August 2009

Sec. 32(1)(ii), Sec. 32(1)(iii), Sec. 43(6)

Delhi H.C : Whether Income-tax Appellate Tribunal (hereinafter “Tribunal”) was correct in law in directing the AO to recompute the depreciation after reducing scarp value of the assets, which have been discarded and written off in the books of accounts for the year under consideration from the WDV of the block of asset ?

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High Court Of Delhi CIT vs. Yamaha Motor India (P) Ltd. Section 32(1)(ii), 32(1)(iii), 43(6)(c)(b) Asst. Year 2000-01, 2001-02 A.

Section 11

Punjab & Haryana H.C : the learned Tribunal has erred in law in allowing the exemption to the assessee under s. 11(1)(a) instead of exemption under s. 11(4A) because as per the aims and objects of the society, the schools were established only to achieve the aims and objects. Therefore, the establishment of school is incidental to promoting the aims and objects of the charitable societies /institutions as per their own articles of association/memorandum

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High Court Of Punjab & Haryana CIT vs. Manav Mangal Society Section 11 Asst. Year 2003-04 Adarsh Kumar Goel &

Section 37

Punjab & Haryana H.C : the Tribunal was right in upholding the CIT(A)’s action in deleting the addition of Rs. 8,86,957, made on account of unsecured loans, ignoring the fact that the assessee had failed to discharge the onus of proving the creditworthiness of the alleged loan creditors, whereas due to the assessee’s failure in producing the alleged creditors, the AO was justified in taking an adverse view in terms of s. 114 of the Indian Evidence Act

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High Court Of Punjab & Haryana CIT vs. Mandeep Singh Section 37 Asst. Year 2004-05 Adarsh Kumar Goel & Mrs.

Section 145, Sec. 260A

Punjab & Haryana H.C : There is no case for rejection of books of accounts, ignoring the fact that the assessee had failed to furnish the requisite separate trading and P&L a/c of trading of various commodities and that of the bottling plant and as such, in terms of s. 114 of Evidence Act, the AO was justified in taking an adverse view

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High Court Of Punjab & Haryana CIT vs. Patiala Distt. Co-Op. Milk Producers’ Union Ltd. Section 145, 260A Asst. Year

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