Uniflex Cables Ltd. v. Dy. CIT

136 ITD 374Income Tax Appellate Tribunal2012#19116 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2024.

Judgments citing Uniflex Cables Ltd. v. Dy. CIT

EXIMCORP INDIA (P) LTD. ,KOLKATA vs. ACIT,CIR-5(2),KOLKATA. , KOLKATA

In the result, the appeal of the assessee is dismissed

ITA 702/KOL/2023[2016-17]Status: DisposedITAT Kolkata05 Aug 2024AY 2016-17

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

Section 115JSection 195Section 195(1)Section 2Section 40

…52 ITD 339 (Panaji - Trib.) held that usance charges paid to non-resident on import purchase by assessee would be considered as "Interest" Income. (iv) The Hon'ble ITAT Mumbai Bench also in the case of Uniflex Cables Ltd. v. Dy. CIT [2012] 19 taxmann.com 315/136 ITD 374 held that "Usance interest' paid to non-residents by Indian company for availing credit under irrevocable letter of credit for delayed payments for purchase of raw materials is interest under section 2(28A), being an income deemed to have accrued or arisen in India under section 9(1)(v)(b). Page 18 of 20 I.T.A. Nos.: 701 & 702/KOL/2023 AYs: 201…

EXIMCORP INDIA PRIVATE LIMITED. ,KOLKATA vs. ACIT,CIR-5(2),KOLKATA. , KOLKATA

In the result, the appeal of the assessee is dismissed

ITA 701/KOL/2023[2015-16]Status: DisposedITAT Kolkata05 Aug 2024AY 2015-16

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

Section 115JSection 195Section 195(1)Section 2Section 40

DCIT CIR - 3(1), MUMBAI vs. M/S. GUJARAT AMBUJA CEMENTS LTD., MUMBAI

In the result, appeal filed by the revenue is dismissed

ITA 1379/MUM/2007[2000-2001]Status: DisposedITAT Mumbai07 Apr 2017AY 2000-2001

Bench: Shri C.N.Prasad, Jm & Shri Rajesh Kumar, Am आयकर अपील सं/ I.T.A. No. 1379/Mum/2007 (िनधा"रण वष" / Assessment Year: 2000-01) बनाम/ Acit (Ltu) – 1 M/S. Gujarat Ambuja World Trade Centre, Cements Ltd. Vs. Centre – 1, 29Th Floor, 122, Maker Chambers-Iii, Cuffe Parade, Nariman Point, Mumbai - 400005 Mumbai - 400021 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacg0569P (अपीलाथ" /Appellant) (""थ" / Respondent) .. Revenue By: Shri Anand Mohan (Cit-Dr) Assessee By: Shri Soumen Adak सुनवाई की तारीख / Date Of Hearing: 12.01.2017 घोषणा की तारीख /Date Of Pronouncement: 07.04.2017 आदेश / O R D E R Per C.N.Prasad, Jm:

For Appellant: Shri Soumen AdakFor Respondent: Shri Anand Mohan (CIT-DR)

Section 115JSection 14ASection 271(1)(c)Section 80H

…two legally sustainable views are available on the point and the assessee adopt one of the possible view in preference to the other, than it cannot be considered a case of concealment of income. The similar view was held in Uniflex Cables Ltd. Vs. DCIT (2012) 136 ITD 374 (Mum). Moreover, mere disallowance of claim would not automatically lead to draw a conclusion for concealment of income. Thus, keeping in view of peculiarity of the case, we do not find any illegality or infirmity in deleting the penalty levied by AO in respect of disallowance of premium paid for lease hold. Thus, this ground of appeal raised by…

DCIT CIR - 3(1), MUMBAI vs. M/S. GUJARAT AMBUJA CEMENTS LTD., MUMBAI

In the result, ITA No. 4373/Mum/2005 is partly allowed

ITA 570/MUM/2007[1998-1999]Status: DisposedITAT Mumbai21 Oct 2016AY 1998-1999

Bench: Shri R.C Sharma & Shri Pawan Singh

Section 115Section 253Section 254(1)Section 80

…two legally sustainable views are available on the point and the assessee adopt one of the possible view in preference to the other, than it cannot be considered a case of concealment of income. The similar view was held in Uniflex Cables Ltd. vs. DCIT (2012) 136 ITD 374 (Mum). Moreover, mere disallowance of claim would not automatically lead to draw a conclusion for concealment of income. Thus, keeping in view the peculiarity of the case, we do not find any illegality or infirmity in deleting the penalty levied by AO in respect of disallowance of premium paid for lease-hold. Thus, this ground of appeal raised by…