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Lease Premium Paid to CIDCO is a Capital Expenditure, Thus Not Liable to TDS

Income Tax : In the Case of Income Tax Officer (TDS) Vs. M/s Progressive Civil Engineers Private Limited, ITAT Mumbai held that Lease Premium ...

February 2, 2016 4899 Views 0 comment Print

No time limit for compliance of direction or findings of appellate forum

Income Tax : Common appeal is raised by the assessee against the order of CIT relating to assessment year 2001-02 & 2005-06, therein CIT by vir...

January 16, 2016 3457 Views 0 comment Print

If AMP is an International Transaction than TPO have jurisdiction over it even without any reference by A.O.

Income Tax : M/s Nikon India (Pvt) Ltd. Vs. DCIT (ITAT Delhi) In the light of various case laws & on bare reading of the provision prescribed i...

January 16, 2016 873 Views 0 comment Print

Interest Income is capital receipt only if it is inextricably linked with project

Income Tax : In the Case of ACIT VI, Kanpur vs. Z Square Shopping Mall Private Limited, ITAT held that the interest earned on FDR, Gains from i...

December 26, 2015 5782 Views 0 comment Print

If there is no loss to revenue then there would be no Disallowance and Rule 8D is not applicable for A.Y. 2007-08

Income Tax : M/s Trident Limited vs. The Addl. CIT (ITAT Chandigarh) Assessee company made an investment of Rs. 5038.88 lacs and Rs. 4575.77 La...

October 27, 2015 3827 Views 0 comment Print


Latest Posts in gurpreet kaur

Lease Premium Paid to CIDCO is a Capital Expenditure, Thus Not Liable to TDS

February 2, 2016 4899 Views 0 comment Print

In the Case of Income Tax Officer (TDS) Vs. M/s Progressive Civil Engineers Private Limited, ITAT Mumbai held that Lease Premium payment made to CIDCO is to acquire capital asset being long term holding rights along with right to construct and therefore it is capital expenditure in nature.

No time limit for compliance of direction or findings of appellate forum

January 16, 2016 3457 Views 0 comment Print

Common appeal is raised by the assessee against the order of CIT relating to assessment year 2001-02 & 2005-06, therein CIT by virtue of Sec 263 of Income Tax Act, 1961(ACT) ordered assessing officer to make fresh assessment for said asstt year

If AMP is an International Transaction than TPO have jurisdiction over it even without any reference by A.O.

January 16, 2016 873 Views 0 comment Print

M/s Nikon India (Pvt) Ltd. Vs. DCIT (ITAT Delhi) In the light of various case laws & on bare reading of the provision prescribed in Act: ITAT held that as AMP is an international Transaction and TPO is having jurisdiction over it even without any reference is made by A.O.

Interest Income is capital receipt only if it is inextricably linked with project

December 26, 2015 5782 Views 0 comment Print

In the Case of ACIT VI, Kanpur vs. Z Square Shopping Mall Private Limited, ITAT held that the interest earned on FDR, Gains from investment of Mutual Fund is not inextricably linked or connected with the construction activities

If there is no loss to revenue then there would be no Disallowance and Rule 8D is not applicable for A.Y. 2007-08

October 27, 2015 3827 Views 0 comment Print

M/s Trident Limited vs. The Addl. CIT (ITAT Chandigarh) Assessee company made an investment of Rs. 5038.88 lacs and Rs. 4575.77 Lacs as on 31.03.2006 & 31.03.2007 in various tax free equity funds, from which assessee company gain an dividend of Rs. 46,91,849/-.

Interest Expense would be allowed only if there is nexus between Expense and Income Earned

October 21, 2015 2220 Views 0 comment Print

In the case of ACIT Vs. Shri JugalKishore K. Agrawal, ITAT Ahmedabad on the basis of revenue observation and after going thought the case file, held that if there is no nexus between the interest income earned and interest paid, then interest paid cannot be allowed within preview of section 57(iii).

Cancellation of Registration U/s 12AA(3) should be based on activities of Trust and not of Trustees

August 14, 2015 3658 Views 0 comment Print

In the case of Friends of WWB India Vs The Director of Income Tax (Exemption) Ahmedabad, it was held that registration u/s 12AA cannot be cancelled under the provision of section 12AA(3) unless the activities of trust are not found in accordance with the provision rather than the trustees.

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