Income Tax - Deduction u/s 37 - Stamping fee and ROC fee for increase in...
Income Tax - Deduction u/s 37 - Stamping fee and ROC fee for increase in authorized share capital - these expenses cannot be said to be expenses in connection with right issue and public issue, and...
View ArticleIncome Tax - Limitation u/s 149 of the Income tax act for issue of notice u/s...
Income Tax - Limitation u/s 149 of the Income tax act for issue of notice u/s section 148 Date of issue of the notice - date of issue would be the date on which the same were handed over for service to...
View ArticleIncome Tax - Deduction u/s. 80IB - business of development of customized...
Income Tax - Deduction u/s. 80IB - business of development of customized software on job work basis - he mere fact that one of the input is owned by the client itself, does not mean that the property...
View ArticleIncome Tax - Rate of depreciation of books purchased for college library -...
Income Tax - Rate of depreciation of books purchased for college library - Books were given to the students for which library charges were collected by the assessee-society. - as per para 9(ii) of the...
View ArticleIncome Tax - Deemed dividend u/s 2(22)(e) - The amount collected by the firm...
Income Tax - Deemed dividend u/s 2(22)(e) - The amount collected by the firm belongs to the company concerned. This amount is to be sent by the firm to the company promptly along with statement of...
View ArticleIncome Tax - Case Law - ACIT Circle 4 (1) Versus Johnson Matthey India Pvt....
Writing off of stock - CIT deleted addition - Held that - provision for slow moving/obsolete inventory, which is created each year in the profits loss account and balance sheet prepared in accordance...
View ArticleIncome Tax - Case Law - M/s. KMC Constructions Ltd. Versus Dy. Commissioner...
Eligibility for deduction under section 80IA of the Income Tax Act Held that - Assessee should not be denied deduction under S.80IA of the Act as the contracts involves, development, operating,...
View ArticleIncome Tax - Case Law - M/s. Sushee Infra Pvt. Ltd. (Formerly Sushee Hi Tech...
Contrary decision passed by A.O. against remand back order of Tribunal - Deduction u/s 80IA - Power of Tribunal to review its own decision - Held that - Once the Tribunal has set aside the orders...
View ArticleIncome Tax - Case Law - Sri Tulla Veerender, Sri Tulla Vijayender Versus The...
Adventure in the nature of trade - Treating income arising out of the sale of agricultural land as business income Sale of agricultural land, a long term capital gain, exempted under Income Tax Act -...
View ArticleIncome Tax - Case Law - M/s. Elma Electric Co. Pvt. Ltd. Versus The ITO, Ward...
Applicability of Section 50C - Transfer of capital assets - A.O. computed capital gain u/s 50C - CIT confirmed computation by A.O. - Held that - If the AO was to invoke the provisions of Sec. 50C, then...
View ArticleIncome Tax - Case Law - DEPUTY COMMISSIONER OF INCOME TAX VERSUS M/s RELIANCE...
Capital or Revenue expenditure - Expenditure on acquisition of software - CIT held it as Revenue expenditure - Held that - When the assessee acquires a computer software or for that matter the license...
View ArticleIncome Tax - Case Law - RELIANCE INFRASTRUCTURE LTD VERSUS DEPUTY...
Disallowance u/s 14A - Expenditure incurred for earning of exempt income - Held that - It is not in dispute that the assessee has earned huge dividend income which has been claimed as exempt and for...
View ArticleIncome Tax - Case Law - OFFSHORE INFRASTRUCTURE LTD VERSUS ADDL COMMISSIONER...
Whether the expenditure regarding club membership and entrance fee is revenue in nature or capital Deduction u/s 37 of the Income Tax Act - Club membership has been taken for the purpose of the...
View ArticleIncome Tax - Case Law - Genesis Indian Investment Co. Ltd. Versus...
Penalty u/s 271(1)(c) - Compensation from Castrol UK, for delay in payment of proceeds of shares - Held that - It is clear that the payment of interest was directed by the SEBI under regulations 22 and...
View ArticleIncome Tax - Case Law - MOSER BAER INDIA LTD VERSUS DEPUTY COMMISSIONER OF...
Deduction claimed u/s 10B - Reassessment - notice u/s 148 - reason to believe - change of opinion - Held that - when there was intensive examination in the first instance in respect of the issue, which...
View ArticleCentral Excise - Case Law - M/s JAYASWAL NECO INDUSTRIES LTD. Versus...
CENVAT credit on Capital Goods taken on lease from Corporate Ispat Alloys Ltd. (CIAL) - Rule 4(3) of the Cenvat Credit Rules, 2004 - Stay - Held that - Prima facie the availment of capital goods Cenvat...
View ArticleCentral Excise - Case Law - COMMISSIONER OF C. EX., MEERUT-II Versus NAINA...
Entitlement for MODVAT Credit - Appellant was manufacturer of Diodes and Transistors classifiable under sub-heading 8541.00 of Central Excise Tariff Act, 1985 The Department was of the view that 90,000...
View ArticleCentral Excise - Case Law - MILAP WIRE PRODUCTS Versus COMMISSIONER OF C....
SSI Exemption - Use of brand name of others -manufacture of threaded screw made of iron and steel, commonly known as wood screws falling under Heading 7318.10 of the Schedule to the Central Excise...
View ArticleCentral Excise - Case Law - Nectar Lifesciences Ltd. Versus CCE,...
Reversal of Cenvat Credit in case inputs are destroyed in an accident - Appellant is engaged in the manufacture of excisable goods falling under Chapter 29 and 30 of the first schedule to the Central...
View ArticleCentral Excise - Case Law - HINO MOTORS SALES INDIA PVT LTD VERSUS...
Activity Manufacture or Not - Assesse was importing Chassis from their Principals in Japan - The Assesse was taking the credit of CVD and SAD - A Show Cause Notice was issued to the assesse for denial...
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