Home Highlights September 2012 Year 2012 This

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1. Reassessment u/s 147 - deduction u/s 80IB(10) - validity of reasons - petitioner had produced full accounts inter-alia shown separately sum from sale of car parking also...

2. Unexplained investments - There is no positive and credible evidence brought on record by the revenue to establish the allegation of cash payment over and above the...

3. Depreciation on sample flat - number of days asset used - the revenue has allowed the claim of 50% of the depreciation claimed by the assessee in the first year when the...

4. Unexplained cash credit u/s 68 - sham transaction - Revenue authorities referred and relied on material and statements of various broker or entry operator recorded or...

5. Deduction u/s 80IB - whether freight charges recovered from the customers are eligible for deduction under section 80IB ? - since the department has allowed the claim of...

6. Offence under FEMA - Distinction between the two stages of the adjudication process - The reasons are the bridge between the material on record and the final decision....

7. Validity of re-assessment proceedings initiated u/s.148 - If the reasons recorded are silent or there is no reference of any material, then other extraneous material...

8. Deduction u/s. 80IB(7B) - Even if separate books of account are not maintained for convention centre, if the assessee is in a position to show the true and correct...

9. Deduction u/s 80IB(10) - there could be no presumption that surrendered amount would represent business income unless and until assessees satisfies the authorities below...

10. Difference in receipt shown in the Profit & Loss account and as per TDS certificate - the facts on record clearly show lack of proper enquiry by the Assessing Officer....

11. Bad debts - the assessee has not placed on record before the lower authorities to show that it debtors were not in a position to pay the debts or have refused for...

12. Addition relating to shifting of profits made - AO has not brought any material on record to show that the assessee had received back corresponding amount equivalent to...

13. Deduction u/s 80IB(10) - cut of date for claiming deduction u/s 80IB(10) - No provision under the Municipal Corporation Act of Maharashtra Government was shown to us,...

14. Estimation of commission income - unaccounted cash found during the search - AO has not brought any material on record to show higher commission income earned by the...

15. Clandestine manufacture - tobacco snuff - It is found that to manufacture snuff of huge quantity, other raw material/packing material also required but no such evidence...