None appeared on behalf of the assessee when the appeal was called for hearing nor any request for adjournment was filed. Earlier also none appeared on behalf of the assessee on 21.2.2012. In these circumstances, it , therefore, appears that the asse..
The case of the petitioners in W.P.(C.) No. 2775/2012 is that petitioner No. 1 Global Vectra Helicorp Ltd. (herein referred to as Global Vectra) is a company registered under the Companies Act, 1956. Petitioner No. 2 is a Citizen of India and working..
As per the case of the prosecution, the petitioners, who are stated to be the Directors of M/s Sunair Hotels Limited, approached M/s VLS Finance Limited around December, 1994 with a proposal to finance a hotel project likely to be set up in Gol Marke..
The facts of the case for assessment year 2003-04 are that the assessee filed its return on 28.11.2003 showing total income of ` 2,45,83,770/-. The assessee is tax - resident of the USA and it is earning income of the nature of the royalty from Yum R..
At the threshold, we note that tax effect in this case is less than `3 lacs fixed by the CBDT for filing appeal before the tribunal. As per Instruction No. 3/2011 (F.No. 279/Misc./142/2007-ITJ) dated 09.02.2011 issued by the CBDT, the tax effect for ..
The petitioner submits that both Shri N.A. Palkhivala and Shri D.S. Seth are no more and therefore the arbitration clause in the agreement does not survive. It was pointed out that Shri N.A. Palkhivala was named in the agreement since he was the Chai..
Brief facts of the case explained below: The assessee moved applications u/s 12A(1)(aa) and U/s 80G(5)(vi) of the Income Tax Act. The applications were accompanied by a copy of trust deed dated 27-12-2010 to the CIT, Rohtak on 9-3-2011. CIT calle..
From the observation of the Judgment we can find the fact that the interest paid by the assessee on borrowed fund can claim as deduction only if the fund is utilized for business purpose...
The submission of learned ASG Sh. A.S. Chandhiok, firstly, is that a perusal of the impugned order shows that the CIC has equated donations made by the President with subsidy, which is not the case. It is also submitted that the learned CIC has not d..
This appeal of the assessee is directed against the order passed by the CIT (A)- IV, New Delhi, dated 17.02.2012, relevant to assessment year 2008-09, whereby confirmation of addition of Rs.2,56,019/- on account of estimated expenditure u/s 14A of th..
On the facts and in the circumstances of the case and in law, the CIT(A) has erred in deleting the addition of Rs.9,96,50,000/- made by the Assessing Officer u/s 68 of the I.T. Act, 1961 being the unexplained share capital and share premium of Rs.1,0..
From the judgment it is cleared that the assessee is not interested in the prosecution of this appeal. Considering the facts and keeping in view the provisions of Rule 19 of the Income Tax Appellate Tribunal Rules, as were considered in the cases of ..
None appeared on behalf of the assessee when the appeal was called for hearing nor any request for adjournment was filed. Even before the Assessing Officer[AO in short], none appeared while last notice dated 9.12.2010 issued u/s 143(2) & 142(1) of th..
Opinion amongst different benches of the Tribunal in respect of scope of assessment framed u/s 153A, i.e. whether addition can be made on items in respect of which no incriminating material is found in search. The decisions in favour and against of t..
The relevant facts for adjudication of ground No.1 are that the assessee is a charitable institution engaged in carrying out religious and charitable activities within the ambit of section 2(15) of the Income Tax Act. These charitable activities have..
Facts: These appeals have been filed by the Union Territory of Lakshadweep against an order dated 16th January, 2012 passed by the High Court of Kerala at Ernakulam whereby the High Court has directed the appellants to process the applications mad..
The brief facts in apropos these grounds are that the assessee, Boskalis Dredging India P.Ltd, is a company incorporated in India on 5th January,1996. It is engaged in the business of undertaking inter alia capital and maintenance dredging projects a..
Section 80HHC- Deduction in respect of profits retained for export business.— xxx (3) For the purposes of sub-section (1),-- (a) where the export out of India is of goods or merchandise manufactured or processed by the assessee, the profits deriv..
Facts : Verma (PW-1) along with SubInspector Chander Pal Singh (PW-2), were on patrolling duty; They stated to have seen through the focus light of the police jeep two young men trying to pull out a girl in an injured condition by opening the rea..
Company Petition No.95 of 2004 was a petition under Sections 391 and 394 of the Companies Act, 1956 (hereinafter referred to as „the Act‟) vide which sanction of this Court to the scheme of Amalgamation of Indrama Investment Private Limited (transfer..
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