ITO (TDS) Vs. M/s Punjab State Warehousing Corporation (ITAT Chandigarh) The main contention of the Department is that by-product retained by the millers have considerable market value and further that a sum of Rs. 15/- paid as ‘milling charges’ is a nominal cost which is insufficient to meet even the actual cost of services rendered […]
Sri Dashmesh Academy Trust Vs CIT (Exemptions) (ITAT Chandigarh) Identical contentions as were raised by the representatives of the Trust before the lower authorities that the Trust is controlled and managed by the Government or that its funds and properties otherwise belong to the Government, have been raised by the counsel for the assessee Trust […]
M/s C.R. Auluck & Sons Pvt. Ltd. Vs ACIT (ITAT Chandigarh) Assessee has failed to establish its case of commercial expediency. The intention of assessee in advancing the said interest-free loan to its sister concern was not for the purpose of business because the two concerns were carrying on independent lines of manufacturing and the […]
ACIT Vs Janak Global Resources Pvt. Ltd (ITAT Chandigarh) Where sufficient own interest free funds are available with the assessee, the presumption arises that the assessee had utilised those funds for the purpose of making interest free non business advances. Thus in very clear terms the Hon’ble Apex Court in the case of Hero Cycles […]
Devinder Singh Gill Vs DCIT (ITAT Chandigarh) Since the recovery in this case has been stayed subject to the deposit of Rs. 20 lacs, in total, and if the assessee deposit Rs. 20 Lacs as ordered above, in that event, there will be no reason left with the TRO to keep the assessee in jail. […]
As assessment for impugned assessment year was not pending on the date of search, therefore, no addition could to be made in assessment framed under section 153A in the absence of any incriminating material found during search.
The issue under consideration is whether interest u/s 201(1A) will be levied on assessee even if NRI seller had already paid taxes as per his return?
Income of the assessee from the incidental and commercial activity i.e. income from organizing of Davis Cup up to the limit prescribed as per the second proviso to section 2(15) of the Act, which for the assessment year under consideration is Rs. 25 lacs, will be treated as income from ‘charitable purposes’
Satbir & Ors. Vs ITO (ITAT Chandigarh) Capital gains–Interest on enhanced compensation arising on compulsory acquisition of agricultural land–Taxability Interest earned under section 28 of Land Acquisition Act, 1894, which is on enhanced compensation, is treated as an accretion to the value and therefore, is part of the enhanced compensation or consideration. Therefore, interest on […]
The present Misc. Application has been moved by the applicant – assessee pleading that though the Tribunal vide order dated 20.12.2017 had stayed the recovery of the balance amount to be recovered by the Department from the assessee for the assessment year 2009-10,
