258 ITR

Sec. 115J

S.C : The amounts of business loss, unabsorbed depreciation, unabsorbed investment allowance, etc. as at the beginning of the accounting year are required to be adjusted and set off to the extent of such brought forward business loss, unabsorbed depreciation, etc. would have been adjusted and set off had the assessee been assessed to tax in the regular way in accordance with the provisions of ss. 28 to 43 of the IT Act, 1961, and not by way of application of the provisions of s. 115J(1) and that the resultant amounts of losses, unabsorbed depreciation, unabsorbed investment allowance, etc. only will be required to be carried forward to the next year

Supreme Court Of India Karnataka Small Scale Industries Development Corporation Ltd. vs. CIT Section 115J Asst. Year 1989-90 Ms. Ruma […]

Sec. 35CCA, Section 35

S.C : Whether, on the facts and in the circumstances of the case, the Tribunal having held that the assessee have fulfilled all conditions laid down in section of the IT Act, 1961, r/w r. 6AAA of the IT Rules for deduction of the amount donated to the approved society, which had not come back to the assessee soon after or later on in some form at the other, that Tribunal was justified in law in restoring the matter to the AO on the reasons to the AO on the reasons and grounds given in the order passed on appeal ?

Supreme Court Of India CIT vs. Chotatingrai Tea & Ors. Etc. Section 35CCA Ms. Ruma Pal & B.N. Srikrishna, JJ.

Section 80VV

Delhi H.C : Whether, on the facts and in the circumstances of the case, the expenditure incurred by the assessee in connection with the writ petition under Art. 226 of the Constitution for quashing proceedings under s. 147 of the IT Act, 1961, and obtaining advice from tax experts in regard thereto fell within the purview of s. 80VV of the IT Act, 1961 ?

High Court Of Delhi CIT vs. Capt. K.C. Saigal Sections 80VV Asst. Year 1976-77, 1977-78 D.K. Jain & Ms. Sharda

Uncategorized

Madras H.C : ‘interest’ means interest payable in any manner in respect of any moneys borrowed or debt incurred (including a deposit, claim or other similar right or obligation) and includes any service fee or other charge in respect of the moneys borrowed or debt incurred or in respect of any credit facility which has not been utilised.

High Court Of Madras Viswapriya Financial Services & Securities Ltd. vs. CIT Section 2(28A), 194A, 201(1), 201(1A) Asst. Year 1993-94,

Sec. 80P(2)(a)(i), Section 80P

Allahabad H.C : Whether, on the facts and in the circumstances of the case and on a proper interpretation of the objects of the society and the provisions of s. 80P of the IT Act, 1961 the Tribunal was justified in holding that the interest earned by the assessee co-operative society from its members was covered by the provisions of s. 80P(2)(a)(i) of the IT Act, 1961, and, therefore, exempt from tax ?

High Court Of Allahabad CIT vs. Krishak Sahkari Ganna Samiti Ltd. Section 80P(2)(a)(i) Asst. Year 1975-76, 1976-77 Binod Kumar Roy

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