Commissioner of Income Tax (Central), Kanpur Versus M/S Sahara India (Firm)
Capital receipt or revenue receipt – financial schemes in which deposits were collected from the Public - Held that:- Following Commissioner of Income Tax vs. Sahara Investment India Limited [2003 (11) TMI 57 - ALLAHABAD High Court] - No part of the ......
Commissioner of Income Tax –I Versus Mohammad Khaleeq Commercial Taxes
Applicability of section 292BB – Held that:- Notice was served after 1.4.2008 i.e., after the date of incorporation of Section 292BB of Income Tax Act - CBDT Circular No.549 of 1989 concedes that if the assessee after furnishing the return of income ......
B. Gopiram & Co. (P) Ltd. Versus Income Tax Officer
Bad debts or business loss – Held that:- The assessee miserably failed to prove that the present transaction was in the nature of a `business transaction' - The amount given as advance was never given with the intention of doing any business in "real ......
Director of Income Tax (Exemption) Versus Rampurji Gaushala Seva Trust
Dissolution clause in Trust deed – Exemption u/s 80G - Held that:- Earlier exemption certificate was granted to the assessee / trust which was valid for the period from 23rd May 2001 to 31st March 2004 - For the purpose of the exemption certificate u ......
Commissioner of Income Tax II Versus Meghmani Organics Ltd.
Penalty u/s 271(1)(c)- Held that:- When the addition has been set aside in the quantum appeal, there is no question of levy of penalty under section 271(1)(c) of the Income Tax Act - Decided against Revenue. ......
Commissioner of Income Tax Versus Satvara Education Foundation
Registration u/s 12AA – Held that:- In view of the magnitude of the income in the previous year relevant to assessment year under appeal, the charitable activities carried out cannot be called as low magnitude – The assessee trust is in the first yea ......
Rajendra J. Patel Versus Asstt. CIT (OSD)
Penalty u/s 271(1)(c) – Set off of business loss - Held that:- Due to bonafide mistake of the Tax Consultant of the assessee, the claim of set off of carry forward business loss was made against the income from other source during the year under cons ......
Commissioner of Income Tax II Versus Kantibhai Revidas Patel
Unaccounted investment –Held that:- During the search carried out in the case of one Shri Vikas A. Shah agreement to sell of the land was found - Third party statement of Vikas A. Shah was used without allowing cross examination of third party which ......
The Commissioner of Income Tax Versus Amoli Organics (P) Ltd.
PF and ESIC – Belated payments – Held that:- Following Commissioner of Income Tax Vs. Alom Extrusions Ltd, reported in [2009 (11) TMI 27 - SUPREME COURT] - The assessee was entitled to the exemption as the amount was paid during grace period permissi ......
Dy. Director of Income Tax (International Taxation)-1 And Others Versus M/s. A. P. Moller C/o Maersk India Pvt. Ltd. And Others
Taxability of freight receipts – Held that:- The assessee firm is the managing owner and in that capacity only, it manages the affairs of these two companies for which it is remunerated as per the relevant terms agreed between the parties - It cannot ......
VODAFONE CELLULAR LIMITED VERSUS SSISTANT COMMISSIONER OF INCOME TAX
No deduction of tax certificate – Held that:- The application made by the petitioner under Section 197 has been rejected without giving details as to the outstanding demand and as to whether the petitioner's case falls within the scope of section 197 ......
The Income Tax Officer Versus Smt. Aarti Mittal And Others
Long term capital gain - Purchase and sale of shares – Genuine transaction or not – Held that:- Following Arun Kumar Agarwal (HUF) & Others [2012 (8) TMI 398 - JHARKHAND HIGH COURT] - Where the share broker was found involved in unfair trade practice ......
NetHawk Network s India Private Limited Versus The Income Tax Officer
Transfer pricing adjustments - TPA - ALP - Selection of five additional companies arbitrarily – Held that:- The TPO is very much within the statutory limitations in picking up the data for the last three years including that of the current year (AY 2 ......
Metro & Metro versus Additional Commissioner of Income-tax
Leather testing charges – paid to non-resident - Tax not deducted at source - Held that:- Following Channel Guide India Ltd. v. ACIT [2012 (9) TMI 95 - ITAT MUMBAI] – The law cannot cast the burden of performing the impossible task of performing tax ......
ROBINSON IMPEX (INDIA) LTD VERSUS INCOME TAX OFFICER
Provision for bad debts or trading loss – held that:- claim of bad debts which is a provision made in the books of account not allowed - Regarding claim of trading loss, . If a bad debt cannot be allowed as a deduction on the general commercial princ ......
No comments:
Post a Comment