August 2016

Sec. 153A, Sec. 153C, Section 153

Calcutta H.C : All assessments were made under section 143(1) of the I.T. Act, therefore, disallowance as per law were not earlier made. As per section 153(c) of the I.T. Act assessment is to be made afresh and income to be assessed or reassessed. The meaning of reassessment is that that there is no need to resort to section 147 of the I.T. Act and to consider the disallowance in the assessment to be made under section 153 of the I.T. Act

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High Court Of Calcutta CIT, Kolkata-III vs. Veerprabhu Marketing Ltd. Section : 153C, 153A Girish Chandra Gupta And Arindam Sinha,

Sec. 234C

Madras H.C : The Deputy Commissioner of Income Tax, Large Tax Payer Unit, Chennai, respondent herein, disallowed the expenses on amortization of amount paid in respect of leasehold land, disallowance under Section 14A and advertisement expenditure, amounting to Rs.4,47,10,282/-. The assessing officer also charged interest, under Section 234C of the Income Tax Act, 1961, amounting to Rs.86,31,067/-, as against Rs.68,87,057/-, calculated in the return of income.

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High Court Of Madras MRF Ltd. vs. DCIT, Large Tax Payer Unit, Chennai Section 234C Assessment Year 2007-08 S. Manikumar

Section 80-IA

Calcutta H.C : the claim of deduction under section 80IA on profit from capital power unit was allowable notwithstanding the fact that such profit arose from consumption of power generated by the other units of the assessee itself and as such there is no sale to outside party and, therefore, there was no real profit and, as such, claim of deduction was not allowable in law

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High Court Of Calcutta CIT vs. Tata Metaliks Ltd. Section : 80-IA Girish Chandra Gupta And Arindam Sinha, JJ. IT

Section 253

Madras H.C : The Appellate Tribunal is correct in law in not admitting the appeal without properly considering the reasons shown for the said belated filing of the appeal before them, proving perversity in their findings even though the belated filing of the appeal before them was in consequence to the change of auditor and further due to the time taken in pursuing the alternate remedy available under the statute while overlooking the decision of this Hon’ble Court reported in 153 ITR 596

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High Court Of Madras Inderchand D. Kochar vs. ACIT, Central Circle-II(2), Chennai Section : 253 Assessment Year : 2006-07 S.

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