Vora Warehousing (P.) Ltd. v. ACIT

70 ITD 518Income Tax Appellate Tribunal1999#18204 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2018.

Judgments citing Vora Warehousing (P.) Ltd. v. ACIT

Tulsi Shipping P. Ltd, Mumbai vs. ITO 2(3)(3), Mumbai

In the result, both the appeals of assessee are allowed

ITA 273/MUM/2018[2009-10]Status: DisposedITAT Mumbai25 Apr 2018AY 2009-10

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

Section 143(3)

…ecay of goods stored due to vagaries of moisture/temperature, fungus formation, etc., besides security and protection of goods stored. In this context, the decision of the Mumbai bench of the Tribunal in the case of Vora Warehousing (P.) Ltd. vs. ACIT, [1999] 70 ITD 518 (Mum)(SMC) is also relevant where it has been observed that the warehouses constructed with facility to store goods are to be considered as „commercial assets‟ and income realised by letting-out such facility was assessable as „business income‟. Considered in the aforesaid light, in our view, in the present case, the Assessing Officer was not just…

Tulsi Shipping P. Ltd, Mumbai vs. ITO 2(3)(3), Mumbai

In the result, both the appeals of the assessee are allowed, as above

ITA 5558/MUM/2016[2013-14]Status: DisposedITAT Mumbai01 Feb 2018AY 2013-14

Bench: Shri G.S. Pannu & Shri C.N. Prasad

For Appellant: Ms. Aasifa KhanFor Respondent: Shri V. Justin

Section 14Section 143(3)Section 147

…ecay of goods stored due to vagaries of moisture/temperature, fungus formation, etc., besides security and protection of goods stored. In this context, the decision of the Mumbai bench of the Tribunal in the case of Vora Warehousing (P.) Ltd. vs. ACIT, [1999] 70 ITD 518 (Mum)(SMC) is also relevant where it has been observed that the warehouses constructed with facility to store goods are to be considered as ‘commercial assets’ and income realised by letting-out such facility was assessable as ‘business income’. Considered in the aforesaid light, in our view, in the present case, the Assessing Officer was not just…

Tulsi Shipping P. Ltd, Mumbai vs. ITO 2(3)(3), Mumbai

In the result, both the appeals of the assessee are allowed, as above

ITA 5708/MUM/2015[2008-09]Status: DisposedITAT Mumbai01 Feb 2018AY 2008-09

Bench: Shri G.S. Pannu & Shri C.N. Prasad

For Appellant: Ms. Aasifa KhanFor Respondent: Shri V. Justin

Section 14Section 143(3)Section 147

…ecay of goods stored due to vagaries of moisture/temperature, fungus formation, etc., besides security and protection of goods stored. In this context, the decision of the Mumbai bench of the Tribunal in the case of Vora Warehousing (P.) Ltd. vs. ACIT, [1999] 70 ITD 518 (Mum)(SMC) is also relevant where it has been observed that the warehouses constructed with facility to store goods are to be considered as ‘commercial assets’ and income realised by letting-out such facility was assessable as ‘business income’. Considered in the aforesaid light, in our view, in the present case, the Assessing Officer was not just…

Four Oceans Publishers P.Ltd, Mumbai vs. ITO 1(1)(3), Mumbai

In the result, the assessee’s appeal for A

ITA 4466/MUM/2013[2006-07]Status: DisposedITAT Mumbai09 Nov 2016AY 2006-07

Bench: Shri Jason P. Boaz & Shri Amarjit Singh Four Oceans Publishers P. Ltd. Income Tax Officer-1(1)(3) C/O. Strand Book Stall Room No. 531A, 5Th Floor Dhannur Ground Floor Vs. Aayakar Bhavan, M.K. Road Sir P.M. Road, Fort Mumbai 400020 Mumbai 400001 Pan – Aaacf4958M Appellant Respondent

For Appellant: Shri Nitesh JoshiFor Respondent: Shri Ranathir Gupta

…learned A.R. of the assessee placed reliance on the following judicial pronouncements which he submitted were based on similar factual situations: - (i) CIT vs. NDR Warehousing Pvt. Ltd. (2015) 372 ITR 690 (Mad.) (ii) Vora Warehousing (P) Ltd. vs. ACIT (1999) 70 ITD 518 (Mum) 7 Four Oceans Publishers P. Ltd. It was also contends that the judicial decisions relied on by the authorities below were not applicable to the factual or legal position of the case on hand. 4.3 Per contra, the learned D.R. for Revenue placed reliance on the orders of the authorities below. 4.4.1 We have heard the rival contentions and peru…

M/S Kisan Gramin Bhandaran vs. ITO

Appeal is allowed

ITA 604/DEL/2016[2007-08]Status: DisposedITAT Delhi27 Jun 2016AY 2007-08

Bench: Shri I.C. Sudhir & Shri O. P, Kant Assessment Year: 2007-08 Kisan Gramin Bhandaran, Vs. Ito, Asalatpur Jarai, Chandausi, Chandausi (Up) (Up) (Pan: Aaifk1137C) (Appellant) (Respondent) Assessee By: Shri Piyush Kaushik, Adv. Department By: Smt. Rishpal Bedi, Sr. Dr Date Of Hearing : 18 .04.2016 Date Of Pronouncement: 27:06.2016 Order Per I.C. Sudhir:The Assessee Has Questioned First Appellate Order On The Ground That The Learned Cit(Appeals) Was Justified In Upholding Rental Income Received On Letting Out Warehouses Under The Head “Income From House Property” Against The Business Income Shown By The Assessee. 2. Heard & Considered The Arguments Advanced By The Parties In View Of Orders Of The Authorities Below, Material Available On Record & The Decisions Relied Upon. 3. The Facts In Brief Are That The Assessee, A Partnership Firm Had Disclosed Rental Income Of Rs.8,11,046 As Business Income In Its Profit & Loss Account & Net Income Of Rs.2,325 Was Shown As Business Income After

For Appellant: Shri Piyush Kaushik, AdvFor Respondent: Smt. Rishpal Bedi, Sr. DR

Section 143(3)Section 147Section 148

…cision of Hon'ble jurisdictional Allahabad High Court in the case of CIT vs. Goel Builders – 331 ITR 344 (All). He also placed reliance on the following decisions: i) CIT vs. Shaan Finance Pvt. Ltd. – 231 ITR 308 (SC); ii) Vora Warehousing (P) Ltd. Vs. ACIT – 70 ITD 518; iii) Shreeji Exhibitors Vs. ACIT – ITA No. 640/M/2014 dated 14.8.2015; iv) M/s. Bhuvan Leasing & Infra-structure Vs. ITO – ITA No. 4977/Mumbai/2006 dated 10.6.2015. 6. The Learned Senior DR on the other hand placed reliance on the orders of the authorities below. He submitted that the Learned CIT(Appeals) has discussed the issue in detail and the…