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Income Tax Case Laws - Section: 145

 

Income Tax


Cases for Section: 145
 
Showing 1 to 15 of 1620 Records
 

2014 (9) TMI 92 - GUJARAT HIGH COURT

Commissioner of Income Tax-I Versus Sarwankumar Sharma

Estimation of income @ 8% of total turnover - Entire deposits in bank account treated as total turnover - Undisclosed business of trading in art silk cloth – Onus to prove the source of credit entries on revenue or not - Whether the Tribunal was just ......

2014 (9) TMI 57 - ALLAHABAD HIGH COURT

The Commissioner of Income Tax And Another Versus M/s. Target Construction Co. Ltd.

Net profits estimated @ 5% against 10% - Account books not furnished – Held that:- The Tribunal observed that the assessee has received the construction work from the government department and assessee has not done any private work during the assessm ......

2014 (9) TMI 2 - ANDHRA PRADESH HIGH COURT

Sri Y. Rathiesh Versus The Commissioner of Income Tax-I

Claiming TDS credit whereas interest income was not recognized following cash basis of accounting - accrual of income – Held that:- By adopting the cash system for this component of his returns, the appellant did not pay any tax on the interest payab ......

2014 (8) TMI 900 - BOMBAY HIGH COURT

M/s. Mafatlal Industries Ltd. Versus Commissioner of Income Tax

Accrual of expenditure - interest liability on excise duty - interest for the period 1.4.82 to 31.3.83 payable pursuant to the Gujarat High Court order dated 6.4.1984 – Held that:- Contingent liabilities do not constitute expenditure and cannot be th ......

2014 (8) TMI 827 - ITAT ALLAHABAD

Kesarwani Zarda Bhandar Versus JCIT., Central Circle, Allahabad

Validity of assessments u/s 153A – Held that:- For the AYs 2004-05 to 2007-08, the assessee has already filed returns of income within time before the search - assessee produced books of account and relevant details before the AO, which is evident fr ......

2014 (8) TMI 807 - ITAT MUMBAI

DCIT 25(3), 308, C-11, Mumbai Versus Shri Rajeev G. Kalathil

Non-genuine purchases – Documentary evidences ignored – Supplier declared as hawala dealer – Held that:- AO had made the addition as one of the suppliers was declared a hawala dealer by the VAT Department - it was a good starting point for making fur ......

2014 (8) TMI 795 - ITAT AHMEDABAD

Income Tax Officer Versus Hasmukhbhai Khodidas Patel

Accrual of income - Sale consideration treated as undisclosed income - Civil construction business - Whether the real income has been offered for taxation by the assessee or not – agriculture land was purchased - pending NA clearance, land was plotte ......

2014 (8) TMI 720 - ITAT PUNE

M/s. Viraj Steels Versus Addl. CIT, Range-5, Pune

Rejection of books of accounts u/s 145(3) – Estimation of GP @ 8% - Held that:- Despite given an opportunity by the AO, the assessee failed to substantiate as to why the same gross profit ratio should not be adopted in its case - CIT(A) was not justi ......

2014 (8) TMI 718 - ITAT AHMEDABAD

Shri Iqbal Abbas Shaikh Versus Deputy Commissioner of Income Tax

Addition of cash settlement of bills – Mercantile system followed - Held that:- as the system of accounting followed by the assessee is mercantile, in our considered view the lower authorities were justified in taxing the balance amount of ₹ 35 ......

2014 (8) TMI 604 - MADRAS HIGH COURT

The Commissioner of Income Tax-II Versus City Union Bank Limited (Central Office)

Accrual of income - Interest on securities to be assessed on half yearly due dates – Interest accrued at the end of assessment year – Claim of Bad debts to non-rural branches u/s 36(1)(viia) - Following the decision in Commissioner of Income Tax v. C ......

2014 (8) TMI 491 - ALLAHABAD HIGH COURT

The Commissioner of Income Tax And Another Versus M/s. PNC. Construction Company Ltd.

Estimation of appeal - Rejection of books of accounts u/s 145(3) – Held that:- The net profit rate has already shown at the rate 3.25% which appears reasonable, which is higher in comparison to the previous and subsequent assessment years - during th ......

2014 (8) TMI 389 - DELHI HIGH COURT

Commissioner of Income Tax, V Versus Punjab National Bank

Revaluation of securities - Reduction in closing stock on loss – Held that:- Securities held by the assessee-bank are the stock-in-trade of the business of the assessee-banks and the notional loss suffered on account of the revaluation of the said se ......

2014 (8) TMI 240 - ITAT HYDERABAD

Grandeur Homes P. Ltd. Versus ACIT, Circle 2(3), Hyderabad

Estimation of income at 8% on the advances received – Held that:- There was determination of total income under the normal computation before allowing deduction - Other income was brought to tax separately - It could not be understood as to how on th ......

2014 (8) TMI 239 - ITAT MUMBAI

ACIT Circle – 12(3), Mumbai Versus M/s. Industrial Plant & Waste Treatment Corporation

Revenue recognition - Method of accounting – Mismatch between purchases and reflection in stock - Assessee neither followed neither mercantile system nor cash system of accounting – Held that:- As decided in assessee’s own case, it has been held that ......

2014 (8) TMI 169 - BOMBAY HIGH COURT

ICICI Securities Limited Versus The Asstt. Commissioner of Income Tax And Others

Interest income from sale of securities - Accrual of interest income received as a transferor for Hindustan Steel - Held that:- It was as far as back as on 2 January 2001 that the petitioner had made an application to the CBDT seeking condonation of ......

 
   
 
 
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