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11 results for “depreciation”+ Section 274clear

Sorted by relevance

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Key Topics

Section 26030Section 10B18Section 10A10Section 260A7Deduction6Depreciation6Section 2743Section 201(1)3Disallowance3Section 271(1)(c)

THE COMMISSIONER OF INCOME TAX GULBARGA vs. M/S MANJUNATHA COTTON AND GINNING FACTORY

The appeals are dismissed

ITA/2564/2005HC Karnataka13 Dec 2012

Bench: ARAVIND KUMAR,N.KUMAR

Section 260Section 260A

274. Procedure. (1) No order imposing a penalty under this Chapter shall be made unless the assessee has been heard, or has been given a reasonable opportunity of being heard. (2) No order imposing a penalty under this Chapter shall be made- 40 (a) by the Income- tax Officer, where the penalty exceeds ten thousand rupees; (b) by the Assistant

PR COMMISSIONER OF vs. M/S WIPRO LIMITED

In the result, the appeal is disposed of in terms

ITA/464/2017HC Karnataka09 Dec 2020

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

2
Section 1952
Set Off of Losses2
Section 10ASection 260Section 260ASection 32

depreciation relating to software has rightly been allowed in favour of the assessee. It is further submitted that the issue with regard to set off of losses of units claiming deduction under Section 10A/10AA of the Act is squarely covered by decision of the Supreme Court in 19 ‘COMMISSIONER OF INCOME-TAX VS. YOKOGAWA INDIA LTD.’, 391 ITR 274

THE PR.COMMISSIONER OF INCOME TAX vs. M/S.RYATARA SAHAKARI SAKKARE KARKHANE NIYAMITHA

The appeal stands dismissed

ITA/100013/2019HC Karnataka11 Mar 2020

Bench: JYOTI MULIMANI,S.SUJATHA

Section 260ASection 271(1)(c)Section 274Section 292B

depreciation of Rs.1,44,74,986/-. Thus, the Assessing Authority disallowed a sum of Rs.30,86,504/- and Rs.4,86,946/- being payment made to harvesters/transporters and vehicle hire charges and legal fees. The said order having reached finality, the Assessing Authority initiated penalty proceedings in respect of aforesaid two claims and passed an order under Section

THE COMMISSIONER OF INCOME-TAX vs. M/S MIND TREE LTD

In the result, we do not find any merit in this

ITA/251/2013HC Karnataka25 Aug 2020

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 10BSection 260Section 260A

depreciation cannot be set off against the profits for computing deduction under Section 10B of the Act. It was also held that the assessee has incurred expenditure only towards acquiring the right to use the 6 software for a limited period and no property of right of permanent character is being acquired and the same was allowed as revenue expenditure

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

depreciation @ 60% on switches and routers amounting to Rs.98,11,575/- by following the decision of Delhi High Court? 7 2. Whether the Tribunal on the facts and circumstances of the case, the Tribunal is right in law in setting aside the disallowance of foreign exchange loss on forward contracts of Rs.26,31,35,000/- by following the decision

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

depreciation @ 60% on switches and routers amounting to Rs.98,11,575/- by following the decision of Delhi High Court? 7 2. Whether the Tribunal on the facts and circumstances of the case, the Tribunal is right in law in setting aside the disallowance of foreign exchange loss on forward contracts of Rs.26,31,35,000/- by following the decision

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

ITA/403/2009HC Karnataka28 Apr 2016

Bench: B.V.NAGARATHNA,JAYANT PATEL

Section 260

depreciation has to be allowed, which has been rightly done so by the Tribunal. Substantial question of law No.1 is accordingly answered in favour of the assessee. 17. As far as the second question of law is concerned, the same relates to payment of interest of Rs.72.00 lakh on borrowed capital, as an allowable business expenditure. The contention

THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

ITA/402/2009HC Karnataka28 Apr 2016

Bench: B.V.NAGARATHNA,JAYANT PATEL

Section 260

depreciation has to be allowed, which has been rightly done so by the Tribunal. Substantial question of law No.1 is accordingly answered in favour of the assessee. 17. As far as the second question of law is concerned, the same relates to payment of interest of Rs.72.00 lakh on borrowed capital, as an allowable business expenditure. The contention

THE COMMISIONER OF INCOME-TAX vs. M/S IBC KNOWLEDGE PARK PVT LTD

In the result, the appeals filed by the Revenue

ITA/402/2014HC Karnataka28 Apr 2016

Bench: B.V.NAGARATHNA,JAYANT PATEL

Section 260

depreciation has to be allowed, which has been rightly done so by the Tribunal. Substantial question of law No.1 is accordingly answered in favour of the assessee. 17. As far as the second question of law is concerned, the same relates to payment of interest of Rs.72.00 lakh on borrowed capital, as an allowable business expenditure. The contention

PR. COMMISSIONER OF INCOME TAX vs. M/S SASKEN

Appeals are dismissed at the stage of admission

ITA/44/2016HC Karnataka31 Oct 2018

Bench: ABHAY SHREENIWAS OKA (CJ),S.G.PANDIT

Section 10ASection 260

274 (SC) held in favour of the assessee. Insofar as disallowance of deduction under Section 10A in respect of deemed export on account of sale to another STP unit, the Tribunal, relying upon the decision of Tata Elxsi Ltd. (supra), held in favour of the assessee. Aggrieved by the order of the Tribunal, the revenue has I.T.A.Nos.44-45/2016

THE DIRECTOR OF INCOME TAX vs. M/S ABBEY BUSINESS SERVICES INDIA PVT LTD

In the result, we do not find any merit in this

ITA/214/2014HC Karnataka01 Dec 2020

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 195Section 201Section 201(1)Section 260Section 260ASection 40Section 9Section 9(1)(vii)

depreciation but excluded exchange fluctuation loss. In order to facilitate outsourcing agreement between ANP and Msource India Pvt. Ltd. an agreement for secondment of staff was entered into between ANP and the assessee on 04.02.2004. For deputation of its employees, Abbey, India had made certain payments to Abbey UK and ANP part of which was salary reimbursement on which