Category: High Court

Archive for the ‘High Court’ Category


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DATE: (Date of pronouncement)
DATE: March 15, 2008 (Date of publication)
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CITATION:

An order passed by the AO to give consequential effect to an appeallate order of an earlier year is not an order passed under section 154 and consequently the time limit of section 154(7) does not apply.

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DATE: (Date of pronouncement)
DATE: February 27, 2008 (Date of publication)
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CITATION:

The deletion of the second proviso to s. 43B by the Finance Act 2003 wef 1.4.2004 cannot be treated as a retrospective amendment and contributions towards PF beyond the period stipulated in s 36(1)(va) are not allowable deductions. Note: The …

CIT vs. Pamwi Tissues (Bombay High Court) Read More »

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DATE: (Date of pronouncement)
DATE: February 24, 2008 (Date of publication)
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CITATION:

Where all the material facts were placed before the AO and he raised questions thereon, Explanation 1 to s. 147 has no application. Further, the argument that because there was no discussion in the assessment order, the AO had not …

Idea Cellular vs. DCIT (Bombay High Court) Read More »

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DATE: (Date of pronouncement)
DATE: February 8, 2008 (Date of publication)
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CITATION:

(i) The Chairman of the Settlement Commission has the power to constitute a Special Bench and he is not required to give reasons or produce the material in support thereof. (ii) It is not as if the moment an application …

Hasan Ali Khan vs. ITSC (Bombay High Court) Read More »

COURT:
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DATE: (Date of pronouncement)
DATE: February 8, 2008 (Date of publication)
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CITATION:

(i) While the arrears of the State have priority over private debts owed to ordinary or unsecured creditors, this priority does not extend over secured creditors (subject to statutory exception). The fact that the tax arrears are recoverable as arrears …

Krishna Lifestyle vs. UOI (Bombay High Court) Read More »

COURT:
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DATE: (Date of pronouncement)
DATE: February 8, 2008 (Date of publication)
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CITATION:

As s. 192 requires the employer to deduct tax on the “estimated income” of the employee, the test is whether he acted in a bona fide and honest manner. Where the employer allowed the employees deduction under sections 10(5) and 10(14) only on the basis of declarations filed by the employees without verifying actual expenditure incurred by the employee & maintaining records thereof, it could still be regarded as having acted in a bona fide manner.

COURT:
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DATE: (Date of pronouncement)
DATE: February 8, 2008 (Date of publication)
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CITATION:

Deduction under section 80M can be claimed even in respect of the interim dividend declared for the succeeding financial year before the due date. Related Judgements CIT vs. Narendra Desai (Bombay High Court) Receipt for agreeing to refrain from carrying on …

CIT vs. Saumya Leasing (Bombay High Court) Read More »

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DATE: (Date of pronouncement)
DATE: February 8, 2008 (Date of publication)
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CITATION:

High Court deprectaes the practice of the department in mechnaically filing frivolous appeals. Observes that it causes inconvenience and wastes the time of the Court and results in sidelining of important issues. It accordingly imposes costs of Rs. 10,000 on …

CIT vs. Silver Streak (Delhi High Court) Read More »

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DATE: (Date of pronouncement)
DATE: January 31, 2008 (Date of publication)
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CITATION:

While damages or penalty which are compensatory in nature are allowable as a deduction u/s 37(1) of the Act, damages which are penal in nature and in respect of infraction of law are not allowable as a business expenditure. Amounts …

Jamna Auto Industries vs. CIT (P & H High Court) (Full Bench) Read More »

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DATE: (Date of pronouncement)
DATE: January 31, 2008 (Date of publication)
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CITATION:

(i) In considering whether the interest paid by an assessee on loans raised for acquisition of new asset, before the same was first put to use, is to be added towards the cost of the asset or the same is …

CIT vs. Vardhaman Polytex (P & H High Court) (Full Bench) Read More »