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Income Tax Case Laws - Section: 145


Income Tax

Cases for Section: 145
Showing 1 to 15 of 1610 Records


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 ......


Commissioner of Income Tax, Jodhpur Versus M/s. Jain Construction Company Barmer

Deduction on sales tax payment – Application of net profit rate without estimation of income – Held that:- While making the assessment of income on the basis of net profit rate, the deductions towards depreciation, interest, remuneration to partners ......

2014 (8) TMI 164 - ITAT HYDERABAD

Sri B. Seenaiah, Hyderabad Versus Dy. Commissioner of Income-tax

Assessment of accrued interest on investment – Held that:- It was advanced towards share application money and the promissory notes were obtained only as a safety measure since company has not allotted shares to the assessee - if the amount advanced ......

2014 (8) TMI 67 - ITAT LUCKNOW

Prakash Chand Sharma Prop. of M/s. Prakash Box Factory Versus DCIT-VI, Kanpur

Unaccounted job work charges – Addition on impounded bill books – Held that:- The assessee could not place any evidence to co-relate that the entire job work charges shown were duly recorded in its books of account – there was no infirmity in the ord ......

2014 (8) TMI 66 - ITAT LUCKNOW

M/s Dee Control & Electric Pvt. Ltd. Versus ACIT-6 Kanpur

Penalty u/s 271 – Rejection of books of accounts and estimated net profit – Held that:- The books of account of the assessee were rejected by the AO have invoked the provisions of section 145 of the Act after noting discrepancy in the maintenance of ......

2014 (8) TMI 60 - ITAT AHMEDABAD

The ITO Ward-1(4), Surat Versus M/s. Paras Builders Pvt. Ltd.

Land development charges and related expenses u/s 37(1) – Failure to produce books of accounts and documentary evidences – Held that:- CIT(A) has given a very cryptic finding by stating that during the year GP margin has been shown at 0.95% as agains ......

2014 (7) TMI 1060 - ITAT MUMBAI

DCIT 18(3), Mumbai Versus M/s. Vijay Sales

Accrual of income – Commission received - Year in which taxable - Credit notes were generated in later year - Held that:- The amount received by the assessee was not normal business discount- it was sales-performance based incentives given by the sup ......

2014 (7) TMI 1054 - ITAT MUMBAI

Mrs. Pratima H. Mehta Versus Asstt. Commissioner of Income Tax

Rejection of books of accounts - Principles of natural justice – Held that:- The matter should go back to the file of the AO to pass a fresh order, for rejecting the books of account, the AO has not given any valid reasons as no specific defect has b ......

2014 (7) TMI 1028 - ITAT DELHI


Rejection of books of accounts – Held that:- The shareholders of the company appointed new auditors who submitted audit report on 01.09.2009 and the assessment was completed on 31.12.2010 without considering the same - it is mandatory to file return ......

2014 (7) TMI 987 - ITAT AHMEDABAD


Accrual of income / cash system of accounting - difference between income booked and as per TDS certificate - Suppression receipt – Held that:- CIT(A) was rightly of the view that it has been certified by the tax auditors that the assessee was having ......

2014 (7) TMI 963 - ITAT LUCKNOW

M/s. Alliance Nirmaan Limited Versus Addl. CIT., 253, Bareilly

Application of section 145(3) – Correctness and completeness of accounts – Held that:- CIT(A) rightly was of the view that as per the observation of the AO in the assessment order, it is noted that no specific defect was detected by the AO in the boo ......

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