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1 - 10 of 17 (0.37 seconds)Commissioner Of Income-Tax vs Jain Construction Co. And Ors. on 24 September, 1999
Therefore, the aforesaid case of Hon'ble Rajasthan High Court in the case of CIT
vs. Jain Construction Co. & Ors. (supra) has no application to the issue in dispute
Page 33 of 35
ITA No.- 2504/Del/2016.
The Income Tax Act, 1961
Section 43B in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income Tax, Culcutta vs Karam Chand Thapar & Bros. (P) Ltd on 14 February, 1989
-- (Para -- 4)
• Shri Ram Jhanwar Lai vs. ITO & Ors., (2010) 321 ITR
0400, High court of Rajasthan.-- (Para--8)
• CIT vs. Jain Construction Co. & Ors., (2000) 245 ITR 0527,
High Court of Rajasthan.-- (Para--8)
• CIT vs. Chopra Bros. India (P) Ltd., (2001) 252 ITR 0412, High
Court of Punjab & Haryana. -- (Para 4-6)
• CBDT Circular No: 29-D (XIX-14), dated 31.08.1965--
reproduced in 245 ITR 527 (Raj.) in Para 8.
Commissioner Of Income-Tax vs Bishambhar Dayal And Co. on 11 November, 1993
• CIT vs. Bishambhar Dayal & Co., (1994) 210 ITR 0118, High
Court of Allahabad.
C.I.T.-2,Jodhpur vs M/S Jain Construction Co on 24 November, 2012
We have heard both sides. We find that the decision in the case of CIT vs. Jain
Construction Co. & ors. (supra) is not applicable to the issue in dispute before us. The
case of CIT vs. Jain Construction Co. & ors. (supra) was on whether the payment of
salary, bonus, commission or remuneration deductable to the extent of limit provided
under Section 40(b) will be allowable to the assessee. However, the present appeal
before us is related to the claim of interest expenses on business borrowing of the
assessee and does not relate to interest paid / payable to the partner of partnership
firm.
Section 33B in The Income Tax Act, 1961 [Entire Act]
The Companies Act, 1956
Sri Kanwar Lal Agarwal, Kolkata vs Ito, Ward - 44(2), Kolkata , Kolkata on 25 July, 2018
2. Shri Ram Jhanwar Lal vs. ITO & Ors., (2010) 321 ITR 0400, High Court of
Rajasthan.