Category: Section 5

Kerala H.C : Where assessee was following mercantile system of accounting, interest accrued to it on fixed deposits was to be brought to tax in relevant year itself even though maturity period or expiry date did not fall in assessment year in question

High Court Of Kerala Pr. CIT, Kottayam vs. Plantation Corporation of Kerala Ltd. Section 5 Assessment year 2009-10 K. Vinod Chandran And Ashok Menon, JJ. IT Appeal No. 121 Of 2016 December 20, 2017 JUDGMENT Ashok Menon, J. – The Revenue has come up on appeal aggrieved by the order of the Income Tax Appellate Tribunal …

S.C : Where assessee, foreign company, had entered into contracts with (ONGC) for giving hire of their rig for carrying out oil exploration activities in India, mobilisation fee received by assessee was to be included for computation of deemed profits and gains of business, chargeable to tax under section 44BB

Supreme Court Of India Sedco Forex International Inc. Vs. CIT, Meerut Section 44BB, 5, 9 A. K. Sikri And Ashok Bhushan, Jj. Civil Appeal Nos. 4906 To 4911, 4913 To 4926, 5934, 5935, 8595 Of 2010,5152 To 5155 Of 2011, 2166, 3695 Of 2012,267-268, 2631, 4543, 8627, 8665, 9188 Of 2013, 5005, 6573, 6651 Of 2014,5015, …

S.C : Where assessee received some amount of enhanced compensation as also interest thereon under an interim order passed by High Court in pending appeals relating to land acquisition, it was liable to be assessed for tax in year in which said amount had been received

Supreme Court Of India CIT, Faridabad vs. Chet Ram (HUF) Section 5 R.K. Agrawal And Dr. D.Y. Chandrachud, JJ. Civil Appeal Nos. 13053 To 13061 Of 2017 SLP (C) Nos. 751,752,761,759,756,753,754,757, & 755 Of 2009 September 12, 2017 ORDER 1. Leave granted. 2. In the present appeals, the only question that arises for consideration is as …

Karnataka H.C : deleting the prima facie adjustment made by the Assessing Officer pertaining to the interest of Rs. 74.75 lakhs accrued on intercorporate loans without realising that the Assessing Officer had full powers to make an adjustment with reference to deductions claimed by the assessee which is at variance in the profit and loss account and balance-sheet filed along with the return

High Court Of Karnataka CIT vs. United Breweries Ltd. Assessment Year : 1997-98 Section : 5 D.V. Shylendra Kumar And N. Ananda, JJ. IT Appeal No. 138 Of 2001 January 4, 2010 JUDGMENT D.V. Shylendra Kumar, J. – This appeal is by the Revenue under section 260A of the Income-tax Act, 1961, against the order of …

Punjab & Haryana H.C : the interest on enhanced compensation was not taxable in the hands of the assessee, Shri Laxman Swaroop Goel as the interest on enhanced compensation had not attained finality as the matter was under dispute before the Hon’ble High Court which finally decided the issue on 17th Nov., 2007

High Court Of Punjab & Haryana CIT vs. Laxman Swaroop Goel Assessment Year : 2005-06 Section : 5 Adarsh Kumar Goel And Ajay Kumar Mittal, JJ. IT Appeal No. 95 Of 2010 October 6, 2010 JUDGMENT Adarsh Kumar Goel, J. – This appeal has been preferred under s. 260A of IT Act, 1961 (hereinafter referred to …

Allahabad H.C : Interest on loans advanced to M/s Marigold Holdings and Trading Company Ltd, and M/s Shivtrishul Finance Limited (now known as Dakshinanchal Finance Limited) by the assessee Company (Formely Renusagar Power Company Limited) accrued from day to day and did not accrue at the end of the accounting year

High Court Of Allahabad Renu Sagar Power Co. Ltd. vs. CIT, Allahabad Section 5 Sudhir Agarwal And Kaushal Jayendra Thaker, JJ. IT Reference No. 14 Of 2001 August 9, 2016 JUDGMENT 1. Heard Sri Vinod Upadhaya, Advocate, assisted by Sri R.S. Agarwal, Advocate, for the Assessee and Sri Shubham Agarwal for Revenue. 2. Income Tax Appellate …

Calcutta H.C : The rental income received from Spice Cell Ltd. was assessable as business income and not under the head ‘house property’ and in not following its orders for the assessment years 2001-02 and 2002-03

High Court Of Calcutta New Kenilworth Hotel (P.) Ltd. vs. CIT, Kol-III Section 5 Assessment Year 2003-04 Girish Chandra Gupta And Asha Arora, JJ. IT Appeal No. 20 Of 2009 June 23, 2016 ORDER 1. The Court : The appeal is directed against a judgment and order dated 12th September, 2008 passed by the learned Income …

Delhi H.C : The agreement dated 1.1.1997 between the assessee and M/s. L.M. Ericsson, Sweden for payment of royalty is contrary to public policy and void under Section 23 of the Contract Act, 1972 and therefore the order and demand under Section 201 and interest levied under Section 201 (1A) of the Income Tax Act, 1961 are liable to set aside and deleted

High Court Of Delhi DIT vs. Ericsson Communications Ltd. Section : 195, 5, 201 Dr. S. Muralidhar And Vibhu Bakhru, JJ. IT Appeal No. 106 Of 2002 September 4, 2015 ORDER Vibhu Bakhru, J. – The Revenue has preferred this Appeal under Section 260A of the Income Tax Act, 1961 (hereafter the ‘Act’) against a common …
Malcare WordPress Security