Tag Archives: Nirma Ltd

Deletion of Section 271(1)(c) Penalty Upheld as Interest Disallowance Under Section 36(1)(iii) Was Debatable

By | September 4, 2026
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Deletion of Section 271(1)(c) Penalty Upheld as Interest Disallowance Under Section 36(1)(iii) Was Debatable Issue Whether the Income Tax Appellate Tribunal (ITAT) was justified in deleting the penalty levied under Section 271(1)(c) of the Income-tax Act, 1961, which was imposed following the disallowance of interest on Secured Premium Notes under Section 36(1)(iii), given that the… Read More »

Depreciation on Acquired Intangibles Allowed and Captive Power and Steam Transfers Upheld at Market Value

By | September 3, 2026
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Depreciation on Acquired Intangibles Allowed and Captive Power and Steam Transfers Upheld at Market Value Issue Whether an assessee is entitled to depreciation under Section 32 on intangible assets (brands and trade names) acquired pursuant to a demerger, when the issue is covered by Tribunal orders in the assessee’s own case for earlier years. Whether… Read More »