Contact us   Feedback   Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2015 (7) TMI 1116 - ITAT MUMBAI

2015 (7) TMI 1116 - ITAT MUMBAI - TMI - Assessment made u/s. 153A - additions to income - Held that:- It is an undisputed fact that there was no incriminating material found during the search for making the impugned disallowances/additions. See Continental Warehousing Corporation and All Cargo Global Logistics ltd [2015 (5) TMI 656 - BOMBAY HIGH COURT ] - Decided in favour of assessee. - I.T.A. Nos. 2383, 2384 & 2385/Mum/2011 - Dated:- 16-7-2015 - SHRI A.D. JAIN, JUDICIAL MEMBER AND SHRI N.K. BI .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

brevity. 2. The Ld. Counsel for the assessee stated that ground No. 1 in all these appeals challenges the jurisdiction of the Officer for making an assessment u/s. 153(A) of the Act. It is the say of the Ld. Counsel that this issue has been decided in favour of the assessee and against the Revenue by the Hon ble Jurisdictional High Court in the case of CIT Vs (1) Continental Warehousing Corporation and (2) All Cargo Global Logistics ltd., 374 ITR 645. The Ld. Counsel further stated that if the o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

rried out on this group on 6.9.2007. The search/survey actions resulted into seizure and impounding of documents, loose papers and other material evidencing the irregularities relating mainly to international tax. 4.1. The assessment for A.Y 2002-03 was completed by disallowing bad debts claimed ₹ 8,76.448/-, depreciation on goodwill ₹ 35,39,132/-, depreciation on commercial vehicles-Rs. 5,33,790/- and Staff/ other welfare expenses at ₹ 3,05,508/-. Assessment for A.Y 2003-04 wa .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version