Income Tax Judgements

The ld. Commissioner of Income — tax (Appeals), ! XXXIII, Mumbai [“ld. CIT (A)”], erred in not adjudicating the ground raised by the Appellant challenging the action of the Assessing Officer [“A.O.”] in reassessing the income of the Appellant by invo

Facts in brief as emerged from the corresponding assessment order passed u/s.143(3) of the I.T. Act, 1961 dated 31/01/2006 and the penalty order passed u/s.271(1)(c) of the I.T.Act, 1961 dated 31/03/2008 were that the addition in respect of write off

After hearing the rival submissions and on careful perusal of materials available on record keeping in view of the fact that since the assessment year involved in this appeal is relating to A.Yr. 2004-05 as per the decision of the Hon’ble Bombay High

The short issue involved in these appeals is: whether common expenses incurred by an assessee can be allocated towards taxable and non-taxable income under the provisions of Section 14A of the Income Tax Act, 1961 (hereinafter referred to as the „I.T

Briefly stated facts of the case are that the assessee company is engaged in the business of Trading in Electric Motors, Fans, Laboratory equipments and generation of Wind Power filed return declaring total income at Rs.11,60,151/-. During the course

When the matter was called on for hearing, nobody appeared on behalf of the assessee nor was any application for adjournment filed. From the acknowledgement-cum-notice, it is transpired that the assessee’s representative has noted the date of hearing

Assessing Officer levied penalty under section 271D for the assessment year 2004-05 in respect of M/s. J.A. Land & Housing Dev. India Limited and also in assessment years 2005-06 & 2006-07, as well as under section 271E of the Income Tax Act for the

Facts in brief are that during the course of assessment proceedings, the Assessing Officer noticed that the assessee has claimed deduction of Rs.64,41,673 on account of loss being exchange difference on refund of customer’s advance. It was also notic

The captioned appeals being three (3) in number are directed against a common judgment of the Income Tax Appellate Tribunal (hereinafter referred to as the Tribunal) dated 22.02.2008 ITA No.1367/2008 relates to Assessment Year 1991-1992; ITA No.1

The facts which revealed from the record are as under. The assessee is Co-operative Housing Society. The return filed by the assessee was selected for scrutiny and assessment was completed u/s.143(3). It was also noticed by the A.O. that the assesse