Income Tax - In the last quarter of the financial year 2000-0 1, a serious controversy arose in the Income-Tax Department and export circles of Mumbai. The controversy related to the issue whether deduction U/S 80-HHC of the Income-Tax Act, 1961 (the Act), is allowable in respect of export incentives viz. cash compensatory support (CCS), duty drawback...
Income Tax - In the present case, according to the Finance Minister presenting the Bill, a valid piece of legislation has been wrongly interpreted by the Tribunal. We have already pointed out that according to the existing law, if a valid piece of legislation is wrongly interpreted by the Tribunal, the aggrieved party should move higher judicial forum...
Shah Originals Vs CIT (Supreme Court of India) - Supreme Court held that profits earned on account of foreign exchange fluctuation cannot be included/ treated as derived from the business of export income. Accordingly, deduction under section 80HHC of the Income Tax Act not available....
Mastek Limited Vs ACIT (Gujarat High Court) - Gujarat High Court held that Challenge to notice issued under section 154 of the Income Tax Act is maintainable under Article 226 of the Constitution of India....
Digamber Jain Atikshaya Keshtra VPO Bada Vs ITO (ITAT Jaipur) - ITAT Jaipur held that reassessment of income under section 147 of the Income Tax Act other than income in respect of which AO has formed a reason to believe that the income has escaped assessment is unsustainable in law....
DCIT Vs Bajaj Holdings & Investment Ltd. (ITAT Mumbai) - ITAT Mumbai held that technical know-how fee received by the assessee falls under the category of royalty as defined in Section 80-O of the Income Tax Act and hence is eligible for deduction u/s. 80-O of the Income Tax Act, 1961....
BA Continuum India Private Limited Vs ITO (ITAT Mumbai) - Read about ITAT Mumbai's decision in BA Continuum India Private Limited Vs. ITO regarding deduction u/s 10A of Income Tax Act before set-off of business loss and depreciation....
Shah Originals Vs CIT (Supreme Court of India) -
Mastek Limited Vs ACIT (Gujarat High Court) -
Digamber Jain Atikshaya Keshtra VPO Bada Vs ITO (ITAT Jaipur) -
DCIT Vs Bajaj Holdings & Investment Ltd. (ITAT Mumbai) -
BA Continuum India Private Limited Vs ITO (ITAT Mumbai) -
Hindustan Unilever Limited Vs ACIT (ITAT Mumbai) -
Sarda Gums & Chemicals F-54 Vs ACIT (ITAT Jodhpur) -
MMTC Ltd Vs DCIT (ITAT Delhi) -
ACIT Vs Neena Hardeep Singh (ITAT Delhi) -
Grasim Industries Ltd Vs CIT (ITAT Mumbai) -