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2015 (9) TMI 239 - SUPREME COURT

Commissioner of Income Tax-VIII, New Delhi Versus Suman Dhamija

Monetary limit for filing an appeal - Tax effect less than the prescribed limit instructions dated 9.2.2011 Held that - It is not a matter of dispute, that all the appeals were preferred prior to 2011, whereas, the instructions dated 9.2.2011 clearly.....


2015 (9) TMI 238 - DELHI HIGH COURT

Cheminvest Limited Versus Commissioner of Income Tax-VI

Disallowance under Section 14A - whether disallowance can be made in a year in which no exempt income has been earned or received by the Assessee? - Held that - In the present case, the factual position that has not been disputed is that the investme.....


2015 (9) TMI 237 - DELHI HIGH COURT

Commissioner of Income Tax-20 (Erstwhile CIT-XII) Versus Smt. Priyanka Singhania

Validity of assessment u/s 153A - Whether any proceedings at all could have been initiated against the Assessee/respondent under Section 153A without there being a search warrant in her name issued in terms of Section 132 read with Rule 112 of the In.....


2015 (9) TMI 236 - BOMBAY HIGH COURT

The Commissioner of Income Tax-I, Pune Versus Bramha Bazar Hotels Ltd.

Revision u/s 263 - Assessing Officer had allowed the assessee s claim of deduction on account of premium paid on buyback of shares by merely assuming the facts, without applying his mind as per CIT(A) - Held that - Assessing Officer as well as the Tr.....


2015 (9) TMI 235 - DELHI HIGH COURT

Commissioner of Income Tax, (Central-II) Versus Mayank Traders (P) Ltd.

Validity of assessment u/s 153A framed on a non-existent entity - ITAT referring to the decision of CIT v. Vived Marketing Services Pvt. Ltd. (2009 (9) TMI 917 - Delhi high court) which held that an assessment could not be validly framed on a non-exi.....


2015 (9) TMI 234 - DELHI HIGH COURT

COMMISSIONER OF INCOME TAX (CENTRAL-II) Versus IMAGES CREDIT AND PORTFOLIO PVT. LTD.

Validity of proceedings u/s 153A - notice was issued under Section 153C on a date when the noticee has ceased to exist in the eyes of law - ITAT quashed proceedings - Held that - De hors the decision in Spice Enfotainment Ltd. (2011 (8) TMI 544 - DEL.....


2015 (9) TMI 233 - KERALA HIGH COURT

The Commissioner of Income Tax, Trichur Versus M/s. Kerala Sponge Iron Ltd.

Assessment of profit from commodity trading as cash credit under Section 68 - set off of current years business loss as well as brought forward losses/unabsorbed depreciation against the income assessed - transactions showing generation of commodity .....


2015 (9) TMI 232 - UTTARAKHAND HIGH COURT

Guru Nanak Education Trust Versus Union of India And Others

Application seeking approval under Section 10(23-C)(VI) rejected - Held that - Prescribed authority has to ascertain whether the educational institution has been applying its profit wholly and exclusively to the objects for which the institution is e.....


2015 (9) TMI 231 - BOMBAY HIGH COURT

The Commissioner of Income Tax-II, Pune Versus M/s. Kharade Patil

Reopening of assessment - whether the Tribunal erred in holding that the issue of notice u/s 148 was bad in law as the proceedings initiated were merely on the change of opinion? - whether the facts that the issue of completion of project was never b.....


2015 (9) TMI 230 - CALCUTTA HIGH COURT

COMMISSIONER OF INCOME TAX, KOLKATA-IV Versus ALCOVE INDUSTRIES LIMITED

Reverse of ex parte order passed by ITAT - whether such change of opinion is sustainable in law? - Held that - Admittedly Paper Book filed by the appellant does not contain the Miscellaneous Petition filed by the respondent before the Tribunal for re.....


2015 (9) TMI 229 - CALCUTTA HIGH COURT

C.I.T. KOLKATA XV Versus TARA CHAND MAHIPAL

Addition u/s 69 - Unexplained investments - ITAT deleted the addition - Held that - AO has made the addition merely on the basis of papers seized from the possession of K.K.Mahipal, the assessee s brother. Save and except the said papers, the Assessi.....


2015 (9) TMI 228 - CALCUTTA HIGH COURT

COMMISSIONER OF INCOME TAX, KOLKATA IV Versus HARSH VARDHAN NEOTIA

Revision u/s 263 - CIT(A) setting aside the order passed by AO wherein he allowed interest paid in respect of income by way of dividend exempt under section 10(34) against taxable income, contrary to the provisions of section 14A of the Act - ITAT se.....


2015 (9) TMI 227 - CALCUTTA HIGH COURT

COMMISSIONER OF INCOME TAX Versus BINANI INDUSTRIES LTD.

Validity of reopening of assessment - non deduction of TDS - Whether the power under Section 148 was exercised by the Assessing Officer due to any change of opinion or the income had really escaped assessment was essentially a question of fact - cont.....


2015 (9) TMI 226 - GUJARAT HIGH COURT

JINKAL DINESHBHAI VIRVADIYA Versus DIRECTOR OF INCOM TAX & 1

Jurisdiction under section 132A to continue to seize the cash - writ prayed directing the respondents to release cash of ₹ 32,64,560/- with interest at the rate of 15 per annum from the date of seizure till the date of payment - Held that - Whe.....


2015 (9) TMI 225 - ITAT AHMEDABAD

Assistant Commissioner of Income-tax, Anand Circle, Anand Versus Emtici Engineering Ltd., and Others

Disallowance u/s 40(a)(ia) - Non deduction of TDS u/s 194J - tax deducted under wrong provision - CIT(A) deleted disallowance - Held that - The issue under consideration is squarely covered in favour of assessee by the decision of CIT(A) vs. M/s. S. .....


2015 (9) TMI 224 - ITAT AHMEDABAD

ACIT, Ahmedabad Circle-1, Ahmedabad Versus M/s. Arvind Ltd and Vica-Versa

Disallowance of depreciation - CIT(A) allowed the claim - Held that - It is to be seen that the CIT(A) has only restored the issue back to the Assessing Officer for factual verification as to whether the assesssee has already considered the very depr.....


2015 (9) TMI 223 - ITAT DELHI

Sardhana Papers Pvt. Ltd. Versus CIT, Aayakar Bhawan, Meerut

Validity Revision u/s 263 by CIT(A) - Held that - Commissioner exercising the powers u/s 263 cannot shirk the legal mandate of pointing out the error in the assessment order coupled with the requirement to point out that the error is prejudicial to t.....


2015 (9) TMI 222 - ITAT DELHI

ACIT, Circle II, Faridabad Versus M/s. N.H.P.C. Limited

Disallowance of provision for gratuity and other benefits since they are contingent in nature while computing book profit u/s 115JB - Held that - The Tribunal for assessment year 2002-03 order 2010 (10) TMI 1022 - ITAT DELHI has considered an identic.....


2015 (9) TMI 221 - ITAT DELHI

Lodhi Property Company Ltd. Versus ACIT, Circle 4 (1) , New Delhi

Penalty u/s 271(1)(c) - assessee has claimed expenses during the Assessment Year 2005- 06 on account of fee paid to ROC, depreciation, Umaid Bhawan Palace Project cost written off and other expenses in Assessment Year 2005-06, and claim of depreciati.....


2015 (9) TMI 220 - ITAT DELHI

DCIT, Circle-4 (1) , New Delhi Versus M/s Leroy Somer & Controls (India) P. Ltd. and Vica-Versa

Disallowance of expenditure of Additional discount/rate difference - appellant has not furnished any evidence to support its claim - Held that - It is for the assessee to concide as per its agreements and the law in force. However whether on facts, i.....


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