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3 results for “disallowance”+ Section 72Aclear

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Key Topics

Section 72A4Set Off of Losses3Section 260A2Section 72A(2)(a)2Section 2602Depreciation2

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)

disallowed the business loss and unabsorbed depreciation amounting to Rs.3,48,87,613/- as the same was the business loss from the business of power generation which was brought forward and claimed for set off. Challenging the order of the Assessing Officer, the assessee-amalgamated company filed an appeal, which was allowed by the Commissioner of Income Tax (Appeals). Aggrieved

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)

disallowed the claim of set off of loss of M/s Tulip Apparel Private Limited under Section 72(A) of the Act. The assessee filed an appeal before the Commissioner of Income Tax (Appeals), who by an order dated 21.12.2010 inter alia held that effective date of amalgamation is 31.03.2008 and the addition made by the Assessing Officer was deleted

THE COMMISSIONER OF INCOME TAX vs. M/S KBD SUGARS & DISTILLERIES LTD

ITA/169/2014HC Karnataka30 Jun 2022

Bench: P.S.DINESH KUMAR,ANANT RAMANATH HEGDE

Section 2Section 260Section 724Section 72A

Section 72A (4) of the Income Tax Act2 1961; because the rectified spirit undertaking belonging to M/s Maruthi Organics Ltd. (‘MOL’ for short) was dysfunctional since 1999 and it was not a going concern. 4. The CIT (Appeals)3 vide order dated 04.11.2011 has dismissed assessee's appeal. Further, the ITAT4 vide order dated 22.11.2013 has 2 'Income