2015 (3) TMI 156 - DELHI HIGH COURT
Commissioner of Income Tax Versus Nishi Mehra, Arun Mehra, Sushil Mehra, Subhash Mehra, Surbhi Mehra, Manju Mehra
Scope, power and jurisdiction of AO in block assessment proceedings and the term “undisclosed income - AO concluded a comparison between declared value and the value determined by the DVO disclosed serious discrepancy and added the difference and bro ......
2015 (3) TMI 149 - ITAT MUMBAI
M/s. Auro Gold Jewellery P. Ltd. Versus Asst. CIT Central Cir. -33 & DCIT Central Circle-33 Versus. M/s. Auro Gold Jewellery P. Ltd.,
Unaccounted purchases of gold bars and unexplained cash - AO formed the view from the excel sheets found during the course of search that the gold bars and cash shown in the blocks in the excel sheets, was the sale consideration received in exchange ......
2015 (3) TMI 101 - GUJARAT HIGH COURT
Commissioner of Income Tax, Valsad Versus Sushilaben Ambelal Prajapati
Unexplained cash deposits in the assessee’s bank account - ITAT deleted the addition - Held that:- the amount lying in the respective account as per the assessee was in fiduciary capacity to be utilized for buying policy of the respective vehicle. No ......
2015 (3) TMI 50 - ITAT DELHI
General Copy House Versus ACIT, Circle 29(1), Delhi
Addition to income u/s 69A - documents recovered from the premises of M/s Gian Chand Ramji Das during the course of search conducted - FAA uphold the addition of ₹ 318602/- out of the total addition of ₹ 368602/- and his given the relief ......
2015 (2) TMI 1037 - DELHI HIGH COURT
Commissioner of Income Tax-VI Versus Wellworth Construction Udyog Ltd.
Addition u/s 68 - ITAT confirming the order of the CIT (Appeals) who had reversed the AO's decision to disallow share application money of ₹ 1.65 crores under Section 68 - Held that:- AO’s suspicions formed the basis of including the amount ......
2015 (2) TMI 946 - ITAT DELHI
Narain Singh C/o. Rajiv Saxena & Co. (Advocate & Solicitors) Versus ACIT Circle-36(1), New Delhi
Unexplained investment - block assessment - addition of ₹ 11 lacs on unexplained investment in Himmatpur land u/s 69 - assessee relying on the ancestral “Bahi” for explaining the cash payment of ₹ 11 lakhs to Kulanand Bhartiyaya on differ ......
2015 (2) TMI 943 - ITAT MUMBAI
Shri Aslam Chand Khan Versus Income Tax Officer-24
Unexplained money - sale of plots - Held that:- From the record we found that during the course of survey, the assessee was found to be in receipt of “on money” in respect of sale of industrial plot of land. On the basis of seized material, the A.O. ......
2015 (2) TMI 898 - ITAT MUMBAI
DCIT, Cen. Cir-39, Mumbai Versus M/s. Pathik Constructions
Undeclared income - CIT(A) directing AO to give credit of admitted undeclared income of ₹ 3,41,90,000/-(3,05,00,000/- + 36,90,000/-) shown in the return of income filed when the assessing officer has given due credit for the same while computin ......
2015 (2) TMI 894 - ITAT LUCKNOW
Dy. CIT. Range-IV Lucknow. Versus M/s Scooters India Limited
Additional deduction u/s 35(2AB) disallowed - no inhouse scientific research has been carried out by the appellant - Held that:- Merely getting approval from ARAI and purchasing certain material from the market cannot be said to be carrying out in-ho ......
2015 (2) TMI 636 - PUNJAB & HARYANA HIGH COURT
Navdeep Dhingra Versus Commissioner of Income Tax, Karnal
Additional income declared by Director on behalf of company - survey under Section 133(A) - Whether admissions made during a survey can form the sole basis for making additions? - Whether retracted admissions can form the basis of an inference enabli ......
2015 (2) TMI 590 - DELHI HIGH COURT
COMMISSIONER OF INCOME TAX-XIV Versus VIVEK AGGARWAL
Undisclosed salary - income on account of a document seized during the search proceedings - ITAT deleted the addition - Held that:- Since the document seized was both undated and unsigned and even taken at face value did not lead to further enquiry o ......
2015 (2) TMI 543 - DELHI HIGH COURT
CIT-XI Versus ZOHRA EMPORIUM
Unrecorded purchases - ITAT confirmed deletion of addition done by CIT(A) - Held that:- Both the authorities were guided by the peculiar nature of the transactions involved where the assessee purchased raw and semi-finished products and thereafter se ......
2015 (2) TMI 456 - PUNJAB & HARYANA HIGH COURT
Commissioner of Income Tax (Central), Ludhiana Versus Smt. Bimla Rani
Eligibility for deduction u/s 80 IB (2) (iv) - as per revenue basic conditions for claiming the deduction is that the industrial undertaking employs ten or more workers in the manufacturing process and that the same does not include the Manager or Su ......
2015 (2) TMI 443 - ITAT HYDERABAD
Dy. Commissioner of Incometax, Circle 2(1), Hyderabad Versus Shri C. Venkateswara Rao, Hyderabad
Deduction u/s. 24(b) - Interest on second loan claimed as deduction from house property income - Held that:- As observed that the claim of the assessee for deduction on account of interest under S.24(b) was allowed by the learned CIT(A) relying on th ......
2015 (2) TMI 403 - ITAT HYDERABAD
Sri Y. Siddaiah Naidu, Tirupathi Versus Asst. Commissioner of Income-tax, Central Circle, Tirupathi and Asst. Commissioner of Income-tax, Tirupathi Versus Sri Y. Siddaiah Naidu
Unexplained credit - addition to income - for AY 2004-05 - Held that:- As can be seen, in the sworn affidavit dt. 18/02/2011, the creditor Shri L. Giri Babu has stated that the amount of ₹ 1.00 lakh was advanced to assessee through cheque No. 6 ......