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Income Tax - Case Laws

Showing 1 to 20 of 88933 Records

  • 2016 (9) TMI 1155 - SUPREME COURT OF INDIA

    COMMISSIONER OF INCOME TAX Versus SHRI ASHISH P. DEORA

    Applicability of section 28(iv) - value of any benefit or perquisite transfer of shares for Failure to comply with the conditions of contract - Held that - We do not find any legal and valid ground for interference. The Special Leave Petitions are di... ... ...


  • 2016 (9) TMI 1154 - ITAT KOLKATA

    Smt. Shila Mondal Versus Commissioner of Income Tax (Appeals) Asansol, Office of the ITO, Ward-2 (2) , Asansol

    Addition u/s 40A(3) r.w.r 6DD - payment in a sum exceeding 20,000 rupees - depositing cash into the Bank Account of Supplier Asansol Bottling and Packaging Co. Pvt. Ltd. (Warehouse) against issue / purchasers of Country Spirit - Held that - The prima... ... ...


  • 2016 (9) TMI 1153 - ITAT KOLKATA

    M/s. PBN Construction (P) Ltd., Siliguri Versus Pr. C.I.T. - Siliguri

    Revision u/s 263 - difference of TDS as per 26AS and TDS as declared in Return of Income (ROI) - reasons to believe - Held that - AO is also duty bound to examine that apart from the AIR information, if there is potential escapement income more than ... ... ...


  • 2016 (9) TMI 1152 - ITAT KOLKATA

    Pavil lion Commercial Pvt. Ltd. Versus ITO Ward-5 (2) , Kolkata

    Treatment to loss on shares - bogus loss - the broker of KSE was suspended - Genuineness of transaction doubted - failure to produce books - Held that - The transactions were complete in terms of documentation and there was no defect in the papers su... ... ...


  • 2016 (9) TMI 1151 - ITAT MUMBAI

    G.R. Pandya Share Broking Ltd., C/o. Shah and Company Tax Consul tants Versus Asst. Commissioner of Income Tax-CC-13, Mumbai and Vica-Versa

    Validity of proceedings u/s 153A - computing the six assessment years for assessing / reassessing u/s 153C - Held that - The reference to the date of search in cases of other person where warrant of authorization was not issued, the date of receipt o... ... ...


  • 2016 (9) TMI 1150 - ITAT MUMBAI

    M/s CNI Research Ltd. Versus DCIT-5 (1) , Mumbai

    Disallowance u/s 14A - correctness of the claim - expenditure or no-expenditure for earning exempt income - Held that - sub-section (2) deals with cases where the assessee specifies a positive amount of expenditure in relation to income which does no... ... ...


  • 2016 (9) TMI 1149 - ITAT MUMBAI

    IL and FS Employees Welfare Trust Versus Addl. Commr. Of Income Tax 19 (3) , Mumbai and Vica-Versa

    Diminution of value of shares - to be treated as business loss or not - Held that - Regular method of valuation to be followed - No doubt it is to be seen whether diminution of investment in the shares is liable to allowable or not. This matter of co... ... ...


  • 2016 (9) TMI 1148 - ITAT DELHI

    Ranjeet Singh Khurana, C/o. Rattan Lal and Associates, CA Versus CIT, Delhi-XV, New Delhi

    Revision u/s 263 - Voluntary retirement compensation - disallowance of claim of deduction allowed under sec. 10(10C) - profit in lieu of salary - Held that - As decided in CIT vs. Sharda Sinha 2015 (12) TMI 1290 - DELHI HIGH COURT wherein held that t... ... ...


  • 2016 (9) TMI 1147 - ITAT DELHI

    M/s. Precision Dwellers (P.) Ltd. Versus DCIT, Central Circle-4, New Delhi

    Validity of proceeding under section 153A - no notice under section 143(2) issued within the statutory period available - disallowance under section 40A(3) - existence of incriminating material - Held that - Original return of income under section 13... ... ...


  • 2016 (9) TMI 1146 - ITAT DELHI

    DCIT, CIRCLE 19 (1) , NEW DELHI Versus M/s OPG SECURITIES PVT. LTD.

    Disallowance in respect of fee paid to SEBI - Held that - CIT(A) has rightly respectfully followed the decision in the case of CIT vs. BLB Ltd. reported 2010 (3) TMI 907 - DELHI HIGH COURT by observing that the assessee was required to pay a fee to S... ... ...


  • 2016 (9) TMI 1145 - ITAT AHMEDABAD

    The Dy. CIT, Circle-2, Ahmedabad Versus Sales India Pvt. Ltd.

    Allowability of expenditure incurred to renovation of expenses - revenue v/s capital expenditure - Held that - We find that ld.CIT(A) while deciding the issue in favour of assessee has noted that the expenditure incurred was to make tenanted premises... ... ...


  • 2016 (9) TMI 1144 - ITAT DELHI

    M/s Rana Bar Ltd P Ltd [Presently known as Radiant Bar Ltd Versus The ITO, Ward 15 (2) , New Delhi

    Deduction u/s 80IC - allegation that sales have been inflated in order to claim deduction u/s 80IC of the Act - Held that - A.O held that the assessee has not been able to explain the source of cash deposits in his bank account of ₹ 7,77,86,000... ... ...


  • 2016 (9) TMI 1143 - ITAT MUMBAI

    Shri Imran A. Tankiwala C/o. Saif Marine Versus The Income Tax Officer Ward 13 (2) (1) 425, Mumbai

    Bogus long term capital gain entries - whether the statement of Shri Mukesh Choksi is sufficient to the addition? - Held that - Except the statement of Shri Mukesh Choksi there is no material available to the Assessing Officer for the said addition. ... ... ...


  • 2016 (9) TMI 1142 - ITAT DELHI

    ACIT, Circle-1, Meerut Versus Modern Chemicals, Meerut

    Unexplained sundry creditors - Held that - The documents available on record relied upon before the AO the CIT(A) have been taken into consideration. We find that in the absence of any argument assailing the same the finding of the CIT(A) that the ad... ... ...


  • 2016 (9) TMI 1141 - ITAT MUMBAI

    ABB Switzerland Ltd., C/o. ABB Ltd. Versus ADIT (IT) -1 (1) , Mumbai

    Reopening of assessment - reason to believe - income earned from the Navsari Project -Held that - As no income has been earned from the Navsari Project which is a contract agreement dated 12th September, 2009. Hence in this year also the reopening u/... ... ...


  • 2016 (9) TMI 1140 - ITAT AHMEDABAD

    Welmicron Pvt. Ltd. Versus ITO, Ward-4 (4) , Baroda

    Reopening of assessment - addition on account of low gp - Held that - In order to reopen the assessment, where the scrutiny assessment has already undertaken, even before the end of the four years, the AO should possess some fresh tangible material, ... ... ...


  • 2016 (9) TMI 1080 - KERALA HIGH COURT

    KERALA STATE BEVERAGES (M&M) CORPORATION LIMITED Versus JOINT COMMISSIONER OF INCOME TAX SPECIAL RANGE, TRIVANDRUM AND OTHERS

    Assessment of income - total income was determined by adding surcharge on sales tax under the Kerala General Sales Tax Act and turn over tax levied under the Kerala Surcharge on Taxes Act, 1957 - Held that - According to us, irrespective of the contr... ... ...


  • 2016 (9) TMI 1079 - MADRAS HIGH COURT

    Commissioner of Income Tax Versus M/s. Chettinad Morimura Semi Conductor Material Pvt. Ltd.

    Notional loss of depreciation - whether set off against other income of earlier years prior to initial assessment year could not be carried forward to set off in the initial assessment year for the purpose of working out the deduction under Section 8... ... ...


  • 2016 (9) TMI 1078 - KARNATAKA HIGH COURT

    The Commissioner of Income Tax, The Deputy Commissioner of Income Tax Versus M/s Basaveshwara Sahakari Bank Niyamith

    TDS u/s 194A - Whether the interest paid to members of a Co-operative Bank above ₹ 10,000/- should be added to tax or not?? - Held that - The provisions of the section 194(3)(v) of the Income-tax Act have been amended so as to expressly provide... ... ...


  • 2016 (9) TMI 1077 - ITAT KOLKATA

    A.C.I.T., Central Circle-VI, Kolkata Versus M/s. J.K. Tyre and Industries Ltd.

    Addition on account of carried forwarded unabsorbed depreciation - CIT(A) deleted the addition - Held that - Perusal of provisions of s. 32(2) as substituted by the Finance (No. 2) Act, 1996 w.e.f. 1st April, 1997 (hereinafter called the second perio... ... ...


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