Balaji Motion Pictures Ltd. Vs. DCIT (ITAT Mumbai) The assessee has given an explanation that keeping in view smallness of the amount being addition of Rs. 2,16,441/- and also keeping in view that the assessee had claimed a loss of more than of Rs. 9 crores in the return of income filed with the Revenue […]
An undertaking like the assessee, which derives profits from the business of processing, preservation and packaging of fruits or vegetables would be entitled to deduction under section 80IB(11A) of the Act from the initial assessment year, viz. the assessment year relevant to the previous year in which it begins such business.
As you are aware, e-SANCHIT shall be made mandatory from 15t” March, 2018. The Board has issued instructions to all the Chief Commissioners to launch e-SANCHIT in all the EDI locations.
It has now been decided that it shall be obligatory to upload the supporting documents through e-SANCHIT facility for all the bills of entry filed in JNCH w.e.f. 15.03.2018.
Notification No. 29/2018-Customs In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975)
This appeal filed by the assessee is directed against the order dated 08.07.2013 passed by the CIT(A)-IV, New Delhi in appeal No. 03/12-13 for the AY 1997-98 passed u/s 271 (1 )(c) of the Income-tax Act, 1961 [hereinafter referred to as ‘the Act’ for short].
Assessing Officer has issued notice under section 274 r.w.s. 271(1)(c) of the Act dated 27.03.2015 without striking off the irrelevant words, the penalty proceedings show a non-application of mind by the Assessing Officer and is, thus, unsustainable.
Commissioner (Appeals) therefore, rightly noted that there is no law that more than one Company cannot have its Registered Office at one address. The Companies could have change their address later on.
Shri John Jacob Vs JCIT (ITAT Indore) Assessee had produced books of account and audited statements, which proved that the assessee had sufficient surplus in his capital account to give interest free loan. Further that, the AO as well as CIT(A) had not brought anything on record to show that money so advanced was out […]
Computation of book profit is as per section 40(b) and remuneration to partner is based on current year’s “Book Profits”, while set-off of brought forward losses is to be granted in terms of section 72. Therefore, while arriving at business income, deduction of section 40(b) is to be given first and then if at all there remains positive income, brought forward losses are to be set off.
