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Documents citing M/S. Arshiya Rail Infrastucture Ltd., ... vs Dy Cit - Cc-6(4), Mumbai on 9 September, 2022

M/S Arshiya Ltd. , Mumbai vs Dcit Cc 6 (4) , Mumbai on 8 April, 2024

In our opinion the Supreme Court in East India Pharmaceutical Works Ltd.'s case (supra) had the occasion to consider the decision of the Calcutta High Court in Woolcombers of India Ltd.'s case (supra) where a similar issue had arisen. Before the Supreme Court it was argued that it should have been presumed that in essence and true character the taxes were paid out of the profits of the relevant year and not out of the overdraft account for the running of the business and in these circumstances the appellant was entitled to claim the deductions. The Supreme Court noted that the argument had considerable force, but considering the fact that the contention had not been advanced earlier it did not require to be answered.
Income Tax Appellate Tribunal - Mumbai Cites 27 - Cited by 0 - Full Document

Dy Cit Cc 6(4), Mumbai vs Arshiya Ltd., Mumbai on 8 April, 2024

In our opinion the Supreme Court in East India Pharmaceutical Works Ltd.'s case (supra) had the occasion to consider the decision of the Calcutta High Court in Woolcombers of India Ltd.'s case (supra) where a similar issue had arisen. Before the Supreme Court it was argued that it should have been presumed that in essence and true character the taxes were paid out of the profits of the relevant year and not out of the overdraft account for the running of the business and in these circumstances the appellant was entitled to claim the deductions. The Supreme Court noted that the argument had considerable force, but considering the fact that the contention had not been advanced earlier it did not require to be answered.
Income Tax Appellate Tribunal - Mumbai Cites 27 - Cited by 0 - Full Document

Acit Cc 6(4), Mumbai vs Arshiya Ltd, Mumbai on 8 April, 2024

In our opinion the Supreme Court in East India Pharmaceutical Works Ltd.'s case (supra) had the occasion to consider the decision of the Calcutta High Court in Woolcombers of India Ltd.'s case (supra) where a similar issue had arisen. Before the Supreme Court it was argued that it should have been presumed that in essence and true character the taxes were paid out of the profits of the relevant year and not out of the overdraft account for the running of the business and in these circumstances the appellant was entitled to claim the deductions. The Supreme Court noted that the argument had considerable force, but considering the fact that the contention had not been advanced earlier it did not require to be answered.
Income Tax Appellate Tribunal - Mumbai Cites 27 - Cited by 0 - Full Document
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