Search Results for "ITAT order"

531 result(s) found

Scroll Down To Discover

Found 531 result(s)

© Image Copyrights Juris Services & Technology

Madras High Court Dismisses Revenue's Appeals in Insurance Company Tax Case — Upholds ITAT Order on Disallowance of Claims and Deductions. The court held that the assessee's method of accounting for outstanding claims and the deduction under Section 80M were correctly allowed by the Tribunal.

The case involves a batch of appeals filed by the Principal Commissioner of Income Tax, Chennai, under Section 260A of the Income Tax Act, 1961, again...

© Image Copyrights Juris Services & Technology

Supreme Court Dismisses Assessee's Appeal in Income Tax Case — Revised Return Barred by Limitation Under Section 139(5) of Income Tax Act, 1961. Assessing Officer Cannot Entertain Claim Made After Expiry of Time for Filing Revised Return.

The appellant-assessee, M/s. Shriram Investments, filed a return of income on 19 November 1989 for the assessment year 1989-90 under the Income Tax Ac...

© Image Copyrights Juris Services & Technology

Bombay High Court Dismisses Revenue's Appeal in Bogus Purchase Case - Upholds ITAT's Estimation of Profit. Estimation of profit on bogus purchases at 12.5% upheld as reasonable; entire purchase amount cannot be added when purchases are not disputed as genuine.

The case involves two appeals filed by the Pr. Commissioner of Income Tax under Section 260A of the Income Tax Act, 1961, challenging the order of the...

© Image Copyrights Juris Services & Technology

Bombay High Court Dismisses Revenue's Appeal in Bogus Purchase Case — Confirms ITAT's Order Restricting Disallowance to Profit Element. Purchases from Non-Compliant Parties Held Not Bogus Where Goods Were Used in Business; Only Estimated Profit Addition of 12.5% Sustained Under Income Tax Act, 1961.

The case involves two appeals filed by the Pr. Commissioner of Income Tax under Section 260A of the Income Tax Act, 1961, challenging the order of the...

© Image Copyrights Juris Services & Technology

Supreme Court Partially Allows Revenue's Appeal in Income Tax Exemption Case and Remands for Fresh Consideration. Assessing Officer Directed to Re-examine Charitable Trust Status of Society Running Newspaper with Advertisement Revenue Under Sections 2(15) and 11 of Income Tax Act, 1961.

The Supreme Court partially allowed an appeal by the Commissioner of Income Tax (revenue) concerning the charitable trust status and tax exemption eli...

© Image Copyrights Juris Services & Technology

Bombay High Court Dismisses Revenue's Appeal in Software Development Expenditure Case. Expenditure on Development of New Products Held Revenue Expenditure as Incurred to Maintain Existing Business.

The case involves two appeals filed by the Pr. Commissioner of Income Tax-5 under section 260A of the Income Tax Act, 1961, against the order of the I...

© Image Copyrights Juris Services & Technology

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Reassessment Case — No Substantial Question of Law Arises. Reassessment Notice Based on Alleged Discrepancy in Accounts Found During Search Was Not Justified as Accounts Were Already Subject to Scrutiny Under Section 143(3).

The Revenue filed appeals under Section 260A of the Income Tax Act, 1961, against a common order of the Income Tax Appellate Tribunal (ITAT) dated 4.7...

© Image Copyrights Juris Services & Technology

Bombay High Court Allows Department's Appeal in Part, Upholds Revenue Treatment of Transformer Repairs. Expenditure on repairs of damaged transformer held to be current repairs under Section 31 of Income Tax Act, 1961, not capital expenditure.

The case involves three Income Tax Appeals filed by the Commissioner of Income Tax-I, Nagpur, under Section 260A of the Income Tax Act, 1961, against ...