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Assessing Officer is directed to allow the claimed deduction under sec. 54F of the Act.
MR. YASH SUNEJA VERSUS THE ACIT, CIRCLE – 42 (1) , NEW DELHI.
(2022) TaxCorp(LJ) 28108 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=94879&Category=ITAT&CategoryType=Zip
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The issue of dividend striping u/s 94(7) was never considered by the AO in the course of assessment, thus, the CIT(A) was not vested with the jurisdiction to order the enhancement on the said matter.
Frick India Ltd Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 28107 (ITAT-DELHI) · Section 32(1)(ii)
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The difference between the declared value and the value determined by the DVO is only 5.77%. Thus, AO is directed to delete the addition qua property mentioned at Sl.No.1 and 2.
MANSUKHBHAI NANJIBHAI BHIMANI VERSUS THE INCOME TAX OFFICER, WARD-3 (1) (5) , SURAT.
(2021) TaxCorp(LJ) 28106 (ITAT-SURAT) · https://taxcorp.in/FileOpenDT.aspx?ID=94848&Category=ITAT&CategoryType=Zip
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Provisions of section 46(2) of the Act do not have application to the facts of the present case.
SMT. THANKAMMA SEBASTIAN VERSUS THE INCOME TAX OFFICER, WARD 1 (2) (4) BENGALURU
(2021) TaxCorp(LJ) 28105 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=94849&Category=ITAT&CategoryType=Zip
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When undisputedly levy has been made by the A.O in all appeals under consideration prior to 1st June, 2015 by invoking the provisions contained u/s 234E the same is not sustainable in the eyes of law.
LEKHRAJ CORP. PRIVATE LIMITED VERSUS ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL PROCESSING CELL-TDS, TDS CPC AAYAKAR BHAWAN, GHAZIABAD
(2021) TaxCorp(LJ) 28104 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=94850&Category=ITAT&CategoryType=Zip
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When it was the duty on the taxing authority to grant undisputed due TDS credit and consequential refund and non non-perfoming of its duties on technical ground certainly results injustice to the assessee.
SHRI AMIT MANTRI VERSUS D.C.I.T., CIRCLE-1, JAIPUR.
(2021) TaxCorp(LJ) 28103 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=94854&Category=ITAT&CategoryType=Zip
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Assessment proceedings, especially those under Section 143 (3) of the Act have to be accorded sanctity and any reopening of the same has to be on a strong and sound legal basis.
SRI LAXMI NARAYAN AGENCY VERSUS THE INCOME TAX OFFICER, ANGUL WARD, ANGUL AND OTHERS
(2022) TaxCorp(LJ) 28102 (HC-ORISSA) · https://taxcorp.in/FileOpenDT.aspx?ID=86280&Category=Judgment&CategoryType=Zip
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Where the same Statute, uses different terms and expressions, then it is clear that Legislature is referring to distinct and different things.
KERALA STATE BEVERAGES MANUFACTURING & MARKETING CORPORATION LTD. VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 1 (1)
(2022) TaxCorp(LJ) 28101 (SC) · https://taxcorp.in/FileOpenDT.aspx?ID=86281&Category=Judgment&CategoryType=Zip
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The services rendered by the non- resident assessee to MTR Foods are not taxable as per India Singapore DTAA.
Orkla Asia Pacific Pte Ltd Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 28100 (ITAT-BANGALORE)
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The receipt of share premium could not be treated as income under Section 56(1).
Jagati Publications Limited Vs ACIT
(2022) TaxCorp(LJ) 28099 (ITAT-HYDERABAD)
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Ignorance of law is no excuse and carrying out the transactions of the magnitude in itself leaves no room for the assessee to make an excuse for not getting books of account audited u/s 44AB.
SACHCHIDANAND TRIPATI BHOPAL VERSUS ITO 5 (2) BHOPAL
(2022) TaxCorp(LJ) 28098 (ITAT-INDORE) · https://taxcorp.in/FileOpenDT.aspx?ID=94836&Category=ITAT&CategoryType=Zip
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Interest expenses directly attributable to tax exempt income is also directly attributable to taxable income are required to be excluded from the computation of common interest expenses to be allocated under Rule 8D(2)(ii).
M/S. KARNATAKA STATE BEVERAGES CORPORATION LT. VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 4 (1) (1) , BANGALORE.
(2022) TaxCorp(LJ) 28097 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=94837&Category=ITAT&CategoryType=Zip
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In absence of any adverse material, the presumption of AO that no income is shown from the sale of Ghass is not justified. Hence, the ground of appeal raised by the assessee is allowed.
SMT. MANIBEN MOHANBHAI PRAJAPATI VERSUS THE INCOME TAX OFFICER, WARD-3 (2) (5) , SURAT.
(2022) TaxCorp(LJ) 28096 (ITAT-SURAT) · https://taxcorp.in/FileOpenDT.aspx?ID=94841&Category=ITAT&CategoryType=Zip
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AO cannot sit in the chair of businessmen so as to decide what activities are essential in the business should be activities are to be carried out by the businessmen.
SURAT ROUGH DIAMOND SOURCING (INDIA) LIMITED VERSUS THE INCOME TAX OFFICER, WARD-4 (3) , SURAT.
(2022) TaxCorp(LJ) 28095 (ITAT-SURAT) · https://taxcorp.in/FileOpenDT.aspx?ID=94842&Category=ITAT&CategoryType=Zip
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CIT could not legally assume jurisdiction u/s. 263 over an order passed by the AO pursuant to the direction of DRP.
Barclays Bank PLC Vs CIT(IT)
(2022) TaxCorp(LJ) 28094 (ITAT-MUMBAI) · Section 263
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Revenue's inaction is in contravention of various CBDT Circulars and the judicial precedents.
Nokia India Pvt Ltd Vs ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 16(1) & ORS
(2022) TaxCorp(LJ) 28093 (HC-DELHI)
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HC - Interest earned by a primary agricultural credit society on deposits made with State/District Co-operative Banks not eligible for deduction u/s 80P(2)(a)(i). Income by way of interest or dividends derived by the co- operative societies from its investments with any other Co-operative Society is eligible for deduction u/s 80(P)(2)(d)
Peroorkada Service Co-Operative Bank Ltd Vs THE PRINCIPAL COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 28092 (HC-KERALA) · Section 80P(2)(d)
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Merely because the assessee issued the CCD, which is hybrid instrument to arrange corporate funding thru group concerns, it does not mean that it has indulged in generation of unaccounted money.
ARM INFRA & UTILITIES PVT. LTD. VERSUS PR. COMMISSIONER OF INCOME TAX RANGE-6, MUMBAI
(2022) TaxCorp(LJ) 28091 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=94826&Category=ITAT&CategoryType=Zip
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Disallowance of certain expenses made on account of specific expenditure claimed in respect of eligible unit would only go to enhance the claim of deduction u/s.80IA of the Act.
WNS GLOBAL SERVICES PVT. LTD. VERSUS ASST. COMMISSIONER OF INCOME TAX- 10 (2) MUMBAI
(2022) TaxCorp(LJ) 28090 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=94830&Category=ITAT&CategoryType=Zip
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Petitioner is not entitled for any relief as such sought for in the present writ petition.
M/S. LION DATES IMPEX (P) LTD. VERSUS THE CHAIRMAN, INCOME TAX SETTLEMENT COMMISSION, PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL – II, CHENNAI
(2022) TaxCorp(LJ) 28089 (HC-MADRAS) · https://taxcorp.in/FileOpenDT.aspx?ID=86277&Category=Judgment&CategoryType=Zip
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