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Latest Income Tax Case Laws

M/s. Vardhman Acrylics Ltd. Vs. Commissioner of Income Tax

Issue : Whether the Tribunal was justified in holding that incentives/subsidies in the form of exemption from sales tax received by the assessee constituted revenue receipt? Synopsis : The assessee received sales tax liability. The issue under consideration is whether the subsidy is a revenue or… Read More

Lalit Bagai vs. Deputy Commissioner of Income Tax

Issues: Whether the AO was right in reopening the original assessment u/s 147 on the ground that the total income as per Form 16A certificates was higher than that credited to the P& L A/c and no TDS was deducted on payments of Rs. 5,27,52,272? Synopsis: Original assessment u/s 143(3) was completed… Read More

Commissioner of Income Tax vs. NR Portfolio Pvt. Ltd.

Issue : Whether the Tribunal was justified in deleting the additions made u/s 68 of Rs. 63,80,100/- and Rs. 75,60,200/- in respect of AYs 2002-03 and 2003-04? Synopsis : The two appeals filed by the Revenue raised similar questions for the AYs 2002-03 and 2003-04. The A.O. had made the additions… Read More

Yum Restaurants (India) Pvt. Ltd. Vs. Income Tax Officer

Issue: Whether the DRP’s decision in upholding the AO’s action in making disallowance u/s 40A(2)(b) was valid?Synopsis: The assessee operates company-owned KFC outlets in India. Certain International transactions were reported in Form No. 3CEB, Read More

Commissioner of Income Tax Vs. M/s. Roots Industries India Ltd.

Issue : Whether the Tribunal was justified in holding that the assessee was entitled to claim deduction u/s 80IA? Synopsis : Before the Hon’ble High Court, it was submitted by the assessee that the issue involved in this appeal had already been decided by the Hon’ble Madras High Court in the Read More

Commissioner of Income Tax Vs. Ms. Bina Indrakumar

Issue : Whether the Tribunal was justified in reversing the order passed by the CIT u/s 263 holding that the power under this section was exercised on mere change of opinion? Synopsis : In this case the CIT invoked his power u/s 263 and set aside the assessment order dated 15/12/2008 as in the… Read More

Deputy Commissioner of Income Tax Vs. M/s. Indian Immunologicals Ltd.

Issue: Whether the CIT(A) erred in facts and law in granting deductions to the assessee when they were not recognized as R & D expenses and when there are specific provisions of section 35(1)(i) and 36(1)(iv) for granting such deduction?Synopsis: The assessee company is in the business of… Read More

Commissioner of Income Tax Vs. M/s. Sunrise Knitting Mills

Issue : Whether the Tribunal was justified in holding that the assessee was entitled to claim deduction u/s 80IA? Synopsis : The business undertaken of the assessee is wind mill power generation and textile exports. The assessee has claimed the benefit of Read More

Commissioner of Income Tax Vs. Indian Farmer Fertilizer Co-Operative

Issue : Whether the assessee was entitled to any amount for the delayed payment of interest u/s 244A on the principal refund claimed by it? Synopsis : The assessee’s returns filed for the AYs 1997-98 and 1998-99 were processed u/s 143(1) on 30/6/1998 and 19/3/1999 respectively. The assessee claimed… Read More

M/s Bhima Jewellery Vs. Deputy Commissioner of Income Tax

Issue: Whether CIT was correct in invoking provisions of section 263, on the issue of higher rate of depreciation for Windmill & Electrical works for transmission of electricity so generated by the windmill? Synopsis: The Assessee, engaged in running a jewellery shop, filed its return on 1-10-2013… Read More

Most Read Income Tax Case Laws

13029

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
6911

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
2457

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
2291

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
2192

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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