Month: April 2010

Madras H.C : the respondent had filed false returns of income

High Court Of Madras Assistant Commissioner Of Income Tax vs. N.K. Mohamed Ali Section 276C, 277, IPC 193, IPC 196, IPC 420, CRPC 245(2) Asst. Year 1984-85, 1985-86, 1986-87 C.T. Selvam, J. Criminal O.P. Nos. 32954 to 32956 of 2005 & Misc. Petn. Nos. 9303 to 9305 of 2005 30th April, 2010 Counsel appeared : K. …

Bombay H.C : The purchase and sale of shares by the petitioner was in the ordinary course of its business and the income which resulted from this, constitutes business profits and not capital gains

High Court Of Bombay Prudential Assurance Company Ltd. vs. Director Of Income Tax (International Taxation) & Anr. Section 245S, 263, Art. 226 Asst. Year 2004-05, 2005-06 Dr. D.Y. Chandrachud & J.P. Devadhar, JJ. Writ Petn. No. 866 of 2010 29th April, 2010 Counsel Appeared : Percy J. Pardiwala with R. Murlidharan & P.C. Tripathi i/b Atul …

Punjab & Haryana H.C : Whether on the facts and in the circumstances of the case, the Hon’ble Tribunal was right in law in rejecting the method adopted by the AO for working out the ‘book profit’ under s. 115J(1A) of the IT Act, 1961 as per requirement of s. 205 of the Companies Act, 1956 r/w Parts II and III of Sch. VI of Companies Act, 1956 and in allowing the WDV method adopted by the assessee for working out depreciation as against the straight line method adopted by the AO as per s. 350 of the Companies Act, 1956.

High Court Of Punjab & Haryana CIT vs. Prakash Industries Ltd. Section 260A, 115J Asst. Year 1988-89, 1989-90 M.M. Kumar & Jitendra Chauhan, JJ. IT Appeal Nos. 46 & 47 of 2003 28th April, 2010 Counsel Appeared : Sanjeev Kaushik, for the Appellant : Sanjay Bansal with Ms. Harpreet Kaur, for the Respondent JUDGMENT M.M. KUMAR, …

Delhi H.C : CIT(A) allowed the loss on account of sale of WSIL shares but upheld the disallowance of loss in respect of shares of GGIPL on the ground that the sale proceeds were used to reduce liabilities prior to amalgamation with GDOPL

High Court Of Delhi CIT vs. Gillette Diversified Operations (P) Ltd. Section 276C Asst. Year 2000-01 Badar Durrez Ahmed & V. K. Jain, JJ. IT Appeal No. 434 of 2009 28th April, 2010 Counsel Appeared : Sanjeev Sabharwal, for the Appellant : Ms. kavita Jain, for the Repondent JUDGMENT V.K. JAIN, J. : This is an …

Bombay H.C : The consistent view of the AO was that such services amounted to technical fees for included services under the Indo-US treaty and were chargeable in India @ 15 per cent on a gross basis

High Court Of Bombay Mckinsey & Company, Inc.—United States (Mckinsey US) vs. Unionof India & Ors. Section 9(1)(vii), 197, Art. 14, Art. 226, DTAA between India & USA, art. 12 Asst. Year 2010-11 Dr. D.Y. Chandrachud & J.P. Devadhar, JJ. Writ Petn. No. 805 of 2010 27th April, 2010 Counsel Appeared : Porus Kaka with Dinesh …

Bombay H.C : the AO held the petitioner to be jointly and severally liable under s. 179 for the payment of the tax dues of the company in the aforesaid amount together with interest payable under s. 220(2)

High Court Of Bombay Dinesh T. Tailor vs. Tax Recovery Officer & Ors. Section 2(43), 179 Asst. Year 1990-91 Dr. D.Y. Chandrachud & J.P. Devadhar, JJ. Writ Petn. No. 641 of 2010 27th April, 2010 Counsel Appeared : B. V. Jhaveri with Ms. Preeti Shukla, for the Petitioner : Vimal Gupta, for the Respondents JUDGMENT Dr. …

Delhi H.C : the assessee in his original return of income filed on 30th Nov., 1998 had shown a long-term capital gain of Rs. 40,953. The said return was processed under s. 143(1

High Court Of Delhi CIT vs. SFIL Stock Broking Ltd. Section 147, 148 Asst. Year 1998-99 Badar Durrez Ahmed & V.K. Jain, JJ. IT Appeal No. 1056 of 2009 27th April, 2010 Counsel appeared : Sanjeev Sabharwal, for the Appellant : Ajay Vohra with Ms. Kavita Jha and Sriram Krishna, for the Respondent JUDGMENT BADAR DURREZ …
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