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Taxation Judgements

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Provision of software service and marketing support service as per order passed under section 92CA(3) read with section 144C(5) of the Act

 06 August 2013

These are assessee’s appeals against assessment orders dated 31.10.2011 for A.Y. 2007-08 and dated 19.10.2012 for A.Y. 2008- 09.passed by the assessing officer u/s 143(3) after seeking directions from DRP u/s 144C(13) of the Income-tax Act, 1961 (“

Posted in Taxation |    0 comments |   970 hits


Interest paid is treated as compensatory and allowed under section 37(1)

 05 August 2013

Facts in brief:- The assessee company is engaged mainly in the business of manufacture and sale of auto parts. During the year under reference the assessee company was in the process of setting up a plant for manufacturing of various auto components

Posted in Taxation |    0 comments |   2567 hits


Provision of section 69A of IT Act 1961 for unexplained cash

 03 August 2013

On the facts and in the circumstances of the cazse and in law, the Ld. Commissioner of Income Tax (appeals) has erred in confirming the penalty of Rs.6,89,620/- u/s 271(1) (c) ignoring the facts that in the quantum proceeding the appellant has alrea

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Bank statement reflects the payment and TDS certificate is enough to proof the payment

 02 August 2013

Brief facts of the case are that in the relevant assessment year, the assessee company was engaged in the business of Export of Readymade Garments. The assessee had filed its return of income declaring total income of Rs. 3,63,33,946/-. In the course

Posted in Taxation |    0 comments |   1499 hits


Income cannot be excluded from taxation by an internal arrangement

 01 August 2013

The brief facts of the case are that return of the assessee was selected for scrutiny. The assessee had declared income from house property, share of profit, remuneration from one firm and income from other sources. In this case AIR information was r

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Registration under section 80G of Income Tax Act

 01 August 2013

Vide this appeal, the assessee has raised its objections against denial of registration u/s 80G of the Income Tax Act, 1961. At the outset, the Ld. AR invited our attention to appellate order passed by ITAT, Delhi Bench-F in ITA No.1707 vide order da

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Calculation of Deduction under section 80HHC

 30 July 2013

That the Ld. Commissioner of Income Tax (A) has erred in law and on the facts by allowing relief of Rs. 13,58,98,217/- by holding that the Transfer Pricing Officer’s (TPO) action of apportionment of Global Cricket Council contribution in the ratio of

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Rule 10 B (1)(e)(i) does not suggest that the ‘costs’ would mean the FOB value of goods in transfer pricing calculation

 29 July 2013

That the learned Additional Director of Income Tax, Transfer Pricing Officer-II(2), New Delhi (Ld. TPO)/ Ld. AO have erred both in law and on facts in making an addition of Rs.3,97,10,488/- on account of alleged understatement of arm’s length price i

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Expenditure relatable to current year can claim as deduction

 27 July 2013

These appeals are preferred by the assessee against separate orders of CIT(A) in quantum assessment and penalty imposed u/s 271(1)(c) of the Income-tax Act, 1961, relating to assessment year 2007-08. First we shall take ITA No. 843/Del/2011 against t

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Provision of Section 80IA on inter unit and intra unit transfer

 26 July 2013

The assessee is a company and is engaged in the business of manufacture of fertilizers, chemicals, soya oil etc. It manufactures and sells single super phosphate, Sulphuric Acid in its three fertilizers unit situated at Nimrani (MP), Jhansi (UP) and

Posted in Taxation |    0 comments |   3588 hits










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