Taxation Judgements

Displaying 40 - 50 of 1292 in 130 pages

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

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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

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

 21 June 2013

Non presense of the appellant without taking adjournment.

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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.

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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

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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

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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

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Power of Tribunal under Rule 19 of Appelllate Tribunal Rule 1963

 10 June 2013

The appeal was originally fixed for hearing on 10.9.2012 on which date assessee’s counsel took date and the case was adjourned to 17.1.2013. On 17.1.2013, again counsel of the assessee took adjournment and case was fixed for 22.5.2013 i.e. today. Nob

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Non prosecution may cause dismissed the appeal

 08 June 2013

The appeal was originally fixed for hearing on 10.9.2012 on which date assessee’s counsel took date and the case was adjourned to 17.1.2013. On 17.1.2013, again counsel of the assessee took adjournment and case was fixed for 22.5.2013 i.e. today. Nob

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Provision made after deducting TDS is allowed subject to the basis of making provision

 07 June 2013

In this case the assessee is a Company and is engaged in the business of manufacturing and selling of building materials. During the course of assessment Assessing Officer observed that it was noted from the details of commission on sales that there

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