Calcutta High Court

Income Tax Case Laws, Section 45, Section 47, Section 49, Section 55

Calcutta H.C : if the mortgage had been created by the previous owner and the assessee after inheriting the same had discharged the mortgage debt, the amount paid by the assessee for the purpose of clearing off the mortgage could be claimed as a part of cost of acquisition under Section 48 and Section 49 read with Section 55(2)

High Court Of Calcutta CIT vs. Aditya Kumar Jajodia Section 55(1)(b)(2)(ii), 45, 47, 49 Sanjib Banerjee & Abhijit Gangopadhyay, JJ.

Sec. 36(1)(Viia)

Calcutta H.C : Tribunal has erred in law in allowing deduction under section 36(1) (viia) of the I.T.Act, 1961, for the same advances made for all previous years leading to multiple deductions in every assessment year by misinterpreting the Rule 6ABA of the I.T. Rules, 1962 and also against the ratio of judgmen in the case of J.K Synthetics Ltd. vs. UOI 199 ITR 43 (SC)

High Court Of Calcutta Pr.CIT vs. Uttarabanga Kshetriya Gramin Bank Section 36(1)(viia) Asst. Year 2008-09 and 2009-10 Aniruddha Bose &

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