Income Tax : 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...
Income Tax : In the cited case, ITAT held that the Assessing Officer does not have power to embark upon the fresh enquiry with regard to the en...
Income Tax : In the case of Sandvik Asia Limited vs. DCIT, Bombay High Court held that the payment made by the Appellant in its nature is diff...
Income Tax : In the case of CIT Vs. M/s.Deogiri Nagari Sahakari Bank Ltd. & Others , Bombay High Court inter-alia held that the assessee herein...
Income Tax : In the case of CIT vs. Suman Dhamija, the Supreme Court held that CBDT Instruction specifying monetary limits for filing appeals a...
, High Court inter-alia held that mere fact that an entity makes high/extremely high profits/losses does not, ipso facto, lead to its exclusion from the list of comparables for the purposes of determination of ALP.
In the case of ACIT vs M/s.Goel Investments Ltd., ITAT Lucknow affirmed the earlier order of ITAT in a similar case of the same assessee that once provisions of section 14A of the IT Act are to be invoked, the disallowance is to be computed as per rule 8D of the IT rules.
In the case of CIT vs M/s.Motherson Auto P. Ltd, Delhi High Court held that the monopoly enjoyed by the assessee in respect of the product manufactured, the continuous functioning, the large volume of orders at hand when the collaboration transaction took place, were sufficient basis for valuation.
In the cited case, ITAT inter-alia held that merely because prices of land has gone up, rent cannot be increased particularly to persons covered u/s 40A(2)(b) of the I.T Act without looking into agreement in respect of rent for the earlier years and for the present year
In the cited case, Delhi High Court held that the Iraqi Government’s inability to pay due to sanctions imposed by it and the subsequent Central Government’s negotiating an arrangement for its payment through bonds that were to mature in future with interest did not in any way alter their character
In the cited case, Delhi High Court held that the building had been developed to be sold or let out with no possibility of the terrace floor being subjected to such utilization. As there is no other purpose to be served by the property held on the terrace floor
