Search Results Page
Search Results
1 - 5 of 5 (0.22 seconds)Radhasoami Satsang, Saomi Bagh,Agra vs Commissioner Of Income Tax on 15 November, 1991
In the said circumstances
your office should not have erred in estimating income at 10% of
W.I. P in the said circumstances, We most humbly request Your
Honour to pass an order u/s. 154 of the Income Tax Act, 1961 relying
on C.I.T. vs Bilhari investment (P) Ltd. (2008) 299 ITR 1 (SC) and
Radhasoami Satsang Vs. CIT 193 ITR 321(SC) Le. consistency of
system of accounting adopted in earlier years.
Commissioner Of Income Tax, Chennai vs M/S Bilahari Investment (P) Ltd on 27 February, 2008
In the said circumstances, We most humbly request
Your Honour to rectify the assessment u/s. 154 of the Income Tax
Act, 1961 relying on C.I.T. vs Bilhari Investment (P) Ltd. (2008).
Arm Infra & Utilities Private Limited, ... vs Pr.Commissioner Of Income Tax Range-6, ... on 12 November, 2021
06.02.2014 We most Humbly want's to draw Your Honour's kind
attention towards the fact that your office has inadvertently stated
that our company does not have any business activity, hence interest
of Rs. 50,96,138/- be not allowed. In fact our income has been
assessed as business income for the year at Rs. 3,50,35,867/- after
giving effect to your order dated 7th January. 2013. In addition vide
our letter dated 6th November, 2011 we had submitted that the
borrowed funds were utilized for the purpose of business and there
is no diversion of borrowed funds. In addition in statement of facts
it was submitted that current liabilities of Rs. 8,44,03,076/- was non-
interest bearing funds and same was used in business. Hence there
was no investment made for non business purpose. We had also
submitted our submission in statement of facts in clause 6 to the
appeal memo that interest payment to Bank of Maharashtra of Rs.
50,96,138/-be allowed by relying on judgement in case of Reliance
Utilities & Power Ltd vs C.I.T. It is submitted that the same be
followed being jurisdictional court, ie. High Court Bombay as per
details given below:-
Section 57 in The Income Tax Act, 1961 [Entire Act]
1