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 |   1961 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 |   2554 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 |   1647 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 |   2316 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 |   1629 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 |   2904 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 |   1250 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 |   1880 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 |   1959 hits


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 |   2714 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 |   3479 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 |   1246 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 |   862 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 |   2378 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 |   1419 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 |   1374 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 |   930 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 |   1543 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 |   1023 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 |   860 hits










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