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2015 (5) TMI 728 - BOMBAY HIGH COURT

Commissioner of Income Tax, Central-IV Versus M/s. Ruby Mills Ltd.

Transaction in the nature of adventure - Computation of capital gain - amount received pursuant to the tripartite agreement - Tribunal termed that the amount received pursuant to the tripartite agreement is assessable to tax under the head Capital Ga.....


2015 (5) TMI 727 - ITAT DELHI

DCM Shriram Consolidated Ltd. Versus ACIT, Circle 10 (1) , New Delhi

Disallowance of diminution in value of fertilizer bonds - Held that - The assessee company was compelled to receive fertilizer s bonds in lieu of cash fertilizers subsidy by the Government of India. The AO has not brought out any allegation that the .....


2015 (5) TMI 726 - ITAT DELHI

Aspect Software Inc. Versus ADIT, Circle 1 (1) , International Taxation, New Delhi

Revenue earned from supply of software taxed as Royalty - DTAA between India and USA - Held that - Respectfully following the decision of Ericsson A.B. (2011 (12) TMI 91 - Delhi High Court) and Infrasoft Ltd. (supra), we hold that the consideration r.....


2015 (5) TMI 725 - ITAT DELHI

Shri Daljeet Singh, Versus ACIT, Central Circle 17, New Delhi

Unexplained investment - addition u/s 69 - Held that - Incidentally in the case under dispute, the AO had neither applied his mind nor formed a belief, but, merely came to the conclusion, based on the report of the approved valuer found during the se.....


2015 (5) TMI 724 - ITAT DELHI

M/s. Space vision Impex (P) Ltd. Versus ACIT, Circle 9 (1) , New Delhi

Disallowance of Prior period expenditure - Held that - Ld. Counsel refers to page 20A wherein Cochin Customs receipt for miscellaneous charges is contained which is dated 30.01.2006 acknowledging the payment of ₹ 84,728/-. In this receipt, the .....


2015 (5) TMI 723 - ITAT DELHI

Sanjay Parwal Versus ACIT, Circle, New Delhi

Undisclosed Short Term Capital Gains from sale of Share - Held that - The arguments of the learned Authorized Representative that the appellant had not sold the property cannot be accepted since it is judicially well known that in the case of a compa.....


2015 (5) TMI 722 - ITAT DELHI

ACIT Circle 4 (1) , New Delhi Versus Living Media India Ltd.

Disallowance of the claim of bad debts - CIT(A) deleted the disallowance - Held that - the present case, it is an admitted fact that the assessee had written off debts in its books of accounts and it is not the case of the AO that the debts written o.....


2015 (5) TMI 721 - ITAT DELHI

Assistant Commissioner of Income Tax Circle-21 (1) New Delhi Versus Sh. Pawan Kumar Kansal, , Prop. M/s Jagdamba Export

Rejection of books of accounts - Held that - As from the assessment order that it is not the case of the Assessing Officer that the respondent assessee failed to produce the information called for, nor is it the case that the books of account are def.....


2015 (5) TMI 720 - ITAT DELHI

Agnity India Technologies Pvt. Ltd. Versus ITO, Ward 1 (3) , New Delhi

Transfer pricing adjustment - exclusion of three comparables namely Larsen and Tourbo Infotech Ltd., Persistent Systems Ltd. and Mindtree Ltd.- Held that - This issue is no longer res-integra. The Hon ble High Court 2013 (7) TMI 696 - DELHI HIGH COUR.....


2015 (5) TMI 719 - ITAT DELHI

Income Tax Officer, Ward 41 (4) , New Delhi Versus Sh. Tapash Kumar Chaterjee

Capital gain - CIT(A) deleting addition on account of capital Gain claimed as exempt which was never disclosed to the Department and treating revised computation of assessment proceedings after detecting the same by Department as revised return - CIT.....


2015 (5) TMI 718 - ITAT DELHI

Income Tax Officer Versus Shri Satinder Kumar

Rejection of books of accounts - estimating the net profit 5 of the turnover - CIT(A) deleted addition - Held that - CIT(A) rightly held that the rejection of books of accounts by the AO was not sustainable and the action of the AO in estimating the .....


2015 (5) TMI 717 - ITAT DELHI

M/s. Sanraj Engineering Pvt. Ltd. Versus Income Tax Officer, Ward-7 (3) , New Delhi

Addition on account of deemed dividend u/s 2(22)(e) - Held that - After going through the provision of section 2(22)(e) and conditions thereof, we are of the considered view that the a provisions makes it clear that deemed dividend is to be brought t.....


2015 (5) TMI 716 - ITAT AHMEDABAD

Newton Engineering & Chemicals Ltd. Versus The I.T.O., Ward-4 (1) , Baroda

Disallowance of deferred revenue expenses - Held that - Assessee has not placed any material on record to support its contention of it satisfying the principle of matching concept nor could controvert the observations by ld. CIT(A). In view of the af.....


2015 (5) TMI 715 - ITAT DELHI

ACIT Circle-9 (1) , New Delhi Versus M/s SRL Ranbaxy Ltd (Now Known As Super Religare Laboratories Ltd) And Others

Addition made by the AO u/s. 40(a)(i) - CIT(A) restricted disallowance - Held that - The working submitted by the assessee show that the amount of discount given to the Collection Centre is ₹ 11,78,24,030/- as against the disallowance of ₹.....


2015 (5) TMI 714 - ITAT DELHI

ACIT, Circle-I, Meerut Versus Shri Jitender Kumar Gupta

Excess claim of depreciation - Equipments given on hire - cost of acquisition u//s 43(1) - CIT(A)directing to adopt value of the depreciated assets at ₹ 89,10,245 as against ₹ 22,45,000 taken by the Assessing Officer (AO) and consequently.....


2015 (5) TMI 713 - ITAT AHMEDABAD

DCIT, Circle-1 (1) , Baroda And Others Versus Amarshiv Construction P. Ltd.

Addition under section 41(1) - amount of creditors remained unpaid for more than 3 years - CIT(A) deleted the addition - Held that - We find that no material was brought on record by the revenue to show that the liabilities ceased to exist and the as.....


2015 (5) TMI 712 - ITAT AHMEDABAD

Shri Prakashkumar B. Khatri Versus The CIT-IV, Ahmedabad

Revision u/s 263 - deduction under section 54F wrongly allowed - Held that - The assessee had obtained the permission for construction of farm house on 21/12/006 for construction of 582 sq.meters. and subsequent to the approval, assessee incurred exp.....


2015 (5) TMI 711 - ITAT AHMEDABAD

Income Tax Officer Ward 10 (1) , Ahmedabad Versus Ketan B. Thakkar HUF

Addition made on account of the cash embezzlements - Protective assessment - CIT(A) deleted the addition - Held that - We find that there is no dispute that the addition has been made in this case purely on protective basis . br br On the facts of th.....


2015 (5) TMI 710 - ITAT CHANDIGARH

The ACIT, Central Circle, Patiala Versus Shri Joginder Paul, C/o M/s Jay Industies,

Unaccounted deposits - CIT(A) deleted the addition - Held that - Commissioner of Income-tax (Appeals) has correctly decided the issue because admittedly the assessee had disclosed a sum of ₹ 1.03 crores in the assessment year 2007-08, and a sum.....


2015 (5) TMI 709 - ITAT MUMBAI

Indo Industries Ltd. Versus Income-tax Officer, 2 (2) (2) (1) , Mumbai

Disallowance of export Commission u/s 40a(i) r.w.s 195 - non deduction of TDS - Held that - The non-resident brokers have not rendered any services in India, therefore, commission income neither accrued nor arose in India in view of the decision of t.....


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