Taxation Judgements

Displaying 60 - 70 of 1292 in 130 pages

Realisation of shares cannot be treated as commission

 13 May 2013

On the facts and in the circumstances of the case, the ld.CIT(A) has erred in deleting the addition of Rs.15,00,000/- made by the Assessing Officer u/s 68 of I.T.Act, 1961 in respect of unexplained cash credits without appreciating the fact that the

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Long term capital gain under section 50C of the Income Tax Act

 11 May 2013

That on the facts and in the circumstances of the case, the Assessing Officer had erred in invoking provision of section 50C of the I.T. Act thereby computing the long term capital gain at Rs. 74,15,381/-. The Ld. Commissioner of Income Tax (A) is al

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Absence without application for adjournment can treat the appeal dismisses

 10 May 2013

However at the time of hearing, no one was present on behalf of the assessee. The appeal was passed over twice. Despite the same, neither the assessee was present nor any request for adjournment has been placed before the Bench. The record shows that

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Intimation u/s 143(1) cannot be disturbed subject to the reason recorded by AO

 09 May 2013

Brief facts of the case are that assessee was running a proprietary business as whole seller at Nainital. It had filed its return of income declaring total income of Rs. 1,90,000/-. The Assessing Officer, vide order sheet entry dated 19th August, 200

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AO cannot make any addition without giving adequate opportunity to assessee

 08 May 2013

The assessee has raised various grounds in its appeal. However, at the time of hearing before us, the main contention of the learned counsel for the assessee was for setting aside the matter to the file of the Assessing Officer or the CIT(A). He subm

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Reopening of the assessment under Section 148

 07 May 2013

On the facts and circumstances of the case the ld.CIT(A) erred in deleting the addition of Rs.2,26,248/- made on account of jewellery by ignoring that no investment in jewellery was disclosed and no wealth tax return was filed. On the facts and circu

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If issue set aside by ITAT further appeal on same subject is deemed to be set aside subject to the condition

 06 May 2013

However, at the time of hearing before us, it was pointed out by the learned counsel that the learned CIT(A) had allowed only part relief and, therefore, against the addition sustained at `3,45,914/-, the assessee had filed appeal before the ITAT. Th

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Limit of Tax effect for filling appeal before Tribunal applicable for all pending appeal

 04 May 2013

We draw the attention of the ld. DR regarding the tax effect on the deletion of addition of Rs.9,05,643/- which is less than Rs. 3.00 lakh. This position is admitted by the ld. D.R. Therefore, as per the Instruction No. 3/2011 dated 09.02.2011 the re

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Whether Revenue’s appeal is general in nature and needs no adjudication

 03 May 2013

On the facts and in the circumstances of the case, the ld.CIT(A) has erred in law and facts in deleting the addition of Rs.4,070302/- made by the AO on account of disallowance of car maintenance expenses.”

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Absence of interest for prosecution may cause for dismissal

 02 May 2013

The appeal was fixed for hearing on 21.11.2011 when the case was adjourned at the request of the assessee’s counsel to 22.03.2012. Thereafter, the Bench did not function and the hearing was fixed on 25.07.2012. On 25.07.2012, the matter was adjourned

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