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Income Tax Case Laws


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Showing 1 to 15 of 66881 Records

    2014 (8) TMI 876 - ALLAHABAD HIGH COURT

    The Commissioner of Income Tax Versus M/s. RS. Associates

    Revision of order u/s 263 – order erroneous in so far as prejudicial to the interest of revenue - Tribunal decided in favor of assessee - Held that:- The assessee has shown availability of cash, but the same was never found - The explanation given b ......

    2014 (8) TMI 875 - ITAT LUCKNOW

    M/s. Allahadad Tannery Versus Jt. CIT-I, Kanpur

    Deduction u/s 80IB - Export incentives - Interest paid in Jajmau unit – Held that:- As decided in assessee’s own case for the earlier assessment year, it has been held that the assessment by a higher authority may be possible even if the proceedings ......

    2014 (8) TMI 874 - ITAT AHMEDABAD

    The DCIT, Anand, Circle, Anand Versus M/s. Amin Machinery Pvt. Ltd.

    Addition of bogus purchases - bills and delivery challans conclusively not proved the transactions – Held that:- CIT(A) has given a finding that the shortage has been worked out by the AO on the basis of various assumptions - on one hand AO has taxed ......

    2014 (8) TMI 873 - ITAT AHMEDABAD

    Shri Narayanbhai S. Patel Versus Income Tax Officer

    Penalty u/s 271(1)(c) - Undisclosed bank accounts – Addition of peak credit – Held that:- The six bank accounts with reference to which addition was made by the AO were not disclosed by the assessee in its return of income - The source of deposit in ......

    2014 (8) TMI 872 - ITAT MUMBAI


    Levy of penalty u/s 271D/E – Violation of provisions of section 269SS - Adjustments through journal entries - Business of land development and construction of real estate properties - Limitation of time – Time barred penalty order us/ 271(1)(c) - Hel ......

    2014 (8) TMI 871 - ITAT HYDERABAD

    C3i Support Services P. Ltd. Versus ACIT, Circle 1(2) Hyderabad

    Transfer pricing adjustment - Selection of comparables – Held that:- Although a detail submission was made on behalf of the assessee before the CIT(A) on the basis of FAR analysis to show that the selection of Ms. Vimta Labs as comparable is not Just ......

    2014 (8) TMI 870 - ITAT HYDERABAD

    M/s. Sumtotal Systems India Versus Assistant Commissioner of Income-tax

    Transfer pricing adjustment – selection of comparables – Functionally different company - enormity of turnover – employee cost filter – Segmental turnover - Held that:- The company cannot be considered as comparable to the assessee due to various fac ......

    2014 (8) TMI 869 - ITAT KOLKATA

    Ambo Agro Products Ltd. Versus Deputy Commissioner of Income-tax

    Damages for Breach of Contract considered as Speculation Loss – Transaction treated as speculative transaction u/s 43(5) - Held that:- Settlement of disputes allowing damages is termed as washed out contracts in international market - the orders for ......

    2014 (8) TMI 868 - ITAT MUMBAI

    Joint Commissioner of Income-tax Versus Kiara Jewellery (P.) Ltd.

    Transfer pricing adjustment – Adjustment of capacity utilization - Held that:- Although the factors might have contributed to the loss of the assessee company, it could not be arrived at with any degree of certainty that the transfer price of the int ......

    2014 (8) TMI 867 - ITAT DELHI

    Deputy Commissioner of Income-tax Versus Birla Soft India Ltd.

    Deduction u/s 10A for GE-GDC STP Unit – setting of new unit or expansion of existing unit - Held that:- even if a new unit was established by the assessee company as expansion of its existing unit, substantial fresh capital having been invested in th ......

    2014 (8) TMI 866 - ITAT LUCKNOW


    Deemed dividend u/s 2(22)(e) – Closely held company or not - substantial interest - nature of transaction, loan or otherwise – Held that:- The assessee was holding 15% shares in SFL besides being one of the directors of the company - the assessee has ......

    2014 (8) TMI 865 - ITAT PUNE

    Addl. CIT, Range-6, Pune Versus Serum Institute of India Ltd.,

    Reopening of assessment u/s 147 –Change of opinion - Period of limitation - Realization of export proceeds and of processing charges – Computation of deduction u/s 10B – Held that:- The reasons are totally silent with regard to any failure on the par ......

    2014 (8) TMI 864 - ITAT DELHI


    Reopening of assessment u/s 147 – Held that:- In the absence of any earlier assessment by assessing officer u/s 143(3) it cannot be held that assessing officer exercised any opinion on the facts of the case as the return of the assessee was simply pr ......

    2014 (8) TMI 863 - ITAT PANAJI

    Pentair Water India (P.) Ltd. Versus Additional Commissioner of Income-tax

    Transfer pricing adjustments - Adjustment in the operating margin of CDR unit – Held that:- The TPO has computed the profit margin of the CDR unit, which was rendering the services not only to the associated concerns outside India but also to the oth ......

    2014 (8) TMI 862 - ITAT HYDERABAD

    Indu Fine Lands (P.) Ltd. Versus Commissioner of Income-tax

    Jurisdiction of CIT u/s 263 - revision - erroneous order - nature of receipt of compensation - revenue or capital receipt – Held that:- The scheme of the IT Act is to levy and collect tax in accordance with the provisions of the Act and this task is ......

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