Month: June 2013

Madhya Pradesh H.C : Where method adopted by assessee for computing book profit under section 115JB was considered in scrutiny assessment, in absence of any new material before Assessing Officer, reopening of assessment on said issue was not valid

High Court Of Madhya Pradesh CIT, Bhopal Vs. Fujistu Optel Ltd. Assessment Years : 2001-02 And 2002-03 Section : 115JB, 147 Krishn Kumar Lahoti, ACTG. CJ. And M.A. Siddiqui, J. IT Appeal Nos. 80 & 81 Of 2012 June 28, 2013 ORDER Krishn Kumar Lahoti, Actg. CJ. – As the facts of both the cases are …

Madras H.C : Whether on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in holding that the block assessment made on the appellant under section 158BC of the Income Tax Act, 1961 is valid in law and in accordance with the provisions of Chapter XIVB of the Act?

High Court Of Madras Ramaiah vs. CIT, Chennai Block Period : 1986-87 To 1996-97 Section : 158BD, 132, 158BC, 158BE, 292B Elipe Dharma Rao And M. Venugopal, JJ. Tax Case (Appeal) No. 123 Of 2005 June  26, 2013 JUDGMENT Elipe Dharma Rao, J. – The appellant Ramaiah is carrying on real estate business as a property developer …

Madras H.C : Whether the ITAT has erred in considering an issue, which has attained finality and not been challenged by the respondent in their appeal before the ITAT?

High Court Of Madras RR Industries Ltd. vs. ITO (OSD), Co. Circle V(4), Chennai Assessment Year : 2002-03 To 2008-09 Section : 254 Mrs. Chitra Venkataraman And Ms. K.B.K. Vasuki, JJ. Tax Case (Appeal) Nos. 139 To 145 Of 2012 M.P. No. 1 Of 2012 June  26, 2013 JUDGMENT Mrs. Chitra Venkataraman, J. – The above Tax …

Gujarat H.C : Where assessee’s own funds exceeded investment made to earn exempted income, and borrowed funds had not been used for investments, disallowance of 10 per cent of dividend income was impermissible

High Court Of Gujarat CIT-I Vs. Gujarat State Fertilizers & Chemicals Ltd. Assessment Year : 2004-05 Section : 14A, 115JB, 37(1), 28(iv), 41(1) M.R. Shah And Ms. Sonia Gokani, JJ. Tax Appeal No. 126 Of 2013 June 25, 2013 ORDER Ms. Sonia Gokani, J. – Aggrieved by the order of the Income-tax Appellate Tribunal, Ahmedabad (hereinafter …

Gujarat H.C : Where Assessing Officer had reopened assessment of assessee after a period of four years from end of relevant assessment year for reason that book profit was under assessed, since in reasons recorded there was no mention at all of assessee having not disclosed fully or truly material facts which were necessary for purpose of computing income, reopening of assessment lacked validity

High Court Of Gujarat Gujarat Lease Financing Ltd. vs. DCIT, Circle -4, Ahmedabad Assessment Year : 2005-06 Section : 115JB, 147 M.R. Shah And Ms. Sonia Gokani, Jj. Special Civil Application No. 3048 Of 2013 June  24, 2013 Mrs. Sonia Gokani, J. – This writ petition, preferred under Article 226 of the Constitution of India, challenges …

Gujarat H.C : Where Assessing Officer had reopened assessment of assessee after a period of four years from end of relevant assessment year for reason that book profit was under assessed, since in reasons recorded there was no mention at all of assessee having not disclosed fully or truly material facts which were necessary for purpose of computing income, reopening of assessment lacked validity

High Court Of Gujarat Gujarat Lease Financing Ltd. vs. DCIT, Circle -4, Ahmedabad Assessment Year : 2005-06 Section : 115JB, 147 M.R. Shah And Ms. Sonia Gokani, JJ. Special Civil Application No. 3048 Of 2013 June  24, 2013 JUDGMENT Mrs. Sonia Gokani, J. – This writ petition, preferred under Article 226 of the Constitution of India, challenges …
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