If the party, at whose instance the reference is made, fails to appear at the hearing, or fails in taking steps for preparation of the paper books so as to enable hearing of the reference, the court is not bound to answer the referenc
Brief facts of the case are that the assessee-company in the relevant assessment year carried on the business of trading in shares and securities and investment in shares and securities. The Assessing Officer noticed that the assessee had shown long-
This appeal filed on 12.5.2011 by the Revenue against an order dated 27.1.2011 of the ld. CIT (Appeals)-I, New Delhi, raises grounds relating to addition of i)` 4,66,935/- on account of unexplained bank credit.;ii) ` 4,55,000/- on account of unexplai
(i) That the sustaining of disallowance of interest Rs. 1,61,226/- by Ld. Commissioner of Income Tax (Appeals) on the ground that assessee has made interest free advance of borrowed funds in arbitrary, unjust, unwarranted and at any rate very excessi
“(i) On the facts and in the circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) has erred in law in deleting the addition of Rs. 13,80,000/- made by the Assessing Officer on account of unsecured loans by accepting unsecured loan
Above issue arises as Assessing Officer considered the sale of shares by the assessee to the firm in which he is a Partner as a non genuine transaction. Consequently he re-worked out the P&L account as stated in page 8 of the assessment order and det
Ld. CIT (Appeal) is not justified in law and facts and circumstances of the case in holding the order passed under section 143(3) as valid without proving the valid service of notice under section 143(2) with in the limitation period of 12 months as
The Commissioner issued notice under Section 263 of the Act on two grounds: firstly, the respondent had earned dividend income of Rs.28,20,145/- which was exempt from tax but no disallowance of expenditure under Section 14A of the Act was made. Secon
This appeal by the Revenue is directed against the order of the Ld. Commissioner of Income Tax (Appeals) dated 28.10.2009 pertaining to assessment year 2005-06. The grounds raised read as under:- “(i) In the facts and the circumstances of the
The assessee is converting scrap iron into MS steel. In the previous year relevant to the impugned assessment year, the assessee proceeded further to improve the value addition by converting MS steel again into TMT steel. In that process, the assesse
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