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Search Results for "ITAT order"

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High Court

Madras High Court Allows Assessee's Appeal in Cash Credit Case Under Section 68 of Income-Tax Act, 1961. Assessee Discharged Burden of Proving Identity, Creditworthiness, and Genuineness of Creditor; Department Failed to Rebut.

23 Jan 2025

The appellant, M/s. Real World Builders P Ltd., filed an appeal under Section 260A of the Income-Tax Act, 1961 against the order of the Income Tax App...

High Court

Bombay High Court Dismisses Revenue's Appeal in Bogus Purchase Case, Upholds Estimation of Income at 12.5% on Disputed Purchases. The Court held that in the absence of specific evidence linking the assessee's transactions to bogus purchases, the entire expenditure cannot be added under Section 69C of the Income Tax Act, 1961.

7 Aug 2024

The case involves two appeals filed by the Revenue under the Income Tax Act, 1961, challenging a common order of the Income Tax Appellate Tribunal (IT...

High Court

Bombay High Court Allows Assessee's Appeal in Income Tax Case Regarding Addition of Old Sundry Credit Balances Under Section 68 and Adhoc Disallowance of Labour Charges. The Court held that Section 68 of the Income Tax Act, 1961 applies only to credits in the relevant previous year, and adhoc disallowance without material basis is unsustainable.

14 Feb 2020

The appellant-assessee, Shri Ivan Singh, filed a Tax Appeal under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appella...

High Court

High Court of Karnataka Dismisses Revenue Appeal in Income Tax Registration Case — Trust's Objects Held Specific and Charitable Despite Religious and Commercial Clauses. The court held that registration under Section 12A of the Income Tax Act, 1961 is a preliminary step and does not require the trust to have exclusively charitable objects; incidental commercial activity does not bar registration.

3 Jul 2015

The respondent, Sri Gururaja Seva Samithi, applied for registration as a religious trust under Section 12A of the Income Tax Act, 1961 on 02.04.2008. ...

High Court

Bombay High Court Allows Revenue's Appeal in Upfront Appraisal Fee Taxability Case. Upfront appraisal fee charged by a non-resident statutory company for evaluating loan applications is held to be taxable as income under the Income Tax Act, 1961, as it is not a reimbursement of expenses but a fee for services rendered.

9 Jul 2012

The case involves an appeal by the Director of Income Tax (International Taxation) against an order of the Income Tax Appellate Tribunal (ITAT) dated ...

High Court

Bombay High Court Allows Revenue's Appeal in Income Tax Case - Holding Period for Long-Term Capital Gains Determined by Section 2(42A) Explanation 1. Indexation Benefit Requires Asset Held for More Than 36 Months; Inherited Property's Holding Period Includes Previous Owner's Period.

5 Jul 2012

The case involves an appeal by the Commissioner of Income Tax against an order of the Income Tax Appellate Tribunal (ITAT) regarding the computation o...

High Court

Bombay High Court Upholds Deduction Under Section 80P for Co-operative Bank's Interest Income from Advance Rent. Interest on advance rent paid for business premises is closely connected to banking business and eligible for deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961.

21 Jul 2011

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which upheld the decision ...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Contract for Manufacture of Pharmaceutical Products Held to be Sale, Not Works Contract Under Section 194C of Income Tax Act, 1961. The court upheld the ITAT's decision that the agreement between the assessee and the manufacturer was a contract for sale of goods, as property passed only on delivery and the agreement was on a principal-to-principal basis.

12 Mar 2010

The appeal by the Revenue under Section 260A of the Income Tax Act, 1961 challenged the order of the Income Tax Appellate Tribunal (ITAT) which held t...

High Court

Bombay High Court Dismisses Revenue's Application in Co-operative Bank Deduction Case — Interest on Government Securities Earmarked Against Statutory Reserve Fund Held Eligible for Deduction Under Section 80P(2)(a)(i) of Income Tax Act, 1961. The court found no question of law arose as the ITAT's decision followed the Supreme Court's ruling in Madhya Pradesh Co-op. Bank Ltd. v. Addl. CIT.

16 Aug 2005

The Commissioner of Income Tax, Mumbai City III, filed an application under section 256(2) of the Income Tax Act, 1961, against the Maharashtra State ...

High Court

Bombay High Court Allows Appeal in Income Tax Case — HDPE Powder Found During Search Held Part of Recorded Stock, Not Unexplained Investment Under Section 69. Goods recorded in books of accounts as purchases and closing stock cannot be treated as unexplained investment under Section 69 of Income Tax Act, 1961.

17 Jan 2005

The appellant-assessee, Babulal C. Borana, a dealer in HDPE plastic powder, filed an appeal under section 260A of the Income Tax Act, 1961 against the...

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