Akhilesh Kumar Sah

For section 10A, total turnover is sum of export & domestic turnover

Income Tax - Section 10A of the Income Tax Act, 1961 (the Act for short) deals with special provision in respect of newly established undertakings in free trade zone, etc....

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Whether Inaugural Expenses Deductible Under Section 37 (1)

Income Tax - Many times reference has been sought regarding the question whether inaugural expenses incurred by a person are deductible under section 37(1) or not while computing the profits & gains from business or profession (of that person)....

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Review of extension of date for filing audit reports & ITRs is a must

Income Tax - It is estimated that a large number of cases are pending, countrywide, for audit as well as filing of related Income Tax Return(ITR), where there is compulsory requirement of audit & filing of ITR upto 31st of October 2017. Central Board of Direct Taxes (CBDT) has done a great job by already extending the due date of 30.09.2017 to 31.10.2...

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Extend Due Dates for Composite scheme & GST Return filing

Income Tax - There are many assessees who are still in the process of migration & many files have not been yet converted at the GST portal as final due to some technical and procedural problems. Also, there are problems in respect of claim of ITC in filing of GST Returns....

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Request to extend due date of filing ITRs from 31st July, 2017 to 30th Sep, 2017

Income Tax - Due to the implementation of the GST law from 01.07.2017 and the necessity of linking of PAN with Aadhaar Number from 01.07.2017 while filing ITR, has caused severe problems to tax-payers....

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Mere change of opinion not sustainable in the eyes of law in respect of reopening of the case: Hitachi Home case

Hitachi Home & Life Solutions (I) Ltd. Vs ACIT (ITAT Ahmedabad) - In Hitachi Home & Life Solutions (I) Ltd. vs. ACIT [ITA Nos. 3045/Ahd/2013 & 104/Ahd/2014, decided on 17.01.2017], briefly, the assessee being a company manufacturing/trading in air conditioners filed return of income on 20.12.2006 stating total income of Rs.15,62,01,340/-. It however returned nil i...

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Section 40(a)(i) not applicable if No tax is deductible U/s. 195(1)

Barclays Bank Plc, Mumbai Vs Addl. DIT (ITAT Mumbai) - If no tax is deductible under section 195(1), section 40(a)(i) of the IT Act will not come in the way of the appellant claiming such deduction from its income: Barclays Bank Plc case...

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Depreciation on Motor Car cannot be disallowed partly on Personal use assumption

ACIT Vs. Claridges Hotels Pvt. Ltd. (ITAT Delhi) - When motor vehicles are in the gross block of the company and used for business it cannot ipso facto lead to an inference that the depreciation has to be partly disallowed on the assumption that these are partly used for personal use: Claridges Hotels case....

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Provision for warranty made on scientific way and based on past history is allowed as deduction

Dell International Services India Pvt. Ltd. vs. DCIT (ITAT Bangalore) - Provisions for expenditures have to be made in the reasonable way otherwise the same may be disallowed while computing the income and tax thereon of an assessee...

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ITAT cannot re-appreciate understanding of order passed

Procter & Gamble Home Products Pvt. Ltd. Vs. Income Tax Appellate Tribunal & Others (Bombay High Court) - The grievance of the Petitioner is that the impugned order dated 28th July, 2017 to the extent it allows the Revenue's application for rectification, is without jurisdiction. This is so as it amounts to review of its order dated 6th June, 2016 which had been passed in an appeal for Assessment Year 2...

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Recent Posts in "Akhilesh Kumar Sah"

Mere change of opinion not sustainable in the eyes of law in respect of reopening of the case: Hitachi Home case

Hitachi Home & Life Solutions (I) Ltd. Vs ACIT (ITAT Ahmedabad)

In Hitachi Home & Life Solutions (I) Ltd. vs. ACIT [ITA Nos. 3045/Ahd/2013 & 104/Ahd/2014, decided on 17.01.2017], briefly, the assessee being a company manufacturing/trading in air conditioners filed return of income on 20.12.2006 stating total income of Rs.15,62,01,340/-. It however returned nil income after adjusting carry forward loss...

Read More

Section 40(a)(i) not applicable if No tax is deductible U/s. 195(1)

Barclays Bank Plc, Mumbai Vs Addl. DIT (ITAT Mumbai)

If no tax is deductible under section 195(1), section 40(a)(i) of the IT Act will not come in the way of the appellant claiming such deduction from its income: Barclays Bank Plc case...

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Depreciation on Motor Car cannot be disallowed partly on Personal use assumption

ACIT Vs. Claridges Hotels Pvt. Ltd. (ITAT Delhi)

When motor vehicles are in the gross block of the company and used for business it cannot ipso facto lead to an inference that the depreciation has to be partly disallowed on the assumption that these are partly used for personal use: Claridges Hotels case....

Read More

Provision for warranty made on scientific way and based on past history is allowed as deduction

Dell International Services India Pvt. Ltd. vs. DCIT (ITAT Bangalore)

Provisions for expenditures have to be made in the reasonable way otherwise the same may be disallowed while computing the income and tax thereon of an assessee...

Read More

ITAT cannot re-appreciate understanding of order passed

Procter & Gamble Home Products Pvt. Ltd. Vs. Income Tax Appellate Tribunal & Others (Bombay High Court)

The grievance of the Petitioner is that the impugned order dated 28th July, 2017 to the extent it allows the Revenue's application for rectification, is without jurisdiction. This is so as it amounts to review of its order dated 6th June, 2016 which had been passed in an appeal for Assessment Year 200405 after due consideration of the ve...

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Merely because tax has been deducted at source on unreported income, it cannot be said that there was no escapement of income

Samsung Electronics Co. Ltd. Vs DCIT (ITAT Delhi)

It cannot be said that there was no escapement of income merely because tax was deducted at source on such income. When it is open under Explanation 3 to section 147 of the Act for the AO to reassess the income on any issue which newly comes to his notice subsequent to the issuance of notice under section 148 of the Act, it cannot be said...

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Foreign countries Lawyers / Law Firms cannot practice law profession in India: SC

Bar Council Of India Vs. A.K. Balaji And Ors. (Supreme Court)

Lawyers of foreign countries or their law firms cannot practice profession of law in India, Bar Council of India or Union of India are at liberty to make appropriate rules in this regard....

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Allowance of bad debt depends on how it is reflected in accounts

Bajaj Auto Finance Ltd Vs CIT (Bombay High Court)

Allowance of bad debt depends on how it is reflected in accounts...

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Posted Under: Income Tax |

Interest on bank deposits when project is being setup is a capital receipt: POSCO India case

ACIT Vs. M/s. POSCO India Pvt Ltd. (ITAT Cuttack)

Taxability of income earned by an assessee during the period when the project was not complete and business had not commenced has remained a debatable point in many cases. ...

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In absence of principal agent relationship section 194H not applicable

DCIT Vs. M/s. Cox & Kings (I) Ltd. (ITAT Mumbai)

When there is direct sale transaction between two principals and there is no principal agent relationship, provisions of section 194H are not applicable...

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Posted Under: Income Tax |
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