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If a deduction under s 80-IA has been taken, a deduction under s 80HHC is not admissible

Case Name : Gupta International Vs CIT (Punjab and Haryana High Court)
Appeal Number : ITA No. 174 of 2011
Date of Judgement/Order : 20/07/2011 
Related Assessment Year :
Courts : All High Courts (13956) Punjab and Haryana HC (457)
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Arm’s length price in case of interest on extended credit period granted to an Associated Enterprise shall be determined on the basis of USD LIBOR and not on any other currency denominated loan rate

Case Name : Deputy Commissioner of Income Tax Vs Tech Mahindra Limited (ITAT Mumbai)
Appeal Number : ITA No. 1176/Mum/2010
Date of Judgement/Order : 30/06/2011
Related Assessment Year : 2004-05
Courts : All ITAT (14953) ITAT Mumbai (3584)
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CIT (A) Guilty of ‘Contempt’ For Not Following ITAT Verdict

Case Name : M/s. Cargo Handling Private Workers Pool Vs. DCIT (ITAT Visakhapatnam)
Appeal Number : ITA Nos. 152 to 156/Vizag/2011
Date of Judgement/Order : 19/07/2011
Related Assessment Year : 1997- 98, 1998- 99, 2005- 06, 2006- 07 & 2007- 08
Courts : All ITAT (14953) ITAT Visakhapatnam (139)
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Penalty cannot be imposed merely for non allowance of deduction

Case Name : Commissioner of Income Tax- IV Vs Dharampal Premchand Ltd. (Delhi High Court)
Appeal Number : It Appeal No. 912 of 2010
Date of Judgement/Order : 13/09/2010
Related Assessment Year :
Courts : All High Courts (13956) Delhi High Court (3377)
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Unless there is positive act on part of creditor in current year providing benefit to assessee by way of remission, outstanding credit liability cannot be held to have been remitted in favour of assessee

Case Name : Income-tax Officer, Ward 1(1), Surat Vs Bhavesh Prints (P.) Ltd. (ITAT Ahmedabad)
Appeal Number : IT Appeal No. 1302 (AHD.) of 2010
Date of Judgement/Order : 17/06/2011
Related Assessment Year : 2007-08
Courts : All ITAT (14953) ITAT Ahmedabad (1127)
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Despite Tax Avoidance, 100 Per cent Depreciation on Sale and Lease Back Allowable – Delhi High Court

Case Name : Commissioner of Income Tax Vs M/s Cosmo Films Limited (Delhi High Court)
Appeal Number : ITA 1404/2008
Date of Judgement/Order : 18/07/2011
Related Assessment Year :
Courts : All High Courts (13956) Delhi High Court (3377)
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Determining the characterisation of an entity before the selection of most appropriate method is critical

Case Name : Fulford (India) Ltd. Vs DCIT (ITAT Mumbai)
Appeal Number : I.T.A.No 8312/Mum/2010
Date of Judgement/Order : 04/07/2011
Related Assessment Year : 2006-07
Courts : All ITAT (14953) ITAT Mumbai (3584)
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When a payment is compensatory in nature and not related to any deposit/debt/loan, then such a payment is out of ambits of provisions of section 194A

Case Name : ITO Vs Parag Mahasukhlal Shah (ITAT Ahmedabad)
Appeal Number : IT Appeal No. 2075 (AHD.) of 2008
Date of Judgement/Order : 30/06/2011
Related Assessment Year : 2005-06
Courts : All ITAT (14953) ITAT Ahmedabad (1127)
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Payment made for online banner advertisement on the portal of a foreign company not taxable as royalty

Case Name : Yahoo India (P.) Ltd. Deputy Commissioner of Income-tax (ITAT Mumbai)
Appeal Number : IT Appeal No. 506 (MUM.) of 2008
Date of Judgement/Order : 24/06/2011
Related Assessment Year : 2004-05
Courts : All ITAT (14953) ITAT Mumbai (3584)
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Lease rentals earned by a developer of Software Technology Park should be treated as business income

Case Name : DCIT Vs Golflink Software Park P Ltd. (ITAT Bangalore)
Appeal Number : 40 and 41/Bang/10
Date of Judgement/Order : 31/05/2011
Related Assessment Year : 2005-06 & 2006-07
Courts : All ITAT (14953) ITAT Bangalore (1081)
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