Facts in brief:- The assessee is a Private Limited Company. It filed its return of income on 26.9.2009 declaring a loss of Rs.26,498/-. The assessee company had dividend income of Rs.41,82,220/-, which claimed as exempt under Section 10(34) of the In
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Category: Taxation | on 03 January 2013 | 3648 hits | More
the facts and circumstances of the case and in law, the Ld. CIT(A) has grossly erred in rejecting the appeal filed by the appellant against the assessment order dated 23 December, 2009 by alleging non appearance of the appellant and assuming that the
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Category: Taxation | on 02 January 2013 | 2173 hits | More
The brief facts of the case are that the assessee is a company engaged in the business of manufacture and trade in colour TVs, air-conditioners, refrigerators, microwave oven, washing machine, compressors, vacuum cleaners etc. It emerges out from the
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Category: Taxation | on 30 November 2012 | 4703 hits | More
Facts, in brief, as per relevant orders are that return declaring income of ``1,12,277/- beside agricultural income of ``1,05,000/-,filed on 9th July, 2007 by the assessee, was selected for scrutiny with the service of a notice u/s 143(2) of the Inco
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Category: Taxation | on 30 November 2012 | 1819 hits | More
The assessee has questioned first appellate order on several grounds involving two issues. Firstly as to whether the Ld. CIT(A) has erred in upholding the action of the AO in treating and apportioning the entire foreign traveling expenses of Rs. 19,4
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Category: Taxation | on 29 November 2012 | 2466 hits | More
Despite sending notice by the registered post AD sufficiently in advance, assessee did not appear nor any request for adjournment has been received. The notice has also not been received back unserved. Therefore, it is inferred that assessee is not i
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Category: Taxation | on 29 November 2012 | 2962 hits | More
Impugned order of 31st May, 2011 upholds petitioner’s eviction from ground floor and mezzanine floor of premises No.12/90 at Cannaught Place, New Delhi (henceforth referred to as the ‘subject premises’). Respondent- a nationalized bank had purchased
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Category: Civil Law | on 28 November 2012 | 3436 hits | More
Fact of the case is depreciation on block of asset.
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Category: Taxation | on 28 November 2012 | 1395 hits | More
In support of ground No. 3 the Ld. AR submitted that the counsel of the assessee had been appearing before the Ld. CIT(A) to cooperate with the first appellate authority and only on 15.3.2010 the counsel of the assessee could not appear before the Ld
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Category: Taxation | on 28 November 2012 | 639 hits | More
During the year the assessee company had raised unsecured loans of ` 96,65,438/-, the source of which remains unverified in view of the facts that no details with regard to the same is available. Hence, the same are disallowed and added back to the i
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Category: Taxation | on 27 November 2012 | 740 hits | More
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