Month: November 2008

Rajasthan H.C : Whether in the facts and circumstances of the case, the Tribunal was in error in allowing the entire claim of deduction under s. 37(1) of the amount paid by the assessee towards the dues of its employees whose services were brought to an end under the Voluntary Retirement Scheme ?

High Court Of Rajasthan CIT vs. P. I. Industries Ltd. Section 37(1) N. P. Gupta & Kishan Swaroop Chaudhari, JJ. IT Appeal No. 19 of 2007 21st November, 2008 Counsel Appeared : K.K. Bissa, for the Appellant : Arun Bhansali, for the Respondent JUDGMENT N. P. GUPTA, J. : This appeal has been filed by the …

Delhi H.C : after the assessee’s business had already commenced then the interest paid on capital borrowed or loan taken can be claimed as deduction under section 36(1)(iii) of the Act.

High Court Of Delhi CIT, Delhi-II Vs. Monnet Industries Ltd. Assessment Year : 1996-97 Section : 36(1)(iii) Badar Durrez Ahmed And Rajiv Shakdher, JJ. IT Appeal No. 450 Of 2008 November  21, 2008 JUDGMENT Rajiv Shakdher, J. – This is an appeal by the revenue under section 260A of the Income-tax Act, 1961 (hereinafter referred to …

Delhi H.C : Whether provision for bad and doubtful debts amounting to Rs. 1.01 crores was to be added back to the net profit while computing book profit under s. 115JA of the Act in view of Expln. (c) to s. 115JA(2) ?

High Court Of Delhi CIT vs. DCM Sriram Consolidated Ltd. Section 115JA Asst. Year 1997-98 Badar Durrez Ahmed & Rajiv Shakdher, JJ. IT Appeal No. 1187 of 2005 21st November, 2008 Counsel Appeared : Ms. Prem Lata Bansal, for the Revenue : M.S. Syali with V.P. Gupta, Aseem Mowar & Basant Kumar, for the Assessee JUDGMENT …

Rajasthan H.C : Whether in the facts and circumstances of the case, the Tribunal was in error in allowing the entire claim of deduction under s. 37(1) of the amount paid by the assessee towards the dues of its employees whose services were brought to an end under the Voluntary Retirement Scheme ?

High Court Of Rajasthan CIT vs. P. I. Industries Ltd. Section 37(1) N. P. Gupta & Kishan Swaroop Chaudhari, JJ. IT Appeal No. 19 of 2007 21st November, 2008 Counsel Appeared : K.K. Bissa, for the Appellant : Arun Bhansali, for the Respondent JUDGMENT N. P. GUPTA, J. : This appeal has been filed by the …

Punjab & Haryana H.C : Whether on the facts and law, the Hon’ble Tribunal was justified in ignoring the respondent as only a manufacturer as it did not have the object of earning commission and service charges as per the memorandum and articles of the respondent company ?

High Court Of Punjab & Haryana CIT vs. Arihant Cotsyn Ltd. Section 28(i), 43A, 260A Asst. Year 1996-97 Adarsh Kumar Goel & L.N. Mittal, JJ. IT Appeal No. 123 of 2008 21st November, 2008 Counsel appeared : Rajesh Sethi, for the Revenue JUDGMENT Adarsh Kumar Goel, J. : The Revenue has preferred this appeal under s. …

Rajasthan H.C : Whether the relief under s. 89 of the IT Act, 1961 is admissible to the assessee on the VRS amount in excess of the exemption under s. 10(10C) of the IT Act, 1961 ?

High Court Of Rajasthan : Jaipur Bench CIT vs. Rabindranath Lal Section 10(10C), 89 Asst. Year 2001-02 R.M. Lodha & R.S. Chauhan, JJ. IT Appeal No. 50 of 2007 21st November, 2008 Counsel Appeared : R.B. Mathur, for the Appellant JUDGMENT R.M. Lodha, J. : The AAC allowed deduction of ex gratia payment amounting to Rs. …

Rajasthan H.C : Whether the amount received by the assessee from its buyers of its product, to the extent it relates to octroi, sales-tax and excise duty is not includible in the total turnover vis-a-vis the export turnover for the purpose of computation of amount deductible under s. 80HHC of the IT Act, 1961 ?

High Court Of Rajasthan CIT vs. Secure Meters Ltd. Section 80HHC Asst. Year 1996-97 N.P. Gupta & Kishan Swaroop Chaudhari, JJ. IT Appeal No. 8 of 2007 20th November, 2008 Counsel Appeared : K.K. Bissa, for the Appellant : Sanjay Jhanwar & Arun Bhansali, for the Respondent ORDER By the court : This appeal has been …

Punjab & Haryana H.C : There was clear admission on behalf of the assessee during appellate proceedings before the learned Tribunal that the account of wages is unverifiable

High Court Of Punjab & Haryana CIT vs. Parbhat Kumar Section 145 Asst. Year 2001-02 Adarsh Kumar Goel & L.N. Mittal, JJ. IT Appeal No. 293 of 2008 14th November, 2008 Counsel Appeared : Sanjeev Kaushik, for the Appellant JUDGMENT Adarsh Kumar Goel, J. : The Revenue has preferred this appeal under s. 260A of IT …
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