Sri Chakra Financial Services Ltd. v. Commissioner of Income Tax

350 ITR 398Reported decision2013#20589 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2019 to 2019.

Judgments citing Sri Chakra Financial Services Ltd. v. Commissioner of Income Tax

Sundaram Finance Limited, Chennai vs. Addl. CIT, Chennai

ITA 73/CHNY/2015[2005-06]Status: DisposedITAT Chennai04 Sept 2019AY 2005-06

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./I.T.A.No.72/Chny/2015 ("नधा"रण वष" / Assessment Years: 2004-05) Vs The Joint Commissioner Of Income M/S. Sundaram Finance Ltd., No.21, Pattulos Road, Tax, Chennai – 600 002. Company Range Vi Chennai - 34. Pan: Aaacs 4944A (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./I.T.A.No.73/Chny/2015 ("नधा"रण वष" / Assessment Years: 2005-06) Vs The Addl. Commissioner Of Income M/S. Sundaram Finance Ltd., No.21, Pattulos Road, Tax, Chennai – 600 002. Company Range Vi Chennai - 34. Pan: Aaacs 4944A (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./I.T.A.Nos. 285 & 286/Chny/2015 ("नधा"रण वष" / Assessment Years: 2004-05 & 2005-06) Vs M/S. Sundaram Finance Ltd., The Acit, Ltu-1, No.21, Pattulos Road, Chennai-34. Chennai – 600 002. Pan: Aaacs 4944A (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri R. Vijayaraghavan, Advocate

…in its Book of Accounts on the basis of S.O.D. does not alter the position in the tax in the hands of the assessee. Therefore, the Judgement of Andhra Pradesh High Court in the case of Sri Chakra Financial Services Ltd. Vs. Commissioner of Income Tax [(2013) 350 ITR 398] is distinguishable. 7. On the other hand, since in the case of Ashok Leyland Finance Ltd., (supra) the Coordinate Bench of this Court has upheld the taxability with regard to interest income on EMI method, which has been consistently followed, there is no reason to take a different view in the matter for the present Assessment years, in this ca…

Sundaram Finance Limited, Chennai vs. Addl. CIT, Chennai

ITA 72/CHNY/2015[2004-05]Status: DisposedITAT Chennai04 Sept 2019AY 2004-05

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./I.T.A.No.72/Chny/2015 ("नधा"रण वष" / Assessment Years: 2004-05) Vs The Joint Commissioner Of Income M/S. Sundaram Finance Ltd., No.21, Pattulos Road, Tax, Chennai – 600 002. Company Range Vi Chennai - 34. Pan: Aaacs 4944A (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./I.T.A.No.73/Chny/2015 ("नधा"रण वष" / Assessment Years: 2005-06) Vs The Addl. Commissioner Of Income M/S. Sundaram Finance Ltd., No.21, Pattulos Road, Tax, Chennai – 600 002. Company Range Vi Chennai - 34. Pan: Aaacs 4944A (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./I.T.A.Nos. 285 & 286/Chny/2015 ("नधा"रण वष" / Assessment Years: 2004-05 & 2005-06) Vs M/S. Sundaram Finance Ltd., The Acit, Ltu-1, No.21, Pattulos Road, Chennai-34. Chennai – 600 002. Pan: Aaacs 4944A (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri R. Vijayaraghavan, Advocate

…in its Book of Accounts on the basis of S.O.D. does not alter the position in the tax in the hands of the assessee. Therefore, the Judgement of Andhra Pradesh High Court in the case of Sri Chakra Financial Services Ltd. Vs. Commissioner of Income Tax [(2013) 350 ITR 398] is distinguishable. 7. On the other hand, since in the case of Ashok Leyland Finance Ltd., (supra) the Coordinate Bench of this Court has upheld the taxability with regard to interest income on EMI method, which has been consistently followed, there is no reason to take a different view in the matter for the present Assessment years, in this ca…

ACIT, Chennai vs. Sundaram Finance Limited, Chennai

ITA 286/CHNY/2015[2005-06]Status: DisposedITAT Chennai04 Sept 2019AY 2005-06

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./I.T.A.No.72/Chny/2015 ("नधा"रण वष" / Assessment Years: 2004-05) Vs The Joint Commissioner Of Income M/S. Sundaram Finance Ltd., No.21, Pattulos Road, Tax, Chennai – 600 002. Company Range Vi Chennai - 34. Pan: Aaacs 4944A (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./I.T.A.No.73/Chny/2015 ("नधा"रण वष" / Assessment Years: 2005-06) Vs The Addl. Commissioner Of Income M/S. Sundaram Finance Ltd., No.21, Pattulos Road, Tax, Chennai – 600 002. Company Range Vi Chennai - 34. Pan: Aaacs 4944A (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./I.T.A.Nos. 285 & 286/Chny/2015 ("नधा"रण वष" / Assessment Years: 2004-05 & 2005-06) Vs M/S. Sundaram Finance Ltd., The Acit, Ltu-1, No.21, Pattulos Road, Chennai-34. Chennai – 600 002. Pan: Aaacs 4944A (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri R. Vijayaraghavan, Advocate

…in its Book of Accounts on the basis of S.O.D. does not alter the position in the tax in the hands of the assessee. Therefore, the Judgement of Andhra Pradesh High Court in the case of Sri Chakra Financial Services Ltd. Vs. Commissioner of Income Tax [(2013) 350 ITR 398] is distinguishable. 7. On the other hand, since in the case of Ashok Leyland Finance Ltd., (supra) the Coordinate Bench of this Court has upheld the taxability with regard to interest income on EMI method, which has been consistently followed, there is no reason to take a different view in the matter for the present Assessment years, in this ca…

ACIT, Chennai vs. Sundaram Finance Limited, Chennai

ITA 285/CHNY/2015[2004-05]Status: DisposedITAT Chennai04 Sept 2019AY 2004-05

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./I.T.A.No.72/Chny/2015 ("नधा"रण वष" / Assessment Years: 2004-05) Vs The Joint Commissioner Of Income M/S. Sundaram Finance Ltd., No.21, Pattulos Road, Tax, Chennai – 600 002. Company Range Vi Chennai - 34. Pan: Aaacs 4944A (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./I.T.A.No.73/Chny/2015 ("नधा"रण वष" / Assessment Years: 2005-06) Vs The Addl. Commissioner Of Income M/S. Sundaram Finance Ltd., No.21, Pattulos Road, Tax, Chennai – 600 002. Company Range Vi Chennai - 34. Pan: Aaacs 4944A (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./I.T.A.Nos. 285 & 286/Chny/2015 ("नधा"रण वष" / Assessment Years: 2004-05 & 2005-06) Vs M/S. Sundaram Finance Ltd., The Acit, Ltu-1, No.21, Pattulos Road, Chennai-34. Chennai – 600 002. Pan: Aaacs 4944A (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri R. Vijayaraghavan, Advocate

…in its Book of Accounts on the basis of S.O.D. does not alter the position in the tax in the hands of the assessee. Therefore, the Judgement of Andhra Pradesh High Court in the case of Sri Chakra Financial Services Ltd. Vs. Commissioner of Income Tax [(2013) 350 ITR 398] is distinguishable. 7. On the other hand, since in the case of Ashok Leyland Finance Ltd., (supra) the Coordinate Bench of this Court has upheld the taxability with regard to interest income on EMI method, which has been consistently followed, there is no reason to take a different view in the matter for the present Assessment years, in this ca…

Sri Chakra Financial Services Ltd. v. Commissioner of Income Tax (350 ITR 398) — Cited in 4 Judgments | BharatTax