Dr. Sudhir Naik (HUF) Vs. ITO (ITAT Hyderabad) Another contention is about claim of 54F/54. It was the contention that assessee has sold all the flats allotted to him and therefore, at the time of investing in the new house, he has no other house except this house. As seen from the agreements and the […]
Loss or expenditure or some benefit in respect of any such trading liability by way of remission or cessation shall be includible by a unilateral act by the first person who is assessee, i.e., debtor. There is no stipulation of such unilateral act by the creditor.
Renault India case: Just because assessee mentioned that marketing expenditure incurred by it helped promotion of Renault brand in India, it cannot be presumed that such expenditure resulted in any international transaction
Dy. DIT (IT) Vs weatherford Oil Tools (ME) Ltd. (ITAT Delhi) On Issue relating to the service tax, learned AR placed reliance on the decision of the Hon’ble Jurisdiction High Court in the case of CIT vs Mitchell Drilling International P. Ltd. 380 ITR 130 in support of his contention that the service-tax being statutory […]
Aforesaid appeal by the assessee is against order dated 28th December 2015, passed by the learned Commissioner (Appeals)–37, Mumbai, confirming penalty under section 271(1)(c) of the Income-tax Act, 1961 (for short the Act) for the assessment year 2010–11.
Sharp Designers and Engineers India Pvt. Ltd. (Formerly Khinvasara Investments Pvt. Ltd.) Vs ACIT (ITAT Pune) AO had not brought any comparables from market to make out that the case that impugned payment was excessive or unreasonable within the meaning of section 40A(2)(b) and based his conclusion merely on low profitability of recipient firm was […]
Dy. CIT Vs. Siroya Developers (ITAT Mumbai) Section 139(1) casts an obligation on every assessee to furnish the return of income by the due date. With a view to enforce the compliance in this regard by the assessees who are entitled for deduction under section 10B from their income, a proviso (fourth proviso) to sub-section […]
Assessee’s case with both original and revised returns filed in time was placed in a better position, therefore, deduction under section 80-IA was allowable, despite the same was claimed through filing of revised return.
Common Area Maintenance Charges and non-occupancy charges paid by the assessee to the Society are deductible from the rent while computing the Annual Letting Value u/s 22
Pest Control India Pvt Ltd vs. DCIT (ITAT Mumbai) By no stretch of imagination can Section 14A or Rule 8D be interpreted so as to mean that entire tax exempt income is to be disallowed The Hon’ble Delhi High Court in the case of Joint Investment Private Limited in ITA.No. 117/15 dated 25.02.2015 held that […]
