All ITAT

Section 35D-Amortization of market research expense as preliminary expenses

ITO Vs Beehive Systems Pvt. Ltd. (ITAT Delhi)

The appellant, Income Tax Officer, Ward 2(4), New Delhi (hereinafter referred to as the Revenue) by filing the present appeal sought to set aside the impugned order dated 30-6-2014, passed by the Commissioner (Appeals)-V, New Delhi under section 143(3) of the Income Tax Act, 1961 (for short ‘the Act’) qua the assessment year 2010-11 o...

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Section 61: In case of revocable trust, its income needs to be taxed in hands of beneficiaries

Tamil Nadu Urban Development Fund Vs. ITO (ITAT Chennai)

These appeals are filed by the assessee against an order dated 30-3-2016 of the Commissioner (Appeals)-2, Chennai, in I.T.A. No. 31/CIT(A)-2/2013-14 for the assessment year 2008-09 and the order dated 30-3-2016 of the Commissioner (Appeals)-2, Chennai, in I.T.A. No. 174/CIT(A)-2/2013-14 for the assessment year 2009-10....

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Expense on Renovation of purchased unit is eligible for Exemption u/s 54F

Income-tax Officer Vs. Shri. Ramakrishna M. J (ITAT Bangalore)

In a significant ruling delivered on Friday, a division bench of the ITAT Bengaluru held that the benefit of section 54F of the Income Tax Act, 1961 can be extended to the cost incurred by the assessee on alteration / renovation on the purchased unit....

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Surplus generation from charitable activities did not dis-entitle assessee from registration U/s. 12A

Yashaswi Education Society Vs CIT (ITAT Pune)

This appeal by the assessee is directed against the order of Commissioner of Income Tax -I, Pune dated 29-11-2013 rejecting the application of the assessee for grant of registration under section 12AA(1)(b)(ii) of the Income Tax Act, 1961 (hereinafter referred to as the Act)....

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Deferral of depreciation doesn’t Result in Income Concealment

Harish Narinder Salve Vs. ACIT (ITAT Delhi)

Deferral of depreciation allowance does not result into any concealment of income or furnishing of any inaccurate particulars, the Income Tax Appellate Tribunal has held while setting aside the penalty imposed on eminent lawyer Harish Salve for alleged concealment of income as it said his tax payments running into crores show his intentio...

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Concealment has to be checked with reference to return filed U/. 153A

ACIT Vs. Mehar Anand & Anr. (ITAT Delhi)

In the present case also the income returned by the assessee under section 153A of the Act has been accepted by the assessing officer and once the assessing officer accepts the revised return filed under section 153A of the Act, the original return under section 139 of the Act abates and becomes non-est. Therefore, in […]...

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Profit increased due to disallowance U/s. 40(a)(ia) is eligible for deduction U/s. 10A

Dy. CIT Vs. Goldman Sachs Services (P) Ltd. (ITAT Bangalore)

It cannot be denied that expenditure incurred by the assessee for the purpose of developing housing project and not allowable by virtue of section 40(a)(ia) would ultimately go to increase assessee's profit from such business and profit as computed after making the dis allowance would, therefore, qualify for deduction under section 10A....

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Expenses not allowable on Failure to prove that it was incurred for business purpose

Kanhaiyalal Dudheria Vs Jt. CIT (ITAT Bangalore)

These are appeals filed by the assessee-firm directed against the common order of the Commissioner (Appeals), Gulbarga, dated 29-1-2016 for the assessment years 2011-12 and 2012-13. Since common issue is involved in both the appeals, we proceed to dispose of the same by this common order....

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In granting approval to case manually selected for scrutiny CIT is required to show application of mind

M/s Brothers & Sisters Enterprise Vs JCIT (ITAT Kolkata)

1. The argument of the assessee in this case is that the selection for scrutiny of this case manually done by the Assessing Officer is bad in law and that the Commissioner of Income Tax has granted approval for selection of this case for scrutiny by the AO without application of mind. Ld. Counsel for […]...

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Additional depreciation cannot be claimed on Machinery used during earlier years

M/s. CRI Pumps (P) Ltd. Vs ACIT (ITAT Chennai)

First requirement to claim of additional depreciation is that there should a new machinery or plant. A machinery is new till it is first put to use. Once it is used, it is no longer a new machinery. Admittedly, the machinery, on which additional depreciation has been claimed, was already used in various preceding previous […]...

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