Section 145 – taxcaselaw.com

Madras H.C : Whether on the facts and in the circumstance of the case, the Income Tax Appellate Tribunal was right in law in rejecting the appellant’s valuation of he closing stock of shares on the basis of “since realized value”?

High Court Of Madras P. Amarnath Reddy vs. DCIT Section 145 Asst. Year 2000-01 T.S. Sivagnanam & N.Sathish Kumar, JJ. Tax Case (Appeal) No.979 of 2008 19th November, 2018 Counsel Appeared: Sree Lakshmi Valli for the Petitioner.: T.Ravi Kumar, Senior Standing Counsel for the Respondent. T.S. SIVAGNANAM, J. This appeal, by the appellant/assessee under Section 260A …

Gujarat H.C : The applicability of section 145A of the Act to the petitioner’s method of valuation of closing stock

High Court Of Gujarat Adani Enterprise Limited vs. Assistant Commissioner Of Income Tax Section 145A, 147 Assessment year 2011 12 Akil Kureshi & B.N. Karia, JJ. R/Special Civil Application No. 14446 of 2018 16th October, 2018 Counsel appeared: B S Soparkar for the Petitioner.: Mauna M Bhatt for the Respondent. AKIL KURESHI, J. Petitioner has challenged …

Punjab & Haryana H.C : The payment @ 12% per annum of the amount of compensation paid and recorded as interest in the “Award of Compensation” of the Punjab Government is enhanced/additional compensation ignoring the facts that initial notification was published on 22.4.2010 and competent authority/DFCCIL-cum-district Revenue Officer announced award on 27.2.2012. Thus payment @ 12% has been given for delay in payment which is clearly in the nature of interest

High Court Of Punjab & Haryana CIT (TDS) vs. Dedicated Freight Corridor Corporation Limited Section 145A, 194A, 201(1A) and Section 23(1A) of Land Acquisition Act, 1894 Asst. Year : 2013-14 Ajay Kumar Mittal, ACJ. & Tejinder Singh Dhindsa, J. ITA No.204 of 2017 10th May, 2018 Counsel appeared: Denesh Goyal, Sr. Standing Counsel for the Appellant.: …

Delhi H.C : Whether the ITAT erred in law in confirming the disallowance of the amount of Rs.3,27,83,128/-deposited by the Appellant in its Central Excise Personal Ledger Account (PLA) before 31st March 2000, i.e. the end of the relevant accounting year, even though the Assessee has already incurred liability of excise duty of Rs.12.27 crores?

High Court Of Delhi Maruti Udyog Ltd. vs. CIT Section 37, 43B, 145 Asst. Year 1999-00 S. Muralidhar & Prathiba M. Singh, JJ. ITA No. 31/2005 7th December, 2017 Counsel Appeared: S. Ganesh, Senior Advocate with Kavita Jha, S. Sukumaran, Anand Sukumar, Bhuwan Dhoopar, Roopali Gupta and Bhupesh Pathak, Advocates for the Petitioner.: Ruchir Bhatia, Senior …

Delhi H.C : ‘Income computation and Disclosure Standards’ (ICDS) notified by Central Government in exercise of power under section 145(2) can not override binding judicial precedents or provisions of Act or Rules framed thereunde

High Court Of Delhi Chamber of Tax Consultants Vs. Union of India Section 145 S. Muralidhar And Prathiba M. Singh, JJ. W.P. (C) No. 5595 Of 2017 CM APL No. 23467 Of 2017 November 8, 2017 JUDGMENT Dr. S. Muralidhar, J:â€” Introduction This writ petition by the Chamber of Tax Consultants, (Petitioner No. 1) and Mr. …

Bombay H.C : Gain on account of foreign exchange fluctuation taxable revenue

High Court Of Bombay Ballarpur Industries Ltd. Vs. CIT, Vidarbha Nagpur Section : 9, 145 Assessment Year : 1991-1992 M.S. Sanklecha And Manish Pitale, Jj. It Reference No. 11 Of 2002 August 1, 2017 JUDGMENT M.S. Sanklecha, J. – By this reference under Section 256(1) of the Income Tax Act, 1961 (the Act), the Income Tax …

Madras H.C : The assessee is definitely showing low rate of profits in comparison to the regular civil construction and hence profit can be estimated by the Assessing Officer in the instant case in the absence of regular bills and vouchers

High Court Of Madras Pr.CIT, Chennai vs. Marg Ltd. Section 145 Assessment year 2012-13 Ms. Indira Banerjee, CJ. And M. Sundar, J. Tax Case Appeal No. 302 Of 2017 July Â 20, 2017 JUDGMENT M. Sundar, J.Â – This appeal to the High Court by the Principal Commissioner of Income Tax 4, Chennai (hereinafter referred to as ‘Revenue’ …

S.C : Closing stock was to be valued at market price on the ratio of the decision of the Supreme Court in ALA Firm v. CIT reported in 189 ITR 285 though the business was continued after the dissolution of the firm

Supreme Court Of India CIT, Gujarat-II Vs. Kwality Steel Suppliers Complex Section : 145, 263 Assessment Year : 1993-94 A.K. Sikri And Ashok Bhushan, JJ. Civil Appeal Nos. 815 & 4923 Of 2007 March 21, 2017 JUDGMENT 1. The respondent-assessee was a registered firm engaged in the business of sale of scrap of ship materials. The …

Allahabad H.C : The assessee failed to produce stock registers and supporting evidences in support of applying different rates for valuation of stock for levy and free sale sugar relating to different years during the course of assessment proceeding

High Court Of Allahabad Pr.CIT vs. Kishan Sahkari Chini Mills Ltd. Section 145 Assessment year 2006-07 Bharati Sapru And Saumitra Dayal Singh, JJ. IT Appeal No. 35 Of 2016 March 3, 2017 ORDER Saumitra Dayal Singh, J. – This Income Tax Appeal filed by the Revenue under Section 260-A of the Income Tax Act for the …

Bombay H.C : Revenue has filed this application under Section 256 (2) of the Income Tax Act, 1961 for referring the questions of law stated in the memorandum of application for recording the opinion of the High Court on the same

High Court Of Bombay CIT, Nagpur vs. Vidarbha Tobacco Products (P.) Ltd. Section : 145 Smt. Vasanti A. Naik And V.M. Deshpande, JJ. IT Application No. 46 Of 1997 February 23, 2017 JUDGMENT Smt. Vasanti A. Naik, J. – The applicant – Revenue has filed this application under Section 256 (2) of the Income Tax Act, …

Category: Section 145