Ramalinga Mills Ltd. Vs ACIT (ITAT Chennai) The issue under consideration is whether disallowance of expenditure in relation to exempt income u/s.14A read with Rule 8D of I.T. Rules, 1962 is justified in law? ITAT states that, the facts borne out from records clearly indicate that the assessee has earned dividend for the impugned assessment […]
Bombardier Transportation Sweden AB Vs DCIT (ITAT Delhi) Conclusion: Payment of consideration would be regarded as ‘fee for technical/included services’ only if the twin test of rendering services and making technical knowledge available at the same time was satisfied. Intermediary services rendered by assessee did not make available any technical knowledge, skill etc to BTIN […]
The issue under consideration is whether the re-opening of assessment is valid even if there is no addition on subject-matter being basis for issuing notice under section 148, rather AO made addition on other counts?
Commission paid to Director in terms of Employment is Considered as Part of Salary. It is also not disputed that TDS has been deducted on such commission as salary. Accordingly, the Revenue’s appeal is dismissed.
The issue under consideration is whether addition made by AO by application of N.P. rate of 8% is justified in law? Profit Margin Cannot be Rejected Arbitrarily due to Rejection of Books of Account
GCO Technologies Centre Private Ltd. Vs ITO (ITAT Mumbai) We have deliberated at length on the aforesaid issue under consideration and are unable to persuade ourselves to subscribe to the projection of the aforesaid comparable company viz. M/s Cather Consultancy Services Pvt. Ltd by the assessee as a profit making company during the financial year […]
Dream Motels (P) Ltd. Vs ITO (ITAT Mumbai) The issue under consideration is whether treating municipal taxes paid is considered as a part of rent liable to be taxed u/s 23 of the act? ITAT states that, upon due consideration of factual matrix, the crystal-clear position that emerges is the fact that as per the […]
The issue under consideration is whether the addition made u/s 68 for assessee helped various beneficiaries in providing accommodation entries in relation to capital and expenses is justified in law?
As per the proviso to section 43B, the amount paid before the due date for filing return of income out of the provision created is allowable as deduction. Admittedly, assessee had paid a sum out of the provision so created, before the due date for filing return of income.
ITO Vs M/s Arti Securities & Services Ltd. (ITAT Lucknow) Issue of scrutiny notice by non jurisdictional officer makes entire assessment invalid as per CBDT instruction no 1 of 2011 holds ITAT Learned counsel for the assessee, at the outset, submitted that the second ground taken by the assessee is a jurisdictional issue therefore, he […]
