Shruti Juneja

Sorry No Post Found
Sorry No Post Found

Sale proceeds of Flags on Women’s Day Pursuant to govt. order are capital receipts

Kittur Rani Channamma Vs ACIT (ITAT Panaji) - Assessing Officer found that the assessee has received a sum of Rs. 29,03,109/- on account of sale of Women’s Day Flags and the same has been credited to the capital fund and he treated the same as revenue receipt. On Appeal Honourable ITAT has held that sale proceeds of flags on Women’s Day ar...

Read More

Section 2(15) Hostel accommodation provided to various invitees could be considered as commercial activity? 

India International Centre Vs ADIT (ITAT Delhi) - The predominant activities of the centre was not to earn income but to provide facilities for disseminating or exchanging knowledge as per the object of the society The dominant object of the assessee is definitely for the well being of public at large by organizing various seminars for...

Read More

TDS claimed by the assessee can be treated as income of the assessee if the same has been taxed on substantive basis

ACIT Vs M/s IBN Media & Software Limited (ITAT Lucknow) - Protective assessment made by the Assessing Officer in the present case cannot be sustained because substantive addition has been made in the hands of IBN-18 Broadcast and therefore, if any addition is made in the present case, it will amount to double addition. ...

Read More

Allowability of deduction U/s. 80IB(10) on construction of units more than the permitted

ITO Vs M/s. Nirman Enterprise (ITAT Ahmedabad) - The assessee has filed its return of income on 31-12-2006 declaring total income at Rs. Nil. The assessee had claimed deduction at Rs. 1,91,400/- u/s. 80IB(10) of the income tax act. The Point of issue was the assessee has carried out the construction in violation of the original plan passed by AUDA...

Read More

Mere declaration of supplier as ‘Hawala dealer’ by Vat Authorities not sufficient to made addition U/s. 69C

ITO Vs Paresh Arvind Gandhi (ITAT Mumbai) - Brief Facts:Assessee, an individual,proprietor of M/s. Hydro Pure System,is engaged in the business of installation,erection and servicing of water purifying systems.He is deriving income from business and other sources. He filed his return of income on 28.9.10,declaring total income of Rs.18.40 lac...

Read More
Sorry No Post Found

Recent Posts in "Shruti Juneja"

Sale proceeds of Flags on Women’s Day Pursuant to govt. order are capital receipts

Kittur Rani Channamma Vs ACIT (ITAT Panaji)

Assessing Officer found that the assessee has received a sum of Rs. 29,03,109/- on account of sale of Women’s Day Flags and the same has been credited to the capital fund and he treated the same as revenue receipt. On Appeal Honourable ITAT has held that sale proceeds of flags on Women’s Day are in the nature of capital receipts. ...

Read More

Section 2(15) Hostel accommodation provided to various invitees could be considered as commercial activity? 

India International Centre Vs ADIT (ITAT Delhi)

The predominant activities of the centre was not to earn income but to provide facilities for disseminating or exchanging knowledge as per the object of the society The dominant object of the assessee is definitely for the well being of public at large by organizing various seminars for...

Read More

TDS claimed by the assessee can be treated as income of the assessee if the same has been taxed on substantive basis

ACIT Vs M/s IBN Media & Software Limited (ITAT Lucknow)

Protective assessment made by the Assessing Officer in the present case cannot be sustained because substantive addition has been made in the hands of IBN-18 Broadcast and therefore, if any addition is made in the present case, it will amount to double addition. ...

Read More

Allowability of deduction U/s. 80IB(10) on construction of units more than the permitted

ITO Vs M/s. Nirman Enterprise (ITAT Ahmedabad)

The assessee has filed its return of income on 31-12-2006 declaring total income at Rs. Nil. The assessee had claimed deduction at Rs. 1,91,400/- u/s. 80IB(10) of the income tax act. The Point of issue was the assessee has carried out the construction in violation of the original plan passed by AUDA and therefore violated the condition of...

Read More

Mere declaration of supplier as ‘Hawala dealer’ by Vat Authorities not sufficient to made addition U/s. 69C

ITO Vs Paresh Arvind Gandhi (ITAT Mumbai)

Brief Facts:Assessee, an individual,proprietor of M/s. Hydro Pure System,is engaged in the business of installation,erection and servicing of water purifying systems.He is deriving income from business and other sources. He filed his return of income on 28.9.10,declaring total income of Rs.18.40 lacs ....

Read More

Retention Money taxable when right to receive accrues not on mere billing

ACIT Vs Naranlala Pvt. Ltd (ITAT Ahmedabad)

The assessee submitted that the retention money which was payable after expiry of plant performance guarantee period is over, did not accrue to it on the supply of plant / equipment, hence the same cannot be considered as income of the assessee as the amount did not accrue or become due at that time....

Read More

Depreciation on Goodwill is Allowed or not?

M/s. Sujag Fine Chemicals Pvt. Ltd. Vs ITO (ITAT Ahmedabad)

By plain reading the words 'any other business or commercial rights of similar nature' in clause (b) of Explanation 3 to section 32 indicates that goodwill would fall under the expression 'any other business or commercial right of a similar nature'. ...

Read More

Testing and Consultancy Services provided for a fees without profit motive not falls within the ambit of Section 2(15)

Association of State Road Transport Vs CIT (ITAT Delhi)

Assessee association was established with the main object of improving public transport system in the country and its objects as per memorandum of association clearly reveals that the objects of the assessee association are dedicated towards improving road safety standards ...

Read More

Consultancy services and Independent personal services in the context of a DTAA explained

CIT Vs Grup ISM P. Ltd. (Delhi High Court)

Since the income of CGS International and Marble Arts & Crafts can only be classified under Article 14 or Article 22 of the DTAA – both of which provide that the income shall be taxable in the State of residence (UAE)–the issue as to whether the services provided by the two UAE entities fall within the scope of professional services u...

Read More

Is Loss from derivative trading is a speculation loss & can it be set-off against normal business profits

ITO Vs Emperor International Ltd (ITAT Delhi)

In the present case, it is an admitted fact that the assessee was engaged in the business of dealing in shares & securities and has incurred loss from dealing in derivatives (shares futures). It is not the case of the AO that the share futures in which the assessee was dealing were not recorded in recognized Stock Exchange, the loss incur...

Read More
Page 1 of 212

Browse All Categories

CA, CS, CMA (3,480)
Company Law (3,398)
Custom Duty (6,603)
DGFT (3,446)
Excise Duty (4,043)
Fema / RBI (3,249)
Finance (3,453)
Income Tax (25,013)
SEBI (2,733)
Service Tax (3,280)

Search Posts by Date

September 2017
M T W T F S S
« Aug    
 123
45678910
11121314151617
18192021222324
252627282930