Assessee has assigned reasons for condoning delay is that, Assessment order been misplaced by Advocate & not handed over the same to assessee
Held that it is well settled law that, the sale of software product which will not giving rise to royalty income.
Focus Product Scheme (FPS) was first introduced with the objective to incentivize export of such products which have high export intensity/ employment potential, so as to offset infrastructure inefficiencies and other associated costs involved in marketing of these products.
Held that broker pledged the shares of the clients with banks for obtaining bank finance. It is not justified to take value of shares pledged as undisclosed investment of the broker.
Held that the payment towards CAM charges are in the nature of contractual payment which are made for availing services/ facilities. Accordingly, TDS is deductible u/s. 194C
Held that the assessee can take shelter and claim deduction u/s 54 only when the assessee invests the long term capital gain in purchase or construction of a single residential house.
Held that the authorities fallen in error in considering the subscription received towards cloud serviced to be royalty income
ITAT held that ‘serving of liquor is not charitable activity under section 2(15) of the Income Tax Act, 1961,
Held that interest earned out of the fixed deposit made from the surplus funds being not connected to the manufacturing activity and do not form an integral part of the profits derived from industrial unit is not eligible for deduction
Held that in case there are two possible views and the AO has taken one of the possible views, no action to exercise powers of revision can arise.
