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The Acit, Kheda Circle, Nadiad vs M/S. Asian Food Industries,, Nadiad on 28 January, 2019 cites

Acit vs Smt. Pushpa Devi Jain [Alongwith Ita ... on 28 December, 2004

6. We, therefore, find no infirmity in the order passed by the Learned CIT(A) taking into consideration the order passed by the Co-ordinate Bench and also judgment passed -8- ITA No.277/Ahd/2016 The ACIT vs. Asian Food Industries Asst.Year - 2012-13 by the Hon'ble Jurisdictional High Court as mentioned therein. Hence, having no infirmity found in the order passed by the Learned CIT(A), we confirm the same.
Income Tax Appellate Tribunal - Delhi Cites 33 - Cited by 188 - Full Document

Commissioner Of Income-Tax, Calcutta vs J. K. Eastern Industries (Private) ... on 19 June, 1963

This decision of the jurisdictional Tribunal is based upon the decision of Hon'ble High Court of Gujarat in the case of CIT Vs. J.J. Industries 358 ITR 531 Gujarat. In this decision, the High Court had held that interest from fixed deposit of spare fund cannot be excluded from book profit for purpose of determining allowable deduction of remuneration paid to partners. Thus, the jurisdictional High Court had clearly held that interest earned from FDR made out of surplus fund available with the assessee is also be considered as part of the book profit for the purposes of computation of remuneration to be paid to partners. Thus, the issue in the current appeal is covered in favour of the appellant by this decision of jurisdictional High court. Following the same, the AO is directed to consider these incomes for the purposes of computation of book profit and accordingly the disallowance made out of remuneration to partners is directed to be deleted."
Calcutta High Court Cites 10 - Cited by 38 - Full Document
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