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Documents citing M/S. Alag Securities Pvt. Ltd, Mumbai vs The Cit (A) -22 , Mumbai on 26 August, 2022

Shreyas S. Morakhla , Mumbai vs Department Of Income Tax

9. The ld. D.R. then took us through the various decisions of the Tribunal wherein a similar issue has been decided in favour of the Revenue. For instance, he pointed out that in the case of India Infoline Securities (P) Ltd. (supra), it is held by the Tribunal after analyzing the nature of share transactions and relationship between the share broker and his clients that the value of shares purchased by the brokers on behalf of the clients could not be said to have been taken into account in computing the income of the assessee and the deduction on account of bad debts representing the said value could not be allowed u/s 36(1)(vii) because the condition prescribed u/s 36(2)(i) was not fulfilled.
Income Tax Appellate Tribunal - Mumbai Cites 29 - Cited by 0 - Full Document

Axis Bank Limited,Ahmedabad vs The Acit, Circle-1(1)(1), Ahmedabad on 16 January, 2026

14. The Tribunal had given a finding that there will be no impact on revenue, even if the assessee claimed the lease rental expense on SLM basis as per AS-19, as the lease rent claimed over the entire lease period will be the same. Though the addition made in respect of lease rental expense on SLM basis was confirmed by the Tribunal in the assessee's case; the assessee has brought on record decisions of Co- ordinate Bench of other Tribunals wherein the identical claim was allowed to the assessee. In the case of Bata India limited (supra), the Co-ordinate Bench of Kolkata Tribunal had upheld the claim of additional lease rental liability claimed in accordance with the AS-19 on the ground that straight-lining of lease rentals reflected a better and accurate picture of true commercial profits and such claim was not contrary to specific provisions in the Act. Similarly, the Co-ordinate Bench of Mumbai ITA No. 1121/Ahd/2025 to ITA No. 1125/Ahd/2025 Axis Bank Ltd. vs. ACIT, A.Ys. 2011-12 to 2015-16 11 Tribunal in the case of HDFC Securities Limited (Supra) had held as under:
Income Tax Appellate Tribunal - Ahmedabad Cites 16 - Cited by 0 - Full Document
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