Month: June 2017

Calcutta H.C : Four purchase Bills which had not been entered in the regular books of accounts of the assessee is to be treated as business income of the assessee.

High Court Of Calcutta CIT, Durgapur vs. Shib Sankar Das Section 69B Assessment year 2008-09 Aniruddha Bose And Arindam Sinha, JJ. G.A. No. 1689 Of 2016 ITAT No. 215 Of 2016 June  29, 2017 JUDGMENT Arindam Sinha, J. – The Revenue seeks to prefer appeal against order dated 2nd December, 2015 passed by the Income Tax Appellate Tribunal, …

Bombay H.C : Whether the transaction in question, i.e., sale of shares of Indian Subsidiary to the Singapore based company was in principle taxable in India or not.

High Court Of Bombay CIT, Central-III, Mumbai vs. Lavanya Land (P.) Ltd. Section 69C, 153C Assessment Year : 2009-10 S.C. Dharmadhikari And Prakash D. Naik, JJ. IT Appeal Nos. 72,114,122,124,225,226,423,425 & 426 Of 2014 June 23, 2017 JUDGMENT Sanjay Kumar, J. – The two appeals by the revenue under Section 260A of the Income-tax Act, 1961 (for …

Madras H.C : Where DRP chooses to reject objections filed by assessee either on merits or on ground of delay, it would itself constitute a direction to Assessing Officer to complete assessment in accordance with draft order as contemplated under section 144C(5)

High Court Of Madras Inno Estates (P.) Ltd. Vs. Dispute Resolution Panel-2, Bengaluru Section 92C, 144C Assessment year 2012-13 Ravichandrabaabu, J. Writ Petition No. 1787 Of 2017 WMP No. 1772 Of 2017 June  14, 2017 ORDER 1. This writ petition is filed challenging the order of the 1st respondent dated 10.11.2016 and consequential order of the 2nd …

Gujarat H.C : Where Assessing Officer opined that profit earned by assessee from sale of leasehold land was taxable as capital gain, since there was no failure on part of assessee to disclose all material facts, Assessing Officer could not initiate reassessment proceedings merely on basis of change of opinion that amount in question was liable to be taxed as ‘income from other sources’

High Court Of Gujarat Radhawami Salt Works Vs. Assistant Commissioner of Income-tax Section 45, 56, 147 Assessment year 2010-11 Akil Kureshi And Biren Vaishnav, JJ. Special Civil Application Nos. 16644 & 16649 Of 2012 June 14, 2017 JUDGMENT Akil Kureshi, J. – These petitions arise in similar background. We may record leading facts from Special Civil …

Gujarat H.C : The ITAT was justified in deleting interest u/s. 234B and 234C of the I.T.Act by holding that same would not have been charged on the assessee on account of increase in total income resulting from retrospective amendment to section 43(6) of the Act without appreciating that charging of interest u/s. 234B and 234C of the I.T Act is mandatory

High Court Of Gujarat CIT, Vadodara-2 vs. National Dairy Development Board Section 234B,208, 219, 234C Assessment year 2008-09 Akil Kureshi And Biren Vaishnav, JJ. Tax Appeal No. 361 Of 2017 June 14, 2017 ORDER Akil Kureshi, J. – Tax Appeal is admitted for consideration of following substantial questions of law:— “1 Whether on the facts and circumstances …

Gujarat H.C : The petitioner filed return of income in response to notices issued by the department under Section 153A

High Court Of Gujarat Manojkumar Babulal Agrawal vs. Secretary & Anr. Section 153A, 245C(1) Asst. Year 2007-2008 to 2013-2014 Akil Kureshi & Biren Vaishnav, JJ. Special Civil Application No. 5116 of 2017 13th June, 2017 Counsel Appeared: S.N. Soparkar, Senior Counsel, B S Soparkar, Advocate for the Petitioner.: Manish Bhatt, Senior Counsel, Mauna M Bhatt, Advocate …

Gujarat H.C : The Settlement Commission (‘the Commission’ for short) under section 245D of the Income Tax Act, 1961, accepting offer of settlement made by the respondents and granting immunity from prosecution and penalty

High Court Of Gujarat Pr.CIT vs. Income Tax Settlement Commission & Anr. Section 245D(4) Asst. Year 2012-13 to 2014-15 Akil Kureshi & Biren Vaishnav, JJ. Special Civil Application No. 1733 of 2017 TO 1736 of 2017 13th June, 2017 Counsel Appeared: Manish Bhatt, Advocate with Mauna M Bhatt, Advocate for the Petitioner.: S N. Soparkar, Senior …

Gujarat H.C : the ingredients of Sec. 41 are not satisfied inasmuch as the appellant has not claimed any deduction or allowance in respect of the trading liability and the said trade liability has not ceased to exist during the A.Y.-2012-13 and therefore, the amount could not be added in the income under Section 41 of the Income Tax Act

High Court Of Gujarat Gujtron Electronics (P.) Ltd. Vs. ITO Section : 41(1) Assessment Year : 2012-2013 Akil Kureshi And Biren Vaishnav, JJ. Tax Appeal No. 462 Of 2017 Civil Application (OJ) No. 511 Of 2017 July  12, 2017 ORDER Akil Kureshi, J. – Appellant is aggrieved by the judgment of the Income Tax Appellate tribunal dated …

Bombay H.C : The transaction of transfer of shares by the assessee company in pursuance of family arrangement amounted to transfer and was exigible to capital gains tax

High Court Of Bombay B.A. Mohota Textiles Traders (P.) Ltd. vs. DCIT, Special Range – 2 Section 2(47), 45 Assessment year 1995-96 M.S. Sanklecha And Manish Pitale, JJ. IT Appeal No. 73 Of 2002 June 12, 2017 JUDGMENT M.S. Sanklecha, J. – This appeal under Section 260A of the Income Tax Act, 1961 (Act) challenges the order …

Madhya Pradesh H.C : The applications for stay of demand under Section 220 (6) of the Income Tax Act has been disposed of by the learned Additional Commissioner, Range-3, Indore

High Court Of Madhya Pradesh (Indore Bench) Madhya Pradesh Audyogik Kendra Vikas Nigam Ltd. vs. ACIT & Anr. S.C.Sharma & Rajeev Kumar Dubey, JJ. Section 220 (6) Asst. Year 2011-12, 2012-13 WP-7779-2016 12th January, 2017 Counsel appeared: Sarvesh Shrivastava for the Petitioner. ORDER: Partlies through their counsel. Regard being had to the similitude in the controversy …
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