Sadhna Nitro Chem Ltd. v. ACIT

368 ITR 505High Court#20628 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2018 to 2021.

Judgments citing Sadhna Nitro Chem Ltd. v. ACIT

M/S Jai Shardha Rice Mills, Jalandhar vs. Income Tax Officer, Nakodar

ITA 502/ASR/2017[2013-14]Status: DisposedITAT Amritsar24 Dec 2021AY 2013-14

Bench: Sh. Ravish Sood & Dr. M. L. Meena

For Appellant: Shri Ashray Sarna, CAFor Respondent: Smt Ratinder Kaur, DR
Section 143(1)Section 143(2)Section 143(3)Section 36

…herefore, no disallowance to the said extent qua the loan/advances given by the assessee to M/s. Khaira Trading company was called for. Our aforesaid view is supported by the judgments of the Hon’ble High Court of Bombay in the case of HDFC Bank Ltd vs. ACIT, 368 ITR 505 (Bom) and that in the case of Reliance Utilities and Power Ltd. (2009) 313 ITR 340 (Bom). In its aforesaid orders, the Hon’ble High Court had held that where interest free funds are available with the assessee, then, a presumption would arise that the investments made were from its interest free funds. In the backdrop of the facts involved in the…

M/S Jai Sharda Rice Mills, Jalandhar vs. Income Tax Officer, Nakodar

ITA 501/ASR/2017[2012-13]Status: DisposedITAT Amritsar24 Dec 2021AY 2012-13

Bench: Sh. Ravish Sood & Dr. M. L. Meena

For Appellant: Shri Ashray Sarna, CAFor Respondent: Smt Ratinder Kaur, DR
Section 143(1)Section 143(2)Section 143(3)Section 36

…herefore, no disallowance to the said extent qua the loan/advances given by the assessee to M/s. Khaira Trading company was called for. Our aforesaid view is supported by the judgments of the Hon’ble High Court of Bombay in the case of HDFC Bank Ltd vs. ACIT, 368 ITR 505 (Bom) and that in the case of Reliance Utilities and Power Ltd. (2009) 313 ITR 340 (Bom). In its aforesaid orders, the Hon’ble High Court had held that where interest free funds are available with the assessee, then, a presumption would arise that the investments made were from its interest free funds. In the backdrop of the facts involved in the…

Ulo Systems Llc, Gurgaon vs. ADIT, Dehradun

In the result, both the appeals of the assessee are allowed

ITA 285/DEL/2013[2004-05]Status: DisposedITAT Delhi19 Jun 2018AY 2004-05

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: Sh. Nageswar Rao (Adv.) &For Respondent: Sh. Satpal Gulati (CIT DR)
Section 115ASection 143(1)Section 143(3)Section 147Section 148Section 44BSection 44D

…n Industries 363 ITR 625 held that reasons u/s 148 of the Act must be based on new and tangible materials. Notice passed on documents already on record is not valid. 11. Hon’ble Bombay High Court in the case of Sadhna Nitro Chem Ltd. Vs. ACIT & others ACIT 368 ITR 505 (Bom) held as under:- “ Where assessments are sought to be opened beyond a period of four years from the end of the relevant assessment year before a notice to reopen can be issued, the condition precedent must be satisfied, i.e., failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment. Held, a…

Ulo Systems Llc., Gurgaon vs. ADIT, Dehradun

In the result, both the appeals of the assessee are allowed

ITA 5278/DEL/2011[2005-06]Status: DisposedITAT Delhi19 Jun 2018AY 2005-06

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: Sh. Nageswar Rao (Adv.) &For Respondent: Sh. Satpal Gulati (CIT DR)
Section 115ASection 143(1)Section 143(3)Section 147Section 148Section 44BSection 44D

…n Industries 363 ITR 625 held that reasons u/s 148 of the Act must be based on new and tangible materials. Notice passed on documents already on record is not valid. 11. Hon’ble Bombay High Court in the case of Sadhna Nitro Chem Ltd. Vs. ACIT & others ACIT 368 ITR 505 (Bom) held as under:- “ Where assessments are sought to be opened beyond a period of four years from the end of the relevant assessment year before a notice to reopen can be issued, the condition precedent must be satisfied, i.e., failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment. Held, a…

Sadhna Nitro Chem Ltd. v. ACIT (368 ITR 505) — Cited in 4 Judgments | BharatTax