Month: February 2005

Kerala H.C : Whether, on the facts and in the circumstances of the case, the AO has jurisdiction and authority under s. 42 of the Act to rectify and revise original assessment to assess income received on the sale of opening stock of the agricultural crop in the previous year, which was omitted to be assessed in the original assessment, and even if the revised assessment is not authorised under s. 42, whether such assessment can be sustained by virtue of s. 41 of the Act, which provides for income escaping assessment ?

High Court Of Kerala Pant Enterprises vs. Additional Agricultural Income Tax & Sales Tax Officer & Ors. Sections Ker Agrl. 13, Ker Agrl. 39, Ker Agrl. 40, Ker Agrl. 41, Ker Agrl. 42 Asst. Year 2001-02 K.S. Radhakrishnan & C.N. Ramachandran Nair, JJ. OTC No. 37 of 2004 28th February, 2005 Counsel Appeared Premjit Nagendran & …

Madhya Pradesh H.C : Whether the conclusion of the Tribunal that the property inherited as individual was not thrown into common stock of the family before 31st Dec., 1969, and is taxable as separate property and not as of HUF is against the weight of the evidential material and is thus perverse and vitiated and results in levy of tax in violation of Art. 265 of the Constitution of India ?

High Court Of Madhya Pradesh : Indore Bench Prabhashchandra Jha vs. Commissioner Of Wealth Tax Section WT 2(m), WT 3 Asst. Year 1980-81, 1981-82, 1982-83, 1983-84 A.M. Sapre & Ashok Kumar Tiwari, JJ. IT Ref. No. 40 of 1996 28th February, 2005 Counsel Appeared : Milind Phadke, for the Petitioner : R.L. Jain with Ms. V. …

Madhya Pradesh H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was justified to hold that the rental income should be assessed as income from business in place of income from house property assessed by the AO?

High Court Of Madhya Pradesh CIT vs. Kohinoor Tobacco Products (P)Ltd. Sections 22, 28(i) Asst. Years 1986-87, 1987-88, 1988-89 R.V. Raveendran, C.J. & Shantanu Kemkar, J. IT Ref. No. 154 of 1998 28th February, 2005 Counsel Appeared Rohit Arya with Sanjeev Tuli, for the Revenue : L.L. Sharma & Vijay Gupta, for the Assessee JUDGMENT R.V. …

AAR : Without prejudice to the above, would the provisions of s. 115AD be applicable to an assessee who has suffered a capital loss on the transfer of securities ?”

Authority For Advance Rulings Universities Superannuation Scheme Ltd. As Trustees Of Universities Superannuation Scheme, In Re Sections 48, 112, 115AD, 115-I, DTAA between India & UK, art. 26 Asst. Year 2003-04 Syed Shah Mohammed Quadri, J., Chairman & K.D. Singh, Member AAR No. 636 of 2004 25th February, 2005 Counsel Appeared P.J. Pardiwalla, for the Applicant …

AAR : Whether the loan advanced would be taxable as the applicant’s income by way of deemed dividend on account of the fictional provisions of s. 2(22)(e) of the Act ?

Authority For Advance Rulings X Ltd., In Re Section 245N(A) Asst. Year 2003-04 Syed Shah Mohammed Quadri, J., Chairman & A.S. Narang, Member AAR No. 639 of 2004 25th February, 2005 Counsel Appeared P.J. Pardiwalla, for the Applicant : Yashwant Y. Chavan, for the CIT concerned Ruling Syed Shah Mohammed Quadri, J., chairman : In this …
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