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“Section 70(1)”

Section References (mined)Section 70Section 70(1)11 judgments

ASHVIN DINESHBHAI JADAV,RAJKOT vs. ITO, WARD-1(1)(1), RAJKOT, RAJKOT

In the result, the appeal of the assessee is allowed

ITA 428/RJT/2025[2015-16]Status: DisposedITAT Rajkot29 Jan 2026AY 2015-16

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

For Appellant: Shri Mehul Ranpura, ARFor Respondent: Shri Abhimanyu Singh Yadav, Sr. DR
Section 133(6)Section 143(2)Section 143(3)Section 250

account. The AO ought to have allowed set off of business loss incurred in the intra head of account as provided in section 70(1) of the Act. 12. We also find that amendment for not allowing set off of loss against the income determined under section 68/69/69A/698/69C/69D

M/S. ANKUR GRAND OWNERS ASSOCIATION,CHENNAI vs. ITO, NCW-10(1), CHENNAI

In the result, the appeal filed by the assessee is allowed

ITA 480/CHNY/2025[2017-18]Status: DisposedITAT Chennai28 Apr 2025AY 2017-18

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:480/Chny/2025 िनधा"रण वष" / Assessment Year: 2017-18

For Appellant: Mr. B.Ramakrishnan, F.C.AFor Respondent: Ms. Anitha, Addl. CIT
Section 143(1)Section 143(3)Section 57Section 70(1)

commissioner of Income Tax (Appeals) has erred in law and on facts by failing to apply :-2-: ITA. No:480/Chny/2025 the provisions of Section 70(1) of the Income Tax Act, 1961, which explicitly permits the set-off of losses from one source against income from another source under

DIMPLE ALNESH SOMJI,PUNE vs. ACIT, CENTRAL CIRCLE 1(3), PUNE, PUNE

In the result, appeal of the assessee is partly allowed

ITA 973/PUN/2024[2019-20]Status: DisposedITAT Pune09 Dec 2024AY 2019-20

Bench: Shri Rama Kanta Panda & Ms. Astha Chandra

For Appellant: CA Nitin RanderFor Respondent: Shri Ramnath P. Murkunde
Section 132Section 142(1)Section 143(2)

speculative loss, has rightly been set off by the assessee against regular business profits from medical derivatives business. 17. As per section 70 (1) of the 1.T. Act, where the net result for any Assessment Year in respect of any source falling under any head of income, other than ... have the amount of such loss set off against his income from any other source under the same head. 18. So, according to section 70(1) of the I.T. Act, loss from any source under any head of income can be set off against income from any other source under

TITAN COMPANY LIMITED,HOSUR vs. ASSISTANT COMMISSIONER OF INCOME TAX - LTU 2 (IC), CHENNAI

In the result the appeal raised by the assessee is partly allowed

ITA 1742/CHNY/2024[2011- 12]Status: DisposedITAT Chennai04 Dec 2024

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1742/Chny/2024 निर्धारण वर्ा /Assessment Years: 2011-12 Titan Company Limited, Assistant Commissioner Of No.3, Sipcot Industrial Complex, Income Tax, Hosur, Krishnagiri, Ltu-2, Tamil Nadu-635126 Chennai [Pan: Aaact5131A] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) : Shri Abhay Kumar, C.A अपीलार्थी की ओर से/ Assessee By : Ms.Komali Krishna, Cit प्रत्यर्थी की ओर से /Revenue By सुनवाई की तारीख/Date Of Hearing : 10.09.2024 घोषणा की तारीख /Date Of Pronouncement : 04.12.2024

For Appellant: Ms.Komali Krishna, CIT
Section 147Section 250Section 80Section 80C(2)(a)Section 80I

आयकर अपीलीय अधिकरण, ‘बी’ न्यायपीठ, चेन्नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH: CHENNAI श्री यस यस विश्िनेत्र रवि

ACIT-5(1)(1), MUMBAI vs. M/S. ESSAR SHIPPING LTD., MUMBAI

In the result, the appeal of the Revenue is allowed partly for In the result, the appeal of the Revenue is allowed partly for In the result, the appeal of the Revenue is allowed partly for statisti...

ITA 87/MUM/2023[2014-15]Status: DisposedITAT Mumbai31 Jul 2023AY 2014-15

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2014-15 Acit Circle 5(1)(1), M/S Essar Shipping Ltd., R. No. 568, Aayakar Bhavan, Essar House, 11, K K Marg, Vs. M.K. Road, Mumbai-400020. Mahalaxmi, Mumbai-400034. Pan No. Aacce 3707 D Appellant Respondent

For Appellant: Mr. Rishav PatawariFor Respondent: Mr. Mudit Nagpal, CIT-DR
Section 115VSection 36(1)

referred to reduced. In its submission, the Appellant has referred to reduced. In its submission, the Appellant has referred to provision of sub section 70(1) and 71(1) which provides provision of sub section 70(1) and 71(1) which provides provision of sub section 70(1

DCIT- CC-1(2), MUMBAI vs. NIRANJAN L. HIRANANDANI, MUMBAI

In the result, the appeal filed by the revenue is allowed for statistical purposes

ITA 1896/MUM/2021[2015-16]Status: DisposedITAT Mumbai31 Oct 2022AY 2015-16

Bench: Shri Amit Shukla, Jm & Shri Prashant Maharishi, Am आयकरअपीलसं./ I.T.A. No. 1896 & 1895/Mum/2021 (निर्धारणवर्ा / Assessment Year: 2015-16 & 2016-17)

For Appellant: Shri Chetan M. KachaFor Respondent: Shri K. Gopal, Ld. AR
Section 143(3)Section 3Section 57

1895/Mum/2021 Shri Niranjan L. Hiranandani and deducted payment of interest on loan paid on loan to ICICI Bank in accordance with section 70(1), i.e. of set off of loss within one source. However, we find that neither the Ld. CIT(A) nor before the AO there was any such

ANSR GLOBAL CORPORATION PRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), BANGALORE

In the result, the appeal is partly allowed

ITA 225/BANG/2021[2016-17]Status: DisposedITAT Bangalore19 Apr 2022AY 2016-17

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathyit(Tp)A No.225/Bang/2021 Assessment Year : 2016-17 M/S. Ansr Global Corporation Pvt. Ltd., Acit, Vs. Ground Floor, Block L1, Circle – 1(1)(1), Manyata Embassy Business Park, Bengaluru. Sez, Outer Ring Road, Nagwara, Bengaluru-560 045. Pan : Aaecn 7296 E Appellant Respondent

For Appellant: Shri. K. R. Vasudevan, AdvocateFor Respondent: Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru
Section 143(3)Section 144C(13)Section 92Section 92(1)Section 92B(1)

would not be attracted and therefore intra head set off sought by seeking to rely on the provision of section 70(1) of the Act and seeking to restrict the deduction u/s 10A and 10AA of the Act to the extent of gross total income as contemplated

XCHANGING SOLUTIONS LIMITED,BANGALORE vs. ITO, BANGALORE

In the result, the appeals of the assessee are partly allowed and that of the revenue are dismissed

ITA 556/BANG/2016[2011-12]Status: DisposedITAT Bangalore19 Jan 2022AY 2011-12

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Vikram Raghavan, AdvocateFor Respondent: Shri Arunkumar, CIT(DR)(TP)(ITAT), Bengaluru
Section 10ASection 10A(4)Section 143(3)Section 155

losses from one source against s .e income from other sources under the same head of income in terms of section 70(1) 5) The DRP also erred in placing reliance on the order of the Hon'ble High Court of Karnataka in the case of Yokogawa India Ltd which

ITO, BANGALORE vs. M/S XCHANGING SOLUTIONS LTD.,, BANGALORE

In the result, the appeals of the assessee are partly allowed and that of the revenue are dismissed

ITA 402/BANG/2016[2011-12]Status: DisposedITAT Bangalore19 Jan 2022AY 2011-12

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Vikram Raghavan, AdvocateFor Respondent: Shri Arunkumar, CIT(DR)(TP)(ITAT), Bengaluru
Section 10ASection 10A(4)Section 143(3)Section 155

losses from one source against s .e income from other sources under the same head of income in terms of section 70(1) 5) The DRP also erred in placing reliance on the order of the Hon'ble High Court of Karnataka in the case of Yokogawa India Ltd which

XCHANGING SOLUTIONS LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, the appeals of the assessee are partly allowed and that of the revenue are dismissed

ITA 492/BANG/2015[2010-11]Status: DisposedITAT Bangalore19 Jan 2022AY 2010-11

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Vikram Raghavan, AdvocateFor Respondent: Shri Arunkumar, CIT(DR)(TP)(ITAT), Bengaluru
Section 10ASection 10A(4)Section 143(3)Section 155

losses from one source against s .e income from other sources under the same head of income in terms of section 70(1) 5) The DRP also erred in placing reliance on the order of the Hon'ble High Court of Karnataka in the case of Yokogawa India Ltd which

DCIT, BANGALORE vs. M/S XCHANGING SOLUTIONS LTD.,, BANGALORE

In the result, the appeals of the assessee are partly allowed and that of the revenue are dismissed

ITA 459/BANG/2015[2010-11]Status: DisposedITAT Bangalore19 Jan 2022AY 2010-11

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Vikram Raghavan, AdvocateFor Respondent: Shri Arunkumar, CIT(DR)(TP)(ITAT), Bengaluru
Section 10ASection 10A(4)Section 143(3)Section 155

losses from one source against s .e income from other sources under the same head of income in terms of section 70(1) 5) The DRP also erred in placing reliance on the order of the Hon'ble High Court of Karnataka in the case of Yokogawa India Ltd which