Community & General Judgements

The question of law urged by the assessee is whether the decision of the ITAT as to the disallowance under Section 14A of the Income Tax Act, is in error of law. Assessee mainly engaged in the business of coal preparation had reported a tax exempt in

The appellant company is engaged in the business of export of Marine products and also financial consultancy and trading in equity shares. Its total business does not consist purely of exports but includes business within the country. AO held that th

The substantial question of law raised was whether an assessee claiming exemption u/s 11 can claim that income exempt u/s 10(33) and 10(38) to be excluded while computing the application of income for charitable or religious purpose. Held that there

In the Assessment Year 1980-81, the assessee had issued 6,25,000 equity shares of Rs.10/- each. Accordingly, a sum of Rs.62.50 lakhs was adjusted by issue of shares and the balance application money was refunded to the subscribers. The increase in th

Assessee is an individual having salary income and income from other sources. Return of income for A.Y. 2002-03 was filed on 31.03.2003 u/s 139 and for A.Y.2004-05, return was filed on 31.03.2005 u/s 139. After the filing of the return of income, no

Assessee is an Investment Management Consultant. During Scrutinyassessment, the AO noticed that the assessee had claimed a loss of Rs.93,63,235/- on account of loss on foreign currency futures. The AO disallowed the loss considering the provisions of

The appellant is a NBFC engaged in the business of leasing of commercial vehicles, infrastructure construction machinery/equipment and financing of infrastructure projects equipment/machinery. The total income of the appellant-assessee was assessed u

The Assessee is engaged in manufacture of wooden doors, frames, furniture etc. The Assessee has paid usance charges of Rs.18,99,772/- on import purchase. The AO was of the view that the usance charges incurred by the assessee is the income arising to

The assessee, an individual, had received sums aggregating to Rs. 2,91,723 from Bharati Airtel Limited and Idea Cellular Limited, towards renting out its terrace for the use by these companies as places where as, mobile communication service provider

One common issue in all the assessment years is the challenge to the correctness of ALP adjustment made to the billing for contract manufacturing by the assessee, to its associated enterprises based abroad. The question is whether CPM, with entrepren