Section 260 of the Income Tax Act
The decision most relied on for Section 260 is DCIT v. Toyo Engineering India ltd. (33 Taxmann.com 560), cited in 22 of the 82 judgments on BharatTax that turn on this section.
Leading authorities on Section 260
DCIT v. Toyo Engineering India ltd.
33 Taxmann.com 560 · 2013 · Reported
22
citing judgments
Depreciation is not allowed on goodwill if it arises from book entries and has no identifiable cost of acquisition. This applies even when goodwill is acquired as part of a scheme of arrangement or amalgamation.
PCIT v. Himanshu Chandulal Patel (108 CCH 0019 SC)
419 ITR 132 · High Court
15
citing judgments
Additions to income cannot be made solely on suspicion. The assessee must be given an opportunity to explain the source of investments, and the addition must be based on material and not mere conjecture.
CIT v. Urmila Ramesh
230 ITR 422 · 1998 · Supreme Court
7
citing judgments
CIT v. Lalit Bahsin
290 ITR 245 · High Court
5
citing judgments
Vodafone Essar Gujarat Ltd. v. CIT
24 Taxmann.com 323 · 2012 · High Court
4
citing judgments
54 (Del) and PCIT-3 v. Fujitsu India Private Ltd.
156 Taxmann.com 310 · High Court
3
citing judgments
