General Insurance Corporation guidelines permit the assessee to ...

Case Laws Income Tax

November 27, 2014

General Insurance Corporation guidelines permit the assessee to book a loss which has for all practical purposes, been suffered on account of depreciation in value of investments beyond any reasonable hope of recovery - claim of loss allowed - AT

View Source

← Previous Next →

General Insurance Corporation guidelines permit the assessee to ...

Case Laws Income Tax

November 27, 2014

You may also like:

The deposit insurance activity undertaken by the appellant, Deposit Insurance and Credit Guarantee Corporation, falls within the taxable service category of general...

Bad debts claimed u/s 36(2)(i) - Assessee debited ‘Amount written off paid against advance of land’ - As per accounting policy and general business practice any nature...

MAT computation u/s 115JB - In this case, the assessee had incurred business loss / depreciation losses as per books in the AYs 1999-00 & 2000-01 & AYs 2011-12 & 2012-13...

Disallowance of goods lost due to fire - addition invoking section 29 - Moment the insurance Co determines the loss in terms of the insurance policy obtained by the...

MAT computation u/s 115JB - Adjustment of resultant gains / losses of the amalgamation - Accumulated loss - cancellation of shares - Share Capital was reduced with a...

CENVAT Credit - input services - general insurance services - The exclusion clause is specifically applicable only in respect of general insurance service for motor...

CBEC issues General guidelines for implementation of e-payment of refund/ rebate

General Insurance Services - appellant had provided General Insurance Service to eligible employees, falling under Employees State Insurance Scheme (ESI Scheme) by way...

Disallowance of mark to market losses - Nature of loss - allowable business loss or not? - The assessee is consistently following the method of accounting. Therefore,...

CENVAT Credit - Input Services - the insurance service provided by the Deposit Insurance Corporation to the banks is an “input service” and CENVAT credit of service tax...

Forex loss - allowable business loss u/s 37(1) or not? - The assessee company has entered into transactions of buying and selling of forex and incurred a loss on the...

Allowable deduction u/s 37(1) - disallowance of reinsurance premium payment made to non-resident reinsurers who do not have a place of business / branch in India - the...

MAT computation - reduction of least of cash loss or depreciation loss as per books of accounts while computing the book profits u/s 115JB - The assessee has rightly...

The loss arising on account of cancellation of forward contract would also be a business loss and therefore the assessee is entitled to claim the said loss in his books...

The assessee, a professional stock broker, claimed loss on trading of shares which was disallowed by the Assessing Officer (AO) on the grounds that the trades were not...

Quick Updates: