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Income Tax Case Laws


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Showing 1 to 15 of 66510 Records

    2014 (7) TMI 873 - PUNJAB & HARYANA HIGH COURT

    Commissioner of Income Tax-I, Chandigarh Versus Shri Rana Ranjit Singh

    Agriculture income - Bogus capital formation through shares - Rule 7 of the Income Tax Rules, 1962 – Held that:- Following Commissioner of Income Tax-I, Chandigarh Versus Rana Gurjit Singh [2011 (2) TMI 241 - PUNJAB AND HARYANA HIGH COURT] - Calculat ......

    2014 (7) TMI 872 - BOMBAY HIGH COURT

    Commissioner of Income Tax (Large Tax Payer Unit) Versus M/s. Lubrizol India Ltd.

    Deduction u/s 80I – Income from expansion of dispersion unit – Held that:- Unless the deduction is withdrawn or rejected in the initial assessment years, it cannot be withdrawn in the subsequent AYs – Following the decision in Commissioner Of Income- ......

    2014 (7) TMI 871 - DELHI HIGH COURT

    Commissioner of Income Tax Versus Rachna Agarwal

    Unexplained investment – Valuation of property – Held that:- The assessee did not cooperate would not absolve the AO from adopting some methodology in arriving at the market value which according to him had not been disclosed by the assessee - The ta ......

    2014 (7) TMI 870 - BOMBAY HIGH COURT

    The Commissioner of Income Tax Versus M/s. Reliance Industries Ltd.

    Deduction u/s 80HHC – Computation of income u/s 115JB – Rectification of order u/s 154 - Tribunal rightly directed to compute the deduction u/s 80HHC for the purpose of determining book profit u/s 115JA only with reference to profit as per the accoun ......

    2014 (7) TMI 869 - ITAT MUMBAI

    Tara Educational and Charitable Trust Versus Director of Income Tax (Exemptions)

    Rejection of application u/s 12AA – Dissolution clause not included in Trust deed - Held that:- The scope of enquiry contemplated u/s 12AA of the Act thus is limited to the extent of Commissioner getting himself satisfied about object of the Trust an ......

    2014 (7) TMI 868 - ITAT MUMBAI

    SK. Sajdeh & Sons Pvt. Ltd. Versus Income Tax Officer

    Valuation of stock and trading addition u/s 145 - Held that:- The basic contention raised before the CIT(A) that the books of account regularly maintained by the assessee and duly audited by the auditors were not rejected by the AO by pointing out an ......

    2014 (7) TMI 867 - ITAT AGRA

    Raj Kumari Agarwal Versus Deputy Commissioner of Income Tax Circle 2, Agra

    Genuineness of sales consideration of land sold – Price lesser than circle rate as per section 50C – Held that:- The assessee has specifically objected to the adoption of stamp duty valuation rate - mere fact that the assessee has not challenged the ......

    2014 (7) TMI 866 - ITAT MUMBAI

    Boskalis International- Dredging International CV Versus Dy. Director of Income tax-3(2) International Taxation, Mumbai

    Transfer pricing adjustment – Determination of lease rentals u/s 92C r.w. Rule 10A - Whether the lease rental paid by the assessee to its AE in respect of various dredging equipments taken on lease can be recorded as closely linked or continuous tran ......

    2014 (7) TMI 865 - ITAT KOLKATA

    ITO., Ward-5(2), Kolkata Versus M/s. Polar Industries Ltd.

    Interest payment – Genuineness of claim not established – Held that:- CIT(A) has mentioned the matter set out in the letter - nowhere in the order of the CIT(A) mentioned that the CIT(A) has made any factual verification of the contents - if the AO h ......

    2014 (7) TMI 864 - ITAT LUCKNOW

    Income Tax Officer Versus M/s. Guru Teg Bahadur Auto Enterprises

    Unexplained capital contribution by partners – Held that:- Regarding this claim of gift, it is noted by CIT(A) that Smt. Leelawati Senani is not income-tax assessee and she is neither having any PAN and nor she could explain the source of giving gift ......

    2014 (7) TMI 863 - ITAT DELHI

    ITO. Ward 11(1), New Delhi Versus M/s. Emperor International Ltd.

    Addition u/s 68 and 69 – Genuineness of claim – Held that:- The assessee has as well filed the documents before the authorities below in support of the claim - These are copies of acknowledge of return of income along with computation, audited balanc ......

    2014 (7) TMI 862 - ITAT MUMBAI

    DCIT –Circle-3(3), Mumbai Versus M/s. Shah Spinners Pvt. Ltd.

    Depreciation on property – Business activity not carried out during year – Held that:- CIT(A) was perfectly justified in holding that the Assessee is entitled to depreciation as well as deduction towards expenditure - the assessee has made a specific ......

    2014 (7) TMI 861 - ITAT MUMBAI

    Manohar Manak Alloys P. Ltd. DC. Bothra & Co. Chartered Accountants Versus ACIT 4(2), Mumbai

    Proportionate interest disallowed – Interest free loans and advances given to sister concern - Held that:- The assessee has taken a plea that the total interest free funds available to the assessee company are sufficient to make the interest free adv ......

    2014 (7) TMI 860 - ITAT MUMBAI

    Ms. Geeta Prabhudas Pawani Versus Income Tax Officer

    Quantum appeal set aside - Penalty u/s 271(1)(c) - Liquidated damages not declared – Held that:- The Tribunal in earlier assessment year held that liquidated damages had not accrued to the assessee - assessee contended that the addition no longer sub ......

    2014 (7) TMI 859 - ITAT CHENNAI

    Shri AR. Murugadoss Versus Asst. Commissioner of Income Tax

    Dis-allowance of expenditure – Depreciation of motor-car, mobile phone and computers as personal in nature to the extent of 25% - Held that:- The assessee had already filed returns of the income for the AYs - at the time of search, the assessee had a ......

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