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7 results for “capital gains”+ Section 79clear

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Key Topics

Disallowance6Section 80P(2)(a)4Section 474Short Term Capital Gains4Addition to Income4Section 403Capital Gains3Section 2632Section 143(3)2

SOCIEADADE DE FOMENTO INDL. PVT. LTD.,MARGAO vs. JOINT COMMISSIONER OF INCOME TAX, MARGAO RANGE, MARGAO

In the result, the appeal of the assessee is partly allowed and that of the Revenue is dismissed

ITA 105/PAN/2018[2010-11]Status: DisposedITAT Panaji12 Sept 2022AY 2010-11

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

For Appellant: Sh. Nishant Thakkar, AdvocateFor Respondent: Sh. Ranjan Kumar, CIT-DR
Section 143(1)Section 143(2)Section 14A

capital and any loss on account of the same cannot be claimed to be revenue expenditure. The ld.CIT-DR also drew our attention towards relevant para 7 of the assessment order and submitted that the CBDT Circular No.3/2010 dated 23.03.2010 clearly states that the notional loss/contingent loss which are worked out basing on the market closing date are not allowable

ACIT, CENTRAL CIRCLE, PANAJI vs. M/S SOCIADADE DE FOMENTO INDUSTRIAL P. LTD, MARGAO

Section 2(47)2
Section 143(1)2
Section 143(2)2

In the result, the appeal of the assessee is partly allowed and that of the Revenue is dismissed

ITA 116/PAN/2018[2010-11]Status: DisposedITAT Panaji12 Sept 2022AY 2010-11

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawal

For Appellant: Sh. Nishant Thakkar, AdvocateFor Respondent: Sh. Ranjan Kumar, CIT-DR
Section 143(1)Section 143(2)Section 14A

capital and any loss on account of the same cannot be claimed to be revenue expenditure. The ld.CIT-DR also drew our attention towards relevant para 7 of the assessment order and submitted that the CBDT Circular No.3/2010 dated 23.03.2010 clearly states that the notional loss/contingent loss which are worked out basing on the market closing date are not allowable

UMICORE AUTOCAT INDIA PRIVATE LIMITED ( ORIGINAL APPELLANT UMICORE ANANDEYA (INDIA) PRIVATE LIMITED),ZUARINAGAR, GOA vs. INCOME TAX OFFICER, WARD - 2,, MARGAO

In the result, the appeal for the A

ITA 119/PAN/2019[2010-11]Status: DisposedITAT Panaji05 Oct 2023AY 2010-11

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Raviआयकर अपील सं. / Ita Nos.118 & 119/Pan/2019 "नधा"रण वष" / Assessment Years : 2009-10 & 2010-11

Section 2(47)Section 47

section 47(xiii) by reason of the premature transfer of shares. The Revenue preferred writ petition against the ruling of the AAR. During the pendency of the writ petition, the AO held that there was such short term capital gain of Rs.2.00 crore to the assesssee and as such depreciation of Rs.68,79

UMICORE AUTOCAT INDIA PRIVATE LIMITED ( ORIGINAL APPELLANT UMICORE ANANDEYA (INDIA) PRIVATE LIMITED),ZUARINAGAR, GOA vs. INCOME TAX OFFICER, WARD - 2,, MARGAO

In the result, the appeal for the A

ITA 118/PAN/2019[2009-10 ]Status: DisposedITAT Panaji05 Oct 2023

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Raviआयकर अपील सं. / Ita Nos.118 & 119/Pan/2019 "नधा"रण वष" / Assessment Years : 2009-10 & 2010-11

Section 2(47)Section 47

section 47(xiii) by reason of the premature transfer of shares. The Revenue preferred writ petition against the ruling of the AAR. During the pendency of the writ petition, the AO held that there was such short term capital gain of Rs.2.00 crore to the assesssee and as such depreciation of Rs.68,79

M/S R. S. SHETYE & BROS,PANAJI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1(1), PANAJI

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

ITA 37/PAN/2023[2016-17]Status: DisposedITAT Panaji27 Feb 2026AY 2016-17

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A. No.37/Pan/2023 (A.Y.2016-17) R.S.Shetye & Bros, Vs Acit 1(1), Flat.No.14, 1 St Floor, Aaykar Bhavan, . Trionara Apartments, Edc, Patto, New Muncipal Market, Panjim Panaji- Goa-403001. Goa-403001. Pan .No.Aabfr9785N (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent)

Section 3

gains and such expenditure incurred for acquiring such lease hold right including expenditure towards renewal of mining lease is a capital expenditure. The Ld.AR contentions are that the expenditure of payment of stamp duty and registrations charges are legal expenses in connection with the renewal of lease and is allowable as revenue expenditure. The Ld.AR highlighted the receipt of “sale

SHREE MAHILA CREDIT SOUHARD SAHAKARI SANGH NIYAMIT,BELAGAVI vs. ITO WARD 1 BELAGAVI, BELAGAVI

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 116/PAN/2024[2017-18]Status: DisposedITAT Panaji13 Feb 2026AY 2017-18

Bench: Shri Pavan Kumar Gadale & Shri G D Padmahshalii T A. No.116/Pan/2024 (A.Y. 2017-18) Shree Mahila Credit Souhard Vs Ito-Ward-2, Sahakari Sangh Niyamit, Feroj Khimjibhai Cpx, . Shop.No.3, Maruti Complex, Civil Hospital Road 2 Nd Railway Gate, Tilakwadi, Belagavi-590001. Belgaum-500006, Karnataka. Karnataka. . Pan .No. Aabas9244A (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Assessee By Shri.Pramod Y Vaidya.Ar Revenue By Smt.Rijula Uniyal.Sr.Dr सुनवाई की तारीख/Date Of Hearing 09.02.2026 घोषणा की तारीख/Date Of Pronouncement 13.02.2026 Order Per Pavan Kumar Gadale, Jm: The Appeal Is Filed By The Assesse Against The Order Of The Nfac/Cit(A) Passed U/Sec 143(3) & U/Sec 250 Of The Act. The Assessee Has Raised The Grounds Of Appeal Challenging The Order Of The Cit(A) Partially Sustaining The Denial Of Claim Of Deduction U/Sec80P(2)(A)(I) Of The Act Made By The Assessing Officer & Without Prejudice Alternate Relief U/Sec80P(2)(D) Of The Act & Sustaining Denial Of Deduction Of Interest On Income Tax Refund Under Section 80P(2)(A)(I) Of The Act.

Section 80P(2)(a)Section 80P(2)(d)

79,589/-. Finally the A.O. was not satisfied with the explanations on the members information and dealt on the provisions and judicial decisions and denied the claim of deduction u/sec80P2(a)(i) of the act of Rs.4,58,29,779/-and similarly denied the claim u/sec80P2(a)(i) of the Act being interest on income tax refund of Rs.13

M/S FEELINGS,MARGAO vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX, PANAJI

The appeal is ALLOWED in above terms

ITA 149/PAN/2019[2014-15]Status: DisposedITAT Panaji01 Sept 2023AY 2014-15

Bench: Hon’Ble Shri S. S. Godara & Shri G. D. Padmahshaliआयकर अपील सं. / Ita No. 149/Pan/2019 धििाारण वर्ा / Assessment Year : 2014-15 M/S. Feelings, H. No. 2730, Murida, Fatorda Margao Goa- 403601 Pan:Aabff4135A . . . . . . . अपीलाथी / Appellant

For Appellant: Shri Rahul SardaFor Respondent: Shri N. Shrikanth
Section 143(3)Section 253(1)Section 263Section 30Section 40

79,160/- after claiming a deduction of ₹84,00,000/- u/s 40(b)(v) of the Act towards partners remuneration. 2.2 The assessee’s version of computation of book profit was comprised of income from operation of ₹3,00,000/- and balance of ₹4,66,45,829/- represented by interest income earned/accrued, which was accepted