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Sec 40A(3) disallowance not attracted for payment made as advance for purchasing assets capitalized in books

Case Name : Madhusudan Buidcon P. Ltd. Vs ACIT (ITAT Delhi)
Appeal Number : ITA No. 508 of 2014
Date of Judgement/Order : 15/06/2015
Related Assessment Year :
Courts : All ITAT (14952) ITAT Delhi (3705)
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Depreciation not allowed on share issue expenses capitalized to the cost of assets

Case Name : M/s International Computers Vs CIT (Bombay High Court)
Appeal Number : ITA No. 388 of 1997
Date of Judgement/Order : 12/03/2015
Related Assessment Year :
Courts : All High Courts (13951) Bombay High Court (1882)

Genuine expenditure paid in cash cannot be disallowed u/s 40A(3)

Case Name : DCIT Vs Kolli Gopi Krishna (ITAT Hyderabad)
Appeal Number : ITA No. 389/Hyd/2015
Date of Judgement/Order : 26/06/2015
Related Assessment Year : 2011-12
Courts : All ITAT (14952) ITAT Hyderabad (630)
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Profits may be recognized on sale even if Assessee follows project completion method if all risk and reward been passed on

Case Name : ITO Vs M/s Shree Sidhivinayak Developers (ITAT Mumbai)
Appeal Number : ITA No. 3693/Mum/2011
Date of Judgement/Order : 12/06/2015
Related Assessment Year :
Courts : All ITAT (14952) ITAT Mumbai (3584)
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A controlled transaction cannot be benchmarked against another controlled transaction (TP)

Case Name : Dy. Commissioner of Income-tax Vs M/s Deutsche Asset Management (India) Pvt. Ltd. (ITAT Mumbai)
Appeal Number : I .T.A. No.789/Mum/2014
Date of Judgement/Order : 12/06/2015
Related Assessment Year :
Courts : All ITAT (14952) ITAT Mumbai (3584)
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Omission of concluding sentence doesn’t amount to non-furnishing of reasons for reassessment

Case Name : M/s. R. W. Promotions Pvt. Ltd. Vs ACIT (ITAT Mumbai)
Appeal Number : I.T.A. No. 3969/Mum/2012
Date of Judgement/Order : 12/06/2015
Related Assessment Year : 2007-08
Courts : All ITAT (14952) ITAT Mumbai (3584)
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TP adjustments not applicable on transactions between Head Office & Branch Office

Case Name : Aithent Technologies Pvt. Ltd. Vs DCIT (ITAT Delhi)
Appeal Number : I.T.A. No. 5846/Del/2011
Date of Judgement/Order : 12/06/2015
Related Assessment Year :
Courts : All ITAT (14952) ITAT Delhi (3705)
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Penalty cannot be imposed on preponderance of probabilities

Case Name : Sh. Jagjit Singh Vs. ITO (ITAT Chandigarh)
Appeal Number : I.T.A .No.536/Chd/2014
Date of Judgement/Order : 19/06/2015
Related Assessment Year : 2009-2010
Courts : All ITAT (14952) ITAT Chandigarh (315)
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Order Should Be Passed after Affording Adequate Opportunity with clear findings

Case Name : Shri Vikramendra Prasad Bhalla Vs Income Tax Officer (ITAT Lucknow)
Appeal Number : ITA No: 808/LKW/2014
Date of Judgement/Order : 16/06/2015
Related Assessment Year : 2003-2004
Courts : All ITAT (14952) ITAT Lucknow (120)
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No disallowance of Interest if assessee has own fund more than interest free advance

Case Name : Adani Properties Pvt Ltd Vs DCIT (ITAT Ahmedabad)
Appeal Number : ITA no 868&881/Ahem/2011
Date of Judgement/Order : 16/06/2015
Related Assessment Year :
Courts : All ITAT (14952) ITAT Ahmedabad (1127)
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