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Income Tax Case Laws - Section: 43


Income Tax

Cases for Section: 43

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Showing 1 to 15 of 777 Records

2014 (11) TMI 445 - ITAT BANGALORE

Resil Chemicals (P.) Ltd. Versus Deputy Commissioner of Income-tax, Circle -12(4), Bangalore

Disallowance of sales commission accrued but not due – Held that:- As decided in assessee’s own case for the earlier assessment year, it has been held that the assessee has been crediting sales commission as and when the liability has arisen by the s ......

2014 (11) TMI 279 - ITAT COCHIN

M/s. Geojit Investment Services Ltd., Versus The Assistant Commissioner of Income-tax, Circle-1 (2), Ernakulam.

Disallowance u/s 14A – Computation under rule 8D(2)(ii) - Held that:- It is only the interest on borrowed funds that would be apportioned and the amount of expenditure by way of interest that will be taken will exclude any expenditure by way of inter ......

2014 (10) TMI 776 - ITAT MUMBAI

Araska Diamond Pvt. Ltd. Versus ACIT 5(1), Mumbai

Foreign currency forward contract treated as speculation loss – Held that:- The assessee is dealing in diamonds, it had entered in to 24 forward contracts, that total forward contract cancelled were of ₹ 28 Crores, that the total sales during t ......

2014 (10) TMI 659 - ITAT KOLKATA

Deputy Commissioner of Income-tax, Vs. M/s. Baljit Securities Private Limited

Scope of Explanation to sec. 73 – Deemed speculative loss or not - Whether delivery based share trading loss come under the ambit of Explanation to sec. 73 of the Act or not – Held that:- The assessee is engaged in the business of share trading which ......

2014 (10) TMI 398 - GUJARAT HIGH COURT

Commissioner of Income Tax-IV Versus Sandvik Chokshi Ltd.

Depreciation on enhances value of assets disallowed – Intention to reduce tax liability or not - Slump sale – Held that:- At the time of transfer of the assets, the assessee had no income for it to reduce its tax liabilities by way of such transfer, ......

2014 (10) TMI 288 - ITAT PUNE

Asstt. Commissioner of Income Tax Versus South Asia Tyres Ltd., Good Year South Asia Tyres Pvt. Ltd.

Depreciation on second hand machinery – Failure to produce WDV – Invocation of explanation 3 of section 43 – Held that:- As decided in assessee’s own case for the earlier assessment year, it has been held that the AO disallowed depreciation to the ex ......


The Commissioner of Income Tax III, Ludhiana Versus M/s Malwa Cotton Spinning Mills Limited, IAA, Ludhiana

Interest receivable on investment in capital WIP – Explanation 8 to section 43(1) ignored or not – Held that:- Following the decision in Deputy CIT v. Core Health Care Ltd. [2008 (2) TMI 8 - SUPREME COURT OF INDIA] - the provisions of Explanation 8 ......


ITO. Versus Vadilal Chemicals Ltd.

Adjustment on sale of cylinders - Whether the Tribunal is right in deleting the prima facie adjustment made u/s 143(1)(a) in respect of sale of cylinders despite the clear provisions of section 43(6)(c)(B) of the Act – Held that:- The AO made the adj ......

2014 (9) TMI 255 - ITAT AHMEDABAD

DCIT Cir. 1(2), Baroda Versus M/s. Inox Leisure Ltd.

Collection of Entertainment tax is a trading receipt or not - exemption of multiplexes – Subsidy received after completion of cinema house and commencement of operation - Capital or revenue in nature – Held that:- In respect of Pune multiplex the sub ......

2014 (9) TMI 161 - ITAT JAIPUR


Genuineness of transaction - Whether purchase transactions of shares of LIL are genuine – Held that:- The transaction of purchase was arranged through M/s P.K. Agrawal & Company. Shares in both the cases are of the same company i.e. LIL - Both the as ......

2014 (8) TMI 869 - ITAT KOLKATA

Ambo Agro Products Ltd. Versus Deputy Commissioner of Income-tax

Damages for Breach of Contract considered as Speculation Loss – Transaction treated as speculative transaction u/s 43(5) - Held that:- Settlement of disputes allowing damages is termed as washed out contracts in international market - the orders for ......

2014 (8) TMI 839 - ITAT AHMEDABAD

M/s. Inox Leisure Ltd. Versus The DCIT, Circle-1(2), Baroda

Nature of receipt – Entertainment tax – Revenue or capital receipt - Incentive given to assessee for assisting him in carrying out the business operations – Held that:- The State Government proceeded to exempt entertainment tax for a period of 5 year ......

2014 (8) TMI 271 - ITAT DELHI

Saipem Triune Engineering Pvt. Ltd. Versus DCIT Circle 7(1), New Delhi

Enhancement of income – No reasonableness of purchase consideration – Held that:- CIT(A) has not only upheld the disallowance of depreciation but he has held that the entire payment sum was to be disallowed u/s 40A(2) - CIT(A) has referred that Shri ......


Asst. CIT. Versus Manubhai Tribhovandas (HUF)

Interest income allotted to be taxed on proportionate basis - Whether the Tribunal is right in holding that the interest income in the hands of the assessee allotted in the three years IDBI capital bonds is required to be taxed only on proportionate ......

2014 (7) TMI 1065 - ITAT AHMEDABAD

The ACIT, Circle-4, Ahmedabad Versus Heavy Metal and Tubes Ltd.

Additional depreciation on windmill – Held that:- Assessee has installed a Windmill during the year - CIT(A) while deciding the issue has given a finding that the Assessee is already engaged in the business of manufacturing of production of Pipes and ......



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