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 |   1196 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 |   1278 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 |   837 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

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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 |   833 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 |   765 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 |   990 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 |   3200 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 |   899 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 |   1161 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 |   781 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 |   1510 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 |   3841 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 |   650 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 |   1004 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 |   954 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 |   1232 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 |   1925 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 |   1471 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 |   1937 hits










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