Search Results for "section 10(2) deduction"

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Search Results for "section 10(2) deduction"

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Supreme Court

Supreme Court Upholds Assessee in Income Tax Case Allowing Deduction of Expenses Incurred by Partner from Share of Firm's Profits. Partner's Expenditure to Earn Income from Registered Firms is Deductible Under Section 10(2) of Income-tax Act, 1922 Despite Prior Computation of Firm's Profits.

7 Mar 1969

The dispute arose from income tax assessments for the years 1955-56 and 1956-57 concerning Ramniklal Kothari, a partner in four registered firms who d...

High Court

Bombay High Court Allows Revenue Appeal in Section 10A Deduction Case — Brought Forward Losses of Non-10A Unit Must Be Set Off Before Computing Deduction Under Section 10A. The court held that the deduction under Section 10A is to be computed after setting off brought forward losses of non-10A units, as Section 10A is a deduction not exemption and Section 72 applies before Section 10A deduction.

9 Apr 2012

The Revenue appealed against the order of the Income Tax Appellate Tribunal (ITAT) which held that brought forward unabsorbed depreciation and losses ...

High Court

KAHC010028192013_1

26 Sep 2014

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High Court

Bombay High Court Allows Revenue's Appeal in Income Tax Case on Section 80IA Deduction for Infrastructure Development. The Court held that the Assessee, engaged in construction of commercial assets, was not eligible for deduction under Section 80IA(4)(iii) of the Income Tax Act, 1961 as the activity did not constitute 'infrastructure facility'.

5 Jul 2023

The present appeals were filed by the Revenue (Pr. Commissioner of Income Tax, Pune) against a common order dated 25th November 2016 passed by the Inc...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Case Regarding Set Off of Unabsorbed Business Loss Against Profits of Erstwhile 10A Unit. Tribunal's Order Allowing Set Off of Brought Forward Loss of Assessment Year 2002-03 Against Profits of 10A Unit in Assessment Year 2005-06 Upheld.

7 Apr 2015

The case involves two appeals by the Revenue under Section 260A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal, M...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Case — Regional Rural Bank Entitled to Deduction Under Section 36(1)(viia) on Provision for Bad and Doubtful Debts. The court held that the provision for bad and doubtful debts made by the assessee-bank in accordance with RBI guidelines is allowable as a deduction under Section 36(1)(viia) of the Income Tax Act, 1961, and that the Assessing Officer cannot recompute the provision based on a different percentage.

14 Dec 2015

The case involves two appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging a common order dated 28.11.2013 passed ...

High Court

Bombay High Court Dismisses Revenue's Appeal in Section 263 Revision Case — ITAT Order Setting Aside CIT's Revision Upheld. The court held that the Revenue failed to show any perversity or error of law in the ITAT's order setting aside the CIT's revision under Section 263 of the Income Tax Act, 1961, regarding deduction under Section 80IA(4).

25 Feb 2010

The appeal was filed by the Commissioner of Income Tax (Revenue) against an order of the Income Tax Appellate Tribunal (ITAT) dated 27th February 2009...

High Court

High Court Dismisses Revenue's Appeal in Carbon Credit Deduction Case — Income from Sale of Carbon Credits Held Not Derived from Eligible Business Under Section 80IA of Income Tax Act, 1961. The court upheld the Tribunal's decision quashing the revision order under Section 263, finding no substantial question of law.

29 Mar 2016

The appellant, Commissioner of Income Tax-III, Bangalore, filed an appeal under Section 260-A of the Income Tax Act, 1961, against the order of the In...

High Court

High Court of Karnataka Adjudicates TDS Obligations of Turf Clubs on Stake Money Payments to Horse Owners under Income Tax Act. Interpretation of Section 194B and CBDT Circulars Central to Dispute over Characterization of Stake Money as Winnings.

26 Sep 2014

The case involved writ petitions filed by Bangalore Turf Club Limited, Mysore Race Club Limited, Karnataka Race Horse Owners Association, and an indiv...

High Court

High Court of Judicature at Bombay Dismisses Revenue's Appeal in Income Tax Deduction Case Under Section 80-IA(4). Tribunal's finding that assessee qualified as developer of infrastructure facilities for Srisailam and Koyna projects was upheld, as assessee undertook development work and transferred facility to government, meeting statutory criteria under Income-Tax Act, 1961.

11 Mar 2026

The dispute arose from appeals filed by the Revenue under Section 260A of the Income-Tax Act, 1961, challenging orders of the Income Tax Appellate Tri...

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