Month: April 2009

Madras H.C : Deduction under s. 80HHC was allowable on the basis of book profits and not on the basis of eligible profits under s. 80HHC as, per computation under the normal provisions of the IT Act, while computing the book profits under s. 115JB

High Court Of Madras CIT vs. Jumbo Bag Ltd. Section 80HHC, 115JB, 263 Asst. Year 2001-02, 2002-03 K. Raviraja Pandian & M. M. Sundresh, JJ. Tax Case Appeal Nos. 6 and 8 of 2009. 30th April, 2009 Counsel Appeared : J. Narayanasamy, for the appellant JUDGMENT K. Raviraja Pandian, J. : The Revenue is on appeal …

Bombay H.C : The appellant was entitled to depreciation on the assets acquired from M/s Western India Match Company Ltd. (WIMCO) based on the value placed in the surveyors report and not on the actual cost incurred by the appellant for acquisition of the assets

High Court Of Bombay Titanor Components Ltd. vs. CIT Section 158A, 254(1), Asst. Year 1992-93, 1993-94 & 1995-96 to 1997-98 AT GOA B.P. Dharmadhikari & U.D. Salvi, JJ. Tax Appeal Nos. 47 to 51 of 2006 29th April, 2009 Counsel Appeared : P.J. Pardiwalla with S.G. Bhobe, for the Appellant : S.R. Rivonkar, for the Respondent …

Madras H.C : Whether on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the receipts from the sale of levy free sugar is capital receipt and not taxable ?

High Court Of Madras CIT vs. Tiruttani Co-Operative Sugar Mills Ltd. Section 4 Asst. Year 1991-92 to 1994-95 K. Raviraja Pandian & M.M. Sundresh, JJ. Tax Case (Appeal) Nos. 609 to 612 of 2004 28th April, 2009 Counsel appeared : J. Naresh Kumar, Ms. Pushya Sitaraman, for the Appellant : J. Balachandar, for the Respondent JUDGMENT …

Madras H.C : The Tribunal was right in treating the appeal filed by the assessee company to the CIT(A) as maintainable and valid in law, when the official liquidator was appointed and had taken charge prior to the filing of appeal before CIT(A)

High Court Of Madras CIT vs. Sanmac Motor Finance Ltd. Section 246A, LIMITATION 5, INT 2(7) Asst. Year 1992-93, 1997-98 K. Raviraja Pandian & M.M. Sundresh, JJ. Tax Case (Appeal) Nos. 220 to 225 of 2009 27th April, 2009 Counsel Appeared : K. Subramaniam, for the Appellant JUDGMENT K. RAVIRAJA PANDIAN, J. : The Revenue on …

Madras H.C : The MAT credit is to be set off from the tax payable before levying interest under ss. 234B and 234C of the IT Act, 1961 ? Whether on the facts and circumstances of the case the MAT credit can be given priority of set off against tax payable, contrary to the scheme of Sch. G of Form 1

High Court Of Madras CIT vs. Tulsyan Nec Ltd. Section 115JAA, 234A, 234B, 234C Asst. Year 1998-99, 1999-2000, 2000-01 K. Raviraja Pandian & M.M. Sundresh, JJ. Tax Case (Appeal) Nos. 1143 to 1145 of 2008 27th April, 2009 Counsel Appeared : Mrs. Pushya Sitaraman, for the Appellant Judgment K. Raviraja Pandian, J. : The appeals in …

Uttarakhand H.C : Mobilization/demobilization charges in respect of voyage conducted in Indian territorial waters only, are to be included in the gross revenue and the remaining amount of such charges are not part of the gross revenue, for the purposes of computation of income under section 44BB

High Court Of Uttarakhand CIT, Dehradun vs. R & B Falcon Drilling Co. Assessment Year : 2001-02 Section : 44BB Prafulla C. Pant And B.S. Verma, JJ. IT Appeal No. 132 Of 2007 April 24, 2009 ORDER 1. This appeal, preferred under section 260A of the Income-tax Act, 1961 (‘the Act’) is directed against the order …
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