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Income Tax - Case Laws

Showing 1 to 20 of 98304 Records

  • 2017 (9) TMI 1043 - DELHI HIGH COURT

    Eicher Motors Ltd. Versus Commissioner of Income-Tax-III

    Claim of weighted deduction under Section 35 (2AB) - Held that - Having held that the R&D expenditure as claimed by the Assessee ought to have been allowed, there was no question of remanding the matter to the AO for returning a finding on whether the expenditure was of revenue or capital nature. This is because, under Section 35 (2AB) of the Act, both revenue and capital expenditure are allowable in their entirety, excluding expenditure in the n....... + More


  • 2017 (9) TMI 1042 - MADRAS HIGH COURT

    M/s. Jayanthi Natarajan Versus Assistant Commissioner of Income Tax

    Reopening of assessment - reasons to believe - whether the respondent was duty bound to pass a separate speaking order on the objections raised by the petitioner for reopening? - Held that - The Hon ble Supreme Court in the case of GKN Driveshafts (India) Ltd. (2002 (11) TMI 7 - SUPREME Court) held that when a notice under Section 148 of the Income Tax Act is issued, the proper course of action for the noticee is to file a return and if he so des....... + More


  • 2017 (9) TMI 1041 - DELHI HIGH COURT

    Tulsi Tracom Private Limited Versus Commissioner of Income Tax – 9

    Revision u/s 263 - validity of notice - notice issued on wrong address - Held that - Held that - The notice having been given initially at the wrong address and thereafter posted to the correct address just two days prior to the said hearing and the said notice also having been returned unserved due to the reasons which are not decipherable, the requirement under Section 263 (1) of the Act is not satisfied. In Chandra Agencies (2010 (10) TMI 849 ....... + More


  • 2017 (9) TMI 1040 - GUJARAT HIGH COURT

    Genus Electrotech Ltd. Versus Union of India & 4

    Transfer of cases u/s 127 - reasons for change in jurisdiction - Held that - Even though an assessee may not have a vested right to insist that his assessment be completed only at one place or by a particular Assessing Officer, nevertheless, the reasons for transfer must be weighty enough to offset against such personal inconvenience of an assessee. In exercise of power under section 127 thus we are concerned with larger public interest on one ha....... + More


  • 2017 (9) TMI 1039 - BOMBAY HIGH COURT

    Golden Tobacco Ltd. (formerly known as GTC Industries Ltd.) Versus The Asstt. Commissioner of Income­-tax 8 (1) , Mumbai ­

    Scope of revision u/s 263 - order erroneous and prejudicial to the interest of Revenue - Held that - Without commenting in any manner and concluding that the invocation of the power was justified, the Tribunal has disposed of the matter. In a way it has made a short shrift or resorted to a shortcut. We do not think that this is a satisfactory way of deciding appeals and as a last fact finding authority. It was incumbent on the Tribunal to have go....... + More


  • 2017 (9) TMI 1038 - GUJARAT HIGH COURT

    Principal Commissioner of Income Tax -2 Versus Mazda Ltd.

    Disallowance of liquidated damage - allowable business expenditure u/s 37 - nature of expenses - Held that - Section 37 of the Act is the residuary provision granting deduction of an expenditure not being expenditure of the nature of capital expenditure or personal expenses of the assessee, which is laid out or expended wholly and exclusively for the purposes of business or profession and not specified in the preceding sections 30 to 36 of the Ac....... + More


  • 2017 (9) TMI 1037 - BOMBAY HIGH COURT

    Thyrocare Technologies Limited, Mumbai Versus The Income Tax Officer (TDS) 3 (4) , Mumbai And Thyrocare Technologies Limited Versus The Assistant Registrar representing the Income Tax Appellate Tribunal & Others

    TDS liability - payment to the parties who brought the samples for testing and reports at the assessee s door steps - arrangement as a principal to agent relationship - Tribunal assumes by terming the whole arrangement as a principal to agent relationship, that it is the appellant/assessee who is paying the money and therefore, for such services for which money is paid, the assessee is obliged to deduct tax at source - Held that - The appellant/a....... + More


  • 2017 (9) TMI 1036 - BOMBAY HIGH COURT

    Commissioner of Income Tax Versus Shri. Deepak Kumar Agarwal, Govind Agarwal, Manidevi Agarwal And Pr. Commissioner of Income Tax Versus Nikki Agarwal, Govind Agarwal

    Validity of the notice under Section 153A - addition under Section 68 on account of unexplained gifts received from the family members - Held that - No addition could have been made while completing assessment under Section 153A of the IT Act in the case of completed assessment if no undisclosed income was determinable from the material found as a result of search. The concurrent finding of fact is that no one could form an opinion that the subsc....... + More


  • 2017 (9) TMI 1035 - GUJARAT HIGH COURT

    Gujarat Ambuja Exports Ltd. Versus Deputy Commissioner of Income Tax - Circle - 2 (1) (1)

    Reopening of assessment - sufficiency of material available with the Assessing Officer to form a belief that income chargeable to tax had escaped assessment - bogus purchases - Held that - When fresh material was unearthed by the department through the investigation wing who had inquired into the transactions of M/s. S.R. Sales Corporation neither the question of change of opinion nor the concept of full disclosure may have a bearing. If the purc....... + More


  • 2017 (9) TMI 1034 - BOMBAY HIGH COURT

    Commissioner of Income Tax-24 And Pomela Bali Prasad Versus Shri M.H. Patel And Mr. Manubhai Hargovind Patel & Ors.

    The Appeal admitted on the following substantial question of law - (1) On the facts and circumstances of the case and in law the Hon ble I.T.A.T. erred in holding that the assessment was bad in law when it had itself in its order held that there was a typographical error while taking approval in the sense that the year was wrongly mentioned as Asst. Year 2001-2002 instead of 2000-2001 ignoring that the mistake is remedial in view of section 292B ....... + More


  • 2017 (9) TMI 1033 - ALLAHABAD HIGH COURT

    The Commissioner of Income Tax Versus Gyan Deep Shiksha Bharti

    Application for registration under section 12-AA - the date of application for registration under section 12-AA would be the date on which the application was originally made i.e. 20/21.11.2000 or the date on which subsequent application/representation dated 30.09.2004 was filed - Held that - When registration is granted it will be operative from the date of the order and the benefit of sections 11 and 12 of the Act on the basis of registration w....... + More


  • 2017 (9) TMI 1032 - ITAT DELHI

    ADIT (E) TC-II, New Delhi Versus Eklavya Foundation

    Exemption u/s 11 eligibility - proof of charitable activities - Held that - First Appellate Authority has rightly concluded that Eklavya Foundation is engaged in social cause without any profit motive and A.O. alleged that it is not an educational institution and is carrying out business activities and it is not maintaining separate books of accounts, all these allegations are misconceived notions of the A.O. After going through the impugned orde....... + More


  • 2017 (9) TMI 1031 - ITAT DELHI

    ADIT (E) , TC-II, New Delhi Versus Fortune Society for Development and Promotion of International Business

    Exemption u/s 11 - denial of claim because the assessee transferred the net profit for non-charitable purpose which is clear violation of section 11(1) and 11(1)(b) - Held that - We have noted that assessee is just transferred the above money to the infrastructure development fund as well as general reserve fund to be used for the purpose of the object of the trust of the assessee society and not for any other object other than the object of the ....... + More


  • 2017 (9) TMI 1030 - ITAT DELHI

    Krishna Charitable Society Versus Addl. CIT, Range-1, Ghaziabad

    Exemption u/s 11 - transport and hostel facilities surplus considered as business income of the assessee society - proof of charitable activities - Held that - As observed that the statutory obligation of maintenance of the hostel, which involved supply, and sale of food was an integral part of the objects of the Institute nor could the running of the hostel be treated as the principal activity of the Institute. The Institute could not be held to....... + More


  • 2017 (9) TMI 1029 - ITAT DELHI

    M/s. Bestech Hospitalities Pvt. Ltd. Versus ACIT, Central Circle –II, Faridabad

    Penalty u/s 271(1)(c) - additional income included in the return filed under section 153A - disclosure made in the statement of Sh. Dharmendra Bhandari, Director of the assessee company recorded under section 132(4) - effect of amendment in Explanation 5A to Sec 271(1)(c) - Held that - There cannot be any dispute to the fact that once a return is filed pursuant to notice under section 153A, the same is treated as return filed under section 139 of....... + More


  • 2017 (9) TMI 1028 - ITAT DELHI

    CR Fashions Pvt. Ltd. Versus ACIT (OSD) , Ward-3 (2) , New Delhi

    Disallowance of labour wages expenses, embroidery charges, fabrication expenses, and power and fuel expenses - assessment u/s 144 - AO has made the disallowances at the rate of 50 of all the expenditure - Held that - In view of the fact that assessee is shown a receipt of ₹ 25 Lacs and out of which all these expenditures have been incurred by the assessee. Had the assessing officer has any doubt about the payment in cash, then such doubtful....... + More


  • 2017 (9) TMI 1027 - ITAT DELHI

    DCIT, Central Circle-13, New Delhi Versus Esha Securities Pvt. Ltd.

    Unexplained credits received by the assessee company from Shri SK Gupta - Held that - The facts of the relevant issue involved in the appeal are similar to the facts discussed in the appeal of the assessee for assessment year 2004 05. During the year the information found from the laptop of Mr. S. K. Gupta was that assessee has obtained and accommodation entry of ₹ 5 255000 from that particular person. The assessee could not produce the bas....... + More


  • 2017 (9) TMI 1026 - ITAT DELHI

    DCIT, Circle-11 (1) , New Delhi Versus Eltek SGS Pvt. Ltd. And Vice-Versa

    Reopening of assessment - eligibility deduction under section 80 IB - Held that - CIT(A) has categorically held that assessee s investment in plant and machinery is below the specified limit and therefore it is entitled to deduction under section 80 IB of the income tax act. It was further held by him that in earlier years. The deduction has not been disturbed and therefore the eligibility conditions of the assessee are satisfied. Ld. departmenta....... + More


  • 2017 (9) TMI 1025 - ITAT DELHI

    Maharaja Agersen Kanya Mahavidhalaya Samiti S/o Shri Prem Prakash Advocate Versus CIT (Exemptions) Lucknow

    Rejecting application u/s 80G (5) - non charitable activities - non providing proper opportunity before rejecting the application for registration - Held that - We find that the Ld. A.R. has filed an affidavit of Shri Amit Kumar Singhal who is an employee of the Samiti in which he has stated that he was fully acquainted with the facts of the case and produced salary registers and other books of accounts before the Ld. CIT(E) which have been exami....... + More


  • 2017 (9) TMI 1024 - ITAT DELHI

    Granite Services International P. Ltd. Versus ACIT Circle 10 (2) , New Delhi

    TPA - comparable selection - Held that - Assessee is primarily engaged in providing technical support to its associated enterprises (AEs). The technical support services provided by the assessee to its AEs relate to provision of erection, installation, commissioning, warranty administration, operation and maintenance, inspection, renovation and modernization services for power plants and turbines, this companies functionally dissimilar with that ....... + More


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Highlight: Business expenditure u/s 37 - liquidated damage - breach of contract terms - Expenditure was not incurred for any purpose which is an offence or which is prohibited by law - cannot be disallowed - HC

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