Masterclass

Taxation Judgements

Displaying 60 - 70 of 1295 in 130 pages

Revised tax effect for appeal applies to all pending appeals

 17 May 2013

We draw the attention of the ld. DR regarding the tax effect on the deletion of addition of Rs.9,05,643/- which is less than Rs. 3.00 lakh. This position is admitted by the ld. D.R. Therefore, as per the Instruction No. 3/2011 dated 09.02.2011 the re

Posted in Taxation |    0 comments |   1237 hits


Registration of trust under section 12A IT Act 1961

 16 May 2013

At the time of hearing before us, it was stated by the learned counsel that the DIT(Exemptions), vide his order dated 29th September, 2010, refused to register the trust. However, subsequently, the same DIT(Exemptions), vide order dated 6th April, 20

Posted in Taxation |    0 comments |   2420 hits


If the appeal has no effect on tax liability its liable to be dismissed

 14 May 2013

At the time of hearing before us, it was stated by the learned counsel that in both the years, despite huge additions, the assessed income is loss. That the set off of this loss has never been claimed in the subsequent years because in the subsequent

Posted in Taxation |    0 comments |   1092 hits


Realisation of shares cannot be treated as commission

 13 May 2013

On the facts and in the circumstances of the case, the ld.CIT(A) has erred in deleting the addition of Rs.15,00,000/- made by the Assessing Officer u/s 68 of I.T.Act, 1961 in respect of unexplained cash credits without appreciating the fact that the

Posted in Taxation |    0 comments |   1049 hits


Long term capital gain under section 50C of the Income Tax Act

 11 May 2013

That on the facts and in the circumstances of the case, the Assessing Officer had erred in invoking provision of section 50C of the I.T. Act thereby computing the long term capital gain at Rs. 74,15,381/-. The Ld. Commissioner of Income Tax (A) is al

Posted in Taxation |    0 comments |   5019 hits


Absence without application for adjournment can treat the appeal dismisses

 10 May 2013

However at the time of hearing, no one was present on behalf of the assessee. The appeal was passed over twice. Despite the same, neither the assessee was present nor any request for adjournment has been placed before the Bench. The record shows that

Posted in Taxation |    0 comments |   1292 hits


Intimation u/s 143(1) cannot be disturbed subject to the reason recorded by AO

 09 May 2013

Brief facts of the case are that assessee was running a proprietary business as whole seller at Nainital. It had filed its return of income declaring total income of Rs. 1,90,000/-. The Assessing Officer, vide order sheet entry dated 19th August, 200

Posted in Taxation |    0 comments |   1680 hits


AO cannot make any addition without giving adequate opportunity to assessee

 08 May 2013

The assessee has raised various grounds in its appeal. However, at the time of hearing before us, the main contention of the learned counsel for the assessee was for setting aside the matter to the file of the Assessing Officer or the CIT(A). He subm

Posted in Taxation |    0 comments |   1401 hits


Reopening of the assessment under Section 148

 07 May 2013

On the facts and circumstances of the case the ld.CIT(A) erred in deleting the addition of Rs.2,26,248/- made on account of jewellery by ignoring that no investment in jewellery was disclosed and no wealth tax return was filed. On the facts and circu

Posted in Taxation |    0 comments |   1093 hits


If issue set aside by ITAT further appeal on same subject is deemed to be set aside subject to the condition

 06 May 2013

However, at the time of hearing before us, it was pointed out by the learned counsel that the learned CIT(A) had allowed only part relief and, therefore, against the addition sustained at `3,45,914/-, the assessee had filed appeal before the ITAT. Th

Posted in Taxation |    0 comments |   1215 hits










×

  LAWyersclubindia Menu

Join the MasterClass     |    x