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AO cannot re-open assessment merely for non filing of ITR unless the total income is exceeding maximum amount which is not chargeable to tax    *    Whether the service of a copy of the order by Speed Post, would constitute valid service under Customs Act, 1962? - Held Yes - HC    *    Donation to political party - Return filed with Election Commission, indicate the name and donor details - Deduction u/s 80GGC allowed - Tri    *    Validity of statutory provisions - Imposition of penalty on company and directors - he legislature while in view of such situation has granted discretion to the executive, at the same time, provided for sufficient guidelines and safeguards so that such discretion does not convert into arbitrary or discretionary exercise of powers - HC    *    Strengthening Our Debt Markets (Dr. Raghuram G. Rajan, Governor - August 26, 2016 - at Annual Day Address to Foreign Exchange Dealers Association of India, Mumbai)    *    Violation of Clause 49 of the Listing Agreement - whole Time Director chaired the Audit Committee Meeting - levy of penalty of ₹ 5 lac cannot be said to unreasonable or excessive - SAT    *    Tribunal was right in confirming the set-off of MAT Credit under Section 115JAA brought forward from earlier years against tax on total income including surcharge and education cess instead of adjusting the same from tax on total income before charging such surcharge and education cess - HC    *    TDS liability - period of limitation - It is true that the Court cannot legislate the Act, however, the Assessing Officer also cannot be given unfettered powers, which he can exercise even beyond the reasonable period of four years. - HC    *    Waiver or reduction of interest - Application u/s 220(2A) - It has also to be verified whether the default in payment of the amount was due to the circumstances beyond the control of the assessee and the assessee has cooperated with the enquiry. - CIT to reconsider the matter - HC    *    Merchandise Exports from India Scheme (MEIS) - Addition in Table 2 [containing ITC (HS) code wise list of products with reward rates] of Appendix 3B    *    Depreciation (while claiming deduction u/s.80IA) is optional to the assessee and that once the assessee chooses not to claim it, the AO cannot allow while computing the income. - HC    *    Streamlining the process of No Objection Certificate (NOC), Port Clearance Certificate (PCC), voyage return and voyage assessment in the case of Foreign Shipping Companies (FSCs)    *    TCS - scrap generated from the mechanical working of the material (breaking of the ship) - The assessee is duty bound to collect the TCS from the buyers in terms of Section 206C of the Act.- Tri    *    Taxability of capital gains - even though the assessee is shown as the co-owner of the said property, the source of funds for investment in purchase of the said property is by the assessee’s husband - taxable in the hands of husband not the assessee - Tri    *    Audit by department: Justified or not?    *    CENVAT CREDIT    *    Regarding cenvat credit on service tax on rent a cab    *    Constitution of Grievance Redressal Committee    *    Commerce Secretary’s Discussions through DVC with Indian Ambassadors in European Countries on Trade Issues    *    Seeks to further amend notification No.12/2012-Central Excise dated 17.03.2012 so as to levy Basic Excise Duty at a concessional rate of 2% on Aviation Turbine Fuel drawn by operators or cargo operators from the Regional Connectivity Scheme (RCS) airports for a period of 3 years    *    Employees sent on deputation to subsidiary/ associate companies (Service Tax)    *    Service tax exemption for transportation of life saving medicines    *    Central Excise Exemption of ₹ 150 Lakhs
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Income Tax - Case Laws

Showing 1 to 20 of 87771 Records

  • 2016 (8) TMI 967 - CALCUTTA HIGH COURT

    M/s. SREI INFRASTRUCTURE FINANCE LTD. Versus DY. COMMISSIONER OF INCOME TAX, CIRCLE -11 (2) , KOLKATA

    Set-off of MAT Credit under Section 115JAA brought forward from earlier years against tax on total income including surcharge and education cess instead of adjusting the same from tax on total income before charging such surcharge and education cess ... ... ...


  • 2016 (8) TMI 966 - KERALA HIGH COURT

    V.M. MATHAI Versus PRINCIPAL COMMISSIONER OF INCOME TAX, KOCHI AND TAX RECOVERY OFFICER, KOCHI

    Waiver or reduction of interest - Application under Section 220(2A) rejected - non fulfillment of all the conditions laid down in Section 220 (2A) - Held that - When the statutory authority has been given the discretion to consider whether any of the... ... ...


  • 2016 (8) TMI 965 - CALCUTTA HIGH COURT

    Principal Commissioner of Income Tax-I, Kolkata Versus M/s. Rajami Barter Private Limited

    Allowance of non-business expenditure - Whether Learned Tribunal was justified in law to allow the non-business expenditure claimed to have been given to a third party on oral understanding only? - Held that - The question suggested by the revenue ha... ... ...


  • 2016 (8) TMI 964 - GUJARAT HIGH COURT

    Commissioner of Income Tax (TDS) Versus Anagram Wellington Assets Management Co Ltd.

    TDS liability - limitation as prescribed as in Section 201 - Held that - It is true that it is the duty of the assessee to deduct TDS and the question is whether it is likely to cause any loss to the revenue if it is not deducted in time. If TDS is n... ... ...


  • 2016 (8) TMI 963 - BOMBAY HIGH COURT

    The Commissioner of Income Tax-2 Versus State Bank of India

    Allowance of Broken Period Expenses - Held that - It is an agreed position between parties that the decision of this Court in American Express International Banking Corporation vs. C.I.T. 2002 (9) TMI 96 - BOMBAY High Court covers the issue raised he... ... ...


  • 2016 (8) TMI 962 - DELHI HIGH COURT

    Principal Commissioner of Income Tax-07 Versus M/s Omni Info World Pvt. Ltd.

    Addition on account of unexplained cash - Held that - As asserted by the learned counsel for the Revenue that the Department has disputed the books of accounts of the Assessee, the passage from the impugned order of the ITAT states to the contrary. T... ... ...


  • 2016 (8) TMI 961 - KARNATAKA HIGH COURT

    The Commissioner Of Income-Tax, Davangere Versus M/s. Maganur Builders

    Penalty levied under section 271(1)(c) - defective notice - Held that - We find that the issue of validity of the notice wherein the AO has not struck off the irrelevant portion of the notice u/s 274 because of which the reason for levy of penalty is... ... ...


  • 2016 (8) TMI 960 - GUJARAT HIGH COURT

    COMMISSIONER OF INCOME TAX-IV Versus SUPER CONSTRUCTION CO

    Assessment for the block period - ITAT held that the assessment for the block period was barred by limitation on the ground that initial notice, wrongly issued under Section 158BC was a valid notice - Held that - In the present case, the first Notice... ... ...


  • 2016 (8) TMI 959 - BOMBAY HIGH COURT

    General Electoral Trust Versus Income Tax Officer 20 (1) (2) , Mumbai & Others

    Reopening of assessment - reasons to believe - Held that - Mere non filing of return of income does not give jurisdiction to the Assessing Officer to re-open the assessment unless the person concerned has total income which is assessable under the Ac... ... ...


  • 2016 (8) TMI 958 - DELHI HIGH COURT

    Pr. Commissioner of Income Tax-09 Versus W.G. Share Broking Pvt. Ltd.

    Transaction of shares - business income or capital gain - Held that - Both the CIT (A) and the ITAT have concurrently concluded on facts that the Assessee has in its books of account been treating separately the shares held as investment and those he... ... ...


  • 2016 (8) TMI 957 - GUJARAT HIGH COURT

    Rejesh Dahyabhai Prajapati Versus Income Tax Officer

    Addition of unexplained cash credit u/s. 68 - Held that - The materials on record would suggest that admittedly, the assessee had maintained two bank accounts, not disclosed to the Revenue authorities. In such bank accounts, multiple cash deposits we... ... ...


  • 2016 (8) TMI 956 - KARNATAKA HIGH COURT

    Commissioner Of Income -Tax TDS Versus The Karnataka State Apex Co-Operative Bank Ltd.,

    TDS liability on Co-operative Bank to deduct tax on the interest paid to its members - Held that - Circular No.9 dated 11.09.2002, the CBDT has very clearly laid down that co-operative societies carrying on banking business when it pays interest on d... ... ...


  • 2016 (8) TMI 955 - GUJARAT HIGH COURT

    Indo Swiss Embroidery Industries Ltd. Versus Asst. Commissioner of Income Tax

    Admissibility of depreciation - claiming deduction u/s.80IA - whether Tribunal was right in law in holding that depreciation though allowable but not claimed in the return for normal computation of income has to be allowed while computing the deducti... ... ...


  • 2016 (8) TMI 954 - KARNATAKA HIGH COURT

    Principle Commissioner Of Income Tax, Bangalore Versus Sri. T.V. Venugopal

    Sale proceeds from sale of flats - capital gain or business income - Held that - Tribunal after considering the respective case of the assessee has found that the income derived by the assessee from the flat was treated as income from house property.... ... ...


  • 2016 (8) TMI 953 - ITAT MUMBAI

    ACIT- 14 (1) (2) , Mumbai Versus M/s. Godrej Sara Lee Ltd. (Now amalgamated into Godrej Consumer Products Ltd.)

    Rectification of mistake - addition u/s.115JB - whether the rectification order was barred by time and was void ab initio? -Held that - While completing the original assessment, the AO had determined book profit of the assessee at ₹ 40.89 crore... ... ...


  • 2016 (8) TMI 952 - ITAT JAIPUR

    Chandmal Sancheti Versus Income Tax Officer, TDS-2, Jaipur

    Application of section 206C applicable on traders of scrap - scrap generated from the mechanical working of the material (breaking of the ship) - Held that - The only condition of the scrap is that the scrap should be waste and scrap from the manufac... ... ...


  • 2016 (8) TMI 951 - ITAT MUMBAI

    Income Tax Officer-11 (3) (4) , Mumbai Versus Dr. Vandana Bhulchandani

    Short term capital gain - addition on account of assessing 50 of the STCG on sale of the said property in the assessee s hands - Held that - AO after reopening the assessee s case for A.Y. 2005-06 for the purpose of examining, inter alia, the investm... ... ...


  • 2016 (8) TMI 950 - ITAT DELHI

    Knorr-Bremse India Pvt. Ltd. Versus Assistant Commissioner of Income Tax, Circle-1, Faridabad

    Addition on account of professional consultancy charges and management fees - adjustment in Arm s Length Price pertaining to the international transaction SAP consultancy charges and other expenses - MAM - Held that - The employee of the AE provided ... ... ...


  • 2016 (8) TMI 916 - ITAT CHENNAI

    M/s. The Willingdon Charitable Trust Versus The Dy. Director of Income Tax, Exemptions, Chennai

    Revision u/s 263 - applicability of provisos to Sec.2(15) of the IT Act and the failure on the part of the Assessing Officer to consider the same - Held that - We have gone through the assessment order passed u/s.143(3) of the Act dated 28.02.2013. I... ... ...


  • 2016 (8) TMI 915 - ITAT HYDERABAD

    Sri Laxmi Narasimha Grape Garden Versus The Income Tax Officer, Ward-8 (2) , Hyderabad.

    Agricultural land - no documentary evidence to prove that the agricultural land was in the name of the firm - Held that - As rightly pointed out by the Ld. D.R. the assessee had sufficient time, atleast before the CIT(A), to prove that it owns agricu... ... ...


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