Month: July 2002

Madras H.C : Whether on the facts and in the circumstances of the case, the Tribunal was justified in setting aside the order of the CIT(A) with a direction to him to reconsider the penalty imposed under s. 27 (1)(c) on merits ?

High Court Of Madras CIT vs. R.R. Pictures Sections 254(1), 271(1)(c) Asst. Year 1966-67 V.S. Sirpurkar & N.V. Balasubramanian, JJ. Tax Case No. 284 of 1991 31st July, 2002 Counsel Appeared T.C.A. Ramanujam, for the Applicant : None, for the Respondent ORDER N.V. BALASUBRAMANIAN, J. : In pursuance of the directions of this Court, the Tribunal …

Gauhati H.C : Whether, on the facts and in the circumstances of the case, the Tribunal is correct in law in allowing investment allowance on ultrasound medical diagnostic electrical equipment, air-conditioner and servo voltage stabilizer ?

High Court Of Gauhati CIT vs. Dr. M.L. Agarwalla Sections 32A(2)(b)(ii) Asst. Year 1989-90 J.N. Sarma & D. Biswas, JJ. IT Ref. No. 2 of 2001 31st July, 2002 Counsel Appeared U.C. Bhuyan, for the Revenue : Ramesh Goenka, Raj K. Agarwala & M. Talukdar, for the Assessee JUDGMENT D. BISWAS, J. : In compliance with …

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal is justified in law in limiting the deduction of expenditure claimed in the manner it had done, either as entertainment expenditure under s. 37(2) of the Act or otherwise ?

High Court Of Madras G.A. Vasant vs. CIT Sections 37(1), 37(2), 37(2A) Asst. Year 1979-80, 1981-82, 1982-83 V.S. Sirpurkar & N.V. Balasubramaniam, JJ. Tax Case Nos. 1337 to 1339 of 1990 31st July, 2002 Counsel Appeared P.P.S. Janardhana Raja, for the Assessee : T.C.A. Ramanujam, for the Revenue ORDER V.S. Sirpurkar, J. : This judgment shall …

Madras H.C : Whether, on the facts and in the circumstances of the case, there is any material for the Tribunal to hold that the sum of Rs. 3,49,000 representing the estimated family expenses during the block period 1987-88 to 1997-98, represents the undisclosed income of the appellant ?

High Court Of Madras H. Shahul Hameed vs. Assistant Commissioner Of Income Tax Sections 69, 158B, 158BC, 260A Asst. Year 1987-88, 1988-89, 1989-90, 1990-91, 1991-92, 1992-93, 1993-94, 1994-95, 1995-96, 1996-97, 1997-98 V.S. Sirpurkar & N.V. Balasubramanian, JJ. TC No. 19 of 2002 & TC Misc. Petn. No. 3 of 2002 31st July, 2002 Counsel Appeared Anitha …

Madras H.C : The transfer of the said property was effected by an instrument of transfer dt. 24th April, 1985, in favour of five transferees and one of the transferees is the respondent herein in the appeal.

High Court Of Madras CIT vs. Mrs. Kalavathy Sections 269C, 269D V.S. Sirpurkar & N.V. Balasubramanian, JJ. TC (A) Nos. 1198 & 1199 of 1990; 125, 382 & 1114 to 1150 of 1991 and 8 & 9 of 1992 30th July, 2002 Counsel Appeared T.C.A. Ramanujam, for the Appellant : P.P.S. Janardhana Raja, for the Respondent …

Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in confirming the order of the CIT(A) by which he had restored the matter regarding levy of interest under s. 216 to the IAC for fresh consideration and rejecting the assessee’s additional ground raised in this behalf ?

High Court Of Rajasthan : Jaipur Bench Associated Stone Industries vs. CIT Sections 37(1), 80VV, 216 Asst. Year 1982-83 Y.R. Meena & Shashi Kant Sharma, JJ. DB IT Ref. No. 67 of 1986 30th July, 2002 Counsel Appeared R.S. Mehta with Ms. Preet Sharma, for the Petitioner : J.K. Singhi, for the Respondent JUDGMENT BY THE …

Calcutta H.C : This is an appeal under s. 260A. The West Bengal State Financial Corporation formed under the State Financial Corporations Act, 1951, had invested in shares of various companies and the investments aggregated to Rs. 14,05,785.

High Court Of Calcutta West Bengal Financial Corporation & Anr. vs. DCIT Sections 36(2), 260A Asst. Year 1992-93 Ajoy Nath Ray & Ms. Indira Banerjee, JJ. G.A. No. 247 of 2002 IT Appeal No. 3 of 2002 30th July, 2002 JUDGMENT By the Court : This is an appeal under s. 260A. The West Bengal State …

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the capital gains from the sale by the assessee of the residential house would be exempt under s. 54 of the IT Act and setting aside the order passed by the CIT under s. 263 of the Act ?

High Court Of Madras CIT vs. M.K. Chandrakanth & Ors. Section 54 V.S. Sirpurkar & N.V. Balasubramanian, JJ. T.C. Nos. 60 to 62 of 1989 30th July, 2002 Counsel Appeared : T.C.A. Ramanujam, for the Revenue : R. Meenakshisundaram, for the Assessee JUDGMENT BY THE COURT : The respondents (hereinafter referred to as “the assessees”) were …

Madras H.C : Whether the Tribunal was right in holding that in computing the relief under s. 80J of the IT Act for purpose of arriving at the capital employed in various units, the liabilities of head office mainly sales-tax loan and fixed deposits should be deducted ?

High Court Of Madras Metal Powder Co. Ltd. vs. CIT Section 40(c), 80J Asst. Year 1982-83 V.S. Sirpurkar & N.V. Balasubramanian, JJ. TC No. 1112 of 1990 30th July, 2002 Counsel Appeared P.P.S. Janardhana Raja, for the Applicant : T.C.A. Ramanujam, for the Respondent ORDER V.S. Sirpurkar, J. : The questions came to be referred at …

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the assessee-company is entitled to a deduction of Rs. 1,60,699 for the asst. yr. 197980, Rs. 3,47,944 for the asst. yr. 1980-81 and Rs. 7,74,846 for the asst. yr. 1981-82, under s. 80J of the IT Act, 1961, in respect of its new unit ‘B’ at Kirikera, Hindupur District, Andhra Pradesh ?

High Court Of Madras Super Spg. Mills Ltd. vs. CIT Sections 40(c)(ii), 40A(5), 40A(8) & 80J Asst. Year 1979-80, 1981-82 V.S. Sirpurkar & N.V. Balasubramanian, JJ. TC Nos. 63 to 67 of 1989 30th July, 2002 Counsel Appeared G. Sarangan & R. Meenakshisundaram, for the Applicant : T.C.A. Ramanujam, for the Respondent JUDGMENT N.V. BALASUBRAMANIAN, J. …
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