DCIT Vs Asian Consolidated Industries Ltd
.... y way of estimation of Gross Profit has been duly acknowledged by the AO at Pg. 2 second Para of the Penalty Order dated 22.09.2016 wherein it has been mentioned that "I therefore apply average G.P. of the above two AYs i.e. AY 1995-96 and AY 1996-97 to arrive at a fair estimate of G.P. in ...
Income Tax Appellate Tribunal (Delhi A Bench)
DCIT Vs Asian Consolidated Industries Ltd.
.... 20,87,64,108/- levied by the AO u/s 271(1)(c) of the Act has been rightly deleted by CIT(A).” 5. I have considered the order u/s 271(1)(c) of the Act, the submission of the AR and the extant position of law in this regard. At the outset it is necessary to point out that the facts of the cas ...
Income Tax Appellate Tribunal (Delhi A Bench)
M/S. Apace Developers Pvt. Ltd. Vs PR.CIT-1
.... unsel that there is no dispute on the aggregate quantum of expenses under the heads (i) material cost of Rs.2,88,30,170/- and (ii) labour charges of Rs.48,86,855/-. The issue in dispute here is only with respect to the apportionment of these expenses [(i) material cost of Rs.2,88,30,170/-and (ii ...
Income Tax Appellate Tribunal (Delhi A Bench)
Interglobe Technology Quotient Private Limited Vs ACIT
.... on u/s 80G of the Act thereon, irrespective of the fact that it is made as part of CSR obligations. The assessee in the instant case had duly complied the provisions of Companies Act, 2013 read with CSR rules thereon and as per the provisions of the Income Tax Act had also voluntarily disallowed ...
Income Tax Appellate Tribunal (Delhi C Bench)
DCIT Vs Loop Telecom &Trading Limited
.... t of the executive having the power to determine the jurisdiction of a High Court. This can never be the intention of the Parliament. The jurisdiction of a High Court stands on its own footing by virtue of Section 260A read with Section 269 of the Act. While interpreting a judicial remedy, a Con ...
Income Tax Appellate Tribunal (Delhi E Bench)
Anil Kumar Aggarwal Vs ITO
.... ies which has come to surface as a result of deep and wide investigation. Initial purchase of shares of companies of unknown credentials at high rates and subsequent sale within a short span after drastic fall in the share price cannot be an accident or windfall but as has been clearly brought o ...
Income Tax Appellate Tribunal (Delhi A Bench)
Ajit Singh Vs ITO
.... tural justice must be followed. In such an event, although no express provision is laid down on this behalf, compliance with principles of natural justice would be implicit. If a statue contravenes the principles of natural justice, it may also be held ultra virus Article 14 of the Constitution. ...
Income Tax Appellate Tribunal (Delhi SMC Bench)
Ashwini Kumar Taneja Vs ITO
.... d. CIT(A) in sustaining the addition of Rs.65,00,000/- made by Ld. AO on account of unsecured loan u/s 68, is bad in law and against the facts and circumstances of the case. 3. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in not re ...
Income Tax Appellate Tribunal (Delhi A Bench)
Shipra Singh Rana Vs ACIT
.... keep the withdrawn cash for such a long gap and deposit the same in various times. Further no explanation for the purpose of cash withdrawals has been furnished by the Assessee and also no justification has been furnished as why would a person withdraw money from bank and keep it as cash in hand ...
Income Tax Appellate Tribunal (Delhi G Bench)
National Lubricating Grease Institute India Chapter Vs CIT
.... collect technical information with respect to. 1. New or improved methods of manufacturing LG. 2. New or improved equipments for manufacturing of LG. 3. New or improved containers for LG. 4. New or improved equipment for dispensing LG. 5. New or improved devices for ap ...
Income Tax Appellate Tribunal (Delhi E Bench)
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