Perfect Thread Mills Limited v. DCIT

181 ITD 1Income Tax Appellate Tribunal2020#19600 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 348,615 Indian tax judgments — from 2020 to 2020.

Judgments citing Perfect Thread Mills Limited v. DCIT

ACIT, Chennai vs. Sri. K.Srikanth, Chennai

In the result, all the four appeals adjudicated by us in this order are partly allowed

ITA 1324/CHNY/2012[2001-02]Status: DisposedITAT Chennai19 May 2020AY 2001-02

Bench: Shri George Mathan & Shri Ramit Kochar

For Appellant: Mr. S.Sridhar, AdvFor Respondent: Dr. M.Srinivasa Rao, CIT
Section 143(3)Section 147Section 263

…, we also hold that payments made to Indian Bank by assessee to the tune of Rs. 4.25 crores was merely an application of income. Reference is drawn to decision of Third Member of ITAT , Mumbai in case of Perfect Thread Mills Limited v. DCIT reported in (2020) 181 ITD 1( Mum-trib.)(TM). We order accordingly. Thus, we summarize and conclude our decision as under: a) We uphold reopening of concluded assessment by AO invoking provisions of Section 147 of the 1961 Act. b) We hold that sale consideration of Rs. 7.50 crores was duly received for sale of shares of ‘Kris Srikanth Sports Entertainment Private Limited…

Sri K.Srikanth, Chennai vs. ACIT, Chennai

In the result, all the four appeals adjudicated by us in this order are partly allowed

ITA 1016/CHNY/2012[2001-02]Status: DisposedITAT Chennai19 May 2020AY 2001-02

Bench: Shri George Mathan & Shri Ramit Kochar

For Appellant: Mr. S.Sridhar, AdvFor Respondent: Dr. M.Srinivasa Rao, CIT
Section 143(3)Section 147Section 263

…, we also hold that payments made to Indian Bank by assessee to the tune of Rs. 4.25 crores was merely an application of income. Reference is drawn to decision of Third Member of ITAT , Mumbai in case of Perfect Thread Mills Limited v. DCIT reported in (2020) 181 ITD 1( Mum-trib.)(TM). We order accordingly. Thus, we summarize and conclude our decision as under: a) We uphold reopening of concluded assessment by AO invoking provisions of Section 147 of the 1961 Act. b) We hold that sale consideration of Rs. 7.50 crores was duly received for sale of shares of ‘Kris Srikanth Sports Entertainment Private Limited…

Sri K.Srikanth, Chennai vs. ACIT, Chennai

In the result, all the four appeals adjudicated by us in this order are partly allowed

ITA 1015/CHNY/2012[2001-02]Status: DisposedITAT Chennai19 May 2020AY 2001-02

Bench: Shri George Mathan & Shri Ramit Kochar

For Appellant: Mr. S.Sridhar, AdvFor Respondent: Dr. M.Srinivasa Rao, CIT
Section 143(3)Section 147Section 263

…, we also hold that payments made to Indian Bank by assessee to the tune of Rs. 4.25 crores was merely an application of income. Reference is drawn to decision of Third Member of ITAT , Mumbai in case of Perfect Thread Mills Limited v. DCIT reported in (2020) 181 ITD 1( Mum-trib.)(TM). We order accordingly. Thus, we summarize and conclude our decision as under: a) We uphold reopening of concluded assessment by AO invoking provisions of Section 147 of the 1961 Act. b) We hold that sale consideration of Rs. 7.50 crores was duly received for sale of shares of ‘Kris Srikanth Sports Entertainment Private Limited…

Shri K.Srikanth, Chennai vs. ACIT, Chennai

In the result, all the four appeals adjudicated by us in this order are partly allowed

ITA 307/CHNY/2010[2001-02]Status: DisposedITAT Chennai19 May 2020AY 2001-02

Bench: Shri George Mathan & Shri Ramit Kochar

For Appellant: Mr. S.Sridhar, AdvFor Respondent: Dr. M.Srinivasa Rao, CIT
Section 143(3)Section 147Section 263

…, we also hold that payments made to Indian Bank by assessee to the tune of Rs. 4.25 crores was merely an application of income. Reference is drawn to decision of Third Member of ITAT , Mumbai in case of Perfect Thread Mills Limited v. DCIT reported in (2020) 181 ITD 1( Mum-trib.)(TM). We order accordingly. Thus, we summarize and conclude our decision as under: a) We uphold reopening of concluded assessment by AO invoking provisions of Section 147 of the 1961 Act. b) We hold that sale consideration of Rs. 7.50 crores was duly received for sale of shares of ‘Kris Srikanth Sports Entertainment Private Limited…

Perfect Thread Mills Limited v. DCIT (181 ITD 1) — Cited in 4 Judgments | BharatTax