Income Tax : In the case of Shri Vishal Dipak Shah Vs. Addl. CIT Mumbai Bench of ITAT held that Principle of Res judicata does not apply to the...
Income Tax : ACIT Vs. Sagar Nitin Parikh (ITAT Mumbai) In the instant case, the assessee has constructed a house prior to the date of transfer ...
Income Tax : G. Indhirani Vs. DCIT (ITAT Chennai) The only issue arises for consideration is with regard to levy of fee under Section 234E of t...
Income Tax : In the case of DCIT Vs. Deepak Chaudhary Kolkata Bench of ITAT have held that the assessee has cumulatively satisfied all the cond...
Income Tax : In the case of M/s. Cash Edge India (Pvt.) Ltd., vs. ITO Delhi Bench of ITAT have held that transfer pricing adjustment is not one...
Income Tax : In the case of ITO Vs. M/S JAGDAMBA OPTICS PVT. LTD. Delhi Bench of ITAT have held that there was existence of correct information...
Income Tax : In the case of Eli Lilly & Co. (India) Pvt. Ltd. Vs. ACIT Delhi bench of ITAT have held that as there is no change in the facts fo...
Income Tax : In the case of M/s DDRC SRL Diagnostic P Ltd. Vs. ITO Mumbai Bench of ITAT have held that If the hospitals/laboratories act as mer...
There are various case laws which conclude the facts that once the assesse discharged its primary onus by placing material and document on record before AO then it is assumed that the unexplained amount reflected in books of assessee stands explained.
Assessee is a company engaged in the business of manufacturing and sale of cycle chains, wheel and axles. Assessee its return of income for AY 1997-98 was filed disclosing loss of Rs. 27,09,520/- and income of Rs. 1,08,544/- under the provisions of Section 115J.
Whether in absence of proper service of notice u/s 143 (2) assessment proceedings for relevant Assessment year can be validated.
The reassessment proceedings were invalid, inasmuch as, the notice under Section 148 was issued by the Income Tax Officer, Ward -3, Gurgaon, who is not vested with the jurisdiction over the appellant.
The object and activities of the assessee were entrusted to it by RBI as a part of its supervisory role over the bank in India. Revenue doubted that assessee is engaged in commercial activities and hence proviso of section 2 (15) was applicable to the case of assessee and hence not eligible for exemption u/s 11.
Whether assessee has defaulted in payment in payment of additional amount of income-tax payable on the income disclosed in the original application and provision of section 245D (2C) can be invoked in such circumstances.
Clearing difference has been determined on the basis of statement of purchase and sales of shares of security made on assessee’s behalf by the broker. CIT(A) decided this issue after examining the ledger accounts maintained by the assessee and contract notes issued by the broker.
Whether expenditure paid in cash, which is not disallowed u/s 37 (1), can be disallowed under section 40A(3). Whether provision of section 54F are applicable where nature of property turned into commercial purpose.
These are the appeals filed by revenue against which assessee also filed cross-objection relevant to three AYs. In these cases ITAT examined various issues and held that capital gain on transfer of land held as stock-in-trade can be made only in the year in which stock-in-trade was sold and not in year in which agreement was made.
Once the registration u/s 12AA granted to trust and the activities of the trust are genuine and as per object of the trust, CIT or any other authority empowered in this behalf cannot cancel registration on ground of involvement of trust in any activity other than charitable purpose.
