Month: July 2018

Karnataka H.C : Reassessment proceedings under Section 147/148 of the Income Tax Act, 1961 for the A.Y. 20/03/2004 could not be undertaken on a mere change of opinion or audit objection raised by the internal auditors of the Department

High Court Of Karnataka CIT & Anr. vs. Gmr Holding Pvt. Ltd. Vineet Kothari & S.Sujatha, JJ I.T.A. No. 58/2012 Section 260A, 147/148, 143(3) Asst. Year 2003-2004 31st July, 2018 Counsel appeared: E.I. Sanmathi, Adv. for the Assessee.: K.S. Ramabadran, Adv.(Absent) for the Revenue JUDGEMENT Revenue has filed this appeal raising purported substantial questions of law …

Gujarat H.C : The assessee’s claim for deduction u/s. 80IA of the Income Tax Act, 1961 for generating power for captive consumption, when the assessee had adopted rate on which the GEB supplied power to its consumers ignoring the rate on which power generating company supplied its power to GEB

High Court Of Gujarat Pr. CIT vs. Gujarat State Fertilizers And Chemicals Ltd M.R. Shah & A.Y. Kogje, JJ. Section 14A and Rule 8D of Income Tax Rules Asst. Year 2008-2009, 2009-2010 R/TAX APPEAL NO. 900 of 2018 With R/TAX APPEAL NO. 901 of 2018 With R/TAX APPEAL NO. 902 of 2018 31st July, 2018 Counsel …

Madras H.C : The ITAT is right in disallowing the claim of agricultural income of the assessee, which having failed to appreciate the evidence available on record by traversing beyond the scope of the records and against the findings given by the various statutory and judicial authorities as also the admissions made in the remand report by the assessing officer

High Court Of Madras B. Jayalakshmi vs. ACIT Section 260A(7), 80-IB Asst. Year 1995-96, 1996-97 & 1997-1998 T.S. Sivagnanam & V. Bhavani Subbaroyan, JJ. Review Application Nos. 88 to 90 of 2014 30th July, 2018 Counsel appeared: R. Krishnamoorthy Senior Counsel for S. Wilson & N. Devanathan for the Petitioner.: M. Swaminathan and V .Pushpa for …

Bombay H.C : The Appellate Tribunal was justified in holding, despite the legal opinion to the contrary, that a Blank Bill of Exchange is a document pregnant with valued and whether such value is the market value of the asset on he va uation date i.e. 31.3.92

High Court Of Bombay Kishindas Ramchand Nagpal vs. Assistant Commissioner Of Wealth Tax And Anr. Section 7 of Wealth Tax Act M.S. Sanklecha & Sandeep K. Shinde, JJ. Income Tax Appeal No. 70 OF 2003 28th July, 2018 Counsel appeared: M.B. Idnani, P.C. Tripathi, Advs. for the Petitioner.: Sham Walve, Adv. for the Respondent. SANDEEP K. …

Andhra Pradesh H.C : Refusal in this regard by the registration authorities was at the behest of the Income-tax Department, which claimed a charge over the immovable property sold

High Court Of Andhra Pradesh Leo Edibles & Fats Limited vs. Tax Recovery Officer (Central) Sanjay Kumar & T. Amarnath Goud, JJ. Writ Petition No. 8560 Of 2018 26th July, 2018 Counsel appeared: S. Niranjan Reddy, Vadeendra Joshi, Raubaina S. Khatoon for the Petitioner.: M. Kiranmayee, Ch.Vedavani for the Respondent SANJAY KUMAR, J. The petitioner companys grievance …

Madras H.C : the appellant had entered into an international transaction within the meaning of Section 92B of the 1961 Act for Compulsory Convertible Debentures (CCD) of the value of Rs.4,60,32,949/-at book interest of 15% per annum in the assessment year

High Court Of Madras Inno Estates Private Limited vs. Dispute Resolution & Anr. Section 246(1)(a), 92B, 143(2) Asst. Year 2012-2013 Indira Banerjee, CJ. & P. T. Asha, J. W.A. No. 1001 of 2018 26th July, 2018 Counsel Appeared: R. Sivaraman for the Appellant.: Hema Muralikrishnan Standing Counsel for the Respondent INDIRA BANERJEE, CJ. 1. This appeal …

Rajasthan H. C : The assessee-company has furnished the detail particulars of the bank accounts, passport, PAN card, addresses and earnings by the shareholder-cum-Director who had invested money in the assessee-company, particularly when the investment was made through banking channel

High Court Of Rajasthan Shreenath Heritage Liquor Pvt Ltd vs. Pr.CIT Section 68, 131, 147, 148 Asst. Year 2011-12 Kalpesh Satyendra Jhaveri & Vijay Kumar Vyas, JJ. D.B. Income Tax Appeal No. 143/2018 25th July, 2018 Counsel appeared: S.L. Poddar for N.L. Agarwal for the Appellant(s) JUDGMENT By way of this appeal, the appellant has challenged …
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