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


When a quasi Judicial Authority like the DRP deals with lis u/s 144C of the Act then it is obligatory

 16 July 2013

A perusal of the record shows that the assessee furnished a return electronically on 30.11.2006 by declaring NIL income and claimed a refund of Rs.41.04.516/- out of TDS and self assessment tax. On the basis of selection of case under scrutiny notice

Posted in Taxation |    0 comments |   845 hits


TDS and service tax deducted and paid and properly incorporated in accounts is enough to prove the transaction

 15 July 2013

On the facts and in the circumstances of the case, the CIT(A) erred in deleting the disallowance of commission paid amounting to Rs. 16,80,000/-. On the facts and in the circumstances of the case, the CIT(A) erred in deleting the addition made u/s 69

Posted in Taxation |    0 comments |   1041 hits


Order passed based on notice under section 143(2) beyond stipulated period is bad in law

 13 July 2013

That CIT(A) has erred in law in not appreciating that notice issued and served under section 143(2) of the Income Tax Act is beyond the stipulated period and order passed in pursuance to such notice is without jurisdiction and bad in law.

Posted in Taxation |    0 comments |   1786 hits


Order passed without adequate opportunity to asseesse is not valid

 13 July 2013

This is an appeal filed by the assessee against the order of Ld CIT(A) dated 4.10.2010. The grounds of assessee was not afforded a reasonable opportunity of showing cause against enhancement.

Posted in Taxation 1 comments |   1052 hits


Whether Section 8(4) of Represntation of the People Act 1951 is ultra vires the Constitution

 13 July 2013

These two writ petitions have been filed as Public Interest Litigations for mainly declaring sub-section (4) of Section 8 of the Representation of the People Act, 1951 as ultra vires the Constitution.

Posted in Constitutional Law 1 comments |   1427 hits


Deduction under section 80HHC before amendment of Taxation Law is eligible

 29 June 2013

That on the facts & circumstances of the case of the appellant the order of the Learned CIT(A) in disallowing deduction of Section 80HHC on total sale proceeds of DEPB instead of Profit as mentioned in Section 28(iii) of the Income Tax Act, 1961 is h

Posted in Taxation |    0 comments |   1694 hits


Assessment of income received by minor as gift

 25 June 2013

We have heard the arguments of both the sides and perused the material placed before us. The facts of the case are that both the assessees are minor children of Shri Kamal Piyush. During the accounting year relevant to the assessment year under consi

Posted in Taxation |    0 comments |   901 hits


If the loan taken by the company is already offered as income as trading receipt cannot be taxed again as undisclosed

 24 June 2013

Ground Nos.1 to 4 of the assessee’s appeal are against the reopening of assessment under Section 147 of the Income-tax Act, 1961. In the assessment order, the Assessing Officer has recorded that in this case, the original return furnished by the asse

Posted in Taxation |    0 comments |   812 hits


Addition cannot be made by ignoring the accounting procedure

 24 June 2013

The return of income was filed on 31.03.2008 declaring income at Rs.1,01,784/-. The assessment was finalized u/s 143(3) on 29.12.2009 by making an addition of Rs.12,84,516/- on account of bogus sundry creditors and Rs.48,540/- on account of concealed

Posted in Taxation |    0 comments |   875 hits


Applicability of Rule 19(2) of ITAT Rules, 1963

 21 June 2013

Non presense of the appellant without taking adjournment.

Posted in Taxation |    0 comments |   781 hits


Applicability of TDS provision on payment made for hiring buses

 20 June 2013

The CIT(A) has erred on facts and in the law in cancelling the order dated 14.6.2011 passed by the ACIT (TDS), Noida and in directing that provisions contained in sec. 194C is applicable on the payment made by M/s Container Corporation of India Ltd.

Posted in Taxation |    0 comments |   3017 hits


Computation of arm’s length price for royalty

 18 June 2013

That on the facts and circumstances of the case and in law, the ld.CIT(A) has erred in holding that the TPO was not justified in including other income with regard to computation of arm’s length price for royalty

Posted in Taxation |    0 comments |   989 hits


As per explanation 3D inserted in Section 43B interest converted into loan shall not be deemed to have been actually paid

 18 June 2013

We have heard the arguments of both the sides and perused the material placed before us. The penalty has been levied in respect of the two disallowances made by the Assessing Officer under Section 43B:- (i) Disallowance of interest amounting to `7

Posted in Taxation |    0 comments |   1054 hits


Presence of reasonable cause for being unable to file the information is valid to allow appeal

 13 June 2013

This is an assessee’s appeal. The following norms are raised at the outset. Learned counsel for the assessee contends that assessee is a civil contractor, regularly assessed tax. During this year 18 creditors having calculated outstanding amount of R

Posted in Taxation |    0 comments |   764 hits










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