Judgements and Orders, Supreme Court and High courts of India

Section 391, read with section 394, of the Companies Act, 1956 - Compromise and arrangement - Whether valuation of shares following book value method is accepted as a proper mode of valuation of shares and it cannot be said to be illusory - Held, yes

Section 399, read with sections 397 and 398, of the Companies Act, 1956 - Oppression and mismanagement - Whether when shareholding of a petitioner is reduced below 10 per cent due to further allotment of shares and such allotment itself is impugned i

Held by the Hon`ble Court that, agriculture land is a capital asset u/s 2(14) of the act, only on ground that the cost of acquisition was nil it could not be held that capital gain was not liable to tax.

Held by the Hon`ble Court that, it was an admitted fact by the assessee that structural changes had been made therefore it is capital expenditure in nature.

Deduction of tax at source - Amendment to section 199, permitting to adjust tax deducted at source (TDS) proportionately in hands of co-owners had been brought in statute book only with effect from assessment year 1997-98, with prospective effect - I

Section 80-O of the Income-tax Act, 1961 - Deductions - Royalty, etc., from certain foreign enterprises - Assessment year 2000-01 - Whether creation of website, being a highly specialized work which includes state of art programming, technical writin

Section 199 of the Income-tax Act, 1961 - Deduction of tax at source - Credit for tax deducted - Assessment year 1996-97 - Whether amendment to section 199, permitting to adjust tax deducted at source (TDS) proportionately in hands of co-owners had b

Section 54F of the Income-tax Act, 1961 - Capital gains - Exemption of, in case of investment in residential house - Assessment years 1997-98 and 1998-99 - Assessing Officer denied exemption under section 54F on ground that assessee was in possession

Section 111A of the Companies Act, 1956 - Transfer of shares - Rectification of register on - Whether amendment made to section 111A(3) by Depositories Related Laws (Amendment) Act, 1997, with effect from 15-1-1997 is only prospective in nature - Hel

Business disallowance - Certain deductions to be allowed only on actual payment