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NC Notification No. 75/2010-Income Tax WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 832(E), dated the 18th September, 1998, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 7, for Running
Notification No. 76/2010-Income Tax It is hereby notified for general information that the organization Sisodia Educational, Medical & Charitable Society, Kollakadavu, Kerala has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules. 1962 (said Rules), from Assessment year 2010-2011 onwards in the category of ‘Other Institute’, partly engaged in research activities subject to the following conditions, namely:-
Notification No. 75/2010-Income Tax [F.No.203/152/2009/ITA-II), dated 11-10-2010. It is hereby notified for general information that the organization Maharashtra Rajya Draksha Bagaitdar Sangh, Pune has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules. 1962 (said Rules), from Assessment year 2010-2011 onwards in the category of ‘Other Institution’, partly engaged in research activities subject to the following conditions, namely:-
Shikshan Prasarak Mandali, the education institution which runs prominent colleges and school like S P College, Nutan Marathi Vidyalaya has been stripped off the charitable institute status. The 125 years old institute faced action from Income Tax Co
The moot question that arises for our consideration in the present case is whether, on the facts of the present case, the interest earned by the assessee on fixed deposit is assessable as profit of the business of undertaking for the purpose of computing the deduction available to the undertaking under section 10A of the Act.
Section 147 authorizes and permits the Assessing Officer to assess or reassess income chargeable to tax if he has reason to believe that income for assessment year has escaped assessment. It is also well settled that words reason to believe used in section 147 of the Act are stronger than the words is satisfied.
The appellant/revenue has filed the above Tax Case Appeal against the order of the Income Tax Appellate Tribunal, ‘A’ Bench, Chennai, dated 27.04.2007 in ITA.No.1862/Mds/2004. 2. When the appeal came up for admission on 09.03.2010, this Court admitted the same on the following substantial questions of law:
The challenge in this proceeding is to a notice issued by the Commissioner of Income Tax-I, Nashik on 30 April, 2009 seeking to exercise the revisional jurisdiction under Section 263 of the Income Tax Act, 1961.
The dispute in this case relates to assessment years 2004-2005 and 2005-2006. On 30 April 2001, the Authority for Advance Rulings (AAR) constituted under Section 245 of the Income Tax Act, 1961 held that the purchase and sale of shares by the petitioner was in the ordinary course of its business and the income which resulted from this
Compensation including interest on cancellation of contract not taxable in the absence of Permanent Establishment of the non-resident in India under India-UK tax treaty
