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Income Tax - High Court - Case Laws

Showing 61 to 80 of 46609 Records

  • 2018 (5) TMI 715

    Stay petition - recovery of demand - unconditional stay - Held that - The object of grant of interim order is to preserve status-quo and not to make the appellate remedy infructuous or illusory. This principle cannot be straight away applied to Revenue matters, where a slight departure is required to be adopted. As pointed out earlier, the petitioner miserably failed to substantiate their contention that they are unable to mobilise funds to compl....... + More


  • 2018 (5) TMI 714

    Leviability of interest u/s. 158BFA(1) - whether from what date interest under section 158BFA(1) of the Income TAx Act, 1961 is leviable? - Tribunal upholding the interest u/s. 158BFA(1) even for the period of delay in filing the return of income, caused due to delay in obtaining copies of the seized materials from the Income Tax Department, which was beyond the control of the appellant? - whether the levy of such interest for a period of 21 mont....... + More


  • 2018 (5) TMI 713

    Admit on the following substantial question of law - - (i) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that the provisions of Section 50C of the Act does not come into operation where leasehold rights in land are transferred? - As no appeal had been filed by the Revenue for the order of the Tribunal in the case of Atul Puranik (2011 (5) TMI 576 - ITAT, Mumbai) which had held that sec....... + More


  • 2018 (5) TMI 702

    Nature of receipt - revenue or capital - subsidy allowed by the State Government on account of power consumption - purpose of the scheme under which such incentive or subsidy is made available to a business unit - scope of purpose test - Held that - When an entrepreneur sets up a business unit, particularly a manufacturing unit, or embarks on an exercise for expanding an existing unit, the entrepreneur factors in the cost of setting up the unit o....... + More


  • 2018 (5) TMI 701

    Revision u/s 263 - denial of principle of natural justice - appellant had not been served any notice prior to such order being made and that the appellant was not afforded any opportunity of hearing before the commissioner passed the relevant order - addressed to a defunct entity and not to successor-in-interest - Held that - It was imperative for the appellate tribunal to address the issue since a previous opportunity of hearing is necessary to ....... + More


  • 2018 (5) TMI 640

    Cancellation of Registration u/s 12AA(3) - Tribunal set aside the cancellation - Held that - In the present facts, we find that the Tribunal has rendered a finding of fact that the respondent is not carrying on any activity in the nature of trade, commerce or business to be hit by the proviso to Section 2(15) of the Act. This finding of fact has not been shown to be perverse in any manner. Thus, in the present facts, the question for consideratio....... + More


  • 2018 (5) TMI 639

    Reopening of assessment - valid service of notice - serving notice to the Chartered Accountant (CA) - Change of address in the PAN - service of notice on the address given in the ITR returned with the mark as left - burden of proof that notice was issued - period of limitation - Held that - Burden to establish that notice under Section 149(1)(b) read with Section 148(1) has been issued to the petitioner was on the Revenue which the Revenue has fa....... + More


  • 2018 (5) TMI 638

    Deduction u/s 80-IB denied - appellant did not file its return for the relevant assessment year within the period prescribed u/s 139(1) - non filing return on time - seeking extension of time - Held that - When the governing provision expressly mandates that no such deductions shall be allowed unless the assessee filed his returns of income on or before the due dates specified under Section 139 (1), there is no question of referring to the extend....... + More


  • 2018 (5) TMI 637

    MAT - making adjustments for working the book profit u/s 115JB by adding the Advance Against Depreciation (AAD) to the book profit? - Held that - We are of the considered view, which fact is not disputed, that the same are squarely covered by the judgment in National Hydroelectric Power Corporation Ltd. vs. Commissioner of Income Tax(2010 (1) TMI 281 - SUPREME COURT) as held AAD was an income received in advance. It was a timing difference. There....... + More


  • 2018 (5) TMI 636

    Rate of depreciation on printers - to be allowed at normal rate or at enhance rate @60% - whether the printers would be included within the term computer as contained in old Appendix I Clause III(5)? - entry in the depreciation table specifically says, computers including computer software - Held that - It is a claim for depreciation and if two views are possible, one which is in favour of the assessee should be preferred. Going by the usage of t....... + More


  • 2018 (5) TMI 635

    Addition made for the broken period as undisclosed income - Estimate of proportionate income on the basis of the income disclosed for the AY 1999-2000? - double taxation for same block assessment year - Held that - It may not be necessary for us to decide the questions of law involved in these Appeals, when the apprehension of the assessees being, they should not be taxed twice for the same block assessment period. Thus, it would be sufficient fo....... + More


  • 2018 (5) TMI 634

    Review petition - mistake or error apparent - appeals have been decided taking into account the issue of depreciation of assets and other grounds have not been considered - Held that - When the appellant has not addressed this Court on the issue, this Court has passed an order on the issue of depreciation of assets. There is no error apparent on face of record warranting review. - Apex Court in the case of Haridas Das Vs. Usha Rani Bank (Smt) and....... + More


  • 2018 (5) TMI 593

    Rectification application - admission of additional documents - Held that - The Tribunal s observation in the impugned order made in the course of the rectification application i.e. that an order, allowing an application for early hearing, is merely administrative, is clearly incorrect. See Olympia Paper And Stationery Stores. Versus ACIT 1997 (3) TMI 157 - ITAT MADRAS-A - As far as the placing on record of the additional documents is concerned, ....... + More


  • 2018 (5) TMI 592

    Reopening of assessment - reasons to believe - unexplained investment - farm house was allotted to the petitioner company by NOIDA Authority - failure to disclose fully and truly all material facts - Held that - The reasons to believe incorrectly record that the assessee had made undisclosed investment and had failed to disclose the same for the assessment year 2010-11. During the year in question, the assessee had paid premium to the NOIDA Autho....... + More


  • 2018 (5) TMI 591

    Reopening of assessment - period of limitation - consideration of petitioner s objections - Held that - As agreed position between the parties that the order disposing of the objections dated 1st November, 2017 be set aside and the petitioner s objections be restored to the Assessing Officer for fresh consideration and disposal in accordance with law. The petitioners are at liberty to file additional submissions / objections to the reasons in sup....... + More


  • 2018 (5) TMI 590

    Attachment of bank accounts - Petitioner seeks refund of the amount of the amounts in excess of 20% of the tax demand consequent to the Assessment Order being retained by the Revenue - Held that - In the present facts, as the order of the Assessment for Assessment Year 2014-15 was passed on 29th December, 2016 under Section 143(3) of the Act. - A notice under Section 156 of the Act was also served on that date upon the Petitioner. Thus, time to p....... + More


  • 2018 (5) TMI 589

    Requirement to deposit 20% of the disputed demand amount - Held that - Order set-aside for the reason that no speaking order is passed by the authorities while directing the petitioner-assessee to deposit 20% of the demand amount, mechanically referring to CBDT instruction No.1914 dated 21-03-1996. - In the light of the judgment of this Court in the case of Flipkart India (P.) Ltd.,(2017 (3) TMI 802 - KARNATAKA HIGH COURT), the Income Tax Officer....... + More


  • 2018 (5) TMI 517

    Maintainability of appeal - petition barred by limitation - Held that - Petitioner s right conferred under the provisions of the Act to file an appeal should not be foreclosed on technicalities. To avoid all technical objections being raised and to secure the interest of revenue, this court is inclined to issue the appropriate directions. - 9. In the result, the writ petition is disposed of by directing the petitioner to file a proper appeal peti....... + More


  • 2018 (5) TMI 516

    Depreciation on Wind Mills already adjusted against the profits of Printing Business artificially carried forward for the impugned assessment year for the purpose of denial of relief u/s 80IA - Held that - In the assessee s own case, for the earlier assessment year, an identical issue was considered 2016 (7) TMI 1232 - MADRAS HIGH COURT as relying on decision in Velayudhaswamy Spinning Mills (P) 2010 (3) TMI 860 - Madras High Court Tribunal has n....... + More


  • 2018 (5) TMI 446

    Orders passed u/s 201(1)/201(1)(A)- two demand notices called upon the petitioners to pay the demands for the AY 2016-17 and 2017-18 consequent to the orders within a period of seven days. This without giving any reasons for curtailing the statutorily available period of 30 days in terms of Section 220 - Revenue objects to the petition being entertained as the impugned orders dated 7th February, 2018 are appeallable to the Commissioner of Income ....... + More


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