Thursday, March 3, 2011

ITR(Trib) Vol 8 Part 1 dated 07-03-2011

ITR'S TRIBUNAL TAX REPORTS (ITR (Trib)) HIGHLIGHTS

    ISSUE DATED 7-3-2011    Volume 8 Part 1

APPELLATE TRIBUNAL ORDERS

 

  --> Where assessee availing of services for movement of containers by use of cranes liable to TDS u/s. 194C : Asst. CIT (TDS) v. Merchant Shipping Services P. Ltd. (Mumbai) p. 1

 

  --> Non-resident : Remittance from foreign country through banking channels cannot be taxed u/s. 5(2)(b) : Smt. Susila Ramasamy v. Asst. CIT (Chennai) p. 18

 

  --> Where no evidence relating to specific expenditure to tax free dividend , deletion of addition proper : Asst. CIT v. Sun Investments P. Ltd. (Delhi) p. 33

 

  --> Where assessment barred by time in absence of satisfaction of AO, notice invalid : Dy. CIT v. Rano Singh (Delhi) p. 36

 

  --> Assessee incurred loss on share trading and quantum of loss not disputed, levy of penalty not justified : SRJ Securities Ltd v. ITO (Delhi) p. 41

 

  --> Net profit rate subject to depreciation and interest more than restricted trading addition to be deleted : Asst. CIT v. Prabhu Dayal Kanojiya (Jaipur) p. 45

 

  --> No separate addition required to be made in respect of bank FDRs and NSC interest income : Asst. CIT v. Prabhu Dayal Kanojiya (Jaipur) p. 45

 

  --> Where loss occuring on account of purchase of capital asset and placing security deposit, penalty not leviable : Microsoft Corporation (India) P. Ltd. v. Dy. CIT (Delhi) p. 58

 

  --> Expenditure on payment of tax was appropriation of income, penalty leviable u/s. 271(1)(c) : Microsoft Corporation (India) P. Ltd. v. Dy. CIT (Delhi) p. 58

 

  --> Change of ownership of unit is not a reconstruction, deduction allowable u/s. 10B : ITO v. Veto Electropowers (Jaipur) p. 76



--
>>>>>>>>>>>>>>>>>>>>>>
Dear Friend
Please and immedietly remove my email id from your contact list. As I do not want to receive any invitation from the various friend sites you subscribe.
Thanks and regards.

Me on net :  http://rajkumaratthenet.blogspot.com/
http://itronline.blogspot.com/
http://finance.groups.yahoo.com/group/It_law_reported

http://labs.google.co.in/smschannels/channel/rajkumarsms
--
Virus Warning: Although the I have taken reasonable precautions to ensure no viruses are present in his email, sender (I) cannot accept responsibility for any loss or damage arising from the use of this email or attachment."

No comments:

Post a Comment