COMMISSIONER OF INCOME TAX vs GUJARAT GUARDIAN LIMITED — C.A. No. 7615/2009

Case under Section XIV-A. Status: Disposed.

Disposed

CNR: SCIN010300272009

Filing Date

05-Oct-2009

Registration No

C.A. No. 7615/2009

Diary Number

30027/2009

Order Date

14-Jan-2020

Document Type

ROP - of Main Case

Disposal Type

Dismissed

Last updated 07-Jul-2026

Acts & Sections

Section XIV-A

Petitioner(s)

  1. 1.COMMISSIONER OF INCOME TAX

    Adv. ANIL KATIYAR

Respondent(s)

  1. 1.GUJARAT GUARDIAN LIMITED

    Adv. KAVITA JHA (Designated as Senior Advocate)

Case History

  1. Case disposedDisposed

  2. 14-Jan-2020

    ROP - of Main CaseView PDF

  3. 14-Jan-2020

    Next Week / Week Commencing / C.O.Week

    Hon'ble Mr. Justice A.M. Khanwilkar and Hon'ble Mr. Justice Dinesh Maheshwari

  4. 12-Dec-2019

    Next Week / Week Commencing / C.O.Week

    Hon'ble Mr. Justice A.M. Khanwilkar and Hon'ble Mr. Justice Dinesh Maheshwari

  5. 10-Dec-2019

    Next Week / Week Commencing / C.O.Week

    Hon'ble Mr. Justice A.M. Khanwilkar and Hon'ble Mr. Justice Dinesh Maheshwari

  6. 04-Dec-2019

    Next Week / Week Commencing / C.O.Week

    Hon'ble Mr. Justice A.M. Khanwilkar and Hon'ble Mr. Justice Dinesh Maheshwari

  7. 03-Dec-2019

    Next Week / Week Commencing / C.O.Week

    Hon'ble Mr. Justice A.M. Khanwilkar and Hon'ble Mr. Justice Dinesh Maheshwari

  8. 28-Nov-2019

    Fixed Date by Court

    Hon'ble Mr. Justice A.M. Khanwilkar and Hon'ble Mr. Justice Dinesh Maheshwari

  9. 27-Nov-2019

    Fixed Date by Court

    Hon'ble Mr. Justice A.M. Khanwilkar and Hon'ble Mr. Justice Dinesh Maheshwari

  10. 20-Nov-2019

    ROP - of Main CaseView PDF

  11. 20-Nov-2019

    Next Week / Week Commencing / C.O.Week

    Hon'ble Mr. Justice A.M. Khanwilkar and Hon'ble Mr. Justice Dinesh Maheshwari

  12. 19-Nov-2019

    First hearing

    Initial hearing scheduled

  13. 26-Jul-2013

    Office Report - of Main CaseView PDF

  14. 26-Jul-2013

    ROP - of Main CaseView PDF

  15. 15-Apr-2013

    ROP - of Main CaseView PDF

  16. 19-Sep-2012

    ROP - of Main CaseView PDF

  17. 29-Apr-2011

    ROP - of Main CaseView PDF

  18. 12-Mar-2010

    ROPView PDF

  19. 13-Nov-2009

    ROP - of Main CaseView PDF

  20. 05-Oct-2009

    Case filed

    Registration No. C.A. No. 7615/2009

View Full Judgment
casestatus.in Summary

Summary: C.A. No. 7615/2009 – Commissioner of Income Tax v. Gujarat Guardian Limited The Supreme Court dismissed the Income Tax Commissioner's appeals on January 14, 2020, upholding Gujarat Guardian Limited's right to claim a full deduction of Rs. 8 crores prepayment premium paid to IDBI for debt restructuring. The ITAT and High Court had held that the premium, representing the present value of differential interest rates, qualifies as revenue expenditure under Section 36(1)(ii) and must be deducted in the year of accrual, not apportioned over time as the assessing officer had done. The Court found no reason to differ from the lower courts' reasoning and dismissed both appeals with no order as to costs. This case analysis is maintained by casestatus.in based on publicly available court records.

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