Month: October 2004

Delhi H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that assessee is liable to pay capital gains tax on a share of 25 per cent of the total sale consideration in respect of property No. 22, Darya Ganj, New Delhi ?

High Court Of Delhi Ashok Soi vs. CIT Sections 45(1), 48 Asst. Year 1995-96 B.C. Patel, C.J. & Badar Durrez Ahmed, J. IT Appeal No. 48 of 2000 29th October, 2004 Counsel Appeared C.S. Aggarwal with Salil Aggarwal & Prakash Kumar, for the Appellant : R.D. Jolly with Ajay Jha, for the Respondent JUDGMENT B.C. Patel, …

Allahabad H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was legally justified in its opinion that the firms M/s Techno Sales Corporation and M/s Kumar Wire & Conductors were not sole selling agents of the company and, therefore, the provisions of s. 294(2) were not attracted ?

High Court Of Allahabad CIT vs. Principal Officer C/O Arkaywires (P) Ltd. Section 37(1), COMP 294(2), COMP 314(1)(b) Asst. Year 1973-74 R.K. Agrawal & Prakash Krishna, JJ. IT Ref. No. 175 of 1981 29th October, 2004 Counsel Appeared Dhananjay Awasthi, for the Applicant : S. Chatterjee, for the Respondent JUDGMENT R.K. Agrawal, J. : The Tribunal, …

Allahabad H.C : Whether, on the facts and circumstances of the case, the Tribunal was in error in holding that the assessee was not liable to wealth-tax on the value of interest in the AOP ?

High Court Of Allahabad Commissioner Of Wealth Tax vs. J.K. Srivastava Sections WT 3, WT 4(1)(b), WT RULE 2 Asst. Years 1967-68, 1969-70, 1970-71, 1971-72, 1972-73, 1973-74, 1974-75, 1975-76, 1976-77 R.K. Agrawal & Prakash Krishna, JJ. WT Ref. Nos. 193 of 1984, 194 of 1985 & 2 of 1986 27th October, 2004 Counsel Appeared A.N. Mahajan, …

Madhya Pradesh H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the assessee-company was entitled to depreciation on biogas plant for full year ignoring comprehensive information furnished by the assessee-company itself vide its letter dt. 23rd Feb., 1996, which contains its own admission with the biogas plant was commissioned on 9th Oct., 1992, and also documentary evidence on record clearly proves the biogas plant having been operational on 9th Oct., 1992, i.e., after the expiry of half of the previous year relevant to the assessment year in question ?

High Court Of Madhya Pradesh CIT vs. Vindhyachal Distilleries (P) Ltd. Sections 32, 260A Asst. Year 1993-94 R.V. Raveendran, C.J. & Shantanu Kemkar, J. IT Appeal No. 54 of 2003 27th October, 2004 Counsel Appeared Rohit Arya & Sanjeev Tuli, for the Appellant : Sumit Nema with Mukesh Agrawal, for the Respondent JUDGMENT R.V. raveendran, C.J. …

AAR : India has DTAA with UAE. As per art. 13(3) of the DTAA between India and UAE, signed in 1993, gains from alienation of shares in an Indian company held by resident of UAE will be taxable only in UAE. So as our client is a resident of UAE for which necessary tax residency certificate is enclosed. Hence, under this tax treaty the assessee would not be liable to capital gains tax in India.

Authority For Advance Rulings Emirates Fertilizer Trading Company Wll, In Re Section 90(2), DTAA between India and UAE, art. 13 Syed Shah Mohammed Quadri, J., Chairman AAR No. 628 of 2004 27th October, 2004 Counsel Appeared None, for the Applicant : Sunil Agarwal, for the CIT concerned Ruling Syed Shah Mohammed Quadri, J., Chairman : The …

Punjab & Haryana H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in directing the AO to recompute deduction under s. 80J by including a sum of Rs. 1,50,000 in the capital employed.

High Court Of Punjab & Haryana CIT vs. Shree Raghunath Cotton Ginning & Oil Factory Section 80J Asst. Year 1985-86 G.S. Singhvi & Ajay Kumar Mittal, JJ. IT Ref. No. 65 of 1991 26th October, 2004 Counsel Appeared Rajesh Bindal, for the Revenue : None, for the Assessee JUDGMENT Ajay Kumar Mittal, J. : At the …

AAR : This application under s. 245Q(1) of the IT Act, 1961 (for short the “Act”), is by a non-resident company—Dun & Bradstreet, Espana, SA—which was incorporated in Spain.

Authority For Advance Rulings Dun & Bradstreet Espana, S.A., In Re Sections DTAA between India & Spain, art. 5, DTAA between India & Spain, art. 7, DTAA between India & Spain, art. 13, 90(2), 195 Syed Shah Mohammed Quadri, J., Chairman & K.D. Singh, Member AAR No. 615 of 2003 20th October, 2004 Counsel Appeared Nishith …

AAR : These three applications, under s. 245Q(1) of the IT Act, 1961 (for short the “Act”), raise common points.

Authority For Advance Rulings Hindustan Powerplus Ltd., In Re Sections 2(24)(iiia), 2(24)(iiib), 9(1)(ii), 10(14), 245N(ii) Asst. Year 2000-01, 2001-02, 2002-03, 2003-04, 2004-05 Syed Shah Mohammed Quadri, J., Chairman & K.D. Singh, Member AAR No. 562 of 2002 18th October, 2004 Counsel Appeared V. Ramachandran with Ms. Anita Sumanth, for the Applicants : Ms. Anu J. Singh …
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