Month: March 2009

Bombay H.C : The AO towards unexplained cash credits even though the assessee-company had not proved the creditworthiness of the creditors to advance the loans to the assessee-company

High Court Of Bombay CIT vs. Tania Investments (P) Ltd. Section 68 F.I. Rebello & R.S. Mohite, JJ. IT Appeal No. 15 of 2009 30th March, 2009 Counsel Appeared : Vimal Gupta, for the Appellant : Sanjiv M. Shah, for the Respondent JUDGMENT By the Court : The Revenue is in appeal on the following question …

Madras H.C : Conversion charges received by the assessee from other textile mills could not be included in the total turnover for the purpose of computation of deduction under s. 80HHC

High Court Of Madras CIT vs. Coimbatore Twisters (P) Ltd. Section 80-I, 80HHC, 154 Asst. Year 1991-92 K. Raviraja Pandian & P.P.S. Janarthana Raja, JJ. Tax Case (Appeal) No. 194 of 2005 30th March, 2009 Counsel Appeared : K. Subramaniam, for the Petitioner : K. Venkatanarayanan, for the Respondent JUDGMENT K. Raviraja Pandian, J. : This …

Gujarat H.C : Assessee was engaged in carrying on the activity of manufacturing though it has been categorically held by the AO in the assessment order that activity carried on by assessee tantamounts to cutting and not manufacturing or production

High Court Of Gujarat CIT vs. Alfa Lamination Section 80-IB, 260A Asst. Year 2001-02 D.A. Mehta & S.R. Brahmbhatt, JJ. Tax Appeal No. 363 of 2008 30th March, 2009 Counsel Appeared : Manish Bhatt with Mrs. Mauna M. Bhatt, for the Appellant : S.N. Soparkar with Mrs. Swati Soparkar, Tushar Hemani, Ms. Pauromi Sheth & Ms. …

Punjab & Haryana H.C : Ludhiana Improvement Trust (for brevity, ‘the petitioner-trust’) has approached this Court under Art. 226 of the Constitution with a prayer for quashing show-cause notices dt. 5th Dec., 2008 and 19th Dec., 2008 (P-1 & P-3) proposing to hold special audit under s. 142(2A)

High Court Of Punjab & Haryana Ludhiana Improvement Trust vs. CIT & Anr. Section 142(2A) Asst. Year 2006-07 M.M. Kumar & H.S. Bhalla, JJ. Civil Writ Petn. No. 4763 of 2009 26th March, 2009 Counsel Appeared : Ms. Radhika Suri, for the Petitioner JUDGMENT M.M. KUMAR, J. : Ludhiana Improvement Trust (for brevity, ‘the petitioner-trust’) has …

Madras H.C : The Tribunal was right in law in confirming the valuation of properties as per r. 20 instead of r. 3 of Sch. III to the WT Act, 1957, without taking into account the land comprised in pathway, sit out, servant quarters, swimming pool, rest rooms, club area, pump house, tennis court, car and scooter shed, etc., as built up area

High Court Of Madras Binny Ltd. vs. Assistant Commissioner Of Wealth Tax Section WT 2(ea)(i), WT 7, WT 7(4), WT 23, Sch. III, R. 3, Sch. III, R. 8, Sch. III, R. 20 Asst. Year 1993-94 to 2001-02 K. Raviraja Pandian & P.P.S. Janarthana Raja, JJ. Tax Case (Appeal) Nos. 937 to 950 of 2005 24th …

Bombay H.C : the Hon’ble High Court was right in allowing credit for MAT, under s. 115JAA of the IT Act, 1961, before charging interest under ss. 234B and 234C of the IT Act.

High Court Of Bombay CIT vs. Natural Gems Ltd. Section 115JA, 234B, 234C F.I. Rebello & R.S. Mohite, JJ. IT Appeal No. 778 of 2007 24th March, 2009 Counsel Appeared : Suresh Kumar, for the Appellant : J.D. Mistri, for the Respondent JUDGMENT By the court : We had requested Mr. Mistri to appear as amicus …

Gujarat H.C : the Tribunal was right in law in reversing the CIT(A)’s order and deleting the disallowance of Rs. 48,02,616 being lease rent paid to GIDC on the ground that it was revenue expenditure

High Court Of Gujarat DCIT vs. Sun Pharmaceutical Ind. Ltd. Section 37(1) Asst. Year 1994-95 D.A. Mehta & S.R. Brahmbhatt, JJ. Tax Appeal No. 274 of 1999 23rd March, 2009 Counsel Appeared : K.M. Parikh, for the Appellant : S.N. Soparkar with Ms. Niti P. Sheth & Ms. Paurami B. Sheth, for the Respondent JUDGMENT D.A. …
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