Income Tax : In the Case of Sapient Consulting Limited vs. DCIT, ITAT Delhi relying upon the order of Jurisdictional High Court held that frami...
Income Tax : In the case of Shashi Gupta vs. ITO, the Delhi Tribunal while considering the effective date of transfer of immovable property for...
Income Tax : In the case of Shree Hari Agro Industries Ltd. Vs. DCIT, the Kolkata Tribunal on the issue of disallowance of alleged excess consu...
Custom Duty : In the Case of M/s GMR Energy Ltd vs. Commissioner of Customs, Bangalore, Hon’ble Supreme Court while dealing with the appeal of...
Corporate Law : In the case of Shamsher singh verma vs. State of Haryana, the Apex court on the point of admissibility of evidence held that the â...
The assessee filed its return of income on 02.12.2013, which was processed u/s 143(1) at the returned income and accordingly refund order of Rs.20,16,957/- was issued. Subsequently A.O. based on reporting made by statutory auditor in the audit report in the form of 3CD u/s 44AB
CIT vs Noida Medicare Centre Ltd (Delhi High Court) Even though the sales tax was paid in a subsequent year, the liability to pay sales tax arose in the accounting period relevant to the assessment year in which the machinery was purchased.
CIT vs. Vaish Associates (Delhi High Court) A plain reading of Clause 6(a) leads to a conclusion that the term’ allocable profits’ was used to mean ‘book profits’ as used in Section 40(b)(v)of the Act or otherwise the reference to the section in the Clause has no meaning.
Shri Vinit Ranawat vs. ACIT (ITAT Pune)- Referring to the provisions of section 153A he submitted that the same is to be invoked for making an assessment of the person searched on the basis of the material found during the course of search on that person.
In A.C.I.T. vs. Kiran Industries Pvt Ltd, the Ahmedabad Tribunal following its co-ordinate bench decision and relying upon the decision of Hon’ble High Court (T&AP) held that excise duty component need not to be included in valuation of inventory if the assessee is following exclusive method of accounting.
High Court of Bombay at Goa held in the case of CIT vs. V. S. Dempo & Company Ltd. Held that view taken by the Assessing Officer or by the Commissioner has to be on the basis of the law prevailing on the day the view was taken.
In the case of The Quepem Urban Co-operative Credit Society Ltd vs. ACIT High Court of Bombay at Goa held that All three conditions of 5(1)(ccv) are to be satisfied cumulatively by a society for being termed as co-operative bank.
High Court of Bombay at Goa has held in the case of Vassantram Mehta & Co. (P) Ltd. vs. JCIT that Interest not to be disallowed if interest free advance granted to sister concern due to commercial expediency and is for business purpose of assessee.
High Court of Bombay at Goa has held in the case of In the case of M/s Mavany Brothers vs. CIT that that it is settled position that conferment of jurisdiction is a legislative function and cannot be conferred by consent of petitioner.
In view of the petition filed by the assessee above, the court directed the respondent would vacate the attachment of the refund of Rs.105,95,04,390/- done u/s 281B of the act, as the petitioner was furnishing a Bank Guarantee of a Nationalised Bank for the equal amount
