Month: June 2009

Bombay H.C : the Tribunal was legally correct in placing reliance on the decision of Bombay High Court in the case of Alfa Laval India Ltd. vs. Dy. CIT (supra), which has held that ‘having accepted interest income as part of the business profits, the same could not be excluded from business profits, while calculating deduction under s. 80HHC of the IT Act’, which is not the question involved in the present case

High Court Of Bombay At Goa CIT vs. Damodar Mangalji Mining Co. Section 263 Asst. Year 1993-94 B.P. Dharmadhikari & U.D. Salvi, JJ. Tax Appeal No. 8 of 2004 23rd June, 2009 Counsel appeared : S.R. Rivonkar, for the Appellant : R. Srinivasan & Parag Wagle, for the Respondent JUDGMENT B.P. DHARMADHIKARI, J. : This appeal …

Bombay H.C : Whether the interest income received by a co- operative bank from investments made in Kisan Vikas Patra (‘KVP’ for short) and Indira Vikas Patra (‘IVP’ for short) out of voluntary reserves is income from banking business exempt under s. 80P(2)(a)(i) of the IT Act, 1961 ?

High Court Of Bombay CIT vs. Solapur Nagari Audyogic Sahakari Bank Ltd. & Ors. Section 80P(2)(a)(i) V.C. Daga & J.P. Devadhar, JJ. IT Appeal Nos. 477, 478, 521 & 560 of 2005; 526 of 2006; 19, 29, 44, 163, 166, 435, 465, 469, 470, 777 & 1320 of 2007; 46, 50, 162, 211, 212, 393 & …

Bombay H.C : The interest paid of Rs. 1,66,959 for discounting the bills with the banks during the course of the business activities was not allowable in computing the business income under s. 37 of IT Act, 1961

High Court Of Bombay Dipti Textile Industries vs. CIT Section 37(1) Asst. Year 1983-84 V.C. Daga & J.P. Devadhar, JJ. IT Ref. No. 345 of 1995 15th June, 2009 Counsel Appeared : J.D. Mistry, for the Applicant : Vimal Gupta, for the Respondent JUDGMENT By the court : These are the references made under s. 256(2) …

Bombay H.C : The Tribunal was justified in upholding the order of the CIT (respondent No. 2) in exercising revisional power vested in him under s. 263 of the IT Act, 1961 whereby respondent No. 2 set aside the assessment order passed by the AO

High Court Of Bombay Jewel Of India vs. Assistant Commissioner Of Income Tax & Anr. Section 263 V.C. Daga & J.P. Devadhar, JJ. IT Appeal No. 194 of 2003 15th June, 2009 Counsel Appeared : J.D. Mistry with P.C. Tripathi i/b Atul K. Jasani, for the Appellant : P.S. Sahadevan, for the Respondents JUDGMENT By the …

Bombay H.C : The petitioners have challenged the order passed under s. 269UD(1) of the IT Act, 1961 by the Appropriate Authority for purchase of the property belonging to the petitioner Nos. 1 and 2 and agreed to be sold to the petitioner Nos. 3 and

High Court Of Bombay Dattaram Bhikai Telge & Ors. vs. Appropriate Authority & Ors. Section 269UD F.I. Rebello & J.H. Bhatia, JJ. Writ Petn. No. 2110 of 1994 15th June, 2009 Counsel Appeared : A.K. Jasani with V. Mannadiar i/b Mannadiar & Co., for the Petitioners : R. Ashokan, for the Respondents JUDGMENT J.H. BHATIA, J. …

Bombay H.C : The interest paid of Rs. 1,66,959 for discounting the bills with the banks during the course of the business activities was not allowable in computing the business income under s. 37 of IT Act, 1961

High Court Of Bombay Dipti Textile Industries vs. CIT Section 37(1) Asst. Year 1983-84 V.C. Daga & J.P. Devadhar, JJ. IT Ref. No. 345 of 1995 15th June, 2009 Counsel Appeared : J.D. Mistry, for the Applicant : Vimal Gupta, for the Respondent JUDGMENT By the court : These are the references made under s. 256(2) …

Bombay H.C : whether the Tribunal was right in dismissing the appeal and thereby confirming the disallowance of Rs. 11,83,697 being education expenses incurred in respect of a trainee during the course of the appellant’s business ?

High Court Of Bombay Echjay Forgings Ltd. vs. Assistant Commissioner Of Income Tax Section 37 Asst. Year 1998-99 V.C. Daga & J.P. Devadhar, JJ. IT Appeal No. 584 of 2009 12th June, 2009 Counsel Appeared : P.J. Pardiwalla with V.S. Hadade, for the Appellant : P.S. Sahadevan, instructed by Suresh Kumar, for the Respondents JUDGMENT BY …
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