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Income Tax Case Laws - Section: 145


Income Tax

Cases for Section: 145
Showing 1 to 15 of 1643 Records


Commissioner of Income-tax, Central Circle Versus Jayesh S. Mehta

Estimation of GP @ 2% of average of subsequent three years - Whether the Tribunal was correct in holding that the net profit should be estimated at 2% of the turnover, as against computation of undisclosed income by the AO based on the deposits disco ......


M/s. Raghunandan Prasad Sarraf Versus Commissioner of Income Tax And Another

Addition on account of peak investment on sale outside the books – Held that:- The figures were mentioned as 74,000/- and 2,32,417/- against the dates of 9.4.1993 and 10.4.1993 represented figures in rupees and it cannot be taken as stock entry - Det ......


he Commissioner of Income Tax and The Asst. Commissioner of Income-Tax Versus M/s. Thumbay Holdings (P) Ltd.

Accrual of income – taxable assessment year 2000-2001 or 2003-04 - business of building construction and real estate - By virtue of the sale agreement the assessee became entitled to receive nomination fees - Project completion method - Held that:- ......

2014 (10) TMI 500 - ITAT DELHI

Chanan Devi, C/o Prop. NS. Enterprises Versus ACIT Circle Saharanpur

Addition on account of low GP – Application of GP @ 9.7% as against 12% - Held that:- The AO has not rejected the books of account but assessee in course of survey had surrendered the amount of ₹ 4,50,000/- to cover up the discrepancy in stock ......

2014 (10) TMI 490 - ITAT MUMBAI

Asstt. Commissioner of Income tax Versus Zenstar Impex

Provisional commission not ascertained – AO treated as contingent liability – Held that:- The assessee has been paying commission on a certain percentage to the agents on the exports sales made - the assessee has been paying commission @ 2% to 3% - F ......

2014 (10) TMI 487 - ITAT JODHPUR

Income Tax Officer Versus M/s. KPS. Construction

Reduction of net profits from 12% to 5.5% - Failure to produce books of accounts, bills and vouchers - Held that:- The assessee did not produce the bills and vouchers for verification before the AO - there was no other option except to estimate the i ......

2014 (10) TMI 430 - ITAT AHMEDABAD

The Income Tax Officer Versus M/s. Leora Jewellery

Non-speaking order by the CIT(A) - Rejection of books of accounts us 145(3) - Allowability of exemption u/s 10AA – Failure to establish the manufacturing of goods in SEZ or not - The assessee claimed exemption u/s. 10AA on the ground of income derive ......

2014 (10) TMI 420 - ITAT DELHI

Shivganesh Buildtech Pvt. Ltd. (Formerly Known As Buzz Estates Pvt. Ltd.) Versus Income Tax Officer

Addition on share capital – Shares issued to Shri Deepak Gupta – Unexplained cash credits – Held that:- The assessee has not given any details with regard to the share capital of ₹ 1 lakh, not even the name of the shareholder and the confirmati ......

2014 (10) TMI 322 - ITAT JODHPUR

ITO, Ward-1(1), Bikaner Versus Adhunik Khanan va Parivahan Theka Sahkari Samiti Ltd.

Accrual of income - Difference in gross receipts as per TDS certificates vis-ΰ-vis as per books of account – Held that:- There was a difference in the amount of payments as mentioned in TDS certificate of RSMM Ltd. and the receipts shown in the books ......

2014 (10) TMI 317 - ITAT JODHPUR

ACIT. Circle- I, Udaipur Versus Smt. Meena Singh Shekhawat L/h of Late Sh. Bhopal Singh Shekhawat Prop. M/s Shekhawat [India] Exports

Deduction u/s 80HHC - Business of mining and export of marble blocks - Reduction of 90% of export incentive – Held that:- CIT(A) has correctly allowed the claim of deduction u/s 80 HHC – following the decision in The Commissioner of Income Tax and ot ......

2014 (10) TMI 290 - ITAT HYDERABAD

M/s. Surabhi Shelters Pvt. Ltd. Versus The Asst. CIT Central Circle-1 Hyderabad

Determination of income from business – Estimation of Net profit @ 10% of WIP – Administrative and financial charges and depreciation disallowed - Held that:- The assessee has been estimating profit with reference to the advances received - The profi ......

2014 (10) TMI 289 - ITAT DELHI

DCIT, Circle 11 (1), New Delhi Versus M/s. Indian Sugar Exim Corporation Ltd.

Invocation of section 14A r.w Rule 8D – Held that:- The assessee has made investment to the tune of ₹ 2,18,16,75,912/-. It is claimed that ₹ 2,16,09,61,251/- was received from redemption of investments - The assessee’s claim that investme ......

2014 (10) TMI 214 - ITAT HYDERABAD

Dy. Commissioner of Income-tax Versus M/s. Malaprabha Greenfields Pvt. Ltd.

Accrual of interest - Chargeability of interest – uncertainty - Money given as advance - dispute between parties – Held that:- Following the decision in DEPUTY COMMISSIONER OF INCOME TAX Versus M/s MANASLU AGRO FARMS PVT LTD AND OTHERS [2014 (6) TMI ......

2014 (10) TMI 210 - ITAT PUNE

Addl. Commissioner of Income Tax, Range-1 and others Versus Pune Versus Bank of Maharashtra

Method of valuation of closing stock of securities - Loss on valuation of closing stock – Held that:- Assessee asserted that there was no double claim by pointing out that the yearend valuation has been arrived at after considering the reduced cost o ......

2014 (10) TMI 181 - ITAT LUCKNOW

Shri. Narendra Sharma Prop. Maa Kamakhya Darbar Fragrances Versus Dy. CIT-VI, Kanpur

Addition on suppressed sales - Difference between closing cash in hand – Held that:- During the course of survey operation, no hard copy of the books of account were found - The assessee has maintained the accounts in the computer and from the comput ......

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