Rajasthan State Mines and Minerals v. CIT ( Raj) 208. ITR 101 and T.N. Small

242 ITR 122High Court#20058 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 348,607 Indian tax judgments — from 2016 to 2019.

Judgments citing Rajasthan State Mines and Minerals v. CIT ( Raj) 208. ITR 101 and T.N. Small

Vedanta Ltd (Earlier Known As Sterlite Industries (India) Ltd.), Gurgaon vs. ACIT, Circle- 26(1), New Delhi

The appeal of the assessee is allowed

ITA 1454/DEL/2019[2010-11]Status: DisposedITAT Delhi09 Oct 2019AY 2010-11

Bench: Shri Amit Shukla & Shri Prashant Maharishivedanta Ltd. Vs. Acit, (Earlier Known As Sterlite Circle-26(1), Industries (India) Ltd,) New Delhi Core-6, 3Rd Floor, Scope Complex, 7, Lodhi Road, New Delhi Pan: Aaccs7101B (Appellant) (Respondent)

For Appellant: Shri Sachit Jolly, AdvFor Respondent: Smt Sulekha Verma, CIT DR

Section 234BSection 263Section 271

…rth Movers 245 ITR 428 (SC). In the following 2 verdicts delivered by the Hon’ble Rajasthan and Madras High Courts respectively, viz. Rajasthan State Mines and Minerals Vs. CIT ( Raj) 208. ITR 101 and T.N. Small industries Development Corporation Vs CIT (Mad) 242 ITR 122, it was categorically held that if only estimates are made, this amounts to a contingent liability and that if the liability, being contingent, is allowed then it would amount to allowing the apprehended losses in future from the profits of the current year which is not accepted on any principal ol law or accountancy. The same view was echoed by…

Integral Urban Co-Operative Bank Ltd., Jaipur vs. Income Tax Officer, Ward-2-1, Jaipur

In the result, the appeal is partly allowed

ITA 1075/JPR/2018[2012-13]Status: DisposedITAT Jaipur13 May 2019AY 2012-13

Bench: Us. In This Appeal, The Assessee Bank Has Taken The Following Grounds Of Appeal:-

For Appellant: Shri Dilip Shivpuri (Adv.)For Respondent: Shri K.C. Meena (ACIT)

Section 145Section 234ASection 36(1)(viia)Section 36(1)(viii)Section 37(1)

…on the following decisions as under:- • Shree Sajjan Mills Ltd. vs. CIT (SC) 156 ITR 585. • Indian Molasses Co. (P.) Ltd. vs. CIT 37 ITR 66. • Rajasthan State mines and Minerals Ltd. Vs. CIT (Raj) 208 ITR 1010. • T.N. Small Industries Dev. Corpn vs.CIT (Mad) 242 ITR 122. • CIT Vs pallaavan Transport Corporation Limited (Mad) 230 ITR 288. • CIT vs. Kattabomman Transport Corporation Ltd. (Mad) 324 ITR 71. Hence, the findings of the Assessing were confirmed. Against the said findings, the assessee is now in appeal before us. ITA No. 809/JP/2015 & 1075/JP/2018 5 Integral Urban Cooperative Bank Ltd vs. ACIT/ITO 7.…

Sunyna Kumar Gupta, Patna vs. DCIT, Circle-4, Patna

In the result, the appeal of the assessee is allowed

ITA 90/PAT/2017[2012-13]Status: DisposedITAT Patna16 Mar 2018AY 2012-13

Bench: Sh. N. K. Sainiita No. 90/Pat./2017 : Asstt. Year : 2012-13 Sunyna Kumari Gupta, Vs Deputy Commissioner Of Income Prop: M/S Sona Drug Agency, Tax, Circle-4, Road No. 1, Lohanipur, Rajendra Patna Nagar, Patna-800016 (Appellant) (Respondent) Pan No. Addpg6521C Assessee By : Sh. K. N. Prasad, Adv. Revenue By : Sh. Abhay Kumar, Sr. Dr Date Of Hearing : 13.03.2018 Date Of Pronouncement :16 .03.2018 Order This Is An Appeal By The Assessee Against The Order Dated 09.02.2017 Of Ld. Cit(A)-2, Patna.

For Appellant: Sh. K. N. Prasad, AdvFor Respondent: Sh. Abhay Kumar, Sr. DR

Section 234ASection 234BSection 234D

…ance was placed on the following case laws:  Shree Sajjan Mills Ltd. Vs CIT 156 ITR 585 (SC)  Indian Molasses Co. (P) Ltd. Vs CIT 371 ITR 66 (SC)  Rajasthan State Mines and Minerals Ltd. Vs CIT 208 ITR 1010 (Raj.)  T.N. Small Industries Dev. Corpn. Vs CIT 242 ITR 122 (Mad.) 9. Being aggrieved the assessee carried the matter to the ld. CIT(A) and furnished the written submissions which is reproduced verbatim as under: “a. That during the course of the assessment proceeding, the assessee has furnished all the material facts relating to the computation of total income even then the Assessing Officer disallowed…

ACIT Cen Cir 41, Mumbai vs. Solar Packaging P.Tld, Mumbai

ITA 3640/MUM/2012[2008-09]Status: DisposedITAT Mumbai13 Jul 2016AY 2008-09

For Appellant: NoneFor Respondent: Shri J. Saravanan-DR

Section 143Section 143(3)Section 145Section 153ASection 254(1)Section 260A

…g, that it had shown receipt of interest of Rs. 1.2 lakhs on ICD in schedule fee of the balance sheet, that income accrued on ICD of Rs. 25.22 lakhs had not been made part of it.Relying upon the decisions of Tamil Nadu Small Industries Development Corporation(242 ITR 122), State Bank of Travancore (158 ITR 102) and Kerala Financial Corporation(210ITR129),he held that interest amount of Rs. 25.22 1 3640/Mum/2012(08-09)Solarpackaging lakhs, accrued on ICD, had to be added to the income of the assessee. Invoking the provisions of section 145 (3) of the Act he held that books of accounts, maintained by the assessee…