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Income Tax Case Laws


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Showing 1 to 15 of 68070 Records

    2014 (11) TMI 773 - ITAT MUMBAI

    Classic Commercial Services Pvt. Ltd., Besto Farms Pvt. Ltd. Versus Income Tax Officer

    Assessment of gains on sale of agricultural land - Whether the CIT(A) was justified in confirming the assessment of gain arising on sale of agricultural land as “business Profit” by rejecting the claim of the assessees that the same is not liable for ......

    2014 (11) TMI 772 - ITAT MUMBAI

    ACIT, Large Tax payer Unit, Mumbai Versus M/s Sterlite Technologies Ltd.

    ESOP expenses disallowed – Held that:- The CIT(A) rightly observed that the ESOP expenses represented the option discount, that is, the excess of the market price of the share on the date of grant of the option under ESOP 2006 over the exercise price ......

    2014 (11) TMI 771 - ITAT MUMBAI

    Hinduja Ventures Limited Versus Dy. Commissioner of Income Tax

    Disallowance u/s 14A r.w Rule 8D on interest expenses - Held that:- Neither the AO nor CIT(A) has taken any step to verify the claim of the assessee that its own fund was sufficient for making the investment - once the assessee has claimed that his o ......

    2014 (11) TMI 770 - ITAT AHMEDABAD

    ACIT, Circle-4, Ahmedabad Versus GHCL Ltd.

    Reduction of 90% of interest under Explanation (baa) to Section 80HHC - Netting off of interest expenses have nexus between interest income or not – Held that:- The word is receipt and not income accordingly while computing deduction u/s 80HHC 90% of ......

    2014 (11) TMI 769 - ITAT HYDERABAD

    DCIT, Circle 1(1) Hyderabad Versus M/s. AVRA Laboratories P. Ltd.

    Expenses incurred on contract research u/s 35(1)(iv) – revenue was of the view that such expenditure would facilitate the business of a third party and not that of the assessee – Held that:- Assessee is involved in R & D activities and has employed i ......

    2014 (11) TMI 768 - ITAT HYDERABAD

    M/s. Visu International Limited, Hyderabad Versus Dy. Commissioner of Income-tax

    Belated payment of contributions towards EPF and ESI deleted – Held that:- Following the decision in CIT V/s. Ghatge Patil Transport Ltd. [2014 (10) TMI 402 - BOMBAY HIGH COURT] wherein after taking into consideration the provisions of S.2(24)(x) rea ......

    2014 (11) TMI 767 - ITAT HYDERABAD

    Income Tax Officer Versus Shri Attaur Rahman, Warangal

    Deletion of unexplained expenses – Held that:- The amount withdrawn by the assessee from his bank account cannot be treated as his income merely because the same was not recorded in the books of account – it cannot be treated as unexplained expenditu ......

    2014 (11) TMI 766 - ITAT KOLKATA

    Deputy Commissioner of Income-tax Versus Anubhav Infrastructure Ltd., Silver Point Infratech Ltd.

    Estimation of rate of NP @ 4% of gross contractual receipt or @ 8% - Held that:- The assessee company is a sub-contractor to execute the civil construction works awarded by the principals, which is a small part of the projects executed by the princip ......

    2014 (11) TMI 765 - ITAT KOLKATA

    Borneo Realship Ltd. Versus ITO., Ward-9(2), Kolkata

    Validity of reopening of assessment - Change of opinion - Whether the CIT(A) was justified in confirming the disallowance of expenditure upto 50% out of the total disallowance made by the AO on account of administrative expenses – Held that:- Reopeni ......

    2014 (11) TMI 764 - ITAT HYDERABAD

    Desaraju Ravi Shankar, Hyderabad Versus Income Tax Officer

    Rejection of explanation offered by assessee – Credits confirmed as appearing in bank account – Held that:- Assessee has genuinely explained the whole arrangement - assessee was also present in the court room and admitted that he has taken some benef ......

    2014 (11) TMI 763 - ITAT COCHIN

    Mangalam Publications (India) P. Ltd. Versus Dy. CIT, Cir. 1 Kottayam

    Reopening of assessment u/s 147 - Change of opinion - Held that:- Explanation 2(c)(iii) to section 147 of the Act clearly says that income chargeable to tax has escaped assessment where an assessment has been made but excess relief was granted under ......

    2014 (11) TMI 762 - ITAT DELHI

    ITO, Ward 2, Uttrakhand Versus Smt. Urmila Bhandari

    Rejection of deduction u/s 80IC(2) – Failure to obtain NOC from the pollution Control Board - Whether the AO can disallow the claim for deduction u/s 80IC for the asstt. Year 2009-10 and 2010-11 when the claim has not been disallowed or withdrawn in ......

    2014 (11) TMI 761 - ITAT MUMBAI

    Shri Janzeb Amirkamal Khan Versus Income Tax Officer/ACIT-13(3) (2), Mumbai

    Additions u/s 69A - Principles of natural justice – Opportunity of being heard provided to assessee or not - Service of notice - Held that:- The Tax Authorities have noticed cash deposits in the HDFC Bank Account, Crawford Market Branch, Mumbai and w ......

    2014 (11) TMI 760 - ITAT DELHI

    Raghupati Leasing & Finance Ltd. Versus ITO, Ward 15(1), New Delhi

    Addition u/s 68 - Multiple accounts in various branches – Unaccounted black money found by DIT(Inv.) –Whether undisclosed income actually represented disputed settlement amount recoverable from M/s Miraculas Construction P. Ltd. against the leasing c ......

    2014 (11) TMI 759 - ITAT AHMEDABAD

    Ausom International Pvt. Ltd. Versus Dy. Commissioner of Income tax

    Confirmation of disallowance u/s 14A – Decision relied overruled by subsequent decision - Held that:- The AO observed that the assessee has earned dividend income - The assessee has made investment of ₹ 200 lakhs on 31.03.2007 - The assessee is ......



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