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The Assessing Officer has ignored the various documentary evidences which were in favour of the assessee.
INCOME TAX OFFICER 1 (3) VERSUS RENU AGARWAL AND INCOME TAX OFFICER 1 (3) VERSUS SHRI RAJ KUMAR AGARWAL
(2022) TaxCorp(LJ) 28245 (ITAT-LUCKNOW) · https://taxcorp.in/FileOpenDT.aspx?ID=95233&Category=ITAT&CategoryType=Zip
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When the assessee has deposited ₹ 15 lakhs of capital gain in purchasing the Bond of NHAI before due date of filing of return of income under section 139(4), his claim for exemption under section 54F was not to be disallowed.
SHRI SABBIRBHAI DAWOODBHAI SHAIKH VERSUS INCOME TAX OFFICER, WARD- 3 (1) (4) , SURAT
(2022) TaxCorp(LJ) 28244 (ITAT-SURAT) · https://taxcorp.in/FileOpenDT.aspx?ID=95240&Category=ITAT&CategoryType=Zip
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Expenditure incurred by the assessee for the purpose of earning the income, under the head income from other sources should be allowed as a deduction under section 57(iii).
MADANLAL MULCHA NDAS JARIWALA VERSUS THE ITO, WARD-2 (2) (3) , SURAT.
(2022) TaxCorp(LJ) 28243 (ITAT-SURAT) · https://taxcorp.in/FileOpenDT.aspx?ID=95242&Category=ITAT&CategoryType=Zip
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When an order is rectified by an order of rectification u/s.154 of the Act, the time limit is to be reckoned as per the provisions of Section 154(7) of the Act.
SHRI P.S. JAGDISH, C/O. SHRI T.N. SEETHARAMAN, ADVOCATE VERSUS THE DCIT, CORPORATE CIRCLE 2 (2), CHENNAI
(2022) TaxCorp(LJ) 28242 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=95243&Category=ITAT&CategoryType=Zip
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Tribunal was right in affirming the order passed by the CIT(A) and dismiss the appeal filed by the Revenue.
PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA-4 VERSUS M/S. STANDARD LEATHER PVT. LTD.
(2022) TaxCorp(LJ) 28241 (HC-CALCUTTA) · https://taxcorp.in/FileOpenDT.aspx?ID=86426&Category=Judgment&CategoryType=Zip
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Transfer of the business undertaking as a going concern constitutes transfer of capital asset.
PRINCIPAL COMMISSIONER OF INCOME TAX-3, KOLKATA VERSUS M/S. EIH LTD.
(2022) TaxCorp(LJ) 28240 (HC-CALCUTTA) · https://taxcorp.in/FileOpenDT.aspx?ID=86427&Category=Judgment&CategoryType=Zip
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Assessee-Company adopting the mercantile system of accounting for the expenses relating to NACIL without offering the corresponding income to tax, resulted in hybrid method of accounting which is not permissible.
Delhi International Airport Pvt. Ltd. Vs THE PRINCIPAL COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 28239 (HC-KARNATAKA) · Section 40(a)(ia)
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Investment in property registered in spouse's name is eligible for exemption u/s 54 and it cannot be construed as owned by the Assessee for determining eligibility for exemption u/s 54F.
Antony Parakal Kurian Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 28238 (HC-KARNATAKA) · Sections 54, 54F
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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
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To determine, the net income on the deposits from the bank, amount of expenses incurred in generating such interest income should be allowed as deduction from the gross income of interest in pursuance to the provisions of section 57(iii).
BARODA CITIZEN COMMUNITY CO-OP. CREDIT SOCIETY LTD. VERSUS I.T.O, WARD-1 (2) (2) , BARODA.
(2022) TaxCorp(LJ) 28236 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95203&Category=ITAT&CategoryType=Zip
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In view of the aforesaid facts and circumstances and the submissions made at the bar, we deem it just and appropriate to dispose of this petition directing the respondents to process the request letter dated 14.08.2013 and to refund the excess.
ABS INDIA PVT LTD., SHRI. SUNIL ARORA, MANAGING DIRECTOR VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX AND THE PRINCIPAL COMMISSIONER OF INCOME TAX -1
(2022) TaxCorp(LJ) 28235 (HC-KARNATAKA) · https://taxcorp.in/FileOpenDT.aspx?ID=86420&Category=Judgment&CategoryType=Zip
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Completing the assessment well before the prescribed time is not sustainable and it is in violation of principles of natural justice.
PRADIP KUMAR SAHA VERSUS UNION OF INDIA & ORS.
(2022) TaxCorp(LJ) 28234 (HC-CALCUTTA) · https://taxcorp.in/FileOpenDT.aspx?ID=86421&Category=Judgment&CategoryType=Zip
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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
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Both the lower authorities have entirely missed the case in point and have made the impugned disallowance which cannot be sustained. Therefore assessing officer is being directed to delete the impugned disallowance .
LATE SH. GHANSHAM DASS VERSUS THE DCIT, CENTRAL CIRCLE-1, CHANDIGARH
(2022) TaxCorp(LJ) 28232 (ITAT-CHANDIGARH) · https://taxcorp.in/FileOpenDT.aspx?ID=95170&Category=ITAT&CategoryType=Zip
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There is no error or infirmity in the reasoning given by the learned CIT(A) to delete additions made towards computation of short term capital gains on transfer of undertaking in terms of section 50B of the Income Tax Act, 1961.
THE DEPUTY COMMISSIONER OF INCOME TAX (OSD) , CORPORATE CIRCLE-2 (2) CHENNAI VERSUS M/S HUCLIN RESEARCH LTD.
(2022) TaxCorp(LJ) 28231 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=95175&Category=ITAT&CategoryType=Zip
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Nothing has been proved to come to a conclusion that the income falls within the ambit of Section 68. Therefore action of the ld. CIT(A) cannot be sustained.
INTELLECTUAL SECURITIES LTD. VERSUS DCIT, CENTRAL CIRCLE NOIDA
(2022) TaxCorp(LJ) 28230 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95176&Category=ITAT&CategoryType=Zip
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Discounted cash flow method is always based on future projections adopting certain parameters such as expected generation of cash flow, the discounted rate of return and cost of capital.
THE DY. COMMISSIONER OF INCOME TAX 6 (2) (1) , MUMBAI VERSUS CREDTALPHA ALTERNATIVE INVESTMENT ADVISORS PVT LTD
(2022) TaxCorp(LJ) 28229 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=95181&Category=ITAT&CategoryType=Zip
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The income has accrued in financial year 2013-14 relevant to assessment year 2014-15 and the assessee has correctly accounted this income in this very assessment year.
THE ACIT, CORPORATE CIRCLE-6 (2) , CHENNAI VERSUS M/S. SIM INFO SYSTEM PVT. LTD.
(2022) TaxCorp(LJ) 28228 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=95185&Category=ITAT&CategoryType=Zip
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Non filing of return for proper period and not in appropriate status is not at all a procedural mistake, it is quite substantial mistake.
ACIT-21 (1) , MUMBAI VERSUS ACHAL HOUSING LLP
(2022) TaxCorp(LJ) 28227 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=95186&Category=ITAT&CategoryType=Zip
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The controversy surrounding the alleged technical glitches in the income tax portal stands resolved.
The Southern Gujarat Income Tax Bar Association Vs UNION OF INDIA & 1 other(s)
(2022) TaxCorp(LJ) 28226 (HC-GUJARAT)
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