Month: November 2012

Andhra Pradesh H.C : Where only identity of creditor is established but his/her creditworthiness and genuineness of transaction is not proved, addition is to be made for purposes of section 68 cash credits

High Court Of Andhra Pradesh Dr. D. Siva Sankara Rao vs. ITO, Ward-2, Eluru Assessment Year : 2002-03 Section : 68 Goda Raghuram And M.S. Ramachandra Rao, JJ. I.T.T.A.No. 6 Of 2012 November 27, 2012 JUDGMENT M.S. Ramachandra Rao, J. – This appeal is filed under Section 260-A of the Income Tax Act, 1961 (for short ‘the …

Andhra Pradesh H.C : Where TDS certificates were issued in name of joint venture for executing a works contract, in view of failure of joint venture to file return and claim credit for TDS certificates, said credit could be allowed to assessee in capacity of individual co-joint venturer

High Court of Andhra Pradesh CIT-1 Vs. Bhooratnam & Co. Assessment Year : 2004-05 Section : 199 Goda Raghuram And M.S. Ramachandra Rao, Jj. I.T.T. Appeal Nos. 117 And 222 Of 2012 November  23, 2012 JUDGMENT M.S. Ramachandra Rao, J. – The respondent/assessee in I.T.T.A.No.117 of 2012 is M/s. Bhooratnam and Co., a partnership firm engaged in …

Delhi H.C : assessee is not entitled to exemption in case it carries out business activities not incidental to the main aims and objects of the trust which are of charitable nature

High Court Of Delhi CIT Vs. Mehta Charitable Prajnalay Trust Assessment Years : 1992-93 To 1994-95, 2001-02 And 2005-06 To 2007-08 Section : 11 Ravindra Bhat And R.V. Easwar, Jj. It Appeal Nos. 309, 417 Of 2003, 18 Of 2004, 722 Of 2007, 770, 1050 & 1051 Of 2011 November  20, 2012 JUDGMENT R.V. Easwar, J. …

Himachal Pradesh H.C : Amounts received by the assessee from employees for crediting to their accounts in provident fund and ESI, but not so credited on or before the due dates specified under the respective statutes, were allowable deductions under section 36 (1) (va)

High Court Of Himachal Pradesh Commissioner Of Income Tax vs. Nipso Polyfabriks Ltd. Section 36(1)(va), 43(B), 44B, 139 Assessment Year: 2001-02 Deepak Gupta & Rajiv Sharma, JJ. ITA No. 73 of 2008 7th November, 2012 Decision in favour of: Assessee Counsel appeared: Vinay Kuthiala, Senior Advocate, with Vandana Kuthiala, Advocate. for the appellant.: Radhika Suri, Advocate. …

S.C : Since validity of rule 3, which was under challenge, was upheld by Supreme Court in a case, assessee-employee would be revert back to original position insofar as TDS obligation under section 192 read with rule 3 was concerned

Supreme Court Of India Regional Dir. Ongc Ltd. vs. Assn. Of Sc & Tech. Offr. Ongc Ltd. Section : 17(2), 192, 201 A.K. Patnaik And H.L. Gokhale, JJ. Special Leave Petition To Appeal (Civil) Nos. 29719-29720, & 29855-29856 Of 2010 November 7, 2012 ORDER 1. These special leave petitions are directed against the order dated 15th …

Gujarat H.C : Where Assessing Officer passed assessment order accepting capital gain declared on sale of land after taking into consideration all relevant facts, reassessment proceedings could not be initiated merely on basis of change of opinion that income arising from sale of land was taxable as business income

High Court Of Gujarat Ashwamegh Co.Op. Hous. Soc. Ltd., Vibhag 2 VS. DCIT, Circle 9 & 1 Assessment year : 2007-08 Section : 147, 28(i), 45 Akil Kureshi And Ms. Harsha Devani, JJ. Special Civil Application Nos. 12598, 12600 & 12614 Of 2012 November 6, 2012 JUDGMENT Akil Kureshi, J. – These petitions arising in common …
Malcare WordPress Security