Profitable - Judgment Search Results

Samajbadi Society Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Cuttack

..... one not involving the carrying on of any activity for profit ordinarily profit motive is a normal incident of business activity and ..... not necessarily exclude carrying on an activity which yields profit provided that profit has to be used up for what is recognised ..... utility is to subserve the charitable purpose or to earn profit where profit making is the predominant object of the activity the purpose .....

Dcw Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2001)77ITD462(Mum.)

..... accounts intact without disturbing the value as enhanced after revaluation the depreciation debited to the profit and loss account after adjustment from the revaluation reserve account is the appropriate depreciation ..... from the revaluation reserve such transfer from revaluation reserve should be shown in the profit and loss account separately and an appropriate note by way of disclosure would be .....

Samajbadi Society Vs. Assistant Cit

Court : Income Tax Appellate Tribunal ITAT Cuttack

Reported in : (2001)79ITD112Ctk

..... one not involving the carrying on of any activity for profit ordinarily profit motive is a normal incident of business activity and ..... not necessarily exclude carrying on an activity which yields profit provided that profit has to be used up for what is recognised ..... utility is to subserve the charitable purpose or to earn profit where profit making is the predominant object of the activity the purpose .....

India Seed House Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

..... and therefore the statement cannot be ignored by estimating the profit from the unaccounted sales it is therefore claimed that ..... relevant unaccounted purchase details even though the element of gross profit on unaccounted sales would normally be more than the declared ..... erroneous therefore the statement cannot be ignored for estimating the profit for unaccounted sales which fact has duly been admitted .....

Deputy Commissioner of Vs. U.P. Straw and Agro Products Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... further submitted that the assessee debited arrears of depreciation against the current year s profit 8 shri malik vehemently opposed the contention of shri mehrolra that arrears of depreciation ..... depreciation the assessee makes provision for the depreciation but because of the inadequacy of profits when the amount of depreciation remains not fully absorbed the balance amount becomes unabsorbed .....

ipca Laboratories Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2002)81ITD422(Mum.)

..... earlier the various supreme court decisions support the view that profit includes positive profits as well as negative profits if the negative profit from export of trading goods is taken for the computation ..... disclaimed the entire export turnover of trading goods in favour of supporting manufacturers the profit otherwise eligible for deduction under the main provision is to be further reduced by .....

Eveready Industries India Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... continued though the unit was closed down and therefore the expenditure is allowable against the profits earned by the assessee company 38 we have carefully considered the rival submissions and ..... assessee company it was therefore submitted that the expenditure is allowable as deduction against the profits of the assessee company 54 on the other hand ld departmental representative submitted that as .....

innovative Tech Pack Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

..... was unwarranted and uncalled for 10 the learned authorised representative further submitted that the book profit for the purpose of section 115ja had to be calculated strictly in accordance with the ..... the aforesaid interest and depreciation adjusted by the assessee against the real and correct book profit did not pertain to the previous year relevant to the assessment year under consideration under .....

Deputy Commissioner of Income Tax Vs. U.P. Straw and Agro Products Ltd ...

Court : Income Tax Appellate Tribunal ITAT Delhi

..... further submitted that the assessee debited arrears of depreciation against the current year s profit 8 shri malik vehemently opposed the contention of shri mehrotra that arrears depreciation and ..... depreciation the assessee makes provision for the depreciation but because of the inadequacy of profits when the amount of depreciation remains not fully absorbed the balance amount becomes unabsorbed .....

Mrs. Arathi Shenoy and ors. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT

Reported in : (2000)75ITD100(Bang.)

..... which is deductible in computing the income chargeable under the head profits and gains of business or profession it is thus clear ..... the assets which hitherto belonged to the erstwhile firm that the profits were assessed and the depreciation was allowed in the hands ..... it appears to us that the it authorities mechanically computed the profits of the business by allowing depreciation in respect of all .....