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Income Tax Case Laws - Section: 145A


Income Tax

Cases for Section: 145A
Showing 1 to 15 of 170 Records


M/s. Arjundas Rajkumar And Others Versus Commissioner of Income-tax, Hyderabad

Existence of partnership firm - Nature of the firm and legal consequences flowing from it - Intention to carry on business - Whether the firm was only a nominal entity - Held that:- The firm is brought into existence through a registered document and ......

2014 (7) TMI 426 - ITAT MUMBAI

CEAT Limited Versus Add. CIT, Range 6(2), Mumbai

Foreign Travel Expenses - Expenditure incurred for non-business purpose Held that:- On hearing both the parties and on perusal of the relevant material, it would be reasonable to remand the issue to the file of the AO to examine the same and to tak ......

2014 (7) TMI 342 - ITAT AHMEDABAD

M/s. Priyanka Developers Pvt. Ltd. Versus DCIT, Circle-1, Surat

Reopening of assessment u/s 147/148 of the Act - Valuation of closing stock u/s 145A of the Act - Unutilized CENVAT credit Held that:- No evidence of reversal before Excise Authority has been filed even during the Appellate proceedings - there has ......

2014 (7) TMI 331 - ITAT AHMEDABAD

The ITO., Ward-2(3), Bhavnagar Versus M/s. Ganga Industries

Valuation of closing stock - Addition of unutilized CENVAT credit Contravention to Sec. 145A of the Act - Method of accounting Held that:- CIT(A) while granting partial relief to Assessee has noted that Assessee was following inclusive method of ......

2014 (7) TMI 210 - ITAT MUMBAI

M/s. Vandana Global Limited Versus ADCIT, Range-4(3), Mumbai

Valuation of purchases and sales of goods and inventory Increase in value of closing stock Balance under CENVAT account added - Held that:- The decision in COMMISSIONER OF INCOME-TAX Versus MAHALAXMI GLASS WORKS P. LTD. [2009 (4) TMI 182 - BOMBAY ......

2014 (6) TMI 743 - ITAT AHMEDABAD

The ACIT, (OSD) -1, Circle-4, Ahmedabad Versus Jagdish Aluminium Pvt. Ltd.

Valuation of closing stock - unutilized CENVAT credit Provisions of section 145A of the Act not properly appreciated Held that:- CIT(A) while deleting the addition has given a finding that Assessee was following exclusive method of excise duty an ......

2014 (6) TMI 567 - ITAT DELHI

ITO, Ward 24(3), New Delhi Versus Shibani Rastogi

Additions on account of difference between the purchase and cost of sales - Facts properly not appreciated Held that:- CIT(A) was rightly of the view that the AO having failed to point out any quantitative discrepancy in the sales and purchases or ......

2014 (6) TMI 561 - ITAT MUMBAI

Asstt. Commissioner of Income Tax Versus M/s. Schwabe Incoat

Valuation of stock - Deletion of Excise duty/modvat credit Invocation of section 145A of the Act Held that:- When the assessee is following exclusive method of accounting for the valuation of purchase and sale of goods as well as inventory, the f ......

2014 (6) TMI 349 - ITAT AHMEDABAD

ACIT, CC-1(1), Ahmedabad Versus Gujarat Ambuja Exports Ltd.

Unutilized CENVAT credit balance A.O. has treated it as revenue receipt - Held that:- Following CIT Vs Unique Industries [2008 (5) TMI 238 - GUJARAT HIGH COURT] - The assessee treated it as an advance payment of excise duty paid on purchases of ......


Commissioner of Income Tax, Kol-II Versus M/s. Trade Apartments Ltd.

Valuation of share - Block transferred from investment to stock in trade - Whether the valuation of the shares of Off-Shore India Limited made on 1st April, 2003 when the block was transferred from investment to stock-in-trade was justified in law ......

2014 (5) TMI 618 - ITAT CHENNAI

The Assistant Commissioner of Income Tax Versus M/s. BL Steels

Method of valuation of closing stock FIFO Held that:- It has been decided in the case of the assessee for the earlier assessment year, that the assessee has been following consistent method of valuation of closing stock the method adopted has b ......

2014 (5) TMI 476 - ITAT DELHI

DCIT, Circle-2 (1), New Delhi Versus Bharti Airtel Services Ltd. Formerly known as Bharti Comtel

Deletion made on account of provision for diminution in the value of closing stock Held that:- The AO had made the addition in view of the fact that assessee had claimed an amount in the P&L A/c as provisions for diminution in valuing of stock wher ......

2014 (5) TMI 470 - ITAT AHMEDABAD

M/s. Oswal Chemicals, Ahmedabad Versus Additional Commissioner of Income Tax

Valuation of closing stock Addition of proportionate transport charges Whether freight expenses incurred on account of purchases were to be included in the value of closing stock or not - Held that:- Following Hero Motocorp Limited vs. ACIT [2013 ......

2014 (5) TMI 267 - ITAT AHMEDABAD

The DCIT, Circle1(1), Baroda Versus Gandevikar Jewellers Pvt. Ltd.

Deletion made - Undervaluation of closing stock Held that:- The assessee has valued the stock at -weighted average cost in the current year and the same method was followed by assessee in earlier years and it was accepted by the Department while fi ......

2014 (5) TMI 148 - DELHI HIGH COURT

Commissioner of Income Tax-VI Versus M/s. Tupperware India Pvt. Ltd.

Deletion of disallowance of provision for obsolete stock Compliance of the method of valuation u/s 145A of the Act - Held that:- The Tribunal was rightly of the view that the assessee is continuously following the policy of valuation of closing sto ......

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