Income Tax Judgements

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

Period of limitation should be seen from the date revised order which also should be reised

That the capital gains arise from the sale of house property can be invested in two flats & can claim the exemption u/s 54.

Tax dept says Central excise refund should be taxed because it is a benefit derived from a government scheme and is distinct from profit derived from industrial activity

It is an admitted fact that the property of the assessee-trust was in a dilapidated condition and would not earn income to carry out the objects of the trust. For the purpose of carrying out the objects of the trust, it has become necessary to demoli