262 ITR

Section 50, Section 54E

Gauhati H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was correct in upholding the order of the CIT(A) in allowing exemption under s. 54E of the IT Act, 1961, on gains arising out of transfer of depreciated assets, when unabsorbed depreciation of earlier years was claimed and allowed to be set off ?

High Court Of Gauhati CIT vs. Assam Petroleum Industries (P)Ltd. Sections 50, 54E P.P. Naolekar, C.J. & Amitava Roy, J.

Income Tax Case Laws

Karnataka H.C :A search under s. 132 of the IT Act bars a person from making the disclosure in respect of the previous year in which the search took place and also for any earlier previous year. In case, a search warrant is issued in the name of one person, can others who also reside at the same premises and whose statements may have been recorded during the course of the search, make a disclosure of their income ?

High Court Of Karnataka Mysore Plantations Ltd. vs. CIT & Anr. Sections FA 62, FA 64, FA 65, FA 68

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