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Search Results for "Export Profits"

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High Court

Madras High Court Allows Revenue's Appeal in Part on Replacement of Machinery and Depreciation Issues Under Income Tax Act, 1961. Expenditure on Replacement of Entire Machinery is Capital Expenditure; IFCI Adjustment Not Actual Payment Under Section 43AB; Full Depreciation on Dumpers Requires Evidence of Use.

22 Jan 2025

The appeal was filed by the Commissioner of Income Tax, Madurai, against the order of the Income Tax Appellate Tribunal, Madras 'C' Bench, dated 26.12...

Supreme Court

Supreme Court Dismisses Assessee in Income Tax Appeal Over TDS Disallowance. Disallowance of Rs. 57,11,625 upheld under Section 40(a)(ia) of Income Tax Act, 1961 as assessee failed to deduct tax at source on payments exceeding Rs. 20,000 per goods receipt to truck operators under Section 194C.

29 Jul 2020

The dispute arose from an income tax assessment for the year 2005-2006 involving Shree Choudhary Transport Company, a partnership firm engaged in tran...

Supreme Court

Supreme Court Reverses High Court in Section 80-IC Tax Exemption Case — Substantial Expansion Does Not Entitle Assessee to Reset 100% Deduction Period. The court held that the fixed exemption structure under Section 80-IC(3) cannot be altered by substantial expansion, and the total deduction period remains capped at ten years.

1 Feb 2019

The Supreme Court considered a batch of appeals arising from a common judgment of the Himachal Pradesh High Court concerning the interpretation of Sec...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Transfer Pricing Adjustment Case — Held that ITAT Correctly Deleted Addition for Non-Compete Fee Paid to AE Without Adequate Justification. The court found no substantial question of law as the Tribunal's findings were factual and not perverse.

14 Aug 2015

The Revenue (Commissioner of Income Tax and Assistant Commissioner of Income Tax) filed appeals under Section 260A of the Income Tax Act, 1961 against...

High Court

High Court of Karnataka Allows Revenue's Appeals in Part, Upholds Deduction Under Section 10A for Sub-Contracted Software Development Work. The court held that income from on-site work sub-contracted to an associated enterprise is eligible for deduction under Section 10A of the Income Tax Act, 1961, as the assessee derived income from export of computer software.

29 Jul 2015

The case involves appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging the order of the Income Tax Appellate Tribu...

High Court

Bombay High Court Allows Reference on Double Taxation Issue in Income Tax Case — Assessee Company Cannot Be Taxed Again on Income Already Assessed in Export Firm's Hands. The court considered whether income already assessed in the hands of an export firm could be taxed again in the hands of the assessee limited company, noting that the facts were not in dispute.

8 May 2015

The case involves an income tax reference by the Bombay High Court at Nagpur Bench. The assessee, R.B. Shreeram Durgaprasad (P) Limited, Tumsar, chall...

High Court

Bombay High Court Allows Revenue Appeal in CENVAT Credit Deduction Case Under Section 80HHC of Income Tax Act, 1961. CENVAT Credit Not Eligible for Deduction as It Is Not an Export Incentive Under Section 28(iiia)-(iiie).

13 Aug 2014

The Commissioner of Income Tax, Central-III, Mumbai, appealed against the order of the Income Tax Appellate Tribunal (ITAT) dated 29 July 2011, which ...

High Court

Bombay High Court Allows Appeal in Part on Additional Barge Freight Liability and Depreciation on Leased Trucks in Income Tax Case. The Court held that liability for additional barge freight accrued in subsequent year despite mercantile accounting, and remanded issues of depreciation on leased trucks and Section 80HHC deduction for fresh consideration.

18 Oct 2013

The appeal arises from a decision of the Income Tax Appellate Tribunal (ITAT) dated 02.01.2006 for Assessment Year 1997-98. The assessee, Damodar Mang...

High Court

Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Royalty Payment Held Allowable and Section 10B Deduction Properly Claimed. Tribunal's finding that royalty was genuine and in accordance with business exigencies upheld, and assessee's option for Section 10B by filing Form 56G and claiming in computation was valid.

7 Feb 2012

The appeal by the Revenue under Section 260A of the Income Tax Act, 1961, challenged the Income Tax Appellate Tribunal's order dated 22 September 2009...

High Court

High Court of Bombay at Goa Allows Tax Appeals of Assessee in Income Tax Matters — Disallowance of Expenditure on Technical Know-How and Interest on Delayed Payment of Sales Tax Set Aside. The court held that technical know-how fees for improvement of existing process is revenue expenditure and interest on delayed sales tax is compensatory, both allowable under Section 37(1) of the Income Tax Act, 1961.

30 Nov -0001

The judgment pertains to a batch of tax appeals filed by Goa Carbon Ltd. against orders of the Income Tax Appellate Tribunal (ITAT) for various assess...

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