S. 72 : Carry forward and set off of business losses–Business loss can be set off only against business income [S. 28(i)]
CIT v. Punalur Paper Mills Ltd. (2019) 411 ITR 563/ 176 DTR 342/ 309 CTR 42 (Ker.)(HC)S. 72 : Carry forward and set off of business losses–Business loss can be set off only against business income [S. 28(i)]
CIT v. Punalur Paper Mills Ltd. (2019) 411 ITR 563/ 176 DTR 342/ 309 CTR 42 (Ker.)(HC)S. 68 : Cash credits-Share application money–Failure to appear in response to summons- Addition is held to be justified. [S. 131]
J. J. Development Pvt. Ltd. v. CIT (2019)411 ITR 549 (Cal)(HC)S. 40(a)(ia) : Amounts not deductible-Deduction at source– Recipients of the interest income had included the income in their return and paid taxes thereon-No disallowance can be made- Second proviso inserted by Finance Act 2012 is retrospective effect. [S. 201(1)]
PCIT v. Mobisoft Telesolutions Pvt. Ltd. (2019) 411 ITR 607 (P&H)(HC)S. 37(1) : Business expenditure-Must be for business purposes–Not necessary that income should have been earned.
CIT v. Punalur Paper Mills Ltd. (2019) 411 ITR 563/ 176 DTR 342/ 309 CTR 42 (Ker.)(HC)S. 37(1) : Business expenditure–Capital or revenue–Copy right expenses–Only license to use copy right–Allowable as revenue expenditure.
PCIT v. Mobisoft Telesolutions Pvt. Ltd. (2019) 411 ITR 609 (P&H)(HC)S. 37(1) : Business expenditure—Expenditure on software and payment to service provider is allowable as revenue expenditure.
CIT v. DLF Home Developers Ltd. (2019) 411 ITR 378 /(2020) 188 DTR 151 (Delhi)(HC)S. 32 : Depreciation—Concept of passive user cannot be extended for long period—No allowance of depreciation in particular year— unabsorbed depreciation cannot be carried forward. [S. 32(2)]
CIT v. Punalur Paper Mills Ltd. (2019) 411 ITR 563 /176 DTR 342/ 309 CTR 42(Ker.)(HC)S. 28(1) : Business loss-Capital loss-Transaction relating to acquisition of capital asset- Forfeiture of part of earnest deposit– Held to be capital loss and not revenue expenditure. [S. 37(1)]
ICS Systems Pvt. Ltd. v. CIT (2019) 411 ITR 619 /175 DTR 235/ 261 Taxman 169/ 307 CTR 438 (Delhi)(HC)S. 25B : Income from house property-Arrears of rent-Assessable on receipt basis – Provision is not retrospective. [S. 23]
CIT v. Punalur Paper Mills Ltd. (2019)411 ITR 563/ 176 DTR 342/ 309 CTR 42 (Ker.)(HC)S. 22 : Income from house property-Deductions-Municipality tax- Cheque issued before end of previous year-Encashment subsequently -Relates back to date of issue–Entitle to deduction. [S. 24]
CIT v. Punalur Paper Mills Ltd. (2019)411 ITR 563/ 176 DTR 342/ 309 CTR 42 (Ker.)(HC)