271 ITR Archives - taxcaselaw.com

Supreme H.C : Where an assessee, being an Indian company or a person (other than a company) resident in India, is engaged in the business of export out of India of any goods or merchandise to which the section applies, there shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total income of the assessee, a deduction of the profits derived by the assessee from the export of such goods or merchandise.

Avijit Das / November 23, 2004

Supreme Court Of India Gem Granites vs. CIT Section 80HHC(2)(b) Asst. Year 1984-85, 1987-88, 1989-90 Mrs. Ruma Pal, Arijit Pasayat […]

Income Tax Case Laws

S.C : Whether, in the facts and circumstances of the case, plantation tax at the revised rate of Rs. 350 per hectare introduced by the Kerala Finance Act, 18 of 1987, w.e.f. 1st July, 1987 was leviable for any part of the financial year 1987-88 ?

Avijit Das / November 18, 2004

Supreme Court Of India State Of Kerala vs. Alex George & Anr., Etc. Kerala Finance Act, 1987, s. 1(2); Kerala

S.C : Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the assessee is entitled to deduction of investment allowance under s. 32A of the IT Act, 1961, in respect of machinery used in mining activity ignoring the fact that the assessee is engaged in extraction and processing of iron ore, not amounting to manufacture or production of any article or thing ?

Avijit Das / November 7, 2004

Supreme Court Of India CIT vs. Sesa Goa Ltd. Sections 32A(2)(b)(iii), 80-I Asst. Year 1986-87 Mrs. Ruma Pal, Arijit Pasayat

Income Tax Case Laws

AAR : These three applications, under s. 245Q(1) of the IT Act, 1961 (for short the “Act”), raise common points.

Avijit Das / October 18, 2004

Authority For Advance Rulings Hindustan Powerplus Ltd., In Re Sections 2(24)(iiia), 2(24)(iiib), 9(1)(ii), 10(14), 245N(ii) Asst. Year 2000-01, 2001-02, 2002-03,

Sec. 43(3), Section 32

Kerala H.C : According to the assessee, prawn ponds are tools to the business of the assessee and hence the same constitute ‘plant’ eligible for depreciation at the rates applicable to plant and machinery.

Avijit Das / October 14, 2004

High Court Of Kerala CIT vs. Victory Aqua Farm Ltd. Sections 32, 43(3) Asst. Year 1994-95 S. Sankarasubban & Pius

Sec. 260A

Bombay H.C : By our order dt. 22nd Sept., 2004, we granted time to learned counsel for the appellant to satisfy us that the appeal under s. 260A

Avijit Das / October 11, 2004

High Court Of Bombay Zenith Ltd. vs. DCIT & Anr. Section 260A, ITAT RULE 11 R.M. Lodha & J.P. Devadhar,

Section 90

AAR : This application, under s. 245Q(1) of the IT Act, 1961 (for short the Act), is by a non-resident company, incorporated in and a tax resident of Japan.

Avijit Das / October 11, 2004

Authority For Advance Rulings Ishikawajima Harima Heavy Industries Co. Ltd., In Re DTAA between India & Japan, art. 5(3), DTAA

Section 251

Punjab & Haryana H.C : Whether, on the facts and circumstances of the case, the Hon’ble Tribunal was right in law to modify the direction of the learned CIT(A) by holding that the addition in any case under this head should not exceed Rs. 49,091 ?

Avijit Das / October 11, 2004

High Court Of Punjab & Haryana CIT vs. Dr. M.C. Garg Section 251 G.S. Singhvi & Ajay Kumar Mittal, JJ.

Sec. 142(2A), Section 142

Madhya Pradesh H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the direction issued by the AO for special audit under s. 142(2A) of the IT Act, 1961, was arbitrary and illegal and, therefore, the time taken in special audit cannot be excluded ?

Avijit Das / October 4, 2004

High Court Of Madhya Pradesh : Indore Bench CIT vs. Vijay Kumar Rajendra Kumar & Co. Sections 142(2A), 153, Expln.

Sec. 5(2), Sec. 9(1)(i), Section 5

AAR : Whether the income derived by the applicant, a company incorporated in and tax resident of Panama, from the transfer of documents containing know-how and technical information, outside India, to EAC Nutrition Ltd. A/s, a corporation incorporated under the laws of Denmark, under the Sale and Purchase of Technology Agreement dt. 30th Nov., 2002 would be taxable in India having regard to the provisions of the IT Act, 1961 ?

Avijit Das / October 4, 2004

Authority For Advance Rulings Pfizer Corporation, In Re Sections 5(2), 9(1)(i) Syed Shah Mohammed Quadri, J., Chairman; K.D. Singh &