Income Tax Judgements

At the time of hearing before us, it was pointed out by the learned counsel for the assessee that this issue is settled in favour of the assessee for AY 2005-06 because the similar disallowance was made in AY 2005-06. The learned CIT (A) allowed the

At the time of hearing before us, it is stated by the learned counsel for the assessee that there are various factual errors in computing the disallowance as per Rule 8D. However, he is not arguing in detail with regard to those errors but, his argum

At the outset, the learned counsel for the assessee submitted that the issue involved in the present appeals is covered in favour of the assessee by the order of ITAT, Pune Bench dated 7th December, 2011 rendered in assessee’s own case in ITA Nos.983

In this case, the facts are that the original assessment in this case was completed u/s. 143(3) of the IT Act, 1961 wherein, apart from others, disallowance on account of payment of interest of Rs. 10832532/- was made. Being aggrieved by the order of

Facts, in brief, as per relevant orders are that return declaring income of Rs.7,08,754/-filed on 04.03.2009 by the assessee, after being processed u/s 143(1) of the Income-tax Act, 1961 (hereafter referred to as the Act), was selected for scrutiny w

From the observation we can find the following fact, it is very clear that assessee has not obtained any benefit of enduring nature. The royalty is payable on the basis of volume of sales year to year. In the event of termination of agreement has to

The tax effect in this case is found to be less than Rs.3 lac, the limit prescribed under Instruction No. 3/2011 dated 09.02.2011 and when Ld.CIT(DR) was apprised of this fact, she could not controvert the same and she was also unable to show that th

The brief facts of the case are that assessee has filed its return of income on 30.3.2003 declaring an income of Rs.43,400. This return was processed under sec. 143(1) of the Income-tax Act, 1961 on 25.5.2003 at the returned income. According to the

Despite sending notice of hearing sufficiently in advance, assessee did not appear nor any application for adjournment has been received at the time of hearing of the appeal, in spite of the fact that earlier also on several dates the hearing was adj

The brief facts of the case are that assessee is an individual. He has filed his return of income on 18.12.2006 declaring an income of Rs.155,27,356. The case of the assessee was selected for scrutiny assessment and a notice under section 143(2) of t