On the facts and circumstances of the case, the ld. CIT(A) has erred in law as well as in facts in deleting the addition of `30,41,520/- made by the AO on account of sale value of free copies distributed by the assessee. On the facts and circumst..
The relevant facts giving rise to this appeal are that the assessee is a company registered under the Companies Act, 1956. The shares of the assessee are wholly owned by the Government of Maharashtra. The assessee has been appointed as the New Town D..
The facts in brief are that the AO during the assessment proceedings noted from details of unsecured loans that the assessee had taken unsecured loan of Rs.14,60,052/- from Shri Balwantbhai Grewal during the year. The AO therefore, asked the assessee..
At the outset, the learned counsel for the assessee submitted that the assessee had filed an appeal before the ITAT being aggrieved by the order of learned CIT(A) who had treated the short term capital gains of `82,32,316/- as business income. The IT..
That having regard to the facts and circumstances of the case, Ld. Commissioner of Income Tax (Appeals) has erred in law and on facts in not quashing the impugned assessment order passed by Assessing Officer u/s. 147 that too without the serving the ..
Facts indicate that in this case, the assessee was a proprietor of a boutique, which she was running at Naraina Vihar, New Delhi. She had inherited jewellery from her late mother and father from the locker which was relinquished to her vide a Relinqu..
On the facts and in the circumstances of the case, the Ld. CIT(A) has erred on facts and in law in quashing the assessment despite the specific saver provided under the Act by way of section 292BB because section 292BB of the Income Tax Act, 1961 pro..
The revenue has raised the following grounds of appeal:- “1.That on the facts and in circumstances of the case the ld. CIT(A) erred in holding that once the profit is estimated after rejecting books of accounts, there is no scope for further disal..
Briefly stated, the facts of the case are that the assessee wrote off a sum of Rs.19,48,743/- in its books of account towards Cafeteria expenses. On being called upon to explain as to how such deduction was claimed, the assessee submitted that the pr..
Service Tax was introduced for the first time under Chapter V of the Finance Act, 1994. Section 66 of the Act was the charging section and it provided for the levy of service tax at the rate of five per cent of the value of the taxable services. “Tax..
The grounds raised in the appeal by the Revenue read as under:- “1. That the Ld. Commissioner of Income Tax (Appeals) erred in law and on facts of the case in deleting the addition of ` 16,20,725/- by holding that the GP rate of 24.54% as shown by..
Despite sending notice of hearing sufficiently in advance, assessee did not appear nor any application for adjournment has been received at the time of hearing of the appeal, in spite of the fact that earlier also on 23.3.2011 and 10.8.2011, the appe..
In the instant appeal, there are total three grounds. Ground No. 3 is general in nature. Ground Nos. 1 and 2 raises the same issue. Both impugn the directions issued by Ld. CIT (A) to the AO to re-compute the deduction u/s 80HHC in accordance with th..
The Ld. Commissioner of Income Tax (Appeals) erred in law in treating `35,49,091/- as revenue receipt being the amount received from the flat owners and / or tenants for replacement of capital assets and shown as sinking fund in accounts which was co..
The assessee is a company engaged in the business of syndication of loans, placement of bond and other financial instruments. The assessee received dividend income of Rs. 21,09,430/-, which did not form part of the total income under the Act. In view..
This case was listed for hearing before the Tribunal on 01-5-2012 and for this assessee was informed. Today i.e. on 01-5-2012 when the case was called on board, none appeared on behalf of the assessee nor any request for adjournment has been filed be..
Brief facts of the instant case are that the assessee filed its return on 31.10.2002. On 28.3.2008 the Assessing Officer passed assessment order. Made disallowance u/s 10A of the Income Tax Act (hereinafter to be referred to as the Act) by partly all..
Having regard to the facts stated above and keeping in view of the provisions of Rule 19(2) of the ITAT Rules as were considered by the Tribunal in the case of CIT vs. Multiplan (India) Ltd. reported in 38 ITR 320 (Del) and by the Hon’ble Madhya Prad..
Facts of the case are that the assessee filed its return qua the assessment year on14.11.2006 declaring total income of Rs. 25,88,000/-. Also claimed dividend of Rs. 3,03,110/- as exempt from tax u/s 10(34) of the Act. However, the Assessing Officer ..
The brief facts of the case are that assessee during the year was engaged in the business of solar photo-voltaic wafers, cells, modules and systems etc. It has filed its return of income on 30th October, 2002 declaring loss of Rs.7,47,14,276. The cas..
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