Section 41 Archives - taxcaselaw.com

Sec. 10(35), Sec. 10(23C), Sec. 10(23C)(vi), Sec. 139(1), Sec. 35(1)(ii), Sec. 43(4), Section 11, Section 12, Section 139, Section 28, Section 288, Section 35, Section 41

Delhi H.C : The petitioner has been denied approval under Section 35(1)(ii) of the Income tax Act 1961

Avijit Das / April 8, 2019

High Court Of Delhi Manipal Academy Of Higher Education vs. Union Of India & Anr. S. Ravindra Bhat & Prateek […]

Section 23, Sec. 260A, Sec. 41(1), Section 41

Madras H.C : Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is right in law in confirming the assessment of Rs.58,60,105/- as income of the appellant, invoking Section 41(1) of the Income Tax Act?

Avijit Das / March 11, 2019

High Court Of Madras West Asia Exports & Imports (P) Ltd. vs. Assistant Commissioner Of Income Tax Section 23, 41,

Sec. 41(1), Section 41

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding the amount received towards Capital Subsidy from M/s. Royal Sun and Alliance Pic, for infusion of additional capital by the appellant in the joint venture company as per the terms of Letter of Intent, dated 05.04.2000 is revenue receipt chargeable to tax?

Avijit Das / March 6, 2019

High Court Of Madras Sundaram Finance Limited vs. Assistant Commissioner Of Income Tax Section 41(1)(b) Asst. Year 2002-2003 Dr. Vineet

Sec. 41(1), Section 80-IA

Kerala H.C : Whether the expenditure incurred insofar as carrying out repairs of the office of the assessee should be a revenue expenditure or a capital expenditure

Avijit Das / January 7, 2019

High Court Of Kerala South India Corporation Ltd. vs. Assistant Commissioner Of Income Tax And Anr. Section 41(1), 80-IA and

Sec. 41(1), Income Tax Case Laws

Madras H.C : Exchange fluctuation, provision written back, should be treated as income derived out of business for computation of deduction under Section 80HHC, esp cially when these were not treated as part of the total turnover

Avijit Das / October 25, 2018

High Court Of Madras CIT vs. TTK Lig Ltd. T.S. Sivagnanam & V.Bhavani Subbaroyan, JJ. Section 41(1), 80HHC Asst. Year

Section 35DDA, Sec. 36(1)(vii), Sec. 41(1)

Punjab & Haryana H.C : the learned ITAT was right in law in upholding the order of CIT(A) in deleting the addition of Rs.90,97,536/-made by the Assessing Officer on account of bad debts written off disregarding the fact that the assessee had failed o prove that the written off debts had actually become bad and also failed to furnish any justification

Avijit Das / August 28, 2017

High Court Of Punjab & Haryana Pr.CIT vs. ECO Auto Components Private Limited Ajay Kumar Mittal & Amit Rawal, JJ

Section 41

Madras H.C : WGI had written off the monies in question, when the Appellant – Assessee’s specific plea was that these monies had been converted into equity

Avijit Das / August 10, 2017

High Court Of Madras Transworld Garnet India (P.) Ltd. Vs. ACIT, Company Circle III(2), Chennai Section : 41 Assessment Year

Sec. 10(29), Sec. 41(2)

Delhi H.C : Income eligible for deduction under section 10(29) is to be computed taking gross receipts from warehousing and Inland Container Depot without deducting amount of depreciation

Avijit Das / August 1, 2017

High Court Of Delhi Pr.CIT-2, New Delhi Vs. Central Warehousing Corporation Section 10(29), 41(2) Assessment years 1989-90, 1993-94, 1997-98, 1999-2000

Sec. 41(1)

Gujarat H.C : the ingredients of Sec. 41 are not satisfied inasmuch as the appellant has not claimed any deduction or allowance in respect of the trading liability and the said trade liability has not ceased to exist during the A.Y.-2012-13 and therefore, the amount could not be added in the income under Section 41 of the Income Tax Act

Avijit Das / June 12, 2017

High Court Of Gujarat Gujtron Electronics (P.) Ltd. Vs. ITO Section : 41(1) Assessment Year : 2012-2013 Akil Kureshi And

Section 72A, Sec. 41(1), Section 41

S.C : The over due interest waived by the financial institutions amounting to Rs.25.02 lakhs is not assessable in the hands of the assessee

Avijit Das / March 9, 2017

Supreme Court Of India Mcdowell & Company Ltd. vs. CIT, Karnataka Central, Bangalore Section 72A, 41(1) Assessment year 1983-84 A.K.