Month: September 2014

Calcutta H.C : The language and provisions of Section 271(1)(c) which only talks of initiation of penalty in “course of any proceedings” and there is no condition in the language of the Section which calls for recording of satisfaction before initiation of u/s 271(1)(c)

High Court Of Calcutta Debashis Moulik Vs. ACIT Section : 40(a)(ia), 143, 147, 148 And 194J Assessment Year : 2009-10 I.P. Mukerji, J. W.P. No. 1174 Of 2013 September 29, 2014 JUDGMENT 1. Sections 147 and 148 of the Income-tax Act, 1961, and the judgment of the hon’ble Supreme Court of India in GKN Driveshafts (India) …

Allahabad H.C : Where no return of income has been furnished by the assessee although his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax

High Court Of Allahabad Amar Nath Agrawal vs. CIT Section 2(29B), 45 and 148 Assessment year 2000-01 Tarun Agarwala And Dr. Satish Chandra, JJ. Civil Misc. Writ Petition (Tax) No. 1492 Of 2007 September 26, 2014 ORDER Tarun Agarwala, J. – By means of this writ petition, the petitioner Sri Amar Nath Agrawal is challenging the …

Bombay H.C : Assessing Officer rejected assessee’s claim for depreciation in respect of certain lease transactions on ground that said transactions were not genuine

High Court Of Bombay CIT Vs. Indusind Bank Ltd. Section 271(1)(C), 32 S.C. Dharmadhikari And A.K. Menon, JJ. IT Appeal No. 1293 Of 2012 September 24, 2014 JUDGMENT 1. We have heard Mr. Vimal Gupta, learned senior counsel, appearing for the Revenue in support of this appeal. We have heard Mr. Shah, learned counsel, appearing for …

Rajasthan H.C : All assets belonging to kala kendra were transferred to assessee by State Government, merely because title had not been transferred or properties had not been registered in name of assessee under Indian Registration Act, 1908, depreciation could not be disallowed

High Court Of Rajasthan CIT, Jaipur-II Vs. Jawahar Kala Kendra Section 32, 271(1)(C) Assessment Year 2005-06 Ajay Rastogi And J. K. Ranka, JJ. D.B. IT Appeal No. 60 Of 2014 September 18, 2014 JUDGMENT J.K. Ranka, J. – Instant appeal u/s 260-A of the Income Tax Act, 1961 (for short, IT Act) is directed against the …
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