CIT vs. Divine Leasing & Finance (Supreme Court)

Related Judgements

1. CIT vs. Suresh N. Gupta (Supreme Court) 

   S. 158BB has to be read with the relevant Finance Act and the surcharge prescribed therein is applicable to a block assessment. The Proviso to s. 113 of the Act, though inserted by the Finance Act 2002 with effect from … CIT vs. Suresh N. Gupta (Supreme…

2. M/s Ahmed Anis vs. CIT (Supreme Court) 

   Where the assessee had led satisfactory evidence that its business was that of a commission agent and not a trader and 10-11 years had passed, the assessee could not be held responsible for non-appearance of five traders to whom summons … M/s Ahmed Anis vs. CIT (Supreme…

3. Munjal Sales vs. CIT (Supreme Court) 

   (i) A firm seeking to claim deduction of interest paid on capital from its partners has to first satisfy the requirements of s. 36(1)(iii) and thereafter the limits imposed by s. 40(b)(iv). The fact that the said capital is not … Munjal Sales vs. CIT (Supreme Court) Read…

4. Sahara India vs. CIT (Supreme Court) (Larger Bench) 

   Before dubbing the accounts to be complex or difficult to understand, there has to be a genuine and honest attempt on the part of the AO to understand accounts maintained by the assessee; appreciate the entries made therein and in the event of any doubt, seek explanation from the…

5. Malayala Manorama vs. CIT (Supreme Court) 

   The AO has no jurisdiction u/s 115J of the Act to go behind the Profit & loss account of the assessee and to make adjustments therein beyond what is expressly provided in s. 115J. An assessee is entitled to provide for depreciation in its books at rates which are…