Here is Portfolio page of Ankur, with all his work

Sum paid by Co. to lessor was not revenue exp. made for working cap. asset, SC
Nov. 14, 2015
Assessee Co. acquired from State Govt. lease of limestone quarries for manufacture of cement. In a/c year Co. paid its lessor as per two covenants & claimed to deduct sum in computation of its business profits u/s 10(2)(xv). AAC, ITO & Tribunal rejected it. On reference HC upheld it. SC upheld it too holding that sum agreed to be paid by Co. to lessor was not revenue exp. which was made by Co. for working capital asset which it had acquired.-010366
Assessee-Bank held liable to pay interest u/s 201(1A) as failed to deduct TDS.
Dec. 09, 2015
Assessee-bank failed to deduct TDS on deposits made by (HPSEB). AO held assessee to be in default & determined liability u/s 201(1) & 201(1A). On appeal, CIT(A) upheld it. On appeal ITAT held, assessee-bank was required to deduct tax. Since assessee has later on deducted tax at 1% which was also approved by Income-tax authorities, there can't be any default for deduct'n of tax on part of bank & assessee liable to pay interest u/s 201(1A…
AO order of withdrawl of benefit of investment allowance held incorrect by HC.
Nov. 02, 2015
Assessee was granted benefit of investment allowance u/s 32A. Under a scheme industrial units held by assessee were transferred to other companies. AO passed order u/s 32A(5) withdrawing benefit of investment allowance. On appeal CIT(A) allowed it. However, ITAT disallowed holding that scheme of arrangement did not result in 'transfer' u/s 32A(5). On appeal HC upheld ITAT decision holding that there was transfer within meaning of Section 32A(5). -0…
AO computed higher indirect cost that reduced benefits u/s 80HHC deleted by HC.
Nov. 04, 2015
Assessee-Co. traded & exported. It was entitled for deduction u/s 80HHC. AO computed higher indirect cost attributable to turnover by taking total indirect cost in ratio of export turnover & total turnover which reduced income benefit u/s 80HHC. CIT & ITAT allowed it. On appeal HC disallowed it holding that ITAT's decision allowed deduction in previous year. Thus, assessee held entitled to benefit of Rs.50 lacs & not Rs.30 lakhs u/s 80HHC(3)(b).-01…
Amounts held includible in total receipt u/s 44BB for levy of tax at 10% rate.
Dec. 10, 2015
Assessee NR Co. explored & produced in India. It declared its revenues on account of two contracts with 'X' Co. & offered its receipts to tax at rate 10% according to proviso. of Sec. 44BB. AO rejected it & included amounts in total receipt. In light of CIT v. Halliburton Offshore Services Inc. [2008] 300 ITR 265, CIT held, both amts. are includible in total receipt provided u/s 44BB for levy of tax at rate of 10%. ITAT upheld it on app…
Assessee directed to show records on which change in accounting policy made.
Nov. 23, 2015
Assessee filed return declaring loss. Assessment completed u/s 143(3) &Sec.115JB. AO reopened assessment on ground of no change in accounting policy regarding dep. AO made addit'n to book profit on account of applying reduced rate of dep. CIT(A) upheld it. On appeal ITAT held, issue on merits is set aside to record of AO for deciding afresh after verification & examination of relevant record, which assessee has not produced before AO & Tribunal.-00…
Reduction claimed on computing book profits u/s 115JB, at 100 % allowed, SC.
Nov. 06, 2015
Asessee was MAT Co., while computing its book profits u/s 115JB, assessee claimed reduction under clause (iv) of Explanation to Sec. 115JB at 100 % of export profits. AO, allowed only 80% of export profits in terms of Sec. 80HHC(1B). On appeal CIT & Tribunal allowed 100%. On appeal HC held in favor of revenue. On appeal SC held, difference between eligibility & deductibility of profits can not be ascertained purely on basis of c…
Lifting of corporate veil by AO held in breach of principles of natural justice
Dec. 08, 2015
Tax dues were pending upon assessee, director of ltd Co. AO issued notice u/s 179 to recover outstanding dues. Assessee objected, as he was director of public ltd. Co. AO held that if conditions were satisfied for lifting of corporate veil, he could take public Ltd. Co. as pvt. ltd. Co. On writ, HC held, AO order based on lifting of corporate veil even if it is, would be in breach of principles of natural justice & hence, can't be sustained.&nb…
Sec.19 RTI Act more beneficial than Sec.18 to appeal if info denied to person,SC
Nov. 06, 2015
Application filed u/s 6 for obtaining information from SIO relating to magisterial enquiries. On non response complaint u/s 19(8) filed before CIO. Its decision was challenged in writ. HC held u/s 18, Commisioner has no power to direct SIO to furnish information. On appeal SC held, out of two procedure, between Sec.18 & 19, one u/s 19 is more beneficial to person who has been denied access to info. Appellants directed to file appeals u/s 19.-010600
Works manager & supervisors held to be in category of workers, HC
Dec. 24, 2015
Assessee mfd. polythene bags & tubes. It claimed deduct'n u/s 80-IB. Assessee employed only 8 workers in manufacturing process, AO disallowed deduct'n. On appeal CIT(A) & ITAT allowed it. On appeal ITAT upheld it holding, works manager is like highly technical qualified worker having managerial responsibility, likewise, supervisor is also like highly skilled supervisory worker. Therefore, both these persons fall within the categories of wor…