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AO has not disputed the fact that the assessee has received these amounts from these agriculturists and also repaid the same to them in cash. The assessee has filed the affidavits of these three persons wherein they have affirmed on oath that they are not having any PAN or any bank account in their names.
SHRI JOGENDRA SINGH VERSUS ADDL. CIT, RANGE- SIKAR, SIKAR.
(2019) TaxCorp(LJ) 20323 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=78742&Category=ITAT&CategoryType=Zip
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The assessee has been granted FL 9 license under the Abkari Act and the assessee is liable to pay surcharge to the State Government. This surcharge is exclusively levied only on State Government undertaking and the FL 9 license was not given to any undertaking other than the assessee for carrying on business. Being so, the payment was incurred for obtaining specific benefits from the State Government and it cannot be said that there is no element of quid pro quo in the payments.
KERALA STATE BEVERAGES (M&M) CORPORATION LTD. VERSUS THE ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-1 (1), TRIVANDRUM
(2019) TaxCorp(LJ) 20322 (ITAT-COCHIN) · https://taxcorp.in/FileOpenDT.aspx?ID=78746&Category=ITAT&CategoryType=Zip
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When the assessee has produced all the documentary evidences to establish the carrying out the development work and the claim of expenditure is not found to be excessive in consonance with the development work actually done at site, then the disallowance is uncalled for and the same is deleted.
KRITIKA TOWNSHIP (P) LTD. VERSUS THE INCOME TAX OFFICER, WARD 2 (4), JAIPUR.
(2019) TaxCorp(LJ) 20321 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=78752&Category=ITAT&CategoryType=Zip
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Irrespective of the nature of the activities of the BCCI (commercial or charitable), what is pertinent for the purpose of determining the nature of the activities of the assessees, is the object and the activities of the assessees and not that of the BCCI. The nature of the activities of the assessee cannot take its colour from the nature of the activities of the donor.
Gujarat Cricket Association Vs Director Of Income Tax (Exemption)
(2019) TaxCorp(LJ) 20320 (HC-GUJARAT) · Section 11
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The Applicant Company was duly served through their authorized representative, and were provided sufficient opportunities to appear before this Court, and contest the matter. The Applicant - Company chose to let the matter proceed exparte. The assessee failed to make out any credible or cogent ground for recall of the judgment.
NRA Iron & Steel Pvt. Ltd Vs Principal Commissioner of Income Tax (Central)
(2019) TaxCorp(LJ) 20319 (SC) · Section 68
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Million dollar circumstance considered by the AO and CIT(A) is that if the existing cash balance has been used for purchasing gold bars, obviously the available cash balance would have decreased, while it has not so decreased, and thus the only possible conclusion is that the gold were purchased from the amounts available with the assessee from undisclosed source, obviously beyond the amount shown in the cash book to be lying with the assesse.
MOTILAL KHATRI Vs COMMISSIONER OF INCOME TAX
(2019) TaxCorp(LJ) 20318 (SC) · Section 69
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As the assessee did not carry out any business activity in a systematic, recurring and organised manner, nor there was any volume, frequency, continuity and regularity of transactions, and only one person was employed by him for the management and look after of the leased property.
Meeraj Estate And Developers Vs Commmissioner Of Income Tax
(2019) TaxCorp(LJ) 20317 (HC-ALLAHABAD)
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In absence of finding that the transaction was sham, the TPO can not treat the transaction as a loan and charge interest thereon on notional basis.
Voltas Limited Vs DCIT
(2019) TaxCorp(LJ) 20316 (ITAT-MUMBAI)
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By investing huge sum the assessee has obtained a valuable business / commercial right to operate the project facility and collect toll charges. Right acquired by the assessee for operating the project facility and collecting toll charges is an intangible asset.
Essel Sagar Damoh Toll Roads Ltd Vs Asstt. Commissioner of Income-tax (Cir)
(2019) TaxCorp(LJ) 20315 (ITAT-MUMBAI)
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The copy editing, indexing and doing proof reading required only knowledge in the language and it does not require to have necessary expertise in the subject matter of text. Therefore, the CIT(Appeals) is not correct in saying that the services rendered by the non-residents are technical services.
Integra Software Services Pvt Ltd Vs The Deputy Commissioner of Income Tax
(2019) TaxCorp(LJ) 20314 (ITAT-CHENNAI) · Section 195
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Interest received is in the nature of Business Income and needs to be netted off against the interest paid to Bank. If the interest paid and earned are considered in totality, the assessee has paid net interest therefore states that AO was not justified in considering the interest income to be non tonnage activity and taxing the same at normal rate.
B.G. Shirke Construction Technology Pvt. Ltd., Vs The Dy.Commissioner of Income Tax
(2019) TaxCorp(LJ) 20313 (ITAT-PUNE) · Section 115VP
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In the instant case as recorded by the AO when a prospective buyer approaches the assessee for booking the flat, allotment letter is issued to the buyer on receipt of the advance money. The appellant filed a written submission dated 26.03.2015 before the AO stating that the degree of work completed and certified by architect till 31.03.2009 is 73% and the assessee-company has recognized the revenue by applying 73% to the value of agreements executed till 31.03.2009.
M/S SHANKALA REALTORS PVT. LTD. VERSUS INCOME TAX OFFICER-8 (2) (1), 7 (2) (3) , ADDL. CIT-7 (2), MUMBAI.
(2019) TaxCorp(LJ) 20312 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=78694&Category=ITAT&CategoryType=Zip
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From the bare reading of the above finding and the question of law and the ground urged before the ld. CIT(A), it is abundantly clear that the issue “whether TDS credit in the account of Madhukar Kapur, as mentioned in Form 26AS , can be credit to the account of the assessee” was not a subject matter of appeal before the ld. CIT(A). It is settled proposition of law that the finding recorded by the judicial and quasi judicial authorities are required to be read in the context of grounds urged before them and should not be read in isolation and out of the context.
MAHIM PATRAN PRIVATE LIMITED VERSUS THE PR. COMMISSIONER, OF INCOME-TAX – 2, AGRA.
(2019) TaxCorp(LJ) 20311 (ITAT-AGRA) · https://taxcorp.in/FileOpenDT.aspx?ID=78695&Category=ITAT&CategoryType=Zip
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AO cannot tinker or apply anything further than what was mentioned in the draft assessment order except what is directed by the learned dispute resolution panel. The provisions of principles of natural justice are ingrained in the provisions of section 144C of the act. It further says a time limit of 9 months from the end of the month when the draft order is forwarded to the assessee for passing of issue of any directions.
RELIGARE CAPITAL MARKETS LIMITED VERSUS DCIT, CIRCLE-15 (1), NEW DELHI
(2019) TaxCorp(LJ) 20310 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=78709&Category=ITAT&CategoryType=Zip
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In the case on hand, the raw material is first sent to the shearing department. The shearing machine is set for the desired size and the laminates are cut into the specified sizes as required by the customer. The laminates are, thereafter, checked for the oxidation effect. A thorough surface clearing is done to remove the oxidation. The Quality Control Department, thereafter, would verify the quality parameters like the thickness of the material, thickness of copper using Alco Meter etc.
THE PRINCIPAL COMMISSIONER OF INCOME TAX, VADODARA 1 VERSUS M/S FINE LINE CIRCUITS COMPANY
(2019) TaxCorp(LJ) 20309 (HC-GUJARAT) · https://taxcorp.in/FileOpenDT.aspx?ID=80251&Category=Judgment&CategoryType=Zip
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In the present case, the AO found sufficient materials and changes in the year under consideration, as he after examining the relevant clauses of agreements formed an opinion that the property was taken on lease for giving it on rent to GAIL. Further, Section 2(13) defines business, which includes any trade, commerce or manufacture or adventure or concerned in the nature of trade, commerce or manufacture.
M/S MEERAJ ESTATE AND DEVELOPERS VERSUS COMMMISSIONER OF INCOME TAX
(2019) TaxCorp(LJ) 20308 (HC-ALLAHABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=80252&Category=Judgment&CategoryType=Zip
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Even otherwise the amount which was used by the assessee for interest free advances then the corresponding interest expenditure would not be considered as the expenditure incurred wholly and exclusively for the business of the assesse.
M/s Shree Bhagwati Udhyog Vs ITO
(2019) TaxCorp(LJ) 20307 (ITAT-JAIPUR) · Section 36(1)(iii), 40(b)
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Without opting for continuous power supply, the assessee was found in usage of energy during restricted hours (above 15% of contracted load), prohibited by law, thereby, it was levied to pay penalty, which cannot be treated as just like payment of electricity charges, but, it is an offence committed by the assessee against which, the assessee was penalized.
M/S. PACKAGING INDIA PVT. LTD. VERSUS THE JOINT COMMISSIONER OF INCOME TAX, PONDICHERRY RANGE, PONDICHERRY.
(2019) TaxCorp(LJ) 20306 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=78660&Category=ITAT&CategoryType=Zip
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As decided in HTSL COMMUNITY SERVICE TRUST it is not a case that the assessee did not file a return of income at all. During the year preceding the relevant assessment year, the assessee-trust was formed. The relevant previous year was the first year of activities of the assessee and the assessee was not familiar with the relevant provisions of filing of return of income and the procedure involved thereof.
M/S. ROTARY CHARITABLE TRUST VERSUS JOINT COMMISSIONER OF INCOME-TAX, EXEMPTIONS RANGE, HUBBALLI.
(2019) TaxCorp(LJ) 20305 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=78661&Category=ITAT&CategoryType=Zip
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Once the assessee paid ₹ 2.00 lakh to another person out of her regular books of account, there cannot be any question of the assessee not substantiating the source of loan, which is overtly from the regular books of account maintained by her. This sort of enquiry, if warranted, ought to have been conducted in the hands of the recipient to justify the source of the loans received and not the payer of the loan, who has given loan out of her regular books of account.
MR. KAILASH KANHAIYALAL GIDWANI, MR. SUNIL KANHAIYALAL GIDWANI, MR. AMIT KANHAIYALAL GIDWANI VERSUS ACIT, CIRCLE-2 SANGLI
(2019) TaxCorp(LJ) 20304 (ITAT-PUNE) · https://taxcorp.in/FileOpenDT.aspx?ID=78667&Category=ITAT&CategoryType=Zip
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