We have heard the learned DR and the learned counsel for the assessee. The learned counsel for the assessee filed written submissions with a copy orders pages 1-20. The interesting point is that the revenue filed misc. petition in connection with IT(..
Whether the Income Tax Appellate Tribunal has erred in holding that duty entitlement pass book credit was cash assistance within the meaning of clause (iiib) to Section 28 of the Income Tax Act, 1961 and the entire amount including the premium receiv..
On the facts and in the circumstances of the case and in law the CIT(A) erred in sustaining the addition of Rs. 83,00,000/- made by the Assessing Officer on protective basis in respect of income from alleged undisclosed sources on the basis of the c..
We have heard both the parties and gone through the facts of the case as also the aforesaid decision relied upon by the ld. DR. A mere glance at the impugned order reveals that the order passed by the ld. CIT (A) is cryptic and grossly violative of o..
Facts: In the year 2002, for setting up a new business, appellant was in need of substantial finance and for that purpose, he approached respondent No.1-Company through its Director Mr. Rajendra Kumar Aggarwal, who is his co-brother. Respondent N..
TDS deducted but not deposited within the time limit prescribed u/s. 201 of the Act. The same was deposited on 15.02.2006. The Ld. Counsel for the assessee could not contribute anything which supports his case. But after going through the records, we..
Section 41(1) of the Act, as it existed at the relevant time, was as under:- “41. Profits chargeable to tax.—(1) Where an allowance or deduction has been made in the assessment for any year in respect of loss, expenditure or trading liability inc..
Following effective grounds of appeal:- 1. That the ld.CIT(A) had erred in deleting disallowance of Rs.8,66,798/- as disallowed by the AO which was claimed by the assessee as business loss. 2. That the ld.CIT(A) had erred in deleting the additi..
section 10A, the eligible business (appellant’s branch office in this case) is to be considered as a separate entity and transfer of goods or services by eligible business to/from other business of the assessee are to be treated as if such transfer h..
Brief facts are that the assessee is a private limited company carrying on business of dealing in shares, operation in share futures and commodity futures. The assessee also advanced unsecured loans to other parties and derived interest income there ..
The brief facts of the case are that the assessee is a private limited company engaged in the business of posting advertisement in various publication including newspapers. It has filed its return of income on 29.7.2005 declaring a total income of Rs..
Facts : An FIR dated 15.9.1998 was lodged against the petitioner and one other person under Section 7 of Essential Commodities Act, 1955 (hereinafter called the Act 1955) as they were found in possession of 1370 litres of blue kerosene and indulgin..
In view of the observation, we are of the view that the claim of the assessee could not be rejected merely on the ground that in the books of account the securities were being valued as per the notifications issued by the R.B.I. However, it is not cl..
The contentions have carefully been considered. According to well established law, learned CIT (A) is required to dispose of the appeal on merits instead of dismissing the same in limine. We also found that the assessee, due to change of her correspo..
The only common issue in these two appeals of revenue is against the order of CIT(A) deleting the disallowance made by Assessing Officer on account of licence fee payable at Rs.9 lacs in each of the years and not treating the same u/s. 43B of the Act..
The assessee is a trust running nine educational institutions under various names catering to different kind of education like Management, Engineering, Medial Sciences, Nursing, Pharmacy, etc. It was granted registration u/s 12AA (2) of the Act by CI..
At the outset, it was pointed out by the learned AR that the tax effect in the present case is less than Rs. 3 lac. He has produced before us the demand notice according to which the total tax has been computed at Rs. 2,12,781/-. The learned DR could..
Facts: Glaxo India Ltd., set up an industrial unit at Aligarh for the manufacture of what is sold in the market under the brand names Glacto, Complan, Farex, Glucon D and other products generically called milk foods/weaning foods and energy bevera..
At the time of hearing before us, it was pointed out by the learned counsel for the assessee that this issue is settled in favour of the assessee for AY 2005-06 because the similar disallowance was made in AY 2005-06. The learned CIT (A) allowed the ..
At the time of hearing before us, it is stated by the learned counsel for the assessee that there are various factual errors in computing the disallowance as per Rule 8D. However, he is not arguing in detail with regard to those errors but, his argum..
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