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2 results for “capital gains”+ Section 144C(2)(b)clear

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Key Topics

Section 92C2Section 143(3)2Deduction2Disallowance2

M/S. APPOLLO TYRES LTD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

ITA/249/2015HC Kerala26 Aug 2021

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE VIJU ABRAHAM

Section 40

2. M/s. Apollo Tyres Ltd Kochi/Assessee is the appellant. The Assistant Commissioner of Income Tax, Circle-1, Ernakulam/Revenue is the respondent. 3. The assessee assails the order dated 21.11.2014 of the Income Tax Appellate Tribunal (for short ‘Tribunal) Cochin Bench in IT(TP)A No.02/Coch/2014. The issues canvassed in the appeal relate to the return filed by the assessee

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. M/S. APOLLO TYRES LTD

Appeal is allowed in part as indicated

ITA/44/2017HC Kerala22 Sept 2021

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE VIJU ABRAHAM

For Appellant: M/S. APOLLO TYRES LTD
For Respondent: THE PRINCIPAL COMMISSIONER OF INCOME TAX
Section 143(3)Section 144CSection 144C(5)Section 35Section 43ASection 92C

b) whether the Tribunal had erred in granting deduction under Section 35D regarding short-term loan, in view of the Explanation to Section 35D(3) which refers only to long-term borrowings, and (c) whether the Tribunal had erred in directing deduction under Section 80HH and 80-I on the miscellaneous income of Rs.26,64,113 being income on sale