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S. a. builders ltd. vs. cit 288 itr 1

WebJul 10, 2009 · R & D: S.A. Builders Ltd. v CIT and another (SC) [2007 (288) ITR 1] (14/12/2006) Featured Video Labels Accounting Standards (15) article (16) BLANK FORMS (13) CA exams file (1) CA members (97) CA STUDENT (85) Case Laws (158) Companies Act (9) Company Secretary (5) Cost Accounting standards (3) Exchange rates (import and … WebJan 11, 2024 · In the case of S.A. Builders vs. CIT, 288 ITR 1, the Hon’ble Supreme Court held as under:- “ The expression ‘commercial expediency’ is an expression of wide import and includes such expenditure as a prudent businessman incurs for …

M/s Hindalco Industries Co. v CIT on 09 August 2016 - Judgement ...

Web432 rows · S. A. Builders Ltd. vs. CIT 288 ITR 1 If the assessee debits the P&L A/c and … WebAug 9, 2016 · This provision came up for consideration in S.A. Builders Ltd. v. CIT (Appeals) (2007) 288 ITR 1 (SC). Court held that the term "for the purpose of business" is wider in scope than the expression "for the purpose of earning profits" and relied on its earlier decisions in CIT v. Malayalam Plantations Ltd. (1964) 53 ITR 140 (SC) and CIT v. smithsburg high school graduation 2023 https://wedyourmovie.com

SC To Reconsider Verdict In S. A. Builders on allowability …

WebDec 26, 2015 · The Supreme Court in Swadeshi Cotton Mills Co. Ltd. vs. CIT [1967] 63ITR 57 has held that the question whether an amount claimed as an expenditure has been laid out or expended wholly and exclusively for the purpose of the assessee’s business or profession or vocation has to be decided on the facts and in the light of the circumstances of each … WebIn S.A. Builders Ltd.'s case (supra), it was held that in order to decide whether it was for commercial expediency, the authorities and the courts should have examined the purpose … Web[S.A Builders Ltd. v. CIT (A) [2007] 288 ITR 1 (SC)] 16.8 He submitted that courts have held in various cases that the department cannot impute a notional income to an assessee, even if the consideration charged by an assessee for … smithsburg high school logo

If the own funds are sufficient to cover interest free advances

Category:No interest disallowance if Own Funds Sufficient to Cover …

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S. a. builders ltd. vs. cit 288 itr 1

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WebNov 20, 2009 · In the light of the above facts, the decision of the Hon ble Supreme Court in the case of S.A. Builders Ltd., Smt. Chanchal Katyal v. CIT 298 ITR 182, CIT v. Tinbox Co. 260 ITR 637, CIT v. Hotel Savera 239 ITR 795 and also the Tribunal decision reported in 90 ITD 1 support the case of the assessee and the claim of the assessee is liable to be ... WebNov 20, 2007 · The Supreme Court affirmed the decision of the tribunal and the High Court, wherein it was held that business of civil construction would not amount to carrying on any manufacturing activity for the purpose of section 32AB. Therefore the claim for investment allowance was not allowed as the assessee.

S. a. builders ltd. vs. cit 288 itr 1

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WebNov 20, 2009 · In the case reported in 298 ITR 182, the Hon ble Allahabad High Court held if the assessee is having sufficient non-interest bearing funds other than the borrowed … Web(A) and ANR(2007) (288 ITR 1) wherein the assessee has advanced interest free loan to its sister concerns out of borrowed funds. The assessee claimed interest Page 3 of 8ITA Nos.581 656 and 1142 of 2014 SKS Microfinance Ltd Hyderabad on such funds as revenue expen diture on the grounds

WebMay 29, 2009 · The payment of interest on the amount not used in the business cannot be regarded as a business expenditure as the business does not derive any benefit from the outgoing by way of interest on an amount which is no longer used in the business, but had been diverted from the business. WebMay 6, 2012 · S. 36(1)(iii): S. A. Builders 288 ITR 1 (SC) to be reconsidered. The assessee borrowed funds and used it to subscribe to the equity capital of its subsidiary company. …

WebJul 10, 2009 · S.A. Builders Ltd. v CIT and another (SC) [2007 (288) ITR 1] (14/12/2006) Income Tax Act, 1961, s. 36 (1) (iii) – Held, we have to see the transfer of the borrowed … WebJul 24, 2015 · S.A BUILDERS LTD. v. COMMISSIONER of INCOME TAX (APPEALS) reported in (2007) 288 ITR 1 and the decision of the Calcutta High Court in COMMISSIONER …

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WebMay 14, 2014 · In our view, S.A. Builders Ltd. vs. Commissioner of Income-Tax (Appeals) and Another, reported in 288 ITR 1, needs reconsiderationRead more › CIT vs. Cargil Global Trading Pvt. Ltd (Supreme Court) The assessee paid Rs. 3.97 Crores to an associate concern in Singapore on account of discounted charges for getting the export sale bills ... riverboat cruise in nashvilleWebDec 25, 2024 · Commissioner of Income Tax (Appeals) [ (2007) 288 ITR 1 (SC)] and holding that if the business purpose is there while advancing money to the sister concern the disallowance of interest cannot be sustained without appreciating that the said case is clearly distinguishable from the present case where interest bearing funds have inter alia … river boat cruise bangkokWebDec 24, 2014 · In our view,S.A. Builders Ltd. vs. Commissioner of Income-Tax (Appeals) and Another, reported in 288 ITR 1, needs reconsideration. Conclusion from TulipStar Hotels … river boat cruise manchester