Month: September 2009

Delhi H.C : The receipt on account of exchange rate fluctuation of foreign exchange receipt is a capital receipt or revenue receipt irrespective of the source of the said income

High Court Of Delhi CIT vs. Jagatjit Industries Ltd. A.K. Sikri And Valmiki J. Mehta, JJ. Assessment Year : 1997-98 Section : 4 IT Appeal Nos. 364, 365, 368 To 370 Of 2007 And 923 Of 2008 September 25, 2009 JUDGMENT A.K. Sikri, J. – Common question which arises for consideration in all these appeals filed …

Delhi H.C : The expenditure incurred by the appellant on expansion of its existing business by setting up a weaving and spinning unit for manufacture of fabric and textiles in the State of Karnataka was capital in nature

High Court Of Delhi Indo Rama Synthetics (I) Ltd. vs. CIT Assessment Year : 2000-01 Section : 37(1) A.K. Sikri And Valmiki J. Mehta, JJ. IT Appeal No. 843 Of 2009 September  25, 2009 JUDGMENT A.K. Sikri, J. – This appeal was heard on the following questions of law :— “(1) Whether on the facts and …

Punjab & Haryana H.C : the order passed by the Tribunal before the insertion of section 271(1B) to the statute by the Finance Bill, 2008, cannot be said to be erroneous and the amended provisions of section 271(1B) are not applicable in the cases decided prior to the insertion of this amendment

High Court Of Punjab & Haryana CIT vs. Smt. Parmatma Kaur Assessment Year : 2002-03 Section : 271(1)(C) Adarsh Kumar Goel And Mrs. Daya Chaudhary, JJ. ITA No. 180 Of 2009 (O&M) September  23, 2009 JUDGMENT   1. The Revenue has preferred this appeal under section 260A of the Income-tax Act, 1961 (for short, “the Act”), …

Punjab & Haryana H.C : the guidance from the provisions of section 44AD cannot be taken as he is a handling and transport contractor of food grains procurement agencies and does not have his own trucks for transportation of foodgrains bags

High Court Of Punjab & Haryana Kesar Singh vs. CIT Assessment Year : 2006-2007 Section : 44AD Adarsh Kumar Goel And Mrs. Daya Chaudhary, JJ. I.T.A. No. 636 Of 2009 (O&M) September  18, 2009 JUDGMENT   Adarsh Kumar Goel, J. – The assessee has preferred this appeal under section 260A of the Income-tax Act, 1961 (in …

Gauhati H.C : Whether initiation of a proceeding under s. 147 of the IT Act, 1961, is permissible under the law for reversal of the assessment order already passed on consideration of the materials on record ?

High Court Of Gauhati CIT vs. Shiv Shakti Flour Mills (P) Ltd. Section 147 Asst. Year 1997-98, 1998-99, 1999-2000, 2000-01 Ranjan Gogoi, C.J. & B.P. Katakey, J. IT Appeal Nos. 8 of 2006, 6-8 of 2007 15th September, 2009 Counsel Appeared : U. Bhuyan, for the Appellant : R.P. Agarwalla, R. Goenka, R.K. Agarwala & M. …

Punjab & Haryana H.C : Whether on the facts and circumstances of the case, the learned Tribunal has erred in law in modifying its earlier order Annex. A5 by passing orders Annexs. A11 and A12, when the matter relating to date of acquisition of property measuring 78 Kanals 1 Marla and the date on which the right to receive compensation accrued to the assessee, was a debatable issue ?

High Court Of Punjab & Haryana Amrit Lal Jindal & Sons (HUF) vs. Wealth Tax Officer Section WT 2(ea), WT 35(3) Asst. Year 1993-94, 1994-95, 1995-96 M.M. Kumar & Jaswant Singh, JJ. WT Appeal Nos. 12 to 14 of 2009 15th September, 2009 Counsel Appeared : K.L. Goyal with Sandeep Goyal, for the Assessee : Rajesh …

Punjab & Haryana H.C : Whether the Hon’ble Tribunal has erred in law in restricting the disallowance up to the extent of Rs. 77,632 only and confirming the deletion of Rs. 12,18,208 as ordered by the CIT(A) on account of disallowance made by the AO regarding foreign tour expenses for which no evidence was led with regard to the nexus thereof with business ?

High Court Of Punjab & Haryana CIT vs. Porrits And Spencer (Asia) Ltd. Section 37 Asst. Year 1993-94 Adarsh Kumar Goel & Mrs. Daya Chaudhary, JJ. IT Appeal No. 423 of 2005 15th September, 2009 Counsel Appeared : None appeared, for the Appellant : Santosh Aggarwal, for the Respondent JUDGMENT Adarsh Kumar Goel, J. : The …

Punjab & Haryana H.C : Whether the Hon’ble Tribunal has erred in law in confirming the order of the CIT(A) vide which the disallowance of Rs. 2,91,774 made by the AO on account of personal use of cars/telephones was deleted, though the Hon’ble Madras High Court has already confirmed such disallowance of expenses in the case of CIT vs. Chitram & Co. (P) Ltd. (1991) 91 CTR (Mad) 7 : (1991) 191 ITR 96 (Mad) ?

High Court Of Punjab & Haryana CIT vs. Porrits & Spencer (A) Ltd. Section 37, 40A, 80HHC Asst. Year 2001-02 Adarsh Kumar Goel & Mrs. Daya Chaudhary, JJ. IT Appeal No. 44 of 2009 15th September 2009 Counsel Appeared : Santosh Aggarwal, for the Assessee JUDGMENT By the court : The Revenue has preferred this appeal …
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