Income Tax Judgements

Appellant(s) are the distributors of imported prepackaged shrink wrapped standardized software from Microsoft and other Suppliers outside India. During the relevant assessment year(s) appellant(s) made payments to the said software Suppliers which ac

In this case, we are concerned with the Assessment Years 1999-2000, 2000-2001, 2001-2002 and 2002-2003. The assessee company filed its Return of income for the Assessment Year 1999-2000 disclosing a loss of Rs. 10,77,276/-. The return was processed u

Assessee was a MAT company at the relevant time. On 30.10.2001, it filed its return of income for assessment year 2001-02. The said return was accompanied by statutory audit report claiming deduction under Section 80HHC of the Income-tax Act, 1961 (f

This appeal, by special leave, at the instance of the Revenueis directed against the judgment and order dated 27th June, 2001 delivered by the High Court of Gujarat at Ahmedabad in Income Tax Reference No.44 of 1986. By the impugned judgment, the Hig

S. 195 (1) TDS obligation does not arise if the payment is not chargeable to tax. Samsung Electronics not followed

Income Tax Act, 1961 — Section 36(1)(vii) — deduction under — the Assessing Officer disallowed a sum of Rs.7,10,47,161/- which the assessee-Bank had reduced from Loans and Advances or Debtors on the ground that the impugned bad debt had not been writ

income tax Act, 1961 — Section 271(1)(c) — penalty proceedings — assessee/Company filed income tax Return and in respect of interest expenditure was claimed by the assessee — penalty proceedings under Section 271(1)(c) were initiated by the Assessin

Business Loss - Deduction of NCD - deduction of the losses at Rs.111/- per NCD as a business loss - market value of the shares at the time of issue of NCD – held that – matter remanded to high court - We expect the High Court to answer the question i

Bye-laws have not been examined by the Assessing Officer or Bye-laws were not produced before the Assessing Officer - the assessee is not entitled to claim benefit of deduction under Section 80P(2)(a)(vi) of the Act- – matter remanded.

A short question which arises for determination in this civil appeal is – whether the Income Tax Appellate Tribunal was, on the facts and circumstances of this case, justified in upholding the order of the Commissioner of Income Tax (Appeals) directi