Rishabh Mehra - Page 10

Section 263 can be invoked for late deduction and deposit of TDS

Menally Sayaji Engineering Ltd. Vs CIT (ITAT Kolkata)

ITAT Kolkatta has held In the case of Menally Sayaji Engineering Ltd. VS -CIT that if assessee failed to deduct TDS during the previous year on payments of management service fee and royalty debited to the profit and loss account and if in his Assessment Order Passed U/s. 143(3)...

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AO cannot made addition for Anonymous donations treated as Income by Assessee

M/s Saraswati Educational Charitable Trust Vs ITO (ITAT Lucknow)

Respective court was of the view that section 68 has no application because the same had already been taken in income of the assessee so it no where remains undisclosed. Moreover the assessee has duly discharged its onus to prove the credit worthiness of the donor by giving the list of the same ...

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Payment for rights to use know-how and technology without ownership is revenue expenditure

Commissioner of Income Tax Vs Hero Honda Motors Limited (Delhi High Court)

As the only rights to use the know-how and the technology has been granted to the assessee not the ownership of the know-how has been transferred .The ultimate ownership remains with the Honda Motorcycle company Limited....

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TDS on payment to doctors working in hospital under section 192 or 194J?

The Commissioner of Income Tax Vs Grant Medical Foundation (Bombay High Court)

The hospital had hired the doctors i.e professionals for their expertise, experience, and skill in the profession and requests them to be associated with the hospital, then their engagement cannot be said to be of employer-employee relationship. ...

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Unabsorbed depreciation can be set off against capital gain from sale of depreciable asset

M/s. Southern Travels Vs The Assistant Commissioner (Madras High Court)

Hon’ble High Court relied on the decision of Cocanada reported in 57 ITR 306 and Sasoon V/s CIT in which it was held that carry forward unabsorbed depreciation can be set off against the capital gain from sale of depreciable asset. ...

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Customization of electronic data amounts to manufacture for claiming exemption u/s 10B

Commissioner Of Income Tax Vs Ms. Kiran Kapoor (Delhi High Court)

The assessee’s effort of collection, designing, layout, refining the photographs to make the book ready to print out is manufacturing and the same is also exported outside India so exemption u/s 10B cannot be denied....

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Section 158B – Initiation of Block Assessment without Valid satisfaction is invalid

The Commissioner of Income Tax Vs Manoj Bansal (Delhi High Court)

Hon’ble High Court is of the opinion that the note written by the AO lacks satisfaction as required u/s 158BD.In other words there is lack of the satisfaction of the AO that there is material that the respondent assessee had undisclosed income. ...

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Exemption u/s 11 cannot be denied on giving interest free loan and renting of property

St. Joseph's Technical School Vs Asst. DIT(E) (ITAT Mumbai)

Interest free loan given by the assessee society to another society with identical object cannot be treated as investment or deposit in which event there is no violation of section 13(1)(d) row’s. 11(5) of the Act....

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Ground of ill health without any cogent material for condonation of delay not sustainable

Mrs. P. S. Rajeswari Vs Assistant Commissioner Of Income Tax (Madras High Court)

Tribunal held that the explanation regarding the illness of husband offered by one of the assessee Mrs P.S Rajeshwari was untenable.The tribunal further pointed out that plea of illness between November,2010 and November 2013 and sudden regaining of health was not supported by evidence. ...

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Investment for Leveling and filling of new agriculture land cannot be Claimed as exemption U/s 54B

A.C.I.T. Vs Smt Sudha Jajodia (ITAT Kolkatta)

Appeal of the revenue stands allowed and only the cost of theland has to be considered for calculating exemption u/s 54B no other expenses will be taken into account. So ITAT disallowed the expenses of leveling and filing of land and set aside the order of CIT(A) and restore that of A.O on this issue....

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