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Latest Income Tax Case Laws

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

Deputy Commissioner of Income Tax vs Ignite Mundra Pvt. Ltd. (Formerly Known as Canvas Communication P. Ltd.)

Issue: Whether disallowance u/s 40(a)(ia) could be made for non deduction of TDS on payments made to a group company, where such payments were in the nature of reimbursement of cost of employees’ services?Synopsis: The assessee company was in the business of advertising and marketing. It was… Read More

Rajmoti Industries Vs Assistant Commissioner of Income Tax

Issue: Can the provisions of sec 40A(3) be ignored if payment is made by a ‘crossed cheque’ instead of by an ‘account payee cheque’?Synopsis: The assessee declared total income of Rs. 83.28 lakhs. The AO disallowed a sum of Rs. 26,72,198/- being 20% of the total payment of Rs. 1,33,60,988/- made by… Read More

Commissioner of Income Tax - II Ludhiana vs Pooja Investment Pvt. Ltd.

Issue: Whether income from redemption of Tata Mutual Fund (Dividend Plan) was assessable as business income, rather than short term capital gains?Synopsis: The assessee was dealing in shares and securities and filed its return for the AY 2006-07 declaring an income of Rs. 1,27,80,378/-. Read More

Jigar Rajesh Babaria, Mahesh Vrajlal Babaria vs Assistant Commissioner of Income Tax

Issue: Whether disallowance u/s 14A read with Rule 8D was correctly computed by the AO in the facts and circumstances of the case?Synopsis: The two appeals pertaining to members of the same family were heard together by the ITAT and decided by a common order. The assessee carried on business of… Read More

Commissioner of Income Tax vs. Modi Spinning Mills And Weaving Mills Co Ltd

Issue: On admissibility of additional ground.Synopsis: In this case the revenue was aggrieved by an order of the ITAT whereby a direction had been issued to the CIT(A) to admit the additional grounds urged by the assessee and adjudicate upon it. 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

Commissioner of Income Tax vs. GIMPEX LTD

Issue: Whether the deduction u/s 80IB can be allowed without setting off the losses of other units?Synopsis: The assessee is engaged in the business of process and sale of Barytes minerals by establishing 12 units located at different places. Two of such units are located in Andhra Pradesh State… Read More

Commissioner of Income Tax vs Devasan Investment Pvt. Ltd.

Issue: Is the income earned from purchase and sale of shares, on the facts and circumstances of the case, a business income or capital gain?Synopsis: The AO assessed the STCG on sale of shares at Rs.35,75, 908/- (for 2006-07) claimed by the assessee and Rs. 1,43,43,154/- (for 2007-08) as business… Read More

Deputy Commissioner of Income Tax vs M/s. Embee Diagnostics Pvt. Ltd.

Issue: Whether the AO was justified in disallowing the amount described as ‘provision for doubtful debts’ in the re-assessment proceedings in the facts and circumstances of the case?Synopsis: The assessment for AY 2007-08 completed u/s 143(3) was reopened by the AO on the ground that the assessee… 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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