SOUTH LTD. v. COMMISSIONER OF INCOME TAX

378 ITR 410High Court2015#11877 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2024.

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Judgments citing SOUTH LTD. v. COMMISSIONER OF INCOME TAX

VIATON ENERGY PRIVATE LIMITED,MUMBAI vs. ITO, WARD-17(4), HYD, HYDERABAD

In the result, appeal of the assessee is dismissed

ITA 1280/HYD/2016[2012-13]Status: DisposedITAT Hyderabad21 Mar 2024AY 2012-13

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

For Appellant: Shri Dharmesh Shah &For Respondent: Shri Shakeer Ahamed, DR

Section 143(3)

…and, therefore, the interest cannot be brought to tax as income from other sources, without giving set-off of the interest amount paid on the long term borrowing availed by the assessee. Reliance was placed on the decision in the case of Vodaphone South Ltd., 378 ITR 410 and Punjab Stainless Steel Ind. 162 Taxman 9. 6. On the aspect of disallowance of the administrative expenses, plea of the assessee was that it already commenced the business by placing the order of its plant and machinery and started installing the electricity plants and, therefore, such an expense should have been allowed. Reliance was placed o…

NAMITA AGGARWAL,AGRA UP vs. ITO WARD-10(1), NEW DELHI

In the result, appeal of the assessee is allowed

ITA 7686/DEL/2019[2015-16]Status: DisposedITAT Delhi16 Feb 2023AY 2015-16

Bench: Shri Shamim Yahya & Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A No.7686/Del/2019 िनधा"रणवष"/Assessment Year: 2015-16 बनाम Namita Aggarwal Ito D-59, Kamla Nagar, Vs. Ward 10(1) Agra, Uttar Pradesh. New Delhi. Pan No. Abcpa2224R अपीलाथ" Appellant ""यथ"/Respondent

Section 143(3)Section 57

…s taking in order to earn interest income. Therefore, it is submitted that the same is an allowable expenditure. 5. The Ld. Counsel for the assessee placed reliance on the decision of the Hon’ble Delhi High Court in the case of Vodafone South Ltd. Vs. CIT [378 ITR 410] in respect of his above contentions. 6. The Ld. Counsel for the assessee further submits that rule of consistency is required to be followed as in the case of the assessee in none of the years either in the earlier assessment years or in the subsequent assessment years the claim of the assessee was denied except in the year under consideration…

M/S BEST TRADING & AGENCIES LTD vs. THE DEPUTY COMMISSIONER OF INCOME TAX

In the result, the orders passed by the

ITA/32/2012HC Karnataka26 Aug 2020

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 115JSection 260Section 260A

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 26TH DAY OF AUGUST 2020 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE H.T.NARENDRA PRASAD I.T.A. NO.191 OF 2011 C/W I.T.A. NO.32 OF 2012 I.T.A. NO.191 OF 2011 BETWEEN: M/S. BEST TRADING AND AGENCIES LTD., REP. BY ITS DIRECTOR B.R. GOPALA KRISHNA C/O. KIRLOSKAR ELECTRIC CO. LTD., P.B. NO.5555, MALLESWARAM (WEST) BANGALORE-560055. ... APPELLANT (BY SRI. A. SHANKAR, SR. COUNSEL A/W SRI. M. LAVA, ADV.,) AND: THE DEPUTY COMMISSIONER OF INCOME-TAX CIRCLE-11(2), 5TH FLOOR NO.14/3…

M/S BEST TRADING & AGENCIES LTD vs. THE DEPUTY COMMISSIONER OF INCOME TAX

In the result, the orders passed by the

ITA/191/2011HC Karnataka26 Aug 2020

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 115JSection 260Section 260A

ACIT, NEW DELHI vs. M/S. VISHNU APARTMENTS PVT. LTD., JAIPUR

In the result, the appeal filed by the Revenue is dismissed

ITA 5828/DEL/2014[2010-11]Status: DisposedITAT Delhi30 Jan 2020AY 2010-11

Bench: Shri R.K. Panda & Shri Kuldip Singhassessment Year: 2010-11 Acit, Vs Vishnu Apartments Pvt. Ltd., Central Circle-7, Sheela Bhawan, New Delhi. 8, Motilal Atal Road, Jaipur. Pan: Aaacv6397E (Appellant) (Respondent) Assessee By : Shri I.P. Bansal & Shri Vivek Bansal, Advocates; & Ms Suman Sapra, Ca Revenue By : Shri J.K. Mishra, Cit, Dr Date Of Hearing : 18.12.2019 Date Of Pronouncement : 30.01.2020 Order Per R.K. Panda, Am: This Appeal Filed By The Revenue Is Directed Against The Order Dated 14Th August, 2014 Of The Cit(A)-1, New Delhi Relating To Assessment Year 2010-11. 2. The Grounds Raised By The Revenue Are As Under:- “1. The Order Of Ld. Cit(A) Is Not Correct In Law & Facts. 2. On The Facts & Circumstances Of The Case, The Ld. Cit(A) Has Erred In Law In Deleting The Addition Of Rs.47,07,37,143/- Made By The Ao On Account Of ‘Sham Transaction Of Revenue Sharing.’ 3. The Appellant Craves Leave To Add, Amend Any/All The Ground Of Appeal Before Or During The Course Of Hearing Of The Appeal.”

For Appellant: Shri I.P. Bansal &For Respondent: Shri J.K. Mishra, CIT, DR

Section 269SSection 40A(2)(b)Section 44A

…rudent businessman would act. The authorities must not look at the matter from their own point but that of a prudent businessman. He also relied on the following decisions:- i) CIT vs. Rajan Nanda (2012) 349 ITR 8 (Del); ii) Vodafone South Ltd. vs. CIT (2015) 378 ITR 410 (Del); and iii) CIT vs. Rockman Cycle Industries (P) Ltd. (2011) 331 ITR 401 (P&H). 15. He accordingly submitted that the order of the CIT(A) be upheld and the grounds raised by the Revenue should be dismissed. 16. We have considered the rival arguments made by both the parties, perused the orders of the AO and the CIT(A) and the paper book fil…

DLF INFO CITY DEVELOPERS (KOLKATA) LTD.,GURGAON vs. ACIT, CIRCLE- I, GURGAON

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

ITA 894/DEL/2018[2012-13]Status: DisposedITAT Delhi20 Nov 2019AY 2012-13

Bench: Sh. R. K. Panda & Ms. Suchitra Kambleassessment Year: 2012-13 Dlf Info City Vs. Acit Development (Kolkata) Circle- I Limited, 3Rd Floor, Shopping Gurugram Mall Complex, Arjun Marg, Dlf City Phase-1, Gurugram Pan No. Aabcd9621N (Appellant) (Respondent)

Section 57Section 80I

…and factually the Ld. CIT(A) is not justified in enhancing the income and not allowing netting off. He also relied on the following decisions :- a. Pr. CIT Vs. Jubilant Energy Nelp V P Ltd. [2019] 102 taxmann.com 97 (Del) b. Vodafone South Ltd. Vs. CIT [2015] 378 ITR 410 (Del) c. ITO Vs. M/s. Brahma Associates (ITA 133/PN/13) (ITAT pune) d. CIT Vs. Bokaro Steels Ltd. 236 ITR 315 (SC) 15. The ld. DR on the other hand heavily relied on the order of the CIT(A). She submitted that the Ld. CIT(A) has not introduced any new source of income and has only recalculated / recomputed such income. Further the Ld. CIT(A) has…

EXPRESS INFRASTRUCTURE PVT. LTD.,CHENNAI vs. DCIT, CHENNAI

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

ITA 930/CHNY/2017[2009-10]Status: DisposedITAT Chennai18 Jun 2018AY 2009-10

Bench: Shri A. Mohan Alankamony & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.No.930/Chny/2017 "नधा"रण वष"/Assessment Year:2009-10 M/S. Express Infrastructures Pvt. Ltd., The Deputy Commissioner Of Express Estates, No. 2, Club House Vs. Income Tax, Road, Mount Road, Chennai 600 002. Company Circle Ii(1), [Pan: Aabce5521G] Chennai. (अपीलाथ" /Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से / Appellant By : Shri G. Baskar, Advocate ""यथ" क" ओर से/Respondent By : Ms. Sandhya Rani, Jcit सुनवाई क" तार"ख/ Date Of Hearing : 03.05.2018 घोषणा क" तार"ख /Date Of Pronouncement : 13.06.2018 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 9, Chennai Dated 30.12.2016 Relevant To The Assessment Year 2009-10. The Only Effective Ground Raised In The Appeal Of The Assessee Is That The Ld. Cit(A) Has Erred In Holding That The Interest Receipt Of ₹.62,77,671/- Is Income & Is To Be Assessed As Income From Other Sources.

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Ms. Sandhya Rani, JCIT

Section 143(3)

….62,77,671/-. 4. On being aggrieved, the assessee is in appeal before the Tribunal. By reiterating the submissions as made before the ld. CIT(A) and relying upon the decision in the case of CIT v. Bokaro Steel Ltd. 236 ITR 315(SC), Vodafone South Ltd. v. CIT 378 ITR 410 (Delhi) and NTPC Sail Power Company Pvt. Ltd. v. CIT 210 Taxman 358, the ld. Counsel for the assessee prayed for deleting the addition made and confirmed by the ld. CIT(A). 5. On the other hand, the ld. DR strongly supported the orders of authorities below besides placing heavy reliance on the decisions of the Hon’ble Supreme Court in the case o…

DCIT, NEW DELHI vs. M/S. MAHALAXMI DESIGNS PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed

ITA 1991/DEL/2014[2010-11]Status: DisposedITAT Delhi23 Nov 2017AY 2010-11

Bench: Shri G.D. Agrawal, Before Shri G.D. Agrawal & And Before Shri Before Shri G.D. Agrawal, G.D. Agrawal & And Shri Kuldip Singh Shri Kuldip Singhshri Kuldip Singh Shri Kuldip Singh

For Appellant: Ms. Shefali Swaroop, CIT-DRFor Respondent: Shri Ajay Wadhwa, Advocate and Ms. Bharti Sharma, CA

…ee’s case are altogether different, the above decision of Hon'ble Supreme Court 5 ITA-1991/Del/2014 would not be applicable. He stated that on these facts, the decision of Hon'ble Jurisdictional High Court in the case of Vodafone South Ltd. Vs. CIT – [2015] 378 ITR 410 (Delhi) would be squarely applicable. He referred to page 111 of the assessee’s paper book which is the list of debtors and creditors and from which, the assessee pointed out that the borrowed money has been utilized for earning of interest. Thus, there is a direct nexus between the borrowing of the money and the money advanced on which interest…

The Commissoner of Income Tax I , vs. M/s. Alpha Thought Technologies P Ltd.,

In the result, the orders passed by the

ITTA/191/2011HC Telangana21 Mar 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Section 115JSection 260Section 260A