CA Kanhaiya Kumar Agarwal

Sorry No Post Found
Sorry No Post Found

No TDS U/s. 194C on Purchase of Goods Manufactured by supplier as per our specification

DCIT Vs Shalimar Chemical Works Ltd. (ITAT Kolkata) - In the case of DCIT vs. Shalimar Chemical Works Ltd. the Hon’ble Kolkata ITAT held that manufacturing or supplying a product according to the requirement or specification of a customer by using material purchased from a person other than such customer is not included in the definition of the “Wo...

Read More

‘Such income’ in Section 11(1)(a) stands for ‘Gross Income’ not ‘Net Income’

Public Education Society Vs DDIT (Exemptions) (ITAT Bangalore) - Public Education Society Vs DDIT (Exemptions) (Bangalore ITAT) Since the expenditure incurred by the assessee was more than 93% of the gross receipts, no part of the gross receipts are liable to be taxed in the year under consideration, as the balance amount was set apart for application in the next...

Read More

CIT cannot interfere with discretion exercised by AO without any Plausible Reason 

Shri Isharbhai Chotabhai Patel Vs CIT (ITAT Ahmedabad) - ITAT Ahmedabad held In the case of Shri Isharbhai Chotabhai Patel Vs. CIT that ld. Commissioner not justified in interfering in the discretion exercised by the AO without any plausible reason. The estimated opinion formed by the AO can only be interfered...

Read More

Profit from Conversion of Stock-in-trade into Investments is Business Income

ITO Vs M/s. Nupur Carpets Pvt. Ltd. (ITAT Kolkata) - In the case ITO Vs. M/s. Nupur Carpets Pvt. Ltd. the Hon’ble Kolkata ITAT held by converting the stock-n-trade into investment, it does not alter the character, nature and intention of that particular transaction especially in the context of capital gain versus business income. ...

Read More

Interest, Transport and Power Subsidies are eligible Deductions u/s 80IB

DCIT Vs M/s. Maithan Smelters Ltd. (ITAT Kolkata) - In the case DCIT Vs. Maithan Smelters Ltd. the Hon’ble Kolkata ITAT held that the interest subsidy, transport subsidy and power subsidy received by the assessee are eligible for deduction u/s 80IB of the Act....

Read More
Sorry No Post Found

Recent Posts in "CA Kanhaiya Kumar Agarwal"

No TDS U/s. 194C on Purchase of Goods Manufactured by supplier as per our specification

DCIT Vs Shalimar Chemical Works Ltd. (ITAT Kolkata)

In the case of DCIT vs. Shalimar Chemical Works Ltd. the Hon’ble Kolkata ITAT held that manufacturing or supplying a product according to the requirement or specification of a customer by using material purchased from a person other than such customer is not included in the definition of the “Work” ...

Read More

‘Such income’ in Section 11(1)(a) stands for ‘Gross Income’ not ‘Net Income’

Public Education Society Vs DDIT (Exemptions) (ITAT Bangalore)

Public Education Society Vs DDIT (Exemptions) (Bangalore ITAT) Since the expenditure incurred by the assessee was more than 93% of the gross receipts, no part of the gross receipts are liable to be taxed in the year under consideration, as the balance amount was set apart for application in the next year....

Read More

CIT cannot interfere with discretion exercised by AO without any Plausible Reason 

Shri Isharbhai Chotabhai Patel Vs CIT (ITAT Ahmedabad)

ITAT Ahmedabad held In the case of Shri Isharbhai Chotabhai Patel Vs. CIT that ld. Commissioner not justified in interfering in the discretion exercised by the AO without any plausible reason. The estimated opinion formed by the AO can only be interfered...

Read More

Profit from Conversion of Stock-in-trade into Investments is Business Income

ITO Vs M/s. Nupur Carpets Pvt. Ltd. (ITAT Kolkata)

In the case ITO Vs. M/s. Nupur Carpets Pvt. Ltd. the Hon’ble Kolkata ITAT held by converting the stock-n-trade into investment, it does not alter the character, nature and intention of that particular transaction especially in the context of capital gain versus business income. ...

Read More

Interest, Transport and Power Subsidies are eligible Deductions u/s 80IB

DCIT Vs M/s. Maithan Smelters Ltd. (ITAT Kolkata)

In the case DCIT Vs. Maithan Smelters Ltd. the Hon’ble Kolkata ITAT held that the interest subsidy, transport subsidy and power subsidy received by the assessee are eligible for deduction u/s 80IB of the Act....

Read More

Once Labour Payments are made, clear-cut Contract exists between the parties

I.T.O Vs M/s. Talwar Brothers Pvt. Ltd. (ITAT Kolkata)

The Assessee had paid a sum of Rs.9,22,160/- on account of Sewing and Processing Charges without deducting TDS on the same. The AO invoked the provisions of Section 40(a)(ia) of the Act and disallowed the entire amount paid on account of Sewing and Processing Charges....

Read More

Central Excise Refund & Sales Tax Remission are admissible deductions u/s 80IC

Shri Manoj Garg Vs. C.I.T., Kolkata (ITAT Kolkata)

In the case Manoj Garg Vs. ITO the Hon’ble Kolkata ITAT held that both Central Excise Refund and Sales Tax Remission are eligible deductions u/s 80IC and that the CIT was not justified in initiating proceedings u/s 263 of the Act ...

Read More

Notice u/s 274 should specify Grounds of Imposition of Penalty

Shri B L Dasraj Urs Vs I.T.O (ITAT Bangalore)

In the case Shri B L Dasraj Urs Vs. ITO the Hon’ble Bangalore ITAT held that show cause notice u/s 274 is defective if it does not spell out the grounds on which penalty is sought to be imposed....

Read More

Slight difference in Person’s Name does not prove transaction is not genuine

I.T.O Vs Smt. Mala Gupta (ITAT Kolkata)

In the case ITO Vs. Smt. Mala Gupta the Hon’ble Kolkata ITAT held that slight difference in the name of the person does not mean that it is not the same person provided the genuineness of the transaction is proved....

Read More

Donor's Identity, Relationship & Occasion of Gift are essential to prove genuineness of Gift

Shri L. Syed Ibrahim Bahadusha Vs I.T.O (ITAT Bangalore)

A sum of Rs.7 lakhs, shown to have been received as gift from Shri Jamaluddin Sheik Fareed, was treated as unexplained cash credit in the hands of the assessee on the ground that the assessee has not furnished confirmation letter from the party....

Read More
Page 1 of 212

Browse All Categories

CA, CS, CMA (3,519)
Company Law (3,466)
Custom Duty (6,668)
DGFT (3,496)
Excise Duty (4,051)
Fema / RBI (3,290)
Finance (3,495)
Income Tax (25,322)
SEBI (2,757)
Service Tax (3,288)

Search Posts by Date

November 2017
M T W T F S S
« Oct    
 12345
6789101112
13141516171819
20212223242526
27282930