Income Tax : ITAT Delhi in DCIT Vs Deepsons Southend held that if there is change in the profit sharing ratio of the partnership and all the pa...
Income Tax : ITAT New Delhi held in ACIT Vs Phonix Lamps India Ltd that if the assessee was selling its final product to particular parties con...
Income Tax : ITAT Chandigarh held in Lakshmi Energy & Foods Products Ltd Vs The ACIT that if the assessee was following mercantile method of ac...
Income Tax : 1.ITAT Mumbai held in the case of Asst. DIT Vs M/s Hongkong and Shanghani Banking Corporation Ltd that the broken period interest...
Income Tax : ITAT held in Acclaris Business Solutions Lvt Ltd. Vs I.T.O that only those companies could be compared for calculating ALP which w...
ITAT Delhi held in Executive solutions Pvt Ltd Vs ITO that reasonable opportunity of being heard should be given to the assessee as per the principle of natural justice irrespective of the fact the number of times opportunity of being heard had already been given to the assessee.
Kolkatta High court held Shyam Burlap Company Ltd Vs CIT that as the assesse’s main business is purchasing, developing and letting out of property. The same was mentioned in the object clause of memorandum of the company.
Madras High Court in M/s Natya sankalpaa Vs DIT Exemptions held that if the trustee would compensate the trust with the amount which trust had applied on the property of the trustee then it could not be said that the income of trust had applied to the benefit of trustee
Madras High Court held in CIT Vs M/s MIL Industries Ltd that the vacant land left on constructed property as per the construction plan of that property would not be treated as a vacant urban land because the vacant land left was the requirement of the construction plan
Madras High Court in CIT Vs K Rajinikanth (Madras High Court) held that for computing the income for calculating the deduction u/s 80IA, only the profits & Losses of the eligible business had to be taken into consideration as if it was the only business of the assessee.
Madras High Court held in CIT Vs M/s Schwing Stetter India P Ltd that the case only be opened for re-assessment u/s 147 only if there was a tangible material in the hand of AO , it could not be opened just because of the change in the opinion of AO.
Madras High court in CIT Vs M/s Sea Rose Marines Pvt Ltd (Madras High Court) held that if the notice was not issued to the assessee properly then the ITAT had the right to review its own order. The ITAT had recalled the order and gave new decision after reviewing
Madras High Court held in CIT V/s Ms Orient Express that the amendment to sec 80HHC would have prospective effect from 2005 not retrospective effect.
Madras High Court held in CIT Vs Ms Vidya Thangakumar that it would vary from case to case that whether the land in the hand of assessee is a capital asset or business stock. In the present case the assessee had got the land under settlement and it had to sell the land
Madras High Court in the case of CIT Vs M/s Southern Petrochemicals Industries Corporation Ltd held that market research expense incurred to increase the efficiency of the existing business product line, the same should be treated as revenue expense.
