Judgements by Ayush

Order passed under Sec 144 is void ab initio in the absence of service of notice as mention under sec 282 and penalty will not survive if the case restored in the AO file

Ayush 28 December 2011 at 12:27

ITA No. 3871/Mum/2008 filed by the assessee is directed against the order dated 8.2.2008 of the Commissioner of Income Tax (A)- XXII, Mumbai relating to Assessment Year 2004-05. ITA No. 87/Mum/2010 filed by the assessee is directed against the order

Posted in Income Tax | 3450 Views

If the tax effect is less than minimum than it can be avoidable

Ayush 28 December 2011 at 12:26

In appeal for the assessment year 2001-02, the Revenue assails deletion of additions of Rs.3,60,000/- and Rs.1,56,388/- made by the ld. CIT(A). During the course of hearing, it was admitted by the ld. DR that the tax effect in this case was less than

Posted in Income Tax | 828 Views

Interest bearing fund can be invested in share of another company and the expenditure on investment can not be disallowed under sec 14A

Ayush 28 December 2011 at 12:26

Facts of the case in brief are that the A.O. during the course of assessment proceedings noted that the assessee has earned exempt dividend income of Rs. 4,63,50,000/- on investments made. He noted that the assessee has borrowed interest bearing fun

Posted in Income Tax | 1381 Views