ITO Vs Eid Mohammad Nizamuddin (ITAT Jaipur) A consistent view has been taken by the various Hon’ble High Courts on this issue that when no limitation is provided in the statute then a period of four years is considered as reasonable for passing the order U/s 201(1)/201(1A) of the Act. The provisions of Section 206C […]
Mateen Pyarali Dholkia Vs. DCIT (ITAT Mumbai) In the instant case, the profit arising from the sale of shares was received by the assessee directly which constituted its income at the point when it reached or accrued to the assessee. The fee for PMS on the other hand was paid separately by the assessee to […]
DCIT Vs Saurabh Mittal (ITAT Jaipur) In absence of any contrary fact, the mere reliance by the Assessing Officer on the report of Investigation Wing, Kolkata is not sufficient to establish the fact that the transaction is bogus. The finding of the Assessing Officer is based merely on the suspicion and surmises without any tangible […]
Baniara Engineers Pvt. Ltd Vs. ITO (ITAT Kolkata) From the reading of Sec. 50C, it is evident that Sec. 50C is a deeming provision and it extends to only to land or building or both. Section 50C can come into play only in a situation where the consideration received or accruing as a result of […]
Rama devi memoria society Vs Jcit (ITAT Delhi) Ld. CIT(A) while denying the exemption of Section 11 to assessee society has held that, since imparting of education is a matter of pure charity, therefore, the educational institution is not permitted to receive or recover the cost of charity from its beneficiary by way of fees, […]
ACIT Vs M/s Linde Engineering India Pvt. Ltd. (ITAT Delhi) Assessee incurred license expenses towards WAN and local hardware, annual fee which has been treated by Assessing Officer to be capital expenditure. It is observed that assessee has to incur these expenses annually on which tax has been deducted. Assessee claimed license expenses of 49,62,461/- […]
Mr. T. Sudhakar, Vs Mr. Jasmeet Singh, (Delhi High Courts) Section 19(1) makes a provision for filing of an appeal if a person is aggrieved by a decision or inaction of the CPIO. The Appellate Authority in sub-section (1) of Section 19 is classified as an officer senior in rank to the CPIO meaning thereby […]
Union Of India & Anr Vs Amazon Seller Services Pvt. Ltd. (Delhi High Court) 27. In the present case, the exemption notification was to allow import of ―electrical machines with translation or dictionary functions” at nil rate of duty. In whatever manner we interpret the said words the interpretation should not be irrational and arbitrary. […]
Smt. Anita Singh Vs ACIT (ITAT Indore) in the year 2006 itself the assessee along with other persons initiated the process of developing a colony which is proved by the Registration No.40/2006 issued on 21.8.2006. Few months before and the period thereafter all these 18 persons kept on purchasing the land from various land owners and parallely […]
Expenditure for expansion of existing business in terms of new beds and services and aid in raising equity funds approximately 100 crores from interested investors to finance its expansion plan is certainly a revenue expenditure and be allowed as deduction under section 37 of the Act.
