S.A. Builders Ltd. v. CIT

ITA 1704/DEL/2015[2012-13]Status: DisposedITAT Delhi30 Jul 2021AY 2012-13

…d & NCo. Pvt. Ltd. Vs. CIT 118 ITR 261 (SC). c. CIT Vs. Walchand & Co. 65 ITR 381 (SC). d. J. K. Woolen Mills Vs. CIT 72 ITR 612 (SC). e. Aluminium Corporation Vs. CIT 86 ITR 11 (SC). f. CIT Vs. Delhi Safe Deposit 133 ITR 756 (SC). g. SA Builders Ltd. Vs. CIT 288 ITR 1 (SC). 35 ITA. .899, 1348, 1349-D-2013, 5776-D-2014, 2083-D-2015, 1704-D-2015 46. The only reason given by the Ld. AO that sales in A. Y. 2009-10 to the sister concern are covered u/s 40A (2)(b) of the Income Tax Act. We fail to appreciate this reasoning and concern of the AO. As rightly pointed out by Ld. Counsel and duly acknowledged by Ld. CIT-…

Ajay Enterprises Pvt. Ltd., New Delhi vs. DCIT, New Delhi

Appeal is dismissed and appeal of the assessee in ITA No

Bench: Shri Amit Shukla & Shri Dr. B.R.R. Kumar

For Appellant: S/Shri Pradeep Dinodia & R.KFor Respondent: Date of hearing

ITA 5776/DEL/2014[2011-12]Status: DisposedITAT Delhi30 Jul 2021AY 2011-12

…d & NCo. Pvt. Ltd. Vs. CIT 118 ITR 261 (SC). c. CIT Vs. Walchand & Co. 65 ITR 381 (SC). d. J. K. Woolen Mills Vs. CIT 72 ITR 612 (SC). e. Aluminium Corporation Vs. CIT 86 ITR 11 (SC). f. CIT Vs. Delhi Safe Deposit 133 ITR 756 (SC). g. SA Builders Ltd. Vs. CIT 288 ITR 1 (SC). 35 ITA. .899, 1348, 1349-D-2013, 5776-D-2014, 2083-D-2015, 1704-D-2015 46. The only reason given by the Ld. AO that sales in A. Y. 2009-10 to the sister concern are covered u/s 40A (2)(b) of the Income Tax Act. We fail to appreciate this reasoning and concern of the AO. As rightly pointed out by Ld. Counsel and duly acknowledged by Ld. CIT-…

DCIT, New Delhi vs. M/S. Ajay Enterprises Pvt. Ltd., New Delhi

Appeal is dismissed and appeal of the assessee in ITA No

Bench: Shri Amit Shukla & Shri Dr. B.R.R. Kumar

For Appellant: S/Shri Pradeep Dinodia & R.KFor Respondent: Date of hearing

ITA 1349/DEL/2013[2009-10]Status: DisposedITAT Delhi30 Jul 2021AY 2009-10

…d & NCo. Pvt. Ltd. Vs. CIT 118 ITR 261 (SC). c. CIT Vs. Walchand & Co. 65 ITR 381 (SC). d. J. K. Woolen Mills Vs. CIT 72 ITR 612 (SC). e. Aluminium Corporation Vs. CIT 86 ITR 11 (SC). f. CIT Vs. Delhi Safe Deposit 133 ITR 756 (SC). g. SA Builders Ltd. Vs. CIT 288 ITR 1 (SC). 35 ITA. .899, 1348, 1349-D-2013, 5776-D-2014, 2083-D-2015, 1704-D-2015 46. The only reason given by the Ld. AO that sales in A. Y. 2009-10 to the sister concern are covered u/s 40A (2)(b) of the Income Tax Act. We fail to appreciate this reasoning and concern of the AO. As rightly pointed out by Ld. Counsel and duly acknowledged by Ld. CIT-…

DCIT, New Delhi vs. M/S Ajay Enterprises Pvt. Ltd., New Delhi

Appeal is dismissed and appeal of the assessee in ITA No

Bench: Shri Amit Shukla & Shri Dr. B.R.R. Kumar

For Appellant: S/Shri Pradeep Dinodia & R.KFor Respondent: Date of hearing

ITA 383/HYD/2018[2014-15]Status: DisposedITAT Hyderabad28 Jul 2021AY 2014-15

…d & NCo. Pvt. Ltd. Vs. CIT 118 ITR 261 (SC). c. CIT Vs. Walchand & Co. 65 ITR 381 (SC). d. J. K. Woolen Mills Vs. CIT 72 ITR 612 (SC). e. Aluminium Corporation Vs. CIT 86 ITR 11 (SC). f. CIT Vs. Delhi Safe Deposit 133 ITR 756 (SC). g. SA Builders Ltd. Vs. CIT 288 ITR 1 (SC). 35 ITA. .899, 1348, 1349-D-2013, 5776-D-2014, 2083-D-2015, 1704-D-2015 46. The only reason given by the Ld. AO that sales in A. Y. 2009-10 to the sister concern are covered u/s 40A (2)(b) of the Income Tax Act. We fail to appreciate this reasoning and concern of the AO. As rightly pointed out by Ld. Counsel and duly acknowledged by Ld. CIT-…

Asst. Commissioner of Income Tax, Central Circle-3(1), Hyderabad vs. Musaddilal Projects Limited, Hyderabad

In the result, appeal of the Revenue is allowed for statistical purposes as indicated herein above

Bench: Smt. P. Madhavi Devi & Shri A. Mohan Alankamonya.Y. 2014-15 Asst. Commissioner Of Vs. M/S. Musaddilal Projects Income Tax, Limited, Central Circle-3(1), 6-3-679, Elite Plaza, Hyderabad. Panjagutta, Hyderabad- 082. Pan: Aaecm 8691 A (Appellant) (Respondent) Assessee By Sri Venudhar Godesi, Dr Revenue By Sri Sunil Jain Date Of Hearing: 14/06/2021 Date Of Pronouncement: 28/07/2021 Order Per A. Mohan Alankamony, A.M:

Section 143(3)Section 14ASection 36(1)(iii)

…by the appellant. The investments made / loans given to sister concerns and subsidiaries are to be treated as payments made for business purpose of the appellant as per the ratio laid down by the Hon’ble Supreme Court in the case of M/s. S.A Builders vs. CIT 288 ITR 1 (SC). Further, the decision of the Hon’ble Supreme Court in the case of SA Builders is good law until it is overturned by larger bench. In the facts of the case as above the legal position, as discussed supra, it is held that no disallowance is called for and the disallowance of Rs. 2,90,95,022/- is liable to be deleted and the same is, therefore,…

DCIT Cir 3, Thane vs. Sequent Scientific Ltd, Thane

In the result, the appeal of the Revenue is dismissed

ITA 14/MUM/2017[2011-12]Status: DisposedITAT Mumbai27 Jul 2021AY 2011-12

Bench: Shri Rajesh Kumar & Shri Ravish Soodassessment Year: 2011-12

For Appellant: Shri H.P. Mahajani, A.RFor Respondent: Shri T.S. Khalsa, D.R

Section 10B

…business of the appellant. Therefore, it is contended that the transaction was in nature of commercial expediency and, hence allowable as revenue expenditure/business expenditure. The appellant has also relied upon several case laws including SA Builders Ltd 288 ITR 1 (SC) and Hero Cycles P. Ltd vs CIT, 379 ITR 347. 5.5.5 The facts of the case indicate that the sole reason for the appellant to enter Into a joint-venture with a European company was to explore the potential of European markets. The non-fund based financial commitment was part of the conditions agreed to further JV. Due to restrictions of European…

ACIT, Bangalore vs. M/S. Abb Limited, Bangalore

In the result, ground No.3 raised by the assessee is dismissed

ITA 897/BANG/2008[2003-04]Status: DisposedITAT Bangalore23 Jul 2021AY 2003-04

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranita No.790 & 791/Bang/2008 Assessment Year : 2002-03 & 2003-04 M/S. Abb Ltd., Vs. The Deputy Commissioner Of Ii Floor, East Wing, Income Tax (Ltu), Khanija Bhavan, Bengaluru. Race Course Road, Bengaluru-560 001. Pan : Aaaca 3834 B Appellant Respondent

For Appellant: Shri. Percy Pardiwala, Sr. AdvocateFor Respondent: Shri. K. V. Aravind, Standing Counsel

ITA 896/BANG/2008[2002-03]Status: DisposedITAT Bangalore23 Jul 2021AY 2002-03

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B. R. BASKARAN, ACCOUNTANT MEMBER ITA No.790 and 791/Bang/2008 Assessment Year : 2002-03 and 2003-04 M/s. ABB Ltd., Vs. The Deputy Commissioner of II Floor, East Wing, Income Tax (LTU), Khanija Bhavan, Bengaluru. Race Course Road, Bengaluru-560 001. PAN : AAACA 3834 B APPELLANT RESPONDENT ITA No.896 and 897/Bang/2008 Assessment year : 2002-03 and 2003-04 The Assistant Commissioner of Vs. M/s. ABB Ltd., Income Tax (LTU), Bengaluru-560 001. Bengaluru. PAN : AAACA 3834 B APPELLANT RESPONDENT Assessee by…

ACIT, Bangalore vs. M/S. Abb Limited, Bangalore

In the result, ground No.3 raised by the assessee is dismissed

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranita No.790 & 791/Bang/2008 Assessment Year : 2002-03 & 2003-04 M/S. Abb Ltd., Vs. The Deputy Commissioner Of Ii Floor, East Wing, Income Tax (Ltu), Khanija Bhavan, Bengaluru. Race Course Road, Bengaluru-560 001. Pan : Aaaca 3834 B Appellant Respondent

For Appellant: Shri. Percy Pardiwala, Sr. AdvocateFor Respondent: Shri. K. V. Aravind, Standing Counsel

ITA 791/BANG/2008[2003-04]Status: DisposedITAT Bangalore23 Jul 2021AY 2003-04

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B. R. BASKARAN, ACCOUNTANT MEMBER ITA No.790 and 791/Bang/2008 Assessment Year : 2002-03 and 2003-04 M/s. ABB Ltd., Vs. The Deputy Commissioner of II Floor, East Wing, Income Tax (LTU), Khanija Bhavan, Bengaluru. Race Course Road, Bengaluru-560 001. PAN : AAACA 3834 B APPELLANT RESPONDENT ITA No.896 and 897/Bang/2008 Assessment year : 2002-03 and 2003-04 The Assistant Commissioner of Vs. M/s. ABB Ltd., Income Tax (LTU), Bengaluru-560 001. Bengaluru. PAN : AAACA 3834 B APPELLANT RESPONDENT Assessee by…

M/S. Abb Limited(Formerly Asea Brown Boveri Limited), Bangalore vs. ACIT, Bangalore

In the result, ground No.3 raised by the assessee is dismissed

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranita No.790 & 791/Bang/2008 Assessment Year : 2002-03 & 2003-04 M/S. Abb Ltd., Vs. The Deputy Commissioner Of Ii Floor, East Wing, Income Tax (Ltu), Khanija Bhavan, Bengaluru. Race Course Road, Bengaluru-560 001. Pan : Aaaca 3834 B Appellant Respondent

For Appellant: Shri. Percy Pardiwala, Sr. AdvocateFor Respondent: Shri. K. V. Aravind, Standing Counsel

ITA 790/BANG/2008[2002-03]Status: DisposedITAT Bangalore23 Jul 2021AY 2002-03

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B. R. BASKARAN, ACCOUNTANT MEMBER ITA No.790 and 791/Bang/2008 Assessment Year : 2002-03 and 2003-04 M/s. ABB Ltd., Vs. The Deputy Commissioner of II Floor, East Wing, Income Tax (LTU), Khanija Bhavan, Bengaluru. Race Course Road, Bengaluru-560 001. PAN : AAACA 3834 B APPELLANT RESPONDENT ITA No.896 and 897/Bang/2008 Assessment year : 2002-03 and 2003-04 The Assistant Commissioner of Vs. M/s. ABB Ltd., Income Tax (LTU), Bengaluru-560 001. Bengaluru. PAN : AAACA 3834 B APPELLANT RESPONDENT Assessee by…

M/S. Abb Limited(Formerly Asea Brown Boveri Limited), Bangalore vs. DCIT, Bangalore

In the result, ground No.3 raised by the assessee is dismissed

Bench: Shri N.V. Vasudevan & Shri B. R. Baskaranita No.790 & 791/Bang/2008 Assessment Year : 2002-03 & 2003-04 M/S. Abb Ltd., Vs. The Deputy Commissioner Of Ii Floor, East Wing, Income Tax (Ltu), Khanija Bhavan, Bengaluru. Race Course Road, Bengaluru-560 001. Pan : Aaaca 3834 B Appellant Respondent

For Appellant: Shri. Percy Pardiwala, Sr. AdvocateFor Respondent: Shri. K. V. Aravind, Standing Counsel

ITA 3409/DEL/2018[2013-14]Status: DisposedITAT Delhi23 Jul 2021AY 2013-14

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B. R. BASKARAN, ACCOUNTANT MEMBER ITA No.790 and 791/Bang/2008 Assessment Year : 2002-03 and 2003-04 M/s. ABB Ltd., Vs. The Deputy Commissioner of II Floor, East Wing, Income Tax (LTU), Khanija Bhavan, Bengaluru. Race Course Road, Bengaluru-560 001. PAN : AAACA 3834 B APPELLANT RESPONDENT ITA No.896 and 897/Bang/2008 Assessment year : 2002-03 and 2003-04 The Assistant Commissioner of Vs. M/s. ABB Ltd., Income Tax (LTU), Bengaluru-560 001. Bengaluru. PAN : AAACA 3834 B APPELLANT RESPONDENT Assessee by…

Mason Infrastructure Pvt. Ltd., New Delhi vs. DCIT, Circle- 16(2), New Delhi

In the result, appeal of the assessee is allowed

Bench: Shri Prashant Maharishi & Shri K.Narasimha Chary

Section 143(3)

…. Interest has been earned on the funds loaned to M/S. ABW Infrastructiur and the same has been offered to tax by the assessee as income from other sources u/s.56 of the Act. Ld. AR placed reliance on the decisions reported in S.A. Builders Ltd. 158 Taxman 74/288 ITR 1 (SC), CIT v. Dalmia Cement Pvt Ltd. (2002) 254 ITR 377 (Del), and PCIT v. Reebok India Company[2018] 98 taxmann.com 413 (Delhi). 7. Per contra, it is the submission on behalf of the Revenue that the Ld. CIT(A) had taken into consideration the proximity of the transactions between OIPL and the assessee and the assessee and the M/S. ABW Infrastruct…

Smt Namita Kalani, Indore vs. ITO 1(3), Indore

In the result, both the appeals at the instance of assessee(s) in

ITA 163/IND/2020[2014-15]Status: DisposedITAT Indore05 Jul 2021AY 2014-15

Bench: Rajpal Yadav Hon'Ble & Shri Manish Boradvirtual Hearing Assessment Year:2014-15 Smt. Manisha Kalani Ito-1(3) Indore Indore बनाम/ (Appellant) (Respondent ) Vs. P.A. No.Acbpk8197P Assessment Year:2014-15 Smt. Namita Kalani Ito-1(3) Indore Indore बनाम/ (Appellant) (Respondent ) Vs. P.A. No.Abmpk6861C Appellant By Shri Manjit Sachdeva & Avinash Gaur, Ars Respondent By Shri Harshit Bari, Sr. Dr Date Of Hearing: 05.07.2021 Date Of Pronouncement: 20.07.2021 आदेश / O R D E R Per Manish Borad: The Above Captioned Appeals At The Instance Of Assessee Are Directed Against The Respective Orders Of Ld. Commissioner Of Smt. Manisha & Namita Kalani

Section 143(3)Section 44A

…of earning income from loans and advances. 13. The allowability of interest paid on borrowed capital where interest bearing funds have been advanced interest free to the sister concern was deliberated upon by the Hon’ble Supreme Court in S.A. Builders (supra) 288 ITR 1 (SC). The ratio laid down by the Hon’ble Supreme Court is as under:- “ In order to decide whether interest on funds borrowed by the assessee to give an interest free loan to a sister concern (e.g., a subsidiary of the assessee) should be allowed as a deduction under section 36(1)(iii) of the Income Tax Act, 1961, one has to enquire whether the loan…

Smt. Manisha Kalani, Indore vs. The DCIT, 1(1), Indore

In the result, both the appeals at the instance of assessee(s) in

ITA 162/IND/2020[2014-15]Status: DisposedITAT Indore05 Jul 2021AY 2014-15

Bench: Rajpal Yadav Hon'Ble & Shri Manish Boradvirtual Hearing Assessment Year:2014-15 Smt. Manisha Kalani Ito-1(3) Indore Indore बनाम/ (Appellant) (Respondent ) Vs. P.A. No.Acbpk8197P Assessment Year:2014-15 Smt. Namita Kalani Ito-1(3) Indore Indore बनाम/ (Appellant) (Respondent ) Vs. P.A. No.Abmpk6861C Appellant By Shri Manjit Sachdeva & Avinash Gaur, Ars Respondent By Shri Harshit Bari, Sr. Dr Date Of Hearing: 05.07.2021 Date Of Pronouncement: 20.07.2021 आदेश / O R D E R Per Manish Borad: The Above Captioned Appeals At The Instance Of Assessee Are Directed Against The Respective Orders Of Ld. Commissioner Of Smt. Manisha & Namita Kalani

Section 143(3)Section 44A

…of earning income from loans and advances. 13. The allowability of interest paid on borrowed capital where interest bearing funds have been advanced interest free to the sister concern was deliberated upon by the Hon’ble Supreme Court in S.A. Builders (supra) 288 ITR 1 (SC). The ratio laid down by the Hon’ble Supreme Court is as under:- “ In order to decide whether interest on funds borrowed by the assessee to give an interest free loan to a sister concern (e.g., a subsidiary of the assessee) should be allowed as a deduction under section 36(1)(iii) of the Income Tax Act, 1961, one has to enquire whether the loan…

M/S Swan Silk Private Limited vs. The Assistant Commissioner of Income Tax

In the result, we do not find any merit in the

ITA/1033/2017HC Karnataka30 Jun 2021

Bench: ALOK ARADHE,HEMANT CHANDANGOUDAR

Section 260Section 260ASection 37Section 40

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 30TH DAY OF JUNE 2021 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE HEMANT CHANDANGOUDAR I.T.A. NO.1033 OF 2017 BETWEEN: M/S. SWAN SILK PRIVATE LIMITED REP. BY ITS DIRECTOR SRI. K.S. MANJUNATH POST BOX 25210, "SWAN HOUSE" #40, 4TH CROSS, RESIDENCY ROAD BENGALURU-560025 PAN:AACCS4515R. ... APPELLANT (BY SRI. S. ANNAMALAI, ADV.,) AND: THE ASSISTANT COMMISSIONER OF INCOME-TAX CIRCLE-12(3), BMTC BUILDING 80 FEET ROAD, KORAMANGALA 6TH BLOCK BENGALURU-560095. ... RESPONDENT (BY SRI. K.V. ARAVIND, ADV.,) - - - T…

Bgr Energy Systems Ltd, Chennai vs. ACIT, Central Circle 3(1), Chennai

In the result, appeals filed by the Revenue and cross objections filed by the assessee for all assessment years are dismissed

ITA 25/CHNY/2018[2013-14]Status: DisposedITAT Chennai23 Jun 2021AY 2013-14

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 23, 24, 25 & 116/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. Bgr Energy Systems The Acit, Ltd., V. Central Circle 3(1), Guna Complex 443, Anna Salai, Chennai. Chennai – 600 118. Pan: Aabcg 2202J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1510, 1511 & 1512/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 The Acit, Smt. Sasikala Raghupathy, Central Circle 3(1), V. (L/H Of Late B.G. Chennai -34. Raghupathy) New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent) Co Nos.: 97, 98 & 99/Chny/2018 (In Ita Nos.1510, 1511 & 1512/Chny/2018) िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Smt. Sasikala Raghupathy, The Acit, (L/H Of Late B.G. V. Central Circle 3(1), Raghupathy) Chennai -34. New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent)

ITA 24/CHNY/2018[2012-13]Status: DisposedITAT Chennai23 Jun 2021AY 2012-13

…fact that the loans given were in the nature of commercial expediency. 4.4 The Learned CIT(A) had also failed to consider that disallowance cannot be made in cases where loan was given in mutual interest and commercial expediency- S.A Builders Ltd vs. CIT(A) 288 ITR 1 (SC). 5. The appellant seeks your leave to add, alter, amend, or delete any of the grounds urged, at the time hearing. 5 I.T.A. Nos.23 to 25, 116/CHNY/2018 I.T.A. Nos.1510 to 1512/Chny/2018 & CO Nos.97 to 99/Chny/2018 3. The brief facts of the case extracted from ITA No.23/Chny/2018, for the assessment year 2011-12 are that the assessee M/s. BGR…

Bgr Energy Systems Ltd, Chennai vs. ACIT, Central Circle 3(1), Chennai

In the result, appeals filed by the Revenue and cross objections filed by the assessee for all assessment years are dismissed

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 23, 24, 25 & 116/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. Bgr Energy Systems The Acit, Ltd., V. Central Circle 3(1), Guna Complex 443, Anna Salai, Chennai. Chennai – 600 118. Pan: Aabcg 2202J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1510, 1511 & 1512/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 The Acit, Smt. Sasikala Raghupathy, Central Circle 3(1), V. (L/H Of Late B.G. Chennai -34. Raghupathy) New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent) Co Nos.: 97, 98 & 99/Chny/2018 (In Ita Nos.1510, 1511 & 1512/Chny/2018) िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Smt. Sasikala Raghupathy, The Acit, (L/H Of Late B.G. V. Central Circle 3(1), Raghupathy) Chennai -34. New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent)

ITA 23/CHNY/2018[2011-12]Status: DisposedITAT Chennai23 Jun 2021AY 2011-12

…fact that the loans given were in the nature of commercial expediency. 4.4 The Learned CIT(A) had also failed to consider that disallowance cannot be made in cases where loan was given in mutual interest and commercial expediency- S.A Builders Ltd vs. CIT(A) 288 ITR 1 (SC). 5. The appellant seeks your leave to add, alter, amend, or delete any of the grounds urged, at the time hearing. 5 I.T.A. Nos.23 to 25, 116/CHNY/2018 I.T.A. Nos.1510 to 1512/Chny/2018 & CO Nos.97 to 99/Chny/2018 3. The brief facts of the case extracted from ITA No.23/Chny/2018, for the assessment year 2011-12 are that the assessee M/s. BGR…

Bgr Energy Systems Ltd, Chennai vs. ACIT, Central Circle 3(1), Chennai

In the result, appeals filed by the Revenue and cross objections filed by the assessee for all assessment years are dismissed

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 23, 24, 25 & 116/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. Bgr Energy Systems The Acit, Ltd., V. Central Circle 3(1), Guna Complex 443, Anna Salai, Chennai. Chennai – 600 118. Pan: Aabcg 2202J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1510, 1511 & 1512/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 The Acit, Smt. Sasikala Raghupathy, Central Circle 3(1), V. (L/H Of Late B.G. Chennai -34. Raghupathy) New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent) Co Nos.: 97, 98 & 99/Chny/2018 (In Ita Nos.1510, 1511 & 1512/Chny/2018) िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Smt. Sasikala Raghupathy, The Acit, (L/H Of Late B.G. V. Central Circle 3(1), Raghupathy) Chennai -34. New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent)

ITA 1512/CHNY/2018[2013-14]Status: PendingITAT Chennai23 Jun 2021AY 2013-14

…fact that the loans given were in the nature of commercial expediency. 4.4 The Learned CIT(A) had also failed to consider that disallowance cannot be made in cases where loan was given in mutual interest and commercial expediency- S.A Builders Ltd vs. CIT(A) 288 ITR 1 (SC). 5. The appellant seeks your leave to add, alter, amend, or delete any of the grounds urged, at the time hearing. 5 I.T.A. Nos.23 to 25, 116/CHNY/2018 I.T.A. Nos.1510 to 1512/Chny/2018 & CO Nos.97 to 99/Chny/2018 3. The brief facts of the case extracted from ITA No.23/Chny/2018, for the assessment year 2011-12 are that the assessee M/s. BGR…

ACIT Central Circle 3 (1), Chennai vs. Smt Sasikala Raghupathy L/H of Late B G Raghupathy, Chennai

In the result, appeals filed by the Revenue and cross objections filed by the assessee for all assessment years are dismissed

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 23, 24, 25 & 116/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. Bgr Energy Systems The Acit, Ltd., V. Central Circle 3(1), Guna Complex 443, Anna Salai, Chennai. Chennai – 600 118. Pan: Aabcg 2202J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1510, 1511 & 1512/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 The Acit, Smt. Sasikala Raghupathy, Central Circle 3(1), V. (L/H Of Late B.G. Chennai -34. Raghupathy) New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent) Co Nos.: 97, 98 & 99/Chny/2018 (In Ita Nos.1510, 1511 & 1512/Chny/2018) िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Smt. Sasikala Raghupathy, The Acit, (L/H Of Late B.G. V. Central Circle 3(1), Raghupathy) Chennai -34. New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent)

ITA 1511/CHNY/2018[2012-13]Status: DisposedITAT Chennai23 Jun 2021AY 2012-13

…fact that the loans given were in the nature of commercial expediency. 4.4 The Learned CIT(A) had also failed to consider that disallowance cannot be made in cases where loan was given in mutual interest and commercial expediency- S.A Builders Ltd vs. CIT(A) 288 ITR 1 (SC). 5. The appellant seeks your leave to add, alter, amend, or delete any of the grounds urged, at the time hearing. 5 I.T.A. Nos.23 to 25, 116/CHNY/2018 I.T.A. Nos.1510 to 1512/Chny/2018 & CO Nos.97 to 99/Chny/2018 3. The brief facts of the case extracted from ITA No.23/Chny/2018, for the assessment year 2011-12 are that the assessee M/s. BGR…

ACIT Central Circle 3 (1), Chennai vs. Smt Sasikala Raghupathy L/H of Late B G Raghupathy, Chennai

In the result, appeals filed by the Revenue and cross objections filed by the assessee for all assessment years are dismissed

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 23, 24, 25 & 116/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. Bgr Energy Systems The Acit, Ltd., V. Central Circle 3(1), Guna Complex 443, Anna Salai, Chennai. Chennai – 600 118. Pan: Aabcg 2202J (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1510, 1511 & 1512/Chny/2018 िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 The Acit, Smt. Sasikala Raghupathy, Central Circle 3(1), V. (L/H Of Late B.G. Chennai -34. Raghupathy) New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent) Co Nos.: 97, 98 & 99/Chny/2018 (In Ita Nos.1510, 1511 & 1512/Chny/2018) िनधा"रण वष" / Assessment Years: 2011-12, 2012-13 & 2013-14 Smt. Sasikala Raghupathy, The Acit, (L/H Of Late B.G. V. Central Circle 3(1), Raghupathy) Chennai -34. New No.60, Old No.100, Iv Street, Abiramapuram, Chennai – 600 034. Pan: Aafpr 5779J (अपीलाथ"/Appellant) (""यथ"/Respondent)