caclubindia.com: Judiciary

Computation of Deduction under section 10A and depreciation on computer accessories

560421 — Wed, 22 May 2013 13:41:40 GMT

The relevant facts of the case are that in the year under consideration the assessee who is wholly owned subsidiary of Honeywell International Inc. Returned ncome of Rs.15,63,19,080/- by way of filing return on 30th November, 2006. The assessee company is primarily engaged in the business of assembl

Decision on cash purchase directly from growers and applicability of rule 8D

560421 — Tue, 21 May 2013 13:48:22 GMT

The issue of cash purchases was also examined in the preceding years. While during the course of the assessment proceedings for the assessee had categorically submitted that the raw materials i.e carcass had been purchased through agents, as also the assessee took the plea that the purchases of raw

Services provided without human intervention cannot be treated as technical service

560421 — Mon, 20 May 2013 13:44:02 GMT

Non-deduction of tax source u/s 192 of the Act in respect of non-inclusion of performance incentive for the purposes of calculating exemption u/s 10(13A) of the Act; and (ii) Non deduction of TDS u/s 194J from the payment made for the use of telecommunication services i.e telephone charges, link cha

Revised tax effect for appeal applies to all pending appeals

560421 — Fri, 17 May 2013 12:46:49 GMT

We draw the attention of the ld. DR regarding the tax effect on the deletion of addition of Rs.9,05,643/- which is less than Rs. 3.00 lakh. This position is admitted by the ld. D.R. Therefore, as per the Instruction No. 3/2011 dated 09.02.2011 the revenue is not permitted to file appeal before the T

Registration of trust under section 12A IT Act 1961

560421 — Thu, 16 May 2013 12:41:19 GMT

At the time of hearing before us, it was stated by the learned counsel that the DIT(Exemptions), vide his order dated 29th September, 2010, refused to register the trust. However, subsequently, the same DIT(Exemptions), vide order dated 6th April, 2011, registered the trust with effect from AY 2011-

If the appeal has no effect on tax liability its liable to be dismissed

560421 — Tue, 14 May 2013 13:01:15 GMT

At the time of hearing before us, it was stated by the learned counsel that in both the years, despite huge additions, the assessed income is loss. That the set off of this loss has never been claimed in the subsequent years because in the subsequent year also, there was a loss and ultimately, the c

Realisation of shares cannot be treated as commission

560421 — Mon, 13 May 2013 12:33:45 GMT

On the facts and in the circumstances of the case, the ld.CIT(A) has erred in deleting the addition of Rs.15,00,000/- made by the Assessing Officer u/s 68 of I.T.Act, 1961 in respect of unexplained cash credits without appreciating the fact that the assessee has failed to discharge its onus as requi

Long term capital gain under section 50C of the Income Tax Act

560421 — Sat, 11 May 2013 11:11:24 GMT

That on the facts and in the circumstances of the case, the Assessing Officer had erred in invoking provision of section 50C of the I.T. Act thereby computing the long term capital gain at Rs. 74,15,381/-. The Ld. Commissioner of Income Tax (A) is also not justified in confirming the addition made b

Absence without application for adjournment can treat the appeal dismisses

560421 — Fri, 10 May 2013 13:15:37 GMT

However at the time of hearing, no one was present on behalf of the assessee. The appeal was passed over twice. Despite the same, neither the assessee was present nor any request for adjournment has been placed before the Bench. The record shows that on an earlier date i.e 06.07.2012, the appeal was

Intimation u/s 143(1) cannot be disturbed subject to the reason recorded by AO

560421 — Thu, 9 May 2013 13:49:27 GMT

Brief facts of the case are that assessee was running a proprietary business as whole seller at Nainital. It had filed its return of income declaring total income of Rs. 1,90,000/-. The Assessing Officer, vide order sheet entry dated 19th August, 2009, recorded the following reasons before issuing n