Jalarani Jagruti Developers Pvt. Ltd. Vs DCIT (ITAT Mumbai) It is not in dispute that receipts in question have direct nexus with the business of the assessee and represent cash receipts against sale of shops and flats. is also not in dispute that the assessee follows project completion method of revenue recognition and that project […]
ITO Vs Newtech (India) Developers (ITAT Mumbai) What was to be received by the assessee was from a joint venture, in which assessee itself was a participant, but, under the said arrangement, it was to be entirely funded by Shivalik Ventures Pvt Ltd. The essence of the arrangement was the performance of obligations by the […]
The issue under consideration is whether the issuing notice u/s 153C to the person other than person against whom search is initiated, but without submitting satisfaction note is justified in law?
DCIT Vs Edelweiss Tokio Life Insurance Ltd. (ITAT Mumbai) During assessment proceedings, it transpired that the assessee earned dividend income of Rs.17.92 Lacs and claimed the same to be exempt u/s.10(34). However, the Ld. Assessing Officer opined that since the income in case of insurance business was to be computed in terms of provisions of […]
The issue under consideration is whether the deduction claimed u/s 80HH, 80I and 80IA for production, processing, transmission and distribution of various gases is justified in law?
The issue under consideration is whether the CIT(A) is correct in confirming an addition of by treating sale of land as business income against the appellant’s claim as “Long Term Capital Gain”?
The issue under consideration is whether the addition made u/s 40A(2)(b) in case of estimation of income without doubting expenses incurred by assessee is justified in law?
Whether A.O. is right in dismissing the claim of the assessee u/s. 54F of the Act on the ground that residential flat was not constructed after the date of transfer and they were constructed alongwith saleable flats?
Bacardi India Pvt. Ltd. Vs ACIT (ITAT Delhi) Under Sections 92B to 92F, the pre-requisite for commencing the TP exercise is to show the existence of an international transaction. The next step is to determine the price of such transaction. The third step would be to determine the ALP by applying one of the five […]
Explore ITAT Delhi’s ruling in American Express India vs DCIT. Key issues: Comparable selection, transfer pricing adjustments, corporate tax matters.
