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Income Tax - High Court - Case Laws

Showing 61 to 80 of 47289 Records

  • 2018 (8) TMI 208

    Claim of agricultural income - revision petition - Whether assessee failed to appreciate the evidence available on record by traversing beyond the scope of the records and against the findings given by the various statutory and judicial authorities as also the admissions made in the remand report by the assessing officer? - Held that - The order passed by the Tribunal is verbatim repetition of the findings of the Assessing Officer in its order da....... + More


  • 2018 (8) TMI 207

    Reopening of assessment - bogus expenditure - Held that - No doubt, each assessment year is to be seen differently; however, the note from the investigation unit talks of a pattern of expenditure claims over a five-year period. Three of those years were dealt with; the assessee emerged unscathed. Given these circumstances, this is clearly a case where the revenue is attempting to fish from the same stale pond, when it dipped into the TEP as the b....... + More


  • 2018 (8) TMI 206

    Search operation u/s 132 - unexplained cash found - uncompleted assessment proceedings - interest demand - Held that - In the present case, assessment proceedings are yet to be completed. Further, the search and seizure operation was carried out not only at the business premises of the petitioners but also at the banks in which they had their accounts and in those accounts huge unexplained cash was deposited by the petitioners. - The entire unexp....... + More


  • 2018 (8) TMI 205

    Reopening of assessment - reason to believe - share application moneys were received - Held that - The material on records show that in all the relevant circumstances in which share application moneys were received by the assessee, the circumstances were explained and all the evidence in support of its contentions was furnished to the AO. - In the present case, this Court is of the opinion that apart from that consideration, the reassessment noti....... + More


  • 2018 (8) TMI 204

    Entitlement of the assessee for deduction 80P - adjustments made by the Assessing Officer u/s 143(1)(a) - whether Tribunal was justified in holding that entitlement of the assessee for deduction 80P of the Act is not relevant for charging addition Tax u/s 143(1A)? - Held that - From the perusal of provisions of Section 143(1A), it is clear that the additional income tax is chargeable if the loss declaration by the assessee is reduced as a result ....... + More


  • 2018 (8) TMI 203

    Funds received in the form of share premium - AO taxed the amounts so received under Section 56(2)(viib) - section 68 applicability - Held that - Any premium received by a Company on sale of shares, in excess of its face value; if the Company is not one in which the public has substantial interest, would be treated as income from other sources, as seen from Section 56(2)(viib) of the Act, which we do not think can be controlled by the provisions ....... + More


  • 2018 (8) TMI 202

    Eligible profit for deduction u/s 10A - restriction of eligible profit for deduction u/s 10A on the basis of transfer pricing order - Held that - As held by the Tribunal in the case of Visual Graphics 2017 (2) TMI 1208 - ITAT CHENNAI the AO to apply the provisions of 10A(7) r.w.s 80(i)(a)(10) of the Act, has to independently come to the conclusion that the assessee has entered into the transaction with its AE to claim higher deduction. In the cas....... + More


  • 2018 (8) TMI 201

    TPA - comparable selection - ALP - substantial question of law or fact - Held that - The controversy involved herein is no more res integra in view of the decision of this Court in M/S. SOFTBRANDS INDIA P. LTD. 2018 (6) TMI 1327 - KARNATAKA HIGH COURT , wherein it has been observed that unless the finding of the Tribunal is found ex facie perverse, the Appeal u/s. 260-A of the Act, is not maintainable....... + More


  • 2018 (8) TMI 200

    Assessment u/s 153A - Whether a loss return filed within the time specified in the notice under Section 153A(1)(a) is required to be treated as a return filed in accordance with the provisions of Section 139(3) for the purpose of carrying forward of the loss in terms of Section 72 read with Section 80? - Held that - A definitive final order cannot be passed without being sure of the date of issuance of the notice under Section 153A(1)(a) of the A....... + More


  • 2018 (8) TMI 199

    TPA - comparable selection of M/s. Dolphin Medical Services Pvt. - Held that - Tribunal s finding that M/s. Dolphin Medical Services Pvt. Ltd., is to be included as a comparable to determine the ALP of the Respondent-Assessee, is a finding of fact. This finding of fact is not shown to be perverse in any manner. - Risk adjustment - grievance of the Revenue is that no details were provided by the Respondent to the DRP on account of risk adjustment ....... + More


  • 2018 (8) TMI 198

    Claim under Section 80G - charitable purpose - Held that - In the present case, there were never a case set up of a donation made to the trust. The claim was made of business expenditure which was later altered to one of a donation to the trust. The purpose of the activity for which the fund is applied does not change with the change of the provision under which the claim for deduction is raised. The fund was applied for the air-conditioning of a....... + More


  • 2018 (8) TMI 197

    Suppression of net profit - admission of additional ground - Held that - This is not a case where the Tribunal has decided a ground which was never raised by the Revenue, a suggestion which is otherwise made by the petitioner but we are unable to accept. The fact that the Revenue moved with great speed need not be conclusive. How long that the arguments last, merely because it was the group of appeals which was listed at serial Nos. 1 to 18 argum....... + More


  • 2018 (8) TMI 196

    Exemption u/s 11 - charitable purpose - Whether promotion of sports and games can be considered to be charitable purpose? - Held that - The contention which has been raised pursuant to the observations and amendment which is made under Section 12AA of the Income Tax Act and proviso which is impressed by the counsel for the department and Section 2(15) of the Act and proviso to Section 12AA which has been amended w.e.f. 1.4.2009 which has been int....... + More


  • 2018 (8) TMI 135

    Reopening of assessment - sanctioning/ permission to issue notice under Section 148 - notice not been granted by the Additional Commissioner of Income Tax - Held that - It is undisputed position before us that in terms of Section 151(2) the sanctioning/ permission to issue notice under Section 148 has to be issued by the Additional Commissioner of Income Tax. We find that the AO had not sought the approval of the Designated Officer but of the Com....... + More


  • 2018 (8) TMI 134

    Capital gain - transfer of land within the meaning of Section 2(47)(v) - Held that - This issue now stands concluded in favour of the Respondent-Assessee and against the Appellant-Revenue by the decision of the Apex Court in CIT v/s. Balbir Singh Maini 2017 (10) TMI 323 - SUPREME COURT OF INDIA held that in terms of Section 2(47)(v) of the Act, transfer of any immovable property in part performance of a contract of the nature referred in Section ....... + More


  • 2018 (8) TMI 133

    Failure to pay the employees contribution under the Employees Provident Funds and Miscellaneous Provisions Act, 1952 and the Employees State Insurance Act, 1948 before the due date provided under the said enactments - Held that - The learned Judges had elaborately considered the decision in Alom Extrusions Ltd. 2009 (11) TMI 27 - SUPREME COURT and has found the provisions having application in different fields. Section 43B(b) dealt with the emplo....... + More


  • 2018 (8) TMI 132

    Disallowance of Project Monitoring Expenses and Erection and Commissioning Charges - assessee failed to specify the reason of less profit before the A.O. in the year under consideration although turnover went up substantially as compared to previous year - ITAT deleted addition - Held that - Having heard learned counsel on behalf of the appellant, we do not see any substantial question of law, as arising out from the order, as projected. Conseque....... + More


  • 2018 (8) TMI 63

    Cancellation of bid (Sole bidder) at the auction held - auction / sale of property by the Income Tax department (CBDT) - Held that - In the present facts, it cannot be said that action of the Respondent No.2 in issuing the impugned letter dated 4.5.2018 is arbitrary or in violation of Article 14 of the Constitution of India. The answer to the question to be posed as laid down by the Supreme Court in Michigan Rubber (I) Ltd 2012 (3) TMI 512 - SUPR....... + More


  • 2018 (8) TMI 62

    Attachment orders - priority to dues - initiation of liquidation proceedings - priority in appropriation of the amounts set aside by the liquidator for clearance of the tax dues - Sale transaction effected by the fifth respondent - Held that - The first respondent cannot claim any priority merely because of the fact that the order of attachment dated 27.10.2016 issued by him was long prior to the initiation of liquidation proceedings under the Co....... + More


  • 2018 (8) TMI 61

    Withdrawal of approval granted by the first respondent Union Commerce Ministry under the Industrial Park Scheme 2002 and Section 80IA - the notification (No. 21/2014) dated 27.03.2014 withdrawing the earlier approval given by another notification (dated 09.02.2007) - Held that - In the present case, there does not appear to have been any prior opportunity; even the written submissions given to the committee was not considered or adverted to. The ....... + More


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