New User / Register | Bookmarks | Annual Subscription | Feedback |
Login: Stay
| Forget Password |
           
TMI - Tax Management India. Com  

Recent Discussionss:

Export Without Central Excise registration Excise Duty on Tooling developed by Supplier Excise duty liabilities on one FG use in other FG within the Factory SERIES OF INVOICES service tax credit on commission service received 1% interest penalty when cenvat credit reversed without utilising Treatment of Share Issue Expenses in realtion to increased Authroised Capital Service Tax & Vat Bot charged on Window 8.1 Professional purchased transportation of goods by railway SERVICE TAX ON SOFTWARE DEVELOPMENT AND CONSULTING EXPENSES
Search in Case Laws

Refine Search / Filter

Case Laws
Text
Search as Search in: -

Filter [Optional]
Include In:
Date From To DD-MM-YYYY
Law - Section [Only for Income Tax]
Court - City
Exclude

OR
TMI Citation
or TMI - ID

To use various search filters - clik the link Refine Search / Filter above

Search Results

Showing 1301 to 1315 of 6765 Records

   

1301

2010 (2) TMI 990 - ITAT AHMEDABAD

Assistant Commissioner of Income-tax Versus Abhishek Exports

-

.......... nvoked only when the assessee has incurred expenditure for which he has no explanation regarding its source or explanation is not satisfactory in the opinion of the Assessing Officer. In the case of the assessee the said amount was not claimed as expenditure in accounts. We find that no addition can be made under section 69 of the Act unless the records of the third parties are properly scrutinised and confronted. We find that to treat the unexplained investment in purchases no addition can be made merely because supplier could not be located or were not produced for examination. We find that it is supported by purchase bills, vouchers, etc. The assessee has supplier rsquo s sales tax number, the amounts were also paid through bank challan. Therefore, we are of the view that no addition can be made. Therefore, we are of the view that the Commissioner of Income-tax (Appeals) is justified in his action and our interference is not required. In the result the appeal is dismissed.

1302

2010 (2) TMI 757 - ITAT, Ahmedabad

Reliable Surface Coatings Versus ACIT

Rejection of books of account u/s 145(3). - disallowance the labour and wages charges paid by the assessee. - Upholding the addition of difference .....

.......... d to be allowable while computing the income of the firm, in terms of the proviso to section 28(v), the same will not form part of the income of Smt. S. Mishra and if so assessed is required to be excluded from her income. In the result, the appeals are dismissed and the cross-objections are partly allowed. We summarise the result as under - (1) The assessee s appeal, I. T. A. No. 974/Ahd/2007 for the assessment year 2004-05 is partly allowed. (2) The assessee s appeals, I. T. A. Nos. 4363 and 4364/Ahd/2007 for the assessment years 2002-03 and 2003-04 are partly allowed, whereas the Revenue s appeals, I. T. A. Nos. 4406 and 4407/Ahd/2007 for the assessment years 2002-03 and 2003-04 are dismissed. (3) The Revenue s appeals, I. T. A. Nos. 4403, 4404 and 4405/Ahd/2007 for the assessment years 1999-2000, 2000-01 and 2001-02 are dismissed and the assessee s cross-objection Nos. 29, 30 and 31/Ahd/2008 are partly allowed. The order pronounced in the open court on February 12, 2010.

1303

2010 (2) TMI 448 - MADRAS HIGH COURT

COMMISSIONER OF CUSTOMS, TUTICORIN Versus THIRU AROORAN SUGARS LTD.

Bill of entry - Amendment to bill of entry - Goods had been cleared to home consumption, hence section 149 of Custom Act, 1962 cannot be applied unles.....

.......... lso be made under Section 154 of the Act. According to the respondents, this is purely a clerical and arithmetic error. If so, they could not have made the application-under Section 149. 10. The decision of the Appellate Tribunal is devoid of reason. The impugned order does not indicate why in the present facts and circumstances, the officer ought to have exercised his discretion under Section 149. The above substantial questions of law are answered accordingly. The appeals are allowed. Consequently, connected miscellaneous petitions are closed. No order as to costs. 11. The learned counsel appearing for the respondents submitted that they may be permitted to apply to the authorities concerned for rectification of clerical and arithmetic error under Section 154 of the Customs Act, 1962. No leave is necessary for that, if they are entitled in law to file such an application. If the respondents file such an application, it shall be dealt by the appellant in accordance with law.

1304

2010 (2) TMI 892 - ITAT, Agra

Baijnath Agarwal Versus ACIT

Disallowance of telephone and car expenses - AO disallowed 1/4th of the total expenses - CIT(A) has reduced this disallowance to 1/6th - Held that:- T.....

.......... by the assessee is chargeable to tax as L.T.C.G. and cannot be treated as income from any undisclosed sources. Thus, the question referred to me is decided in favour of the assessee. 19. The matter will now go before the Regular Bench for deciding the appeal in accordance with the majority opinion. ORDER P.K. Bansal, Accountant Member - 1. In this case the difference arose between the Members of the Division Bench hearing this appeal. Therefore, the matter was referred to the opinion of the ld. Third Member. The ld. Third Member has agreed with the view taken by the ld. Judicial Member that the CIT(A) has erred on facts as well as in law in upholding the order of the Assessing Officer treating the income under the head Long Term Capital Gain as sham and bogus and taxfng the same under the head income from other sources . Therefore, in view of the majority decision, the assessee s appeal is partly allowed. 2. In the result, appeal of the assessee is treated as allowed in part.

1305

2010 (2) TMI 739 - ITAT, Mumbai

Asian PPG Industries Ltd. Versus DCIT

Rejection of Long Term Capital Loss on the basis of Ownership of Capital Asset - disallowance u/s 36(1)(iii) interest on fund borrowed - disallowance .....

.......... ating the expenses, the Assessing Officer has also noticed that the assessee was having loan fund and investment was made for 150.83 million to earn dividend income. The contention of the assessee is that when the Assessing Officer has estimated 10 per cent of the amount of dividend as expenses incurred for earning the said dividend, which includes interest expenses and, therefore, no separate disallowance under section 36(1)(iii) is required considering the same reason that the assessee has utilized the borrowed funds in investment of Rs. 150.83 million, otherwise that will be a double addition. Since the learned AR has not pressed ground relating to 14A, the addition to that extent becomes confirmed. No separate disallowance is required under section 36(1)(iii) on the same reason that the assessee has invested borrowed funds in investment of Rs. 150.83 million. We, therefore, delete the addition of Rs. 20,60,000. 11. In the result, appeal of the assessee is partly allowed.

1306

2010 (2) TMI 715 - ITAT, Pune

DCIT and Anr. Versus Padma S. Bora

Deduction u/s 80JJA - business of collecting and processing or treating of bio-degradable waste for generating power or producing bio-fertilizers, bio.....

.......... eipts, the profits and gains of the assessee relatable to the activity of collecting of bio-degradable waste are not derived from the business activities of the assessee. In other words assessee should be engaged in business of collecting. Therefore, we are of the considered opinion that the order of the CIT(A) in this regard does not need interferences. Accordingly, grounds raised by the assessee are dismissed. 27. In the result cross-objection of the assessee is dismissed. ITA No. 1151/Pn/2007 and C.O. No. 3/Pn/2007 mdash Asst. yr. 2004-05 - 28. As mentioned above, the grounds raised in the Revenue s appeal and objections raised by the assessee in the cross-objection for the asst. yr. 2004-05 are exactly identical. Therefore we are of the opinion that the same is covered by our decisions mentioned in connection with appeal ITA No. 1076/Pn/2007 and C.O. 50/Pn/2008, as the case may be. 29. In the result, appeal of the Revenue and cross-objection of the assessee are dismissed.

1307

2010 (2) TMI 682 - Gujarat High Court

Himalaya Machinery P. Ltd. Versus Deputy Commissioner of Income-tax

Reassessment - Income escaping assessment - Disallowance - Since the assessee has incurred the expenditure more than the provision made, the assessee’.....

.......... ond appeal. We are of the view that though the finding was recorded by the learned Commissioner of Income-tax (Appeals) that the assessee has incurred the expenditure more than the provision made, just to substantiate this finding, the figures were called and there is no dispute about those figures and hence, considering those figures, we are of the view that the issue raised in the tax appeal is squarely covered by the decision of the apex court and the Tribunal has rightly decided this issue in favour of the assessee. We, there- fore, do not propose to formulate any substantial question of law as framed by the Revenue. The appeal is, therefore, dismissed. 11. Since the Revenue rsquo s appeal on the merits is dismissed by the court and the order passed by the Tribunal is confirmed, the appeal filed by the assessee challenging reopening of assessment has become infructuous and hence, it is also dismissed. 12. In the result, all the four tax appeals are accordingly dismissed.

1308

2010 (2) TMI 922 - GOVERNMENT OF INDIA, MINISTRY OF FINANCE

IN RE: SCAN GEOGRAPHICAL AS

Revision application - goods were exported under free shipping bills and later converted into drawback shipping bills under Section 74 of Customs Act,.....

.......... irit of case matter as elaborately discussed in individual judgments in para 4(iv) and 5 is in conformity with the above and is of the view as expressed by Hon rsquo ble Supreme Court in M/s. Suksha International 1989 (39) E.L.T. 503 (S.C.) and M/s. Formica India 1995 (77) E.L.T. 511 (S.C.) that when there is no evidence against actual imports/exports as none of the available document stand objected as being incorrect or false then the department should act in way so as facilitate the verification of substantive requirement rather than totally denying the available incentive scheme and the substantial benefits to the importer/exporter otherwise the very purpose of the same will stand defeated which would not be just and proper for natural justice. Government rsquo s view are, in conformity with view of Commissioner (Appeal) and therefore Government upholds the impugned order-in-appeal. 11. emsp Revision application is thus rejected being devoid of merits. 12. emsp So ordered.

1309

2010 (2) TMI 713 - Delhi High Court

Commissioner of Income-tax Versus ECS Ltd.

Penalty u/s 271(1)(c) - Whether claim of excessive deduction u/s 80-O amounts to escaping of Income. - Held that:- the appellant has proved its guilty.....

.......... 708 (Ker) Nagin Chand Shiv Sahai v. CIT 1938 6 ITR 534 (Lahore) CIT v. Gates Foam and Rub- ber Co. 1973 91 ITR 467 (Ker)). It is not right to say on the part of the appellant that the Assessing Officer has to record the satisfaction before initiating the penalty proceedings under section 271(1)(c) for the reason that the factum of concealment on account of furnishing inaccurate particulars of one s income clearly emanates from the assessment order and I consider the same as recording of satisfaction on the part of the Assessing Officer. 15. The upshot of the aforesaid discussion would be to hold that the penalty was rightly imposed by the Assessing Officer and confirmed by the Com- missioner of Income-tax (Appeals). We accordingly decide the question of law framed in favour of the Revenue and against the assessee and thereby set aside the order of the Tribunal and restore the penalty orders passed by the Assessing Officer. 16. We, however, leave the parties without any costs.

1310

2010 (2) TMI 689 - MADRAS HIGH COURT

SA Bhimaraja Versus The Commissioner of Income Tax-IV,

Appeal to High court - The impugned notice, dated 30.12.2009, issued by the second respondent a sum of Rs.1,15,71,391/- has been demanded as the Incom.....

.......... r of Income Tax (Appeals VI), Chennai, to dispose of the appeal filed by the petitioner, on 20.01.2010, challenging the order of assessment and the demand for the assessment year, 2007-2008, and to pass appropriate orders thereon, on merits and in accordance with law, within a period of eight weeks, from the date of receipt of a copy of this order. Subject to the condition that the petitioner shall pay 1/3rd of the total amount demanded by the second respondent, by his impugned notice of demand, dated 30.12.2009, before the second respondent, within a period of two weeks, from the date of receipt of a copy of this order. If the petitioner does not comply with the direction of this Court to pay 1/3rd of the amount demanded by way of the impugned notice, dated 30.12.2009, it would be open to the respondent to initiate appropriate action against the petitioner, as per law. 4. The writ petition is disposed of. No costs. Consequently, connected miscellaneous petitions are closed.

1311

2010 (2) TMI 730 - ITAT, Mumbai

SK. Finance Versus DCIT

Capital gain or business income - assessee was asked to state the reasons as to why short term capital gains should not be treated as trading income f.....

.......... ance of disallowance of Rs.2,513/- u/s.14A of the Act. 22. At the time of hearing the ld. Counsel for the assessee submits that he does not want to press the above ground which was not objected to by the ld. DR. 23. That being so, and in the absence of any supporting material, the ground taken by the assessee is therefore, rejected being not pressed. 24. Ground No.5 is against the levy of interest u/s.234A, 234B, 234C and 234D. 25. At the time of hearing the ld. Counsel for the assessee submits that consequential relief in this regard be allowed to the assessee which was to objected to by the ld. DR. 26. That being so, and in the absence of any supporting material, we are of the view that the levy of above interest is mandatory. However, the AO is directed to allow consequential relief to the assessee. The ground taken by the assessee is, therefore, partly allowed. 27. In the result, the assessee s appeal stands partly allowed. Order pronounced in the open court on 4.2.2010.

1312

2010 (2) TMI 156 - HIGH COURT OF PUNJAB AND HARYANA

Commissioner of Central Excise Versus Vahoo Colour Lab.

Photography service- The assessee was engaged in rendering service relatable to photography, i.e. developing and printing. In processing of photograph.....

.......... process, to provide the service to the recipient. The photography films, printing papers, chemicals and envelopes are the integral and essential ingredients to complete the process of photography. Meaning thereby, the components of sale of photography, developing and printing etc. are clearly distinct and discernible than that of photography service. Therefore, we are of the view that as the photography is in the nature of works contract and it involves the elements of both sale and service, therefore, the service tax is not leviable on the sale portion, in the obtaining circumstances of the case. 14. No other point, worth consideration, has been urged or pressed by the learned counsel for the appellant. 15. In the light of the aforesaid reasons, as no other infirmity has been pointed by the learned counsel for the appellant, therefore, the impugned order of the Tribunal is hereby maintained. Consequently, the instant appeals are hereby dismissed, with no order as to costs.

1313

2010 (2) TMI 959 - PUNJAB AND HARYANA HIGH COURT

The Commissioner of Income Tax Versus M/s Nuchem Ltd.

Claim of deduction of the PF and ESI in respect of employees

.......... in the case of Allied Motors (P) Ltd v. CIT (1997) 224 ITR 677 where scheme of Section 43 B of the Act was examined, their Lordships of Hon ble the Supreme Court concluded that Finance Act 2003 was to operate retrospectivly w.e.f. 1.4.1988 when the 1st proviso was inserted despite the fact that Parliament has stated explicitly that Finance Act was to operate w.e.f. 1.4.2004. Likewise reliance has been placed on another judgement of the Hon ble Supreme Court rendered in the case of CIT v J.H. Gotla (1985) 156 ITR 323. It was for the aforesaid reason that the Hon ble Supreme Court has held that Finance Act of 2003 is curative in nature. It has also been held that the Act is retrospective and it would operate w.e.f. 1.4.1988. Once the aforesaid position is clear then no question of law framed by the Revenue requires to be adjudicated. The order of the Tribunal is consistent with the view taken by the Hon ble Supreme Court. Accordingly the appeal fails and the same is dismissed.

1314

2010 (2) TMI 942 - Karnataka High Court

Smt. Jyoti Kumari Versus Assistant Commissioner of Income-tax

Block assessment - Unexplained, undisclosed investment - held that:- a finding recorded by the Tribunal assuming it to be on a fact by the Tribunal to.....

.......... tions holding that they do not warrant separate answers on the facts and cir- cumstances of this case. 169. In the result, this appeal is allowed in part to the extent indicated above. 170. In the peculiar circumstance of the case and in view of the mixed fortune for the Revenue, we leave the parties to bear their respective costs, though we were inclined to mulct the assessees with proportionate cost for the unduly long time these appeals engaged our attention. 171. Before parting with, we would like to place on record our appreciation of the quality assistance rendered by Sri M. V. Sheshachala, learned senior standing counsel for the Revenue and Sri A Shankar, learned counsel for the assessees, who have, with great patience, equipment and thorough study taken us through the nuances of all aspects not only of the provi- sions of Order XLI, rule 21 of the Code of Civil Procedure but also the provisions of Chapter XIV-B of the Act, which is reflected in our judgment as above.

1315

2010 (2) TMI 939 - KARNATAKA HIGH COURT

Smt. Jyothi Kumari Versus Assistant Commissioner of Income-tax (Inv) Circle - 2

Appeal before high court - filing of cross objection - maintainability of cross objections - Application of code of civil procedure - second round of .....

.......... nd therefore we ignore these two questions holding that they do not warrant separate answers on the facts and circumstances of this case. 169. In the result, this appeal is allowed in part to the extent indicated above. 170. In the peculiar circumstance of the case and in view of the mixed fortune for the revenue, we leave the parties to bear their respective costs, though we were inclined to mulct the assessees with proportionate cost for the unduly long time these appeals engaged our attention 171. Before parting with, we would like to place on record our appreciation of the quality assistance rendered by Sri M V Sheshachala, learned senior standing counsel for the revenue and Sri A Shankar, learned counsel for the assessees, who have, with great patience, equipment and thorough study taken as through the nuances of all aspects not only of the provisions or Order XLI Rule 21 CPC but also the provisions of Chapter XIVB of the Act, which is reflected in our judgment as above.

 
 
 
 
 
 

 

what is new what is new

UpdatesKnowledge SharingSubscription CommunicationNewslettersMore Options


Quick Links: | Acts and Rules | Notifications | Circulars | Schedules | Tariff | Forms | Case Laws | Manuals |
| Home | About us | Contact us | Feed Back | Disclaimer | Terms of Use | Privacy Policy | Members | |
Go to Mobile Website Go To Top
© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.