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1,970 results for “depreciation”+ Business Incomeclear

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Key Topics

Disallowance70Section 143(3)68Addition to Income58Section 14A52Depreciation46Deduction45Section 4020Section 1116Section 143(2)15Section 10

ACIT, CC- 6(2),, CHENNAI vs. S.N. DAMANI INFRA PVT. LTD.,, CHENNAI

In the result, appeal filed by the Revenue is dismissed

ITA 3324/CHNY/2019[2014-15]Status: DisposedITAT Chennai30 Nov 2021AY 2014-15

Bench: Shri Mahavir Singh & Shri G. Manjunathaआयकर अपील सं./Ita No.: 3324/Chny/2019 िनधा"रण वष" / Assessment Year: 2014-15 Assistant Commissioner Of Income S.N. Damani Infra Pvt. Ltd., Tax, V. No. 6, Ground Floor, Corporate Circle 6 (2), Rayala Tower, Chennai. 781-785, Anna Salai, Chennai – 600 002. [Pan: Aaocs 0334C] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Ar V Sreenivasan, Addl. Cit ""यथ" क" ओर से/Respondent By : Shri. D. Anand, Advocate सुनवाई क" तार"ख/Date Of Hearing : 09.11.2021 घोषणा क" तार"ख/Date Of Pronouncement : 30.11.2021 आदेश /O R D E R

For Appellant: Shri. AR V Sreenivasan, Addl. CITFor Respondent: Shri. D. Anand, Advocate
Section 24

Depreciation though not claimed by the assessee is allowed. The income is computed as follows: Business income: Profit before Tax : 11,66,72,573 Add: Depreciation

MOSBACHER INDIA LLC,CHENNAI vs. ADDL. DIT, CHENNAI

Showing 1–20 of 1,970 · Page 1 of 99

...
14
Section 36(1)(va)13
Exemption13

In the result, the appeal is partly allowed in the terms indicated above

ITA 1085/CHNY/2015[2010-11]Status: DisposedITAT Chennai29 Nov 2016AY 2010-11
Section 143(3)Section 42(2)Section 42(2)(b)

Income”. The relevant extracts from Section 42 are as follows: Special provision for deductions in the case of business for prospecting, etc., for mineral oil. 42. [(1)] For the purpose of computing the profits or gains of any business consisting of the prospecting for or extraction or production of mineral oils in relation to which the Central Government has entered

THE MUSIC ACADEMY MADRAS,CHENNAI vs. DDIT, CHENNAI

Accordingly, the same is dismissed

ITA 1098/CHNY/2015[2010-11]Status: DisposedITAT Chennai22 Apr 2016AY 2010-11

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1098/Mds/2015 "नधा"रण वष" / Assessment Year : 2010-11 The Music Academy Madras, The Deputy Director Of Income Tax No.168 (Old No.306), Ttk Road, V. (Exemptions), Royapettah, Chennai - 600 014. Chennai - 600 034 . Pan : Aaatt 0256 B (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Sh. R. Vijayaraghavan, AdvocateFor Respondent: Sh. P. Radhakrishnan, JCIT
Section 11Section 12ASection 32

business and charitable institution are two different categories in the scheme of Income-tax Act. This Tribunal is of the considered 14 I.T.A. No.1098/Mds/15 opinion that the customary way of computing income or the commercial principle of computing income cannot override the specific provision of Income-tax Act. The Income-tax Act does not provide for allowing depreciation

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1061/CHNY/2016[2010-11]Status: DisposedITAT Chennai21 Jan 2022AY 2010-11

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

depreciation amount is larger than the amount of the profits of that business, then such excess comes for absorption from the profits and gains from any other business or business, if any, carried on by the assessee. If a balance is left even thereafter, that becomes deductible from out of income

ACIT, MADURAI vs. J.K.FENNER (INDIA) LIMITED, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 967/CHNY/2017[2013-14]Status: DisposedITAT Chennai21 Jan 2022AY 2013-14

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

depreciation amount is larger than the amount of the profits of that business, then such excess comes for absorption from the profits and gains from any other business or business, if any, carried on by the assessee. If a balance is left even thereafter, that becomes deductible from out of income

J.K.FENNER (INDIA) LIMITED,MADURAI vs. ACIT CORPORATE CIRCLE 1, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1846/CHNY/2017[2014-15]Status: DisposedITAT Chennai21 Jan 2022AY 2014-15

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

depreciation amount is larger than the amount of the profits of that business, then such excess comes for absorption from the profits and gains from any other business or business, if any, carried on by the assessee. If a balance is left even thereafter, that becomes deductible from out of income

ACIT CORPORATE CIRCLE 1, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1883/CHNY/2017[2014-15]Status: DisposedITAT Chennai21 Jan 2022AY 2014-15

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

depreciation amount is larger than the amount of the profits of that business, then such excess comes for absorption from the profits and gains from any other business or business, if any, carried on by the assessee. If a balance is left even thereafter, that becomes deductible from out of income

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. ACIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 947/CHNY/2017[2013-14]Status: DisposedITAT Chennai21 Jan 2022AY 2013-14

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

depreciation amount is larger than the amount of the profits of that business, then such excess comes for absorption from the profits and gains from any other business or business, if any, carried on by the assessee. If a balance is left even thereafter, that becomes deductible from out of income

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1060/CHNY/2016[2009-10]Status: DisposedITAT Chennai21 Jan 2022AY 2009-10

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

depreciation amount is larger than the amount of the profits of that business, then such excess comes for absorption from the profits and gains from any other business or business, if any, carried on by the assessee. If a balance is left even thereafter, that becomes deductible from out of income

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1059/CHNY/2016[2008-09]Status: DisposedITAT Chennai21 Jan 2022AY 2008-09

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

depreciation amount is larger than the amount of the profits of that business, then such excess comes for absorption from the profits and gains from any other business or business, if any, carried on by the assessee. If a balance is left even thereafter, that becomes deductible from out of income

ACIT, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1272/CHNY/2016[2012-13]Status: DisposedITAT Chennai21 Jan 2022AY 2012-13

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

depreciation amount is larger than the amount of the profits of that business, then such excess comes for absorption from the profits and gains from any other business or business, if any, carried on by the assessee. If a balance is left even thereafter, that becomes deductible from out of income

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1062/CHNY/2016[2011-12]Status: DisposedITAT Chennai21 Jan 2022AY 2011-12

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

depreciation amount is larger than the amount of the profits of that business, then such excess comes for absorption from the profits and gains from any other business or business, if any, carried on by the assessee. If a balance is left even thereafter, that becomes deductible from out of income

J.K.FENNER (INDIA) LIMITED,CHENNAI vs. JCIT, MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1063/CHNY/2016[2012-13]Status: DisposedITAT Chennai21 Jan 2022AY 2012-13

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

depreciation amount is larger than the amount of the profits of that business, then such excess comes for absorption from the profits and gains from any other business or business, if any, carried on by the assessee. If a balance is left even thereafter, that becomes deductible from out of income

ACIT, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1077/CHNY/2016[2009-10]Status: DisposedITAT Chennai21 Jan 2022AY 2009-10

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

depreciation amount is larger than the amount of the profits of that business, then such excess comes for absorption from the profits and gains from any other business or business, if any, carried on by the assessee. If a balance is left even thereafter, that becomes deductible from out of income

ACIT, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1076/CHNY/2016[2008-09]Status: DisposedITAT Chennai21 Jan 2022AY 2008-09

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

depreciation amount is larger than the amount of the profits of that business, then such excess comes for absorption from the profits and gains from any other business or business, if any, carried on by the assessee. If a balance is left even thereafter, that becomes deductible from out of income

ACIT, MADURAI vs. J.K.FENNER (INDIA) LTD., MADURAI

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1078/CHNY/2016[2010-11]Status: DisposedITAT Chennai21 Jan 2022AY 2010-11

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

depreciation amount is larger than the amount of the profits of that business, then such excess comes for absorption from the profits and gains from any other business or business, if any, carried on by the assessee. If a balance is left even thereafter, that becomes deductible from out of income

INTERNATIONAL AGRICULTURAL PROCESSING (P) LTD.,CHENNAI vs. ACIT, MADURAI

In the result, the appeals filed by the assessee for the AYs 2003-04

ITA 1407/CHNY/2016[2008-2009]Status: DisposedITAT Chennai25 May 2022AY 2008-2009

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita Nos.1251 To 1254, 1407 & 1408/Chny/2016 िनधा"रण वष" /Assessment Years: 2003-04 To 2006-07, 2008-09 & 2007-08 M/S.International Agricultural- V. The Asst. Commissioner- Processing (P) Ltd., Of Income Tax, 332/5-A, Peranai Road, Company Circle-Ii, Musuvanathu Village, Madurai. Nilakottai Taluk, Dindigul-624 219. [Pan: Aaaci 3593 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.T. Banusekar, CAFor Respondent: Mr.P.Sajit Kumar, JCIT
Section 10BSection 133ASection 143(2)Section 143(3)Section 147Section 148

depreciation or business loss against income from other sources. The AO had denied set off of brought forward unabsorbed depreciation

INTERNATIONAL AGRICULTURAL PROCESSING (P) LTD.,CHENNAI vs. ACIT, MADURAI

In the result, the appeals filed by the assessee for the AYs 2003-04

ITA 1252/CHNY/2016[2004-2005]Status: DisposedITAT Chennai25 May 2022AY 2004-2005

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita Nos.1251 To 1254, 1407 & 1408/Chny/2016 िनधा"रण वष" /Assessment Years: 2003-04 To 2006-07, 2008-09 & 2007-08 M/S.International Agricultural- V. The Asst. Commissioner- Processing (P) Ltd., Of Income Tax, 332/5-A, Peranai Road, Company Circle-Ii, Musuvanathu Village, Madurai. Nilakottai Taluk, Dindigul-624 219. [Pan: Aaaci 3593 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.T. Banusekar, CAFor Respondent: Mr.P.Sajit Kumar, JCIT
Section 10BSection 133ASection 143(2)Section 143(3)Section 147Section 148

depreciation or business loss against income from other sources. The AO had denied set off of brought forward unabsorbed depreciation

INTERNATIONAL AGRICULTURAL PROCESSING (P) LTD.,CHENNAI vs. ACIT, MADURAI

In the result, the appeals filed by the assessee for the AYs 2003-04

ITA 1251/CHNY/2016[2003-2004]Status: DisposedITAT Chennai25 May 2022AY 2003-2004

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita Nos.1251 To 1254, 1407 & 1408/Chny/2016 िनधा"रण वष" /Assessment Years: 2003-04 To 2006-07, 2008-09 & 2007-08 M/S.International Agricultural- V. The Asst. Commissioner- Processing (P) Ltd., Of Income Tax, 332/5-A, Peranai Road, Company Circle-Ii, Musuvanathu Village, Madurai. Nilakottai Taluk, Dindigul-624 219. [Pan: Aaaci 3593 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.T. Banusekar, CAFor Respondent: Mr.P.Sajit Kumar, JCIT
Section 10BSection 133ASection 143(2)Section 143(3)Section 147Section 148

depreciation or business loss against income from other sources. The AO had denied set off of brought forward unabsorbed depreciation

INTERNATIONAL AGRICULTURAL PROCESSING (P) LTD.,CHENNAI vs. ACIT, MADURAI

In the result, the appeals filed by the assessee for the AYs 2003-04

ITA 1253/CHNY/2016[2005-2006]Status: DisposedITAT Chennai25 May 2022AY 2005-2006

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita Nos.1251 To 1254, 1407 & 1408/Chny/2016 िनधा"रण वष" /Assessment Years: 2003-04 To 2006-07, 2008-09 & 2007-08 M/S.International Agricultural- V. The Asst. Commissioner- Processing (P) Ltd., Of Income Tax, 332/5-A, Peranai Road, Company Circle-Ii, Musuvanathu Village, Madurai. Nilakottai Taluk, Dindigul-624 219. [Pan: Aaaci 3593 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.T. Banusekar, CAFor Respondent: Mr.P.Sajit Kumar, JCIT
Section 10BSection 133ASection 143(2)Section 143(3)Section 147Section 148

depreciation or business loss against income from other sources. The AO had denied set off of brought forward unabsorbed depreciation