Month: July 2014

Allahabad H.C : Whether on basis of an audit report, notice under section 148 could not be issued as such audit report could not be regarded as ‘information’ within meaning of section 147(b)** for purpose of reopening an assessment

High Court Of Allahabad Jagran Prakashan Ltd. Vs. CIT, Kanpur Nagar Section 147, 148 Assessment Year 1997-98 Tarun Agarwala And Dr. Satish Chandra, JJ. Civil Misc. Writ Petition (Tax) No. 276 Of 2001 July 30, 2014 ORDER Tarun Agarwala, J. – The petitioner has filed the present writ petition for the quashing of the notice dated …

Karnataka H.C : An assessee is given the benefit of deduction under Sec.80IB on the assessee satisfying the conditions mentioned in Sub-sec.(2) of Sec.80IB, can the assessee be denied the benefit of the said deduction on the ground that during the said 10 consecutive years, it ceases to be a small scale industry

High Court Of Karnataka Ace Multi Axes Systems Ltd. Vs. DCIT, Circle 11(1) Section : 80-IB Assessment Year : 2005-06 N. Kumar And B. Manohar, JJ. IT Appeal No. 477 Of 2013 July 28, 2014 JUDGMENT 1. The assessee has preferred this appeal against the order passed by the Tribunal affirming the finding recorded by the …

Bombay H.C : A film production unit which was not formed by transfer to a new business of machinery or plant previously used for any purpose, it was entitled to deduction under section 80-IB

High Court Of Bombay CIT-11, Mumbai Vs. Jyoti Prakash Dutta Section : 80-IB Assessment Year : 2007-08 S.C. Dharmadhikari And B.P. Colabawalla, JJ. IT Appeal No. 540 Of 2012 July 25, 2014 ORDER 1. It is unfortunate that the Revenue files Appeals year after year pertaining to the same Assessee and raising the same issues and …

Allahabad H.C : Whether where petitioner garnishee had objected to payment and had filed an affidavit stating that sum demanded or any part thereof was not due to assessee, no further proceeding for recovery could be made against petitioner

High Court Of Allahabad Uttar Pradesh Carbon & Chemicals Ltd. Vs. Tax Recovery Officer Section 226, 292BB Tarun Agarwala And Mahesh Chandra Tripathi, JJ. Civil Misc. Writ Petition (Tax) No. 1140 Of 2008 July 23, 2014 JUDGMENT Tarun Agarwala, J. – We have heard Sri S. P. Gupta, the learned senior counsel assisted by Sri R. …

Bombay H.C : The investment in tax free securities/investments are represented by assessee’s own funds in the shape of share capital and reserves, ignoring the fact that the assessee is a bank involved in transactions of money in various forms and treasury operations is only out of its functions

High Court Of Bombay CIT-2, Mumbai Vs. HDFC Bank Ltd. Section : 14A Assessment Years : 2001-02 To 2005-06 S. C. Dharmadhikari And B.P. Colabawalla, JJ. IT Appeal No. 330 Of 2012 July 23, 2014 JUDGMENT B.P. Colabawalla, J. – This Appeal under section 260A of the Income Tax Act 1961, has been filed by the …

Andhra Pradesh H.C : A contractual liability in terms of agreement between the assessee company and the conversion unit, even though the liability to assessee company arises only when the conversion unit pays the amount to the Central Excise Department

High Court Of Andhra Pradesh CIT Vs. Ampro Products Ltd. L. Narasimha Reddy And Challa Kodanda Ram, JJ. Section 41(1) R.C. No. 111 Of 2001 I T.T.A. No.7 Of 2002 July 22, 2014 JUDGMENT L. Narasimha Reddy, J. – The appeal and reference are interrelated and are in relation to the same assessee and for the …

Madras H.C : Service rendered by non-resident agent could at best be called as a service for completion of export commitment and would not fall within definition of fees for technical services

High Court Of Madras CIT, Chennai Vs. Faizan Shoes (P.) Ltd. Section 9, 40(a)(i) And 195 Assessment Year 2009-10 R. Sudhakar And G.M. Akbar Ali, JJ. T.C. (A) No. 789 Of 2013 July 22, 2014 JUDGMENT R.Sudhakar, J. – The appeal has been filed by the Revenue challenging the order of the Income Tax Appellate Tribunal, …

Gujarat H.C : The ITAT was right in law in upholding the order of the lower authorities in not allowing set off of business loss against income from house property as provided under Section 70 of the Act

High Court Of Gujarat Phelix Appliances Ltd. Vs. ITO, Ward-4 (2) Section : 71 Assessment Year : 2009-10 M.R. Shah And K.J. Thaker, JJ. Tax Appeal No. 639 Of 2014 July 21, 2014 ORDER M.R. Shah, J. – Feeling aggrieved and dissatisfied with the impugned judgment and order passed by the learned Income Tax Appellate Tribunal …
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