Month: May 2011

Delhi : Assessing Officer is bound to record satisfaction within the meaning of section 158BD of the Act, during the process of assessment of the person searched under section 158BC of the Act

High Court Of Delhi CIT-XIII vs. Radhey Shyam Bansal Section : 158BD Dipak Misra, CJ. And Sanjiv Khanna, J. IT Appeal No. 582 Of 2008 & Others May 30, 2011 JUDGMENT Dipak Misra, CJ. – In this batch of appeals under section 260A of the Income-tax Act, 1961 (for brevity ‘the Act’) preferred by the revenue. …

AAR : The amounts reimbursed by the applicant represent income accruing to GTE-OC and accordingly charged to tax within the provision of section 195 of the Act.

Authority For Advance Rulings (Income-Tax), New Delhi Verizon Data Services India (P.) Ltd., In Re Section : 9 Justice P.K. Balasubramanyan, Chairman J. Khosla And V.K. Shridhar, Member A.A.R. No. 865 Of 2010 May 27, 2011 RULING V.K. Shridhar, Member – The applicant, Verizon Data Services India Private Limited (VDSI), is a Private Limited company and …

AAR : Whether aforesaid transfer of shares of JDIPL by applicant to JDA Singapore has to be held to be a gift and, therefore, applicant is not liable to pay any capital gain tax on such transfer

Authority For Advance Rulings (Income-Tax), New Delhi Deere & Co., In Re Section : 45, 92, 139 P.K. Balasubramanyan, Chairman J. Khosla And V.K. Shridhar, Member Aar No. 934 Of 2010 May 27, 2011 RULING J. Khosla, Member. – The applicant, Deere & Company, USA, is a foreign company incorporated under the laws of the USA. …

Karnataka H.C : The Tribunal impugned in this appeal directing the assessing authority to set off the loss/unabsorbed depreciation of the eligible business under section 80-IA(4) against the income from other non-eligible business carried out by the assessee having regard to the facts and circumstances of the case is perverse and arbitrary

High Court Of Karnataka CIT vs. Swarnagiri Wire Insulations (P.) Ltd. Assessment Year : 2005-06 Section : 80-IA, 70 N. Kumar And Aravind Kumar, JJ. IT Appeal No. 5050 Of 2010 May 27, 2011 JUDGMENT N. Kumar, J. – This appeal was admitted to consider the following substantial question of law : “Whether the order of …

Delhi H.C : Where documents on record revealed that assessee had originally purchased property in question at a higher sum than what was revealed in sale deed, difference between agreed price and price shown in sale deed was rightly brought to tax as unexplained investment

High Court Of Delhi Bela Juneja vs. CIT Section : 69 A.K. Sikri And M.L. Mehta, JJ. IT Appeal No. 779 Of 2011 May 23, 2011 JUDGMENT M.L. Mehta, J. – A search and seizure operation was carried out on 22nd Sept., 2005 under s. 132 of the IT Act, 1961 at the premises of Shri …
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