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2 results for “disallowance”+ Section 275clear

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Key Topics

Section 44C11

DIRECTOR OF INCOME TAX (IT)-I, MUMBAI vs. M/S. AMERICAN EXPRESS BANK LTD

C.A. No.-008291-008291 - 2015Supreme Court15 Dec 2025

Bench: HON'BLE MR. JUSTICE J.B. PARDIWALA

Section 28Section 37(1)Section 44C

275 incurred at the head office directly in relation to the Indian branches. 4. The respondent vide notice dated 21.10.1999, was asked to explain why the expenses in question should not be subjected to the ceiling specified in Section 44C of the Act, 1961, and thus be disallowed

M/S. I.C.D.S. LTD. vs. COMMISSIONER OF INCOME TAX

The appeals are allowed; the impugned

C.A. No.-003282-003282 - 2008Supreme Court14 Jan 2013
Section 32

disallowed claims, both of depreciation and higher rate, on the ground that the assessee’s use of these vehicles was only by way of leasing out to others and not as actual user of the vehicles in the business of running them on hire. It had merely financed the purchase of these assets and was neither the owner nor user