174 ITR – taxcaselaw.com

S.C : Whether both the conditions mentioned in cl. (a) and cl. (b) of s. 79 must apply for disentitling the loss of a prior year being allowed as set off in accordance with the substantive provisions of s. 79 of the IT Act, 1961 ?

Supreme Court Of India CIT vs. Italindia Cotton Co. (P) Ltd. Section 79 R.S. Pathak, C.J. & Sabyasachi Mukherji, J. Civil Appeal No. 1520 of 1986 5th September, 1988 Counsel Appeared V.S. Desai with M/s. A. Subhashini, for the Appellant : Harish Salve, Mrs. A.K. Verma & Joel Peres, for the Respondent R.S. PATHAK, C.J.: This …

S.C : In view of the decision of this Court in Sunil Siddharthbhai vs. CIT (1985) 49 CTR (SC) 172 : (1985) 156 ITR 509 (SC), the first question referred to the High Court, as mentioned in the order of the High Court under appeal, is answered in favour of the assessee and in the affirmative.

Supreme Court Of India Dhirajben R. Amin & Anr. vs. CIT & Anr. Sections 45, 48 Sabyasachi Mukharji & S. Ranganathan Civil Appeal No. 413 of 1985 22nd August, 1988 Counsel Appeared K.H. Kaji with him Kailash Vasdev, for the Appellants : S.C. Manchanda with him Miss A. Subhashini, for the Respondents BY THE COURT : …

Karnataka H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the reassessment proceedings under s. 147 were validly initiated ?

High Court Of Karnataka Abdul Sattar M. Mokashi vs. CIT Sections 147(1), 4, 251 Asst. Year1971-72, 1972-73, 1973-74 S.A. Hakeem & S. Rajendra Babu, JJ. IT Ref. Cases Nos. 160, 161 & 162 of 1982 12th August, 1988 Counsel Appeared Prasad & A.A. Kulkarni, for the Applicant : K. Srinivasan & H. Raghavendra Rao, for the …

Delhi H.C : The dispute is regarding its liability to pay the advance tax for the asst. yr. 1988-89 corresponding to financial year ending 31st March, 1988.

High Court Of Delhi J.K. Synthetics Limited vs. Income Tax Officer & Ors. Sections 209A, 212, 2(45), 218, 221 Asst. Year 1988-89 Rabindra Nath Pyne, C.J. & G.C. Jain, J. CWP No. 382 of 1988 5th August, 1988 Counsel Appeared Soli J. Sorabjee with Anurag Chopra & D.N. Khanna, for the Petitioner : D.K. Jain & …

Appellate Tribunal For Forfeited Property : This is an appeal under s. 12 of the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 (hereinafter referred to as the “Act”), against an order of the Competent Authority, Madras, made under s. 7 r/w s. 9 of the Act, on 27th April, 1987.

Appellate Tribunal For Forfeited Property P. T. Syed Ibrahim vs. Competent Authority D. R. Khanna, J. (Chairman) & M. A. Twigg & G. R. Patwardhan (Members) FPA No. 14 (Mad) of 1988 14th July, 1988 Counsel Appeared Mrs. Chitra Venkataraman, for the Petitioner : S. C. Yadav, for the Respondent D. R. KHANNA, J. (CHAIRMAN): This …

Andhra Pradesh H.C : Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in directing that the provisions made for leave with wages will be allowed as deduction allowed on the basis of actual payments would be appropriately adjusted ?

High Court Of Andhra Pradesh CIT vs. Sileman Khan Mahabub Khan Section 37(1) Asst. Year 1976-77 B.P. Jeevan Reddy & Y. Bhaskar Rao, JJ. Refd. Case No. 26 of 1986 12th July, 1988 Counsel Appeared M. Suryanarayana Murthy & A.V. Krishna koundinya, for the Revenue : A. Satyanarayana, for the Assessee BHASKAR RAO, J.: In this …

Calcutta H.C : Whether, on the facts and in the circumstances of the case, the assessee is entitled to deduction of Rs. 5,000 as contemplated under s. 80T of the IT Act, 1961, from the long-term capital gains of Rs. 5,864 before the same are set off against the short-term capital loss of Rs. 7,792?

High Court Of Calcutta CIT vs. B.K. Birla Sections 45, 48, 70, 80T Asst. Year 1971-72 Ajit K. Sengupta & K.M. Yusuf, JJ. IT Ref. No. 118 of 1979 12th July, 1988 Counsel Appeared R.N. Bajoria, for the Assessee : S.K. Chakraborty, for the Revenue AJIT K. SENGUPTA, J.: At the instance of the CIT, the …

Andhra Pradesh H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in directing that the unabsorbed depreciation not set-off in the partners’ respective accounts in the earlier year should be given set-off against the income of the assessee-firm in the subsequent assessment year ?

High Court Of Andhra Pradesh CIT vs. Srinivasa Sugar Factory Sections 32(2), 72(2) Asst. Year 1977-78 B.P. Jeevan Reddy & Y. Bhaskar Rao, JJ. R.C. Nos. 202 of 1983 & 28 of 1986 12th July, 1988 Counsel Appeared M. Suryanarayana Murthy & A.V. Krishna Koundinya, for the Revenue: Y. Ratnakar, for the Assessee BHASKAR RAO, J. …

Allahabad H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that additional wealth-tax is not chargeable on the value of the interest of the assessee partner in the firms, New Cawnpore Flour Mills and Nagarmal & Co., the assets of which include urban assets ?

High Court Of Allahabad Commissioner Of Wealth Tax vs. Rama Shanker Gupta Section WT SCH. PART I, PARA A Item No, (2), PARA B, WT Rule 3 A.N. Verma & V.K. Khanna, JJ. WT Ref. No. 93 of 1986 19th May, 1988 Counsel Appeared Bharatji Agarwal, for the Revenue : None, for the Assessee A.N. VERMA, …

Punjab & Haryana H.C : Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the interest paid for non payment of purchase tax under the U.P. Sugarcane (Purchase Tax) Act, 1961, is not tantamount to penalty.?

High Court Of Punjab & Haryana CIT vs. Amritsar Sugar Mills Co. Ltd. Section 37(1) S.P. Goyal & A.L. Bahri, JJ. IT Ref. No. 55 of 1978 11th May, 1988 Counsel Appeared None, appeared, for the Assessee : L.K. Sood, for the Revenue S.P. GOYAL, J.: The following two questions have been referred under s. 256(1) …

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