Cit vs aggarwal engg co. 302 itr 246 p&h hc

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August undefined, 2024

WebJan 10, 2024 · The Honble Gujrat High Court in the case of CIT vs. President Industries (2002) 258 ITR 654 (Guj.) held as under : “In the course of survey conducted in the … WebMay 18, 2024 · CIT (123 ITR 907) (All)] 1.2 Penalty for concealment cannot be levied, where the assessee was not even asked to justify his claim and penalty was levied on the basis of presumption the assessee’s intention was to evade tax. [Rupam Mercantiles Ltd. Vs. Dy. CIT (91 ITD 237) (Ahd.) 2.

Sanjeev Walia v. Cit Income Tax Appellate Tribunal Judgment

WebJan 6, 2012 · Citation: 2012-LL-0106-20: Appellant Name: The Income Tax Officer-Ward-1: Respondent Name: M/s. Vrajleela Assciates: Court: ITAT-Ahmedabad : Relevant Act: Income-tax WebAkkal Dudhwewala, A.R for the Appellant. Arup Chatterjee, Addl. CIT for the Respondent. gay advertising network

There is nothing in law which prevents the A.O. in an appropriate …

WebJun 30, 2016 · (i) Source of deposit, or of cash inflow, is explained through gross profit additions. [refer- CIT v.Aggarwal Engg. Co. (Jal.) [2008] 302 ITR 246/156 Taxman 40 (Punj.& Har.)] (ii)Investment in later years is explained by intangible additions of earlier years, unless it is proved by the Revenue that such additions were not available for … WebCIT (2006) 287 ITR 209) Assessing Authority has no power to entertain a claim made by assessee otherwise than by filing a revised return (Goetze (India) Ltd. v. CIT (2006) 284 … WebJun 23, 2013 · CIT [2000] 243 ITR 83 (SC) This decision of the SC has been followed by the Bombay, Delhi, Madras, Punjab & Haryana, Gujarat High Courts and a number of Tribunals in the country. In one case, where the view of the Assessing Officer had also been expressed by the Special Bench of the Tribunal, revision under Section 263 was held to … day metal products

Engineering Analysis Centre Of Excellence P. Ltd. v. CIT (2024) 432 ITR ...

Cit vs aggarwal engg co. 302 itr 246 p&h hc

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WebFrom a perusal of the tradingaccount it is revealed that assessee has shown total sales for a sum of Rs.4, 76,78,990/- and closing stock of Rs.71,93,896/- and Gross profit to the … WebSep 10, 2024 · Section 263 of the Income-tax Act, 1961 (‘the Act’) provides revisional power to Principal Commissioner (‘Pr. CIT’) or Commissioner (‘CIT’) if he is of the opinion that an order passed by the AO is erroneous and prejudicial to the interests of the revenue.

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WebJaipur – 302 018. Tel: +91 141 - 7103224 Tel Kochi Syama Business Centre, 3rd Floor, NH By Pass Road, Vytilla, Kochi – 682 019. Tel: +91 484 302 5600 Kolkata Unit No. 604, 6th Floor, Tower – 1, Godrej Waterside, Sector – V, Salt Lake, Kolkata – Sai Odyssey,700 091. Tel: +91 33 4403 4000 Mumbai 1st Floor, Lodha Excelus, Apollo Mills, Webwould be bad in law.—Manu engg. Works 122 ITR 306 (Guj), New Sorathia Engg. Co 282 ITR, 642 (Guj), Padma Ram Bharali 110 ITR 54 (Gau). Thus, basis of satisfaction can not be altered subsequently by IAC.—CIT-v-Kejriwal Iron Stores 168 ITR 715 (Raj). Even penalty can not be levied for different item—CIT-V- C.K.Nehra & Bros 117 ITR 19 Cal.

WebMay 30, 2013 · Aggarwal Engineering Co.; 302 ITR 246(P&H), where it was observed that once the net profit rate was applied, no further addition was called for in respect of purchase and introduction of cash. (c) CIT v. Purshottam Lal Tamrakar; 270 ITR 314; (d) CIT v. Banwari Lal Banshidhar; 229 ITR 229 (All); and WebMay 14, 2024 · The Court observed that penalty proceedings Assessee has offered explanation and caused to produce affidavits and record statements of the concerned unregistered dealers and establish their credentials .That explanation has been accepted by the CIT (A) vide order dated 13-01-2011.

Web11. Expenses on VRS are allowable in year of payment (CIT vs. Bhor Industries Ltd. (264 ITR 180 (Born) (Also refer to section 35DDA inserted by Finance Act, 1999 w.e.f. 1-4-2000). 12. The word “sum” in section 40A (3) refers to single payment – CIT vs. Kothari Sanitation and Tiles P. Ltd. (282 ITR 117 (Mad). 13. WebJan 11, 2024 · The A.O may proceed under Section 145(3) under any of the following circumstances:

WebJul 7, 2024 · The Central Processing Centre (CPC) has only considered the item in lieu of ‘NIL’ and has not considered the exemption under Section 10 (23C) (iiib) or deduction under Section 80P, for which it was eligible. However, AO rejected claim of assessee. On appeal. The CIT (A) and futher, the ITAT allowed assessee’s claim.

http://www.in.kpmg.com/TaxFlashNews-INT/KPMG-Flash-News-Celerity-Powers-LLP-1.pdf day met credit union wagner ford roadWebMar 7, 2024 · The Hon’ble Supreme Court on 2 nd March 2024 in the case of Engineering Analysis Centre of Excellence Private Limited Vs CIT, put a rest to the contentious issue of tax on Payment by end users or tech companies in India to suppliers abroad on import of software as ‘ Royalty’. daymet reanalysisWebThe Hon’ble Supreme Court in the case of Tin Box Co. v. CIT (2001) 249 ITR 216 (SC) had observed that the Court held that the failure to observe the principles of natural justice cannot be made good in appeal. Lack of opportunity before the Assessing officer cannot be rectified by the appellate authority by giving such opportunity. 4.2. gaya evening collegeWebOn appeals the Court observed that four categories of cases : (a) cases in which computer software was purchased directly by an end-user, resident in India, from a foreign, non-resident supplier or manufacturer ; (b) cases where resident Indian companies were distributors or resellers, purchasing computer software from foreign, non-resident … daymet credit union home bankingWebAggarwal Engg. Co. (2008) 302 ITR 246 (P & H). 6. the CIT(A) regarding estimation of the net profit at 8%. The ITAT has, in fact, upheld the order of the CIT(A). If that is indeed the position, the question of adding the further sum as unexplained credit was not sustainable particularly in view of the decision of the Punjab & Haryana High Court in day meteorologyWebness man’s prudent man’s angle view, then that cannot be brushed aside by the AO, without disproving the explanation facts or by giving cogent reasons. Statement of bank accounts of assessee (3 bank accounts) it is noted that assessee has deposited in his three bank account (pre demone daymet credit union wagoner ford rdWebMar 23, 2024 · The assessee did not challenge the rejection of the books of account under section 145(3) and the addition made by Ld. CIT(A) above to the profit of the assessee. The Ld. CIT(A) forgot to consider that if he wanted to make addition on account of peak credit on account of M/s. Hanuman Traders, whether theory of peak credit would apply in the ... gaya education