Ajit Singh Melhotra Vs ACIT (ITAT Indore) We find that the addition was made on the basis of admission of assessee’s son during the course of search. It was contended before us, that all these documents were properly recorded in the regular books of accounts of the persons to which these documents actually pertained. However, […]
The issue under consideration is whether the addition of ‘Mark to market’ Loss made by AO on account of disallowance of loss on foreign exchange forward contract loss is justified in law?
The issue under consideration is whether the assessee is correct in stating that cognizance taken under section 153A of the Act is illegal at the end of the A.O.?
DCIT Vs Sheth & Sura Engineers Private Ltd. (ITAT Pune) It is an undisputed fact that the entire turnover of the assessee is exclusively from Government Department and the said turnover has not been disputed by the Assessing Officer. The Assessing Officer has also not considered the debtors of other divisions and only considered debtors […]
Galax E Solutions India Pvt. Ltd. Vs ITO (ITAT Bangalore) The revenue is assailing the decision of Ld DRP in holding that the gain/loss arising on account of fluctuation in foreign exchange is operating income/expenses. We notice that the Ld DRP has followed the decision rendered by the Tribunal in the case of Sap Labs […]
CIT Vs Dozco Infratech Pvt. Ltd. (ITAT Kolkata) Assessee shows that depreciation claimed by the Assessee @ 30% on Excavators, Bull dozers and Wheel Loaders has been rightly claimed and should be allowed in full as against @ 15% allowed by the Assessing Officer. Learned departmental representative vehemently contended during the course of hearing that […]
Urmin Marketing P.Ltd. Now known as Unicorn Packaging LLP Vs DCIT (ITAT Ahmedabad) Vs DCIT (ITAT Ahmedabad) Scheme of the amalgamation can be approved under the provisions of section 2(1B) of the Act where shareholders holding not less than 75% in the value of shares of the amalgamating company become the shareholders of the amalgamated […]
The issue under consideration is whether the disallowance u/s 14A can exceed the amount of exempt income? In the light of the order of M/s.Century Real Estate Holdings Pvt. Ltd. v. ACIT (supra), ITAT hold that the disallowance u/s 14A of the I.T.Act cannot exceed the exempt income.
K. Hemalatha Vs ACIT (ITAT Chennai) It is an admitted fact that against the assessment order, the assessee filed a manual appeal on 03.05.2016, which is well within the time provided under the Act. On perusal of the appellate order, we find that when the appeal was manually filed on 03.05.2016, no defect notice was […]
Noida Cyber Park Pvt. Ltd. Vs ITO (ITAT Delhi) Section 50C(1) of the Act, in so far as it is relevant for our purpose, prescribes that where the sale consideration received or accruing as a result of the transfer by an assessee of a capital asset, being ‘land or building or both‘, is less than […]
