ITAT Ahmedabad held In the case of Shri Isharbhai Chotabhai Patel Vs. CIT that ld. Commissioner not justified in interfering in the discretion exercised by the AO without any plausible reason. The estimated opinion formed by the AO can only be interfered
In the case of CIT vs Rathi Graphics Technologies Ltd. Delhi High Court inter-alia held that the conversion of a portion of interest into shares should be taken to be “actual payment” within the meaning of Section 43B of the IT Act.
In the case of CIT vs Divine Infracon Pvt. Ltd , Delhi High Court reiterated its own order in case of CIT vs. Edward Keventer (Successors) Pvt. Ltd that it would not be open to a respondent to travel outside the scope of the subject matter of the appeal under the guise of invoking Rule 27 of the Income Tax (Appellate Tribunal) Rules, 1963.
In the case of Shri Thomas George Muthoot vs The Commissioner of Income Tax High court has held that TDS if to be deducted by individual who required to get his accounts audited. A statutory provision
Columbia Sportswear Company vs. DIT (Karnataka High Court)- A liaison office of a foreign company which identifies a manufacturer in India, negotiates the price, helps in choosing raw material to be used, ensures compliance with quality,
In the case ITO Vs. M/s. Nupur Carpets Pvt. Ltd. the Hon’ble Kolkata ITAT held by converting the stock-n-trade into investment, it does not alter the character, nature and intention of that particular transaction especially in the context of capital gain versus business income.
In the case DCIT Vs. Maithan Smelters Ltd. the Hon’ble Kolkata ITAT held that the interest subsidy, transport subsidy and power subsidy received by the assessee are eligible for deduction u/s 80IB of the Act.
The Assessee had paid a sum of Rs.9,22,160/- on account of Sewing and Processing Charges without deducting TDS on the same. The AO invoked the provisions of Section 40(a)(ia) of the Act and disallowed the entire amount paid on account of Sewing and Processing Charges.
Completed assessments can be interfered with by the AO while making the assessment under Section 153 A only on the basis of some incriminating material unearthed during the course of search or requisition of documents or undisclosed income or property discovered in the course
In the case Manoj Garg Vs. ITO the Hon’ble Kolkata ITAT held that both Central Excise Refund and Sales Tax Remission are eligible deductions u/s 80IC and that the CIT was not justified in initiating proceedings u/s 263 of the Act
