Asstt. CIT v. The Alleppey Co. Ltd.

  Section 10B   Direct Taxes

Income of the 10B unit had to be excluded at the source itself before arriving at the gross total income and since this income was not at all to be in the income of the assessee…

Takshashila Realties (P) Ltd. & Ors. v. Dy. CIT & Ors.

  Section 142(2A)   Direct Taxes

In view of amended section 142 (2A) AO can direct special audit not only after considering the nature and complexity of accounts but also considering multiplicity of transactions or specialized nature of business activities…

Nahar Enterprises v. Dy. CIT

  Section 153A   Direct Taxes

Assessment order passed under section 143(3) read with section 153A could not be held as valid in case it is passed on a non-existing entity, especially after department had been fully informed about the dissolution of the firm…

Tansy Investments (P) Ltd. v. ITO

  Section 14, Section 36(1)(iii)   Direct Taxes

Since assessee was doing business of investment in shares and not carrying out business of earning interest on FDRs, therefore, interest on FDRs was to be assessed as income from other sources and not as business income…

Sidamshetty Ramesh (HUF) v. ITO

  Section 43(6)(c) & 50   Direct Taxes

Harmonious reading of sections 43(6)(c) and section 50 brings out that where an asset is demolished, ansd the block of asset ceases to exist, then difference between the written down value and the salvage received…

CIT v. M/s. Arpit Land Pvt. Ltd., M/s. Ambit Realty Pvt. Ltd.

  Sections 153C, 69C   Direct Taxes

Where seized documents did not belong to assessee, entire proceedings were rendered null and void. The issue of section 69C could arise for consideration of proceedings under section 153C were upheld…

Nilesh Natwarlal Sheth v. Asstt. CIT

  Section 127   Direct Taxes

Since assessee’s case had been transferred from one Officer to another Officer in the same city/station, neither any opportunity was required to be given nor transfer could be set aside for the want of reasons recorded in the order of transfer…

Rajesh Kumar Aggarwal v. CIT & Anr.

  Section 264   Direct Taxes

Where assessee did not claim benefit of section 54F during assessment proceedings, the same could be granted in revision under section 264…

Hingulambika Co-operative Housing Society Ltd. v. CIT

  Sections 264, 139 & 237   Direct Taxes

Where revision petition of assessee was rejected on the sole ground that there was no assessment of return/revised returns by AO, the same was not proper and was to be quashed…

Dy. CIT v. Aroma De France

  Section 194C   Direct Taxes

Since transaction on account of supply of printed packing material to the assessee was in pursuance of a contract for a ‘sale’ and not a contract for ‘work’ as alleged provisions of section 194C does not get triggered…

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