284 ITR

Sec. 2(14), Section 45

Andhra Pradesh H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was correct in construing the sub-lease agreement and holding that the deposit of Rs. 4,30,000 received by the assessee was a consideration for granting sub-lease of the assessee’s rights and not a payment of monthly rent in advance and as such liable to tax as short-term capital gains ?

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High Court Of Andhra Pradesh Mrs. G. Seetha Kamrajj vs. CIT Sections 2(14), 45 Bilal Nazki & G. Chandraiah, JJ.

Section 43B

S.C : Whether, on the facts and in the circumstances of the case and on a correct interpretation of the amendment made by the Finance Act, 1988 to s. 43B(a) of the IT Act, 1961, which has been explained as clarificatory of legislative intention by the Explanatory Notes issued by the Government, the Tribunal was justified in law in not holding that the said amendment will be retrospective in its application ?

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Supreme Court Of India CIT vs. Varas International (P) Ltd. Section 43B Asst. Years 1984-85, 1985-86 Mrs. Ruma Pal &

Section 153, Section 5

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in coming to the conclusion that interest at 15 per cent was accruing on the amount of Rs. 1,08,50,000 due to the assessee by one Sri K.L. Srihari, despite the attachment of the loan under s. 226(3) of the IT Act, 1961 and despite the agreement between the assessee and the debtor that no interest shall be chargeable or payable on the loan from 1st March, 1985 and that the same was assessable as the assessee’s income according to the system of mercantile accounts followed by it ?

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High Court Of Madras Sujatha Films (P) Ltd. vs. CIT Sections 5, 153(1)(b) Asst. Years 1986-87, 1987-88, 1988-89, 1989-90 P.D.

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