M/s.CCL Products [India] Limited vs. The Commissioner of Income Tax-I

Section 263 of the Act was valid as the assessment order passed was erroneous and prejudicial to the interest of the revenue? 8. The Tribunal had accepted that there was no unexplained income on account of either sales or purchases. The addition was sought to be made by the Income Tax Department on the basis of statement made by Shri

The Commissioner of Income Tax -V, vs. M/S Secunderabad Club

Bench: V.V.S.RAO,RAMESH RANGANATHAN

depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year): Provided that where an assessment under sub-section (3) of section 148 or this section has been made for the relevant assessment year, no action shall

Commissioner of Income Tax (TDS) vs. M/s. Yashoda Super Speciality Hospital

In the result, the appeal fails

depreciation of Assessment Years 1988-89 and 1989-90 amounting Rs.72,02,83,028/-, the income was determined to be ‘NIL’. The Commissioner in exercise of powers under Section 263

M/s. CCL Products (India) Ltd., vs. The Commissioner of Income Tax -1

In the result, the appeals are dismissed

depreciation against the total income for computing deduction u/s.10A of the Act, was contrary to the provisions of section 10A and hence the order of assessment was erroneous and prejudicial to the interest of the revenue and hence invoking of section 263

Commissioner of IncomeTax-II, vs. M/S RK Hair Products Pvt Limited,

In the result, the appeals are dismissed

depreciation against the total income for computing deduction u/s.10A of the Act, was contrary to the provisions of section 10A and hence the order of assessment was erroneous and prejudicial to the interest of the revenue and hence invoking of section 263

M/s.V.R.Farms Pvt Ltd vs. Deputy Commissioner of Income Tax

The appeals are dismissed

Bench: P.SAM KOSHY,SUDDALA CHALAPATHI RAO

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

M/SVISWARUPA BUILDERS AND DEVELOPERS P LTD/. vs. INCOME TAX OFFICER,WARD/3(I) HYDERABAD

Bench: C.V.NAGARJUNA REDDY,T.AMARNATH GOUD

Section 148 of the Income Tax Act, 1961 (for short, “the Act”), the assessee has filed returns disclosing “nil” income, claiming the rental income and maintenance charges as “income from business source”. The assessee has claimed the expenditure and depreciation on building, and maintenance. The Assessing Officer (AO), on consideration of the accounts and the legal position, treated the rental

The Commissioner of income Tax-II vs. M/s.Ideal Industrial Explosives Ltd

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

depreciation on the reduction that has been occasioned in the market value, which is the loss suffered by the assessee. However, in the subsequent year, if the market value exceeds the cost price and the same reaches Rs.105/-, the question is as to what is the addition to be made. Then, what is to be adopted is the cost price