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3 results for “disallowance”+ Section 23clear

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M/S.SHEETAL REAL vs. INCOME TAX OFFICER

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

ITA/83/2010HC Orissa08 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

disallowance Under Section 14A. In this case, the Bombay High Court even while remanding the case back to Tribunal for adjudicating afresh observed (relying on its own previous judgment in same Assessee's case ITA/83/2010 REPORTABLE Page 49 of 60 for a different Assessment Year) that, if Assessee possesses sufficient interest free funds as against investment in tax free securities

PRINCIPAL COMMISSIONER OF INCOME TAX 1 vs. INDIAN METALS AND FERRO ALLOYS SLTD.

The Appeal is dismissed

ITA/145/2018HC Orissa07 Feb 2024

Bench: DR. JUSTICE S.K. PANIGRAHI,MR. JUSTICE GOURISHANKAR SATAPATHY

Section 40

disallowance under Section 40(a)(ia), the Assessing Officer did not form a decision on the basis of any fresh or new material. Rather, the same material Digitally Signed Signed by: BHABAGRAHI JHANKAR Designation: Assistant Registrar-cum-Senior Secretary Reason: Authentication Location: ORISSA HIGH COURT, CUTTACK Date: 23

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

Section 80P of the Income Tax Act, 1961 (for short, ‘the Act’) of Rs. 1,42,23,305/- and ITA Nos.68/2017, 196/2019, 63/2019, 1/2018, 219/2019 -8- return of income at Rs.1,62,080/-. 5. The Assessing Officer first disallowed