Provisions of Article 335 of the Constitution

 13 August 2013

Although the matter is now before a Bench of five Judges, the terms of reference are not very clear. From what we have been able to gather from the pleadings and the judgment of the Division Bench of the High Court, the question to be considered is w

Posted in Constitutional Law |    0 comments |   1947 hits


The reversal of provision during the year cannot be once again added to the income

 10 August 2013

Briefly stated the facts of the case are that the appellant is a company engaged in the business of manufacturing of auto catalyst. For assessment year 2005-06, the appellant filed its return of income on 31.10.2005, declaring a total income of Rs.12

Posted in Taxation |    0 comments |   1806 hits


Charging of interest under section 234B and 234D and rate of depreciation differ asset to asset

 08 August 2013

The Ld. DRP and the Ld. AO (following the directions of the Ld. DRP), erred both on facts and in law in confirming the addition to the extent of Rs. 3,83,76,374/- to the income of the appellant out of the total addition of Rs.5,49,44,194/- as propose

Posted in Taxation |    0 comments |   1014 hits


Provision of software service and marketing support service as per order passed under section 92CA(3) read with section 144C(5) of the Act

 06 August 2013

These are assessee’s appeals against assessment orders dated 31.10.2011 for A.Y. 2007-08 and dated 19.10.2012 for A.Y. 2008- 09.passed by the assessing officer u/s 143(3) after seeking directions from DRP u/s 144C(13) of the Income-tax Act, 1961 (“

Posted in Taxation |    0 comments |   692 hits


Interest paid is treated as compensatory and allowed under section 37(1)

 05 August 2013

Facts in brief:- The assessee company is engaged mainly in the business of manufacture and sale of auto parts. During the year under reference the assessee company was in the process of setting up a plant for manufacturing of various auto components

Posted in Taxation |    0 comments |   1598 hits


Provision of section 69A of IT Act 1961 for unexplained cash

 03 August 2013

On the facts and in the circumstances of the cazse and in law, the Ld. Commissioner of Income Tax (appeals) has erred in confirming the penalty of Rs.6,89,620/- u/s 271(1) (c) ignoring the facts that in the quantum proceeding the appellant has alrea

Posted in Taxation |    0 comments |   1038 hits


Bank statement reflects the payment and TDS certificate is enough to proof the payment

 02 August 2013

Brief facts of the case are that in the relevant assessment year, the assessee company was engaged in the business of Export of Readymade Garments. The assessee had filed its return of income declaring total income of Rs. 3,63,33,946/-. In the course

Posted in Taxation |    0 comments |   1187 hits


Income cannot be excluded from taxation by an internal arrangement

 01 August 2013

The brief facts of the case are that return of the assessee was selected for scrutiny. The assessee had declared income from house property, share of profit, remuneration from one firm and income from other sources. In this case AIR information was r

Posted in Taxation |    0 comments |   753 hits


Registration under section 80G of Income Tax Act

 01 August 2013

Vide this appeal, the assessee has raised its objections against denial of registration u/s 80G of the Income Tax Act, 1961. At the outset, the Ld. AR invited our attention to appellate order passed by ITAT, Delhi Bench-F in ITA No.1707 vide order da

Posted in Taxation |    0 comments |   1279 hits


Calculation of Deduction under section 80HHC

 30 July 2013

That the Ld. Commissioner of Income Tax (A) has erred in law and on the facts by allowing relief of Rs. 13,58,98,217/- by holding that the Transfer Pricing Officer’s (TPO) action of apportionment of Global Cricket Council contribution in the ratio of

Posted in Taxation |    0 comments |   737 hits


Rule 10 B (1)(e)(i) does not suggest that the ‘costs’ would mean the FOB value of goods in transfer pricing calculation

 29 July 2013

That the learned Additional Director of Income Tax, Transfer Pricing Officer-II(2), New Delhi (Ld. TPO)/ Ld. AO have erred both in law and on facts in making an addition of Rs.3,97,10,488/- on account of alleged understatement of arm’s length price i

Posted in Taxation |    0 comments |   653 hits


Expenditure relatable to current year can claim as deduction

 27 July 2013

These appeals are preferred by the assessee against separate orders of CIT(A) in quantum assessment and penalty imposed u/s 271(1)(c) of the Income-tax Act, 1961, relating to assessment year 2007-08. First we shall take ITA No. 843/Del/2011 against t

Posted in Taxation |    0 comments |   878 hits


Provision of Section 80IA on inter unit and intra unit transfer

 26 July 2013

The assessee is a company and is engaged in the business of manufacture of fertilizers, chemicals, soya oil etc. It manufactures and sells single super phosphate, Sulphuric Acid in its three fertilizers unit situated at Nimrani (MP), Jhansi (UP) and

Posted in Taxation |    0 comments |   2874 hits


Assessee is not responsible for wrong certificate issued by other party

 25 July 2013

The Ld. CIT(A) has erred on facts and in law and on facts in deleting addition of Rs. 1,93,660/- on account of difference in cash deposit in bank account and cash sales, ignoring the cash deposits in bank account exceeded cash sales and the assessee

Posted in Taxation |    0 comments |   810 hits


Deposit and withdrawal of cash in regular interval is enough to prove that assessee is engage in business

 24 July 2013

I have considered the submission of the appellant and gone through the balance sheet, trading and profit loss account and cash flow statement. The Assessing Officer has considered the business income to the extent of Rs.5,990/- on the basis of tradin

Posted in Taxation |    0 comments |   1086 hits


Deduction under section 10B availed subject to condition of 10 years from the date of first availment

 24 July 2013

The brief facts of the case are that assessee company has purchased an existing unit being run by M/s Motherson Sumy Systems Limited (for short MSSL). A part of the business of M/s MSSL comprising of an undertaking which was engaged in manufacturing

Posted in Taxation |    0 comments |   717 hits


Provision of section 11(4A) is applicable subject to condition of maintaining separate accounts

 22 July 2013

Brief fats are: The assessee is a charitable Society, registered u/s 12A of the I.T. Act and runs Sanskriti School, at Chankya Puri, New Delhi. Assessment order for assessment year 2007-08 was passed on 4-9-2009 by allowing exemption u/s 11, assessin

Posted in Taxation |    0 comments |   1184 hits


Depreciation cannot be claimed without use of asset in the business

 19 July 2013

The assessee is a private limited company. During the year, it was engaged in the business of import, export, trade and otherwise deal in food, canned and tinned processed foods and foodstuffs and consumable provisions for human or animal consumption

Posted in Taxation |    0 comments |   2962 hits


Without highlighting any adverse evidence absence at the time of passing order , order cannot be set-aside

 18 July 2013

The brief facts of the case are that return of income was filed on 09.02.2006, declaring Nil income. As per assessment order, the assessee is registered u/s 12A and is also availing the benefit of section 80-G. The trust was made on 24th day of Octob

Posted in Taxation |    0 comments |   553 hits


As per section 68, the onus on the assessee only to explain the source of found credited in the books of accounts

 17 July 2013

That on the facts and circumstances of the case, the Ld. CIT (Appeal) was not justified in confirming the addition of Rs.30,00,000/- on account of unsecured loan on mechanical basis even though all transactions in the account are by account payee che

Posted in Taxation |    0 comments |   884 hits










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