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1 - 10 of 11 (0.41 seconds)Section 80G in The Income Tax Act, 1961 [Entire Act]
Sh. Sanjeev Lal Etc. Etc vs Commissioner Of Income Tax ... on 1 July, 2014
19. Upon careful consideration we find that the transfer qua the
assessee has to be considered in A.Y.2006-07 when the MOU was
entered for a consideration of Rs.26.25 lacs. Hence the date of MOU
should be deemed to be the date of transfer in hands of the assessee.
This proposition gets support from the decision of Hon'ble Apex
Court in case of Sanjeev Lal vs. CIT in civil appeal No.5899-5900
vide order dated 01.07.2014. In this case the Hon'ble Apex court had
expounded as under:-
Section 14A in The Income Tax Act, 1961 [Entire Act]
Section 35AB in The Income Tax Act, 1961 [Entire Act]
Section 35D in The Income Tax Act, 1961 [Entire Act]
Section 54 in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income-Tax vs Union Carbide (I) Ltd. on 7 February, 2002
(f) The appellant cannot be denied the benefit of depreciation on the
ground that the know-how was used for a very short duration for
trial / experimental run. [ACIT V. Ashima Syntex Ltd. 251 ITR
133 (Guj), CIT v. Union Carbide (I) Ltd. 254 ITR 488 (Cal), CIT
Vs. Piccadily Agro Industries Ltd. 311 ITR 24 (P&H)"
The Income Tax Act, 1961
Ito 7(1)(3), Mumbai vs Halcyon Resources & Mangement Pvt. ... on 30 November, 2016
"The assessee-company has claimed tax-free income of Rs.14,41,065/-
during the previous year relevant. During the course of assessment
proceedings, the assessee was asked to give reasons why the expenses
attributable to the same shall not be added back to total income. The
assessee-company vide para 9, pg 26 of the letter dated 17.09.2009 has
offered that disallowance of Rs.6,43,856/- on account of interest and
common expenses may be made in view of Rule 8D and the decision of
ITO V. Daga Capital Management Pvt. Ltd. 312 ITR (AT) 1 (Mum)(SB).
Accordingly, disallowance of Rs.6,43,856/- offered by the assessee
company under sec. 14A is added back to total income of the assessee."