← All Phrases

“Section 36(1)(xviii)”

Section References (mined)Section 36Section 36(1)(xviii)4 judgments

ACIT, CIRCLE - 3 3 1, MUMBAI vs. JAMNAGAR UTILITIES AND POWER PVT LTD, MUMBAI

In the result, both the appeals of the Revenue are allowed\npartly

ITA 5312/MUM/2024[2019-20]Status: DisposedITAT Mumbai04 Dec 2025AY 2019-20
Section 115JSection 135Section 139(1)Section 143(3)Section 144BSection 43ASection 80G

relating to accounting policies.\n11.4 However, the Assessing Officer was not convinced with the\nabove treatment by the assessee. He relied on section 36(1)(xviii)\nas per which marked to market loss as computed in the manner\nprovided in ICDS notified u/s 145(2) of the Act is allowable ... time\nof settlement. It means only realized losses will be allowed as\ndeduction as per ICDS.\n(iii) As per Income Tax Act Section 36 (1) (xviii) : HE TAX DEPAR\nMarked to market loss or other expected loss as computed in\naccordance with the income computation and disclosure standards\nnotified

ACIT, CIRCLE - 3 3 1, MUMBAI vs. JAMNAGAR UTILITIES AND POWER PVT LTD, MUMBAI

In the result, both the appeals of the Revenue are allowed\npartly

ITA 5310/MUM/2024[2020-21]Status: DisposedITAT Mumbai04 Dec 2025AY 2020-21
Section 115JSection 135Section 139(1)Section 143(3)Section 144BSection 43ASection 80G

relating to accounting policies.\n11.4 However, the Assessing Officer was not convinced with the\nabove treatment by the assessee. He relied on Section 36(1)(xviii)\nas per which marked to market loss as computed in the manner\nprovided in ICDS notified u/s 145(2) of the Act is allowable ... time\nof settlement. It means only realized losses will be allowed as\ndeduction as per ICDS.\n(iii) As per Income Tax Act Section 36 (1) (xviii) : HE TAX DEPAR\nMarked to market loss or other expected loss as computed in\naccordance with the income computation and disclosure standards\nnotified

ACIT., CIRCLE-2(1), HYDERABAD vs. HSBC ELECTRONIC DATA PROCESSING CENTRE PRIVATE LIMITED, HYDERABAD

The appeal of the Revenue is dismissed

ITA 347/HYD/2023[2017-18]Status: DisposedITAT Hyderabad29 Nov 2024AY 2017-18

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri Rajan Vora, C.A. &For Respondent: : Shri Kumar Pranav, CIT-DR
Section 115Section 115JSection 143(3)Section 43A

loss has been changed under the Act w.e.f. A.Y. 2017-18. To demonstrate the changes, the Ld. AR drew our attention to the section 36(1)(xviii), section 43AA and ICDS-VI of the Act. He further submitted that w.e.f. A.Y. 2017-18 the FC gain/loss as per the amended ... unrealised FC gain of Rs.98,30,58,750/- has been included in the book profit. We have gone through the provisions contained in section 36(1)(xviii), section 43AA and ICDS-VI of the Act and found that, the amendment has been brought under the Act qua treatment

HSBC ELECTRONIC DATA PROCESSING INDIA PRIVATE LIMITED,HYDERABAD vs. ACIT, CIRCLE-2(2), HYDERABAD

The appeal of the Revenue is dismissed

ITA 293/HYD/2023[2017-18]Status: DisposedITAT Hyderabad29 Nov 2024AY 2017-18

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri Rajan Vora, C.A. &For Respondent: : Shri Kumar Pranav, CIT-DR
Section 115Section 115JSection 143(3)Section 43A

loss has been changed under the Act w.e.f. A.Y. 2017-18. To demonstrate the changes, the Ld. AR drew our attention to the section 36(1)(xviii), section 43AA and ICDS-VI of the Act. He further submitted that w.e.f. A.Y. 2017-18 the FC gain/loss as per the amended ... unrealised FC gain of Rs.98,30,58,750/- has been included in the book profit. We have gone through the provisions contained in section 36(1)(xviii), section 43AA and ICDS-VI of the Act and found that, the amendment has been brought under the Act qua treatment