Shakti Footware v. ACIT

317 ITR 194Reported decision#12612 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 348,607 Indian tax judgments — from 2022 to 2022.

Issues it is cited on

section 94(7)section 80ia(1)section 75record datesection 92ca(4)section 94section 92c(1)section 80ib(10)section 92c(2)section 92c(3)interest under section 234cfar analysis

Judgments citing Shakti Footware v. ACIT

ACIT CC-43, Mumbai vs. Roha Dyechem P. Ltd, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 4295/MUM/2009[2007-08]Status: DisposedITAT Mumbai30 Nov 2022AY 2007-08

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…the assessee is not eligible for deduction under section 80I and 80IB on interest income derived as the same is not derived from industrial undertaking. This issue is recently considered by the Hon'ble Madras High Court in the case of Shakti Footware vs. ACIT 317 ITR 194 wherein it was held that the deposits admittedly were made out of the profits of the industrial activity they were kept in bank for convenience of availing further facilities from the bank, therefore, interest on deposits made would not qualify for deduction under section 801B. Similar principles also apply here as the assessee has surplus funds…

ACIT CC-43, Mumbai vs. Roha Dyechem P. Ltd, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 4294/MUM/2009[2004-05]Status: DisposedITAT Mumbai30 Nov 2022AY 2004-05

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…the assessee is not eligible for deduction under section 80I and 80IB on interest income derived as the same is not derived from industrial undertaking. This issue is recently considered by the Hon'ble Madras High Court in the case of Shakti Footware vs. ACIT 317 ITR 194 wherein it was held that the deposits admittedly were made out of the profits of the industrial activity they were kept in bank for convenience of availing further facilities from the bank, therefore, interest on deposits made would not qualify for deduction under section 801B. Similar principles also apply here as the assessee has surplus funds…

ACIT CC-43, Mumbai vs. Roha Dyechem P. Ltd, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 4293/MUM/2009[2002-03]Status: DisposedITAT Mumbai30 Nov 2022AY 2002-03

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…the assessee is not eligible for deduction under section 80I and 80IB on interest income derived as the same is not derived from industrial undertaking. This issue is recently considered by the Hon'ble Madras High Court in the case of Shakti Footware vs. ACIT 317 ITR 194 wherein it was held that the deposits admittedly were made out of the profits of the industrial activity they were kept in bank for convenience of availing further facilities from the bank, therefore, interest on deposits made would not qualify for deduction under section 801B. Similar principles also apply here as the assessee has surplus funds…

Roha Dyechem P. Ltd, Mumbai vs. ACIT Cen Cir 43, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 2863/MUM/2009[2007-08]Status: DisposedITAT Mumbai30 Nov 2022AY 2007-08

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…the assessee is not eligible for deduction under section 80I and 80IB on interest income derived as the same is not derived from industrial undertaking. This issue is recently considered by the Hon'ble Madras High Court in the case of Shakti Footware vs. ACIT 317 ITR 194 wherein it was held that the deposits admittedly were made out of the profits of the industrial activity they were kept in bank for convenience of availing further facilities from the bank, therefore, interest on deposits made would not qualify for deduction under section 801B. Similar principles also apply here as the assessee has surplus funds…

Roha Dyechem Pvt.Ltd., Mumbai vs. ACIT-Central Circle 43, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 2862/MUM/2009[2006-07]Status: DisposedITAT Mumbai30 Nov 2022AY 2006-07

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…the assessee is not eligible for deduction under section 80I and 80IB on interest income derived as the same is not derived from industrial undertaking. This issue is recently considered by the Hon'ble Madras High Court in the case of Shakti Footware vs. ACIT 317 ITR 194 wherein it was held that the deposits admittedly were made out of the profits of the industrial activity they were kept in bank for convenience of availing further facilities from the bank, therefore, interest on deposits made would not qualify for deduction under section 801B. Similar principles also apply here as the assessee has surplus funds…

Roha Dyechem Pvt.Ltd., Mumbai vs. ACIT-Central Circle 43, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 2860/MUM/2009[2004-05]Status: DisposedITAT Mumbai30 Nov 2022AY 2004-05

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…the assessee is not eligible for deduction under section 80I and 80IB on interest income derived as the same is not derived from industrial undertaking. This issue is recently considered by the Hon'ble Madras High Court in the case of Shakti Footware vs. ACIT 317 ITR 194 wherein it was held that the deposits admittedly were made out of the profits of the industrial activity they were kept in bank for convenience of availing further facilities from the bank, therefore, interest on deposits made would not qualify for deduction under section 801B. Similar principles also apply here as the assessee has surplus funds…

Roha Dyechem P. Ltd, Mumbai vs. ACIT Cen Cir 43, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 2859/MUM/2009[2002-03]Status: DisposedITAT Mumbai30 Nov 2022AY 2002-03

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…the assessee is not eligible for deduction under section 80I and 80IB on interest income derived as the same is not derived from industrial undertaking. This issue is recently considered by the Hon'ble Madras High Court in the case of Shakti Footware vs. ACIT 317 ITR 194 wherein it was held that the deposits admittedly were made out of the profits of the industrial activity they were kept in bank for convenience of availing further facilities from the bank, therefore, interest on deposits made would not qualify for deduction under section 801B. Similar principles also apply here as the assessee has surplus funds…

ACIT Cen Ci-43 vs. Roha Dyechem P. Ltd, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 10/MUM/2009[2004-2005]Status: DisposedITAT Mumbai30 Nov 2022AY 2004-2005

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…the assessee is not eligible for deduction under section 80I and 80IB on interest income derived as the same is not derived from industrial undertaking. This issue is recently considered by the Hon'ble Madras High Court in the case of Shakti Footware vs. ACIT 317 ITR 194 wherein it was held that the deposits admittedly were made out of the profits of the industrial activity they were kept in bank for convenience of availing further facilities from the bank, therefore, interest on deposits made would not qualify for deduction under section 801B. Similar principles also apply here as the assessee has surplus funds…