Community & General Judgements

During the previous year relevant to the Assessment Year 2005-06, the assessee company had sold a plot of land as per sale-deed dated 16.09.2004. The sale price on which capital gain hasbeen worked out was taken at Rs.2,57,76,000/- (Rs.2,62,08,000 le

Being aggrieved, the Department filed an appeal before the Hon’ble Apex Court. The Hon’ble Apex Court after observing that the Tribunal had passed the order on the basis of facts and circumstance of the case held that since the Tribunal is the

Assessee, a Co-operative Housing Society received a sum of Rs.39,68,000/- on account of transfer of flat and garage and credited it to 'general amenities fund' as well as 'repair fund'. This receipt of Rs.39,68,000/- has been claimed as exempted from

Controversy existed between Cooperative Housing Societies and Income Tax department regarding taxability of the amounts that societies receive from developer as compensation to repair buildings in form of corpus, rent and larger area. With the promul

The petitioner filed its return of Income declaring a total income of Rs.13.12 crores. The tax payable on the declared income was Rs.6.79 crores which was paid by way of advance tax and credit for TDS. However as there was still a shortage of tax pay

Questions of law raised were(1) Whether the Tribunal erred in law in deleting the addition made on account of disallowance u/s 14A read with Rule 8D, without appreciating the language and provision of these Sections, more so when the expenditure was

Assessee entered into MOU on 05-08-1994 with M/s Radiant Builder for development of property. Subsequently, the assessee entered into another MOU with M/s Murali realtors on 26.12.1995 & 17.5.1996 and a Deed of confirmation was also executed on 13.11

Assessee is a proprietor of M/s Gururaj Metals in the business of supply of Ferrous and non-ferrous metals to SSIs. AO disallowed certain purchases on the ground that suppliers are not traceable. The assessee furnished ledger copy of purchases, signe

Assesse, an individual senior citizen filed return of income wherein long term capital gains on sale of paintings, were offered to tax at the normal tax rate of20% to long term capital gains. The assessee filed revised return wherein the aforesaid lo

While completing the assessment u/s 143(3) r/w. Section 147 of the I.T. Act, additions were made on account of payment of employees contribution towards provident fund, ESI and pension fund in a sum of `32,03,947/-.While disallowing the claim for ded