Month: December 2002

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law and had valid material in holding that the sum of Rs. 50 lakhs paid by the assessee to Dynavision Dealers’ Welfare Trust on 26th Dec., 1984 is allowable as a business expenditure, laid out wholly and exclusively for its business under s. 37(1) of the IT Act, 1961 ?

High Court Of Madras CIT vs. Dynavision Ltd. Sections 37(1), 40A(9) Asst. Year 1985-86 N.V. Balasubramanian & K. Raviraja Pandian, JJ. TC No. 98 of 1998 31st December, 2002 Counsel Appeared T. Ravikumar, for the Applicant : V.D. Gopal, for the Respondent JUDGMENT N.V. Balasubramanian, J. : The assessee is a public limited company carrying on …

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the ‘purchase bonus’ is not allowable deduction out of profits and gains of business to the society ?

High Court Of Madras Tamil Nadu Brick & Tile Manufacturers Industrial Service Cooperative Society Ltd. vs. CIT & Anr. Sections 37(1), 80P(2)(c) Asst. years 1980-81, 1981-82, 1982-83, 1983-84, 1984-85, 1985-86, 1987-88 N.V. Balasubramanian & K. Raviraja Pandian, JJ. Tax Case Nos. 254 to 259 of 1998 & 413 of 1999 31st December, 2002 Counsel Appeared T.N. …

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee was entitled to adopt the value of its closing stock at a rate which was prevalent on 25th Oct., 1983, whereas its previous year ended on 30th Sept., 1983 ?

High Court Of Madras CIT vs. Tamil Nadu Sugar Corpn. Ltd. Sections 145 Asst. Year 1984-85 N.V. Balasubramanian & K. Raviraja Pandian, JJ. TC No. 25 of 1999 31st December, 2002 Counsel Appeared T. Ravikumar, for the Applicant : P.P.S. Janardhana Raja for Subbaraya Aiyar, for the Respondent JUDGMENT N.V. Balasubramanian, J. : In compliance with …

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that there was certain amount of ambiguity over the expression ’15 days from the close of the month’ as defined in s. 38 of the Employees’ Provident Fund Scheme, 1952, vis-a-vis month in which salary becomes due to the employees and the salary is paid to the employee ?

High Court Of Madras CIT vs. Madras Radiators & Pressings Ltd. Sections 36(1)(va), 43B Asst. Year 1991-92 N.V. Balasubramanian & K. Raviraja Pandian, JJ. Tax Case No. 218 of 1999 31st December, 2002 Counsel Appeared Mrs. Pushya Sitharaman, for the Applicant : None, for the Respondent JUDGMENT K. Raviraja Pandian, J. : At the instance of …

Madras H.C :Whether the Tribunal is right in law in holding that the interest payment of Rs. 1,38,940 made by the assessee to its partners is not hit by s. 40(b) of the IT Act, 1961 ?

High Court Of Madras CIT vs. B.S. Sundaravadivel Mudaliar & Sons Sections 40(b), 171(9) Asst. Year 1988-89, 1990-91 N.V. Balasubramanian & K. Raviraja Pandian, JJ. Tax Case Appeal Nos. 463 & 507 of 1999 and 26 of 2000 31st December, 2002 Counsel Appeared Mrs. Pushya Sitharaman, for the Appellant : V.D. Gopal, for the Respondent JUDGMENT …

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the order passed by the CIT under s. 263 of the IT Act is valid ?

High Court Of Madras Jai Bharath Tanners vs. CIT Sections 263 Asst. Year 1986-87 N.V. Balasubramanian & K. Raviraja Pandian, JJ. Tax Case No. 212 of 1999 31st December, 2002 Counsel Appeared V.S. Jayakumar, for the Applicant : Mrs. Pushya Sitharaman, for the Respondent JUDGMENT N.V. BALASUBRAMANIAN, J. : This is a reference at the instance …

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the amount of subsidy received by the assessee from the Tamil Nadu Government was in the nature of capital receipt and hence, cannot be taxed as income ?

High Court Of Madras CIT vs. Kanyakumari District Cooperative Spinning Mills Ltd. Section 4 Asst. year 1985-86 N.V. Balasubramanian & K. Raviraja Pandian, JJ. Tax Case No. 196 of 1999 31st December, 2002 Counsel Appeared Mrs. Pushya Sitharaman, for the Applicant : V. Ramachandran for Anitha Sumant & S. Mallika, for the Respondent JUDGMENT N.V. BALASUBRAMANIAN, …

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was justified in cancelling the penalty levied under s. 271(1)(c) of the Act ?

High Court Of Madras CIT vs. Coromandel Indag Products (P)Ltd. Sections 271(1)(c), 273(2)(a) Asst. Year 1983-84 N.V. Balasubramanian & K. Raviraja Pandian, JJ. Tax Case Nos. 170 & 171 of 1999 31st December, 2002 JUDGMENT N.V. Balasubramanian, J. : The assessee is a private limited company. The assessment year involved is 1983-84 and the relevant previous …

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in overlooking sub-s. (7) of s. 40 of the Finance Act, 1983, and holding that the said section relating to levy of wealth-tax in the case of closely-held companies does not apply to the assessee-club, which has been declared on its own request as a company under s. 2(h)(iii) of the WT Act ?

High Court Of Madras Commissioner Of Wealth Tax vs. Kodaikanal Club Sections FA1983 40, WT 2(h)(iii), WT 3 Asst. Year 1984-85 N.V. Balasubramanian & K. Raviraja Pandian, JJ. Tax Case No. 372 of 1999 31st December, 2002 Counsel Appeared Mrs. Pushya Sitharaman, for the Applicant : Philip George, for the Respondent ORDER K. Raviraja Pandian, J. …

Kerala H.C : Petitioners in all these original petitions are either cooperative societies or cooperative banks registered under the Kerala Cooperative Societies Act engaged in advancing loans to its members.

High Court Of Kerala M.V. Rajendran & Ors. vs. Income Tax Officer & Anr. Sections 2(31), 133(6) C.N. Ramachandran Nair, J. OP No. 30610 of 2002 24th December, 2002 Counsel Appeared P.N. Mohanan, for the Petitioners : P.K.R. Menon & George K. George, for the Respondents JUDGMENT C.N. Ramachandran Nair, J. : Petitioners in all these …
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