Transocean Offshore Deepwater Drilling Inc. v. Addl. CIT

  Section 194I   Direct Taxes

Service tax paid by the tenant does not partake the nature of “income” of the landlord, since the landlord only acts as a collecting agency for Government for collection of Service Tax, therefore,…

ACIT v. Banwarilall Pasari

  Section 36(1)(iii)   Direct Taxes

From balance sheet of assessee filed along with return of income, it was abundantly clear that sufficient own funds in the form of partners’ capital were available with the assessee at the…

Pr. CIT v. Modern Threads (I) Ltd.

  Section 28(iv)   Direct Taxes

Where assessee had obtained a loan for capital investment and treated the same as capital liability in its accounts, then remission of the principal amount of the said loan would naturally go as…

S. Vijayalakshmi v. ITO

  Section 234B   Direct Taxes

Where original assessment order was subjected to revision under section 263, interest under section 234B would be charged till completion of assessment under section 143(3) read with section…

Pr. CIT v. Shanti Lal Jain

  Section 271(1)(c)   Direct Taxes

Imposition of penalty under section 271(1)(c) on the ground that instead of disclosing all the income in original return, assessee only disclosed impugned income pursuant to a search operation,…

Dy. CIT v. Kuantum Papers Ltd.

  Section 32(1)(ii)   Direct Taxes

Brand is an intangible asset eligible for depreciation under section 32 and since assessee had purchased user of brand name, for more than two years claim of depreciation was indeed admissible…

DCIT v. SIL Investment Ltd. & Vice-Versa

  Section 14A   Direct Taxes

As assessee had established nexus of interest expenses with its main activity of financing and there was not a single amount of interest bearing borrowings which could be related with investment…

Pr. CIT v. Choudhary Exports

  Section 260A   Direct Taxes

The appeal of revenue having the net tax effect below the monetary limit of Rs. 20 lakhs as specified in CBDT Circular No. 21, dated 10-12-2015, was disposed as withdrawn, however, the…

Macquarie Global Services (P) Ltd. v. Dy. CIT

  Section 10AA   Direct Taxes

Once claim of deduction under section 10AA had been accepted in first year of operations and also in second year, then in third year the same could not be withdrawn by examining the factors…

Satyavati Arvind Kotian v. ITO

  Section 54F   Direct Taxes

Since assessee had already paid an amount for booking of the flat and the remaining payment was made when the builder had got clearance from the competent authority, merely not keeping the…

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