partly allowed

ITA 344/AHD/2012[2001-02]Status: DisposedITAT Ahmedabad10 Jul 2018AY 2001-02
Section 143(3)Section 2Section 269SSection 73

…of Hon. Supreme Court in the case of Sundaram Finance v/s. State of Kerala (AIR 1956 SC 1176). Your appellant also relied on the decision of the Hon. ITAT Delhi Bench E in the case of NBI Industrial Finance Co. Ltd. v/s. Dy. Commissioner of Income Tax (2004) 1 SOT 132 (Delhi). Learned CIT(A) has not even considered the decision of Hon. Delhi Tribunal and has rejected the above grounds. 1.4. Your appellant further submits that during the year, your appellant has carried out the activity of granting of Loans against Hypothecation of Assets, however the Learned Assessing Officer wrongly hold and state that there i…

Arman Lease & Finance Ltd., Ahmedabad vs. The ACIT, Circle-1, Ahmedabad

In the result, the appeal for the assessment year 2001-02 is also partly allowed

ITA 2051/AHD/2011[2002-03]Status: DisposedITAT Ahmedabad10 Jul 2018AY 2002-03
Section 143(3)Section 2Section 269SSection 73

…of Hon. Supreme Court in the case of Sundaram Finance v/s. State of Kerala (AIR 1956 SC 1176). Your appellant also relied on the decision of the Hon. ITAT Delhi Bench E in the case of NBI Industrial Finance Co. Ltd. v/s. Dy. Commissioner of Income Tax (2004) 1 SOT 132 (Delhi). Learned CIT(A) has not even considered the decision of Hon. Delhi Tribunal and has rejected the above grounds. 1.4. Your appellant further submits that during the year, your appellant has carried out the activity of granting of Loans against Hypothecation of Assets, however the Learned Assessing Officer wrongly hold and state that there i…

Commissioner of Income Tax vs. Front Line Securities Limited

Appeal is dismissed accordingly

ITA/1007/2008HC Delhi26 Aug 2010

Bench: The Assessing Officer As To Whether This Loss Was A Business Loss Or Speculative Loss. According To The Ao, The Case Of The Assessee Falls Within The Provisions Of Explanation To Section 73 Of The Income Tax Act (Hereinafter Referred To As ‘The Act’) & Treating The Said Loss To

Section 18Section 73

…cts were also shown by the learned counsel and it was stated that copies of all these are placed on record at page 26 to 78. Reliance was placed on the decision of the Delhi bench f the ITAT in the case of NBI Industrial Finance Co. Ltd. Vs. DCIT (2004) 1 SOT 132 (Del); and on the decision of Special Bench of the ITAT in the case of DCIT Vs. Venkateshwar Investment & finance Pvt. Ltd. 93 ITD 177 (Cal) (SB). It was explained that he lease rent and the interest has to be taken together for establishing the principal business of the assessee. Relevant paras of both the orders of the Tribunal (supra) wer…

NBI Industrial Finance Co. Ltd. v. Dy. Commissioner of Income Tax (1 SOT 132) — Cited in 3 Judgments | BharatTax