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Taxation Judiciary

As per section 68, the onus on the assessee only to explain the source of found credited in the books of accounts

 17 July 2013

That on the facts and circumstances of the case, the Ld. CIT (Appeal) was not justified in confirming the addition of Rs.30,00,000/- on account of unsecured loan on mechanical basis even though all transactions in the account are by account payee che..

Posted in Taxation |   1610 hits

When a quasi Judicial Authority like the DRP deals with lis u/s 144C of the Act then it is obligatory

 16 July 2013

A perusal of the record shows that the assessee furnished a return electronically on 30.11.2006 by declaring NIL income and claimed a refund of Rs.41.04.516/- out of TDS and self assessment tax. On the basis of selection of case under scrutiny notice..

Posted in Taxation |   1816 hits

TDS and service tax deducted and paid and properly incorporated in accounts is enough to prove the transaction

 15 July 2013

On the facts and in the circumstances of the case, the CIT(A) erred in deleting the disallowance of commission paid amounting to Rs. 16,80,000/-. On the facts and in the circumstances of the case, the CIT(A) erred in deleting the addition made u/s 69..

Posted in Taxation |   1780 hits

Order passed based on notice under section 143(2) beyond stipulated period is bad in law

 13 July 2013

That CIT(A) has erred in law in not appreciating that notice issued and served under section 143(2) of the Income Tax Act is beyond the stipulated period and order passed in pursuance to such notice is without jurisdiction and bad in law...

Posted in Taxation |   2616 hits

Order passed without adequate opportunity to asseesse is not valid

 13 July 2013

This is an appeal filed by the assessee against the order of Ld CIT(A) dated 4.10.2010. The grounds of assessee was not afforded a reasonable opportunity of showing cause against enhancement...

Posted in Taxation 1 comments |   2657 hits

Deduction under section 80HHC before amendment of Taxation Law is eligible

 29 June 2013

That on the facts & circumstances of the case of the appellant the order of the Learned CIT(A) in disallowing deduction of Section 80HHC on total sale proceeds of DEPB instead of Profit as mentioned in Section 28(iii) of the Income Tax Act, 1961 is h..

Posted in Taxation |   2455 hits

Assessment of income received by minor as gift

 25 June 2013

We have heard the arguments of both the sides and perused the material placed before us. The facts of the case are that both the assessees are minor children of Shri Kamal Piyush. During the accounting year relevant to the assessment year under consi..

Posted in Taxation |   1656 hits

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..

Posted in Taxation |   1475 hits

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..

Posted in Taxation |   1770 hits

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

 21 June 2013

Non presense of the appellant without taking adjournment...

Posted in Taxation |   1534 hits

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. ..

Posted in Taxation |   4695 hits

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..

Posted in Taxation |   1691 hits

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..

Posted in Taxation |   1810 hits

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..

Posted in Taxation |   1373 hits

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..

Posted in Taxation |   1212 hits

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..

Posted in Taxation |   1847 hits

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 ..

Posted in Taxation |   1359 hits

Whether Rule 8D has retrospective operation

 06 June 2013

The appellant is engaged in export of handicraft and shawl etc. and local sale of software. The assessee has income from business, capital gains and income from other sources during the AY 2008-09 and the same sources of income as were in earlier yea..

Posted in Taxation |   1434 hits

Deletion of addition made under section 68 of IT Act 1961 must accompanied by proper supporting

 05 June 2013

On the facts and circumstances of the case, the Ld. Commissioner of Income Tax (A) erred in deleting the addition of Rs. 45,00,000/- being unexplained cash credit u/s. 68 of the I.T. Act, 1961..

Posted in Taxation |   1711 hits

Additional grounds and document not submitted before AO is allowed and remitted to file of AO for reconsideration

 04 June 2013

That on the facts and in the circumstances of the appellant company’s case the Ld. Commissioner of Income Tax (A) erred in law in upholding the order of DCIT, Circle 1(1), New Delhi in treating a sum of Rs. 36,00,000/- representing income from joint ..

Posted in Taxation |   1055 hits









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