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2021 (3) TMI 1343 - KARNATAKA HIGH COURTDeduction for payment u/s 37 of the Act towards donation to CM Relief Fund - Disallowance of claim as it cannot be treated as business expenditure and not even coincidental to the business carried on by the assessee - benefit of indexation while calculating long term capital gain - HELD THAT:- The substantial questions of law involved are covered by the decision of the Supreme Court in the case of Sri Venkata Satyanarayana Rice Mill Contractors [1996 (10) TMI 2 - SUPREME COURT] Disallowance under Section 14A read with Rule 8D - HELD THAT:- Substantial question of law involved is covered by the decision of this Court in the case of CIT –v- Karnataka State Industries and Infrastructure Development Corpn. Ltd. [2015 (11) TMI 1631 - KARNATAKA HIGH COURT] Entitled to the benefit of indexation while calculating long term capital gain which are to be considered for the purpose of computing tax liability under Section 115JB - HELD THAT:- Substantial question of law involved is covered by the decision of this Court in the case of Best Trading and Agencies Ltd. [2020 (9) TMI 94 - KARNATAKA HIGH COURT] and decision of this Court in the case of MSR and Sons Investments Ltd. [2011 (9) TMI 1127 - KARNATAKA HIGH COURT]
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