Month: March 2006

Madhya Pradesh H.C : Whether the Tribunal was justified in holding that assessee is entitled to get the benefit of profit earned out of sale of the assets while calculating the benefit available to him under s. 32AB of the IT Act ?

High Court Of Madhya Pradesh : Indore Bench CIT vs. D & H Secheron Electrodes Ltd. Section 32AB Asst. Year 1989-90 A.M. Sapre & Ashok Kumar Tiwari, JJ. IT Appeal No. 135 of 2003 31st March, 2006 Counsel Appeared R.L. Jain with Ku. V. Mandlik, for the Appellant : Vijay Asudani, for the Respondent JUDGMENT A.M. …

Karnataka H.C :The alleged default in payment of advance tax and Writ Petn. No. 39460 of 2003 is filed challenging the intimation Annex. C insofar as it demands the interest payable under ss. 234B and 234C

High Court Of Karnataka Jindal Thermal Power Co. Ltd. vs. DCIT & Anr. Sections 115JB, 234B, 234C, ART. 265, ART. 300A Asst. Years 2001-02, 2002-03 V.G. Sabhahit, J. Writ Petn. Nos. 5334 & 39460 of 2003 31st March, 2006 Counsel Appeared K.P. Kumar for King & Partridge, for the Appellant : M.V. Seshachala & Arvind Kumar, …

Uttaranchal H.C : the assessee company did have a “PE” but reduced the income in respect of receipts for outside India operations to 1 per cent and for inside operations to 10 per cent

High Court Of Uttaranchal CIT & Anr. vs. Hyundai Heavy Industries Co. Ltd. Section 260A, DTAA between India & Korea, art. 5 Asst. Years 1986-87, 1987-88, 1988-89 P.C. Verma & B.C. Kandpal, JJ. IT Appeals Nos. 448 & 473 to 475 of 2001 (Old Nos. 326 & 13 to 15 of 2000) 30th March, 2006 Counsel …

Gujarat H.C : Whether, on the facts and in the circumstances of the case, the Tribunal has substantially erred in law in holding that out of the two limits prescribed by cl. (vi) of r. 2BA of the IT Rules, 1962, the lower limit is exempt ?

High Court Of Gujarat Arunkumar T. Makwana vs. ITO Section 10(10C), Rule 2BA(vi) J.M. Panchal & Bankim N. Mehta, JJ. Tax Appeal No. 1777 of 2005 30th March, 2006 Counsel Appeared K.R. Dixit, for the Appellant : Manish R. Bhatt, for the Respondent JUDGMENT J.M. Panchal, J. : The instant appeal filed under s. 260A of …

Kerala H.C : This Court also has no authority to assume the jurisdiction of the statutory authority to waive interest more than what is granted by the CIT

High Court Of Kerala Kandath Bus Service vs. CIT Sections 220(2), 220(2A) Asst. Years 1985-86, 1986-87, 1987-88 C.N. Ramachandran Nair, J. OP No. 4813 of 2002 30th March, 2006 Counsel Appeared T.M. Sreedharan, for the Petitioner : George K. George, for the Respondent JUDGMENT C.N. Ramachandran Nair, J. : Petitioner is challenging Ext. P3 order whereunder …

Rajasthan H.C : It was submitted that s. 132B of the Act envisages recovery of liability of the assessee as determined on completion of assessment from out of the seized assets and release of the rest after discharge of such liability

High Court Of Rajasthan: Jaipur Bench Suresh Val Chand Jain vs. Union Of India & Ors. Sections ART. 226, 132(1)(iii), proviso, 132B S.N. Jha, C.J. & R.S. Chauhan, J. Special Appeal (Writ) No. 479 of 2005 29th March, 2006 Counsel Appeared A. Kasliwal, for the Appellant : R.B. Mathur, for the Respondents JUDGMENT S.N. JHA, C.J. …

Gujarat H.C : Whether, the Tribunal is right in law and on facts in directing the AO not to deduct the amount of subsidy from the cost of assets for the purpose of calculation of depreciation ?

High Court Of Gujarat CIT vs. Amol Dicalite Ltd. Sections 32, 43(1), 43(3) Asst. Year 1985-86 J.M. Panchal & Bankim N. Mehta, JJ. IT Ref. No. 126 of 1995 29th March, 2006 Counsel Appeared Manish R. Bhatt & Tanvish U. Bhatt, for the Applicant : None, for the Respondent JUDGMENT J.M. Panchal, J. : The Tribunal …

Madras H.C : The claim of the appellant that the sum of Rs. 15,62,500 received by him by way of gifts through normal banking channels was not genuine and that it was liable to be assessed under s. 68

High Court Of Madras A. Rajendran & Ors. vs. Assistant Commissioner Of Income Tax Section 68 Asst. Years 1995-96, 1996-97 R. Balasubramanian & P.P.S. Janarthana Raja, JJ. Tax Case (Appeal) Nos. 74 to 76 & 78 to 82 of 2002 29th March, 2006 Counsel Appeared Aravind P. Datar for R. Sundaram, for the Appellant : N. …
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