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Section 56

Section 28, Section 56

Calcutta H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was justified in treating income from interest on fixed and other deposits as income from ‘Business’ and not as income from ‘Other sources’ and, in that view, was correct in directing that the revenue expenditure made in setting up of a plant at Sonepat should be deducted from the same in computing the income/loss for the asst. yr. 1976-77 ?

Avijit Das / January 9, 1991

High Court Of Calcutta CIT vs. Tirupati Woollen Mills Ltd. Sections 28, 56 Asst. Year 1976-77 Ajit K. Sengupta & […]

Sec. 256(2), Section 256, Section 32, Section 56

Delhi H.C : Whether, on the facts and in the circumstances of the case, the Tribunal is correct in law in confirming the order of the CIT (Appeals), in directing the ITO to set off the unabsorbed depreciation carried forward from earlier years against the income from other sources of the current year when the business stood discontinued ?

Avijit Das / April 16, 1990

High Court Of Delhi CIT vs. Premier Cushions Pvt. Ltd. Sections 32, 56, 256(2) B.N. Kirpal, & C.L. Chaudhry, JJ.

Madras H.C : Whether there is any material for the Tribunal to hold that the assessee had paid a sum of Rs. 40,000 out of Rs. 2,30,000 as commission for repatriation ?

Avijit Das / February 20, 1990

High Court Of Madras S.R. Lakshmanan vs. CIT Sections 56 Asst. Year1972-73 Ratnam & Thanikkachalam, JJ. Tax Cases Nos. 1008

Section 56, Section 57, Section 58, Section 59

Bombay H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the interest income amounting to Rs. 2,85,495 taxed on accrual basis and subsequently written off as bad debt is an admissible deduction under the head `Income from other sources’ ?

Avijit Das / September 26, 1989

High Court Of Bombay CIT vs. Byramjee Jeejeebhoy (P) Ltd. Sections 56, 57, 58, 59 Asst. Year1970-71 S.P. Bharucha, &

Calcutta H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that out of the total unexplained cash credits of Rs. 4,19,300 appearing in the company’s business books for the relevant accounting period, the sum of Rs. 1,50,000 credited on the first day of its existence on incorporation represented its income from ‘other sources’ and not from ‘business’ ?

Avijit Das / February 21, 1989

High Court Of Calcutta Basantipur Tea Co. (P) Ltd. vs. CIT Section 56 Asst. Year 1966-67 Suhas Chandra Sen &

Section 28, Section 56

Calcutta H.C : Whether, on the facts and in the circumstances of the case and on a proper construction of the relevant deed of lease, the Tribunal was right in holding that the income of the assessee from lease of its jute mill was assessable under s. 28 of the IT Act, 1961, and not under s. 56 thereof ?

Avijit Das / February 21, 1989

High Court Of Calcutta CIT vs. Premchand Jute Mills Ltd. Sections 28, 56 Asst. Year 1963-64 Suhas Chandra Sen &

Section 143, Section 29, Section 56, Section 71

Punjab & Haryana H.C : The assessee had not carried on its main object and the object of lending money was only an ancillary object, and, therefore, treated the income by way of interest under the head “other sources” and not as business income

Avijit Das / December 19, 1988

High Court Of Punjab & Haryana Batra Films (P) Ltd. vs. CIT Sections 29, 143, 56, 71 Asst. Year 1977-78

Section 22, Section 28, Section 56

Andhra Pradesh H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the income derived from the letting out of sheds owned by the assessee should be assessed as income from business ?

Avijit Das / November 19, 1987

High Court Of Andhra Pradesh CIT vs. A.P. Industrial Infrastructure Corporation Ltd. Sections 28, 22, 56 B.P. Jeevan Reddy &

Section 4, Section 56, Section 57

Andhra Pradesh H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the amount of Rs. 15,092 should not be considered for being taxed as revenue but had to be set off against interest payment of Rs. 7,79,297 and the balance alone had to be capitalised ?

Avijit Das / November 18, 1987

High Court Of Andhra Pradesh CIT vs. Nagarjuna Steels Ltd. Sections 4, 56, 57(iii) Asst. Year 1977-78 B.P. Jeevan Reddy

Sec. 10(3), Section 4, Section 56

Patna H.C : Whether, on the facts and in the circumstances of this case, the sum of rs. 20,856 Received by way of interest by the assessee should be taxed under s. 28 As business income or under s. 56 As income from ‘other sources’ ?

Avijit Das / October 21, 1987

High Court Of Patna Bokaro Steel Ltd. vs. CIT Sections 56, 4, 10(3) Asst. Year 1972-73 Uday sinha & s.B.

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