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2015 (7) TMI 107 - ITAT CHENNAI

The Assistant Commissioner of Income Tax, Circle II, Trichy Versus M/s. Atlas Export Enterprises

Entitlement for claiming higher depreciation - Held that - Consedering the decision in the case of CIT v. Hi Tech Arai Ltd. 2009 (9) TMI 60 - MADRAS HIGH COURT directed the Assessing Officer to allow additional depreciation as claimed by the assessee.....


2015 (7) TMI 106 - ITAT CHANDIGARH

M/s Kudu Industries, Versus The J.C.I.T. (OSD) , Circle - 1,

Disallowance of interest under the provisions of section 36(1)(iii) - Held that - We find support from the ratio laid down by the Mumbai Bench of Tribunal in DCIT Vs MTZ Polyfilms Ltd. (2013 (3) TMI 459 - ITAT MUMBAI ) wherein it has been proposed th.....


2015 (7) TMI 105 - ITAT AHMEDABAD

Shree Chargam Dasha Porwad Versus Director of Income Tax

Registration u/s.12AA and 80G(5) refused - There is no dissolution clause in the trust-deed and trust does not have any clause that the trust will not be dissolved and it is a perpetual trust - Held that - This issue of refusing registration in the a.....


2015 (7) TMI 104 - ITAT NAGPUR

Sanjay Nagorao Paidlewar, Nitish Rameshchandra Chordia Versus. ACIT Central Circle 2 (2) ,

Sale of agricultural land - distance of the agricultural land from the municipal limits of city - whether agricultural land in question is not a capital asset as per Section 2(14)(iii)(a) and (b) and surplus arising on sale of the same is not liable .....


2015 (7) TMI 103 - ITAT MUMBAI

M/s Asgard Properties Pvt. Ltd Versus. ITO 9 (1) (1)

Computation of Long Term capital loss - indexation from 24-02-1994 or from 14-02-1999 - Assessing Officer computed loss at ₹ 37,21,902/- by restricting indexation from 1999 i.e. the date of possession 14-2-1999 - Held that - There is no dispute.....


2015 (7) TMI 102 - ITAT MUMBAI

Shri Manish D. Innani Versus. ACIT, Range 4 (1) ,

Disallowance under Section 14A r.w.r. 8D - Held that - While dealing with the issue AO has not considered various factors and has not given any finding about them. Assessee had claimed that borrowed fund of ₹ 3.5 Crores were not used for invest.....


2015 (7) TMI 91 - SUPREME COURT

OIL & NATURAL GAS CORPORATION LIMITED Versus COMMISSIONER OF INCOME TAX & ANOTHER.

Taxability of Amounts paid by the ONGC to the non-resident assessees /foreign companies for providing various services in connection with prospecting, extraction or production of mineral oil - Fees for technical services under Section 44D read with E.....


2015 (7) TMI 90 - SUPREME COURT

Oil & Natural Gas Corporation Limited Versus Commissioner Of Income Tax & Another

Purport and effect of exemption notification bearing No.GSR 307(E) dated 31.03.1983 issued under Section 24AA of the Surtax Act - Held that - Section 24-AA of the Surtax Act was brought into the statute book by Act 16 of 1981 i.e. Finance Act, 1981 w.....


2015 (7) TMI 89 - HIGH COURT OF MADHYA PRADESH

Commissioner of Income-tax Versus. Shabbir Hussain Pithawala

Measurement of distance of the agricultural land - Held that - Distance of the agricultural land belonging to the assessee within the meaning of s. 2(14)(iii)(b) has to be measured in terms of the approach by road and not by the straight line distanc.....


2015 (7) TMI 88 - Bombay High Court

The Commissioner of Income Tax Versus Vidhi Builders.

Appeal is ADMITTED on the following substantial questions of law- br br I) Whether on the facts and in the circumstances of the case and in law, the ITAT failed to consider the fact that the area of the plot for Vidhi Complex is below 1 acre and as s.....


2015 (7) TMI 87 - IITAT JAIPUR

M/s. Rajasthan Patrika (P) Ltd. Versus The Addl. CIT Range-5 & ACIT, Circle- 5, Jaipur

Disallowance of Sales promotion and publicity expenses - Held that - Facts about assessee s regular maintenance of accounts, their non-rejection, diverse business activities, contentions, applicable case laws and past litigation history is narrated i.....


2015 (7) TMI 86 - ITAT BANGALORE

The Joint Commissioner of Income Tax (LTU) , Bangalore Versus M/s. Vijaya Bank, M/s Vijaya Bank Versus The Addl. Commissioner of Income Tax (LTU) , Bangalore

Deduction u/s.36(1)(viia) - AO disallowed claim for deduction as greater than the amount debited to the profit and loss account as provision - CIT(a)deleted the addition - Held that - The creation of a special reserve u/s.32A or Sec.36(1)(viii) of th.....


2015 (7) TMI 85 - ITAT AMRITSAR

M/s Apeejay Education Society, Versus. Commissioner of Income

Registration u/s 12AA(3) withdrawn - genuineness of purchase of software or mere accommodation entry - validity of statement of various persons recorded during investigation - Held that - In the present case, the activities of the assessee-trust whic.....


2015 (7) TMI 84 - ITAT AHMEDABAD

The D.C.I.T., Circle-1 (2) , Baroda And Others Versus Jyoti Ltd. Nanubhai Amin And Others

Disallowance employees (staff) contribution to Provident Fund which were not paid on due dates - CIT(A) deleted the addition - Held that - The contribution of provident fund and ESIC not being paid before the due dates and in the absence of any contr.....


2015 (7) TMI 83 - ITAT DELHI

M/s New Okhla Industrial Development Authority Versus Assistant Commissioner of Income Tax, Circle-1, Noida

Reopening of assessment - whether the assessment framed without issuing the notice u/s 143(2) of the Act is a valid assessment? - Held that - Where notice u/s 143(2) of the Act is not issued to the assessee before framing the assessment u/s 143(3) of.....


2015 (7) TMI 82 - ITAT CHENNAI

R. Sundararajan Versus The Deputy Commissioner of Income Tax, Company Circle, Tirupur

Reopening of assessment - Held that - Assessing Officer in the assessment order has not discussed the issue of interest from investment to M/s. S.P. Apparels Limited Ltd. The Assessing Officer while recording the reasons has formed an opinion that ex.....


2015 (7) TMI 81 - ITAT DELHI

M/s Bausch & Lomb India Pvt. Ltd. Versus DCIT, Circle 4 (1) , New Delhi

Transfer pricing adjustment - selection of comparable - AMP expenses - Held that - Before the PLI determined at entity level is to be taken as the determining factor of bench marking various international transactions along with the AMP expenditure, .....


2015 (7) TMI 80 - ITAT LUCKNOW

DCIT-6 Kanpur Versus M/s Man Singh & Sons Jewellers Pvt. Ltd.

Addition to the income of the appellant in respect of 4 gold diamonds - Held that - In the light of the rival submissions and the order of the Tribunal in the case of Income Tax Officer vs. Shri. Gopal Verma, Kanpur we find that the explanations furn.....


2015 (7) TMI 79 - ITAT DELHI

Casio India Company Pvt. Ltd. Versus DCIT, Circle 3 (1) , New Delhi.

Addition on account of transfer pricing adjustment towards Advertising, Marketing and Promotion (AMP) expenses - Held that - No detail of the AMP functions performed by the assessee is available on record. Similarly, there is no reference in the orde.....


2015 (7) TMI 78 - ITAT DELHI

ITO, Ward- 24 (1) , New Delhi Versus Late Shri Asha Dalmia

Valuation of the property - CIT(A) has upheld the valuation made by Registered Valuer and discarded the DVO Report relied by the AO - Held that - CIT(A) rightly repells the said reasoning of the DVO and opined that the valuation by the Registered Val.....


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