ITAT Mumbai held In the case of M/s Vidyasagar Enterprises LLP vs. Principal CIT that AO accepted the loss sustained by the assessee in this project to be allowed to be set off against other income of the assessee after application of mind and considering relevant material on record which was one
ITAT Bangalore held In the case of M/s Tejas Networks Ltd. vs. DDIT that the right that is transferred in the present case is the transfer of copyright including the right to make copy of software for internal business
In the Case of ACIT VI, Kanpur vs. Z Square Shopping Mall Private Limited, ITAT held that the interest earned on FDR, Gains from investment of Mutual Fund is not inextricably linked or connected with the construction activities
The ITAT Mumbai in the case of M/s Parle Bottling Pvt. Ltd. held that the mismatch in description of jewellery as recorded vis a vis as found by valuer cannot be in its own a sole basis for treating mismatched jewellery as unexplained particularly when minor difference in carat weight.
The Hon’ble Bombay High Court in the case of Jaya Hind Sciaky Limited held that the words belonging to as used in sec 40(2) of the Act would include assets in possession of the Company without full Ownership
In the case of PVS Multiplex (India) Ltd. Vs. CIT Delhi Bench of ITAT held that CIT can pass order u/s 263 where he can hold that AO did not made adequate inquiry. ITAT observed that there is difference between lack of enquiry and Inadequate Inquiry.
In the case of ACIT Vs. M/s. Maharashtra State Electricity Distribution Co. Ltd. ITAT adjudicated two appeals against the order of CIT (A) who allowed the appeal of assessee in part. Both revenue as well as assessee filed appeal against the order of CIT (A).
In the case of M/s Tamil Nadu Cricket Association Vs. DDIT (Ex.) Madras Bench of ITAT have observed the activities carried out by assessee in nature of charitable or business. After detailed examination it was held that assessee did not engaged in any business or commercial activity and hence liable for the exemption u/s 11.
In the case of ACIT Vs. Shivaansh Advertising & Publications Pvt. Ltd. Delhi Bench of ITAT observed the requirements of section 153C provides for taking recourse to assessment in respect of any other person and held the conditions precedent are
In the case of M/s NYK Line (India) Ltd Vs. Addl. CIT Mumbai Bench of ITAT have held that payment made to professional firm for conducting a Feasibility Study Report for establishing a BPO business for assessee’s own function
