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Income Tax Case Laws - Section: 43

 

Income Tax


Cases for Section: 43
 
Showing 1 to 15 of 773 Records
 

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 ......

2014 (10) TMI 252 - PUNJAB AND HARYANA HIGH COURT

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 ......

2014 (9) TMI 823 - GUJARAT HIGH COURT

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

INCOME TAX OFFICER Versus SMT MEENA BAID

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 ......

2014 (8) TMI 36 - GUJARAT HIGH COURT

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 ......

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 ......

 
   
 
 
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