Escorts Skill Development Vs CIT (Exemptions) (ITAT Delhi) Merely because of the fact that the applicant company has been established to comply with the CSR obligations, the registration u/s 12AA of the Act cannot be denied, particularly when CSR activities are also charitable activities as defined under the Act. FULL TEXT OF THE ITAT JUDGMENT […]
ITO Vs Smt. Jaya Deepak Bhavnani (ITAT Mumbai) Legal fiction created in Section 50 is to deem capital gain as short term capital gain and not to deem an asset as short term capital asset and therefore it cannot be said that Section 50 converts long term capital asset into short term capital asset and […]
CIT(Appeals) had no power in the appeal in the present case to declare the return of TDS filed by the assessee as non est in law. In that view of the matter, we are of the view that the conclusion of the CIT(Appeals) holding that return of TDS filed by the assessee is non est in law is not valid in the eyes of law and the said direction is directed to be deleted and the order of the CIT(A) to this extent is held to be bad in law.
Agro Portfolio Private Ltd. Vs ITO (ITAT Delhi) We are unable to accept the contentions of the assessee that in view of the provisions under section 56(2)(viib) of the Act read with Rule 11UA(2) of the Rules the Ld. AO had no jurisdiction to adopt a different method than the one adopted by the assessee, […]
Shri Satyendra Nath Kukreja Vs ITO (ITAT Delhi) AR for the assessee challenging the impugned order passed by ld. CIT (A) contended that since the assessee has received the amount in question as a nominee of Shri Tek Chand Bhardwaj after his death being a childhood friend, the same is not liable to be taxed; […]
M/s. Incap Manufacturing Service Pvt. Ltd. Vs DCIT (ITAT Bangalore) The sole disputed issue raised by the assessee in respect of granting of depreciation on Customer Relationship Rights which is in the nature of non-compete fee. We found that the co-ordinate bench of the Tribunal based on the findings of the AO. has observed that […]
Shri Ramakrishna Aswatgh Vs ITO (ITAT Bangalore) In the present case, new house was purchased and the construction of additional floors was on such new house purchased by the assessee and this new house building purchased by the assessee has been accepted as eligible for deduction u/s. 54F. FULL TEXT OF THE ITAT JUDGEMENT This appeal […]
M/s Shree Krishna Vatika Construction Pvt. Ltd. Vs DCIT (ITAT Jaipur) From the record we also found that the assessee had attended the proceedings under the bonafide belief that the losses as claimed (which was same in both returns filed u/s 139(1) and 153A) were duly being assessed by the AO, and this intention of […]
Shri. P.K. Mohammed Vs. ACIT (ITAT Chennai) As regards to the allowances of discount, commission and development expenditure, no evidence were filed before us establishing the genuineness of the expenditure. Mere entries in the books of accounts does not establish the genuineness of the expenditure. The contention that profit arising on account of sale of […]
M/s. SDB Estate Private Limited Vs ITO (ITAT Mumbai) We find that the assessee, in this case, had filed detailed evidence to prove the genuineness of transactions e.g. copies of form for allotment of shares, confirmation of shareholders and other documents as mentioned above. The department has relied upon the general statement of Shri Mukesh […]
