By an interim order dated 6th July, 2009 in the case of Canon India Pvt. Ltd., it was directed that there shall be stay of the impugned demand. The said interim order has continued. In fact, the writ petition filed by Canon India Private Limited was ..
The following are the brief facts which have given rise to the present petition. For the assessment years 2002-03 the petitioner filed a return of income in the status of a non-resident and declared property income and interest income therein. It wou..
The facts are that during the assessment proceedings, the A.O. noted that the assessee claimed depreciation @ 4O% on the block of assets of life saving equipment which included on addition of Rs.55 lakhs. The assessee furnished two bills in respect o..
“On the facts and in the circumstances of the case and in law the Learned CIT (A) erred in upholding the order passed by the learned Assessing Officer applying the provisions of section 50B of the Income tax Act to sale of assets of the M Seal Divisi..
Briefly stated facts of the case are that the assessee an individual derives income from salary, business income and other sources. The assessee’s business premises as well as residential premises were searched u/s 132 of the Income Tax Act, 1961 (th..
DEDUCTION U/S 80-O:- the assessee was requested to prove their claim for deduction u/s. 80-O with documentary evidences in their favour. The assessee vide letter dt. 11.03.2002 has submitted as under (as extracted):- M/s Galana, Madagascar had app..
The Assessee is a finance and investment company. For the Assessment year under consideration for which the relevant previous year was the period between 1-4-1992 to 31-3-1993, the assessee company filed its return of income on 31.12.1993 declaring t..
We have heard the submissions of both the parties and perused the material available on record and the judgments cited by both sides. We find that the judgment of Hon'ble Apex Court rendered in the case of East India Housing and Land Development Trus..
These two stay applications are connected and issues are similar. These stay applications are preferred by assessees on the issue whether the long term capital gains and short term capital gains offered should be treated as business income or profess..
JCIT (OSD)-1(1), Room No.533 & 579, Aayakar Bhavan, Mumbai-400 020 (Appellant) Vs. M/s. Good Value Marketing Co.Ltd. 3rd floor Indl. Assurance Bldg., Churchgate, Mumbai-400 020 PAN NO: AAACG 4925 D (Respondent) ..
The captioned appeal is fixed for hearing before the Hon’ble ‘G’ Bench today. The appellant has received partial relief. As the tax effect of the remaining issue is not significant, the appellant does not wish to pursue the appeal. In the circumstanc..
The only ground of appeal shows the grievance of the appellant against the order of the Ld. CIT(A)-39, Mumbai. who held that the interest to the tune of Rs..41,05,081/- should be considered for working out the disallowance u/s.14A of the Act. Briefly..
On the facts and in the circumstances of the case, the learned CIT (A) has erred in law and on facts in deleting the disallowance made by the Assessing Officer on account of N deduction claimed by the assessee u/s 80HH of the Income Tax Act, 1961...
We have heard both the sides and perused the material placed before us. The facts of the case are that the impugned appeal has originated from the assessment order dated 28.12.2010 which was passed by the Assessing Officer in pursuance to the order u..
Referring to the grounds of appeal, it was submitted by the learned AR that the assessee had reasonable and sufficient cause for non-appearance before CIT (A) as Shri Ajay Gupta was suffering from high blood pressure. He submitted that otherwise also..
The return of income in the present case was filed at a loss of Rs.19,03,733/-. The only addition made to that loss is regarding depreciation claimed on computers which is granted by the Assessing Officer @15% as against the claim of the assessee of ..
The facts, in brief, are that the assessee is a Doctor by profession and also a partner in Shushrusha Hospital & ICU. During the year under consideration, the assessee filed his return of income declaring total income at Rs. 2,94,000/-. Subsequently,..
. In the case of Commissioner of Income-tax vs. Multiplan India (P) Ltd.; 38 ITD 320 (Del), the appeal filed by the revenue before the Tribunal, which was fixed for hearing. But on the date of hearing nobody represented the revenue/appellant nor any ..
From the observation we can find the following fact.. The assessee is a company engaged in management consultancy, implementation of internal controls, system audits, arranging finance from financial institutions and financing and advisory services ..
That being so and in view of the recent CBDT Instruction No. 3 of 2011 dated 9th February, 2011 reported in (2011) 332 ITR 1 (Statutes) and the ratio of the decision of the Hon’ble Jurisdictional High Court in the case of CIT v. Madhukar K. Inamdar (..
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