Quality Industries v. JCIT

161 ITD 217Income Tax Appellate Tribunal2016#10907 most cited

What is Quality Industries v. JCIT authority for?

Interest on partners' capital and remuneration to partners are appropriations of profit, not expenses, and therefore not subject to Section 14A disallowance.

10

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2018 to 2022.

Also referred to as

Quality Industries vs JCIT · interest on partner's capital · remuneration to partners · appropriation of profit · not an expense · section 14A · ITAT Pune

Also reported as

73 Taxmann.com 363

Judgments citing Quality Industries v. JCIT

Nikas Corporation, Pune vs. Assistant Commissioner of Income-Tax, Circle -7, Pune

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

ITA 446/PUN/2020[2016-17]Status: DisposedITAT Pune29 Nov 2022AY 2016-17
For Respondent: Shri Ramnath P. Murkunde
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER आयकर अपील सं. / ITA No.446/PUN/2020 िनधा"रण वष" / Assessment Year: 2016-17 Nikas Corporation, Vs. ACIT, Circle-7, Pune. 16 B1, Sarosh Bhavan, Dr. Ambedkar Road, Camp, Pune- 411001. PAN : AAAFN9736E Appellant Respondent Assessee by Shri Vishal D. Shah : Revenue by : Shri Ramnath P. Murkunde Date of hearing : 21.11.2022 Date of pronouncement : 29.11.2022 आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed against the order of…

Khedut Cold Storage Co., Rajkot vs. The PCIT, Rajkot-1, Rajkot

In the result, the appeal filed by the assessee is dismissed

ITA 91/RJT/2022[2017-18]Status: DisposedITAT Rajkot21 Sept 2022AY 2017-18

Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकर अपील सं./Ita No. 91/Rjt/2022 िनधा"रण वष"/Asstt. Years: 2017-2018 M/S. Khedut Cold Storage Co., The Principal Commissioner Of Head Off At Officer No11, Vs. Income Tax, Jitendra Complex, Rajkot-1, Kalwa Chock, Rajkot. Junagadh-362001. Pan: Aanfk8513F

For Appellant: Shri Mehul Ranpura, A.RFor Respondent: Shri Sanjeev Jain, CIT.D.R
Section 142(1)Section 143(3)Section 263

…आयकर अपीलीय अिधकरण, राजकोट "ायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER आयकर अपील सं./ITA No. 91/Rjt/2022 िनधा"रण वष"/Asstt. Years: 2017-2018 M/s. Khedut Cold Storage Co., The Principal Commissioner of Head off at officer No11, Vs. Income Tax, Jitendra Complex, Rajkot-1, Kalwa Chock, Rajkot. Junagadh-362001. PAN: AANFK8513F (Applicant) (Respondent) Assessee by : Shri Mehul Ranpura, A.R Revenue by : Shri Sanjeev Jain, CIT.D.R सुनवाई क" तारीख/Date of Hearing : 01/07/2022 घोषणा क" तारीख /Date of Pronounce…

Allen Career Institute, Kota vs. JCIT, Jaipur

In the result, the Grounds No

ITA 54/JPR/2017[2012-12]Status: DisposedITAT Jaipur04 Aug 2022AY 2012-12
For Appellant: Shri Mahendra Gargieya, Advocate &For Respondent: Shri A.S. Nehra, Addl. CIT
Section 143(3)Section 234ASection 244ASection 36Section 36(1)(iii)Section 37(1)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, ‘’A” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 54/JP/2017 fu/kZkj.k o"kZ@Assessment Year : 2012-13 cuke Allen Career Institute The JCIT CP-6, Indra Nagar Vs. Range-2 Kotas Kota LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAEFA 3972 B vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Mahendra Gargieya, Advocate & Shri Dewang Gargieya, Advocate jktLo…

Allen Career Institute, Jaipur vs. JCIT, Kota

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

ITA 620/JPR/2016[2011-12]Status: DisposedITAT Jaipur04 Aug 2022AY 2011-12
For Appellant: Shri Mahendra Gargieya, Advocate &For Respondent: Shri A.S. Nehra, Addl. CIT
Section 143(3)Section 36Section 36(1)(iii)Section 37(1)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, ‘’A” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 620/JP/2016 fu/kZkj.k o"kZ@Assessment Year : 2011-12 cuke Allen Career Institute The JCIT CP-6, Indra Nagar Vs. Range-2 Kotas Kota LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAEFA 3972 B vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Mahendra Gargieya, Advocate & Shri Dewang Gargieya, Advocate jktLo…

Allen Career Institute, Jaipur vs. JCIT, Kota

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

ITA 246/JPR/2015[2010-11]Status: DisposedITAT Jaipur04 Aug 2022AY 2010-11
For Appellant: Shri Mahendra Gargieya, Advocate &For Respondent: Shri A.S. Nehra, Addl. CIT
Section 143(3)Section 234ASection 244ASection 36(1)(iii)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, ‘’A” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 246/JP/2015 fu/kZkj.k o"kZ@Assessment Year : 2010-11 cuke Allen Career Institute The JCIT CP-6, Indra Nagar Vs. Range-2 Kotas Kota LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAEFA 3972 B vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Mahendra Gargieya, Advocate & Shri Dewang Gargieya, Advocate jktLo…

Bhavani Cotton Ginning & Pressing Factory, Ahmedabad vs. ITO, Ward-3(2)(5), Ahmedabad

In the result appeal of the assessee is hereby partly allowed

ITA 1131/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad29 Jul 2022AY 2014-15

Bench: Ms Suchitra Kamble & Shri Waseem Ahmedआयकर अपील सं./Ita Nos. 1130-1131/Ahd/2018 िनधा"रण वष"/Asstt. Years: (2013-2014 & 2014-15) Bhavani Cotton Ginning & Pressing I.T.O., Factory, Vs. Ward-3(2)(5), Plot No.100/15, Gidc, Ahmedabad. Ranpur Road, Dhandhuka, Ahmedabad.

For Appellant: Shri S.N. Divitia, A.RFor Respondent: Shri Abhimanyusingh Yadav, Sr. D.R
Section 145(3)Section 250

…r an assessee can claim depreciation for use of assets during the course of business from estimation made by the Assessing Officer? 11.4 With respect to question No. 1, we note that the ITAT Pune Benches in the case of Quality Industries vs. JCIT Reported in 161 ITD 217 has held that interest on partner’s capital and remuneration to the partners is not an expenses as the same is an appropriation of profit only. The relevant observation of the tribunal reads as under: 10. We have carefully considered the rival submissions. The pre-dominant question that arises for our consideration is whether payment of interest…

Bhavani Cotton Ginning & Pressing Factory, Ahmedabad vs. ITO, Ward-3(2)(5), Ahmedabad

In the result appeal of the assessee is hereby partly allowed

ITA 1130/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad29 Jul 2022AY 2013-14

Bench: Ms Suchitra Kamble & Shri Waseem Ahmedआयकर अपील सं./Ita Nos. 1130-1131/Ahd/2018 िनधा"रण वष"/Asstt. Years: (2013-2014 & 2014-15) Bhavani Cotton Ginning & Pressing I.T.O., Factory, Vs. Ward-3(2)(5), Plot No.100/15, Gidc, Ahmedabad. Ranpur Road, Dhandhuka, Ahmedabad.

For Appellant: Shri S.N. Divitia, A.RFor Respondent: Shri Abhimanyusingh Yadav, Sr. D.R
Section 145(3)Section 250

…r an assessee can claim depreciation for use of assets during the course of business from estimation made by the Assessing Officer? 11.4 With respect to question No. 1, we note that the ITAT Pune Benches in the case of Quality Industries vs. JCIT Reported in 161 ITD 217 has held that interest on partner’s capital and remuneration to the partners is not an expenses as the same is an appropriation of profit only. The relevant observation of the tribunal reads as under: 10. We have carefully considered the rival submissions. The pre-dominant question that arises for our consideration is whether payment of interest…

M/S. Sankalp, Bhubaneswar vs. DCIT, Circle-4(1), Bhubaneswar

In the result, appeals of the assessee are partly allowed

ITA 415/CTK/2018[2015-16]Status: DisposedITAT Cuttack19 Oct 2020AY 2015-16

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2015-16 Assessment Year : 2016-17

For Appellant: Shri Bibek Mohanty, ARFor Respondent: Shri Subhendu Dutta, DR
Section 14(2)Section 143(3)Section 14ASection 14A(2)

…bmitted that no capital was introduced for investment purposes and, therefore, no disallowance should have been made in the case of the assessee. 6. Ld A.R of the assessee further relied on the decision of ITAT Pune in the case of Quality Industries vs JCIT, 161 ITD 217(Pune) to submit that the issue is covered in favour of the assessee. He also submitted that the decision of the ITAT Pune in the case of Quality Industries (supra) has been followed by ITAT Jaipur Bench in the case of M/s. ASK Partners vs ACIT in ITGA No.187/JP/2017 for A.Y. 2013-14 order dated 31.12.2018 holding that payment of interest to the p…

Assistant Commissioner of Income Tax, Satara vs. M/S. Hindustan Feeds Mfg. Co., Satara

In the result, the appeal of Revenue is dismissed

ITA 507/PUN/2017[2012-13]Status: DisposedITAT Pune12 Sept 2019AY 2012-13

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am

For Appellant: Shri D.G. KurundwadkarFor Respondent: Shri Sudhendu Das
Section 143(3)Section 14ASection 36(1)(iii)

…आयकर अपील"य अ"धकरण] पुणे "यायपीठ “बी” पुणे म" IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM आयकर अपील सं. / ITA No.507/PUN/2017 "नधा"रण वष" / Assessment year : 2012-13 The Asst. Commissioner of Income Tax, ………. अपीलाथ" / Satara Circle, Satara. Appellant. बनाम v/s M/s. Hindustan Feeds Mfg. Co., ………. ""यथ" / L-4, Additional MIDC, Respondent Satara – 415004. PAN : AABFH6485P. Assessee by : Shri D.G. Kurundwadkar Revenue by : Shri Sudhendu Das. सुनवाई क" तार"ख / घोषणा क" तार"ख / Date of Hearing : 02.08.2019 Date of Pronouncement: 12.09.2019…

Ask Partners, Ajmer vs. ACIT, Ajmer

In the result, appeal of the assessee is partly allowed

ITA 187/JPR/2017[2013-14]Status: DisposedITAT Jaipur31 Dec 2018AY 2013-14
For Appellant: Shri Subhash Porwal (CA)For Respondent: Shri J. C. Kulhari (JCIT)
Section 10Section 14ASection 40

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES-A, JAIPUR Jh fot; iky jko] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 187/JP/2017 fu/kZkj.k o"kZ@Assessment Year :2013-14 cuke M/s ASK Partners, ACIT, Vs. C/o Sunil Porwal & Co. Circle-2, Radhey Prem, 19A, Sobhag Club, Ajmer Civil Lines, Ajmer (Raj.) LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAQFA7969J vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Subhash Porwal (CA) jktLo dh vksj ls@ Rev…

Quality Industries v. JCIT (161 ITD 217) — Cited in 10 Judgments | BharatTax