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Showing 1 to 15 of 66580 Records

    2014 (7) TMI 1039 - ITAT AHMEDABAD

    Shri Umesh Krishnani Prop. M/s. Swami Enterprises Versus Income-tax Officer

    Levy of penalty u/s 271(1)(c) Addition u/s 68 on disallowance of interest expenses and unexplained cash credit Held that:- Assessment proceedings and penalty proceedings are separate and distinct and the finding in the assessment proceedings cann ......

    2014 (7) TMI 1038 - ITAT AHMEDABAD

    The ACIT (OSD-1, Range-4, Ahmedabad Versus Lippy System Ltd.

    Disallowance out of interest expenses Business funds diverted to non-business purposes Held that:- Assessee was having interest free funds in the form of Share Capital and Reserves aggregating to ₹ 10.79 crores and the advance for purchase ......

    2014 (7) TMI 1037 - ITAT DELHI

    M/s. Sportking India Ltd. Versus JCIT, Circle-9(1), New Delhi

    Reopening of assessment u/s 147 r.w section 148 Computation of book profit u/s 115JB Held that:- The assessee returned an income which was accepted u/s 143(3) subsequently notice u/s 148 was issued on 31.03.2011 after recording of reasons wherein ......

    2014 (7) TMI 1036 - ITAT MUMBAI


    Claim of exemption u/s 80IA Infrastructure development of port Held that:- So far the income from sale of water is concerned, it had been earned by the assessee for supply of water to cargo ships for their engine cleaning and other miscellaneous ......

    2014 (7) TMI 1035 - ITAT AGRA

    Deputy Commissioner of Income Tax Versus Kalyani Chaturvedi

    Assessment u/s 153A Unexplained expenses Held that:- The AO has challenged the order of the CIT(A) only on the jurisdictional issues whereas the relief is granted by the CIT(A) on merits as well - the scope of reassessment is only with regard to ......

    2014 (7) TMI 1034 - ITAT COCHIN


    Jurisdiction u/s 263 Claim of set off of loss - Held that:- AO has not discussed anything about the set off of loss claimed by the assessee and the difference in TDS certificate - When the order of the AO is appealable before the CIT(A) and subject ......

    2014 (7) TMI 1033 - ITAT LUCKNOW


    Rejection of application for registration u/s 12AA Held that:- The assessee has furnished copy of Indian Trust Act, 1882 also but he did not point out any relevant provision of this Indian Trust Act, 1882 to establish that this Act is applicable on ......

    2014 (7) TMI 1032 - ITAT MUMBAI

    Harish Voovaya Shetty, Sujata Refreshments Versus The ITO 18(2), Mumbai.

    Penalty u/s 271(1)(c) Inaccurate particulars furnished Valuation as per section 50C Held that:- Where addition is made on account of application of section 50C and Revenue failed to produce any evidence to the effect that assessee has actually ......

    2014 (7) TMI 1031 - ITAT AHMEDABAD

    The Assistant Commissioner of Income-Tax Versus M/s. R. Vipul & Co.

    Restriction of Labour charges Held that:- A reasonable rate should have been applied by CIT(A) - it would be fair and reasonable to allow labour charges as claimed by the assessee - the short comings of the assessee shall also be addressed - an ave ......

    2014 (7) TMI 1030 - ITAT AHMEDABAD

    Bharat V. Patel Versus Assistant Commissioner Income Tax

    Undisclosed payment to land owners Proper appreciation of facts and evidences not made - Held that:- The main contention of the assessee was that SNOA wanted to develop a housing scheme for which land was purchased from several land owners - About ......

    2014 (7) TMI 1029 - ITAT AHMEDABAD

    Assistant Commissioner of Income Tax Versus Shri Bhavinkumar M. Dagli

    Penalty u/s 271(1)(c) Disclosure of additional income - Held that:- the assessee voluntarily disclosed additional income during the course of assessment proceedings and paid tax - it cannot be said that additional income disclosed during the cours ......

    2014 (7) TMI 1028 - ITAT DELHI


    Rejection of books of accounts Held that:- The shareholders of the company appointed new auditors who submitted audit report on 01.09.2009 and the assessment was completed on 31.12.2010 without considering the same - it is mandatory to file return ......

    2014 (7) TMI 1005 - ALLAHABAD HIGH COURT

    M/s. Phoenix Lamps India Ltd. Versus Commissioner of Income Tax

    Interest earned on Short term deposits Security for obtaining letters of credit Nature of expenses Capital receipt or not - Whether the interest earned on the short term deposits (FDRs) made for the purpose of providing security for obtaining t ......

    2014 (7) TMI 1004 - ALLAHABAD HIGH COURT

    Uttar Pradesh Carbon and Chemicals Ltd. Versus Tax Recovery Officer-VI, Kanpur And Others

    Notice u/s 226(3) Amount due from garnishee as tax arrears Held that:- The Tax Recovery Officer had issued a notice dated 17.3.2008 treating the assessee to be an assessee in default on account of non-payment of the amount as per the notice u/s 2 ......

    2014 (7) TMI 1003 - DELHI HIGH COURT

    Commissioner of Income Tax-IV Versus Hotz Industries Ltd.

    Revision u/s 263 - Disallowance u/s 14A Held that:- Without pronouncing whether the figures given by the assessee were incorrect, the Commissioner recorded that this required verification from the records - This is impermissible and cannot be allow ......

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