Month: March 2012

Bombay H.C : The Tribunal was right in law in deleting the settlement charges and legal expenses by the assessee for getting a Consent Decree from the High Court

High Court Of Bombay CIT, Bombay City-IV, Bombay vs. Airlines Hotel (P.) Ltd. Section : 37(1) Dr. D.Y. Chandrachud And M.S. Sanklecha, JJ. IT Reference No. 102 Of 1995 March 30, 2012 JUDGMENT Dr. D.Y. Chandrachud, J. – This reference under Section 256(1) of the Income-tax Act, 1961 at the behest of the Revenue seeks the …

Delhi H.C : know- how, business contacts, business information, etc. acquired as part of the slump sale described as ‘goodwill’ were not entitled for depreciation under Section 32(1)(ii)

High Court Of Delhi Areva T & D India Ltd. & Ors. vs. DCIT & ORS. Section 260A, 32(1)(ii), 143(3), 32(2)(ii), 32, 42, 2, 47, 170, 43(6), 263 The Acting Chief Justice & Siddharth Mridul J. ITA No.315/2010 with ITA No.1151/2010 & ITA No.1152/2010 30th March, 2012 Counsel Appeared Ajay Vohra with Ms. Kavita Jha, Mr. …

Gujarat H.C : Where details of commission paid to company in question were furnished to Assessing Officer and entire expenditure was disallowed under section 40A(2)(b) in order of assessment under section 143(3), reassessment proceedings to disallow such commission under section 40(a)(ia) could not be sustained

High Court Of Gujarat Rubamin Ltd. VS. Love Kumar Assessment year : 2005-06 Section : 147, 148 Bhaskar Bhattacharya, Actg. CJ. And J.B. Pardiwala, J. Special Civil Application No. 16901 Of 2011 April  30, 2012 JUDGMENT J. B. Pardiwala, J. – By this application under article 226 of the Constitution of India, the writ-petitioner, an assessee under …

Delhi H.C :Where Government waived off loan granted towards cost of assets, assessee’s case fell under section 43(1) and, thus, depreciation on assets was to be disallowed to extent of loan so waived off

High Court Of Delhi Steel Authority Of India Ltd. vs. CIT Assessment Years : 2000-01 To 2003-04 Section : 43(1), 32 Sanjiv Khanna And R.V. Easwar, JJ. IT Appeal Nos. 37, 38 & 41 Of 2010 And 29 Of 2011 March 30, 2012 JUDGMENT R.V. Easwar, J. – These are four appeals filed by the assessee …

Delhi H.C : There is no requirement in section 153C(1) that Assessing Officer should also be satisfied that such valuable articles or books of account or documents belonging to other person must conclusively reflect or disclose any undisclosed income

High Court Of Delhi SSP Aviation Ltd. vs. DCIT Assessment Years : 2003-04 To 2008-09 Section : 153C, 132 Sanjiv Khanna And R.V. Easwar, JJ. WPC No. 309 Of 2011 March 29, 2012 JUDGMENT R.V. Easwar, J. – SSP Aviation Ltd., the petitioner herein, is a company based in Delhi mainly engaged in the business of …

Karnataka H.C : Allows the departmental appeal and rejects the appellant’s cross-objections against the order of the CIT(A) was perverse, contrary to facts and against evidences in respect of the Assessment years 1996-97, 1997-98 and 2000-2001

High Court Of Karnataka C.K.K Catering Services vs. ACIT, Central Circle, Mangalore Block Period : 1-4-1989 To 7-2-2000 Section : 158BC, 158BB D.V. Shylendra Kumar And K. Govindarajulu, JJ. IT Appeal No. 353 Of 2006 March 28, 2012 JUDGMENT D.V. Shylendra Kumar, J. – The appeal by the assessee a Pantry Car Services firm engaged in …

Bombay H.C : The assessee firm was eligible for claiming deduction under Section 80IB(10) of the Act wherein the assessee failed to fulfill the primary conditions laid down under Section 80IB(10) of the Act such as commencement of construction, area of plot and size of the flats constructed by the assessee

High Court Of Bombay CIT-25 vs. Vandana Properties Assessment Years : 2004-05 And 2005-06 Section 80-IB J.P. Devadhar & A.R. Joshi, JJ. IT Appeal Nos. 3633 Of 2009 & 4361 Of 2010 March 28, 2012 JUDGMENT J.P. Devadhar, J. – These two appeals are admitted on the following common substantial question of law and taken up …

Delhi H.C : Where book profits as declared were in conformity and as per provisions of Parts II and III of Schedule VI of Companies Act, 1956, adjustment of prior period expenses in book profits under section 115JB would be a debatable issue; AO was not justified in invoking section 154

High Court Of Delhi CIT vs. R.T.C.L. Ltd. Sanjiv Khanna And R.V. Easwar, JJ. Assessment year 2002-03 Section 115JB, 154 IT Appeal No. 612 Of 2009 March 28, 2012 ORDER Sanjiv Khanna, J. – This appeal filed by the Revenue under Section 260 A of the Income Tax Act, 1961 (‘Act’, for short) impugns order dated …

Bombay H.C : Applications for stay of demand. By the first of those orders, the Petitioners are directed to pay 50% of the total demand of Rs. 1.56 crores of which an amount of Rs.35 lacs was to be paid in the month of March and the balance in installments

High Court Of Bombay Rajasthani Sammelan Sarvoday Balika Vidyalaya And Another. vs. Additional Director Of Income Tax Exemption I (1) And Others. Sections 12A, 80G, 11, 143(3), 220(6), 12A, 2(15), 11(1)(d), 220(6) Asst. Year 2008-09 & 2009-10 Dr. D.Y.Chandrachud & M.S.Sanklecha, JJ. W. P. No. 684 OF 2012 26th March, 2012 Counsel Appeared Soli E. Dastur, …

Bombay H.C : Where revenue is adequately protected by provisional attachment levied under section 281B, there is no justification in directing assessee to deposit entire demand of tax within seven days of assessment order

High Court Of Bombay Firoz Tin Factory VS. ACIT Section : 220, 281B Dr. D. Y. Chandrachud And M.S. Sanklecha, Jj. Writ Petition (Lodging) No. 765 Of 2012 March 26, 2012 JUDGMENT DR. D.Y. Chandrachud, J. – These proceedings arise out of the orders passed on 13 March 2012 by the first Respondent and on 19 …
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