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4 results for “capital gains”+ Section 37(1)clear

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Key Topics

Section 35D3Deduction3Section 2602

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

1) The deductions pr all be allowed in respect of t mputing the income referred to in xx xxxx ) the amount of the interest p the purpose of the business or p planation :- Recurring subs areholders, or subscribers in M ch conditions as may be prescri rrowed within the meaning of thi levant portion of order dated 31 Tribunal, Chandigarh

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

37.(1) Any expenditure (not being expenditure of the nature described in sections 30 to 36and not being in the nature of capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head "Profits and gains

BHARTI BHUSHAN JINDAL vs. COMMISSIONER OF INCOME TAX LUDHIANA

ITA/385/2014HC Punjab & Haryana03 Jul 2025

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

Section 142(2)Section 143(2)Section 260ASection 271Section 36(1)(vii)Section 36(2)Section 41(1)Section 56Section 57

37 read with Section 57(iii) is justified as a revenue item without considering the stand of ‘charging to tax’ the recovery so made under Section 41(1) of the Act? 7. Before proceeding further, it would be apposite to reproduce the relevant provisions of the IT Act and relevant portion of order dated 13.07.2012 passed by the learned Tribunal

M/S MAJESTIC AUTO LTD vs. COMMISSIONER OF IT & ANR

ITA/290/2005HC Punjab & Haryana05 Dec 2025

Bench: MR. JUSTICE AMARINDER SINGH GREWAL,MR. JUSTICE JAGMOHAN BANSAL

Section 260Section 35D

capital expenditure or personal, laid out or expended wholly or exclusively for the purpose of business shall be allowed in computing the income chargeable under the head “Profit and gains of business”. The Revenue is not claiming that expenses claimed by appellant were not incurred in connection with business of the appellant. The appellant concededly incurred expenses on travelling