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Income Tax Case Laws - Section: 43

 
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Cases for Section: 43
Showing 1 to 15 of 809 Records
 

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.....

2015 (4) TMI 828 - GUJARAT HIGH COURT

PRINCIPAL COMMISSIONER OF INCOME TAX I Versus GIRISHKUMAR RAMANLAL CHOKSHI AND BROTHERS

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 (3) TMI 313 - ITAT DELHI

DCIT, CIRCLE 2(1) Versus MS AVANTHA POWER & INFRASTRUCTURE LTD.

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 (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 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 (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.....

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 (1) TMI 916 - ITAT HYDERABAD

Sri Karam Ali Khan Versus Income Tax Officer

Taxability of certain rental income in the hands of the assessee - Inheritance at Muslim Law - right of assessee to divide the property or to divide the rent among the family members - Held that - We are not convinced with the claim of the assessee t.....

2015 (3) TMI 535 - ITAT BANGALORE

Dy. Commissioner of Income Tax, Circle 12(4), Bangalore. Versus M/s. Tejas Networks Limited

Product Development Expenditure disallowed - CIT(A) sustained the disallowance as the expenditure resulted in the acquisition of rights in or arising out of scientific research - Held that - The expenditure that is sought to be excluded u/s.43(4)(ii).....

2015 (1) TMI 561 - ITAT MUMBAI

M/s. Godrej & Boyce Mfg. Co. Ltd. Versus The Additional Commissioner of Income Tax

Grant of depreciation - written value of block of assets as per books of account of the assets taken over from the demerged company v/s written down value as per the provisions of Income Tax Act of the transferred assets of the demerged company adopt.....

2015 (1) TMI 567 - CALCUTTA HIGH COURT

Messrs Maud Tea & Seed Co. Ltd Versus Commissioner of Income-Tax, West Bengal-II, Kolkata

Speculative transaction - transactions entered into by the appellant in respect of ACC shares and the loss of ₹ 14.82 lacs incurred - adverse price fluctuation - Scope of section 43(5) - Held that - The undisputed facts in this case, contain in.....

 
   
 
 
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