Search Results for "Set-off of Losses"

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Search Results for "Set-off of Losses"

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Supreme Court

Supreme Court Dismisses Appeal of NBFC in Income Tax Dispute on Set-off of Speculation Loss. Principal Business Determined by Actual Activities, Not Registration; Amendment to Explanation to Section 73 Held Prospective.

30 Apr 2019

The appeal arose from a judgment of the Calcutta High Court in an appeal under Section 260A of the Income Tax Act, 1961, concerning the assessment yea...

High Court

Bombay High Court Dismisses Revenue's Appeal in Section 32AB Deduction Case. Deduction under Section 32AB of the Income Tax Act, 1961 is to be computed on the profits of each eligible business unit separately without setting off losses from another eligible business unit, where separate accounts are maintained.

25 Oct 2005

The case involves an appeal by the Revenue under section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal (ITAT...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Case on Set-off of Speculation Loss Against Delivery-Based Share Profits. Explanation to Section 73 of Income Tax Act, 1961 Deems Delivery-Based Share Transactions as Speculation Business for Companies, Allowing Set-off of Brought Forward Speculation Loss.

16 Feb 2010

The case involved an appeal by the Revenue under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal (ITAT...

Supreme Court

Supreme Court Dismisses Revenue Appeal on Interpretation of Section 80J of Income Tax Act; Holds That Profits of New Industrial Undertaking Must Be Computed as Per Total Income Without Re-Deducting Past Losses Already Set Off.

6 Oct 1968

The case involved a dispute under Section 80J of the Income Tax Act, 1961, concerning the deduction available to a new industrial undertaking. The res...

Supreme Court

Supreme Court Allows Assessee's Appeal in Income Tax Provisional Assessment Case — Income-tax Officer Cannot Adjudicate Disputed Loss Claims Under Section 141 of Income-tax Act, 1961. Provisional Assessment Must Be Based on Return and Documents Without Enquiry into Disputed Questions of Law and Fact, and Section 80 Bar on Carry-Forward of Loss Applies Only to Regular Assessment.

24 Sep 1968

The appellant, a cement company, filed income tax returns from 1954-55 to 1964-65. Assessments for 1954-55 to 1959-60 were made but were under appeal....

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