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..
The issue above mentioned has come up in the light of the following facts which can be briefly stated as follows: we take M/s Tarpaulin International Civil Appeal No. 5341 of 2005 as the lead case. The noticee is carrying on the business of producing..
In a scheme of amalgamation filed with the High Court, Eighteen wholly-owned subsidiaries engaged in the business of real estate, proposed to merge with their parent company ‘Delhi Towers Limited’. The Scheme became effective after being approved..
Excise - Claim of MODVAT credit in respect of steel plates and M.S. channels used in the fabrication of chimney for the diesel generating set, by treating these items as capital goods in terms of Rule 57Q of the Central Excise Rules, 1944 ..
Nature of Receipt - Whether the liquidated damages received by the assessee from the supplier of the plant and machinery on account of delay in the supply of plant is a capital or a revenue receipt? ..
A show cause notice, dated 20th August 1999, was issued to the assessee, alleging therein that MODVAT credit availed of on steel plates and M.S. channels used in the fabrication of chimney, was inadmissible as the subject items were not “capital good..
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..
Since the goods were not as per the description given in the bills of lading, the same were confiscated by the Customs Department. Respondent No.1 made representations to the appellant for release of the containers after de-stuffing the goods. The ap..
Tax Exempt income - Instant Appeal against tax Court's decision - Contributions made by Petitioner to corporations claimed as "tax-exempt income" - capital contributions claimed as ordinary losses incurred in a trade or business - Whether petitioners..
For purposes of working out application of proviso to Section 112, there is nothing in section which would deprive assessee of indexation claimed on sale of shares where there was a resultant loss..
Appeal - Concurrent findings of fact - Section 35G of the Central Excise Act, 1944 - During search, double set/parallel Central Excise Invoices were recovered from the Factory premises of the Appellant, which was admitted by the Director - Impugned g..
Detention of goods - Validity - Petitioner sought clearance of impugned imported goods for home consumption on payment of import duty, which was physically verified by Departmental Officers and samples were taken for the purpose of making assessment ..
Service Tax Liability - Renting of immovable property to be used for commercial / business purposes - Amendment has been introduced to Section 65(105)(zzzz) and 76 by virtue of the Finance Act, 2010 - Whether Assessee was to pay service tax liability..
Limitation ? Extended period ? Section 11A(1) of the Central Excise Act, 1944 ? Demand was raised invoking extended period of Limitation alleging suppression of facts on the ground that the processed fabrics were manufactured and cleared by the Appel..
Speculative transaction - Deduction disallowed - Section 43(5) of Income tax Act, 1961 - Assessee - HUF engaged in business of dealing in shares and securities - In P&L Account debited loss on account of Nifty hedging transactions. Assessing Officer ..
The Income- Tax Act, 1995 Commissioner Of Income Tax, ... vs Rajasthan Rajya Bunkar S. Samiti ... on 16 February, 2010 Section 11 in The Income- Tax Act, 1995 Section 10 in The Income- Tax Act, 1995 Section 12 in The Income- Tax Act, 1995..
On a first flush, after bare perusal of the impugned order passed in Revenue Tax Appeal No. 1904 of 2005, decided on 8.8.2006 by Division Bench of the High Court of Gujarat at Ahmedabad, we thought of remanding the matter for a fresh decision on meri..
Where business of the undertaking was to manufacture and export readymade garments, the CIT (A) was not justified in holding that profit from forward contract is to be included in the profit of the business of the undertaking for the purposes of comp..
Reassessment proceedings - Alleged violation of the statutory provisions of Section 35 of the Bombay Sales Tax Act, 1959 on the ground of Concealment of sales, Inter-State movement of goods and Bogus C-forms - Whether notice for reopening of assessme..
Permanent Establishment (PE) under DTAA - Test of Interconnection and Interdependence - Assessee - company incorporated in, and tax resident of, Mauritius - Engaged in business of marine and general engineering and construction, executed three contra..
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