Udyog Bharati Vs ITO (Ahmedabad High Court)- In the first place it was not necessary for the appellant to file a cross-objection. As already noted, the assessee had raised an alternative contention of exemption under Section 11 of the Act before the CIT(A). The CIT(A) in view of his opinion that the benefit of Section 10(23) of the Act is required to be granted, did not examine this alternative contention on merits. In that view of the matter, when the Revenue had carried the CIT(A)’s order before the Tribunal, it was open for the assessee to support the order on all grounds including those which may not have been accepted or examined by the CIT(A). For this purpose, cross-objection was not necessary. In that view of the matter, the Tribunal not entertaining such cross-objection on the ground of delay, to our mind, would not be fatal to the assessee’s contention. It is clarified that if the Revenue’s appeal before the Court is entertained further, it would be open for the assessee to support the orders in its favour on all grounds.
ACIT Vs. Kannappan Iron and Steel Co. Pvt. Ltd. (ITAT Chennai)-The Tribunal found that the expenditures were not incurred for setting up of any business or initiating an expansion programme. The expenditures were incurred as a measure of value addition and for competing in the market. There was no basic improvement in the fundamental character of product already manufactured and processed by the assessee. It was in the light of those findings, the Tribunal has held that the disputed expenditures were in fact revenue in nature.
ACIT Vs. L&T Western India Toll Bridge Ltd (ITAT Chennai)- It was yelled by the ld.AR that merits of the grounds taken in the cross objection should not be washed away permanently and the assessee should be given an opportunity to revive these issues as and when the proceedings, if reversed, by the higher forums.
In appeal for the assessment year 2001-02, the Revenue assails deletion of additions of Rs.3,60,000/- and Rs.1,56,388/- made by the ld. CIT(A). During the course of hearing, it was admitted by the ld. DR that the tax effect in this case was less than Rs.3 lakhs. Similarly, for the assessment year 2002-03, the Revenue has assailed the deletion of Rs.5,11,494/-. The tax effect here is also less than Rs.3 lakhs and even below Rs.2 lakhs. we are of the opinion that Circular No.3/2011 of CBDT will apply and due to low tax effect, the appeals of the Revenue are not maintainable. There is no case for the Revenue that the issue involved has got any cascading effect over other years or on the assessments of any group of which assessee is a part.
We recently come through a company which providing free software for creation XBRL file. While in Market all companies are charging from Six thousand to thirty Thousand for one year for the software. Software Name is ‘Apex Xbrl Maker Free Edition’ and it is developed by a Kolkata based Software and Web Development Company namely Saltlake Infosolutions Private Limited. The Key Features of Apex Xbrl Maker 2011 Free Edition (Applicable only for MCA Taxonomy 2011) are as follows:
Shri A.S. Bindra Vs ACIT (ITAT Delhi) – In the assessment order, it has been mentioned that due to non-availability of evidence, the assessee has offered this amount as his income. That fact cannot go against the assessee in penalty proceedings as the assessee will be having right to contest the levy of penalty independently, apart from the findings recorded in the assessment order. Therefore, the relevant evidence is admitted as additional evidence and the matter is restored back to the file of the AO for readjudication of the penalty proceedings after due consideration of the evidence being placed by the assessee on record. After giving a reasonable opportunity of hearing to the assessee and placing evidence on record, the AO will re-adjudicate the issue of levy of penalty or otherwise in accordance with law. We direct accordingly.
As all of us are aware about the MCA has made it compulsory vide General Circular No.11/2011, New Delhi Dated 07.04.2011 to inform PAN of every Director/Person holding Director Identification Number (DIN) up to 31st May, 2011 if not informed/furnished earlier at the time of applying DIN by such Director . The circular also made it mandatory for all new DIN Applicants to mention their PAN No. in DIN-1 eform
