Judgements by CS Bijoy

AO cannot make addition after maintaining complete books of account with the Tax Audit report only on the basis of entries made on 31st March

CS Bijoy 19 June 2012 at 12:44

The brief facts of this issue are that while doing the scrutiny assessment Assessing Officer has added an amount of Rs.23,49,260/- by observing that: “During the course of survey, a compact disc containing books of a/cs. were impounded. The print

Posted in Income Tax | 1921 Views

As per the SC decision onus of proving what was apparent is not real is on the party who claim it to be so

CS Bijoy 18 June 2012 at 12:19

From the observation we came to know that only claiming fact is not enough to appreciate the appropriate authority to accept the contention and decide in favor of the appellant, the appellant must give proper supporting evidence.

Posted in Income Tax | 1957 Views

Rental Income from letting out of terrace is to considered as income from house property subject to deduction under sec 24

CS Bijoy 18 June 2012 at 12:19

The brief facts of the above issue are that it was found by the Assessing Officer that the assessee has allowed M/s. Hutchison Max Telecom Ltd. to erect the tower on their terrace in consideration of an amount of ` 5,93,700 and claimed as income from

Posted in Income Tax | 2652 Views

As pers sec 11A if Cenvate Credit taken on capital goods and removed as such than assessee liable to refund the credit taken

CS Bijoy 16 June 2012 at 13:21

The brief facts leading up to the filing of the present appeals may be noticed. M/s. Harsh International Pvt. Ltd., one of the appellant, herein, is a company engaged in the manufacture of chewing tobacco. It was registered under the Central Excise L

Posted in Income Tax | 2078 Views

In case of concealment of income in return deduction under sec 80HHC is allowed appropriately and expenses related to business only allowable

CS Bijoy 16 June 2012 at 13:20

Briefly stated, the facts of the case are that the assessee filed its return of income on 30.10.2002, inter alia claiming the deduction u/s.80HHC. The return was proceeded u/s.143(1)(a). There was no regular assessment under the provisions of the Act

Posted in Income Tax | 2053 Views

Limitation being a matter of procedure, only that law that is applicable at the time of filling the appeal so sec 74A(2)(b) of DVAT would apply

CS Bijoy 15 June 2012 at 12:55

By way of this writ petition, the petitioner has challenged the show cause notice dated 02.02.2010 pertaining to the assessment year 2003-2004 primarily on the ground that the said show cause notice is barred by time. By virtue of the said show cause

Posted in Income Tax | 2090 Views

Notice issued under sec 143 on or before September 2011 is barred by limitation as per second provision to sec 153(1)

CS Bijoy 15 June 2012 at 12:55

The petitioner had filed return of income for the assessment year in question under Section 139(4) of the Act on 6th October, 2010. The contention of the petitioner is that the Assessing Officer could have initiated scrutiny assessment proceedings by

Posted in Income Tax | 4063 Views

As per clause 11 expenses incurred for promotion of branded jewellery which give enduring benefit to the assessee can claim deduction

CS Bijoy 14 June 2012 at 12:17

The factual matrix of the case is that the assessee-company is engaged in the business of licensing, manufacturing, distribution and selling of diamonds under the brand “Nakshatra”. In the course of scrutiny proceedings, the Assessing Officer noted t

Posted in Income Tax | 2375 Views

Expenses related to business can claime as deduction and show cause notice is not condition precedent for charging interest under sec 217

CS Bijoy 14 June 2012 at 12:16

In paragraph 2 of the judgment, it was pointed out by this Court that the learned counsel for the assessee/appellant confined his grievance only to disallowance of payment of `2,00,000/- made to one Mr. Sunil Kumar. This issue has been considered and

Posted in Income Tax | 2446 Views

In case of no contrary view by superior and in the absence of supporting document exemption under sec 11 is allowed

CS Bijoy 13 June 2012 at 12:21

In the facts and circumstances of the case and in law the learned CIT(A) has erred in directing the AO tog grant exemption u/s. 11 of the I.T Act to the assessee trust when the order dt. 31.12.2008 u/s. 12AA(3) of the Act has been appealed before the

Posted in Income Tax | 1646 Views