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“Section 112(1)(ii)”

Section References (mined)Section 112Section 112(1)(ii)1 judgments

The decision most relied on for Section 112(1)(ii) is Principal Commissioner of Income-tax-2 v. Caraf Builders & Constructions (P.) Ltd. (112 Taxmann.com 322), cited in 71 judgments on BharatTax.

Leading authorities on Section 112(1)(ii)

Principal Commissioner of Income-tax-2 v. Caraf Builders & Constructions (P.) Ltd.
112 Taxmann.com 322 · 2019 · Supreme Court
71
citing judgments

Disallowance under Section 14A of the Income-tax Act, 1961 cannot exceed the actual amount of exempt income earned by the assessee during the relevant previous year. This principle applies to assessment years prior to the amendment by Finance Bill 2022.

Judgments citing Section 112(1)(ii)

Firestone Industrial Products Inc, United States vs. ACIT, Circle 1(3)(1), New Delhi

The appeal is allowed and the impugned addition is deleted

ITA 1066/DEL/2023[2018-19]Status: DisposedITAT Delhi05 Jun 2024AY 2018-19

Bench: the Ld. CIT(A), assessee had taken a plea that the company is a separate entity from its share holders/members and, with transfer of shares, assets of the company are not transferred, and the same continues to be held by the company. It was also explained that since the assessee did not have PAN at the time of sale of shares, buyer M/s Sundaram Industries Pvt. Ltd. deducted @20% plus surcharge and cess on such Long Term Capital Gain earned by the assessee, which is reflected in From 26AS an

For Appellant: Shri Ved Jain, Adv. & Ms. SupriyaFor Respondent: Shri Vizay B. Vasanta, CIT-DR
Section 112(1)Section 112(1)(c)Section 112(1)(ii)

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : D : NEW DELHI BEFORE SHRI G.S. PANNU, HON’BLE VICE PRESIDENT AND