March 2005

Sec. 271(1)(a), Section 271

Allahabad H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was legally justified in holding that no penalty could be imposed on a registered firm where the advance tax paid exceeded the tax assessed on it as a registered firm even though as an unregistered firm the tax payable would be more than the advance tax ?

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High Court Of Allahabad CIT vs. Chanda Radio Section 271(1)(a), 271(2) Asst. Year 1983-84 R.K. Agrawal & Prakash Krishna, JJ.

Sec. 254(1), Section 80-IA

Madhya Pradesh H.C : Whether, on the facts and in the circumstances of the case and in law, the Tribunal was justified in confirming the order of CIT(A) in holding that the assessee was entitled to deduction under s. 80-IA without appreciating that the additions on account of unproved purchases, suppression of sales of scrap, difference of stock, insurance claimed, interest on security deposit cannot be said to be derived from industrial activities ?

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High Court Of Madhya Pradesh : Indore Bench CIT vs. Simplex (Indore) (P) Ltd. Sections 80-IA, 254(1) Asst. Year 1993-94

Sec. 234B

Madhya Pradesh H.C : Whether, on the facts and in the circumstances of the case and in law, the Tribunal was justified in directing the AO to charge the interest under s. 234B on the basis of tax calculated on the returned income, whereas s. 234B for charging interest clearly speaks of tax on assessed income determined under s. 143(1) or on regular assessment minus tax deducted or collected at source ?

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High Court Of Madhya Pradesh : Indore Bench CIT vs. Ferro Concrete Co. (I) Ltd. Section 234B Asst. Year 1992-93

Wealth Tax Act

Kerala H.C : Whether, on the facts and circumstances of the case, was the Tribunal justified in upholding the valuation of the building under s. 5(1) of the WT Act based on market rent or rent receivable after ignoring municipal valuation which was based on actual rent paid for the building by the tenant firm constituted by the assessee and family members as partners?

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High Court Of Kerala T.A. Abdul Khader vs. Commissioner Of Wealth Tax Section WT 7, Sch. III, R. 5 Asst.

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