Courts say.....

"To fall within the ambit of the principle of mutuality, there has to be a complete identity between the class of participators and class of contributors, the actions of the participators and contributors must be in furtherance of the mandate of the association and there must be no scope of profiteering by the contributors from a fund made by them which could only be expended or returned to themselves."

Bangalore Club vs CIT (Supreme Court)

DTRJ20130801

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"We must care for each other more, and tax each other less."
Bill Archer

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Latest Income Tax Case Laws

Assistant Commissioner of Income Tax vs. Bhupender Singh Talwar

Issue: Whether in the facts and circumstances of the case, the order of penalty under section 271(1)(c) was without jurisdiction, and was justifiably cancelled in appeal?Synopsis: The assessee an individual had filed his return of income for the AY under dispute on 28/08/2009 declaring income of… Read More

Yama Finance Limited vs Assistant Commissioner of Income Tax

Issue: Whether the Tribunal erred in holding that income from sale of mutual fund units constituted business income?Synopsis: The assessee was dealing in shares and had also invested in mutual funds. The mutual fund holding had been shown in its investment account and was not characterized as… Read More

Commissioner of Income Tax vs. M/s. Apex Agencies

Issue : Whether the Tribunal was justified in remitting the issue of disallowance of interest and finance charges back to the A.O. for fresh consideration without considering the issue on merits. Synopsis : The assessee is a trader in batteries, torch light and Read More

Commissioner of Income Tax vs. S. Pritam Singh

Issue : Whether the Tribunal erred in deleting the addition of Rs. 9,10,000/- on account of profit from undisclosed sales?Synopsis : There was a search and seizure operation on 13/10/1995 at the residential and business premises of the assessee. Read More

Lark Construction Pvt. Ltd. vs Addlitional Commissioner of Income Tax, Panvel Range, Mumbai

Issue: Whether the estimation of income after rejection of books of accounts was reasonable in the facts and circumstances of the case, and whether addition to income could be made u/s 40(a)(ia) in such a case?Synopsis: The assessee company was engaged in the business of civil construction and… Read More

Deputy Commissioner of Income Tax vs Digital Radio (Kol) Broadcasting Ltd.

Issue: Whether reopening of the assessments u/s 147 was valid, even though the assessee had voluntarily filed an application u/s 154 covering the same mistake prior to the issue of notice u/s 148? Synopsis: These appeals involved the cases of two different assesses, wherein similar facts were… Read More

Commissioner of Income Tax vs. Compro Technologies Pvt. Ltd.

Issue : Whether the Tribunal was justified in deleting the penalty imposed u/s 271(1)(c) in respect of wrong computation of book profit u/s 115JB?Synopsis : In this case, the C.A. of the assessee had filed his own personal affidavit accepting his fault that he had misunderstood Read More

M/s Ericsson AB, Sweden C/o PricewaterhouseCoopers (P) Ltd.Vs Additional Director of Income Tax

Issue: Whether the reopening of assessment completed u/s 143(3) beyond 4 years from the date of completion of assessment was bad in law?Synopsis: This appeal by the assessee was directed against the directions of Dispute Resolution Panel for the AY 2004-05. The ground taken by it was 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

Commissioner of Income Tax vs Itarsi Oil and Flour Mills, Raipur

Issue: Whether the term ‘business’ used in section 80HHC(3) refers to all the businesses of the assessee, or only the unit doing export business?Synopsis: In this reference at the instance of the Department u/s 256 (1), the question was whether the word 'business' used in Section 80HHC(3) means all… Read More

Most Read Income Tax Case Laws

12492

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
6811

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
2408

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
2209

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
2146

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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