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Pr. Commissioner of Income Tax-II Lucknow Versus Shri Rakesh Kumar Jaiswal, Sunder Bagh Lucknow

Mode of service of notice - scrutiny assessment - nothing has been brought on record that the notice under Section 143(2) was served - Held that - As on the event of clause 9.1 of the manual, which has been made applicable on satisfaction of the Asse.....


Shri Kewal Chaudhary Versus Commissioner of Income Tax I, Jalandhar

Disallowance of interest on borrowed capital - ITAT sustained addition - Held that - In the present case, we find that the assessee, with reference to illustrations as reproduced in the earlier part, had been able to demonstrate that the Tribunal had.....

2015 (10) TMI 321 - MADRAS HIGH COURT

M/s Khizaria Leathers Versus The Deputy Commissioner of Income Tax Special Range III, Chennai

Levy of penalty under Section 271D - Whether the Tribunal is correct in concluding that the provisions of Section 269SS of the Act were attracted to the transactions under consideration with a view to levy penalty under Section 271D of the Act? - whe.....


K.S. Venkatesh Versus The Deputy Commissioner of Income Tax

Rectification of mistake - set off of the carry forward business loss denied - Held that - In the instant case the Assessing Officer sought to rectify the original assessment order on the ground that carried forward business loss and same had been se.....

2015 (10) TMI 319 - ITAT HYDERABAD

VITP Pvt. Ltd. Versus Dy. Commissioner of Incometax, Circle – 3 (3) , Hyderabad.

Revision u/s 263 - assessee s claim of deduction u/s 80IA(4)(iii) in respect of Capella Industrial Park not considered by AO - Held that - There is no dispute to the fact that assessee has developed industrial park, which is an eligible business acti.....

2015 (10) TMI 318 - ITAT HYDERABAD

M/s. Vinayaka Agencies Versus The Income Tax Officer, Ward-1, Kothagudem

Revision u/s 263 - Held that - It is observed from the notice issued by the Ld. CIT under section 263 and the detailed reply filed by the assessee to the said notice that most of the issues raised by the Ld. CIT were not only enquired by the A.O. but.....

2015 (10) TMI 317 - ITAT HYDERABAD

Dy. Commissioner of Income-tax, Circle – 9 (1) , Hyderabad Versus Vinay Kumar Agarwal and Vica-Versa

Claim of exemption u/s 10(38) on long term capital gain from sale of shares - date of transaction to be considered - shares were transferred to assessee s D-mat account - CIT(A) held that the gain derived from transaction in shares cannot be treated .....

2015 (10) TMI 316 - ITAT CHENNAI

Assistant Commissioner of Income Tax, Company Circle –III (4) , Chennai Versus M/s. Verizon Data Services India Pvt. Ltd

Computation of deduction u/s 10A - exclusion of 50 of expenses incurred on leased lines communication which is treated as expenses incurred for delivery of computer software outside India) from the export turnover - Held that - Freight, telecommunica.....

2015 (10) TMI 315 - ITAT HYDERABAD

The Income Tax Officer Ward 9 (2) , Hyderabad Versus Mr. Venugopal Reddy

Unexplained cash deposits found to be made in the bank account - CIT(A) deleted the addition - Held that - In the submissions made before the Ld. CIT(A), a reference was made by the assessee only to his bank account with Development Credit Bank Ltd. .....

2015 (10) TMI 314 - ITAT HYDERABAD

Asst. Commissioner of Incometax, Circle – 1 (1) , Tirupathi Versus M/s Sagar Sugars and Allied Products Pvt. Ltd.

Depreciation on energy saving devices - CIT(A)reversed the order of the AO on this issue and allowed the claim of assessee for depreciation 80 - Held that - The issue involved in the appeal of revenue is squarely covered in favour of assessee by the .....

2015 (10) TMI 313 - ITAT CHENNAI

The Deputy Commissioner of Income Tax, Company Circle II (2) , Chennai Versus Shri Sunil G. Duseja

Reopening of the assessment - Held that - Section 147 clearly says that if the Assessing Officer has reason to believe that the income chargeable to tax has escaped assessment for any assessment year, he may issue notice under Section 148 of the Act .....

2015 (10) TMI 312 - ITAT DELHI

Panasonic Consumer India Pvt. Ltd. Versus Deputy CIT, Circle 14 (1) , New Delhi

Addition on account of arm s length price under sec. 92CA(3) - whether marketing and selling expenses like trade discount etc. are not AMP expenses? - Held that - We find that the Hon ble jurisdictional High Court of Delhi in the case of Sony Ericsso.....

2015 (10) TMI 311 - ITAT CHENNAI

T. Mathimaran Versus The Deputy Commissioner of Income-tax, Circle-I, Tirunelveli.

Revision u/s 263 - assessee has not made TDS on granite export expenses for ocean freight charges - Held that - Regarding the shipping charges, there is a Circular issued by the CBDT No.723 dated 19.9.1995 states that where the provisions of sec.172 .....

2015 (10) TMI 310 - ITAT JODHPUR

M/s. Bharat Tractors Pvt. Ltd. Versus DCIT, Circle-I, Bikaner

Disallowance of denting & painting and job charges expenditure - Held that - In the present case, it is noticed that the assessee explained the reason for increasing the expenses which was mainly due to warranty scheme and no recovery was made in.....

2015 (10) TMI 309 - ITAT COCHIN

SRO, Muvattupuzha Versus The DIT (Interlligence) Kochi-11

Maintainability of appeal against the order levying penalty under section 274 read with section 271FA of the Act - Penalty for failure to furnish annual information return - delay of 24 days in filing the appeal - Held that - Nowhere in section 253 m.....

2015 (10) TMI 308 - ITAT AHMEDABAD

C. Doctor India Pvt. Ltd. Versus Assistant Commissioner of Income Tax (OSD) , Range-1, Ahmedabad

Disallowance of Employees Contribution to Provident Fund and Employees State Insurance Contribution paid belatedly - delays in payments ranging from two days to nine days from the due date of payments including grace period - Held that - In view of t.....

2015 (10) TMI 307 - ITAT HYDERABAD

Dy. Commissioner of Income tax, Circle – 3 (3) , Hyderabad Versus M/s Universal Realtors Pvt. Ltd., Hyderabad

Method of accounting - income recognition - Addition made on estimation basis by AO on construction of housing projects - assessee a company is engaged in the business of real estate development and construction - Held that - Identical estimation of .....

2015 (10) TMI 306 - ITAT LUCKNOW

M/s Rotomac Global (P) Ltd Versus Dy. C.I.T

Disallowance u/s 14A read with Rule 8D(ii) and 8D(iii) - Held that - None of the judgments cited by the Learned A.R. of the assessee is rendering any help to the assessee. Moreover, the only explanation of the assessee regarding source of fund used f.....

2015 (10) TMI 305 - ITAT JODHPUR

Shri Chhitar Singh Shekhawat, C/o. M/s. Mertia & Company Versus ITO Sumerpur

Revision u/s 263 - payment of hire charges on mixtures and rollers - Held that - Adverting to the facts of the given case, we are convinced that this case was selected for scrutiny under CASS (Scheme) for a limited purpose. However, he has made his o.....

2015 (10) TMI 304 - ITAT HYDERABAD

Dy. Commissioner of Income tax Versus M/s. Andhra Pradesh Power Generation Corporation Ltd.,

Interest income allegedly accrued at the rate of 15 on delayed payments made by the DISCOMs - CIT(A) deleted the addition - Held that - Having regard to the facts of the case including especially the absence of any clause in the relevant agreement fo.....

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