TMI - 209667 - ITAT JAIPUR

Smt. Anita Kaushal Versus Income Tax Officer

Unexplained money – assessee appointed as collecting agent by a company – required to collect the sale proceeds of the aforesaid company from its customers and deposit the same in bank wherefrom it was remitted to company through DD – Revenue contend......

TMI - 209666 - ITAT INDORE

Deputy Commissioner of Income tax 1(1), Bhopal Versus Shrikant Rathi

Jurisdiction defect u/s 158BD – undisclosed income of any other person - assessee filed return in pursunace of notice issued to him u/s 158BD on 24.08.06 after two years 8 months and 23 days of passing the order in case of group searched - Notice u/s......

TMI - 209665 - ITAT MUMBAI

M/s. Global Softech Ltd. Versus Income-tax Officer,

Unexplained credits – difference in bank balance as per books of accounts vs bank balance as per bank statement treated as unexplained credit – assessee submitted that difference is due to cheques received but not deposited in the bank on advice of c......

TMI - 209664 - ITAT MUMBAI

DP WORLD PVT LTD Versus ASSISTANT COMMISSIONER OF INCOME TAX

Fringe Benefit Tax – residential accommodation provided to M.D. - Deposit of Rs 5 crore made for the licence to use & occupy the property – Revenue considering notional interest on such deposit under FBT – Held that:- The provision relating to the co......

TMI - 209663 - ITAT MUMBAI

Kushal K Bangia Versus Income Tax officer 21(1)(2)

Taxability of Cash compensation received – capital receipt vs Revenue receipt - assessee being member of a housing society received flat in new multistoreyed building, displacement compensation and cash compensation in lieu of demolishment of the old......

TMI - 209662 - RAJASTHAN HIGH COURT

Commissioner of Income-tax, Jaipur-II, Jaipur Versus Precious Jewels Corporation

Whether Bogus purchases can be a question of law - Held That:- when assessee filed copies of vouchers of purchases which contained sales tax registration number - Bank Account showing payment made to parties - export invoices and bank corresponden......

TMI - 209661 - BOMBAY HIGH COURT

The Commissioner of Income Tax 17, Mumbai Versus M/s.K. Mohan & Co. (Exports) (Regd.)

Assessee not deducted 90% of interest from profits thereby resulting in excess deduction under 80HHC - Re-assessment - original assessment was completed u/s 143(3)- Re-assessment Proceedings - AO issued notice beyond the period of 4 years from the en......

TMI - 209660 - ITAT, Mumbai

Hindustan Platinum Pvt. Ltd., Versus The ACIT

Dis-allowance of depreciation on windmills – windmills installed & put to use on 31.03.05 – generation of electricity started in April 2005 – assessee admitted during survey that claim of depreciation was technical mistake - dis-allowance of bad debt......

TMI - 209659 - ITAT, Bangalore

M/s Invitro International Pvt. Ltd. Versus D.C.I.T, Cle-11(4), B’lore

Agricultural income – agricultural and non agricultural operations - assessee engaged in the business of growing and exporting of ornamental plants – assessee also carrying on tissue culture methodology in laboratories - Held that:- Plant tissue cult......

TMI - 209658 - ITAT, KOLKATA

Deputy Commissioner of Income-tax, Circle-10, Kolkata Versus Philips Carbon Black Ltd.

Expenses in relation to income not forming part of total income - In view of Godrej & Boyce Mfg. Co. Ltd. v. Dy. CIT (2010 - TMI - 77422 - BOMBAY HIGH COURT) and it has been held that Rule 8D is prospective in nature, which is applicable from A.Y. ......

TMI - 209657 - Andhra Pradesh High Court

Commissioner of Income-tax Versus Anantha Gas Supplies

Depreciation @ 40% or 100% - transport vehicle as consisting of two parts, viz., cylinder and vehicle - the container mounted on the chassis of the truck is nothing but a gas cylinder and it fits in the description of the gas cylinder mentioned in Ap......

TMI - 209656 - DELHI HIGH COURT

Commissioner of Income-tax Versus Granda Services Ltd.

Disallowed - Speed pay and ASP expenses - Deduction u/s 10A - Scrutiny assessment - The Tribunal took note of the arguments of the revenue that the income in the form of convertible exchange received on account of speed pay and ASP fees was not to be......

TMI - 209655 - ITAT MUMBAI

Vipul A. Shah Versus Assistant Commissioner of Income-tax

Set off of indexed long term capital loss against non-indexed long term capital gains - assessee submitted that when long term capital loss is carried forward, the same is allowed to be set off without any restriction with regard to the mode of compu......

TMI - 209653 - ITAT, HYDERABAD

Andhra Bombay Carriers Versus Additional Commissioner of Income-tax, Range 7

Penalty - Provision of section 269SS - Cash loans - The DR, submitted that the assessee held huge cash in hand at Rs. 8,08,760 and borrowing of the cash loans without any hesitation exceeding Rs. 20,000 is gross violation of section 269SS of the Act ......

TMI - 209652 - ITAT, HYDERABAD

Modi Builders & Realtors (P.) Ltd. Versus Assistant Commissioner of Income-tax, Circle 16(2), Hyderabad

Deduction u/s 80-IB - The main contention herein is with regard to inclusion of portico and balcony for the purpose of determining the built-up area as per clause (a) of sub-section (14) of section 80-IB - The dispute herein is with regard inclusion ......

TMI - 209632 - Madras High Court

Velayudhaswamy Spinning Mills P. Ltd. & Others Versus Assistant Commissioner of Income-tax

Deduction u/s 80-IA - Unabsorbed depreciation - During the relevant period, there were no unabsorbed depreciation or loss of the eligible undertakings and the same were already absorbed in the earlier years - Held that: Tribunal has not erred in hold......

TMI - 209631 - MADRAS HIGH COURT

M/s. Kone Elevator India Pvt. Ltd. Versus The Income-tax Officer,

Revised return - Refund - Income escaping assessment - Assessee not computed its income u/s 115JA - Since the royalty had been debited to P & L Account from the accounting year ending 31.3.1991 onwards, the waiver of royalty is clearly a taxable inco......

TMI - 209630 - ITAT, DELHI

DCIT, Versus. M/s. Stratex Net Works (India) Pvt.

Arm’s length price adjustment - TPO concluded that Arm’s Length Price of international transactions relatede to commission on sales and payment of repair charges to AE’s on account of repair of equipment under maintenance contract has notbeen determi......

TMI - 209629 - UTTARAKHAND HIGH COURT

Weatherford Asia Pacific Pte. Ltd. Versus The Assistant Director of Income Tax.

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TMI - 209628 - UTTARAKHAND HIGH COURT

M/s GIL Mauritius Holdings Limited. & Others Versus The Assistant Director of Income Tax.

Writ petition - Court passed an interim order that no final order shall be passed in the assessment, but AO passed a draft order under Section 144C(1) of the Income Tax Act - Held that:- petitions are not maintainable when the core issues are same in......