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Kokuyo Camlin Ltd, Mumbai vs Asst Cit 10(1)(2), Mumbai on 4 October, 2019 cites

Acit, New Delhi vs M/S. Osn Infrastructure & Projects Pvt. ... on 20 April, 2018

Further, in ACIT vs. OSN Infrastructure & Projects Pvt. Ltd. (supra), the said assessee was engaged in the business of development of infrastructure, construction and real estate trading, advance/ money to various parties to buy land, the said parties failed to buy land and pay money, however in the case in hand the assessee funded the capital working requirement. Thus, the advance was made for business expediency. Thus, both the case is based on peculiar facts of those cases and is not applicable on the present case.
Income Tax Appellate Tribunal - Delhi Cites 14 - Cited by 2 - Full Document

M/S.Tamilnadu Magnesite Ltd vs The Assistant Commissioner Of Income ... on 5 June, 2018

5. The ld. AR of the assessee submits that the case law of Hon'ble Bombay High Court relied by Assessing Officer in Salem Magnesite Pvt. Ltd vs. CIT [(2009) 180 Taxman 545 (Bom)] is distinguishable on the fact. In the said case the money advanced to subsidiary was realized for purchase of capital asset, write off of capital asset, write off of those amount by holding companies are not allowed as revenue deduction. However, in the case of assessee, the advances were made to meet the working capital. Further, the case law relied upon by CIT(A) in DCM Ltd. 9123 TTJ 145 (Del.) is also not applicable on the facts of the present case as in the said case, the loan was given by the assessee to 4 ITA No. 5190 Mum 2018-Kokuyo Camlin Limited.
Madras High Court Cites 13 - Cited by 4 - T S Sivagnanam - Full Document
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