October 2002

Income Tax Case Laws

Kerala H.C : Whether, on the facts and in the circumstances of the case, is the Tribunal right in holding that with reference to the book profit as shown in the P&L a/c of the company the additions made by the AO by way of disallowance of the provision for foreseeable loss on contract, the provision for bad and doubtful debts and the provision for obsolescence of stores, are not in accordance with the provisions of s.115J ?

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High Court Of Kerala CIT vs. Fertilisers & Chemicals Travancore Ltd. S. Sankarasubban & Kum. A. Lekshmikutty, JJ. IT Ref. […]

Section 220

Madras H.C : A director of Pilot Pen Co. (India) (P) Ltd., the company under liquidation has filed the above application seeking a direction to the first respondent-official liquidator, High Court, Madras, to remit the admitted liability of Rs. 95,57,921 after waiving the demand for interest and penal interest claimed by various creditors.

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High Court Of Madras Catholic Centre vs. Pilot Pen Co. (India) (P) Ltd. (In Liquidation) Sections 220(2); COMP 446(2)(b), Companies

Income Tax Case Laws

Rajasthan H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right to hold that “Amnesty Scheme” did not apply to assessment proceedings pending under s. 147 having been initiated by the service of notice under s. 148 served on the assessee on 27th Feb., 1986, for the asst. yr. 1983-84, but not in penalty proceedings and, therefore, various circulars containing Amnesty Scheme were not applicable to the assessee’s case?

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High Court Of Rajasthan Jatturam & Sons vs. CIT Asst. Year 1983-84 N.N. Mathur & H.R. Panwar, JJ. IT Ref.

Income Tax Case Laws

Kerala H.C : Was the Tribunal right in law and in the facts and circumstances of the case in holding that the income received from the relevant shopping complex is not business income despite the facts that the AO has admittedly held a part of the receipts therefrom as business income and that the provision made by the appellant was a business facility complete by organised activity ?

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High Court Of Kerala Attukal Shopping Complex (P) Ltd. vs. CIT S. Sankarasubban & Kum. A. Lekshmikutty, JJ. IT Appeal

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