Harish Kawadmal Bajaj vs ITO
Cash credits-Confirmation from creditors-A.Y. 2006-07.
The assessee had shown loans from 27 persons. The assessee produced 5 creditors who confirmed the loans before the A.O. No addition [LexDoc Id : 441602]
Hoganas India (P) Ltd. vs DCIT
ALP-Commission on: Direct Sales by Parent Co.-A.Y. 2006-07.
The assessee was manufacturing distributing and selling iron and ferrous powders in India. It imported iron powder and provided mar [LexDoc Id : 441462]
Madhu Gupta vs DIT and Ors.
Validity of: Search-Existence of tangible material for the BELIEF u/s 132 (1)-The information was that there was likelihood of documents belonging to group being found at assessee's premises.
It was not a solid information [LexDoc Id : 438655]
Huber + Suhner Electronics (P) Ltd. vs DCIT
Business expenditure-Liquidated damages paid - Delayed supply of goods-A.Y. 2007-08.
The assessee had to pay liquidated damages at certain rate for delay on its part in supply of goods. The amount paid was business e [LexDoc Id : 437179]
ITAT (Delhi)
2013
Export Credit Guarantee Corporation of India Ltd. vs Addl. CIT and Ors.
Validity of: Re-assessment - Notice within 4 years-Change in Accounting Policy - Non-application of mind - Tangible material-A.Y. 2006-07.
The tangible material to base a belief u/s 147 is that which is not illusory, hypothetical or a matter of conjecture, it need not b [LexDoc Id : 436926]
HC (Bombay)
2013
CIT vs Kamal Wahal
Exemption: Capital gains-Purchase of new house in wife's name-A.Y. 2005-09.
The new residential house was purchased in wife's name. The entire investment came from sale proceeds of assessee's capital asset. [LexDoc Id : 436780]
Savy L. Purayidam vs Agricultural Income Tax and CTO and Ors.
Validity of: Recovery proceedings-Time barred assessment-A.Y. 1988-89.
The amended assessment order was passed beyond limitation period. The consequence recovery of tax was invalid.
Ss. 35(2), 57 K [LexDoc Id : 457339]
S.M. Haq vs CIT
Business expenditure-Commission paid to partner's Son-A.Y. 1977-78.
Certain commission was paid to son of a partner for supervision of production on the ground that he was expert on mixing tobacco. H [LexDoc Id : 452638]
HC (Allahabad)
2013
Uttam Modern Rice and Oil Mill vs UOI and Ors.
Limitation for passing order u/s 264-Limitation u/s 264 (6) - Directory-A.Y. 2003-04.
S. 264(6) provides that the revision petition filed shall be decided within one year from the end of the F.Y. in which the petition [LexDoc Id : 452315]
Zafa Ahmad and Co. vs CIT
Cash credit-Source of a Source-Credits in partner's capital account-A.Y. 1992-93.
The assessee was a partnership firm. The credits appearing in partner's capital account were explained by partner as on account of [LexDoc Id : 443023]
