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“loan from related party”

Cash Credits & Unexplained ItemsSection 68Section 687 judgments

MAHASAKTHI BIO ENERCON PVT. LTD.,COIMBATORE vs. ACIT, CENTRAL CIRCLE-1,, COIMBATORE

In the result, the appeal of the assessee is allowed

ITA 467/CHNY/2025[2013-14]Status: DisposedITAT Chennai15 Jul 2025AY 2013-14

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita No.:467/Chny/2025 िनधा"रण वष" / Assessment Year: 2013-14 Mahasakthi Bio Enercon Private Assistant Commissioner Of Limited, Vs. Income Tax, No.64, Dr. Nanjappa Road, Central Circle -1, Coimbatore – 641 018. Coimbatore. [Pan:Aabci-0022-N] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से/Appellant By : Shri. T. Banusekar, Advocate ""थ" की ओर से/Respondent By : Ms. E. Pavuna Sundari, C.I.T.

For Appellant: Shri. T. Banusekar, AdvocateFor Respondent: Ms. E. Pavuna Sundari, C.I.T
Section 147Section 148Section 151Section 263

depreciation i.e. Rs.55,86,589/- is liable for disallowance. 3. It is seen from the schedule to the Balance sheet under the head ‘Loan from related parties’ a sum of Rs.16,04,48,158/- was received from Imperial Spirits Limited. However, the same is not reflected in Form 3CD. Further ... assessment order relating to 3 issues to the file of the Assessing Officer which are as follows: - TCS on sale of liquor - Loan from Related Party - Imperial Spirits Limited - Penalty & Charges paid to Tasmac (i) TCS on sale of Liquor: – TCS does not have bearing on the computation of Total

QUBIX BUSINESS PARK PRIVATE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-8, PUNE, PUNE

In the result, Ground No.2 of the assessee is allowed for statistical purpose

ITA 1994/PUN/2024[2020-21]Status: DisposedITAT Pune06 Jan 2025AY 2020-21

Bench: DR.DIPAK P. RIPOTE (Accountant Member), SHRI VINAY BHAMORE (Judicial Member)

Section 115JSection 143(3)Section 144BSection 144C(13)Section 144C(5)Section 80

making an addition of Rs.1,83,73,764/- for the following reasons. II. That the TPO is not correct in treating loan from related party as in the nature of secured loan. Nature of loan, being secured or unsecured, does not depend relationship with the person. It depend ... loan and mortgage are the most common types of 6 secured loan. An unsecured loan is not protected by any collateral. Thus the loan from related party in undoubtedly unsecured and a slight higher rate of interest payment is justifiable. Ground No.7- Non grant of deduction under section

BOSCH REXROTH (INDIA) PVT. LTD.,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-1(1)(3), AHMEDABAD

In the result, the appeal filed by the assessee is allowed

ITA 448/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad14 Oct 2024AY 2011-12

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. Advocate & ShriFor Respondent: Shri Ankit Jain, Sr. D.R
Section 145ASection 40

obtained on the strength of guarantee was utilised for capex. c. The nature of the loan transaction was short term funding while the loan from related party is in the nature of long-term funding. x. Without prejudice, it is seen that the bank has provided the funds ... covered is risk and after coverage of such-risk, no guarantee fees has been charged from the assessee. In the case of loan from related party it is very clear that the risk of granting the loan to the assessee was negligible on account of the healthy reserves, and working

HAGGLUNDS DRIVES (INDIA) PVT. LTD. ( NOW MERGED IN BOSCH REXROTH (INDIA) LTD.),,AHMEDABAD vs. THE DY.CIT, CIRCLE-1(1)(2),, AHMEDABAD

In the result, the appeal filed by the assessee is allowed

ITA 931/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad14 Oct 2024AY 2010-11

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri S. N. Soparkar, Sr. Advocate & ShriFor Respondent: Shri Ankit Jain, Sr. D.R
Section 145ASection 40

obtained on the strength of guarantee was utilised for capex. c. The nature of the loan transaction was short term funding while the loan from related party is in the nature of long-term funding. x. Without prejudice, it is seen that the bank has provided the funds ... covered is risk and after coverage of such-risk, no guarantee fees has been charged from the assessee. In the case of loan from related party it is very clear that the risk of granting the loan to the assessee was negligible on account of the healthy reserves, and working

BOSCH REXROTH (INDIA) LTD.,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-1(1)(3),, AHMEDABAD

In the result, the appeal of the Assessee is allowed

ITA 930/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad12 Jul 2024AY 2010-11

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar, Accountnat Member आयकर अपील सं /Ita No.930/Ahd/2015 "नधा"रण वष" /Assessment Year : 2010-11 Bosch Rexroth (India) Ltd. The Income Tax Officer बनाम/ Near Village Iyava Ward-1(1)(3) Sanand Viramgam Highway Ahmedabad V/S. Tal: Sanand Dist: Ahmedabad – 382 170 "थायी लेखा सं./Pan: Aaacm 9898 F अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri S.N. Soparkar, Sr.Advocate & Shri Parin Shah, Ar Revenue By : Shri Samir Tekriwal, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 04/07/2024 घोषणा क" तार"ख /Date Of Pronouncement: 12/07/2024 आदेश/O R D E R Per Shri Makarand V. Mahadeokar, Am: The Captioned Appeal Preferred By The Assessee Is Against The Order Of The Assessing Officer, Ahmedabad Relating To Assessment Year 2010-11 Passed Under Section 143(3) R.W.S.143C(5) Of The Income-Tax Act, 1961 (In Short “The Act) Order Dated 12/12/2015 Passed In Pursuance Of Directions Of The Dispute Resolution Panel (In Short “Drp”) Under Section 144C(5) Of The Act Dated 10/12/2014. Bosch Rexroth India Ltd. Vs. Ito Asst. Year : 2010-11

For Appellant: Shri S.N. Soparkar, Sr.Advocate and Shri Parin Shah, ARFor Respondent: Shri Samir Tekriwal, CIT-DR
Section 143(3)Section 144C(5)

obtained on the strength of guarantee was utilised for capex. c. The nature of the loan transaction was short term funding while the loan from related party is in the nature of long-term funding. x. Without prejudice, it is seen that the bank has provided the funds ... covered is risk and after coverage of such-risk, no guarantee fees has been charged from the assessee. In the case of loan from related party it is very clear that the risk of granting the loan to the assessee was negligible on account of the healthy reserves, and working

ACIT-3(1)(1), MUMBAI vs. GENTEX MERCHANTS PVT. LTD., MUMBAI

Appeal of the revenue is partly allowed

ITA 196/MUM/2024[2017-18]Status: DisposedITAT Mumbai11 Jun 2024AY 2017-18

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

For Appellant: Shri Anuj Kisnadwala, CAFor Respondent: Shri Mahesh Parwani, Sr. DR

assessee had a long term foreign currency loan from its holding company Maurindo Investment Ltd, Mauritius amounting to Rs.64,83,86,000/- and loan from related party i.e. Dalijita Financial & Technical Services Pvt Ltd amounting to Rs.11,99,43,125/- totalling to Rs.76,83,29,125/-. Further, the AO noticed

GERAH ENTRPRISES P. LTD.,MUMBAI vs. PR. CIT, RANGE-20, MUMBAI

In the result, the appeal of the assessee is allowed

ITA 740/MUM/2021[2015-16]Status: DisposedITAT Mumbai30 Mar 2022AY 2015-16

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm Pr. Commissioner Of Income Gerah Enterprises P. Ltd. Tax, Range-20, 1, Piramal Tower, Ganpatrao Room No.611, 6Th Floor, Kadam Marg, Lower Parel (2), Vs. Aayakar Bhavan, M.K. Road, Mumbai-400013 Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaecg7138C

For Appellant: Shri Ronak Doshi, ARFor Respondent: Shri Jasbir S. Chouhan, CIT DR
Section 143(3)Section 263

holding 100% shares of the assessee company. He further referred to note no. 3 of the annual account wherein the understating unsecured loan from related party of Rs. 68,06,874/- is shown. In view of this, he submitted that assessee has furnished details before the Assessing Officer and therefore