Category: Section 56

Karnataka H.C : The statute allows exclusion of such expenditure expressly only from the Export Turnover by way of specific definition of export turnover defined in the Act, while there is no specific provision in Section 10A warranting exclusion of the above expenses from the Total Turnover

High Court Of Karnataka Pr.CIT And Anr. vs. M/S Sasken Communication Technologies Ltd. Section 10A, 10A(1), 10A(2), 10A(3), 10A(4), 10A(6), 10B, 56, 80HHC, 80HHE, 260-A and Section 2(18) of Customs Act, 1962 Asst. Year 2005-06 Dinesh Maheshwari, CJ. & S.G. Pandit, J. I.T.A. Nos.44-45 OF 2016 31st October, 2018 Counsel Appeared: E.I. Sanmathi, Adv. for the …

Delhi H.C : Where letting of building together with fixtures, furnitures etc. was a composite one, rental income was to be assessed as income from other sources

High Court Of Delhi Jay Metal Industries (P.) Ltd. vs. CIT-V Section 56 Assessment year 2009-10 Dr. S. Muralidhar And Mrs. Prathiba M. Singh, JJ. IT Appeal No. 308 Of 2016 July  13, 2017 ORDER Dr. S. Muralidhar, J. – The Appellant, Jay Metal Industries Private Limited, has filed an appeal under Section 260A of the Income …

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 …

S.C : the choice of the check period has caused any prejudice or disadvantage to the accused in any manner. Hence, in my view, the period of 5 years selected by the prosecution is reasonably sufficient to give a fair and comprehensive picture of the known source of income and pecuniary resources and property in the possession of the accused so to arrive at a fair decision on the issues involved in this proceedings

Supreme Court Of India State Of Karnataka vs. Selvi J. Jayalalitha Section 139, 56, 68 And 143 Pinaki Chandra Ghose And Amitava Roy, JJ. Criminal Appeal Nos. 300 To 319 Of 2017 February 14, 2017 JUDGMENT Pinaki Chandra Ghose, J. – Leave granted. 2. These appeals project a challenge to the judgment and order dated 11.5.2015 …

Gujarat H.C : Interest received on margin money placed for business purpose cannot be treated as income from other sources and is, therefore, eligible for deduction under section 80-IA

High Court Of Gujarat CIT-IV vs. Shah Alloys Ltd. Section 80-IA, 56 Assessment year 2001-02 K.S. Jhaveri And G.R. Udhwani, JJ. Tax Appeal Nos. 1829 Of 2009, 2092 & 2094 Of 2010 August  8, 2016 JUDGMENT KS Jhaveri, J. – Since the common questions of law arise in this group of appeals, they are being heard and …

Bombay H.C : The Petitioner challenges the notice dated 15 March 2007 issued by the Respondent-Income Tax authorities, under Section 148

High Court Of Bombay Panchratna Co-op. Housing Society Ltd. vs. Assessing Officer 16(3)(1), Mumbai Section 56, 147 M.S. Sanklecha And N.M. Jamdar, JJ. Writ Petition No. 2216 Of 2007 July 16, 2015 JUDGMENT N.M. Jamdar, J. – The Petitioner challenges the notice dated 15 March 2007 issued by the Respondent-Income Tax authorities, under Section 148 of …

Gujarat H.C : The income of Rs.5 lakh received by the assessee towards surrender of sub-tenancy right is a capital gain and is not assessable as casual income as per section 10(3) read with section 56(1) of the Income Tax Act

High Court Of Gujarat Assistant Commissioner Of Income-Tax Vs. G.C. Shah & Co. Sections : 45, 56 Assessment Year : 1992-93 K.S. Jhaveri And K.J. Thaker, JJ. Tax Appeal No. 113 Of 2002 November 5, 2014 JUDGMENT K.S. Jhaveri J. – This is an appeal by the appellant-Revenue, challenging the order of the ITAT, Baroda, Dated …
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