The Commissioner of Income Tax-II vs. M/s.Pact Securities AND Financial Services Ltd

Bench: The Commissioner Of Income Tax (Appeals), The Assessees Had Called In Question The Orders Of Assessing Officer (For Short ‘The A.O.’), Who, While Completing The Assessment For The Relevant Assessment Years Disallowed The Deduction Of The “Lease Equalization” Charges From The Lease Rental Income. The Disallowed Amounts By The Cit (Appeals) In These Appeals Are Of Rs.48,56,224/-, Rs,44,18,245/- & Rs.13,16,123/-.

28-01-2000 along with the assessee’s appeal bearing ITA No.229/Hyd/2000. All these appeals pertain to the assessment years 1996-97 to 1999-2000. 2. Before the Commissioner of Income Tax (Appeals), the assessees had called in question the orders of Assessing Officer (for short ‘the A.O.’), who, while completing the assessment for the relevant assessment years disallowed

The Commissioner of income tax, vs. M/s.Y.Ramulu and Others

In the result, for the above reasons, we set aside the orders

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

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

COMMISSIONER OF INCOME TAX, vs. M/S G.R.K.PRASAD AND OTHERS

In the result, for the above reasons, we set aside the orders

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

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

The Commissioner of Income Tax-II vs. m/S.M.Ventakteswara Rao AND Others

In the result, for the above reasons, we set aside the orders

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

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

Commissioner of Income Tax, vs. M/s Y.Ramakrishna and Others

In the result, for the above reasons, we set aside the orders

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

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

Commissioner of Income Tax vs. Ms. B.krishna Murthy AND Others

In the result, for the above reasons, we set aside the orders

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

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

The Commissioner of Income Tax vs. M/s GRK Prasad AND others

In the result, for the above reasons, we set aside the orders

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

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

COMMR.OF I.T. RKAJAHMUNDRY vs. T.RAMI REDDY AND ORS

In the result, for the above reasons, we set aside the orders

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

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

Commissioner of Income Tax, Rajahmundry. vs. m/s Ganesh Arrack Contractors,

In the result, for the above reasons, we set aside the orders

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

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

The Commissioner of Income Tax vs. M/s.B.Satyanarayana AND Others

In the result, for the above reasons, we set aside the orders

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

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

COMMISSIONER OFINCOEMETAX vs. M/S. V.SATYANARAYANA AND OTHERS

In the result, for the above reasons, we set aside the orders

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

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

The commissioner of Income Tax vs. M/s.M.Narayana Choudary and Others

In the result, for the above reasons, we set aside the orders

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

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

The Commissioner of Income Tax vs. M/s.G.V.Krishna Reddy AND Others

In the result, for the above reasons, we set aside the orders

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

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

COMMISSISONER OF I.T. RAJAHMUNDRY vs. M/S.Y RAMAKRISHNA AND OTHERS

In the result, for the above reasons, we set aside the orders

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

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

The Commissioner of Income tax vs. M/s.V.Satyanrayana AND Others

In the result, for the above reasons, we set aside the orders

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

2) When best judgment assessment is undertaken it cannot be as per the whims and fancies of the assessing officer and it should base on some material either produced by the assessee or gathered by the Taxing Officer. If for any reason the material like books of accounts produced by the assessing is rejected as unreliable or unsatisfactory, there should

The Commissioner of Income Tax (Exemptions0 vs. Kalinga Cultural Trust

In the result, we do not find any

Bench: ANIS,SANJAY KUMAR

disallowed the assessee's claim for deduction under Section 10B of the Act. 5. The Assessing Officer inter alia held that assessee is entitled to deduction under Section 10B of the Act only after verification and the contention of the assessee that old machinery from FFIPL was transferred to it only in April 2007 does not deserve acceptance

Principal Commissioner of Income Tax-5 vs. M/s. VBC Industries Limited

In the result, we do not find any

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

disallowed the assessee's claim for deduction under Section 10B of the Act. 5. The Assessing Officer inter alia held that assessee is entitled to deduction under Section 10B of the Act only after verification and the contention of the assessee that old machinery from FFIPL was transferred to it only in April 2007 does not deserve acceptance

Commissioner of Income Tax-II vs. M/s.Kalyani Wines

In the result, I find this appeal bereft of merit and accordingly,

Bench: Hon’Ble Mr. Justice Robin Phukan

Section 34(2) of the Act, the learned District Judge has the power to set aside the award on the said ground, and exercise of such power cannot be said to be beyond jurisdiction. The Issue of Escalation of Price of Materials:- 24. The appellant, before the Arbitrator had made a claim of Rs. 28,92,193/- on account