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3 results for “disallowance”+ Section 22clear

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Key Topics

Section 2(22)(e)4Section 682

M/S.BHASKAR TRADERS vs. ASST.COMMKNR.OF INCOME TAX,BERHAMPUR

The appeals are dismissed

ITA/174/2018HC Orissa30 Mar 2022

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE R.K.PATTANAIK

Section 132Section 153ASection 2(22)(e)Section 68

Section 2(22)(e) of the Act. Furthermore, similar decisions have been rendered by various High Courts including this Court in Commissioner of Income Tax vs. Raj Kumar, (2009) 318 CTR 462, Commissioner of Income Tax vs. F. Praveen, (2008) 220 CTR 639 (Mad.) etc. ITA 174/2018 & connected matters Page 3 of 4 The lone question urged with respect

M/S.SHEETAL REAL vs. INCOME TAX OFFICER

In the result, the appeal fails and the substantial questions of law

ITA/83/2010
HC Orissa
08 Feb 2022

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE R.K.PATTANAIK

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 260ASection 372A

22. At this juncture, it would be beneficial to refer to the decision of the Hon’ble Supreme Court in South Indian Bank Limited. The question of law which arose for consideration before the Hon’ble Supreme Court was whether proportionate disallowance of interest paid by the banks is called for under Section

PRINCIPAL COMMISSIONER OF INCOME TAX-2 vs. M/S.JAGANNATH CHAUDHURY

The appeal is disposed of as indicated above

ITA/1/2018HC Orissa18 Dec 2019

Bench: MR. JUSTICE K. S. JHAVERI (CJ),MR. JUSTICE K.R.MOHAPATRA

For Appellant: THE PRINCIPAL COMMISSIONER OF INCOME TAXFor Respondent: M/S. SAHYADRI CO-OPERATIVE CREDIT SOCIETY LTD

disallowed the deduction claimed under Section 80P of the Act. Further, the Assessing Officer concludes that the assessee earned income from interest on deposits from members and deposits made in scheduled Banks from trading commodities and interest from call money depositors. In view of the view taken by the Assessing Officer, the said income has been treated as income from