HIGH COURT OF MADRAS Suresh Anuradha v. Commissioner of Income-tax S.S. SUNDAR, J. W.P. (MD) NO. 1099 OF 2020 W.M.P. (MD) NOS. 889 AND 890 OF 2020 JANUARY 22, 2020 G. Thalaimutharasu and B. Saravanan for the Petitioner. Mrs. S. Srimathy for the Respondent. ORDER 1. This Writ Petition is filed for issuing a Writ of Certiorarified Mandamus to quash the… Read More »
HIGH COURT OF BOMBAY Samir Narain Bhojwani v. Deputy Commissioner of Income-tax, Central Circle 3(4), Mum. M.S. SANKLECHA AND NITIN JAMDAR, JJ. WRIT PETITION NO. 2825 OF 2019 OCTOBER 22, 2019 J.D. Mishtri, Sr. Counsel and Madhur Agarwal for the Petitioner. Sham Walve for the Respondent. ORDER 1. In view of the extraordinary urgency made out by the petitioner as the… Read More »
HIGH COURT OF MADRAS Commissioner of Income Tax, Salem v. Chola Spinning Mills (P.) Ltd. DR. VINEET KOTHARI, ACTG., CJ. AND C. SARAVANAN, JJ. TAX CASE (APPEAL) NOS. 793 & 794 OF 2019 OCTOBER 30, 2019 M. Swaminathan, Sr. Standing Counsel and Ms. V. Pushpa, Jr. Standing Counsel for the Appellant. A.S. Sivaraman and S. Sridhar for the Respondent. JUDGMENT Dr.Vineet Kothari,… Read More »
HIGH COURT OF DELHI Fiitjee Ltd. v. Principal Commissioner of Income-tax-2 VIPIN SANGHI AND MS. REKHA PALLI, JJ. IT APPEAL NOS. 823 & 824 OF 2019 DECEMBER 6, 2019 C.S. Aggarwal, Sr. Adv., Ravi Pratap Mall, and Uma Shankar, Advs. for the Appellant. Sunil Agarwal, Sr. Standing Counsel, and Priya Sarkar, Adv. for the Respondent. ORDER C.M. No. 40928/2019 in I.T.A. No.… Read More »
The assessee has claimed a loss of Rs. 15,32,120 qua the said property on account of interest (on borrowed capital) at Rs. 21,62,120, adjusting it against the rental income of Rs. 9 lakhs. The said rent was, on the basis of a field enquiry by the Assessing Officer (AO), found to be from the assessee’s major son,… Read More »
We note that the period of 8 years, which is mentioned in section 72 of the Act, in respect of b/f business losses, is applicable to compute the normal tax under the Income Tax Act and it does not apply to section 115 JB of the Act. Section 115JB of the Act is a code… Read More »
As, Section 132(4A) of the Act provides that any books of account, documents, money, bullion, jewellary or other valuable articles or things found in possession or in control of any person in course of search may be presumed to be belonging to such person, and further, contents of such books of account and documents are… Read More »
We simply cannot accept the the interpretation of the counsel for the Revenue that once a notice under sub-section (2) of section 143 is issued, the suspension of the refund arising out of the return filed by the assessee would be automatic and till the passing of the order of assessment under sub-section (3) of… Read More »
Merely because the respondent assessee has disclosed additional income of Rs. 12 Crore during the course of settlement, it cannot be said that Commission has not followed the procedure prescribed under the Act of 1961. HIGH COURT OF GUJARAT Principal Commissioner of Income-tax, Surat-1 v. Shankarlal Nebhumal Uttamchandani J.B. PARDIWALA AND BHARGAV D. KARIA, JJ. R/SPECIAL CIVIL… Read More »
. The ITAT came to the erroneous conclusion that merely because the Assessee had generated profits out of the activity of publishing and selling of school text books it ceased carrying on the activity of ‘education.’ The ITAT failed to address the issue in the background of the setting up of the Assessee, its control… Read More »