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Income Tax - Case Laws

Showing 1 to 20 of 87878 Records

  • 2016 (8) TMI 1096 - BOMBAY HIGH COURT

    The Commissioner of Income Tax-2 Mumbai Versus Knight Frank (India) Pvt. Ltd.

    Addition u/s 145A - inclusion of service tax as part of trading receipts - Tribunal deleted the addition - Held that - We do not find any ambiguity in Section 145A of the Act as arising for our consideration. However, even if one were to assume the m... ... ...


  • 2016 (8) TMI 1095 - ITAT MUMBAI

    M/s. Indogem Versus ITO-19 (1) (5) , Mumbai

    Sale of depreciable asset / office premises - acquisition of new building - Computation of WDV versus Addition u/s 50(1)(iii) - Did the assessee acquire the office building for a consideration in the relevant previous year for the purposes of Sec. 50... ... ...


  • 2016 (8) TMI 1094 - ITAT MUMBAI

    DCIT-5 (2) , Mumbai Versus Mahendra Brothers Exports P Ltd and Vica-Versa

    Addition u/s 14A - Held that - The investments which has not yielded dividend or tax free income during the year should only be included, no supporting decision has been placed before us by the ld. Counsel before us that only the investments which ha... ... ...


  • 2016 (8) TMI 1093 - ITAT MUMBAI

    ALD Automotive Pvt. Ltd. Versus Dy. CIT, Circle 3 (1) , Mumbai and Vica-Versa

    Claim for depreciation on the leased vehicles - Held that - The economic life of the vehicle depends also on its user, and that a period of five years, coupled with extensive user, may exhaust the life of a vehicle and, in any case, with reference to... ... ...


  • 2016 (8) TMI 1092 - ITAT CHENNAI

    Shri. R. Srinivasan (HUF) Versus The Income Tax Officer, Ward I (1) , Trichy

    Exemption u/sec. 54F - net consideration computation to be invested or value fixed u/s 50C as stamp valuation - Held that - The assessee has invested entire net sale consideration in the construction of house property alongwith two others at Bangalor... ... ...


  • 2016 (8) TMI 1091 - ALLAHABAD HIGH COURT

    Haji Ramzan And Sons Versus Commissioner of Income Tax And Another

    Waiver of interest charged under Section 220 (2A) application rejected - Held that - The Commissioner of Income Tax, who is competent authority to consider the question of waiver, has noticed that Assessee has maintained certain documents showing goo... ... ...


  • 2016 (8) TMI 1090 - GUJARAT HIGH COURT

    KAIRA DISTRICT CO OP MILK PRODUCERS UNION LIMITED Versus ASSISTANT COMMISSIONER OF INCOME TAX - ANAND CIRCLE

    Reopening of assessment - Deduction under section 80P(2)(d) - Held that - Assessee s claim of deduction under section 80P(2)(d) of the Act that the Assessing Officer passed the order of assessment in which, as noted, he allowed the entire claim of de... ... ...


  • 2016 (8) TMI 1089 - BOMBAY HIGH COURT

    The Commissioner of Income Tax-4 Versus M/s. Bakliwal Financial Services (I) Pvt. Ltd.

    Addition made on account of interest paid on Bank OD and unsecured loan - ITAT deleted the addition - Held that - We find that the impugned order records the fact that the interest free advances made by the respondent assessee to its sister concern w... ... ...


  • 2016 (8) TMI 1088 - GUJARAT HIGH COURT

    COMMISSIONER OF INCOME TAX Versus AMIT K. JAIN ALIAS ANIL K. JAIN

    Validity of assessment - Whether the Appellate Tribunal is right in canceling the assessment order framed by AO without going into the merits, on the ground that the Assessing Officer had issued notice u/s. 158BC to the assessee to file the return wi... ... ...


  • 2016 (8) TMI 1087 - ITAT MUMBAI

    Jitendra Kumar Soneja Versus Income Tax Officer, Ward 6 (3) (3) , Mumbai

    Nature of receipt in the hands of the assessee - corpus fund received - Held that - Consideration for which the amount has been paid by the developer are, therefore, not relevant in determining the nature of receipt in the hands of the assessee. In v... ... ...


  • 2016 (8) TMI 1086 - ITAT DELHI

    M/s. Goli Finance Ltd Versus Deputy CIT, Company Circle-12 (1) , New Delhi

    Addition on unexplained cash credit under sec. 68 - share application money - Held that - The assessee had furnished details of the share applicants supported with some evidence. The first category was of those share applicants who had paid share app... ... ...


  • 2016 (8) TMI 1085 - ITAT DELHI

    ACIT, Circle, Hardwar Versus Aron Hurley Koncepts Pvt. Ltd.

    Eligibility of deduction u/s 80IC - AO has recorded that the assessee has sold one amplifier which was purchased from sister concern namely M/s Saraswati Dynamics, Roorkee and, therefore, the year under which the survey took place the assessee was no... ... ...


  • 2016 (8) TMI 1084 - ITAT AHMEDABAD

    Income-tax Officer, Ward - 4 (2) , Surat Versus Shikhar Yarns Pvt. Ltd.

    Penalty u/s.271(l)(c) - Held that - aAssessee has declared business loss of ₹ 64,89,606/- in the return of income duly processed u/s 143(1) of the Act and in the reassessment proceedings u/s 147 of the Act no material record was available befor... ... ...


  • 2016 (8) TMI 1083 - ITAT INDORE

    M/s Narendra Industries Burhanpur Versus Addl. Commissioner of Income tax, Range, Khandwa

    Disallowance of interest expenses - Held that - When the assessee is paying interest on the amounts borrowed by it, the only business fund can be used on the ground of business expediency and not otherwise. The assessee is to prove the nexus that the... ... ...


  • 2016 (8) TMI 1082 - ITAT AHMEDABAD

    The ACIT, Navsari Circle, Navsari Versus Shri Kersi Homi Tengri and The DCIT, Navsari Circle, Navsari Versus Shri Kersi Homi Tengri

    TDS u/s 195 - Payment of commission to the foreign agents - Held that - Once, the genuineness of the expenditure has been accepted in earlier years, the payment of commission to the same parities cannot be considered as incurred for non-business purp... ... ...


  • 2016 (8) TMI 1081 - ITAT DELHI

    Frigoglass India Pvt Ltd Versus Assistant Commissioner of Income Tax, Circle 9 (2) , New Delhi

    Transfer pricing adjustment - ALP in respect of royalty and management fees - Held that - The issue is covered, in favour of the assessee in assessee s own case for the assessment year 2010-11. There is no occasion to take a different view of the mat... ... ...


  • 2016 (8) TMI 1080 - ITAT BANGALORE

    M/s. Apple India Pvt. Ltd. Versus Deputy Commissioner of Income-tax, Circle 11 (1) , Bangalore.

    Revision u/s 263 - Principal Commissioner was of the view that the AO merely allowed provision for warranty expenditure without looking into the aspect of whether such provision was made on a scientific basis as per guidelines laid down by the Hon bl... ... ...


  • 2016 (8) TMI 1079 - ITAT BANGALORE

    M/s. Suresh Enterprises Pvt. Ltd. Versus Asst. Commissioner of Income-tax, Circle 3 (1) , Hubli.

    Deemed dividend u/s 2(22)(e) - Held that - The assesseecompany i.e. Suresh Enterprises, Pvt. Ltd., is not a shareholder in Shejawadkar Builders Pvt. Ltd. Therefore, the essential condition for invoking provisions of sec.2(22)(e) is not fulfilled in t... ... ...


  • 2016 (8) TMI 1078 - ITAT JAIPUR

    The Asstt. Commissioner of Income Tax, Circle-2, Alwar Versus M/s. Rajendra Mittal Construction Co. P. Ltd. and Vica-Versa

    N.P. determination - Held that - CIT (A) has examined in detail the material placed before him and also considered the average rate of net profit rate shown for the assessment years 2005- 06, 06-07, 07-08, 08-09 and 09-10. The ld. CIT (A) has conside... ... ...


  • 2016 (8) TMI 1049 - PUNJAB AND HARYANA HIGH COURT

    Honda Motorcycle and Scooters India Pvt. Ltd. Versus Asistant Commissioner of Income Tax, Circle-2, Gurgaon

    Transfer pricing adjustment - discarding the CUP method - Held that - Section 92-C(1) of the Act pertains to the determination of the arm s length price in relation to an international transaction. Section 92-F (ii) defines arm s length price to mean... ... ...


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