Leave Encashment Deduction on Payment basis u/s 43B is constitutional valid : SC SUPREME COURT OF INDIA Union of India v. Exide Industries Ltd. A. M. KHANWILKAR, HEMANT GUPTA AND DINESH MAHESHWARI, JJ. CIVIL APPEAL NO. 3545 OF 2009 APRIL 24, 2020 JUDGMENT A.M. Khanwilkar. J. – In this appeal, the constitutional validity of clause (f) of Section 43B… Read More »
Wyzmindz Solutions Pvt. Ltd. Vs ITO (ITAT Bangalore) ITA No. 3417/Bang/2018 30/01/2020 2014-2015 FULL TEXT OF THE ITAT JUDGEMENT This appeal filed by the assessee is directed against the order of the CIT(A), dated 25.10.2018. The relevant assessment year is 2014-2015. 2. This is the second round of this appeal before the Tribunal. In the… Read More »
SDCE Projects (P) Ltd. Vs DCIT (ITAT Ahmedabad) ITA No. 2556/AHD/2017 01/10/2019 FULL TEXT OF THE ITAT JUDGEMENT The captioned appeal has been filed at the instance of the Assessee against the order of the Learned Commissioner of Income Tax (Appeals)-2, Vadodara dated 10/08/2017 (in short “Ld. CIT(A)”) arising in the matter of assessment order… Read More »
Deduction of Expenses of Payment to Indian Railways Key points of Deduction of Expenses of Payment to Indian Railways Any payment made to Indian Railways for the use of railway assets made on or after 1-4-2016 would be allowable only on actual payment, irrespective of the year in which the liability is incurred; and, where the… Read More »
IN THE ITAT BANGALORE BENCH ‘C’ Elite Enterprises v. Income-tax Officer, Ward 1, Puttur VIJAY PAL RAO, JUDICIAL MEMBER AND INTURI RAMA RAO, ACCOUNTANT MEMBER IT APPEAL NO. 1738 (BANG.) OF 2013 [ASSESSMENT YEAR 2007-08] AUGUST 26, 2016 Balram R. Rao, Adv. for the Appellant. Sunil Kumar Agarwal, JCIT (DR) for the Respondent. ORDER Vijay… Read More »
Held The only issue to be resolved is whether the assessee would be entitled to claim deduction for the employees’ contribution made to PF after the due date prescribed under the PF Act, but before the due date prescribed for filing of income-tax return in the light of the provisions contained in section 36(1)(va) of… Read More »
HIGH COURT OF PATNA Bihar State Warehousing Corporation Ltd. v. Commissioner of Income-tax 1, Patna HEMANT GUPTA AND RAMESH KUMAR DATTA, JJ. MISC. APPEAL NO. 302 OF 2008 JULY 19, 2016 Ajay Kumar Rastogi for the Appellant. Mrs. Archana Sinha, Alok Kumar and Mrs. Shalini Bihari for the Respondent. JUDGMENT Ramesh Kumar Datta, J.–… Read More »
Where import contract stated that after purchase liability in respect of customs duty, excise duty, penalty, sales tax, etc., would be paid by assessee, since liability, was contingent upon uncertain fact, deduction under section 43B was not permissible HIGH COURT OF DELHI Oswal Agro Mills Ltd. v. Commissioner of Income-tax S. RAVINDRA BHAT AND R.K. GAUBA,… Read More »