Month: October 2007

Rajasthan H.C : Cessation of employment because of voluntary retirement is also the termination of employment and the amount of the compensation received by the assessee from the employer in connection thereto is covered by ‘profits in lieu of salary’

High Court Of Rajasthan CIT vs. S.N. Sharma Section 10(10C), 17(3)(i), 35DDA, 89 Asst. Year 2002-03 R.M. Lodha & R.S. Chauhan, JJ. IT Appeal No. 152 of 2006 31st October, 2007 Counsel Appeared : Parinitoo Jain, for the Appellant JUDGMENT By the court : In D.B. IT Appeal No. 141 of 2006 CIT vs. T.K. Paliwal …

Karnataka H.C : Employer at the time of payment of voluntary retirement amount shall be refunded allowing the benefit under s. 89 r/w s. 10(10C) of the IT Act

High Court Of Karnataka CIT vs. A. Balakrishnan & Anr. Section 10(10C), 139(1), 139(4), 147, 237 Asst. Year 2003-04 V. Gopala Gowda & L. Narayanaswamy, JJ. Writ Appeal No. 572 of 2007 31st October, 2007 Counsel Appeared : Seshachala & K.V. Arvind, for the Appellant : G. Sukumar, for the Respondents Judgment Gopala Gowda, J. : …

Rajasthan H.C : Whether Tribunal ought to have clarified in view of its order that the addition of Rs. 4,37,048 has to be made in the hands of the appellant company that the said addition is not taxable in the hands of its director Mahesh Toshniwal as was done by CIT(A) ?

High Court Of Rajasthan : Jaipur Bench Samurai Software (P) Ltd. vs. CIT Section 69 Asst. Year 1991-92 R.M. Lodha & Mahesh Chandra Sharma, JJ. IT Appeal No. 21 of 2003 26th October, 2007 Counsel Appeared Sanjay Jhanwar, for the Appellant : Ms. Parinitoo Jain, for the Respondent JUDGMENT R.M. Lodha, J. : The only contention …

ITAT Jodhpur : Where Assessing Officer had examined accounts thoroughly and only thereafter issued detailed letter which contained 61 queries covering seized documents, including printouts taken from comput­ers and in process Assessing Officer had taken more than one and a half month, such a substantial time of more than one and a half month fully justified stand of Assessing Officer that it had applied his mind before directing special audit

In The ITAT Jodhpur Bench ACIT vs. Badri Ram Choudhary Block Period : 1997-98 To 6-2-2003 Section : 142 R.S. Syal, Accountant Member And Hari Om Maratha, Judicial Member IT (Ss) Appeal No. 66 (Jd) Of 2006 October  25, 2007 ORDER R.S. Syal, AM. : These cross-appeals—one by the assessee and the other by the Revenue …

S.C : whether the amendment to s. 80HHC of the IT Act, 1961, brought about by the Finance (No. 2) Act, 1991, w.e.f. 1st April, 1992, is prospective in nature or is retrospective

Supreme Court Of India K.K. Doshi & Co. vs. CIT Section 80HHC Asst. yr. 1990-91 Ashok Bhan, H.S. Bedi & V.S. Sirpurkar, JJ. Civil Appeal Nos. 7767 & 7768 of 2001 25th October, 2007 Counsel Appeared : Subhash S. Shetty & Rustom B. Hathikhanawala, for the Appellant : V. Shekhar with T.A. Khan for B.V. Balaram …

Madras H.C : The appellant trust existed only for the purpose of profit and not solely for the educational purposes and hence not entitled to exemption under s. 10(22) of the Act when the claim of exemption was upheld by the Tribunal for the earlier years

High Court Of Madras P.S. Govindasamy Naidu & Sons vs. Assistant Commissioner Of Income Tax Asst. Year 1995-96 K. Raviraja Pandian & Mrs. Chitra Venkataraman, JJ. Tax Case (Appeal) No. 1307 of 2007 23rd October, 2007 Counsel Appeared : C.V. Rajan for M/s Subbaraya Aiyar & Padmanabhan, for the Appellant JUDGMENT Mrs. Chitra Venkataraman, J. : …

Bombay H.C : the AO called upon the assessee to show cause as to why the provision for deferred taxation amounting to Rs. 2,16,01,248 made in the P&L a/c should not be taken into account for determining the book profit under s. 115JB

High Court Of Bombay M.J. Pharmaceuticals Ltd. vs. DCIT & ANR. Sections 147, 148 Asst. Year 2003-04 F.I. Rebello & J.P. Devadhar, JJ. Writ Petn. No. 2081 of 2007 17th October, 2007 Counsel Appeared : P.J. Pardiwala with A.K. Jasani, for the Petitioner : B.M. Chatterji with Mrs. P.P. Bhosale & P.S. Sahadevan, for the Respondents …

Punjab & Haryana H.C : the learned Tribunal is right in law in sustaining an addition of Rs. 15,00,000 out of the labour charges and Rs. 3,98,670 out of the labour charges payable the closing of the books of accounts and paid subsequently, in the financial year relevant to the asst. yr. 2001-02

High Court Of Punjab & Haryana Dabwali Transport Co. vs. CIT & Anr. Section 37(1), 260A Asst. Year 2000-01 M.M. Kumar & Ajay Kumar Mittal, JJ. IT Appeal Nos. 176 of 2007 15th October, 2007 Counsel Appeared : M.R. Sharma, for the Appellant JUDGMENT M.M. Kumar, J. : This order shall dispose of two appeals being …
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