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Income Tax Case Laws - Section: 43

Cases for Section: 43
Showing 1 to 15 of 814 Records

2015 (6) TMI 284 - ITAT DELHI

Income Tax Officer, Ward-11 (1) , Revenues Versus M/s Emperor International Ltd.

Disallowance of loss - transactions related to sale purchase of shares and derivatives/commodity trading - As per CIT(A) AO was not justified in treating the transactions of derivative trading and commodity future as speculative, and directed AO to a.....

2015 (6) TMI 169 - ITAT MUMBAI

Asstt. Commissioner of Income-tax, Circle-3 (3) , Mumbai Versus M/s. R.T. Exports Ltd.

Disallowance of STT payment - CIT(A) allowed part relief - Held that - The AO has disallowed the relief to the assessee only on the technical ground of delay in filing the revised return. It is pertinent to note that the AO has to assess the correct .....

2015 (5) TMI 714 - ITAT DELHI

ACIT, Circle-I, Meerut Versus Shri Jitender Kumar Gupta

Excess claim of depreciation - Equipments given on hire - cost of acquisition u//s 43(1) - CIT(A)directing to adopt value of the depreciated assets at ₹ 89,10,245 as against ₹ 22,45,000 taken by the Assessing Officer (AO) and consequently.....

2015 (5) TMI 355 - ITAT DELHI

ACIT, Central Circle-25, New Delhi Versus Ascot Investments

Treatment of income - transaction of shares - short term capital gains or business income - Held that - The mutual funds/shares have been shown as investment and not closing stock that the closing balance have been valued at cost and not at cost or m.....

2015 (5) TMI 228 - DELHI HIGH COURT

Uday Punj Versus Commissioner of Income Tax, (Central) -3

Penalty under Section 271(1)(c) - Disallowance of set-off loss on derivative trading by AO - AO also treated F&O derivatives as business income , disallowing the capital loss claim - Held that - When the present controversy arose, there was some dive.....



Addition on account of hedging loss treated as speculation loss - ITAT deleted part addition accepting additional evidence - Held that - As before the learned CIT(A) the assessee filed the monthly purchase and sale quantity of gold on actual basis an.....

2015 (3) TMI 925 - ITAT AHMEDABAD

Suraj Limited Versus DCIT, Circle-8, Ahmedabad And Other

Treatment to loss - business loss v/s speculation loss - Held that - Ld. Counsel for the assessee has demonstrated that one of the objects of the assessee-company is financing and major portion of the capital is deployed for the purpose of advancing .....

2015 (5) TMI 650 - ITAT KOLKATA

Universal Cables Ltd. And Others Versus Deputy Commissioner of Income-Tax And Others

Allowance of balance 50 additional depreciation u/s 32(1)(ii) - new plant and machinery, purchased and put to use for less than 180 days in the immediately preceding year - Held that - This issue was considered by the Delhi Bench of this Tribunal in .....

2015 (6) TMI 751 - ITAT MUMBAI

Centrum Broking Ltd Versus Asstt. Commissioner of Income Tax

Disallowance of VSAT and Lease line charges u/s 40(a)(ia) - Held that - This issue has been decided in favour of the assessee in the case of The CIT Vs. M/s The Stock and Bond Trading Company (2011 (10) TMI 172 - BOMBAY HIGH COURT) wherein followed c.....

2015 (3) TMI 313 - ITAT DELHI


Disallowance of depreciation u/s 32 - invoking Explanation 3 of Section 43(1) of the I.T. Act, 1961 - CIT(A) deleted the addition - Held that - The benefit of enhanced depreciation got almost mitigated because of interest payment of the outsider viz......

2015 (5) TMI 706 - ITAT MUMBAI

IVF Advisors Private Limited Versus The Asstt. Commissioner of Income Tax,

Loss from transactions in foreign currency futures - Applicability of clause (d) of the proviso to section 43(5) of the Income Tax Act, 1961 - Business loss or Speculation loss - Derivative indicates that it has no independent value, i.e. its value i.....

2015 (2) TMI 988 - ITAT BANGALORE

M/s. ING Vysya Bank Ltd. Versus Asst. Commissioner of Income Tax

Expenditure on purchase of software disallowed - Held that - Respectfully following the decisions of the Hon'ble High Court of Karnataka in the case of IBM India Ltd. (2013 (10) TMI 1225 - KARNATAKA HIGH COURT) and the co-ordinate bench of this T.....

2015 (3) TMI 91 - ITAT BANGALORE

M/s. ING Vysya Bank Ltd. Versus The Assistant Commissioner of Income Tax,

Income claimed exempt under Section 10(23G) - assessee is a scheduled bank and carries on banking business - Held that - Before us, the limited request of the learned counsel for the assessee was hat the necessary approvals from the CBDT is available.....

2015 (2) TMI 318 - ITAT MUMBAI

Metro Exporters Pvt. Ltd. Versus Asst. CIT, Circle 6(3), Mumbai

Rectification of mistake - non-application of the provision of section 32(1)(iii) in the instant case - Held that - The order by the tribunal suffers from a mistake apparent from record; the assessee being admittedly a company in the manufacturing of.....

2015 (4) TMI 324 - ITAT AHMEDABAD

Adani Enterprises Ltd. Versus Addl. CIT, Ambawadi, Ahmedabad

Revision u/s 263 - currency Swap Loss on account of hedging of Rupee loan with Dollar loan through OTC contracts with Banks was speculative in nature not excluded as per clause (d) to section 43(5) and was not allowable against income from non-specul.....

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