Issue :- The only question that may arise for consideration is that, if the material is supplied in response to the tender invited in the name of President of India, whether it has to be considered under the Central Government or not. Held In our view, the question can be examined from two angles. One… Read More »
The appellate authority has relied on the decision of CIT v. Green Gold Tree Farmers (P.) Ltd.[2008] 299 ITR 262 (Uttarakhand),wherein it has been held that sale proceeds of plants raised in nursery on land belonging to the assessee constitute agriculture income. The appellate authority has also referred to the decision of a Division Bench… Read More »
HIGH COURT OF MADRAS Central Board of Direct Taxes v. Regen Infrastructure & Services (P.) Ltd. NOOTY. RAMAMOHANA RAO AND DR. ANITA SUMANTH, JJ. WRIT APPEAL NO. 1314 AND C.M.P. NO. 17100 OF 2016 NOVEMBER 1, 2016 T. Ravikumar for the Appellant. JUDGMENT Nooty. Ramamohana Rao, J. – This Letters Patent Appeal is directed against… Read More »
HIGH COURT OF DELHI Council of Institute of Chartered Accountants of India v. B.K. Dhingra PRADEEP NANDRAJOG AND MS. PRATIBHA RANI, JJ. CHAT.A.REF. NO. 1 OF 2013 SEPTEMBER 22, 2016 Rakesh Agarwal and Pulkit Agarwal Advs. for the Relator. ORDER Pradeep Nandrajog, J. – This is a reference under Section 21(5) of the Chartered… Read More »
Held The disallowance cannot be made only on the ground that results of the research were not shown by the assessee during the year under consideration. The benefit of research may or may not yield in the year under consideration. But, that would not determine allowability of the expenses or otherwise. Thus, taking into account… Read More »
Did the department have a prior charge over the property which before raising of the dues of the department was already mortgaged in favour of the financial institution? Held Even if the bank had disregarded such a communication of the income-tax department and not shared with the department, proceeds of the sale of such property,… Read More »
Held The application can be filed even prior to 1st April of the relevant Assessment Year, from which the exemption is sought. HIGH COURT OF PUNJAB AND HARYANA Shri Guru Ram Dass Ji Educational Trust v. Chief Commissioner of Income-tax, Amritsar S.J. VAZIFDAR, CJ. AND DEEPAK SIBAL, J. C.W.P. NO. 14010 OF 2016 SEPTEMBER 28,… Read More »
Held ”Since separate provisions were prescribed on default for non-filing or delayed filing of Form 15G/15H to Commissioner. non filing of such form would not invoke disallowance under section 40(a)(ia) and that where person responsible to deduct TDS received declaration in form 15G/form 15h non-filing or delayed filing of such form before Commissioner would not… Read More »
Held Any stock in trade by profession is excluded from the definition of capital asset and in these circumstances the contention of the Revenue is that stock in trade is also included for applicability of Section 54F of the Act, in our view, cannot be accepted. HIGH COURT OF KARNATAKA Commissioner of Income-tax, Mangalore v.… Read More »
Held We further find that the main objects of the assessee in this case are providing advisory, consultancy and technical services in the area of real estate and properties such as architectural, civil construction, maintenance and related services. None of the above objects suggest that letting out of the premises was the business activity of… Read More »