S.P. Shrivastava & Sons. v. CIT

240 ITR 552High Court1990#12789 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2019 to 2025.

Sections most often in play

Section 143(3)Section 147Section 112Section 132Section 143(2)Section 144Section 148Section 15

Judgments citing S.P. Shrivastava & Sons. v. CIT

V RAMAKRISHNAN,CHENNAI vs. DCIT CENTRAL CIRCLE III(4) , CHENNAI

In the result, the appeal for the A

ITA 744/CHNY/2005[2000-01]Status: DisposedITAT Chennai26 Dec 2025AY 2000-01

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

For Appellant: Shri. N. Arjun Raj, AdvocateFor Respondent: Shri. Bipin. C.N., C.I.T
Section 132Section 148Section 15Section 158BSection 17(1)(iv)

…ther entity is accordingly mis-directed and not sustainable in law. 49. The distinction between capital loss and loss of capital is brought out by the jurisdictional High Court in the case of Commissioner of Income-tax v. R.Chidambaranatha Mudaliar, reported 240 ITR 552, wherein the Madras High Court on the consideration of non-recoverability of the deposit due to bad performance of the company in which said deposit was maintained by the assessee, is held to be loss of capital and not a capital loss. Applying the subtle distinction brought out by the Jurisdictional High Court, the ownership over the asset / shar…

V RAMAKRISHNAN,CHENNAI vs. DCIT CENTRAL CIRCLE III(4), CHENNAI

In the result, the appeal for the A

ITA 2197/CHNY/2005[1999-2000]Status: DisposedITAT Chennai26 Dec 2025AY 1999-2000

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

For Appellant: Shri. N. Arjun Raj, AdvocateFor Respondent: Shri. Bipin. C.N., C.I.T
Section 132Section 148Section 15Section 158BSection 17(1)(iv)

…ther entity is accordingly mis-directed and not sustainable in law. 49. The distinction between capital loss and loss of capital is brought out by the jurisdictional High Court in the case of Commissioner of Income-tax v. R.Chidambaranatha Mudaliar, reported 240 ITR 552, wherein the Madras High Court on the consideration of non-recoverability of the deposit due to bad performance of the company in which said deposit was maintained by the assessee, is held to be loss of capital and not a capital loss. Applying the subtle distinction brought out by the Jurisdictional High Court, the ownership over the asset / shar…

ACIT CORPORATE CIRCLE 5(2), CHENNAI vs. RUDRADEV AVIATION PVT. LTD., CHENNAI

ITA 2100/CHNY/2017[2012-13]Status: DisposedITAT Chennai31 Mar 2022AY 2012-13

Bench: Shri Mahavir Singhand Dr. M.L. Meenaआयकर अपील सं./Ita No.:2100/Chny/2017 िनधा"रण वष" /Assessment Years: 2012 – 13 The Acit, M/S. Rudradev Aviation Pvt. Corporate Circle – 5(2), V. Ltd., Chennai - 34. Rr Tower Iii, Thiru Vi Ka Indl. Estate, Guindy, Chennai – 600 032. Pan: Aadcr 3575R (अपीलाथ"/Appellant) (""यथ"/Respondent) & C.O. No.: 152/Chny/2017 (In I.T.A. No. 2100/Chny/2017 िनधा"रण वष" /Assessment Year: 2012 – 13 M/S. Rudradev Aviation Pvt. The Acit, Ltd., V. Corporate Circle – 5(2), Rr Tower Iii, Chennai - 34. Thiru Vi Ka Indl. Estate, Guindy, Chennai – 600 032. Pan: Aadcr 3575R राज" की ओर से /Revenue By : Shri Guru Bashyam, Cit "नधा"रती क" ओर से/Assessee By : Shri R. Venkatesh, Ca सुनवाई क" तार"ख/Date Of Hearing : 14.03.2022 घोषणा क" तार"ख/Date Of Pronouncement : 31.03.2022

For Appellant: Shri R. Venkatesh, CAFor Respondent: Shri Guru Bashyam, CIT
Section 143(3)Section 28Section 37(1)

…against the taxable income under any other head i.e., be it capital gains or under any other head of income. The ld.CIT-DR relied on the decisions of Hon’ble High Court of Madras in the case of Commissioner of Income-Tax vs R. Chidambaranatha Mudaliar, (1990) 240 ITR 552 (Mad), Hon’ble Apex Court in the case of Vania Silk Mills (P) Ltd., (1991) 191 ITR 647(SC) and Hon’ble Bombay High Court in the case of CIT vs Sterling Investment Corporation, 123 ITR 441 (Bom). He also relied on the judgments cited by the AO in the assessment order of Hon’ble Madras High Court in the case of Kwality Fun Foods and Restaurants (P)…

STANDARD INDUSTRIES LTD,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX-3, MUMBAI

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

ITA 1886/MUM/2018[2013-14]Status: DisposedITAT Mumbai20 Feb 2020AY 2013-14

Bench: Shri Shamim Yahya, Am & Shri Ram Lal Negi, Jm आयकर अपील सं/ I.T.A. No.1886/Mum/2018 (निर्धारण वर्ा / Assessment Year:2013-14) Standard Industries Ltd. बिधम/ Pcit-3 59, The Arcade, 1St Floor, 612, Aayakar Bhavan, M. K. Vs. World Trade Centre, Cuffe Road, Mumbai-400020. Parade Colaba, Mumbai- 400005. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabcs8888C (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Mr. K. K. Ved Revenue By: Shri Ajay Kumar (Dr) सुनवाई की तारीख / Date Of Hearing: 17/12/2019 घोषणा की तारीख /Date Of Pronouncement: 20/02/2020 आदेश / O R D E R Per Shamim Yahya, Am: This Appeal Filed By The Assessee Is Directed Against The Order Of The Principal Commissioner Of Income Tax-3, Mumbai [Hereinafter Referred To As The “Pcit”] Dated 15/01/2018 & Pertains To A.Y.2013-14. 2. The Grounds Of Appeal Are As Under: - “The Appellant Objects To The Order Dated 15 January 2018 (Received On 25 January 2018) Passed By The Learned Principal Commissioner Of Income Tax -3 (Referred To As Cit), Mumbai Under Section 263 Of The Income-Tax Act. 1961 ('The Act') On The Following Grounds: I. Validity Of Order Under Section 263

For Appellant: Mr. K. K. VedFor Respondent: Shri Ajay Kumar (DR)
Section 143(3)Section 263Section 37

…mbaramnatha Mudaliar Madras - 240 ITR 552 Wherein the concept of Long Term Capital Loss on account of alienation of asset and Loss of Capital is discussed. In the order of the Hon'ble High Court Madras, in the case of CIT Vs Chidambaramnatha Mudaliar Madras - 240 ITR 552, it was held as under: The Tribunal was not correct in ho/ding that the assessee had incurred long term capital loss when the assessee wrote off his unrealized deposit from a wound up company and that the assessee suffered a loss under the head Capital Gains' to enable him to carry forward the same to the subsequent years' 6.2 In the present cas…

ACIT 16(1), MUMBAI vs. TIPS INDUSTRIES LTD, MUMBAI

In the result, the appeal filed by revenue in ITA no

ITA 6291/MUM/2017[2012-13]Status: DisposedITAT Mumbai03 May 2019AY 2012-13

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…आयकर अपीऱीय अधिकरण “E” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपीऱ सं./I.T.A. No.6194 to 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 and 2013-14) बिाम/ M/s. Tips Industries Ltd., ACIT 11(1) 601, Durga Chambers, Room No. 439, 6t h Floor, Linking Road, Aayakar Bhawan v. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ PAN : AAACT5284A आयकर अपीऱ सं./ I.T.A. No. 6291/Mum/2017 (नििाारण वर्ा / Assessment Year: 2012-13) बिाम/ ACIT 16(1) M/s. Tips Industries Lt…

TIPS INDUSTRIES LTD,MUMBAI vs. ACIT 16(1), MUMBAI

In the result, the appeal filed by revenue in ITA no

ITA 6196/MUM/2017[2013-14]Status: DisposedITAT Mumbai03 May 2019AY 2013-14

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…आयकर अपीऱीय अधिकरण “E” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपीऱ सं./I.T.A. No.6194 to 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 and 2013-14) बिाम/ M/s. Tips Industries Ltd., ACIT 11(1) 601, Durga Chambers, Room No. 439, 6t h Floor, Linking Road, Aayakar Bhawan v. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ PAN : AAACT5284A आयकर अपीऱ सं./ I.T.A. No. 6291/Mum/2017 (नििाारण वर्ा / Assessment Year: 2012-13) बिाम/ ACIT 16(1) M/s. Tips Industries Lt…

TIPS INDUSTRIES LTD,MUMBAI vs. ACIT 16(1), MUMBAI

In the result, the appeal filed by revenue in ITA no

ITA 6195/MUM/2017[2012-13]Status: DisposedITAT Mumbai03 May 2019AY 2012-13

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…आयकर अपीऱीय अधिकरण “E” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपीऱ सं./I.T.A. No.6194 to 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 and 2013-14) बिाम/ M/s. Tips Industries Ltd., ACIT 11(1) 601, Durga Chambers, Room No. 439, 6t h Floor, Linking Road, Aayakar Bhawan v. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ PAN : AAACT5284A आयकर अपीऱ सं./ I.T.A. No. 6291/Mum/2017 (नििाारण वर्ा / Assessment Year: 2012-13) बिाम/ ACIT 16(1) M/s. Tips Industries Lt…

TIPS INDUSTRIES LTD,MUMBAI vs. ACIT 11(1), MUMBAI

In the result, the appeal filed by revenue in ITA no

ITA 6194/MUM/2017[2011-12]Status: DisposedITAT Mumbai03 May 2019AY 2011-12

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6194 To 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 & 2013-14) बिाम/ M/S. Tips Industries Ltd., Acit 11(1) 601, Durga Chambers, Room No. 439, 6T H Floor, Linking Road, Aayakar Bhawan V. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ Pan : Aaact5284A

For Appellant: Shri. Deepak TralshawalaFor Respondent: Shri. O.P Meena (DR)
Section 143(3)Section 36(1)(iii)

…आयकर अपीऱीय अधिकरण “E” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपीऱ सं./I.T.A. No.6194 to 6196/Mum/2017 (नििाारण वर्ा / Assessment Year: 2011-12, 2012-13 and 2013-14) बिाम/ M/s. Tips Industries Ltd., ACIT 11(1) 601, Durga Chambers, Room No. 439, 6t h Floor, Linking Road, Aayakar Bhawan v. Khar West, M.K.Marg Mumbai 400054 Mumbai-400020 स्थायी ऱेखा सं./ PAN : AAACT5284A आयकर अपीऱ सं./ I.T.A. No. 6291/Mum/2017 (नििाारण वर्ा / Assessment Year: 2012-13) बिाम/ ACIT 16(1) M/s. Tips Industries Lt…