July 2010 – taxcaselaw.com

Madras H.C : Whether, in view of facts stated under head ‘Interest, meaning of’, amount in question received by Official Liquidator as per orders of Company Court, though repeatedly referred to as interest, for purpose of assessment of income-tax, it was part of sale consideration and, therefore, said amount was to be treated only as capital gain and not income from other sources

High Court Of Madras Cauvery Spg. & Wvg. Mills Ltd. (In Liquidation) Vs. DCIT Section : 2(28A), 45, 56 S. Nagamuthu, J. Writ Petition No. 7978 Of 2001 July 30, 2010 ORDER 1. The petitioner is a company under liquidation. The same is now represented by the Official Liquidator of this Court. A mill belonging to …

Calcutta H.C : Unexplained cash credit made by the Assessing Officer solely relying on an entry made in the order sheet which has no direct nexus with the present issue and while completely ignoring all the relevant materials and evidence available

High Court Of Calcutta Crystal Networks (P.) Ltd. VS. CIT Assessment Year : 1994-95 Section : 68, 254 Sengupta And Kanchan Chakraborty, JJ. IT Appeal No. 158 Of 2002 July 29, 2010 JUDGMENT 1. This appeal was admitted by this court on the following substantial questions of law : “I. Whether, on the facts and in …

Delhi H.C : the word ‘soap’ appears along with tooth paste, dental cream, tooth powder, the intention was to include only that kind of soap which is meant for human hygiene and, therefore, the expression “soap” in the concerned provision would not include washing soap

High Court Of Delhi CIT vs. Sraya Industries (P) Ltd. Section 32A, 32A(2A), Sch. XI, item 1 A.K. Sikri & Ms. Reva Khetrapal, JJ. IT Ref. No. 21 of 1991 28th July, 2010 Counsel Appeared : Ms. Sonia Mathur, for the Appellant : Krishnan, for the Respondent JUDGMENT A.K. SIKRI, J. : The following question is …

Delhi H.C : the AO had not brought anything on record to show that the transaction of loan was a “deposit” or “investment”

High Court Of Delhi Director Of Income Tax (Exemption) vs. ACME Educational Society Section. 11(5) & 13(1)(d) Assessment year 2005-06 Dipak Misra, C.J. & Manmohan, J. IT Appeal No. 888 of 2010 28th July, 2010 Counsel appeared : Ms. Prem Lata Bansal, for the Appellant : Piyush Kaushik, for the Respondent JUDGMENT MANMOHAN, J. : With …

Punjab & Haryana H.C : The learned Income-tax Appellate Tribunal have erred in law in cancelling the order under section 154, when the same was passed for rectifying the intimation under section 143(1)(a) dated August 25, 1994, on the basis of the second revised return filed on November 11, 1994

High Court Of Punjab & Haryana CIT vs. Haryana State Handloom And Handicrafts Corporation Ltd. Assessment Year : 1992-93 Section : 154 Adarsh Kumar Goel And Ajay Kumar Mittal, JJ. ITA No. 139 Of 2009 (O&M) JulyÂ 28, 2010 JUDGMENT Â Ajay Kumar Mittal, J. – This appeal has been preferred by the Revenue under section …

Delhi H.C : The learned Tribunal erred in law and on merits, in deleting the addition of Rs. 2,18,03,931 made by the AO and upheld by the CIT(A) on account of travelling costs to be included in the valuation of work in progress.

High Court Of Delhi CIT vs. Indomag Steel Technology Ltd. Section 145 Asst. Year 1996-97 A.K. Sikri & Ms. Reva Khetrapal, JJ. IT Appeal No. 446 of 2008 28th July, 2010 Counsel Appeared : Ms. Rashmi Chopra, for the Appellant : Rajan Bhatia, for the Respondent JUDGMENT A.K. SIKRI, J. : Notice in this appeal was …

Punjab & Haryana H.C : The learned Tribunal was right in law in confirming the order of the learned CIT(A) in directing the AO in allowing depreciation of Rs. 15,21,994 even though the deduction under s. 11 was already allowed in respect of the same asset, which amounts to double deduction and is in contravention of Hon’ble Supreme Court’s decision in the case of Escorts Ltd. & Anr. vs. Union of India & Ors. (1992) 108 CTR (SC) 275 : (1993) 199 ITR 43 (SC).

High Court Of Punjab & Haryana CIT vs. Tiny Tots Education Society Section 11(1)(a), 32 Asst. Year 2005-06 Adarsh Kumar Goel & Ajay Kumar Mittal, JJ. IT Appeal No. 93 of 2010 28th July, 2010 Counsel Appeared : Ms. Urvashi Dhugga, for the Revenue : Ravi Shankar, for the Assessee JUDGMENT ADARSH KUMAR GOEL, J. : …

Calcutta H.C : Expenditure on purchase of gift articles utilized for promotion and growth of business are allowable under section 37(1)

High Court Of Calcutta Duncans Tea Ltd. vs. CIT Section : 37(1) Kalyan Jyoti Sengupta And Kanchan Chakraborty, JJ. IT Appeal No. 230 Of 2001 July 27, 2010 JUDGMENT 1. This appeal was admitted by an order dated October 8, 2001, on the following substantial question of law : “Whether the findings of the Tribunal upholding …

Punjab & Haryana H.C : The proceedings under section 154 initiated against the assessee were pending, whereas, in fact, the notice under section 154 having been issued beyond the period of limitation under section 154(7) was non est and, hence, no proceeding under section 154 was pending

High Court Of Punjab & Haryana CIT vs. S. M. Overseas (P.) Ltd. Assessment Year 1995-1996 Section : 147, 148 Adarsh Kumar Goel And Ajay Kumar Mittal, JJ. ITA No. 556 Of 2009 JulyÂ 27, 2010 JUDGMENT Adarsh Kumar Goel, J. – This appeal has been preferred by the Revenue under section 260A of the Income-tax …

Karnataka H.C : Affirming the order of penalty passed by the Assessing Authority when the assessment on the undisclosed income is set aside by the Appellate Tribunal

High Court Of Karnataka J. Sumermal (HUF) vs. ACIT, Circle V(1), Bangalore Assessment Year : 1998-99 Section : 271(1)(C) N. Kumar And Mrs. B.V. Nagarathna, JJ. IT Appeal No. 1356 Of 2006 July 26, 2010 JUDGMENT N. Kumar, J. – The assessee has appealed against the order passed by the Tribunal upholding the imposition of penalty …

Month: July 2010