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Others Judgements

HSBC Electronic Data ProcessingIndia Private Limited (hereafter referred to as ' HDPI ') is awholly owned subsidiary of HSBC Holdings Plc (together with its associates referred to as 'HSBC Group'). During the course of assessment, the TPO after obtai

Posted in Others |   2456 Views

In this case the Full bench of Supreme Court has struck down the National Tax Tribunals Act, 2005 as unconstitutional. Though tribunalization has been allowed at the original stage subject to certain safeguards, the boundaries have been crossed by th

Posted in Others  3 comments |   2451 Views

The case was selected for scrutiny as per computer selection. Appellant contended that there was no application of mind by the Assessing Officer as required u/s 143(2)(i) and that issuance of notice u/s 143(2) is mandatoryand omission on the part of

Posted in Others  2 comments |   4188 Views

This appeal by the Revenue raised the following substantial questions of law:- “1. Whether the ITAT is justified in law in deleting the addition of Rs.59,63,410/- being the amount of enhanced compensation received by the assessee during the year? 2.

Posted in Others  4 comments |   2662 Views

The respondent assessee had issued15% Unsecured Redeemable Non-convertible Debentures carrying interest @15% per annum. In order to repay the debentures, the respondent-assessee borrowed loan against Foreign Currency Non Resident Loan Account [FCNR(B

Posted in Others  1 comments |   2564 Views

The assesse, a film production unit, claimed deduction u/s 80IB of the Income Tax Act 1961. The AO denied the claim for deduction contending that there is no machinery or plant of the appellant and the business affairs are carried out with hired equi

Posted in Others  6 comments |   2330 Views

The Assessee, an Indian Company, was a subsidiary of May and Baker Ltd., a U.K. Company which had an industrial undertaking in India. Under a Scheme of Amalgamation, the said industrial undertaking of the U..K. Company was hived off to the Assessee C

Posted in Others |   2400 Views

The assessee is a trust registered u/s 12A of the IT Act, 1961, engaged in providing medical facility/aid. CIT noted that the assessee trust was carrying on Medical Profession, in the form of a Multi-speciality Hospital, on commercial basis wherein f

Posted in Others  2 comments |   2401 Views

The respondent AO re-opened the assessment by notice u/s 147 after sending a notice of scrutiny and questionnaire. The petitioner responded to notice requesting reasons for reopening the assessment be furnished. The Revenue acceded to the petitioner’

Posted in Others |   2531 Views

The assessee had made a fixed deposit of Rs 1,00,00,000 with ICICI Bank and earned interest of Rs 11,77,574 on these deposits. The assessee claimed a deduction of Rs4,36,705 on account of interest paid on loan of Rs 75,00,000 taken, on the securityof

Posted in Others |   2422 Views

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