Daily Archive: Sunday, March 13, 2016

Peak Negative Cash Balance Addition u/s 69C without giving benefit of capitalisation of sums disclosed in earlier assessment years deleted

Author: | Categories: Income Tax, ITAT, Judgments No comments
Unexplained expendiure addition u/s 69C made for peak negative cash balance without giving benefit of capitalisation of sums disclosed in earlier assessment years deleted INCOME TAX APPELLATE TRIBUNAL, DELHI BENCHES, NEW DELHI (CIRCUIT BENCH AT MEERUT) ITA No. 6787/DEL/2011 (Asstt. Year: 2011-12) Rajeev Rastogi vs. ACIT Date of Order:

 

Deduction 80IC-Manufacturing Plastic Pet Bottles, Jars not negative list item in 13th Schedule

Author: | Categories: Income Tax, ITAT, Judgments No comments
Deduction u/s 80IC avaialble for manufacturing of PET bottles, Caps, jars etc. which are not plastic articles and do not fall in the negative list  items mentioned in the 13th schedule. INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘E’: NEW DELHI ITA No. 1309Del/2013 Assessment Year: 2009-10 ITO vs. M/s Om Shree Gita