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Income Tax Case Laws - Section: 145


Income Tax

Cases for Section: 145

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Showing 1 to 15 of 1670 Records

2014 (11) TMI 812 - GUJARAT HIGH COURT


Estimation of GP @ 12.5% or 1.03% - Whether the Tribunal was right in estimating the gross profit of 12.5% against the gross profit of 1.03% shown by the assessee without recording any cogent and convincing reasons in support – Held that:- The averag ......

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 725 - ITAT MUMBAI

Income Tax Officer, (International Taxation) -3(1), Versus Linklaters & Paines Mumbai

Permanent establishment - Whether the assessee had a permanent establishment in India or not – Held that:- Following the decision in Linklaters LLP Versus ITO (Int’l Taxation) [2010 (7) TMI 535 - ITAT, MUMBAI] - in a situation where specific provisio ......

2014 (11) TMI 723 - ITAT DELHI

ITO, Ward 4(1), New Delhi Versus Jaintex Apparels Pvt. Ltd.

Addition of unaccounted consignment sales – Income included in P&L account or not – Held that:- The assessee has been consistently following a particular method of accounting - Its accounts are audited u/s 44AB of the I.T. Act - Auditors have been co ......

2014 (11) TMI 648 - ITAT HYDERABAD

Mr. B. Purushotham Naidu, Hyderabad Versus The DCIT, Circle 3(3), Hyderabad

Various credits made – Held that:- Assessee has discharged his responsibility in proving ₹ 7,00,000 - assessee has received amount by way of cheques and the creditor Mr. V. Gopinath has confirmed that it was given out of his business income fro ......

2014 (11) TMI 647 - ITAT AHMEDABAD

M/s. Ambuja Oil Industries Versus Income Tax Officer

Addition of valuation of closing stock – Held that:- The AO observed that as per the tax audit report filed by the assessee under clause 12(a), the basis for valuation of closing stock was "market price" - for the purposes of valuation of closing sto ......

2014 (11) TMI 480 - MADRAS HIGH COURT

M/s. Integrated Finance Co. Ltd. Versus The Joint Commissioner of Income Tax

Method adopted for preparation of books of accounts – Difference in accounting method - EMI method to account the finance charges for the income tax purposes - hire purchase agreement - Held that:- Assessee relied on the decision of Commissioner of I ......

2014 (11) TMI 406 - ITAT HYDERABAD

Mohd. Akbar Hyderabad. Versus Income tax Officer

Estimation of GP - Whether the cash deposits made into bank account constitutes the income directly or it constitutes the trade receipts of the assessee, on which percentage of the profits needs to be estimated – Held that:- Assessee in course of ass ......

2014 (11) TMI 403 - ITAT MUMBAI

Shri Ashwin S. Mehta Versus DCIT, CC-23, Mumbai

Rejection of books of accounts – Principle of natural justice – Counsel of the assessee contended that the books of accounts are not properly examined – Reasons for rejection of books of accounts valid or not - Held that:- Following the decision in L ......

2014 (11) TMI 402 - ITAT LUCKNOW

ACIT Circle, Gonda Versus M/s. Satish Chandra Pandey Memorial Hospital Pvt. Ltd.

Unexplained investment from undisclosed/out of books income/receipts - Reference made to DVO – Held that:- The revenue should adopt some mode to educate their AO to act in accordance with law and whenever any judgment of the Hon’ble Apex Court is ren ......

2014 (11) TMI 399 - ITAT JAIPUR

The ITO. Ward 6(1), Jaipur Versus M/s. Hues India Pvt. Ltd.

Trading addition deleted on the ground of non-maintenance of stock register – Any defect in books of accounts or not – Held that:- The assessee’s business is for exporting of readymade garments - It requires various stages to produce finished product ......

2014 (11) TMI 398 - ITAT HYDERABAD

Mr. Ved Prakash Agarwal, Hyderabad Versus DCIT, CC. 2, Hyderabad

Adhoc disallowance of expenditure – Held that:- Assessee is able to furnish necessary purchases, sales details and books of accounts were not rejected - in the absence of any incriminating material, general disallowance of expenditure at 50% as was d ......

2014 (11) TMI 280 - ITAT DELHI

Shiv Shakti Rice Mills Versus ACIT, Karnal

Rejection of books of accounts u/s 145(3) – Valuation of closing stock of paddy basmati – Held that:- The assessee had given detailed reasoning before AO for adopting the market rate at ₹ 1841/- per qtl. in respect of valuation of paddy basmati ......

2014 (11) TMI 230 - ITAT BANGALORE

M/s. Mysore Minerals Ltd. Versus Deputy Commissioner of Income-tax

Re-computation of turnover - Confirmation of the part of sale price in excess of what is raised by the assessee in the Debit Note – Held that:- As decided in assessee’s own case for the earlier assessment year, it has been held that the Karnataka Lok ......


The Commissioner of Income Tax Versus The Karnataka Bank Ltd.

Effect of amendment to section 145 - Interest on broken period as interest not accrued – Scope of total income - Held that:- It is declared U/s.5 of the Act that when interest is accrued or deemed to have been accrued, it is liable to tax - The word ......



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