Disallowance of loss on trading in Mentha oil - sale below ...

Case Laws Income Tax

August 29, 2023

Disallowance of loss on trading in Mentha oil - sale below market price - unrelated party transactions - The assessee has to arrange his business affair keeping in view the best interest of the business including retaining of the customers and AO cannot doubt the business transactions merely on ground that same is below the market price, without bringing on record any malafide in transactions - Additions deleted - AT

View Source

← Previous Next →

Disallowance of loss on trading in Mentha oil - sale below ...

Case Laws Income Tax

August 29, 2023

You may also like:

Valuation (Central Excise) - Sale to related parties - the price to the related person cannot be called a non-commercial price since the same was higher than the price...

Transfer pricing adjustment on equity broking services (non-DVP segment/CH settlement) rejected due to negligible difference of 0.01% after considering cost adjustment...

Disallowances of bogus trading loss in penny stock as well as commission expenses - admittedly there was no evidence available on record suggesting that the assessee or...

Valuation loss treated as speculation loss - It is a fact that shares traded by the assessee were not of any of the good companies. The assessee had in the normal course...

Valuation of imported goods - rejection of declared value - enhancement of value - The prices may fluctuate on account of the vagaries of market but the contractual...

This case deals with the levy of deficit stamp duty and penalty in a court-conducted auction sale. The key points are: In a court-supervised auction sale, the stamp...

Disallowance on account of 'mark to market loss' on F&O transaction - additions deleted - AT

Capital gain on sale of shares - market price or agreed price - transfer of shares by obtaining interest free loans for a long tenure coupled with call option agreements...

Transfer pricing adjustment made to alleged international transaction of AMP expenditure incurred by assessee disallowed due to lack of evidence that assessee agreed to...

The reopening of assessment proceedings u/s 147 was valid as the Assessing Officer (AO) had received information about the assessee booking tax loss through trade in...

Disallowance of commodity derivative loss - speculative loss or not - Assessee is engaged in one and only business of derivative trading in different commodity exchanges...

Securities Transaction Tax (STT) rates revised - on sale of options in securities increased from 0.0625% to 0.1% of option premium, on sale of futures in securities...

Disallowing of loss on shares - method of valuation of shares at cost or market price - Since the assessee has himself treated the same as investment, no trading loss...

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...

Assessment of sales shown in accounts at low prices - Benefit of exemption from VAT - sale of footwear - The language of the section is specific insofar as it states...

Quick Updates: