-
An assessment is an integrated process not only involving computation of total income but also determination of the tax.
Caterpillar Global Mining Europe GMBH Vs Dy. Director of Income Tax, International Taxation-1
(2022) TaxCorp(LJ) 28744 (ITAT-HYDERABAD) · Section 144C
-
The amended provisions of Sec. 2(14)(iii)(a) is applicable prospectively w.e.f AY 2014-15 which is not the subject AY.
Mangavalli Grandhi Vs Income Tax Officer
(2022) TaxCorp(LJ) 28670 (ITAT-HYDERABAD) · Section 2(14)(iii)(b)
-
Non-obstante clause is generally incorporated in a statute to give overriding effect to a particular section of the statute as a whole.
THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 16 (1). VERSUS M/S. LABZONE ELECTRONICS CITY PRIVATE LIMITED (FORMERLY KNOWN AS M/S. ALEXANDRIA LABSPACE ELECTRONICS CITY PRIVATE LIMITED)
(2022) TaxCorp(LJ) 28500 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95881&Category=ITAT&CategoryType=Zip
-
Mere fact of the impugned addition having been made on protective basis would hardly provide any relief to the assessee in light of the overwhelming factual possession supporting the Revenue’s case.
Nancy Divakar Hospital & Research Centre Private Limited Vs Joint Commissioner of Income Tax (OSD)
(2022) TaxCorp(LJ) 28466 (ITAT-HYDERABAD)
-
A protective assessment is very much at par with the substantive one.
JOINT COMMISSIONER OF INCOME TAX (OSD) , CENTRAL CIRCLE-1 (2) HYDERABAD VERSUS M/S NANCY DIVAKAR HOSPITAL & RESEARCH CENTRE PRIVATE LIMITED
(2022) TaxCorp(LJ) 28440 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95736&Category=ITAT&CategoryType=Zip
-
The legislative amendment made in section 263 by way of insertion of Explanation 2 in Finance Act, 2015 w.e.f. 01.06.2015 that an assessment order passed without making enquiry or verification is deemed to be an erroneous one in so far as it is prejudicial to the interest of Revenue.
SMT. VYJAYANTHI MUDAPAKA VERSUS INCOME TAX OFFICER, WARD 11 (1) HYDERABAD
(2022) TaxCorp(LJ) 28390 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95601&Category=ITAT&CategoryType=Zip
-
Sec. 35D provides amortization of certain capital / preliminary expenditure incurred by the Assessee. Therefore, ROC expenditure u/s 35D is allowed.
Ocimum Bio Solutions India Ltd Vs Dy. Commissioner of Income-tax
(2022) TaxCorp(LJ) 28299 (ITAT-HYDERABAD) · Section 35D
-
The Assessee has already offered the rental income under the head house property. Therefore, assessee is allowed to claim all eligible deductions including interest on borrowed capital.
Hima Bindu Putta Vs ITO
(2022) TaxCorp(LJ) 28281 (ITAT-HYDERABAD) · Section 24
-
A loan accepted as correct in principle, could not be treated as amount received since there is a pre-condition of its return to be made to the creditor party.
Hajeebu Venkata Seeta Vs The Income Tax Officer
(2022) TaxCorp(LJ) 28270 (ITAT-HYDERABAD) · Section 56(2)(vi)
-
Once addition was made under one provision, it cannot be made under another provision.
Autozilla Solutions Pvt. Ltd Vs Income-tax Officer
(2022) TaxCorp(LJ) 28265 (ITAT-HYDERABAD) · Section 56(2)(viib)
-
For the purpose of calculation of capital gains u/s 48 the fair market value of the assessee on the date of such conversion or treatment shall be deemed to be the full value of the consideration received or accruing as a result of the transfer of the capital asset.
M/S. KYORI INFRASTRUCTURE PVT LTD. VERSUS DCIT, CIRCLE-2 (1) , HYDERABAD
(2022) TaxCorp(LJ) 28264 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95285&Category=ITAT&CategoryType=Zip
-
Operational loss computed by the assessee coming under the purview of principle of mutuality cannot enter the computation of total income as envisaged u/s.2(45) of the Act.
SECUNDERABAD CLUB, HYDERABAD VERSUS INCOME TAX OFFICER, WARD-10 (2) , HYDERABAD
(2022) TaxCorp(LJ) 28261 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95290&Category=ITAT&CategoryType=Zip
-
Assessee is not registered U/s. 12A of the Act. In such circumstances, the assessee would be disentitled to enjoy the benefit of section 11 of the Act.
CHURCH OF CHRIST, HYDERABAD. VERSUS INCOME TAX OFFICER (EXEMPTIONS) -4, HYDERABAD.
(2022) TaxCorp(LJ) 28237 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95196&Category=ITAT&CategoryType=Zip
-
From the factual matrix of the issue it is crystal clear that identity, creditworthiness and genuineness of the entities who had infused money into the assessee company are established.
Bramhani Industries Limited Vs DCIT
(2022) TaxCorp(LJ) 28233 (ITAT-HYDERABAD) · Section 68
-
As per the provisions of the Act, notional gain or profit cannot be taxed unless it has crystalized.
BRAMHANI INDUSTRIES LIMITED VERSUS DCIT, CIRCLE-1 (3) , HYDERABAD. AND (VICE-VERSA)
(2022) TaxCorp(LJ) 28181 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95045&Category=ITAT&CategoryType=Zip
-
We allow the grounds raised by the assessee with regard to inflated expenditure by way of sub-contract payments in all the appeals under consideration.
MADHUCON PROJECTS LTD., HYDERABAD. VERSUS DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE – 3, HYDERABAD.
(2022) TaxCorp(LJ) 28135 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=94928&Category=ITAT&CategoryType=Zip
-
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)
-
Since the society is not registered u/s 12A/12AA of the Act, in our considered view, the AO/CPC has right in making the addition treating the corpus fund receipts/donations as income.
BHAGAWAN SREE MAHAYOGI LAKSHMAMMA EDUCATIONAL SOCIETY, ADONI. VERSUS INCOME-TAX OFFICER, WARD – 2, KURNOOL
(2021) TaxCorp(LJ) 28073 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=94813&Category=ITAT&CategoryType=Zip
-
The provisions of section 68 of the Act are not applicable in respect of addition in the facts and circumstances of the instant case.
M/S. JAGATI PUBLICATIONS LIMITED VERSUS ACIT, CIRCLE 2 (1) HYDERABAD
(2021) TaxCorp(LJ) 28037 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=94740&Category=ITAT&CategoryType=Zip
-
ITAT - Admissions or confessions made during survey did not carry any evidentiary value and additions can be made based on evidence only.
Legend Developers & Constructions Vs Assistant Commissioner of Income Tax
(2021) TaxCorp(LJ) 27846 (ITAT-HYDERABAD)
Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.