Income Tax Judgements

Adverting first to ground no.1 in the appeal, facts, in brief, as per relevant orders are that return declaring income of ``5,06,170/- filed on 31.07.2008 by the assessee, was selected for scrutiny with the service of a notice u/s 143(2) of the Incom

We have perused the records and considered the matter carefully. It is clear from the records that the assessee had filed written submissions on 20.9.2010 but the same was put up before the Bench only on 24.9.2010 when the order had already been pass

The brief facts of the case are that assessee is a trust. It has filed its return of income for assessment year 2008-09 on 30th September, 2008 declaring nil income. According to the Assessing Officer, the assessee trust was created by the settler Sh

Briefly stated assessee is in the business of manufacturing of Tocopherol Vitamin-E and mixed Tocopherol. AO completed the assessment under section 143(3) disallowing the expenditure claim at `.62,62,182/- and depreciation of `.16,11,204/- on the rea

The assessee is an individual who is the Managing Director of Cadence Design Systems India Pvt.Ltd. For the AY 2004-05, he filed a return of income at `1,75,05,081/- comprising of salary income at `1,02,72,400/- from Cadence Design Systems India Pvt.

Section 41(1) has been incorporated in the Act to cover a particular facts situation. Section applies where a trading liability was allowed as a deduction in earlier years in computing the business income of the assessee and the assessee has obtained

Briefly stated, assessee filed return of income declaring total income at `1,57,02,407/- mainly consisting of capital gains. Assessee surrendered its tenancy rights and received an amount of `4,12,00,000/-. Out of this amount assessee has invested an

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 reference

On the facts and in the circumstances of the case and in law the ld. CIT(A) failed to appreciate that expenses of Rs.4,13,52,970/- was not incurred by the assessee wholly and exclusively for the purpose of its own business. On the facts and in t

Facts, in brief, as per relevant orders are that return declaring nil income after adjusting brought forward loss of ``10,74,016/-. under the normal provisions and book profits of `8,67,496/- in terms of the provisions of section 115JB of the Income-