Saraswati Insurance Company Ltd. v. CIT

252 ITR 430High Court2001#20117 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2016 to 2022.

Judgments citing Saraswati Insurance Company Ltd. v. CIT

Gujarat Mineral Development Corporation Ltd., Ahmedabad vs. The Dy.CIT, Circle-4, Now Circle-2(1)(1), Ahmedabad

The appeal of the assessee is partly allowed

ITA 1657/AHD/2015[2005-06]Status: DisposedITAT Ahmedabad30 Nov 2022AY 2005-06

Bench: Smt.Annapurna Gupta & T.R. Senthil Kumar & Asstt.Year: 2005-06 Gujarat Mineral Development Dcit/Jcit, Cir.4 Corporation Ltd. Vs Ahmedabad. “Khanji Bhavan” 132Ft Ring Road University Ground, Ahmedabad. Asstt.Year: 2005-06 Dcit/Jcit, Cir.4 Gujarat Mineral Development Ahmedabad. Vs Corporation Ltd. “Khanji Bhavan” 132Ft Ring Road University Ground, Ahmedabad. (Applicant) (Responent) : Assessee By Shri S.N. Soparkar, With Shri Bandish Soparkar, Ar & Shri Parin Shah, Ar Revenue By : Shri James Kurian, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 30/08/2022 घोषणा क" तार"ख /Date Of Pronouncement: 30/11/2022 आदेश/O R D E R Per Annapurna Guptathe Present Appeals Relate To The Same Assessee, Pertain To The Same Assessment Year & Are Against Orders Passed By The

For Respondent: Shri James Kurian, CIT-DR
Section 143(3)Section 250(6)Section 271(1)(c)

…circumstances, the impugned income is required to be taxed in the hands of the appellant for the relevant period. In this regard reliance is placed on the decision of Hon'ble Delhi High Court in the case of Saraswati Insurance Company Ltd Vs. CIT reported in 252 ITR 430. The relevant extracts of the decision are as under: ITA No.1747/A/2009, 1657 and 1471/A/2015 24 "The assessee-company had advanced certain loans to its subsidiary company on interest at the rate of 12 per cent, per annum. Interest income was included in the total income of the assessee. For the assessment years 1977-78 and 1978-79, the assesse…

The DCIT, Circle-4, Ahmedabad vs. Gujarat Mineral Development Corporation Ltd., Ahmedabad

The appeal of the assessee is partly allowed

ITA 1471/AHD/2015[2005-06]Status: DisposedITAT Ahmedabad30 Nov 2022AY 2005-06

Bench: Smt.Annapurna Gupta & T.R. Senthil Kumar & Asstt.Year: 2005-06 Gujarat Mineral Development Dcit/Jcit, Cir.4 Corporation Ltd. Vs Ahmedabad. “Khanji Bhavan” 132Ft Ring Road University Ground, Ahmedabad. Asstt.Year: 2005-06 Dcit/Jcit, Cir.4 Gujarat Mineral Development Ahmedabad. Vs Corporation Ltd. “Khanji Bhavan” 132Ft Ring Road University Ground, Ahmedabad. (Applicant) (Responent) : Assessee By Shri S.N. Soparkar, With Shri Bandish Soparkar, Ar & Shri Parin Shah, Ar Revenue By : Shri James Kurian, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 30/08/2022 घोषणा क" तार"ख /Date Of Pronouncement: 30/11/2022 आदेश/O R D E R Per Annapurna Guptathe Present Appeals Relate To The Same Assessee, Pertain To The Same Assessment Year & Are Against Orders Passed By The

For Respondent: Shri James Kurian, CIT-DR
Section 143(3)Section 250(6)Section 271(1)(c)

…circumstances, the impugned income is required to be taxed in the hands of the appellant for the relevant period. In this regard reliance is placed on the decision of Hon'ble Delhi High Court in the case of Saraswati Insurance Company Ltd Vs. CIT reported in 252 ITR 430. The relevant extracts of the decision are as under: ITA No.1747/A/2009, 1657 and 1471/A/2015 24 "The assessee-company had advanced certain loans to its subsidiary company on interest at the rate of 12 per cent, per annum. Interest income was included in the total income of the assessee. For the assessment years 1977-78 and 1978-79, the assesse…

Gujarat Mineral Development Corporation Ltd., Ahmedabad vs. The Jt.CIT., Circle-4, Ahmedabad

The appeal of the assessee is partly allowed

ITA 1747/AHD/2009[2005-06]Status: DisposedITAT Ahmedabad30 Nov 2022AY 2005-06

Bench: Smt.Annapurna Gupta & T.R. Senthil Kumar & Asstt.Year: 2005-06 Gujarat Mineral Development Dcit/Jcit, Cir.4 Corporation Ltd. Vs Ahmedabad. “Khanji Bhavan” 132Ft Ring Road University Ground, Ahmedabad. Asstt.Year: 2005-06 Dcit/Jcit, Cir.4 Gujarat Mineral Development Ahmedabad. Vs Corporation Ltd. “Khanji Bhavan” 132Ft Ring Road University Ground, Ahmedabad. (Applicant) (Responent) : Assessee By Shri S.N. Soparkar, With Shri Bandish Soparkar, Ar & Shri Parin Shah, Ar Revenue By : Shri James Kurian, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 30/08/2022 घोषणा क" तार"ख /Date Of Pronouncement: 30/11/2022 आदेश/O R D E R Per Annapurna Guptathe Present Appeals Relate To The Same Assessee, Pertain To The Same Assessment Year & Are Against Orders Passed By The

For Respondent: Shri James Kurian, CIT-DR
Section 143(3)Section 250(6)Section 271(1)(c)

…circumstances, the impugned income is required to be taxed in the hands of the appellant for the relevant period. In this regard reliance is placed on the decision of Hon'ble Delhi High Court in the case of Saraswati Insurance Company Ltd Vs. CIT reported in 252 ITR 430. The relevant extracts of the decision are as under: ITA No.1747/A/2009, 1657 and 1471/A/2015 24 "The assessee-company had advanced certain loans to its subsidiary company on interest at the rate of 12 per cent, per annum. Interest income was included in the total income of the assessee. For the assessment years 1977-78 and 1978-79, the assesse…

DCIT, New Delhi vs. M/S. Janta Co- Operative Bank Ltd., New Delhi

Appeal of the Revenue is dismissed

ITA 2074/DEL/2012[2008-09]Status: DisposedITAT Delhi06 Dec 2016AY 2008-09

Bench: Shri R. S. Syal & Smt Suchitra Kamble

Section 41(1)

…interest on accrual basis. The Ld. DR relied upon the various judgments. a) Southern Technologies Ltd. Vs. JCIT (2010) 187 Taxman 346 (SC) b) CIT Vs. Shiv Prakash Janak Raj & Co. Pvt. Ltd. (1996) 222 ITR 583 (SC) c) Saraswati Insurance Co. Ltd. Vs. CIT (2001) 252 ITR 430 (Del) d) Benares State Bank Ltd. Vs. CIT (1989) 180 ITR 231 (All) e) Grindlays Bank P.L.C. Vs. CIT (1993) 201 ITR 148 (Cal) f) CIT Vs. Allahabad Bank (1991) 192 ITR 182 (Cal) 8. The Ld. AR relied upon the order of the CIT(A) and various case laws. 9. We have heard both the parties and perused the records. The assessee was holding the money of p…

Saraswati Insurance Company Ltd. v. CIT (252 ITR 430) — Cited in 4 Judgments | BharatTax