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Whether the reopening of assessment is based on change in opinion when the AO has given a finding that the assessee had declared the amount on account of forfeiture of shares under the head ‘liability' in the balance sheet and the AO in the original assessment proceedings had not considered the same - ITAT - No
THE DY COMMISSIONER OF INCOME TAX Vs. HARYANA FINANCIAL CORPORATION
(2014) TaxCorp(LJ) 3592 (ITAT-CHANDIGARH) · Income Tax - Sections 36(1)(viii), 143(3), 144, 146, 147, 149(1), (b),154, 234D, 244A, 250(6), 263(1)
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Whether in case an assessee as a special purpose vehicle is constructing, operating and managing a venture and was also having its income, it was also liable to claim corresponding expenditure relating to the said income.
M/s DIGHI PORT LTD. Vs. INCOME TAX OFFICER
(2014) TaxCorp(LJ) 3591 (ITAT-MUMBAI) · Income Tax - Sections 43B, 69, 133A
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Whether the set off of unabsorbed depreciation carried forward from earlier years can be allowed from income from other sources, if the assessee had no income falling u/s 28 of the Act.
INCOME TAX OFFICER Vs. M/s RAJASTHAN MEDICAL RELIEF SOCIETY
(2014) TaxCorp(LJ) 3590 (ITAT-JODHPUR) · Income Tax - Sections 11(2), 10(23)(iiiac), 12AA, 28, 139(1), 143(3)
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Whether notice u/s 148 can be validly issued when capital gain was not duly disclosed by the assessee. Whether the assessment can be reopened following the decision in case of ACIT V Rajesh Jhaveri Stock Brokers P. Ltd.
VANDEEP SINGH SHERGIL Vs. ASSTT COMMISSIONER OF INCOME TAX
(2014) TaxCorp(LJ) 3589 (ITAT-CHANDIGARH) · Income Tax - Sections 2(47), 143(1), 147, 148
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Whether any additions made u/s 69 on the basis of dump papers found during search & seizure operation can be sustained without any logically corroborating
ACIT. Vs. SHARAD CHAUDHARY
(2014) TaxCorp(LJ) 3588 (ITAT-DELHI) · Income tax - Sections 69, 132, 143(3), 153A
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The AO observed that above discussion makes the things clear as per Act that assessee was not entitled for the excess depreciation and its claim of depreciation was restricted to depreciation on opening WDV for that year before the slump sale took place.
SAIPEM TRIUNE ENGINEERING PVT LTD. Vs DCIT
(2014) TaxCorp(LJ) 3587 (ITAT-DELHI) · Income tax - Sections 2(19AA), 2(42)(c), 32(1), 40A(2) & (3), 43(1), 170
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No s. 14A disallowance of interest paid on borrowings if assessee’s own funds and non-interest bearing funds exceeds investment in tax-free securities
CIT vs. HDFC Bank Ltd
(2014) TaxCorp(LJ) 3586 (HC-BOMBAY) · Section 14A
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Whether the market value of the property has to be taken into consideration for determining the value of property, which is allotted to the respective partners on dissolution.
M/s ARJUNDAS RAJKUMAR AND OTHERS Vs. COMMISSIONER OF INCOME TAX
(2014) TaxCorp(LJ) 3585 (HC-AP) · Income Tax – Sections 139B, 217
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Whether there is requirement of a notification in the official gazette as a condition precedent for availing exemption u/s 10(23G), in case, the bonds had been issued, in respect of which exemption is claimed by the asseesee.
THE COMMISSIONER OF INCOME TAX-2 Vs. M/s LORD KRISHNA BANK LTD., (NOW MERGED WITH HDFC BANK LTD.)
(2014) TaxCorp(LJ) 3584 (HC-BOMBAY) · Income Tax - Section 10(23G)
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Whether penalty for concealment u/s 271(1)(c) can be levied merely on the basis that assessee has raised a claim which was eventually disallowed by the assessing authority.
THE COMMISSIONER OF INCOME TAX-2 Vs. M/s LARSEN AND TOUBRO LTD.
(2014) TaxCorp(LJ) 3583 (HC-BOMBAY) · Income Tax - Sections 271(1)(c)
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Whether if the same is not a manufacturing activity, the deduction u/s 80IA can still be claimed.
COMMISSIONER OF INCOME TAX-16 Vs. JAYENDRA H SHAH
(2014) TaxCorp(LJ) 3582 (HC-BOMBAY) · Income Tax - Section 80IA
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Whether in case of succession of the firm, AO has to make two separate assessments for the two periods pre and post succession.
COMMISSIONER OF INCOME TAX Vs. JAYANT EXTRACTION INDUSTRIES
(2014) TaxCorp(LJ) 3581 (HC-GUJARAT) · Income Tax - Sections 43(1), 273(2)(a)
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Hindustan Housing and Land Development Trust cannot apply in view of the provisions of newly enacted Section 45(5) inserted with effect from 1st April, 1988. He accordingly computed the total taxable income as Rs.67,71,560/-.
CIT. Vs. SHARDA KOCHHAR
(2014) TaxCorp(LJ) 3580 (HC-DELHI) · Income tax - Sections 45(5), 148
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The difference in the credit entries was treated as unaccounted sales and an addition of Rs. 23,98,275 was made on this account. Some more additions were made on account unexplain credit and income from other source.
ITO. Vs. M/s BHARAT PLASTOCHEM PVT LTD.
(2014) TaxCorp(LJ) 3579 (ITAT-CHANDIGARH) · Income Tax - Sections 40A(3), 145(3)
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Month - Month does not mean 30 days – Computation of six months period, Negotiable Instruments Act, 1881, section 138.
Rameshchandra Ambalal Joshi vs. State of Gujarat & Anr.
(2014) TaxCorp(LJ) 3578 (SC)
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Whether an assessee who purchased land by raising funds in his name can be treated as benamidar of other without doubting the genuineness of loan and sanctity of the registered sale deed - Held Appeal of the revenue is dismissed.
INCOME TAX OFFICER Vs. SHRI RAMA GAMETI
(2014) TaxCorp(LJ) 3577 (ITAT-JODHPUR) · Income Tax - Sections 12A(a), 45, 48, 50C, 131, 143(3), 148, 260A
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Whether an assessee after furnishing the TDS certificates, credit for which is being claimed, discharges the primary onus on him toward claiming credit.
DEPUTY COMMISSIONER OF INCOME TAX Vs. SAHARA INDIA HOUSING CORPORATION LTD.
(2014) TaxCorp(LJ) 3576 (ITAT-DELHI)
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Whether in such a case, the authorized officer could not ask for extension of time for holding the documents beyond the prescribed period.
SHRI K NARENDRA REDDY Vs. DEPUTY COMMISSIONER OF INCOME TAX
(2014) TaxCorp(LJ) 3575 (ITAT-HYDERABAD) · Income Tax - Sections 133A, 143(3), 194A, 194C, 201(1) & (1A)
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Whether the addition of Rs.97 lakhs of share application money was justified when the assessee could not prove the genuineness of the deposit of share application money.
M/s MODERN TUBE INDUSTRIES LTD. Vs. INCOME TAX OFFICER
(2014) TaxCorp(LJ) 3574 (ITAT-AHMEDABAD) · Income Tax - Sections 115JB, 131, 154, 271(1)(c)
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Whether the CIT(A) is justified in deleting the addition (i) of Rs. 27,32,916/- made by the AO on account of investment in purchases from undisclosed sources and profit on sales made outside the books of accounts when the comparison of trading account with the Input Tax Account and Output Tax Account, fully tally with the trading account as per books of account?(ii) of Rs. 1,44,750/- made by AO in respect of bad debt when it was not disputed by the AO that the recovery of amount in dispute is still unrecovered.
INCOME TAX OFFICER Vs. M/s RAJIV EXPORTS
(2014) TaxCorp(LJ) 3573 (ITAT-AMRITSAR) · Income Tax - Sections 133A, 133(6), 292C
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