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Income Tax Case Laws - Section: 43

 

Income Tax


Cases for Section: 43
 
Showing 1 to 15 of 762 Records
 

2014 (7) TMI 1001 - GUJARAT HIGH COURT

Commissioner of Income Tax Versus Jayant Extraction Industries

Allowability of depreciation on enhanced value – Approval of DCIT before application of Explanation 3 of section 43(1) –Held that:- Tribunal has not considered the issue with respect to depreciation on enhanced value to the successor firm and not wri ......

2014 (7) TMI 853 - ITAT MUMBAI

RIDDI SIDDHI BULLIONS LTD Versus ASSTT COMMISSIONER OF INCOME TAX

Claims of Exemption u/s 10A - Transfer of stock – Held that:- FIFO method has to be applied - the profits for the under valuation is required to be disallowed – CIT (A) observed that the assessee followed the FIFO method on the transfer of 200kgs of ......

2014 (7) TMI 771 - ANDHRA PRADESH HIGH COURT

M/s. Priyadarshini Spinning Mills Ltd. Versus Commissioner of Income-tax AP-I, Hyderabad

Written down value of block assets – reduction of receipt from insurance company as to the damages u/s 43(6)(c) - block assets (WDV), valued at ₹ 68,06,562/- were destroyed in a fire accident - the insurer paid a sum of ₹ 1,54,99,051/- T ......

2014 (6) TMI 475 - CALCUTTA HIGH COURT

Commissioner of Income Tax, Kol-III Versus M/s. Baljit Securities Pvt. Ltd.

Profits and gains from the purchase and sale of shares - Setting off of loss of derivatives and day trading of shares – e meaning of the expression “speculative transaction”. - Held that:- Where an assessee, being the company, besides dealing in othe ......

2014 (6) TMI 285 - ITAT AHMEDABAD

The Green Enviornment Services Co. Op. Services Ltd. Versus The ITO, Ward 6(4), Ahmedabad

Addition of entire subsidy amount received from Govt. – Held that:- The Assessee had shown subsidy as revenue in the books of accounts and had followed mercantile system of accounting – assessee had followed this practice consistently on matching pri ......

2014 (6) TMI 225 - RAJASTHAN HIGH COURT

Commissioner of Income-tax Versus Premier Vegetable Products Ltd.

Deletion of disallowance of entertainment expenses – Held that:- The Tribunal has correctly come to the conclusion that the expenditure claimed by the assessee on tea, coffee, cold drinks, pan, cigarette, biscuits, crockery are not in the nature of e ......

2014 (5) TMI 997 - ITAT DELHI

ACIT, Circle 31(1), New Delhi Versus Shashi Kanta Goenka (HUF)

Sale/purchase of shares under the head capital gains - Held that:- Primarily the intention of assessee is of paramount importance in determining whether the shares were held by it as investment or as stock in trade - All the attendant circumstances h ......

2014 (5) TMI 732 - ITAT MUMBAI

M/s. Jaimin Jewellery Exports Pvt. Ltd. Versus ACIT – 5(2), Mumbai

Disallowance of loss on foreign currency fluctuation - Assessee contended that the revenue disregarded the fact that the assessee needs to enter into forward contract in order to Hedge risk as the amount involved is high and significant – Held that:- ......

2014 (5) TMI 661 - ITAT HYDERABAD

Hyderabad Metropolitan Water Supply & Sewerage Board, Hyderabad Versus ACIT, Circle 6(1), Hyderabad.

Calculation of depreciation – Adjustment of grants-in-aid received towards cost of asset u/s 43(6) of the Act – Held that:- Interpreting the issue of depreciation ‘actually allowed’ in a case where assessee was not taxable under the Income Tax Act ti ......

2014 (5) TMI 359 - GUJARAT HIGH COURT

Commissioner of Income Tax Central-II Versus Jay Enterprises

Disallowance of loss in MCX division – Held that:- Following Commissioner of Income-tax- III Versus Jay Enterprise[2012 (6) TMI 545 - GUJARAT HIGH COURT] - the AO did not deny the fact that the assessee is a bullion merchant and has a terminal of MCX ......

2014 (5) TMI 74 - ITAT KOLKATA

CD. Equisearch (P.) Ltd. Versus Deputy Commissioner of Income-tax

Non-assessment of losses incurred in the business of share trading – Speculation loss under Explanaition to 73 of the Act - Revision u/s 263 - Order prejudicial to the interest of the revenue - The assessee itself had shown the whole of its business ......

2014 (5) TMI 46 - ITAT MUMBAI

ITO 18(1) (3), Mumbai Versus M/s. D. Chetan Kumar & Co.

Deletion of STCG - Valuation of asset –Held that:- The decision in M/s Lalbhai Kalidas & Co. Versus Income Tax Officer 16(3) (2), Mumbai [2013 (11) TMI 682 - ITAT MUMBAI] followed - FAA was of the view that a reading of section 43 clause (c) indicate ......

2014 (4) TMI 567 - ITAT AHMEDABAD

Jethiben K. Patel Discretionary Trust and others Versus Asst. Commissioner of Income-tax Circle 10, Ahmedabad

Recording of reasons u/s 147 of the Act – Validity of issue of notice u/s 148 of the Act – Held that:- Scrutiny of assessment was made but notice u/s.148 was issued within four years – Relying ACIT vs. Rajesh Jhaveri [2007 (5) TMI 197 - SUPREME Court ......

2014 (4) TMI 527 - ITAT MUMBAI

DEPUTY COMMISSIONER OF INCOME TAX AND OTHERS Versus WORLDWIDE MEDIA PVT LTD

Applicability of Explanation 3 to section 43(1) of the Act – Claim of depreciation @ 25% - Actual cost of the copy rights and trademarks - Whether the CIT(A) erred in holding that Explanation 3 to Section 43(1) is not applicable with regard to claim ......

2014 (4) TMI 346 - ITAT MUMBAI

Amu Shares & Securities Limited Versus Dy. CIT - 4(1), Mumbai

Rectification of order u/s 254 of the Act – Recall of order - Jobbing loss treated as speculation income u/s 43(5) of the Act – Held that:- The contention of the assessee challenges the order on its merits, and which is even otherwise outside the sco ......

 
   
 
 
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