ITO v. Moonrock Hospitality (P) Ltd.

  Section 14A   Direct Taxes

Since the assessee’s profit and loss account showed only one item of expenditure which had been booked in the accounts and there was no exempt income earned by the assessee, the question of…

Shri Kantibhai Naranbhai Prajapati v. ITO

  Section 271(1)(c)   Direct Taxes

Where ground for imposition of penalty under section 271(1)(c) was ‘concealment’ and it was substituted by CIT(A) as ‘furnishing of inaccurate particulars of income’, there was absence of…

Asstt. CIT v. Ramakant Rajaram Bodke

  Section 24(b)   Direct Taxes

As regards assessee not having shown any house property income, it must be appreciated that in case of self occupied property there would not be any income to be shown under ‘House…

Vikram Singh v. UOI

  Section 276C   Direct Taxes

Having filed the compounding application the assessee cannot attempt to wriggle out of his obligations to pay the compounding charges by alleging that the same were exorbitant because amount…

Chambal Fertilizers & Chemicals Ltd. v. Asstt. CIT

  Section 271(1)(c)   Direct Taxes

A mere making of a wrong, though bona fide claim of depreciation, which is not sustainable in law, by itself will not amount to furnishing inaccurate particulars of income and therefore, such…

ACIT v. Thatavarthi Ramesh Babu Kanuru

  Section 68   Direct Taxes

Where the assessee declared higher limit to bank of avail of credit facilities there was difference between bank stock, stock declared of bank, then addition of income cannot be verify only on this…

Yogendra Khandelwal Prop. v. Asstt. CIT

  Section 40A(2)(b)   Direct Taxes

Evidences in the form of sales invoices and copy of voucher of commission paid to relative could not substantiate actual rendering of services and facilitation of sales through the efforts of that…

Bengal Tea & Fabrics Ltd. v. Dy. CIT

  Section 195   Direct Taxes

Where no business operations of commission agent were carried on in India, commission earned by them would be outside the ambit of income ‘deemed to accrue or arise in India’ for the…

M.K. Vithya v. ITO

  Section 54F   Direct Taxes

Where investment in a new residential house was made within three years from date of transfer of assets, exemption could not be denied on the ground that unutilized amount was not deposited…

Eslian Minerals (P) Ltd. v. Dy. CIT

  Section 194C   Direct Taxes

TDS requirement under section 194C is not applicable to transactions of purchase of goods.…

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