Wealth tax - Case Law - Commissioner of Wealth Tax Versus Jay Pee Ventures...
Inclusion of aircraft u/s Section 2(ea)(iv) - Computation of Net Wealth - Whether the aircraft owned by the Assessee and used for its business would be exempted from wealth tax - Held that - The use of...
View ArticleIncome Tax - Case Law - Asst. Commissioner of Income-tax Versus Small is...
Exemption u/s 10(23FB) - Conditions laid by SEBI not fulfilled - CIT granted exemption - Held that - assessee has filed consent application and the alleged violation of provisions of regulations has...
View ArticleIncome Tax - Case Law - The DCIT, Cir-(1) Baroda Versus Gujrat State...
Capital expenditure or Revenue expenditure - Expenditure on acquiring fire fighting equipments and on safety measures - CIT allowed expenditure as Revenue expenditure - Held that - even if the expenses...
View ArticleIncome Tax - Case Law - Pravin Shah Trust Versus DCIT-14(1), Mumbai 2013 (8)...
Penalty u/s 271(1)(a) of the Income Tax Act Claim of loss on account of transfer of units of US-64 and and also carry forward and set-off of loss in subsequent years - Disallowance of the loss on the...
View ArticleIncome Tax - Case Law - Hughes Systique India Pvt. Ltd. Versus ACIT, Circle...
Difference in the arm s length price of the international transaction - TPO evaluated the international transactions applying TNMM at entity level by comparing the net operating profit margin of the...
View ArticleIncome Tax - Case Law - Dharamshi B Shah Versus DCIT, Anand Circle, Anand...
Penalty u/s 271(1)(c) - Addition in long term capital gain - Held that - When for the addition made by the A.O. which is confirmed by the Tribunal, a substantial question of law is admitted that the...
View ArticleIncome Tax - Case Law - Vimal Oil Foods Ltd Versus JCIT Range-8 Ahmedabad...
Deduction u/s 37 - Stamping fee and ROC fee for increase in authorized share capital - CIT disallowed deduction - Held that - , these two expenses are incurred for authorized share capital, and hence...
View ArticleIncome Tax - Case Law - DCIT, CC-3, Surat Versus Shri Ajit Pulp Paper Ltd....
Search and seizure - Shortage of stock found during search and seizure - CIT deleted addition made by A.O. - Whether order made by CIT is without any basis - Held that - CIT is giving the basis of his...
View ArticleIncome Tax - Case Law - M/s. Citi Corp Finance (India) Ltd. Versus The...
Accrual of interest - Mercantile system of accounting - Accounting Standard notified u/s145A. - CIT held that since the appellant has been following mercantile system of account the accrued interest...
View ArticleIncome Tax - Case Law - Shree Narayan Built Up (I) P. Ltd. Versus...
Power of CIT to invoke section 263 for revision of assessment Held that - Whether under the facts and circumstances of the case, the assessee was eligible for deduction under Section 80IA or not is a...
View ArticleIncome Tax - Case Law - Income Tax Officer, Ward-13(4), New Delhi Versus M/s...
Limitation u/s 149 of the Income tax act for issue of notice u/s section 148 Date of issue of the notice is relevant Held that - Relying upon the judgment in the case of Kanubhai M.Patel (HUF) Vs....
View ArticleIncome Tax - Case Law - Commissioner of Income Tax (Central) and Others...
Deduction u/s 57(iii) or section 36(1)(iii) of the Income Tax Act Colourable transaction for tax avoidance - Assessee is a partner of M/s. Sahara India (Firm) and Director in various companies of M/s....
View ArticleIncome Tax - Case Law - ACIT-1, KANPUR VERSUS M/s INDUS TECHNICAL EDUCATION...
Disallowance of interest paid on unsecured loans to the persons specified under section 13(3)/40A(2)(b) of the Income-tax Act, 1961 - Substantial loan was borrowed by the assessee from the parties...
View ArticleIncome Tax - Case Law - J M FINANCIAL SERVICES PVT LTD VERSUS ADDL...
Disallowance u/s 14A - Disallowance made as per Rule 8 - Held that - calculation of disallowance was based on Rule 8D only and the same cannot be sustained in the assessment year 2007-08 - Neither the...
View ArticleIncome Tax - Case Law - ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1,...
Unexplained investment - Capital investment - CIT deleted addition - Held that - evidences which were made available and explanations offered with supporting material before the CIT(A) were not...
View ArticleIncome Tax - Case Law - BHAVIN ARUN SHAH, AHMEDABAD VERSUS INCOME TAX OFFICER...
Deduction u/s. 80IB - CIT declined deduction - Held that - assessee is engaged in the business of development of customized software on job work basis - software produced by the assessee is not a map...
View ArticleApplicability of Sales Tax for the supplies done to Foreign going vessel
Applicability of Sales Tax for the supplies done to Foreign going vessel - VAT / CST / GST
View ArticleCoversion Charges Paid to Municipal Corporation
Coversion Charges Paid to Municipal Corporation - Income Tax
View Article