The brief facts of the case are that assessee is a trust. It has filed its return of income for assessment year 2008-09 on 30th September, 2008 declaring nil income. According to the Assessing Officer, the assessee trust was created by the settler Sh..
Facts giving rise to the commission of the offence by the appellants and their eventual conviction have been set out in the judgment under appeal which need not be recounted again especially because notice in this appeal was issued by us limited to t..
Briefly stated assessee is in the business of manufacturing of Tocopherol Vitamin-E and mixed Tocopherol. AO completed the assessment under section 143(3) disallowing the expenditure claim at `.62,62,182/- and depreciation of `.16,11,204/- on the rea..
The assessee is an individual who is the Managing Director of Cadence Design Systems India Pvt.Ltd. For the AY 2004-05, he filed a return of income at `1,75,05,081/- comprising of salary income at `1,02,72,400/- from Cadence Design Systems India Pvt...
Section 41(1) has been incorporated in the Act to cover a particular facts situation. Section applies where a trading liability was allowed as a deduction in earlier years in computing the business income of the assessee and the assessee has obtained..
Briefly stated, assessee filed return of income declaring total income at `1,57,02,407/- mainly consisting of capital gains. Assessee surrendered its tenancy rights and received an amount of `4,12,00,000/-. Out of this amount assessee has invested an..
If the party, at whose instance the reference is made, fails to appear at the hearing, or fails in taking steps for preparation of the paper books so as to enable hearing of the reference, the court is not bound to answer the reference..
On the facts and in the circumstances of the case and in law the ld. CIT(A) failed to appreciate that expenses of Rs.4,13,52,970/- was not incurred by the assessee wholly and exclusively for the purpose of its own business. On the facts and in t..
Facts, in brief, as per relevant orders are that return declaring nil income after adjusting brought forward loss of ``10,74,016/-. under the normal provisions and book profits of `8,67,496/- in terms of the provisions of section 115JB of the Income-..
Briefly stated, assessee is an Actress and showed gross receipts of `30,92,000/- in her income expenditure statement. She has shown an amount of `35,75,000/- as advance received. AO on noticing that assessee is following cash system of accounting bro..
After informing that matter will be heard on a particular date, no one appeared on behalf of assessee. Nor there is any application for adjournment. In view of above, it appears that assessee is not interested in prosecuting this appeal. Hence this a..
For that in the facts and circumstances of the case the assessment order passed was in violation of principles of natural justice hence is bad in law and be quashed. (2) For that in the facts and circumstances of the case the learned Assessing Office..
My attention has been drawn to Section 204 of the Code of Criminal Procedure and it has been argued that no reasons for summoning an accused person need be given. I feel that under Section 204 aforesaid, a Magistrate has to form an opinion that there..
The main fact of the case is that there is no provision in section 115JB to allow deduction under section 54EC of the Act. Computation of book profit is provided under section 115JB, which is a separate code by itself, wherein the first step is to co..
The facts filed before the first appellate authority indicate that the assessee was retired from Ministry of Defence as Defence Estate Officer long back, from where he was getting his pension. After retirement he had started his own business of sale ..
That on facts and in law, the CIT(A) erred in upholding disallowance of additional depreciation to the tune of Rs. 4,05,12,853 and Rs. 1,52,73,164 on plant and machinery and tippers respectively without appreciating that the appellant was engaged in ..
We find that the AO has not given any reason for disallowing the claim. We also find that the AO has simply followed the findings of earlier assessment years. As similar additions in earlier assessment year has been deleted by Ld. CIT(A) which has be..
Whether on the facts and in the circumstances of the case, the learned CIT(A) was correct in holding that consultancy fees paid to Singapore based foreign company were not chargeable to tax in India, as well as the applicability of section 40(a)(ia) ..
The learned counsel for the assessee at the very outset submitted that in the immediately preceding assessment years, Assessing Officer has accepted the existence of PE as well as the profit attributable to such PE. Hence, income of the assessee has ..
Having regard to Rule 19(2) of ITAT Rules, 1963 and following various decisions of the Tribunal including in the case of CIT vs. Multiplan India (P) Ltd., reported in 38 ITD 320 (Del.) and the judgment of Hon’ble Madhya Pradesh High Court in the case..
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