Category: ITAT
Deduction u/s 80IC available 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 …
Loans Advance given on interest not deemed dividend u/s 2(22)(e) as shareholder not derive benefit from funds of company When the company was compensated by way of interest on loan taken, the assessee shareholder in real sense did not derive any benefit from the funds of the Company …
Property Fair market value as on 01-04-1981 based on market rates taken from Sub-Registry records not without basis The fair market value of the property as on 01.04.1981 by the Registered Valuer on the basis of prevailing market rate from the relevant records of Sub-Registry Office as well as …
Allowability of interest as cost of acquisition of capital asset u/s 48(ii) is highly debatable, not open for revision u/s 263 by CIT The issue relating to the allowability of interest as the part of cost of acquisition of the capital asset under section 48(ii) is highly debatable …
CIT Appeals order passed ex parte without giving another opportunity or mentioning reasons for additions sustained is bad INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH ‘A’, KOLKATA ITA No. 766/Kol/2013 : Asstt. Year : 2009-2010 Asish Ranjan Chowdhury (APPELLANT)  vs. I.T.O. (RESPONDENT) Date of Order: 11/03/2016 ORDER Per Shri S.S.Viswanethra Ravi, J.M. …
CIT Revision u/s 263 unjustified alleging wiping out income surrendered u/s 133A treating it business income and not separately u/s 69A INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR I.T.A No. 203(Asr)/2014 Assessment Year: 2009-10 M/s Superfine Agro Industries (Appellant) vs. Income Tax Officer (Respondent) Date of Order: 10/03/2016 ORDER PER T. …
Revision u/s 263 not justified in case of best judgment assessment u/s 144 for non co-operation by assessee INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR I.T.A No. 220(Asr)/2015 Assessment Year: 2010-11 M/s Sutlej Wine Enterprises (Appellant) vs. PrCIT (Respondent) Date of Order: 10/03/2016 ORDER PER T. S. KAPOOR (AM): …
Payments to Singer Performer in Hotel liable for TDS u/s 194C as contractual not professional u/s 194J In a recent judgment, ITAT, New Delhi has ruled that payment made to a singer group for performing in the restaurant of a hotel can not be characterised as professional payments …
No requirement to file separate appeals against TDS default u/s 201(1) and interest default 201(1A) to work tax effect In a recent judgment, ITAT, New Delhi has dismissed the contention of the assessee that the Revenue ought to have filed separate appeals against the order u/s 201(1) and 201(1A) …
Disallowance u/s 14A Rule 8D3-Computation of total Assets include current liabilities also ITAT Delhi in a recent judgment has remanded the case to the Assessing Officer noticing that the AO for the purpose of disallowance u/s 14A computed incorrect value of “total assets” as per Rule 8D by excluding …
