Month: January 2015

Delhi H.C : Did the Income Tax Appellate Tribunal (ITAT) err in accepting the assessee/respondent’s plea that “service income” declared for the concerned years was “business income” and not “income from other sources” as argued by the revenue, in the circumstances of the case

High Court Of Delhi CIT-VI vs. Yum Restaurants (I) (P.) Ltd. Section 28(i), 2(24) and 2(13), S. Ravindra Bhat And R.K. Gupta, JJ. IT Appeal Nos. 151, 152 And 158 Of 2012 And 614, 619, 661 & 710 Of 2014 C.M. Appl. Nos. 14478 To 14486 Of 2012 January 30, 2015 JUDGMENT S. Ravindra Bhat, J. …

Bombay H.C : Whether, on the facts and the circumstances of the case, the Tribunal was justified in cancelling the re-assessment order passed under Section 147 and holding the same as bad in law ?

High Court Of Bombay CIT-II vs. Jet Speed Audio (P.) Ltd. Section 36(1)(vii), 147, 148 Assessment Year : 2005-06 M.S. Sanklecha And G.S. Kulkarni, JJ. IT Appeal No.285 Of 2013 January 28, 2015 JUDGMENT 1. This appeal by the Revenue under Section 260A of the Income Tax Act, 1961 (Act) challenges the order dated 22.6.2012 passed …

Punjab & Haryana H.C : The Hon’ble ITAT is correct in confirming the order of CIT(A) deleting the disallowance made under Section 14A read with Rule 8D, on account of interest on loans, on investments earning tax free income in the form of dividend.

High Court Of Punjab & Haryana CIT-I vs. Abhishek Industries Ltd. Section 143(3), 14A, 36(1)(iii) Asst. Year 2004-05 Rajive Bhalla & B.S. Walia, JJ ITA No. 320 of 2013 27th January, 2015 Counsel appeared: Rajesh Katoch, Adv. for the Appellant: Radhika Suri, Sr. Adv. Rinku Dahiya, Adv. for the Respondent. RAJIVE BHALLA, J: The revenue is …

Punjab & Haryana H.C : The Hon’ble ITAT is correct in confirming the order of CIT(A) deleting the disallowance under Section 14A read with Rule 8D, on account of interest on loans, on investments earning tax free income in the form of dividend

High Court Of Punjab & Haryana CIT-I vs. Abhishek Industries Ltd. Rajive Bhalla & B.S. Walia, JJ Asst. Year 2004-05 Section 143(3), 14A, 36(1)(iii) ITA No. 320 of 2013 27th January, 2015 Counsel appeared: Rajesh Katoch, Adv. for the Appellant: Radhika Suri, Sr. Adv. Rinku Dahiya, Adv. for the Respondent. RAJIVE BHALLA, J: The revenue is …

Karnataka H.C : The reasons recorded for reopening of assessments had no nexus and the entire information was available with the Assessing Officer and therefore the reopened assessments was without jurisdiction, invalid and consequently was cancelled

High Court Of Karnataka CIT And Another vs. Mcdowell And Co. Ltd. Section 260-A, 144 Asst. Year 2003-04 N.Kumar & B. Veerappa, JJ. ITA No. 434/2009 23rd January, 2015 Counsel appeared: K V Aravind, Adv., for the Appellant. : S.R. Anuradha, Adv., for the Respondent. JUDGMENT Smt. S.R. Anuradha, learned counsel takes notice to the respondent. …

Kerala H.C : the appellant, whom we hereinafter refer to as the ‘assessee’, is a ‘qualifying company’ in terms of Section 115VC and that it owns at least one ‘qualifying ship’ as defined in Section 115VD

High Court Of Kerala Trans Asian Shipping Services (P.) Ltd. vs. CIT, Ernakulam Section : 115VG Thottathil B. Radhakrishnan And A. Muhamed Mustaque, JJ. IT Appeal Nos. 128 & 129 Of 2012 January 23, 2015 JUDGMENT Thottathil B. Radhakrishnan, J. – Should the ‘slot charter’ operations of a ‘tonnage tax company’ be carried on only in …

Delhi H.C : the petitioner seeks the quashing of the First Proviso to Section 2(15) of the Income-tax Act, 1961 (hereinafter referred to as ‘the said Act’) as amended by the Finance Act, 2008, on the ground that it is arbitrary and unreasonable and has no rational nexus with the object sought to be achieved and is thus violative of Article 14 of the Constitution of India

High Court Of Delhi India Trade Promotion Organization vs. Director General of Income-tax (Exemptions) Section : 2(15), 10(23C) Badar Durrez Ahmed And Vibhu Bakhru, JJ. W.P. (C) No. 1872 Of 2013 January 22, 2015 JUDGMENT Badar Durrez Ahmed, J. – By way of this writ petition (as amended), the petitioner seeks the quashing of the First …

Gujarat H.C : The scrutiny of the return had taken place and, vide order dated November 29, 2010, the assessment order was passed under section 143(3) of the Income-tax Act, 1961

High Court Of Gujarat Gujarat Eco Textile Park Ltd. vs. ACIT Section 32, 148, 147 Assessment Year : 2008-09 Jayant Patel And S.H. Vora, JJ. Special Civil Application No. 18622 Of 2014 January 21, 2015 JUDGMENT Jayant Patel, J. – Rule. Mr. Mehta, learned counsel waives service of notice of rule. With the consent of the …

Bombay H.C : the Tribunal is right in placing reliance on the judgment in the case of ACIT v. M/s. Bhaumik Colours Pvt. Ltd. whereas in the instant case, the assessee is a registered and beneficial share holder of a company that has given loans to a third company that lent these, monies to the Assessee

High Court Of Bombay CIT,Central-IV vs. Jignesh P. Shah Section : 2(22) Assessment Year : 2007-08 M.S. Sanklecha And G.S. Kulkarni, JJ. IT Appeal No.197 Of 2013 January 20, 2015 ORDER 1. This Appeal under Section 260-A of the Income Tax Act, 1961 (the Act), challenges the order dated 8th May, 2012 passed by the Income …

Karnataka H.C : Whether in the facts and circumstances of the case the Tribunal was right in deleting the addition of income from lottery business in the hands of the assessee treating it as HUF’s income and not the assessee on the basis of the Sales Tax Returns filed

High Court Of Karnataka CIT, Mangalore vs. Manish Kumar Pajwani Section 4 Block period 1-4-1990 to 10-11-2000 N. Kumar And B. Veerappa, JJ. IT Appeal No. 1047 Of 2008 January 20, 2015 JUDGMENT N. Kumar, J. – The Revenue has preferred this appeal against the order passed by the Tribunal, which has set-aside the order passed …
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