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2015 (5) TMI 938 - DELHI HIGH COURT

Commissioner of Income Tax (C) -I Versus Shri Suresh Nanda

Treatment as a resident Indian - whether the period for which the assessee was in India involuntarily on account of his passport having been impounded is not to be counted for purposes of Section 6(1)(a) of the Income Tax Act so as to hold him entitl.....

2015 (5) TMI 937 - BOMBAY HIGH COURT

The Commissioner of Income Tax Versus K. Sera Sera Productions Ltd.

Revision u/s 263 - CIT was of the view that Assessing Officer erred in addition of alleged suppressed business profit aggregating to ₹ 11 crores - Assessing Officer erred in disallowing the alleged cost of production claimed - ITAT quashed revi.....


The Commissioner of Income Tax-I, Chandigarh Versus M/s DSM Anti Infectives India Ltd.

Transfer pricing adjustment - selection of M/s Torrent Gujarat Biotech Limited and M/s Standard Pharmaceuticals Limited as comparables as directed by ITAT - Held that - The issues that arise in this case do not raise a question of law much less a sub.....


Sri Damodarlal Badruka Versus The Income Tax Officer, Ward-I (4) , Hyderabad

Necessity of prior approval of Deputy Commissioner for issue of notice u/s 143(2) for re-making an assessment in pursuance to direction given by CIT u/s 263 - Held that - It is well settled that once an assessment is re-opened by virtue of the order .....

2015 (5) TMI 934 - BOMBAY HIGH COURT

ACC Limited Versus Deputy Commissioner of Income Tax And Others

Reopening of assessment - deductions under section 80IA(4) of the Income Tax Act, 1961 on the rail system - Held that - There is no order as yet passed by the Assessing Officer and in pursuance of the notice to reassess the income allegedly escaping .....


Vodafone South Ltd (Formerly Known As Vodafone South Essar Ltd) Versus The Deputy Commissioner of Income Tax, International Taxation And Others

Stay of demand - Non deduction of tds - treating assesse as assessee in default - stay of the tax and interest demanded rejected - Held that - It would suffice and meet ends of justice if the petitioner is put on terms and directed to pursue its grie.....

2015 (5) TMI 932 - ITAT DELHI

M/s Orange Business Services India Networks Pvt. Ltd., (Formerly known as Equant Network Services India Pvt. Ltd.) Versus DCIT, Circle-3, Gurgaon

TP Adjustments - Disregarding Profit Split Method ( PSM ) as the most appropriate method for benchmarking Appellant s international transactions - held that - The claim of the assessee that the issue is covered by the order of the Co-ordinate Bench i.....

2015 (5) TMI 931 - ITAT DELHI

Deputy Commissioner of Income Tax Circle-49 (1) , New Delhi Versus Artemis Medicare Service Ltd., Artemis Medicare Service Ltd Versus Deputy Commissioner of Income Tax Circle-49 (1) , New Delhi

Tds liability - assessee is a hospital and has doctors working in it by virtue of employment as well as certain agreement entered between - whether payment made by the assessee to the doctors is covered u/s 194J in respect of 3rd and 4th category of .....

2015 (5) TMI 930 - ITAT HYDERABAD

Addl. Commissioner of Income tax Central Range 3, Hyderabad Versus M/s. Hill County Properties Ltd.

Transfer pricing adjustment - DRP directing AO to delete the disallowance made on account of transfer pricing adjustment involving payment of share application money - Held that - This issue is squarely covered in favour of the assessee by the decisi.....

2015 (5) TMI 929 - ITAT AHMEDABAD

The Dy. CIT Central Circle-I, Surat And Others Versus M/s. Ohm Developers C/o. Asutosh P. Nanavaty, Nanavaty & Associates And Others

Undisclosed income - receipt of on money - addition on seized materials and as admitted by the working partner of the assessee firm - Held that - The undisputed facts emerged from the above discussion is that the assessee is engaged in the business o.....

2015 (5) TMI 928 - ITAT DELHI

DCIT, Circle 18 (1) , New Delhi And Others Versus M/s Utkal Investments Ltd And Others

Transaction in shares - treated as stock in trade treating it as a business income or investment so as to treat it as capital gain - Held that - It is a fact that assessee is showing these shares in its investment portfolio in the books of accounts. .....

2015 (5) TMI 927 - ITAT AHMEDABAD

ACIT, Vapi Circle, Vapi Versus Bilakhia Holdings Pvt Ltd

Penalty u/s 271(1)(c) - inaccurate particulars of income by the assessee relating to capital gains - CIT(A) deleted penalty levy - Held that - During the course of assessment, the Assessing Officer observed that the assessee has credited profits on s.....

2015 (5) TMI 926 - ITAT AHMEDABAD

DCIT Circle1 (1) , Baroda Versus Gujarat Energy Transmission Corpn. Ltd.

Disallowance of extra-ordinary items being loss due to cyclone, flood, fire, etc. - assessee could not substantiate that it had incurred expenditure on repairing its assets damaged due to flood - CIT(A) deleted the addition - Held that - It is seen t.....

2015 (5) TMI 925 - ITAT AHMEDABAD

ACIT, Cir. No. 8, Ahmedabad Versus Torrent Pvt. Ltd.

Disallowance under section 14A - CIT(A) deleted part disallowance - Held that - the disallowance of ₹ 5,00,000/- made by the AO was on ad hoc estimate basis, and the CIT(A) also sustained ₹ 50,000/- out of the same on ad hoc estimate basi.....

2015 (5) TMI 924 - ITAT PUNE

The Commissioner of Income Tax, Circle-1, Solapur Versus Arjun Co-Operative Bank Ltd

Interest on Non Performing Assets u/s.43D - CIT(A) deleted the addition - Held that - In view of the ratio laid down in ACIT Vs. Osmanabad Janta Sah. Bank Ltd. (2015 (3) TMI 886 - ITAT PUNE) and in ACIT vs. The Omerga Janta Sahakari Bank Ltd. (2014 (.....

2015 (5) TMI 923 - ITAT DELHI

Asstt. Commissioner of Income Tax Versus M/s. Arvindo Fabnoplast Pvt. Ltd.

Unexplained credits in the books of account u/s 68 - CIT(A) deleted the addition - Held that - AO denied opportunity of being heard for the assessee and the CIT(A) wrongly shifted onus on the revenue authorities and misunderstood the meaning of onus .....

2015 (5) TMI 922 - ITAT DELHI

Madhusudanlal Nanda Prop. Versus ITO, Ward 30 (1) , New Delhi

Receipt from demutualization of stock exchange - whether receipt did not constitute long term capital gain? - issue of notice U/S 143(2) beyond the period of 12 months - Held that - CIT(A) has dismissed this ground of appeal holding that the notice w.....

2015 (5) TMI 921 - ITAT MUMBAI

Mrs. Zarina Noorali Govani Versus ITO 19 (3) (3) , Mumbai

Unexplained money u/s.69 - Held that - We do not find any justification in the action of the AO for rejecting the cash memo merely on the plea that these were not signed/authenticated by the recipient of the goods. In case of retail trade, there is n.....

2015 (5) TMI 920 - ITAT DELHI

M/s. JCB India Ltd. Versus DCIT, Circle-13 (1) , New Delhi

Transfer pricing adjustment - international transaction of Royalty payment - Held that - The most of the key parts are registered in India, contribution of UK entity was considered to be minor as major part of designing of this India specific product.....

2015 (5) TMI 919 - ITAT HYDERABAD

IP India Foundation Versus Director of Income Tax (Exemptions) Hyderabad

Registration under section 12AA denied - rejection of application in Form 10A - Held that - It has been clearly established by various decisions that when the main object of the institution was charitable in nature , the activities carried out toward.....

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