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M/S. Kanoria Chemicals & Industries ... vs Additional Cit, Range - 10, Kolkata on 26 October, 2021
cites
Commissioner Of Income-Tax, Madras vs K. Srinivasan And K. Gopalan on 22 December, 1952
Since the decision of the Hon'ble Supreme Court prevails over
that of the Hon'ble High Courts, therefore, respectfully following the decision of the
Hon'ble Supreme Court in the case of "CIT Vs. K. Srinivasan" (supra), this issue is
decided against the assessee. The additional ground of assessee's appeal is
accordingly dismissed.
The Income Tax Act, 1961
Principal Commissioner Of Income Tax vs M/S. Rei Agro Ltd on 12 July, 2021
5. So far as the disallowance made under Rule 8D(2)(iii) was concerned, the Ld.
CIT(A) relying on the decision of the Hon'ble Calcutta High Court in the case of
'CIT Vs. REI Agro' (supra) and the Hon'ble Delhi High Court in the case of "ACB
India Ltd Vs. ACIT" reported in 374 ITR 108(Del) directed the Ld. AO to consider
only those investments upon which exempt income had been earned by the assessee.
The Ld. DR could not point out any contrary decision on this issue. In view of this,
this ground of appeal of the revenue is dismissed.
Finance (No. 2) Act, 2014
The Coinage Act, 2011
Section 2 in The Income Tax Act, 1961 [Entire Act]
Section 50B in The Income Tax Act, 1961 [Entire Act]
Jcit, Rang-2, Kota vs Chambal Fertilisers And Chemicals ... on 17 October, 2018
18. The Learned Counsel for the assessee in this respect has further relied upon the
decision of the Hon'ble Bombay High Court in the case of "Sesa Goa Limited Vs.
JCIT" (2020) 117 taxmann.com 96 and further on the decision of the Hon'ble
Rajasthan High Court in the case of "Chambal Fertilizers & Chemicals Ltd Vs. JCIT":