Swagat Infrastructure Ltd. v. JCIT

37 Taxmann.com 83Income Tax Appellate Tribunal2013#9204 most cited

What is Swagat Infrastructure Ltd. v. JCIT authority for?

Disallowance of interest expenses claimed as a deduction is not warranted when the assessee has sufficient own funds to cover the advances made to sister concerns, even if the advances are interest-free.

12

judgments rely on this decision, according to BharatTax’s citation analysis of 366,315 Indian tax judgments — from 2018 to 2024.

Also referred to as

Swagat Infrastructure Ltd. · JCIT · ITAT Ahmedabad · interest expense deduction · own funds · advances to sister concerns · disallowance · Section 37(1) · Section 36(1)(iii)

Judgments citing Swagat Infrastructure Ltd. v. JCIT

Harsh Nareshbhai Patel, Ahmedabad vs. The Income Tax Officer, Ward-3(3)(2), Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 332/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad04 Dec 2024AY 2017-18

Bench: Dr. Brr Kumar & Ms Suchitra Kambleआयकर अपील सं./Ita No. 332/Ahd/2024 िनधा"रण वष"/Asstt. Year: 2017-2018 Harsh Nareshbhai Patel, The Income Tax Officer, C/O. Ms Chhajed & Co. Ca, बनामVs Ward 3(3)(2), . “Kamal Shanti”, Ahmedabad. Near Sardar Patel Statue, Ahmedabad-380014. Pan: Bocpp1618C

For Appellant: Ms Preyashi Tated, ARFor Respondent: Shri C Dharani Nath, Sr. DR
Section 143(2)Section 57

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ , अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “ SMC ” BENCH, AHMEDABAD ] BEFORE DR. BRR KUMAR, VICE PRESIDENT And MS SUCHITRA KAMBLE, JUDICIAL MEMBER आयकर अपील सं./ITA No. 332/AHD/2024 िनधा"रण वष"/Asstt. Year: 2017-2018 Harsh Nareshbhai Patel, The Income Tax Officer, C/O. MS Chhajed & Co. CA, बनामVs Ward 3(3)(2), . “Kamal Shanti”, Ahmedabad. Near Sardar Patel Statue, Ahmedabad-380014. PAN: BOCPP1618C (अपीलाथ" /Appellant ( ""यथ" /Respondent) Assessee by : Ms Preyashi Tated, AR Revenue by : Shri C Dharani Nath, Sr. DR सुनवाई क" तारीख/Date of Hearing : 19/11/2024 घोषणा क"…

Guardian Nutrition & Health Supplements Pvt. Ltd., New Delhi vs. DCIT, Circle- 10(2), New Delhi

Appeal of the assessee is dismissed

ITA 6738/DEL/2017[2012-13]Status: DisposedITAT Delhi21 Nov 2022AY 2012-13

Bench: Shri Narendra Kumar Billaiya & Shri Kul Bharat[Assessment Year: 2012-13

Section 143(3)Section 36(1)(iii)Section 40

…1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”: NEW DELHI BEFORE SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER AND SHRI KUL BHARAT, JUDICIAL MEMBER [Assessment Year: 2012-13 M/s Guardian Nutrition & Health Supplements Vs DCIT, Circle 10(2), Pvt. Ltd., New Delhi. A-258, Phase-I, Okhla Industrial Area, New Delhi-110020. PAN:AACCG2848K APPELLANT RESPONDENT Assessee represented by None Department represented by Sh. Anuj Garg, Sr. DR Date of hearing 21.11.2022 Date of pronouncement 21.11.2022 O R D E R PER KUL BHARAT, JM: This appeal, by the assessee, is directed against the order of the learned Commiss…

Kifs Securities Pvt. Ltd., Ahmedabad vs. The ACIT, Circle-1(3), Ahmedabad

In the result Ground No.9 of the revenue is allowed for

ITA 63/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2013-14

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

…KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD BENCH, AHMEDABAD BEFORE HON'BLE JUSTICE P.P.BHATT, PRESIDENT AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER ITA No 643/Ahd/2014 & ITA No 2717/Ahd/2014 Assessment Years 2010-11 & 2011-12 PAN : AAACK6128Q KIFS Securities Ltd, V/s JCIT, Range-3, B-81, Parisheema Complex, Ahmedabad C.G. Road, Ahmedabad (Appellant) (Respondent) Assessment Year 2010-11 PAN AAACK6128Q DCIT, Circle-3, V/s Khandwala Integrated Ahmedabad Financ…

Kifs Securities Pvt. Ltd., Ahmedabad vs. The ACIT, Circle-1(3), Ahmedabad

In the result Ground No.9 of the revenue is allowed for

ITA 1885/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2014-15

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

…KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD BENCH, AHMEDABAD BEFORE HON'BLE JUSTICE P.P.BHATT, PRESIDENT AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER ITA No 643/Ahd/2014 & ITA No 2717/Ahd/2014 Assessment Years 2010-11 & 2011-12 PAN : AAACK6128Q KIFS Securities Ltd, V/s JCIT, Range-3, B-81, Parisheema Complex, Ahmedabad C.G. Road, Ahmedabad (Appellant) (Respondent) Assessment Year 2010-11 PAN AAACK6128Q DCIT, Circle-3, V/s Khandwala Integrated Ahmedabad Financ…

Dy.Commissioner of Income Tax Circle-1(3), Ahmedabad vs. Kifs Pvt.Ltd., Ahmedabad

In the result Ground No.9 of the revenue is allowed for

ITA 914/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2012-13

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

…KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD BENCH, AHMEDABAD BEFORE HON'BLE JUSTICE P.P.BHATT, PRESIDENT AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER ITA No 643/Ahd/2014 & ITA No 2717/Ahd/2014 Assessment Years 2010-11 & 2011-12 PAN : AAACK6128Q KIFS Securities Ltd, V/s JCIT, Range-3, B-81, Parisheema Complex, Ahmedabad C.G. Road, Ahmedabad (Appellant) (Respondent) Assessment Year 2010-11 PAN AAACK6128Q DCIT, Circle-3, V/s Khandwala Integrated Ahmedabad Financ…

Kifs Securities Pvt. Ltd., Ahmedabad vs. The ACIT, Circle-1(3), Ahmedabad

In the result Ground No.9 of the revenue is allowed for

ITA 786/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2012-13

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

…KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD BENCH, AHMEDABAD BEFORE HON'BLE JUSTICE P.P.BHATT, PRESIDENT AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER ITA No 643/Ahd/2014 & ITA No 2717/Ahd/2014 Assessment Years 2010-11 & 2011-12 PAN : AAACK6128Q KIFS Securities Ltd, V/s JCIT, Range-3, B-81, Parisheema Complex, Ahmedabad C.G. Road, Ahmedabad (Appellant) (Respondent) Assessment Year 2010-11 PAN AAACK6128Q DCIT, Circle-3, V/s Khandwala Integrated Ahmedabad Financ…

The Dy. CIT., Circle-3, Ahmedabad vs. Khandwala Integrated Financial Services Pvt. Ltd, Ahmedabad

In the result Ground No.9 of the revenue is allowed for

ITA 932/AHD/2014[2010-11]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2010-11

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

…KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD BENCH, AHMEDABAD BEFORE HON'BLE JUSTICE P.P.BHATT, PRESIDENT AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER ITA No 643/Ahd/2014 & ITA No 2717/Ahd/2014 Assessment Years 2010-11 & 2011-12 PAN : AAACK6128Q KIFS Securities Ltd, V/s JCIT, Range-3, B-81, Parisheema Complex, Ahmedabad C.G. Road, Ahmedabad (Appellant) (Respondent) Assessment Year 2010-11 PAN AAACK6128Q DCIT, Circle-3, V/s Khandwala Integrated Ahmedabad Financ…

Kifs Securities Ltd., Ahmedabad vs. The Jt.CIT, Range- 3, Ahmedabad

In the result Ground No.9 of the revenue is allowed for

ITA 643/AHD/2014[2010-11]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2010-11

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

…KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD BENCH, AHMEDABAD BEFORE HON'BLE JUSTICE P.P.BHATT, PRESIDENT AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER ITA No 643/Ahd/2014 & ITA No 2717/Ahd/2014 Assessment Years 2010-11 & 2011-12 PAN : AAACK6128Q KIFS Securities Ltd, V/s JCIT, Range-3, B-81, Parisheema Complex, Ahmedabad C.G. Road, Ahmedabad (Appellant) (Respondent) Assessment Year 2010-11 PAN AAACK6128Q DCIT, Circle-3, V/s Khandwala Integrated Ahmedabad Financ…

The ACIT, Circle-3, Ahmedabad vs. Kifs Securities Limited, Ahmedabad

In the result Ground No.9 of the revenue is allowed for

ITA 2882/AHD/2014[2011-12]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2011-12

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

…KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD BENCH, AHMEDABAD BEFORE HON'BLE JUSTICE P.P.BHATT, PRESIDENT AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER ITA No 643/Ahd/2014 & ITA No 2717/Ahd/2014 Assessment Years 2010-11 & 2011-12 PAN : AAACK6128Q KIFS Securities Ltd, V/s JCIT, Range-3, B-81, Parisheema Complex, Ahmedabad C.G. Road, Ahmedabad (Appellant) (Respondent) Assessment Year 2010-11 PAN AAACK6128Q DCIT, Circle-3, V/s Khandwala Integrated Ahmedabad Financ…

Kifs Securities Ltd., Ahmedabad vs. The Jt.CIT, Range- 3, Ahmedabad

In the result Ground No.9 of the revenue is allowed for

ITA 2717/AHD/2014[2011-12]Status: DisposedITAT Ahmedabad29 Nov 2019AY 2011-12

Bench: Hon'Ble Justice P.P.Bhatt & Hon'Ble Manish Borad

Section 111ASection 143(3)Section 14ASection 43B

…KIFS Securities Ltd & Khandwala Integrated Financial Services P. Ltd, ITA Nos.643, 2717, 2882/Ahd/14, 786, 914/Ahd/16,63,1885/Ahd/17 & 932/Ahd/2014 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD BENCH, AHMEDABAD BEFORE HON'BLE JUSTICE P.P.BHATT, PRESIDENT AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER ITA No 643/Ahd/2014 & ITA No 2717/Ahd/2014 Assessment Years 2010-11 & 2011-12 PAN : AAACK6128Q KIFS Securities Ltd, V/s JCIT, Range-3, B-81, Parisheema Complex, Ahmedabad C.G. Road, Ahmedabad (Appellant) (Respondent) Assessment Year 2010-11 PAN AAACK6128Q DCIT, Circle-3, V/s Khandwala Integrated Ahmedabad Financ…

ACIT, New Delhi vs. M/S. National Cable Industries, New Delhi

Appeal is allowed

ITA 4145/DEL/2015[2010-11]Status: DisposedITAT Delhi26 Sept 2019AY 2010-11

Bench: Ms Suchitra Kamble & Shri Prashant Maharishii.T.A. No. 4145/Del/2015 (A.Y. 2010-11)

Section 133ASection 143(3)Section 145(3)Section 154Section 154(3)Section 37Section 37(1)

…1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘B’ NEW DELHI BEFORE MS SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER I.T.A. No. 4145/DEL/2015 (A.Y. 2010-11) ACIT Vs. National Cable Industries Circle-52(1), Room No. 1405, K-51, Connaught Circus 14th Floor, E-2 Block, Dr. S.P. New Delhi Mukherjee Civic Centre PAN : AAAFN5132E New Delhi (APPELLANT) (RESPONDENT) Appellant by Sh. Surendra Meena, Sr. DR Respondent by Sh. Rakesh Gupta, Adv. Date of Hearing 05.08.2019 Date of Pronouncement 26.09.2019 ORDER PER SUCHITRA KAMBLE, JM This appeal is filed against the order dat…

Arshiya Ftwz Ltd, Mumbai vs. Asst CIT Cir 8(1), Mumbai

In the result, the appeal is partly allowed

ITA 2804/MUM/2014[2007-08]Status: DisposedITAT Mumbai14 Feb 2018AY 2007-08

Bench: Shri D.T. Garasia () & Shri N.K. Pradhan () Assessment Year: 2010-11 M/S Arshiya Ftwz Ltd., Acit-8(1), 402, Level-4, Ceejay House, Aayakar Bhavan, Vs. Shiv Sagar Estate, F-Block, Dr. Mumbai. Annie Besant Road, Worli, Mumbai-400018 Pan No. Aagca7862D Appellant Respondent Assessee By : Mr. Navnit Chaudhary, Ar Revenue By : Mr.Rajesh Kumar Yadav, Sr. Dr Date Of Hearing : 28/12/2017 Date Of Pronouncement : 14/02/2018

For Appellant: Mr. Navnit Chaudhary, ARFor Respondent: Mr.Rajesh Kumar Yadav, Sr. DR
Section 143(3)Section 14ASection 36(1)(iii)Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A” MUMBAI BEFORE SHRI D.T. GARASIA (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2010-11 M/s Arshiya FTWZ Ltd., ACIT-8(1), 402, Level-4, Ceejay House, Aayakar Bhavan, Vs. Shiv Sagar Estate, F-Block, Dr. Mumbai. Annie Besant Road, Worli, Mumbai-400018 PAN No. AAGCA7862D Appellant Respondent Assessee by : Mr. Navnit Chaudhary, AR Revenue by : Mr.Rajesh Kumar Yadav, Sr. DR Date of Hearing : 28/12/2017 Date of pronouncement : 14/02/2018 ORDER PER N.K. PRADHAN, AM This is an appeal filed by the assessee. The relevant assessment year…

Swagat Infrastructure Ltd. v. JCIT (37 Taxmann.com 83) — Cited in 12 Judgments | BharatTax