Girish Aradhya

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Second proviso to sec.40(a)(ia) of the IT Act is curative and it has retrospective effect w.e.f. 1st April, 2005

Income Tax Officer Vs Shri Bimal Biswas (ITAT Kolkata) - In the case of ITO Vs Bimal Biswas, ITAT of Kolkata set aside the issue to the file of AO and directed the assessee to produce the relevant evidence in respect payees of carriage charges whether they have included the carriage receipts in the respective returns of income and paid taxes on the said i...

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AO cannot make changes in accounts certified under Companies Act for Computing book profit

M/s. Forever Diamonds Pvt. Ltd Vs Deputy Commissioner of Income Tax (ITAT Mumbai) - In the cited case, ITAT held that the Assessing Officer does not have power to embark upon the fresh enquiry with regard to the entries made in the books of accounts of the Company when the accounts of an assessee Company is prepared in terms of Part II Schedule VI...

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Aim & object of expenditure would determine character of payment- HC

M/s. Sandvik Asia Limited Vs Deputy Commissioner of Income Tax (Bombay High Court) - In the case of Sandvik Asia Limited vs. DCIT, Bombay High Court held that the payment made by the Appellant in its nature is different from a payment made to protect the property. In fact, Supreme Court in the case of Assam Bengal Cement Co. Ltd. v/s. CIT 27 ITR 34 ...

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Accrued Interest on Sticky advances of Co-Operative Banks not taxable

The Commissioner of Income Tax vs M/s.Deogiri Nagari Sahakari Bank Ltd. & Others (Bombay High Court, Aurangabad Bench) - In the case of CIT Vs. M/s.Deogiri Nagari Sahakari Bank Ltd. & Others , Bombay High Court inter-alia held that the assessee herein being a Cooperative Bank also governed by the Reserve Bank of India and thus the directions with regard to the prudential norms issued by the Reserve Bank of India...

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CBDT Instruction- specifying monetary limits for filing appeals has prospective effect

CIT Vs. Suman Dhamija (Supreme Court of India) - In the case of CIT vs. Suman Dhamija, the Supreme Court held that CBDT Instruction specifying monetary limits for filing appeals applicable only to appeals filed after that date and not to pending appeals....

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Recent Posts in "Girish Aradhya"

Second proviso to sec.40(a)(ia) of the IT Act is curative and it has retrospective effect w.e.f. 1st April, 2005

Income Tax Officer Vs Shri Bimal Biswas (ITAT Kolkata)

In the case of ITO Vs Bimal Biswas, ITAT of Kolkata set aside the issue to the file of AO and directed the assessee to produce the relevant evidence in respect payees of carriage charges whether they have included the carriage receipts in the respective returns of income and paid taxes on the said income...

Read More

AO cannot make changes in accounts certified under Companies Act for Computing book profit

M/s. Forever Diamonds Pvt. Ltd Vs Deputy Commissioner of Income Tax (ITAT Mumbai)

In the cited case, ITAT held that the Assessing Officer does not have power to embark upon the fresh enquiry with regard to the entries made in the books of accounts of the Company when the accounts of an assessee Company is prepared in terms of Part II Schedule VI...

Read More

Aim & object of expenditure would determine character of payment- HC

M/s. Sandvik Asia Limited Vs Deputy Commissioner of Income Tax (Bombay High Court)

In the case of Sandvik Asia Limited vs. DCIT, Bombay High Court held that the payment made by the Appellant in its nature is different from a payment made to protect the property. In fact, Supreme Court in the case of Assam Bengal Cement Co. Ltd. v/s. CIT 27 ITR 34 ...

Read More

Accrued Interest on Sticky advances of Co-Operative Banks not taxable

The Commissioner of Income Tax vs M/s.Deogiri Nagari Sahakari Bank Ltd. & Others (Bombay High Court, Aurangabad Bench)

In the case of CIT Vs. M/s.Deogiri Nagari Sahakari Bank Ltd. & Others , Bombay High Court inter-alia held that the assessee herein being a Cooperative Bank also governed by the Reserve Bank of India and thus the directions with regard to the prudential norms issued by the Reserve Bank of India...

Read More

CBDT Instruction- specifying monetary limits for filing appeals has prospective effect

CIT Vs. Suman Dhamija (Supreme Court of India)

In the case of CIT vs. Suman Dhamija, the Supreme Court held that CBDT Instruction specifying monetary limits for filing appeals applicable only to appeals filed after that date and not to pending appeals....

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Depreciation on enhanced cost of asset is allowed from the date when the obligation to pay customs duty arose

Commissioner of Income Tax Vs Noida Medicare Centre Ltd, (Delhi High Court)

In the of CIT Vs. Noida Medicare Centre Ltd, Delhi High Court held that the AO erred in disallowing the capitalization of the additional customs duty in the manner claimed by the Assessee and adding the entire customs duty paid in the relevant AY to the income of the Assessee....

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Comparable transactions/entity must be selected based on similarity with controlled transaction/entity

Rampgreen Solutions Pvt Ltd Vs Commissioner of Income Tax (Delhi High Court)

In the case of Rampgreen Solutions Pvt Ltd vs CIT, Delhi High Court inter-alia held that the expression ‘BPO’ and ‘KPO’ are, plainly, understood in the sense that whereas, BPO does not necessarily involve advanced skills ...

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High Courts, being Courts of Record, have the inherent power of review

Commissioner of Income Tax Vs M/s.Meghalaya Steels Ltd. (Supreme Court of India)

In the case of CIT vs M/s.Meghalaya Steels Ltd. the Supreme Court held that High Courts being Courts of Record under Article 215 of the Constitution of India, the power of review would in fact inhere in them....

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Expense on Charity not entitled to exemption if it not as per objects

Mool Chand Khairati Ram Trust vs DIT (Exemptions) (Delhi High Court)

Delhi High Court In the case of Mool Chand Khairati Ram Trust vs DIT (Exemptions) held that Assessee would not be entitled to exemption under Section 11 of the IT Act if its activities are outside the scope of its objects, even if its activities are charitable in nature....

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Additions only if some incriminating document found during search

Commissioner of Income Tax Vs MGF Automobiles Ltd. (Delhi High Court)

In the case of CIT Vs. MGF Automobiles Ltd., Delhi High Court upheld the order of the ITAT that the additions could have been made by the AO only if some incriminating document was found during search. ...

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