Month: November 2009

AAR : Whether the transfer of shares of Dana India Technical Centre (P) Ltd., Dana India (P) Ltd. and Spicer India Ltd., by Dana Corporation, is not taxable under the IT Act, 1961 ?

Authority For Advance Rulings Dana Corporation, In Re Section 45, 48, 92 P.V. Reddi, J., Chairman AAR No. 788 of 2008 30th November, 2009 Counsel Appeared : A.V. Sonde with Achin Goel, Rahul Yadav, Rajan Vora & Ms. Sheetal Shah, for the Applicant : Parag A. Vyas, for the CIT concerned Ruling P.V. Reddi, J., Chairman …

Karnataka H.C : Whether the Tribunal is justified in law in disallowing the interest paid to loan creditors under the facts and circumstances of the appellant’s case ?

High Court Of Karnataka Travellers Choice vs. ITO Section 147, 148, Asst. Year 1991-92 K.L. Manjunath & Aravind Kumar, JJ. IT Appeal No. 25 of 2004 30th November, 2009 Counsel appeared : A. Shankar, for the Appellant : K.V. Aravind, for the Respondent JUDGMENT K.L. Manjunath, J. : The assessee has come up in this appeal …

Madras H.C : Proceedings under section 158BD are time barred when the assessment was completed within two years from the end of the month when the notice under the correct section was issued

High Court Of Madras CIT vs. K.M. Ganesan Section : 158BE,158BC,158BD K. Raviraja Pandian And M.M. Sundresh, JJ. T.C. Appeal No. 1215 Of 2009 November  30, 2009 JUDGMENT K. Raviraja Pandian, J. -The correctness of the order of the Income-tax Appellate Tribunal, Madras “B” Bench dated June 12, 2009 made in I.T.A. No. 103/Mds/2007 is canvassed …

Madhya Pradesh H.C : The value of benefit to the assessee resulting from interest-free or concessional loan has to be determined as per the basis provided thereafter and hence, the significant term is “concessional loan”

High Court Of Madhya Pradesh All India Punjab National Bank Officers’ Association & Ors. vs. Chairman-Cum-Managing Director, Punjab National Bank & Ors. Section 17(2)(vi), 295, IT Rule 3(7)(i), Asst. Year 2008-09 Dipak Misra & R.K. Gupta, JJ. Writ Petn. Nos. 3222 , 3275, 3343, 3489, 3658, 3749, 3752, 3837, 3951, 3957 to 3959, 3962, 3963, 3973, …

Madhya Pradesh H.C : The Tribunal was justified in deleting the payment of commission to the directors of the assessee-company amounting to Rs. 9 lakhs from the net of tax

High Court Of Madhya Pradesh CIT vs. Khemchand And Motilal Jain Tobacco Products (P) Ltd. Section 37, 40(c), 80HH/80-I Asst. Year 1992-93 Dipak Misra & R.K. Gupta, JJ. IT Appeal No. 12 of 1999 30th November, 2009 Counsel Appeared : Sanjay Lal, for the Appellant : H.S. Shrivastava & S. Jain, for the Respondent JUDGMENT Dipak …
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