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5 results for “depreciation”+ Transfer Pricingclear

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Key Topics

Depreciation3Addition to Income3Section 36(1)(viia)2Section 402Section 722Disallowance2Carry Forward of Losses2

M/S SHREE TRADERS ,BULDHANA vs. ASSISTANT COMMISSIONER OF INCOME TAX, AKOLA CIRCLE, AKOLA

In the result, the appeal of assessee is dismissed

ITA 376/NAG/2017[2014-15]Status: DisposedITAT Nagpur21 Aug 2023AY 2014-15

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Appellant: Shri Rachit ThakarFor Respondent: Smt. Rashmi Mathur
Section 143(2)Section 72

price, Long Term and Short Term Capital Gain and also copies of sale deed with comments in disclosure of accounting policies and notes to accounts. It is noted, according to the assessee, by sale of fixed assets belonging to the assessee as land, building, plant and machineries and capital gain earned thereon is nothing but profits from business which

ASSTT. CIT, CIR- 7, NAGPUR vs. M/S. NEWQUEST CORPORATION LTD., CHANDRAPUR

ITA 328/NAG/2014[2008-09]Status: Disposed
ITAT Nagpur
28 Jun 2022
AY 2008-09

Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2008-2009 The Acit Vs. M/S.Newquest Corporation Ltd. Circle-7, (Now Known As M/S. Avantha Nagpur Holding Ltd. Ballalrpur Paper Mills P.O. Ballarpur, Distt. Chandrapur Pan No.:Aabcb 6134 E Appellant Respondent

For Appellant: Shri K.P. Dewani (Adv.)For Respondent: ShriPiyushKolhe (CIT-DR)
Section 40

price of Rs.7 Crore. From a detailed review of the aforesaid financial arrangement, one can easily ascertain that the net loss suffered by the assessee company is loss Rs.9,26,00,000/- on transfer of shares owned by the assessee in I-BILT.’’ 7 ACIT, CIRCLE-7, NAGPUR VS M/s. Newquest Corporation Ltd. (Now known as Avantha Holdings

ASSISTANT COMMISSIONER OF INCOME TAX AKOLA CIRCLE , AKOLA vs. AKOLA URBAN CO-OPRATIVE BANK LTD , AKOLA

In the result, appeal filed by the Revenue is dismissed

ITA 119/NAG/2020[2015-16]Status: DisposedITAT Nagpur25 Oct 2024AY 2015-16

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Dharan Gandhi a/wFor Respondent: Shri Sandipkumar Salunke
Section 143(3)Section 36(1)(viia)Section 40

depreciation for current year as well as preceding year. The assessee filed its revised return on 01/10/2015, claiming TDS which remained to be claimed in original return of income. There were no changes in income insofar as other claims are concerned. The case was selected for Scrutiny under CASS. The Assessing Officer concluded by passing order dated 27/12/2017, under section

THE AKOLA URBAN CO OP. BANK LTD,AKOLA vs. D.C.I.T. AKOLA CRICLE, AKOLA

In the result, both the appeals of assessee are allowed for statistical purpose

ITA 248/NAG/2015[2011-12]Status: DisposedITAT Nagpur14 May 2019AY 2011-12

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: S/Shri C.J. Thakar & S.C. ThakarFor Respondent: Shri U.U. Kasar

depreciation. The Hon’ble Jurisdictional High Court in the case of Commissioner of Income Tax Vs. HDFC Bank Ltd. (supra) has held that loss incurred on account of transfer of securities held under HTM category has to be allowed as business loss. Similar view has been taken by the Hon’ble Bombay High Court in the case of Pr. Commissioner

THE AKOLA URBAN CO. OP. BANK LTD.,,AKOLA vs. DY. CIT- AKOLA CIRCLE,, AKOLA

In the result, both the appeals of assessee are allowed for statistical purpose

ITA 91/NAG/2015[2010-11]Status: DisposedITAT Nagpur14 May 2019AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: S/Shri C.J. Thakar & S.C. ThakarFor Respondent: Shri U.U. Kasar

depreciation. The Hon’ble Jurisdictional High Court in the case of Commissioner of Income Tax Vs. HDFC Bank Ltd. (supra) has held that loss incurred on account of transfer of securities held under HTM category has to be allowed as business loss. Similar view has been taken by the Hon’ble Bombay High Court in the case of Pr. Commissioner