3 June 2019
INCOME TAX APPELLATE TRIBUNAL, JAIPUR M/S BALAJI HEALTH CARE PVT. LTD., VS ITO 30-01-2019 ITA No. 566 & 567/JP/2018 These are two appeals filed by the assessee against the respective orders of ld. CIT(A), Jodhpur (Camp at Jaipur) dated 16.03.2018 for the Assessment Year 2006-07 and dated 19.03.2018 for the assessment year 2007-08 respectively. 2. In ITA No. 566/JP/2018, the assessee has taken the following grounds of appeal:- “1.1 The impugned order u/s 147/143(3) dated 18.02.2014 is bad in law...
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BOMBAY HIGH COURT KALSHA BUILDERS PVT. LTD. VS ACIT 08-02-2019 ITA NO. 6126/MUM/2016 The captioned appeal by the assessee is directed against the order of CIT(A)-24, Mumbai dated 29.07.2016, pertaining to the Assessment Year 2009-10, which in turn has arisen from the order dated 27.03.2015 passed by the Assessing Officer, Mumbai under section 143(3) r.w.s. 147 of the Income Tax Act, 1961 (in short 'the Act'). 2. In this appeal, the assessee has raised the following Ground of appeal:- M/s. Kalsha...
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BOMBAY HIGH COURT PRECILION HOLDINGS LIMITED VS. DCIT 09-03-2019 W P NO. 3342 OF 2018 1. The petitioner has challenged a notice of reopening of assessment dated 3.4.2018. 2. Brief facts are as under:- 2.1 Petitioner is a company incorporated in Cyprus enjoying tax residency certificate issued by the Cyprus Authorities. Petitioner’s principal activity is to act as an investment holding company. During the assessment year 2011-12, the petitioner had made investment in Compulsory Convertible 1 of 1...
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BOMBAY HIGH COURT RUPA SHYAMSUNDAR DHUMATKAR VS. ACIT 20-04-2019 W P NO.404 OF 2019 CORAM : AKIL KURESHI & SARANG V. KOTWAL, JJ. P. C. : 1. Heard learned Counsel for the parties for final disposal of the Petition. This Petition is filed by the widow of Late Shri Shyamsundar Pundalik Dhumatkar. Late Shri Shyamsundar Dhumatkar was engaged in his individual business. He filed return of his income till the year 2007-2008. According to Petitioner, however, since thereafter he had no taxable income, h...
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BOMBAY HIGH COURT RAJBHUSHAN OMPRAKASH DIXIT VS. DCIT 20-04-2019 W P NO.3546 OF 2018 The Petitioner, an individual, has challenged a notice dated 02/05/2017 issued by the Respondent Deputy Commissioner of Income Tax. Brief facts are as under : The Petitioner, at the relevant time, was working as an independent Director of one M/s. Toporder Properties Pvt. Ltd. which was one of the Sterling Biotech Ltd. group companies. The said group of entities, including the Petitioner, was subjected to search...
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INCOME TAX APPELLATE TRIBUNAL - MUMBAI HEMANT MANSUKHLAL PANDYA, MUMBAI VS DCIT (IT) 3(3)(2), MUMBAI 16 NOVEMBER, 2018 I.T.A No.4679/Mum/2016 (Assessment year: 2006-07) & I.T.A No.4680/Mum/2016 (Assessment year: 2007-08) These two appeals filed by the revenue and cross objections filed by the assessee are directed against separate, but identical orders of CIT(A)-56, Mumbai dated 21-03-2016 for the assessment years 2006-07 & 2007-08. Since facts are identical and issues are common, for the sake o...
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INCOME TAX APPELLATE TRIBUNAL - MUMBAI DCIT 1(3)(2), MUMBAI VS VARSITY EDUCATION MANAGEMENT 24 OCTOBER, 2018 I.T.A. No. 6991/Mum/2016 The assessee has filed this appeal challenging the order dated 29-09- 2016 passed by Ld CIT(A)-3, Mumbai and it relates to the assessment year 2012-13. The assessee is aggrieved by the decision of Ld CIT(A) in confirming the addition of Rs.60.24 crores relating to excess share premium made by AO u/s 68 of the Act. The grounds of appeal urged by the revenue read as...
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DELHI HIGH COURT COMMISSIONER OF INCOME TAX VS M/S. JRD STOCK BROKERS PVT. LTD. 12.09.2018 ITA 544/2005 1. The question of law, framed in this appeal by the revenue - under Section 260A of the Income Tax Act, 1961 ("the Act" hereafter) is: "Whether the order passed by the ITAT to the extent the same deletes the additions made by the assessing officer suffers from perversity?" 2. The facts necessary to decide the case are that the assessee, a Chartered Accountant was also a member of Delhi Stock...
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CALCUTTA HIGH COURT PCIT VS M/S. BLB CABLES AND CONDUCTORS PVT. LTD. 19-06-2018 ITAT No.78 of 2017 The Court :-The main point on which the Revenue presses this appeal is whether speculation loss arising from commodity trading to the Assessee in off market transactions would be added to its income or not for the assessment year 2009-10. The sum involved in such speculation loss is Rs.2,26,96,157/-. The Assessing Officer found claim for deduction under that head impermissible. He held :- “From the...
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INCOME TAX APPELLATE TRIBUNAL, HYDERABAD BHARATHI CEMENT CORPORATION PVT. LTD. VS ACIT 10-08-2018 ITA Nos. 696 & 697/Hyd/2014 Both these appeals filed by the assessee are directed against the orders, both, dated 25/02/2014 of CIT(A) – III, Hyderabad for AYs 2009-10 & 2010-11. 2. Briefly the facts as taken from AY 2009 -10 are, assessee is a company engaged in the business of manufacture and sale of cement under the name Bharathi Cement. It filed its return of income f or the AY 2009-10 on 30/09/...
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