Month: December 2011

Andhra Pradesh H.C : The Tribunal was justified in deleting the additions towards unpaid electricity charges on the ground that the provisions of section 43B of the Act would not apply thereto

High Court Of Andhra Pradesh CIT vs. Andhra Ferro Alloys (P.) Ltd. Assessment Year : 1991-92 Section : 43B V.V.S. Rao And B.N. Rao Nalla, JJ. Referred Case No. 99 Of 1996 December 30, 2011 JUDGMENT B.N. Rao Nalla, J. – The respondent, M/s. Andhra Ferro Alloys (the assessee), is a private limited company engaged in …

Andhra Pradesh H.C : the closing stock of the firm should be evaluated at cost price for the purpose of determination of income notwithstanding the closure of business by the partnership firm and take over of the business by an independent legal entity, viz., the company

High Court Of Andhra Pradesh CIT vs. Hansa Footwear Section : 170 Madan B. Lokur, Cj.And Sanjay Kumar, J. IT Appeal No. 36 Of 1999 December 26, 2011 JUDGMENT Madan B. Lokur, CJ. – The substantial question of law framed for our consideration is as follows : “Whether, on the facts and circumstances of the case, …

Kerala H.C : No addition can be made based on the statement of the assessee under s. 132(4) of the IT Act without further material having evidentiary value and whether on the assessee making a mere retraction statement the evidentiary value of the statement under s. 132(4) is completely extinguished

High Court Of Kerala CIT vs. O. Abdul Razak Section. 132(4) & 158BB Block period 1988-89 to 1998-99 C.N. Ramachandran Nair & K. Vinod Chandran, JJ. ITA No. 1288 of 2009 23rd December, 2011 Counsel appeared : Menon & Jose Joseph, for the Appellant : Dr. K.B. Muhamed Kutty with K.M. Firoz, for the Respondent Vinod …

Bombay H.C : Where after passing of order of pre-emptive purchase, property was not handed over to Central Government and, in turn, Central Government decided not to tender to owners purchase price, said order would be abrogated and property be re-vested with owners

High Court Of Bombay Pandharinath Bhikaji Telge Vs. Appropriate Authority Section : 269UH, 269U J.P. Devadhar And A.A. Sayed, JJ. Writ Petition Nos. 2134, 2135, 2191 & 2192 Of 2010 December 23, 2011 JUDGMENT A.A. Sayed, J. – The challenge in the above petitions, is to two orders – both dated 23rd October, 2009, passed by the Appropriate …

Delhi H.C : Once assessee has prima facie discharged its burden of proving identity of shareholders, genuineness of transaction and creditworthiness of shareholders, revenue cannot invoke section 68 without any additional material to support such a move

High Court Of Delhi CIT-II vs. Kamdhenu Steel & Alloys Ltd. Assessment Year : 2004-05 Section : 68 A.K. Sikri, Actg. CJ And M.L. Mehta, J. IT Appeal Nos. 1324 Of 2008, 972 Of 2009, 29, 1710 And 1228 To 1230 Of 2010 And 8, 339, 613 And 726 Of 2011 December 23, 2011 JUDGMENT A.K. …

Bombay H.C : Assessee having participated in transfer pricing proceedings, could not subsequently challenge determination of ALP on ground that reference was made to TPO in violation of principles of natural justice

High Court Of Bombay Hindalco Industries Ltd. VS. ACIT, TPO-1(5) Section : 92CA Dr. D.Y. Chandrachud And A.A. Sayed, Jj. Writ Petition (L) No. 2782 Of 2011 December 23, 2011 JUDGMENT Dr. D.Y. Chandrachud, J. – In these proceedings under Article 226 of the Constitution, the Petitioner has sought to challenge (i) An order dated 31 …
Malcare WordPress Security