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2 results for “capital gains”+ Section 23clear

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M/S PANCHSHEEL TEXTILE MANFAC. & TRAD. vs. C I T AND ANR.

ITA/109/2007HC Punjab & Haryana13 May 2025

Bench: MRS. JUSTICE LISA GILL,MRS. JUSTICE SUDEEPTI SHARMA

23. pur ANALYSIS OF 15. A b the amount of business or prof of capital is bor respect of the sa Section 28 of th business or prof 16. Ad trading of yarn/ share trading ac shares/securities approved by the 17. The reflected shares auditor. The app the relevant asse 18. It Vardhman Poly shares were

M/S ROCKMAN CYCLES INDS. LTD. vs. COMMR. OF INCOME TAX, LDH. AND ANR.

The appeals are allowed and impugned orders are

ITA/244/2005HC Punjab & Haryana09 Feb 2023

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

Section 143Section 260Section 37

gains of business or profession". Explanation 1.—For the removal of doubts, it is hereby declared that any expenditure incurred by an assessee for any purpose which is an offence or which is prohibited by law shall not be deemed to have been incurred for the purpose of business or profession and no deduction or allowance shall be made