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Income Tax Case Laws


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Showing 1 to 15 of 66594 Records

    2014 (7) TMI 1086 - BOMBAY HIGH COURT

    Dy. Commissioner of Income Tax Versus Timblo Pvt. Ltd. Through MD

    Deduction u/s 80HHC - Business profits Computation - 90% reduction of gross hire charges or net hire charges as per Explanation (baa) to section 80HHC – Held that:- Following the decision in ACG Associated Capsules Pvt. Ltd. V/s. Commissioner of Inco ......

    2014 (7) TMI 1085 - BOMBAY HIGH COURT

    The Commissioner of Income Tax Versus Dr. Prafulla R. Hede And Another

    Compensation paid as afforestation charges claimed as deduction – Held that:- The Tribunal rightly concluded that the payment is towards the loss of forestry on the forest land that has been diverted and no forest asset for the assessee is created by ......

    2014 (7) TMI 1084 - BOMBAY HIGH COURT

    Divyakant C. Mehta Versus The Income Tax Officer 11(2) (2) & Anr.

    Claim of deduction on expenses incurred for education of daughter – Daughter joined assessees firm and went abroad for higher education - Held that:- Assessee has not been able to bring on record anything and particularly the scheme so as to provide ......

    2014 (7) TMI 1067 - ITAT AHMEDABAD

    Shri Pankaj A Shah Versus The ITO, Ward-1, Baroda

    Addition u/s 40(a)(i) r.w section 195 - Commission paid to non-resident – Held that:- As per Circular No. 786 dated 07.02.2000 for non deduction of TDS, the Assessee was not required to deduct TDS u/s. 195 with regard to payment of commission to fore ......

    2014 (7) TMI 1066 - ITAT CUTTACK


    Cryptic order passed by CIT(A) - Interest expenses disallowed u/s 40(a)(ia) – Failure to deduct TDS u/s 194I - Business of software and hardware development projects from USA - CIT(A) has not considered the three ingredients of section 68 of the Act, ......

    2014 (7) TMI 1065 - ITAT AHMEDABAD

    The ACIT, Circle-4, Ahmedabad Versus Heavy Metal and Tubes Ltd.

    Additional depreciation on windmill – Held that:- Assessee has installed a Windmill during the year - CIT(A) while deciding the issue has given a finding that the Assessee is already engaged in the business of manufacturing of production of Pipes and ......

    2014 (7) TMI 1064 - ITAT AHMEDABAD

    Demac Technologies Pvt. Ltd. Versus The ACIT Circle 1(1), Baroda

    Confirmation of partial penalty u/s 271(1)(c) – Concealment of particulars - Suppressed work in progress – Late payment of PF – Held that:- The assessee had disclosed the material facts before the AO and CIT(A) - When the assessee has made a particul ......

    2014 (7) TMI 1063 - ITAT AHMEDABAD

    The ITO Ward-4(2), Ahmedabad Versus Karnavati Engineering Ltd.

    Claim of bad debts - Held that:- CIT(A) was rightly of the view that the Chartered Accountant has given a certificate mentioning that all the bad debts written off are relating to trade of the Company and income referring to those has been offered fo ......

    2014 (7) TMI 1062 - ITAT AHMEDABAD

    Dy. CIT, Circle-5, Ahmedabad Versus Nandan Exim Ltd.

    Interest expenses u/s 14A – Held that:- As decided in assessee’s own case for the earlier assessment year, it has been held that the Assessee was having sufficient interest free funds and therefore there was no justification for presuming that any pa ......

    2014 (7) TMI 1061 - ITAT AHMEDABAD

    DCIT, Circle-1(1), Baroda Versus Amar Quarry Pvt. Ltd.

    Reopening of assessment u/s 147 – Change of opinion – Held that:- The assessee has furnished the details of the sub-contractor expenses and “work expenses” which had included the payment made to sub-contractors - the basic information was very much a ......

    2014 (7) TMI 1060 - ITAT MUMBAI

    DCIT 18(3), Mumbai Versus M/s. Vijay Sales

    Accrual of income – Commission received - Year in which taxable - Credit notes were generated in later year - Held that:- The amount received by the assessee was not normal business discount- it was sales-performance based incentives given by the sup ......

    2014 (7) TMI 1059 - ITAT MUMBAI

    Nalin V. Shah Versus Asst. CIT, Circle-4(2), Mumbai

    Disallowance u/s 14A – Held that:- There is no direct correspondence between the incurring of an expenditure and the earning of income there-from including as to its time – Relying upon CIT vs. Rajendra Prasad Moody [1978 (10) TMI 133 - SUPREME Court ......

    2014 (7) TMI 1058 - ITAT AHMEDABAD

    Dy. Commissioner of Income-tax Versus New Umiya Vijay Saw Mill

    Claim of partner’s salary u/s 40(b) against income disclosed during survey – Held that:- The contention of the assessee is accepted that if statement of the partner at the time of survey was to be relied for making this addition/disallowance, the st ......

    2014 (7) TMI 1057 - ITAT MUMBAI

    ITO WD-22(2) (3), Mumbai Versus M/s. Mumbai Teleworkers Coop. Credit Society Ltd.

    Allowability of deduction u/s 80P – Held that:- As per CBDT Circular No. 133 of 2007 dated 9.5.2007 - Sub-section(4) of section 80P will not apply to an assessee which is not a co-operative bank - If the intention of the legislature was not to grant ......

    2014 (7) TMI 1056 - ITAT MUMBAI

    SI Group –India Limited, (Formerly Known as Schenectady Heredillia Limited) Versus The JCIT (OSD), Mumbai

    Penalty u/s 271(1)(c) – Inaccurate particulars furnished – Held that:- So far as it relates to levy of concealment penalty on a sum of ₹ 11,75,175/-, no concealment penalty is leviable - CIT(A) has held that since there was no taxable income or ......

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