Vecumsees v. CIT

220 ITR 15Reported decision#17243 most cited
5

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

Judgments citing Vecumsees v. CIT

The ACIT, Central Caircle-2(2) vs. M/S. Mardia Chemicals Ltd

In the result, the appeal of revenue is dismissed

ITA 855/AHD/2004[2000-01]Status: DisposedITAT Ahmedabad28 Jan 2022AY 2000-01

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: NoneFor Respondent: Shri Vinod Tanwani, CIT.D.R
Section 143(3)

…for the purpose of the business, profession or vocation of the assessee; and thirdly, the assessee should have paid the amount as an allowance under that clause. The said view is also supported by the judgment of Supreme Court in the case of Vecumsees vs CIT 220 ITR 15, wherein it has been that as long as loans had been obtained for the purposes of the assessee's business, interest paid thereon has to be treated as a deduction u/s. 36(l)(iii) of the Act. The appellant also submitted that even in case of revenue expenses allowable u/s 37(1), if treated deferred expenses in books of accounts, are allowable in the…

The ACIT, Central Circle-2(2) vs. M/S. Mardia Chemicals Ltd

In the result, the appeal of revenue is dismissed

ITA 3210/AHD/2003[1999-2000]Status: DisposedITAT Ahmedabad28 Jan 2022AY 1999-2000

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: NoneFor Respondent: Shri Vinod Tanwani, CIT.D.R
Section 143(3)

…for the purpose of the business, profession or vocation of the assessee; and thirdly, the assessee should have paid the amount as an allowance under that clause. The said view is also supported by the judgment of Supreme Court in the case of Vecumsees vs CIT 220 ITR 15, wherein it has been that as long as loans had been obtained for the purposes of the assessee's business, interest paid thereon has to be treated as a deduction u/s. 36(l)(iii) of the Act. The appellant also submitted that even in case of revenue expenses allowable u/s 37(1), if treated deferred expenses in books of accounts, are allowable in the…

The ACIT, Central Circle-2(2) vs. M/S. Mardia Chemicals Ltd

In the result, the appeal of revenue is dismissed

ITA 3209/AHD/2003[98-99]Status: DisposedITAT Ahmedabad28 Jan 2022

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: NoneFor Respondent: Shri Vinod Tanwani, CIT.D.R
Section 143(3)

…for the purpose of the business, profession or vocation of the assessee; and thirdly, the assessee should have paid the amount as an allowance under that clause. The said view is also supported by the judgment of Supreme Court in the case of Vecumsees vs CIT 220 ITR 15, wherein it has been that as long as loans had been obtained for the purposes of the assessee's business, interest paid thereon has to be treated as a deduction u/s. 36(l)(iii) of the Act. The appellant also submitted that even in case of revenue expenses allowable u/s 37(1), if treated deferred expenses in books of accounts, are allowable in the…

The ACIT, Central Circle-2(2) vs. M/S. Mardia Chemicals Ltd

In the result, the appeal of revenue is dismissed

ITA 3208/AHD/2003[97-98]Status: DisposedITAT Ahmedabad28 Jan 2022

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: NoneFor Respondent: Shri Vinod Tanwani, CIT.D.R
Section 143(3)

…for the purpose of the business, profession or vocation of the assessee; and thirdly, the assessee should have paid the amount as an allowance under that clause. The said view is also supported by the judgment of Supreme Court in the case of Vecumsees vs CIT 220 ITR 15, wherein it has been that as long as loans had been obtained for the purposes of the assessee's business, interest paid thereon has to be treated as a deduction u/s. 36(l)(iii) of the Act. The appellant also submitted that even in case of revenue expenses allowable u/s 37(1), if treated deferred expenses in books of accounts, are allowable in the…

The ACIT, Cen- Cir 2(2), Ahmedabad vs. M/S Mardia Chemicals Ltd, Ahmedabad

In the result, the appeal of revenue is dismissed

ITA 3437/AHD/2002[93-94]Status: DisposedITAT Ahmedabad28 Jan 2022

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: NoneFor Respondent: Shri Vinod Tanwani, CIT.D.R
Section 143(3)

…for the purpose of the business, profession or vocation of the assessee; and thirdly, the assessee should have paid the amount as an allowance under that clause. The said view is also supported by the judgment of Supreme Court in the case of Vecumsees vs CIT 220 ITR 15, wherein it has been that as long as loans had been obtained for the purposes of the assessee's business, interest paid thereon has to be treated as a deduction u/s. 36(l)(iii) of the Act. The appellant also submitted that even in case of revenue expenses allowable u/s 37(1), if treated deferred expenses in books of accounts, are allowable in the…

Vecumsees v. CIT (220 ITR 15) — Cited in 5 Judgments | BharatTax