How many judgments cite Tata Chemicals Ltd. v. CIT?

86 judgments on BharatTax cite Tata Chemicals Ltd. v. CIT (256 ITR 395), spanning 2012 to 2024.

Tata Chemicals Ltd. v. CIT

256 ITR 395High Court2002#1322 most cited

What is Tata Chemicals Ltd. v. CIT authority for?

Interest on borrowings for business purposes is an allowable deduction under section 36(1)(iii) even if capitalized in the books of account. Modifications in business records for accurate accounting do not automatically imply fraudulent intent.

judgments rely on this decision, according to BharatTax’s citation analysis of 366,418 Indian tax judgments — from 2012 to 2024.

Also referred to as

Tata Chemicals Ltd v CIT · section 36(1)(iii) · capitalization of interest · allowability of interest deduction · business investment · accurate accounting · fraudulent intent · modified bills · damaged goods

Issues it is cited on

section 153b(i)(a)section 132(8)section 132(9a)section 153(1)(a)section 145a valuation of shares section 65b section 65 section 153(1)icds dumb documents section 153b

Judgments citing Tata Chemicals Ltd. v. CIT

Glaxosmithkline Asia (P) Ltd., Gurgaon vs. ACIT, Chandigarh

In the result, appeal of the Assessee is allowed for statistical purposes

ITA 1323/CHANDI/2012[2003-04]Status: DisposedITAT Chandigarh28 Sept 2018AY 2003-04

For Appellant: Sh. Neeraj Jain (C.A), Sh. Abhishek Mukherjee (C.A)For Respondent: Dr. Gulshan Raj

Section 143(3)

…of funds, common management, etc. would be allowable revenue deduction: - CIT v. Relaxo Footwears Ltd: 293 ITR 231 (Del.) - Enpro India Ltd. vs. DCIT: 113 Taxman 132 (Del.) - Jay Engineering Works Ltd. v. CIT: 311 ITR 405 (Del.) - CIT v. Tata Chemicals Ltd: 256 ITR 395 (Bom.) - Addl. CIT v. Aniline Dye Stuffs & Pharmaceuticals Pvt. Ltd.: 138 ITR 843(Bom) - Kesoram Industries and Cotton Mills Ltd vs CIT: 196 ITR 845 (Cal.) - Hindustan Aluminim Corporation Ltd. v. CIT: 159 ITR 673 (Cal.) - CIT v. Rane (Madras) Ltd.: 215 CTR 250 (Chenn.) - Prem Spinning and Weaving Mills Co. Ltd. v. CIT : 98 ITR 20 (All.) - CIT v…

DCIT, New Delhi vs. M/S. Bokaro Power Supply Co. Ltd., New Delhi

In the result, appeal of the assessee is partly allowed whereas the appeal of the Revenue is dismissed

ITA 3692/DEL/2014[2010-11]Status: DisposedITAT Delhi31 Oct 2017AY 2010-11

Bench: Sh. Amit Shukla & Sh. O.P. Kantassessment Year: 2010-11 Vs. Dcit, Circle -3(1), New Delhi M/S. Bokaro Power Supply Co. Ltd., Ispat Bhavan, Lodhi Road, New Delhi Pan : Aabcb8976G (Appellant) (Respondent) & Assessment Year: 2010-11 Vs. M/S. Bokaro Power Supply Co. Dcit, Circle -3(1), New Delhi Ltd., 4Th Floor, Ispat Bhavan, Lodhi Road, New Delhi Pan : Aabcb8976G (Appellant) (Respondent) Assessee By Sh. M.P. Rastogi, Adv. & Sh. Anil Sharma, Agm Respondent By Sh. Sandip Kumar Mishra, Sr.Dr Date Of Hearing 11.10.2017 Date Of Pronouncement 31.10.2017 Order Per O.P. Kant, A.M.:

Section 143(2)Section 143(3)Section 43B

…s Revenue expenditure in terms of Section 36(1) of the Act & various judgment notable among them being that of India Cements Ltd. Vs. CIT(1966) 60 ITR 52(SC); CIT Vs. Alembic Glass Industries Ltd. (1976) 103 ITR 715 (Guj.) & CIT Vs. Tata Chemicals Ltd. (2002) 256 ITR 395 (Bom.), according to which, the whole of the interest, was a ‘Revenue’ expense. However, on account of the amendment brought in section 36(1)(iii), interest incurred in respect of an asset not put to use is not a Revenue expenditure. Accordingly, the interest expense of Rs.471.39 before adjustments of credit relating to expansion was capitalized…

Bokaro Power Supply Co. Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the assessee is partly allowed whereas the appeal of the Revenue is dismissed

ITA 3405/DEL/2014[2010-11]Status: DisposedITAT Delhi31 Oct 2017AY 2010-11

Section 143(2)Section 143(3)Section 43B

Hero Motocorp Limited, New Delhi vs. JCIT, New Delhi

In the result appeal of the assessee in ITA No

ITA 1545/DEL/2015[2010-11]Status: DisposedITAT Delhi24 Oct 2016AY 2010-11

Bench: Sh. I. C. Sudhir & Shri Prashant Maharishihero Motocorp Limited, Jcit, 34, Basant Lok, Vasant Range-1, New Delhi Vs. Vihar, New Delhi Pan: Aaach0812J (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community Vs. New Delhi Centre, Basant Lok, Vasant Vihar, New Delhi-110057 (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. NC Sawain, CIT DR

Section 143Section 143(3)Section 144CSection 92C

…eering Works Ltd. v. CIT: 311 ITR 405 (Del.) Hero MotoCorp Limited Vs. JCIT & DCIT Vs. Hero MotoCorp Ltd. ITA Nos. 1545/Del/2015 and 2424/Del/2015 (AY 2010-11) ITA No. 1609/Del/2016 and 914/Del/2016 (AY 2011-12) Page 426 of 484 (v) CIT v. Tata Chemicals Ltd: 256 ITR 395 (Bom.) (vi) Addl. CIT v. Aniline Dye Stuffs & Pharmaceuticals Pvt. Ltd.: 138 ITR 843(Bom) (vii) Kesoram Industries and Cotton Mills Ltd vs CIT: 196 ITR 845 (Cal .) (viii) Hindustan Aluminim Corporation Ltd. v. CIT: 159 ITR 673 (Cal.) (ix) CIT v. Rane (Madras) Ltd.: 215 CTR 250 (Chenn.) (x) Prem Spinning and Weaving Mills Co. Ltd. v. CIT : 98 ITR…

M/S. D.B.S. Financial Services P. Ltd vs. The ACIT Cir 3(1)

In the result, the appeals filed by the Revenue are dismissed and the appeals filed by the assessee are partly allowed for statistical purpose

ITA 2144/MUM/2004[1993-1994]Status: DisposedITAT Mumbai23 Mar 2016AY 1993-1994

Bench: Shri C.N. Prasad & Shri Ashwani Tanejaआयकर अपील सं /I.Ta No.2269/Mum/2004 ("नधा"रण वष" / Assessment Year: 1993-94 आयकर अपील सं /I.Ta No.3543/Mum/2004 ("नधा"रण वष" / Assessment Year: 1997-98 आयकर अपील सं /I.Ta No.3544/Mum/2004 ("नधा"रण वष" / Assessment Year: 1998-99 आयकर अपील सं /I.Ta No.4675/Mum/2004 ("नधा"रण वष" / Assessment Year: 1999-2000 आयकर अपील सं /I.Ta No.314/Mum/2008 ("नधा"रण वष" / Assessment Year: 2004-05 बनाम/ The Dy. Commissioner Of M/S. Dbs Financial Services Income Tax, Range 3(1), Pvt. Ltd., Vs. Aayakar Bhavan, Raheja Chambers, 2Nd Floor, Mumbai-400 020 213, Nariman Point, Mumbai-400 021 आयकर अपील सं /I.Ta Nos.2144 To 2146 & 3541/Mum/2004 "नधा"रण वष"/ Assessment Years:1993-94 To 1995-96&1997-98 बनाम/ M/S. Dbs Financial The Dy. Commissioner Of Services Pvt. Ltd., Income Tax, Range 3(1), Vs. Raheja Chambers, 2Nd Aayakar Bhavan, Floor, Mumbai-400 020 213, Nariman Point, Mumbai-400 021 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaacd 0540P (अपीलाथ" /Applicant) (""यथ" / Respondent) .. अपीलाथ" ओर से/ Department By: Shri Niraj Sheth

For Appellant: Shri Ashish HeliwalFor Respondent: Shri Niraj Sheth

…the assessee which the Ld. CIT(A) confirmed the endorsing the view of the Assessing Officer. 26. The Ld. Counsel for the assessee placing reliance on the decision of the Bombay High Court in the case of CIT Vs Tata 10 DBS Financial Services Chemicals Ltd. (256 ITR 395) submits that this expenditure has to be allowed because it was incurred for the existing business and not for the new project. 27. The Ld. Departmental Representative strongly placed reliance on the orders of the lower authorities. 28. Heard both sides and perused the orders of the lower authorities and the decision relied on by the Ld. Counse…

CIT vs. Hindustan Times Ltd

Appeal is partly allowed, to the extent it covers the first two questions;

ITA - 95 / 2011HC Delhi14 Sept 2012

…ttracted. 6. The assessee’s appeals were allowed by the ITAT. It was held that the proposed insurance business expenditure amounted to expenditure in respect of an existing business. The Tribunal relied upon the judgment reported as CIT v. Tata Chemicals 256 ITR 395; Produce Exchange Corporation Ltd. v. Commissioner of Income-tax 77 ITR 739; Jay Engineering Works Ltd. v. CIT 212 CTR 562 and CIT v. Monnet Industries Limited 221 CTR (Del) 266. The Tribunal, therefore, held that the total amount of ` 43,78,607/- (` 38,01,632- business expenditure and ` 5,76,975/-) paid by the assessee as its share of the…