Shree Krishna Polyster Ltd. v. Deputy Commissioner of Income

274 ITR 271Reported decision#24153 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2016.

Judgments citing Shree Krishna Polyster Ltd. v. Deputy Commissioner of Income

DCIT 24(3), Mumbai vs. Gundecha Builders, Mumbai

In the result appeal filed by the revenue for the Asst

ITA 6103/MUM/2014[2011-12]Status: DisposedITAT Mumbai24 Aug 2016AY 2011-12

Bench: Shri Rajendra (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2011-12

For Appellant: Mrs. Vidhisha KalraFor Respondent: Shri. Vimal Punmiya

Section 143(3)Section 14A

…assessee as business income instead of income from other sources ignoring the fact that the case is covered by the 14 Assessment Year: 2011-12 decision of High Court, Bombay in the case of Shree Krishna Polyster Ltd. Vs. Deputy Commissioner of Income tax (274 ITR 271). 2. On the facts and circumstances of the case and in law, the Ld. CIT(‟4} erred in allowing the interest paid on unsecured loans against the above stated interest income considering it to be business income. The appellant prays that the order of the CIT‟A,) on the grounds be set aside and matter may he decided according to law. The appellant…

Neha Home Builders P.Ltd, Mumbai vs. DCIT 9(2), Mumbai

In the result, appeal is partly allowed

ITA 3078/MUM/2013[2009-10]Status: DisposedITAT Mumbai23 Mar 2016AY 2009-10

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Appellant: Shri Vimal PunmiyaFor Respondent: Shri Chandrajit Singh

…eat the interest income of the assessee as business income instead of income from other sources ignoring the fact that the case is covered by the decision of High Court, Bombay in the case of Shree Krishna Polyster Ltd. Vs. Deputy Commissioner of Income tax (274 ITR 271). 2. On the facts and circumstances of the case and in law, the Ld. CIT(‟4} erred in allowing the interest paid on unsecured loans against the above stated interest income considering it to be business income. The appellant prays that the order of the CIT‟A,) on the grounds be set aside and matter may he decided according to law. The appellant cr…

DCIT 24(3), Mumbai vs. Gundecha Builders, Mumbai

In the result, Department’s appeal is partly allowed

ITA 3906/MUM/2014[2010-11]Status: DisposedITAT Mumbai15 Jan 2016AY 2010-11

Bench: Shri Saktijit Dey & Shri N.K. Billaiya

For Appellant: Shri Vimal PunmiyaFor Respondent: Shri Shrikant Mamdeo

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER ITA no.3906/Mum./2014 (Assessment Year : 2010–11) Dy. Commissioner of Income Tax Pratyaksha Kar Bhavan ……………. Appellant Bandra Kurla Complex Bandra (E), Mumbai 400 051 v/s M/s. Gundecha Builders 141, Gundecha House Jawahar Nagar ……………. Respondent Goregaon (W), Mumbai 400 062 PAN – AAAFG0848D Assessee by : Shri Vimal Punmiya Revenue by : Shri Shrikant Mamdeo Date of Hearing – 05.01.2016 Date of Order – 05.01.2016 O R D E R PER SAKTIJIT DEY, J.M. Instant appeal preferred…