Courts say.....

"Having examined the record, we find that in this case, the Department sought reopening of the assessment based on the opinion given by the District Valuation Officer (DVO). The opinion of the DVO per se is not an information for the purposes of reopening assessment under section 147 of the Income-tax Act, 1961. The Assessing Officer has to apply his mind to the information, if any, collected and must form a belief thereon."

ACIT vs. Dhariya Construction Co. (2010) 328 ITR 515 (SC) quoted in CIT vs. M/s Baldev Plaza, Golgha And Another (Allahabad High Court)

DTRJ20131017

People say.....

"The hardest thing in the world to understand is the income tax."
Albert Einstein

Readers say...

Your IP


IP Addres:
54.196.206.80
Visitor counter, Heat Map, Conversion tracking, Search Rank

Latest Income Tax Case Laws

Commissioner of Income Tax vs. Smt. Kanti Gupta

Issue: Whether any addition can be made only on the basis of surrender statement u/s 133A and without any incriminating evidence?Synopsis: The Department in this case was of the view that the Tribunal was not justified in appreciating the fact that the proprietorship business of Shri Satish Chand… Read More

M/s. Rayala Corporation Pvt. Ltd. vs Assistant Commissioner of Income Tax

Issue: Whether the income is assessable as income from house property or from business?Synopsis: The assessee is a company mainly deriving income from sub lease of rental properties, maintenance charges, interest income being interest on deposits, A.C. service charges and miscellaneous income. Read More

Commissioner Of Income Tax vs. M/s. Cavinkare Pvt. Ltd

Issue: Whether the Tribunal was right in holding that the indirect expenditure related to exports should only be calculated on the basis of the formula u/s 80HHC when the detail of indirect cost pertaining to exports was furnished by the assessee?Synopsis: The assessee is a manufacturer of plastic… Read More

Pramod Kumar vs. Commissioner of Income Tax

Issue: Whether the Tribunal was justified in confirming the penalty imposed u/s 271(1)(c)?Synopsis: During the AY, the assessee was dealing in export of pharmaceuticals and share trading. The AO noted that the assessee had made false claim for getting various deductions. Read More

Commissioner of Income Tax vs. M/s. Sahara India Mutual Benefit Co. Ltd

Issue: In the three assessment years, there are two issues:(1) Whether the Tribunal was justified in restricting the expenses claimed by the assessee as paid / reimbursed to its agent M/s. Sahara India to 4.5% of the total deposits collected as against 3% estimated by the AO?(2) Whether the… Read More

Commissioner of Income Tax vs. Mr Gurpreet Singh

Issue: Can addition u/s 40(a)(ia) be made where facts are not clearly established?Synopsis: The assessee is the sole proprietor of Harmony Travels and is a contractor who provides vehicles with drivers to third parties. The assessee had declared income of Rs. 5,93,390/-. Read More

K.V. Mathew vs. Income Tax Officer

Issue: Whether the Tribunal was justified in confirming the addition made u/s 69A in respect of credits which were received from sister of the assessee who is an NRI?Synopsis: The assessee is a dealer of Art and Craft Paper and filed his return of income for AY 2005-06 declaring total income of Rs.… Read More

Commissioner of Income Tax vs. Shilp Gravures Ltd

Issue: Whether the reopening of assessment u/s 147 at the instance of audit party is invalid?Synopsis: The assessment for AY 2004-05 was completed u/s 143(3) on a total income of Rs. 174,89,890/-. The AO held that the R&D expenses to the tune of Rs. 54.07 lac in respect of in-house research were… Read More

Jayvantsinh N. Vaghela vs. Income Tax Officer

Issue: Whether the Tribunal was justified in dismissing the appeals on the ground of limitation?Synopsis: The assessee had challenged the common order passed by the Tribunal for AY 2007-08 & AY 2008-09. There was a delay of 328 days in preferring the appeal against the order passed by the CIT(A)… Read More

P. Mohammed Alias Manu vs. Commissioner of Income Tax

Issue: Whether the carried forward loss from house property and interest paid on borrowings for the previous year can be set off against income from house property while computing the undisclosed income of the block period?Synopsis: The assessee and his wife were partners of a firm known as “M/s.… Read More

Most Read Income Tax Case Laws

8215

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
5758

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
2259

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
2032

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
1967

Commissioner of Income Tax vs. HCIL Kalindee ARSSPL

in Section: 271C
Commentary in English Commentary in Hindi Judgment Issue: Whether mere filing of the forms/certificates can absolve and protect an assessee from levy of penalty u/s 271(1)(c) who furnishes inaccurate… Read More
   

Concern For Environment

Direct Taxes Report Journal

Is Not Printed

Ask Us

Latest Discussion

  • No posts to display.

Subscribe News Letters

Subscribe Newsletters
Email (*)
Invalid Input
Name (*)
Invalid Input
Verify Human (*) Verify Human
  Refresh
Invalid Input
Subsribe

Who's Online

We have 10 guests and no members online

Live Visitors

Site Last Modified On

  • Last Modified: Monday 14 April 2014.

We are social......

  • Facebook: directtaxesreportjournal
  • Twitter: directtaxesrep
  • Tumblr: directtax

Exchange Rate Calculator