Taxation Judgements

Displaying 30 - 40 of 1299 in 130 pages

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

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Assessee is not responsible for wrong certificate issued by other party

 25 July 2013

The Ld. CIT(A) has erred on facts and in law and on facts in deleting addition of Rs. 1,93,660/- on account of difference in cash deposit in bank account and cash sales, ignoring the cash deposits in bank account exceeded cash sales and the assessee

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Deposit and withdrawal of cash in regular interval is enough to prove that assessee is engage in business

 24 July 2013

I have considered the submission of the appellant and gone through the balance sheet, trading and profit loss account and cash flow statement. The Assessing Officer has considered the business income to the extent of Rs.5,990/- on the basis of tradin

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Deduction under section 10B availed subject to condition of 10 years from the date of first availment

 24 July 2013

The brief facts of the case are that assessee company has purchased an existing unit being run by M/s Motherson Sumy Systems Limited (for short MSSL). A part of the business of M/s MSSL comprising of an undertaking which was engaged in manufacturing

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Provision of section 11(4A) is applicable subject to condition of maintaining separate accounts

 22 July 2013

Brief fats are: The assessee is a charitable Society, registered u/s 12A of the I.T. Act and runs Sanskriti School, at Chankya Puri, New Delhi. Assessment order for assessment year 2007-08 was passed on 4-9-2009 by allowing exemption u/s 11, assessin

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Depreciation cannot be claimed without use of asset in the business

 19 July 2013

The assessee is a private limited company. During the year, it was engaged in the business of import, export, trade and otherwise deal in food, canned and tinned processed foods and foodstuffs and consumable provisions for human or animal consumption

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Without highlighting any adverse evidence absence at the time of passing order , order cannot be set-aside

 18 July 2013

The brief facts of the case are that return of income was filed on 09.02.2006, declaring Nil income. As per assessment order, the assessee is registered u/s 12A and is also availing the benefit of section 80-G. The trust was made on 24th day of Octob

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