CIT vs Advance Detergents Ltd. and Bharat Rasayan Ltd.
Profits of business: Income from exports-Gross or net interest-The interest received was not to be reduced by interest paid for computing profits of business under s.80HHC.
Explanation (baa) S.80HHC of t [LexDoc Id : 384709]
Pioneer Overseas Corpn. vs ADIT and DDIT
Agricultural Income-Production and sale of Parent Seeds/ Hybrid Seeds -AY 1998-99
The assessee was a non-resident company. It had a branch office in India which was engaged in production and sale of different varieties o [LexDoc Id : 380946]
Jagjit Pal Singh Anand vs CIT
Unexplained investment-Undervaluation of imported goods-The CEGAT (Tribunal) had found that the goods imported by the assessee were undervalued by a sum of Rs. 10 lakhs. Thus there was unexplained investmen [LexDoc Id : 379720]
DDIT vs Star Cruises India Travels Services (P) Ltd.
Income received or deemed to be received in India by non-resident-Business connection-Cruise Operations in International waters, Shipping business v. Cruise operations, Shipping business v. Sale of cruise tickets, Business connection- for travel abroad-AY 2003-2004 and 2005-2006. The assessee was providing travelling tour related services. A non-resident company 'SCML' was operating cruises in intern [LexDoc Id : 379175]
ITAT (Mumbai)
2009
Madras Cricket Club vs ITO
Principal of mutuality-Interest on FDR's-A.Y.2002-2003. The assessee was social club providing facilities for sports and games and club house facilities to its members. It income from interes [LexDoc Id : 378883]
Gharda Chemicals Ltd. vs DCIT
Determination of Arms Length Price ALP-CUP Method vs Internal CUP Method-AY 2002-03.
The assessee had exported goods to its Associated Enterprise (A.E.) in USA. It determined ALP or CUP Method. It had sold the same product [LexDoc Id : 378432]
ITAT (Mumbai)
2009
CIT vs Coimbatore Lakshmi Inv and Finance Co. Ltd.
Accrual of income-Interest on NPAs- [Non-performing assets.]-AY 1995-1996, 1997-1998 to 2000-2001. The interest on NPAs not recognized as per notification of RBI. The said interest did not accrue even under merc [LexDoc Id : 378238]
HC (Chennai)
2009
CIT vs Ample Properties Ltd.
Penalty : Concealment of income-Surrendered to buy place-A.Y.1990-1991 to 1996-1997. The assessee surendered certain amount to buy place. There was no finding of concealment. No penalty culd be levied
S [LexDoc Id : 378127]
