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Showing 1 to 9 of 9 Records Search Text: banashankari medical oncology research centre ltd |
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2022 (1) TMI 415 - ITAT BANGALORE Disallowance of foreign exchange loss on restatement of Export Earners Foreign Currency (EEFC) account - CIT(A)/ AO treating the foreign exchange loss on account of restatement of EEFC account as capital in nature - CIT(A) by relying on section 43A of the I.T. Act as amended by Finance Act, 2002 held that the loss on account of fluctuation in foreign exchange can be adjusted at the time of making payment but not on notional basis - HELD THAT:- Section 43A of the I.T. Act applies where an assesse... ... ...
2024 (9) TMI 341 - ITAT DELHI Nature of expenses - Payment of lease rent - AO has considered the type of lease as finance lease - HELD THAT:- In this regard, there are several conflicting decisions from the various Court. The issue under consideration is elaborately dealt by the Co-ordinate Bench of ITAT, Delhi in the case of M/s Minda Corporation Limited [ 2015 (8) TMI 168 - ITAT DELHI ] wherein held disallowance is not justified uphelding the assessee s claim of allowability of lease rentals paid as lessee of the Trucks as... ... ...
2015 (8) TMI 168 - ITAT DELHI Disallowance on account of lease payment made by the assessee - Held that:- AS-19 on accounting for "Leases" issued by the ICAI is only applicable for accounting the lease transaction in the books of accounts. It is a settled law that treatment in the books of accounts is not determinative of liability towards income-tax for the purpose of the Act. The liability under the Act is governed by provisions of the Act and is not dependent on the treatment followed for the same in the books of accounts... ... ...
2012 (12) TMI 238 - ITAT BANGALORE Disallowance u/s 40(a)(ia) - TDS u/s 194H - Assessee has paid brokerage and sales promotion expenses without deducted TDS – Held that:- Following the decision in case of Merilyn Shipping & Transports (2012 (4) TMI 290 - ITAT VISAKHAPATNAM) held that disallowance u/s 40a(ia) can be made only when the amount is payable as on 31st March of every year and it cannot be invoked to disallow expenditure which had actually been paid during the previous year without TDS. To verify the same fact issue rema... ... ...
2019 (12) TMI 1280 - ITAT COCHIN TP Adjustment - consideration of SEZ Unit setting up expenses and Ireland branch expenses as operating in nature while computing the margin of the assessee and consideration of unrealized foreign exchange gain/loss while computing the margin of the assessee - HELD THAT:- The issue with regard to foreign fluctuation expenses, the Chennai Bench in the case of Infac India Pvt. Ltd. vs. DCIT [ 2018 (10) TMI 1814 - ITAT CHENNAI] , we direct the Assessing Officer to exclude the loss on account of fore... ... ...
2018 (2) TMI 50 - ITAT BANGALORE Allowable busniss expenditure - expenses relatable to increase in Share Capital - revenue v/s capital expenditure - Held that:- We find that it is noted by CIT (A) in Para no. 4.1 of his order that the assessee company had sought private equity investment from different investors and the prospective investors had conducted various audits and due diligence study to ensure the viability of such investment. It is also noted by CIT(A) that M/s. Napean Trading and Investment Co Pvt. Ltd. was engaged ... ... ...
2008 (8) TMI 346 - KARNATAKA HIGH COURT Hiring of equipments - Capital Expenditure versus Revenue Expenditure – The appellant-assessee has taken certain equipments on lease for which a sum of Rs. 10,00,000 is paid as deposit and it is also paying rentals payable to the owner of the equipments – held that - It is no doubt true that the assessee has paid the deposit of Rs. 10,00,000 which has to be adjusted towards the rentals. When such being the case, we are of the opinion that the Commissioner of Income-tax (Appeals) was justified in... ... ...
2019 (11) TMI 209 - ITAT DELHI Disallowance of principal payments made towards finance lease - allowable revenue expenditure - HELD THAT:- It is well settled Law that rule of consistency do apply to the income tax proceedings. Therefore, the A.O. should not have taken out a different view in the assessment year under appeal, when similar claim of assessee have been allowed as revenue expenditure in earlier years. Nature of infrastructure facilities provided to the assessee on lease rent, it is clear that the same have been pr... ... ...
2019 (10) TMI 74 - ITAT DELHI Reopening of assessment u/s 147 - validity of reasons to believe - HELD THAT:- There is nothing on the basis of which it can be said that there was failure on the part of the assessee to disclose all material facts fully and truly. Infact we are unable to even find any allegation by the AO to the effect that there was failure on the part of the assessee to disclose all material facts fully and truly. Even at the time of hearing before us, it was not the case of the DR that the assessee has faile... ... ...
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