Traco Cable Corpn. Ltd. v. CIT

72 ITR 503Reported decision1969#14378 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2020 to 2022.

Issues it is cited on

section 142(2)section 57(iii)revision u/s 263transfer of capital assetsection 54fsection 57malabar industrialsection 54principal commissioner of income-taxsection 253section 119long term capital gains

Judgments citing Traco Cable Corpn. Ltd. v. CIT

DCIT vs. M/S Fiza Developers & Infrastructer Pvt. Ltd

In the result, all the miscellaneous petitions are allowed

ITA 985/BANG/2013[2007-08]Status: DisposedITAT Bangalore13 May 2022AY 2007-08

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Respondent: Shri T.N. Prakash, Addl.CIT(DR)(ITAT), Bengaluru
Section 263Section 54FSection 57

…to make a detailed reference, did not deal with the exact question that arises for determination in these cases on similar fact situations and, therefore, do not really bear on the point and assist the petitioner. 15. In Traco Cable Corpn. Ltd. v. CIT [1969] 72 ITR 503, a Division Bench of the Kerala High Court was dealing with a case of receipts or interest paid on share deposits and the deductions claimed by the assessee on them under section 57(iii) The Division Bench speaking through Isaac, J., rejected the same in these words: "A reading of the above provision is sufficient to repudiate the contention that…

Arjun M Ranga, Mysuru vs. Principal Commissioner of Income Tax (Central), Bengaluru

In the result, the appeal of the assessee is dismissed

ITA 692/BANG/2021[2016-17]Status: DisposedITAT Bangalore14 Feb 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 143Section 263Section 54FSection 57

…to make a detailed reference, did not deal with the exact question that arises for determination in these cases on similar fact situations and, therefore, do not really bear on the point and assist the petitioner. 15. In Traco Cable Corpn. Ltd. v. CIT [1969] 72 ITR 503, a Division Bench of the Kerala High Court was dealing with a case of receipts or interest paid on share deposits and the Page 19 of 22 deductions claimed by the assessee on them under section 57(iii) The Division Bench speaking through Isaac, J., rejected the same in these words: "A reading of the above provision is sufficient to repudiate the c…

Guru Pavan Ranga, Mysuru vs. Principal Commissioner of Income Tax, (Central), Bangalore

In the result, both the appeals of the assessees are dismissed

ITA 677/BANG/2021[2016-17]Status: DisposedITAT Bangalore14 Feb 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 143Section 263Section 54FSection 57

…to make a detailed reference, did not deal with the exact question that arises for determination in these cases on similar fact situations and, therefore, do not really bear on the point and assist the petitioner. 15. In Traco Cable Corpn. Ltd. v. CIT [1969] 72 ITR 503, a Division Bench of the Kerala High Court was dealing with a case of receipts or interest paid on share deposits and the deductions claimed by the assessee on them under section 57(iii) The Division Bench speaking through Isaac, J., rejected the same in these words: "A reading of the above provision is sufficient to repudiate the contention that…

Anirudh Murthy Ranga, Mysuru vs. Principal Commissioner of Income Tax, (Central), Bengaluru

In the result, both the appeals of the assessees are dismissed

ITA 676/BANG/2021[2016-17]Status: DisposedITAT Bangalore14 Feb 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Respondent: Shri Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 143Section 263Section 54FSection 57

…to make a detailed reference, did not deal with the exact question that arises for determination in these cases on similar fact situations and, therefore, do not really bear on the point and assist the petitioner. 15. In Traco Cable Corpn. Ltd. v. CIT [1969] 72 ITR 503, a Division Bench of the Kerala High Court was dealing with a case of receipts or interest paid on share deposits and the deductions claimed by the assessee on them under section 57(iii) The Division Bench speaking through Isaac, J., rejected the same in these words: "A reading of the above provision is sufficient to repudiate the contention that…

Income Tax Officer, Ward-17(2), Hyderabad vs. Elgen (India) Private Limited, Hyderabad

In the result, appeal of the revenue is allowed

ITA 244/HYD/2019[2015-16]Status: DisposedITAT Hyderabad30 Apr 2021AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahuassessment Year: 2015-16 Income-Tax Officer, Vs. Elgen (India) Pvt Ltd., Ward - 17(2), Hyderabad. Hyderabad. Pan – Aaace 8520C (Appellant) (Respondent) Revenue By: Shri Rohit Mujumdar Assessee By: Shri M. Poorna Chander Rao Date Of Hearing: 15/03/2021 Date Of Pronouncement: 30/04/2021

For Appellant: Shri M. Poorna Chander RaoFor Respondent: Shri Rohit Mujumdar
Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”: HYDERABAD (THROUGH VIRTUAL CONFERENCE) BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Assessment Year: 2015-16 Income-tax Officer, Vs. Elgen (India) Pvt Ltd., Ward - 17(2), Hyderabad. Hyderabad. PAN – AAACE 8520C (Appellant) (Respondent) Revenue by: Shri Rohit Mujumdar Assessee by: Shri M. Poorna Chander Rao Date of hearing: 15/03/2021 Date of pronouncement: 30/04/2021 O R D E R PER L.P. SAHU, A.M.: This appeal filed by the Revenue for AY 2015-16 is directed against CIT(A) – 7, Hyderabad’s order dated 2…

Anrak Aluminium Limited, Hyderabad vs. DCIT, Circle-1(1), Hyderabad

Appeal is partly allowed in foregoing terms

ITA 994/HYD/2017[2013-14]Status: DisposedITAT Hyderabad08 Feb 2021AY 2013-14

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri A.V.Raghuram, ARFor Respondent: Smt. Anjala Sahu, DR
Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “A” : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER I.T.A. No. 994/HYD/2017 Assessment Year: 2013-14 M/s.Anrak Aluminium DCIT, Circle-1(1), Limited, Vs HYDERABAD HYDERABAD [PAN: AAGCA2333M] (Appellant) (Respondent) For Assessee : Shri A.V.Raghuram, AR For Revenue : Smt. Anjala Sahu, DR Date of Hearing : 21-01-2021 Date of Pronouncement : 08-02-2021 O R D E R PER BENCH : This assessee’s appeal for AY.2013-14 arises from the CIT(A)-1, Hyderabad’s order dated 17-03-2017 passed in a…

Hazaribag Ranchi Expressway Ltd, Mumbai vs. ITO 14(2)(1), Mumbai

In the result, appeal filed by the assessee is partly allowed

ITA 6696/MUM/2017[2012-13]Status: DisposedITAT Mumbai22 Jan 2020AY 2012-13

Bench: Shri G. Manjunatha & Shri Ram Lal Negihazaribagh Ranchi Vs. Ito-14(2)(1) 4Th Floor, Expressway Ltd. The Il&Fs Financial Center Aaykar Bhawan Plot No.C-22, G Block M.K.Road Bkc, Bandra(E) Mumbai-400 020 Mumbai-400 051 Pan/Gir No.Aacch2490J Appellant) .. Respondent)

Section 234BSection 56(1)

…be taxed as income from other sources. • Dy.CIT vs. Times Guarantee Ltd. 131 TTJ (Mum) 257. Deployment of surplus fund for earning interest gives rise to interest income to be taxed under the head income from other source. • Traco Cable Co.Ltd. vs. CIT (Ker) 72 ITR 503 Madhya Pradesh State Industries Corpn. Ltd. vs. CIT (MP) 69 ITR 824(MP) CIT vs. Assam Plantation Corp Dev. Corpn Ltd. (Gau) 221 ItR 392 Share capital received deposited in bank – Interest eanred is to be assessed under –“ Other sources” • The identical ruling has been given in the following cases. 7 Hazaribagh Ranchi Expressway Ltd. i. South Indi…

Traco Cable Corpn. Ltd. v. CIT (72 ITR 503) — Cited in 7 Judgments | BharatTax