Processing & Export Corporation Ltd (2015)(377 ITR 496)(Kar) (e) CIT v. United Breweries Ltd.

166 ITR 867High Court1987#8249 most cited
13

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2021.

Judgments citing Processing & Export Corporation Ltd (2015)(377 ITR 496)(Kar) (e) CIT v. United Breweries Ltd.

M/S GOGGA GURUSANTHAIAH AND BROTHERS ,HOSPET vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY

In the result, the appeals filed by the assessee are partly allowed as indicated above

ITA 3319/BANG/2018[2015-16]Status: DisposedITAT Bangalore28 Jul 2021AY 2015-16

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.Sivaprasad Reddy, AdvocateFor Respondent: Sri.Pradeep Kumar, CIT-DR
Section 37

…CIT vs. Sunil J Kinariwala (2003)(259 ITR 10)(SC) (d) CIT vs. Karnataka State Agricultural Produce Processing & Export Corporation Ltd (2015)(377 ITR 496)(Kar) (e) CIT vs. United Breweries Ltd (2010)(321 ITR 546)(Kar) (f) CIT vs. A Tosh & Sons (P) Ltd (1987)(166 ITR 867)(Kol) (g) Shroff Eye Centre vs. ACIT (h) Sri T Jayachandran vs. DCIT (2012-TIOL-977-HC-MAD-IT) (i) FR Sabu P Thomas vs. UOI (2015-TIOL-514-HC-Kerala-IT) (j) A F Ferguson & Co vs. ACIT (2011- TIOL-604-ITAT-Mum) (k) CIT vs. PandavapuraSahakaraSakkareKarkhane Ltd 11 ITA Nos.3317-3319/Bang/2018. M/s.Gogga Gurusanthaiah and Brothers. (1988)(174 ITR 4…

M/S GOGGA GURUSANTHAIAH AND BROTHERS ,HOSPET vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY

In the result, the appeals filed by the assessee are partly allowed as indicated above

ITA 3318/BANG/2018[2014-15]Status: DisposedITAT Bangalore28 Jul 2021AY 2014-15

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.Sivaprasad Reddy, AdvocateFor Respondent: Sri.Pradeep Kumar, CIT-DR
Section 37

…CIT vs. Sunil J Kinariwala (2003)(259 ITR 10)(SC) (d) CIT vs. Karnataka State Agricultural Produce Processing & Export Corporation Ltd (2015)(377 ITR 496)(Kar) (e) CIT vs. United Breweries Ltd (2010)(321 ITR 546)(Kar) (f) CIT vs. A Tosh & Sons (P) Ltd (1987)(166 ITR 867)(Kol) (g) Shroff Eye Centre vs. ACIT (h) Sri T Jayachandran vs. DCIT (2012-TIOL-977-HC-MAD-IT) (i) FR Sabu P Thomas vs. UOI (2015-TIOL-514-HC-Kerala-IT) (j) A F Ferguson & Co vs. ACIT (2011- TIOL-604-ITAT-Mum) (k) CIT vs. PandavapuraSahakaraSakkareKarkhane Ltd 11 ITA Nos.3317-3319/Bang/2018. M/s.Gogga Gurusanthaiah and Brothers. (1988)(174 ITR 4…

M/S GOGGA GURUSANTHAIAH AND BROTHERS ,HOSPET vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY

In the result, the appeals filed by the assessee are partly allowed as indicated above

ITA 3317/BANG/2018[2013-14]Status: DisposedITAT Bangalore28 Jul 2021AY 2013-14

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.Sivaprasad Reddy, AdvocateFor Respondent: Sri.Pradeep Kumar, CIT-DR
Section 37

…CIT vs. Sunil J Kinariwala (2003)(259 ITR 10)(SC) (d) CIT vs. Karnataka State Agricultural Produce Processing & Export Corporation Ltd (2015)(377 ITR 496)(Kar) (e) CIT vs. United Breweries Ltd (2010)(321 ITR 546)(Kar) (f) CIT vs. A Tosh & Sons (P) Ltd (1987)(166 ITR 867)(Kol) (g) Shroff Eye Centre vs. ACIT (h) Sri T Jayachandran vs. DCIT (2012-TIOL-977-HC-MAD-IT) (i) FR Sabu P Thomas vs. UOI (2015-TIOL-514-HC-Kerala-IT) (j) A F Ferguson & Co vs. ACIT (2011- TIOL-604-ITAT-Mum) (k) CIT vs. PandavapuraSahakaraSakkareKarkhane Ltd 11 ITA Nos.3317-3319/Bang/2018. M/s.Gogga Gurusanthaiah and Brothers. (1988)(174 ITR 4…

SRI. B. RUDRAGOUDA,BELLARY vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1, BELLARY

In the result, the appeal is allowed

ITA 315/BANG/2020[2016-17]Status: DisposedITAT Bangalore15 Apr 2021AY 2016-17

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri Chythanya K.K., AdvocateFor Respondent: Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru
Section 37Section 37(1)

…partment in SLP No.17347/2019 dated 3.7.2019. (7) Moti Lal Chhadami Lal Jain v. CIT [1991] 190 ITR 1 (SC) (8) CIT v. Sunil J. Kinariwala [2003] 259 ITR 10 (SC) (9) Poddar Projects Ltd. v. CIT, 28 taxmann.com 94 (Cal) (10) CIT v. A. Tosh & Sons (P) Ltd. [1987] 166 ITR 867 (Cal) (11) F.R. Sabu P Thomas v. UOI, 2015-TIOL-514-HC-Kerala-IT (12) CIT v. DTTDC Ltd. [2013] 350 ITR 1 (Del) (13) Shroff Eye Centre v. ACIT in ITA No.1560/Del/2012 (14) DCIT v. Sri T. Jayachandran [2018] 406 ITR 1 (SC) (15) A F Ferguson & Co. v. ACIT, Mumbai 2011-TIOL-604-ITAT- MUM. (16) RSM & Co. v. ACIT, 125 ITD 243 (Mum) 24. The ld. AR subm…

SRI. B. RUDRAGOUDA,BELLARY vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1, BELLARY

In the result, the appeal is allowed

ITA 314/BANG/2020[2015-16]Status: DisposedITAT Bangalore15 Apr 2021AY 2015-16

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri Chythanya K.K., AdvocateFor Respondent: Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru
Section 37Section 37(1)

…partment in SLP No.17347/2019 dated 3.7.2019. (7) Moti Lal Chhadami Lal Jain v. CIT [1991] 190 ITR 1 (SC) (8) CIT v. Sunil J. Kinariwala [2003] 259 ITR 10 (SC) (9) Poddar Projects Ltd. v. CIT, 28 taxmann.com 94 (Cal) (10) CIT v. A. Tosh & Sons (P) Ltd. [1987] 166 ITR 867 (Cal) (11) F.R. Sabu P Thomas v. UOI, 2015-TIOL-514-HC-Kerala-IT (12) CIT v. DTTDC Ltd. [2013] 350 ITR 1 (Del) (13) Shroff Eye Centre v. ACIT in ITA No.1560/Del/2012 (14) DCIT v. Sri T. Jayachandran [2018] 406 ITR 1 (SC) (15) A F Ferguson & Co. v. ACIT, Mumbai 2011-TIOL-604-ITAT- MUM. (16) RSM & Co. v. ACIT, 125 ITD 243 (Mum) 24. The ld. AR subm…

M/S. VEERABHADRAPPA SANGAPPA & COMPANY,SANDUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1, BELLARY

In the result appeal filed by assessee stands partly allowed

ITA 1054/BANG/2019[2013-14]Status: DisposedITAT Bangalore08 Dec 2020AY 2013-14

Bench: Shri. B. R. Baskaran & Smt. Beena Pillaiassessment Year : 2013–14

For Appellant: Shri Chythanya K.K, AdvocateFor Respondent: Shri Muzaffar Hussain, CIT
Section 145Section 28Section 5

…CIT vs. Sunil J Kinariwala (2003)(259 ITR 10)(SC) (d) CIT vs. Karnataka State Agricultural Produce Processing & Export Corporation Ltd (2015)(377 ITR 496)(Kar) (e) CIT vs. United Breweries Ltd (2010)(321 ITR 546)(Kar) (f) CIT vs. A Tosh & Sons (P) Ltd (1987)(166 ITR 867)(Kol) (g) Shroff Eye Centre vs. ACIT (h) Sri T Jayachandran vs. DCIT (2012-TIOL-977-HC-MAD-IT) (i) FR Sabu P Thomas vs. UOI (2015-TIOL-514-HC-Kerala-IT) (j) A F Ferguson & Co vs. ACIT (2011-TIOL-604-ITAT-Mum) (k) CIT vs. PandavapuraSahakaraSakkareKarkhane Ltd (1988)(174 ITR 475)(Kar) (l) CIT vs. PandavapuraSahakaraSakkareKarkhane Ltd (198 ITR 69…

INCOME TAX OFFICER-23(1)(2), MUMBAI vs. INDIAN CORPORATE LOAN SECURITIES TRUST 2008 SERIES 14, MUMBAI

In the result, Revenue's appeal for A

ITA 4789/MUM/2017[2010-11]Status: DisposedITAT Mumbai29 Jan 2020AY 2010-11

Bench: Shri M.Balaganesh, Am & Shri Ravish Sood, Jm The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust 2008 Matru Mandir Series 14 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block 3Rd Floor, Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat16786P (Appellant) .. (Respondent) The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust Series Iii Matru Mandir 2009 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat17440L (Appellant) .. (Respondent) The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust Series Matru Mandir 2008 Series 36 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat16925L (Appellant) .. (Respondent) आदेश / O R D E R Per Bench: These Appeals In Ita No.4789/Mum/2017, 4791/Mum/2017 & 4794/Mum/2017 For A.Y.2010-11 Arise Out Of The Order By The Ld. Commissioner Of Income Tax (Appeals)-32, Mumbai In Appeal No.Cit(A)- 32/It-604/23(1)(2)/2015-16, Cit(A)-32/It-48/19(3)(2)/2012-13 & Cit(A)-32/It-483/Ito-19(3)(4)/12-13 Respectively Dated 24/04/2017 (Ld. Cit(A) In Short) Against The Order Of Assessment Passed U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As Act) Dated 26/02/2016, 31/10/2012 Respectively By The Ld. Income Tax Officer – 23(1)(2) & 19(3)(2) Respectively, Mumbai (Hereinafter Referred To As Ld. Ao).

Section 10Section 143(3)Section 148Section 161Section 161(1)Section 61

…v. C. N. Patuck[1961] 71 ITR 713 (Bom.) (ii) Rajkot District Gopalak Co-op. Milk Producers' Union Ltd. v. CIT [1993] 204 ITR 590/[1994] 77 Taxman 346 (Guj.) (iii) CIT v. Tollygunge Club Ltd. [1977] 107 ITR 776 (SC) (iv) CIT v. A. Tosh & Sons (P.) Ltd. [1987] 166 ITR 867/30 Taxman 516 (Cal.) (v) CIT v. Raja Ram Jaiswal[1992] 195 ITR 834/[1991] 57 Taxman 225 (All.) 8.3 Per contra, the learned senior standing counsel for Revenue, relying on various judicial pronouncements, emphatically contested the assessee's claim of diversion of income by overriding title. It was submitted that the interest income is received by…

THE JUTE CORPORATION OF INDIA LTD., ,KOLKATA vs. ITO, WARD - 1(3), KOLKATA , KOLKATA

In the result, the appeal of assessee is allowed for statistical purpose

ITA 2428/KOL/2017[2011-12]Status: DisposedITAT Kolkata10 Jan 2020AY 2011-12

Bench: Shri P.M. Jagtap(Kz) & Shri A. T. Varkey, Jm]

Section 43B

…erest of Rs.21,48,33,731/- can be lawfully included in the total income of the appellant assessee company. Reliance in this connection is placed on the decision of the Hon'ble Calcutta jurisdictional High Court in CIT - vs.- A. Tosh & Sons Pvt. Limited (1987) 166 ITR 867(Cal ), which decision has already been accepted by the CBDT; and no appeal there against was ever preferred before the Hon'ble Supreme Court of India". 10. The Id. CIT(Appeals) did not find merit in the submissions made on behalf of the assessee and proceeded to confirm the addition made by the Assessing Officer on account of interest for the fol…

ACIT, CIRCLE - 2(2), KOLKATA, KOLKATA vs. M/S. WEST BENGAL STATE ELECTRICITY DISTRIBUTION CO. LTD., KOLKATA

In the result, the appeal of the Revenue is dismissed, while the appeal of the assessee is allowed

ITA 386/KOL/2018[2012-13]Status: DisposedITAT Kolkata31 Dec 2019AY 2012-13

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

Section 14ASection 32(1)(iia)

…nment Orders appear to have been issued just to take out the interest income earned by the assessee from the taxation under the Income Tax Act. The A/R has relied upon the ratio of decision of the Calcutta High Court in CIT v. A. Tosh & Sons Pvt. Ltd. (1987) 166 ITR 867 (Cal), which is found to be distinguishable as the facts of the said case are found to be distinct from the facts and circumstances of the appellant's case wherein the interest earned on fixed deposit made out of surplus left with the assessee out of the taxes and rebate raised on behalf of foreign buyers and paid to the Government was held as no…

WEST BENGAL STATE ELECTRICITY DISTRIBUTION CO. LTD.,KOLKATA vs. DCIT, CIRCLE - 2(2), KOLKATA , KOLKATA

In the result, the appeal of the Revenue is dismissed, while the appeal of the assessee is allowed

ITA 150/KOL/2018[2012-13]Status: DisposedITAT Kolkata31 Dec 2019AY 2012-13

Bench: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

Section 14ASection 32(1)(iia)

…nment Orders appear to have been issued just to take out the interest income earned by the assessee from the taxation under the Income Tax Act. The A/R has relied upon the ratio of decision of the Calcutta High Court in CIT v. A. Tosh & Sons Pvt. Ltd. (1987) 166 ITR 867 (Cal), which is found to be distinguishable as the facts of the said case are found to be distinct from the facts and circumstances of the appellant's case wherein the interest earned on fixed deposit made out of surplus left with the assessee out of the taxes and rebate raised on behalf of foreign buyers and paid to the Government was held as no…

THE PR. COMMISSIONER OF INCOME TAX (4) vs. M/S CHAMUNDI WINERY AND DISTILLERY

ITA/172/2017HC Karnataka25 Sept 2018

Bench: S.SUJATHA,VINEET KOTHARI

Section 260

…CASE LAWS ON DIVERSION BY OVERRIDING TITLES Page No. 48 CIT Vs. Champa Properties Pvt.Ltd. .212 ITR 303 [Cal] 313-316 49 Rajkot District Gopalak Co-Op Milk Producers Union Ltd 204 ITR 590 (Guj) 317-320 50 CIT Vs. A Tosh & Sons Pvt. LTd 166 ITR 867 (Cal) 321-329 Date of Judgment 25-09-2018 I.T.A.No.155/2016 and connected matters The Pr. Commissioner of Income Tax & Ors. Vs. M/s. Chamundi Winery and Distillery 99/137 Sl.No CASE LAWS ON BUSINESS LOSS/TRADING LOSS Page No 41 Badridas Daga Vs. CIT 34 ITR 10…

PR. COMMISSIONER OF INCOME TAX vs. M/S CHAMUNDI WINERY AND DISTILLERY

ITA/467/2015HC Karnataka25 Sept 2018

Bench: S.SUJATHA,VINEET KOTHARI

Section 260

…CASE LAWS ON DIVERSION BY OVERRIDING TITLES Page No. 48 CIT Vs. Champa Properties Pvt.Ltd. .212 ITR 303 [Cal] 313-316 49 Rajkot District Gopalak Co-Op Milk Producers Union Ltd 204 ITR 590 (Guj) 317-320 50 CIT Vs. A Tosh & Sons Pvt. LTd 166 ITR 867 (Cal) 321-329 Date of Judgment 25-09-2018 I.T.A.No.155/2016 and connected matters The Pr. Commissioner of Income Tax & Ors. Vs. M/s. Chamundi Winery and Distillery 99/137 Sl.No CASE LAWS ON BUSINESS LOSS/TRADING LOSS Page No 41 Badridas Daga Vs. CIT 34 ITR 10…

ITO 19(3)(2), MUMBAI vs. INDIAN CORPORATE LOAN SECURITIZATION TRUST 2008 SERIES 14I, MUMBAI

In the result, Revenue’s appeal for A

ITA 4343/MUM/2013[2009-10]Status: DisposedITAT Mumbai17 Feb 2017AY 2009-10

Bench: Shri Jason P. Boaz & Shri Sandeep Goasinindian Corporate Loan Securitisation Income Tax Officer-9(3)(2) Trust- 2008 Series 14 Mumbai C/O. Il & Fs Trust Co. Ltd. Vs. 10Th Floor, “G” Block, Bkc Bandra (E), Mumbai 400051 Pan – Aaati6786P Appellant Respondent Income Tax Officer-(23)1)(2) Indian Corporate Loan [Erstwhile Ito-19(3)(2)] Securitisation Trust- 2008 Series 14 Room No. 108, Matru Mandir Vs. C/O. Il & Fs Trust Co. Ltd. Tardeo Road, Grant Road 10Th Floor, “G” Block, Bkc Mumbai 400007 Bandra (E), Mumbai 400051 Pan – Aaati6786P Appellant Respondent

For Appellant: Shri S.E. Dastur &For Respondent: Shri P.C. Chhotaray

…parties: - (i) CIT vs. C. N. Patuck (71 ITR 713) (Bom.) (ii) Rajkot District Gopalak Co-operative Milk Producers Union Ltd. vs. CIT (204 ITR 590) at 594 (Guj.) (iii) CIT vs. Tollygunge Club Ltd. (107 ITR 776) (SC) (iv) CIT vs. A. Tosh & Sons (P.) Ltd. (Cal.) (166 ITR 867) (v) CIT vs. Raja Ram Jaiswal (All.) (195 ITR 834) 8.3 Per contra, the learned senior standing counsel for Revenue, relying on various judicial pronouncements, emphatically contested the assessee’s claim of diversion of income by overriding title. It was submitted that the interest income is received by the assessee and then the same is paid to t…

Processing & Export Corporation Ltd (2015)(377 ITR 496)(Kar) (e) CIT v. United Breweries Ltd. (166 ITR 867) — Cited in 13 Judgments | BharatTax