Income Tax :
Mobilization advance offered for Tax by acceptable method is enough
Assessee company in this case is engaged in the business of manufacturing, designing and fabrication
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Income Tax :
GP rate and NP rate are not related to rate of discount and it is enough to written off the debts as irrecoverable
Whether in the facts and circumstances of the case, the Commissioner of Income tax (Appeals) has err
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Income Tax :
After 1st April not necessary to established the debt is irrecoverable and enough to written off
facts, in brief, as per relevant orders are that return declaring nil income, after set off of busin
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Income Tax :
Salary paid to expatriate fro Head Offie to Branch was an expenditure to be fully allowed without restriction of section 44C of the Act
It is, thus, evident that DTAA recognizes the fact that the amendments made in the IT Act are not af
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Income Tax :
As per section 36(1)(vii) of the IT bad debts written off was liable to be allowed
The fact of the case is the whether the assessee eligible to allowed deduction for bad debt written
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Income Tax :
Company registered with the object of advancing loan on interest can set off its loss with its earning of interest from bank deposite
Facts, in brief, as per relevant orders are that return declaring nil income filed by the assessee,
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Income Tax :
Provisions of Rule 8D are not ultra virus the provision of sec 14A and do not offend Article 14 of the Constitution
The assessee is a company engaged in the business of syndication of loans, placement of bond and oth
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Income Tax :
If the Assessee file return within the time prescribed under sec 139(1) than setting off loss in the revised return under sec 139(5) cannot be allowed
We have heard the ld AR of the assessee as well as the ld DR and considered the relevant material on
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Corporate Law :
Failure to comply with statutory rule can raise liability till the requirement fulfilled and it cannot consider as continuing offence committed on a daily basis
The brief facts are that the Respondent/ Complainant i.e. Registrar of Companies (ROC) received a co
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Income Tax :
As per sec 28(2) bad debt written off as irrecoverable is allowed but in case of Bank deduction is allowed only to the extent exceeds the credit balance
The appeal by the Revenue was filed on 17.12.2008 and the appeal by the assessee was filed on 27.11.
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Income Tax :
As per sec 36(2) beddebt written off as irrecoverable is allowed if such debt taken into account in computing the income of the year in which debt is written off
On the facts and in the circumstances of the case, the CIT(A) erred in deleting the addition on acc
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Income Tax :
As per sec 178 of IT Act official liquidator is the concerned person in liquidation and sec 2(7) definie assessee is the person who deemed to be under any provision and can appe
At the time of hearing of the appeal on 30.01.2012, the Counsel for Shri P.K. Sharma, managing direc
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Income Tax :
Provision of Sec 80LA prevail over the non obstante sec 70(1) and income/loss from windmill business has to be separately computed and allowed to be set off against future incom
Brief stated facts of the case are as follows: The assessee is a partnership firm dealing in automob
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Income Tax :
Written off of sundry parties may not cause initiation of penalty under sec 271(1)(c) of IT Act
Facts in brief as emerged from the corresponding assessment order passed u/s.143(3) of the I.T. Act,
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Corporate Law :
Official Liquidator shall ensure that irreversible can not be created regarding the amount paid by the purchaser
Heard Mr. Manish Bhatt, learned senior counsel, appearing with Mrs. Mauna Bhatt, learned advocate fo
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Custom :
Penalty on customs officers
Penalty on customs officers - . The order passed by , Commissioner of Customs (Adjudication), to the
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Income Tax :
Set off of losses under STCG
Set - off of short-term capital loss which has been subject to STT against short-term capital gains
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Income Tax :
Allowability of head office expenses u/s 80-IA
Section 40C of the Act applies only in respect of Head Office expenses of a non-resident and has no
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Income Tax :
Set off of disputed loss
Where the assessee-company in spite of the fire which destroyed stock/goods belonging to it on 26-3-
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Income Tax :
Income Tax - set off of the loss
Income Tax - set off of the loss suffered in any of the previous year in the block period against th
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