Income Tax Judgements

These are appeals by way of special leave under Article 136 of the Constitution against the judgment and orders of the Bombay High Court holding that the entire amount received by an assessee on sale of the Duty Entitlement Pass Book (for short ‘the

After considering the rival submissions we find that additions on which penalty has been levied u/s.271(1)© have been restored to the file of the AO by the Tribunal in I.T.A.No.6065/Mum/07 [copy of order filed on record]. Therefore, we are of the vie

Facts in brief are that the AO during the assessment proceedings noticed that the assessee had earned dividend income of Rs.14,16,221/- which was exempt from tax but the assessee had not disallowed any expenses relating to said income. He, therefore,

It needs to be noted here that a legal entity — a natural person or an artificial person — can sue or be sued in his/its own name in a court of law or a tribunal. It is not merely a procedural there are special provisions in the Constitution and the

The assessee is an oil exploration company and is engaged in extraction and sale of crude oil from PY-3 Block in the Cauveri Offshore area. The assessee claimed that it was an industrial undertaking eligible for 100% deduction of its profits derived

This intra-Court appeal impugns the judgment dated 18th January, 2011 allowing W.P.(C) No. 5093/1998 preferred by the respondents no.1 to 3 herein and quashing the “Regulations of Membership” of the appellant to the extent the same were held to be in

The facts of this case very briefly are that Bharat Rasayan Limited (for short ‘the assessee’) filed a return of income tax claiming a deduction of Rs.72,76,405/- under Section 80HHC of the Act. In the assessment order, the Assessing Officer held tha

On the observation of the detailed case we can find the following fact from the judgment..... i) On the facts and in the circumstances of the case and in law, the Ld.CIT(A) erred in deleting the additions made on account of provision gratuity u/s

On the facts and circumstances of the case and in law the CIT(A) has erred in not appreciating that clause(b) of the Explanation(1) of Sec. 11 5JB provides that for calculating book profit the profit as shown in the profit and loss account has to be

On the observation the following facts are found:- i) On the facts and in the circumstances of the case and in l aw the learned CIT(A) erred in sustaining the addition to total income of Rs.5,00,000/- received as gift on 23rd August, 2004 which