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Income Tax Case Laws - Section: 43


Income Tax

Cases for Section: 43
Showing 1 to 15 of 750 Records

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 ......

2014 (3) TMI 774 - MADRAS HIGH COURT

Commissioner of Income Tax-I, Chennai Versus M/s. Cholamandalam Investment & Finance Co. Ltd.

Penalty u/s 271(1)(c) of the Act Applicability of section 43(1) of the Act Held that:- In order to invoke the penalty proceedings under Section 271(1)(c) of the Act, the Revenue should prove that the claim made was not sustainable in law and if t ......

2014 (3) TMI 331 - ITAT MUMBAI

M/s. Platinum Asset Management Ltd. Versus Deputy Director of Income Tax

Loss from derivative transactions - Capital loss or business loss - Held that:- The decision in Platinum Asset Management Ltd. Versus Dy. Director of Income Tax (International Taxation) [2013 (12) TMI 478 - ITAT MUMBAI] followed - Income arising to a ......


Commissioner of Income Tax III Versus Paranjay Mercantile Ltd.

Speculative loss - Deletion made under Explanation to section 73 of the Act Nature of Loss - Whether the Tribunal is right in deleting the addition made on account of treating the share trading loss as speculative loss Held that:- The assessee po ......

2014 (2) TMI 505 - ITAT MUMBAI

ACIT Circle-4(2), Versus Upendra K. Doshi

Profits from sale of shares treated as STCG against Business income Held that:- The assessee showed profit from the transfer of shares as Long term capital gain and Short term capital gain which was assessed by the Assessing Officer as such in asse ......

2014 (1) TMI 1175 - ITAT MUMBAI

Shri Rikeen P. Dalal Versus The DCIT 12(3) Mumbai

Activity of sale and purchase of shares - Business income or capital gain - Held that:- Decision The Commissioner of Income Tax Versus Gopal Purohit [2010 (1) TMI 7 - BOMBAY HIGH COURT] followed - The assessee has shown certain income from share tran ......


Commissioner Income Tax Versus Sri Ram Kishan Gupta

Whether loss on transaction of shares is speculative loss - Held that:- Decision in Commissioner of Income Tax Vs. Subhash Chand Shorewala [2004 (1) TMI 327 - ITAT DELHI-F] followed - On some occasions, the loss on the share transaction was consequen ......

2014 (1) TMI 984 - ITAT DELHI

ITO, Ward 5(3), Delhi Versus Sh. Lalit Kumar Poddar

Nature of loss on share transaction - speculative transaction or not - Held that:- The clearing difference has been determined by the appellant on the basis of statement of purchase and sales of shares and securities made on his behalf by broker - A ......

2014 (1) TMI 943 - ITAT MUMBAI

Asstt. Commissioner of Income Tax Versus Shri Chirag Ranjit Nagandhi

Deletion made on account of set off made - Loss on Future and Option set off against the normal business Held that:- There was a credit balance in one account and debit balance in another account - Simply because the broker has not carried out any ......

2014 (1) TMI 841 - ITAT MUMBAI

M/s. Marico Industries Ltd. Versus Asstt. Commissioner of Income tax

Disallowance of Interest under Explanation-8 of Section 43(1) of the Act - Purchase of brand name and trade marks Held that:- In the order of CIT it is not clear as to whether interest had been paid till the date of acquisition of the asset or ther ......


M/s Lachhmi Narain Gupta & Sons Versus Commissioner of Income Tax, Bathinda

Whether transaction of shares on line trading is speculative transaction as specified under Section 43(5) - Held that:- Section 43(5)(d) of the Act was introduced by Finance Act 2005 w.e.f 1.4.2006. The said provision would thus be applicable from as ......

2014 (1) TMI 195 - ITAT AHMEDABAD

Deputy Commissioner of Income-tax, Anand Circle Versus Vikrambhai Ravjibhai Patel

Nature of loss Loss from Speculative transaction or not u/s 43(5) of the Act - Actual delivery of the shares not taken Share transaction settled otherwise than actual delivery Held that:- Relying upon Dy. CIT v. Paterson Securities (P.) Ltd. 2 ......

2013 (12) TMI 478 - ITAT MUMBAI

Platinum Asset Management Ltd. Versus Dy. Director of Income Tax (International Taxation)

Loss from derivative transactions - Capital loss or business loss - Held that:- Income arising to a FII from the transfer of `securities as specified in Explanation (b) to sec. 115AD can only be considered as short-term or long-term capital gain - I ......

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