Income Tax Judgements

On the facts and circumstances of the case and in law the CIT(A) has erred in not appreciating that clause(b) of the Explanation(1) of Sec. 11 5JB provides that for calculating book profit the profit as shown in the profit and loss account has to be

On the observation the following facts are found:- i) On the facts and in the circumstances of the case and in l aw the learned CIT(A) erred in sustaining the addition to total income of Rs.5,00,000/- received as gift on 23rd August, 2004 which

The assessee is under the Ministry of Shipping, Govt. of India. Assessee’s business is in ship building, ship repairing and general engineering. The ld. A.O. made an addition of Rs. 2 crores, which was stated as received from Government for upkeep of

The facts in brief are that the assessee company was engaged in the business of undertaking contracts for providing various liaison activities in telecommunication strategy had entered into contract dated 5.1.2005 with M/s. ZTE Corporation, a Chinese

The appeal was fixed for hearing today i.e. on 1st February, 2012. No one is present on behalf of assessee. Nor there is any application for adjournment. In view of above, it appears that assessee is not interested in prosecuting this appeal. Hence t

When the appeal was called for hearing, a letter dated 27.1.2012 signed by the assessee was placed before us, wherein the assessee sought permission to withdraw the appeal. It is mentioned in the letter received on 27.1.2012 as under: “I request w

Brief stated facts of the case are as follows: The assessee is a partnership firm dealing in automobiles and Sony products and also into generation of electricity from windmills. The assessee filed its return of income for AY 2007-08 declaring income

the question about admissibility of depreciation of Acquired Business Database is concerned, this issue is covered in favour of the assessee by the judgment of Hon’ble Delhi High Court in the case of CIT vs. Hindustan Coca Cola Beverages Pvt Ltd (331

We have considered the facts of the case and submissions made before us. We have already mentioned that there is a distinguishable feature namely that the assessee has received payments from persons residents in India. However, the receipts have been

We may first take up the case of M/s Mother Dairy India Ltd. for the assessment year 2004-05. This company hereinafter referred to as „Dairy‟, was incorporated on 1.4.2003 as wholly owned subsidiary of another company by name Mother Dairy Fruit and V