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It is imperative that for claiming deduction under Section 43B, the amounts should be otherwise deductible.
I.G.Petrochemicals Limited Vs The Deputy Commissioner of Income-tax
(2022) TaxCorp(LJ) 28475 (ITAT-BANGALORE) · Section 43B
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Mere application of whole or some part of the income from the construction business for charitable purposes would not render the business itself being considered as incidental to the attainment of the objects.
Zilla Nirmiti Kendra Vs ACIT
(2022) TaxCorp(LJ) 28461 (ITAT-BANGALORE) · Section 11
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Milk parlours cannot be considered as godowns or warehouses contemplated u/s 80P(2)(e).
Hassan Co-operative Milk Producers Societies Union Ltd Vs ACIT
(2022) TaxCorp(LJ) 28403 (ITAT-BANGALORE) · Section 80P(2)(e)
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It is settled law that deduction can be permitted only with respect to those expenses which are incurred in the relevant AY.
Geetha Pundaleeka Vs The Deputy Commissioner of Income Tax (International Txn.)
(2020) TaxCorp(LJ) 28375 (ITAT-BANGALORE) · Section 40(a)(ia)
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In order to fall within the ambit of FTS, the service providers should have made available, to the Assessee, the technical knowledge, experience, skill, know-how etc.
Wipro Limited Vs Deputy Commissioner of Income-tax
(2022) TaxCorp(LJ) 28368 (ITAT-BANGALORE) · Section 195
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Depreciation claimed by the Assessee on goodwill acquired deserves to be allowed.
M/s. Altimetrik India Pvt. Ltd. Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 28354 (ITAT-BANGALORE)
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The provision of TDS provisions cannot applicable where there is no claim of expenditure made by the assessee.
M/S ROBERT BOSCH ENGINEERING AND BUSINESS SOLUTIONS PVT. LTD. VERSUS THE INCOME TAX OFFICER (TDS) / (OSD) LTU, BANGALORE
(2022) TaxCorp(LJ) 28329 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=95482&Category=ITAT&CategoryType=Zip
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We are unable to approve the computation of capital gain made by the AO in AY 2011-12 also. Accordingly, the computation of capital gain made by the assessee in AY 2011-12 is upheld.
M/S. GODHA REALTORS PVT. LTD. VERSUS ACIT CENTRAL CIRCLE-2 (2) BENGALURU
(2022) TaxCorp(LJ) 28322 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=95446&Category=ITAT&CategoryType=Zip
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Loss arising on restatement of outstanding liabilities is on revenue items and the same is allowable as deduction.
HERBALIFE INTERNATIONAL INDIA PVT. LTD. VERSUS THE DY. COMMISSIONER OF INCOME-TAX, CIRCLE-3 (1) (2) , BENGALURU.
(2022) TaxCorp(LJ) 28321 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=95447&Category=ITAT&CategoryType=Zip
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Revenue is not entitled to change the method of valuation of shares.
M/s. Fortigo Network Logistics Pvt. Ltd. Vs ACIT
(2022) TaxCorp(LJ) 28320 (ITAT-BANGALORE) · Section 56(2)(viib)
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Period of four years would be reasonable period of time for initiation of proceeding under section 201.
Mphasis Ltd Vs DDIT (International Tax)
(2022) TaxCorp(LJ) 28271 (ITAT-BANGALORE)
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Since the software product itself was not fully functional and there was no possibility of its sale, the expenses could not have been capitalized and treated as part of the fixed assets for claiming depreciation on the same.
iGNIS Technology Solutions Pvt. Ltd Vs The Income Tax Officer
(2022) TaxCorp(LJ) 28171 (ITAT-BANGALORE)
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The expenditure in question has to be regarded as revenue expenditure.
Kotak Mahindra Bank Limited Vs DCIT
(2022) TaxCorp(LJ) 28163 (ITAT-BANGALORE) · Section 37(1)
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The disallowance should be restricted to Rs.9.88 Cr. i.e. to the extent to which information was not furnished.
HP India Sales Pvt. Ltd Vs JCIT (LTU)
(2022) TaxCorp(LJ) 28162 (ITAT-BANGALORE)
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Assessee has incurred expenses not only on account of social responsibility, but also keeping in mind the goodwill and benefit it would yield in the long run in earning profit. Hence this expenditure would be in the realm of business expenditure.
M/S. KUMARASWAMY MINERAL EXPORTS PVT. LTD., [FOR AND ON BEHALF OF ERSTWHILE PARTNERSHIP FIRM M/S. KUMARASWAMY MINERAL EXPORTS] VS. THE JOINT COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 28158 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=94971&Category=ITAT&CategoryType=Zip
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Merely giving license to the developer could not be said to be the possession within the meaning of Section 53A of TPA and the developer has to get the control over the land and not actual physical occupation of land.
NG Balu Reddy, HUF Vs The Asst. Commissioner of Income-tax
(2022) TaxCorp(LJ) 28150 (ITAT-BANGALORE)
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There was no material whatsoever produced by the Assessee to disprove the conclusions drawn by Revenue and positively prove that it purchased machineries in question for R&D and that it carried out R&D activities.
The Official Liquidator in case of M/s. Jupiter Bioscience Limited Vs DCIT
(2022) TaxCorp(LJ) 28140 (ITAT-BANGALORE) · Section 35(2)(ia)
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Under sec. 273B of the Act, the penalty u/s 271B shall not be imposable, if the assessee proves that there was reasonable cause for the failure to comply with the provisions of sec.44AB.
M/S. SLV HOUSING DEVELOPMENT CORPORATION VERSUS ACIT CENTRAL CIRCLE 2 (2) BANGALORE
(2022) TaxCorp(LJ) 28139 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=94916&Category=ITAT&CategoryType=Zip
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The assessee would be entitled to claim bad debts as well as fall in value of inventory as deduction, subject to satisfaction of the conditions for such allowance laid down in the Act.
Middleby Celfrost Innovations Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 28133 (ITAT-BANGALORE)
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Provision made in the subsequent year cannot be considered for the purpose of allowing deduction u/s 36(1)(viia).
Canara Bank Vs Deputy Commissioner of Income-tax
(2022) TaxCorp(LJ) 28127 (ITAT-BANGALORE) · Section 36(1)(viia)
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