Month: June 2016

Bombay H.C : the amendment to Sections 147 to 153 of the Act, made with effect from 1st April, 1989 were applicable in judging the validity of the reassessment proceedings taken against the Appellant for the Assessment Year 1983-84

High Court Of Bombay H.R. Mehta vs. ACIT, Mumbai Section : 68 Assessment Year : 1983-84 M.S. Sanklecha And A.K. Menon, JJ. IT Appeal No. 58 Of 2001 June 30, 2016 JUDGMENT A.K. Menon, J. – This appeal under Section 260A of the Income Tax Act, 1961 (the ‘Act’) challenges the order dated 29th September, 2000 …

Calcutta H.C : The rental income received from Spice Cell Ltd. was assessable as business income and not under the head ‘house property’ and in not following its orders for the assessment years 2001-02 and 2002-03

High Court Of Calcutta New Kenilworth Hotel (P.) Ltd. vs. CIT, Kol-III Section 5 Assessment Year 2003-04 Girish Chandra Gupta And Asha Arora, JJ. IT Appeal No. 20 Of 2009 June 23, 2016 ORDER 1. The Court : The appeal is directed against a judgment and order dated 12th September, 2008 passed by the learned Income …

Gujarat H.C : The conclusion reached by the Income Tax Appellate Tribunal that the purchases aggregating to Rs. 3,15,952/- were bogus, is such could be arrived at

High Court Of Gujarat Vijay Trading Co. vs. ITO Section 37(1) Assessment Years 1993-94 To 1996-97 K.S. Jhaveri And G.R. Udhwani, JJ. Tax Appeal Nos. 1245 To 1248 Of 2006 June 22, 2016 JUDGMENT K.S Jhaveri. – Being aggrieved and dissatisfied with the impugned order dated 03.03.2006 passed by the Income Tax Appellate Tribunal, Ahmedabad Bench …

Karnataka H.C : the Tribunal is right in law in relying on Circular No. 9/2002 when the same has been quashed by the Hon’ble Mumbai High Court in the case of Jalgaon District Central Co-operative Bank Ltd.

High Court Of Karnataka CIT, TDS, Bangalore vs. National Co-Operative Bank Ltd. Section : 194A Assessment Year : 2011-12 Jayant Patel And B. Sreenivase Gowda, JJ. IT Appeal Nos. 604, 606 To 610 And 612 To 615 (Bang.) Of 2015 June 21, 2016 JUDGMENT Jayant Patel, J. – In all matters, the appellants-Revenue has preferred the …

Madras H.C : the petitioners filed another application on 10.07.2015 for the same assessment years requesting the Commission to take up the matter and consider the same and this application was rejected by order dated 15.07.2015 and the Commission has stated that the petitioners have re-submitted their applications along with circulars issued by the CBDT

High Court Of Madras Arun Mammen vs. Union Of India Section 245BA T.S. Sivagnanam, J. W.P. Nos. 22216 To 22219 Of 2015 M.P. Nos. 1 To 1 And 2 To 2 Of 2015 June 21, 2016 ORDER 1. Heard Mr. V.T. Gopalan, learned Senior Counsel assisted by Mr. Suhrith Parthasarathy, learned counsel for the petitioner and …

Karnataka H.C : The assessing authority is not right in treating profit derived of Rs.10,66,425/- on sale of shares under the head business income and not under the head capital gains when the assessing authority has rightly treated the same as business income considering the intention of assessee for making profit by making investments in shares and materials on record which disclosed that assessee is a trader in stocks

High Court Of Karnataka Pr. CIT, Bangalore vs. Telestar Investments (P.) Ltd. Section 45 Assessment Year 1997-98 Jayant Patel And B Sreenivase Gowda, JJ. IT Appeal No. 59 Of 2016 June 16, 2016 JUDGMENT Jayant Patel, J. – The appellants-Revenue has preferred the present appeal by raising the following substantial question of law: “Whether on the …

Andhra Pradesh & Telangana H.C : the assessee had committed default in terms of section 201(1) of the Act, and levied interest under section 201(1A) of the Act in respect of the amounts paid under the trade schemes and discounts

High Court Of Andhra Pradesh And Telangana CIT (TDS) vs. United Breweries Ltd. Section : 194H Assessment Years : 2008-09 To 2010-11 Ramesh Ranganathan And M.Satyanarayana Murthy, JJ. ITTA Nos. 633,647 & 666 Of 2015 June 16, 2016 JUDGMENT Ramesh Ranganathan, J. – These appeals, under section 260A of the Income-tax Act, 1961 (for short “the …

Karnataka H.C : The Commissioner was not justified in passing the order u/s. 263 of the Act on the ground that the order of assessment was not erroneous and prejudicial to the interest of the revenue as Assessing Officer has followed one of the permissible views in allowing the deduction of excise duty but without considering the fact that assessee has claimed such deduction twice

High Court Of Karnataka CIT, Bangalore vs. NCR Corporation India (P.) Ltd. Section : 43B, 145A, 263 Assessment Year : 2004-05 Jayant Patel And B. Sreenivase Gowda, JJ. IT Appeal No. 836 Of 2009 June 16, 2016 JUDGMENT Jayant Patel, J. – The present appeal has been admitted vide order dated 10.6.2010 on the following substantial …
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