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Latest Income Tax Case Laws

Commissioner of Income Tax - I Pune vs Intervet India Pvt. Ltd.

Issue: Whether expenses claimed as sales promotion expenses were liable to TDS u/s 194H?Synopsis: The assessee is engaged in the business of manufacture and sale of biological vaccines and other products. The AO noted that the assessee had claimed sales promotion expenses under two schemes, viz.… Read More

Commissioner of Income Tax vs. True Zone Buildwell Pvt. Ltd

Issue: Whether additions can be made only on the basis of entries in the seized documents with the help of section 292C?Synopsis: The assessee is engaged in the real estate development business. Its premises were subjected to search and seizure proceedings. Read More

Assistant Commissioner of Income Tax vs IDFC SSKI Securities Ltd

Issue: Whether loss suffered on account of error in trade order by the assessee dealing in share broking business was disallowable under section 73?Synopsis: The assessee was engaged in the business of institutional stock broking in shares etc. A sum of Rs. 2,65,07,464/- was claimed as loss in… Read More

M/s. Frigoglass India Pvt. Ltd. Vs Deputy Commissioner of Income Tax

Issue: Whether the rejection by the TPO of CPM and RPM for calculation of ALP (as done by the assessee) was justified?Synopsis: This was assessee’s appeal against assessment order passed u/s 143(3)/144C pursuant to DRP directions u/s 144C(5). The assessee is in the Read More

M/s. Binjusaria Properties Pvt. Ltd. Hyderabad Vs Assistant Commissioner of Income Tax

Issue: Whether capital gain could be assessed on the basis of a development agreement between the assessee and the developer, even when the agreement remained to be acted upon?Synopsis: The assessee is a private limited company. During the assessment year under consideration, it gave its land for… Read More

Commissioner of Income Tax vs. Vikrambhai Somabhai Patel

Issue: Whether the assessee is eligible for exemption u/s 10(37) where the assessee himself was not doing the agricultural operations, despite the specific condition that the agricultural operations should be done by such HUF or individual or his parents?Synopsis: The issue pertained to exemption… Read More

Commissioner of Income Tax vs Shri Shriram Hiralal Soni

Issue: Whether the Tribunal was right in holding that the provisions of section 68 were not applicable in the facts and circumstances of the case?Synopsis: In this case, the revenue submitted before the Hon’ble High Court that this was a case where the provision in question, namely, Section 68 was… Read More

ACIT vs Rashmi Chaturvedi

Issue: Whether addition could be made for unexplained investment in land on the basis of the report of the DVO in an assessment u/s 153A, more so when no incriminating documents relating thereto had been found during the two searches?Synopsis: The assessee was deriving salary from M/s Flex… Read More

Assistant Commissioner of Income Tax vs. Shailesh Sharma

Issue: Whether the assessee had adduced sufficient evidence in support of its claim of loans from various parties, so as to satisfy the requirements of section 68?Synopsis: The assessee as well as the revenue filed cross appeals for AY 2007-08 challenging the order of the CIT(A). The revenue raised… Read More

Assitant Commissioner of Income Tax vs Siddharath Sareen

Issue: Whether additions could be made in respect of assessments completed prior to the search, without any incriminating material found during the search itself?Synopsis: The ITAT decided two appeals filed by the revenue against the two separate orders of CIT(A) both dated 31.3.2011, as also the… Read More

Most Read Income Tax Case Laws


Commissioner of Income Tax vs. Himgiri Casting Pvt. Ltd.

in Section: 080IB
Commentary in Hindi Judgment Issue: Whether deduction u/s. 80-IB could be allowed when the assessee failed to furnish the Audit Report along with the Income tax return? Read More

Director of Income Tax (Int. Tax.) vs. Western Geco International Ltd

in Section: 044BB
Commentary in Hindi Judgment Issue: Whether a proviso inserted after the relevant previous year can affect the application of the main section? Read More

Hyosung Corporation Korea vs. Commissioner of Income Tax DR (AAR)

in Section: 245R
Commentary in English Commentary in Hindi Judgment Issue: Whether where the question raised in the application for advance ruling is pending adjudication before the assessing authority, the bar… Read More

Director of Income Tax (Exemption) Vs. Raunaq Education Foundation

in Section: 080G
Issue: When is the credit for Post Dated Cheques to be given?Synopsis: On 07/01/2013, the Hon’ble Supreme Court settled the issue regarding the date of receiving a consideration by way of a… Read More

Amul Research & Development Association vs. Income Tax Officer

in Section: 156
Commentary in English Commentary in Hindi Judgment Issue: Whether the AO was justified in reducing the time period of 30 days to 7 days u/s 220(1) and recover a sum of Rs. 1,39,00,000/- u/s 226(3)? Read More

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