Month: August 2014

Andhra Pradesh H.C : Whether however, if losses or depreciation are those which are referable to block period, they are liable to be worked out, as though it is a regular assessment as per mandate of section 158BH

High Court Of Andhra Pradesh Mahalaxmi Motors Ltd. Vs. Secretary, Income-Tax Settlement Commission, Chennai Section 158BB Block Period 1985-86 To 31-12-1995 L. Narasimha Reddy And Challa Kodanda Ram, JJ. Writ Petition No. 19623 Of 2002 August 27, 2014 ORDER L. Narasimha Reddy, J. – The petitioner is a dealer in machinery relating to bore-well, at Secunderabad …

Allahabad H.C : the petitioner has prayed for the quashing of the notice dated 23.3.2005 issued under Section 158-BC read with Section 158-BD

High Court Of Allahabad Gyanendra Kumar Jain vs. ACIT, Nazibabad Section 158BD Assessment year 1998-99 Tarun Agarwala And Dr. Satish Chandra, JJ. Civil Misc. Writ Petition (Tax) Nos. 80,152 189,190,1017,1018 & 1019 Of 2006 August 27, 2014 ORDER Tarun Agarwala, J. – In this group of petitions, the petitioner has prayed for the quashing of the …

Andhra Pradesh & Telangana H.C : Whether assessee’s case fitted into clause (2) of Explanation 5 of section 271(1) which brought immunity to assessee and, hence, penalty was not to be levied

High Court Of Andhra Pradesh And Telangana L. Giridharlal & Co. Vs. ITO Section 271(1)(C), 69A, 271 Assessment Year : 1986-87 L. Narasimha Reddy And Challa Kodanda Ram, JJ. IT Tribunal Appeal No. 122 Of 2002 August 26, 2014 JUDGMENT L. Narasimha Reddy, J. -The appellant is a partnership firm, undertaking business in bullion and jewellery …

Andhra Pradesh H.C : Whether where Commissioner did not dispute classification of land, as agricultural land, there was no way that he could traced income of assessee to any other event other than one of transfer of agricultural land and therefore, assessee was to be exempted from capital gain tax

High Court Of Andhra Pradesh CIT Vs. A. Vijay Kumar Section 2(47), 263 Assessment Year 1995-96 L. Narasimha Reddy And Challa Kodanda Ram, JJ. I.T.T.A. No. 5 Of 2003 August 26, 2014 JUDGMENT L. Narasimha Reddy, J. – The respondent is an assessee. For the assessment year 1995-96, he declared the taxable income at Rs.1,33,770/-. He …

Delhi H.C : Where expenditure is revenue in nature, it can be claimed as deduction under section 37 regardless of treatment given to said expenditure in assessee’s books of account

High Court Of Delhi CIT-IV vs. Gaja Advisors (P.) Ltd. Section 37(1) Sanjiv Khanna And V. Kameswar Rao, JJ. IT Appeal No. 453 Of 2014 August  25, 2014 JUDGMENT 1. This appeal by the revenue in the case of Gaja Advisors (P) Ltd. relates to the Assessment Year 2006-2007. 2. The respondent-assessee had filed return declaring …

Madras H.C : the Tribunal was correct in deleting the disallowance made by the assessing officer towards export commission paid by the assessee to the non resident on which it failed to deduct tax at source

High Court Of Madras CIT, Coimbatore Vs. Kikani Exports (P.) Ltd. Section : 9, 195 Assessment Year : 2008-09 R. Sudhakar And G.M. Akbar Ali, JJ. T. C. (A.) No. 402 Of 2014 August 25, 2014 JUDGMENT R. Sudhakar, J. – The appeal has been filed by the Revenue challenging the order of the Income Tax …

Delhi H.C : the estimate of 15% fixed in its earlier orders as attributable to the assessee’s income arising in India, is inapplicable to the assessment years in question for the reasons mentioned in its impugned order

High Court Of Delhi Galileo Nederland BV Vs. Assistant Director Of Income-Tax, Circle-1(2), (Intl. Tax), New Delhi Section 9 Assessment Years 2003-04 To 2006-07 Sanjiv Khanna And V. Kameswar Rao, JJ. IT Appeal Nos. 654,656,659 & 661 Of 2012 August 25, 2014 ORDER Sanjiv Khanna, J. – This common judgment will dispose of appeals filed by …

Delhi H.C : Assessee has discharged the onus of proving the identity and credit-worthiness of the share subscriber and the genuineness of the subscription

High Court Of Delhi CIT Vs. Navodaya Castles (P.) Ltd. Section 68 Assessment Year 2002-03 Sanjiv Khanna And V. Kameswar Rao, JJ. IT Appeal No. 320 Of 2012 August 25, 2014 ORDER Sanjiv Khanna, J. – Revenue in this appeal, which relates to assessment year 2002-03, has raised the following substantial question of law:— “Whether the …
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