Taparia Tools Ltd. v. JCIT

372 ITR 605Supreme Court of India2015#223 most cited

What is Taparia Tools Ltd. v. JCIT authority for?

An expenditure does not automatically become capital in nature merely because it results in some enduring benefit for the assessee; it can be treated as revenue expenditure if incurred for genuine business purposes.

343

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2013 to 2026.

Also referred to as

Taparia Tools Ltd. v. JCIT · 372 ITR 605 · SC · 2015 · section 37(1) · revenue expenditure · capital expenditure · enduring benefit test · deferred revenue expenditure · expenditure disallowance · business expenditure · allowability of expenditure

Also reported as

55 Taxmann.com 361276 CTR 1231 Taxmann 5

Sections most often in play

Section 143(3)Section 37(1)Section 40(a)(ia)Section 263Section 271(1)(c)Section 148Section 14ASection 115JB
Read the full judgment

Issues it is cited on

section 50(1)section 80absection 54esection 80msection 10(33)section 10(15)section 14a(1)section 54eclong-term capital assetsection 36(1)(viii)mat creditdisallowance of interest expenditure

Judgments citing Taparia Tools Ltd. v. JCIT

ACIT, Chennai vs. Sundaram Finance Limited, Chennai

Appeals of the revenue stand partly allowed for statistical purposes

ITA 289/CHNY/2015[2007-08]Status: DisposedITAT Chennai09 Mar 2022AY 2007-08

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./ Ita Nos.74/Chny/2015 (िनधाEरण वषE / Assessment Years: 2006-07) & आयकर अपील सं./ Ita Nos.75/Chny/2015 (िनधाEरण वषE / Assessment Years: 2007-08) & आयकर अपील सं./ Ita Nos.76/Chny/2015 (िनधाEरण वषE / Assessment Years: 2008-09) & आयकर अपील सं./ Ita Nos.77/Chny/2015 (िनधाEरण वषE / Assessment Years: 2009-10) & आयकर अपील सं./ Ita Nos.78/Chny/2015 (िनधाEरण वषE / Assessment Years: 2010-11) M/S. Sundaram Finance Ltd. Acit बनाम/ 21 Patullos Road Large Taxpayer Unit, Vs. Chennai – 600 002. Chennai. "थायी लेखा सं./जीआइ आर सं./Pan/Gir No. Aaacs-4944-A (अपीलाथ"/Appellant) : (""थ" / Respondent) & आयकर अपील सं./ Ita Nos.287 & 288/Chny/2015 (िनधाEरण वषE / Assessment Year: 2006-07) & आयकर अपील सं./ Ita Nos.289 & 290/Chny/2015 (िनधाEरण वषE / Assessment Year: 2007-08) & आयकर अपील सं./ Ita No.291/Chny/2015 (िनधाEरण वषE / Assessment Years: 2008-09) & आयकर अपील सं./ Ita No.292/Chny/2015 (िनधाEरण वषE / Assessment Year: 2009-10) & आयकर अपील सं./ Ita No.293/Chny/2015 (िनधाEरण वषE / Assessment Years: 2010-11) Acit M/S. Sundaram Finance Ltd., बनाम/ Large Taxpayer Unit, 21 Patullos Road Vs. Chennai. Chennai – 600002. "थायी लेखा सं./जीआइ आर सं./Pan/Gir No. Aaacs-4944-A (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ" की ओरसे/ Appellant By : Shri R. Vijayaraghavan (Advocate)-Ld. Ar ""थ" की ओरसे/Respondent By : Shri Kumar Ajeet- Ld. Cit-Dr

For Appellant: Shri R. Vijayaraghavan (Advocate)-Ld. ARFor Respondent: Shri Kumar Ajeet- Ld. CIT-DR
Section 143(3)Section 41(4)

…आयकर अपीलीय अिधकरण ‘बी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHENNAI माननीय -ी महावीर िसंह, उपा34 एवं माननीय -ी मनोज कुमार अ9वाल ,लेखा सद< के सम4। BEFORE HON’BLE SHRI MAHAVIR SINGH, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकर अपील सं./ ITA Nos.74/Chny/2015 (िनधाEरण वषE / Assessment Years: 2006-07) & आयकर अपील सं./ ITA Nos.75/Chny/2015 (िनधाEरण वषE / Assessment Years: 2007-08) & आयकर अपील सं./ ITA Nos.76/Chny/2015 (िनधाEरण वषE / Assessment Years: 2008-09) & आयकर अपील सं./ ITA Nos.77/Chny/2015 (िनधाEरण वषE / Assessment Years: 2009-10) & आयकर अपील सं./ ITA Nos.78/Chny/201…

ACIT, Chennai vs. Sundaram Finance Limited, Chennai

Appeals of the revenue stand partly allowed for statistical purposes

ITA 288/CHNY/2015[2006-07]Status: DisposedITAT Chennai09 Mar 2022AY 2006-07

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./ Ita Nos.74/Chny/2015 (िनधाEरण वषE / Assessment Years: 2006-07) & आयकर अपील सं./ Ita Nos.75/Chny/2015 (िनधाEरण वषE / Assessment Years: 2007-08) & आयकर अपील सं./ Ita Nos.76/Chny/2015 (िनधाEरण वषE / Assessment Years: 2008-09) & आयकर अपील सं./ Ita Nos.77/Chny/2015 (िनधाEरण वषE / Assessment Years: 2009-10) & आयकर अपील सं./ Ita Nos.78/Chny/2015 (िनधाEरण वषE / Assessment Years: 2010-11) M/S. Sundaram Finance Ltd. Acit बनाम/ 21 Patullos Road Large Taxpayer Unit, Vs. Chennai – 600 002. Chennai. "थायी लेखा सं./जीआइ आर सं./Pan/Gir No. Aaacs-4944-A (अपीलाथ"/Appellant) : (""थ" / Respondent) & आयकर अपील सं./ Ita Nos.287 & 288/Chny/2015 (िनधाEरण वषE / Assessment Year: 2006-07) & आयकर अपील सं./ Ita Nos.289 & 290/Chny/2015 (िनधाEरण वषE / Assessment Year: 2007-08) & आयकर अपील सं./ Ita No.291/Chny/2015 (िनधाEरण वषE / Assessment Years: 2008-09) & आयकर अपील सं./ Ita No.292/Chny/2015 (िनधाEरण वषE / Assessment Year: 2009-10) & आयकर अपील सं./ Ita No.293/Chny/2015 (िनधाEरण वषE / Assessment Years: 2010-11) Acit M/S. Sundaram Finance Ltd., बनाम/ Large Taxpayer Unit, 21 Patullos Road Vs. Chennai. Chennai – 600002. "थायी लेखा सं./जीआइ आर सं./Pan/Gir No. Aaacs-4944-A (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ" की ओरसे/ Appellant By : Shri R. Vijayaraghavan (Advocate)-Ld. Ar ""थ" की ओरसे/Respondent By : Shri Kumar Ajeet- Ld. Cit-Dr

For Appellant: Shri R. Vijayaraghavan (Advocate)-Ld. ARFor Respondent: Shri Kumar Ajeet- Ld. CIT-DR
Section 143(3)Section 41(4)

…आयकर अपीलीय अिधकरण ‘बी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHENNAI माननीय -ी महावीर िसंह, उपा34 एवं माननीय -ी मनोज कुमार अ9वाल ,लेखा सद< के सम4। BEFORE HON’BLE SHRI MAHAVIR SINGH, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकर अपील सं./ ITA Nos.74/Chny/2015 (िनधाEरण वषE / Assessment Years: 2006-07) & आयकर अपील सं./ ITA Nos.75/Chny/2015 (िनधाEरण वषE / Assessment Years: 2007-08) & आयकर अपील सं./ ITA Nos.76/Chny/2015 (िनधाEरण वषE / Assessment Years: 2008-09) & आयकर अपील सं./ ITA Nos.77/Chny/2015 (िनधाEरण वषE / Assessment Years: 2009-10) & आयकर अपील सं./ ITA Nos.78/Chny/201…

ACIT, Chennai vs. Sundaram Finance Limited, Chennai

Appeals of the revenue stand partly allowed for statistical purposes

ITA 287/CHNY/2015[2006-07]Status: DisposedITAT Chennai09 Mar 2022AY 2006-07

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./ Ita Nos.74/Chny/2015 (िनधाEरण वषE / Assessment Years: 2006-07) & आयकर अपील सं./ Ita Nos.75/Chny/2015 (िनधाEरण वषE / Assessment Years: 2007-08) & आयकर अपील सं./ Ita Nos.76/Chny/2015 (िनधाEरण वषE / Assessment Years: 2008-09) & आयकर अपील सं./ Ita Nos.77/Chny/2015 (िनधाEरण वषE / Assessment Years: 2009-10) & आयकर अपील सं./ Ita Nos.78/Chny/2015 (िनधाEरण वषE / Assessment Years: 2010-11) M/S. Sundaram Finance Ltd. Acit बनाम/ 21 Patullos Road Large Taxpayer Unit, Vs. Chennai – 600 002. Chennai. "थायी लेखा सं./जीआइ आर सं./Pan/Gir No. Aaacs-4944-A (अपीलाथ"/Appellant) : (""थ" / Respondent) & आयकर अपील सं./ Ita Nos.287 & 288/Chny/2015 (िनधाEरण वषE / Assessment Year: 2006-07) & आयकर अपील सं./ Ita Nos.289 & 290/Chny/2015 (िनधाEरण वषE / Assessment Year: 2007-08) & आयकर अपील सं./ Ita No.291/Chny/2015 (िनधाEरण वषE / Assessment Years: 2008-09) & आयकर अपील सं./ Ita No.292/Chny/2015 (िनधाEरण वषE / Assessment Year: 2009-10) & आयकर अपील सं./ Ita No.293/Chny/2015 (िनधाEरण वषE / Assessment Years: 2010-11) Acit M/S. Sundaram Finance Ltd., बनाम/ Large Taxpayer Unit, 21 Patullos Road Vs. Chennai. Chennai – 600002. "थायी लेखा सं./जीआइ आर सं./Pan/Gir No. Aaacs-4944-A (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ" की ओरसे/ Appellant By : Shri R. Vijayaraghavan (Advocate)-Ld. Ar ""थ" की ओरसे/Respondent By : Shri Kumar Ajeet- Ld. Cit-Dr

For Appellant: Shri R. Vijayaraghavan (Advocate)-Ld. ARFor Respondent: Shri Kumar Ajeet- Ld. CIT-DR
Section 143(3)Section 41(4)

…आयकर अपीलीय अिधकरण ‘बी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHENNAI माननीय -ी महावीर िसंह, उपा34 एवं माननीय -ी मनोज कुमार अ9वाल ,लेखा सद< के सम4। BEFORE HON’BLE SHRI MAHAVIR SINGH, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकर अपील सं./ ITA Nos.74/Chny/2015 (िनधाEरण वषE / Assessment Years: 2006-07) & आयकर अपील सं./ ITA Nos.75/Chny/2015 (िनधाEरण वषE / Assessment Years: 2007-08) & आयकर अपील सं./ ITA Nos.76/Chny/2015 (िनधाEरण वषE / Assessment Years: 2008-09) & आयकर अपील सं./ ITA Nos.77/Chny/2015 (िनधाEरण वषE / Assessment Years: 2009-10) & आयकर अपील सं./ ITA Nos.78/Chny/201…

M/S Fortune Rpj Developers, Thane vs. ACIT Circle-1, Thane

In the result, the appeal of the assessee is dismissed

ITA 478/MUM/2020[2016-17]Status: DisposedITAT Mumbai31 Jan 2022AY 2016-17

Bench: Shri Om Prakash Kant () & Shri Pavan Kumar Gadale ()

Section 143(3)

…1 ITA 478/Mum/2020 IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI PAVAN KUMAR GADALE (JUDICIAL MEMBER) I.T.A. No.478/Mum/2020 (Assessment year 2016-17) M/s Fortune R PJ Developers vs ACIT, Circle-1, Thane 1st Floor, Rathod Bhavan Opp Jain Mandir, Tembhi Naka Thane (W) – 400 601 PAN : AADFF5410E APPELLANT RESPONDENT Assessee represented by Shri Devendra Jain Revenue represented by Shri S.N. Kabra, Sr.DR Date of hearing 06-01-2022 Date of pronouncement 31-01-2022 O R D E R Per O.P. Kant (AM) : This appeal by the assessee is directed against ord…

Soundarya Decorators Pvt. Ltd., Chennai vs. DCIT Corporate Circle 6(2), Chennai

In the result, appeal filed by the assessee for assessment

ITA 335/CHNY/2019[2013-14]Status: DisposedITAT Chennai22 Dec 2021AY 2013-14

Bench: Shri Mahavir Singh, Vice- & Shri G.Manjunatha

For Appellant: Mr. V.S.Jayakumar, AdvFor Respondent: Mr. Abani Kanta Nayak, CIT

…preme Court governs the case on hand which states that the relief can be granted to the assessee if all the details are on record even though the assessee had not made any specific claim for the same per Jute Corporation 187 ITR 688 (SC) and Taparia Tools Ltd 372 ITR 605 (SC).” 4. Brief facts of the case are that the assessee company is carrying on business of manufacturer of modular furniture and interior decoration filed its return of income for assessment year 20012-13 on 29.09.2012 declaring Nil total income. The case was taken up for scrutiny and during the course of assessment expenses incurred for asses…

Soundarya Decorators Pvt. Ltd., Chennai vs. DCIT Corporate Circle 6(2), Chennai

In the result, appeal filed by the assessee for assessment

ITA 334/CHNY/2019[2012-13]Status: DisposedITAT Chennai22 Dec 2021AY 2012-13

Bench: Shri Mahavir Singh, Vice- & Shri G.Manjunatha

For Appellant: Mr. V.S.Jayakumar, AdvFor Respondent: Mr. Abani Kanta Nayak, CIT

…preme Court governs the case on hand which states that the relief can be granted to the assessee if all the details are on record even though the assessee had not made any specific claim for the same per Jute Corporation 187 ITR 688 (SC) and Taparia Tools Ltd 372 ITR 605 (SC).” 4. Brief facts of the case are that the assessee company is carrying on business of manufacturer of modular furniture and interior decoration filed its return of income for assessment year 20012-13 on 29.09.2012 declaring Nil total income. The case was taken up for scrutiny and during the course of assessment expenses incurred for asses…

ACIT Corporate Circle 6(2), Chennai vs. Soundarya Decorators Pvt. Ltd., Chennai

In the result, appeal filed by the assessee for assessment

ITA 302/CHNY/2019[2013-14]Status: DisposedITAT Chennai22 Dec 2021AY 2013-14

Bench: Shri Mahavir Singh, Vice- & Shri G.Manjunatha

For Appellant: Mr. V.S.Jayakumar, AdvFor Respondent: Mr. Abani Kanta Nayak, CIT

…preme Court governs the case on hand which states that the relief can be granted to the assessee if all the details are on record even though the assessee had not made any specific claim for the same per Jute Corporation 187 ITR 688 (SC) and Taparia Tools Ltd 372 ITR 605 (SC).” 4. Brief facts of the case are that the assessee company is carrying on business of manufacturer of modular furniture and interior decoration filed its return of income for assessment year 20012-13 on 29.09.2012 declaring Nil total income. The case was taken up for scrutiny and during the course of assessment expenses incurred for asses…

DCIT, Chennai vs. Malladi Drugs & Pharmaceuticals Ltd., Chennai

In the result, appeal filed by the Revenue in ITA Nos

ITA 882/CHNY/2017[2004-05]Status: DisposedITAT Chennai22 Dec 2021AY 2004-05

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 879, 880, 881, 882, 1254, 1255 & 1256/Chny/2017 िनधा"रण वष" / Assessment Years: 2001-02, 2002-03, 2003-04, 2004-05, 2010-11, 2011-12 & 2012-13 Deputy Commissioner Of Income Malladi Drugs & Tax, V. Pharmaceuticals Limited, Corporate Circle -4(1), No. 9, G.S.T. Road, Chennai. St. Thomas Mount, Chennai – 600 016. [Pan:Aaacm 5031A] आयकर अपील सं./Ita Nos: 1257, 1258 & 1259/Chny/2017 िनधा"रण वष" / Assessment Years: 2010-11, 2011-12 & 2012-13 Malladi Drugs & Pharmaceuticals V. Deputy Commissioner Of Income Limited, Tax, No. 9, G.S.T. Road, Corporate Circle -4(1), St. Thomas Mount, Chennai. Chennai – 600 016. [Pan:Aaacm 5031A] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. Vikram Vijayaraghavan, Advocate Assessee By : Shri. Ar.V. Sreenivasan, Addl. Cit Revenue By सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 22.12.2021 आदेश /O R D E R Per G. Manjunatha:

For Appellant: Shri. AR.V. Sreenivasan, Addl. CIT
Section 28Section 37(1)

…ks of accounts. However, deduction in full has been claimed in respect of total expenditure incurred in the statement of total income. It is a well settled principle of law by the decision of Hon’ble Supreme Court in the case of Taparia Tools Limited vs JCIT, 372 ITR 605 (SC), wherein it was held that there is no estoppel against the law and the Income Tax Act, enables and entitles the assessee to claim the entire expenditure in the manner it is claiming. In this case, the assessee has claimed deduction for sales promotion expenses in the year of incurring such expenditure even though said expenditure has been am…

DCIT, Chennai vs. Malladi Drugs & Pharmaceuticals Ltd., Chennai

In the result, appeal filed by the Revenue in ITA Nos

ITA 881/CHNY/2017[2003-04]Status: DisposedITAT Chennai22 Dec 2021AY 2003-04

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 879, 880, 881, 882, 1254, 1255 & 1256/Chny/2017 िनधा"रण वष" / Assessment Years: 2001-02, 2002-03, 2003-04, 2004-05, 2010-11, 2011-12 & 2012-13 Deputy Commissioner Of Income Malladi Drugs & Tax, V. Pharmaceuticals Limited, Corporate Circle -4(1), No. 9, G.S.T. Road, Chennai. St. Thomas Mount, Chennai – 600 016. [Pan:Aaacm 5031A] आयकर अपील सं./Ita Nos: 1257, 1258 & 1259/Chny/2017 िनधा"रण वष" / Assessment Years: 2010-11, 2011-12 & 2012-13 Malladi Drugs & Pharmaceuticals V. Deputy Commissioner Of Income Limited, Tax, No. 9, G.S.T. Road, Corporate Circle -4(1), St. Thomas Mount, Chennai. Chennai – 600 016. [Pan:Aaacm 5031A] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. Vikram Vijayaraghavan, Advocate Assessee By : Shri. Ar.V. Sreenivasan, Addl. Cit Revenue By सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 22.12.2021 आदेश /O R D E R Per G. Manjunatha:

For Appellant: Shri. AR.V. Sreenivasan, Addl. CIT
Section 28Section 37(1)

…ks of accounts. However, deduction in full has been claimed in respect of total expenditure incurred in the statement of total income. It is a well settled principle of law by the decision of Hon’ble Supreme Court in the case of Taparia Tools Limited vs JCIT, 372 ITR 605 (SC), wherein it was held that there is no estoppel against the law and the Income Tax Act, enables and entitles the assessee to claim the entire expenditure in the manner it is claiming. In this case, the assessee has claimed deduction for sales promotion expenses in the year of incurring such expenditure even though said expenditure has been am…

DCIT, Chennai vs. Malladi Drugs & Pharmaceuticals Ltd., Chennai

In the result, appeal filed by the Revenue in ITA Nos

ITA 880/CHNY/2017[2002-03]Status: DisposedITAT Chennai22 Dec 2021AY 2002-03

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 879, 880, 881, 882, 1254, 1255 & 1256/Chny/2017 िनधा"रण वष" / Assessment Years: 2001-02, 2002-03, 2003-04, 2004-05, 2010-11, 2011-12 & 2012-13 Deputy Commissioner Of Income Malladi Drugs & Tax, V. Pharmaceuticals Limited, Corporate Circle -4(1), No. 9, G.S.T. Road, Chennai. St. Thomas Mount, Chennai – 600 016. [Pan:Aaacm 5031A] आयकर अपील सं./Ita Nos: 1257, 1258 & 1259/Chny/2017 िनधा"रण वष" / Assessment Years: 2010-11, 2011-12 & 2012-13 Malladi Drugs & Pharmaceuticals V. Deputy Commissioner Of Income Limited, Tax, No. 9, G.S.T. Road, Corporate Circle -4(1), St. Thomas Mount, Chennai. Chennai – 600 016. [Pan:Aaacm 5031A] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. Vikram Vijayaraghavan, Advocate Assessee By : Shri. Ar.V. Sreenivasan, Addl. Cit Revenue By सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 22.12.2021 आदेश /O R D E R Per G. Manjunatha:

For Appellant: Shri. AR.V. Sreenivasan, Addl. CIT
Section 28Section 37(1)

…ks of accounts. However, deduction in full has been claimed in respect of total expenditure incurred in the statement of total income. It is a well settled principle of law by the decision of Hon’ble Supreme Court in the case of Taparia Tools Limited vs JCIT, 372 ITR 605 (SC), wherein it was held that there is no estoppel against the law and the Income Tax Act, enables and entitles the assessee to claim the entire expenditure in the manner it is claiming. In this case, the assessee has claimed deduction for sales promotion expenses in the year of incurring such expenditure even though said expenditure has been am…

DCIT, Chennai vs. Malladi Drugs & Pharmaceuticals Ltd., Chennai

In the result, appeal filed by the Revenue in ITA Nos

ITA 879/CHNY/2017[2001-02]Status: DisposedITAT Chennai22 Dec 2021AY 2001-02

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 879, 880, 881, 882, 1254, 1255 & 1256/Chny/2017 िनधा"रण वष" / Assessment Years: 2001-02, 2002-03, 2003-04, 2004-05, 2010-11, 2011-12 & 2012-13 Deputy Commissioner Of Income Malladi Drugs & Tax, V. Pharmaceuticals Limited, Corporate Circle -4(1), No. 9, G.S.T. Road, Chennai. St. Thomas Mount, Chennai – 600 016. [Pan:Aaacm 5031A] आयकर अपील सं./Ita Nos: 1257, 1258 & 1259/Chny/2017 िनधा"रण वष" / Assessment Years: 2010-11, 2011-12 & 2012-13 Malladi Drugs & Pharmaceuticals V. Deputy Commissioner Of Income Limited, Tax, No. 9, G.S.T. Road, Corporate Circle -4(1), St. Thomas Mount, Chennai. Chennai – 600 016. [Pan:Aaacm 5031A] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. Vikram Vijayaraghavan, Advocate Assessee By : Shri. Ar.V. Sreenivasan, Addl. Cit Revenue By सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 22.12.2021 आदेश /O R D E R Per G. Manjunatha:

For Appellant: Shri. AR.V. Sreenivasan, Addl. CIT
Section 28Section 37(1)

…ks of accounts. However, deduction in full has been claimed in respect of total expenditure incurred in the statement of total income. It is a well settled principle of law by the decision of Hon’ble Supreme Court in the case of Taparia Tools Limited vs JCIT, 372 ITR 605 (SC), wherein it was held that there is no estoppel against the law and the Income Tax Act, enables and entitles the assessee to claim the entire expenditure in the manner it is claiming. In this case, the assessee has claimed deduction for sales promotion expenses in the year of incurring such expenditure even though said expenditure has been am…

Malladi Drugs and Pharmaceuticals Limited, Chennai vs. DCIT, Chennai

In the result, appeal filed by the Revenue in ITA Nos

ITA 1259/CHNY/2017[2012-13]Status: DisposedITAT Chennai22 Dec 2021AY 2012-13

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 879, 880, 881, 882, 1254, 1255 & 1256/Chny/2017 िनधा"रण वष" / Assessment Years: 2001-02, 2002-03, 2003-04, 2004-05, 2010-11, 2011-12 & 2012-13 Deputy Commissioner Of Income Malladi Drugs & Tax, V. Pharmaceuticals Limited, Corporate Circle -4(1), No. 9, G.S.T. Road, Chennai. St. Thomas Mount, Chennai – 600 016. [Pan:Aaacm 5031A] आयकर अपील सं./Ita Nos: 1257, 1258 & 1259/Chny/2017 िनधा"रण वष" / Assessment Years: 2010-11, 2011-12 & 2012-13 Malladi Drugs & Pharmaceuticals V. Deputy Commissioner Of Income Limited, Tax, No. 9, G.S.T. Road, Corporate Circle -4(1), St. Thomas Mount, Chennai. Chennai – 600 016. [Pan:Aaacm 5031A] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. Vikram Vijayaraghavan, Advocate Assessee By : Shri. Ar.V. Sreenivasan, Addl. Cit Revenue By सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 22.12.2021 आदेश /O R D E R Per G. Manjunatha:

For Appellant: Shri. AR.V. Sreenivasan, Addl. CIT
Section 28Section 37(1)

…ks of accounts. However, deduction in full has been claimed in respect of total expenditure incurred in the statement of total income. It is a well settled principle of law by the decision of Hon’ble Supreme Court in the case of Taparia Tools Limited vs JCIT, 372 ITR 605 (SC), wherein it was held that there is no estoppel against the law and the Income Tax Act, enables and entitles the assessee to claim the entire expenditure in the manner it is claiming. In this case, the assessee has claimed deduction for sales promotion expenses in the year of incurring such expenditure even though said expenditure has been am…

Malladi Drugs and Pharmaceuticals Limited, Chennai vs. DCIT, Chennai

In the result, appeal filed by the Revenue in ITA Nos

ITA 1258/CHNY/2017[2011-12]Status: DisposedITAT Chennai22 Dec 2021AY 2011-12

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 879, 880, 881, 882, 1254, 1255 & 1256/Chny/2017 िनधा"रण वष" / Assessment Years: 2001-02, 2002-03, 2003-04, 2004-05, 2010-11, 2011-12 & 2012-13 Deputy Commissioner Of Income Malladi Drugs & Tax, V. Pharmaceuticals Limited, Corporate Circle -4(1), No. 9, G.S.T. Road, Chennai. St. Thomas Mount, Chennai – 600 016. [Pan:Aaacm 5031A] आयकर अपील सं./Ita Nos: 1257, 1258 & 1259/Chny/2017 िनधा"रण वष" / Assessment Years: 2010-11, 2011-12 & 2012-13 Malladi Drugs & Pharmaceuticals V. Deputy Commissioner Of Income Limited, Tax, No. 9, G.S.T. Road, Corporate Circle -4(1), St. Thomas Mount, Chennai. Chennai – 600 016. [Pan:Aaacm 5031A] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. Vikram Vijayaraghavan, Advocate Assessee By : Shri. Ar.V. Sreenivasan, Addl. Cit Revenue By सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 22.12.2021 आदेश /O R D E R Per G. Manjunatha:

For Appellant: Shri. AR.V. Sreenivasan, Addl. CIT
Section 28Section 37(1)

…ks of accounts. However, deduction in full has been claimed in respect of total expenditure incurred in the statement of total income. It is a well settled principle of law by the decision of Hon’ble Supreme Court in the case of Taparia Tools Limited vs JCIT, 372 ITR 605 (SC), wherein it was held that there is no estoppel against the law and the Income Tax Act, enables and entitles the assessee to claim the entire expenditure in the manner it is claiming. In this case, the assessee has claimed deduction for sales promotion expenses in the year of incurring such expenditure even though said expenditure has been am…

Malladi Drugs and Pharmaceuticals Limited, Chennai vs. DCIT, Chennai

In the result, appeal filed by the Revenue in ITA Nos

ITA 1257/CHNY/2017[2010-11]Status: DisposedITAT Chennai22 Dec 2021AY 2010-11

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 879, 880, 881, 882, 1254, 1255 & 1256/Chny/2017 िनधा"रण वष" / Assessment Years: 2001-02, 2002-03, 2003-04, 2004-05, 2010-11, 2011-12 & 2012-13 Deputy Commissioner Of Income Malladi Drugs & Tax, V. Pharmaceuticals Limited, Corporate Circle -4(1), No. 9, G.S.T. Road, Chennai. St. Thomas Mount, Chennai – 600 016. [Pan:Aaacm 5031A] आयकर अपील सं./Ita Nos: 1257, 1258 & 1259/Chny/2017 िनधा"रण वष" / Assessment Years: 2010-11, 2011-12 & 2012-13 Malladi Drugs & Pharmaceuticals V. Deputy Commissioner Of Income Limited, Tax, No. 9, G.S.T. Road, Corporate Circle -4(1), St. Thomas Mount, Chennai. Chennai – 600 016. [Pan:Aaacm 5031A] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. Vikram Vijayaraghavan, Advocate Assessee By : Shri. Ar.V. Sreenivasan, Addl. Cit Revenue By सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 22.12.2021 आदेश /O R D E R Per G. Manjunatha:

For Appellant: Shri. AR.V. Sreenivasan, Addl. CIT
Section 28Section 37(1)

…ks of accounts. However, deduction in full has been claimed in respect of total expenditure incurred in the statement of total income. It is a well settled principle of law by the decision of Hon’ble Supreme Court in the case of Taparia Tools Limited vs JCIT, 372 ITR 605 (SC), wherein it was held that there is no estoppel against the law and the Income Tax Act, enables and entitles the assessee to claim the entire expenditure in the manner it is claiming. In this case, the assessee has claimed deduction for sales promotion expenses in the year of incurring such expenditure even though said expenditure has been am…

DCIT, Chennai vs. Malladi Drugs & Pharmaceuticals Ltd., Chennai

In the result, appeal filed by the Revenue in ITA Nos

ITA 1256/CHNY/2017[2012-13]Status: DisposedITAT Chennai22 Dec 2021AY 2012-13

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 879, 880, 881, 882, 1254, 1255 & 1256/Chny/2017 िनधा"रण वष" / Assessment Years: 2001-02, 2002-03, 2003-04, 2004-05, 2010-11, 2011-12 & 2012-13 Deputy Commissioner Of Income Malladi Drugs & Tax, V. Pharmaceuticals Limited, Corporate Circle -4(1), No. 9, G.S.T. Road, Chennai. St. Thomas Mount, Chennai – 600 016. [Pan:Aaacm 5031A] आयकर अपील सं./Ita Nos: 1257, 1258 & 1259/Chny/2017 िनधा"रण वष" / Assessment Years: 2010-11, 2011-12 & 2012-13 Malladi Drugs & Pharmaceuticals V. Deputy Commissioner Of Income Limited, Tax, No. 9, G.S.T. Road, Corporate Circle -4(1), St. Thomas Mount, Chennai. Chennai – 600 016. [Pan:Aaacm 5031A] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. Vikram Vijayaraghavan, Advocate Assessee By : Shri. Ar.V. Sreenivasan, Addl. Cit Revenue By सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 22.12.2021 आदेश /O R D E R Per G. Manjunatha:

For Appellant: Shri. AR.V. Sreenivasan, Addl. CIT
Section 28Section 37(1)

…ks of accounts. However, deduction in full has been claimed in respect of total expenditure incurred in the statement of total income. It is a well settled principle of law by the decision of Hon’ble Supreme Court in the case of Taparia Tools Limited vs JCIT, 372 ITR 605 (SC), wherein it was held that there is no estoppel against the law and the Income Tax Act, enables and entitles the assessee to claim the entire expenditure in the manner it is claiming. In this case, the assessee has claimed deduction for sales promotion expenses in the year of incurring such expenditure even though said expenditure has been am…

DCIT, Chennai vs. Malladi Drugs & Pharmaceuticals Ltd., Chennai

In the result, appeal filed by the Revenue in ITA Nos

ITA 1255/CHNY/2017[2011-12]Status: DisposedITAT Chennai22 Dec 2021AY 2011-12

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 879, 880, 881, 882, 1254, 1255 & 1256/Chny/2017 िनधा"रण वष" / Assessment Years: 2001-02, 2002-03, 2003-04, 2004-05, 2010-11, 2011-12 & 2012-13 Deputy Commissioner Of Income Malladi Drugs & Tax, V. Pharmaceuticals Limited, Corporate Circle -4(1), No. 9, G.S.T. Road, Chennai. St. Thomas Mount, Chennai – 600 016. [Pan:Aaacm 5031A] आयकर अपील सं./Ita Nos: 1257, 1258 & 1259/Chny/2017 िनधा"रण वष" / Assessment Years: 2010-11, 2011-12 & 2012-13 Malladi Drugs & Pharmaceuticals V. Deputy Commissioner Of Income Limited, Tax, No. 9, G.S.T. Road, Corporate Circle -4(1), St. Thomas Mount, Chennai. Chennai – 600 016. [Pan:Aaacm 5031A] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. Vikram Vijayaraghavan, Advocate Assessee By : Shri. Ar.V. Sreenivasan, Addl. Cit Revenue By सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 22.12.2021 आदेश /O R D E R Per G. Manjunatha:

For Appellant: Shri. AR.V. Sreenivasan, Addl. CIT
Section 28Section 37(1)

…ks of accounts. However, deduction in full has been claimed in respect of total expenditure incurred in the statement of total income. It is a well settled principle of law by the decision of Hon’ble Supreme Court in the case of Taparia Tools Limited vs JCIT, 372 ITR 605 (SC), wherein it was held that there is no estoppel against the law and the Income Tax Act, enables and entitles the assessee to claim the entire expenditure in the manner it is claiming. In this case, the assessee has claimed deduction for sales promotion expenses in the year of incurring such expenditure even though said expenditure has been am…

DCIT, Chennai vs. Malladi Drugs & Pharmaceuticals Ltd., Chennai

In the result, appeal filed by the Revenue in ITA Nos

ITA 1254/CHNY/2017[2010-11]Status: DisposedITAT Chennai22 Dec 2021AY 2010-11

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 879, 880, 881, 882, 1254, 1255 & 1256/Chny/2017 िनधा"रण वष" / Assessment Years: 2001-02, 2002-03, 2003-04, 2004-05, 2010-11, 2011-12 & 2012-13 Deputy Commissioner Of Income Malladi Drugs & Tax, V. Pharmaceuticals Limited, Corporate Circle -4(1), No. 9, G.S.T. Road, Chennai. St. Thomas Mount, Chennai – 600 016. [Pan:Aaacm 5031A] आयकर अपील सं./Ita Nos: 1257, 1258 & 1259/Chny/2017 िनधा"रण वष" / Assessment Years: 2010-11, 2011-12 & 2012-13 Malladi Drugs & Pharmaceuticals V. Deputy Commissioner Of Income Limited, Tax, No. 9, G.S.T. Road, Corporate Circle -4(1), St. Thomas Mount, Chennai. Chennai – 600 016. [Pan:Aaacm 5031A] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. Vikram Vijayaraghavan, Advocate Assessee By : Shri. Ar.V. Sreenivasan, Addl. Cit Revenue By सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 22.12.2021 आदेश /O R D E R Per G. Manjunatha:

For Appellant: Shri. AR.V. Sreenivasan, Addl. CIT
Section 28Section 37(1)

…ks of accounts. However, deduction in full has been claimed in respect of total expenditure incurred in the statement of total income. It is a well settled principle of law by the decision of Hon’ble Supreme Court in the case of Taparia Tools Limited vs JCIT, 372 ITR 605 (SC), wherein it was held that there is no estoppel against the law and the Income Tax Act, enables and entitles the assessee to claim the entire expenditure in the manner it is claiming. In this case, the assessee has claimed deduction for sales promotion expenses in the year of incurring such expenditure even though said expenditure has been am…

ITO, Corporate Ward -1 (1), Chennai vs. M/S. Assr Infrastructure Pvt. Ltd., Chennai

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

ITA 3325/CHNY/2019[2015-16]Status: DisposedITAT Chennai30 Nov 2021AY 2015-16

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita No.: 3325/Chny/2019 िनधा"रण वष" / Assessment Year: 2015-16 Income Tax Officer, M/S. Assr Infrastructure Pvt Corporate Ward -1(1), V. Ltd., Chennai – 600 034. No. 6, Padmanabha Nagar, 2Nd Street, Adayar, Chennai – 600 020. [Pan: Aajca 5333J] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Ar V Sreenivasan, Addl. Cit ""यथ" क" ओर से/Respondent By : Shri. V R Vasanthanarayanan, Fca सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 30.11.2021 आदेश /O R D E R

For Appellant: Shri. AR V Sreenivasan, Addl. CITFor Respondent: Shri. V R Vasanthanarayanan, FCA
Section 36(1)Section 36(1)(iii)

…ctable as and when such interest is paid. 5. The Ld. CIT(A) after considering the submissions of the assessee and also by relying upon certain judicial precedents including the decision of Hon’ble Supreme Court in the case of Taparia Tools Ltd Vs JCIT (2015) 372 ITR 605 (SC) observed that the assessee has borrowed loan for the purchase of land and project and the same was treated as current asset in the books of accounts of the assessee and thus, interest paid on loan borrowed for the purpose of business or profession needs to be allowed as and when such interest was paid. Therefore, :-6-: ITA. No: 3325/Chny/2…

ACIT, Bangalore vs. M/S Shriram Chits (Karnataka) Pvt. Ltd., Bangalore

In the result, the appeal is disposed of

ITA 1314/BANG/2012[2003-04]Status: HeardITAT Bangalore30 Nov 2021AY 2003-04

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Respondent: Sri. Chetan R., Addl.CIT-DR
Section 14Section 143(3)Section 147Section 148Section 260A

…of 2012 restored the issue of deduction claimed for bid loss to the files of the A.O. for de novo consideration. The Hon’ble High Court directed the A.O. to follow the dictum laid down by the Hon’ble Apex Court in the case of Taparia Tools v. JCIT reported in 372 ITR 605 (SC). The relevant finding of the Hon’ble High Court in assessee’s own case for assessment year 2005-2006, reads as follows:- “6. We have considered the submissions made by learned counsel for the parties and have perused the record. The M/s.Shriram, Chits (Karnataka) Pvt. Ltd. Commissioner of Income Tax (Appeals) has placed reliance on the deci…

Shriram Chits (Karnataka) Pvt. Ltd., Bangalore vs. ACIT, Bangalore

In the result, the appeal is disposed of

ITA 1281/BANG/2012[2003-04]Status: HeardITAT Bangalore30 Nov 2021AY 2003-04

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Respondent: Sri. Chetan R., Addl.CIT-DR
Section 14Section 143(3)Section 147Section 148Section 260A

…of 2012 restored the issue of deduction claimed for bid loss to the files of the A.O. for de novo consideration. The Hon’ble High Court directed the A.O. to follow the dictum laid down by the Hon’ble Apex Court in the case of Taparia Tools v. JCIT reported in 372 ITR 605 (SC). The relevant finding of the Hon’ble High Court in assessee’s own case for assessment year 2005-2006, reads as follows:- “6. We have considered the submissions made by learned counsel for the parties and have perused the record. The M/s.Shriram, Chits (Karnataka) Pvt. Ltd. Commissioner of Income Tax (Appeals) has placed reliance on the deci…