Search Results Page
Search Results
1 - 10 of 10 (0.43 seconds)Section 37 in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
The Sports Club Of Gujarat Ltd.,, ... vs The Dcit, Circle - 4(1)(2),, Ahmedabad on 21 February, 2022
11. Accordingly, we observe that on similar set of facts, this issue has
been decided by ITAT Ahmedabad in favour of the assessee in the case
of DCIT vs. Sports Club of Gujarat in ITA No. 2166/Ahd/2014 along
with C.O. No. 21/Ahd/2014.
C.I.T Central-Iii vs M/S Excel Industries Ltd on 8 October, 2013
In the case of CIT vs. Excel Industries
Ld. 38 taxmann.com 100 (SC), the Hon'ble Supreme Court held that
once a consistent view has been taken in favour of the assessee for past
assessment years, there is no reason to take a different view unless there
are very convincing reasons. The Hon'ble Supreme Court observed that
in several assessment years, the Revenue accepted the order of the
Tribunal in favour of the assessee and did not pursue the matter any
further. That being so, the Revenue cannot be allowed to flip flop on the
same issue and ought to, let the matter rest rather than spent the tax
payer's money in pursuing litigation for the sake of it. Similarly,
Hon'ble Supreme Court in the case of RadhasoamiSatsang [1992] 60
Taxman 248 (SC), has made the following observations on the principle
of consistency in tax proceedings:-
The Sports Club Of Gujarat Ltd.,, ... vs The Pr. Cit-4, Ahmedabad on 28 April, 2022
6.1. Before us, Revenue has not brought any contrary binding decision
in its support nor has placed any material on record to demonstrate that
the decisions of the Tribunal in assessee's own case for AY 200-07 has
been set aside by Hon'ble Jurisdictional High Court. We further find that
reliance placed by the Revenue in the case of Sports Club of Gujarat Ltd.
vs. CIT(supra) are on different facts and, therefore, the ratio of the
judgement is not applicable to the facts of the present case. In view of the
aforesaid facts, we find no reason to interfere with the order of the
ld.CIT(A) and thus the ground of Revenue is dismissed.
Section 58 in The Income Tax Act, 1961 [Entire Act]
Chinai And Co. Pvt. Ltd. vs Commissioner Of Income-Tax on 3 August, 1990
We are also supported in our above conclusion by the decision of
this court in Chinai and Co. Pvt. Ltd. v. CIT [1994] 206 ITR 616. in that
case, there was a dispute in regard to deduction of expenditure under
section 37 of the Act. The expenditure was incurred by the assessee in
ITA Nos. 111&112/Ahd/2021
Rajpath Club Ltd. vs.PCIT
Asst. Years -2015-16 & 2016-17
-5-
fighting another group, of shareholders to protect the investment in the
erstwhile managed company. The court held that such an expenditure was
not a business expenditure. It was observed that section 37 of the Act dealt
with deductions, inter alia, of any expenditure laid out or expended wholly
and exclusively for the purposes of business or profession. Such deduction
has to be in respect of any expenditure for business which was carried on
by the assessee at any time during the previous year, it was held that
expenditure incurred in proxy war should not be deducted as business
expenditure.
Engineering Analysis Centre Of ... vs The Commissioner Of Income Tax on 2 March, 2021
We are supported in our opinion by the decision of the Gujarat High
Court in the case of Sarabhai Sons (P.) Ltd. v. CIT [1993] 201 ITR 464. in
that case, it was held that if the dominant purpose for which the
expenditure was incurred was not to earn the income, the expenditure
incurred in that behalf would fall outside the purview of section 57(iii) of
the Act.
The Commissioner Of Income-Tax vs M/S.Sri Ranganathar & Co on 6 August, 2007
(ii) CIT Vs. Ranganathar& Co. [316 ITR 252 (Mad)] (iii)
Gopal Purohit Vs. Jt. CIT [334 ITR 308 (SC)]
The facts of the case are also similar in this year and, therefore,
respectfully following the decision of the department up to A. Y. 2009-10,
the disallowance made by the A. O. is hereby deleted.
1