Month: February 2003

Kerala H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in not allowing the corresponding adjustment in the closing stock valuation while admittedly the opening stock valuation stands reduced and the non-reduced valuation of the opening stock was reckoned in valuing the closing stock ?

High Court Of Kerala V.K. Moosakutty vs. CIT Sections 145 Asst. Year 1986-87 G. Sivarajan & J.M. James, JJ. IT Ref. No. 190 of 1999 28th February, 2003 Counsel Appeared M. Pathrose Mathai & John Ramesh K.I. John, for the Applicant : P.K.R. Menon, for the Respondent JUDGMENT G. Sivarajan, J. : The following question of …

Delhi H.C : Whether, on the facts and in the circumstances of the case, the value of benefit or amenity relating to expenses on car for the purpose of applying the provisions of s. 40(c) of the IT Act has to be restricted to the assessable value of such benefit or amenity as perquisite in the hands of the employee-director ?

High Court Of Delhi Commissioner Of Income Tax vs. Raunaq & Co. Pvt. Ltd. Section 40(c) Asst. Year 1974-75 D.K. Jain & Madan B. Lokur, JJ. IT Ref. No. 354 of 1983 27th February, 2003 Counsel Appeared Sanjeev Sabharwal with Rajeev Awasthi, for the Revenue : None appeared, for the Assessee JUDGMENT D.K. JAIN J. : …

Andhra Pradesh H.C : Whether, on the facts and in the circumstances of the case, the Tribunal is justified in holding that the assessee is an institution which satisfied the conditions of s. 2(15), r/w s. 11 ?

High Court Of Andhra Pradesh CIT vs. Hyderabad Race Club Charitable Trust Sections 2(13), 2(15), 11, 12, 13(1)(bb) Asst. Year 1978-79, 1980-81 B. Sudershan Reddy & C.V. Ramulu, JJ. Case Refd. Nos. 154, 216 & 220 of 1991 26th February, 2003 Counsel Appeared S.R. Ashok, for the Applicant : C. Kondanda Ram, for the Respondent JUDGMENT …

Bombay H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was correct in allowing the liability as revenue expenditure or it should be spread over the same by taking into consideration, the years for which the scheme is to be implemented and consider the tax effect exceeding the limit prescribed by the Board ?

High Court Of Bombay CIT vs. Bhor Industries Ltd. Sections 37(1) Asst. Year 1996-97 S.H. Kapadia & J.P. Devadhar, JJ. IT Appeal No. 643 of 2002 26th February, 2003 Counsel Appeared lR.V. Desai with P.S. Jetley & S.V. Bharucha i/b K.B. Rao, for the Appellant : J.D. Mistry with B.D. Damodar i/b Kanga & Co., for …

Karnataka H.C : These petitions are directed against the order of Settlement Commission, dt. 30th Nov., 1998. Petitioner was incorporated on 30th Nov., 1984, as a private limited company for manufacturing alkaloids based medicines for curing cancer and hypertension.

High Court Of Karnataka Southern Herbals Ltd. vs. Settlement Commission & Anr. Sections 28(i), 35D, 56 Asst. Year 1993-94, 1994-95 R. Gururajan, J. Writ Petn. Nos. 29719 & 29720 of 1999 26th February, 2003 Counsel Appeared G. Sarangan, for the Petitioner : E.R. Indra Kumar, for the Respondents ORDER R. GURURAJAN, J. : These petitions are …

Bombay H.C : This petition is filed under Art. 226 of the Constitution seeking to challenge the action of Asstt. CIT vide notice dt. 3rd July, 2002, under s. 148 of the IT Act to reassess the petitioner’s income for the asst. yr. 1996-97.

High Court Of Bombay Bhor Industries Ltd. vs. Assistant Commissioner Of Income Tax & Ors. Sections 147, proviso Asst. Year 1996-97 S.H. Kapadia & J.P. Devadhar, JJ. Writ Petn. No. 1909 of 2002 26th February, 2003 Counsel Appeared J.D. Mistry with B.D. Damodar i/b Kanga & Co., for the Petitioner : R.V. Desai with P.S. Jetly …

Calcutta H.C : Whether, on the facts and in the circumstances of the case, the Hon’ble Tribunal was justified in law in holding the view that provisions of r. 8(2) was applicable to the case of the assessee and that the allowance by way of deduction be granted ?

High Court Of Calcutta CIT vs. Tasati Tea Ltd. Sections 37(1), 256, RULE 8(2) D.K. Seth & Maharaj Sinha, JJ. IT Ref. No. 21 of 1998 26th February, 2003 Counsel Appeared D.K. Shome & P.K. Bhowmick, for the Petitioner : Srenik Singhvi, for the Respondent ORDER D.K. Seth, J. : The following question was referred for …

Patna H.C : Heard learned counsel for the parties. This writ application has been filed to quash the order dt. 31st Oct., 2000, passed by the CIT under s. 12AA

High Court Of Patna St. Paul’s Anglo Indian Educational Society vs. Income Tax Appellate Tribunal & Ors. Sections 12A, 12AA Nagendra Rai & Rajendra Prasad, JJ. CWJC No. 2171 of 2003 26th February, 2003 JUDGMENT BY THE COURT : Heard learned counsel for the parties. This writ application has been filed to quash the order dt. …

Rajasthan H.C : Whether, on the facts and in the circumstances of the case and in law, the Tribunal was right in holding that the technical fees of Rs. 1,13,572 and Rs. 1,79,775 were required to be charged @ 20 per cent as per provisions of s. 115A(1)(b)(ii) of the IT Act, 1961, as it stood at the relevant time ?

High Court Of Rajasthan : Jaipur Bench CIT vs. Foss Electronic Sections 115A(1)(b)(ii), 115A(1)(b)(iii) Asst. Year 1985-86, 1986-87 Y.R. Meena & Khem Chand Sharma, JJ. IT Ref. Appln. No. 13 of 1994 25th February, 2003 Counsel Appeared R.B. Mathur, for the Revenue : None, for the Assessee JUDGMENT BY THE COURT : On this application under …
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