Tag: 409 ITR

Kerala H.C : The expenditure incurred on the foreign tour of the wife of a Senior Executive of the company, in connection with the medical treatment of the said Executive is not an allowable deduction under the Income Tax Act, 1961, on the ground that she has no locus standi with the Company

High Court Of Kerala Harrisons Malayalam Ltd. vs. CIT K.Vinod Chandran & Ashok Menon, JJ. ITR.No. 1 of 2003 6th December, 2018 Counsel appeared: M. Gopikrishnan Nambiar, Joson Manavalan, K. John Mathai, Kuryan Thomas, Paulose C. Abraham, P. Gopinath for the Petitioner.: P.K. Ravindranatha Menon, SR.SC, GOI (Taxes), Jose Joseph, SC, for Income Tax VINOD CHANDRAN, …

Madras H.C : Whether on the facts and in the circumstance of the case, the Income Tax Appellate Tribunal was right in law in rejecting the appellant’s valuation of he closing stock of shares on the basis of “since realized value”?

High Court Of Madras P. Amarnath Reddy vs. DCIT Section 145 Asst. Year 2000-01 T.S. Sivagnanam & N.Sathish Kumar, JJ. Tax Case (Appeal) No.979 of 2008 19th November, 2018 Counsel Appeared: Sree Lakshmi Valli for the Petitioner.: T.Ravi Kumar, Senior Standing Counsel for the Respondent. T.S. SIVAGNANAM, J. This appeal, by the appellant/assessee under Section 260A …

Madras H.C : There was a dissolution of the firm as on 31st March 2002 and consequently there was liability to capital gains tax for the Assessment Year 2002-03

High Court Of Madras G.H. Reddy & Associates vs. Assistant Commissioner Of Income Tax Section 45(4), 187(2) Asst. Year 2002-03 T.S. Sivagnanam & V.Bhavani Subbaroyan, JJ. Tax Case (Appeal) No. 1106 of 2008 16th November, 2018 Counsel Appeared: R.Sivaraman for the Petitioner.: V.Pushpa, Junior Standing Counsel, M.Swaminathan, Senior Standing Counsel for the Respondent. T.S. SIVAGNANAM, J. …

Delhi H.C : the original return [which had declared Rs.49,67,00,907/-and subsequently revised to Rs.49 23,54,662/-] was assessed under scrutiny under Section 143(3) read with Section 144C of the Act on 31 12.2015, at Rs.61,92,17,179/-

High Court Of Delhi FIS Global Business Solutions India Pvt. Ltd. vs. Pr.CIT & Anr. Section 147, 148 Asst. Year 2011-12 S. Ravindra Bhat & Prateek Jalan, JJ. W.P.(C) 12277/2018, C.M. APPL.47539/2018 16th November, 2018 Counsel Appeared: Piyush Kaushik and Tanveer Zaki, Advocates for the Petitioner.: Sanjay Kumar, Advocate for the Respondent S. RAVINDRA BHAT, J. …

Madras H.C : Whether the Appellate Tribunal is correct in law in sustaining the assumption of jurisdiction by the CIT under Section 263 of the Income Tax Act, 1961 for revising the re-assessment framed by the respondent in accepting the claim of exemption/deduction under Section 54F of the Act in the computation of long term capital gains even though there was apparent jurisdictional error in the attempt to review the order of assessment framed to bring to tax the escaped income within the scope of Section 147 of the Act?

High Court Of Madras Renuka Philip vs. ITO Section 263 Asst. Year 2005-06 T.S. Sivagnanam & N. Sathish Kumar, JJ. Tax Case Appeal No. 286 of 2012 14th November, 2018 Counsel appeared: Sriraman for the Appellant.: R. Hemalatha for the Respondent S. SIVAGNANAM, J. This appeal by the assessee is directed against the order passed by …

Madras H.C : The assessee is entitled to claim deduction under Section 35AD(v)(aa) for the assessment year 2011-12 even though the classification for three star category was obtained by the assessee only during the next assessment year 2012-13

High Court Of Madras CIT vs. Ceebros Hotels Pvt. Ltd. Section 35AD Asst. Year 2011-12 T.S. Sivagnanam & N. Sathish Kumar, JJ. Tax Case Appeal No.773 of 2018 13th November, 2018 Counsel Appeared: R. Hemalatha, T. Ravikumar for the Petitioner.: A.S. Sriraman for the Respondent. T.S. SIVAGNANAM, J. We have heard the learned counsel on either …

Madras H.C : The reopening of assessment u/s.147 beyond four years is valid when there is no failure on the part of the assessee to disclose fully and truly all the material facts

High Court Of Madras Tractors And Farm Equipment Limited vs. Assistant Commissioner Of Income Tax Section 143(2), 147, 148, 80HHC Asst. Year 1997-98 T.S. Sivagnanam & Bhavani Subbaroyan, JJ. T.C.(A).No. 1548 of 2008 31st October, 2018 Counsel Appeared: Vikram Vijaya Raghavan, Subbaraya Aiyar Padmanabha,Ramamani for the Appellant.: S. Premalatha, M.Swaminathan for the Respondent T.S. SIVAGNANAM, J. …

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

High Court Of Madras Calibre Financial Services Limited vs. ITO Section 143(3) Asst. Year 2001-02 T.S.Sivagnanam & V.Bhavani Subbaroyan, JJ. Tax Case Appeal Nos.1868 and 1869 of 2008 31st October, 2018 Counsel Appeared: A.S. Sriraman, J. Balachander for the Petitioner.: R. Hemalatha for the Respondent. T.S. SIVAGNANAM, J. 1. These appeals filed by the Assessee under …

Bombay H.C : A bare look at the relevant clauses of the agreement would denote that nothing was left to be done and the properties could be conveyed and transferred on the date of the agreement itself

High Court Of Bombay Pr.CIT vs. Talwalkars Fitness Club Section 269H Asst. Year 2011-2012 S. C. Dharmadhikari & B. P. Colabawalla, JJ. Income Tax Appeal No. 589 OP 2016 29th October, 2018 Counsel Appeared: Abhay Ahuja a/w P. A. Narayanan, Sangeeta Yadav for the Appellant.: Ashok Jayawant Patil for the Respondent PC. 1. By this Appeal, …
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