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1,376 results for “disallowance”+ Section 43(6)clear

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Mumbai5,097Delhi5,051Bangalore1,664Chennai1,626Kolkata1,376Ahmedabad1,164Jaipur738Hyderabad590Pune408Indore404Chandigarh404Surat320Raipur236Amritsar209Cochin205Rajkot173Nagpur161Cuttack144Karnataka143Visakhapatnam118Agra108Jodhpur100Lucknow97Guwahati92Allahabad67SC58Telangana52Calcutta43Ranchi40Patna32Dehradun30Panaji24Varanasi19Jabalpur18Kerala14Himachal Pradesh4Punjab & Haryana4Rajasthan3Orissa3A.K. SIKRI ROHINTON FALI NARIMAN2MADAN B. LOKUR S.A. BOBDE1H.L. DATTU S.A. BOBDE1Gauhati1ASHOK BHAN DALVEER BHANDARI1

Key Topics

Section 143(3)93Section 14A73Disallowance60Addition to Income59Deduction40Section 143(1)35Section 14732Section 25029Section 80I29Section 263

RAMPURIA INDUSTRIES & INVESTMENTS LTD., ,KOLKATA vs. PRINCIPAL CIT, CENTRAL - 1, KOLKATA , KOLKATA

In the result, appeal of the assessee is allowed

ITA 651/KOL/2018[2013-14]Status: DisposedITAT Kolkata26 Feb 2020AY 2013-14
Section 143(3)Section 2Section 263Section 43(5)(d)

43(5) of the Act provided other conditions are speculation transactions u/s 43(5) of the Act provided other conditions are speculation transactions u/s 43(5) of the Act provided other conditions are satisfied because of recent and systemic and techn satisfied because of recent and systemic and technological changes introduced by ological changes introduced by stock exchanges. We have

M/S. EVEREADY INDUSTRIES INDIA LTD.,KOLKATA vs. PR.CIT-4, KOLKATA

In the result, the appeal of the assessee stands allowed

Showing 1–20 of 1,376 · Page 1 of 69

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28
Section 14827
Depreciation19
ITA 805/KOL/2019[2014-15]Status: Disposed
ITAT Kolkata
13 Dec 2019
AY 2014-15

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 143(3)Section 14ASection 263

6)(c) of the Act. 43. Having considered the rival submissions, we find that in the Profit & Loss Account, the assessee never debited sum of Rs.42,93,049/- under the head ‘write-off of fixed assets’ nor separately claimed deduction therefore in the return of income. In the circumstances therefore when there was no claim for deduction of such

I.T.O WD - 2(3),KOLKATA., KOLKATA vs. M/S LAST PEAK DATA PVT LTD., KOLKATA

In the result the appeal of the revenue is dismissed

ITA 154/KOL/2013[2009-10]Status: DisposedITAT Kolkata30 Oct 2015AY 2009-10

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ]

For Appellant: Shri Vasant SubramanyanFor Respondent: Shri Niraj Kumar, CIT(DR)
Section 10ASection 10BSection 115JSection 14

section. 38. The next issue that arises for is with regard to disallowance of a sum of Rs.1,05,060/- which was expenditure incurred to increase the authorized share capital of the Assessee from Rs.49,00,000 to Rs.1,99,00,000/-. The AO held that the expenditure so incurred was capital expenditure as it has been incurred to increase

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. DCIT, CENTAL CIRCLE - 4(4), KOLKATA, KOLKATA

ITA 138/KOL/2018[2012-13]Status: DisposedITAT Kolkata28 Feb 2019AY 2012-13

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Dr. P. K. Srihari, CIT-DR & Robin Choudhury, Addl.CIT(DR)
Section 115JSection 143(3)Section 14A

6-10: Disallowance of depreciation: Rs.3,16,92,148/- I.T.A Nos.191 & 192/Kol/2018 & I.T.A Nos.138 & 139/Kol/2018 M/s. Electrosteel Castings Ltd. Assessment Year: 2012-13 & 2013-14 3.1 The AO in his order has contended that sales tax remission and Industrial Promotion Assistance received by the assessee, being capital in nature should be reduced from the cost of capital asset. Since

DCIT, CENTRAL CIRCLE - 4(4), KOLKATA, KOLKATA vs. M/S. ELECTROSTEEL CASTINGS LIMITED., KOLKATA

ITA 192/KOL/2018[2013-14]Status: DisposedITAT Kolkata28 Feb 2019AY 2013-14

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Dr. P. K. Srihari, CIT-DR & Robin Choudhury, Addl.CIT(DR)
Section 115JSection 143(3)Section 14A

6-10: Disallowance of depreciation: Rs.3,16,92,148/- I.T.A Nos.191 & 192/Kol/2018 & I.T.A Nos.138 & 139/Kol/2018 M/s. Electrosteel Castings Ltd. Assessment Year: 2012-13 & 2013-14 3.1 The AO in his order has contended that sales tax remission and Industrial Promotion Assistance received by the assessee, being capital in nature should be reduced from the cost of capital asset. Since

DCIT, CENTRAL CIRCLE - 4(4), KOLKATA, KOLKATA vs. M/S. ELECTROSTEEL CASTINGS LIMITED., KOLKATA

ITA 191/KOL/2018[2012-13]Status: DisposedITAT Kolkata28 Feb 2019AY 2012-13

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Dr. P. K. Srihari, CIT-DR & Robin Choudhury, Addl.CIT(DR)
Section 115JSection 143(3)Section 14A

6-10: Disallowance of depreciation: Rs.3,16,92,148/- I.T.A Nos.191 & 192/Kol/2018 & I.T.A Nos.138 & 139/Kol/2018 M/s. Electrosteel Castings Ltd. Assessment Year: 2012-13 & 2013-14 3.1 The AO in his order has contended that sales tax remission and Industrial Promotion Assistance received by the assessee, being capital in nature should be reduced from the cost of capital asset. Since

M/S. ELECTROSTEEL CASTING LIMITED.,KOLKATA vs. DCIT, CENTAL CIRCLE - 4(4), KOLKATA, KOLKATA

ITA 139/KOL/2018[2013-14]Status: DisposedITAT Kolkata28 Feb 2019AY 2013-14

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Dr. P. K. Srihari, CIT-DR & Robin Choudhury, Addl.CIT(DR)
Section 115JSection 143(3)Section 14A

6-10: Disallowance of depreciation: Rs.3,16,92,148/- I.T.A Nos.191 & 192/Kol/2018 & I.T.A Nos.138 & 139/Kol/2018 M/s. Electrosteel Castings Ltd. Assessment Year: 2012-13 & 2013-14 3.1 The AO in his order has contended that sales tax remission and Industrial Promotion Assistance received by the assessee, being capital in nature should be reduced from the cost of capital asset. Since

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

ITA 372/KOL/2021[2014-15]Status: DisposedITAT Kolkata17 Sept 2024AY 2014-15

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

For Appellant: Sriram Sashdari, ARFor Respondent: Rakesh Kumar Das, CIT, DR
Section 250Section 43(6)Section 50CSection 50C(2)Section 928

Section 43(6)(c) read with Section 32 of the Act, and therefore Section 50C is not applicable, reliance in this regard is placed on the following- -Decision of the jurisdictional Tribunal in the case of Eveready Industries India Ltd. -vs.- PCIT (2020) 181 ITD 528 (Kolkata Trib.) wherein the Hon'ble ITAT has held that while computing

TATA CONSUMER PRODUCTS LIMITED,KOLKATA vs. DCIT, CIR.-4(1), KOLKATA

In the result, the appeal for AY 2014-15 is partly allowed

ITA 373/KOL/2021[2015-16]Status: DisposedITAT Kolkata17 Sept 2024AY 2015-16

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishraassessment Years: 2014-15 & Assessment Years: 2015-16

For Appellant: Sriram Sashdari, ARFor Respondent: Rakesh Kumar Das, CIT, DR
Section 250Section 43(6)Section 50CSection 50C(2)Section 928

Section 43(6)(c) read with Section 32 of the Act, and therefore Section 50C is not applicable, reliance in this regard is placed on the following- -Decision of the jurisdictional Tribunal in the case of Eveready Industries India Ltd. -vs.- PCIT (2020) 181 ITD 528 (Kolkata Trib.) wherein the Hon'ble ITAT has held that while computing

ACIT, CIRCLE-3, KOLKATA, KOLKATA vs. M/S TATA METALICS LTD., KOLKATA

In the result, all the four appeals of the Revenue are dismissed, while all the four appeals of the assessee are treated as partly allowed as indicated above

ITA 956/KOL/2012[2005-06]Status: DisposedITAT Kolkata04 Mar 2016AY 2005-06

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

6 of its appeal for A.Y. 2007-08, the Revenue has challenged the action of the ld. CIT(Appeals) in directing the Assessing officer to delete the addition of Rs.6,43,924/- made to the book profit computed under section 115JB of the Act on account of disallowance

RIDHI VINCOM PVT. LTD.,KOLKATA vs. I.T.O., WARD - 4(1),, KOLKATA

In the result, the appeal of the assessee is allowed

ITA 947/KOL/2025[2013-2014]Status: DisposedITAT Kolkata15 Oct 2025AY 2013-2014

Bench: Shri Rajesh Kumar, Am & Shripradip Kumar Choubey, Jm Ito, Ward 4(1) Ridhi Vincom Pvt. Ltd. Aaykar Bhawan Poorva, C/O M/S Salarpuriajajodia& Co. P-7, Chowringhee Square, 7, C.R. Avenue, 3 Rd Floor, Vs. 8Th Floor, Kolkata-700069, Kolkata-700072, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aaecr9858C Assessee By : Shri S. Jhajharia, Ar Revenue By : Shri Manas Mondal, Dr Date Of Hearing: 17.09.2025 Date Of Pronouncement: 15.10.2025

For Appellant: Shri S. Jhajharia, ARFor Respondent: Shri Manas Mondal, DR
Section 43(5)(d)

6. Section 43(5) of the Income Tax Act defines ‘speculative transaction’. As per the Scheme of the Act, a transaction of speculative nature carries a differential treatment qua the non speculative transaction in the matter of set off and carry forward of losses arising therefrom. The proviso to Section 43(5) provides for certain exceptions in varied situation

SHETH COMMERCIAL CO.,KOLKATA vs. PR.CIT-14, KOLKATA

In the result, the appeal of the assessee is allowed

ITA 1100/KOL/2019[2014-15]Status: DisposedITAT Kolkata12 Jun 2020AY 2014-15

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1100/Kol/2019 ("नधा"रणवष" / Assessment Year: 2014-15)

For Appellant: Shri Miraj D Shah, A.RFor Respondent: Shri Ram Bilash Meena, CIT
Section 143(3)Section 263Section 43(5)

section 43(5) of the Income-tax Act, 1961 ('the Act')/ was applicable to the transactions in foreign currency futures entered into by the appellant and therefore that the loss from these transactions was not in the nature of speculation loss." 7. The Tribunal decided the issue as under:- "considering the relevant provisions of the relevant Acts, discussed here

D.C.I.T CIR - 10,KOLKATA, KOLKATA vs. M/S PHILLIPS CARBON BLACK LTD, KOLKATA

In the result, the appeals of Revenue in ITA 2123/Kol/13 and ITA

ITA 2123/KOL/2013[2006-07]Status: DisposedITAT Kolkata12 Aug 2016AY 2006-07

Bench: : Shri P.M.Jagtap & Shri S.S. Viswanethra Ravi

For Appellant: Shri D.S.Damle, FCA, ld.ARFor Respondent: Shri Kalyan Nath, JCIT, Sr.DR
Section 10Section 14Section 143(2)Section 143(3)Section 14A

6. The AO was of the view that Rule 8D in all proceedings pending on the date of notification and contention of the assessee was rejected. The AO, based on Rule 8D worked out the disallowance of expenditure including interest as under:- (A) Interest Debited to P & L Account Rs.3064.97 lcas (B) Opening Investments as on 01.04.2005 Rs.2035.95 lacs Closing

D.C.I.T CIR - 1,KOLKATA, KOLKATA vs. M/S TEENLOK ADVISORY SERVICES PVT LTD, MUMBAI

In the result, the appeal of the Revenue is partly allowed

ITA 1351/KOL/2013[2009-10]Status: DisposedITAT Kolkata08 Jun 2016AY 2009-10

Bench: Shri P.M. Jagtap & Shri N.V. Vasudevan

Section 14ASection 36(1)(iii)

43,90,464/- u/s14A read with Rule 8D. The appellant has already made a disallowance of Rs.1,20,000/- u/s 14A. In view of it, the AO is directed to delete the disallowance of Rs.2,42,70,464/- u/s 14A. This ground of appeal is allowed”. 5. The ld. D.R., at the outset, submitted that the issue involved in Ground

ENKAY TRAFFIN (P) LTD.,KOLKATA vs. PR.CIT-4, KOLKATA

In the result, appeal of the assessee is allowed

ITA 1177/KOL/2019[2012-13]Status: DisposedITAT Kolkata12 Jan 2021AY 2012-13
Section 143(1)Section 143(3)Section 14ASection 263Section 68

section 133(6) ng the notice under section 133(6) of the Act. (vi) We note from a perusal of the paper book pages (vi) We note from a perusal of the paper book pages-2, 160 to 184 the 2, 160 to 184 the details of share applicant details of share applicant M/s. Shivashiv Dealcom Pvt. Ltd M/s. Shivashiv

DCIT, CIRCLE - 6(1), , KOLKATA vs. M/S. BIRLA CORPORATION LTD., KOLKATA

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 2111/KOL/2018[2011-12]Status: DisposedITAT Kolkata31 Oct 2022AY 2011-12

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

6,40,792/- has to be accepted and no further disallowance can be made under the said provision. 15.11. Ld. Counsel for the assessee took an alternate plea submitting that assuming for the sake of argument that section Page 43

BIRLA CORPORATION LTD.,KOLKATA vs. DCIT, CIR.-6(1), KOLKATA

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 495/KOL/2020[2012-13]Status: DisposedITAT Kolkata31 Oct 2022AY 2012-13

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

6,40,792/- has to be accepted and no further disallowance can be made under the said provision. 15.11. Ld. Counsel for the assessee took an alternate plea submitting that assuming for the sake of argument that section Page 43

DCIT, CIRCLE - 6(1), , KOLKATA vs. M/S. BIRLA CORPORATION LTD., KOLKATA

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 2112/KOL/2018[2012-13]Status: DisposedITAT Kolkata31 Oct 2022AY 2012-13

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

6,40,792/- has to be accepted and no further disallowance can be made under the said provision. 15.11. Ld. Counsel for the assessee took an alternate plea submitting that assuming for the sake of argument that section Page 43

BIRLA CORPORATION LIMITED,KOLKATA vs. DCIT, CIR-6(1), KOLKATA

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 494/KOL/2020[2011-12]Status: DisposedITAT Kolkata31 Oct 2022AY 2011-12

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

6,40,792/- has to be accepted and no further disallowance can be made under the said provision. 15.11. Ld. Counsel for the assessee took an alternate plea submitting that assuming for the sake of argument that section Page 43

ALLAHABAD BANK,KOLKATA vs. ADD.CIT,RANGE-6, KOLKATA, KOLKATA

In the result the appeal of the revenue is dismissed

ITA 1199/KOL/2012[2008-2009]Status: DisposedITAT Kolkata01 Jun 2016AY 2008-2009

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] Assessment Year : 2008-09

For Appellant: Shri Barun Kumar Ghosh & Shri Piyush Dey, FCAFor Respondent: Shri Rajat Subhra Biswas, CIT(DR)
Section 28Section 36Section 36(1)Section 36(1)(viia)

6 & 7.” 35. The decision rendered in the case of Krung Thai Bank referred to above was rendered by Order dated 30.09.2010 in ITA No.3390/2009 passed by ITAT ‘G’ Bench, Mumbai. The Hon'ble ITAT, Mumbai in Maharashtra State Electricity Board vs JCIT 82 ITD 422(mum) took the view that provisions of Sec.115JB of the Act are not applicable