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Income Tax : The Delhi High Court dismissed the Revenue's appeals in CIT-1 v. Casio India Co. Pvt. Ltd. for AY 2012-13 and 2013-14, affirming t...
Income Tax : The Tribunal found the addition uncalled for. cash deposits from the sale of old vehicles, accepted as genuine sales by the AO, ca...
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Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...
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Atos India Pvt. Ltd. Vs DCIT (ITAT Mumbai) The issue under consideration is whether the assessment initiated in the name of a non-existing entity is justified in law? ITAT states that, even after the learned DRP taking into account the fact of merger and passing order by giving directions to the learned AO in the […]
The issue under consideration is whether the marketing expenditure incurred on account of issuance of handsets on free of cost basis is allowed as business expense or not?
The issue under consideration is whether the re-opening of assessment u/s 147 of the Act is justified in law?
The issue under consideration is whether the provision for warranty is allowable as deduction when the assessee has not made provision on a scientific basis?
The issue under consideration is whether the architectural services provided to Singapore Entity taxable at 10% or 20% when the benefit of Double Taxation Avoidance Agreement (DTAA) is available?
whether addition made by AO u/s 68 as Unaccounted/Unexplained Income by treating the Long Term Capital Gain as Manipulated Transaction is justified in Law?
The issue under consideration is whether order passed by the AO held that the draft order framed under Section 144C(1) of the Income Tax Act is in the name of a non-existent company is sustainable in law?
The issue under consideration is whether transfer pricing adjustment as notional interest and charging it to tax, disregarding the provisions of Article 11 of India Cyprus DTAA is justified in law?
The issue under consideration is whether the issue of notice u/s 153C instead of section 153A is considered as valid assessment or not?
ITAT states that, anyhow disallowing 10% of the expenditure on the ground that profit leakage has to be plugged cannot be supported. Keeping in view the facts and circumstances of the case, some disallowance of a random amount of 5 lakhs, in our view, would meet the end of justice. In the result, the balance disallowance is deleted and the appeal of the assessee is allowed in part.
