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117 results for “depreciation”+ Carry Forward of Lossesclear

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Key Topics

Section 260125 Depreciation77 Section 260A76 Section 3252 Charitable Trust50 Exemption48 Section 1144 Carry Forward of Losses44 Deduction44 Set Off of Losses

THE COMMISSIONER OF INCOME TAX vs. M/S MAKINO ASIA PVT LTD

ITA/340/2007HC Karnataka25 Sept 2013

Bench: B.MANOHAR,DILIP B.BHOSALE

Section 143(1)Section 143(2)Section 143(3)Section 148Section 260Section 271(1)(c)Section 72

carry forward the business loss for subsequent years. 8 Depreciation loss of Rs.607326/- is allowed to be carried forward”. 10. Thus

M/S NANDI STEELS LIMITED vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

In the result, the findings

Showing 1–20 of 117 · Page 1 of 6

36

ITA/103/2012HC Karnataka23 Feb 2021

Bench: ALOK ARADHE,R. NATARAJ

Section 143(1)Section 143(3)Section 147Section 148Section 260Section 260ASection 6

forward business loss under Section 72 of the Act, the same can be claimed only against business income assessable under the head business or profession. While referring to the decision of Supreme Court in case of CHUGANDAS AND CO. supra, it is contended that the aforesaid authority is not a proposition to the effect that the profits from capital gains

M/S J K INDUSTRIES LTD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

In the result, the appeal is dismissed

ITA/1105/2006HC Karnataka19 Feb 2013

Bench: D.V.SHYLENDRA KUMAR,B.SREENIVASE GOWDA

Section 260Section 80ASection 80H

losses of the earlier years permitted to be carried forward and unabsorbed depreciation allowance of 18 earlier years brought forward

M/S. KARNATAKA INSTRADE CORPORATION LIMITED vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

The appeal is allowed in part

ITA/339/2009HC Karnataka09 Oct 2015

Bench: B.MANOHAR,VINEET SARAN

Section 144Section 145Section 260

carry forward loss and depreciation and allow the same. But, the Tribunal denied the carry forward loss and depreciation to be set-off against

THE STATE OF KARNATAKA THROUGH THE SECRETARY vs. M/S KARDICOPPAL ESTATE THITHIMATHI

Appeals are allowed to the aforesaid extent

WA/3319/2004HC Karnataka22 Jun 2016

Bench: JAYANT PATEL,B.SREENIVASE GOWDA

Section 15Section 4

depreciation allowance is also to be carried forward under proviso (2) to clause (e) of section 5, effect shall first be given to the provisions of this Section.” The said section is amended in terms of the amendment Act 1999 with retrospective effect. The said section reads as under; “Sec.15. Carrying forward of loss

M/S J K INDUSTRIES LTD vs. THE JOINT COMMISSIONER OF INCOME TAX

In the result, all questions are answered against the

ITA/1360/2006HC Karnataka26 Feb 2013

Bench: D.V.SHYLENDRA KUMAR,B.SREENIVASE GOWDA

Section 260ASection 28Section 80H

carried forward losses and unabsorbed depreciation of the earlier years and by setting off these amounts, if any, before arriving

THE COMMISSIONER OF INCOME TAX vs. M/S NOVELL SOFTWARE DEVELOPMENT (I) PVT LTD

In the result, this appeal is allowed in part and

ITA/251/2007HC Karnataka10 Jun 2013

Bench: D.V.SHYLENDRA KUMAR,B.S.INDRAKALA

Section 260Section 260ASection 80ASection 80H

depreciation of the earlier years and carried forward losses of the earlier years and also in the computation of the profits

THE COMMISSIONER OF INCOME TAX vs. M/S AMCO POWER SYSTEMS LTD.,

ITA/765/2009HC Karnataka07 Oct 2015

Bench: B.MANOHAR,VINEET SARAN

carry forward and set-off of business losses. In the present case, though there may have been change in the shareholding in the assessment year 2002-03, yet, there was no change of control of the Company, as the control remained with the ABL as the voting power of ABL, along with its subsidiary Company APIL, remained

THE COMMISSIONER OF INCOME TAX vs. M/S AMCO POWER SYSTEMS LTD

ITA/1046/2008HC Karnataka07 Oct 2015

Bench: B.MANOHAR,VINEET SARAN

carry forward and set-off of business losses. In the present case, though there may have been change in the shareholding in the assessment year 2002-03, yet, there was no change of control of the Company, as the control remained with the ABL as the voting power of ABL, along with its subsidiary Company APIL, remained

THE COMMISSIONER OF INCOME TAX vs. M/S AMCO POWER SYSTEMS LTD.,

ITA/767/2009HC Karnataka07 Oct 2015

Bench: B.MANOHAR,VINEET SARAN

carry forward and set-off of business losses. In the present case, though there may have been change in the shareholding in the assessment year 2002-03, yet, there was no change of control of the Company, as the control remained with the ABL as the voting power of ABL, along with its subsidiary Company APIL, remained

THE COMMISSIONER OF INCOME TAX vs. M/S AMCO POWER SYSTEMS LTD.,

ITA/769/2009HC Karnataka07 Oct 2015

Bench: B.MANOHAR,VINEET SARAN

carry forward and set-off of business losses. In the present case, though there may have been change in the shareholding in the assessment year 2002-03, yet, there was no change of control of the Company, as the control remained with the ABL as the voting power of ABL, along with its subsidiary Company APIL, remained

THE COMMISSIONER OF INCOME TAX vs. M/S K B D SUGARS & DISTILLERIES LTD.,

ITA/773/2009HC Karnataka16 Oct 2015

Bench: S.SUJATHA,VINEET SARAN

Section 260ASection 72ASection 72A(2)(a)

forward of loss and allowance for depreciation shall apply accordingly. 7 (2) Notwithstanding anything contained in sub- section (1), the accumulated loss shall not be set off or carried

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBM INDIA PVT. LTD.,

The appeals are allowed only to the aforesaid

ITA/253/2014HC Karnataka21 Apr 2016

Bench: B.V.NAGARATHNA,JAYANT PATEL

Section 10ASection 234DSection 260

carry forward of loss under Section 10A as well as depreciation and the adjustment against the income of the respective

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBM INDIA PVT. LTD.,

The appeals are allowed only to the aforesaid

ITA/252/2014HC Karnataka21 Apr 2016

Bench: B.V.NAGARATHNA,JAYANT PATEL

Section 10ASection 234DSection 260

carry forward of loss under Section 10A as well as depreciation and the adjustment against the income of the respective

THE COMMISSIONER OF INCOME-TAX vs. M/S. INDUS FILA LTD

In the result, the order passed by the Income Tax

ITA/431/2012HC Karnataka18 Sept 2020

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 260Section 260ASection 72Section 72ASection 72A(2)(b)

forward of loss and allowance for depreciation shall apply accordingly. (2) Notwithstanding anything contained in sub-section (1), the accumulated loss shall not be set off or carried

THE PR COMMISSIONER OF INCOME TAX vs. M/S MPHASIS LTD

The appeal is dismissed accordingly

ITA/62/2018HC Karnataka24 Feb 2021

Bench: SATISH CHANDRA SHARMA,V SRISHANANDA

Section 10BSection 143(3)Section 144Section 260

carrying on business of cotton exporter and done to cover up losses on account of differences in foreign exchange valuations, would not be speculative activity but a business activity.” In light of aforesaid judgment, this Court is of the opinion that the Tribunal was justified in setting aside the disallowance of foreign exchange loss on forward contract. 13 15. Learned

SMT. PUNEETHA @ PUNEETHA B. A. vs. SRI. D. RAVI

The appeal is dismissed accordingly

RPFC/62/2018HC Karnataka28 Feb 2020

Bench: R DEVDAS

Section 10BSection 143(3)Section 144Section 260

carrying on business of cotton exporter and done to cover up losses on account of differences in foreign exchange valuations, would not be speculative activity but a business activity.” In light of aforesaid judgment, this Court is of the opinion that the Tribunal was justified in setting aside the disallowance of foreign exchange loss on forward contract. 13 15. Learned

PR COMMISSIONER OF INCOME TAX (CENTRAL) vs. M/S CHALASSANI EDUCATION TRUST

Appeal is dismissed

ITA/852/2017HC Karnataka21 Aug 2018

Bench: S.SUJATHA,VINEET KOTHARI

Section 260Section 32

carried forward to subsequent assessment years even in the case of excess application by virtue of borrowed/funds/corpus fund donations set apart of earlier years, the income of the assessee cannot be reverted to loss but at best it can be made nil?” 3. This Court in the case of ‘Commissioner of Income Tax-III, Pune v. Rajasthan & Gujarati Charitable Foundation

THE COMMISSIONER OF INCOME TAX vs. ISLAMIC ACADEMY OF EDUCATION

The appeal stands dismissed

ITA/711/2009HC Karnataka21 Aug 2015

Bench: B.MANOHAR,VINEET SARAN

Section 11Section 11(5)Section 12ASection 260Section 43B

carry forward of depreciation loss as held by the Assessing Officer? 2. Whether the Appellate Authorities were correct in holding

THE COMMISSIONER OF INCOME TAX vs. ISLAMIC ACADEMY OF EDUCATION

The appeal stands disposed of

ITA/712/2009HC Karnataka21 Aug 2015

Bench: B.MANOHAR,VINEET SARAN

Section 11Section 11(5)Section 12ASection 260Section 43

carry forward of depreciation loss as held by the Assessing Officer? ii. Whether the Appellate Authorities were correct in holding