How many judgments cite Shambhu Investment (P) Ltd. v. CIT?

181 judgments on BharatTax cite Shambhu Investment (P) Ltd. v. CIT (263 ITR 143), spanning 2010 to 2026.

Which sections of the Income Tax Act does Shambhu Investment (P) Ltd. v. CIT come up under?

It is most often cited in judgments turning on Section 143(3), Section 22, Section 24, Section 14A, Section 2(13), Section 37(1).

Shambhu Investment (P) Ltd. v. CIT

263 ITR 143Supreme Court of India2003#528 most cited

What is Shambhu Investment (P) Ltd. v. CIT authority for?

Income derived from letting out property along with incidental use of furniture, fixtures, and common facilities is assessable as 'income from house property' and not 'business income' when the prime object is merely to let out and not to exploit the property as a business asset.

181

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2010 to 2026.

Also referred to as

Shambhu Investment (P) Ltd. v. CIT · 263 ITR 143 · income from house property · business income · Section 22 Income Tax Act · Section 37(1) Income Tax Act · rental income classification · letting property with amenities · exploitation of property · dominant object letting · Section 2(13) business definition · income classification Supreme Court

Also reported as

129 Taxmann 70

Sections most often in play

Section 143(3)Section 22 Section 24 Section 14A Section 2(13)Section 37(1)Section 250 Section 57(iii)

Issues it is cited on

annual value section 24(a)section 22 disallowance under section 14a section 24 section 37(1)scrutiny assessment income from other sources section 14a salary section 80 transfer

Judgments citing Shambhu Investment (P) Ltd. v. CIT

I.T.O WD - 56(2), Kolkata vs. Salarpuria Soft Zone, Kolkata

In the result, the appeals of assessee are allowed and that of revenue are dismissed

ITA 581/KOL/2013[2008-2009]Status: DisposedITAT Kolkata29 Feb 2016AY 2008-2009

Bench: Shri Mahavir Singh, Jm & Shri Wasim Ahmed, Am]

For Appellant: Shri Sidharth Jhajahria, CAFor Respondent: Shri: Niraj Kumar, CIT-Dr

Section 143(3)Section 80I

…AY 2008-09 & 2009-10 from the list enclosed) are employed for providing various services and amenities to the users. Thus, the facts that the Ld. Commissioner of Income Tax (Appeals) held that the income earned by Sambhu Investment (P.) Ltd. -Vs- CIT [2003] 263 ITR 143 is assessable as property income has no relevance in the facts and circumstances of the present case as because in that case the facts showed that the main intention was to earn rental income and that is why the entire cost of the property was recovered from the tenants by way of interest-free advance. In view of the foregoing, after carefully an…

The Commissioner of Income Tax IV vs. M/s. Maheshwari Plaza Resorts (P) Ltd

ITTA/281/2011HC Telangana29 Feb 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

The Commissioner of Income Tax I vs. M/S Alloy Nitrides Limited

ITTA/297/2011HC Telangana29 Feb 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

The Commissioner of Income Tax (Central) vs. Sri R.Gowsreesham

ITTA/296/2011HC Telangana29 Feb 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

ACIT 21(1), Mumbai vs. Camoron Finance & Investments, Mumbai

In the result, the appeal of the Assessee is dismissed, whereas the appeal of the Revenue is treated as partly allowed for statistical purpose

ITA 4583/MUM/2014[2010-11]Status: DisposedITAT Mumbai20 Jan 2016AY 2010-11

Bench: Shri Amit Shukla & Shri Rajesh Kumar: (Assessment Year : 2010-11) M/S. Camoron Finance & Vs Acit-21(1) Investments, 139-140B Shiv, Mumbai (Respondent) Crossing Of Sahar Road & W.E. Highway, Vile Parle (E), Mumbai 400 057 (Appellant) Pan : Aaafc5210A : (Assessment Year : 2010-11) Acit-21(1) M/S. Camoron Finance & Mumbai (Appellant) Investments, 139-140B Shiv, Crossing Of Sahar Road & W.E. Highway, Vile Parle (E), Mumbai 400 057 (Respondent) Pan : Aaafc5210A

For Appellant: Shri Haresh G. Buch &For Respondent: Shri Rajesh Ojha (DR)

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C”, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER : (Assessment Year : 2010-11) M/s. Camoron Finance and Vs ACIT-21(1) Investments, 139-140B Shiv, Mumbai (Respondent) Crossing of Sahar Road and W.E. Highway, Vile Parle (E), Mumbai 400 057 (Appellant) PAN : AAAFC5210A : (Assessment Year : 2010-11) ACIT-21(1) M/s. Camoron Finance and Mumbai (Appellant) Investments, 139-140B Shiv, Crossing of Sahar Road and W.E. Highway, Vile Parle (E), Mumbai 400 057 (Respondent) PAN : AAAFC5210A Assessee by : Shri Haresh G. Buch & Ms. M…

Camoron Finance and Investments, Mumbai vs. Asst CIT 21(1), Mumbai

In the result, the appeal of the Assessee is dismissed, whereas the appeal of the Revenue is treated as partly allowed for statistical purpose

ITA 4227/MUM/2014[2010-11]Status: DisposedITAT Mumbai20 Jan 2016AY 2010-11

For Appellant: Shri Haresh G. Buch &For Respondent: Shri Rajesh Ojha (DR)

Section 143(3)

Atiqurehman Imtiyaz Ahmed Atlaswala, Mumbai vs. ACIT 17(3), Mumbai

In the result, the appeal filed by the assessee is allowed

ITA 1085/MUM/2013[2008-09]Status: DisposedITAT Mumbai08 Jan 2016AY 2008-09

Bench: Shri N.K.Billaiya & Shri Pawan Singhassessment Year: 2008-09 Atiqurehman Imtiyaz Ahmed Atlaswala, Acit, Cir 17(3), 21Nd Ghelabhai Street, Madanpura, Piramal Chambers, Parel, Vs. Mumbai-400058. Mumbai-400012. Pan: Aafpa4566L (Appellant) (Respondent)

For Appellant: Shri Deepak TralshawalaFor Respondent: Shri A. Ramachandran (DR)

Section 24(1)Section 37

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “A”, MUMBAI BEFORE SHRI N.K.BILLAIYA, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER Assessment Year: 2008-09 Atiqurehman Imtiyaz Ahmed Atlaswala, ACIT, Cir 17(3), 21nd Ghelabhai Street, Madanpura, Piramal Chambers, Parel, Vs. Mumbai-400058. Mumbai-400012. PAN: AAFPA4566L (Appellant) (Respondent) Assessee by : Shri Deepak Tralshawala Revenue by : Shri A. Ramachandran (DR) Date of hearing : 23.11.2015 Date of Pronouncement : 08.01.2016 O R D E R PER PAWAN SINGH, JM: 1. This appeal is filed by the assessee against the order dated 09.11.2012 passed by…

ACIT, New Delhi vs. Sh. Satbir Singh, New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 4594/DEL/2011[2007-08]Status: DisposedITAT Delhi30 Nov 2015AY 2007-08

Bench: Shri I.C.Sudhir & Shri O.P.Kantacit, Satbir Singh, Circle-33(1), 4/73, Wea Krishna Vs. New Delhi Market, Karolbagh, New Delhi Pan:Aogps9991A (Appellant) (Respondent) Appellant By : Sh. Sujit Kumar, Sr. Dr, Respondent By : Sh. Y.P. Rawala, Ca

For Appellant: Sh. Sujit Kumar, Sr. DRFor Respondent: Sh. Y.P. Rawala, CA

Section 143(3)Section 38Section 56(2)Section 57

…contended before the ld. Assessing Officer that primary purpose of letting out the hotel building was to earn income from the property and therefore in view of the later judgment of the Hon’ble Supreme Court in the case of Sambhu Investment Pvt. Ltd Vs. CIT, 263 ITR 143, the income was to be assessed under the head ‘Income from house property’. The ld. Assessing Officer did not accept the contention of the assessee and noted that as per clause (iii) of section 56(2) of the Act the letting out of the property was inseparable from letting out of the furniture and other assets of the hotel and the facts of the case…

ITO 8(2)-4, Mumbai vs. Nisha Mall Management Co. P. Ltd, Mumbai

In the result, appeal of the revenue is dismissed

ITA 5882/MUM/2010[2006-07]Status: DisposedITAT Mumbai30 Oct 2015AY 2006-07

Bench: Shri Joginder Singh, Jm & Shri R.C.Sharma, Am आमकय अऩीर सिं./Ita No.5882/Mum/2010 (नििाारण वषा / Assessment Year :2006-2007) Ito-8(2)(4), Mumbai Vs. M/S Nishta Mall Management Co. Pvt. Ltd., Knowledge House, Shyam Nagar, Off. Jogeshwari-Vikhroli Link Road, Jogeshwari (E), Mumbai-400060 स्थामी रेखा सिं./ जीआइआय सिं./ Pan/Gir No. : Aaecm 0705 H (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. याजस्र् की ओर से /Revenue By : Shri M. Rajan यनधावरयती की ओर से /Assessee By : Shri Nishit Gandhi सुनर्ाई की तायीख / Date Of Hearing : 5Th August, 2015 घोषणा की तायीख/Date Of Pronouncement 30-10-2015 आदेश / O R D E R Per R.C.Sharma, Am This Is An Appeal Filed By The Revenue Against The Order Of Cit(A), Mumbai, Dated 13-4-2010, For The Assessment Year 2006-07, In The Matter Of Order Passed U/S.143(3) Of The I.T.Act, Wherein Following Grounds Have Been Taken By The Revenue :- “On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A) Erred In Holding That Business Centre Service Charges Of Rs.52,89,000/- Should Be Treated As “Business Income” Instead Of “Income From House Property” Without Appreciating The Facts Of The Case.”

For Appellant: Shri Nishit GandhiFor Respondent: Shri M. Rajan

Section 143(3)

…rion is accepted. Where a receipt is a business receipt or a receipt from mere letting out of an immovable property would depend on facts of the case. Applying the ratio laid down by the Hon’ble Supreme Court in the case of Shambhu Investment Private Limited, 263 ITR 143(SC), if property is let out with the intention to have rental income it would be assessable as income from house property. On the other hand if the primary objection is to exploit the property by complex commercial activities, the income from the same should be considered as business income. The Business Conducting Agreement dated 18.02.2005 betw…

Consulate Constructions, Bangalore vs. Assistant Commissioner of Income Tax, Bangalore

In the result, the assessee’s appeals for the asst

ITA 1212/BANG/2014[2009-10]Status: DisposedITAT Bangalore24 Sept 2015AY 2009-10

Bench: Shri Vijaypal Rao & Shri Jason P Boazita Nos.1209 & 1212/Bang/2014 (Asst. Years – 2004-05 To 2006-2007 & 2009-10) M/S Consulate Constructions, Unit No.102, Consulate I, No.1, Richmond Road, Bangalore. . Appellant Pan – Aacfc7082Q. Vs.

For Appellant: Shri Prashanth G.S, CAFor Respondent: Shri Sunil Kumar Agarwala, JCIT

Section 143(1)Section 143(2)Section 143(3)Section 147Section 148

…19/12/2011, inter alia, assessing the income from lease rent as ‘Income from house property’, as against ‘Business Income’ declared by the assessee, by following the decision of the Hon’ble Apex Court in the case of Shambn Investments Pvt. Ltd., reported in 263 ITR 143. ITA No.1209-1212/B/14 4 For asst. year 2009-10, the assessment was concluded u/s 143(3) of the Act vide order dated 23/11/2011 wherein the rental receipts were assessed as Income from House Property at Rs.81,15,523/- and the same rental receipts were protectively assessed as ‘Business Income’ as declared by the assessee. 3. Aggrieved by the o…

Consulate Constructions, Bangalore vs. Assistant Commissioner of Income Tax, Bangalore

In the result, the assessee’s appeals for the asst

ITA 1209/BANG/2014[2004-05]Status: DisposedITAT Bangalore24 Sept 2015AY 2004-05

For Appellant: Shri Prashanth G.S, CAFor Respondent: Shri Sunil Kumar Agarwala, JCIT

Section 143(1)Section 143(2)Section 143(3)Section 147Section 148

M/S Silver Software Pvt Ltd, Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

In the result, the assessee's appeals for Assessment Years 2010-11 and 2011-12

ITA 1642/BANG/2014[2010-11]Status: DisposedITAT Bangalore29 May 2015AY 2010-11

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz

For Appellant: Shri Zain Ahmed Khan, C.AFor Respondent: Dr.P.K. Srihari, Addl. CIT (D.R.)

Section 143(3)

…e assessee constitutes ‘rent from letting out’ and was exigible to tax under the head ‘Income from House Property’. In coming to this conclusion, the Assessing Officer relied on the following judicial pronouncements :- (i) Shambu Investments Pvt. Ltd. (2003) 263 ITR 143(SC). (ii) Bhoopalam Commercial Complex & Industries (262 ITR 517) (Kar). (iii) CIT V Sarabhai Pvt. Ltd. (2003) 263 ITR 197 (Guj) (iv) CIT V Poddar Cement Pvt. Ltd. (1997) 226 ITR 625 (SC). 2.2 Aggrieved by the orders of assessment for Assessment Years 2010-11 and 2011-12 dt.15.3.2013 and 5.3.2014 respectively, the assessee preferred appeals befor…

Padma Vashi Shewaramani, Chennai vs. ADIT, Chennai

In the result, the impugned is set aside and the appeal of the

ITA 2281/CHNY/2014[2007-2008]Status: DisposedITAT Chennai27 Mar 2015AY 2007-2008

Bench: Shri A. Mohan Alankamony & Shri Vikas Awasthyआयकर अपील सं./Ita No.2281/Mds/2014 "नधा"रण वष" /Assessment Year : 2007-08 Smt. Padma Vashi Shewaramani, The Assistant Director Of No.73, Janki Bhawan, V. Income Tax, Sardar Patel Road, International Taxation, Guindy, Chennai - 600 032. Chennai - 600 034. Pan : Aayps 4687 D (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri K.M. Mohandass, CAFor Respondent: Shri S. Das Gupta, JCIT

Section 143(2)Section 14ASection 50

…f property as “business income”, the Ld. A.R. submitted that earlier, the assessee has been offering rental income under the head “income from business”. In view of the judgment of the Hon'ble Supreme Court of India in the case of CIT v. Shambhu Investments (263 ITR 143) and the judgment of Hon'ble jurisdictional High Court in the case of Keyaram Hotels Pvt. Ltd. v. DCIT 2014 (11) TMI 633, the assessee changed the head of income and returned the rental income under the head “income from house property”. The Ld. A.R. prayed for setting aside the impugned order. 6. On the other hand, Shri S. Das Gupta, JCIT,…

M/S Consulate Constructions, Bangalore vs. DCIT, Bangalore

In the result, the assessee's appeals for Assessment Years 2001-02 and 2003-04 are partly allowed for statistical purposes

ITA 944/BANG/2011[2001-02]Status: DisposedITAT Bangalore06 Feb 2015AY 2001-02

For Appellant: Shri A.Shankar, AdvocateFor Respondent: Dr. K. Shankar Prasad, JCIT (D.R)

Section 144Section 147Section 148Section 154

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH ‘ C ’ BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI JASON P. BOAZ, ACCOUNTANT MEMBER I.T. A. Nos.944 & 945/Bang/2011 (Assessment Year : 2001-02 & 2003-04) M/s. Consulate Constructions, Unit No.102, Consultate – 1, No.1, Richmond Road, Bengaluru-560 025 …. Appellant. Vs. Dy. Commissioner of Income Tax, Circle 1(1), Bengaluru. ….. Respondent. Appellant By : Shri A.Shankar, Advocate. Respondent By : Dr. K. Shankar Prasad, JCIT (D.R) Date of Hearing : 4.12.2014. Date of Pronouncement : 6.2.2015. O R D E R Per Shri Jason P. Boaz, A.M. : These Appeals by the…

Garg Dyeing & Processing Industries vs. Asstt Commissioner of Income Tax

ITA/319/2012HC Delhi22 Nov 2012

Section 143(1)Section 143(3)Section 24Section 56Section 56(2)(iii)

…ITA 319/2012 Page 1 of 9 $~8 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 22nd November, 2012 + ITA 319/2012 GARG DYEING & PROCESSING INDUSTRIES ..... Appellant Through: Mr. Rajiv Saxena with Mr. Rajat Joseph, Advs. versus ASSTT COMMISSIONER OF INCOME TAX ..... Respondent Through: Mr. Sanjeev Sabharwal, sr. standing counsel with Mr. Puneet Gupta, jr. standing counsel CORAM: MR. JUSTICE S. RAVINDRA BHAT MR. JUSTICE R.V. EASWAR R.V.…