IFCI LTD. vs. ADDL. CIT, CIRCLE-11(1),,

In the result ITA number 2205/Del/2005 filed by the learned assessing officer is dismissed

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

section 139(5). Return filed u/s 139 (3) if in accordance with the other provisions of the filing of the loss return for the provisions of the act shall apply to that return as if it were return under subsection (1) of the act. The learned Commissioner of income tax Appeals by considering the above claim of the assessee

DCIT, CIRCLE-II(I) vs. I.F.C.I. LTD.,,

In the result ITA number 2205/Del/2005 filed by the learned assessing officer is dismissed

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

section 139(5). Return filed u/s 139 (3) if in accordance with the other provisions of the filing of the loss return for the provisions of the act shall apply to that return as if it were return under subsection (1) of the act. The learned Commissioner of income tax Appeals by considering the above claim of the assessee

ARVIND KUMAR AGARWAL,DELHI vs. ITO,WARD-18(1), DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

139(1) of the I.T. Act to be eligible for the benefit of section 10AA of the I.T. Act. Sub-section (8) of section 10AA of the I.T. Act reads as follows:- “(8) The provisions of sub-sections (5)62 and (6) of section 10A shall apply to the articles or things or services referred to in sub-section (1

DCIT CENTRAL CIRCLE-17, NEW DELHI vs. AL AMMAR FROZEN FOODS EXPORTS PVT. LTD, NEW DELHI

In the result, appeal of the Revenue is dismissed and cross\nobjection filed by the assessee is dismissed as infructuous

depreciation. It is\npertinent to note that the aforementioned revised returns were\nfiled within the extended timeline provided by CBDT Circular dated\n30.09.2020, which allowed filing of revised returns for AY 2019-20\nup to 30.11.2020 under Section 139(5) of the Act.\n\n3.\nOn 26.11.2020, the CPC issued an intimation under Section\n143(1

DHARAMVIR KHOSLA ,. vs. DCIT CC-5, NEW DELHI , .

The appeals are allowed for statistical purposes and ld

depreciation chart at page 11 alongwith the audited\naccounts but the AO ignored this fact and simply followed intimation u/s\n143(1) of the Act.\n5.1 Ground No.3 relates to TDS claimed by Assessee amounting to Rs.\n32,72,686/- as against TDS allowed in the computation at Rs.24,37,186/-.\nThus, here again AO did not apply

COMMISSIONER OF INCOME TAX vs. GOVIND NAGAR SUGAR LIMITED

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

1) read with Section 139(3) of the Income Tax Act? (b) Whether ITAT was correct in law in holding that the provisions of Section 80 of the Income Tax Act do not apply to unabsorbed depreciation

PR. COMMISSIONER OF INCOME TAX-19 vs. SHRI ANKUR AGGARWAL

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE NAJMI WAZIRI

139(1). 14. The Supreme Court held, in Shri T. Ashok Pai v. Commissioner of Income Tax, Bangalore (2007) 7 SCC 162, that penalty under Section 271(1)(c) is not to be mandatorily imposed. In other words, the levy of penalty under this provision is not automatic. This view has been reiterated in Union of India v. Rajasthan Spinning

PR. COMMISSIONER OF INCOME TAX-19 vs. SHRI ANKUR AGGARWAL

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE NAJMI WAZIRI

139(1). 14. The Supreme Court held, in Shri T. Ashok Pai v. Commissioner of Income Tax, Bangalore (2007) 7 SCC 162, that penalty under Section 271(1)(c) is not to be mandatorily imposed. In other words, the levy of penalty under this provision is not automatic. This view has been reiterated in Union of India v. Rajasthan Spinning

PR. COMMISSIONER OF INCOME TAX-19 vs. SHRI NEERAJ JINDAL

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE NAJMI WAZIRI

139(1). 14. The Supreme Court held, in Shri T. Ashok Pai v. Commissioner of Income Tax, Bangalore (2007) 7 SCC 162, that penalty under Section 271(1)(c) is not to be mandatorily imposed. In other words, the levy of penalty under this provision is not automatic. This view has been reiterated in Union of India v. Rajasthan Spinning

COMMISSIONER OF INCOME TAX DELHI I vs. CONTINENTAL PACKAGING P.LTD.

The appeals are dismissed

depreciation. The rate of minimum tax was kept at a modest figure deeming 30 per cent of book profits as total income. This modest amount is likely to go down further with the downward revision of corporate tax rate to 35 per cent and abolition of surcharge. xxxx xxxx xxxx xxxx 45.4 The Act also inserts a new section 115JAA

COMMISSIONER OF INCOME TAX vs. BRIJBASI ART PRESS LIMITED

The appeals are dismissed

depreciation. The rate of minimum tax was kept at a modest figure deeming 30 per cent of book profits as total income. This modest amount is likely to go down further with the downward revision of corporate tax rate to 35 per cent and abolition of surcharge. xxxx xxxx xxxx xxxx 45.4 The Act also inserts a new section 115JAA

COMMISSIONER OF INCOME TAX vs. BIOSEED RESEARCH (INDIA) PVT. LIMITED

The appeals are dismissed

depreciation. The rate of minimum tax was kept at a modest figure deeming 30 per cent of book profits as total income. This modest amount is likely to go down further with the downward revision of corporate tax rate to 35 per cent and abolition of surcharge. xxxx xxxx xxxx xxxx 45.4 The Act also inserts a new section 115JAA

COMMISSIONER OF INCOME TAX DELHI-1 vs. ALLIED STRIPS LTD

The appeals are dismissed

depreciation. The rate of minimum tax was kept at a modest figure deeming 30 per cent of book profits as total income. This modest amount is likely to go down further with the downward revision of corporate tax rate to 35 per cent and abolition of surcharge. xxxx xxxx xxxx xxxx 45.4 The Act also inserts a new section 115JAA

C.I.T vs. INDIAN SUGAR EXIM CORPORATION LTD

The appeals are dismissed

depreciation. The rate of minimum tax was kept at a modest figure deeming 30 per cent of book profits as total income. This modest amount is likely to go down further with the downward revision of corporate tax rate to 35 per cent and abolition of surcharge. xxxx xxxx xxxx xxxx 45.4 The Act also inserts a new section 115JAA

COMMISSIONER OF INCOME TAX vs. NEHRU PLACE HOTELS LTD.

The appeals are dismissed

depreciation. The rate of minimum tax was kept at a modest figure deeming 30 per cent of book profits as total income. This modest amount is likely to go down further with the downward revision of corporate tax rate to 35 per cent and abolition of surcharge. xxxx xxxx xxxx xxxx 45.4 The Act also inserts a new section 115JAA

COMMISSIONER OF INCOME TAX DEL vs. M/S JINDAL EXPORTS LTD.

The appeals are dismissed

depreciation. The rate of minimum tax was kept at a modest figure deeming 30 per cent of book profits as total income. This modest amount is likely to go down further with the downward revision of corporate tax rate to 35 per cent and abolition of surcharge. xxxx xxxx xxxx xxxx 45.4 The Act also inserts a new section 115JAA

COMMISSIONER OF INCOME TAX DELHI II vs. LEROY SOMER & CONTROLS INDIA P.LTD.

The appeals are dismissed

depreciation. The rate of minimum tax was kept at a modest figure deeming 30 per cent of book profits as total income. This modest amount is likely to go down further with the downward revision of corporate tax rate to 35 per cent and abolition of surcharge. xxxx xxxx xxxx xxxx 45.4 The Act also inserts a new section 115JAA

CIT vs. OCL INDIA LTD

The appeals are dismissed

depreciation. The rate of minimum tax was kept at a modest figure deeming 30 per cent of book profits as total income. This modest amount is likely to go down further with the downward revision of corporate tax rate to 35 per cent and abolition of surcharge. xxxx xxxx xxxx xxxx 45.4 The Act also inserts a new section 115JAA

THE COMMISSIONR OF INCOME TAX vs. NIS SPARTA LTD

The appeals are dismissed

depreciation. The rate of minimum tax was kept at a modest figure deeming 30 per cent of book profits as total income. This modest amount is likely to go down further with the downward revision of corporate tax rate to 35 per cent and abolition of surcharge. xxxx xxxx xxxx xxxx 45.4 The Act also inserts a new section 115JAA