Month: September 2001

Punjab & Haryana H.C : The assessee showed a gross turnover of Rs. 38,47,829. A gross profit of Rs. 8,00,256 was declared. After claiming deductions, a total income of Rs. 79,200 was shown in the return.

High Court Of Punjab & Haryana Smt. Bimla Wanti Jain & Ors. vs. Income Tax Appellate Tribunal Sections 260A Asst. Year 1989-90 Jawahar Lal Gupta & Ashutosh Mohunta, JJ. IT Appeal No. 159 of 2001 27th September, 2001 Counsel Appeared Vikas Jain, for the Appellant : None, for the Respondent JUDGMENT JAWAHAR LAL Gupta, J. : …

Rajasthan H.C : Whether the learned Tribunal was right in law in holding the amount of interest on estate duty refund of late Shri Budhmal Dugar as not a capital receipt but as a revenue receipt liable to income-tax for the asst. yr. 1982-83 ?

High Court Of Rajasthan Jabar Mal Dugar vs. CIT Section 256(2) Asst. Year 1982-83 N.N. Mathur & O.P. Bishnoi, JJ. IT Case No. 145 of 1991 27th September, 2001 Counsel Appeared : Rajendra Mehta, for the Assessee : L.M. Lodha, for the Revenue JUDGMENT N.N. MATHUR, J. ; Heard Mr. Rajendra Mehta learned counsel for the …

Madras H.C : The Tribunal, after having held that the material on record does not show anything to connect the amount derived by the deceased’s wife by way of gift, with the subsequent loan advanced by her— the gift of Rs. 30,000 having been made in the year 1960 and the loan of Rs. 1,09,423 having been advanced to the deceased five years later

High Court Of Madras Nalini V. Shetty vs. Controller Of Estate Duty Sections ED 44, ED 46 R. Jayasimha Babu & Mrs. A. Subbulakshmy JJ. T.C. No. 761 of 1985 26th September, 2001 Counsel Appeared N. Srinivasan, for the Accountable Person : Mrs. Chitra Venkataraman, for the Controller JUDGMENT R. JAYASIMHA BABU J. : The Tribunal, …

Madras H.C : The material on record does not show anything to connect the amount derived by the deceased’s wife by way of gift, with the subsequent loan advanced by her

High Court Of Madras Nalini V. Shetty vs. Controller Of Estate Duty Sections ED 44, ED 46 R. Jayasimha Babu & Mrs. A. Subbulakshmy JJ. T.C. No. 761 of 1985 26th September, 2001 Counsel Appeared N. Srinivasan, for the Accountable Person : Mrs. Chitra Venkataraman, for the Controller JUDGMENT R. JAYASIMHA BABU J. : The Tribunal, …

Calcutta H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding the view that the loss of Rs. 11,79,420 was a short-term capital loss?

High Court Of Calcutta CIT vs. Britannia Industries Ltd. Sections 45(1), 73, Expln. Asst. Year 1979-80 Y.R. Meena & Arun Kumar Mitra, JJ. IT Ref. No. 29 of 1994 26th September, 2001 Counsel Appeared Mullick, for the Revenue : Dr. Pal, for the Assessee ORDER BY THE COURT : On an application under s. 256(2) of …

Madras H.C : There was no evidence to show that after such dissolution, the property which had belonged to the firm was transferred either to the surviving partner or to the legal heirs of the deceased partner.

High Court Of Madras CIT vs. Vijayalakshmi Metal Industries Section 45(4) Asst. Year 1989-90 R. Jayasimha Babu & Mrs. A. Subbulakshmy, JJ. Tax Case No. 665 of 1995 25th September, 2001 Counsel Appeared T. Ravikumar, for the Revenue : P.P.S. Janardhana Raja, for the Assessee JUDGMENT R. JAYASIMHA BABU, J. : The Revenue seeks to levy …
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