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Reversal of Cenvat credit CENVAT CREDIT TO DEVELOPERS Procedure to sent back the rejected imported material Applicability of State VAT or CST valuation job work BUDGET CHANGES REGARDING DTA CLEARANCES Cenvat Credit CT -1 procedure current local tax rate (vat rate) for s.s patta/ coil / strip Rules of register

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


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 ......


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 ......


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 ......


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 ......


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


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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