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Income Tax - High Court - Case Laws

Showing 81 to 100 of 46647 Records

  • 2018 (5) TMI 959

    Recovery of house tax - Petitioner-institution being a charitable organization as exempted from payment of house tax - Held that - No substance in the submissions of the learned counsel for the petitioner nor the counsel for the petitioner produced any material to support his contention that only because of having the exemption from payment of income tax being the charitable trust under Section 12-A of the Income Tax, the petitioner is entitled t....... + More


  • 2018 (5) TMI 903

    Deduction u/s 36(1)(viia) - double deduction - same advances made for all previous years leading to multiple deductions in every assessment year - Tribunal allowed deduction - Held that - Clauses (a) and (b) in Rule 6ABA cannot be given the restricted interpretation. The amounts of advances as outstanding at the last day of each month would be a fluctuating figure depending on the outstanding as increased or reduced respectively by advances made ....... + More


  • 2018 (5) TMI 902

    Unexplained money in the bank accounts of the assessee - addition relying upon the brought forward balance for the subsequent assessment year based on the closing cash on hand of the preceding assessment year - Held that - Adjudication on the opening cash in the subsequent assessment year would not arise. If the opening cash in hand is to be modified considering the arguments of the Revenue, it would certainly have an impact on the closing cash i....... + More


  • 2018 (5) TMI 853

    Reopening of assessment - deduction u/s 10A - Held that - AO can reassess but not review. See CIT v. Kelvinator of India Ltd. 2010 (1) TMI 11 - SUPREME COURT OF INDIA - The higher total income of ₹ 2,49,52,270/- found by the AO was assessed on the basis of reduced profit resulting from sales return. Sales return was the cause, as per the assessee, the effect of which was reduction in the profit figure qualifying for deduction under the prov....... + More


  • 2018 (5) TMI 808

    Income accrued in India - technical service charges payable to the foreign company in Germany constitute - Fees for technical services - whether constitutes business profit of the foreign company and that the same was not taxable in India? - PE in India - Indo German DTAA - Held that - In the facts of the present case in terms of the DTAA, payments made to Lufthansa may not be liable to tax in India in terms of Article III of the DTAA, yet their ....... + More


  • 2018 (5) TMI 807

    Addition u/s 68 - Held that - In the present case, the balance-sheets or the accounts of the applicants for shares were not furnished by the assessee. On the contrary, the assessee purported to rely on similarly-worded affidavits apparently produced from the persons whose existence was doubted at every stage by the authorities. - It is curious that 21 share applicants would write identical letters to the two proprietorship concerns of the princip....... + More


  • 2018 (5) TMI 806

    Addition u/s 68 - assessee not liable to establish source of the source or the credit worthiness of the source of the source - Held that - A clear cut finding and accordingly the ground relating to addition of ₹ 28 lakhs of the assessee has been dealt with while deciding Revenue s appeal, and deletion of ₹ 12 lakhs was confirmed. - In respect of unsecured loan taken by the assessee from Shree Shyam Polymers, this depositor has shown m....... + More


  • 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


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