December 2014 - Page 3 of 4

Andhra Pradesh H.C : the assets were transferred by the firm, the consideration in the form of transfer of shares was paid to the partners and the net result was that the appellant did not receive any consideration at all

Avijit Das / December 9, 2014

High Court Of Andhra Pradesh Ana Labs vs. DCIT Section 47, 45, 48 Block period 1988-89 to 1997-98 L. Narasimha […]

Kerala H.C : Fourteenth proviso to section 10(23C)(via) was not applicable to assessment years 2005-06 and 2006-07 where previous years relevant to said assessment years had already expired by 1-1-2006 before introduction of said proviso and, hence, assessee would be entitled for extension of benefit granted under section 10(23C)(via) for said years

Avijit Das / December 9, 2014

High Court Of Kerala Marthoma Medical Mission Vs. CCIT, Thiruvananthapuram Assessment Years 2005-06 To 2007 Section 10(23C)(Via) A.K. Jayasankaran Nambiar,

Sec. 2(22)

Allahabad H.C : Where lending of money was not part of business of lending companies, loan/advance given to assessee-shareholder would be treated as deemed dividend under section 2(22)(e)

Avijit Das / December 9, 2014

High Court Of Allahabad Shashi Pal Agarwal Vs. CIT, Kanpur Section : 2(22) Assessment Year : 2007-08 Dr. Dhananjaya Yeshwant

Sec. 41(1), Section 38

Bombay H.C : Where assessee made premature payment of deferred sales tax at Net Present Value against total liability and credited balance amount to its capital reserve account, same could not be remission or cessation of a trading liability under section 41(1)

Avijit Das / December 5, 2014

High Court Of Bombay CIT-8, Mumbai Vs. Sulzer India Ltd. Section 41(1), 38 S.C. Dharmadhikari And A.K. Menon, JJ. IT

Sec. 245BA, Income Tax Case Laws

Delhi H.C : Chairman (ITSC) vide an administrative order cannot nullify order passed in exercise of statutory powers under RTI Act

Avijit Das / December 5, 2014

High Court Of Delhi R.K. Jain Vs. Chairman, Income Tax Settlement Commission Section : 245BA Vibhu Bakhru, J. W.P. (C)

Section 119, Section 139

Bombay H.C : filing of returns was only on account of misplacement of TDS certificates which was to be necessarily filed along with return of income, order by CBDT refusing to condone delay was to be set aside

Avijit Das / December 3, 2014

High Court Of Bombay Artist Tree (P.) Ltd. Vs. Central Board Of Direct Taxes Assessment Year : 1997-98 Section :

Section 11

Delhi H.C : “Further utilization” in Form No. 10 read with Rule 17 of the Income Tax Rules, 1962 the Assessee has fulfilled its obligation as required under Section 11 (2)

Avijit Das / December 3, 2014

High Court Of Delhi Director Of Income-Tax (Exemption) Vs. NBIE Welfare Society, New Delhi Section : 11 Assessment Year :

Section 80HHC

Andhra Pradesh And Telangana H.C : The claims of the respondent, referable to section 80HH, section 80HHC and section 80-I of the Act were not accepted by the Assessing Officer

Avijit Das / December 2, 2014

High Court Of Andhra Pradesh And Telangana CIT vs. Godavari Drugs Ltd. Section 80HHC Assessment Year 1994-95 L. Narasimha Reddy

Sec. 28(i), Section 263, Section 45

Madras H.C : The consideration received by the appellant for transfer of goodwill was taxable as ‘profits and gains of business’ under section 28(ii)(c) of the Income-tax Act and not under the head ‘Capital gains’

Avijit Das / December 2, 2014

High Court Of Madras Chakiat Agencies (P.) Ltd. Vs. ACIT Section 28(i), 45, 263 Assessment Year 2001-02 R. Sudhakar And

Sec. 271(1)(c ), Sec. 28(i)

Delhi H.C : The assessee had discharged the onus cast upon it under Explanation 1 to section 271(1)(c) of the Income-tax Act

Avijit Das / December 1, 2014

High Court Of Delhi CIT Vs. NG Technologies Ltd. Section : 271(1)(C), 28(i) Assessment Year : 2006-07 Sanjiv Khanna And