Month: August 2004

Allahabad H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the expenditure incurred by the assessee before the commencement of the actual production was allowable as a revenue expenditure and not as a capital expenditure ?

High Court Of Allahabad CIT vs. Mohan Steel Ltd. Section 37(1) Asst. Year 1977-78 R.K. Agrawal & K.N. Ojha, JJ. IT Ref. No. 192 of 1983 31st August, 2004 Counsel Appeared A.N. Mahajan, for the Revenue : None, for the Assessee JUDGMENT R.K. Agrawal, J. : The Tribunal, Allahabad, has referred the following question of law …

Allahabad H.C : Whether, on the facts and in the circumstances of the case, the finding of the Tribunal that the Shri Jai Kishan Sharma (son of No. 3) Shri Risat Das Smt. Manjoo Jain Shri Shyam Sunder Das Shri Madan Mohan Das

High Court Of Allahabad CIT vs. Varanasi Nagar Vikas Section 4 Asst. Year 1977-78 R.K. Agrawal & K.N. Ojha, JJ. IT Ref. No. 152 of 1984 31st August, 2004 Counsel Appeared Shambhoo Chopra, for the Appellant : Abhinav Upadhyaya, for the Respondent JUDGMENT R.K. Agrawal, J. : The Tribunal, Allahabad, has referred the following question of …

Punjab & Haryana H.C : Whether, on the facts and in the circumstances of the case, the Tribunal erred in law in holding that the amount of Rs. 5,29,332 was liable to tax as deemed income under sub-s. (1) of s. 41 of the IT Act, 1961 ?

High Court Of Punjab & Haryana CIT vs. Chaudhary Cotton Ginning & Pressing Factory Section 32(2), 41(1) Asst. Year 1977-78 N.K. Sud & S.S. Grewal, JJ. IT Ref. Nos. 120 & 121 of 1982 31st August, 2004 Counsel Appeared Rajesh Bindal, for the Petitioner JUDGMENT N.K. Sud, J. : This order will dispose of IT Ref. …

Punjab & Haryana H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that penalty levied under s. 18(1)(a) in this case had been rightly deleted by the AAC ?

High Court Of Punjab & Haryana Commissioner Of Wealth Tax vs. Bal Krishan Shoor Section WT 18(1)(a) Asst. Year 1972-73 N.K. Sud & S.S. Grewal, JJ. WT Ref. No. 13 of 1984 30th August, 2004 Counsel Appeared : D.S. Patwalia, for the Revenue JUDGMENT By the court : At the instance of the Revenue, the Income-tax …

Madras H.C : There is a legal fiction introduced in Expln. 1 to s. 271(1) of the IT Act, 1961, that concealment, ipso facto, will attract penalty.

High Court Of Madras CIT vs. Susai Kalyanamandapam (P) Ltd. Section 260A, 271(1)(c), Expln. B. Subhashan Reddy, C.J. & M. Karpagavinayagam, J. Tax Case (Appeal) No. 580 of 2004 27th August, 2004 Counsel Appeared : K. Subramanian, for the Appellant JUDGMENT B. Subhashan Reddy, C.J. : The order of the Tribunal confirming the order of the …

Andhra Pradesh H.C : A short question is involved in this writ petition. The petitioner is an assessee of the IT Department. For the asst. yrs. 1988-89 and 1990-91 to 1995-96 pursuant to the orders dt. 2nd Dec., 1999, the second respondent determined the tax at Rs. 1,76,80,735 payable by the petitioner to the Department.

High Court Of Andhra Pradesh B.M. Malani vs. Income Tax Department & Ors. Section 226(3) Asst. Year 1988, 1990-91 to 1995-96 Bilal Nazki & P.S. Narayana, JJ. Writ Petn. No. 23025 of 2002 27th August, 2004 Counsel Appeared : Vilas V. Afzulpurkar, for the Petitioner : J.V. Prasad & Ch. Ramesh Babu, for the Respondents JUDGMENT …

Andhra Pradesh H.C : Whether, on the facts and in the circumstances of the case, the Tribunal is correct in holding that the assessee’s case falls under the instructions issued by the Department in Instruction No. 1935, dt. 12th March, 1996 ?

High Court Of Andhra Pradesh CIT vs. Smt. Nayana P. Dedhia Sections 119, 143(3) Asst. Year 1996-97 Bilal Nazki & P.S. Narayana, JJ. IT Appeal No. 306 of 2003 27th August, 2004 Counsel Appeared J.V. Prasad, for the Appellant : S. Ravi, for the Respondent JUDGMENT Bilal Nazki, J. : This is an appeal by the …

Allahabad H.C : Though the right to exploit a particular film for a particular period is property, it is not such an asset whose value can be added by making adjustments in the balance sheet while acting under the provisions of s. 7(2)(a) of the WT Act

High Court Of Allahabad Commissioner Of Wealth Tax vs. Narendra Kumar Gupta & Ors. Section WT 2(e), WT Rule 2C Asst. Year 1975-76 R.K. Agrawal & K.N. Ojha, JJ. WT Ref. No. 69 of 1984 27th August, 2004 Counsel Appeared Shambhu Chopra, for the Revenue : P.K. Jain, for the Assessee JUDGMENT By the court : …

Punjab & Haryana H.C : Stock was found short to the tune of Rs. 30,50,700. In view of discrepancies in the stock, a surrender of Rs. 3 lakhs was made on account of profit earned on the unaccounted sales

High Court Of Punjab & Haryana Guru Proteins Ltd. vs. CIT Sections 4, 69 Asst. Year 1995-96 N.K. Sud & Adarsh Kumar Goel, JJ. IT Appeal No. 196 of 2003 26th August, 2004 Counsel Appeared P.C. Jain, for the Assessee : Dr. N.L. Sharda, for the Revenue JUDGMENT Adarsh Kumar Goel, J. : This appeal has …
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