2014 (3) TMI 321 - ITAT MUMBAI
Shri Atul Barot Versus The DCIT Central Circle 23, Mumbai
Validity of assessment made u/s 153A of the Act – No incriminating material found during the search action u/s 132 of the Act – Held that:- The decision in The ACIT Cent. Cir. 33, Mumbai Versus Shri Jayendra P. Jhaveri [2014 (2) TMI 1131 - ITAT MUMBA ......
2014 (3) TMI 217 - KERALA HIGH COURT
M/s. Sunny Jacob Jewellers & Wedding Centre Chandhamukku Versus Deputy Commissioner of Income Tax
Materials detected during search – Basis of Best judgement assessment - Whether the Tribunal gone wrong in not considering the aspect as to whether materials detected in a search conducted u/s 132 of the Act in the business premises of another assess ......
2014 (3) TMI 176 - ITAT HYDERABAD
Smt. P. Pavani, Nellore And Others Versus Asst. Commissioner of Income-tax And Others
Estimation of profit @ 16% - Rate of profit charged high and excessive - Held that:- CIT(A) was of the view that the income has to be determined by estimation only - The CIT(A) has also accepted additional turnover as business receipts – the assessee ......
2014 (3) TMI 173 - ITAT HYDERABAD
Y. Jithin Kumar, Hyderabad Versus The DCIT, Circle 2(1), Hyderabad
Valuation of Property - Determination of market value of marble slabs – Validity of assessment order passed by the A.O. u/s 143(3) r.w section 153A and 254 of the Act – Held that:- The Valuation Officer has not sent the comments and the order was get ......
2014 (2) TMI 1131 - ITAT MUMBAI
The ACIT Cent. Cir. 33, Mumbai Versus Shri Jayendra P. Jhaveri
Estimation of net profit - Whether the action of the CIT(A) in directing the AO to rework the net profit of the assessee at the lower rate of 0.14% as against the 0.99% estimated by the AO is correct – Held that:- Powers of the AO to re-open an asses ......
2014 (2) TMI 980 - ITAT DELHI
ACIT Cen. Cir. -IX, New Delhi Versus Shri Manoj Narain Aggarwal
Additions made u/s 143(3)/153A of the Act – Block assessment - Admission of additional evidence under Rule 46A(3) – Held that:- The revenue wants to adopt an unfair course for ascertaining the tax liability, firstly by making an arbitrary and untenab ......
2014 (2) TMI 944 - ITAT PUNE
M/s. Malpani Estates Versus Asstt. Commissioner of Income Tax
Nature of Income – Whether the income falls under any of the heads of income as described u/s 14 of the I.T. Act – Held that:- The income is nothing but unaccounted money received by the assessee from customers on account of sale of flats of its hous ......
2014 (2) TMI 937 - ITAT MUMBAI
Nikki Agarwal Versus ACIT-Central Circle-32, Mumbai
Validity of additions of Completed Assessement – Sustainability of Assessment u/s 153A r/w 143(3) of the Act – Held that:- The decision in Shri Govind Agarwal vs. ACIT [2014 (2) TMI 810 - ITAT MUMBAI] and Jai Steel (India) vs. ACIT [2013 (6) TMI 161 ......
2014 (2) TMI 731 - ITAT MUMBAI
Gurinder Singh Bawa Versus Deputy Commissioner of Income-tax
Legality of Addition made u/s 153A of the Act – Held that:- The assessment had been processed under section 143(1) and no notice under section 143(2) had been issued - The decision in Alcargo Global Logistics Ltd. v. Dy. CIT [2012 (7) TMI 222 - ITAT ......
2014 (2) TMI 514 - ITAT COCHIN
Shri A. Abdul Salam M/s AS. Cashew Exporters Versus Dy. CIT, Cent. Cir. Kollam
Addition made u/s 43B of the Act - Assessee has not furnished any explanation to the proposal - Held that:- The assessing officer found that the sales were shown as net of trade discount - the assessee debited an amount in the profit & loss account a ......
2014 (2) TMI 507 - ITAT AHMEDABAD
Chittusinh M. Chauhan Versus Assistant Commissioner of Income Tax
Undisclosed sales and purchase - Search made u/s 132 of the Act – Incriminating documents found during search – Held that:- The CIT(A) was reasonable as also justified in granting the part relief to the assessee - The reasons assigned is evident that ......
2014 (2) TMI 260 - ITAT DELHI
DCIT, Central Circle-18, New Delhi Versus Flex International Pvt. Ltd.
Annulment of assessment u/s 153C of the Act – Interpretation of section 153A/153C of the Act - Assessment of income of any other person – Held that:- The documents recovered during the search and seizure operation were not discussed by the Assessing ......
2014 (2) TMI 227 - ITAT MUMBAI
Nirmala C. Thumar Versus Dy. CIT, Central Circle-39
Disallowance of interest expenditure on unsecured loans – Held that:- The condition for s. 57(iii), as income would arise only where the borrowing is at a lower rate, and which fact is known in advance - not only is the interest on the loan/s given l ......
2014 (2) TMI 29 - GUJARAT HIGH COURT
Commissioner of Income Tax II Versus Ramesh D. Patel
Validity of assessment u/s 153A - Held that:- The Tribunal came to a factual finding that no search authorization was produced - This was necessary because the Assessing Officer had made contradictory references to the assessee being subjected to sea ......
2014 (1) TMI 1242 - ITAT AHMEDABAD
ASSTT COMMISSIONER OF INCOME TAX Versus BHARAT J RAO
Validity of notice u/s 153C r.w.s. 153A - Held that:- the AO must be satisfied that documents, money bullion etc belonged to other person and on being recording satisfaction the case record/seized material is required to be forwarded to the AO of suc ......