TR 152 3. CIT Vs. Mcleod & Co.,(1993) 203 ITR 290 (Cal) 4) CIT v. Modi Industries Limited

207 ITR 392High Court1994#19916 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2023.

Judgments citing TR 152 3. CIT Vs. Mcleod & Co.,(1993) 203 ITR 290 (Cal) 4) CIT v. Modi Industries Limited

ANOOPKUMAR DEVIDAS RAIMALANI,MUM vs. AC CIRCLE-18(1), MUM

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 3167/MUM/2022[2013-14]Status: DisposedITAT Mumbai01 Sept 2023AY 2013-14

For Appellant: Shri Om KandalkarFor Respondent: Shri Dharmvir D Yadav (Sr. DR)

Section 23Section 23(2)Section 24

…the said flat constitutes as business property of the Appellant and therefore, action of AO is erroneous. And for such a preposition, he relies on the decision of the Hon'ble Madras High Court in the case of CIT v. New India Maritime Agencies (P.) Ltd. [1994] 207 ITR 392 (Madras). In view of the above, the Appellant submits that the addition under section 23 of the Act is not justified and the same be deleted. The Ld. DR relies on the decision of the Ld. CIT(A) and does not want this Tribunal to interfere with the impugned action of Ld. CIT(A). 7 A.Y. 2013-14 Anoopkumar Devidas Ramalani 10. I have heard both the…

MAX FINANCIAL SERVICE LIMITED ,NAWANSHAHR vs. PRINCIPAL COMMISSIONER OF INCOME TAX -1, JALANDHAR

In the result, the appeal of the assessee is therefore partly allowed

ITA 121/ASR/2020[2015-16]Status: DisposedITAT Amritsar31 Mar 2021AY 2015-16

For Appellant: Shri Deepak ChopraFor Respondent: Smt.Prabhjot Kaur, CIT

Section 143(3)Section 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, DIVISION BENCH, AMRITSAR (VIRTUAL COURT) BEFORE: SMT.ANNAPURNA GUPTA, ACCOUNTANT MEMBER AND SHRI R.L. NEGI, JUDICIAL MEMBER ITA No. 121 (Asr)/2020 (Assessment Year : 2015-16 M/s Max Financial Services Ltd., The Pr. CIT-I., बनाम Bhai Mohan Singh Nagar, C.R. Building, Rail Majra, Tehsil Balachaur, Model Town Road, Distt Nawanshahr. Jalandhar. "थायी लेखा सं./PAN NO: AABCM1204G "नधा"रती क" ओर से/Assessee by: Shri Deepak Chopra, Shri Deepak Aggarwal Shri Rohan Khare Ms.Pratishtha Singh राज"व क" ओर से/ Revenue by: Smt.Prabhjot Kaur, CIT सुनवाई क" तार"ख/Date of Hearing : 2…

M/S. RECORD INVESTMENTS AND LEASING PVT. LTD.,MUMBAI vs. ITO, WARD-3(3)(1),, MUMBAI

In the result, appeal of the assessee is allowed

ITA 67/MUM/2019[2013-14]Status: DisposedITAT Mumbai21 Jan 2020AY 2013-14

Bench: Shri R.C.Sharmam/S Record Investments & Vs. I.T.O. Leasing Pvt. Ltd., Ward 3(3)(1), 92, Maker Chambers Vi, 220, Mumbai. Nariman Point, Mumbai- 400021. Pan/Gir No.Aaacr 7607 M (Appellant) .. (Respondent)

Section 143(3)Section 23Section 23(1)Section 23(2)Section 23(4)

…various judicial pronouncements. 6 M/s Record Investment & leasing P ltd. Vs ITO (i) DCIT Vs Prabhukripa Overseas Ltd. ITA No. 1092 & 1093/Kol/2011 (ii) CIT Vs Vazir Sultan Tobacco Co. Ltd. 173 ITR 290 (AP) (iii) CIT Vs New India Maritime agencies P Ltd. 207 ITR 392 (Mad). 7. In view of the above facts and circumstances, I do not find any merit in the action of the A.O. for taxing the flat owned by the assessee company U/s 23(1) of the Act. Hence, I direct to delete the same. 8. In the result, appeal of the assessee is allowed. Order pronounced in the open court on 21st January, 2020. (R.C.SHARMA) ACCOUN…

TRIUMPH HOSPITALS P.LTD,MUMBAI vs. ITO 7(3)(2), MUMBAI

The appeal of the assessee is dismissed

ITA 5735/MUM/2015[2010-11]Status: DisposedITAT Mumbai17 May 2018AY 2010-11

Bench: Shri Joginder Singh & Shri Manoj Kumar Aggarwalassessment Year: 2010-11 Triumph Hospitals Pvt. Ltd. Acit, 801 & 802, Raheja Central Circle-29, बनाम/ Empress, Veer Savarkar Aayakar Bhavan, Vs. Marg, Prabhadevi, M. K. Road, Mumbai-400025 Mumbai-400020 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aabct4993K

Section 28Section 3Section 36(1)(iii)Section 9

…usively for the purposes of the business of the assessee. So far as, the cases relied upon by the assessee in DCIT vs M/s Prabhukripa Overseas ltd. (ITA Nos.1092 and 1093/Kol/ 2011) order dated 04/05/2012 and CIT vs New India Maritime Agencies pvt. Ltd. (207 ITR 392)(Mad.) is concerned may not help to the assessee being on different facts. 10 Triumph Hospital Pvt. Ltd. Because, in the present appeal, Shri R. K. Deshpande is also a director in other companies also and the present residence was not exclusively used for business purposes of the present assessee alone, therefore, 3/4th of the depreciation an…