How many judgments cite Virmati Ramkrishna v. CIT?

21 judgments on BharatTax cite Virmati Ramkrishna v. CIT (131 ITR 659), spanning 2016 to 2024.

Which sections of the Income Tax Act does Virmati Ramkrishna v. CIT come up under?

It is most often cited in judgments turning on Section 143(3), Section 37(1), Section 57, Section 57(ii), Section 57(iii), Section 58.

Virmati Ramkrishna v. CIT

131 ITR 659High Court1981#5408 most cited

What is Virmati Ramkrishna v. CIT authority for?

Expenditure incurred for the purpose of making or earning income from 'other sources' is deductible if there is a nexus between the expenditure and the income earned. The expenditure must be linked to the income earned, not just the activity that generates the income.

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2016 to 2024.

Also referred to as

Virmati Ramkrishna v. CIT · section 57 · section 37(1) · income from other sources · deduction of expenditure · commercial expediency · nexus between expenditure and income · earning of income

Sections most often in play

Section 143(3)Section 37(1)Section 57 Section 57(ii)Section 57(iii)Section 58

Issues it is cited on

section 57(iii)section 57 commercial expediency capital expenditure section 37(1)section 37 income from other sources section 15 business section 143 person interest

Judgments citing Virmati Ramkrishna v. CIT

Deepak Naraindas Sippy, Chembur Mumbai vs. ACIT 27 ( 1) Mumbai, Mumbai

In the result, appeal of the assessee is allowed

ITA 775/MUM/2024[2015-16]Status: DisposedITAT Mumbai30 Aug 2024AY 2015-16

Bench: Ms Kavitha Rajagopal & Shri Girish Agrawal

For Appellant: Dr. Gopalakrishna, CAFor Respondent: Smt. Mahita Nair, Sr. DR

Section 143(3)Section 57

…the provisions contained in the said section but as per personal surmises and conjectures. 5.1. Assessee placed reliance on several decisions to buttress his contentions. He also placed reliance on the decision in the case of Virmati Ramkrishna vs. CIT (1981) 131 ITR 659 (Guj) which laid down the principles in respect of claim of deduction of expenditure u/s. 57 of the Act. Ld. CIT(A) also reproduced the principles laid down by the Hon'ble Gujarat High Court in the case of Virmati Ramakrishna (supra). He considered the submissions made by the assessee and reproduced the contents of the memorandum of understanding…

Shri Piyush Vinodrai Parekh, Rajkot vs. The DCIT, International Taxation, Rajkot

In the result, the appeal filed by the Assessee is hereby dismissed

ITA 137/RJT/2020[2016-17]Status: DisposedITAT Rajkot22 Mar 2023AY 2016-17

Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (Judicial Member)

Section 143(3)Section 37Section 57

…owance u/s. 57 of the Act does not arise and relied upon decision of the ITAT Ahmedabad in the case of Kaushikhai Nandubhai Patel HUF vs. ACIT (ITA No. 3797/Ahd/2008) and the decision of the Hon’ble Gujarat High Court in the case of Virmati Ramkrishna vs. CIT 131 ITR 659. The Ld. CIT(A) confirmed the addition of Rs. 11,45,971/- as follows: 5.2 From the attachments to the appellant submissions, it is seen that the appellant has dividend income (exempt from tax) of Rs.10,980/-, Interest from saving bank account of Rs.4,562/-, Income from other sources of Rs.8,55,350/- and has claimed deduction of interest paid to S…

Dy CIT Cent. Cir 6(4), Mumbai vs. M/S. Citra Properties Ltd, Mumbai

In the result, the appeal filed by the Revenue is dismissed

ITA 101/MUM/2022[2017-18]Status: DisposedITAT Mumbai03 Feb 2023AY 2017-18

Bench: Shri M. Balaganesh, Am & Ms. Kavitha Rajagopal, Jm Dy. Cit, Central Circle 6(4), M/S. Citra Properties Ltd. M-62, 63, 1St Floor,Connought Place, Mumbai Vs. New Delhi-111 000

For Appellant: Shri K. GopalFor Respondent: Shri Kishor Dhule

Section 115JSection 143(1)Section 143(3)Section 245D(4)Section 250Section 4

…owed the said expenses by placing reliance on the various decisions of the Hon'ble High Court’s and 4 Dy. CIT vs. M/s. Citra Properties Ltd. has relied on the decision of the Hon’ble Gujarat High Court in the case of Smt. Viramati Ramkrishnav vs. CIT [1981] 131 ITR 659 (Guj) and held that the expenses pertaining to advertisement, sales and marketing are to be allowed based on the propositions laid down in the above said judgment and the A.O.’s action in capitalizing the same to WIP was held to be not in accordance with the law. The ld. CIT(A) had directed the A.O. not to add the advertisement, sales and market…

Petronet Mhb Limited, Bangalore vs. The Income Tax Officer, Ward-5(1)(3), Bangalore

In the result, both the appeal of the assessee is allowed

ITA 789/BANG/2022[2013-14]Status: DisposedITAT Bangalore28 Nov 2022AY 2013-14

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year : 2013-14

For Appellant: Shri M.G Vinay Simha, C.AFor Respondent: Shri K.R Narayana, Addl. CIT (DR)

Section 143(3)Section 154Section 37(1)

…come" from "other sources". The nexus thereunder must, therefore, be between the expenditure incurred and the income earned and not between the expenditure incurred and the activity which is the source of the income. [See Smt. Virmati Ramkrishna v. CIT [1981] 131 ITR 659 (Guj.)]. 8.7 We may refer to a decision of the Karnataka High Court in the case of Mysore Kirloskar Ltd. (supra). The Court observed : "While 'the basic requirements for invoking sections 37(1) and 80G are quite different', 'but nonetheless the two sections are not mutually exclusive'. Thus, there are overlapping areas between the donations given…

DCIT- CC-1(2), Mumbai vs. Niranjan L. Hiranandani, Mumbai

In the result, the appeal filed by the revenue is allowed for statistical purposes

ITA 1896/MUM/2021[2015-16]Status: DisposedITAT Mumbai31 Oct 2022AY 2015-16

Bench: Shri Amit Shukla, Jm & Shri Prashant Maharishi, Am आयकरअपीलसं./ I.T.A. No. 1896 & 1895/Mum/2021 (निर्धारणवर्ा / Assessment Year: 2015-16 & 2016-17)

For Appellant: Shri Chetan M. KachaFor Respondent: Shri K. Gopal, Ld. AR

Section 143(3)Section 3Section 57

…ng the amount of interest paid. 6 I.T.A. No. 1896 & 1895/Mum/2021 Shri Niranjan L. Hiranandani Thus, the income received from FD-OBC has been show at NIL. He referred the judgment of Hon’ble Gujarat High Court in the case of Virmati Ramkrishna vs. CIT (1981) 131 ITR 659 and held that assessee has paid interest for genuine reasons and for business and commercial expediency. Thus, according to him there is indirect connection between interest income and interest expenditure. Here the loan was taken for business purposes with a view to protect interest income from FDR. The relevant observation of the Ld. CIT (A) re…

M/S Bosch Limited, Bangalore vs. Assistant Commissioner of Income Tax Ltu Circle-1, Bangalore

In the result, appeal of the assessee is partly allowed

ITA 1629/BANG/2018[2013-14]Status: DisposedITAT Bangalore13 Sept 2022AY 2013-14

Bench: Shri N.V. Vasudevan & Ms. Padmavathy Sassessment Year : 2013-14 Bosch Limited, Vs. The Assistant Commissioner Hosur Road, Adugodi, Of Income Tax, Ltu, Bangalore – 560 030. Circle 1, Pan: Aaacm 9840P Bangalore. Appellant Respondent Appellant By : Shri Percy Pardiwala, Advocate Respondent By : Shri V S Chakrapani, Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 01.09.2022 Date Of Pronouncement : 13.09.2022 O R D E R Per Padmavathy S.2. This Appeal Is Against The Order Of The Cit(Appeals), Bangalore-9, Bangalore Dated 31.3.2018 For The Assessment Year 2013- 14. 3. The Assessee Raised Grounds Pertaining To The Following Issues:- Deduction U/S. 35(2Ab) Computed On Net Expenditure As Opposed To Gross Expenditure Disallowance Of Provision For Bad & Doubtful Debts I) Disallowance Of Provision For Long Term Service Award Disallowance Of Expenditure U/S. 14A Of The Act Ii) Page 2 Of 67

For Appellant: Shri Percy Pardiwala, AdvocateFor Respondent: Shri V S Chakrapani, CIT(DR)(ITAT), Bengaluru

Section 14ASection 35Section 37Section 43BSection 80J

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND Ms. PADMAVATHY S, ACCOUNTANT MEMBER Assessment year : 2013-14 Bosch Limited, Vs. The Assistant Commissioner Hosur Road, Adugodi, of Income Tax, LTU, Bangalore – 560 030. Circle 1, PAN: AAACM 9840P Bangalore. APPELLANT RESPONDENT Appellant by : Shri Percy Pardiwala, Advocate Respondent by : Shri V S Chakrapani, CIT(DR)(ITAT), Bengaluru. Date of hearing : 01.09.2022 Date of Pronouncement : 13.09.2022 O R D E R Per Padmavathy S., Accountant Member 2. This appeal is against the order of the CIT(Appeals), Bangalo…

Dy.CIT Central Cir-6(4), Mumbai vs. M/S. Citra Properties Ltd, Mumbai

ITA 100/MUM/2022[2016-17]Status: DisposedITAT Mumbai25 Aug 2022AY 2016-17

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year: 2016-17 Dy. Commissioner Of M/S. Citra Properties Ltd., M-62 & 63, 1St Floor, Income Tax, Central Circle-6(4), Connaught Place, Room No.1925, Vs. New Delhi – 110001 19Th Floor, Pan: Aadcc 0776B Air India Building, Nariman Point, Mumbai - 400021 (Appellant) (Respondent)

For Appellant: Shri K. Gopal, A.R. &For Respondent: Shri K.C. Kanojiya, D.R

Section 115JSection 143(1)Section 143(2)Section 143(3)Section 147Section 153Section 245D(4)Section 68

…iture is un-remunerative, such expenditure is nonetheless a proper deduction, if such expenditure is made wholly and exclusively for the purposes of earning such income. [Para 2.5] The High Court of Gujarat, in the case of Smt. VrrmatiRamkrishnav. CIT [1981] 131 ITR 659 (GUJ.) has analyzed the statutory language and laid down various principles, in various decided cases and made propositions about allowability of the expenditure. The Hon'ble Gujarat High Court has held as under: ". . . In view of the decision of the same High Court in Smt. PadmavatiJaikrishna v. CIT [1975] 101 ITR 153, the interest on loan tak…

The DCIT, Circle - 4(1)(2), Ahmedabad vs. The Sports Club of Gujarat Ltd., Ahmedabad

In the result, both the appeals of the Revenue as well as Cross

ITA 1917/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad21 Feb 2022AY 2015-16

Bench: Shri Pramod M. Jagtap & Shri Siddhartha Nautiyalsl.

For Appellant: Ms. Kinjal Shah, CAFor Respondent: Shri C.S. Sharma, Sr.DR

Section 143(3)Section 57

…आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण अहमदाबाद "यायपीठ अहमदाबाद "यायपीठ ‘ B ’ अहमदाबाद अहमदाबाद "यायपीठ अहमदाबाद अहमदाबाद । अहमदाबाद IN THE INCOME TAX APPELLATE TRIBUNAL “ B ” BENCH, AHMEDABAD (Through web-based video conferencing platform) ] ] BEFORE SHRI PRAMOD M. JAGTAP, VICE PRESIDENT AND SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER Sl. ITA No(s) / Assess- Appeal(s) / Cross Objection by No(s) CO No(s) ment Appellant vs. Respondent Year(s) Appellant(s) Respondent(s) 1. ITA No. 2014-15 The DCIT The Sports Club of 1809/Ahd/2019 Circle- Gujarat Ltd. 4(1)(2) S…

The DCIT, Circle - 4(1)(2), Ahmedabad vs. The Sports Club of Gujarat Ltd., Ahmedabad

In the result, both the appeals of the Revenue as well as Cross

ITA 1809/AHD/2019[2014-15]Status: DisposedITAT Ahmedabad21 Feb 2022AY 2014-15

Bench: Shri Pramod M. Jagtap & Shri Siddhartha Nautiyalsl.

For Appellant: Ms. Kinjal Shah, CAFor Respondent: Shri C.S. Sharma, Sr.DR

Section 143(3)Section 57

Shri Rameshwar Lal Samdani, Bhilwara vs. ITO, Bhilwara

In the result, the appeal of the assessee is allowed

ITA 264/JODH/2017[2013-14]Status: DisposedITAT Jodhpur28 Jan 2021AY 2013-14

Bench: Shri Sandeep Gosain & Shri Manoj Kumar Aggarwalshri Rameshwar Lal Samdani, Vs. I.T.O., D-43, Shastri Nagar, Bhilwara Ward-3, (Raj)-311001. Bhilwara. Pan No. Adqps 6311 K Assessee By Shri Ajay Moondra Revenue By Shri K.C. Badhok, Cit-Dr Date Of Hearing 03.11.2020 Date Of Pronouncement 29/01/2021

Section 143(3)Section 56Section 57

…ar Lal Samdani Vs ITO there is no finding by the lower authorities that the interest earned out of advances were not out of interest bearing funds taken from various parties. 11. The Hon’ble Gujarat High Court in the case of Vimati Ramakrishana V/s CIT (1981)131 ITR 659 has observed in respect of deduction of an expenditure U/S 57 cited in order to decide whether and expenditure is a permissible deduction U/S 57, the nature of the expenditure must be examined secondly the nature must not be in the nature of capital expenditure or personal expenses of the assessee and third the expenditure must have been laid out…

Ashok M. Wadhwa, Mumbai vs. ACIT (OSD) - 3, Mumbai

In the result, the appeal stands allowed for statistical purposes

ITA 706/MUM/2017[2012-13]Status: DisposedITAT Mumbai17 Mar 2020AY 2012-13

Bench: Shri Shamim Yahya (Am) & Shri C.N. Prasad (Jm)

Section 10Section 10(34)Section 10(38)Section 14Section 14ASection 40ASection 56Section 57Section 57(3)

…incurred to protect and preserve source that yielded, the interest income i.e. loans and advances that earned him the interest. Learned CIT(A) further placed reliance upon the decision of Hon'ble Gujarat High Court in the case of Virmati Ramakrishna Vs. CIT (131 ITR 659) and decision of Hon'ble Supreme Court in the case of Eastern Investments Ltd. Vs. CIT (20 ITR 1) and other decisions regarding the proposition for deduction of expenditure u/s. 57(iii) of the Act. Accordingly learned CIT(A) concluded as under :- “I find that the appellant has not been able to substantiate his claim that the interest paid, even…

Sh. Dharam Pal Aggarwal, Ludhiana vs. ACIT, Ludhiana

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

ITA 91/CHANDI/2019[2013-14]Status: DisposedITAT Chandigarh26 Aug 2019AY 2013-14

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Smt. Chandrakanta, Sr. DR

Section 143(1)Section 250(6)Section 57

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ “एस.एम.सी” , च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCHES, “SMC” CHANDIGARH "ी एन.के.सैनी, उपा"य" BEFORE: SHRI. N.K.SAINI, VICE PRESIDENT आयकर अपील सं./ ITA No. 91 /Chd/2019 "नधा"रण वष" / Assessment Year : 2013-14 Shri Dharam Pal Aggarwal ACIT बनाम 59-K, Sarabha Nagar Circle-6 Ludhiana, Punjab Ludhiana, Punjab "थायी लेखा सं./PAN NO: AAYPA9723E अपीलाथ"/Appellant ""यथ"/Respondent "नधा"रती क" ओर से/Assessee by : Shri Ashwani Kumar, CA राज"व क" ओर से/ Revenue by : Smt. Chandrakanta, Sr. DR सुनवाई क" तार"ख/Date of Hearing : 16/07/2019 उदघोषणा क" तार"ख/Date of P…

Jimmy B. Parikh, Mumbai vs. ITO 18(2)(1), Mumbai

In the result, appeal of the assessee is dismissed

ITA 3719/MUM/2016[2011-12]Status: DisposedITAT Mumbai31 Oct 2018AY 2011-12

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Bleshri Jimmy Bhaskar Parikh V. Income Tax Officer – 18(2)(1) 4302, B Wing, Lodha Ballissimmo, C-10, 7Th Floor, N.M. Joshi Marg, Pratyakshkar Bhavan, Appollo Mill Compound, Bandra Kurla Complex, Mahalakshmi, Mumbai – 400 011 Bandra(E), Mumbai – 400 051 Pan: Afupp 4721 Q (Appellant) (Respondent) Assessee By : Shri Rajen Damani Department By : Shri Manoj Kumar Singh

For Appellant: Shri Rajen DamaniFor Respondent: Shri Manoj Kumar Singh

Section 143(3)Section 57

…, the aforesaid observation is contrary to the expressed provisions of section 57(iii) as well decisions rendered in the cases of Hon'ble Mumbai Tribunal in Lupin Ltd., Mumbai vs ACIT (supra) and Hon'ble Gujarat High Court in Virmati Ramakrishna vs CIT (1981) 131 ITR 659. The Hon'ble Gujarat High Court in Virmati Ramakrishna (supra) has clearly held as under:- "(3) the expenditure must have been laid out or expended wholly and exclusively for the purpose of making or earning "income from other sources'. (4) the purpose of making and earning such income must be the purpose for which the expenditure must have been…

Housing Development & Infrastructure Ltd, Mumbai vs. Deputy Commissioner of Income Tax, Central Circle 5(4), Mumbai

In the result, appeal of the assessee is partly allowed as indicated above

ITA 5986/MUM/2017[2013-14]Status: DisposedITAT Mumbai10 Sept 2018AY 2013-14

Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble

For Appellant: Shri Dr. K. ShivaramFor Respondent: Shri Anadi Varma

Section 115JSection 143(3)Section 263Section 80

…her that such expenditure was laid out or expended wholly and exclusively for the purpose of making or earning the interest Income. 8,3.8 In this connection, It would be pertinent to consider the judicial precedent in the case of Smt Virmati Ramkrishna v. CIT 131 ITR 659 (Guj) wherein the Gujarat High Court has inter allia summed up the fallowing principles or propositions emerging from analysis of the statutory language of section 57(iii) as well as the decided cases: - • The expenditure must not be in the nature of capital expenditure or personal expenses of the assesses. • The expenditure must have been laid o…

Lala Bansi Dhar & Sons, New Delhi vs. ACIT, New Delhi

In the result, the appeal is allowed

ITA 1640/DEL/2015[2011-12]Status: DisposedITAT Delhi04 Sept 2018AY 2011-12

Bench: : Shri Amit Shukla & Shri L.P. Sahuassessment Year: 2011-12

Section 271(1)(c)Section 56Section 57

…essee is eligible to claim deduction against the income earned, offered to tax under the head ‘income from other sources’ upon these facts or not? The first judgment relied upon by the Ld. Assessing Officer / CIT(A) is that of Smt. Virmati Ramkrishna vs. CIT 131 ITR 659 (Gujarat High Court). There were two issues involved. The first issue was the proportionate amount of interest on the loan which was admittedly taken for meeting the obligations of 5 personal nature was disallowed. In other words, the interest paid on the funds borrowed for the purpose of making investments was held allowable u/s 57(iii) of the…

Padamshi Madan Shah, Mumbai vs. DCIT 8(2), Mumbai

In the result, the appeal is allowed for statistical purposes

ITA 3999/MUM/2015[2011-12]Status: DisposedITAT Mumbai30 May 2018AY 2011-12

Bench: Shri Joginder Singh () & Shri N.K. Pradhan () Assessment Year: 2011-12 Vipul Padamshi Shah Deputy Commissioner Of B-42, Swapnashilp, Income Tax, 8(2), Mumbai Vs. Mahant Road, Vile Parle- 209, 2Nd Floor, Aayakar East, Mumbai-400057 Bhavan, M.K. Road, New Marine Lines, Mumbai-400020. Pan No. Aakps5721L (Appellant) (Respondent) Assessment Year: 2011-12 Padamshi Madan Shah Deputy Commissioner Of B-42, Swapnashilp, Income Tax, 8(2), Mumbai Vs. Mahant Road, Vile Parle- 209, 2Nd Floor, Aayakar East, Mumbai-400057 Bhavan, M.K. Road, New Marine Lines, Mumbai-400020. Pan No. Alqps5159R (Appellant) (Respondent)

For Appellant: Mr. Vishwas V. Mehendale, ARFor Respondent: Mr. V. Justin, DR

Section 143(3)Section 57

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI JOGINDER SINGH (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2011-12 Vipul Padamshi Shah Deputy Commissioner of B-42, Swapnashilp, Income Tax, 8(2), Mumbai Vs. Mahant Road, Vile Parle- 209, 2nd floor, Aayakar East, Mumbai-400057 Bhavan, M.K. Road, New Marine Lines, Mumbai-400020. PAN No. AAKPS5721L (Appellant) (Respondent) Assessment Year: 2011-12 Padamshi Madan Shah Deputy Commissioner of B-42, Swapnashilp, Income Tax, 8(2), Mumbai Vs. Mahant Road, Vile Parle- 209, 2nd floor, Aayakar East, Mumbai-400057 Bhav…

Vipul Padamshi Shah, Mumbai vs. DCIT 8(2), Mumbai

In the result, the appeal is allowed for statistical purposes

ITA 3998/MUM/2015[2011-12]Status: DisposedITAT Mumbai30 May 2018AY 2011-12

For Appellant: Mr. Vishwas V. Mehendale, ARFor Respondent: Mr. V. Justin, DR

Section 143(3)Section 57

Vaaya Renewable Energy (Purna) Private Limited, Mumbai vs. Deputy Commissioner of Income Tax, Central Circle 3(1)`, Mumbai

The appeal of the assessee is allowed

ITA 535/MUM/2018[2012-13]Status: DisposedITAT Mumbai03 May 2018AY 2012-13

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Years: 2012-13 Vaaya Renewable Energy Dcit, (Purna) Private Limited, Central Circle-3(1), बनाम/ A-9, Enercon Tower, Veera 19Th Floor, Air India Bldg. Vs. Desai Raod, Veera Nariman Point, Industrial Estate, Mumbai-400021 Andheri (West), Mumbai-400053 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No.Aadcv7290F "नधा"रती क" ओर से / Assessee By Shri Hemakataria राज"व क" ओर से / Revenue By Ms. N. Hemlatha-Dr

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ‘जी’,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “G”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी जी. मंजूनाथ, लेखा सद"य, के सम" Before Shri JOGINDER SINGH, Judicial Member, and Shri G. MANJUNATHA, Accountant Member Assessment Years: 2012-13 Vaaya Renewable Energy DCIT, (PURNA) Private Limited, Central Circle-3(1), बनाम/ A-9, Enercon Tower, Veera 19th Floor, AIR India Bldg. Vs. Desai Raod, Veera Nariman Point, Industrial Estate, Mumbai-400021 Andheri (west), Mumbai-400053 ("नधा"रती /Assessee) (राज"व /Revenue) P.A. No.AADCV7290F "नधा"रती क" ओर से / Assessee by Shr…

Ashok Amritraj, Chennai vs. ITO, Chennai

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 1244/CHNY/2017[2014-15]Status: DisposedITAT Chennai20 Feb 2018AY 2014-15

Bench: Shri A. Mohan Alankamony & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.No.1244/Mds/2017 "नधा"रण वष"/Assessment Year:2014-15 Shri Ashok Amritraj, The Income Tax Officer, Flat No. 10, Chesney Lane, Vs. International Taxation 1(1), Ethiraj Salai, Egmore, Chennai 34. Chennai 600 008. [Pan: Aabpa2975R] (अपीलाथ" /Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से / Appellant By : Shri K. Balasubramanian, Advocate ""यथ" क" ओर से/Respondent By : Shri S. Mohd. Mustafa, Jcit सुनवाई क" तार"ख/ Date Of Hearing : 29.01.2018 घोषणा क" तार"ख /Date Of Pronouncement : 20.02.2018 आदेश /O R D E R Per Duvvuru Rl Reddy:

For Appellant: Shri K. Balasubramanian, AdvocateFor Respondent: Shri S. Mohd. Mustafa, JCIT

Section 142(1)Section 143(2)Section 57

…from other sources”. It is not necessary 7 I.T.A. No.1244/M/17 that income should have been earned as a result of expenditure claimed as deduction under section 57(iii) of the Act. 5.4 The Gujarat High Court in the case of Virmati Ramkrishna vs. CIT (1981) 131 ITR 659, has observed the following propositions in respect of deduction of an expenditure under section 57(iii) of the Act after analysing the statutory language and principles laid down by the Hon’ble Supreme Court in the case of Eastern Investments Ltd. vs. CIT (1951) 20 ITR 1 (SC) and Seth R. Dalmia vs. CIT (1977) 110 ITR 644 (SC) : (i) in order to d…

Hiranandani Akruti Jv, Mumbai vs. DCIT Cen Cir 5(1), Mumbai

The appeal of the assessee is partly allowed

ITA 5678/MUM/2015[2012-13]Status: DisposedITAT Mumbai03 Oct 2017AY 2012-13

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2012-13 Hiranandani Akruti Jv, Dcit, 6Th Floor, Akruti Trade Centre, Central Circle-5(1), बनाम/ Road No.7, Marol, M.I.D.C. Mumbai Vs. Andheri (East), Mumbai-400093 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaaa1443H

Section 115Section 143(1)Section 143(2)Section 143(3)Section 2Section 30Section 37(1)Section 57

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, एच,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “H”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी र"मत कोचर, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Ramit Kochar, Accountant Member Assessment Year: 2012-13 Hiranandani Akruti JV, DCIT, 6th Floor, Akruti Trade Centre, Central Circle-5(1), बनाम/ Road No.7, Marol, M.I.D.C. Mumbai Vs. Andheri (East), Mumbai-400093 ("नधा"रती /Assessee) (राज"व /Revenue) PAN. No.AAAA1443H "नधा"रती क" ओर से / Assessee by Shri Viral Doshi Shri M.C. Omi Ningshen-DR राज"व क" ओर से / Revenue by सुनवाई क" तार"ख /…