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Case Laws
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Income Tax - Case Laws

Showing 1 to 20 of 87701 Records

  • 2016 (8) TMI 871 - ITAT MUMBAI

    The ACIT, Cent. Cir-29, Mumbai Versus M/s. Vijaydeep Hotels Pvt. Ltd. and Vica-Versa and Shri Karanveer Singh G. Bawa Versus The ACIT, Cent. Cir-29, Mumbai

    Addition of expenditure with regard to unaccounted sales from Avalon Pub though no evidence of these expenses were produced by the assessee - CIT(A) allowed claim - Held that - CIT(A) considering the submissions of the assessee and the seized documen... ... ...

  • 2016 (8) TMI 870 - ITAT CHENNAI

    The Income Tax Officer Versus Shri. Govind Kumar Chordia

    Unexplained investments - non furnishing on clarifications on the Balance loan amount - Held that - Authorised Representative drew our attention to the certificate dated 19.02.2010 issued by the Karnataka Bank Ltd that ₹ 40,29,328/- was receive... ... ...

  • 2016 (8) TMI 869 - ITAT DELHI

    Dy. Commissioner of Income Tax, Circle 11 (1) , New Delhi Versus M/s Fabindia Overseas (P) Ltd. and Vica-Versa

    Disallowance of the entire purchase - CIT(A) sustaining the disallowance made by TPO and treatment of purchase consideration for trademark as NIL - Held that - It is not necessary for the assessee to show that any legitimate expenditure incurred by h... ... ...

  • 2016 (8) TMI 868 - ITAT JAIPUR

    Assistant Commissioner of Income Tax Versus Ganga Singh, Prop. M/s Vrindavan Construction And Vice-Versa

    Reopening of assessment - non deduction of tds - Held that - The original assessment was completed U/s 143(3) of the Act on 13/12/2007. Notice U/s 148 of the Act was issued on 25/3/2011 for A.Y. 2005-06, which is after four years from the end of the ... ... ...

  • 2016 (8) TMI 867 - ITAT MUMBAI

    DCIT (TDS) -2 (1) , Mumbai Versus Laqshya Media Pvt Ltd

    TDS u/s 194A - loan processing fees - non deduction of TDS - Held that - The first payment is on account of loan processing fees paid to the Nationalized Bank. This fee is charged by the bank for, processing the application filed by the borrower and ... ... ...

  • 2016 (8) TMI 866 - ITAT VISAKHAPATNAM

    DCIT, Central Circle, Vijayawada Versus Dhanekula Rama Rao And Vice-Versa

    Computation of interest u/s 234B and adjustment of seized cash towards tax liability - Adjustment of seized cash towards the tax liability aroused on account of filing of revised returns u/s 153A - Held that - Charging of interest without adjusting t... ... ...

  • 2016 (8) TMI 865 - ITAT DELHI

    Society for Participatory Research in Asia Versus Income Tax Officer (E) , Trust Ward-III, New Delhi

    Denial of exemption claimed under section 11 & 12 - as the assessee society does not fall within the scope of charitable purpose defined in section 2(15) of the Act and therefore, benefit of section 11 and 12 of the Act was not allowed to the app... ... ...

  • 2016 (8) TMI 864 - ITAT MUMBAI

    Mrs. Piedade Perinchery Versus ACIT, CC-18&19, Mumbai And Shri Samson Perinchery Paul Versus ACIT, CC-18 & 19, Mumbai and Vice-Versa

    Penalty levied u/s 271AAA - income of the assessee treated as Unaccounted investment - Held that - Since the penalty u/s 271AAA has been levied on identical set of facts in both the cases, we prefer to dispose both the appeals instead of sending the ... ... ...

  • 2016 (8) TMI 863 - ITAT DELHI

    Samtel India Ltd. Versus ACIT, Circle 7 (1) , New Delhi

    Penalty under section 271(1)(c) - write off of capital work in progress - Held that - Assessee has duly disclosed the fact of write off of capital work in progress in the audited financial statements by way of a note and hence, there cannot be any al... ... ...

  • 2016 (8) TMI 862 - ITAT KOLKATA

    Dr. B.G. Memorial Trust Versus Commissioner Of Income-Tax (Exemption)

    Continuance of registration under section 12A denied - as per revenue the activities of the assessee were not genuine - Held that - From the statement of Shri Dinesh Kumar Agarwal of M/s. Quadeye Securities Pvt. Ltd. it appears that there is prima fa... ... ...

  • 2016 (8) TMI 861 - ITAT PUNE

    The Asst. Commissioner of Income Tax, Circle 7, Pune Versus Yutaka Auto Parts Pune Pvt. Ltd.

    Transfer pricing adjustment - exclusion of ANG Industries Ltd. from final list of comparables while benchmarking the international transaction undertaken by the assessee - Held that - The assessee was a manufacturer of auto components. However, ANG I... ... ...

  • 2016 (8) TMI 860 - ITAT MUMBAI

    Peepul Tree Properties P. Ltd. Versus Asst. CIT 5 (1) , Mumbai

    Disallowance of loan processing charges and pre-payment charges paid to the bank - whether prepayment charges and processing fee shall form part of the word interest as used in section 24(b) of the Act? - Held that - As far as the prepayment charges ... ... ...

  • 2016 (8) TMI 859 - ITAT DELHI

    GE Capital Services India Versus Assistant Commissioner of Income-Tax

    Penalty u/s 271(1)(c) - Held that - In the case of K. C. Builders v. Asst. CIT 2004 (1) TMI 7 - SUPREME Court which has authoritatively laid down that where the additions made in the assessment order on the basis of which penalty for concealment was ... ... ...

  • 2016 (8) TMI 858 - ITAT DELHI

    Sushila Sharma Versus Income-Tax Officer

    Penalty u/s 271B - threshold limit for getting its account audited u/s 44AB - Business activity or professional activity - receipts from the pathological laboratory have to be considered as business receipts - Held that - Without first holding that t... ... ...

  • 2016 (8) TMI 857 - ITAT KOLKATA

    I.T.O., Ward-56 (1) , Kolkata Versus M/s. Transport Development Corporation, Kolkata

    Truck running expenses disallowed - Held that - We find that the truck running expenses claimed in this AY is commensurate with the turn-over of the assessee compared to A.Y.2010-11 and 2011- 12. The truck running expenses from A.Y.2007-08 to 2011-12... ... ...

  • 2016 (8) TMI 856 - ITAT PUNE

    GKN Sinter Metals Pvt. Ltd. Versus Asstt. Commissioner of Income Tax, Circle – 9, Pune

    Transfer pricing adjustment - upward adjustment of the international transactions in respect of valuation of capital asset purchased from AE - Held that - TPO has made upward adjustment of the international transactions in respect of valuation of cap... ... ...

  • 2016 (8) TMI 855 - ITAT KOLKATA

    DPSC Ltd. Versus Deputy Commissioner of Income-Tax

    Applicability of Section 115JB - assessee is an electricity company Held that - In view of the legislative change brought about by the introduction of Explanation 3 in section115JB of the Act by the Finance Act, 2012, the assessee s conten tion in fa... ... ...

  • 2016 (8) TMI 854 - ITAT DELHI

    The I.T.O, Ward – 6 (1) , New Delhi Versus M/s Mahajan Industries P. Ltd.

    Income from sale of property - business income or capital income - Held that - In the absence of any facts indicating that the assessee has converted capital asset into stock in trade during the relevant A.Y or during some any other earlier financial... ... ...

  • 2016 (8) TMI 853 - ITAT MUMBAI

    Kamala Brothers Versus ITO 24 (2) (1) , C-13 Bandra Kurla, Complex, Bandra (E) , Mumbai and Vica-Versa and Kamala Brothers Versus ITO 24 (2) (1) , Mumbai and Via-Versa

    Lease rent estimation - Determination of the value as assessed by Stamp Valuation Officer - Held that - It is clear that full value of consideration of the impugned asset has been determined at ₹ 3,22,334/- based upon value as was assessed by t... ... ...

  • 2016 (8) TMI 851 - GUJARAT HIGH COURT


    Levy of tax on the whole of the lottery income - other beneficiaries of Neha Trust have paid taxes on their respective share of income from the said lottery prize in their individual capacity - Held that - In our view, not accepting the trust deed an... ... ...

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