Income Tax Judgements

The facts of the case as per SOF filed by the assessee, are that the Appellant Association is a mutual organization registered under the Maharashtra Co-op. Housing Society Act, 1960, affiliated to the Mumbai District Co-op. Housing Federation Ltd., f

That the Assessing Officer (‘AO”) erred on facts and circumstances of the case and in law in assessing the income of the Appellant under the normal provisions of the Income Tax Act, 1961 (the Act) at Rs. 17,52,18,050 against returned income of Rs 3,8

These appeals were originally posted for hearing on 09.11.2011 (vide AD card) and at the request of the assessee it was adjourned from time to time and finally posted for hearing on 04.04.2012 on which date none appeared on behalf of the assessee. Th

We have perused the records and considered the rival contentions carefully. The dispute is regarding maintainability of appeals only on ground of low tax effects CBDT had been issuing circulars from time to time directing revenue authorities not to f

The facts are that against the assessment order, the assessee filed an appeal before the CIT(A), wherein CIT(A) in order bearing no. CIT(A)/41/DCCC-38/IT 257/09-10 dated 14/12/2009 gave directions to the AO, saying, “ ......In view of the fact, the

confirming the disallowance of interest of Rs. 32,30,685/-. The basis for the same, the reasons and also the working of the disallowance are in correct and improper.” By order dated 16.4.2009 the aforesaid ground of appeal was dismissed by the T

These two companies entered into a joint venture agreement on 14th July, 2003 for setting up a project in the State of Mizoram. After sometime, the company pulled out of it. They entered into a different relationship. The petitioning creditor agreed,

From a rending of sub-section (1) of section 263, it is clear that the power of suo motu revision can be exercised by the Commissioner only if, on examination of the records of any proceedings under this Act, he considers that any order passed therei

In this appeal the assessee has raised various grounds, but only dispute is regarding the confirmation of levy of penalty u/s.271(1)(c) of the I.T. Act. The assessee has filed an appeal in the name of ‘Dimples Cine Advertising Pvt. Ltd.’, whereas the

Briefly stated facts of the case are that the assessee paid a sum of Rs.9,54,684/- to a foreign bank without deduction of tax at source. In the audit report, it was mentioned that it was a usance interest paid under the letter of credit and hence not