On the facts and in the circumstances of the case and in law, the ld CIT(A) erred in deleting the addition made on account of rejection of indexed cost without appreciating the facts that the assessee has not produced any evidence for acquisition cos..
In this case return of income declaring total income of ` 108107/- was filed on 31.10.1993 after claiming deduction of ` 3,08,43,785/- u/s. 80HHC of the Act. Original assessment in this case was completed u/s. 143(3) on 29.3.1996. At the time of orig..
the Assessing Officer (‘A.O.’)/Dispute Resolution Panel (‘DRP’) has erred in making an addition of Rs.34,780,481/- to the total income of the Appellant on account of adjustment in the arm’s length price of the international transaction pertaining to ..
The AO called the assessee to explain why the above claim of unsecured loan from the above three persons shall be treated as unexplained cash credit u/s 68 of the Act. In response to show cause notice, the assessee submitted details of cheque nos. by..
Against ex parte dismissal of appeal: a) For that on the facts and circumstances of the case and in law, the Ld. CIT(A) erred in dismissing the appellant’s appeal for alleged non-pursuing of the appeal. b) For that on the facts and circumstance..
On the facts and in the circumstances of the case, Ld. Commissioner of Income Tax (A) has erred in deleting the addition of ` 1001500/- made u/s. 68 of Income Tax Act, 1961 especially when the identity and credit worthiness of the share applicants an..
The brief facts of the above case are that while doing the scrutiny assessment the AO has added an amount of Rs.65,96,859/- under the head ‘unexplained loan creditors’ and Rs.2,44,256/- under the head interest paid on the above loan creditors by obse..
Briefly stated, the facts giving rise to this appeal are that the assessee filed a return declaring an income of Rs.53,46,390 for AY 2003-04 which was processed u/s 143(1) of the Act. Subsequently, the case was selected for scrutiny and accordingly a..
This appeal is directed against the judgment of the High Court of Bombay Bench at Aurangabad dated 25.04.2007 by which the High Court dismissed the Criminal Appeal No.403 of 2005 and confirmed the conviction and sentence imposed on the appellant for ..
On the facts and in the circumstances of the case, the Ld. Commissioner of Income Tax (A) has erred in deleting the addition of ` 15,12,750/- made by the Assessing Officer on account of unexplained investment on construction/ renovation of 1st floor ..
That on the facts and in the circumstances of the case and in law, the Ld. Commissioner of Income Tax (A) erred in confirming the penalty levied by the Assessing Officer on account of disallowance of maintenance expenses amounting to `7886/- and Depr..
That the Learned Assessing Officer has wrongly applied the valuation of Residential House as made by District Valuation Officer which is based on material rates prescribed by CPWD. With a contractors margin of 10% on supplying / fixing/ providing of ..
We are, in these appeals, called upon to consider the question whether the Division Bench of the Orissa High Court was justified in directing Orissa State Financial Corporation (OSFC) and Industrial Promotion and Investment Corporation of Odisha Ltd...
The Learned Director of Income Tax - (Exemption) has passed the order of Rejection of Application of Renewal of Exemption u/s 80G (5) (vi) of the Income Tax Act, arbitrarily on erroneous facts and superfluous reasons without bringing out the relevant..
We have considered the prayer for adjournment and have also gone through the orders and the Affidavit filed by the appellant company, we find that even the revenue authorities are aware that the assessee and its directors are involved in a number of ..
. The action of the learned DIT(E) rejecting grant of approval u/s 80-G of the Income-tax Act, 1961 by referring to object of general public utility and not considering the applicability object of medical relief is illegal, arbitrary, unwarranted, un..
On the facts and circumstances of the case and in law, the CIT(A) erred in granting relief in respect of addition u/s 41(1) of Rs. 30,49,113/- on account of sundry creditors for which no confirmations were filed during the course of assessment procee..
The reference made by the Ld. A.O. to the Learned Additional Commissioner of Income Tax, TPO-I(I), New Delhi (hereinafter referred as ‘Ld. TPO’) suffers from jurisdictional error as the Ld. A.O. has not recorded any reason on the basis of which he re..
The facts of the case of the appellant are very simple in the sense that the assessee firm has debited a total of Rs.8,21,885/- to its Profit & Loss a/c which are routine expenses like expenditure for income tax assessments, trade marks, and other le..
The relevant facts giving rise to this appeal are that assessee received gift in the form of IMD of face value of US$ 1,50,000 from Mrs Hansa Agarwal, NRI, residing at Sharjah on 25.9.2005. Thereafter, the assessee prematurely encashed the said IMD o..
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