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

Related Posts:

• DIT (IT) vs. Schlumberger Asia Services Ltd (Uttarakhand High Court) (Full Bench) Except to state that the said judgment needs re-consideration, no justifiable cause has been shown as to why this Court should take a view different from that of the Delhi High Court, in Mitchell Drilling International Pvt. Ltd.48, more so when the Division Bench of the Delhi High Court has…
• The Mavilayi Service Co-operative Bank Ltd vs. CIT (Kerala High Court) (Full Bench) In Chirakkal, the Divjsion Bench did not notice the earlier judgment in Perinthalmanna. After referring to the provisions under the Kerala Co-operative Societies Act and the Banking Regulation Actl 1949 the Division Bench held that the certificate of registration issued by the Department categorizing the assessee as Primary Agricultural Credit…
• PCIT vs. PMP Auto Components Pvt. Ltd (Bombay High Court) There is no dispute before us that the transaction of purchase of shares by the respondent of its subsidiary company i.e. A.E. at a price much higher than its fair market value would be international transaction as defined in Section 92(B) of the Act. The only issue before us as…
• PCIT vs. Ami Industries (India) P Ltd (Bombay High Court) In NRA Iron & Steel (P) Ltd (supra), the Assessing Officer had made independent and detailed inquiry including survey of the investor companies. The field report revealed that the shareholders were either non-existent or lacked credit-worthiness. It is in these circumstances, Supreme Court held that the onus to establish identity…
• PCIT vs. Khushbu Industries (Bombay High Court) The reopening proceedings under section 148 are bad as necessary sanction/approval had not been obtained in terms of section 151 of the Act. The impugned order of the Tribunal records that the sanction for issuing the impugned notice had been obtained from the Commissioner of Income Tax when, in terms…
• CIT vs. Sadiq Sheikh (Bombay High Court) (Goa Bench) If the ITAT were to have considered the aforesaid circumstances, which, according to us, the ITAT was duty-bound to, we are quite sure that the ITAT would not have, nevertheless, found the so-called explanation of the assessees acceptable or in compliance with the provisions of Section 68 of the said…