2013 (11) TMI 728 - SUPREME COURT
Kathiroor Service Cooperative Bank Ltd. Versus Commissioner of Income Tax (CIB) & Others
Powers available to assessing officer under 133(6) of the Income tax act – Power of enquiry, when the cases are not pending - In the instant case, by the impugned notice the assessing authority sought for information in respect of its customers which ......
2013 (10) TMI 314 - GUJARAT HIGH COURT
COMMISSIONER OF INCOME TAX VI. Versus HEENA SHARMA.
Genuineness of gifts received from different sources - Respondent assessee had shown receipt of gifts to the tune of Rs. 65,75,272/- from 12 different persons received through 11 demand drafts issued on a single day i.e. on 21.3.2003. One of the gift ......
2013 (9) TMI 300 - ITAT AHMEDABAD
Pino Bisazza Glass Private Limited Versus Asstt. Commissioner of Income Tax (OSD)
Transfer pricing - ALP - Shifting of profit outside India - Associate Enterprise suffered losses - Held that:- entire Chapter X in I.T.Act is devoted to determine Arms Length Price in respect of a cross border transaction made by an Indian entity, wh ......
2013 (7) TMI 59 - ITAT DELHI
ACIT, Circle-25(1) Versus Vijay Kumar & Sons(HUF)
Unaccounted sales – Assessing Officer made addition to assessee’s income – CIT allowed deletion of amount – Held that:- Commissioner of Income Tax(A) took right approach to verify details submitted by assessee during assessment proceedings – Details ......
2013 (6) TMI 592 - ITAT DELHI
ACIT Circle -21 (1), New Delhi Versus Goodwill Exports
Low gross profit disclosed - un-explained income - CIT(A) deleted the addition - Held that:- During the course of hearing assessee was required to explain the discrepancy pointed by AO on the basis of month-wise analysis of sales and purchases furnis ......
2013 (5) TMI 589 - ITAT AMRITSAR
Sh. Pritpal Singh, Prop. M/s Milap Foundry Versus Income Tax Officer, Ward 3(3), Amritsar
Unaccounted purchase of plot - rejection of books of accounts - assessee pleaded that he had purchased a plot of land with funds provided by his second wife who gave him cash of Rs. 9 lakhs and her two brothers has also gifted him Rs. 4 lakhs on the ......
2013 (5) TMI 474 - ITAT MUMBAI
Rinkesh Nathmal Jain Versus ITO., Mumbai
Unexplained expenditure u/s.69C - Notices u/s.133(6) - Held that:- Clearly, if the goods stand transported as well as processed by third parties, with even duty having been paid on such processing, it cannot be said that no goods at all have been pur ......
2013 (5) TMI 274 - ITAT DELHI
ITO, New Delhi Versus M/s Guddu Electronics Pvt. Ltd.
Addition towards book value of share purchased - CIT(A) deleted the addition - case of assessee having been selected for scrutiny under CASS - Held that:- No justification for the AO to insist upon the valuation of the shares by the auditors of the ......
2013 (5) TMI 253 - ITAT KOLKATA
ACIT, Asansol Versus Sri Govind Prasad Khedwal
Unexplained cash credit - Lack of creditworthiness of Sundry Creditor - CIT(A) deleted addition - Held that:- CIT(A) rightly considered that non response of summons u/s 133(6) were not to be considered in the case of assessee, in so far as, the credi ......
2013 (4) TMI 289 - ALLAHABAD HIGH COURT
Commissioner of Income Tax-1 Versus M/S Arya Auto Financers, Etah
Additions u/s 68 - assessee respondent is a partnership firm - ITAT deleted the addition stating that Revenue Authorities failed to consider the assessee's request for calling for information u/s 133(6) or u/s 131 - Held that:- The Tribunal has not a ......
2013 (4) TMI 266 - ITAT DELHI
Cheil India Communications Private Limited Versus Deputy Commissioner of Income
Deemed income - difference between the receipts in the Profit and Loss account and the amount of receipt shown in the TDS certificates furnished by the payer of the income - assessee has pleaded that adequate opportunity was not given to the assessee ......
2013 (3) TMI 441 - BOMBAY HIGH COURT
M/s DB BANDODKAR & SONS PVT LTD Versus (1) ASSTT COMMISSIONER OF INCOME TAX(2) ADDITIONAL COMMISSIONER OF INCOME TAX
Unaccounted stock of 18869 Metric Tones (M.T) of ore - survey u/s 133(a) by DDIT(Inv) - application before ITAT for bringing additional evidence on record rejected as the relevant material was available with the assessing officer - Held that:- No sub ......
2013 (3) TMI 415 - MUMBAI TRIBUNAL COURT
Willis Processing Services (I) (P.) Ltd. Versus Deputy Commissioner of Income-tax 2(3), Mumbai
Deduction under section 10A disallowed - non computation of deduction u/s 10A in accordance with the provisions of sub-section (4) of section 10A - Held that:- In the case of the assessee, the CIT(A) has pointed out a new aspect to the issue for the ......
2013 (1) TMI 672 - ITAT BANGALORE
Trilogy E-Business Software India (P.) Ltd. Versus Deputy Commissioner of Income-tax. Circle 12(4). Bangalore
Transfer Pricing – Computation of Arm's Length Price - International transaction – Arm’s Length Price - Assessee provided software research & development support services to its Associated Enterprise - Remunerated on a 'cost plus' basis - assessee ad ......
2013 (1) TMI 573 - ALLAHABAD HIGH COURT
Smt. Sudesh Jain Prop. M/s Grow More Trading Co. Versus The Commissioner Of Income Tax-1 Agra & Another
Addition u/s 68 - rejecting the gift received by appellant - reopening of assessment - Held that:- As specific information was received that the loans/credit entries given by Ganga Ram Agarwal Group of Companies who were indulging in giving bogus ent ......