Briefly the facts of the case are, assessee who derives income from house property and income from other sources, filed her return of income for the AY 2010-11 on 27/07/2010 declaring an income of Rs. 17,75,810/-. Subsequently, the case was selected for scrutiny under CASS and accordingly notice u/s 143(2) dated 25/08/2011 was issued and served on the assessee on 06/09/2011. In response to the said notice, the assessee furnished the information called for.
Guwahati Tea Warehousing Association has filed a Petition in Gauhati High Court against imposition of Goods and Services Tax (GST) on loading, packing, warehousing, etc of processed tea. Case was admitted for hearing on 23.05.2018.
hese are the three appeals filed by the revenue for Assessment Year 2007-08 to 2009-10. The assessee has filed cross objections in all these appeals making it a bunch of six appeals. All these six appeals involved common grounds pertaining to the respondent and therefore, they are disposed of by this common order.
Shaan Construction P Ltd Vs ITO (ITAT Delhi) ITAT noted that whole exercise carried out by the assessee is simply a devise to introduce unaccounted money through various shell companies in the form of share capital at a premium. The manner of issue of the shares through these companies, the manner of providing confirmation on […]
Sunrise Academy of Medical Specialities (India) Private Limited Vs ITO (Kerala High Court) The learned counsel for the petitioner submitted that the case of the petitioner was one taken for a limited scrutiny on the issue as to whether the funds received in the form of share premium by the petitioner are from disclosed sources […]
This appeal by assessee under section 253 of Income-tax Act is directed against the order of Commissioner (Appeals)-35 Mumbai dated 4th September 2012, which in turn arises from assessment order passed under section 143(3) on 26 December 2008 for assessment year 2006-07. The assessee has raised following grounds of appeal
We find that the additions made by the assessing officer are beyond the scope of section 153A of the Income Tax Act, 1961, because no incriminating material or evidence had been found during the course of search so as to doubt the transactions.
It is settled law that when parties entered into family arrangement, validity of the family arrangement is not to be judged with reference to whether the parties should raised dispute or rights or claimed rights or a certain properties had in law any such right or not.
Show cause notice issued in the present case u/s 274 of the Act does not specify the charge against the assessee as to whether it is for concealing particulars of income or furnishing inaccurate particulars of income. The show cause notice u/s 274 of the Act does not strike out the inappropriate words. In these circumstances, we are of the view that imposition of penalty cannot be sustained.
Deduction u/s 10A is to be allowed from total income as computed under chapter IV of the Income Tax Act, 1961 and not at the stage of computation of total income under chapter VI of the Income Tax Act, 1961. Therefore from this it is clear that while claiming deduction u/s 10A unabsorbed depreciation is not to be adjusted.
