Rights of an auction-purchaser in the property

 13 January 2014

Rights of an auction-purchaser in the property purchased by him cannot be extinguished. Exceptions: In cases where the said purchase can be assailed on the following grounds: 1. Collusion 2. Fraud

Posted in Property Law |    0 comments |   1809 hits


Account of disallowing warrant cost & warranty cost for computing the book profit u/s 115JBV of IT Act

 06 January 2014

This is a set of two revenue’s appeals for A.Y. 2004-05 and 2005-06 on the quantum assessment and the corresponding cross-objections by the assessee. Revenue has also filed appeal against deletion of penalty u/s 271(1)(c) for A.Y. 2005-06.

Posted in Others |    0 comments |   737 hits


Ascertained liability allowable under the mercantile system of accounting (Principle of Consistency)

 31 December 2013

The assessee is a Company and is engaged in the business of manufacturing of white crystal sugar. It filed its return of income on 25.11.2006 declaring total income of Rs.1,01,251/-. The Ld.AO complete the assessment u/s 143(3) on 31.12.2008 determin

Posted in Others |    0 comments |   818 hits


Penalty proceedings and assessment proceedings are two distinct and independent proceedings

 14 December 2013

In brief the facts are that in this case return of income was filed by the assessee declaring a loss of Rs. 19,906/-. The assessment was completed by the A.O. u/s 143(3) of the I.T.Act at an income of Rs. 12,42,412/- by making following disallowance

Posted in Taxation 3 comments |   2105 hits


Non-disclosure of amount in the balance of loans and advances (sec 154 for making such addition is not postulated)

 12 December 2013

This appeal has been preferred by the Revenue against the order of Commissioner of Income Tax(A)-III, New Delhi dated 1.11.2012 in Appeal No. 619/11-12/C.I.T.(A)-III for AY 2005-06

Posted in Others |    0 comments |   1320 hits


Nonproduction of receipts of expenditure incurred on maintaining the corporate entity

 09 December 2013

This appeal by the Revenue is directed against the order of the Ld. Commissioner of Income Tax (Appeals)-VII, New Delhi dated 24.6.2011 pertaining to assessment year 2008-09

Posted in Others |    0 comments |   931 hits


Quashing order passed by the CIT(A) "without providing the opportunity of being heard" to assessee

 05 December 2013

A brief analysis of the study depicts that though the assessee was proceeded ex-parte, the learned CIT(A) has not decided the matter on merits.

Posted in Others |    0 comments |   1301 hits


Disallowing the deduction claimed as amount paid towards gratuity fund for which approval from the concerned CIT is pending

 27 November 2013

The assessee is in appeal against the order dated 16.09.2009 passed by the ld. CIT(A) in the matter of an assessment made by the AO u/s. 143(3) of the Income Tax Act, 1961, (“the Act”) for the A.Y. 2004-05.

Posted in Others |    0 comments |   1481 hits


Expenses incurred by the assessee to maintain its corporate entity are allowable

 22 November 2013

This appeal by the Revenue is directed against the order of the Ld. Commissioner of Income Tax (Appeals)-VII, New Delhi dated 24.6.2011 pertaining to assessment year 2008-09.

Posted in Others |    0 comments |   1284 hits


Disallowance of Expenditure & Business Expenditure

 21 November 2013

This is assessee’s appeal against CIT(A)’s order dated 2-07- 2012 relating to A.Y. 2008-09. Various grounds are raised, which in effect raise following issues: (i) disallowance of expenditure; and (ii) disallowance of business expenditure.

Posted in Others |    0 comments |   957 hits


Application for maintenance (U/S 24-HMA) has to be decided first before an order for filing WS is passed against the applicant

 24 October 2013

It is very unfortunate litigation between the husband/petitioner and wife/respondent who are Advocates of the Supreme Court and of this Court. They got married on 25th January, 1996. However, in the year 2004, the husband, who is the petitioner herei

Posted in Others 2 comments |   4842 hits


Allowability of sponsorship expenses in the absence of comment of AO in the original order

 30 September 2013

On the facts and in the circumstances of the case, the ld.CIT(A) has erred in annulling the re-assessment proceedings u/s 147 on the basis of change of opinion by the AO on the issue of ‘allowability of Sponsorship Expenses’ even when the AO did not

Posted in Taxation |    0 comments |   1671 hits


Order passed on non submission of document for reason beyond of control can be restored on submission

 28 September 2013

We have heard both the parties and carefully gone through the orders of the authorities below. On perusal of assessment order, we find that the assessment has been completed under sec. 143(3) of the Act. Notices under sec. 143(2) and/or under sec. 14

Posted in Taxation |    0 comments |   2293 hits


In the absence of necessary and relevant fact some questions are unanswered

 27 September 2013

Whether on the facts and in the circumstances of the case, the assessee company is a financial company under the Interest Tax Act, 1974, liable to tax there under and if yes, then which portion of the income/receipts of the assessee company can be co

Posted in Taxation |    0 comments |   1375 hits


Computation of deduction u/s 80HHC on profit available after reducing deduction allowed u/s 80IB

 23 August 2013

It was fairly conceded by the Ld.AR of the assessee that the issue involved is covered against the assessee by the decision of the special bench of the Tribunal rendered in the case of ACIT vs. Hindustan Mint & Agro Products Pvt. Ltd., as reported in

Posted in Taxation |    0 comments |   2067 hits


Chargeability of Fringe Benefit Tax on channel placement charges

 22 August 2013

In all these three appeals by the assessee, the only ground raised is about the chargeability of Fringe Benefit Tax (FBT) on channel placement charges. The amount of channel placement charges paid by the assessee in the years under appeal is as under

Posted in Taxation |    0 comments |   1416 hits


Application for admission additional evidence citing proper reason cannot be rejected

 22 August 2013

Ld. Counsel for the assessee contends that assessee’s assessment in question was framed u/s 143(3) making various additions alleging that assessee could not file necessary evidence ignoring the fact that sufficient time was not given to the assessee.

Posted in Taxation |    0 comments |   2369 hits


Appeal treated as un admitted under rule 19 can recall after explaining the reason for non compliance

 16 August 2013

This case was listed for hearing before the Tribunal on 15-4-2013 and for this assessee was informed. Today i.e. on 15-4-2013 when the case was called on board, none appeared on behalf of the assessee nor any request for adjournment has been filed

Posted in Taxation |    0 comments |   1043 hits


Violation of SEBI Act is a criminal offence

 14 August 2013

In September, 1991, an investment of Rs.65 crores came to be made by four subscribers, who applied for purchase of CANCIGO units floated by (Canbank Mutual Fund (hereinafter referred to as ‘CMF’), a fund created by Canara Bank. The Andhra Bank and An

Posted in Criminal Law |    0 comments |   1623 hits


Provision of section 9(1)(vi) of IT Act 1961 on royalty on sale of software

 13 August 2013

The assessee has impugned action of learned Dispute Resolution Panel (‘DRP’) confirming the additions proposed by the Assessing Officer in the draft assessment order as against the returned income by holding that the revenue earned by the assessee fr

Posted in Taxation |    0 comments |   1582 hits










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