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7 results for “capital gains”+ Section 43Bclear

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Key Topics

Section 43B8Section 143(1)6Section 366Addition to Income6Section 2505Section 143(3)5Disallowance5Section 14A4Limitation/Time-bar3Condonation of Delay

ATC LOGISTICAL SOLUTIONS PRIVATE LIMITED ,DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, AMRITSAR

In the result, appeal of the assessee ITA No

ITA 241/ASR/2023[2017-18]Status: DisposedITAT Amritsar31 Oct 2023AY 2017-18

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 115JSection 139Section 143(1)Section 143(3)Section 154Section 250Section 36(1)(va)Section 37(1)Section 40ASection 40A(7)

capital expenditure33 or personal expenses of the assessee), laid out or expended wholly and exclusively33 for the purposes of the business33 or profession shall be allowed in computing the income chargeable under the head "Profits and gains of business or profession". 34[35[Explanation 1.]—For the removal of doubts, it is hereby declared that any expenditure incurred

3
Deduction3
Section 1542

SH. VIJAY KUMAR AGGARWAL, PROP.,JALANDHAR vs. INCOME TAX OFFICER, JALANDHAR

In the result, the appeals of the assessee are dismissed

ITA 38/ASR/2017[2013-14]Status: DisposedITAT Amritsar18 Mar 2019AY 2013-14

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 38/Asr./2017 : Asstt. Year : 2013-14 Ita No. 77/Asr./2017 : Asstt. Year : 2012-13

For Appellant: Sh. J. S. Bhasin, AdvFor Respondent: Ms. Shivani Bansal, DR
Section 43B

section 43B, are not absolute but qualify 'any sum payable' as interest on any loan or borrowing from any public financial institution or State Financial Corpn. or State Industrial Investment Corpn., in accordance with the terms and conditions of the agreement governing such loan or borrowing. The Bench therefore, held that only the interest payable during the year in accordance

SHRI VIJAY KUMAR AGGARWAL,JALANDHAR vs. INCOME TAX OFICER,WARD II(4), JALANDHAR

In the result, the appeals of the assessee are dismissed

ITA 119/ASR/2018[2014-15]Status: DisposedITAT Amritsar18 Mar 2019AY 2014-15

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 38/Asr./2017 : Asstt. Year : 2013-14 Ita No. 77/Asr./2017 : Asstt. Year : 2012-13

For Appellant: Sh. J. S. Bhasin, AdvFor Respondent: Ms. Shivani Bansal, DR
Section 43B

section 43B, are not absolute but qualify 'any sum payable' as interest on any loan or borrowing from any public financial institution or State Financial Corpn. or State Industrial Investment Corpn., in accordance with the terms and conditions of the agreement governing such loan or borrowing. The Bench therefore, held that only the interest payable during the year in accordance

SH. SURAJ PRAKASH,AMRTITSAR vs. INCOME TAX OFFICER, WARD - 5(5),, AMRITSAR

In the result, the assessee’s appeal is partly allowed

ITA 638/ASR/2017[2014-15]Status: DisposedITAT Amritsar30 Apr 2019AY 2014-15

Bench: Sh. Sanjay Arorai.T.A. No. 638/Asr/2017 Assessment Year: 2014-15

For Appellant: Sh. K. R. Jain (Adv.)For Respondent: Sh. Charan Dass (D.R.)
Section 143(3)Section 2(24)(vi)

capital gains on the entire property, as against one-half share therein, in the hands of the assessee. Needless to add, the assessee shall be allowed credit for the full amount of the tax deducted at source from the consideration paid to him. I decide accordingly. 6. The next issue is with regard to the disallowance

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3, SRINAGAR vs. M/S TRUMBO CEMENT INDUSTRIES PRIVATE LIMITED, SRINAGAR

In the result, the Ground no-1 of the Revenue for ITA No

ITA 124/ASR/2020[2015-16]Status: DisposedITAT Amritsar12 May 2023AY 2015-16

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 14ASection 23(1)(va)Section 250Section 36Section 43BSection 68

43B on account of late deposit of employee contribution to provident fund. 3. The ld. CIT(A) has erred in restricting the addition of Rs.24,11,992/- to 9,64,797/- @ 8% made on account of disallowance of expenses amount of Rs.1,20,59,960/- @ 20%.” 4. Brief fact of the case is that the assessment was completed with addition

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3, SRINAGAR vs. M/S TRUMBO CEMENT INDUSTRIES PRIVATE LIMITED , SRINAGAR

In the result, the Ground no-1 of the Revenue for ITA No

ITA 123/ASR/2020[2012-13]Status: DisposedITAT Amritsar12 May 2023AY 2012-13

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 143(3)Section 14ASection 23(1)(va)Section 250Section 36Section 43BSection 68

43B on account of late deposit of employee contribution to provident fund. 3. The ld. CIT(A) has erred in restricting the addition of Rs.24,11,992/- to 9,64,797/- @ 8% made on account of disallowance of expenses amount of Rs.1,20,59,960/- @ 20%.” 4. Brief fact of the case is that the assessment was completed with addition

ISHAR INFRASTRUCTURE DEVELPOPERS PRIVATE LIMITED,BATHINDA vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, BATHINDA

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 686/ASR/2024[2022-23]Status: DisposedITAT Amritsar28 Aug 2025AY 2022-23

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta(Hybrid Hearing) I.T.A. No. 686/Asr/2024 Assessment Year: 2022-23

Section 139(1)Section 143(1)Section 250Section 32(2)Section 72Section 72(3)

Capital IQ (India) (P.) Ltd. vs. ACIT, 158 taxmann.com 12 (Hyd. Trib). Nehru Memorial Education Society vs. ITO (Exemp.) 161 taxmann.com 312 (Cochin Trib.). 7. Regarding the claim of unabsorbed depreciation brought forward amounting to Rs.1,50,49,432/- the Ld AR submitted that the first appellate authority has denied the set off observing that no adjustment was made