THE DY DIT (I.T) 1(1), MUMBAI vs. M/S. BANK OF AMERICA N.A., MUMBAI

In the result, the appeal by the assessee is partly allowed

32A or section 33 or section 33A or the first proviso to clause\n(ix) of sub-section (1) of section 36 or any loss carried forward under sub-\nsection (1) of section 72 or sub-section (2) of section 73 or sub-section\n(1) 55 [or sub-section (3)] of section 74 or sub-section (3) of section

M/S. BANK OF AMERICAN , N.A,MUMBAI vs. THE JT DIT (I.T)3, MUMBAI

In the result, the appeal by the assessee is partly allowed

32A or section 33 or section 33A or the first proviso to clause\n(ix) of sub-section (1) of section 36 or any loss carried forward under sub-\nsection (1) of section 72 or sub-section (2) of section 73 or sub-section\n(1) 55 [or sub-section (3)] of section 74 or sub-section (3) of section

VISWAAT CHEMICALS LIMITED,MUMBAI vs. CIT(A)-54, EARNEST HOUSE

In the result, original grounds no

Bench: Shri Pavan Kumar Gadale & Shri Gagan Goyalviswaat Chemicals Limited, 909/910 Eco Star, Vishweshwar Nagar, Behind Udupi Vihae Hotel, Mumbai-400 063 Pan: Aaacv4184B ...... Appellant Vs. Dcit Cen. Cir. 6(3), 102, 1St Floor, Earnest House, Ncpa Marg, Nariman Point Mumbai- 400021 ..... Respondent

price falls short of the value of the asset taken into account at the time of cessation, an amount equal to the deficiency shall be allowed as a deduction for the previous year in which the sale took place ; (iv) where a deduction is allowed for any previous year under this section in respect of expenditure represented wholly or partly

DCIT - 14(2)(1), MUMBAI vs. INDIAN OIL CORPORATION PVT. LTD., MUMBAI

price credited to the profit and loss account. A simple\nexample will explain the facts in true perspectives. The assessee is\nforced to sell petrol, diesel or kerosene or LPG used for domestic\nconsumption for say ₹.100/- and the cost comes to ₹.150/-. This\nmandate of the Government of India has resulted in operating loss to\nthe assessee amounting

INDIAN OIL CORPORATION LTD.,MUMBAI vs. ADDL. CIT - 10 (1), MUMBAI

In the result, cross objection filed by the assessee is dismissed

price credited to the profit and loss account. A simple example will explain the facts in true perspectives. The assessee is forced to sell petrol, diesel or kerosene or LPG used for domestic consumption for say ₹.100/- and the cost comes to ₹.150/-. This mandate of the Government of India has resulted in operating loss to the assessee amounting