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By CS Bijoy On 22 May 2013 at 13:41
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 compa... Continue Reading
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By CS Bijoy On 21 May 2013 at 13:48
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... Continue Reading
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By CS Bijoy On 20 May 2013 at 13:44
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 telecomm... Continue Reading
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By CS Bijoy On 17 May 2013 at 12:46
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 re... Continue Reading
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By CS Bijoy On 16 May 2013 at 12:41
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, 20... Continue Reading
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By CS Bijoy On 14 May 2013 at 13:01
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... Continue Reading
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By CS Bijoy On 13 May 2013 at 12:33
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 ... Continue Reading
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By CS Bijoy On 11 May 2013 at 11:11
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 al... Continue Reading
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By CS Bijoy On 10 May 2013 at 13:15
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... Continue Reading
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By CS Bijoy On 09 May 2013 at 13:49
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, 200... Continue Reading
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