Month: February 2016

Karnataka H.C : The assessee had failed to substantiate with documentary proof, the nexus between the acquisition of the property and the funds borrowed from its related party M/s. Tayana Consult Pvt. Ltd

High Court Of Karnataka Pr.CIT – 4 vs. Rajeev Chandrashekar Section : 2(22) Assessment Year : 2008-09 Jayant Patel And Mrs. S. Sujatha, JJ. IT Appeal No. 305 Of 2015 February  23, 2016 JUDGMENT Jayant Patel, J. – The learned Counsel for the appellants-Revenue has submitted the memo for re-framing of questions of law, to which we …

Karnataka H.C : The disallowance of privilege fees in the assessment order is in violation of the powers of the State to have its Statute as per Entry 8 of list-II of Seventh Schedule and being within its powers under Article 245(1) and 246(3)

High Court Of Karnataka Karnataka State Beverages Corpn. Ltd. vs. CIT Section 40(A)(IIB) Assessment Years 2009-10 To 2012-13 Anand Byrareddy, J. Writ Petition Nos. 12872 Of 2013, 14687 Of 2014, 15910 & 17514 Of 2015 (T-It) February 18, 2016 ORDER 1. Heard the learned counsel Shri A. Shankar appearing for the petitioner, the learned Advocate General …

Karnataka H.C : The assessee is eligible to claim accumulation under section 11(2) without appreciating the fact that the requirement of declaring the intention of the assessee to accumulate/set apart certain amount of income which could not be applied in the same assessment year as provided under section 11(2) is mandatory and the same should be spelt out in clear terms in the statutory Form No.10 filed along with the return of income and the assessee is required to invest or deposit such accumulated income in the forms or modes specified in section 11(5)

High Court Of Karnataka CIT, (Exemptions) Bangalore vs. Gokula Education Foundation Section 11 Assessment years 2009-10 and 2010-11 Jayant Patel And Aravind Kumar, JJ. IT Appeal Nos. 300 Of 2015 & 7 Of 2016 February 11, 2016 ORDER Jayant Patel, J. – In both the appeals, the only question which arise for consideration vide order dated …
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