Vipul Ltd. Vs ACIT (ITAT Delhi) it can be observed that as far as the subscription fee to Clubs is concerned the nature of business activity of the assessee company is such that for procurement of business the Managing Director may have to attend the clients and entertain them occasionally at clubs. However, the four […]
Shesh Dhar Chaube Vs ITO (ITAT Delhi) AO alleged that assessee has not filed any declaration from the lorry owner with regard to the number of vehicles owned by them. In this regard sub-section (6) of Section 194C is relevant which provide for the condition as to providing such declaration from the lorry owners. It […]
As per section 49 of the Act, where the capital asset became the property of the Assessee on any distribution of assets on the total or partial partition of a Hindu undivided family etc. etc. etc., the cost of acquisition of the asset shall be deemed to be the cost for which the previous owner of the property acquired it, as increased by the cost of any improvement of the assets incurred or borne by the previous owner or the Assessee, as the case may be.
ITAT held that amounts paid by resident Indian end-users/distributors to non-resident computer software manufacturers/ suppliers, as consideration for resale/use of computer software through EULAs/distribution agreements are not payment of Royalty.
Kalra Papers Pvt. Ltd. Vs ITO (ITAT Delhi) The penalty provisions of section 271(1)(c) of the Act are attracted, where the Assessee has concealed the particulars of income or furnished inaccurate particulars of such income. It is also a well-accepted proposition that the aforesaid two limbs of section 271(1)(c) of the Act carry different meanings. […]
T P D 101 Uthangarai Milk- Producers Co-operative Society Ltd. Vs ITO (ITAT Chennai) The assessee supposed to have been filed audit report as required u/s.44AB of the Act, on or before 31.10.2015. However, such audit report has been filed on 05.03.2016, which is before the date of completion of assessment proceedings u/s.143(3) of the […]
ACIT Vs Ecocat India Pvt. Ltd. (ITAT Delhi) There is no quarrel on the proposition that the DSIR has approved the weighted deduction for capital expenses. Those expenses were in a sum of Rs. 2,97,57,596/- which is acknowledged in the assessment order by the AO. What has not been permitted u/s 35(2AB) of the Act […]
Church’s Auxiliary For Social Action Vs ACIT (ITAT Delhi) In the case of India Brand Equity Foundation vs. Assistant Commissioner of Income Tax (E), Trust, Ward-II, New Delhi [(2012) 23 com 323 (Del)] it was held that amount spent outside India for participating in a fare held outside India cannot be treated as application of […]
Sneh Developers Pvt. Ltd Vs DCIT (ITAT Delhi) As per the AO, the assessee has not filed return of income and hence notice u/s 148 of the Income Tax Act, 1961 has been issued owing to cash transactions exceeding Rs.10,00,000/-. The AO held that the assessee has not given any details with regard to the […]
S.K. Agarwal (HUF) Vs ITO (ITAT Delhi) It is an admitted fact that during the AY 2015-16, the assessee HUF sold a plot of land and earned capital gain which it claimed exempt under section 54F as the assessee purchased a residential house. The only cause of denial of exemption by the Revenue is that […]
