2016 (8) TMI 1032 - ITAT JABALPUR
Northern Coalfields Limited, Versus DCIT, Circle 2 (1) , Jabalpur
Allowability of expenditure incurred on removal of overburden - Held that - As relying on assessee s own for Assessment Year 2010-11 we have no hesitation in holding that the expenditure incurred on removal of overburden is to be allowed u/ s 37 (1) ... ... ...
2016 (8) TMI 1011 - SUPREME COURT
Commissioner of Income Tax & Another Versus Karn. Planters Coffee Curing Work (P) Ltd.
Addition relating to trade creditors - additions u/s 68 - Held that - Both the Assessing Officer and the C.I.T. had recorded findings of fact adverse to the Assessee which has been upheld by the learned single judge of the High Court. The Division Be... ... ...
2016 (8) TMI 1010 - SUPREME COURT
M/s Girilal & Company Versus Income Tax Officer, Mumbai & Others
Reopening of assessment - non entitlement for deduction under Section 80(1B) - Held that - Information was supplied as there was some query about the value of the land. Obviously, while going to this document the Assessing Officer would examine the v... ... ...
2016 (8) TMI 1009 - ITAT PUNE
Gera Developments Pvt. Ltd. Versus Dy. CIT, (Int. Tax) -I, Pune
TDS u/s 195 - P.E. in India - Whether the payments made by the assessee in lieu of designs, drawings, plans made by Gensler is in the nature of royalty/fee for included services and thus the assessee was liable to deduct tax at the time of making suc... ... ...
2016 (8) TMI 1008 - ITAT CHENNAI
Smt. Rukmani Santhanam Versus The Income Tax Officer, Business ward IV (4) , Chennai
Computation of capital gains on exemption claimed by the assessee u/s 54/54F - Held that - When the assessee entered into an agreement with M/s Doshi Housing Ltd allowing them to retain 40 of the undivided share in the property for a consideration of... ... ...
2016 (8) TMI 1007 - ITAT DELHI
The Dy. C.I.T, Circle 6 (1) , New Delhi Versus M/s Minda Investment Ltd and Vica-Versa
Addition u/s 68 - Held that - The addition made on account of unsecured loans from loan creditors cannot be sustained and the consequential addition on account of interest paid to the loan creditors is also not sustainable. We may point out that duri... ... ...
2016 (8) TMI 1006 - SUPREME COURT
Asstt. Commr. of Income Tax, Bangalore Versus M/s United Spirits Limited
Benefit of Section 32A on the investment which has been made by the respondent-assessee herein in respect of effluent treatment plant. Keeping in view the specific provisions contained in sub-section 2C of Section 32A of the Income Tax Act, we do not... ... ...
2016 (8) TMI 1005 - SUPREME COURT OF INDIA
DIRECTOR OF INCOME TAX (INTERNATIONAL TAXATION - II) NEW DELHI Versus R&B FALCON OFFSHORE LTD. CO.
Taxability of income in India - whether income of an assessee arising from contract, in India, be treated as taxable in India as PE of an assessee exists in terms of article 5(2)(A) (B) (C) beside 5(2)(J) of DATA with USA? - review petition - Held th... ... ...
2016 (8) TMI 1004 - GUJARAT HIGH COURT
PRINCIPAL COMMISSIONER OF INCOME TAX - VADODARA - 3 Versus SHREE NILKANTH DEVELOPERS AND 1
Validity of order of Settlement Commission - Held that - In the present case the disclosures revised by the assessee during the course of the settlement proceedings were substantial and, in fact, far greater than the initial disclosure made. The Sett... ... ...
2016 (8) TMI 1003 - GUJARAT HIGH COURT
DEEPABEN AMITBHAI SHAH Versus DY. COMMISSIONER OF INCOME TAX
Transaction of shares - capital gain or business income - whether the assessee lady was a dealer in shares and was not an investor in shares? - Held that - Considering the decision of this court in the case of Smt. Divyaben C. Shah (2001 (4) TMI 920 ... ... ...
2016 (8) TMI 1002 - ITAT DELHI
Deputy Commissioner of Income Tax Circle 27 (2) New Delhi Versus YKK India Pvt Ltd and YKK India Pvt Ltd Versus Assistant Commissioner of Income Tax Circle 18 (1) , New Delhi
Transfer pricing adjustment - Held that - When an Assessing Officer holds that no services are rendered by the AE, essentially he holds that the payments made in the international transaction in question are not arm s length payments. The ascertainme... ... ...
2016 (8) TMI 1001 - ITAT DELHI
Stanley Consultants Pvt Ltd Versus Dy. Commissioner of Income Tax, Circle 9 (1) , New Delhi
Treatment to project work as separate profit centre - segmental approach - Held that - The inferences drawn by the TPO are incorrect and quite clearly the assessee was not doing a simple support service per se for the project work undertaken by its A... ... ...
2016 (8) TMI 1000 - ITAT PUNE
Income Tax Officer, Ward – 10 (1) , Pune Versus M/s. Shri Vishwakalyan Jivraksha Pratishthan and Vica-Versa
Eligibility of benefits of exemption u/s. 11 and 12 - Held that - The amendment to provisions of sub-section (2) to section 12A to be retrospective in nature, coupled with the fact that the assessee was subsequently granted registration u/s. 12AA of ... ... ...
2016 (8) TMI 999 - ITAT PUNE
Pramod Trimbak Korgaonkar Versus ACIT, Range-5, Pune
Gain arising on sale of shares - business income OR short term capital gain - Held that - A perusal of Clause (b) reproduced above would show that where the shares are held for a period of more than 12 months, the Revenue shall not dispute the income... ... ...
2016 (8) TMI 998 - ITAT AHMEDABAD
ACIT, Circle-11, Ahmedabad Versus Shri Parshwanath
Disallowance u/s 14A r.w.s. 8D - Held that - In the given case, where the assessee has earned exempted income and also has a substantial investments in shares the provisions of section 14A of the Act for disallowance of expenditure incurred in relati... ... ...
2016 (8) TMI 997 - ITAT AHMEDABAD
DCIT, (OSD) , Range-1, Ahmedabad Versus M/s. Bar Magnet Investments Pvt. Ltd.
Nature of income - Addition on account of treating short term capital gain as business profit - Held that - The distinction between the two types of transaction is not always easy to make. Whether the transaction is of one kind or the other depends o... ... ...
2016 (8) TMI 996 - ITAT DELHI
Ludwig Pfeiffer Gypsums Structure India Pvt. Ltd Versus The D.C.I.T, Circle - 4 (1) , New Delhi
TDS liability - delay in depositing tds - Held that - Delay in depositing the cannot be attributed to the assessee as the assessee had sufficient funds to deposit tax and he also secured ID and password to make online payment of TDS. However, the sam... ... ...
2016 (8) TMI 995 - ITAT DELHI
Parnika Commercial and Estates (P) Ltd. Versus Addl. C.I.T., Range-14, New Delhi
Eligibility for claiming deduction u/s. 80IA(4) - civil contract business - The work was allotted by DRDO, Ministry of Defence, Govt. of India for construction of rain water harvesting reservoir, i.e., the development of infrastructure facility. - He... ... ...
2016 (8) TMI 994 - ITAT MUMBAI
The Dy. Commissioner of Income Tax, Circle-15 (1) , Mumbai Versus M/s. Kamal Associates and Vica-Versa
Allowability of expenditure - Held that - From the very nature of expenditure it makes clear that all the expenses are related to project itself and none of the expenditures can be presumed to be non-related one. The assessee before us produced bills... ... ...
2016 (8) TMI 993 - ITAT MUMBAI
Vishandas S Lakhani and Vijaykumar S Lakhani Versus The Income Tax Officer Ward 22 (3) -4, Mumbai
Disallowance of expenditure as claimed by the assessee in the profit and loss account - treatment of the business income as income from other sources - Held that - As from the perusal of the paper book submitted before us, it is seen that assessee ha... ... ...