Income Tax Judgements

The assessee had received interest free deposit in respect of shops given on rent. The Assessing Officer added to the assessee’s income notional interest on the interest free deposit at the rate of 18 per cent simple interest per annum .

Router and switches can be classified as a computer hardware when they are used along with a computer and when their functions are integrated with a ‘computer’

Where the Assessing Officer has not carried out necessary enquiry which ought to have been carried out for allowing deduction to the assessee under section 40(b), the order passed by the Assessing Officer was erroneous and prejudicial to the interest

where it is found that for earning exempted income no expenditure has been incurred, disallowance under section 14A cannot stand - Held, yes

Taxability of payment for reimbursement of expenses incurred outside India Fact of case : in this case, the assessee running merchant banking business had debited in its accounts reimbursements of expenses made to the parent company against the

Decision by the Hyderabad Bench of the Tribunal in Dy CIT V. Chaya Lakshmi Creations P ltd. removes the dust over the question- “ Whether renovation expenditure on building taken on lease would be capital or revenue in nature?”- That any expenditure

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