Triveni Engineering Works Ltd. v. CIT

187 ITR 363High Court1991#2052 most cited

What is Triveni Engineering Works Ltd. v. CIT authority for?

Interest paid on borrowed capital is only deductible if the loans were utilized for the assessee's business during the accounting year. Any portion of interest related to non-business purposes is not allowable as an expenditure.

56

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2010 to 2025.

Also referred to as

Triveni Engineering Works Ltd. v. CIT · borrowed capital · interest expenditure · business purpose · non-business purpose · Section 36(1)(iii) · Section 37(1)

Sections most often in play

Section 36(1)(iii)Section 143(3)Section 35DSection 37(1)Section 40(a)(ia)Section 153A(1)(b)Section 195Section 40A(2)(b)

Issues it is cited on

section 40(1)section 3asection 80iabsection 262section 160section 5(2)(b)section 153(3)section 113section 80ia(8)section 114section 40a(2)(b)section 35d

Judgments citing Triveni Engineering Works Ltd. v. CIT

Claridge Hotels P.Ltd, New Delhi vs. DCIT, Central Circle-3, New Delhi

In the result, the appeal of the assessee is allowed

ITA 2443/DEL/2019[2015-16]Status: DisposedITAT Delhi27 Jun 2022AY 2015-16

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

For Appellant: Sh. Gaurav Jain, Adv. &For Respondent: Sh. Mahesh Shah, CIT DR
Section 30

…nclusion was that such expenditure was allowable as business expenditure.” b) In the case of CIT vs. Priya Village Roadshows Ltd. 332 ITR 594 (Delhi) has held that 36 Claridge Hotels Pvt. Ltd. "A harmonious reading of Triveni Engg. Works Ltd. vs. CIT [1998] 232 ITR 639/100 Taxman 19 (Delhi) and CIT vs. Modi Industries 200 ITR 341/68 Taxman 114 (Delhi) would demonstrate that one has to keep in mind the essential purpose for which such an expenditure is incurred. If the expenditure is incurred for starting a new business which was not carried out by the assessee earlier, then such expenditure is held to be of cap…

Hero Moto Corp Ltd., New Delhi vs. Neac, Delhi

ITA 706/DEL/2021[2016-17]Status: DisposedITAT Delhi26 Nov 2021AY 2016-17

Bench: Shri Kul Bharat & Shri Prashant Maharishi(Through Video Conferencing)

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Surendra Pal
Section 143(3)Section 144BSection 144CSection 144C(13)Section 145Section 1lSection 80ISection 92C

…Ltd. [1987] 165 ITR 51 (SC)  Alembic Chemical Works Co. Ltd. v. CIT: 177 ITR 377 (SC)  Shriram Refrigeration Industries Ltd. v. CIT: 127 ITR 746 (Del HC)  Triveni Engineering Works Ltd. vs. CIT : 136 ITR 340 (Del)  Addl. CIT vs. Shama Engine Valves Ltd. : 138 ITR 217 (Del)  CIT vs. Bhai Sunder Dass& Sons P. Ltd. : 158 ITR 195 (Del)  CIT vs. Lumax Industries Ltd. : 173 Taxman 390 (Del)  Shriram Pistons & Rings Ltd. vs. CIT : 171 Taxman 81 (Del)  CIT vs. Shri Ram Pistons and Rings Ltd. : 220 CTR 404 (Del)  Goodyear India Ltd. vs. ITO : 73 ITD 189 (Del)(TM)  ITO vs. Shivani Locks : 118 TTJ 467 (Del)  Clim…

DCIT Corporate Circle 2(1), Chennai vs. The India Cements Ltd., Chennai

In the result, the cross objection filed by the assessee is partly allowed for statistical purpose

ITA 737/CHNY/2018[2013-14]Status: DisposedITAT Chennai18 Aug 2021AY 2013-14

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 2145 & 2210/Chny/2017, Ita 737/Chny/2018 िनधा"रण वष" / Assessment Years: 2012-13, 2008-09 & 2013-14 The Deputy Commissioner Of M/S. The India Cements Ltd., Income Tax, V. No.93, Coromandel Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No: 2038/Chny/2017 िनधा"रण वष" / Assessment Year: 2009-10 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & Co No.: 76/Chny/2018 (In Ita No.737/Chny/2018) िनधा"रण वष" / Assessment Year: 2013-14 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri G. Srinivasa Rao, CIT
Section 115VSection 14A

…ries without appreciating the fact that the assessee has paid huge interest on borrowed funds which was diverted to give interest free advances to subsidiaries. The ld.DR referring to decision of Hon’ble Madras High Court in the case of M/s. HR Sugar Factory, 187 ITR 363 and decision of Hon’ble Punjab & Haryana High Court in the case of M/s. Abishek Industries, 288 ITR 1, submitted that interest free advances given to sister concerns for non-business purposes would definitely hit by the provisions of section 36(1)(iii) of the Act. 25 I.T.A. Nos. 2145, 2210, 2038/Chny/2017, 737/Chny/2018 & C.O No.76/Chny/2018 1…

DCIT-2(1), Chennai vs. The India Cements Ltd, Chennai

In the result, the cross objection filed by the assessee is partly allowed for statistical purpose

ITA 2210/CHNY/2017[2008-09]Status: DisposedITAT Chennai18 Aug 2021AY 2008-09

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 2145 & 2210/Chny/2017, Ita 737/Chny/2018 िनधा"रण वष" / Assessment Years: 2012-13, 2008-09 & 2013-14 The Deputy Commissioner Of M/S. The India Cements Ltd., Income Tax, V. No.93, Coromandel Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No: 2038/Chny/2017 िनधा"रण वष" / Assessment Year: 2009-10 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & Co No.: 76/Chny/2018 (In Ita No.737/Chny/2018) िनधा"रण वष" / Assessment Year: 2013-14 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri G. Srinivasa Rao, CIT
Section 115VSection 14A

…ries without appreciating the fact that the assessee has paid huge interest on borrowed funds which was diverted to give interest free advances to subsidiaries. The ld.DR referring to decision of Hon’ble Madras High Court in the case of M/s. HR Sugar Factory, 187 ITR 363 and decision of Hon’ble Punjab & Haryana High Court in the case of M/s. Abishek Industries, 288 ITR 1, submitted that interest free advances given to sister concerns for non-business purposes would definitely hit by the provisions of section 36(1)(iii) of the Act. 25 I.T.A. Nos. 2145, 2210, 2038/Chny/2017, 737/Chny/2018 & C.O No.76/Chny/2018 1…

DCIT, Corporate Circle -2(1), Chennai vs. The India Cements Ltd., Chennai

In the result, the cross objection filed by the assessee is partly allowed for statistical purpose

ITA 2145/CHNY/2017[2012-13]Status: DisposedITAT Chennai18 Aug 2021AY 2012-13

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 2145 & 2210/Chny/2017, Ita 737/Chny/2018 िनधा"रण वष" / Assessment Years: 2012-13, 2008-09 & 2013-14 The Deputy Commissioner Of M/S. The India Cements Ltd., Income Tax, V. No.93, Coromandel Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No: 2038/Chny/2017 िनधा"रण वष" / Assessment Year: 2009-10 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & Co No.: 76/Chny/2018 (In Ita No.737/Chny/2018) िनधा"रण वष" / Assessment Year: 2013-14 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri G. Srinivasa Rao, CIT
Section 115VSection 14A

…ries without appreciating the fact that the assessee has paid huge interest on borrowed funds which was diverted to give interest free advances to subsidiaries. The ld.DR referring to decision of Hon’ble Madras High Court in the case of M/s. HR Sugar Factory, 187 ITR 363 and decision of Hon’ble Punjab & Haryana High Court in the case of M/s. Abishek Industries, 288 ITR 1, submitted that interest free advances given to sister concerns for non-business purposes would definitely hit by the provisions of section 36(1)(iii) of the Act. 25 I.T.A. Nos. 2145, 2210, 2038/Chny/2017, 737/Chny/2018 & C.O No.76/Chny/2018 1…

The India Cements Ltd., Chennai vs. DCIT Corporate Circle 2(1), Chennai

In the result, the cross objection filed by the assessee is partly allowed for statistical purpose

ITA 2038/CHNY/2017[2009-10]Status: DisposedITAT Chennai18 Aug 2021AY 2009-10

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 2145 & 2210/Chny/2017, Ita 737/Chny/2018 िनधा"रण वष" / Assessment Years: 2012-13, 2008-09 & 2013-14 The Deputy Commissioner Of M/S. The India Cements Ltd., Income Tax, V. No.93, Coromandel Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No: 2038/Chny/2017 िनधा"रण वष" / Assessment Year: 2009-10 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & Co No.: 76/Chny/2018 (In Ita No.737/Chny/2018) िनधा"रण वष" / Assessment Year: 2013-14 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri G. Srinivasa Rao, CIT
Section 115VSection 14A

…ries without appreciating the fact that the assessee has paid huge interest on borrowed funds which was diverted to give interest free advances to subsidiaries. The ld.DR referring to decision of Hon’ble Madras High Court in the case of M/s. HR Sugar Factory, 187 ITR 363 and decision of Hon’ble Punjab & Haryana High Court in the case of M/s. Abishek Industries, 288 ITR 1, submitted that interest free advances given to sister concerns for non-business purposes would definitely hit by the provisions of section 36(1)(iii) of the Act. 25 I.T.A. Nos. 2145, 2210, 2038/Chny/2017, 737/Chny/2018 & C.O No.76/Chny/2018 1…

ACIT, New Delhi vs. M/S. Utech Developers Ltd., New Delhi

The appeal of the Department stands dismissed

ITA 3736/DEL/2016[2009-10]Status: DisposedITAT Delhi30 Jun 2021AY 2009-10

Bench: Ld. Cit (A)

Section 37(1)

…r it finds appropriate or expedient. It is ACIT vs. M/s. Utech Developmers Ltd. not open for revenue authorities to challenged the same, as also held in various judicial pronouncements. The AO has relied upon the judgement in CIT vs. HR Sugar Factory P. Ltd. 187 ITR 363, while making disallowance. In this regard, the appellant has submitted, as reproduced earlier, that the facts of the case relied upon by the appellant is not applicable in the instant case due to the reason that the appellant has given advance to the various parties, not related to it and for the business projects being undertaken by the appella…

M/S Iol Chemicals and Pharmaceuticals Ltd., Ludhiana vs. Addl. CIT, R-I, Ludhiana

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

ITA 1419/CHANDI/2019[2011-12]Status: DisposedITAT Chandigarh10 Jun 2021AY 2011-12
For Appellant: Shri Ashwani Kumar, CAFor Respondent: Smt. C. Chandrakanta, CIT
Section 115JSection 250(6)Section 36Section 36(1)(iii)Section 41(1)

…com 128 (Bom) • Hero Cycles (SC) Civil Appeal No. 514 of 2008 • CIT Vs. Kapsons Associates (2017) 79 taxmann.com 364 (P&H) • CIT Vs. Abhishek Industries Ltd. 286 ITR 1 • CIT Vs. Orissa Cement Ltd. 258 ITR 365 (Del) • CIT Vs. H.P. Sugar Factory Pvt. Ltd. (All) 187 ITR 363 6. Now the Assessee is in appeal. 7. Ld. Counsel for the Assessee reiterated the submissions made before the authorities below and further submitted that the debit balance was on account of payment made to the third parties by the assessee on behalf of the M/s G. Drugs and Pharmaceuticals Ltd. It was further submitted that the payment was made…

Hero Motocrop Ltd., New Delhi vs. ACIT, Circle- 11(1), New Delhi

The appeal of the assessee is partly allowed

ITA 9187/DEL/2019[2015-16]Status: DisposedITAT Delhi13 Apr 2021AY 2015-16

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2015-16

Section 115JSection 143(3)Section 144CSection 145ASection 80ISection 92C

…Ltd. [1987] 165 ITR 51 (SC) • Alembic Chemical Works Co. Ltd. v. CIT: 177 ITR 377 (SC) • Shriram Refrigeration Industries Ltd. v. CIT: 127 ITR 746 (Del HC) • Triveni Engineering Works Ltd. vs. CIT : 136 ITR 340 (Del) • Addl. CIT vs. Shama Engine Valves Ltd. : 138 ITR 217 (Del) • CIT vs. Bhai Sunder Dass & Sons P. Ltd. : 158 ITR 195 (Del) • CIT vs. Lumax Industries Ltd. : 173 Taxman 390 (Del) • Shriram Pistons & Rings Ltd. vs. CIT : 171 Taxman 81 (Del) • CIT vs. Shri Ram Pistons and Rings Ltd. : 220 CTR 404 (Del) • Goodyear India Ltd. vs. ITO : 73 ITD 189 (Del)(TM) • ITO vs. Shivani Locks : 118 TTJ 467 (Del) • Cli…

Anil Mohandas Lakhani (HUF), Mumbai vs. ITO 19(1)(3), Mumbai

In the result this appeal by the assessee stands allowed

ITA 3085/MUM/2013[2009-10]Status: DisposedITAT Mumbai01 Apr 2021AY 2009-10
Section 143(3)

…next 6 years was not justified. In view of the above discussion, the A.O. disallowed interest of Rs.20,28,015/- claimed as deduction u/s 37(1) of the I.T. Act. Reliance in this connection is placed on the decision of the CIT vs. H.R. Sugar Factory Pvt. Ltd. [187 ITR 363 (All.)]. In this connection, it was held that "had the money not advanced to the directors it would have been available to the assessee for its business purposes and to that extent it may not have been necessary to borrow from the banks". In this case also, had the money not been advanced interest free to associate concern M/s. Mohan Impex to tha…

Mahanadi Coalfields Ltd., Sambalpur vs. DCIT, Circle-2(1), Sambalpur

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

ITA 174/CTK/2018[2015-16]Status: DisposedITAT Cuttack05 Jun 2020AY 2015-16

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.174/Ctk/2018 (नििाारण वषा / Assessment Year : 2015 - 2016) Mahanadi Coalfields Ltd., Vs. Dcit, Circle-2(1), Sambalpur Jagriti Vihar, Burla, Sambalpur स्थायी ऱेखा सं./Pan No. : Aabcm 5188 P (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee By : Shri S.S.Podar, Ca राजस्व की ओर से /Revenue By : Shri S.M.Keshkamat, Citdr सुनवाई की तारीख / Date Of Hearing : 15/01/2020 घोषणा की तारीख/Date Of Pronouncement : 05/06/2020 आदेश / O R D E R Per L.P.Sahu, Am :

For Appellant: Shri S.S.Podar, CAFor Respondent: Shri S.M.Keshkamat, CITDR
Section 143(3)Section 14ASection 32Section 35ESection 37Section 37(1)

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK श्री सी.एम.गगग, न्याययक सदस्य एवं श्री एऱ.ऩी.साहु,ऱेखा सदस्य के समऺ BEFORE SHRI C.M. GARG, JM & SHRI L.P. SAHU, AM आयकर अपीऱ सं./ITA No.174/CTK/2018 (नििाारण वषा / Assessment Year : 2015 - 2016) Mahanadi Coalfields Ltd., Vs. DCIT, Circle-2(1), Sambalpur Jagriti Vihar, Burla, Sambalpur स्थायी ऱेखा सं./PAN No. : AABCM 5188 P (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. यनधागररती की ओर से /Assessee by : Shri S.S.Podar, CA राजस्व की ओर से /Revenue by : Shri S.M.Keshkamat, CITDR सुनवाई की तारीख / Date of Hearing : 15/0…

Diamond Textiles Mills Pvt. Ltd., Ahmedabad vs. ITO, Ward-1(1)(4), Ahmedabad

In the result, appeal filed by the Assessee is allowed

ITA 346/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad10 Dec 2019AY 2014-15

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

For Appellant: Ms. Arti N. Shah, C.AFor Respondent: Shri Uma Prasad, Sr. D.R
Section 36

…he proportionate interest attributable to such loans could be legitimately disallowed by the Assessing Officer. It was so held in S.A. Builders Ltd. v. CIT (2004) 269 ITR 535 (P&H). Further, this view was accepted in CIT v. H.R. Sugar Factory Pvt. Ltd. [1971] 187 ITR 363 (All) in a case, where money was borrowed for purposes of business, but advanced at a concessional rate to its directors, so that the High Court upheld the inference of the Revenue to disallow the amount to the extent of difference in interest rates, though the Revenue was not able to establish the identity of the funds allegedly diverted. The Hi…

Taj Sats Air Catering Ltd, Mumbai vs. Asst CIT Circle- 2(3)(1), Mumbai

In the result, the appeal of the assessee is hereby ordered to be allowed

ITA 762/MUM/2018[2014-15]Status: DisposedITAT Mumbai30 Apr 2019AY 2014-15
For Appellant: Shri M.P. Lohia/ HemenFor Respondent: Ms. Neelima Nadkarni (DR)
Section 2

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI M. BALAGANESH, AM AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. No.762/Mum/2018 (ननधधारण वर्ा / Assessment Years: 2014-15) बनधम/ Taj Sats Air Catering ACIT, Circle 2(3)(1) Aayakar Bhavan, Mumbai. Limited Vs. Mandlik House, Mandlik Road, Colaba, Mumbai- 400001. स्थधयी लेखध सं./जीआइआर सं./PAN/GIR No. : AABCT4686P (अपीलाथी /Appellant) (प्रत्यथी / Respondent) .. Revenue by: Ms. Neelima Nadkarni (DR) Assessee by: Shri M.P. Lohia/ Hemen Chandariya सुनवाई की तारीख / Date of Hearing: 25.04.2019 घोषणा की तारीख /Date of Pronouncement: 30/04/2019 आदेश /…

Hero Motocorp Ltd., New Delhi vs. DCIT, Circle- 11(1), New Delhi

Appeal of the assessee is partly allowed for statistical purpose

ITA 1351/DEL/2018[2009-10]Status: DisposedITAT Delhi23 Apr 2019AY 2009-10

Bench: Shri N. K. Billaiya & Ms Suchitra Kamble

For Appellant: Amount of Proposed international
Section 115JSection 143(3)Section 144C

…td. [1987] 165 ITR 51 • Alembic Chemical Works Co. Ltd. Vs. CIT: 177 ITR 377 (S.C) • Shriram Refrigeration Industries Ltd. Vs. CIT: 127 ITR 746 (Del H.C) • Triveni Engineering Works Ltd. Vs. CIT(A): 136 ITR 340 (Del) • Addl. CIT vs. Shama Engine Valves Ltd, : 138 ITR 217 (Del) • CIT vs. Bhai Sunder Dass & Sons P. Ltd. : 158 ITR 195 (Del) • CIT vs. Lumax Industries Ltd. : 173 Taxman 390 (Del) Shriram Pistons & Rings Ltd. vs. CIT : 171 Taxman 81 (Del) • CIT vs. Shri Ram Pistons and Rings Ltd.: 220 CTR 404 (Del) • Goodyear India Ltd. vs. ITO : 73 ITD 189 (Del)(TM) ITO vs. Shivani Locks : 118 TTJ 467 (Del) 86 • Clim…

Tata Chemicals Ltd, Mumbai vs. DCIT 2(3), Mumbai

ITA 2965/MUM/2015[2002-03]Status: DisposedITAT Mumbai22 Apr 2019AY 2002-03

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2002-03 Tata Chemicals Ltd. Deputy Commissioner Of Bombay House, Vs. Income Tax-2(3)(1), 5Th 24 Homi Mody Street, Floor, Aayakar Bhavan, Fort, Mumbai-400001 M.K. Road, Mumbai- 400020 Pan No. Aaact4059M Appellant Respondent Assessment Year: 2002-03 Deputy Commissioner Tata Chemicals Ltd. Of Income Tax-2(3)(1), Vs. Bombay House, 5Th Floor, Aayakar 24 Homi Mody Street, Bhavan, M.K. Road, Fort, Mumbai-400001 Mumbai-400020 Pan No. Aaact4059M Appellant Respondent Assessee By : Mr. Nitesh Joshi, Ar Revenue By : Mr. Choudhary Arun Kumar Singh, Date Of Hearing : 25/01/2019 Date Of Pronouncement: 22/04/2019

For Appellant: Mr. Nitesh Joshi, ARFor Respondent: Mr. Choudhary Arun Kumar Singh
Section 115JSection 143(3)Section 14A

…the above expenses before the AO. However, the AO was not convinced with the said explanation as these expenses were capital in nature and thus not allowable u/s 37(1) of the Act. In this regard, the AO relied on the decision in Triveni Engineering Works Ltd. 232 ITR 639 (Del) and Hasmira Industries 230 ITR 927 (SC). 5.2 In appeal, the Ld. CIT(A) confirmed the above disallowances made by the AO. In respect of the disallowance of Rs.1,62,25,000/- (payment to L&T as compensation towards cancellation of construction contract), the Tata Chemicals Ltd. Ld. CIT(A) held that “such expenditure incurred by it for a new p…

Philip Anil Cherian, Pathanamthitta vs. ACIT, Thiruvalla

In the result, the appeals of the assessee are partly allowed for statistical

ITA 77/COCH/2018[2008-09]Status: DisposedITAT Cochin05 Feb 2019AY 2008-09

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

Section 36(1)(iii)

…1 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE S/SHRI CHANDRA POOJARI, AM & GEORGE GEORGE K., JM I.T.A. No.77/Coch/2018 Assessment Year : 2008-09 Shri Philip Anil Cherian, Vs. The Assistant Commissioner of M/s. Bigfield Drug Links, Income-tax, Circle-1, Thiruvalla. Pathanamthitta. [AABPC 1071D] (Assessee-Appellant) (Revenue-Respondent) I.T.A. No. 412/Coch/2018 Assessment Year : 2011-12 Shri Philip Anil Cherian, Vs. The Deputy Commissioner of M/s. Bigfield Drug Links, Income-tax, Circle-1, Thiruvalla. Pathanamthitta, [AABPC 1071D] (Assessee-Appellant) (Revenue-Respondent) Ass…

Sri.Philip Anil Cherian, Pathanamthitta vs. The DCIT, Cir-1, Thiruvalla

In the result, the appeals of the assessee are partly allowed for statistical

ITA 412/COCH/2018[2011-12]Status: DisposedITAT Cochin05 Feb 2019AY 2011-12

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

Section 36(1)(iii)

…1 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE S/SHRI CHANDRA POOJARI, AM & GEORGE GEORGE K., JM I.T.A. No.77/Coch/2018 Assessment Year : 2008-09 Shri Philip Anil Cherian, Vs. The Assistant Commissioner of M/s. Bigfield Drug Links, Income-tax, Circle-1, Thiruvalla. Pathanamthitta. [AABPC 1071D] (Assessee-Appellant) (Revenue-Respondent) I.T.A. No. 412/Coch/2018 Assessment Year : 2011-12 Shri Philip Anil Cherian, Vs. The Deputy Commissioner of M/s. Bigfield Drug Links, Income-tax, Circle-1, Thiruvalla. Pathanamthitta, [AABPC 1071D] (Assessee-Appellant) (Revenue-Respondent) Ass…

M/S Michelin India Tyres Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal filed by the assessee is allowed, in the terms indicated

ITA 414/DEL/2011[2006-07]Status: DisposedITAT Delhi08 Jan 2019AY 2006-07

Bench: Shri Bhavnesh Saini & Shri R.K. Pandaassessment Year: 2006-07 Michelin India Tyres Pvt. Ltd., Vs. Dcit, Unit 401-404, 4Th Floor, Circle-6(1), Copia Corporate Suites, New Delhi. Jasola District Centre, New Delhi. Pan: Aadcm8454G (Appellant) (Respondent) Assessee By : Shri Nageshwar Rao, Advocate Revenue By : Shri Sarabjeet Singh, Sr.Dr Date Of Hearing : 05.12.2018 Date Of Pronouncement : 08.01.2019 Order Per R.K. Panda, Am: This Appeal By The Assessee Is Directed Against The Order Dated 26Th October, 2010 Passed By The Assessing Officer U/S 143(3) Read With Section 144C Of The It Act Relating To Assessment Year 2006-07. 2. Grounds Of Appeal Nos.1,2,3 & 16 Being General In Nature Are Dismissed. 3. Grounds Of Appeal No.4,5,6 & 12 Which Relate To Disallowance Of Technical Fee

For Appellant: Shri Nageshwar Rao, AdvocateFor Respondent: Shri Sarabjeet Singh, Sr.DR
Section 143(3)Section 144CSection 92C(3)

…penditure' incurred for a project which was ultimately scrapped. Judicial precedents on this issue have held such expenses as not allowable being in the nature of capital expenditure and relied upon the judgement cited as Triveni Engineering Works Ltd. Vs CIT 232 ITR 639 (Del.), 100 Taxman 90 (Del. H.C.). 13. Ld. A.R. by relying on the judgement of Hon’ble Jurisdictional High Court cited as Indo Rama Synthetics (I) Ltd. Vs CIT 185 Taxman 277 (Del.) contended that in the identical circumstances, Hon'ble Jurisdictional High Court has discussed the case of Triveni Engineering Works Ltd. (supra) and CIT vs Modi Indu…

Hero Motocorp Ltd., New Delhi vs. Addl.CIT, Range-11, New Delhi

In the result ground No

ITA 6990/DEL/2017[2013-14]Status: DisposedITAT Delhi20 Jun 2018AY 2013-14

Bench: Shri R. K. Panda & Ms Suchitra Kamblei.T.A. No. 6990/Del/2017 (A.Y 2013-14)

Section 143(3)Section 144C

…a Corp. Ltd. [1987] 165 ITR 51 (SC) Alembic Chemical Works Co. Ltd. v. CIT: 177 ITR 377 (SC) Shriram Refrigeration Industries Ltd. v. CIT: 127 ITR 746 (Del HC) Triveni Engineering Works Ltd. vs. CIT : 136 ITR 340 (Del) Addl. CIT vs. Shama Engine Valves Ltd. : 138 ITR 217 (Del) CIT vs. Bhai Sunder Dass & Sons P. Ltd. : 158 ITR 195 (Del) CIT vs. Lumax Industries Ltd. : 1'73 Taxman 390 (Del) Shriram Pistons & Rings Ltd. vs. CIT : 171 Taxman 81 (Del)-" CIT vs. Shri Ram Pistons and Rings Ltd. : 220 CTR 404 (Del) Goodyear India Ltd. vs. ITO : 73 ITD 189 (Del)(TM) ITO vs. Shivani Locks : 118 TTJ 467 (Del) Since no prop…

Hero Motocorp Ltd., New Delhi vs. DCIT, New Delhi

In the result appeal No. 2424/Del/ 2015 filed by the revenue in assessment year 2010-11 is partly allowed

ITA 1616/DEL/2017[2012-13]Status: DisposedITAT Delhi13 Jun 2018AY 2012-13

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 143(3)Section 144CSection 92C

…a Corp. Ltd. [1987] 165 ITR 51 (SC) Alembic Chemical Works Co. Ltd. v. CIT: 177 ITR 377 (SC) Shriram Refrigeration Industries Ltd. v. CIT: 127 ITR 746 (Del HC) Triveni Engineering Works Ltd. vs. CIT : 136 ITR 340 (Del) Addl. CIT vs. Shama Engine Valves Ltd. : 138 ITR 217 (Del) CIT vs. Bhai Sunder Dass & Sons P. Ltd. : 158 ITR 195 (Del) CIT vs. Lumax Industries Ltd. : 1'73 Taxman 390 (Del) Shriram Pistons & Rings Ltd. vs. CIT : 171 Taxman 81 (Del)-" CIT vs. Shri Ram Pistons and Rings Ltd. : 220 CTR 404 (Del) Goodyear India Ltd. vs. ITO : 73 ITD 189 (Del)(TM) ITO vs. Shivani Locks : 118 TTJ 467 (Del) Since no prop…