Month: January 2019

Kerala H.C : Whether the Tribunal was correct in having deleted the additions, since the creditworthiness of the donor, to the three partners who are said to have given advances to the firm, had not been established

High Court Of Kerala CIT vs. M/S. Sree Ganesh Trading Company Section 68 K.Vinod Chandran & Ashok Menon, JJ. ITA. No.286 of 2009 31st January, 2019 Counsel Appeared: Jose Joseph, SC, for Income Tax.: Aleena Maria Jose for the Respondent. K. VINOD CHANDRAN, J. The issue arises under Section 68 of the Income Tax Act, 1961 …

Madras H.C : Whether the Appellate Tribunal is correct in law in remitting the case to the file of the Commissioner of Income Tax (Appeals) with a direction to consider the additional ground raised by the assessee with regard to non issue of notice under Section 143(2) by the Assessing Officer before completion of assessment without considering the circumstantial evidence, under which, the Assessing Offi er ould not issue notice under Section 143(2) of the Income Tax Act ?

High Court Of Madras Pr. CIT Central vs. J Jay Tv Pvt. Ltd. Section 142(1), 144 Asst. Year 1995-96 T.S. Sivagnanam & N.Sathish Kumar, JJ. Tax Case Appeal No. 102 of 2019 30th January, 2019 Counsel Appeared: T.R.Senthil Kumar, K.G. Usha Rani for the Petitioner. T.S. SIVAGNANAM, J. This appeal by the Revenue under Section 260A …

Punjab & Haryana H.C : The claim made by the Assessee for deduction under Section 80-IC of the Income Tax Act, 1961 @ 100% instead of 25% for the year under consideration i.e. 8th year on account of substantial expansion to the undertaking is bonafide and does not tantamount to furnishing of inaccurate particulars of income in respect of claim of deduction under Section 80-IC of the Income Tax Act, 1961 within the meaning of Section 271(1)(c)

High Court Of Punjab & Haryana Pr.CIT vs. Virgo Industries Section 80IC, 271(1)(c) Asst. Year 2011-12 Ajay Kumar Mittal & Harnaresh Singh Gill, JJ. ITA No. 242 of 2018 29th January, 2019 Counsel Appeared: Yogesh Putney, Senior Standing Counsel for the revenue This order shall dispose of ITA Nos. 225 & 242 of 2018 as according …

Madras H.C : Whether in the case where a company engaged apart from its regular business in the business of generation and distribution of power, owning more than one industrial undertaking, deduction under Section 80-IA of the Act is to be allowed to single industrial unit or to all the units taken together ?

High Court Of Madras CIT vs. Bannari Amman Sugars Limited Section 80-IA, 80-IB(5) Asst. Year 2004-2005 Dr. Vineet Kothari & Dr. Anita Sumanth, JJ. T.C.(A).No.1045 of 2009 28th January, 2019 Counsel Appeared: T.R. Senthil Kumar, Senior Standing Counsel, K.G. Usharani for the Petitioner : R.Vijayaraghavan, for M/s. Subbarayar Aiyar Padmanabhan for the Respondent. DR.ANITA SUMANTH, J. …

Madras H.C : Whether, on the facts and circumstances of the case, the Tribunal was right in treating the reassessment under Section 147, as time barred?

High Court Of Madras Seshasayee Paper And Boards Limited vs. Union Of India Represented By The Commissioner Of Income Tax And Anr. Section 147, 148 Asst. Year 1995-1996, 1996-1997, 1997-1998 S.M. Subramaniam, J. W.P.Nos.12603, 12604 & 33239 of 2002 25th January, 2019 Counsel Appeared: A.L. Somayaji, Senior Counsel, M.P. Senthil Kumar for the Petitioner.: M/s. A.P. …

Karnataka H.C : There exists any undisclosed income which may belong to any other person other than the searched person under Sections 132 or 132-A

High Court Of Karnataka Shyamraj Singh And SVK Minerals By ITS Managing (Rep.Partner, Mr. Shyamraj Singh) vs. Commissioner Of Deputy Income Tax And Ors. Section 153C Asst. Year 2008-09 S. Sujatha, J. W.P.No.36004/2018 C/W, W.P.No.36005/2018 (T – IT) 24th January, 2019 Counsel Appeared: Vani H., ADV. for the Petitioner.: K.V. Aravind, Adv. for the Respondent. ORDER …

Bombay H.C :The ITAT was justified in treating the gain arising from the sale of capital asset as Long Term Capital Gain without appreciating the fact that mere letter of allotment does not lead to creation of proper and effective right over the capital asset sought to be acquired, but only on execution of an agreement spelling out all the exact terms and conditions for acquisition

High Court Of Bombay Pr.CIT vs. Vembu Vaidyanathan Section 54F Asst. Year 2009-10 Akil Kureshi & M. S. Sanklecha, JJ. Income Tax Appeal No. 1459 OF 2016 22nd January, 2019 Counsel Appeared: Sham Walve for the Appellant.: Dr.K. Shivram, Senior counsel with Rahul Hakani for the Respondent PC. 1. This appeal is filed by the revenue …

Bombay H.C : Assessing Officer can issue a notice of reopening of assessment provided he has reason to believe that income chargeable to tax has escaped assessment

High Court Of Bombay Akshar Builders And Developers vs. Assistant Commissioner Of Income Tax & Anr. Section 147, 148 Asst. Year 2011-12 Akil Kureshi & M. S. Sanklecha, JJ. Writ Petition No. 14490 OF 2018 17th January, 2019 Counsel Appeared: Ritika Agarwal I/b ACE Legal for the Petitioner.: N.C. Mohanty for the Respondent PC. 1. The …

Allahabad H.C : Whether on the facts and circumstances of the case, the ITAT has erred in law and fact by not setting aside the issue of addition of Rs. 3,38,72,852/-on non-genuine purchases to the file of the CIT(A) while the learned ITAT quashed the direction of CIT(A) on the same especially in view of the fact that the ITAT is the ultimate fact finding authority, it should have either settled the issue on the basis of material on record or set aside the matter to the CIT(A) for deciding within the powers vested in it?

High Court Of Allahabad Pr.CIT vs. Meerut Roller Flour Mills (P) Ltd. Section 143(3) Asst. Year 2009-10 Bharati Sapru & Piyush Agrawal, JJ. Income Tax Appeal No. -284 of 2017 17th January, 2019 Counsel Appeared: Manu Ghildyal, Counsel for the Petitioner.: Suyash Agarwal for the Respondent PIYUSH AGRAWAL, J. The present appeal has been filed under …
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