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examination of book of accounts

Gujarat H.C : Where assessee, engaged in execution of turnkey projects, maintained books of account under section 44AA(2) and, moreover, said accounts were audited and audit report had been furnished before Assessing Officer, its claim for being taxed as per provisions of section 44BBB(2) was to be allowed

Avijit Das / September 18, 2017

High Court Of Gujarat CIT (IT & TP) Vs. Shandong Tiejun Electric Power Engineering Co. Section 44BBB Akil Kureshi And […]

Karnataka H.C : The Tribunal was right in characterizing both capital receipts and revenue receipts in a like manner for the computation of book profits under Section 115-JB of the Income-tax Act, 1961

Avijit Das / November 9, 2016

High Court Of Karnataka B & B Infratech Ltd. vs. ITO, Ward 12(1), Bangalore Section 115JB Assessment year 2005-06 Jayant

Sec. 37(1), Section 37

Madras H.C : The expenditure of Rs. 2.381 Crores claimed by the assessee as payment made towards sub-contractors can be allowed as deduction, even though the assessee had not filed any supporting bills or any other evidence for the expenses debited in the assessees books of accounts

Avijit Das / September 7, 2016

High Court Of Madras CIT, Chennai vs. SVE Engineers (P.) Ltd. Section 37(1) Nooty Ramamohana Rao And Dr. P. Devadass,

Gujarat H.C : the Assessing Officer to the book profit on account of additional depreciation debited in the accounts for the earlier years because of change in the method of providing depreciation retrospectively

Avijit Das / November 17, 2014

High Court Of Gujarat DCIT Vs. Gujarat Filaments Ltd. Section 115JB Assessment Year : 1989-90 K.S. Jhaveri And K.J. Thaker,

Sec. 37(1), Sec. 44AD, Section 145

Rajasthan H.C : The respondent-assessee that it is maintaining regular and proper books of accounts supported by material and relevant records and accounts are also audited by a Chartered Accountant

Avijit Das / February 10, 2014

High Court Of Rajasthan CIT, Jaipur â€“II Vs. Consulting Engineering Group Ltd. Section 37(1), 44AD And 145 Assessment Year 2004-05

Sec. 158BD, Sec. 158BC

Madras H.C : The Assessing Officer never recorded any satisfaction about the books of accounts and other documents indicating undisclosed income of the appellant petitioner when there is no search warrant against him

Avijit Das / February 10, 2014

High Court Of Madras Kailash Sarda vs. CIT -viii, Chennai Block Assessment Years : 1986-87 To 1995-96 Section : 158BD,

Sec. 37(1), Section 145, Section 43B

Calcutta H.C : Where assessee’s liability to pay excise duty relating to earlier years was adjudicated during relevant assessment year, assessee could claim deduction of amount so paid in assessment year in question even though books of account were maintained on mercantile system of accounting

Avijit Das / February 3, 2014

High Court Of Calcutta ITC Ltd. vs. CIT, Kolkata â€“III Section : 37(1), 43B, 145 Assessment Year : 1984-85 Girish

Madras H.C : The Assessing Officer was not justified in adding an amount of Rs.21,61,740/- out of the amount shown as “due to Maistries”, even though the assessee could not produce vouchers before the Commissioner of Income Tax (Appeals) and before the Assessing Officer and by making incorrect assumptions of facts that the Assessing Officer accepted the books of accounts as correct and complete

Avijit Das / April 8, 2013

High Court Of Madras CIT – I, Trichy vs. T. Arivunidhi Assessment Year : 2002-03 Section : 37(1) Mrs. R.

Section 271E, Section 273B

Bombay H.C : Transactions effected through journal entries in the books of the assessee would not amount to repayment of any loan or deposit otherwise than by account payee cheque or account payee bank draft within the meaning of Section 269T to attract levy of penalty under Section 271E

Avijit Das / June 12, 2012

High Court Of Bombay CIT, Central-IV vs. Triumph International Finance (I) Ltd. Assessment Year : 2003-04 Section : 271E, 273B

Karnataka H.C : Whether since persons in whose names credits were shown had denied transaction, mere production of DDs did not substantiate case of assessee and, therefore, order of Assessing Officer was to be restored

Avijit Das / July 13, 2011

High Court Of Karnataka CIT, Central Circle, Bangalore vs. S.L.N. Traders Assessment Year : 1996-97 Section : 68 V.G. Sabhahit

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