Sec. 143(3), Income Tax Case Laws

Madras H.C : The loss incurred from the transactions relating to the mutual fund units as a ‘capital loss’ based on the treatment given in the books of account as against the claim of ‘revenue loss’ even tough nomenclature in the books of account would not be decisive factor/test to ascertain the intention of the assessee

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High Court Of Madras Calibre Financial Services Limited vs. ITO Section 143(3) Asst. Year 2001-02 T.S.Sivagnanam & V.Bhavani Subbaroyan, JJ. […]

Section 143, Income Tax Case Laws, Sec. 143(3)

Kerala H.C : The Tribunal erred in finding no adventure in the nature of trade when there were purchases made of properties steadily over a period and a transaction of sale carried out in the subject assessment year leading to a clear presumption of ’adventure in the nature of trade’ as contemplated under Section 2(13) of the Income Tax Act, 1961

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High Court Of Kerala Pr.CIT vs. John Poomkudy Section 143(3) Asst. Year 2008-09 K.Vinod Chandran & Ashok Menon, JJ. I.T.A.No.113

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