This appeal by the assessee is directed against the order of ld. Commissioner of Income tax(Appeals) dated 01/05/2014 and pertains to assessment year 2010-11.The Grounds of appeal read as under :- Being aggrieved by the order of the Commissioner of Income-tax (Appeals)-25, Mumbai (hereinafter referred to as Learned CIT (A)) dated 01.05.2014 under section 250 of The Income Tax Act, 1961 (herein after referred as ‘IT Act’), the appellant submits this appeal on the following grounds each of which may please be considered without prejudice to one another
CLC & Sons Pvt. Ltd Vs. ACIT (ITAT Delhi) (Special Bench) Hon’ble Summit court in CIT vs. Smifs Securities Ltd. (2012) 348 ITR 302 (SC) in which it has been held: “that goodwill will fall under the expression ‘or any other business or commercial rights of similar nature’” and, hence, qualifies for depreciation u/s 32(1) of […]
M/s. Oriental Insurance co. ltd, Vs JCIT (ITAT Delhi) In the present case the quarterly TDS return in form No. 24Q, which was to be filed by the assessee on 15.06.2011 was filed on 05.04.2013 causing the delay of 660 days. The main reason shown by the assessee is that the work was entrusted to […]
This appeal by the Revenue is preferred against the order of the Commissioner of Income Tax [Appeals] – 40, New Delhi dated 31.12.2015 pertaining to A.Y 2011-12. 2. Grievances of the Revenue read as und
The report given by BSE only shows that there may be some irregularities on the part of the share broker. In our view, such kind of irregularities, if any, committed by share broker cannot be a ground to suspect the genuineness of purchase and sale of shares undertaken by the assessee.
Maniar Injectoplast Pvt. Ltd. Vs. ITO (ITAT Mumbai) It was specifically mentioned in the agreement of sale assessee was to make out a clear and marketable title to plot of land, free of all encumbrances, to the satisfaction of the purchaser’s advocate and after fulfilling the other conditions it would execute and register a deed […]
ACIT Vs M/s. Mahagun Realtors (P) Ltd, (ITAT Delhi) AO has passed the assessment order u/s 153A of the Act in case of Mahagun Realtors Pvt. Ltd (represented by Mahagun India Pvt. Ltd after amalgamation) despite the fact that the above company has merged with Mahagun India Pvt. Ltd by the order of the Hon’ble […]
Agreement to sell old property and investment in new residential property within one year, whether to be claimed as exemption under section 54.
Shrinet & Shandilya Construction (P) Ltd. Vs Addl. CIT & DCIT (ITAT Delhi) Once the trading results and books of accounts have been rejected and income is being estimated by applying net profit rate on the declared gross contract receipt, then no other addition is required to be made on account of any other trading […]
Since assessee had included the surrendered amount in its revised return and no such concealment or non-disclosure was made as assessee had made a complete disclosure of income in its revised return. Therefore, no penalty under section 271(1)(c) could be levied.
