Month: October 2010

Karnataka H.C : In order to ascertain deduction under section 80HHC, profit derived from all businesses should be taken into consideration and not only profit from eligible business

High Court Of Karnataka G.J. Fernandez vs. ACIT Assessment Year : 2003-04 Section : 80HHC Kumar And Subhash B. Adi, JJ. IT APPEAL Nos. 798 And 799 Of 2009 October 29, 2010 JUDGMENT 1.Kumar, J. – The appeal—IT Appeal No. 798 of 2009 is preferred by the assessee against the order passed by the Tribunal which …

Bombay H.C : Whether on the facts and in the circumstances of the case, amount received by the assessee is Revenue income within the meaning of section 2(24) and taxable under section 4 of the Income-tax Act, 1961 ?

High Court Of Bombay CIT, Panaji, Goa vs. David Lopes Menezes Assessment Year :  1994-95 Section : 2(24) D.G. Karnik And F.M. Reis, JJ. Tax Appeal No. 26 Of 2002 October 29, 2010 JUDGMENT D.G. Karnik, J. – This appeal under section 260A of the Income-tax Act, 1961 (for short “the IT Act”) is directed against …

Bombay H.C : Received by the assessee as the sale consideration for transfer of incomplete building, would be termed as long term capital gains or short-term capital gains, in the hands of the assessee

High Court Of Bombay CIT, Panaji, Goa Vs. Hindustan Hotels Ltd. Assessment Year : 1996-97 Section : 2(29B),2(42B) D.G. Karnik And F.M. Reis, JJ. Tax Appeal No. 59 Of 2002 October 29, 2010 JUDGMENT D.G. Karnik, J. – This appeal is directed against the judgment and order dated 1-10-2001 passed by the Income-tax Appellate Tribunal (for …

Andhra Pradesh H.C : Whether time to create resrve be allowed to an assessee who neither claimed investment allowance in the return, nor created any investment allowance reserve

High Court Of Andhra Pradesh CIT Vs. Sarvaraya Textiles Ltd. Assessment Year : 1984-85 Section : 31,32A V.V.S. Rao And Ramesh Ranganathan, JJ. R.C. No. 85 Of 1994 October 29, 2010 JUDGMENT Ramesh Ranganathan, J. – Both the revenue and the assessee have sought a reference to this Court under section 256(1) of the Income-tax Act, …

Punjab & Haryana H.C : The Revenue has not made any effort to show that the standard rent determinable under the Rent Act is more than the actual rent received by the assessee even when the property in question does not fall within the ambit of the Rent Control Act as the leased out asset includes plant and machinery as well

High Court Of Punjab & Haryana CIT vs. K. Streetlite Electric Corpn Assessment Year : 1995-1996 Section : 22 Adarsh Kumar Goel And Ajay Kumar Mittal, JJ. IT Appeal Nos. 65 And 238 Of 2004 October 27, 2010 JUDGMENT Ajay Kumar Mittal, J. – This order will dispose of two appeals, namely, Income-tax Appeals Nos. 65 …

S.C : Where in a writ, question of jurisdiction had been disposed of by High Court but on special leave petition on going through papers, it was found that foundational facts were required to be established which could not have been done by way of writ petition

Supreme Court Of India Coca Cola India Inc. vs. ACIT Section : 260A S. H. Kapadia C.J.I., K.S. Radhakrishnan And Swatanter Kumar, JJ. SLP(C) No. 646 Of 2009 October 25, 2010 ORDER 1. The issue in this special leave petition concerns the application of the principle of transfer pricing. In the case of the assessee herein, …

Kerala H.C : the validity of assessments on the ground of alleged irregularity in the search warrant issued under section 132 was not questioned in the first round of appeals which reached the Tribunal

High Court Of Kerala Jose Cyriac vs. CIT Section : 132 C.N. Ramachandran Nair & K. Surendra Mohan, JJ. IT Appeal No. 76 Of 2010 And 684, 777 & 1168 Of 2009 October  22, 2010 JUDGMENT C.N. Ramachandran Nair, J.-Connected appeals, one filed by the assessee and three filed by the Revenue relate to the assessments …

Kerala H.C : sub-clause (f) of Explanation to section 115JA authorises addition to the book profit on the proportionate expenditure attributable to the exempted income

High Court Of Kerala CIT Vs. Dhanalekshmi Bank Ltd. Assessment Year : 1999-2000 Section : 14A, 147, 115JA, 28(i), 234D C.N. Ramachandran Nair And K. Surendra Mohan, Jj. IT Appeal Nos. 1758, 1772 & 1778 Of 2009 October  22, 2010 JUDGMENT C. N. Ramachandran Nair, J. – All the three appeals are filed by the Revenue …
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