Month: February 2011

Punjab & Haryana H.C : the office note dated 21.05.2001 which was appended to section 158BC order dated 21.5.2001 and is part of the said order, does not constitute a satisfaction note within the parameter of Section 158 BD of the Income Tax Act, 1961 in respect of the person who has borrowed money through the assessee broker who is the searched person for the purpose of order U/s 158 BC of the Income Tax Act, 1961

High Court Of Punjab & Haryana CIT vs. Mukta Metal Works Section 158BD, 158BC Adarsh Kumar Goel And Ajay Kumar Mittal, JJ. IT Appeal No. 22 Of 2008 February  28, 2011  JUDGMENT Adarsh Kumar Goel, J. – This appeal has been preferred by the revenue under Section 260-A of the Income Tax Act, 1961 (for short, …

Delhi H.C : No penalty u/s 271(1)(c) if issue is debatable

High Court Of Delhi CIT Vs. H.B. Leasing & Finance Co. Ltd. Assessment Year : 1994-95 Section : 271(1)(C),37(1) A.K. Sikri And M.L. Mehta, JJ. IT Appeal No. 1612 Of 2010 February  28, 2011 JUDGMENT 1. In the income-tax return filed by the assessee pertaining to the assessment year 1994-95, the assessee had declared an income …

Punjab & Haryana H.C : The expenses incurred on purchase of computer software as Revenue expenses in nature despite the fact that the assessee had capitalized the expenses under the head ‘office equipment’ but claimed depreciation @ 100%

High Court Of Punjab & Haryana CCIT (OSD), Faridabad vs. O.K. Play India Ltd. Assessment Year : 1995-96 Section : 37(1) Adarsh Kumar Goel And Ajay Kumar Mittal, JJ. IT Appeal No. 414 Of 2006 February 25, 2011 ORDER Adarsh Kumar Goel, J. – Since Registry has not been able to send the file on account of …

Gujarat H.C : The Appellate Tribunal is right in law and on facts in confirming the order passed by the Commissioner of Income-tax (Appeals) allowing the claim of the assessee under section 80HHA

High Court Of Gujarat CIT vs. Friends Salt and Allied Industries Section : 80HHA Assessment Year : 1989-90 Ms. Harsha Devani And H.B.Antani, JJ. ITR No. 30 Of 2000 February  25, 2011 JUDGMENT Ms. Harsha Devani, J. – The Income-tax Appellate Tribunal, Rajkot Bench, Rajkot (the Tribunal), has referred the following questions for the opinion of …

Punjab & Haryana H.C : The assessee has validly withdrawn its exemption under section 10B, earlier claimed in the original return by validly filing a revised return under section 139(5) on March 31, 1998, in spite of the specific provisions of sub-section (7) of section 10B applicable for the relevant period

High Court Of Punjab & Haryana CIT vs. Rana Polycot Ltd. Assessment Year : 1997-98 Section : 10B Adarsh Kumar Goel And Ajay Kumar Mittal, JJ. IT Appeal No. 400 Of 2005 February 25, 2011 JUDGMENT Ajay Kumar Mittal, J. – This appeal has been preferred by the Revenue under section 260A of the Income-tax Act, …

Gujarat H.C : The assessee’s claim of bad debt of Rs. 2,70,606 merely on the entry in the account books and on the basis of the provisions contained in s. 36(1)(vii) r/w s. 36(2)(iii)

High Court Of Gujarat ACIT vs. Pullen Pump Industries Assessment Year : 1989-90 Section : 36(1)(Vii)/(Viia)/(2) Ms. Harsha Devani And H.B. Antani, JJ. Tax Appeal No. 20 Of 2000 February 25, 2011 JUDGMENT Ms. Harsha Devani, J. – By this appeal under s. 260A of the IT Act, 1961 (the Act), the appellant – Revenue has …

Delhi H.C : Allowing deduction under section 35(2AB) cut-off date mentioned in certificate issued by Department Scientific & Industrial Research (DSIR) would be of no relevance

High Court Of Delhi CIT – III Vs. Sandan Vikas (India) Ltd. Assessment Year : 2005-2006 Section : 35 A.K. Sikri And M.L. Mehta, JJ. IT Appeal No. 348 Of 2011 February 24, 2011 JUDGMENT CM No.3499/2011 : A.K. Sikri, J. – For the reasons stated in the application, delay in filing the appeal is condoned. …
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