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Income Tax :
If any tax deducted in any year and paid after the expiry of period prescribe under section 200 is allowable
On the facts and in the circumstances of the case, the Commissioner of Income Tax (Appeals) has erre
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Income Tax :
Explanation 2 of section 115JB only define the meaning of tax and cannot extend the benefit of surcharge and cess paid last year
In allowing credit of MAT of the previous year u/s 115JAA at `.56,05,585/-. (Pl. see Sl. No.22 of In
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Income Tax :
Depreciation under section 32 when the cost had already been claimed in the preceding year by application of Income
Facts, in brief, as per the relevant orders are that return declaring income of `1,92,16,940/- filed
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Income Tax :
In case of developer firm it is not necessary that in every assessment year actual construction activity should be carried out
The Learned CIT (Appeals) failed to appreciate that the amount offered during Survey u/s 133A carrie
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Income Tax :
Deductions allowed in respect of only those expenses which are relevant to the accounting year for the purpose of computing profits
Briefly stated the facts of the case are that assessee is engaged in the business of manufacturing o
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Income Tax :
When the circumstances under consideration same as last year it is bound to follow the the order of tribunal of previous year
Assessee company is deriving income from doing hard chromium plating on textiles, embossing rollers,
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Income Tax :
Sec 41(1) applies where deduction is allowed in earlier years in computing business income and assessee obtained benefit on the remession of the same in the next year
Section 41(1) has been incorporated in the Act to cover a particular facts situation. Section applie
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Income Tax :
Provisions relating to TDS not applicable on expenses crystallized and paid after the end of the year which allowed as deduction in subsequent year
On the facts and in the circumstances of the case and in law the ld. CIT(A) failed to appreciate tha
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Income Tax :
Sec 234D is applicable only on regular assessment year and difference in depreciation due to exchange rate need to transfer to PL account as per AS-11.
That on facts and in law, the CIT(A) erred in upholding disallowance of additional depreciation to t
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Income Tax :
As per sec 254 time limit for rectification of mistake in order is four year counted from the date all proceding has been completed
The facts giving rise to the present writ petition and which are necessary for a decision in this wr
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Income Tax :
As per IT circular May 15’2008 if the same issue in respect of the same assessee for other assessment year department cannot file appeal if tax effect less than 4 lakh
Before us, both the learned Representatives agree that the tax effect in the Revenue’s appeal is les
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Income Tax :
If an issue decided consistently in a particular manner for earlier assessment years than rental income from factory building is to be treated as business income
We have heard the submissions of both the parties and perused the material available on record and t
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Income Tax :
Rule 8D is prospective and effective only from the assesseement year 2008-09
The only ground of appeal shows the grievance of the appellant against the order of the Ld. CIT(A)-3
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Income Tax :
Before the assessment year 2008-09 provision of sec 14A(1) should apply instead of Rule 8D
The facts, in brief, are that in the assessment order the AO had noted that assessee had shown divid
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Income Tax :
Sec 40(a)(ia) said deduction on payment of TDS is allowed in the year of payment
TDS deducted but not deposited within the time limit prescribed u/s. 201 of the Act. The same was de
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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 the Income Tax act expenditure during the year amounting to setting up cannot be treated as preoperative expense
In the return of income filed, the assessee computed the loss of ` 12,28,782/-. From the perusal of
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Income Tax :
Principal of res-judicata has no application in IT Act and finding of particular assessement year cannot be binding on subsequent year
Facts, in brief, as per relevant orders are that assessment in this case was completed u/s 143(3) of
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Income Tax :
Rule 8D is not applicable on the Assessment year before Rule 8D come in to force
After hearing the rival submissions and on careful perusal of materials available on record keeping
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Income Tax :
Once approval granted under sec 80G will be valid up to five years and application for extension is not necessary
In the grounds of appeal, the assessee has taken one legal plea that while rejecting the assessee’s
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